MRM // 2022 Universal Registration Document

3

General information on the issuer and its share capital

Consolidated financial statements for the financial year ended 31 December 2022

Note 1 Company profile and significant items

A significant increase in the M.R.M. portfolio The acquisition of the Flins regional shopping centre and the Carrefour Ollioules shopping centre for a total amount of €90.4 million (including transfer taxes) means a change in scale for M.R.M. While extending its geographical presence in two dynamic regions, this transaction significantly increases the size of its portfolio, which increased from €162.0 million as of 31 December 2021 to €244.9 million as of 31 December 2022, an increase of 51%. This entry into the portfolio resulted in a sharp increase in the amount of M.R.M.’s net annualised rents, which rose from €9.3 million as of 1 January 2022 to €15.1 million as of 1 January 2023, thus raising M.R.M.’s net annualised rents target net from €10.0 million to €16.0 million by 2025. M.R.M. also anticipates a positive impact of the increase in its rental income on its net operating cash flow generation and aims, in the medium term, to increase its level of profitability through better absorption of its fixed costs. Lastly, the two shopping centres have a value-enhancement potential that would give M.R.M. an opportunity to deploy its know-how in asset management (refurbishment, partial redevelopment, dynamic rental management, change in the retailer mix). Flins regional shopping centre Near Mantes-la-Jolie in the Yvelines region, the Flins regional shopping centre is located in an attractive shopping area in the heart of an urban community that is among the largest in France and has a dynamic demographic. The real estate complex, owned jointly with Carrefour, is a powerful shopping centre with 80 stores that is a reference in its catchment area, and in which the Carrefour hypermarket is the leader. It has extremely easy access via the A13 motorway. The acquisition by M.R.M. concerns 56 stores covering a surface area of 9,972 m 2 . The site welcomed 3.3 million visitors in 2022 and has proven attractive to retailers. The Carrefour Ollioules shopping centre In the Toulon Provence Méditerranée metropolitan area, the largest employment area in the Var Department, the Carrefour Ollioules shopping centre is located in an attractive and dynamic region, whose population significantly increases in the high season due to tourism. A leader in its catchment area, the shopping centre, owned jointly with Carrefour and other co-owners, benefits from its immediate proximity to the A50 motorway, west of the city of Toulon.

1.1 General information M.R.M. (the “Company”) is a French public limited company ( société anonyme ) registered with the Paris Trade and Companies Register. Its head office is located at 5, avenue Kléber – 75016 Paris, France. M.R.M. opted for SIIC or French Real Estate Investment Trust (REIT) status with effect from 1 January 2008. M.R.M., parent company of the consolidated group, is a holding company with subsidiaries specialised in holding and managing retail properties. The consolidated financial statements for the twelve-month period ended 31 December 2022 encompass the Company and its subsidiaries (hereinafter referred to as the “Group”). The Company is listed on Eurolist, in Compartment C of Euronext Paris. On 7 March 2023, the Board of directors authorised the publication of the Group’s consolidated financial statements as of 31 December 2022. They are denominated in thousands of euros, unless stated otherwise. The functional currency of each Group entity is the euro. The annual reporting period for all Group entities ends on 31 December. Acquisition of two shopping centres from Altarea: a transformative transaction Pursuing its strategy of diversification and development of its assets, on 28 July 2022, M.R.M. signed a memorandum of understanding with Altarea, SCOR SE, Retail Flins, Retail Ollioules, Foncière Altarea, Alta Ollioules 1 and Alta Ollioules 2 on the acquisition from Altarea of two shopping centres, through disposals and contributions in kind, for a total amount of €90.4 million (including transfer taxes). On 7 December 2022, M.R.M. announced the completion of this acquisition and its financing. This transaction resulted in an increase of more than 50% in the value of M.R.M.’s portfolio. Located in Flins-sur-Seine (Yvelines) and Ollioules (Var), these two assets – both adjacent to Carrefour hypermarkets – are reference centres in their catchment areas. These are high-performance assets, combining yield and value-enhancement potential. 1.2 Highlights of the period

M.R.M. 2022 UNIVERSAL REGISTRATION DOCUMENT

76

Made with FlippingBook - professional solution for displaying marketing and sales documents online