logo
Plus   Neg
Share
Email

Deutsche EuroShop Posts 9-month Loss

German-based international real estate investment company Deutsche EuroShop AG (DUSCF.PK) reported that its net loss for the nine-month of 2020 was 105.5 million euros compared to net income of 93.3 million euros in the previous year.

The coronavirus pandemic had an impact on the valuation of the Group's real estate assets, which was carried out for the first time in the first half of the year, resulting in a valuation loss of 221.3 million euros in total.

The company generated significantly lower net operating income of 121.1 million euros in the first nine months of 2020 due to higher write-downs on rent receivables.

Earnings before taxes and excluding measurement gains/losses were 93.4 million euros, a 23.2% decrease from the prior year.

EPRA earnings decreased by 24.6% to 90.8 million euros and funds from operations by 18.6% to 90.9 million euros.

Revenue was 164.4 million euros, down 1.9% from the previous year.

The company did not provide forecast for financial year 2020, due to uncertainty caused by the COVID-19 pandemic.

However, the company believes that it is still well equipped to meet the current challenges, reflecting the solid balance sheet, low debt and stable liquidity position.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Netflix Inc. (NFLX) - Shares of the video streaming giant jumped 12% after it reported fourth-quarter results and strong subscriber additions. Netflix added 8.51 million subscribers globally in the quarter, far ahead of its forecast of 6.00 million, to end the quarter with 203.66 million subscribers.... Best Buy said it is partnering Popsockets to bring products designed by teens from the company's community programs to its store shelves. The electronics retailer will sell the teen-designed PopGrips in its stores as part of its "Black History Month" campaign. The campaign is intended to celebrate and encourage young artists. Goldman Sachs Group Inc. (GS) on Tuesday reported a fourth-quarter profit that more than doubled from last year, reflecting a surge in investment banking revenues and lower provisions for bad loans. Net revenues for the quarter rose 18 percent. Both quarterly earnings per share and revenues topped analysts' expectations.
RELATED NEWS
Follow RTT