MERLIN Properties SOCIMI, S.A. (MRPRF) Q1 2025 Earnings Call Transcript

2025-05-14 13:44:09 ET

MERLIN Properties SOCIMI, S.A. (MRPRF)

Q1 2025 Earnings Conference Call

May 14, 2025 09:00 AM ET

Company Participants

Ines Arellano - Director, Investor Relations

Ismael Clemente - Chief Executive Officer

Francisco Rivas - Director

Conference Call Participants

Stéphanie Dossmann - Jefferies International

Marios Pastou - Bernstein

Fernando Abril - Alantra

Alex Kolsteren - Kempen

Ana Escalante - Morgan Stanley

Presentation

Ines Arellano

Good afternoon, ladies and gentlemen. Welcome and thank you for joining MERLIN's First Quarter Trading Update Conference Call. As we always do on first and third quarter, our CEO, Ismael Clemente will briefly go through the main highlights of the quarter and then we'll open the line for Q&A. [Operator Instructions].

With no further delay, I pass the floor to Ismael. Thank you.

Ismael Clemente

Thank you, Ines. Welcome to MERLIN's first quarter results presentation. It's been a pretty solid quarter overall. In terms of consolidated performance, gross rents went up by 2.7%, which was okay? And particularly, we improved significantly our margins and the FFO went up by almost 17%, which is good.

We have significantly shrunk the dilution caused by the capital increase. So we are running at present at minus 2.6% FFO per share, which is remarkable given the new share count. And in terms of NTA despite nothing revalued in the quarter, we are running at minus 4.8%....

Read the full article on Seeking Alpha

For further details see: