“Our key operating figures developed in line with our expectations in the first quarter,” explains Hans-Peter Kneip, CEO of Deutsche EuroShop. “Seasonal effects such as the late Easter date influenced customer behavior, but should have a positive impact in the second quarter.” Compared to the same period of the previous year, footfall in the 21 shopping centers in the DES portfolio fell by 3.4%, while tenant revenue also declined by 0.4%.
Consolidated sales rose slightly by 0.4% to 66.3 million euros thanks to a higher occupancy rate compared to the same quarter of the previous year as a result of completed modernization measures and newly concluded rental agreements.
At the same time, operating expenses in the centers increased, causing net operating income to fall by 1.2% to 53.1 million euros. EBIT fell by 1.7% to 53.4 million euros, while EBT (excluding measurement) decreased by 6.4% to 39.7 million euros as a result of higher interest expenses. Consolidated net income decreased by 2.6% to 31.9 million euros, shared the company.
A particular highlight for the investor was the completion and opening of the new “Food Garden” in the Main-Taunus-Zentrum on April 10, 2025. The response from customers and tenants to the new offering has been consistently positive.
