May 11, 2017 / 4:22 PM / 3 years ago

BRIEF-Deutsche Euroshop proposes dividend of EUR1.45 per share for 2017

May 11 (Reuters) - Deutsche Euroshop AG

* Deutsche Euroshop, 1st quarter 2017: increase in earnings due to portfolio expansion and refinancing arrangements

* Increase in earnings due to portfolio expansion and refinancing arrangements

* Significant reduction of average loan interest rate to below 3.0 percent

* revenue: EUR50.7 million (±0%), EBIT: EUR44.3 million (-0.7 percent)

* Consolidated profit: EUR27.5 million (+10.6 percent)

* EPRA earnings per share: EUR0.60 per share (+9.1 percent)

* FFO: EUR0.62 per share (+6.9 percent)

* Revenue in first three months of 2017 totalled EUR50.7 million, which remained on par with previous year

* Net operating income (noi) fell slightly by 0.3 percent to EUR45.8 million

* EBIT dropped 0.7 percent to EUR44.3 million due to acquisition costs for olympia center

* Earnings before taxes and measurement gains/losses, however, increased from EUR32.7 million to EUR35.3 million (+7.8 percent).

* Consolidated profit was up 10.6 percent from EUR24.9 million to EUR27.5 million

* Earnings per share rose accordingly from EUR0.46 to EUR0.50.

* Earnings per share calculated according to epra (epra earnings) rose by 9.1 percent from EUR0.55 to EUR0.60

* Figure for funds from operations (FFO) improved by 6.9 percent from EUR0.58 to EUR0.62 per share

* Forecasts 2017 revenue of between EUR216 million and EUR220 million

* Forecasts 2017 earnings before interest and taxes (EBIT) of between EUR187 million and EUR191 million

* Forecasts 2017 earnings before taxes (EBT) excluding measurement gains/losses of between EUR145 million and EUR148 million

* Forecasts 2017 funds from operations (FFO) of between EUR140 million and EUR143 million or from EUR2.42 to EUR2.46 per share

* Company envisages paying a dividend of EUR1.45 per share for 2017 Source text for Eikon: Further company coverage:

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