Deutsche Euroshop AG : Preliminary FY 2023 key figures overall above our estimates yet the initial FY 2024e guidance shows a y-o-y decline
>FY 2023 FFO I p/s exceeding the company´s guidance - Deutsche Euroshop (DES) reported yesterday after market closing preliminary FY 2023 results which were overall above our estimates. Revenues of € 273.3m (+28.4% y-o-y), were slightly above our estimate of € 271.8m. Furthermore, net operating income of € 214.9 m (+28.3 % y-o-y) marginally exceeded our forecast of € 210.6m. FFO I has increased significantly by 31.7 % y-o-y to € 171.3m, translating into € 2.28p/s (jus...Deutsche Euroshop is a property, real estate and development group based in Germany. Through its subsidiaries, Co. focuses on acquiring, managing, using and selling investments of all kinds, and in particular investments in retail properties. Management of the properties is outsourced to Co.'s external partner, ECE Projektmanagement GmbH & Co. KG. Co. maintains equity interests in 19 European shopping centers in Germany, Austria, Hungary and Poland. The market value of these shopping centers, which are predominantly in city center locations, amounts to approximately Euro4.3 billion.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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