Report of Foreign Issuer (6-k)
September 11 2017 - 6:05AM
Edgar (US Regulatory)
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN ISSUER
PURSUANT
TO RULE 13a-16 OR 15b-16 OF
THE
SECURITIES EXCHANGE ACT OF 1934
For
the month of September, 2017
IRSA
Inversiones y Representaciones Sociedad
Anónima
(Exact name of Registrant as specified in its
charter)
IRSA
Investments and Representations Inc.
(Translation of registrant´s name into
English)
Republic
of Argentina
(Jurisdiction of incorporation or organization)
Bolívar
108
(C1066AAB)
Buenos
Aires, Argentina
(
Address of principal
executive offices)
Form 20-F ⌧
Form
40-F ☐
Indicate by
check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes ☐
No
x
IRSA
INVERSIONES Y REPRESENTACIONES SOCIEDAD
ANÓNIMA
(THE
“COMPANY”)
REPORT
ON FORM 6-K
By letter dated
September 8, 2017, the Company reported that in compliance with
Section 62 of the Regulations issued by the Buenos Aires Stock
Exchange, this is to report the following information:
1. Results of the period
|
In million ARS
|
|
06/30/2017
|
06/30/2016
|
06/30/2015
|
Results of the period
|
5,220
|
9,496
|
2,710
|
Attributable to:
|
|
|
|
Company's shareholders
|
3,030
|
8,973
|
2,459
|
Non-controlling interest
|
2,190
|
523
|
251
|
|
|
|
|
2. Other integral results of the period
|
In million ARS
|
|
06/30/2017
|
06/30/2016
|
06/30/2015
|
Other integral results of the period
|
4,513
|
4,155
|
(76)
|
Attributable to:
|
|
|
|
Company's shareholders
|
1,024
|
92
|
(94)
|
Non-controlling interest
|
3,489
|
4,063
|
18
|
|
|
|
|
3.
Total integral results of the period
|
In
million
ARS
|
|
06/30/2017
|
06/30/2016
|
06/30/2015
|
Total integral results of the period
|
9,733
|
13,651
|
2,634
|
Attributable to:
|
|
|
|
Company's shareholders
|
4,054
|
9,065
|
2,365
|
Non-controlling interest
|
5,679
|
4,586
|
269
|
|
|
|
|
4. Equity
|
In
million
ARS
|
|
06/30/2017
|
06/30/2016
|
06/30/2015
|
Share capital
|
575
|
575
|
574
|
Treasury shares
|
4
|
4
|
5
|
Inflation adjustment of share capital and treasury
shares
|
123
|
123
|
123
|
Additional paid-in capital
|
793
|
793
|
793
|
Additional paid-in capital from of treasury
shares
|
17
|
16
|
7
|
Legal reserve
|
143
|
117
|
117
|
Special reserve
|
2,751
|
2,755
|
2,755
|
Cost of treasury shares
|
(28)
|
(29)
|
(34)
|
Changes in non-controlling interest
|
186
|
21
|
4
|
Reserve for shares based payments
|
78
|
67
|
64
|
Reserves for future dividends
|
494
|
520
|
-
|
Reserve for currency translation adjustment
|
1,394
|
421
|
425
|
Reserve for hedging
|
19
|
(37)
|
-
|
Reserve for defined benefit plans
|
(15)
|
(10)
|
-
|
Other reserves from subsidiaries
|
37
|
37
|
-
|
Retained earnings
|
19,293
|
16,259
|
7,796
|
Total attributable to the company's shareholders
|
25,864
|
21,632
|
12,629
|
Non-controlling interest
|
21,472
|
14,224
|
963
|
Total shareholder's equity
|
47,336
|
35,856
|
13,592
|
|
|
|
|
5. Adjustment of previous results
|
In
million
ARS
|
|
06/30/2016
|
06/30/2015
|
07/01/2014
|
Change in accounting policy of investment
properties
|
22,355
|
10,722
|
8,662
|
Attributable to:
|
|
|
|
Company's shareholders
|
20,517
|
10,155
|
8,212
|
Non-controlling interest
|
1,838
|
567
|
450
|
Regarding
the
paragraph l), section 5) of the Regulations, it is recorded that
the Board of Directors has begun the analysis of the proposals that
will be made to the next annual shareholder's meeting, the result
of which will be informed to the shareholders and respective
bodies, the administrative body.
Pursuant to Article 62 (1) (6), (7) and (8) of the aforementioned
Regulations, at the closing date of the financial statements, the
Company's capital stock is ARS 578,676,460 (including own shares in
portfolio) whose shareholding composition is divided into
578,676,460 non-endorsable registered common shares of 1 nominal
value each and entitled to 1 vote each.
The main shareholder of the Company is Cresud S.A.C.I.F. and A.
(Cresud) with 366,788,251 shares, representing 63.38% of the issued
share capital. Cresud is our ultimate controlling entity and is a
company incorporated and domiciled in the Argentine Republic. The
address of its headquarters is Moreno 877, 23 ° floor,
Autonomous City of Buenos Aires, Argentina.
As of June 30, 2016 there are no options or negotiable obligations
convertible into circulation to acquire our shares.
We also inform that as of June 30, 2017, by subtracting Cresud's
holding and own shares in the portfolio, the remaining shareholders
had 208,377,022 non-endorsable common shares of 1 nominal value
each and entitled to 1 vote each of the Company representing 36.01%
of the issued share capital.
Below are the
highlights for the period ended June 30, 2017:
➢
We decided to
change the valuation method for the investment properties from
historical cost to reasonable value, which was reflected in the
company’s financial statements as of the IVQ of
FY17.
➢
Adjusted EBITDA for
the FY 2017 reached ARS 9,957 million (ARS 2,397 million from
Argentina and ARS 7,560 million from Israel), increasing by 63.8%
compared to 2016.
➢
Net result for FY17
registered a gain of ARS 5,520 million compared to a gain of ARS
9,496 million in 2016 mainly explained by lower results from
changes in the fair value of investments properties compensated by
the results coming from Adama sale and the increase in Clal share
price added to the fact that we are consolidating 12 months of 2017
in the Israel Business Center compared to 6 months of
2016.
➢
Tenant Sales in our
malls grew by 19.1% in FY17 while the average rent per sqm of the
office portfolio reached USD/sqm 25.3. EBITDA of the rental segment
increased by 27.5% in the compared period.
➢
We reached 98.0%
occupancy in our shopping malls, 96.2% occupancy in our offices and
67.3% in our hotels’ portfolio.
➢
During 2017, IDBD
has issued notes in the Israeli market for NIS 1,060 million at a
fixed rate of 5.40% due 2019 to refinance its short term
debt.
SIGNATURES
Pursuant to the
requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized, in the city of
Buenos Aires, Argentina.
|
IRSA
Inversiones y Representaciones Sociedad
Anónima
|
|
|
|
By:
|
/S/ Saúl
Zang
|
|
|
|
Name:
Saúl Zang
|
|
|
|
Title:
Responsible for the Relationship with the Markets
|
|
Dated: September 8,
2017
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