MERLIN Properties Annual Report 2019 / English

92 | Annual Report | 2019 RECONCILIATION OF THE ALTERNATIVE PERFORMANCE MEASURES WITH CONSOLIDATED FINANCIAL STATEMENTS (€ thousand) Notes 2019 2018 Total revenues 6 and 18 514,853 590,431 Other operating income Consolidated income statement 2,799 6,978 Personal expenses 18.c (76,854) (73,941) Other operating expenses 18.b (64,473) (56,274) Extraordinary income (Testa Residencial) (89,721) Extraordinary income (Aedas) (22,242) Accounting EBITDA 376,324 355,232 Costs related to acquisition and disposals 18.b 4,492 4,802 Other costs 18.b 120 118 Severances 18.c 328 98 Non-overhead costs 18.b and 18.c 4,939 5,018 Long term incentive plan 18.c 44,242 43,435 EBITDA 425,505 403,685 Financial expenses excluding debt arrangement costs 18.d (112,415) (119,298) Equity method net income n.a 6,012 6,987 Minorities Current taxes n.a (6,030) (4,517) Extraordinary financial income n.a 205 FFO 313,277 286,857 Non-overhead costs (4,939) (5,018) Accounting FFO 308,338 281,839 (€ thousand) Notes 2019 2018 Gross rental income 8,2 525,918 499,708 Revenue from rendering of services 18.a 3,327 114,785 Extraordinary income (Testa Residencial) (89,721) Extraordinary income (Aedas) (22,242) Other net operating income 18.b and consolidated income statement 1,387 6,978 Revenues 530,631 509,508 APM definitions and reconciliation of APMs to the latest audited financial accounts can be found on note 14 of the Consolidated Management Report for the year ended on December 31-2019