IRCP), the leading commercial real estate company in Argentina, announces its results for the second quarter of the FY 2021 ended December 31, 2020

Buenos Aires, Argentina, February 9, 2021 / PRNewswire / –

HIGHLIGHTS

  • The net result for the first half of the 2021 financial year recorded an increase of ARS 5.285 million compared to a loss of ARS 341 million in the same period in 2020, mainly explained by higher results due to changes in the fair value of investment property and higher net financial results.
  • Adjusted EBITDA achieved ARS 8.883 million in the first half of the 2021 financial year increased by 90.7% compared to 2020, which is mainly due to the Sales and Developments segment, whose EBITDA was achieved 7,393 million ARS as a result of the sale of the Bouchard 710 buildings and the Boston Tower. The adjusted EBITDA of the rental segments reached ARS 1,641 millionThis corresponds to a decrease of 66% compared to the same period of the previous year.
  • Tenant sales in shopping centers declined in real terms by 11.4% in the second quarter of the financial year 2021 compared to the same period of the previous year and, given the reopening of the shopping centers, recorded a recovery compared to the previous quarters October 2020. The utilization of the portfolio was reduced to 88.3%.
  • With regard to the office segment in December 2020we added the “261 Della Paolera“Building, the company’s new headquarters, to the portfolio. The building is 74.6% occupied.
  • In the first half of 2021 we sold around 29,654 m² of office space for a total of $ 170.6 million.
  • On November 25, 2020We paid out a cash dividend of ARS 9.7 billion.

Financial highlights

(In millions of Argentine pesos)

6M FY 2021

Profit and Loss Account

December 31, 2020

December 31, 2019

Revenue from sales, leasing and services

3.094

6.814

Consolidated gross profit

2.529

6.156

Consolidated operating profit

4.079

7.633

Profit for the period

5.285

(341)




Attributable to:



Shareholders of IRSA CP

4,761

(519)

Non-controlling interests

524

178




EPS (Basic)

0.09

(4.12)

EPS (diluted)

0.09

(4.12)




Balance sheet

December 31, 2020

06/30/2020

Current assets

12,621

17,889

Capital assets

146.764

155,300

Total assets

159.385

173.189

Short term liabilities

10.169

19,682

Long-term liabilities

63,686

62,932

Total liabilities

73,855

82,614

Non-controlling interests

5.412

4.901

Equity

85,530

90,575

IRSA Propiedades Comerciales cordially invites you to participate in the conference call on the results of the IIQ FY 2021 Wednesday February 10, 2021 at the 9 am WE ARE, 11:00 o’clock BA.

How to access the webinar:
https://irsacorp.zoom.us/j/83823965976?pwd=Rit3enJqY05KN2I3SklDcEZrdXRRdz09
Webinar ID: 838 2396 5976
Password: 967854

In addition, you can participate in communication using these 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

Brazil: +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
[email protected]
https://www.irsacp.com.ar/home-inversores.php?lng=de
Follow us on Twitter @irsacpir

SOURCE IRSA Propiedades Comerciales SA

related links

http://www.irsacp.com.ar