Vía Célere’s Revenues Doubled but its Profit Decreased by 73%

6 May 2020 – Brainsre.news

The property developer controlled by Värde Partners generated revenues of €363 million in 2019, compared to €157 million the previous year, however, its profit fell by 73% due to a drop in extraordinary income.

The house builder Vía Célere closed 2019 with a profit of €22 million euros, which represents a drop of 73% compared to the previous year.

The company attributes this decrease to a decrease in extraordinary income since the attributable profit in 2018 included non-recurring income of €86.5 million, resulting from the recognition of tax credits with the Treasury and the capitalisation of debt. Without those extraordinary items, the profit would have been €23 million higher.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake