|
Note
|
03.31.21
|
06.30.20
|
ASSETS
|
|
|
|
Non-current assets
|
|
|
|
Investment
properties
|
8
|
135,164
|
159,052
|
Property,
plant and equipment
|
9
|
1,287
|
477
|
Trading
properties
|
10
|
247
|
246
|
Intangible
assets
|
11
|
1,325
|
1,378
|
Rights
of use assets
|
12
|
745
|
780
|
Investments
in associates and joint ventures
|
7
|
5,333
|
6,276
|
Deferred
income tax assets
|
19
|
258
|
299
|
Income
tax and minimum presumed income tax credits
|
|
9
|
10
|
Trade
and other receivables
|
14
|
8,243
|
6,895
|
Investments
in financial assets
|
13
|
10
|
-
|
Total non-current assets
|
|
152,621
|
175,413
|
Current Assets
|
|
|
|
Trading
properties
|
10
|
4
|
9
|
Inventories
|
|
42
|
53
|
Income
tax and minimum presumed income tax credits
|
|
156
|
133
|
Trade
and other receivables
|
14
|
5,719
|
5,252
|
Derivative
financial instruments
|
13
|
9
|
9
|
Investments
in financial assets
|
13
|
8,217
|
8,486
|
Cash
and cash equivalents
|
13
|
558
|
6,263
|
Total current assets
|
|
14,705
|
20,205
|
TOTAL ASSETS
|
|
167,326
|
195,618
|
SHAREHOLDERS’ EQUITY
|
|
|
|
Total
capital and reserves attributable to equity holders of the parent
(according to corresponding statement)
|
|
80,342
|
96,771
|
Non-controlling
interest
|
|
5,506
|
5,535
|
TOTAL SHAREHOLDERS’ EQUITY
|
|
85,848
|
102,306
|
LIABILITIES
|
|
|
|
Non-current liabilities
|
|
|
|
Trade
and other payables
|
16
|
1,162
|
1,677
|
Borrowings
|
17
|
33,897
|
35,981
|
Deferred
income tax liabilities
|
19
|
31,351
|
32,462
|
Provisions
|
18
|
69
|
98
|
Derivative
financial instruments
|
13
|
16
|
47
|
Leases
liabilities
|
|
805
|
815
|
Total non-current liabilities
|
|
67,300
|
71,080
|
Current liabilities
|
|
|
|
Trade
and other payables
|
16
|
6,360
|
4,821
|
Income
tax liabilities
|
|
1
|
6
|
Payroll
and social security liabilities
|
|
307
|
251
|
Borrowings
|
17
|
7,322
|
16,922
|
Derivative
financial instruments
|
13
|
59
|
110
|
Provisions
|
18
|
76
|
58
|
Leases
liabilities
|
|
53
|
64
|
Total current liabilities
|
|
14,178
|
22,232
|
TOTAL LIABILITIES
|
|
81,478
|
93,312
|
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES
|
|
167,326
|
195,618
|
|
|
Nine months
|
Three months
|
||
|
Note
|
03.31.21
|
03.31.20
|
03.31.21
|
03.31.20
|
Income
from sales, rentals and services
|
20
|
5,668
|
10,470
|
2,173
|
2,773
|
Income
from expenses and collective promotion fund
|
20
|
2,008
|
3,552
|
734
|
1,180
|
Operating
costs
|
21
|
(2,956)
|
(4,597)
|
(1,044)
|
(1,482)
|
Gross profit
|
|
4,720
|
9,425
|
1,863
|
2,471
|
Net
(loss)/gain from fair value adjustments of investment
properties
|
8
|
(10,679)
|
533
|
(14,325)
|
(2,648)
|
General
and administrative expenses
|
21
|
(1,490)
|
(1,327)
|
(434)
|
(332)
|
Selling
expenses
|
21
|
(844)
|
(713)
|
(91)
|
(162)
|
Other
operating results, net
|
22
|
(23)
|
164
|
(7)
|
45
|
(Loss)/ profit from operations
|
|
(8,316)
|
8,082
|
(12,994)
|
(626)
|
Share
of (loss)/ profit of associates and joint ventures
|
7
|
(936)
|
333
|
(867)
|
(91)
|
(Loss)/ profit from operations before financing and
taxation
|
|
(9,252)
|
8,415
|
(13,861)
|
(717)
|
Finance
income
|
23
|
713
|
539
|
(55)
|
240
|
Finance
cost
|
23
|
(3,615)
|
(3,472)
|
(1,162)
|
(990)
|
Other
financial results
|
23
|
4,471
|
(6,395)
|
911
|
(1,140)
|
Inflation
adjustment
|
23
|
1,769
|
20
|
430
|
267
|
Financial results, net
|
|
3,338
|
(9,308)
|
124
|
(1,623)
|
Loss before income tax
|
|
(5,914)
|
(893)
|
(13,737)
|
(2,340)
|
Income
tax expense
|
19
|
1,120
|
(1,491)
|
2,972
|
341
|
Loss for the period
|
|
(4,794)
|
(2,384)
|
(10,765)
|
(1,999)
|
|
|
|
|
|
|
Other comprehensive income/(loss) for the period: (i)
|
|
|
|
|
|
Items that may be reclassified subsequently to profit or
loss:
|
|
|
|
|
|
Currency
translation adjustment in associates
|
7
|
(19)
|
(13)
|
(48)
|
(13)
|
Revaluation
surplus
|
|
163
|
-
|
46
|
-
|
Other comprehensive income/(loss) for the period
|
|
144
|
(13)
|
(2)
|
(13)
|
Total comprehensive loss for the period
|
|
(4,650)
|
(2,397)
|
(10,767)
|
(2,012)
|
|
|
|
|
|
|
Total comprehensive loss attributable to:
|
|
|
|
|
|
Equity
holders of the parent
|
|
(4,780)
|
(2,515)
|
(10,158)
|
(1,930)
|
Non-controlling
interest
|
|
(14)
|
131
|
(607)
|
(69)
|
|
|
|
|
|
|
Attributable to:
|
|
|
|
|
|
Equity
holders of the parent
|
|
144
|
(13)
|
(2)
|
(13)
|
|
|
|
|
|
|
Loss per share attributable to equity holders of the parent for the
period: (ii)
|
|
|
|
|
|
Basic
|
|
(8.83)
|
(19.96)
|
(18.77)
|
(15.32)
|
Diluted
|
|
(8.83)
|
(19.96)
|
(18.77)
|
(15.32)
|
|
Share capital
|
Inflation adjustment of share capital
|
Share premium
|
Legal reserve
|
Special reserve CNV 609/12 (1)
|
Other reserves
|
Retained earnings
|
Subtotal
|
Non-controlling interest
|
Total shareholder’s equity
|
Balance as of June 30, 2020
|
126
|
4,634
|
13,077
|
181
|
12,497
|
43,121
|
23,135
|
96,771
|
5,535
|
102,306
|
Loss
for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
(4,780)
|
(4,780)
|
(14)
|
(4,794)
|
Other
comprehensive income for the period
|
-
|
-
|
-
|
-
|
-
|
144
|
-
|
144
|
-
|
144
|
Capitalization
of reserves - Shareholders’ meeting as of October 26, 2020
(2)
|
53,997
|
14,510
|
(13,077)
|
-
|
(12,497)
|
(42,933)
|
-
|
-
|
-
|
-
|
Dividend
distribution - Shareholders’ meeting as of October 26, 2020
(2)
|
-
|
-
|
-
|
-
|
-
|
-
|
(11,755)
|
(11,755)
|
-
|
(11,755)
|
Assignment
of results - Shareholders’ meeting as of October 26, 2020
(2)
|
-
|
-
|
-
|
1,157
|
-
|
8,847
|
(10,004)
|
-
|
-
|
-
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
-
|
(38)
|
-
|
(38)
|
(15)
|
(53)
|
Balance as of March 31, 2021
|
54,123
|
19,144
|
-
|
1,338
|
-
|
9,141
|
(3,404)
|
80,342
|
5,506
|
85,848
|
|
Reserve for future dividends
|
Special reserve
|
Other reserves
|
Currency translation adjustment
|
Revaluation surplus (1)
|
Changes in non-controlling interest
|
Total other reserves
|
Balance as of June 30, 2020
|
42,821
|
204
|
-
|
(29)
|
370
|
(245)
|
43,121
|
Other
comprehensive income for the period
|
-
|
-
|
-
|
(19)
|
163
|
-
|
144
|
Capitalization
of reserves - Shareholders’ meeting as of October 26, 2020
(2)
|
(42,821)
|
(204)
|
92
|
-
|
-
|
-
|
(42,933)
|
Assignment
of results - Shareholders’ meeting as of October 26, 2020
(2)
|
-
|
8,847
|
-
|
-
|
-
|
-
|
8,847
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
-
|
(38)
|
(38)
|
Balance as of March 31, 2021
|
-
|
8,847
|
92
|
(48)
|
533
|
(283)
|
9,141
|
|
Share capital
|
Inflation adjustment of share capital
|
Share premium
|
Legal reserve
|
Special reserve CNV 609/12 (1)
|
Other reserves
|
Retained earnings
|
Subtotal
|
Non-controlling interest
|
Total shareholder’s equity
|
Balance as of June 30, 2019
|
126
|
4,634
|
13,077
|
181
|
12,497
|
100,662
|
(56,814)
|
74,363
|
4,214
|
78,577
|
Loss
for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
(2,515)
|
(2,515)
|
131
|
(2,384)
|
Other
comprehensive loss for the period
|
-
|
-
|
-
|
-
|
-
|
(13)
|
-
|
(13)
|
-
|
(13)
|
Dividend
distribution - Shareholders’ meeting as of October 30,
2019
|
-
|
-
|
-
|
-
|
-
|
(990)
|
-
|
(990)
|
(198)
|
(1,188)
|
Assignment
of results - Shareholders’ meeting as of October 30,
2019
|
-
|
-
|
-
|
-
|
-
|
(56,814)
|
56,814
|
-
|
-
|
-
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
-
|
(80)
|
-
|
(80)
|
80
|
-
|
Balance as of March 31, 2020
|
126
|
4,634
|
13,077
|
181
|
12,497
|
42,765
|
(2,515)
|
70,765
|
4,227
|
74,992
|
|
Reserve for future dividends
|
Special reserve
|
Currency translation adjustment
|
Changes in non-controlling interest
|
Total other reserves
|
Balance as of June 30, 2019
|
43,812
|
57,016
|
-
|
(166)
|
100,662
|
Other
comprehensive loss for the period
|
-
|
-
|
(13)
|
-
|
(13)
|
Assignment
of results - Shareholders’ meeting as of October 30,
2019
|
(990)
|
(56,814)
|
-
|
-
|
(57,804)
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
(80)
|
(80)
|
Balance as of March 31, 2020
|
42,822
|
202
|
(13)
|
(246)
|
42,765
|
|
Note
|
03.31.21
|
03.31.20
|
Operating activities:
|
|
|
|
Cash
generated from operations
|
15
|
3,133
|
7,004
|
Income
tax paid
|
|
(26)
|
(146)
|
Net cash generated from operating activities
|
|
3,107
|
6,858
|
|
|
|
|
Investing activities:
|
|
|
|
Capital
contributions in associates and joint ventures
|
|
(26)
|
(55)
|
Changes
in non-controlling interest in subsidiaries
|
|
(53)
|
-
|
Acquisition
of investment properties
|
|
(3,317)
|
(1,461)
|
Acquisition
of property, plant and equipment
|
|
(134)
|
(144)
|
Advance
payments
|
|
(47)
|
(1,325)
|
Acquisition
of intangible assets
|
|
(9)
|
(32)
|
Acquisitions
of investments in financial assets
|
|
(9,874)
|
(13,278)
|
Proceeds
from investments in financial assets
|
|
15,469
|
15,182
|
Loans
granted
|
|
-
|
(1,286)
|
Loans
granted to related parties
|
|
(12,959)
|
(5,960)
|
Loans
payment received from related parties
|
|
335
|
902
|
Proceeds
from sales of investment properties
|
|
15,976
|
24
|
Collection
of financial assets interests and dividends
|
|
542
|
612
|
Dividends
received
|
|
-
|
216
|
Net cash generated from/ (used in) investing
activities
|
|
5,903
|
(6,605)
|
|
|
|
|
Financing activities:
|
|
|
|
Repurchase
of non-convertible notes
|
|
(203)
|
(691)
|
Sales
of non-convertible notes in portfolio
|
|
634
|
-
|
Borrowings
obtained
|
|
2,243
|
13,632
|
Payment
of borrowings
|
|
(2,851)
|
(13,832)
|
Payment
of non-convertible notes
|
|
(12,765)
|
-
|
Payment
of leases liabilities
|
|
(28)
|
(45)
|
Payment
of derivative financial instruments
|
|
(476)
|
(609)
|
Proceeds
from derivative financial instruments
|
|
57
|
609
|
Payment
of interest
|
|
(3,818)
|
(3,872)
|
Dividends
paid
|
|
(2,332)
|
(990)
|
Dividends
paid to non-controlling shareholders
|
|
-
|
(124)
|
Short-term
loans, net
|
|
4,814
|
967
|
Net cash used in by financing activities
|
|
(14,725)
|
(4,955)
|
Net decrease in cash and cash equivalents
|
|
(5,715)
|
(4,702)
|
Cash
and cash equivalents at beginning of the period
|
13
|
6,263
|
8,124
|
Foreign
exchange gain on cash and fair value result for cash
equivalents
|
|
44
|
383
|
Inflation
adjustment
|
|
(34)
|
(50)
|
Cash and cash equivalents at end of the period
|
13
|
558
|
3,755
|
Price variation:
|
03.31.21 (nine months)
|
|
35%
|
|
03.31.21
|
|||||||
|
Shopping Malls
|
Offices
|
Sales and developments
|
Others
|
Total segment reporting
|
Adjustment for expenses and collective promotion funds
|
Adjustment for share in (profit) / loss of joint ventures
|
Total as per Statement of Comprehensive Income/Statement of
Financial Position
|
Revenues
|
3,748
|
1,865
|
68
|
20
|
5,701
|
2,008
|
(33)
|
7,676
|
Operating
costs
|
(498)
|
(147)
|
(41)
|
(146)
|
(832)
|
(2,169)
|
45
|
(2,956)
|
Gross profit / (loss)
|
3,250
|
1,718
|
27
|
(126)
|
4,869
|
(161)
|
12
|
4,720
|
Net
(loss) / gain from fair value adjustments in investment
properties
|
(9,697)
|
(148)
|
(769)
|
34
|
(10,580)
|
-
|
(99)
|
(10,679)
|
General
and administrative expenses
|
(1,077)
|
(274)
|
(106)
|
(38)
|
(1,495)
|
-
|
5
|
(1,490)
|
Selling
expenses
|
(188)
|
(110)
|
(554)
|
(4)
|
(856)
|
-
|
12
|
(844)
|
Other
operating results, net
|
(92)
|
(1)
|
(7)
|
-
|
(100)
|
79
|
(2)
|
(23)
|
(Loss)/ profit from operations
|
(7,804)
|
1,185
|
(1,409)
|
(134)
|
(8,162)
|
(82)
|
(72)
|
(8,316)
|
Share
of (loss)/ profit of associates and joint ventures
|
-
|
-
|
-
|
(974)
|
(974)
|
-
|
38
|
(936)
|
(Loss)/ profit before financing and taxation
|
(7,804)
|
1,185
|
(1,409)
|
(1,108)
|
(9,136)
|
(82)
|
(34)
|
(9,252)
|
Investment
properties
|
57,235
|
67,434
|
14,581
|
136
|
139,386
|
-
|
(4,222)
|
135,164
|
Property,
plant and equipment
|
282
|
1,008
|
-
|
-
|
1,290
|
-
|
(3)
|
1,287
|
Trading
properties
|
-
|
-
|
251
|
-
|
251
|
-
|
-
|
251
|
Goodwill
|
14
|
42
|
-
|
122
|
178
|
-
|
(56)
|
122
|
Right
to receive units (barters)
|
-
|
-
|
1,046
|
-
|
1,046
|
-
|
-
|
1,046
|
Inventories
|
43
|
-
|
-
|
-
|
43
|
-
|
(1)
|
42
|
Investments
in associates and joint ventures
|
-
|
-
|
-
|
2,069
|
2,069
|
-
|
3,264
|
5,333
|
Operating assets
|
57,574
|
68,484
|
15,878
|
2,327
|
144,263
|
-
|
(1,018)
|
143,245
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% of ownership interest held by non-controlling
interests
|
Value of Group’s interest in equity
|
Group’s interest in comprehensive income
|
|||
Name of the entity
|
03.31.21
|
06.30.20
|
03.31.21
|
06.30.20
|
03.31.21
|
03.31.20
|
Joint Ventures
|
|
|
|
|
|
|
Quality
Invest S.A.
