Merlin Properties with an accumulated turnover of 203 million euros up to September

Merlin Properties closed the third trimester of the year with an accumulated turnover of 236.7 million euros and a recurring EBITDA re (gross benefit before taxes and amortization of 202.5 million.

SOCIMI states that, upon meeting EPRA standards its result in cash terms is 148.5 million euros. The consolidated net profit in accordance with international regulations for financial information (IFRS) is 254.9 million euros.

However, these results do not include the integration of Metrovacesa the split and transfer en masse of their commercial assets were completed in October.

The net asset value, according to EPRA (“EPRA NAV”) recommendations amounts to 3,458.7 million euros (10.71 euros per share). The company points out that there has not been a new valorisation of the assets this trimester (this takes place in June and December each year). The net value of pro-forma assets after the merger with Metrovacesa will rise to to 10.92 € per share.

In the first nine months of the year, Merlin has formalised rental contracts for 469,118 m2, of which 145,643 m2 comprise new contracts and 323,475 m2 renewals.