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Vitruvio Forecasts a 53% Decrease in its Profits in 2020 Due to Covid

The Socimi has revised down the estimates for its results that it presented in November 2019 and now expects its profit at the end of the year to reach 1.2 million euros, down by 53%.

Ayala 101 Madrid Vitruvio 1024x683 2
Building at number 101 Calle Ayala in Madrid, owned by Vitruvio.

The Socimi Vitruvio has analysed the possible impact of Covid-19 on its accounts and has revised down the estimates it presented for its results in November 2019. Now, the listed company expects to make a profit of 1.2 million euros in 2020, down by 53% compared to last year’s forecast.

As reported by the firm to the Alternative Investment Market (MAB), its turnover is expected to fall to 7 million euros due to the impact of the pandemic, compared to the 8.3 million euros estimated in November, a decrease of 15.8%. In addition, the gross operating result is now forecast to be 4 million euros, compared to the expected figure of 5 million euros, which represents a drop of 20.7%.

Read the full article in Spanish.

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