MRM // 2021 Universal Registration Document

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Information on M.R.M.’s activities

Key figures

Change in fair value €+2.6 m

CAPEX €+2.8 m

€162.0 m

€161.0 m

Disposals €-4.4 m

31/12/2021

31/12/2020

IFRS simplified income statement

2021

2020

2019

(in millions of euros)

GROSS RENTAL INCOME

9.7

9.5

9.1

Property expenses not recovered

-1.8

-1.8

-1.8

NET RENTAL REVENUES

8.0

7.7

7.3

Operating expenses

-2.5

-2.3

-2.5 -1.8

Provisions net of reversals

0.9

0.6

Other operating income and expenses

-0.1

-2.2

0.8

OPERATING INCOME BEFORE DISPOSALS AND CHANGE IN FAIR VALUE Gains (losses) on disposals of properties Change in fair value of investment properties

4.5

3.8

3.9

0.5 2.6

0.4

-0.1

-10.0

0.8

OPERATING INCOME

7.6

-5.8

4.6

Net borrowing cost

-1.2 -0.8

-1.2 -0.2

-1.2 -0.2

Other financial income and expense

NET INCOME BEFORE TAX

5.6

-7.2

3.2

CONSOLIDATED NET INCOME

5.6

-7.2

3.2

NET EARNINGS PER SHARE (in euros)

0.13

-0.16

0.07

Rental income Since the completion of the refocusing of the Company’s portfolio on commercial real estate in 2019, and the sale of a logistics platform in 2021, gross and net rental income is now entirely generated by retail assets. Consolidated revenue for 2021 reached €9.7 million, up by 2.5% compared to 2020. This increase in gross rental income mainly reflects the full effect of leases signed in 2020, the entry into force of new leases signed in 2021 and, to a lesser extent, the positive impact of indexation.

Debt In 2021, in the exceptional circumstances related to the health crisis, M.R.M. worked to strengthen its liquidity position and secure its fnancial resources. Thus, in May 2021, M.R.M. entered into an agreement with one of its banking partners allowing it to defer to the maturity of the loan repayments planned in 2021, for a total of €1.9 million. Then, on 23 December 2021, M.R.M. announced the signing of a new loan, for a total amount of €82.1 million with a seven-year maturity, allowing it to make an early repayment of all of its bank debt and acquire new fnancial resources to make investments.

M.R.M. 2021 UNIVERSAL REGISTRATION DOCUMENT

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