BUENOS AIRES, Argentina,
Nov. 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
first three months of Fiscal Year 2016 Ended September 30, 2015
HIGHLIGHTS
- Net loss for the first quarter of fiscal year 2016 was
ARS 316.0 million compared to income
for ARS 135.9 million in the same
period of 2015, mainly due to the change in the valuation method
applied with respect to our investment in IDB Development
Corporation.
- Revenues from sales, leases and services grew 21.2% as compared
to the first quarter of 2015, whereas EBITDA rose 14.0%, reaching
ARS 778.6 million.
- Tenant sales in our shopping centers rose 44.5% during the
quarter (36.3% considering the same shopping centers) and portfolio
occupancy was 98.9%.
- During this quarter we sold investment properties for
ARS 424.9 million. After period-end,
we sold 2 office floors in Maipu 1300 building, located in the
City of Buenos Aires, for
USD 3.0 million.
Financial
Highlights (In millions of Argentine Pesos)
Three month period 3M 2016
Ended September 30, 2015
|
|
Income
Statement
|
09/30/2015
|
09/30/2014
|
Revenues
|
968.5
|
790.1
|
Consolidated Gross
Profit
|
533.4
|
436.6
|
Consolidated Profit
from Operations
|
724.0
|
640.1
|
Profit / (Loss) For
the Period
|
(316.0)
|
135.8
|
|
|
|
Attributable
to:
|
|
|
IRSA's
Shareholders
|
(275.7)
|
3.3
|
Non-Controlling
interest
|
(40.3)
|
132.5
|
|
|
|
EPS
(Basic)
|
(0.48)
|
0.01
|
EPS
(Diluted)
|
(0.48)
|
0.01
|
|
|
|
Balance
Sheet
|
09/30/2015
|
06/30/2015
|
Current
Assets
|
2,694.3
|
1,896.8
|
Non Current
Assets
|
7,955.4
|
8,346.7
|
Total
Assets
|
10,649.7
|
10,243.5
|
Current
Liabilities
|
2,693.7
|
2,689.9
|
Non Current
Liabilities
|
5,374.2
|
4,682.4
|
Total
Liabilities
|
8,068.4
|
7,372.3
|
Non-Controlling
Interest
|
351.8
|
396.9
|
Shareholders'
Equity
|
2,581.3
|
2,871.2
|
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 as well as international
opportunistic investments in real estate and other assets.
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 2016 Results Conference Call on Thursday, November 12, 2015, at 8:00 AM Eastern Time
If you would like to participate, please call:
United States: (888) 734-0544
International: +1-(706) 758-3363
ID# 63890052
To access the webcast, click on the link below:
http://webcast.neo1.net/Cover.aspx?PlatformId=PM4Ta1wgHaCiiF20u1oq5A%3D%3D
Investor Relations Department
IRSA Inversiones y Representaciones S.A.
+5411-4323-7449
ir@irsa.com.ar
www.irsa.com.ar
Follow us on Twitter @irsair
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SOURCE IRSA Inversiones y Representaciones S.A.