BUENOS AIRES, Argentina,
May 8, 2018 /PRNewswire/ -- IRSA
Propiedades Comerciales S.A. (NASDAQ: IRCP; ByMA: IRCP), the
leading commercial real estate company in Argentina, announces today its results for the
third quarter of FY 2018 ended March 31,
2018.
HIGHLIGHTS
- Net income for 9M18 reached ARS 12,188.8
million compared to ARS 2,454.2
million in 9M17 mainly explained by higher results from
changes in the fair value of investment properties due the impact
of the Argentine tax reform and the effects of the exchange rate on
them.
- The Company's Adjusted EBITDA for 9M18 reached ARS 2,268.5 million, 17.6% higher than the same
period of 2017. Adjusted EBITDA of Malls' and Office segment
reached ARS 2,040.0 million and
ARS 275.1 million, increasing by
19.0% and 19.6% respectively.
- The Company's NOI for 9M18 reached ARS
2,581.0 million, 20.7% higher than the same period of 2017
and adjusted FFO reached ARS 1,525.0
million, increasing by 39.0% compared to 9M17.
- Our shopping centers' sales grew by 24% in 9M18 vs. 9M17 and
occupancy reached 98.6%.
- In March 2018, we acquired a plot
of land of 78,000 sqm in La Plata district for USD 7.5 million to develop a mixed-use real
estate project.
|
Financial
Highlights
|
|
(In millions of
Argentine Pesos)
|
|
IIIQ18
|
|
Ended March 31,
2018
|
|
|
|
|
Income
Statement
|
03/31/2018
|
03/31/2017
|
|
Revenues from sales,
leases and services
|
3,080.9
|
2,494.0
|
|
Consolidated Gross
Profit
|
2,749.7
|
2,246.6
|
|
Consolidated Profit
from Operations
|
12,710.4
|
3,796.7
|
|
Profit / (Loss) For
the Period
|
12,188.8
|
2,454.2
|
|
|
|
|
Attributable
to:
|
|
|
|
IRSA CP's
Shareholders
|
11,841.0
|
2,358.5
|
|
Non-Controlling
interest
|
347.8
|
95.6
|
|
|
|
|
EPS
(Basic)
|
93.97
|
18.71
|
|
EPS
(Diluted)
|
93.97
|
18.71
|
|
|
|
|
Balance
Sheet
|
03/31/2018
|
06/30/2017
|
|
Current
Assets
|
8,464.1
|
4,515.3
|
|
Non Current
Assets
|
49,733.3
|
37,906.2
|
|
Total
Assets
|
58,237.5
|
42,421.5
|
|
Current
Liabilities
|
1,824.8
|
1,800.7
|
|
Non Current
Liabilities
|
20,263.6
|
17,604.6
|
|
Total
Liabilities
|
21,871.8
|
19,405.3
|
|
Non-Controlling
Interest
|
1,234.8
|
871.2
|
|
Shareholders'
Equity
|
34,540.9
|
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 IIIQ 2018 Results Conference Call on
Wednesday, May 9, 2018 at
09:00 a.m. US EST.
If you would like to participate, please call:
1-844-308-3343 (toll free) or
1-412-717-9602 (international)
Conference ID # IRSA CP
To access the webcast, click on the link below:
http://webcastlite.mziq.com/cover.html?webcastId=9e36bfc6-d130-45a3-be80-94d57764122a
Investor Relations Department
+5411-4323-7449
ir@irsacp.com.ar
www.irsacp.com.ar
Follow us on Twitter @irsacpir
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content:http://www.prnewswire.com/news-releases/irsa-propiedades-comerciales-sa-announces-results-for-the-third-quarter-of-fy-2018-ended-march-31-2018-300644768.html
SOURCE IRSA Propiedades Comerciales S.A.