|
50.00%
|
50.00%
|
2,954
|
2,844
|
83
|
261
|
Nuevo
Puerto Santa Fe S.A.
|
50.00%
|
50.00%
|
310
|
356
|
(45)
|
(20)
|
La
Rural S.A.(2)
|
50.00%
|
50.00%
|
234
|
275
|
(40)
|
118
|
Associates
|
|
|
|
|
|
|
TGLT
S.A.(4)(6)(7)
|
27.82%
|
30.20%
|
1,835
|
2,788
|
(953)
|
(25)
|
Others
associates (3)
|
-
|
-
|
-
|
13
|
-
|
(14)
|
Total interests in associates and joint ventures
|
|
|
5,333
|
6,276
|
(955)
|
320
|
|
03.31.21
|
06.30.20
|
Beginning of the period/ year
|
6,276
|
3,107
|
(Loss)/
profit sharing, net
|
(936)
|
241
|
Dividends
|
-
|
(52)
|
Other
comprehensive loss
|
(19)
|
(29)
|
Reclassification
to financial instruments (ii)
|
(14)
|
-
|
Acquisition
of interest in associates (i)
|
-
|
2,945
|
Irrevocable
contributions (Note 24)
|
26
|
64
|
End of the period/ year
|
5,333
|
6,276
|
|
Shopping Malls
|
Office and Other rental properties
|
Undeveloped parcels of land
|
Properties under development
|
Others
|
03.31.21
|
06.30.20
|
Fair value at beginning of the period / year
|
63,585
|
78,872
|
13,901
|
2,592
|
102
|
159,052
|
116,719
|
Additions
(iv)
|
248
|
2,798
|
60
|
203
|
-
|
3,309
|
12,175
|
Capitalized
lease costs
|
5
|
10
|
-
|
-
|
-
|
15
|
27
|
Depreciation
of capitalized lease costs (i)
|
(5)
|
(3)
|
-
|
-
|
-
|
(8)
|
(20)
|
Transfers
(vi)
|
-
|
(549)
|
-
|
-
|
-
|
(549)
|
781
|
Disposals
(iii)
|
-
|
(15,976)
|
-
|
-
|
-
|
(15,976)
|
(2,351)
|
Net
(loss) / gain from fair value adjustment on investment properties
(ii)
|
(9,688)
|
(1,688)
|
620
|
43
|
34
|
(10,679)
|
34,014
|
Decrease
due to loss of control (v)
|
-
|
-
|
-
|
-
|
-
|
-
|
(2,293)
|
Fair value at end of the period / year
|
54,145
|
63,464
|
14,581
|
2,838
|
136
|
135,164
|
159,052
|
|
03.31.21
|
03.31.20
|
Revenues
from rental and services (Note 20)
|
5,601
|
10,054
|
Expenses
and collective promotion fund (Note 20)
|
2,008
|
3,552
|
Rental
and services costs (Note 21)
|
(2,900)
|
(4,487)
|
Net
unrealized gain from fair value adjustment on investment
properties
|
(9,290)
|
465
|
Net
realized gain from fair value adjustment on investment properties
(i)(ii)
|
9,737
|
759
|
|
Other buildings and facilities
|
Furniture and fixtures
|
Machinery and equipment
|
Vehicles
|
Others
|
03.31.21
|
06.30.20
|
Costs
|
529
|
392
|
2,008
|
26
|
1
|
2,956
|
2,998
|
Accumulated
depreciation
|
(355)
|
(266)
|
(1,832)
|
(26)
|
-
|
(2,479)
|
(2,356)
|
Net book amount at beginning of the period / year
|
174
|
126
|
176
|
-
|
1
|
477
|
642
|
Additions
|
66
|
28
|
40
|
-
|
-
|
134
|
216
|
Disposals
|
-
|
-
|
(2)
|
-
|
-
|
(2)
|
(10)
|
Transfers
|
766
|
-
|
-
|
-
|
-
|
766
|
(247)
|
Depreciation
charges (i)
|
(21)
|
(16)
|
(51)
|
-
|
-
|
(88)
|
(123)
|
Net
loss from fair value adjustment
|
-
|
-
|
-
|
-
|
-
|
-
|
(1)
|
Net book amount at end of the period / year
|
985
|
138
|
163
|
-
|
1
|
1,287
|
477
|
Costs
|
1,361
|
420
|
2,046
|
26
|
1
|
3,854
|
2,956
|
Accumulated
depreciation
|
(376)
|
(282)
|
(1,883)
|
(26)
|
-
|
(2,567)
|
(2,479)
|
Net book amount at end of the period / year
|
985
|
138
|
163
|
-
|
1
|
1,287
|
477
|
|
Completed properties
|
Undeveloped sites
|
03.31.21
|
06.30.20
|
Net book amount at beginning of the period / year
|
21
|
234
|
255
|
242
|
Additions
(ii)
|
-
|
7
|
7
|
21
|
Disposals
(i)
|
(11)
|
-
|
(11)
|
(26)
|
Transfers
|
-
|
-
|
-
|
18
|
Net book amount at end of the period / year
|
10
|
241
|
251
|
255
|
Non
- current
|
|
|
247
|
246
|
Current
|
|
|
4
|
9
|
Total
|
|
|
251
|
255
|
|
Goodwill
|
Software
|
Right to receive units (Barters) (ii)
|
Others
|
03.31.21
|
06.30.20
|
Costs
|
-
|
767
|
1,258
|
85
|
2,110
|
1,320
|
Accumulated
amortization
|
122
|
(562)
|
(207)
|
(85)
|
(732)
|
(534)
|
Net book amount at beginning of the period / year
|
122
|
205
|
1,051
|
-
|
1,378
|
786
|
Additions
|
-
|
9
|
-
|
-
|
9
|
883
|
Disposals
|
-
|
-
|
-
|
-
|
-
|
(6)
|
Transfers
|
-
|
-
|
-
|
-
|
-
|
(87)
|
Amortization
charge (i)
|
-
|
(57)
|
(5)
|
-
|
(62)
|
(198)
|
Net book amount at end of the period / year
|
122
|
157
|
1,046
|
-
|
1,325
|
1,378
|
Costs
|
-
|
776
|
1,258
|
85
|
2,119
|
2,110
|
Accumulated
amortization
|
122
|
(619)
|
(212)
|
(85)
|
(794)
|
(732)
|
Net book amount at end of the period / year
|
122
|
157
|
1,046
|
-
|
1,325
|
1,378
|
|
03.31.21
|
06.30.20
|
Convention
center
|
187
|
198
|
Stadium
DirecTV Arena
|
535
|
555
|
Machinery
and equipment
|
13
|
17
|
Shopping
malls
|
10
|
10
|
Total rights of use assets
|
745
|
780
|
Non-current
|
745
|
780
|
Total
|
745
|
780
|
Results
|
|
|
|
03.31.21
|
03.31.20
|
Convention
center
|
(12)
|
(10)
|
Stadium
DirecTV Arena
|
(19)
|
(16)
|
Machinery
and equipment
|
(32)
|
(8)
|
Total amortizations and depreciation (i)
|
(63)
|
(34)
|
|
Financial assets at amortized cost (i)
|
Financial assets at fair value through profit or loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
|
March 31, 2020
|
|
Level 1
|
Level 2
|
|
|
|
Assets as per Statement of Financial Position
|
|
|
|
|
|
|
Trade
and other receivables (excluding allowance for doubtful accounts)
(Note 14)
|
12,086
|
-
|
-
|
12,086
|
2,538
|
14,624
|
Investments
in financial assets:
|
|
|
|
|
|
|
-
Public companies’ securities
|
-
|
286
|
-
|
286
|
-
|
286
|
-
Mutual funds
|
10
|
-
|
-
|
10
|
-
|
10
|
-
Bonds
|
-
|
7,931
|
-
|
7,931
|
-
|
7,931
|
Derivative
financial instruments
|
|
|
|
|
|
|
-
Foreign-currency future contracts
|
-
|
3
|
6
|
9
|
-
|
9
|
Cash
and cash equivalents:
|
|
|
|
|
|
|
-
Cash at banks and on hand
|
500
|
-
|
-
|
500
|
-
|
500
|
-
Short- term investments
|
-
|
58
|
-
|
58
|
-
|
58
|
Total
|
12,596
|
8,278
|
6
|
20,880
|
2,538
|
23,418
|
|
Financial liabilities at amortized cost (i)
|
Financial liabilities at fair value through profit or
loss
|
Subtotal financial liabilities
|
Non-financial liabilities
|
Total
|
|
|
|
Level 1
|
Level 2
|
|
|
|
Liabilities as per Statement of Financial Position
|
|
|
|
|
|
|
Trade
and other payables (Note 16)
|
1,539
|
-
|
-
|
1,539
|
5,983
|
7,522
|
Derivative
financial instruments
|
|
|
|
|
|
|
-
Foreign-currency future contracts
|
-
|
4
|
-
|
4
|
-
|
4
|
-
Swaps of interest rate (ii)
|
-
|
-
|
71
|
71
|
-
|
71
|
Borrowings
(Note 17)
|
41,219
|
-
|
-
|
41,219
|
-
|
41,219
|
Total
|
42,758
|
4
|
71
|
42,833
|
5,983
|
48,816
|
|
Financial assets at amortized cost (i)
|
Financial assets at fair value through profit or loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
|
June 30, 2020
|
|
Level 1
|
Level 2
|
|
|
|
Assets as per Statement of Financial Position
|
|
|
|
|
|
|
Trade
and other receivables (excluding allowance for doubtful accounts)
(Note 14)
|
10,896
|
-
|
-
|
10,896
|
2,088
|
12,984
|
Investments
in financial assets:
|
|
|
|
|
|
|
-
Public companies’ securities
|
-
|
285
|
-
|
285
|
-
|
285
|
-
Mutual funds
|
-
|
84
|
1,096
|
1,180
|
-
|
1,180
|
-
Bonds
|
-
|
7,021
|
-
|
7,021
|
-
|
7,021
|
Derivative
financial instruments
|
|
|
|
|
|
|
-
Foreign-currency future contracts
|
-
|
-
|
9
|
9
|
-
|
9
|
Cash
and cash equivalents:
|
|
|
|
|
|
|
-
Cash at banks and on hand
|
3,767
|
-
|
-
|
3,767
|
-
|
3,767
|
-
Short- term investments
|
87
|
2,409
|
-
|
2,496
|
-
|
2,496
|
Total
|
14,750
|
9,799
|
1,105
|
25,654
|
2,088
|
27,742
|
|
Financial liabilities at amortized cost (i)
|
Financial liabilities at fair value through profit or
loss
|
Subtotal financial liabilities
|
Non-financial liabilities
|
Total
|
|
|
Level 2
|
|
|
|
Liabilities as per Statement of Financial Position
|
|
|
|
|
|
Trade
and other payables (Note 16)
|
1,628
|
-
|
1,628
|
4,870
|
6,498
|
Derivative
financial instruments
|
|
|
|
|
|
-
Foreign-currency future contracts
|
-
|
29
|
29
|
-
|
29
|
-
Swaps of interest rate (ii)
|
-
|
128
|
128
|
-
|
128
|
Borrowings
(excluding finance leases liabilities) (Note 17)
|
52,903
|
-
|
52,903
|
-
|
52,903
|
Total
|
54,531
|
157
|
54,688
|
4,870
|
59,558
|
|
03.31.21
|
06.30.20
|
Lease
and services receivables
|
1,539
|
1,578
|
Post-dated
checks
|
494
|
408
|
Averaging
of scheduled rent escalation
|
1,230
|
890
|
Debtors
under legal proceedings
|
435
|
545
|
Property
sales receivables
|
17
|
22
|
Consumer
financing receivables
|
16
|
22
|
Less:
allowance for doubtful accounts
|
(662)
|
(837)
|
Total trade receivables
|
3,069
|
2,628
|
Loans
|
1,377
|
1,430
|
Advance
payments
|
585
|
690
|
Others
(*)
|
268
|
298
|
Prepayments
|
439
|
298
|
Other
tax receivables
|
284
|
210
|
Expenses
to be recovered
|
32
|
56
|
Guarantee
deposit
|
1
|
3
|
Total other receivables
|
2,986
|
2,985
|
Related
parties (Note 24)
|
7,907
|
6,534
|
Total trade and other receivables
|
13,962
|
12,147
|
Non-current
|
8,243
|
6,895
|
Current
|
5,719
|
5,252
|
Total
|
13,962
|
12,147
|
|
03.31.21
|
06.30.20
|
Beginning of the period/ year
|
837
|
518
|
Additions
(i)
|
216
|
439
|
Unused
amounts reversed (i)
|
(198)
|
(27)
|
Used
during the year
|
-
|
(3)
|
Inflation
adjustment
|
(193)
|
(90)
|
End of the period / year
|
662
|
837
|
|
Note
|
03.31.21
|
03.31.20
|
Net loss for the period
|
|
(4,794)
|
(2,384)
|
Adjustments:
|
|
|
|
Income
tax
|
19
|
(1,120)
|
1,491
|
Amortization
and depreciation
|
21
|
221
|
277
|
Net
loss/ (gain) from fair value adjustment on investment
properties
|
8
|
10,679
|
(533)
|
Gain
from disposal of trading properties
|
|
-
|
(345)
|
Disposals
by concession maturity
|
|
2
|
10
|
Averaging
of schedule rent escalation
|
20
|
(639)
|
(181)
|
Directors’
fees
|
24
|
631
|
104
|
Financial
results, net
|
|
(2,327)
|
8,884
|
Provisions
and allowances
|
|
62
|
218
|
Share
of loss/ (profit) of associates and joint ventures
|
7
|
936
|
(333)
|
Changes in operating assets and liabilities
|
|
|
|
Decrease
in inventories
|
|
11
|
4
|
Decrease/
(increase) in trading properties
|
|
11
|
(21)
|
(Increase)/
decrease in trade and other receivables
|
|
(1,093)
|
1,263
|
Decrease/
(increase) in trade and other payables
|
|
552
|
(1,213)
|
Decrease/
(increase) in payroll and social security liabilities
|
|
56
|
(175)
|
Uses
of provisions
|
18
|
(55)
|
(62)
|
Net cash generated by operating activities before income tax
paid
|
|
3,133
|
7,004
|
|
03.31.21
|
03.31.20
|
Non-cash transactions
|
|
|
Increase
in properties plant and equipment through a decrease in investment
properties
|
-
|
10
|
Increase
