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Árima’s Earnings Decreased by 83% During H1

The Socimi led by Luis López Herrera Oria registered a 83% drop in its half-year earnings to 14.7 million euros, due to an increase in expenses that more than offset a 57% increase in its revenues.

Edificio de oficinas Cristalia de la Socimi Árima 1024x576 1
Office building owned by Árima in Madrid.

The Socimi Árima Real Estate, the investment vehicle created by the promoters of Axiare following its purchase by Colonial, closed the first half of 2020 with a significant drop in its net profit.

Specifically, the company – which has just closed the purchase of a turnkey office project in Manoteras (Madrid) – recorded net profits of 14.7 million euros, down by 83% compared to the same period a year ago.

Read the full article in Spanish.

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