Spazio Investment, the Amsterdam-based investment company focused on the Italian real estate market, said it reported a loss of EUR 8.6 mln in 2008, from a profit of EUR 45 mln a year before. The company's Net Asset Value per share stands at EUR 13.6, down from EUR 15.8 at end-June 2008. In a statement on Thursday, the company said it is scrapping its final dividend for 2008.
Spazio Investment, the Amsterdam-based investment company focused on the Italian real estate market, said it reported a loss of EUR 8.6 mln in 2008, from a profit of EUR 45 mln a year before. The company's Net Asset Value per share stands at EUR 13.6, down from EUR 15.8 at end-June 2008. In a statement on Thursday, the company said it is scrapping its final dividend for 2008.
'The board will be focused on ensuring that Spazio continues to maintain adequate headroom against its banking covenants whilst this uncertainty remains,' said John Duggan, Chairman of Spazio.
At the end of 2008, the company launched a EUR 450m asset disposal programme for the next three years.