in investment properties through an increase in trade and other
payables
|
-
|
62
|
Decrease
in equity through an increase in borrowings
(dividends)
|
-
|
74
|
Increase
in rights of use assets through a decrease in properties plant and
equipment
|
-
|
29
|
Increase
in investment in financial assets through a decrease in investment
in associates and joint ventures (dividends)
|
-
|
39
|
Increase
in investment in associates and joint ventures through a decrease
in investment in financial assets
|
-
|
1,131
|
Decrease
in equity through an increase in trade and other payables
(dividends)
|
-
|
1
|
Decrease
in investment properties through an increase in intangible
assets
|
-
|
503
|
Decrease
in intangible assets through an increase in trade and other
payables
|
-
|
6
|
Currency
translation adjustment in associates
|
19
|
13
|
Decrease
in trading properties through an increase in intangible
assets
|
-
|
334
|
Increase
in investment in financial assets through a decrease in trade and
other receivables
|
933
|
-
|
Decrease
in financial assets through a decrease in trade and other
payables
|
22
|
-
|
Reclassification
to financial instruments
|
14
|
-
|
Decrease
in equity through a decrease trade and other receivables
(Dividends)
|
9,423
|
-
|
Decrease
in financial leases through an decrease in trade and other
receivables
|
9
|
-
|
Decrease
properties plant and equipment through an increase in
equity
|
163
|
-
|
Decrease
in property plant and equipment through an increase in tax
payables
|
54
|
-
|
Decrease
in investment propertyes through an increase in properties plant
and equipment
|
812
|
-
|
Decrease
in properties plant and equipment through an increase in investment
properties
|
263
|
-
|
Increase
in investment properties through a decrease in trade and other
receivables
|
7
|
-
|
Increase
in trading properties through a decrease in trade and other
receivables
|
7
|
-
|
|
03.31.21
|
06.30.20
|
Rent
and service payments received in advance
|
1,262
|
1,688
|
Admission
rights
|
969
|
1,377
|
Accrued
invoices
|
352
|
354
|
Trade
payables
|
468
|
400
|
Tenant
deposits
|
89
|
135
|
Payments
received in advance
|
117
|
42
|
Total trade payables
|
3,257
|
3,996
|
Tax
payable
|
641
|
158
|
Others
|
205
|
213
|
Other
payments received in advance to be accrued
|
73
|
95
|
Tax
payment plans
|
7
|
11
|
Total other payables
|
926
|
477
|
Related
parties (Note 24)
|
3,339
|
2,025
|
Total trade and other payables
|
7,522
|
6,498
|
Non-current
|
1,162
|
1,677
|
Current
|
6,360
|
4,821
|
Total
|
7,522
|
6,498
|
|
Book Value at 03.31.21
|
Book Value at 06.30.20
|
Fair Value at 03.31.21
|
Fair Value at 06.30.20
|
Non-Convertible
notes
|
32,605
|
47,333
|
27,873
|
35,333
|
Bank
loans
|
2,340
|
3,280
|
2,340
|
3,103
|
Bank
overdrafts
|
5,528
|
1,894
|
5,528
|
1,894
|
AABE
Debts
|
231
|
246
|
231
|
246
|
Loans
with non-controlling interests
|
198
|
150
|
149
|
150
|
Related
parties (Note 24)
|
317
|
-
|
327
|
-
|
Total borrowings
|
41,219
|
52,903
|
36,448
|
40,726
|
Non-current
|
33,897
|
35,981
|
|
|
Current
|
7,322
|
16,922
|
|
|
Total
|
41,219
|
52,903
|
|
|
|
Labor, legal and other claims
|
03.31.21
|
06.30.20
|
Balances at the beginning of the period / year
|
156
|
156
|
155
|
Inflation
adjustment
|
(47)
|
(47)
|
(59)
|
Increases
(i)
|
47
|
47
|
121
|
Recovery
(i)
|
(3)
|
(3)
|
(50)
|
Used
during the year
|
(8)
|
(8)
|
(11)
|
Balances at the end of the period /year
|
145
|
145
|
156
|
Non-current
|
|
69
|
98
|
Current
|
|
76
|
58
|
Total
|
|
145
|
156
|
|
03.31.21
|
03.31.20
|
Current
income tax
|
(6)
|
(33)
|
Deferred
income tax
|
1,126
|
(1,458)
|
Income tax - Profit/ (loss)
|
1,120
|
(1,491)
|
|
03.31.21
|
06.30.20
|
Beginning of the period/ year
|
(32,163)
|
(25,286)
|
Income
tax
|
1,126
|
(7,240)
|
Decrease
due to loss of control
|
-
|
486
|
Appraisal
surplus reserve
|
(56)
|
(123)
|
Period / year end
|
(31,093)
|
(32,163)
|
|
03.31.21
|
03.31.20
|
Loss
for the period before income tax at the prevailing tax
rate
|
1,774
|
268
|
Tax
effects of:
|
|
|
Rate
change
|
1,758
|
1,735
|
Share
of profit of associates and joint ventures
|
(281)
|
100
|
Result
by rate transparency
|
55
|
144
|
Result
from sale of subsidiaries
|
-
|
(550)
|
Expiration
of carry-forwards
|
(5)
|
-
|
Tax
loss carry-forwards
|
(78)
|
(118)
|
Non-taxable,
non-deductible items
|
(19)
|
13
|
Difference
between provisions and affidavits
|
275
|
69
|
Others
|
75
|
(3)
|
Inflation
adjustment
|
125
|
(731)
|
Tax
inflation adjustment
|
(2,559)
|
(2,418)
|
Income tax - Loss
|
1,120
|
(1,491)
|
|
03.31.21
|
03.31.20
|
Base
rent
|
3,058
|
6,113
|
Contingent
rent
|
981
|
1,993
|
Admission
rights
|
529
|
977
|
Averaging
of scheduled rent escalation
|
639
|
181
|
Others
|
168
|
71
|
Commissions
|
107
|
203
|
Property
management fees
|
99
|
118
|
Parking
fees
|
20
|
398
|
Total revenues from rentals and services
|
5,601
|
10,054
|
Sale
of trading properties
|
67
|
416
|
Total revenues from sale of properties
|
67
|
416
|
Total revenues from sales, rentals and services
|
5,668
|
10,470
|
Expenses
and collective promotion fund
|
2,008
|
3,552
|
Total revenues from expenses and collective promotion
funds
|
2,008
|
3,552
|
Total revenues
|
7,676
|
14,022
|
|
Costs (ii)
|
General and administrative expenses
|
Selling expenses
|
03.31.21
|
03.31.20
|
Salaries,
social security costs and other personnel administrative expenses
(i)
|
1,117
|
478
|
62
|
1,657
|
1,974
|
Maintenance,
security, cleaning, repairs and other
|
949
|
94
|
1
|
1,044
|
1,709
|
Taxes,
rates and contributions
|
312
|
26
|
530
|
868
|
891
|
Directors'
fees
|
-
|
630
|
-
|
630
|
397
|
Fees
and payments for services
|
63
|
110
|
218
|
391
|
258
|
Advertising
and other selling expenses
|
268
|
-
|
8
|
276
|
712
|
Amortization
and depreciation (Notes 8, 9, 11 and 12)
|
129
|
90
|
2
|
221
|
277
|
Leases
and expenses
|
89
|
32
|
2
|
123
|
146
|
Traveling,
transportation and stationery
|
12
|
9
|
3
|
24
|
55
|
Bank
expenses
|
-
|
19
|
-
|
19
|
26
|
Allowance
for doubtful accounts (additions and unused amounts reversed) (Note
14)
|
-
|
-
|
18
|
18
|
160
|
Cost
of sale of properties
|
11
|
-
|
-
|
11
|
28
|
Other
expenses
|
6
|
2
|
-
|
8
|
4
|
Total expenses by nature 03.31.21
|
2,956
|
1,490
|
844
|
5,290
|
-
|
Total expenses by nature 03.31.20
|
4,597
|
1,327
|
713
|
-
|
6,637
|
|
03.31.21
|
03.31.20
|
Canon
|
-
|
104
|
Interest
generated by operating credits
|
69
|
78
|
Management
fees
|
6
|
11
|
Loss
from disposals of property plant and equipment
|
-
|
(4)
|
Loss
from sale of subsidiaries, associates and joint
ventures
|
-
|
(8)
|
Others
|
6
|
105
|
Donations
|
(60)
|
(63)
|
Lawsuits
(Note 18)
|
(44)
|
(59)
|
Total other operating results, net
|
(23)
|
164
|
|
03.31.21
|
03.31.20
|
-
Interest income
|
713
|
539
|
Finance income
|
713
|
539
|
-
Interest expense
|
(3,231)
|
(3,238)
|
-
Others financial costs
|
(384)
|
(234)
|
Finance costs
|
(3,615)
|
(3,472)
|
Foreign
exchange, net
|
981
|
(4,998)
|
-
Fair value gain/ (loss) of financial assets at fair value through
profit or loss
|
3,875
|
(1,470)
|
-
Loss from derivative financial instruments
|
(368)
|
(52)
|
-
(Loss)/ Gain from repurchase of non-convertible notes
|
(17)
|
125
|
Other financial results
|
4,471
|
(6,395)
|
-
Inflation adjustment
|
1,769
|
20
|
Total financial results, net
|
3,338
|
(9,308)
|
Item
|
03.31.21
|
06.30.20
|
Trade
and other receivables
|
7,907
|
6,534
|
Investments
in financial assets
|
7,168
|
7,541
|
Trade
and other payables
|
(3,339)
|
(2,025)
|
Borrowings
|
(317)
|
-
|
Leases
liabilities
|
(8)
|
-
|
Total
|
11,411
|
12,050
|
Related parties
|
03.31.21
|
06.30.20
|
Description of transaction
|
IRSA
Inversiones y Representaciones Sociedad Anónima
(IRSA)
|
(2,914)
|
(1,499)
|
Received
advances
|
|
133
|
-
|
Advances
|
|
5,068
|
4,305
|
Non-convertible
notes
|
|
7,175
|
3,537
|
Loans
granted
|
|
184
|
192
|
Other
receivables
|
|
38
|
77
|
Corporate
services
|
|
-
|
17
|
Equity
incentive plan
|
|
5
|
13
|
Reimbursement
of expenses
|
|
1
|
-
|
Averaging
|
|
6
|
14
|
Leases
and/or rights to use space
|
|
-
|
(1)
|
Reimbursement
of expenses to pay
|
|
(2)
|
(20)
|
Equity
incentive plan to pay
|
|
14
|
-
|
Lease
collections
|
Total direct parent company
|
9,708
|
6,635
|
|
Cresud
S.A.CI.F. y A.
|
2,090
|
2,141
|
Non-convertible
notes
|
|
(3)
|
(3)
|
Equity
incentive plan to pay
|
|
7
|
2
|
Leases
and/or rights to use space
|
|
(11)
|
(1)
|
Reimbursement
of expenses to pay
|
|
(172)
|
(246)
|
Corporate
services to pay
|
Total direct parent company of IRSA
|
1,911
|
1,893
|
|
La
Rural S.A.
|
204
|
276
|
Dividends
|
|
-
|
7
|
Leases
and/or rights to use space
|
|
(3)
|
-
|
Leases
and/or rights to use space to pay
|
|
73
|
99
|
Loans
granted
|
TGLT
S.A.
|
-
|
12
|
Other
receivables
|
Other
associates and joint ventures
|
(8)
|
-
|
Leases
liabilities
|
|
4
|
2
|
Reimbursement
of expenses
|
|
5
|
-
|
Borrowings
|
|
7
|
12
|
Management
fee
|
|
1
|
-
|
Lease
collections
|
|
3
|
-
|
Leases
and/or rights to use space
|
|
-
|
(1)
|
Leases
and/or rights to use space to pay
|
Total associates and joint ventures
|
286
|
407
|
|
Directors
|
(170)
|
(171)
|
Fees
|
Total Directors
|
(170)
|
(171)
|
|
IRSA
International LLC
|
-
|
365
|
Loans
granted
|
|
(28)
|
-
|
Other
payables
|
Epsilon
Opportunities LP
|
-
|
1,095
|
Mutual
funds
|
Tyrus
S.A.
|
-
|
1,885
|
Loans
granted
|
Centro
Comercial Panamericano S.A.
|
-
|
(50)
|
Other
payables
|
Helmir
S.A.
|
(268)
|
-
|
Borrowings
|
OFC
S.R.L.
|
1
|
1
|
Other
receivables
|
|
(20)
|
(28)
|
Other
payables
|
Others
|
10
|
9
|
Reimbursement
of expenses
|
|
7
|
9
|
Leases
and/or rights to use space
|
|
10
|
-
|
Non-convertible
notes
|
|
(16)
|
(2)
|
Other
payables
|
|
29
|
5
|
Other
receivables
|
|
(49)
|
-
|
Borrowings
|
|
-
|
(2)
|
Reimbursement
of expenses to pay
|
|
-
|
(1)
|
Legal
services
|
Total others
|
(324)
|
3,286
|
|
Total at the end of the period/ year
|
11,411
|
12,050
|
|
Related parties
|
03.31.21
|
03.31.20
|
Description of transaction
|
IRSA
Inversiones y Representaciones Sociedad Anónima
(IRSA)
|
46
|
77
|
Corporate
services
|
|
715
|
(98)
|
Financial
operations
|
|
4
|
-
|
Leases
and/or rights to use space
|
Total direct parent company
|
765
|
(21)
|
|
Cresud
S.A.CI.F. y A.
