Brief: MRM FY Increase In Portfolio Value Of 3.5% To 162 Million Euros

MRM SA

24/02/2022 16:55

Feb 24 (Reuters) - MRM SA  MRM.PA :
    * FY ANNUALISED NET RENTS UP 5.6%
    * FY NET OPERATING CASH FLOW UP 33.6% (UP 33.1% VERSUS.
2019)
    * FY INCREASE IN PORTFOLIO VALUE OF 3.5% TO EUR 162.0M
    * FY NET LTV RATIO OF 40.0%
    * FY IMPROVEMENT IN ALL KEY INDICATORS * PHYSICAL OCCUPANCY
RATE
UP 3 POINTS AT 90% AND FINANCIAL OCCUPANCY RATE UP 4 POINTS AT
88%
    * PROPOSED PAY-OUT OF DIVIDEND OF EUR 0.09 PER SHARE
    * ANNUALISED NET RENTS TARGET OF OVER EUR 10M MAINTAINED,
DESPITE
DISPOSALS CARRIED OUT
    * COMPLETION OF VALENTIN SHOPPING CENTRE INVESTMENT
PROGRAMME
    * HEALTHY AND CONTROLLED FINANCIAL POSITION * EARLY
REFINANCING OF
ALL BANK DEBT WITH REPAYMENT DUE IN 2028
    * PHYSICAL OCCUPANCY RATE WAS 90% AS AT 31 DECEMBER 2021,
COMPARED
WITH 87% ONE YEAR EARLIER
    * WE HAVE REFINANCED ALL OF OUR BANK DEBT MATURING BETWEEN
JUNE
2022 AND JUNE 2023, UNDER SATISFACTORY TERMS REFLECTING QUALITY
OF OUR PORTFOLIO AND WITH A MATURITY PERIOD OF SEVEN YEARS
    * WE REITERATE OUR TARGET OF ANNUALISED NET RENTS OF AT
LEAST EUR
10 MILLION ON BASIS OF CURRENT PORTFOLIO
    * FINANCIAL OCCUPANCY RATE WAS 88% AS AT 31 DECEMBER 2021
COMPARED
WITH 84% ONE YEAR EARLIER

Source text for Eikon:  urn:newsml:reuters.com:*:nGNE29mGv4
Further company coverage:  MRM.PA 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))