MERLIN Properties Annual Report 2021

90 | Annual Report | 2021 (€ thousand) Notes FY21 FY20 Total revenues 18 a 468,203 446,132 Other operating income Consolidated income statement 4,277 2,640 Personel expenses 18 c (40,779) (40,888) Other operating expenses 18 b (68,582) (66,936) Accounting EBITDA 363,118 340,948 Costs related to acquisition and disposals 18 b 1,622 4,173 Other costs 18 b 837 894 Severances 18 c 152 1,167 Non-overhead costs 18 b and 18 c 2,612 6,235 Long term incentive plan 18 c 11,498 18,232 EBITDA 377,228 365,415 Net financial expenses excluding debt arrangement costs 18 d (115,992) (127,360) Equity method net income n.a 18,110 16,347 IFRS16 Adjustement n.a - 4,273 Bond repurchase n.a - 6,026 Current taxes n.a (6,317) (2,300) FFO 273,028 262,400 Non-overhead costs 18 b and 18 c (2,612) (6,235) Accounting FFO 270,417 256,165 (€ thousand) Gross rental income Consolidated income statement 505,319 503,448 Revenue from rendering of services 18 a 5,740 5,070 Other net operating income n.a 1,047 110 Revenues 512,106 508,628 RECONCILIATION OF THE ALTERNATIVE PERFORMANCE MEASURES WITH CONSOLIDATED FINANCIAL STATEMENTS