PA Nova forecasts strong decline in rental income
19:24
PA Nova forecasts a decline in rental income by approx. 80-85 percent during the period of trade restrictions, assuming that they will be in force until the end of June.
PA Nova said that it had analyzed the possible future effects of the epidemic in terms of activities related to the lease of commercial facilities. The company reminded that since March 14, retail trade-in commercial facilities with a sales area of more than 2,000 sqm is restricted. These regulations affected the commercial facilities of the group.
“The companies who own these facilities are currently conducting advanced talks with financing banks regarding the suspension of loan installments for a period of at least three months in order to ensure liquidity stabilization and the possibility of settling current liabilities,” the PA Nova announced.
After three quarters of 2019, the group had revenues of PLN 191.5 million compared to PLN 153.7 million a year ago. The company plans to publish an annual report for 2019 on April 16, 2020.
(PAP)
