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MERLIN Properties SOCIMI SA ( (ES:MRL) ) has shared an update.
MERLIN Properties reported a strong 2025, with total revenues of €565 million, EBITDA up 9.7% to €416 million and operating profit rising 5.1% to €327 million, while net profit reached €786 million on the back of significant data center revaluations. The company’s gross asset value climbed to €12.63 billion and EPRA NTA per share to €15.36, while leverage remained low with a 28.9% loan-to-value ratio and fully fixed-rate debt, underpinning its solid credit ratings.
Operationally, MERLIN delivered like-for-like rental growth of 3.5% and positive release spreads across all asset categories, led by record office occupancy of 94.2% and robust logistics performance with 96.4% occupancy and rising renewal rents. The digital infrastructure division was a key growth driver, securing leases for an additional 66 MW that fully occupy phase 1 and the first building of phase 2 of its data centers, reinforcing the strategic importance of the Plan MEGA development pipeline and supporting continued portfolio revaluation and income visibility.
The offices segment benefited from strong demand in Madrid and Lisbon, including 56,000 square meters of pre-leasing in four refurbishment projects that support future rental income growth. In logistics, MERLIN delivered a new 18,131 square meter warehouse in Cabanillas Park II to Total and reported that 175,000 square meters of its 461,000 square meter development land bank is already pre-let or under letters of intent, signaling sustained tenant interest and a solid foundation for further expansion.
The most recent analyst rating on (ES:MRL) stock is a Buy with a EUR13.50 price target. To see the full list of analyst forecasts on MERLIN Properties SOCIMI SA stock, see the ES:MRL Stock Forecast page.
More about MERLIN Properties SOCIMI SA
MERLIN Properties SOCIMI, S.A. is a Spanish real estate investment company focused on offices, logistics assets and digital infrastructure, particularly data centers, across key Iberian markets such as Madrid and Lisbon. The group positions itself as a large-scale property owner and developer, with an emphasis on stable rental income, asset revaluation and maintaining conservative leverage levels.
Average Trading Volume: 919,782
Technical Sentiment Signal: Buy
Current Market Cap: €7.9B
Find detailed analytics on MRL stock on TipRanks’ Stock Analysis page.