Merlin earned 70.94 million euros in the first semester, 73% less due to atypical

The SOCIMI estimates that the operating profit at the end of the year will be 250 million

The SOCIMI Merlin Properties has obtained a net profit of 70.94 million euros in the first half of 2020, 73% less than that registered the previous year, due to the atypical (assets sold and less revaluation of assets this year than the past). Excluding atypicals, the net profit amounts to 87.2 million euros, 30% lower than the first half of 2019 (124.3 million)

The company's ebitda was 184.1 million, 12.5% less than in the same period of 2019. For its part, Merlin's total revenue reached 259.4 million, which represents a decrease of 2, 2% compared to the first semester of the previous year.

As a result of the coronavirus, the company implemented a commercial policy to help its retail tenants overcome the crisis. The impact of this measure during the first semester was 27.8 million euros.

The average occupancy of the company's portfolio stood at 93.9%, the same levels prior to the coronavirus. In the office business it was 90.9%, in logistics it reached 96.8% and in shopping centers it reached 94.1%.

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The net value of the assets of the real estate company remains at the December values, 7,365 million (15.68 euros per share), which represents an increase of 3.8% in the last year.

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The company has calculated the impact of the coronavirus on cash flow for a maximum of 60 million euros, with which they estimate that the operating profit for 2020 will be 250 million euros.