Mercialys - Q1 trading update
Rental revenues stood at EUR 45.5m, up 4.4% YoY. On a LfL basis, rents were up 4.6%, primarily driven by indexation (+4.6%). The company notes that it witnesses a moderation of reversion levels and focuses on limiting the volatility of the vacancy rate.Q1 footfall was up 2.9% vs 2.1% on the Quantaflow national index. The company continues to expect an upturn in footfall as part of the supermarket replacement. Q1 retailer sales were up 3.3% YoY, with the company witnessing an upturn in growth towards the end of the quarter.The company reiterates its 2024 guidance targeting FFOps growth of atMercialys is a real estate company, specialized in the transformation and management of shopping centers. Co. manages a portfolio of 91 properties located throughout France at Dec 31, 2013. Co.'s assets are classified into three categories: large regional shopping centers (GLA of over 365,800 sq. m.), neighborhood shopping centers (GLA of over 181,600 sq. m.), and Other assets (40,900 sq. m.). At Dec. 31, 2013, the portfolio comprised 25 large regional shopping centers, 36 neighborhood shopping centers, and 18 other sites such as food stores, specialty stores, independent cafeterias, service malls, and convenience stores, representing a total gross leasable area of about 588,300 sq. m.
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