BUENOS AIRES, Argentina,
Nov. 7, 2017 /PRNewswire/ -- IRSA
Propiedades Comerciales S.A. (NASDAQ: IRCP; MERVAL: IRCP), the
leading commercial real estate company in Argentina, announces its results for the first
quarter of FY 2018 ended September 30,
2017.
HIGHLIGHTS
- Net gain for the first quarter of FY 2018 reached ARS 1,934.7 million, 148.2% higher compared to
the gain registered in IQ17 mainly explained by higher results from
changes in the fair value of investment properties.
- The Company's Adjusted EBITDA reached ARS 755.8 million in IQ18 increasing by 34.6%
compared to the same quarter of 2017. Adjusted EBITDA for Shopping
Malls and Offices segments reached ARS 648.4
million and ARS 100.1 million,
increasing by 26.2% and 39.4% respectively.
- Our shopping centers' sales grew by 22.5% in the first quarter
of FY 2018 compared to the same quarter of 2017 and the portfolio's
occupancy rate reached 98.8%.
- During September 2017, we issued
notes in the local capital markets for USD
140 million at a fixed interest rate of 5% due 2020.
- On October 31, our Shareholders'
meeting approved a cash dividend for the sum of ARS 680 million (ARS/share 5.3962 and ARS/ADR
21.5848).
|
Financial
Highlights
(In millions of Argentine Pesos)
IQ18
Ended September 30, 2017
|
|
|
|
Income
Statement
|
09/30/2017
|
09/30/2016
|
|
Revenues from sales,
leases and services
|
987.1
|
768.4
|
|
Consolidated Gross
Profit
|
887.1
|
682.4
|
|
Consolidated Profit
from Operations
|
3,069.1
|
1,539.9
|
|
Profit / (Loss) For
the Period
|
1,934.7
|
779.6
|
|
|
|
|
Attributable
to:
|
|
|
|
IRSA CP's
Shareholders
|
1,881.1
|
752.1
|
|
Non-Controlling
interest
|
53.6
|
27.5
|
|
|
|
|
EPS
(Basic)
|
14.93
|
5.97
|
|
EPS
(Diluted)
|
14.93
|
5.97
|
|
|
|
|
Balance
Sheet
|
09/30/2017
|
06/30/2017
|
|
Current
Assets
|
7,263.9
|
4,515.3
|
|
Non Current
Assets
|
40,547.5
|
37,906.2
|
|
Total
Assets
|
47,811.4
|
42,421.5
|
|
Current
Liabilities
|
1,602.1
|
1,800.7
|
|
Non Current
Liabilities
|
21,258.4
|
17,604.6
|
|
Total
Liabilities
|
22,860.4
|
19,405.3
|
|
Non-Controlling
Interest
|
924.8
|
871.2
|
|
Shareholders'
Equity
|
24,951.0
|
23,016.2
|
IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP, ByMA: IRCP) is
the leading commercial real estate company of Argentina. It is the largest owner and manager
of shopping malls and one of the largest office buildings'
operators in terms of gross leasable area and number of rental
properties. Additionally, IRCP owns a unique landbank for future
commercial developments in Argentina.
A longer version of this press release with detailed information
is available on the web site: http://www.irsacp.com.ar
IRSA Propiedades Comerciales S.A. cordially invites you to
participate in the IQ 2018 Results Conference Call on Wednesday, November 8, 2017 at 12:30 p.m. US EST.
If you would like to participate, please call:
1-844-308-3343 (toll free)
1-412-717-9602 (international)
Conference ID # IRSA CP
To access the webcast, click on the link
below: http://webcast.engage-x.com/Cover.aspx?PlatformId=8Wd%2FxGeFBcOlFuyH8YjReQ%3D%3D
Investor Relations Department
+ 5411 4323-7449
ir@irsacp.com.ar
www.irsacp.com.ar
Follow us on Twitter @irsacpir
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SOURCE IRSA Inversiones y Representaciones S.A.