BUENOS AIRES, Argentina,
Feb. 10, 2015 /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 six months of Fiscal Year 2015 Ended December 31, 2014
HIGHLIGHTS
- Our net result for the first six month of 2015 was
ARS 46.9 million compared to a loss of ARS 26.1 million in the same quarter of
2014.
- The company's EBITDA increased 179.1% in the first semester of
2015, mainly explained by improved results in our rental segment
and better results from the sale of Investment Properties,
including Madison 183 and various floors of the buildings
Bouchard Plaza & Maipu 1300.
Excluding this effect and the reversion of the conversion reserve
for Madison Sale, EBITDA grew by
26.1%.
- During this quarter we opened our 14th shopping mall, "Distrito
Arcos" and we made progress in the development of Alto Comahue
Shopping in Neuquen, which we expect to open next March.
- Tenant same stores sales in our shopping centers increased by
35.1% in the second quarter and the portfolio occupancy stood at
98.5%.
- We increased occupancy in our Premium office portfolio to
98.4%.
- During December 2014, we
transferred to our subsidiary IRSA Commercial Properties 83,789 sqm
of our premium office portfolio in order to create a pure
commercial real estate vehicle in Argentina.
- During the semester, we recognized results from Investment
Properties Sales for the sum of ARS 801.1
million.
- As a subsequent event, we have approved an additional
investment in IDBD for the sum of up to USD
105 million.
|
Financial
Highlights
(In millions of Argentine Pesos)
Six month period 6M 2015
Ended December 31, 2014
|
|
|
|
|
Income
Statement
|
12/31/2014
|
12/31/2013
|
|
Revenues
|
1,720.2
|
1,374.0
|
|
Consolidated Gross
Profit
|
969.4
|
732.1
|
|
Consolidated Profit
from Operations
|
1,591.7
|
527.1
|
|
Profit / (Loss) For
the Period
|
46.9
|
(26.1)
|
|
|
|
|
Attributable
to:
|
|
|
|
IRSA's
Shareholders
|
4.5
|
(21.7)
|
|
Non-Controlling
interest
|
42.4
|
(4.4)
|
|
|
|
|
EPS
(Basic)
|
0.008
|
0.04
|
|
EPS
(Diluted)
|
0.008
|
0.04
|
|
|
|
|
Balance
Sheet
|
12/31/2014
|
06/30/2014
|
|
Current
Assets
|
2,437.8
|
2,959.0
|
|
Non Current
Assets
|
6,867.2
|
6,851.1
|
|
Total
Assets
|
9,305.1
|
9,810.1
|
|
Current
Liabilities
|
2,585.6
|
2,419.4
|
|
Non Current
Liabilities
|
4,491,3
|
4,834,1
|
|
Total
Liabilities
|
7,076.9
|
7,253.5
|
|
Non-Controlling
Interest
|
347.5
|
548.4
|
|
Shareholders'
Equity
|
2,228.2
|
2,556.6
|
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 six-month
2015 Results Conference Call on Tuesday,
February 10, 2015, at 08:00 AM
Eastern Time
If you would like to participate, please call:
United States: (888) 841-3494
International: +1 (706) 758-3350
Argentina: 0-800-666-0273
ID# 82793991
To access the webcast, click on the link below:
http://webcast.neo1.net/Cover.aspx?PlatformId=xaOhXZXDYWdPl8jlUROEMw%3D%3D
Investor Relations Department
IRSA Inversiones y Representaciones S.A.
ir@irsa.com.ar
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/irsa-inversiones-y-representaciones-sa-announces-results-for-the-first-six-months-2015-ended-december-31-2014-300033503.html
SOURCE IRSA Inversiones y Representaciones S.A.