BUENOS AIRES, Argentina, May 8, 2018 /PRNewswire/ -- IRSA Propiedades Comerciales S.A. IRCPIRCP)), the leading commercial real estate company in Argentina, announces today its results for the third quarter of FY 2018 ended March 31, 2018.

HIGHLIGHTS

• Net income for 9M18 reached ARS 12,188.8 million compared to ARS 2,454.2 million in 9M17 mainly explained by higher results from changes in the fair value of investment properties due the impact of the Argentine tax reform and the effects of the exchange rate on them.
  
     
• The Company's Adjusted EBITDA for 9M18 reached ARS 2,268.5 million, 17.6% higher than the same period of 2017. Adjusted EBITDA of Malls' and Office segment reached ARS 2,040.0 million and ARS 275.1 million, increasing by 19.0% and 19.6% respectively.
  
     
• The Company's NOI for 9M18 reached ARS 2,581.0 million, 20.7% higher than the same period of 2017 and adjusted FFO reached ARS 1,525.0 million, increasing by 39.0% compared to 9M17.
  
     
• Our shopping centers' sales grew by 24% in 9M18 vs. 9M17 and occupancy reached 98.6%.
  
     
• In March 2018, we acquired a plot of land of 78,000 sqm in La Plata district for USD 7.5 million to develop a mixed-use real estate project.

IRSA Propiedades Comerciales S.A. IRCPIRCP)) 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 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 IIIQ 2018 Results Conference Call on Wednesday, May 9, 2018 at 09:00 a.m. US EST.

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=9e36bfc6-d130-45a3-be80-94d57764122a

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.