Results of operations, financial position and net assets

Deutsche EuroShop can look back on another successful financial year. Revenue and profit were significantly up on the previous year. On the investment side, our acquisition of the A 10 Center, the Billstedt-Center and our increased stakes in City-Arkaden Wuppertal, Altmarkt-Galerie Dresden, City-Point in Kassel and Main-Taunus-Zentrum form a basis for strong growth in the years to come. We have maintained the solid financing structure of our Group. In addition to raising additional loans, we have also refinanced our investments by means of three capital increases.

Revenue rose by 13.0% to €144.2 million and, at €81.8 million, consolidated profit was 138% up on the previous year (2009: €34.4 million). This result was aided by measurement gains / losses which improved in comparison with the previous year (2009: €-14.8 million), rising by €47.9 million to €33.1 million. Adjusted for this effect, consolidated profit grew by around 16%. Earnings per share amounted to €1.80, doubling the result of the previous year (€0.88).

Net asset value per share fell slightly by 1.8%, from €26.63 to €26.16. This is solely attributable to the capital increases performed during the year under review, which led to an increase of 36.5% in the number of shares issued.

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