MERLIN Properties Annual Report 2024

MERLIN Properties | 131 (€ m) Notes FY24 FY23 A GAV Section 3 Results Report 11,540 11,270 B Transaction costs n.a 302 299 C=A+B GAV + transaction costs 11,842 11,569 N Net debt Section 4 Results Report 3,347 4,050 D= N/C LTV 28.3% 35.0% E Net debt Section 4 Results Report 3,347 4,050 F Equity Balance sheet 7,501 6,539 G=E+F Total capital 10,848 10,589 H=E/G Leverage ratio 30.9% 38.2% I Financial debt Section 4 Results Report 4,914 4,526 J= K+L+M Cash and cash equivalents 1,567 477 K Cash Balance sheet 1,553 461 L Receivables Balance sheet - - M Treasury stock Balance sheet 14 15 N=I-J Net debt 3,347 4,050 J Cash and cash equivalents 1,567 477 O Undrawned credit facilities 14.1 797 832 P= J+O Liquidity position 2,364 1,309