Merlin Properties rise on 'good' Q1 results, 'solid' DC update

MERLIN Properties SOCIMI

14/05/2025 08:32

** Merlin Properties MRL.MC shares rise 3% after "good" Q1 results and "solid" data centre (DC) developments

** Sabadell says Q1 results were "good" with rental revenue and EBITDA growth of 7% and 11%, respectively

** J.P. Morgan notes Q1 funds from operations (FFO) of 0.15 euro per share seems to be tracking above guidance

** Both brokers point to DC developments, with Sabadell flagging phase 1 of DCs has already been pre-leased at 75%

** JPM says that Merlin is progressing well on DC developments by acquiring two additional sites in Madrid with secured power of 115 MW

** "Overall an encouraging update on all fronts which should be well taken by the market" JPM adds

** The shares hit top of Spanish blue chip index Ibex-35 .IBEX, highest since Feb 27

 (Reporting by Joanna Jonczyk-Gwizdala)

 ((joanna.jonczyk@tr.com))