MERLIN Properties SOCIMI Balance Sheet

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Property, Plant & Equipment	12,178	12,008	10,888	10,647	10,721	12,306
Cash & Equivalents	1,746	1,215	1,553	461.22	429.45	866.72
Accounts Receivable	106.28	48.44	38.66	41.05	29.74	14.79
Other Receivables	-	36.18	21.44	21.55	20.11	24.83
Investment In Debt and Equity Securities	6.9	17.96	24.2	18.1	30.8	8.52
Other Intangible Assets	4.38	4.49	1.03	1.57	1.75	1.59
Loans Receivable Current	-	0.24	0.24	0.24	0.24	0.24
Other Current Assets	75.84	83.03	76.35	71.16	56.97	49.18
Trading Asset Securities	-	-	-	-	-	80.96
Deferred Long-Term Tax Assets	53.35	53.4	53.32	77.57	78.65	83.81
Other Long-Term Assets	911.68	802.15	803.67	726.05	683.28	835.78
Total Assets	15,082	14,269	13,459	12,065	12,051	14,273
Current Portion of Long-Term Debt	899.96	866.6	625.49	25.49	777.84	603.01
Long-Term Debt	4,398	4,205	4,318	4,508	3,471	5,663
Accounts Payable	201.05	182.25	117.03	86.39	76.61	45.76
Accrued Expenses	-	46.9	39.03	44	43.23	44.39
Current Income Taxes Payable	-	7.1	6.86	7.59	5.23	3.94
Other Current Liabilities	20.65	73.02	51.85	51.2	47.59	39.53
Long-Term Deferred Tax Liabilities	628.13	627.86	607.56	613.19	613.48	681.01
Other Long-Term Liabilities	10.67	185.31	192.77	190.99	166.82	165.51
Total Liabilities	6,158	6,194	5,958	5,526	5,202	7,246
Common Stock	620	563.73	563.73	469.77	469.77	469.77
Additional Paid-In Capital	4,858	4,147	4,260	3,541	3,541	3,648
Retained Earnings	-35.59	779.96	276.48	-83.22	-107.63	507.32
Treasury Stock	-9.69	-10.03	-14.45	-15.41	-17.17	-32.31
Comprehensive Income & Other	3,491	2,594	2,416	2,627	2,963	2,434
Total Common Equity	8,923	8,074	7,501	6,539	6,849	7,027
Shareholders' Equity	8,923	8,074	7,501	6,539	6,849	7,027
Total Liabilities & Equity	15,082	14,269	13,459	12,065	12,051	14,273
Total Debt	5,298	5,072	4,943	4,533	4,249	6,266
Net Cash (Debt)	-3,552	-3,857	-3,390	-4,072	-3,820	-5,318
Net Cash Per Share	-6.16	-6.85	-6.65	-8.69	-8.16	-11.40
Filing Date Shares Outstanding	620	562.81	562.41	468.37	468.23	466.89
Total Common Shares Outstanding	620	562.81	562.41	468.37	468.23	466.89
Book Value Per Share	14.39	14.35	13.34	13.96	14.63	15.05
Tangible Book Value	8,919	8,070	7,500	6,537	6,847	7,025
Tangible Book Value Per Share	14.39	14.34	13.34	13.96	14.62	15.05