Mercialys SA
PAR:MERY
Mercialys SA
Mercialys SA owns and manages commercial real estate properties. The company is headquartered in Paris, Ile-De-France and currently employs 137 full-time employees. The company went IPO on 2005-10-11. The company has the SIIC (real estate investment trust - REIT) status. The firm owns and manages a portfolio of assets, comprised mainly of commercial real estate properties, such as self-service restaurants, large shopping centers and small local centers of specialty shops and larger stores adjacent to hypermarkets or supermarkets owned by Groupe Casino. Mercialys SA leases the space primarily to national branded stores, chain stores or franchises, as well as to independent retailers. The Company’s support functions, such as property management, administration, finance and accounting, legal affairs, surveys and information technology are outsourced to various Groupe Casino units.
Mercialys SA owns and manages commercial real estate properties. The company is headquartered in Paris, Ile-De-France and currently employs 137 full-time employees. The company went IPO on 2005-10-11. The company has the SIIC (real estate investment trust - REIT) status. The firm owns and manages a portfolio of assets, comprised mainly of commercial real estate properties, such as self-service restaurants, large shopping centers and small local centers of specialty shops and larger stores adjacent to hypermarkets or supermarkets owned by Groupe Casino. Mercialys SA leases the space primarily to national branded stores, chain stores or franchises, as well as to independent retailers. The Company’s support functions, such as property management, administration, finance and accounting, legal affairs, surveys and information technology are outsourced to various Groupe Casino units.
COVID-19 Impact: Mercialys faced major operational disruptions in 2020 due to lockdowns, with over 60% of stores closed during the first lockdown and 50% in the second, deeply affecting rent collection and footfall.
Resilience: Despite the crisis, Mercialys’ shopping centers outperformed national benchmarks in footfall and sales declines, with tenant vacancy and asset values remaining relatively controlled.
Rent Collection: The rent collection rate for 2020 was 85.3%, significantly impacted by the crisis but supported by legal lease structures and relief measures for tenants.
Financials: Revenue and rental income declined, with invoiced rents down 8.4% and rental revenues down 8.6% year-over-year. Net debt and LTV ratios improved due to disposals.
Dividend Policy: The Board proposed a cautious dividend of €0.43 per share for 2020, focusing on preserving liquidity due to ongoing uncertainty.
Digital & Logistics Acceleration: Mercialys accelerated its digital and logistics initiatives, notably expanding its click-and-collect Ocitô platform to 26 centers.
Prudent Outlook: Management remains cautious for 2021 due to continued health restrictions and limited visibility, prioritizing balance sheet strength and selective investment.
