The result is mainly explained by the integration in Colonial, as reported to the CNMV, concluded last February.
Apart from non-recurring expenses and revenues, Axiare Patrimonio would have achieved a profit of €8.2 million in the first quarter, yet 37% below from last year.
In the period under review, socimi's rental revenues increased by 18.2% to €15.86 million. EBITDA reached €11.77 million, 17.5% more.