Tuesday, May 26, 2020
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Colonial Earns €32 Million in Q1, up by 39%, and Warns about the Impact of Coronavirus in 2020

The Socimi has reported that these results "do not yet reflect the potential impact of the crisis caused by the effects of Covid-19".

Colonial recorded a net attributable profit of €32 million during the first quarter of 2020, which represents an increase of 39% over the same period a year earlier, when it earned €23 million. Despite the good performance, the company has warned that these results “do not yet reflect the potential impact of the crisis caused by Covid-19.”

In this regard, they assure that the company’s activity “remains stable and the results of the first quarter reflect the strength of Colonial’s portfolio and the resistance of its business model.” The company obtained similar results to those of the same quarter of 2019, in terms of rental income and EBITDA, according to the accounts submitted to the National Securities Market Commission (CNMV).

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