IRSA Inversiones y Representaciones S.A. Announces Results for the First nine months 2013 Ended March, 2013

PR Newswire

BUENOS AIRES, Argentina, May 17, 2013 /PRNewswire/ -- IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BASE: IRSA), the leading real estate company in Argentina, today announces its results for the first nine month of Fiscal Year 2013 Ended March 31, 2013

HIGHLIGHTS

  • Net income for the first nine months of 2013 was ARS 379.3 million increasing 94.0% compared to the same period of last year.
  • For the first nine months of 2013, IRSA's revenues increased by 20.7% to ARS 1,604.1 million, and EBITDA grew 36.3% to ARS 912.4 million.
  • Revenues and EBITDA from the Shopping Centers segment grew 22.0% and 18.8%, respectively, in the nine-month period of fiscal year 2013 as compared to 2012. Tenant sales grew 24.8% during the period and the portfolio occupancy stood at 98.7%.
  • The offices segment shows an improvement in the occupancy to 97.3%.

 

 

Financial Highlights
(In millions of Argentine Pesos)
Nine month period 9M 2013
Ended March 31, 2013

 

Income Statement

03/31/2013

03/31/2012

Revenues

1,604.1

1,328.5

Consolidated Gross Profit

802.9

691.3

Consolidated Profit from Operations

749.7

540.7

Profit / (Loss) For the Period

379.3

195.5




Attributable to:



IRSA's Shareholders

320.6

176.6

Non-Controlling interest

58.6

18.8




EPS (Basic)

0.554

0.305

EPS (Diluted)

0.554

0.305




Balance Sheet

03/31/2013

06/30/2012

Current Assets

1,242.8

839.3

Non Current Assets

6,868.0

6,050.3

Total Assets

8,110.9

6,889.6

Current Liabilities

1,527.7

1,205.7

Non Current Liabilities

3,258.9

2,644.1

Total Liabilities

4,786.6

3,849.8

Non-Controlling Interest

505.5

390.4

Shareholders' Equity

2,818.8

2,649.3

 

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. Its solid, diversified portfolio of properties has established the Company as the leader in the sector in which it participates, making it the best vehicle to access the Argentine real estate market. Additionally, IRSA owns a stake in Banco Hipotecario, Argentina's largest mortgage supplier in the country.

A longer version of this press release with detailed information is available on the web site: http://www.irsa.com.ar

IRSA cordially invites you to participate in its First nine month 2013 Results Conference Call on Tuesday, May 21, 2013, at 2:00 PM Eastern Time

If you would like to participate, please call:
United States:  (888) 734-0544
International:  +1-(706) 758-3363
ID# 48225830

To access the webcast, click on the link below:

http://webcast.mzvaluemonitor.com/Cover.aspx?PlatformId=1219

Investor Relations Department
IRSA Inversiones y Representaciones S.A.
ir@irsa.com.ar

View Comments