Deutsche EuroShop reports good operational performance in the first half of 2026 and confirms its forecast

Deutsche EuroShop reports good operational performance in the first half of 2026 and confirms its forecast

• Revenue rises by 1.5% to €133.3 million
• Property values show a slight upward trend
• Consolidated profit rises by 2.0%
• Conversion to Deutsche EuroShop SE successfully completed
• Full-year forecast for 2026 confirmed

Hamburg, 13 August 2026 – Shopping center investor Deutsche EuroShop (DES) performed well operationally in the first half of 2026, despite a continuing challenging environment. Consumer sentiment remained subdued and geopolitical uncertainties characterised the overall economic situation. Against this backdrop, the stability of the business model and the attractiveness of the shopping centers in Deutsche EuroShop’s portfolio were once again evident.

“Overall, our shopping centers performed well in the first half of 2026. In a challenging consumer environment, our tenants’ turnover and contractual rents continued to rise,” explains Hans-Peter Kneip, CEO of Deutsche EuroShop. “From a financial perspective, too, we are in line with our expectations and are therefore confirming our forecast for the full year.”

Tenants’ turnover in the shopping centers rose by 2.4% year-on-year during the reporting period. Visitor footfall was 1.3% lower than in the previous year. The occupancy rate remained at a high level, standing at 95.4% at the end of the half-year, compared with 95.7% at the end of 2025.

The DES Group’s turnover increased by 1.5% to €133.3 million. This was driven in particular by higher contractual rents and settlement payments from tenants. Net operating income (NOI) rose by 1.6% to €104.9 million, whilst EBIT increased by 1.4% to €105.4 million.

EBT excluding valuation gains fell by 6.3% to €70.4 million. The main reason for this was higher interest expense, particularly in connection with the bond issued in 2025. Property values showed a further slight improvement in the first half of 2026 as a result of continued rental growth. As a result, consolidated profit rose to €71.2 million, 2.0% higher than the previous year’s figure. EPRA earnings stood at €0.90 per share, whilst Funds from Operations (FFO) amounted to €0.92 per share.

The Main-Taunus-Zentrum continued to perform very well. The Food Garden, which opened in April 2025, has established itself as a major asset to the center in its first year of operation and is contributing positively to visitor numbers. The recent award of a DGNB Gold certificate also confirms the project’s high standard of sustainability.

At the Annual General Meeting on 18 June 2026, the shareholders approved all proposed resolutions. Among other things, a dividend of €1.00 per share for the 2025 financial year was approved, as was the conversion of the company into a European Company (Societas Europaea, or SE for short). The conversion was successfully completed with the entry in the commercial register on 31 July 2026. Since then, the company has been trading as Deutsche EuroShop SE. The new legal form reflects the company’s European orientation. The business model, the stock market listing and the rights of shareholders remain unaffected.

Against the backdrop of business performance in line with plans in the first half of 2026, DES confirms its full-year forecast published in March:

• Revenue: €269 to €277 million
• EBIT: €211 to €219 million
• EBT excluding valuation gains: €134 to €142 million
• FFO: €134 to €142 million or €1.77 to €1.87 per share

Complete Half-year Financial Report

The full Half-year Financial Report is available as a PDF file and as an ePaper on the Internet at
www.deutsche-euroshop.com/IR

Deutsche EuroShop - The Shopping Center Company

Deutsche EuroShop is the only public company in Germany to invest exclusively in shopping centers in prime locations. The company currently has investments in 21 shopping centers in Germany, Austria, Poland, the Czech Republic and Hungary. The portfolio includes the Main-Taunus-Zentrum near Frankfurt, the Altmarkt-Galerie in Dresden and the Galeria Baltycka in Gdansk, among many others.

Key Group figures