BUENOS AIRES, Argentina, Feb. 8, 2018 /PRNewswire/ -- IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP; MERVAL: IRCP), the leading commercial real estate company in Argentina, announces today its results for the second quarter of FY 2018 ended December 31, 2017.

HIGHLIGHTS

  • Net income for 6M18 reached ARS 11,582.8 million compared to ARS 2,085.7 million in 6M17 mainly explained by higher results from changes in the fair value of investment properties due to the impact of the Argentine tax reform and the effects on the exchange rate on them.
  • The Company's Adjusted EBITDA for 6M18 reached ARS 1,559.1 million, 19.2% higher than the same period of 2017. Adjusted EBITDA of Malls' and Office segment reached ARS 1,381.4 million and ARS 191.9 million, respectively.
  • Our shopping centers' sales grew by 22.6% in 6M18 vs. 6M17 and occupancy increased to 99.1%.
  • In October, our parent Company IRSA has sold 10,24 mm shares of the company for ~ USD 138.2 million increasing the float from 5.4% to 13.5%.
  • During November 2017 the Company has distributed to its Shareholders a cash dividend for a total amount of ARS 680 million (ARS/share 5.3962 and ARS/ADR 21.5848).

 

Financial Highlights
(In millions of Argentine Pesos)
IIQ18
Ended December 31, 2017


Income Statement

12/31/2017

12/31/2016

Revenues from sales, leases and services

2,055.7

1,679.6

Consolidated Gross Profit

1,852.7

1,509.3

Consolidated Profit from Operations

11,407.9

3,537,6

Profit / (Loss) For the Period

11,582.8

2,085.7




Attributable to:



IRSA CP's Shareholders

11,242.1

2,002.9

Non-Controlling interest

340.8

82.7




EPS (Basic)

89.21

15.89

EPS (Diluted)

89.21

15.89




Balance Sheet

12/31/2017

06/30/2017

Current Assets

7,435.4

4,515.3

Non Current Assets

48,466.8

37,906.2

Total Assets

55,902.2

42,421.5

Current Liabilities

1,719.5

1,800.7

Non Current Liabilities

20,263.6

17,604.6

Total Liabilities

21,983.1

19,405.3

Non-Controlling Interest

1,211.9

871.2

Shareholders' Equity

33,919.1

23,016.2

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 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 IIQ 2018 Results Conference Call on Friday, February 9, 2018 at 08:00 a.m. US EST.

If you would like to participate, please call: 
1-844-308-3343 (toll free) ó 
1-412-717-9602 (international) 
Conference ID # IRSA CP

To access the webcast, click on the link below:

http://webcast.engage-x.com/Cover.aspx?PlatformId=ltoopVrxsb2plHDwIwshOg%3D%3D

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

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SOURCE IRSA Propiedades Comerciales S.A.


Source: IRSA Propiedades Comerciales S.A.