Merlin Properties earns 481.8 million euros until September, 1.4% more

Merlin Properties earns 481.8 million euros until September, 1.4% more


MadridUpdated:

Merlin Properties has achieved a net profit of 481.8 million euros between January and September, 1.4% more than a year before, with an increase in revenues of 3.3%, up to 376.3 million, has informed the listed company of real estate investment (socimi).

The gross income they have rebounded 5.3% and added 371 million euros, while the recurrent gross operating profit (EBITDA) fell by 0.4% to 296.4 million, affected by the cancellation of the service contract with Testa Residencial.

At office segment, rents have increased 6.8% in renewals signed in the last year, with increases of 4.6% in Madrid, 17.2% in Barcelona and 6.4% in Lisbon. In the malls, rents have advanced by 4.1%, while in the logistics centers, contract renewals have shown average rent increases of 9.2%.

According to the same source, Merlin has already complied with the objective of investments and divestments announced to the market in February, with the sale of assets worth 588 million and a premium of 2.5%. Investments included the acquisition of the Almada shopping center (406.7 million) and the Torre Zen office building (33.3 million), both in Lisbon, as well as several logistics assets in the corridors of the A-2, the A-4, Valencia and Vitoria for 59.1 million.

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