BUENOS AIRES, Argentina,
Sept. 6, 2019 /PRNewswire/
-- IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP; ByMA:
IRCP), the leading commercial real estate company in Argentina, announces its results for the FY
2019 ended June 30, 2019.
HIGHLIGHTS
- Net result for FY 2019 registered a loss of ARS 18,138 million compared to a gain of
ARS 14,237 million in FY18. This is
mainly explained by the loss registered from changes in fair value
of investment properties during this period.
- The Company's Adjusted EBITDA for FY19 reached ARS 5,266 million, decreasing in real terms by
12.9% compared to FY18. Adjusted EBITDA for Shopping Malls
decreased by 15.3% while Adjusted EBITDA for Office segment
increased by 96.7%.
- Our same Shopping Malls Sales grew by 28.6% in nominal terms
(-13.0% in real terms) in FY 2019 compared to FY2018 and the
portfolio's occupancy rate reached 94.7%.
- In 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)
|
|
FY 2019
|
|
Ended June 30,
2019
|
|
|
Income
Statement
|
06/30/2019
|
06/30/2018
|
|
Revenues from sales,
leases and services
|
7,575.0
|
7,823.3
|
|
Consolidated Gross
Profit
|
6,752.7
|
7,073.7
|
|
Consolidated Profit
from Operations
|
(20,733.2)
|
15,401.6
|
|
Profit / (Loss) For
the Period
|
(18,137.7)
|
14,237.4
|
|
|
|
|
Attributable
to:
|
|
|
|
IRSA CP's
Shareholders
|
(18,032.5)
|
13,730.6
|
|
Non-Controlling
interest
|
(105.2)
|
506.8
|
|
|
|
|
EPS
(Basic)
|
(143,10)
|
108,96
|
|
EPS
(Diluted)
|
(143.10)
|
108,96
|
|
|
|
|
Balance
Sheet
|
06/30/2019
|
06/30/2018
|
|
Current
Assets
|
17,185.8
|
16,589.1
|
|
Non-Current
Assets
|
63,813.0
|
89,617.8
|
|
Total
Assets
|
80,998.8
|
106,206.9
|
|
Current
Liabilities
|
4,055.8
|
4,069.7
|
|
Non-Current
Liabilities
|
36,330.1
|
42,685.6
|
|
Total
Liabilities
|
40,385.9
|
46,755.3
|
|
Non-Controlling
Interest
|
2,177.7
|
2,244.4
|
|
Shareholders'
Equity
|
40,612.9
|
59,451.6
|
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 FY 2019 Results Conference Call on Monday, September 9, 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:
https://webcastlite.mziq.com/cover.html?webcastId=a8652630-4493-4fde-adcf-a9bed02eb89b
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.