Saint Croix Holding Immobilier, SOCIMI, S.A. Provides Earnings Guidance for the Year 2020
April 30, 2020 at 05:38 am EDT
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Saint Croix Holding Immobilier, SOCIMI, S.A. provided earnings guidance for the year 2020. The Commercial area suffers a decrease of 5% with respect to the 2019 financial year and a 23% decrease with respect to the estimate for the financial year 2020 before the appearance of the effects of Covid-19. The industrial area does not suffer relevant effects. In short, from the negotiations carried out in recent weeks, a drop in expected income for the year 2020 of 21% with respect to those obtained in the year 2019 and 32% compared to the estimate of the year in pre-Covid-19 conditions.
Saint Croix Holding Immobilier SOCIMI SA is a Spain-based company primarily engaged in the operation of hospitality real estate investment trusts (REITs). The Company focuses on the acquisition and development of urban properties for leasing. Its activities are divided into four segments: Hotels, operating touristic properties; Offices, developing real estate properties used for business purposes; Sales, leasing commercial premises, as well as Others, including logistics and distribution facilities. The Company's properties are located in a number of Spanish cities, such as Madrid and Huelva. Furthermore, It operates through various subsidiaries, including Compania Iberica de Bienes Raices 2009 SOCIMI SAU and Inveretiro SOCIMI SA.
SAINT CROIX HOLDING IMMOBILIER, SOCIMI, S.A. 
