Prelios closes the first quarter with a loss of 23,7 million euro

The Prelios group closed the first quarter of 2012 with a net loss of 23,7 million, against the profit of 10 million in the first quarter of 2011, which was affected by financial charges and property write-downs of 8,4 million (zero in the same period last year). Consolidated revenues decreased, equal to 32,9 million compared to 46,4 million in the first quarter of 2011. In particular, a press release informs, the revenues of the management platform in the first quarter of 2012 were equal to 30,9 million compared to 41,9 million as of March 2011.
The operating result was positive by 2,7 million, down compared to 19,5 million in the first quarter of 2011, which had been positively influenced by significant transactions, primarily the sale of the historic La Rinascente building in Piazza Duomo in Milan.
Consolidated shareholders' equity amounted to 304 million at the end of the first quarter (from 326,2 million at the end of 2011), while the shareholders' equity pertaining to the period amounted to 295,4 million (from 318,8 million at the end of 2011). The net financial position was negative for 494,8 million, a slight increase compared to 488 million at the end of 2011.