BUENOS AIRES, Argentina,
Nov. 9, 2017 /PRNewswire/
-- IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA:
IRSA), the leading real estate company in Argentina, today announces its results for the
first quarter of FY 2018 Ended September 30,
2017.
HIGHLIGHTS
- Adjusted EBITDA for the first quarter of FY 2018 reached
ARS 3,215 million (ARS 707 million from Argentina and ARS 2,508
million from Israel),
increasing by 28.4% compared to IQ17.
- Net result for IQ18 registered a gain of ARS 74 million compared to a gain of ARS 344 million in IQ17 mainly explained by a non
cash loss of ARS 2.228 million coming
from Israel Business Center as a result of a partial debt exchange
at Discount Corporation Ltd. level.
- Tenant Sales in our malls grew by 22.5% in IQ18 while the
average rent per sqm of the office portfolio reached USD/sqm 26.8.
EBITDA of the rental segment increased by 26.1% in the compared
quarter.
- We reached 98.8% occupancy in our shopping malls, 96.2%
occupancy in our offices and 68.4% in our hotels' portfolio.
- In October 31, 2017, our Annual
Shareholders' meeting has approved the distribution of a cash
dividend for the sum of ARS 1,400
million (ARS/share 2.4191 and ARS/ADR 24.1931) that will be
made available for shareholders on November
14, 2017.
- In October 2017, we have sold in
the secondary market 10.2 million shares of IRSA Commercial
Properties for a total amount of USD 138.2
million.
Financial
Highlights (In millions of Argentine Pesos)
IQ18
Ended September 30, 2017
|
|
Income
Statement
|
09/30/2017
|
09/30/2016
(adjusted)
|
Revenues
|
20,213
|
17,787
|
Consolidated Gross
Profit
|
6,486
|
5,461
|
Net result from
changes in the fair value of investment properties
|
3,404
|
1,396
|
Consolidated Profit
from Operations
|
5,358
|
2,767
|
Profit / (Loss) For
the Period
|
74
|
344
|
|
|
|
Attributable
to:
|
|
|
IRSA's
Shareholders
|
553
|
200
|
Non-Controlling
interest
|
(479)
|
144
|
|
|
|
EPS
(Basic)
|
0.96
|
0.35
|
EPS
(Diluted)
|
0.96
|
0.35
|
|
|
|
Balance
Sheet
|
09/30/2017
|
06/30/2016
(adjusted)
|
Current
Assets
|
72,209
|
65,492
|
Non Current
Assets
|
167,145
|
165,750
|
Total
Assets
|
239,351
|
231,242
|
Current
Liabilities
|
44,038
|
46,434
|
Non Current
Liabilities
|
148,410
|
137,472
|
Total
Liabilities
|
192,448
|
183,906
|
Non-Controlling
Interest
|
20,799
|
21,472
|
Shareholders'
Equity
|
46,906
|
47,336
|
IRSA Inversiones y Representaciones S.A. (NYSE: IRS, BYMA: 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 and owns three
luxury hotels Additionally, IRSA owns a stake in Banco Hipotecario,
Argentina's largest mortgage
supplier in the country as well as international opportunistic
investments in real estate and other assets, including 68.3% stake
in the largest conglomerate of Israel, IDB Development Corporation.
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 IQ 2018 Results
Conference Call on Tuesday, November 14,
2017, at 8:00 AM Eastern
Time.
If you would like to participate, please call:
United States: (844) 308-3343
International: +1-(412) 717-9602
ID# IRSA
To access the webcast, click on the link below:
http://webcast.engagex.com/Cover.aspx?PlatformId=VSF1Aaz%2FV%2BMOar3t1uu8jg%3D%3D
www.irsa.com.ar
Follow us on Twitter @irsair
View original
content:http://www.prnewswire.com/news-releases/irsa-inversiones-y-representaciones-sa-announces-results-for-the-first-quarter-of-fy-2018-ended-september-30-2017-300553331.html
SOURCE IRSA Inversiones y Representaciones S.A.