BUENOS AIRES, Argentina,
Feb. 13, 2016 /PRNewswire/
-- IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BASE:
IRSA), the leading real estate company in Argentina, today announces its results for the
six-month period of Fiscal Year 2017 Ended December 31, 2016
HIGHLIGHTS
- EBITDA for the first semester of FY 2017 reached ARS 5,189 million (ARS
1,222 million from Argentina and ARS 3,967
million from Israel)
- Net result for 6M17 registered a gain of ARS 4,197 million compared to a loss of
ARS 910 million in the same period of
2016 mainly explained by the results from Israel Business Center
coming from Adama sale and the increase in Clal share price, valued
at market value.
- Tenant Sales in our malls grew by 19.9% in 6M17 while the
average rent per sqm of the office portfolio reached USD/sqm 26.1.
EBITDA of the rental segment increased by 28.6% in the compared
period.
- We reached 98.4% occupancy in our shopping malls and 100%
occupancy in our portfolio of premium offices.
- During November 2016, IDBD has
issued notes in the Israeli market for NIS
383.5 million at 6.95% fixed due 2019 to cancel existing
debt.
|
Financial
Highlights
(In millions of Argentine Pesos)
Six month period 6M 2017
Ended December 31, 2016
|
|
Income
Statement
|
12/31/2016
|
12/31/2015
|
|
Revenues
|
36,831
|
2,164
|
|
Consolidated Gross
Profit
|
10,886
|
1,192
|
|
Consolidated Profit
from Operations
|
2,288
|
1,948
|
|
Profit / (Loss) For
the Period
|
4,197
|
(910)
|
|
|
|
|
Attributable
to:
|
|
|
|
IRSA's
Shareholders
|
2,067
|
(487)
|
|
Non-Controlling
interest
|
2,130
|
(423)
|
|
|
|
|
EPS
(Basic)
|
3.59
|
(0.84)
|
|
EPS
(Diluted)
|
3.57
|
(0.84)
|
|
|
|
|
Balance
Sheet
|
12/31/2016
|
06/30/2016
|
|
Current
Assets
|
58,643
|
42,763
|
|
Non Current
Assets
|
107,470
|
116,237
|
|
Total
Assets
|
166,113
|
159,000
|
|
Current
Liabilities
|
41,163
|
43,600
|
|
Non Current
Liabilities
|
105,876
|
101,899
|
|
Total
Liabilities
|
147,039
|
145,499
|
|
Non-Controlling
Interest
|
16,071
|
12,386
|
|
Shareholders'
Equity
|
19,074
|
13,501
|
IRSA Inversiones y Representaciones S.A. (NYSE: IRS, BASE: IRSA)
is Argentina's largest, most
well-diversified real estate company, and it is the only company in
the industry whose shares are listed on both the Bolsa de Comercio
de Buenos Aires and The New York
Stock Exchange. Through its subsidiaries, IRSA manages an expanding
top portfolio of shopping centers and office buildings, primarily
in Buenos Aires. The company also
develops residential subdivisions and apartments (specializing in
high-rises and loft-style conversions) and owns three luxury hotels
Additionally, IRSA owns a stake in Banco Hipotecario, Argentina's largest mortgage supplier in the
country as well as international opportunistic investments in real
estate and other assets, including 68.3% stake in the largest
conglomerate in Israel, IDB
Development Corporation.
A longer version of this press release with detailed information
is available on the web site: http://www.irsa.com.ar as well as
IRSA last annual report ended June 30,
2016. All shareholders have the ability to receive a hard
copy of the company's financial statement free of charge upon
request.
IRSA cordially invites you to participate in its six-month
period of FY 2017 Results Conference Call on Monday, February 13, 2017, at 2:00 PM Eastern Time
If you would like to participate, please call:
United States: (877) 344-7529
International: +1-(412) 317-0088
ID# IRSA
To access the webcast, click on the link below:
http://webcast.neo1.net/Cover.aspx?PlatformId=N0NDJsrXTFj%2BCguF%2FTvdXA%3D%3D
Investor Relations Department
IRSA Inversiones y Representaciones S.A.
+ 5411 4323-7449
ir@irsa.com.ar
www.irsa.com.ar
Follow us on Twitter @irsair
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SOURCE IRSA Inversiones y Representaciones S.A.