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Mercialys (MERY) investor relations material
Mercialys Q3 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Shop Park operating momentum strengthened through September 2026, with higher footfall and retailer sales, 98.2% financial occupancy and confirmed FY 2026 targets.
Everyday-low-price positioning and regional locations supported market-share gains amid modest household consumption growth.
Financial highlights
Invoiced rents reached €137.5 million, up 2.5% on a current-scope basis; rental revenues including lease rights were €138 million, up 2.6%.
Like-for-like gross rent growth was 2.3% over nine months, driven by 2.1% reversion and asset management, offsetting zero indexation.
Rent collection was 97.3% at end-September, stable vs. end-June; retailer sales rose 3.0% YTD, accelerating from 2.3% at end-June.
Outlook and guidance
FY 2026 RNR per share target confirmed at €1.30–€1.32, implying growth of 3.2%–4.8% vs. 2025; target dividend is at least €1.02 per share.
Project deliveries are expected to generate over €10 million in additional annual rents at full run-rate; full contribution from new leases is expected in 2027.
Indexation is expected to support growth in 2027–2028 as positive rent indices roll through lease anniversaries.
- H1 2026 saw robust rental growth, raised guidance, and strong operational execution.MERY
H1 2026 - Strong H1 2024 growth, robust portfolio, and ESG leadership drive future expansion.MERY
Investor presentation - Strong earnings growth, low vacancy, and robust ESG progress drive value and future outlook.MERY
Investor presentation - Record NRE and EBITDA margin, portfolio value up 10.1%, and €1.00 dividend proposed.MERY
H2 2025 - Footfall and sales growth outpaced the market, with 2025 guidance and new brand initiatives confirmed.MERY
Q3 2025 TU - 2025 NRE guidance raised as earnings rise 3.9% and portfolio value remains strong.MERY
H1 2025 - Organic rent growth and strong operational outperformance support confirmed 2024 guidance.MERY
Q3 2024 TU - NRE per share up 3.0%, portfolio rotation and guidance confirmed for 2024.MERY
H1 2024 - NRE up 3.8% to €113.1m, strong occupancy, and €1.00 dividend proposed for 2024.MERY
H2 2024
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