• Net profit attributable to shares decreased from €35m for Q1 19 to €2m for Q1 20, which is below the consensus expectation of €5m
• Loss allowances rose from €5m for Q1 19 to €58m for Q1 20 including €50m direct and indirect impacts of COVID-19
• Aareal considers a substantially positive consolidated operating profit should be achievable for FY2020
12 May 2020
Weak Q1 20 earnings due to COVID-19 increased loss allowances
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Weak Q1 20 earnings due to COVID-19 increased loss allowances
Aareal Bank AG (ARL:WBO) | 0 0 0.2% | Mkt Cap: 2,364m
- Published:
12 May 2020 -
Author:
Dieter Hein -
Pages:
3
• Net profit attributable to shares decreased from €35m for Q1 19 to €2m for Q1 20, which is below the consensus expectation of €5m
• Loss allowances rose from €5m for Q1 19 to €58m for Q1 20 including €50m direct and indirect impacts of COVID-19
• Aareal considers a substantially positive consolidated operating profit should be achievable for FY2020