BUENOS AIRES, Argentina,
Sept. 7, 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
Fiscal Year 2015 Ended June 30,
2015.
HIGHLIGHTS
- Net Gain of FY 2015 reached ARS 650,6
million mainly explained by better Operating results of our
rental segments, higher sales of investment properties, lower
financial losses explained by a lower devaluation and lower losses
of our investment in IDBD, valued at fair value.
- Revenues increased by 19,6% in 2015 compared to 2014 and EBITDA
increased by 91,5%, explained by better results in the rental
segment and higher sales of investment properties.
- We created IRSA Propiedades Comerciales, an exclusive
commercial real estate vehicle in Argentina with more than 430.000 leasable sqm
of shopping centers and offices in order to capture future growth
opportunities in the country.
- Tenant Sales in our shopping malls' segment increased by 33,3%
in 2015 compared to 2014 (30,1% considering same stores sales) and
portfolio occupancy reached 98,7%. EBITDA of this segment increased
by 31,2% reaching ARS 1,326.7
million.
- We opened this year 2 new shopping malls: Distrito Arcos
Premium Outlet in Buenos Aires
City and Alto Comahue in Neuquen city.
- We sold non-core office floors in Buenos Aires for a total amount of
ARS 982 million.
- Regarding the international segment, we sold Madison building
for an amount of USD 185 million and
we increased our investment in the israeli holding IDB Development
Corporation, reaching 49% stake of its shares outstanding.
Financial Highlights
(In millions of
Argentine Pesos)
Fiscal Year 2015
Ended June 30, 2015
|
Income
Statement
|
06/30/2015
|
06/30/2014
|
|
Revenues
|
3,402.6
|
2,845.2
|
|
Consolidated Gross
Profit
|
1,892.1
|
1,490.7
|
|
Consolidated Profit
from Operations
|
2,515.4
|
1,237.2
|
|
Profit / (Loss) For
the Period
|
650.6
|
(831.6)
|
|
|
|
|
Attributable
to:
|
|
|
|
IRSA's
Shareholders
|
520.2
|
(786.5)
|
|
Non-Controlling
interest
|
130.5
|
(45.1)
|
|
|
|
|
EPS
(Basic)
|
0.91
|
(1.37)
|
|
EPS
(Diluted)
|
0.90
|
(1.37)
|
|
|
|
|
Balance
Sheet
|
06/30/2015
|
06/30/2014
|
|
Current
Assets
|
1,904.3
|
2,959.0
|
|
Non Current
Assets
|
8,346.7
|
6,851.1
|
|
Total
Assets
|
10,251.0
|
9,810.1
|
|
Current
Liabilities
|
2,697.4
|
2,419.4
|
|
Non Current
Liabilities
|
4,682.4
|
4,834.1
|
|
Total
Liabilities
|
7,379.8
|
7,253.5
|
|
Non-Controlling
Interest
|
396.9
|
548.4
|
|
Shareholders'
Equity
|
2,871.2
|
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, through its
subsidiary IRSA Commercial Properties S,A, 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, 34% voting power of the US Reit
Condor Hospitality Trust and a 49% stake in IDB Development
Corporation.
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 Fiscal Year
2015 Results Conference Call on Tuesday,
September 08, 2014, at 4:00pm Eastern
Time
If you would like to participate, please call:
United States: (888) 734-0544
International: +1-(706) 758-3363
ID# 15833390
To access the webcast, click on the link below:
http://webcast.neo1.net/Cover.aspx?PlatformId=8J2gI80OxISM1z2rkseszA%3D%3D
Investor Relations Department
IRSA Inversiones y Representaciones S.A.
ir@irsa.com.ar
www.irsa.com.ar
Tel: +5411-4323-7449
Follow us on 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-fiscal-year-2015-ended-june-30-2015-300138839.html
SOURCE IRSA Inversiones y Representaciones S.A.