Mercialys’ guidance of a 2% rise in FFO in FY 22 reflects the landing performance of spared local assets. The 21% return expected in 2022-23 (dividend only) looks sufficient to support our Buy recommendation. Risk-reward looks favourable.

15 Feb 2022
Slight FFO increase awaited in FY 22; play the dividend

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Slight FFO increase awaited in FY 22; play the dividend
- Published:
15 Feb 2022 -
Author:
Christian Auzanneau -
Pages:
4 -
Mercialys’ guidance of a 2% rise in FFO in FY 22 reflects the landing performance of spared local assets. The 21% return expected in 2022-23 (dividend only) looks sufficient to support our Buy recommendation. Risk-reward looks favourable.