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EUR 100.00
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Sales: € 86.0 M (-1.1% vs. +1.1% BS(e));
EBITDA: € 64.0 M (0.0% vs. +6.3% BS(e));
Net Profit: € 32.0 M (+14.3% vs. +21.4% BS(e));
The company has released 1Q’20 results slightly below our estimates but this would be due mainly to seasonal factors linked to operating costs that we play down.
The drop in rental revenues would be due to the effect from the scope of consolidation and, in fact, performance in comparable rents was positive, with growth in all cities (+6% on average, with Madrid and Barcelona being particularly strong). No asset appraisals are made in 1Q. The company considers that the effect from Covid-19, which is difficult to estimate, might have a
COLONIAL: 1Q’20 RESULTS (ANÃLISIS BANCO SABADELL)
1Q'20 vs. 1Q'19 ResultsSales: € 86.0 M (-1.1% vs. +1.1% BS(e));
EBITDA: € 64.0 M (0.0% vs. +6.3% BS(e));
Net Profit: € 32.0 M (+14.3% vs. +21.4% BS(e));
The company has released 1Q’20 results slightly below our estimates but this would be due mainly to seasonal factors linked to operating costs that we play down.
The drop in rental revenues would be due to the effect from the scope of consolidation and, in fact, performance in comparable rents was positive, with growth in all cities (+6% on average, with Madrid and Barcelona being particularly strong). No asset appraisals are made in 1Q. The company considers that the effect from Covid-19, which is difficult to estimate, might have a
Underlying
Inmobiliaria Colonial (COL SM)
Provider
Sabadell
Ignacio Romero
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