Témpore, the Socimi Owned by TPG and Sareb, Doubled its Losses in 2020

Tempore closed 2020 with losses of 7.32 million euros, after recognising provisions amounting to 2.24 million euros for asset impairment.

Tempore Properties, the Socimi created by Sareb in which the investment fund TPG owns a stake, closed 2020 with an increase in its losses of almost 90%. Specifically, the listed company registered losses of 7.318 million euros last year compared to its negative result of 3.88 million euros in 2019.

The increase in the Socimi’s losses came despite the fact that the company achieved an improvement in its turnover. Specifically, Tempore’s turnover rose from 11.08 million euros in 2019 to 13.7 million euros in 2020. All of the Socimi’s income is generated by the provision of services.

Read the full article in Spanish.