FINANCIAL INFORMATION AS AT SEPTEMBER 30, 2020 AND CHANGE IN MANAGEMENT TEAM OF PAREF GROUP
- The consolidated revenue of PAREF amounts to €25.5m as at September 30, 20201, 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.