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Témpore registers €3.8M losses
12 March 2020 | Vanessa Sousa

The financial results announced this Wednesday by REIT Témpore Properties showed a negative net result of around 3.8 million euro. This is an amount 10 times smaller than that of last year.

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The information was advanced by the company to the Mercado Alternativo Bursátil, which also informed that the company’s EBITDA was also in the red at 1.7 million euro, whereas during the same period last year it had also registered a negative value, but significantly smaller: 376 thousand euro.

Throughout 2019 Témpore registered changes in its shareholder’s structure, since last July, Sareb sold 75% of its share in fund TPG Real Estate for around 247 million euro. By the end of that operation, Sareb controlled around 24% of the company.

Another change concerns its management, since Azora has already sealed the divorce with the REIT last month, with the asset management company’s representatives leaving the REIT’s board. This relationship had been active since February 2018.