The Socimi Árima Real Estate generated rental income of €1.3 million during the first quarter of 2020, which represents an increase of 131% compared to the first quarter of the previous year, when it recorded revenues of €571,000, according to data published by the National Securities Market Commission (CNMV).
Despite this increase in revenues, the company recorded losses of €624,000 in the first quarter of this year, whereas it made a profit of €3.6 million in 2019. That is due to the asset revaluation exercise that the company carried out during the first quarter of 2019, which resulted in a profit of €3.9 million.
