MERLIN Properties Annual Report 2018 / English

03 06 09 01 04 07 Organization and structure 14 Portfolio valuation 40 Events post-closing 56 Business performance 22 Financial statements 44 Stock Exchange evolution 58 Acquisitions, refurbishments and developments 32 EPRA metrics 52 Dividend policy 62 02 05 08 20 18 Letter from the Chairman 8 Letter from the CEO 10