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Merlin Properties reports 2025 revenues of EUR 565 million with stable outlook for 2026

#International News

Last Updated : 3rd Mar, 2026

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Synopsis

Merlin Properties reported total revenues of EUR 565 million for 2025, alongside an EBITDA of EUR 416 million, up nearly 10% year-on-year. The company generated FFO of EUR 327 million, or 58 cents per share, reflecting a 5.1% increase from the prior year. A dividend of EUR 0.44 per share has been proposed from 2025 results. With a stable FFO outlook for 2026, Merlin Properties continues to demonstrate strong operational performance and effective management of its commercial real estate portfolio, maintaining both revenue growth and shareholder returns amid steady market conditions.

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Merlin Properties SOCIMI SA recorded total revenues of EUR 565 million for 2025, reflecting steady performance in its real estate portfolio. The company reported an EBITDA of EUR 416 million, marking a 9.7% increase compared to the previous year. Funds from operations (FFO) reached EUR 327 million, equivalent to 58 cents per share, up 5.1% year-on-year, demonstrating consistent operational growth.

The board has proposed a dividend of EUR 0.44 per share, charged to the 2025 results. Looking ahead, Merlin Properties expects FFO to remain stable in 2026, maintaining a steady financial trajectory despite market fluctuations. Analysts note that the company has successfully managed its property assets and capital structure, which has supported both revenue growth and dividend stability over recent years.

Merlin Properties has historically focused on commercial real estate, including office and retail spaces in key Spanish markets. The 2025 results reaffirm its position in the sector, showing resilience and consistent operational efficiency. The company's disciplined management of leases, occupancy rates, and strategic property investments has helped sustain profitability, even in a market facing moderate economic challenges.

Source Reuters

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