MERLIN Properties Annual Report 2020 / English

| 87 RECONCILIATION OF THE ALTERNATIVE PERFORMANCE MEASURES WITH CONSOLIDATED FINANCIAL STATEMENTS (€ thousand) Notes FY20 FY19 Total revenues 18 a 446,132 514,853 Other operating income Consolidated income statement 2,640 2,799 Personal expenses 18 c (40,888) (6,854) Other operating expenses 18 b (66,936) (64,473) Accounting EBITDA 340,948 376,324 Costs related to acquisition and disposals 18 b 4,173 4,492 Other costs 18 b 894 120 Severances 18 c 1,167 328 Non-overhead costs 18 b and 18 c 6,235 4,939 Long term incentive plan 18 c 18,232 44,242 EBITDA 365,414 425,505 Financial expenses excluding debt arrangement costs Consolidated income statement (127,360) (112,415) Equity method net income n.a 16,347 6,012 IFRS16 Adjustement n.a 4,273 - Bond repurchase n.a 6,026 Current taxes n.a (2,300) (6,030) Extraordinary financial income n.a - 205 FFO 262,400 313,277 Non-overhead costs 18 b and 18 c (6,235) (4,939) Accounting FFO 256,165 308,338 (€ thousand) Gross rental income Consolidated income statement and 8.2 503,448 525,918 Revenue from rendering of services 18 a 5,070 3,327 Other net operating income n.a 110 1,387 Revenues 508,628 530,631