According to the socimi, this outcome is mainly explained by the capitalization of Testa Residencial's fees. Explains in a note to the CNMV that "the capitalization of the services contract with Testa implies an increase of participation from 12.7% to 17.0%".
According to Spanish Real Estate, the company's revenues increased 3.5% to €124 million, an improvement of gross incomes of 5.1%. EBITDA stood at €97.5 million.
On a positive note is the gross incomes of the shopping centers to €24 million, 6.5% more, and to logistics incomes, which increased by 7.6% to €11.9 million. With the departure of Huawei from Las Tablas facilities, Merlin registered a negative balance of 15,443 m2 of offices.