|
251
|
(63)
|
Financial
operations
|
|
20
|
11
|
Leases
and/or rights to use space
|
|
(381)
|
(411)
|
Corporate
services
|
Total direct parent company of IRSA
|
(110)
|
(463)
|
|
TGLT
S.A.
|
-
|
48
|
Financial
operations
|
Other
associates and joint ventures
|
4
|
2
|
Fees
|
|
1
|
-
|
Leases
and/or rights to use space
|
Total associates and joint ventures
|
5
|
50
|
|
Directors
|
(631)
|
(397)
|
Fees
|
Senior
Management
|
(26)
|
(29)
|
Fees
|
Total Directors
|
(657)
|
(426)
|
|
Banco
de Crédito y Securitización
|
54
|
59
|
Leases
and/or rights to use space
|
BHN
Vida S.A
|
10
|
12
|
Leases
and/or rights to use space
|
BHN
Seguros Generales S.A.
|
10
|
12
|
Leases
and/or rights to use space
|
IRSA
Internacional LLC
|
40
|
88
|
Financial
operations
|
Tyrus
S.A
|
168
|
-
|
Financial
operations
|
Estudio
Zang, Bergel & Viñes
|
(12)
|
(25)
|
Fees
|
Others
|
(20)
|
17
|
Leases
and/or rights to use space
|
|
-
|
12
|
Fees
|
|
1
|
5
|
Financial
operations
|
Total others
|
251
|
180
|
|
Total at the end of the period
|
254
|
(680)
|
|
Related parties
|
03.31.21
|
03.31.20
|
Description of transaction
|
Quality
Invest S.A.
|
26
|
55
|
Irrevocable
contributions granted
|
Total irrevocable contributions
|
26
|
55
|
|
Nuevo
Puerto Santa Fe
|
-
|
52
|
Dividends
received
|
Total dividends received
|
-
|
52
|
|
IRSA
Inversiones y Representaciones S.A.
|
9,126
|
868
|
Dividends
granted
|
Cresud
S.A.
|
395
|
16
|
Dividends
granted
|
E-commerce
Latina S.A.
|
159
|
13
|
Dividends
granted
|
Tyrus
S.A.
|
57
|
-
|
Dividends
granted
|
Total dividends granted
|
9,737
|
897
|
|
TGLT
S.A.
|
-
|
(1,814)
|
Sale
of shares
|
Total sale of shares
|
-
|
(1,814)
|
|
TGLT
S.A.
|
-
|
2,944
|
Shares
purchase
|
Total shares purchase
|
-
|
2,944
|
|
Exhibit A - Property, plant and equipment
|
Note 8 - Investment properties
|
|
Note 9 - Property, plant and equipment
|
Exhibit C - Equity investments
|
Note 7 - Investments in associates and joint ventures
|
Exhibit B - Intangible assets
|
Note 11 - Intangible assets
|
Exhibit D - Other investments
|
Note 13 - Financial instruments by category
|
Exhibit E - Provisions
|
Note 14 - Trade and other receivables
|
|
Note 18 - Provisions
|
Exhibit F - Cost of sales and services provided
|
Note 21 - Expenses by nature
|
|
Note 10 - Trading properties
|
Exhibit G - Foreign currency assets and liabilities
|
Note 26 - Foreign currency assets and liabilities
|
Items (1)
|
Amount (2)
|
Exchange rate (3)
|
03.31.21
|
06.30.20
|
Assets
|
|
|
|
|
Trade and other receivables
|
|
|
|
|
US
Dollar
|
19.90
|
91.80
|
1,827
|
2,098
|
Euros
|
0.17
|
103.07
|
18
|
23
|
Trade and other receivables with related parties
|
|
|
|
|
US
Dollar
|
2.38
|
92.00
|
219
|
6,015
|
Total trade and other receivables
|
|
|
2,064
|
8,136
|
Investments in financial assets
|
|
|
|
|
US
Dollar
|
7.59
|
91.80
|
697
|
764
|
Investment in financial assets with related parties
|
|
|
|
|
US
Dollar
|
69.07
|
92.00
|
6,354
|
7,399
|
Total investments in financial assets
|
|
|
7,051
|
8,163
|
Cash and cash equivalents
|
|
|
|
|
US
Dollar
|
5.10
|
91.80
|
468
|
3,728
|
Total cash and cash equivalents
|
|
|
468
|
3,728
|
Total Assets
|
|
|
9,583
|
20,027
|
Liabilities
|
|
|
|
|
Trade and other payables
|
|
|
|
|
US
Dollar
|
6.61
|
92.00
|
608
|
568
|
Euros
|
0.05
|
103.53
|
5
|
-
|
Trade and other payables with related parties
|
|
|
|
|
US
Dollar
|
0.35
|
92.00
|
32
|
1
|
Total trade and other payables
|
|
|
645
|
569
|
Borrowings
|
|
|
|
|
US
Dollar
|
378.83
|
92.00
|
34,852
|
50,366
|
Borrowings with related parties
|
|
|
|
|
US
Dollar
|
3.43
|
92.00
|
316
|
-
|
Total borrowings
|
|
|
35,168
|
50,366
|
Derivative financial instruments
|
|
|
|
|
US
Dollar
|
0.77
|
92.00
|
71
|
128
|
Total derivative financial instruments
|
|
|
71
|
128
|
Leases liabilities
|
|
|
|
|
US
Dollar
|
7.95
|
92.00
|
731
|
718
|
Leases liabilities with related parties
|
|
|
|
|
US
Dollar
|
0.09
|
92.00
|
8
|
-
|
Total leases liabilities
|
|
|
739
|
718
|
Total Liabilities
|
|
|
36,623
|
51,781
|
/s/ PRICE
WATERHOUSE & CO. S.R.L. C.P.C.E.C.A.B.A. Tº 1
Fº 17
|
|
|
/s/
ABELOVICH, POLANO & ASOCIADOS S.R.L. C.P.C.E.
C.A.B.A. T° 1 F° 30
|
|
Dr. Walter Zablocky
(Partner)
|
|
|
José
Daniel Abelovich (Partner)
|
|
Public Accountant
(UNLP) C.P.C.E.C.A.B.A. Tº 340 Fº
156
|
|
|
Contador
Público (UBA)C.P.C.E. C.A.B.A. T° 102 F°
191
|
|
|
Note
|
03.31.21
|
06.30.20
|
ASSETS
|
|
|
|
Non-current assets
|
|
|
|
Investment
properties
|
7
|
95,743
|
118,959
|
Property,
plant and equipment
|
8
|
1,100
|
378
|
Trading
properties
|
9
|
140
|
138
|
Intangible
assets
|
10
|
1,073
|
1,113
|
Rights
of use assets
|
11
|
748
|
996
|
Investments
in subsidiaries, associates and joint ventures
|
6
|
37,341
|
38,158
|
Trade
and other receivables
|
13
|
7,602
|
6,330
|
Total non-current assets
|
|
143,747
|
166,072
|
Current Assets
|
|
|
|
Trading
properties
|
9
|
4
|
9
|
Inventories
|
|
33
|
44
|
Income
tax credits
|
|
30
|
15
|
Trade
and other receivables
|
13
|
4,374
|
4,148
|
Investments
in financial assets
|
12
|
7,326
|
6,206
|
Derivative
financial instruments
|
12
|
9
|
9
|
Cash
and cash equivalents
|
12
|
92
|
2,567
|
Total current assets
|
|
11,868
|
12,998
|
TOTAL ASSETS
|
|
155,615
|
179,070
|
SHAREHOLDERS’ EQUITY
|
|
|
|
Capital
and reserves attributable to equity holders of the parent
(according to corresponding statement)
|
|
80,422
|
96,813
|
TOTAL SHAREHOLDERS’ EQUITY
|
|
80,422
|
96,813
|
LIABILITIES
|
|
|
|
Non-current liabilities
|
|
|
|
Trade
and other payables
|
15
|
886
|
1,313
|
Borrowings
|
16
|
32,943
|
34,119
|
Deferred
income tax liabilities
|
18
|
24,684
|
26,097
|
Other
liabilities
|
6
|
46
|
108
|
Provisions
|
17
|
59
|
79
|
Total non-current liabilities
|
|
58,618
|
61,716
|
Current liabilities
|
|
|
|
Trade
and other payables
|
15
|
5,709
|
4,037
|
Payroll
and social security liabilities
|
|
262
|
209
|
Borrowings
|
16
|
10,529
|
16,212
|
Leases
liabilities
|
|
8
|
9
|
Derivative
financial instruments
|
12
|
4
|
29
|
Provisions
|
17
|
63
|
45
|
Total current liabilities
|
|
16,575
|
20,541
|
TOTAL LIABILITIES
|
|
75,193
|
82,257
|
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES
|
|
155,615
|
179,070
|
|
|
Nine months
|
Three months
|
||
|
Note
|
03.31.21
|
03.31.20
|
03.31.21
|
03.31.20
|
Income
from sales, rentals and services
|
19
|
4,200
|
8,215
|
1,674
|
2,108
|
Income
from expenses and collective promotion fund
|
19
|
1,663
|
3,082
|
613
|
1,000
|
Operating
costs
|
20
|
(2,503)
|
(4,208)
|
(881)
|
(1,294)
|
Gross profit
|
|
3,360
|
7,089
|
1,406
|
1,814
|
Net
loss from fair value adjustments of investment
properties
|
7
|
(10,014)
|
(533)
|
(10,126)
|
(2,066)
|
General
and administrative expenses
|
20
|
(1,404)
|
(1,159)
|
(410)
|
(281)
|
Selling
expenses
|
20
|
(796)
|
(635)
|
(97)
|
(141)
|
Other
operating results, net
|
21
|
47
|
106
|
13
|
97
|
(Loss)/ profit from operations
|
|
(8,807)
|
4,868
|
(9,214)
|
(577)
|
Share
of (loss)/ profit of associates and joint ventures
|
6
|
(817)
|
1,446
|
(3,471)
|
(617)
|
(Loss)/ profit from operations before financing and
taxation
|
|
(9,624)
|
6,314
|
(12,685)
|
(1,194)
|
Finance
income
|
22
|
677
|
510
|
(67)
|
252
|
Finance
cost
|
22
|
(3,495)
|
(3,184)
|
(1,138)
|
(922)
|
Other
financial results
|
22
|
4,236
|
(5,874)
|
943
|
(789)
|
Inflation
adjustment
|
22
|
1,959
|
(209)
|
535
|
199
|
Financial
results, net
|
|
3,377
|
(8,757)
|
273
|
(1,260)
|
Loss before income tax
|
|
(6,247)
|
(2,443)
|
(12,412)
|
(2,454)
|
Income
tax expense
|
18
|
1,467
|
(72)
|
2,254
|
524
|
Loss for the period
|
|
(4,780)
|
(2,515)
|
(10,158)
|
(1,930)
|
|
|
|
|
|
|
Other comprehensive income/ (loss) for the period: (i)
|
|
|
|
|
|
Items that may be reclassified subsequently to profit or
loss:
|
|
|
|
|
|
Currency
translation adjustment of associates
|
6
|
(19)
|
(13)
|
(48)
|
(13)
|
Revaluation
surplus
|
|
163
|
-
|
46
|
-
|
Other comprehensive income/ (loss) for the period
|
|
144
|
(13)
|
(2)
|
(13)
|
Total comprehensive loss for the period
|
|
(4,636)
|
(2,528)
|
(10,160)
|
(1,943)
|
Loss per share for the period: (ii)
|
|
|
|
|
|
Basic
|
|
(8.83)
|
(19.96)
|
(18.77)
|
(15.32)
|
Diluted
|
|
(8.83)
|
(19.96)
|
(18.77)
|
(15.32)
|
|
Share capital
|
Inflation adjustment of share capital
|
Share premium
|
Legal Reserve
|
Special reserve CNV 609/12 (1)
|
Other reserves
|
Retained earnings (2)
|
Total shareholder’s equity
|
Balance as of June 30, 2020
|
126
|
4,634
|
13,077
|
181
|
12,406
|
43,254
|
23,135
|
96,813
|
Loss
for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
(4,780)
|
(4,780)
|
Other
comprehensive income for the period
|
-
|
-
|
-
|
-
|
-
|
144
|
-
|
144
|
Capitalization
of reserves - Shareholders’ meeting as of October 26, 2020
(3)
|
53,997
|
14,510
|
(13,077)
|
-
|
(12,406)
|
(43,024)
|
-
|
-
|
Dividend
distribution - Shareholders’ meeting as of October 26, 2020
(3)
|
-
|
-
|
-
|
-
|
-
|
-
|
(11,755)
|
(11,755)
|
Assignment
of results - Shareholders’ meeting as of October 26, 2020
(3)
|
-
|
-
|
-
|
1,157
|
-
|
8,847
|
(10,004)
|
-
|
Balance as of March 31, 2021
|
54,123
|
19,144
|
-
|
1,338
|
-
|
9,221
|
(3,404)
|
80,422
|
|
Reserve for future dividends
|
Revaluation surplus (2)
|
Special reserve
|
Changes in non-controlling interest
|
Currency translation adjustment
|
Total shareholder’s equity
|
Balance as of June 30, 2020
|
42,821
|
370
|
204
|
(112)
|
(29)
|
43,254
|
Other
comprehensive income for the period
|
-
|
163
|
-
|
-
|
(19)
|
144
|
Capitalization
of reserves - Shareholders’ meeting as of October 26, 2020
(3)
|
(42,821)
|
-
|
(203)
|
-
|
-
|
(43,024)
|
Assignment
of results - Shareholders’ meeting as of October 26, 2020
(3)
|
-
|
-
|
8,847
|
-
|
-
|
8,847
|
Balance as of March 31, 2021
|
-
|
533
|
8,848
|
(112)
|
(48)
|
9,221
|
|
Share capital
|
Inflation adjustment of share capital
|
Share premium
|
Legal Reserve
|
Special reserve CNV 609/12 (1)
|
Other reserves
|
Retained earnings (2)
|
Total shareholder’s equity
|
Balance as of June 30, 2019
|
126
|
4,634
|
13,077
|
181
|
12,406
|
100,795
|
(56,814)
|
74,405
|
Loss
for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
(2,515)
|
(2,515)
|
Other
comprehensive loss for the period
|
-
|
-
|
-
|
-
|
-
|
(13)
|
-
|
(13)
|
Dividend
distribution - Shareholders’ meeting as of October 30,
2019
|
-
|
-
|
-
|
-
|
-
|
-
|
(990)
|
(990)
|
Assignment
of results - Shareholders’ meeting as of October 30,
2019
|
-
|
-
|
-
|
-
|
-
|
(57,804)
|
57,804
|
-
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
-
|
(80)
|
-
|
(80)
|
Balance as of March 31, 2020
|
126
|
4,634
|
13,077
|
181
|
12,406
|
42,898
|
(2,515)
|
70,807
|
|
Reserve for future dividends
|
Special reserve
|
Changes in non-controlling interest
|
Currency translation adjustment
|
Total shareholder’s equity
|
Balance as of June 30, 2019
|
43,810
|
57,018
|
(33)
|
-
|
100,795
|
Other
comprehensive loss for the period
|
-
|
-
|
-
|
(13)
|
(13)
|
Assignment
of results - Shareholders’ meeting as of October 30,
2019
|
(990)
|
(56,814)
|
-
|
-
|
(57,804)
|
Changes
in non-controlling interest
|
-
|
-
|
(80)
|
-
|
(80)
|
Balance as of March 31, 2020
|
42,820
|
204
|
(113)
|
(13)
|
42,898
|
|
Note
|
03.31.21
|
03.31.20
|
Operating activities:
|
|
|
|
Cash
generated from operations
|
14
|
2,550
|
6,179
|
Income
tax paid
|
|
-
|
(12)
|
Net cash generated from operating activities
|
|
2,550
|
6,167
|
|
|
|
|
Investing activities:
|
|
|
|
Acquisition
of investment properties
|
|
(3,237)
|
(1,166)
|
Acquisition
of property, plant and equipment
|
|
(110)
|
(115)
|
Acquisition
of intangible assets
|
|
(9)
|
(32)
|
Loans
granted, net
|
|
-
|
(20)
|
Acquisitions
of financial assets
|
|
(4,169)
|
(11,280)
|
Decrease
of financial assets
|
|
8,830
|
12,663
|
Loans
payment received from related parties
|
|
414
|
4,484
|
Loans
granted to related parties
|
|
(12,870)
|
(11,887)
|
Advance
payments
|
|
(47)
|
(1,325)
|
Proceeds
from sales of investment properties
|
|
15,976
|
24
|
Acquisition
of rights of use assets
|
|
-
|
(25)
|
Proceeds
from sales of property, plant and equipment
|
|
2
|
6
|
Irrevocable
contributions in subsidiaries, associates and joint
ventures
|
|
(28)
|
(55)
|
Collection
of financial assets interests
|
|
504
|
532
|
Acquisition
of interest in subsidiaries, associates and joint
ventures
|
|
(53)
|
-
|
Dividends
received of subsidiaries
|
|
-
|
902
|
Net cash generated from / (used in) investing
activities
|
|
5,203
|
(7,294)
|
Financing activities:
|
|
|
|
Payments
of financial leasing
|
|
(12)
|
(13)
|
Borrowings
obtained
|
|
6,538
|
13,632
|
Payment
of borrowings
|
|
(2,178)
|
(13,559)
|
Payment
of borrowings with related parties
|
|
(3)
|
-
|
Payment
of non-convertible notes
|
|
(13,415)
|
-
|
Sale
of non-convertible notes in portfolio
|
|
634
|
-
|
Repurchase
of non-convertible notes
|
|
(82)
|
(115)
|
Proceeds
from derivative financial instruments
|
|
57
|
609
|
Payment
of derivative financial instruments
|
|
(420)
|
(582)
|
Interests
paid
|
|
(3,774)
|
(3,778)
|
Dividends
paid
|
|
(2,332)
|
(989)
|
Short
term loans, net
|
|
4,752
|
970
|
Net cash used in financing activities
|
|
(10,235)
|
(3,825)
|
Net decrease in cash and cash equivalents
|
|
(2,482)
|
(4,952)
|
Cash and cash equivalents at beginning
of
period
|
12
|
2,567
|
5,095
|
Foreign
exchange gain on cash and fair value result for cash
equivalents
|
|
10
|
43
|
Inflation
adjustment
|
|
(3)
|
(6)
|
Cash and cash equivalents at end of period
|
12
|
92
|
180
|
Price variation:
|
03.31.21 (accumulated of
nine months)
|
|
35%
|
|
% of ownership interest held
|
Value of Company’s interest in equity
|
Company’s interest in comprehensive (loss)/
income
|
|||
Name of the entity
|
03.31.21
|
06.30.20
|
03.31.21
|
06.30.20
|
03.31.21
|
03.31.20
|
Subsidiaries
|
|
|
|
|
|
|
Panamerican
Mall S.A.
