Realia Earns 22% Less due to Covid-19 and Refinances its Debt to 2025

28 April 2020 –

The real estate company controlled by Carlos Slim has closed the first quarter with a profit of €3.92 million. It has also announced the novation of its syndicated loan until 2025.

The listed real estate agency, Realia, closed the first quarter of 2020 with a profit of €3.94 million, down by 21.9% compared to the same period a year earlier.

The company, which is dedicated to property development and rental activities, increased its income and operating result (EBITDA); however, the increase in its provisions for Covid-19, which went from a gain of €74,000 to an expense of €1.87 million, weighed down its net result.

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Translation/Summary: Carmel Drake