Deutsche EuroShop

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Deutsche EuroShop AG
TypeAktiengesellschaft
FWB: DEQ
IndustryRealty
Founded1999
HeadquartersHamburg, Germany
Key people
Claus-Matthias Böge (CEO), Manfred Zaß (Chairman of the supervisory board)
ProductsInvestment in shopping centers
Revenue€224.1 million (2020)[1]
€124.0 million (2010)[2]
€80.4 million (2010)[2]
Total assets€2.964 billion (end 2010)[2]
Total equity€1.250 billion (end 2010)[2]
Number of employees
4 (average, 2010)[2]
Websitewww.deutsche-euroshop.de

Deutsche EuroShop AG is a German-based international real estate investment company headquartered in Hamburg. It is the largest German investor in shopping centers,[3] and the country's only publicly traded company to do so exclusively. At the end of 2010 the firm held investments in 18 properties, of which 14 were in Germany, two in Poland and one each in Austria and Hungary.[2]

The company's shares have been listed on the Frankfurt Stock Exchange since January 2001 and form part of the small-cap SDAX index.

History[]

The company was founded on October 10, 1997 as a pure shelf company with the name TORWA Beteiligungs AG. The company's name was changed to Deutsche EuroShop on August 21, 2000. At that time, Deutsche Grundbesitz Management GmbH was the sole shareholder and provided the company with EUR 580 million as a capital reserve with no obligation in return, which Deutsche Grundbesitz Management GmbH, DI Deutsche Immobilien Treuhandgesellschaft and DB Immobilienfonds Kappa Dr. Rühl KG acquired the stakes in eight shopping centres.[4] The management was operated in 2001 by ECE Projektmanagement GmbH & Co. KG.

Deutsche EuroShop AG has been listed on the German stock exchange since January 2, 2001, and the entire proceeds from the issue went to Deutsche Grundbesitz Management GmbH (later name change to DB Real Estate), a subsidiary of Deutsche Bank. The chairmen of the board were Knut Neuss and Jürgen Wundrack, and the chairman of the supervisory board was Helmut Ullrich. On April 15, 2003, the company was included in the Prime Standard and on July 14, 2003 in the SDAX. It was included in the EPRA index on January 2, 2004 and, since September 20, 2004, in the MDAX, which it had to leave on September 23, 2019. Since then, it has been on the SDAX again. There is also a listing in the North German regional index HASPAX. On November 10, 2005, the company received approx. EUR 67 million from a capital increase.[5] Further capital increases followed on July 7, 2009 and on February 1 and November 23, 2010, which brought the company a total of 322 million euros. In November 2012, Deutsche EuroShop AG generated proceeds of around EUR 167.7 million from the placement of a convertible bond and shares from a capital increase.[6] The convertible bond was finally converted to 99.5% in November 2017, the total number of shares was 61,783,594.[7]

Due to the COVID-19 pandemic, Deutsche EuroShop suffered loss of rent of 24.2% in the first half of 2020. The valuation of real estate assets was also devalued by an average of 5.5%.[8]

Shareholder structure[]

At the end of 2016, the Supervisory Board held 9,683,163 (17.6%) shares, the Management Board none.

In April 2017, the company had around 14,500 shareholders and a free float of 82.4%.

In the 2020 financial year, the company's share capital was divided into 61,783,594 shares. 20.03% of them are owned by the mail order heir Alexander Otto.

Corporate governance[]

Board[]

The board consists of the following members:

Wilhelm Wellner, Spokesman for the Management Board (since July 2015 Spokesman, since February 2015 member of the Management Board)

Olaf Borkers (member of the Management Board since 2005)

Supervisory board[]

The supervisory board consists of nine members. The chairman is Reiner Strecker and his deputy Karin Dohm.

References[]

  1. ^ AG, Deutsche EuroShop. "Deutsche EuroShop AG Geschäftsbericht 2020 D". www.deutsche-euroshop.de (in German). Retrieved 2021-07-12.
  2. ^ Jump up to: a b c d e f "Annual Report 2010" (PDF). Deutsche EuroShop. Retrieved 5 May 2011.
  3. ^ Brandt, Nadja; Haxel, Stephanie (10 February 2009). "Continental, E.ON, Lufthansa, Douglas, Singulus: German Preview". Bloomberg. Retrieved 30 May 2010.
  4. ^ Beck, Michael (2001-01-11). "Deutsche EuroShop AG". DIE WELT. Retrieved 2021-06-09.
  5. ^ "DGAP-Adhoc: Deutsche EuroShop AG (deutsch)". FinanzNachrichten.de (in German). Retrieved 2021-06-09.
  6. ^ "Deutsche EuroShop: Platzierung von Wandelschuldanleihe und Aktien erfolgreich abgeschlossen". finanzen.net (in German). Retrieved 2021-06-09.
  7. ^ "Newsroom - Corporate News - Deutsche EuroShop". www.deutsche-euroshop.de. Retrieved 2021-06-09.
  8. ^ "Newsroom - Corporate News - Deutsche EuroShop". www.deutsche-euroshop.de. Retrieved 2021-06-09.

External links[]


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