BUENOS AIRES, Argentina,
Nov. 11, 2014 /PRNewswire/
-- IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BASE:
IRSA), the leading real estate company in Argentina, today announces its results for the
first three months of Fiscal Year 2015 Ended September 30, 2014
HIGHLIGHTS
- Our net result for the first three month of 2015 was
ARS 135.8 million compared to a gain of ARS 2.9 million in the same quarter of 2014.
- The company's EBITDA increased 140.3% in the first quarter of
2015, mainly explained by improved results in our rental segment
and better results from the sale of Investment Properties,
including Madison 183 and two floors of the building Maipu
1300.
- Tenant Sales in our shopping centers increased by 27.1% in the
quarter and the portfolio occupancy stood at 98.5%.
- We made progress in the development of the "Alto Comahue"
shopping center in Neuquen, which we expect to open during the
current fiscal year, and we are waiting for the final legal
resolution to open "Distrito Arcos". Moreover, we have recently
acquired a land reserve in Lujan for USD 2.4 per sqm, intended
for a future real estate development.
- We increased occupancy in our Premium office portfolio to
97.9%.
- On September 29, 2014, we closed
the sale of Madison 183 building for USD 185
million.
|
Financial
Highlights
(In millions of Argentine Pesos)
Three month period 3M 2015
Ended September 30, 2014
|
|
|
Income
Statement
|
09/30/2014
|
09/30/2013
|
|
Revenues
|
790.1
|
621.4
|
|
Consolidated Gross
Profit
|
436.6
|
327.7
|
|
Consolidated Profit
from Operations
|
640.1
|
229.1
|
|
Profit/(Loss) For the
Period
|
135.8
|
35.3
|
|
|
|
|
Attributable
to:
|
|
|
|
IRSA's
Shareholders
|
3.3
|
32.4
|
|
Non-Controlling
interest
|
132.5
|
2.9
|
|
|
|
|
EPS
(Basic)
|
0.01
|
0.06
|
|
EPS
(Diluted)
|
0.01
|
0.06
|
|
|
|
|
Balance
Sheet
|
09/30/2014
|
06/30/2014
|
|
Current
Assets
|
2,253.5
|
2,959.0
|
|
Non Current
Assets
|
7,349.6
|
6,851.1
|
|
Total
Assets
|
9,603.1
|
9,810.1
|
|
Current
Liabilities
|
2,060.7
|
2,419.4
|
|
Non Current
Liabilities
|
4,799,4
|
4,513.2
|
|
Total
Liabilities
|
6,860.2
|
6,932.7
|
|
Non-Controlling
Interest
|
679.8
|
592.8
|
|
Shareholders'
Equity
|
2,742.9
|
2,877.4
|
IRSA Inversiones y Representaciones S.A. (NYSE: IRS, BASE: 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 (specializing in
high-rises and loft-style conversions) and owns three luxury
hotels. Its solid, diversified portfolio of properties has
established the Company as the leader in the sector in which it
participates, making it the best vehicle to access the Argentine
real estate market. Additionally, IRSA owns a stake in Banco
Hipotecario, Argentina's largest
mortgage supplier in the country.
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 First
three-month 2015 Results Conference Call on Wednesday, November 12, 2014, at 1:00 PM Eastern Time
If you would like to participate, please call:
United States: (888) 734-0544
International: +1-706-758-3363
Argentina: 0-800-666-0273
ID# 21477735
To access the webcast, click on the link below:
http://webcast.neo1.net/Cover.aspx?PlatformId=rWbDUWtJ0TrEXA2bdhUdqQ%3D%3D
Investor Relations Department
IRSA Inversiones y Representaciones S.A.
+54-11-4323-7449
ir@irsa.com.ar
SOURCE IRSA Inversiones y Representaciones S.A.