IRCP), the leading commercial real estate company in Argentina, announces its results for the third quarter of the FY 2021 ended March 31, 2021.

BUENOS AIRES, Argentina, May 7, 2021 / PRNewswire / –

HIGHLIGHTS

  • Net income for the nine-month period of Fiscal Year 2021 recorded a loss of ARS 4,794 million compared to a loss of ARS 2,384 million for the same period in 2020, mainly due to the negative result due to the change in the fair value of the property, which partially offset by higher net financial results.
  • Adjusted EBITDA reached ARS 12,321 million in the nine-month period 2021, up 65.7% from 2020. This is mainly due to the Sales and Developments segment, whose EBITDA reached ARS 9,104 million from sales of the Bouchard 710 building and the Boston Tower. The adjusted EBITDA of the rental segments reached ARS 3,394 million, a decrease of 55% compared to the same period of the previous year.
  • In the third quarter of the 2021 financial year, tenant sales in shopping centers rose by 0.4% in real terms compared to 2020. With the exception of the second half of March, when shopping centers were partially or fully closed in 2020, the deviation went back to a decrease of 20.5%.
  • The occupancy of the portfolio of the shopping centers reached 89.5%, while that of the A + and A offices reached 81.2%, which compared to the previous quarter due to the new building “200 Della Paolera”, whose occupancy rate was 74.6% rose in December, increased slightly in 2020 to 76.9% in March 2021.
  • As a result, the national government ordered, among other things, the closure of shopping centers in the metropolitan area of ​​Buenos Aires from April 16 to May 21 inclusive, among other things in connection with the COVID-19 pandemic. Therefore, 44% of the portfolio remains functional to this day.

Financial highlights

(In millions of Argentine pesos)

9M FY 2021

Profit and Loss Account

March 31, 2021

March 31, 2020

Revenue from sales, leasing and services

5.668

10,470

Consolidated gross profit

4,720

9.425

Consolidated (Loss) / Income from Operations

(8,316)

8,082

Loss for the period

(4,794)

(2,384)

Attributable to:

Shareholders of IRSA CP

(4,780)

(2,515)

Non-controlling interests

(14)

131

EPS (Basic)

(8.83)

(19.96)

EPS (diluted)

(8.83)

(19.96)

Balance sheet

March 31, 2021

06/30/2020

Current assets

14,705

20.205

Capital assets

152.621

175.413

Total assets

167.326

195,618

Short term liabilities

14,178

22,232

Long-term liabilities

67,300

71,080

Total liabilities

81.478

93.312

Non-controlling interests

5.506

5.535

Equity

85,848

102,306

IRSA Propiedades Comerciales cordially invites you to join the conference call on IIIQ Fiscal Year 2021 results on Monday, May 10, 2021 at 10:00 a.m. US EST, 11:00 a.m. BA.

To access the webinar: https://irsacorp.zoom.us/j/84685263640?pwd=SnRlcHhncFQ4MUF6aXoyS2QxTXpCUT09 Webinar ID: 846 8526 3640 Password: 485277

In addition, you can participate in communication using the following 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 [email protected] https://www.irsacp.com.ar/home-inversores.php?lng=en Follow us on Twitter @irsacpir

View original content: http://www.prnewswire.com/news-releases/irsa-propiedades-comerciales-sa-nasdaq-ircp-byma-ircp-the-leading-commercial-real-estate-company-in-argentina- there announced its results for the third quarter of fiscal 2021, which ended March 31, 21-2021-301286757.html

SOURCE IRSA Propiedades Comerciales SA