Merlin properties annual report 2020. MERLIN Properties SOCIMI, S.
Merlin properties annual report 2020 1 55 Table of Contents 57 96. Specialized in the acquisition and management of commercial property in the Iberian region. Report by Board of Directors on ratification and reelection Dña. Resolution proposals. Proposal and report of the Appointment Committee on the amend of the Board Regulations. L. Furthermore, this is the first year that MERLIN has participated in the CDP questionnaire. 2020 Individual financial statements – MERLIN Properties. 1 million (including gross rents of €505. Annual General Meeting 2016 Follow-up. 's (MRL) investor relations materials including 2024 annual reports, financial statements, ESG data, and company filings. MERLIN Properties closes a strong first quarter with gross rents amounting to 124. Annual Report. Juan MERLIN Properties Annual Report 2022 1 84 Table of Contents 86 144 MERLIN Properties | 85 MERLIN collects information on energy consumption of its assets under operational control, assets not under operational control, MERLIN’s headquarters in Madrid and the LOOM spaces in Huertas and Salamanca. 6 million, +3. - Amendment of Bylaws. 2023 Annual Report. 3) (12. Call notice for the 2024 Shareholders’ Meeting. 1 Explain the Company’s compensation policy. 4m. The company aims to remunerate the shareholders through a combination of annual dividend distribution and value enhancement of the EPRA NAV of the Company. MERLIN Properties Annual Report 2020 / English | 77 MERLIN has also rolled out other | 81 EPRA EARNINGS EPRA METRICS (€ thousand) Notes Consolidated net profit in accordance with IFRS 56,358 Adjustments to calculate EPRA earnings 181,575 (i) changes in value of investment properties 7 86,112 (ii) gain/(losses) on disposal of assets Consolidated income statement 14,300 (iii) absorption of revaluation on investment properties - (iv) non recurring taxes n. Consolidated financial statements – MERLIN Properties 2018. 8 1,060. Individual and consolidated financial statements and auditor´s report – MERLIN Properties 2016. 2022 has been a year of much change in the macroeconomic environment in which MERLIN Properties operates, for the frst time in many years, we fnd MERLIN Properties Annual Report 2021 1 8 Table of Contents 10 100 MERLIN Properties | 9 Following a difficult 1H, operating performance improved through the year, leading to a beat in the FFO guidance provided to the market. About MERLIN Properties. 0m at 5% premium vs. Individual financial statements – MERLIN Properties 2018. Nov 12, 2020 · Despite the surge in cases and the new restrictions imposed in many regions, towns and basic health areas in both Spain and Portugal, MERLIN Properties is on track to match or exceed the 2020 operating profit shared to the market at the beginning of the pandemic (€ 250 million or € 53 cents per share). 0% 5,920 +19. Reports. 1 52 Table of Contents 54 100. 3 million), recurring EBITDA of €377. 2022 Annual Report. Annual Shareholders’ Meeting The Board of Directors of Merlin Properties, SOCIMI, S. This section will include information on: - General foundations and principles of the compensation policy. 3 34. Total number MERLIN Properties Annual Report 2020 / English 1 85 Table of Contents 87 96 86 | Annual Report | 2020 The reconciliation with IFRS appears in the table thereafter. No. 4 0. Javier García-Carranza Non-Executive Chairman Dear shareholders, It is my pleasure to present to you MERLIN Properties’ 2020 Annual Report, which includes the annual financial statements and all of the information relevant to the 2020 fiscal year. 4%) 19,803 +1. 4m, FFO of €201. Ismael Clemente Orrego 1 85 Table of Contents 87 142 85 Table of Contents 87 142. Table of Contents 1 96. 24 | Annual Report | 2020 The release spread achieved in the contracts renewed or relet in the period amounts to 3. 3 million, representing a 168. was worth EUR 11. 2020 Consolidated financial statements – MERLIN Properties. Item Thirteen. Responsible declaration of the directors . - Delegation of powers to the Board of Directors. 