MRM - 2020 Universal Registration Document

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Information on M.R.M.’s activities

Key figures

CAPEX €+3.1 m

€168.1 m

€161.0 m

Disposals €-0.2 m

Change in fair value €-10.0 m

12/31/2020

12/31/2019

IFRS simpli ed income statement

2020

2019

2018

(in millions of euros)

GROSS RENTAL INCOME

9.5

9.1

9.5

Property expenses not recovered

-1.8

-1.8

-2.9

NET RENTAL INCOME

7.7

7.3

6.7

Operating expenses

-2.3

-2.5 -1.8

-2.5 -0.2 -0.3

Provisions net of reversals

0.6

Other operating income and expenses

-2.2

0.8

OPERATING INCOME BEFORE DISPOSALS AND CHANGE IN FAIR VALUE

3.8 0.4

3.9

3.7

Result on disposals of properties

-0.1

-0.1

Change in fair value of investment properties

-10.0

0.8 4.6

-12.1

OPERATING INCOME

-5.8

-8.5

Cost of net debt

-1.2 -0.2 -7.2 -7.2

-1.2 -0.2

-1.5 -0.4

Other fnancial income and expense

NET INCOME BEFORE TAX

3.2

-10.4

CONSOLIDATED NET INCOME

3.2

-10.4 -0.24

NET EARNINGS PER SHARE (IN EUROS)

-0.16

0.07

Rental income Since the completion of the refocusing of the Company’s portfolio on commercial real estate in 2019, gross and net rental income is entirely generated by retail assets. Consolidated revenue for 2020 reached €9.5 million, up by 4.2% compared to 2019. This increase in gross rental income mainly reflects the entry into force of new leases in 2019 and 2020 and, to a lesser extent, the positive impact of indexation.

Debt As of 31 December 2020, the Group’s total outstanding debt stood at €76.8 million, equivalent to 47.7% of the portfolio value excluding transfer taxes. During the financial year, Group debt increased by €0.3 million as a result of: • contractual repayments made during the year, for a total of €1.4 million; • partially offset by the drawdown of the balance of the available credit line for the partial fnancing of investments in the existing portfolio for an amount of €0.9 million. As of 31 December 2020, 91.0% of the Company’s bank loans were contracted at fixed rates. Floating-rate bank debt is hedged by a cap type fnancial instrument.

M.R.M. 2020 UNIVERSAL REGISTRATION DOCUMENT

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