Deutsche Konsum REIT (DKG) investor relations material

Executive summary

• Rental income declined 7.2% year-over-year to €32.9 million, mainly due to asset sales.

• FFO rose 64% to €13.2 million, with FFO per share stable at €0.20.

• Net income increased to €6.5 million from €1.0 million year-over-year; EPS (diluted) up to €0.10.

• Major restructuring included a debt-to-equity swap, reducing financial liabilities by €119 million and increasing equity by the same amount.

• Issued 59.6 million new shares, with VBL becoming the largest shareholder at 60.53%.

Financial highlights

• Rental income: €32.9 million (down from €35.4 million); FFO: €13.2 million (up from €8.0 million).

• Net rental income rose 32.6% to €23.8 million, driven by lower operating expenses.

• EBIT increased 19.6% to €16.5 million; net income surged to €6.5 million from €1.0 million.

• EPRA NTA per share (fully diluted): €4.04 (down from €6.17 at 31 Dec 2025).

• Total financial debt reduced to €339.5 million (from €471.1 million at 30 Sep 2025).

Outlook and guidance

• Rental income for FY 2025/2026 expected to decline to €58–63 million due to ongoing disposals.

• FFO expected to increase, but timing and pricing of property sales introduce uncertainty.

• Restructuring plan remains on track, with continued asset sales planned to further reduce debt.

• Management remains optimistic despite ongoing challenges in executing asset sales due to market conditions.

• 84% of rents are CPI-linked, supporting cash flows in inflationary conditions.