A profit of just two million euros from a portfolio valued at 12 billion euros. That could be a superficial interpretation of the results for 2020 presented by the Socimi Colonial, one of only two real estate companies (together with Merlin) listed on the Ibex-35.
The company led by Juan José Brugera and Pere Viñolas closed 2020 with a net profit of 2 million euros. That figure contrasts (sharply) with the 827 million euro-profit it obtained a year earlier. However, at that time, 819 million euros was not generated by the business per se, but rather by the capital gains generated by the valuation of its real estate portfolio.
Read the full article in Spanish.
