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    MRL   ES0105025003

MERLIN PROPERTIES SOCIMI, S.A.

(MRL)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 07/23 03:59:58 pm
9.427 EUR   +1.87%
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Merlin Properties SOCIMI S A : Changes in MERLIN Properties management team

12/11/2020 | 08:17am EDT

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 years of his professional career devoted to the real estate sector, in which he has held positions of maximum responsibility in Bankers Trust Company, Deutsche Bank and Brookfield, before landing in Spain in 2014 on the grounds of MERLIN Properties IPO.

Javier Zarrabeitia, up until now head of the Office division, will retire on the 31st of December 2020, after more than 40 years of brilliant career in the office sector, having worked in Prima Inmobiliaria, pioneer in the listed property sector in Spain, afterwards in Testa, and finally in MERLIN Properties after the integration of both companies in 2015.

Fernando Lacadena, head of Finance, will also retire on the 31st of March 2021, after having held very successful management positions in the area of auditing and finance, in Arthur Andersen, Sacyr Vallehermoso and Testa, having also joined MERLIN Properties in 2015.

Mr. Brush will continue to provide services to the Company as a senior advisor and will join a special committee, which will advise the management team, in which Mr. Zarrabeitia and Mr. Lacadena will also be a part of.

The internal coverage of their roles will be as follows: Fernando Ferrrero will become head of the Office division; the tasks performed by Fernando Lacadena will be assumed by the Corporate General Management team and the Financial Management team led by Miguel Ollero and the ones attributed to David Brush will be assumed by Ismael Clemente, CEO.

Furthermore, Jose Miguel Setíen, experienced professional from JLL, has joined the company in quality of head of leasing in the Office department, and David Martínez, has also joined the company as head of hospitality and user experience, after a brilliant career in the hotel sector as an executive in the Ritz Carlton chain.

About MERLIN Properties

MERLIN Properties SOCIMI, S.A. (MC:MRL) is the largest real estate company trading on the Spanish Stock Exchange. Specialized in the acquisition and management of commercial property in the Iberian region. MERLIN Properties mainly invests in offices, shopping centers and logistics facilities, within the Core and Core Plus segments, forming part of the benchmark IBEX-35, Euro STOXX 600, FTSE EPRA/NAREIT Global Real Estate, GPR Global Index, GPR-250 Index, and MSCI Small Caps indices.

Please visit www.merlinproperties.com to learn more about the company.

For further information please contact:

Nuria Salas, nsalas@tinkle.es, +34 629 56 84 71

Sarah Estébanez, sestebanez@tinkle.es, +34 636 62 80 41

Press release - Changes Management Team

Disclaimer

MERLIN Properties SOCIMI SA published this content on 11 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 December 2020 13:16:00 UTC


© Publicnow 2020
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Financials
Sales 2021 506 M 596 M 596 M
Net income 2021 -143 M -168 M -168 M
Net Debt 2021 5 567 M 6 551 M 6 551 M
P/E ratio 2021 -77,5x
Yield 2021 3,70%
Capitalization 4 371 M 5 142 M 5 144 M
EV / Sales 2021 19,6x
EV / Sales 2022 18,9x
Nbr of Employees 220
Free-Float 67,5%
Chart MERLIN PROPERTIES SOCIMI, S.A.
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Merlin Properties SOCIMI, S.A. Technical Analysis Chart | MRL | ES0105025003 | MarketScreener
Technical analysis trends MERLIN PROPERTIES SOCIMI, S.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 9,40 €
Average target price 9,58 €
Spread / Average Target 1,89%
EPS Revisions
Managers and Directors
Ismael Clemente Orrego Vice Chairman & Chief Executive Officer
Fernando Lacadena Azpeitia Chief Financial Officer
Francisco Javier García-Carranza Benjumea Non-Executive Chairman
Miguel Ollero Barrera Chief Operating Officer, Executive Director & MD
David Brush Chief Investment Officer
Sector and Competitors