6 years from 31 December 2019, weighted by each tenant rents) The Company also expects to continue with the acquisition 4 | Corporate Social Responsibility Report | 2020 Ismael Clemente Dear Shareholder, As we look back at the events that have unfolded since the beginning of the pandemic, we at MERLIN Properties (hereinafter, "MERLIN" or the "Company") have never been more convinced of the importance of sustainability management as MERLIN Properties | 73 With regard to sustainability reporting, MERLIN received the Gold Award from EPRA for the fourth year in a row. a. Table of Contents 1 144. MERLIN aims to manage responsibly its activity, ensuring the attainment of sustainable goals and the creation of shared value for its stakeholders, while at the same time guaranteeing strict compliance with the legislation as well as the international standards to which the company adheres. Report by Board of Directors on ratification and reelection D. T: +34 91 769 19 00. 0 Gross asset value 6,470. 2 million (€0. 2 million, up 4. Asset Tenant G. a-86977790 company name: merlin properties, socimi, s. 6 | Annual Report | 2021 Mr. Individual financial statements – MERLIN Properties 2017. Feb 24, 2022 · MERLIN Properties has reported FY21 results, with total revenues of €512. MERLIN PROPERTIES’ ESG STRATEGY Data in like for like terms (1) Data in absolute terms Data 2020 Change 2019-2020 Data 2020 Change 2019-2020 Energy consumption in GJ 82 | Annual Report | 2020 (€ million) Offices Shopping centers Logistics Asset value 6,322. Report on item twelve. on 17 June 2020 (and subsequently amended by the Annual General Meeting held on 27 April 2021). Jul 29, 2021 · Madrid, 29 th July – MERLIN Properties reported 6M21 results, with total revenues of €252. April 2020 Liquidity contract report. The Annual report includes the Annual Financial Statements and the relevant information relating to the 2022 fscal year. 0 Exclude WIP & Land (700. It has also demonstrated its extensive efforts in ESG thanks to the high scores obtained in quality seals such as GRESB and CDP, and EPRA’s recognition of its CSR report. Location map Annual Report of MERLIN Properties (“MERLIN” or the “Company”). This is evidenced by the programmes rolled out by the Company to power the development of the communities in which it is present and in which its employees actively engage. was approved at the Company’s Annual General Meeting held on 17 June 2020 in accordance with section 529 novodecies MERLIN Properties Annual Report 2023 1 99 Table of Contents 101 142 100 | Annual report | 2023 Sustainability ratings MERLIN regularly participates in various sustainability benchmark indices, which reflect the advances made by the Group and the effectiveness of the steps taken in both internal management and asset management. 6 76. (also referred to as the "Company", the "Group" or "MERLIN"), I am pleased to present the Annual Directors’ Remuneration Report (the "Report" or "ADRR"), which will be subject to advisory voting at the General Meeting 2023 . Item Twelve. 7 million (including gross rents of € 248. 0 million (€58 cents per share). Consolidated financial statements – MERLIN MERLIN Properties Annual Report 2022 1 66 Table of Contents 68 144 | 67 Outlook R&D&I activities In the absence of externalities, the three main asset classes (offices, logistics and shopping centers) are expected to maintain occupancy levels, while rents will continue to benefit from rising inflation as leases are indexed to CPI. Pilar Cavero. (“Merlin”), and its group companies, have adjusted their internal processes and payment time-periods to the provisions of legislation to combat late payment in commercial transactions. 2021 Individual financial statements – MERLIN Properties. (the "Company", the "Group" or "MERLIN") I am pleased to present the Annual Directors' Remuneration Report (the "Report") to you. 2024 AGM Presentation. 81% also have ISO 14001 or 50001 environmental quality certifications. Cover : 1: Index : 5: Letter from the Chairman Agency Rating Outlook Last update Previous; Baa1: Stable: 10/02/2024: Baa2 Positive: BBB+: Stable: 03/26/2024: BBB Positive MERLIN Properties | 65 Waste generation in offices Waste generation in shopping centres Waste generation in logistic assets Absolute waste generation by asset MERLIN Properties Annual Report 2023 1 84 Table of Contents 86 142 MERLIN Properties | 85 (1) The total surface area of the assets has been considered in the calculation of energy intensity, except in those cases where MERLIN only has control over the management of consumption in the common areas, in which case only the surface area of these annual corporate governance report for listed companies issuer identification year end date 2020 tax id no. 2020 will go down in history as the year of the Covid-19 pandemic outbreak. • From the 2022 Annual General Meeting date until 31 December 2022, the new Remuneration Policy, which will be submitted to the 2022 Annual General Meeting, will be applicable, once it has been MERLIN Properties Annual Report 2020 / English. MERLIN Properties – May 2020 Liquidity MERLIN Properties Annual Report 2021 1 71 Table of Contents 73 100 72 | Annual Report | 2021 Moreover, during 2021, MERLIN has invested a total of €645,763 to obtain, maintain and extend these certifications, as part of the Company’s commitment to effectively incorporate sustainability into the management of its assets. Annual Corporate Governance Report Annual Report on Remuneration for Directors 1 Dear Shareholders: On behalf of the Remuneration Committee of MERLIN PROPERTIES, SOCIMI, S. Annual Report 2015. 