Clemente (Merlin) accuses the “communists of Sumar” and the PSOE of “opening the gates of hell” to socimis | Companies

Merlin CEO Ismael Clemente assured that the “communists of Zumara”, together with the PSOE, “opened the doors of hell” for SOCIMI, proposing last Monday to abolish this tax regime from which they benefit. types of companies. The announcement was made at a conference call with analysts, which is usually called to explain the company’s reporting, but which this Friday began with Clemente’s views on the policy agreement. In particular, Merlin Properties’ stock market fell more than 7% on Tuesday after news of the agreement became known.

Clemente assured that the Ibex 35 index in which Merlin is listed has suffered from this “populism” and that although the liquidation of Socimis is only a proposal and has not materialized, its price has not yet been restored. since that autumn. The company’s shares are down nearly 4% this week, although they rose more than one percentage point this Friday.

The Governor argued that the law in which this proposal was formulated, which was a transposition of the European directive on the application of a minimum tax rate to multinational corporations, already excluded SOCIMI from this minimum, which was initially respected by the PSOE. However, the Sumar party, which Clemente called communists, later agreed with the PSOE on this measure, despite the manager stating that the socialists “always claimed to understand the social and economic motivation of the socimis.” “

According to Clemente, the agreement has not yet achieved sufficient consensus for approval “because it was not consulted or supported by the government’s technical bodies or the economic office of the president, nor by the Catalan and Basque conservative parties.” in relation to Junts and PNV, and according to Europa Press.

In any case, the company estimates that if ultimately approved, the decision would result in a maximum 8.5% reduction in operating profit in 2024, leading to a dividend cut by the same proportion. The manager explained that the tax benefits it still has on its balance sheet from the acquisition of a number of Metrovacesa assets in 2016 will limit the impact “for a few years and until common sense is restored.” He also acknowledged that there would be no difference whether the company remained in Spain or moved to another country, since its Spanish assets would be subject to Spanish taxes. development in this country, the share of its portfolio outside Spain will reach 20%, which will reduce the impact.