|
80.00%
|
80.00%
|
21,305
|
21,037
|
267
|
907
|
Torodur
S.A.
|
100.00%
|
100.00%
|
7,132
|
7,135
|
(4)
|
136
|
Arcos
del Gourmet S.A.
|
90.00%
|
90.00%
|
2,034
|
2,132
|
(98)
|
(1)
|
Shopping
Neuquén S.A.
|
99.95%
|
99.95%
|
953
|
956
|
(3)
|
(121)
|
Centro
de Entretenimientos La Plata S.A. (5)(4)(3)
|
95.40%
|
95.40%
|
625
|
592
|
33
|
40
|
Pareto
S.A. (9)
|
91.96%
|
69.96%
|
108
|
88
|
(33)
|
(25)
|
Entertainment
Holdings S.A.
|
70.00%
|
70.00%
|
18
|
156
|
(138)
|
(62)
|
Emprendimiento
Recoleta S.A. (1)
|
53.68%
|
53.68%
|
67
|
74
|
(7)
|
(29)
|
Entretenimiento
Universal S.A. (2)
|
3.75%
|
3.75%
|
(2)
|
(2)
|
-
|
-
|
Fibesa
S.A. (2)
|
97.00%
|
97.00%
|
(44)
|
(106)
|
62
|
130
|
La
Malteria S.A. (6)
|
-
|
-
|
-
|
-
|
-
|
242
|
Associates
|
|
|
|
|
|
|
TGLT
S.A. (6) (7) (8)
|
27.82%
|
30.20%
|
1,835
|
2,788
|
(953)
|
(25)
|
Joint ventures
|
|
|
|
|
|
|
Quality
Invest S.A.
|
50.00%
|
50.00%
|
2,954
|
2,844
|
83
|
261
|
Nuevo
Puerto Santa Fe S.A. (5)
|
50.00%
|
50.00%
|
310
|
356
|
(45)
|
(20)
|
|
|
|
37,295
|
38,050
|
(836)
|
1,433
|
|
03.31.21
|
06.30.20
|
Beginning of the period / year
|
38,050
|
28,087
|
Irrevocable
contributions (Note 23)
|
28
|
1,625
|
Share
of (loss)/ profit, net
|
(817)
|
8,330
|
Sale
of interest of subsidiaries (ii)
|
-
|
(1,888)
|
Acquisition
of interest in associates (iii) (Note 23)
|
53
|
2,945
|
Changes
in non-controlling interest (iv)
|
-
|
(79)
|
Other
comprehensive loss
|
(19)
|
(30)
|
Dividends
distribution
|
-
|
(940)
|
End of the period / year (i)
|
37,295
|
38,050
|
|
Shopping Malls
|
Office and Other rental properties
|
Undeveloped parcels of land
|
Properties under development
|
03.31.21
|
06.30.20
|
Fair value at beginning of the period / year
|
52,224
|
56,453
|
7,710
|
2,572
|
118,959
|
83,061
|
Additions
(ii)
|
168
|
2,797
|
60
|
204
|
3,229
|
11,811
|
Disposals
(iii)
|
-
|
(15,976)
|
-
|
-
|
(15,976)
|
(2,267)
|
Transfers
(iv)
|
-
|
(466)
|
-
|
-
|
(466)
|
781
|
Capitalized
lease costs
|
5
|
10
|
-
|
-
|
15
|
22
|
Depreciation
of capitalized lease costs (i)
|
(3)
|
(1)
|
-
|
-
|
(4)
|
(14)
|
Net
(loss)/ gain from fair value adjustment on investment
properties
|
(7,805)
|
(2,617)
|
364
|
44
|
(10,014)
|
25,565
|
Fair value at end of the period / year
|
44,589
|
40,200
|
8,134
|
2,820
|
95,743
|
118,959
|
|
03.31.21
|
03.31.20
|
Rentals
and services income (Note 19)
|
4,133
|
7,799
|
Expenses
and collective promotion fund (Note 19)
|
1,663
|
3,082
|
Rental
and services costs (Note 20)
|
(2,453)
|
(4,102)
|
Net
unrealized gain from fair value adjustment on investment
properties
|
(8,625)
|
(544)
|
Net
realized gain from fair value adjustment on investment properties
(i) (ii)
|
9,736
|
492
|
|
Other buildings and facilities
|
Furniture and fixtures
|
Machinery and equipment
|
Vehicles
|
Others
|
03.31.21
|
06.30.20
|
Costs
|
533
|
279
|
1,736
|
26
|
1
|
2,575
|
2,648
|
Accumulated
depreciation
|
(359)
|
(214)
|
(1,598)
|
(26)
|
-
|
(2,197)
|
(2,102)
|
Net book amount at beginning of the period / year
|
174
|
65
|
138
|
-
|
1
|
378
|
546
|
Additions
|
67
|
4
|
39
|
-
|
-
|
110
|
181
|
Disposals
|
-
|
-
|
(2)
|
-
|
-
|
(2)
|
(6)
|
Transfers
|
681
|
-
|
-
|
-
|
-
|
681
|
(248)
|
Depreciation
charges (i)
|
(20)
|
(10)
|
(37)
|
-
|
-
|
(67)
|
(95)
|
Net book amount at end of the period / year
|
902
|
59
|
138
|
-
|
1
|
1,100
|
378
|
Costs
|
1,281
|
283
|
1,773
|
26
|
1
|
3,364
|
2,575
|
Accumulated
depreciation
|
(379)
|
(224)
|
(1,635)
|
(26)
|
-
|
(2,264)
|
(2,197)
|
Net book amount at end of the period / year
|
902
|
59
|
138
|
-
|
1
|
1,100
|
378
|
|
Completed properties
|
Undeveloped sites
|
03.31.21
|
06.30.20
|
Net book amount the beginning of the period / year
|
21
|
126
|
147
|
134
|
Additions
(ii)
|
-
|
8
|
8
|
21
|
Transfers
|
-
|
-
|
-
|
18
|
Disposals
(i)
|
(11)
|
-
|
(11)
|
(26)
|
Net book amount the end of the period / year
|
10
|
134
|
144
|
147
|
Non-current
|
|
|
140
|
138
|
Current
|
|
|
4
|
9
|
Total
|
|
|
144
|
147
|
|
Software
|
Right to receive units (ii)
|
Others
|
03.31.21
|
06.30.20
|
Costs
|
538
|
943
|
85
|
1,566
|
776
|
Accumulated
amortization
|
(368)
|
-
|
(85)
|
(453)
|
(272)
|
Net book amount at beginning of the period / year
|
170
|
943
|
-
|
1,113
|
504
|
Additions
|
9
|
-
|
-
|
9
|
883
|
Disposals
|
-
|
-
|
-
|
-
|
(6)
|
Transfers
|
-
|
-
|
-
|
-
|
(87)
|
Amortization
charges (i)
|
(49)
|
-
|
-
|
(49)
|
(181)
|
Net book amount at end of the period / year
|
130
|
943
|
-
|
1,073
|
1,113
|
Costs
|
547
|
943
|
85
|
1,575
|
1,566
|
Accumulated
amortization
|
(417)
|
-
|
(85)
|
(502)
|
(453)
|
Net book amount at end of the period / year
|
130
|
943
|
-
|
1,073
|
1,113
|
|
03.31.21
|
06.30.20
|
Shopping
malls (Note 23)
|
736
|
979
|
Machinery
and equipment
|
4
|
17
|
Others
|
8
|
-
|
Total rights of use
|
748
|
996
|
Non-current
|
748
|
996
|
Total
|
748
|
996
|
|
03.31.21
|
03.31.20
|
Shopping
malls
|
244
|
225
|
Machinery
and equipment
|
13
|
5
|
Others
|
20
|
-
|
Total amortization and depreciation of rights of use
(i)
|
277
|
230
|
|
Financial assets at amortized cost (i)
|
Financial assets at fair value through profit or loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
|
March 31, 2020
|
|
Level 1
|
Level 2
|
|
|
|
Assets as per Statement of Financial Position
|
|
|
|
|
|
|
Trade
and other receivables (excluding allowance for doubtful accounts)
(Note 13)
|
10,582
|
-
|
-
|
10,582
|
1,949
|
12,531
|
Investments
in financial assets:
|
|
|
|
|
|
|
-
Investment in equity public companies´ securities
|
-
|
96
|
-
|
96
|
-
|
96
|
-
Bonds
|
-
|
7,230
|
-
|
7,230
|
-
|
7,230
|
Derivative
financial instruments
|
|
|
|
|
|
|
-
Foreign - currency future contracts
|
-
|
-
|
9
|
9
|
-
|
9
|
Cash
and cash equivalents:
|
|
|
|
|
|
|
-
Cash at banks and on hand
|
74
|
-
|
-
|
74
|
-
|
74
|
-
Short- term investments
|
-
|
18
|
-
|
18
|
-
|
18
|
Total
|
10,656
|
7,344
|
9
|
18,009
|
1,949
|
19,958
|
|
Financial liabilities at amortized cost (i)
|
Non-financial liabilities
|
Total
|
|
|
|
|
Liabilities as per statement of financial position
|
|
|
|
Trade
and other payables (Note 15)
|
1,106
|
5,489
|
6,595
|
Derivative
financial instruments
|
4
|
-
|
4
|
Borrowings
(Note 16)
|
43,472
|
-
|
43,472
|
Total
|
44,582
|
5,489
|
50,071
|
|
Financial assets at amortized cost (i)
|
Financial assets at fair value through profit or loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
|
June 30, 2020
|
|
Level 1
|
Level 2
|
|
|
|
Assets as per Statement of Financial Position
|
|
|
|
|
|
|
Trade
and other receivables (excluding allowance for doubtful accounts)
(Note 13)
|
9,821
|
-
|
-
|
9,821
|
1,367
|
11,188
|
Investments
in financial assets:
|
|
|
|
|
|
|
-
Investment in equity public companies´ securities
|
-
|
94
|
-
|
94
|
-
|
94
|
-
Bonds
|
-
|
6,028
|
-
|
6,028
|
-
|
6,028
|
-
Mutual funds
|
-
|
84
|
-
|
84
|
-
|
84
|
Derivative
financial instruments
|
|
|
|
|
|
|
-
Foreign - currency future contracts
|
-
|
-
|
9
|
9
|
-
|
9
|
Cash
and cash equivalents:
|
|
|
|
|
|
|
-
Cash at banks and on hand
|
335
|
-
|
-
|
335
|
-
|
335
|
-
Short- term investments
|
87
|
2,145
|
-
|
2,232
|
-
|
2,232
|
Total
|
10,243
|
8,351
|
9
|
18,603
|
1,367
|
19,970
|
|
Financial liabilities at amortized cost (i)
|
Non-financial liabilities
|
Total
|
|
|
|
|
Liabilities as per statement of financial position
|
|
|
|
Trade
and other payables (Note 15)
|
1,119
|
4,231
|
5,350
|
Derivative
financial instruments
|
29
|
-
|
29
|
Borrowings
(Note 16)
|
50,331
|
-
|
50,331
|
Total
|
51,479
|
4,231
|
55,710
|
|
03.31.21
|
06.30.20
|
Lease
and services receivables
|
1,317
|
1,329
|
Averaging
of scheduled rent escalation
|
827
|
391
|
Post-dated
checks
|
414
|
349
|
Debtors
under legal proceedings
|
344
|
454
|
Consumer
financing receivables
|
16
|
22
|
Property
sales receivables
|
17
|
22
|
Less:
allowance for doubtful accounts
|
(555)
|
(710)
|
Total trade receivables
|
2,380
|
1,857
|
Advance
payments
|
498
|
559
|
Prepayments
|
414
|
284
|
Other
tax receivables
|
210
|
133
|
Loans
|
99
|
106
|
Expenses
to be recovered
|
25
|
44
|
Others
|
10
|
32
|
Total other receivables
|
1,256
|
1,158
|
Related
parties (Note 23)
|
8,340
|
7,463
|
Total current trade and other receivables
|
11,976
|
10,478
|
Non-current
|
7,602
|
6,330
|
Current
|
4,374
|
4,148
|
Total
|
11,976
|
10,478
|
|
03.31.21
|
06.30.20
|
Beginning of the period / year
|
710
|
413
|
Additions
(Note 20)
|
175
|
361
|
Unused
amounts reversed (Note 20)
|
(168)
|
(12)
|
Inflation
adjustment
|
(162)
|
(52)
|
End of the period / year
|
555
|
710
|
|
Note
|
03.31.21
|
03.31.20
|
Net loss for the period
|
|
(4,780)
|
(2,515)
|
Adjustments:
|
|
|
|
Income
tax
|
18
|
(1,467)
|
72
|
Amortization
and depreciation
|
20
|
397
|
441
|
Gain
from disposal of trading properties
|
|
-
|
(345)
|
Net
loss from fair value adjustments of investment
properties
|
7
|
10,014
|
533
|
Directors’
fees provision
|
|
616
|
100
|
Averaging
of schedule rent escalation
|
19
|
(603)
|
33
|
Financial
results, net
|
|
(5,963)
|
8,795
|
Provisions
and allowances
|
13
and 17
|
47
|
188
|
Share
of loss/ (profit) of associates and joint ventures
|
6
|
817
|
(1,433)
|
Foreign
unrealized exchange gain on cash and fair value result of cash
equivalents
|
|
(10)
|
(43)
|
Changes in operating assets and liabilities:
|
|
|
|
Decrease
in inventories
|
|
