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21/05/2024-14:00

FINANCIAL INFORMATION FOR THE 3RD QUARTER 2020

FINANCIAL INFORMATION AS AT SEPTEMBER 30, 2020 AND CHANGE IN MANAGEMENT TEAM OF PAREF GROUP

    Consolidated turnover

  • The consolidated revenue of PAREF amounts to €25.5m as at September 30, 20201, explained by:1 which is explained by:

    • a significant increase in rental income (+50% compared to the same period in 2019) following the acquisition in Franklin tower in September 2019 and hanks to the active asset management resulting in rental income increase by 3.5% on a like-for-like basis,

    • a growth in management commissions (+2.7%) linked to the increasing asset under management and the acquisition of the Italian platform in 2019,

    • a decrease in subscription commissions (-15% compared to the same period in 2019 after the adjustment of the exceptional event in 2019, -32% without adjustment). The decrease is explained by a slowed down rhythm of retail investments into SCPI products in the continuing context of sanitary crisis.

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