BUENOS AIRES, Argentina,
Aug. 23, 2018 /PRNewswire/
-- IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP; ByMA:
IRCP), the leading commercial real estate company in Argentina, announces its results for the FY
2018 ended June 30, 2018.
HIGHLIGHTS
- Net gain for the fiscal year 2018 reached ARS 15,656 million compared to a gain of
ARS 3,378 million in FY 2017. This
was mainly explained by higher results from changes in the fair
value of investment properties that compensated the net financial
losses generated by the currency devaluation in Argentina in the last quarter of the fiscal
year.
- The Company's Adjusted EBITDA reached ARS 3,161 million (USD 162
million) in the FY 2018 increasing by 21.7% compared to
2017. Adjusted EBITDA for Shopping Malls and Offices segments
reached ARS 2,748 million and
ARS 367 million, increasing by 24.5%
y 19.1% respectively.
- Our shopping centers' sales grew by 25.3% in the fiscal year
2018 and the portfolio's occupancy rate reached 98.5%.
- In March 2018, we acquired a
78,000 sqm plot of land in the city of La Plata for USD 7.5 million and in July 2018, we acquired the "Maltería Hudson"
property for USD 7 million. Both are
destined for the future development of mixed-use projects.
Financial
Highlights
|
(In millions of
Argentine Pesos)
|
FY 2018
|
Ended June 30,
2018
|
|
Income
Statement
|
06/30/2018
|
06/30/2017
|
Revenues from sales,
leases and services
|
4,232.2
|
3,509.0
|
Consolidated Gross
Profit
|
3,809.8
|
3,097.4
|
Consolidated Profit
from Operations
|
19,784.9
|
5,620.9
|
Profit / (Loss) For
the Period
|
15,656.0
|
3,377.5
|
|
|
|
Attributable
to:
|
|
|
IRSA CP's
Shareholders
|
15,099.9
|
3,260.5
|
Non-Controlling
interest
|
556.1
|
117.0
|
|
|
|
EPS
(Basic)
|
119.83
|
25.87
|
EPS
(Diluted)
|
119.83
|
25.87
|
|
|
|
Balance
Sheet
|
06/30/2017
|
06/30/2016
|
Current
Assets
|
10,670.4
|
4,515.3
|
Non-Current
Assets
|
57,073.7
|
37,906.2
|
Total
Assets
|
67,744.1
|
42,421.5
|
Current
Liabilities
|
2,496.8
|
1,800.7
|
Non-Current
Liabilities
|
27,284.4
|
17,604.6
|
Total
Liabilities
|
29,781.2
|
19,405.3
|
Non-Controlling
Interest
|
1,397.9
|
871.2
|
Shareholders'
Equity
|
37,962.9
|
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 and mixed-use 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 FY 2018 Results Conference Call on Friday, August 24, 2018 at 10:00 a.m. US EST, 11:00
a.m. BA.
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=4630ce4c-07c7-4b55-b281-e4644405d624
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.