Ines Adelaide
Head of Investor Relations
Replay available
Merlin Pptys Socimi Ord (MRPRF) Q1 2025 Earnings Call
Merlin Pptys Socimi Ord (OTC: MRPRF) Q1 2025 earnings conference call, held 2025-05-14. Replay captured from the company's public earnings webcast.
Hosted by
Featured presenters
Ismael Clemente
CEO
Stephanie Dozman
Analyst
Fernando Abril
Analyst, Alantra
Alex Costaren
Analyst, Kempen
Ana Escalante
Analyst, Morgan Stanley
Investor webinar replay
Watch the replay and follow the connected company analysis, news, and investor updates for Merlin Properties Socimi, S.a..
Replay transcript excerpt
WEBVTT 00:00:00.031 -- 00:00:04.217 Good afternoon, ladies and gentlemen. Welcome and thank you for joining Merlin's first 00:00:04.217 -- 00:00:09.244 quarter trading update conference call. As we always do on first and third quarter, our 00:00:09.244 -- 00:00:13.470 CEO, Ismael Clemente, will briefly go through the main highlights of the quarter, and 00:00:13.470 -- 00:00:18.597 then we'll open the line for Q&A. For those of you who want to ask questions, 00:00:18.597 -- 00:00:21.901 please press start, followed by number five. 00:00:21.901 -- 00:00:24.505 With no further delay, I pass the floor to Ismael. 00:00:24.505 -- 00:00:26.267 Thank you. 00:00:26.267 -- 00:00:30.731 Thank you, Ines. Welcome to Merlin's first quarter results presentation. 00:00:30.895 -- 00:00:35.942 It's been a pretty solid quarter overall. 00:00:35.942 -- 00:00:42.030 In terms of consolidated performance, gross rent went up by 2.7%, which was 00:00:42.030 -- 00:00:46.616 okay, and particularly we improved significantly our margins, and the FFO went up by 00:00:46.616 -- 00:00:50.180 almost 17%, which is good. 00:00:50.180 -- 00:00:53.642 We have significantly 00:00:55.467 -- 00:01:00.613 shrunk the dilution caused by the capital increase, so We 00:01:00.613 -- 00:01:05.619 are running at present at minus 2.6% FFO per share, which is 00:01:05.619 -- 00:01:10.825 remarkable given the new share count. And in terms of MTA, despite not having 00:01:10.825 -- 00:01:16.149 revalued in the quarter, we are running at minus 4.8. 00:01:16.752 -- 00:01:21.798 Let's see what happens in June, but we continue probably shrinking the 00:01:21.798 -- 00:01:28.366 dilution of the capital increase in terms of MTA by 30th of June. 00:01:28.366 -- 00:01:31.615 It's been a very active quarter 00:01:31.615 -- 00:...