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Advero increases revenues in 682%
13 April 2020 |

With a portfolio estimated at 17.9 million euro, REIT Advero Properties reached last year a 682% increase in its revenues.

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If, by the end of 2018, the REIT had only reached around 62 thousand euro in revenues, it closed last year with more than 489 thousand euro, according to the latest financial data issued by Advero at the Mercado Alternativo Bursátil.

In order to reach these revenues, the REIT has a profitable housing portfolio, composed by 5 buildings in Barcelona and one building in Madrid’s Tetuán district, which was acquired last year for 1.7 million euro. In total, the REIT has 93 residential units under its management.

Advero closed 2019 with a 64.724 euro net income, 44% higher yoy. The EBITDA also increased around 96% between the last two periods, reaching 88 thousand euro at the end of last year.

For the future, Advero has 2.19 million euro to continue investing and increasing its portfolio. But the REIT also admits that this amount will now serve «to face any significant adverse effect from COVID-19», it can be read in the document.