Brief: Barcino Property Sees 5-10% Revenue Reduction In 2020 Due To COVID-19

Barcino Property Socimi SA

11/05/2020 08:01

May 11 (Reuters) - Barcino Property SOCIMI SA  YBAR.MC :
    * SAID ON FRIDAY INFORMS OF COVID-19 IMPACT ON COMPANY'S
BUSINESS
    * ESTIMATES 5-10% REDUCTION IN REVENUE COMPARED TO 2019
UNDER
ASSUMPTION OF LOWER OCCUPANCY UNTIL Q4 2020, DESPITE HAVING
GREATER NUMBER OF OPERATIONAL AND RENTAL PROPERTIES
    * SAYS IMPACT IS DUE TO LOWER OCCUPANCY AND PRICES OF
FURNISHED
UNITS, DIFFICULTY OF FILLING VACANCIES DURING CONFINEMENT,
DELAYS IN COMPLETION OF WORK AND RELAXATION OF PAYMENTS FOR
BENEFIT OF TENANTS IN MORE CRITICAL SITUATION
    * PROJECTED ANNUAL REVENUES FOR 15 BUILDINGS REHABILITATED
WITH
MEDIUM-TERM PERSPECTIVE SHOULD REACH 3 MILLION EUROS
    * SAYS IS ABLE TO COVER ITS COST BASE AND CAPEX COMMITTED
FOR 2020

    
    
 Source text: https://bit.ly/35MOkZ7
    
 Further company coverage:  YBAR.MC  
   


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