Deutsche Euroshop AG : Q1 2024 key figures overall in line with our estimates, FY 2024e guidance confirmed
>Key figures showing a decline as expected - Deutsche Euroshop (DES) reported yesterday after market close its Q1 2024 figures which were overall in line with estimates. Management has confirmed its muted 2024e FFO I p/s guidance of € 1.91-1.99.Revenues of € 66.0m (-2.6% y-o-y) were close to our estimate of € 67.0m. Furthermore, net operating income of € 53.8m (-1.4 % y-o-y) was in line with our forecast of € 54.1m. Total measurement losses of € -4.7m were above...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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