Lar España Real Estate SOCIMI, S.A. Reports Earnings Results for the First Quarter Ended March 31, 2023
May 18, 2023
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Lar España Real Estate SOCIMI, S.A. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was EUR 24.2 million compared to EUR 19.9 million a year ago. Revenue was EUR 25.1 million compared to EUR 20.6 million a year ago.
Net income was EUR 31.9 million compared to EUR 6.6 million a year ago.
Lar Espana Real Estate SOCIMI SA is a Spain-based company primarily engaged in the operation of retail Real Estate Investment Trusts (REITs). The Company specializes in acquiring, managing and renting real estate assets within the Spanish market. Its business activities are divided into three segments: Shopping Centers, Offices, as well as Logistics. The Shopping Centers area is responsible for operation of a number of shopping malls, namely Txingudi, Las Huertas, Albacenter, Anec Blau, Hiper Albacenter, and Nuevo Alisal, among others. The Offices segment invests in office properties, such as Arturo Soria, Cardenal Marcelo Spinola, Egeo and Eloy Gonzalo. The Logistics division focuses on managing logistics warehouses, including Alovera I and Alovera II. The Company also owns a plot for residential properties development. It is a parent of a number of entities, such as Lar Espana Inversion Logistica SA, Gran Via Centrum Holdings SAU, Global Noctua and Puerta Maritima Ondara.
LAR ESPAÑA REAL ESTATE SOCIMI, S.A. 