Full Year 2021 Mercialys SA Earnings Call Transcript
Good morning, everyone. It is 10:00 a.m. Let us start with this annual results meeting for the fiscal year of 2021 for Mercialys. Our presentation this morning will be divided into 3 parts. The first part will be presented by Ălizabeth Blaise, right here by my side, our Deputy CEO, who will discuss the strength of current demand for brick-and-mortar retail, real estate, then we'll come back to our growth pillars. And finally, we will detail our financial results for the past year and our objectives for the current year.
I suggest that we move on to Slide 4, where in summary, we can emphasize that Mercialys concluded 2021 with a stronger balance sheet, now solidly established as one of the most robust in the sector, even though the context remained adverse. We also continued to demonstrate the good liquidity of our portfolio by pursuing asset rotation through significant divestments. These 2 years of health crisis have fully demonstrated the relevance of our model, based on daily purchases in suburban areas, characterized by unprecedented demographic growth that has
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