11
|
3
|
Decrease/
(increase) of trading properties
|
|
11
|
(21)
|
Decrease
in trade and other receivables
|
|
2,624
|
1,120
|
Increase
/ (decrease) in trade and other payables
|
|
825
|
(538)
|
Increase/
(decrease) in payroll and social security liabilities
|
|
53
|
(163)
|
Uses
of provisions and inflation adjustment
|
17
|
(42)
|
(48)
|
Net cash generated from operating activities before income tax
paid
|
|
2,550
|
6,179
|
Non-cash transactions
|
03.31.21
|
03.31.20
|
Currency
translation adjustment
|
19
|
13
|
Decrease
in investment properties through an increase in property plant and
equipment
|
727
|
9
|
Decrease
in equity through an increase in trade and other
payables
|
-
|
1
|
Decrease
in investment in associates and joint ventures through a decrease
in equity
|
-
|
80
|
Increase
in investment in financial assets through a decrease in investment
in associates and joint ventures
|
-
|
39
|
Increase
in investment in associates and joint ventures through a decrease
in investments in financial assets
|
-
|
1,131
|
Increase
in trade and other payables through an increase in rights of use
assets
|
-
|
18
|
Increase
in rights of use assets through a decrease in trade and other
receivables
|
-
|
1,242
|
Increase
in rights of use assets through a decrease in property, plant and
equipment
|
-
|
29
|
Increase
in trade and other payables through a decrease in intangible
assets
|
-
|
6
|
Decrease
in investment properties through an increase in intangible
assets
|
-
|
503
|
Decrease
in trading properties through an increase in intangible
assets
|
-
|
334
|
Decrease
in property plant and equipment through an increase in
equity
|
163
|
-
|
Decrease
in property plant and equipment through an increase in tax
payables
|
54
|
-
|
Increase
in financial assets through an increase in borrowings
|
22
|
-
|
Increase
in rights of use assets through an increase in leases
liabilities
|
28
|
-
|
Decrease
in property plant and equipment through an increase in investment
properties
|
263
|
-
|
Decrease
in equity through a decrease in trade and other receivables
(dividends)
|
9,423
|
-
|
Decrease
in borrowings through a decrease in financial assets
|
271
|
-
|
Increase
in trade and other receivables through a decrease in financial
assets
|
933
|
-
|
Decrease
in investment in associates and joint ventures through a decrease
in other payables
|
62
|
-
|
Decrease
in trade and other receivables through a decrease in
borrowings
|
156
|
-
|
Increase
in investment properties through a decrease in trade and other
receivables
|
7
|
-
|
Increase
in financial assets through an increase in borrowings
|
800
|
-
|
Increase
in trading properties through a decrease in trade and other
receivables
|
8
|
-
|
Decrease
in trade receivables through a decrease in leases
liabilities
|
9
|
-
|
|
03.31.21
|
06.30.20
|
Admission
rights
|
887
|
1,266
|
Rent
and service payments received in advance
|
920
|
1,232
|
Trade
payables
|
377
|
321
|
Accrued
invoices
|
212
|
253
|
Tenant
deposits
|
65
|
107
|
Payments
received in advance
|
100
|
30
|
Total trade payables
|
2,561
|
3,209
|
Tax
payables
|
618
|
143
|
Other
income to be accrued
|
47
|
51
|
Other
payables
|
11
|
10
|
Tax
payment plans
|
5
|
8
|
Total other payables
|
681
|
212
|
Related
parties (Note 23)
|
3,353
|
1,929
|
Total trade and other payables
|
6,595
|
5,350
|
Non-current
|
886
|
1,313
|
Current
|
5,709
|
4,037
|
Total
|
6,595
|
5,350
|
|
Book Value at 03.31.21
|
Book Value at 06.30.20
|
Fair Value at 03.31.21
|
Fair Value at 06.30.20
|
Non-Convertible
notes
|
32,605
|
47,333
|
27,873
|
35,333
|
Bank
loans
|
279
|
454
|
279
|
454
|
Related
parties (Note 23)
|
5,173
|
683
|
5,115
|
567
|
Bank
overdrafts
|
5,415
|
1,861
|
5,415
|
1,860
|
Total borrowings
|
43,472
|
50,331
|
38,682
|
38,214
|
Non-current
|
32,943
|
34,119
|
|
|
Current
|
10,529
|
16,212
|
|
|
Total
|
43,472
|
50,331
|
|
|
|
03.31.21
|
06.30.20
|
Balances at the beginning of the period / year
|
124
|
123
|
Increases
(Note 21)
|
42
|
103
|
Recovery
(Note 21)
|
(2)
|
(46)
|
Used
during the period / year
|
(4)
|
(10)
|
Inflation
adjustment
|
(38)
|
(46)
|
Balances at the end of the period / year
|
122
|
124
|
Non-current
|
59
|
79
|
Current
|
63
|
45
|
Total
|
122
|
124
|
|
03.31.21
|
03.31.20
|
Deferred
income tax
|
1,467
|
(72)
|
Income tax
|
1,467
|
(72)
|
|
03.31.21
|
06.30.20
|
Beginning of the period / year
|
(26,097)
|
(19,694)
|
Income
tax
|
1,467
|
(6,280)
|
Appraisal
surplus reserve
|
(54)
|
(123)
|
End of the period / year
|
(24,684)
|
(26,097)
|
|
03.31.21
|
03.31.20
|
Loss
for period before income tax at the prevailing tax
rate
|
1,874
|
733
|
Tax
effects of:
|
|
|
Fiscal
transparency
|
27
|
133
|
Difference
between provisions and affidavits
|
269
|
60
|
Rate
change
|
1,371
|
1,199
|
Share
of loss/ (profit) of subsidiaries, associates and joint
ventures
|
(245)
|
434
|
Profit
from sale of subsidiaries
|
-
|
(561)
|
Tax
inflation adjustment
|
(2,697)
|
(2,076)
|
Inflation
adjustment
|
785
|
6
|
Non-taxable
profit, non-deductible expenses and others
|
83
|
-
|
Income tax
|
1,467
|
(72)
|
|
03.31.21
|
03.31.20
|
Base
rent
|
2,090
|
4,762
|
Contingent
rent
|
841
|
1,785
|
Admission
rights
|
478
|
891
|
Averaging
of scheduled rent escalation
|
603
|
(33)
|
Property
management fees
|
82
|
104
|
Others
|
25
|
55
|
Parking
fees
|
14
|
235
|
Rentals and services income
|
4,133
|
7,799
|
Sale
of trading properties
|
67
|
416
|
Gain from disposal of trading properties
|
67
|
416
|
Total revenues from sales, rentals and services
|
4,200
|
8,215
|
Expenses
and collective promotion fund
|
1,663
|
3,082
|
Total revenues from expenses and collective promotion
funds
|
1,663
|
3,082
|
Total revenues
|
5,863
|
11,297
|
|
Costs (2)
|
General and administrative expenses
|
Selling expenses
|
03.31.21
|
03.31.20
|
Salaries,
social security costs and other personnel administrative expenses
(1)
|
853
|
471
|
62
|
1,386
|
1,666
|
Maintenance,
security, cleaning, repairs and others
|
749
|
80
|
1
|
830
|
1,372
|
Taxes,
rates and contributions
|
244
|
3
|
498
|
745
|
748
|
Directors'
fees
|
-
|
616
|
-
|
616
|
378
|
Amortization
and depreciation
|
306
|
89
|
2
|
397
|
441
|
Fees
and payments for services
|
19
|
90
|
218
|
327
|
202
|
Advertising
and other selling expenses
|
222
|
-
|
5
|
227
|
635
|
Leases
and expenses
|
85
|
28
|
2
|
115
|
330
|
Traveling,
transportation and stationery
|
10
|
8
|
1
|
19
|
47
|
Cost
of sale of properties
|
10
|
-
|
-
|
10
|
26
|
Allowance
for doubtful accounts (additions and unused amounts reversed) (Note
13)
|
-
|
-
|
7
|
7
|
141
|
Other
expenses
|
5
|
19
|
-
|
24
|
16
|
Total expenses by nature 03.31.21
|
2,503
|
1,404
|
796
|
4,703
|
-
|
Total expenses by nature 03.31.20
|
4,208
|
1,159
|
635
|
-
|
6,002
|
|
03.31.21
|
03.31.20
|
Management
fees
|
74
|
62
|
Others
|
7
|
-
|
Interest
generated by operating credits
|
56
|
158
|
Loss
for sale of subsidiaries, associates and joint
ventures
|
-
|
(8)
|
Donations
|
(50)
|
(59)
|
Lawsuits
(Note 17)
|
(40)
|
(47)
|
Total other operating results, net
|
47
|
106
|
|
03.31.21
|
03.31.20
|
-
Interest income
|
677
|
510
|
Finance income
|
677
|
510
|
-
Interest expense
|
(3,141)
|
(2,996)
|
-
Other finance costs
|
(354)
|
(188)
|
Finance costs
|
(3,495)
|
(3,184)
|
-
Foreign exchange, net
|
891
|
(4,791)
|
-
Fair value gains / (loss) of financial assets and liabilities at
Fair value through profit or loss
|
3,688
|
(1,151)
|
-
(Loss) / Gain from derivative financial instruments
|
(338)
|
26
|
-
(Loss) / Gain for repurchase of non-convertible notes
|
(5)
|
42
|
Other financial results
|
4,236
|
(5,874)
|
-
Inflation adjustment
|
1,959
|
(209)
|
Total financial results, net
|
3,377
|
(8,757)
|
Items
|
03.31.21
|
06.30.20
|
Trade
and other receivables
|
8,340
|
7,463
|
Rights
of use assets
|
736
|
979
|
Investments
in financial assets
|
6,457
|
5,945
|
Trade
and other payables
|
(3,353)
|
(1,929)
|
Borrowings
|
(5,173)
|
(683)
|
Leases
liabilities
|
(8)
|
-
|
Total
|
6,999
|
11,775
|
Related parties
|
03.31.21
|
06.30.20
|
Description of transaction
|
IRSA
Inversiones y Representaciones Sociedad Anónima
(IRSA)
|
4,416
|
3,853
|
Non-convertible
notes
|
|
7,124
|
3,537
|
Loans
granted
|
|
184
|
193
|
Other
receivables
|
|
38
|
77
|
Corporate
services
|
|
131
|
-
|
Received
granted
|
|
12
|
17
|
Equity
incentive plan
|
|
14
|
-
|
Lease
collections
|
|
6
|
14
|
Leases
and/or rights to use space
|
|
1
|
1
|
Commissions
|
|
5
|
13
|
Reimbursement
of expenses receivable
|
|
(2,912)
|
(1,501)
|
Received
advances
|
Total direct parent company
|
9,019
|
6,204
|
|
Cresud
S.A.CI.F. y A.
|
2,041
|
2,092
|
Non-convertible
notes
|
|
(3)
|
(3)
|
Equity
incentive plan to pay
|
|
7
|
-
|
Leases
and/or rights to use space
|
|
(11)
|
(1)
|
Reimbursement
of expenses to pay
|
|
(172)
|
(246)
|
Corporate
services to pay
|
Total direct parent company of IRSA
|
1,862
|
1,842
|
|
Torodur
S.A.
|
-
|
256
|
Loans
granted
|
|
(4,699)
|
-
|
Borrowings
|
|
(134)
|
(683)
|
Non-convertible
notes
|
Panamerican
Mall S.A.
|
3
|
34
|
Reimbursement
of expenses receivable
|
|
194
|
194
|
Other
receivables
|
|
-
|
14
|
Management
fee receivable
|
|
(1)
|
-
|
Management
fee to pay
|
|
(22)
|
(3)
|
Lease
collections to pay
|
|
(4)
|
(3)
|
Leases
and/or rights to use space to pay
|
Arcos
del Gourmet S.A.
