MRM // 2021 Universal Registration Document

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Information on M.R.M.’s activities

Key figures

Maturity of loans and hedging of bank debt As of 31 December 2021, all of the Group’s debt bore interest at variable rates. 77% of the debt is hedged by fnancial instruments such as caps, bearing on the 3-month Euribor at a strike rate of between 1.0 and 1.25%. Following the refnancing of bank debt at the end of 2021, the maturity schedule of borrowings was as follows as of 31 December 2021:

Loan maturities

Amount

In%

2022

-

0%

2023-2027

€2.6 m

3.6%

2028

€71.8 m

96.4% 100%

TOTAL

€74.4 M

Net Asset Value and Balance Sheet Net Asset Value (“NAV”) is an indicator that measures the asset value of a real estate company. NAV measures changes in the valuation of M.R.M. through changes in its shareholders ‘equity. In October 2019, the European Public Real Estate Association (EPRA) published new recommendations that now include changes to the calculation of NAV as of financial years opened as of 1 January 2020. The measurement of NAV has been reviewed in order to be more relevant depending on the fair value of the assets and liabilities. Three calculation methods are recommended: • a liquidation NAV that reflects the share of the net asset for the shareholder upon disposal – EPRA Net Disposal Value (NDV);

• a NAV that reflects the real estate asset rotation (acquisitions/ disposals of assets) – EPRA Net Tangible Assets (NTA); • a replacement NAV which includes the portfolio transfer taxes - EPRA Net Reinstatement Value (NRV). The Net Asset Value of the Group EPRA NDV reached €97.4 million (€2.23 per share) as of 31 December 2021, up compared to 31 December 2020 by €4.3 million or 4.6%, mainly due to the increase in the value of the portfolio. The Net Asset Value of the Group EPRA NTA reached €97.3 million (€2.23 per share). It tracks changes to the valuation of M.R.M., excluding the effects of changes in the fair value of the financial instruments. Lastly, the Net Asset Value of the Group EPRA NRV reached €108.0 million (€2.48 per share).

The Net Asset Value in euros per share changed as follows over the past two years:

NAV Data

31/12/2021

31/12/2020

Consolidated equity - Group share

€97.4 m

€93.9 m

EPRA NDV per share EPRA NTA per share EPRA NRV per share

€2.23 €2.23 €2.48

€2.13 €2.15 €2.39

M.R.M. 2021 UNIVERSAL REGISTRATION DOCUMENT

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