BUENOS AIRES, Argentina, Feb. 10, 2020 /PRNewswire/ -- IRSA Propiedades Comerciales S.A. IRCPIRCP)), the leading commercial real estate company in Argentina, announces its results for the second quarter of the FY 2020 ended December 31, 2019.
HIGHLIGHTS
- Net result for the first half of fiscal year 2020 registered a loss of ARS 250 million compared to a loss of ARS 6,426 million in the same period of 2019. This lower loss is explained by higher operating results and changes in the fair value of investment properties and a loss in net financial results, mainly due to exchange rate differences.
- The Company's Adjusted EBITDA for the first half of fiscal year 2020 reached ARS 3,459 million, decreasing in real terms by 9.1% compared to the same period of 2019. Adjusted EBITDA for Shopping Malls decreased by 18.7% while Adjusted EBITDA for Office segment increased by 36.8%.
- Our same Shopping Malls Sales grew by 0.4% in real terms for the first half of fiscal year 2020 and by 5.6% for the second quarter when compared to the same period of 2019 and the portfolio's occupancy rate reached 95.0%.
- On November 13, 2019, the Company distributed among its shareholders a cash dividend in an amount of ARS 595,000,000 (ARS/Share 4.7217 y ARS/ADR 18.8868).
Financial Highlights | ||
(In millions of Argentine Pesos) | ||
6M FY 2020 | ||
Income Statement | 12/31/2019 | 12/31/2018 |
Revenues from sales, leases and services | 5,004.9 | 5,061.9 |
Consolidated Gross Profit | 4,524.4 | 4,546.4 |
Consolidated Profit / (Loss) from Operations | 5,643.9 | (6,083.8) |
Profit / (Loss) For the Period | (250.4) | (6,426.2) |
Attributable to: | ||
IRSA CP's Shareholders | (381.4) | (6,694.3) |
Non-Controlling interest | 131.0 | 268.1 |
EPS (Basic) | (3.03) | (53.12) |
EPS (Diluted) | (3.03) | (53.12) |
Balance Sheet | 12/31/2019 | 06/30/2019 |
Current Assets | 18,950.8 | 21,623.2 |
Non-Current Assets | 86,065.2 | 80,289.9 |
Total Assets | 105,016.0 | 101,913.1 |
Current Liabilities | 12,807.6 | 5,103.0 |
Non-Current Liabilities | 42,131.2 | 45,710.5 |
Total Liabilities | 54,938.8 | 50,813.5 |
Non-Controlling Interest | 2,795.4 | 2,740.7 |
Shareholders' Equity | 50,077.1 | 51,099.7 |
IRSA Propiedades Comerciales cordially invites you to participate in the IIQ FY 2020 Results Conference Call on Tuesday, February 11, 2020 at 12:00 p.m. US EST, 02:00 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:
http://webcastlite.mziq.com/cover.html?webcastId=39cc93c4-3bdb-43e8-ac67-9e9414429c2f
Investor Relations Department
+5411-4323-7449
ir@irsacp.com.ar
https://www.irsacp.com.ar/home-inversores.php?lng=en
Follow us on Twitter @irsacpir
SOURCE IRSA Propiedades Comerciales S.A.
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