The earnings call highlighted strong FFO growth and successful data center expansion, coupled with high occupancy rates and a stable dividend payout. However, challenges were noted in the logistics sector and a minor negative release spread in the office segment, alongside a decline in NTA. Despite these challenges, the company's strategic moves in data centers and overall solid performance contribute to a positive outlook.

Company Guidance

During the first quarter of the fiscal year 2025, MERLIN's performance showcased several key metrics. Gross rents increased by 2.7%, while the funds from operations (FFO) rose by nearly 17%, despite a 2.6% decline in FFO per share due to a capital increase. The net tangible assets (NTA) remained at minus 4.8%. The company also expanded its data center capabilities in Madrid, acquiring two sites with a potential IT capacity of 78 megawatts. The occupancy rate remained high at 96.7%, and a €37.4 million non-core asset sale was achieved at a double-digit premium. The release spread reflected a mixed performance across sectors, with a positive trend in logistics and shopping centers. Notably, the FFO for the quarter suggested a slight improvement over the annual guidance of 0.59, yet the company opted for prudency amid global economic uncertainties.

Strong FFO Growth

FFO increased by 16.9%, almost offsetting the dilution from the capital increase, indicating strong operational performance.

Data Center Expansion

Acquisition of two sites in Madrid with 115 megawatts available, enabling the development of 78 megawatts of IT capacity.

High Occupancy Rates

Occupancy remained high at 96.7%, demonstrating strong demand and efficient management of properties.

Dividend Announcement

A final dividend of €0.40, with €0.22 to be paid on May 26, complementing the 2024 dividend, reflecting shareholder confidence.

Commercialization Achievements

Successful lease of 18 megawatts IT in Azure and pre-letting of 6 megawatts in Barcelona, strengthening market leadership in the Iberian Peninsula.

MERLIN Properties SOCIMI SA (ES:MRL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

ES:MRL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 14, 2025	2025 (Q3)	0.14 / -	0.15	―	―	―
Jul 31, 2025	2025 (Q2)	0.14 / 0.14	0.18	-22.22% (-0.04)
May 13, 2025	2025 (Q1)	0.14 / 0.15	0.15	0.00% (0.00)
Feb 28, 2025	2024 (Q4)	0.13 / 0.14	0.15	-6.67% (>-0.01)
Nov 15, 2024	2024 (Q3)	0.14 / 0.15	0.15	0.00% (0.00)	―
Jul 19, 2024	2024 (Q2)	0.15 / 0.18	0.15	20.00% (+0.03)
May 17, 2024	2024 (Q1)	0.14 / 0.15	0.15	0.00% (0.00)	―
Feb 29, 2024	2023 (Q4)	0.15 / 0.15	0.14	7.14% (<+0.01)
Nov 16, 2023	2023 (Q3)	0.14 / 0.15	0.14	7.14% (<+0.01)	―
Jul 27, 2023	2023 (Q2)	0.15 / 0.15	0.17	-11.76% (-0.02)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

ES:MRL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	€11.91	€12.18	+2.27%
May 13, 2025	€10.22	€10.55	+3.23%
Feb 28, 2025	€10.38	€10.23	-1.42%
Nov 15, 2024	€9.40	€9.56	+1.64%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does MERLIN Properties SOCIMI SA (ES:MRL) report earnings?

MERLIN Properties SOCIMI SA (ES:MRL) is schdueled to report earning on Nov 14, 2025, TBA (Confirmed).

What is MERLIN Properties SOCIMI SA (ES:MRL) earnings time?

MERLIN Properties SOCIMI SA (ES:MRL) earnings time is at Nov 14, 2025, TBA (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is the P/E ratio of MERLIN Properties SOCIMI SA stock?

The P/E ratio of MERLIN Properties SOCIMI SA is N/A.

What is ES:MRL EPS forecast?

ES:MRL EPS forecast for the fiscal quarter 2025 (Q3) is 0.14.

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