In the course of preparing the nine-month figures as of 30 September 2026, the Executive Board of Deutsche EuroShop SE re-evaluated the target figures for the current financial year. The revision is based on a noticeably improved operational performance across the portfolio as well as positive one-off financial effects that bolster the annual result.
At an operational level, the shopping centre specialist recorded higher rental income as well as additional proceeds from tenant compensation payments. Together with a slight decrease in costs, this performance resulted in net operating income that exceeds the original budget by around EUR 3 million.
Non-recurring effects and interest income support operating profit
The increase in operating profit before interest and taxes was also supported by one-off other operating income of around EUR 4 million. This results from the reversal of provisions for real estate transfer tax liabilities that were originally recognised in connection with acquisitions from the 2023 financial year.
On the financing side, the company benefited from the higher interest rate environment combined with an ongoing high cash position. As a result, the Executive Board anticipates interest income to exceed the original budget by around EUR 4 million. These combined factors are reflected directly in an improved pre-tax profit excluding valuation results and higher operating cash flows.
Adjusted key figures for financial year 2026
When calculating funds from operations, the one-off tax effect from the reversed provisions is excluded as planned. Nevertheless, adjusted cash inflows also significantly exceed previous estimates, prompting the Executive Board to revise the target ranges for the key performance indicators as follows:
- —Revenue: EUR 272 to 277 million (previous range: EUR 269 to 277 million)
- —Operating profit before interest and taxes (EBIT): EUR 220 to 225 million (previous range: EUR 211 to 219 million)
- —Earnings before taxes (EBT) excluding valuation result: EUR 149 to 154 million (previous range: EUR 134 to 142 million)
- —Funds from operations (FFO): EUR 144 to 149 million (previous range: EUR 134 to 142 million)
By raising the target ranges, Deutsche EuroShop SE consolidates its earnings path for the full year 2026, signalling stability both in ongoing leasing operations and liquidity management.
