Shopping centre investor Deutsche EuroShop SE concluded the first nine months of the 2026 financial year according to plan. In an economic environment shaped by consumer restraint and geopolitical uncertainties, the company's portfolio proved resilient. While footfall declined by 1.5 per cent compared to the prior-year period, tenants in the centres recorded a 1.9 per cent increase in turnover. The occupancy rate stood at 95.6 per cent as of the reporting date on 30 September 2026.
At group level, revenue rose by 2.5 per cent to EUR 202.5 million during the reporting period. Net operating income climbed by 1.8 per cent to EUR 158.3 million, while operating earnings before interest and taxes (EBIT) increased by 4.3 per cent to EUR 162.1 million. Consolidated profit reached EUR 98.8 million, exceeding the prior-year figure by 5.6 per cent. Earnings before taxes excluding measurement gains and losses grew by 1.3 per cent to EUR 108.9 million.
EPRA earnings amounted to EUR 1.33 per share, while funds from operations stood at EUR 1.37 per share. The year-on-year decline in both metrics is primarily attributable to higher interest expenses resulting from the green bond issued in June 2025.
Non-recurring effects support operational earning power
Owing to stable business performance and non-recurring income, the Executive Board has raised its guidance for the full year 2026. Alongside increased rents and compensation payments from tenants, slightly declining costs are having a positive effect on the full year. In addition, the company booked income from the reversal of provisions for real estate transfer tax liabilities as well as higher interest income.
According to Chief Executive Officer Hans-Peter Kneip, business development is in line with expectations and is reinforced by positive one-off effects. The additional contribution to earnings amounts to around EUR 10 million. Kneip also pointed out that the raised forecast resulting from non-recurring effects does not represent a new benchmark for future financial years.
- —Revenue: EUR 272 million to EUR 277 million (previously: EUR 269 million to EUR 277 million)
- —EBIT: EUR 220 million to EUR 225 million (previously: EUR 211 million to EUR 219 million)
- —EBT excluding measurement gains and losses: EUR 149 million to EUR 154 million (previously: EUR 134 million to EUR 142 million)
- —Funds from operations (FFO): EUR 144 million to EUR 149 million (previously: EUR 134 million to EUR 142 million)
For the remainder of the financial year, Deutsche EuroShop considers itself well positioned despite ongoing challenges in the consumer sector.
