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Renta Recorded Losses of €1.3 Million in H1 and Does Not Expect to Fulfil its Forecasts for 2020

The listed real estate company has indicated that the evolution of its business since the start of the pandemic has been unfavourable and that it could be affected until the end of the year.

Edificio oficinas augusta de renta corporacion

The results for the first half of the year of the listed Catalan real estate company Renta Corporación have been impacted significantly by the Covid-19 crisis, especially in the period between April and June. Those are the findings from the information submitted to the National Securities Market Commission (CNMV) yesterday, which reveals that the company recorded losses of 1.3 million euros during the first six months of 2020, compared to 5.1 million euros in the same period last year.

“The business performance since the start of the pandemic has been clearly unfavourable, especially in the second quarter, and we expect that it could continue to be affected until the end of the year. This has resulted in a delay in the materialisation of the operations foreseen for the first half of the year, which has had a direct impact on the operating margin and, therefore, on the result for the period”, say sources at Renta.

Read the full article in Spanish.

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