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Libertas 7 Lost €1.2 Million in H1 Due to Covid but Pushes Ahead with its New Developments

The company recorded a net loss of 1.2 million euros in the first half of 2020, compared to a profit of 1.37 million in 2019.

Directivos de Libertas 7
José Luis Contreras, Agnès Noguera and José Tormo, the group’s three main directors.

As reported by Libertas 7 to the National Securities Market Commission (CNMV), the fall in the company’s results is “undoubtedly a reflection of the economic crisis stemming from the coronavirus pandemic.” As such, total ordinary income fell by 66% to 1.38 million euros, and operating income fell by 55.6%, to 0.99 million euros.

The group’s equity decreased by 7% between the end of 2019 and June 2020, to 89 million euros. It represents 58% of the value of assets on the balance sheet (153 million euros), in a context in which all of the players in the sector are reviewing their business plans.

Read the full article in Spanish.

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