HomeCoronavirusMerlin's Prof...

Merlin’s Profits Fall by 36% in Q1 as it Extends the Rent Subsidies for its Tenants

The Socimi earned €38.6 million in the first quarter, down by 36%, due to the sale of assets and its provisions for Covid that will have a lesser-than-expected impact on its commercial policy.

Complejo oficinas Vía Norte en Madrid de Merlin Socimi

New measures, provisions and a lower impact on its commercial policy. That is how Merlin Properties is facing the crisis generated by Covid-19, which has seen the majority of its commercial tenants having to close their premises.

Despite this, Merlin generated revenues of €131.8 million euros during the 3 months to March, down by 0.6%, whilst gross rents after incentives stood at €123.3 million, equivalent to 2.6% less.

B-Exclusives

Latest news

Iberia 300x600 1