BUENOS AIRES, Argentina,
Nov. 7, 2019 /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 2020 ended September 30,
2019.
HIGHLIGHTS
- Net result for IQ20 registered a gain of ARS 2,259 million compared to a gain of
ARS 3,489 million in IQ19. This is
mainly explained by lower results from changes in fair value of
investment properties during this period.
- The Company's Adjusted EBITDA for IQ20 reached ARS 1,484 million, decreasing in real terms by
2.6% compared to IQ19. Adjusted EBITDA for Shopping Malls decreased
by 14.5% while Adjusted EBITDA for Office segment increased by
67.6%.
- Our same Shopping Malls Sales grew by 46.2% in nominal terms
(-5.1% in real terms) in IQ20 compared to IQ19 and the portfolio's
occupancy rate reached 94.3%.
- On October 30, our Shareholders'
meeting approved a cash dividend for the sum of ARS 595 million (ARS/share 4.7217 and ARS/ADR
18.8868). Dividend yield 2.6%.
Financial
Highlights
|
|
(In millions of
Argentine Pesos)
|
IQ FY 2020
|
Ended September 30,
2019
|
|
|
|
Income
Statement
|
09/30/2019
|
09/30/2018
|
Revenues from sales,
leases and services
|
2,035.8
|
2,141.9
|
Consolidated Gross
Profit
|
1,827.5
|
1,909.0
|
Consolidated Profit
from Operations
|
7,709.8
|
8,642.9
|
Profit / (Loss) For
the Period
|
2,259.4
|
3,489.2
|
|
|
|
Attributable
to:
|
|
|
IRSA CP's
Shareholders
|
2,002.6
|
2,804.7
|
Non-Controlling
interest
|
256.8
|
684.5
|
|
|
|
EPS
(Basic)
|
15.89
|
22.26
|
EPS
(Diluted)
|
15.89
|
22.26
|
|
|
|
Balance
Sheet
|
09/30/2019
|
06/30/2019
|
Current
Assets
|
18,250.3
|
19,339.2
|
Non-Current
Assets
|
80,849.8
|
71,809.2
|
Total
Assets
|
99,100.1
|
91,148.4
|
Current
Liabilities
|
12,391.4
|
4,563.9
|
Non-Current
Liabilities
|
38,747.1
|
40,882.2
|
Total
Liabilities
|
51,138.5
|
45,446.1
|
Non-Controlling
Interest
|
2,708.0
|
2,451.2
|
Shareholders'
Equity
|
47,961.6
|
45,702.2
|
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 IQ FY 2020 Results Conference Call on
Monday, November 11, 2019 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:
https://webcastlite.mziq.com/cover.html?webcastId=19f41356-aee2-43c3-aa24-d54d2050b8e9
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.