Brief: Deutsche Euroshop Adjusts 2020 Forecast

Deutsche Euroshop AG

12/11/2019 16:56

Nov 12 (Reuters) - Deutsche Euroshop AG  DEQGn.DE :
    * DGAP-ADHOC: OPTIMISATION OF THE HOLDING STRUCTURE ENABLES
TAX
PROVISIONS OF AROUND EUR73 MILLION TO BE RELEASED AND RECOGNISED
IN INCOME / ADJUSTMENT OF 2020 FORECAST DUE TO MARKET
DEVELOPMENT
    * ADJUSTMENT OF 2020 FORECAST DUE TO MARKET DEVELOPMENT
    * FOR CONSOLIDATED FINANCIAL STATEMENTS AS AT 31 DECEMBER
2019,
EXECUTIVE BOARD EXPECTS TO RELEASE AROUND EUR73 MILLION TO
INCOME
    * 2019 POSITIVE IMPACT ON CONSOLIDATED NET INCOME OF EUR1.18
PER
SHARE
    * FOR FFO AND EPRA EARNINGS, REVERSAL FOR 2019 WILL NOT HAVE
AN
EFFECT
    * AFTER RESTRUCTURING, HOWEVER, CURRENT TRADE TAX CHARGE
WILL BE
REDUCED AS OF 2020 FINANCIAL YEAR.
    * EXECUTIVE BOARD CONFIRMS PREVIOUS FORECAST FOR 2019
FINANCIAL
YEAR
    * SEES FY 2020 SALES OF BETWEEN EUR221 AND EUR225 MILLION
(PREVIOUSLY: EUR222 TO EUR226 MILLION)
    * SEES FY 2020 EBIT) OF BETWEEN EUR191 AND EUR195 MILLION
(PREVIOUSLY: EUR194 TO EUR198 MILLION)
    * SEES FY 2020 EBT) WITHOUT VALUATION GAINS/LOSSES OF
BETWEEN
EUR159 AND EUR162 MILLION (PREVIOUSLY: EUR161 TO EUR164 MILLION)
    * SEES FY 2020 FFO) OF BETWEEN EUR150 AND EUR153 MILLION OR
BETWEEN EUR2.43 AND EUR2.47 PER SHARE (UNCHANGED)
    * PLANNED DISTRIBUTION OF A DIVIDEND IN AMOUNT OF EUR1.60
PER
SHARE IN RESPECT OF FINANCIAL YEAR 2020 REMAINS UNAFFECTED.

Source text for Eikon:  ID:nEQ6YPfjma 
Further company coverage:  DEQGn.DE 

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