|
-
|
138
|
Loans
granted
|
|
7
|
29
|
Reimbursement
of expenses receivable
|
|
-
|
17
|
Management
fee
|
|
(9)
|
-
|
Lease
collections to pay
|
|
-
|
1
|
Lease
collections
|
|
-
|
23
|
Other
receivables
|
|
(4)
|
-
|
Leases
and/or rights to use space to pay
|
Fibesa
S.A.
|
7
|
9
|
Other
receivables
|
|
1
|
3
|
Leases
and/or rights to use space
|
|
(2)
|
-
|
Reimbursement
of expenses to pay
|
|
-
|
1
|
Management
fee
|
|
(23)
|
-
|
Borrowings
|
Shopping
Neuquén S.A.
|
736
|
979
|
Rights
of use assets
|
|
154
|
168
|
Loans
granted
|
|
29
|
39
|
Reimbursement
of expenses receivable
|
Ogden
Argentina S.A
|
318
|
318
|
Loans
granted
|
Boulevard
Norte S.A.
|
(4)
|
(4)
|
Reimbursement
of expenses to pay
|
Entretenimiento
Universal S.A.
|
43
|
43
|
Loans
granted
|
Centro
de Entretenimiento La Plata S.A.
|
(4)
|
-
|
Reimbursement
of expenses to pay
|
|
1
|
12
|
Reimbursement
of expenses receivable
|
Pareto
S.A.
|
2
|
3
|
Other
receivables
|
|
4
|
-
|
Loans
granted
|
|
(7)
|
-
|
Other
payables
|
La
Arena S.A.
|
1
|
4
|
Reimbursement
of expenses receivable
|
Total subsidiaries
|
(3,413)
|
1,592
|
|
Related parties
|
03.31.21
|
06.30.20
|
Description of transaction
|
Nuevo
Puerto Santa Fe S.A.
|
7
|
11
|
Management
fee
|
|
5
|
-
|
Loans
granted
|
|
1
|
-
|
Reimbursement
of expenses receivable
|
|
-
|
(1)
|
Leases
and/or rights to use space to pay
|
|
3
|
-
|
Leases
and/or rights to use space
|
Quality
S.A.
|
-
|
1
|
Management
fee
|
|
3
|
1
|
Reimbursement
of expenses
|
|
(8)
|
-
|
Leases
liabilities
|
TGLT
SA
|
11
|
12
|
Other
receivables
|
Total associates and joint ventures
|
22
|
24
|
|
Directors
|
(166)
|
(165)
|
Fees
|
Total Directors
|
(166)
|
(165)
|
|
Futuros
y Opciones.Com S.A.
|
(49)
|
-
|
Borrowings
|
IRSA
International LLC
|
-
|
365
|
Loans
granted
|
|
(28)
|
-
|
Other
payables
|
Tyrus
S.A.
|
-
|
1,885
|
Loans
granted
|
Banco
Hipotecario S.A.
|
6
|
7
|
Leases
and/or rights to use space
|
Fundación
Museo de los Niños
|
11
|
8
|
Reimbursement
of expenses receivable
|
Helmir
S.A
|
(268)
|
-
|
Non-convertible
notes
|
Hoteles
Argentinos S.A
|
2
|
3
|
Other
credits
|
La
Rural S.A.
|
(2)
|
-
|
Leases
and/or rights to use space to pay
|
|
-
|
8
|
Leases
and/or rights to use space
|
Others
related parties
|
5
|
4
|
Other
credits
|
|
(2)
|
(2)
|
Other
payables
|
Total others related parties
|
(325)
|
2,278
|
|
Total
|
6,999
|
11,775
|
|
Related parties
|
03.31.21
|
03.31.20
|
Description of transaction
|
IRSA
Inversiones y Representaciones Sociedad Anónima
(IRSA)
|
46
|
77
|
Corporate
services
|
|
603
|
(78)
|
Financial
operations
|
|
4
|
1
|
Leases
and/or rights to use space
|
Total direct parent company
|
653
|
-
|
|
Cresud
S.A.CI.F. y A.
|
333
|
(67)
|
Financial
operations
|
|
20
|
12
|
Leases
and/or rights to use space
|
|
(381)
|
(411)
|
Corporate
services
|
Total direct parent company of IRSA
|
(28)
|
(466)
|
|
Arcos
del Gourmet S.A.
|
26
|
7
|
Fees
|
|
(5)
|
4
|
Financial
operations
|
|
(4)
|
(180)
|
Leases
and/or rights to use space
|
Fibesa
S.A.
|
-
|
10
|
Leases
and/or rights to use space
|
|
2
|
3
|
Fees
|
|
2
|
-
|
Financial
operations
|
Torodur
S.A.
|
(37)
|
(337)
|
Financial
operations
|
Shopping
Neuquén S.A.
|
(8)
|
9
|
Financial
operations
|
|
(245)
|
(225)
|
Leases
and/or rights to use space
|
Ogden
Argentina S.A
|
(1)
|
63
|
Financial
operations
|
Panamerican
Mall S.A.
|
37
|
47
|
Fees
|
|
(4)
|
(19)
|
Leases
and/or rights to use space
|
|
9
|
(1)
|
Financial
operations
|
La
Arena S.A.
|
-
|
(8)
|
Fees
|
La
Rural S.A.
|
(5)
|
(16)
|
Financial
operations
|
Entretenimiento
Universal S.A.
|
-
|
6
|
Financial
operations
|
Others
subsidiaries IRSA Propiedades Comerciales S.A
|
-
|
(2)
|
Financial
operations
|
|
3
|
2
|
Fees
|
|
(1)
|
-
|
Leases
and/or rights to use space
|
Total subsidiaries
|
(231)
|
(637)
|
|
Nuevo
Puerto Santa Fe S.A.
|
(1)
|
(3)
|
Leases
and/or rights to use space
|
|
4
|
12
|
Fees
|
Quality
Invest S.A.
|
2
|
2
|
Leases
and/or rights to use space
|
|
(9)
|
-
|
Financial
operations
|
Total associates and joint ventures
|
(4)
|
11
|
|
Directors
|
(616)
|
(378)
|
Fees
|
Senior
Management
|
(26)
|
(29)
|
Fees
|
Total directors
|
(642)
|
(407)
|
|
IRSA
International LLC
|
28
|
40
|
Financial
operations
|
Tyrus
S.A
|
168
|
81
|
Financial
operations
|
BHN
Seguros Generales S.A.
|
10
|
10
|
Leases
and/or rights to use space
|
BHN
Sociedad de Inversión S.A.
|
5
|
5
|
Leases
and/or rights to use space
|
BHN
Vida S.A.
|
10
|
10
|
Leases
and/or rights to use space
|
BACS
Administradora de Activos S.A.
|
4
|
4
|
Leases
and/or rights to use space
|
Museo
de los Niños
|
(16)
|
-
|
Donations
|
Banco
de Crédito y Securitización S.A.
|
54
|
51
|
Leases
and/or rights to use space
|
Estudio
Zang, Bergel & Viñes
|
(10)
|
(22)
|
Fees
|
TGLT
S.A.
|
-
|
4
|
Leases
and/or rights to use space
|
|
-
|
48
|
Financial
operations
|
Others
|
1
|
6
|
Leases
and/or rights to use space
|
Total others related parties
|
254
|
237
|
|
Total
|
2
|
(1,262)
|
|
Related parties
|
03.31.21
|
03.31.20
|
Description of transaction
|
IRSA
Inversiones y Representaciones S.A.
|
9,126
|
868
|
Dividends
granted
|
Cresud
S.A.CI.F. y A.
|
395
|
16
|
Dividends
granted
|
E-commerce
Latina S.A.
|
159
|
13
|
Dividends
granted
|
Tyrus
S.A.
|
57
|
-
|
Dividends
granted
|
Helmir
S.A
|
1
|
-
|
Dividends
granted
|
Total dividends granted
|
9,738
|
897
|
|
Panamerican
Mall S.A.
|
-
|
(792)
|
Dividends
received
|
Fibesa
S.A.
|
-
|
(97)
|
Dividends
received
|
Nuevo
Puerto Santa Fe S.A.
|
-
|
(52)
|
Dividends
received
|
Total dividends received
|
-
|
(941)
|
|
Quality
Invest S.A.
|
26
|
55
|
Irrevocable
contributions granted
|
La
Malteria S.A.
|
2
|
-
|
Irrevocable
contributions granted
|
Total irrevocable contributions to joint ventures
|
28
|
55
|
|
TGLT
S.A.
|
-
|
(1,814)
|
Share
sale
|
Total share sale
|
-
|
(1,814)
|
|
Pareto
S.A.
|
53
|
-
|
Share
acquisition
|
TGLT
S.A.
|
-
|
2,944
|
Share
acquisition
|
Total share acquisition
|
53
|
2,944
|
|
Exhibit A - Property, plant and equipment
|
Note 7 - Investment properties
|
|
Note 8 - Property, plant and equipment
|
Exhibit B - Intangible assets
|
Note 10 - Intangible assets
|
Exhibit C - Equity investments
|
Note 6 - Investment in subsidiaries, associates and joint
ventures
|
Exhibit D - Other investments
|
Note 12 - Financial instruments by category
|
Exhibit E – Provisions
|
Note 13 - Trade and other receivables
|
|
Note 17 - Provisions
|
Exhibit F – Cost of sales and services provided
|
Note 9 - Trading properties
|
|
Note 20 - Expenses by nature
|
Exhibit G - Foreign currency assets and liabilities
|
Note 25 - Foreign currency assets and liabilities
|
PRICE
WATERHOUSE & CO. S.R.L.
(Partner)
C.P.C.E.C.A.B.A. Tº 1 Fº 17
Dr. Walter Zablocky
Public Accountant (UNLP)
C.P.C.E.C.A.B.A. Tº 340 Fº 156
|
|
ABELOVICH,
POLANO & ASOCIADOS S.R.L.
(Partner)
C.P.C.E.C.A.B.A. T° 1 F° 30
José Daniel Abelovich
Public Accountant (U.B.A.)
C.P.C.E.C.A.B.A. T° 102 F° 191
|
(In ARS million)
|
IIIQ 21
|
IIIQ 20
|
YoY Var
|
9M 21
|
9M 20
|
YoY Var
|
Income from sales, leases and
services(1)
|
2,173
|
2,773
|
(21.6)%
|
5,668
|
10,470
|
(45.9)%
|
Net
result from fair value adjustment of investment
properties
|
(14,325)
|
(2,648)
|
441.0%
|
(10,679)
|
533
|
(2,103.6)%
|
Realized result from fair value adjustment of
investment properties (4)
|
-
|
-
|
-
|
9,737
|
759
|
1,181.2%
|
Result from operations
|
(12,994)
|
(626)
|
1,975.7%
|
(8,316)
|
8,082
|
(202.9)%
|
Depreciation
and amortization
|
89
|
68
|
30.9%
|
221
|
277
|
(20.2)%
|
Consolidated EBITDA(2)
|
(12,526)
|
(1,574)
|
695.8%
|
(3,175)
|
2,083
|
(252.4)%
|
Consolidated Adjusted EBITDA(2)
|
1,420
|
2,090
|
(32.1)%
|
12,321
|
7,436
|
65.7%
|
Consolidated NOI(3)
|
1,861
|
2,377
|
(21.7)%
|
13,834
|
8,599
|
60.9%
|
Result for the period
|
(10,765)
|
(1,999)
|
438.5%
|
(4,794)
|
(2,384)
|
101.1%
|
|
IIIQ 21
|
IIQ 21
|
IQ 21
|
IVQ 20
|
IIIQ 20
|
Gross
leasable area (sqm)
|
335,893
|
333,460
|
333,345
|
333,062
|
332,642
|
Tenants’
sales (3 months cumulative in current currency)
|
23,193
|
24,551
|
6,506
|
2,118
|
23,112
|
Occupancy
|
89.5%
|
88.3%
|
92.8%
|
93.2%
|
94.8%
|
(in ARS million)
|
IIIQ 21
|
IIIQ 20
|
YoY Var
|
9M 21
|
9M 20
|
YoY Var
|
Income
from sales. rentals and services
|
1,553
|
2,021
|
(23.2)%
|
3,748
|
7,625
|
(50.8)%
|
Net
result from fair value adjustment of investment
properties
|
(4,318)
|
(2,409)
|
79.2%
|
(9,697)
|
(5,294)
|
83.2%
|
Result
from operations
|
(3,331)
|
(910)
|
266.0%
|
(7,804)
|
240
|
(3,351.7)%
|
Depreciation
and amortization
|
59
|
20
|
195.0%
|
136
|
131
|
3.8%
|
EBITDA(1)
|
(3,272)
|
(890)
|
267.6%
|
(7,668)
|
371
|
(2,166.8)%
|
Adjusted EBITDA(1)
|
1,046
|
1,519
|
(31.1)%
|
2,029
|
5,665
|
(64.2)%
|
NOI(2)
|
1,387
|
1,681
|
(17.5)%
|
3,198
|
6,559
|
(51.2)%
|
|
Date of acquisition
|
Location
|
Gross
Leasable Area (sqm)(1)
|
Stores
|
Occupancy
(2)
|
IRSA
CP Interest (3)
|
Alto
Palermo
|
Dec-97
|
City
of Buenos Aires
|
19,608
|
132
|
98.2%
|
100%
|
Abasto Shopping(4)
|
Nov-99
|
City
of Buenos Aires
|
36,794
|
162
|
99.8%
|
100%
|
Alto
Avellaneda
|
Dec-97
|
Province
of Buenos Aires
|
40,170
|
128
|
68.7%
|
100%
|
Alcorta
Shopping
|
Jun-97
|
City
of Buenos Aires
|
15,812
|
112
|
91.4%
|
100%
|
Patio
Bullrich
|
Oct-98
|
City
of Buenos Aires
|
11,396
|
89
|
88.3%
|
100%
|
Dot
Baires Shopping
|
May-09
|
City
of Buenos Aires
|
48,427
|
163
|
73.0%
|
80%
|
Soleil
|
Jul-10
|
Province
of Buenos Aires
|
15,158
|
78
|
90.8%
|
100%
|
Distrito
Arcos
|
Dec-14
|
City
of Buenos Aires
|
14,335
|
65
|
100.0%
|
90.0%
|
Alto
Noa Shopping
|
Mar-95
|
Salta
|
19,313
|
85
|
99.6%
|
100%
|
Alto Rosario Shopping(4)
|
