The first-quarter results are relatively unaffected by the coronavirus crisis, as the company had partially and temporarily suspended the activity of the shopping center starting March 22, 2020, a few days before the end of the first quarter.
The turnover growth was due to new contracts concluded and become operational.
Its total expenses reached RON4.6 million in January-March 2020, up 5.8% mainly due to higher utility costs.
The company has a market value of RON210 million and is 54.4% held by Amadeus Group, which is entirely owned by Laurențiu Postovaru, while Gelu Manea holds a 16% stake.
The company’s shares have been falling 4.3% since the start of 2020, amid deals worth RON1 million.