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Merlin’s Revenues and Occupancy Rates Grew in Q1 2022

In addition, it maintained its cash retention policy, which served to slightly reduce its debt down to a loan to value of 38.8%.

ismael clemente ceo merlin socimi

Merlin Properties is meeting expectations. The Socimi led by Ismael Clemente closed the first quarter of the year with an improvement in terms of its rental income and operating profit compared to the same period in 2021.

At a presentation delivered to the CNMV, the Socimi reported rental income of 113.9 million euros, up by 8.2% compared to the same period in 2021. In addition, it achieved an operating profit of 79.7 million euros, which was 26% higher than during the first three months of last year.

Read the full article in Spanish.

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