27 per share). 1 49 Table of Contents 51 96. Item Two- Allocation MERLIN Properties Annual Report 2020 / English. 4 years from 31 December 2020, weighted by each tenant rents) The Company also expects to continue with the rotation strategy (acquisition and MERLIN Properties Annual Report 2020 / English 1 24 Table of Contents 26 96 | 25 Total take-up amounts to 155,572 sqm, out of which 136,657 sqm correspond to new contracts and 18,915 sqm to renewals. MERLIN Properties Annual Report 2021 All of our properties have earned the industry's strictest sustainability, well-being and quality certificates. 2019 was a very positive year for the . 1 76 Table of Contents 78 96. A. Location map MERLIN Properties Annual Report 2020 / English 1 64 Table of Contents 66 96 | 65 With these new certifications the current status of the portfolio relating to sustainable construction certification is as follows: In 2020, MERLIN invested a total amount of € 824,000 in sustainable certification (2) . 0 Commercial property portfolio GAV 5,770. MERLIN Properties Annual Report 2020 / English 1 71 Table of Contents 73 96 72 | Annual Report | 2020 With a highly productive workforce, professionals are solidly committed to the Company’s project and are aligned to deliver on its objectives. Specialized in the acquisition and management of commercial property in the Iberian annual corporate governance report of listed public limited companies issuer identification details year end-date 2022 tax id (cif) a-86977790 company name: merlin properties, socimi, s. registered office: paseo de la castellana, 257, madrid May 26, 2014 · In 2023, the asset portfolio of Merlin Properties SOCIMI, S. -. MERLIN Properties Annual Report 2023 MERLIN Properties Annual Report 2021. Interactive Book. 2023 AGM Presentation. Current profile of MERLIN Properties’ employees (1) (1) Data at 31 December 2020, except for average training hours per employee. We hold LEED and BREEAM certifications for 95% of our portfolio and are working on the rest. 3 billion and generated EUR 475. Cover : 1: Index : 5: Letter from the Chairman : 6: 01 Jul 31, 2020 · MERLIN Properties has assessed the Covid-19 impact on their 2020 operating profit, for a maximum of €60 million, giving the market an FFO guidance for 2020 of €250 million (€ 53 cents per share). (the “Company”) has called the Annual Shareholders’ Meeting to be held in Madrid, at calle de Don Ramón de la Cruz, number 38, on June 16, 2020, at 12 noon, on first call, or, if the necessary quorum is not Financial Reports. MERLIN Properties Annual Report 2021 1 6 Table of Contents 8 100 MERLIN Properties | 7 III plans continue progressing after having delivered 214,077 square meters in the period and another 104,155 square meters in Zal Port. pre-Covid GAV. Interactive book. Reports on item ten. Total number of shares and voting rights The management team of MERLIN Properties will propose a final and unique dividend on account of 2020 results, being subject to the 2021 General Shareholders Meeting. It is my pleasure to present to you MERLIN Properties’ 2020 Annual Report, which includes the annual financial statements and all of the information relevant to the 2020 fiscal year. 9 Exclude: Propex not recharged to tenants (17. MERLIN Properties AGM 2015 Presentation. • MERLIN Properties will hold its AGM on June 17th, where a complimentary dividend of 14. Information lack of quorum first call. 25 per share will be requested to the Board, allowing a prudent cash retention. On 19 May 2021, the final dividend for 2020 was paid out, amounting to EUR 140,055 thousand The Board of Directors of MERLIN Properties, SOCIMI, S. Additionally, you can download the compressed file containing the consolidated annual financial report files from the "ZIP/Xbri File" column. It will also be proposed a further remuneration to shareholders of 17. Annual Report 2014. 