BUENOS AIRES, Argentina,
Nov. 7, 2018 /PRNewswire/
-- IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP; ByMA:
IRCP), the leading commercial real estate company in Argentina, announces its results for the first
quarter of the FY 2019 ended September 30,
2018.
HIGHLIGHTS
- Net gain for the first quarter of FY 2019 reached ARS 7,795 million compared to a gain of
ARS 1,935 million in IQ18. 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 during the quarter.
- The Company's Adjusted EBITDA for IQ19 reached ARS 845 million increasing by 11.7% compared to
IQ18. Adjusted EBITDA for Shopping Malls and Offices segments
reached ARS 715 million and
ARS 157 million, increasing by 10.3%
and 67.6% respectively.
- Our shopping centers' sales grew by 24.1% in the first quarter
of FY 2019 and the portfolio's occupancy rate reached 98.7%.
- On October 29, our Shareholders'
meeting approved a cash dividend for the sum of ARS 545 million (ARS/share 4.3249 and ARS/ADR
17.2997). Dividend yield 1.9%.
- As a subsequent event, in November
2018, we acquired from our parent company IRSA 14,213 m2 of
the building under construction "Catalinas" for a fixed amount of
USD 60.3 million.
Financial
Highlights
|
|
(In millions of
Argentine Pesos)
|
IQ19
|
Ended September 30,
2018
|
|
|
|
Income
Statement
|
09/30/2018
|
06/30/2018
|
Revenues from sales,
leases and services
|
1,259.9
|
987.0
|
Consolidated Gross
Profit
|
1,118.9
|
887.1
|
Consolidated Profit
from Operations
|
13,262.0
|
3,069.0
|
Profit / (Loss) For
the Period
|
7,795.4
|
1,934.7
|
|
|
|
Attributable
to:
|
|
|
IRSA CP's
Shareholders
|
7,087.0
|
1,881.1
|
Non-Controlling
interest
|
708.4
|
53.6
|
|
|
|
EPS
(Basic)
|
56.24
|
14.93
|
EPS
(Diluted)
|
56.24
|
14.93
|
|
|
|
Balance
Sheet
|
09/30/2018
|
06/30/2018
|
Current
Assets
|
13,276.8
|
10,670.4
|
Non-Current
Assets
|
70,595.7
|
57,073.7
|
Total
Assets
|
83,872.5
|
67,744.1
|
Current
Liabilities
|
2,150.6
|
2,496.8
|
Non-Current
Liabilities
|
35,982.1
|
27,284.4
|
Total
Liabilities
|
38,132.7
|
29,781.2
|
Non-Controlling
Interest
|
2,106.3
|
1,397.9
|
Shareholders'
Equity
|
45,739.8
|
37,962.9
|
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 IQ19 Results Conference Call on Thursday, November 8, 2018 at 10:00 a.m. US EST, 12:00
p.m. BA.
If you would like to participate, please call:
1-844-717-6831 (toll free) or
1-412-317-6388 (international)
Conference ID # IRSA CP
To access the webcast, click on the link below:
http://webcastlite.mziq.com/cover.html?webcastId=2c36be56-eecd-4397-b0d8-5f4f58b6d7c4
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.