Changes in MERLIN Properties management team
Madrid, 9th of December.- MERLIN Properties announces changes in their management team to replace three key executives in the Company who will soon reach their retirement age. David Brush, founder of MERLIN Properties and up until now Chief Investment Officer (CIO) of the Company, will retire on the 28th of February 2021, after nearly 40… Leer más »
MERLIN reports solid operational numbers despite the pandemic
– Gross rents: €380.9 million (-3.5% YoY and +1.4% LfL)
– EBITDA: €275.7 million (-13.0% YoY)
– Operating profit (“FFO”): € 197.3 million (-16.8% YoY)
– NAV per share: €15.77 (+3.3% YoY)
MERLIN weathers the Covid-19 impact with resilience
– Total revenues: € 259.4 million (-2.2% YoY)
– EBITDA: € 184.1 million (-12.5% YoY)
– Operating profit (“FFO”): € 134.3 million (-14.6% YoY)
– NAV per share: €15.68 (+3.8% YoY)
MERLIN Properties: AGM on June 17th, dividend of 15 cents per share and additional 17 cents delegated to the Board of Directors
• MERLIN Properties will hold its AGM on June 17th, where a complimentary dividend of 14.6 cents per share, payable in cash, will be proposed for approval. It will also be proposed a further remuneration to shareholders of 17.4 cents per share, payable in cash and to be distributed by way of share premium refund. This last distribution will be delegated to the Board of Directors, who will decide on its effective implementation in view of the evolution of the coronavirus pandemia.
• The Board of Directors have decided to reduce their compensation by 25% and has agreed with the CEO, General Corporate Manager and all members of the senior management team the initiative to waive all the variable compensation and stock plan corresponding to 2020.
• Following the positive reinforcement of MERLIN’s rating by S&P (BBB) and Moody’s (Baa2), the company has disclosed and limited its future Capex commitments to those projects currently under execution and with pre-lets in place, capable of generating additional rents in the short to medium term.
• MERLIN Properties reiterates its commitmment with tenants whose stores have been forced to close and continues working towards helping, to the extent possible, in fighting the pandemia. The company and its staff have fully funded the purchase of 4 robots for PCR massive testing of coronavirus, which are now operating in the Carlos III Health Institute, and the medical centres of La Paz, in Madrid, and Vall d’Hebron and Clinic in Barcelona.
MERLIN Properties increases its operating profit by a strong 9.2%, to 313 million euros
– Gross rents: € 525.9 million (+5.2%)
– EBITDA: € 425.5 million (+5.4%)
– Gross asset value: € 12,751 million (+5.9%)
– Net asset value per share: € 15.60 (+5.4%)
– Operating profit (“FFO”): €313.3 million (+9.2%)
– Guidance to dividend in 2020: € 52 cents per share
MERLIN Properties’ shares to start trading in Portugal
The company will be listed on the regulated market of Euronext Lisbon
It is the first dual listing of a Spanish company in this sector
MERLIN Properties sells a portfolio of 26 office buildings for €225 million
Disposals in 2019 amount to €281 million, exceeding the divestment plan for the year