FIRST QUARTER 2020 FINANCIAL INFORMATION
The consolidated turnover of the PAREF Group amounted to € 10.3 million for the 1st quarter 2020. It consists of:
-Gross rental income up by 20% thanks to the acquisition of floors in the Franklin Tower, offset by the disposals made in 2019 and the impact of the The Go restructuring project;
-Management fees up 31% due to the increase in assets under management of funds managed on behalf of third parties and in particular income from the PIM Italy platform acquired in 3rd quarter 2019;
-Subscription fees down by 21% resulting from a marked slowdown in collection in the context of Covid-19.