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Lar España Lost €53.7 Million in 2020 Due to a Decrease in the Value of its Assets

Despite closing the financial year 2020 with losses of 53.7 million euros, the Socimi increased its revenues by 15% to 93.3 million euros.

miguel pereda consejero delegado de grupo lar y consejero de Lar Espana socimi 1024x614 1 1

Lar España, a Socimi specialising in the promotion and management of retail parks and shopping centres, closed the financial year 2020 with losses of 53.7 million euros, compared to a profit of 80.7 million euros in 2019, due to a decrease in the valuation of its assets.

Specifically, the value of its asset portfolio, which comprises 15 shopping centres and retail parks, fell by 4.9%, to 1.475 billion euros. That represents an impairment of 76 million euros compared to the value recorded in 2019.

Read the full article in Spanish.

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