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MERCIALYS PRESS RELEASE Paris , April 19 , 2021 2021 first - quarter activity Start of the year still significantly marked by the health crisis Store opening restrictions since January and still in place Mercialys focused in priority on maintaining operational management efforts and protecting its balance sheet positions Vincent Ravat , Mercialys ' Chief Executive Officer : " The health crisis that began in 2020 is continuing in 2021 , with deep impacts linked to the government's decisions to close stores . Since the start of January 2021 , France has successively been faced with local then national curfews , restrictions on opening shopping centers and stores considered to be non - essential over 20,000 sq.m , then 10,000 sq.m , and , more recently , a third national lockdown , with all stores classed as non - essential closed regardless of their size . These restrictions on trading , which are unprecedented in terms of their duration , are due to be accompanied by government support measures for retailers , aiming in particular to allow them to honor their rent payments , but their deployment is still to be put in place . Nevertheless , we are seeing buoyant letting trends continuing with the hope of an end to the crisis and a normalization soon , highlighting the solidity of our sites . " I. Rental revenues down Mercialys ' business contracted during the first quarter of 2021 , with organic growth of -6.0 % , which includes a positive effect of + 0.5 % for indexation , more than offset by the combined impact of the effects of the health crisis for -6.5 % linked to the decrease in rents for Casual Leasing and variable rents , as well as the embedded impacts , for the closure periods , of the support granted to tenants in 2020 and the deferral of letting actions or their effects in a context of sites being closed again . Invoiced rents came to Euro 42.0 million , down -9.8 % compared with the first quarter of 2020 after factoring in scope effects , linked in particular to the asset sales completed in December 2020 . ( In thousands of euros ) Year to end - March 2020 Year to end - March 2021 Change Current basis ( % ) Change Like - for - like basis ( % ) Invoiced rents Lease rights 46,518 632 41,958 -9.8 % -6.0 % 635 + 0.5 % Rental revenues 47,150 42,593 -9.7 % 1