Deutsche Konsum REIT-AG looks back on a solid business performance in the
first half of the 2023/2024 financial year

EQS-News: Deutsche Konsum REIT-AG / Key word(s): Half Year Results
Deutsche Konsum REIT-AG looks back on a solid business performance in the
first half of the 2023/2024 financial year

15.05.2024 / 07:10 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Press Release

Deutsche Konsum REIT-AG looks back on a solid business performance in the
first half of the 2023/2024 financial year

* Rental income up 2.9% to EUR 39.8 million

* Net rental income down by 6.5% to EUR 24.8 million

* FFO down 17% to EUR 16.5 million / FFO per share at EUR 0.47

  * Real estate portfolio comprises 183 properties and is valued at around
    EUR 1.0 billion / annual rent of EUR 78.1 million

* EPRA NTA per share at EUR 7.91

* Short-term prolongation of maturing bonds expected

* Net LTV at 61.4% as at the reporting date

Potsdam, 15 May 2024 - Deutsche Konsum REIT-AG (ISIN DE000A14KRD3) looks
back on a solid first half of the 2023/2024 financial year.

Rental income up / Decrease in Net rental income

In the first half of the 2023/2024 financial year, the Company's rental
income increased slightly by around 3% year-on-year from EUR 38.7 million to
EUR 39.8 million. This was mainly due to a slightly larger property
portfolio compared to the previous year and index-based rent increases.

In contrast, net rental income fell from EUR 26.5 million to EUR 24.8
million, which is primarily due to higher rental expenses.

Funds from operations ("FFO") decreased by 17.2% compared to the same period
of the previous year and amounted to EUR 16.5 million or EUR 0.47 per share
(H1 2022/2023: EUR 19.9 million or EUR 0.57 per share). This is mainly due
to increased interest expenses for variable-rate and newer financing. The
aFFO (FFO after deduction of capitalised modernisation measures) increased
by 25% to EUR 10.7 million, as fewer CAPEX measures were carried out
compared to the previous year. Further revitalisation measures are planned
in the coming quarters, which will contribute to significant economic
improvements in the key portfolio figures.

Balance sheet value of the real estate portfolio currently at around EUR 1.0
billion with an annual rent of EUR 78 million / Sale of a sub-portfolio
notarised

DKR's real estate portfolio as at 31 March 2024 comprises 183 retail
properties with a carrying amount of around EUR 994.8 million (30 September
2023: EUR 995.4 million) and a rental area of around 1,070,000 square
meters. As at the reporting date, the annualised rent amounted to EUR 78.1
million (30 September 2023: EUR 79.2 million).

The average purchase yield of the overall portfolio is currently around
10.0%.

No properties were purchased in the first half of the 2023/2024 financial
year. However, the property in Trier-Kenn was sold with a transfer of
benefits and encumbrances at the end of 2023. Furthermore, the sale of a
sub-portfolio of 14 properties was notarised at the end of March 2024. The
sales price achieved was around 4% below the IFRS carrying amount as at 30
September 2023 due to short-term maintenance requirements. The sales
transaction is expected to be completed by the end of June 2024. The
proceeds from the sale are earmarked almost entirely for the repayment of
bank liabilities and the partial repayment of maturing bonds. In addition,
DKR is currently examining further selective disposals in order to use the
proceeds to reduce debt.

Considering the notarised sales, the portfolio currently comprises 169
retail properties with an annual rent of around EUR 72.5 million on a pro
forma basis.

Refinancing of maturing bonds in final negotiations

DKR is now in final negotiations with the bondholders of the EUR 70 million
and EUR 35.9 million bonds, which are maturing in the short term and have
not been concluded yet. Until the final prolongation has been concluded, the
maturity date of the two bonds has therefore initially been extended to 30
June 2024 with the consent of the bondholder. The Management Board assumes
that the final extension will now take place in the short term.

EPRA NTA per share is EUR 7.91 / Net LTV is 61.4 %

The EPRA NTA per share has slightly increased to EUR 7.91 as at 31 March
2024 due to the positive half-year result (30 September 2023: EUR 7.64 per
share).

Net LTV amounted to 61.4% as at the reporting date and is therefore
currently above the target value of around 50%. However, the leverage ratio
is expected to fall below 55% again by the end of the 2023/2024 financial
year.

FFO forecast for the 2023/2024 financial year

Given the notarised sales transaction and the imminent extension of the
bonds, coupled with a significant repayment of debt, the outlook for the
further development of the financial year is now clearer. Based on current
planning, the Management Board therefore currently expects FFO (funds from
operations) of EUR 27 million to EUR 30 million (before possible further
property sales) for the full financial year 2023/2024.

Conference Call

Deutsche Konsum REIT-AG will hold an analyst conference (webcast and
conference call) on the results of the first half of the 2023/2024 financial
year today, 15 May 2024, 10:00 a.m. CEST/10:00 SAST. The corresponding
results presentation and further information on the webcast and the
conference call can be found at
https://www.deutsche-konsum.de/en/investor-relations. The half-yearly
financial report of the 2023/2024 financial year is available for download
under https://www.deutsche-konsum.de/en/investor-relations/financial-reports.

About Deutsche Konsum

Deutsche Konsum REIT-AG, Broderstorf, is a listed real estate company with a
focus on German retail properties for everyday goods at established
micro-locations. The focus of the Company's activities is on the
acquisition, management and development of local supply properties with the
aim of continuous performance and the leveraging of hidden reserves.

The shares of the Company are listed on the Prime Standard of the Deutsche
Börse (ISIN: DE000A14KRD3) and on the JSE (JSE Limited) (South Africa) by
way of a secondary listing.

Contact:
Deutsche Konsum REIT-AG
Mrs. Mareike Kuliberda
Investor Relations
Marlene-Dietrich-Allee 12b
14482 Potsdam
Tel: 0331 / 74 00 76 - 533
Fax: 0331 / 74 00 76 - 599
E-Mail: sf@deutsche-konsum.de


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15.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   Language:       English
   Company:        Deutsche Konsum REIT-AG
                   Marlene-Dietrich-Allee 12b
                   14482 Potsdam
                   Germany
   Phone:          +49 (0)331 740076517
   Fax:            +49 (0)331 740076599
   E-mail:         ch@deutsche-konsum.de
   Internet:       www.deutsche-konsum.de
   ISIN:           DE000A14KRD3
   WKN:            A14KRD
   Listed:         Regulated Market in Berlin, Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Dusseldorf, Munich,
                   Stuttgart, Tradegate Exchange; JSE Securities Exchange
   EQS News ID:    1902887

End of News EQS News Service
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1902887 15.05.2024 CET/CEST