MERLIN Properties Annual Report 2019 / English

2019 ANNUAL REPORT 13 Staff 80 01 Organization and structure 12 02 Business performance 20 03 Acquisitions, refurbishments and developments 30 04 Portfolio valuation 38 05 Financial statementss 42 06 EPRA metrics 50 07 Events post-closing 54 08 Stock Exchange evolution 56 09 Dividend policy 60 10 Treasury shares 62 11 Outlook / R+D information / others 64 12 Sustainability 66 Letter from the Chairman 6 Letter from the CEO 8 APPENDIX EPRA metrics calculation 89 Reconciliation of the alternative performance measures 92 List of assets 93