BUENOS AIRES, Argentina,
Sept. 6, 2021 /PRNewswire/ -- IRSA Propiedades Comerciales
S.A. (NASDAQ: IRCP; ByMA: IRCP), the leading commercial real estate
company in Argentina, announces
its results for the Fiscal Year 2021 ended June 30, 2021.
HIGHLIGHTS
- The results for fiscal year 2021 have been affected by the
restrictions due to the COVID19 pandemic. The company's shopping
malls were closed for most of the year while the offices remained
operational, even though most of the tenants adopted the remote
work modality.
- Tenant sales in shopping malls fell 27.8% in real terms in
fiscal 2021 compared to 2020 and the occupancy of the portfolio was
90%. Office revenue fell 21.9% and occupancy in A + and A buildings
dropped to 80%. Adjusted EBITDA of the rental segment reached
ARS 4,670 million in fiscal year
2021, 47.3% lower than in 2020, while total Adjusted EBITDA, which
includes investment property sales, reached ARS 14,477 million, growing by 54, 1% in the
year.
- The net result for fiscal year 2021 showed a loss of
ARS 22,537 million, mainly explained
by a loss of ARS 13,946 million due
to changes in the fair value of investment properties and the
impact of the change in the rate, from 25% to 35%, in deferred
income tax.
- During fiscal year 2021 we sold approximately 29,700 sqm of
premium offices for a total amount of USD
170.6 million and inaugurated "200 Della Paolera" building, the company's new
headquarters.
- In financial matters, this year we canceled Series IV notes for
a total amount of USD 140 million and
distributed a cash dividend in the amount of ARS 9,700 million.
Financial Highlights
(In millions of Argentine
Pesos)
FY 2021
Income
Statement
|
06/30/2021
|
06/30/2020
|
Revenues from sales,
leases and services
|
8,092
|
12,860
|
Consolidated Gross
Profit
|
6,581
|
11,373
|
Consolidated (Loss) /
Profit from Operations
|
(10,615)
|
46,230
|
Loss for the
Period
|
(22,537)
|
27,266
|
|
|
|
Attributable
to:
|
|
|
IRSA CP's
Shareholders
|
(21,933)
|
25,668
|
Non-Controlling
interest
|
(604)
|
1,598
|
|
|
|
EPS
(Basic)
|
(40.52)
|
47.43
|
EPS
(Diluted)
|
(40.52)
|
47.43
|
|
|
|
Balance
Sheet
|
06/30/2021
|
06/30/2020
|
Current
Assets
|
22,652
|
22,417
|
Non-Current
Assets
|
154,752
|
194,625
|
Total
Assets
|
177,404
|
217,042
|
Current
Liabilities
|
13,122
|
24,666
|
Non-Current
Liabilities
|
86,269
|
78,863
|
Total
Liabilities
|
99,391
|
103,529
|
Non-Controlling
Interest
|
5,549
|
6,143
|
Shareholders'
Equity
|
78,013
|
113,513
|
IRSA Propiedades Comerciales cordially invites you to
participate in the FY 2021 Results Conference Call on Friday, September 3, 2021, at 01:00 p.m. US EST, 02:00
p.m. BA.
To access the
Webinar:
https://irsacorp.zoom.us/j/84830687731?pwd=REdKNGJTUnhubXk4VlpVUDdoMzFSUT09
Webinar ID: 848 3068 7731
Password: 504549
In addition, you can participate communicating to this
numbers:
Argentina: +54
112 040 0447 or +54 115 983 6950 or +54 341 512 2188 or +54 343 414
5986
Israel: +972 3 978 6688 or +972
55 330 1762
Brasil : +55 11 4700 9668 or +55 21 3958 7888 or +55 11 4632
2236 or +55 11 4632 2237 or +55 11 4680 6788
Estados Unidos de América: +1 312 626 6799 or +1 346 248 7799 or
+1 646 558 8656 or +1 669 900 9128 or +1 253 215 8782 or +1 301 715
8592
Chile: +56 232 938 848 or +56
41 256 0288 or +56 22 573 9304 or +56 22 573 9305 or +56 23 210
9066
Investor Relations Department
+ 5411 4323-7449
ir@irsacp.com.ar
https://www.irsacp.com.ar/home-inversores.php?lng=en
Follow us on Twitter @irsacpir
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SOURCE IRSA Propiedades Comerciales S.A.