Last year, Merlin Properties registered a total of 512.5 million euro in revenues, 505.3 million euro of which gross, «consolidating its recovery with solid results».
Merlin also registered a 377.2 million euro EBITDA, and 273 million euro in operational profits, during a year when rental aids issued to mitigate the effects of the pandemic reached 24.9 million euro.
The office segment remained in line with the previous year and the shopping centre segment had a «slight adju stment» of -1,6%. The portfolio’s net value is currently 7.567 million euro, 16.11 euro per share, 4.2% more than in 2020.
210 million euro in dividends were distributed amongst the shareholders, which left the LTV at 39.2% and the liquidity position at 1.811 million euro, with an average debt maturity of 5.3 years.
In terms of the whole year, rental prices evolution reached -1.2%, above the -2.9% registered during the year’s second half and the -2.1% registered during its first 9 months, «thanks to the portfolio’s occupancy stabilisation», which remains at 90.1%.
According to Merlin, the Landmark I investment plan is near its conclusion, with the delivery of Castellana 85, in Madrid, and the Monumental building, in Lisbon, 100% occupied. «Thanks to this valuation plan, an additional 20 million euro were generated in rents and 475 million euro in valuation».
The company is now preparing to kick off start centres’ investment Mega Plan, beginning in the Basque Country.
