Merlin Properties Socimi, S.A. (MRL)

Index:

IBEX 35

  9.09
   
  • 52 Week High:  11.81
  • 52 Week Low:  7.48
  • Currency: Euro
  • Shares Issued: 465.00m
  • Market Cap:  4,224.53m
  • RiskGrade: 168

Fundamentals - based on IFRS

    (Millions)   (Millions)   (Millions)   (Millions)   (Millions)
Income Statement 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Continuing Operations          
Revenue 464.78 439.04 426.48 446.13 514.85
Operating Profit/(Loss) 8.91 88.44 470.64 240.54 707.33
Profit Before Tax (74.99) 48.16 403.17 55.61 590.71
Profit After Tax (83.50) 41.36 395.36 56.36 563.64
           
Earnings per Share - Basic (18.00¢) 9.00¢ 110.00¢ 12.00¢ 121.00¢
Earnings per Share - Adjusted (18.00¢) 9.00¢ 110.00¢ 12.00¢ 121.00¢
           
Dividend per Share n/a n/a n/a n/a n/a
    (Millions)   (Millions)   (Millions)   (Millions)   (Millions)
Balance Sheet 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Assets          
Non-Current Assets          
Property, Plant & Equipment 7.14 6.32 9.16 7.11 11.68
Intangible Assets 1.57 1.75 1.59 0.96 0.80
Other Non-Current Assets 11,456.73 11,504.19 13,223.64 13,053.69 12,980.53
  11,465.45 11,512.26 13,234.39 13,061.76 12,993.01
Current Assets          
Inventories 50.98 44.51 38.70 33.44 0.22
Cash at Bank & in Hand 461.22 429.45 866.72 252.02 254.02
Other Current Assets 87.77 65.26 133.02 130.40 58.48
  599.97 539.22 1,038.44 415.86 312.72
           
Other Assets n/a n/a n/a n/a n/a
Total Assets 12,065.41 12,051.48 14,272.83 13,477.62 13,305.73
Current Liabilities          
Borrowings 25.49 786.86 603.01 49.55 52.96
Other Current Liabilities 189.18 163.65 133.62 129.71 161.05
           
Current Liabilities 214.67 950.51 736.63 179.26 214.00
           
Net Current Assets c385.29 c(411.29) c301.81 c236.60 c98.72
           
Borrowings 4,507.07 3,625.60 5,658.71 5,757.90 5,541.20
Other Non-Current Liabilities 804.63 626.15 850.57 844.19 841.83
Non-Current Liabilities 5,311.70 4,251.75 6,509.28 6,602.09 6,383.03
           
Other Liabilities n/a n/a n/a n/a n/a
Total Liabilities 5,526.37 5,202.26 7,245.91 6,781.35 6,597.03
           
Net Assets 6,539.04 6,849.22 7,026.92 6,696.27 6,708.70
           
Shareholders Funds 6,539.04 6,849.22 7,026.92 6,696.27 6,708.70
           
Minority Interests/Other Equity n/a n/a n/a n/a n/a
Total Equity 6,539.04 6,849.22 7,026.92 6,696.27 6,708.70
Cash Flow 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Net Cash Flow From Operating Activities 227.96 222.15 230.47 134.66 294.86
Net Cash Flow from Investing Activities (274.75) 1,184.25 110.23 (229.87) (277.78)
Net Cash Flow from Financing Activities 78.56 (1,700.44) 274.00 93.21 67.91
Net Increase/Decrease In Cash 31.77 (294.03) 614.70 (2.00) 84.99
Ratios - based on IFRS 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Continuing Operations          
PE Ratio - Adjusted n/a 97.5 8.7 n/a 10.6
PEG - Adjusted n/a n/a 0.0 n/a n/a
Earnings per Share Growth - Adjusted n/a -92% 817% -90% -34%
Dividend Cover n/a n/a n/a n/a n/a
Revenue per Share 99.95¢ 94.42¢ 0.93¢ 95.94¢ 110.72¢
Pre-Tax Profit per Share (16.13¢) 10.36¢ 0.88¢ 11.96¢ 127.03¢
Operating Margin 1.92% 20.14% 110.36% 53.92% 137.39%
Return on Capital Employed n/a 0.43% 0.03% 0.44% 4.80%
           
Dividend Yield 0.0% 0.0% 0.0% 0.0% 0.0%
Dividend per Share Growth n/a n/a n/a n/a n/a
Operating Cash Flow per Share 49.02¢ 47.77¢ 49.56¢ 28.96¢ 63.41¢
Cash Incr/Decr per Share 6.83¢ (63.23¢) 1.33¢ (0.43¢) 18.28¢
Net Asset Value per Share (exc. Intangibles) 1,405.91¢ 1,472.58¢ 1,510.82¢ 1,439.85¢ 1,442.56¢
Net Gearing 62.26% 58.15% 76.78% 82.96% 79.60%

Key

* GAAP

a. Includes discontinued activities

b. Including assets due in more than one year

c. Not disclosed under IFRS

d. Total fixed assets

e. Includes borrowings

f. Included in cash flow from operating activities under IFRS

g. Included in net cash from investing activities under IFRS

h. Pre-tax

i. Capital expenditure

j. Based on operating cash flow before tax

k. Issue of ordinary shares

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are end of day values only.

Note 2: RiskGrade figures are provided by RiskMetrics.

Note 3: Forecast figures based on normalised accounts.

 

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