Merlin Properties SOCIMI S A : 6M 2021 Results Presentation
07/29/2021 | 04:29pm EDT
6 M 2 0 2 1 R E S U L T S
P R E S E N T A T I O N
3 0 J U L Y 2 0 2 1
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6M21 Financial results Offices
Logistics Shopping centers Valuation and debt position Sustainability
Digital Infrastructure Plan Closing remarks
Key highlights |
FFO per share in the period of €0.27. An improving pattern (+4.1% 2Q vs 1Q) that will continue in 3Q and 4Q. 2021 guidance reconfirmed (€0.56 per share)
Valuations flat vs Dec-20, with offices and logistics on the positive territory while retail down by 1.5%
Distribution to shareholders of €0.30 per share driving LTV to 40.5%
€ 500m bond issued (9 years) for the repayment of the bond maturing in 2022 with c.100 bps of cost savings
After a decline in occupancy in the first semester, offices should recover slightly for the second half of the year
Very strong performance in logistics after a record high leasing activity of +275k sqm (c.50% market share) resulting in a hike in occupancy of +151 bps vs 3M21
Shopping centers are performing better than expected with good signs for the future: release spread of +5.9%, high retenanting rate of spaces vacated since March-20 and 50% of 2022 maturities already out of risk
Landmark I almost complete. Castellana 85 and Monumental already delivered and fully occupied at compelling returns. Plaza Ruiz Picasso works starting now
Flagship completed. Porto Pi and Saler delivered on track with business plans
Best II & III: All assets delivered are 100% let, with additional c.90k sqm of pre- lets in the period
Launch of Digital Infrastructure Plan (Mega) for the construction and operation of 4 Data Centers
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6 M 2 1 F I N A N C I A L R E S U L T S
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MERLIN Properties SOCIMI SA published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 20:28:05 UTC.