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Renta Lost €9 Million in 2020 But Resumes the Launch of its Two New Hotel and Logistics Investment Vehicles

The Catalan real estate company ended 2020 with losses of 8.8 million euros compared to a profit of 17 million euros the previous year, after its revenues fell by 50%.

Edificio construido por Renta Corporacion en 22@ 708x1024 1 1

The Barcelona-based real estate company Renta Corporación ended 2020 with a significant drop in revenues, down by 50% to be specific, due to the slowdown in real estate activity following the Covid outbreak in Spain.

The company, which obtained turnover of 92 million euros in 2019, saw its revenues decrease to 46.1 million euros last year, due to a fall in both its transactional activity and its equity business. In this way, the revenues from the transactional business amounted to 38.8 million euros, down by 38.5% YoY – comprising 37 million euros from the sale of real estate and 1.8 million euros from the management of real estate projects; whilst the firm invoiced 6.2 million euros for its property business.

Read the full article in Spanish.

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