5 1,026. (MC:MRL) is the largest real estate company trading on the Spanish Stock Exchange. 7% 424,756 +9. Financial Reports. (the “Company”) has resolved to call an Annual Shareholders’ Meeting to be held in Madrid, at calle de Don Ramón de la Cruz, number 38, on June 16, 2020, at 12 noon, on first call, or if the necessary attendance quorum is not reached, on second call, at the same venue and Annual Report on Directors’ Compensation-1 ANNUAL REPORT ON COMPENSATION FOR DIRECTORS OF MERLIN PROPERTIES, S. 1 Transfer tax 147. 20 Final 2019 8-jul-19 Dividend 0. 3% Greenhouse gas emissions (tCO 2eq ) (2) 13,697 (2. MERLIN Properties Annual Report 2020 / English 1 7 Table of Contents 9 96 8 | Annual Report | 2020 Conscious of the increasing importance of sustainability in the Company, we have decided to create a commission within the Board, the Sustainability Commission, to promote and guide environmental, social and innovation initiatives in the Company. Annual Report on Remuneration for Directors 1 Dear Shareholders: On behalf of the Remuneration Committee of MERLIN PROPERTIES, SOCIMI, S. 26 | Annual Report | 2020 Total take-up amounts to 45,365 sqm out of which 20,369 sqm correspond to new contracts and 24,996 sqm renewals. 6% compared to the same period of 2023 - FFO, €72 million, impacted by the launch of the data center operations and higher financial expenses - S&P has upgraded the Company's credit Paseo de la Castellana, 257. 4 2,207. | 49 Performance Measure Definition 31/12/2020 € million € per share EPRA Earnings Earnings from core operational activities 262. 100 | Annual report | 2022 In 2022, MERLIN continued the process of certifying its assets under recognised industry standards. Formal Call of the Annual Shareholders’ Meeting. 2016 AGM Presentation. Total number of shares and voting rights. 2 million and operating profit of €129. MERLIN Properties Annual Report 2022 0. 9% % Women employees 44. (MC:MRL) is one of the largest real estate company trading on the Spanish Stock Exchange, with a market capitalization of approximately 6,200 million euros, specialized in the acquisition and management of commercial property in the Iberian region. 2023 AGM Voting Results. Location map MERLIN Properties Annual Report 2021. 56 NAV (1) Net Asset Value (NAV) is calculated based on the consolidated shareholders’ equity of the Group adjusted to include properties and other investment interests at fair value and to exclude certain items not expected to crystallise in a long-term MERLIN Properties Annual Report 2020 / English. Exits amounted to 21,733 sqm, and therefore the net take-up is negative by 1,364 sqm. MERLIN Properties mainly invests in offices, shopping centers and 68 | Annual Report | 2021 GHG emissions in offices GHG emissions in shopping centres GHG emissions in logistic assets GHG emissions MERLIN Absolute GHG emissions (tCO 2eq ) and absolute GHG emissions intensity (tCO 2eq /sqm) by asset category and totals Like for Like GHG emissions (tCO 2eq ) and Like for Like GHG emissions intensity (tCO 2eq /sqm) by asset category and totals 2019 2020 2021 Annual General Meeting 2015 Follow-up. Financial Statements for the year ended 31 December 2020 and Director's Report, together with Independent Auditor's Report. Mar 25, 2021 · MERLIN PROPERTIES, SOCIMI, S. Item One – 2014 Financial Statements Approval. Live Stream of the Shareholder’s Meeting. Feb 3, 2020 · Lisbon, 15 January 2020 – MERLIN Properties (MC:MRL), the largest real estate company listed on the Spanish stock exchange, specializing in the acquisition and management of commercial real estate assets in the Iberian region, has announced that its issued and outstanding shares will start trading in Portugal from today. Location map Sep 1, 2023 · We bring brands to life and partner with leading owners of Intellectual Property content to create unforgettable visitor experiences 2020 Annual Report and Dec 11, 2020 · Javier Zarrabeitia, up until now head of the Office division, will retire on the 31 st of December 2020, after more than 40 years of brilliant career in the office sector, having worked in Prima Inmobiliaria, pioneer in the listed property sector in Spain, afterwards in Testa, and finally in MERLIN Properties after the integration of both Financial Reports. This award recognizes the degree to which its Sustainability Report (formerly CSR) is aligned with EPRA Sustainability Best Practices Recommendations. 2% - Strong operational performance continues, with stable occupancy (95. 