The Gneisenau departed Kiel 12 June 1939 and ventured around Jutland (I've often wondered why she did not use the canal and concluded that they must have been doing something here in that period, such as channel floor maintenance or repair on the locks at either Brunsbüttel or Holtenau) and then made a stop at Wilhelmshaven. Around the Danish peninsula, she was accompanied by the Deutschland, returning to Wilhelmshaven after trials in the Baltic. I presume Gneisenau might have topped out her fuel tanks here. She went through the English Channel and southwards past France and Spain and then made a brief sweep into the Mediterran, past Gibraltar, and thereafter set course towards the Canary Islands where she moored at the outer pier of the harbour in Las Palmas. After LP, she went south and I've boldly assumed that she carried out various exercises in the waters north of Cape Verde before heading towards Madeira and the port of Funchal. Unlike LP, she laid at anchor in Funchal and also had German officials on visit aboard. If I was to estimate the place of the picture above, I'd say it could have been taken while she was approaching Madeira, sometime after gunnery trials, and that you might actually see the contours of that coastline in the picture above. After Funchal she went further north and conducted anchor drills in between the islands of the Azores. I've yet not seen any photos that could suggest her making port here. After Azores, she set sail for home again and arrived in Kiel 26 July.
Btw, have you noticed the ship's band rehearsing at the port side of the hangar deck..?