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 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Property, Plant & Equipment	11,517	10,888	10,647	10,721	12,306	12,146
Cash & Equivalents	1,375	1,553	461.22	429.45	866.72	252.02
Accounts Receivable	89.83	38.66	41.05	29.74	14.79	8.18
Other Receivables	-	21.44	21.55	20.11	24.83	25.19
Investment In Debt and Equity Securities	5.63	24.2	18.1	30.8	8.52	113.97
Other Intangible Assets	4.42	1.03	1.57	1.75	1.59	0.96
Loans Receivable Current	-	0.24	0.24	0.24	0.24	71.77
Other Current Assets	73.74	76.35	71.16	56.97	49.18	51.1
Trading Asset Securities	-	-	-	-	80.96	-
Deferred Long-Term Tax Assets	53.59	53.32	77.57	78.65	83.81	87.47
Other Long-Term Assets	837.54	803.67	726.05	683.28	835.78	720.5
Total Assets	13,956	13,459	12,065	12,051	14,273	13,478
Current Portion of Long-Term Debt	109.04	625.49	25.49	777.84	603.01	49.55
Long-Term Debt	5,081	4,318	4,508	3,471	5,663	5,758
Accounts Payable	137.81	117.03	86.39	76.61	45.76	49.79
Accrued Expenses	-	39.03	44	43.23	44.39	29.97
Current Income Taxes Payable	-	6.86	7.59	5.23	3.94	2.47
Other Current Liabilities	32.99	51.85	51.2	47.59	39.53	47.47
Long-Term Deferred Tax Liabilities	617.31	607.56	613.19	613.48	681.01	684.45
Other Long-Term Liabilities	6.95	192.77	190.99	166.82	165.51	159.73
Total Liabilities	5,985	5,958	5,526	5,202	7,246	6,781
Common Stock	563.73	563.73	469.77	469.77	469.77	469.77
Additional Paid-In Capital	4,147	4,260	3,541	3,541	3,648	3,813
Retained Earnings	583.14	276.48	-83.22	-107.63	507.32	121.49
Treasury Stock	-10.01	-14.45	-15.41	-17.17	-32.31	-54.15
Comprehensive Income & Other	2,687	2,416	2,627	2,963	2,434	2,346
Total Common Equity	7,971	7,501	6,539	6,849	7,027	6,696
Shareholders' Equity	7,971	7,501	6,539	6,849	7,027	6,696
Total Liabilities & Equity	13,956	13,459	12,065	12,051	14,273	13,478
Total Debt	5,190	4,943	4,533	4,249	6,266	5,807
Net Cash (Debt)	-3,816	-3,390	-4,072	-3,820	-5,318	-5,555
Net Cash Per Share	-7.48	-6.65	-8.69	-8.16	-11.40	-11.83
Filing Date Shares Outstanding	565.98	562.41	468.37	468.23	466.89	464.93
Total Common Shares Outstanding	565.98	562.41	468.37	468.23	466.89	464.93
Book Value Per Share	14.08	13.34	13.96	14.63	15.05	14.40
Tangible Book Value	7,966	7,500	6,537	6,847	7,025	6,695
Tangible Book Value Per Share	14.08	13.34	13.96	14.62	15.05	14.40

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.