BUENOS AIRES, Argentina,
May 11, 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
Nine month period of Fiscal Year 2015 Ended March 31, 2015
HIGHLIGHTS
- Our net result for the nine-month period of 2015 was a loss of
ARS 163.4 million compared to a loss of ARS 78.8 million in the same period of 2014.
- The company's EBITDA increased 99.7% in the nine-month period
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
19.1%.
- During this quarter we opened our 15th shopping mall, "Alto
Comahue" in the city of Neuquen and we observed good results from
the first quarter of operation of "Distrito Arcos" in Buenos Aires city.
- Tenant sales in our shopping centers increased by 35.4% in the
third quarter and 31.3% considering same stores sales. The
portfolio occupancy stood at 98.5%.
- The occupancy in our Premium office portfolio stood at
98.4%.
- In February 2015, we made an
additional investment in IDBD for the sum of USD 105 million in the process of rights offering
launched by the company, increasing our indirect stake in IDBD to
49%.
- As a subsequent event, we sold, through our subsidiary IRSA
Propiedades Comerciales S.A, 8,470 sqm of "Intercontinental Plaza"
Building for a total amount of ARS 376.4
million. Results will be recognized with the sign of the
deed expected for next July.
|
Financial
Highlights
|
|
(In millions of
Argentine Pesos)
|
|
Nine month period 9M
2015
|
|
Ended March 31,
2015
|
|
|
|
|
Income
Statement
|
03/31/2015
|
03/31/2014
|
|
Revenues
|
2,509.0
|
2,022.2
|
|
Consolidated Gross
Profit
|
1,399.8
|
1,095.7
|
|
Consolidated Profit
from Operations
|
1,866.7
|
888.8
|
|
Profit / (Loss) For
the Period
|
(163.4)
|
(78.8)
|
|
|
|
|
Attributable
to:
|
|
|
|
IRSA's
Shareholders
|
(244.7)
|
(92.0)
|
|
Non-Controlling
interest
|
81.3
|
13.2
|
|
|
|
|
EPS
(Basic)
|
(0.426)
|
(0.160)
|
|
EPS
(Diluted)
|
(0.426)
|
(0.160)
|
|
|
|
|
|
|
|
Balance
Sheet
|
03/31/2015
|
06/30/2014
|
|
Current
Assets
|
1,690.0
|
2,959.0
|
|
Non Current
Assets
|
7,572.4
|
6,851.1
|
|
Total
Assets
|
9,262.4
|
9,810.1
|
|
Current
Liabilities
|
2,584.2
|
2,419.4
|
|
Non Current
Liabilities
|
4,628,5
|
4,834,1
|
|
Total
Liabilities
|
7,212.7
|
7,253.5
|
|
Non-Controlling
Interest
|
373.9
|
548.4
|
|
Shareholders'
Equity
|
2,049.7
|
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 Nine-month 2015
Results Conference Call on Tuesday, May 12,
2015, at 10:00 AM Eastern
Time
If you would like to participate, please call:
United States: (888) 734-0544
International: +1-(706) 758-3363
Argentina: 0-800-666-1537
ID# 36553025
To access the webcast, click on the link below:
http://webcast.neo1.net/Cover.aspx?PlatformId=63YVn7HZ%2FYyH7zSRWfBcgg%3D%3D
Investor Relations Department
IRSA Inversiones y Representaciones S.A.
Te: +54 11 4323-7449
ir@irsa.com.ar
www.irsa.com.ar
Twitter: @irsair
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/irsa-inversiones-y-representaciones-sa-announces-results-for-the-nine-month-period-of-fy-2015-ended-march-31-2015-300080823.html
SOURCE IRSA Inversiones y Representaciones S.A.