Merlin Properties Reports €87.4M FFO in Q1 2026, 3.9% Increase
Merlin Properties achieved a recurring profit of €87.4 million in Q1 2026, an increase of 3.9% year-over-year, driven by a 10.3% rise in rental income to €146 million. The company continues to expand its data center operations, projecting significant future income.
Theia Market Signal Identification - AI AssistedIn Q1 2026, Merlin Properties reported a recurring profit (FFO) of €87.4 million, up 3.9% from the previous year, as gross rental income rose 10.3% to €146 million. EBITDA increased by 11.4% to €113.6 million, with a profit margin of 77.7%.
The company is focused on its data centers, currently operating 64 MW across Madrid, Barcelona, and the Basque Country, with future expansions expected to generate €97 million in rental income by 2027. Financially, Merlin has a debt ratio of 24.4% and liquidity of €2.495 billion, with recent capital increases totaling €768 million.
The firm also plans to distribute €0.22 per share for 2025. Strategic asset sales include €6.8 million in non-core properties, with additional sales of €122.9 million planned for 2026-2027.
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