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IRSA Propiedades Comerciales S.A. announces Results for the first quarter of the FY 2020 Ended September 30, 2019

BUENOS AIRES, Argentina, Nov. 7, 2019 /PRNewswire/ -- IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP; ByMA: IRCP), the leading commercial real estate company in Argentina, announces its results for the first quarter of the FY 2020 ended September 30, 2019.

HIGHLIGHTS

  • Net result for IQ20 registered a gain of ARS 2,259 million compared to a gain of ARS 3,489 million in IQ19. This is mainly explained by lower results from changes in fair value of investment properties during this period.
  • The Company's Adjusted EBITDA for IQ20 reached ARS 1,484 million, decreasing in real terms by 2.6% compared to IQ19. Adjusted EBITDA for Shopping Malls decreased by 14.5% while Adjusted EBITDA for Office segment increased by 67.6%.
  • Our same Shopping Malls Sales grew by 46.2% in nominal terms (-5.1% in real terms) in IQ20 compared to IQ19 and the portfolio's occupancy rate reached 94.3%.
  • On October 30, our Shareholders' meeting approved a cash dividend for the sum of ARS 595 million (ARS/share 4.7217 and ARS/ADR 18.8868). Dividend yield 2.6%.

   

Financial Highlights


(In millions of Argentine Pesos)

IQ FY 2020

Ended September 30, 2019




Income Statement

09/30/2019

09/30/2018

Revenues from sales, leases and services

2,035.8

2,141.9

Consolidated Gross Profit

1,827.5

1,909.0

Consolidated Profit from Operations

7,709.8

8,642.9

Profit / (Loss) For the Period

2,259.4

3,489.2




Attributable to:



IRSA CP's Shareholders

2,002.6

2,804.7

Non-Controlling interest

256.8

684.5




EPS (Basic)

15.89

22.26

EPS (Diluted)

15.89

22.26




Balance Sheet

09/30/2019

06/30/2019

Current Assets

18,250.3

19,339.2

Non-Current Assets

80,849.8

71,809.2

Total Assets

99,100.1

91,148.4

Current Liabilities

12,391.4

4,563.9

Non-Current Liabilities

38,747.1

40,882.2

Total Liabilities

51,138.5

45,446.1

Non-Controlling Interest

2,708.0

2,451.2

Shareholders' Equity

47,961.6

45,702.2

 

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 and mixed-use 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 FY 2020 Results Conference Call on Monday, November 11, 2019 at 10:00 a.m. US EST, 12:00 p.m. BA.

If you would like to participate, please call: 
1-844-717-6831 (toll free) or
1-412-317-6388 (international)
Conference ID # IRSA CP

To access the webcast, click on the link below:
https://webcastlite.mziq.com/cover.html?webcastId=19f41356-aee2-43c3-aa24-d54d2050b8e9

Investor Relations Department
+ 5411 4323-7449
ir@irsacp.com.ar 
www.irsacp.com.ar 
Follow us on Twitter @irsacpir

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