2024 AGM Quorum. Call. 1 2,283. COMPANY COMPENSATION POLICY FOR THE CURRENT YEAR (2017) A. 6 million of rental income. (sqm) Ribera del Loira 60 Endesa 54,960 Alcala 40 Ministerio del Interior 9,315 PE Las Tablas BBVA 9,135 Castellana 280 Comunidad de Madrid 7,785 Sant Cugat II Ricoh 6,672 Adequa Wagen Group 5,978 PE Cerro Gamos Vector Software Factory, S. 1) (4. 2 million and operating profit of €273. 28046 MADRID. 5,968 E-Forum MERLIN Properties Annual Report 2020 / English 1 84 Table of Contents 86 96 | 85 ALTERNATIVE PERFORMANCE MEASURES In accordance with the recommendations issued by the European Securities and Markets Authority (ESMA), the alternative performance measures (“APM”) are described as follows. Table of Contents 1 100. Feb/28 MERLIN Properties – Annual Report on directors’ remunerations 2022. Properties’ 2019 Annual Report, which includes the annual financial statements and all of the information relevant to the 2019 fiscal year. – Consultative voting on the Annual Director’s Compensation Report. AGM Call and Agenda. Our portfolio MERLIN Properties Annual Report 2020 / English | 59 In 2021, MERLIN expects to continue with high occupancy rates and the maintenance of strong cash flow due to the long remaining lease period (5. 3% increase vs. 35 Final 2020 19-may-21 Share premium distribution 0. Report by the Board of Directors (including the Report by the Appointments Committee as an Exhibit) on the reappointment of Mr. (2) Average training hours have been calculated taking into account the employee average during 2020. MERLIN Properties- Quorum Shareholders AGM 2015 . To access the full text of the annual financial reports submitted in PDF format, you must select it in the "official registration number" column. 0 Gross rents annualized 229. Javier García-Carranza Non-Executive Chairman Letter from the Chairman Dear Shareholders, It is with great pleasure that I present to you MERLIN Properties (“MERLIN” or the “Company”) 2021 Annual Report. 43 per share) and net earnings of €254. of shares/voting rights. 10 Treasury shares 1 63 Table of Contents 65 100 63 Table of Contents 65 100. The Company envisages the rest of the year and 2021 cautiously and prudently but faces the short and medium term with a strong balance sheet. Director responsibility statement. MERLIN Properties SOCIMI, S. - Issue of debentures. Call notice for the 2023 Shareholders’ Meeting. 4 cents per share, payable in cash and to be distributed by way of share premium refund. 9 57. 7% 536,533 +8. 14741659 Total 2019 0. 6% compared to the same period of 2023 - FFO, €72 million, impacted by the launch of the data center operations and higher financial expenses - S&P has upgraded the Company's credit Annual Directors Remuneration Report 5 01. The dividend would be a gross amount of 0. The Annual Report includes the annual Financial Statements and all of the information 60 | Annual Report | 2021 Like for Like Data (1) Absolute Data 2021 2020-2021 evolution 2021 2020-2021 evolution Energy consumption (GJ) 280,140 +6. 01 – Proposed Resolution One MERLIN – Approval MERLIN Properties Annual Report 2021. 6% % of portfolio (in GAV) with LEED, BREEAM certification - (3) - (3) 91 Financial Reports. 7) “Topped-up” net Annual General Meeting 2024 Documentation Follow-up. MERLIN Properties Annual Report 2022. 30 Total 2020 MERLIN Properties Annual Report 2019 / English 1 64 Table of Contents 66 102 | 65 In 2020, MERLIN expects to continue with high occupancy rates and the maintenance of strong cash flow due to the long remaining lease period (5. 0%. Report on item fourteen. Javier García Carranza Benjumea Annual Report on Directors’ Compensation for the year 2019. - Authorized capital. 9m (€0. A STRONG AND UNIQUE WORKFORCE 2021 2020 Country Professional category Age range Men Women Men Women Spain Executive May 13, 2021 · As part of the non-core asset rotation policy, MERLIN has successfully divested €44. 0 0. Documentation Notice of Annual General Meeting. 8%) - EBITDA reached €93. 5 million), EBITDA of €179. Paseo de la Castellana, 257. SPAIN. MERLIN Properties Annual Report 2020 / English. 3 million, EBITDA of €277. 0) 0. MERLIN Properties Annual Report 2020 / English 1 63 Table of Contents 65 96 64 | Annual Report | 2020 In addition to maximizing the environmental performance of assets, the sustainable construction certifications represent an important lever for value generation, responding to the growing interest of tenants to have spaces that comply with the MERLIN Properties Annual Report 2020 / English 1 70 Table of Contents 72 96 | 71 2020 (1) Trend 2019-2020 Number of employees 220 +0. Company, having achieved the targets we set for ourselves early in the year. MERLIN Properties- Voting Results . F: +34 91 787 55 40. registered office: paseo de la castellana, 257, madrid Paseo de la Castellana, 257. Directors responsibility statement. 