BUENOS AIRES, Argentina,
Feb. 8, 2018 /PRNewswire/
-- IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP; MERVAL:
IRCP), the leading commercial real estate company in Argentina, announces today its results for the
second quarter of FY 2018 ended December 31,
2017.
HIGHLIGHTS
- Net income for 6M18 reached ARS 11,582.8
million compared to ARS 2,085.7
million in 6M17 mainly explained by higher results from
changes in the fair value of investment properties due to the
impact of the Argentine tax reform and the effects on the exchange
rate on them.
- The Company's Adjusted EBITDA for 6M18 reached ARS 1,559.1 million, 19.2% higher than the same
period of 2017. Adjusted EBITDA of Malls' and Office segment
reached ARS 1,381.4 million and
ARS 191.9 million, respectively.
- Our shopping centers' sales grew by 22.6% in 6M18 vs. 6M17 and
occupancy increased to 99.1%.
- In October, our parent Company IRSA has sold 10,24 mm shares of
the company for ~ USD 138.2 million
increasing the float from 5.4% to 13.5%.
- During November 2017 the Company
has distributed to its Shareholders a cash dividend for a total
amount of ARS 680 million (ARS/share
5.3962 and ARS/ADR 21.5848).
|
Financial
Highlights
(In millions of Argentine Pesos)
IIQ18
Ended December 31, 2017
|
|
|
Income
Statement
|
12/31/2017
|
12/31/2016
|
|
Revenues from sales,
leases and services
|
2,055.7
|
1,679.6
|
|
Consolidated Gross
Profit
|
1,852.7
|
1,509.3
|
|
Consolidated Profit
from Operations
|
11,407.9
|
3,537,6
|
|
Profit / (Loss) For
the Period
|
11,582.8
|
2,085.7
|
|
|
|
|
Attributable
to:
|
|
|
|
IRSA CP's
Shareholders
|
11,242.1
|
2,002.9
|
|
Non-Controlling
interest
|
340.8
|
82.7
|
|
|
|
|
EPS
(Basic)
|
89.21
|
15.89
|
|
EPS
(Diluted)
|
89.21
|
15.89
|
|
|
|
|
Balance
Sheet
|
12/31/2017
|
06/30/2017
|
|
Current
Assets
|
7,435.4
|
4,515.3
|
|
Non Current
Assets
|
48,466.8
|
37,906.2
|
|
Total
Assets
|
55,902.2
|
42,421.5
|
|
Current
Liabilities
|
1,719.5
|
1,800.7
|
|
Non Current
Liabilities
|
20,263.6
|
17,604.6
|
|
Total
Liabilities
|
21,983.1
|
19,405.3
|
|
Non-Controlling
Interest
|
1,211.9
|
871.2
|
|
Shareholders'
Equity
|
33,919.1
|
23,016.2
|
IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP, ByMA: IRCP) is
the leading commercial real estate company of Argentina. It is the largest owner and manager
of shopping malls and one of the largest office buildings'
operators in terms of gross leasable area and number of rental
properties. Additionally, IRCP owns a unique landbank for future
commercial developments in Argentina.
A longer version of this press release with detailed information
is available on the web site: http://www.irsacp.com.ar
IRSA Propiedades Comerciales S.A. cordially invites you to
participate in the IIQ 2018 Results Conference Call on Friday, February 9, 2018 at 08:00 a.m. US EST.
If you would like to participate, please call:
1-844-308-3343 (toll free) ó
1-412-717-9602 (international)
Conference ID # IRSA CP
To access the webcast, click on the link below:
http://webcast.engage-x.com/Cover.aspx?PlatformId=ltoopVrxsb2plHDwIwshOg%3D%3D
Investor Relations Department
+ 5411 4323-7449
ir@irsacp.com.ar
www.irsacp.com.ar
Follow us on Twitter @irsacpir
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SOURCE IRSA Propiedades Comerciales S.A.