Merlin Earns €564M, Down by 34% due to Lower Extraordinary Income

28 February 2020 –

Merlin Properties obtained a net profit of €563.6 million in 2019, down by 34% compared to the year before when its profits amounted to €855 million, due to extraordinary earnings in 2018 from the sale of its stake in Testa Residencial.

Ismael Clemente’s company recorded total revenues of €530 million in 2019, up by 4.1% compared to 2018, which they amounted to €509.5 million. The Socimi’s net operating profit (Ebitda) amounted to €425.5 million in total in 2019, 5.4% more than the year before.

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Translation/Summary: Carmel Drake