Nov-04
|
Santa
Fe
|
33,975
|
139
|
94.7%
|
100%
|
Mendoza
Plaza Shopping
|
Dec-94
|
Mendoza
|
43,312
|
129
|
97.4%
|
100%
|
Córdoba
Shopping
|
Dec-06
|
Córdoba
|
15,361
|
104
|
96.6%
|
100%
|
La
Ribera Shopping
|
Aug-11
|
Santa
Fe
|
10,530
|
70
|
96.2%
|
50%
|
Alto
Comahue
|
Mar-15
|
Neuquén
|
11,702
|
95
|
89.8%
|
99.95%
|
Patio Olmos(5)
|
Sep-07
|
Córdoba
|
|
|
|
|
Total
|
|
|
335,893
|
1,551
|
89.5%
|
|
(per Shopping Mall in ARS million)
|
IIIQ 21
|
IIIQ 20
|
YoY Var
|
9M 21
|
9M 20
|
YoY Var
|
Alto
Palermo
|
2,439
|
2,708
|
(9.9)%
|
5,278
|
11,534
|
(54.2)%
|
Abasto
Shopping
|
2,354
|
2,884
|
(18.4)%
|
4,798
|
11,683
|
(58.9)%
|
Alto
Avellaneda
|
2,136
|
2,483
|
(14.0)%
|
3,977
|
10,347
|
(61.6)%
|
Alcorta
Shopping
|
1,933
|
1,661
|
16.4%
|
4,159
|
6,875
|
(39.5)%
|
Patio
Bullrich
|
1,042
|
1,143
|
(8.8)%
|
2,681
|
4,580
|
(41.5)%
|
Dot
Baires Shopping
|
1,677
|
2,330
|
(28.0)%
|
3,724
|
9,194
|
(59.5)%
|
Soleil
|
1,313
|
1,109
|
18.4%
|
3,000
|
4,776
|
(37.2)%
|
Distrito
Arcos
|
1,491
|
1,253
|
19.0%
|
4,080
|
5,375
|
(24.1)%
|
Alto
Noa Shopping
|
1,321
|
1,153
|
14.6%
|
3,479
|
4,027
|
(13.6)%
|
Alto
Rosario Shopping
|
3,063
|
2,489
|
23.1%
|
7,815
|
9,455
|
(17.3)%
|
Mendoza
Plaza Shopping
|
2,539
|
1,977
|
28.4%
|
6,517
|
7,040
|
(7.4)%
|
Córdoba
Shopping
|
880
|
710
|
23.9%
|
2,543
|
2,899
|
(12.3)%
|
La Ribera Shopping(1)
|
404
|
509
|
(20.6)%
|
946
|
1,959
|
(51.7)%
|
Alto
Comahue
|
601
|
703
|
(14.5)%
|
1,252
|
2,848
|
(56.0)%
|
Total
|
23,193
|
23,112
|
0.4%
|
54,249
|
92,592
|
(41.4)%
|
(per Type of Business. in ARS million)
|
IIIQ 21
|
IIIQ 20
|
YoY Var
|
9M 21
|
9M 20
|
YoY Var
|
Anchor
Store
|
1,803
|
1,190
|
51.5%
|
2,908
|
4,909
|
(40.8)%
|
Clothes
and Footwear
|
11,448
|
11,851
|
(3.4)%
|
29,830
|
51,036
|
(41.6)%
|
Entertainment
|
280
|
842
|
(66.7)%
|
336
|
2,906
|
(88.4)%
|
Home
|
750
|
487
|
54.0%
|
1,565
|
1,898
|
(17.5)%
|
Restaurant
|
2,116
|
2,950
|
(28.3)%
|
4,005
|
10,401
|
(61.5)%
|
Miscellaneous
|
3,509
|
3,579
|
(2.0)%
|
8,533
|
12,876
|
(33.7)%
|
Services
|
383
|
323
|
18.6%
|
664
|
1,082
|
(38.6)%
|
Electronic
appliances
|
2,904
|
1,890
|
53.7%
|
6,408
|
7,484
|
(14.4)%
|
Total
|
23,193
|
23,112
|
0.4%
|
54,249
|
92,592
|
(41.4)%
|
(in ARS million)
|
IIIQ 21
|
IIIQ 20
|
YoY Var
|
9M 21
|
9M 20
|
YoY Var
|
Base Rent (1)
|
830
|
1,086
|
(23.6)%
|
1,834
|
3,677
|
(50.1)%
|
Contingent
Rent
|
461
|
377
|
22.3%
|
984
|
2,007
|
(51.0)%
|
Total Rent
|
1,291
|
1,463
|
(11.8)%
|
2,818
|
5,684
|
(50.4)%
|
Revenues
from non-traditional advertising
|
20
|
53
|
(62.3)%
|
67
|
198
|
(66.2)%
|
Admission
rights
|
163
|
281
|
(42.0)%
|
532
|
980
|
(45.7)%
|
Fees
|
31
|
36
|
(13.9)%
|
93
|
108
|
(13.9)%
|
Parking
fees
|
11
|
106
|
(89.6)%
|
20
|
398
|
(95.0)%
|
Commissions
|
28
|
61
|
(54.1)%
|
107
|
203
|
(47.3)%
|
Others
|
9
|
21
|
(57.1)%
|
111
|
54
|
105.6%
|
Subtotal (2)
|
1,553
|
2,021
|
(23.2)%
|
3,748
|
7,625
|
(50.8)%
|
Expenses
and Collective Promotion Funds
|
685
|
1,107
|
(38.1)%
|
1,838
|
3,295
|
(44.2)%
|
Total
|
2,238
|
3,128
|
(28.5)%
|
5,586
|
10,920
|
(48.8)%
|
|
IIIQ 21
|
IIQ 21
|
IQ 21
|
IVQ 20
|
IIIQ 20
|
Gross
Leasable area
|
114,475
|
114,475
|
93,144
|
115,640
|
115,640
|
Total
Occupancy
|
76.3%
|
75.6%
|
83.7%
|
86.1%
|
87.0%
|
Class
A+ & A Occupancy
|
81.2%
|
79.5%
|
91.6%
|
93.0%
|
93.9%
|
Class
B Occupancy
|
52.4%
|
56.7%
|
53.6%
|
52.4%
|
53.2%
|
Rent
USD/sqm
|
25.4
|
25.7
|
26.0
|
26.6
|
26.6
|
(in ARS million)
|
IIIQ 21
|
IIIQ 20
|
YoY Var
|
9M 21
|
9M 20
|
YoY Var
|
Income
from sales, rentals and services
|
624
|
767
|
(18.6)%
|
1,865
|
2,422
|
(23.0)%
|
Net
result from fair value adjustment of investment
properties
|
(8,765)
|
(187)
|
4,587.2%
|
(148)
|
4,751
|
(103.1)%
|
Result from operations
|
(8,295)
|
391
|
(2,221.5)%
|
1,185
|
6,645
|
(82.2)%
|
Depreciation
and amortization
|
12
|
16
|
(25.0)%
|
32
|
41
|
(22.0)%
|
EBITDA(1)
|
(8,283)
|
407
|
(2,135.1)%
|
1,217
|
6,686
|
(81.8)%
|
Adjusted EBITDA (1)
|
482
|
594
|
(18.9)%
|
1,365
|
1,935
|
(29.5)%
|
NOI(2)
|
559
|
696
|
(19.7)%
|
1,640
|
2,237
|
(26.7)%
|
Offices & Others
|
Date of Acquisition
|
Gross
Leasable Area (sqm)(1)
|
Occupancy
(2)
|
IRSA CP’s Actual Interest
|
9M 21 - Rental revenues (ARS thousand)
|
AAA & A Offices
|
|
|
|
|
|
Republica
Building
|
Dec-14
|
19,885
|
76.6%
|
100%
|
377,999
|
Boston
Tower
|
Dec-14
|
-
|
-
|
-
|
108,893
|
Intercontinental Plaza(3)
|
Dec-14
|
2,979
|
100.0%
|
100%
|
101,739
|
Bouchard
710
|
Dec-14
|
-
|
-
|
-
|
39,010
|
Dot
Building
|
Nov-06
|
11,242
|
84.9%
|
80%
|
187,802
|
Zetta
|
May-19
|
32,173
|
84.7%
|
80%
|
633,321
|
261 Della Paolera – Catalinas
(5)
|
Dec-20
|
28,714
|
76.9%
|
100%
|
265,786
|
Total AAA & A Offices
|
|
94,993
|
81.2%
|
|
1,714,550
|
|
|
|
|
|
|
B Offices
|
|
|
|
|
|
Suipacha
652/64
|
Dec-14
|
11,465
|
31.2%
|
100%
|
38,176
|
Philips
|
Jun-17
|
8,017
|
82.7%
|
100%
|
95,189
|
Total B Buildings
|
|
19,482
|
52.4%
|
|
133,365
|
Subtotal Offices
|
|
114,475
|
76.3%
|
|
1,847,915
|
|
|
|
|
|
|
Other rental properties(4)
|
|
|
|
|
16,690
|
Total Offices and Others
|
|
114,475
|
76.3%
|
|
1,864,605
|
|
Sales and Developments
|
Others
|
||||
(in ARS million)
|
9M 21
|
9M 20
|
YoY Var
|
9M 21
|
9M 20
|
YoY Var
|
Revenues
|
68
|
420
|
(83.8)%
|
20
|
82
|
(75.6)%
|
Net
result from fair value adjustment of investment
properties
|
(769)
|
1,363
|
(156.4)%
|
34
|
77
|
(55.8)%
|
Realized
result from fair value adjustments of investment
properties
|
9,737
|
759
|
1182.9%
|
-
|
-
|
-
|
Result from operations
|
(1,409)
|
1,556
|
(190.6)%
|
(134)
|
32
|
(518.8)%
|
Depreciation
and amortization
|
7
|
6
|
16.7%
|
50
|
45
|
11.1%
|
EBITDA(1)
|
(1,402)
|
1,562
|
(189.8)%
|
(84)
|
77
|
(209.1)%
|
Adjusted EBITDA(1)
|
9,104
|
(191)
|
-
|
(118)
|
-
|
100.0%
|
NOI(2)
|
9,217
|
(138)
|
-
|
(80)
|
29
|
(375.9)%
|
|
Investment Properties Sales – 9M2021
|
||||
Office Buildings
|
Date
|
Floors
|
GLA
|
Price
(USD MM)
|
Price sqm
(USD)
|
Bouchard
710 – Total
|
Jul-2020
|
12
|
15,014
|
87.2
|
5,827
|
Boston
Tower – Partial
|
Jul
& Aug-2020
|
6
|
7,482
|
41.4
|
5,530
|
IQ21 Sales
|
|
|
22,496
|
128.6
|
|
Boston
Tower - Remaining
|
Nov-2020
|
7
|
7,158
|
42.0(1)
|
5,710
|
IIQ21 Sales
|
|
|
7,158
|
42.0
|
|
Item
(stated in ARS million)
|
Income by Segment
|
Expenses and Collective Promotion Funds
|
Adjustment
for share of profit / (loss) of joint ventures (1)
|
Income Statement
|
Revenues
|
5,701
|
2,008
|
(33)
|
7,676
|
Costs
|
(832)
|
(2,169)
|
45
|
(2,956)
|
Gross profit
|
4,869
|
(161)
|
12
|
4,720
|
Net
result from fair value adjustments of investment
property
|
(10,580)
|
-
|
(99)
|
(10,679)
|
General
and administrative expenses
|
(1,495)
|
-
|
5
|
(1,490)
|
Selling
expenses
|
(856)
|
-
|
12
|
(844)
|
Other
operating results, net
|
(100)
|
79
|
(2)
|
(23)
|
Result from operations
|
(8,162)
|
(82)
|
(72)
|
(8,316)
|
Description
|
Currency
|
Amount (USD MM)(1)
|
Interest Rate
|
Maturity
|
Bank
loans and overdrafts
|
ARS
|
62.5
|
-
|
<
360 days
|
PAMSA
loan
|
USD
|
22.5
|
Fixed
|
Feb-23
|
IRSA CP Notes Series II (2)
|
USD
|
358.5
|
8.75%
|
Mar-23
|
IRSA CP’s Total Debt
|
USD
|
443.5
|
|
|
Cash & Cash Equivalents + Investments
(3)
|
USD
|
95.5
|
|
|
Intercompany
Credit
|
ARS
|
72.2
|
|
|
IRSA CP’s Net Debt
|
USD
|
275.8
|
|
|
Year
|
Dividend paid stated in terms of the measuring unit current as of
March 31, 2021
|
Dividend per share paid stated in terms of the measuring unit
current as of March 31, 2021
|
Dividend paid stated in terms of the measuring unit current as of
the date of each corresponding shareholders’
meeting
|
Dividend per share paid stated in terms of the measuring unit
current as of the date of each corresponding shareholders’
meeting
|
|
(ARS thousands)
|
(ARS)
|
(ARS thousands)
|
(ARS)
|
2018
|
2,483,292
|
19.7064
|
680,000
|
5.3962
|
2019
|
1,363,948
|
10.8238
|
545,000
|
4.3249
|
2020
|
989,599
|
7.8532
|
595,000
|
4.7217
|
2021
|
11,755,011
|
93.2833
|
9,700,000
|
76.9755
|
(in ARS million)
|
03.31.2021
|
03.31.2020
|
Non-current
assets
|
152,621
|
131,666
|
Current
assets
|
14,705
|
26,387
|
Total assets
|
167,326
|
158,053
|
Equity
attributable to the holders of the parent
|
80,342
|
70,768
|
Non-controlling
interest
|
5,506
|
4,226
|
Total shareholders’ equity
|
85,848
|
74,994
|
Non-current
liabilities
|
67,300
|
64,261
|
Current
liabilities
|
14,178
|
18,798
|
Total liabilities
|
81,478
|
83,059
|
Total liabilities and shareholders’ equity
|
167,326
|
158,053
|
(in ARS million)
|
03.31.2021
|
03.31.2020
|
Result from operations
|
(8,316)
|
8,082
|
Share
of profit of associates and joint ventures
|
(936
|
333
|
Result from operations before financing and taxation
|
(9,252)
|
8,415
|
Financial
income
|
713
|
539
|
Financial
cost
|
(3,615)
|
(3,472)
|
Other
financial results
|
4,471
|
(6,395)
|
Inflation
adjustment
|
1,769
|
20
|
Financial results. net
|
3,338
|
(9,308)
|
Result before income tax
|
(5,914)
|
(893)
|
Income
tax
|
1,120
|
(1,491)
|
Result for the period
|
(4,794)
|
(2,384)
|
|
|
|
Attributable
to:
|
|
|
Equity holders of the parent
|
(4,780)
|
(2,515)
|
Non-controlling interest
|
(14)
|
131
|
(in ARS million)
|
03.31.2021
|
03.31.2020
|
Net
cash generated from operating activities
|
3,107
|
6,858
|
Net
cash generated from / (used in) investing activities
|
5,903
|
(6,605)
|
Net
cash used in financing activities
|
(14,725)
|
(4,955)
|
Net decrease in cash and cash equivalents
|
(5,715)
|
(4,702)
|
Cash
and cash equivalents at beginning of year
|
6,263
|
8,124
|
Financial
Results from cash and cash equivalents
|
44
|
383
|
Inflation
adjustment
|
(34)
|
(50)
|
Cash and cash equivalents at period-end
|
558
|
3,755
|