Warimpex records loss for Q1’2020 on account of RUB exchange rate

WSE-listed real estate company Warimpex Group achieved a record profit of €66.5 million in 2019. However, the outbreak of the Covid-19 pandemic has resulted in a profound correction of growth forecasts around the world. In this context, one should also consider the net financial result for the first quarter of 2020 in the amount of minus €18.7 million, which, in addition to the lack of real estate sale transactions, resulted from losses due to currency translation, without a direct reference…