Deutsche EuroShop FY18 FFO Up

(RTTNews) - Deutsche EuroShop Wednesday reported full-year 2018 funds from operations of €150.4 million or €2.43 per share, compared with €148.1 million or €2.54 per share last year.

Earnings before interest and taxes (EBIT) increased by 3.5% from €192.4 million to €199.1 million.

Consolidated revenue was up 3.0%, from €218.5 million to €225.0 million.

"We are pleased with the positive trend in the operating figures, which were achieved in a market environment which remains challenging for bricks-and-mortar retailing. Our occupancy rate remains very high at around 99% and in addition to the positive impact of the portfolio expansion, revenues from the other shopping centers were up slightly by 0.4%," explained Wilhelm Wellner, CEO of Deutsche EuroShop.