Ayco Lost Almost €4M in 2019 Despite a Seven-fold Increase in Turnover

The company closed the year with a negative result of €3.8 million, five times more than the losses of €842,000 that it recorded in 2018, according to data provided in the annual accounts filed with Spain’s National Securities Market Commission (CNMV).

Nevertheless, the group closed 2019 with turnover of almost €4 million, up almost seven-fold compared to €535,000 in 2018, as it began to deliver some of its homes, after a year (2018) in dry dock. Meanwhile, the operating result also continued its fall to a loss of €3.6 million.

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Translation/Summary: Carmel Drake

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