Deutsche EuroShop: expectation of profits 2007 excelled (DE)

Deutsche EuroShop is expecting a consolidated profit after minorities of more than €93 million (2006: €100.3 million) for the fiscal year ended 31 December 2007. The forecast is based on preliminary results for 2007, and includes the valuation of the shopping centers. The figures correspond to undiluted earnings per share of €2.71.

The revenue amounted to €95.7 million, 3% more than in the prior year. With earnings before interest and taxes (EBIT) of more than €76 million the operating earnings before taxes (EBT) amounted to approx. €37 million, the valuation result to more than €45 million. The average revaluation of all centers was approx. +3.1%. The Net Asset Value (NAV) per share increased from €25.53 by 5.4% to €26.90.

For fiscal year 2008, Deutsche EuroShop is forecasting double-digit percental growth rates: revenue €110-113 million (+17%), EBIT €90-92 million (+20%) and EBT €43-45 million (+19%).

The final figures for fiscal year 2007 will be published on 18 April 2008 at the company's annual earnings press conference in Hamburg.

Source: Deutsche Euroshop

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