Brief: Mercialys FY EBITDA Increases To EUR 144.7 Million

Mercialys SA

14/02/2022 17:32

Feb 14 (Reuters) - Mercialys SA  MERY.PA :
    * IN 2021, FULL-YEAR RETAILER SALES ACROSS MERCIALYS'
PORTFOLIO
CAME TO NEARLY 99% OF NORMALIZED LEVEL FROM 2019 OVER COMPARABLE
OPENING PERIODS
    * 2022 OBJECTIVES - EXCLUDING HEALTH SITUATION'S POTENTIAL
IMPACTS
ON OPERATIONS, MERCIALYS IS TARGETING GROWTH OF AT LEAST +2.0%
IN FUNDS FROM OPERATIONS (FFO) PER SHARE, WITH DIVIDEND TO RANGE
FROM 85% TO 95% OF 2022 FFO
    * CURRENT FINANCIAL VACANCY RATE CAME TO 3.2%, SIGNIFICANTLY
LOWER
THAN AT END-DECEMBER 2020 (3.8%), END-JUNE 2021 (4.0%) AND
END-SEPTEMBER 2021 (3.4%), HIGHLIGHTING APPEAL OF COMPANY'S
PORTFOLIO OF ASSETS
    * A PROPOSED DIVIDEND OF EURO 0.92 PER SHARE FOR 2021
    * FY INVOICED RENTS CAME TO EURO 170.4 MILLION, DOWN -1.5%
ON A
CURRENT BASIS, BUT UP +3.0% LIKE-FOR-LIKE
    * FY FUNDS FROM OPERATIONS (FFO) ARE UP +6.5% (+5.0% PER
SHARE),
SIGNIFICANTLY HIGHER THAN TARGET TO BE AT LEAST STABLE VERSUS
2020
    * 2021 RENTAL REVENUE CAME TO EURO 172.2 MLN, DOWN -1.8%
FROM
2020, REFLECTING CHANGE IN INVOICED RENTS, INCLUDING SCOPE
EFFECTS, AND DROP IN LEASE RIGHTS AND DESPECIALIZATION
INDEMNITIES
    * FY NET RENTAL INCOME IS UP +8.6% TO EURO 160.0 MILLION
    * FY EBITDA TOTALED EURO 144.7 MILLION, UP +10.3% FROM 2020
    * AT END-DECEMBER 2021, COMPANY'S PROJECT PORTFOLIO
REPRESENTED
EURO 493.8 MILLION LOOKING AHEAD TO 2027, WITH AROUND EURO 33.7
MILLION OF POTENTIAL ADDITIONAL RENTAL INCOME, FOR A TARGET
AVERAGE YIELD RATE OF 7%
    * AT END-DECEMBER 2021, DRAWN DEBT REPRESENTED EURO 1,354.5
MILLION
    * AVERAGE MATURITY OF DRAWN DEBT WAS 3.2 YEARS AT DECEMBER
31,
2021, COMPARED WITH 3.6 YEARS AT END-JUNE 2021 AND 3.5 YEARS AT
END-DECEMBER 2020

Source text for Eikon:  ID:nBw7y0Rka 
Further company coverage:  MERY.PA 

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