Merlin Pptys Socimi Ord (MRPRF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Your line is muted. Good afternoon, ladies and gentlemen. Thank you for joining Merlin's 6M26 results presentation. You can find all the materials that will be presented in today's call on our website. I will please ask you to be advised by the disclaimer contained in it. Our CEO, Ismael Clemente, along with our two directors, Inés Arellano and Francisco Rivas, will walk you through the main highlights of the first six months of 2026. We'll then open the line for Q&A, where you'll have to press star five. With no further delay, I pass the floor to Ismael. Thank you, Teresa. Thank you for attending Merlin Properties' first house 2026 results. I will be following the presentation that we have prepared for the occasion. So regarding the main highlights in operating performance, financial performance, and value creation for the period, I would like to remark that we continued enjoying strong operation in all of our traditional asset classes with a 3.3% like-for-like rental growth. We continue to enjoy a very high overall occupancy with a 94.7% pending the incorporation of data centers as of In the three traditional asset classes, the one that showed the strongest performance was, once again, shopping centers with a 6.4% like-for-like growth. Because in logistics, we had a relatively good risk spread, but we lost occupancy. And in offices, we had a good occupancy performance, but we had a relatively low C. Thank you very much. Thank you. Very close to recover the dilution caused by the capital increase, which is, I think, a remarkable achievement. In terms of value creation, we increased GAF by 3.7%, with most of that growth coming from data centers, because actually in traditional asset classes, there was a very slight yield expansion, which probably will follow. In comi...