BUENOS AIRES, Argentina,
May 9, 2019 /PRNewswire/ -- IRSA
Propiedades Comerciales S.A. (NASDAQ: IRCP; ByMA: IRCP), the
leading commercial real estate company in Argentina, announces its results for the third
quarter of the FY 2019 ended March 31,
2019.
HIGHLIGHTS
- Net result for the nine-month period of FY 2019 registered a
loss of ARS 4,474 million compared to
a gain of ARS 12,402.6 million in
9M18, despite a gain registered in the 3rd quarter of
ARS 198 million. The 9M loss is mainly explained by lower results from
changes in fair value of investment properties.
- The Company's Adjusted EBITDA for 9M19 reached ARS 3,553.4
million, decreasing in real terms by 12.3% compared to 9M18.
Adjusted EBITDA for Shopping Malls decreased by 13.6% while
Adjusted EBITDA for Office segment increased by 72.5%.
- Our same Shopping Malls Sales grew by 26.1% in nominal terms
(-12.8% in real terms) in the 9M
period of FY 2019 compared to same period of FY2018 and the
portfolio's occupancy rate reached 94.5%.
- As a subsequent event, on May
2019, we opened with full occupancy the "Zetta" office
building in the "Polo Dot" commercial complex located in the North
Area of Buenos Aires City.
Financial
Highlights
(In
millions of Argentine Pesos)
9M19
Ended
March 31, 2019
|
Income
Statement
|
03/31/2019
|
03/31/2018
|
|
Revenues from sales,
leases and services
|
5,299.3
|
5,409.3
|
|
Consolidated Gross
Profit
|
4,758.8
|
4,852.7
|
|
Consolidated (Loss) /
Profit from Operations
|
(3,608.1)
|
9,617.0
|
|
(Loss) / Profit For
the Period
|
(4,473.9)
|
12,402.6
|
|
|
|
|
Attributable
to:
|
|
|
|
IRSA CP's
Shareholders
|
(4,611.1)
|
12,104.8
|
|
Non-Controlling
interest
|
137.2
|
297.8
|
|
|
|
|
EPS
(Basic)
|
(36.59)
|
96.06
|
|
EPS
(Diluted)
|
(36.59)
|
96.06
|
Balance
Sheet
|
03/31/2019
|
06/30/2018
|
|
Current
Assets
|
11,927.7
|
15,173.5
|
|
Non-Current
Assets
|
78,691.2
|
81,976.1
|
|
Total
Assets
|
90,618.9
|
97,149.6
|
|
Current
Liabilities
|
2,734.0
|
3,722.7
|
|
Non-Current
Liabilities
|
38,648.4
|
39,045.4
|
|
Total
Liabilities
|
41,382.4
|
42,768.1
|
|
Non-Controlling
Interest
|
2,227.0
|
2,053.1
|
|
Shareholders'
Equity
|
49,236.5
|
54,381.6
|
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 9M19 Results Conference Call on Friday, May 10, 2019 at 02:00 p.m. US EST, 03:00
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=d16f1a03-29c0-4fe2-a63c-9e863e112abc
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.