Property tax eats into Grivalia’s 2016 profits

EconomyCorporates Tags: Business, Corporates, Results
Photo by Harry van Versendaal
Photo by Harry van Versendaal

Grivalia Properties has released it end of year financial results for 2016, showing that the Group’s operating profit for the year came to amounted to 32.4 million euros compared to 64.9 million euros for 2015, a drop of 50 percent.

Net operating profits stood at 26.4 million euros compared to 61.9 million euros for 2015, a drop of 57.3 percent. Adjusted EBITDA stood at 46.1 million euros, up by 2 percent compared to the figure of 45.2 million euros for the previous year.

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