30 euros per share, corresponding in full to the return of share premium distribution. MERLIN’S REMUNERATION POLICY FOR 2020-2022 The Directors Remuneration Policy of MERLIN PROPERTIES, SOCIMI, S. Browse Merlin Properties Socimi S. Interactive. Report on item fifteen. MERLIN Properties Annual Report 2021. 5% = % Employees on indefinite contracts 99. 1% (0. 5) percentage points 2020 Milestones • Adaptation of workspaces to current health conditions. 33 new office assets obtained AEO certification, which certifies the technical quality of office buildings by assessing technical parameters such as architectural features, facilities, equipment and property maintenance. 3 days ago · MERLIN Properties, a leading real estate company in Spain and Portugal, and Edged Energy, a global sustainable technology developer for data centers, partnered in 2020 to promote, build, equip, and operate cutting-edge digital infrastructure in the Iberian Peninsula. 6M20. A. Location map Compared to its peers (companies classified as comparable to the Company), MERLIN obtained a score that is 7 points higher than the average of its peer group, or comparable companies. Cover : 1: Index : 5: Letter from the Chairman : 6: 01 MERLIN Properties Annual Report 2020 / English 1 66 Table of Contents 68 96 | 67 In line with the best market practices concerning sustainability, MERLIN follows the EPRA (European Public Real Estate Association) Guidelines established it guide: Sustainability Best Practice Recommendations on Reporting (sBPR), in its third and most recent Nov 11, 2021 · – MERLIN Properties has released its 9M21 consolidated financial statements with total revenues of € 381. 2021 Consolidated financial statements – MERLIN Properties. Number of employees: 260 and Remuneration Commission") and the board of directors (the "Board") of MERLIN PROPERTIES, SOCIMI, S. Feb/25 MERLIN Properties – Annual Report on directors’ remunerations 2020 Feb/25 MERLIN Properties – Financial information FY20 Feb/25 MERLIN Properties – Annual Corporate Governance Report 2020 MERLIN Properties closes a strong first quarter with gross rents amounting to 124. 2023 AGM Quorum. 78 | Annual Report | 2020 MERLIN’s professionals value being part of an organisation that is committed to its social environment. This last distribution will be delegated to the Board of Directors, who will Annual General Meeting 2023 Documentation Follow-up. 6 cents per share, payable in cash, will be proposed for approval. Net earnings of €190. 4 110. Explore millions of resources from scholarly journals, books, newspapers, videos and more, on the ProQuest Platform. Merlin Properties, SOCIMI, S. Report by Board of Directors on modification of article 38 of the Bylaws. 2024 AGM Voting Results. 08 Stock exchange evolution MERLIN Properties Annual Report 2020 / English 1 62 Table of Contents 64 96 | 63 With regard to this ESG strategy, the Company is implementing an initiative to reach the target of “net zero emissions”. It is my pleasure to present to you MERLIN . Report by Compensation Committe on the MERLIN-2020 Directors’ Compensation Policy. 0% Water withdrawal (m 3 ) 419,534 +17. Quorum Shareholders 2016 AGM. 13 Staff 70 Letter from the Chairman 06 02 Business performance 18 01 Organization and structure 11 03 Investments, divestments and capex 28 04 Portfolio valuation 34 05 Financial statements 38 06 Events post-closing 46 07 EPRA metrics 48 08 Stock Exchange evolution 50 09 Dividend policy 54 10 Treasury shares 56 11 Outlook / R+D information / others 58 12 Sustainability 60 2020 annual report MERLIN Properties Annual Report 2022 5,943 94 11,944 13,051 14,167 6,722 5,394 657 7,805 6,567 1,452 8,894 6,690 1,625 12,773 15,824 17,209 2020 2021 2022 2020 Feb 25, 2021 · A final 2020 dividend of €0. 2% Waste (tonnes) 4,513 +11. (3,046) (v) share | 87 RECONCILIATION OF THE ALTERNATIVE PERFORMANCE MEASURES WITH CONSOLIDATED FINANCIAL STATEMENTS (€ thousand) Notes FY20 FY19 Total revenues 18 a 446,132 514,853 Other operating income Consolidated income statement 2,640 2,799 Personal expenses 18 c (40,888) (6,854) Other operating expenses 18 b (66,936) (64,473) Accounting EBITDA 340,948 376,324 Costs related to acquisition and disposals Mr. usqxfrxyzionqtodvqltldfffzdvjnbxomawrghttnqnxmwjbqfcti