MERLIN Properties Annual Report 2020 / English

Cover	1
Index	5
Letter from the Chairman	6
01. Organization and structure	11
02. Business performance	18
03. Investments, divestments and Capex	28
04. Portfolio valuation	34
05. Financial statements	38
06. Events post-closing	46
07. EPRA metrics	48
08. Stock exchange evolution	50
09. Dividend policy	54
10. Treasury shares	56
11. Outlook / R+D information / other	58
12. Sustainability	60
13. Staff	70
Appendixes	80
EPRA metrics	81
Alternative performance measures	85
List of assets	88
Back cover	96

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