Deutsche Konsum REIT (DKG) investor relations material

Executive summary

• New CEO with extensive real estate and finance experience took over in July, emphasizing restructuring, balance sheet strength, and transparent communication.

• Initiated a comprehensive restructuring process, including a debt-to-equity swap, significant property disposals, and a capital increase raising shares to 109.9 million.

• Operational business remained stable despite challenging market conditions, with FFO increasing by 46% to €14.5M, though FFO per share fell due to a higher share count.

• Portfolio revaluation led to a valuation loss of EUR 41.6 million, reflecting a 5.7% decrease.

• Realized property sales of approximately EUR 78 million since restructuring began, with further disposals planned.

Financial highlights

• Rental income for 9M 2025/2026 was EUR 47.99 million, down 8.9% year-over-year due to property disposals.

• Net operating income decreased slightly by EUR 0.6 million year-over-year; net rental income was EUR 29.18 million, down 2.1%.

• FFO increased 46.2% to EUR 14.46 million, while FFO per share dropped to EUR 0.18 due to a higher share count.

• Net loss for the period improved to EUR -25.68 million from EUR -32.61 million year-over-year; EPS improved to EUR -0.32 from EUR -0.78.

• Interest expense fell significantly by EUR 8–10.7 million year-over-year.

Outlook and guidance

• Focus remains on executing restructuring measures, particularly property sales of up to EUR 220 million over the next 15 months.

• Rental income for the full year is expected to decline to EUR 58–63 million due to disposals, while FFO is forecasted to moderately increase.

• Confidence expressed in completing required disposals to stay on track with the restructuring plan.

• Vacancy rate may rise slightly, with WALT expected to remain stable.

• Ongoing market conditions are causing delays in transaction completions.