BUENOS AIRES, Argentina, Feb. 10, 2020 /PRNewswire/ -- IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP; ByMA: IRCP), the leading commercial real estate company in Argentina, announces its results for the second quarter of the FY 2020 ended December 31, 2019.
- Net result for the first half of fiscal year 2020 registered a loss of ARS 250 million compared to a loss of ARS 6,426 million in the same period of 2019. This lower loss is explained by higher operating results and changes in the fair value of investment properties and a loss in net financial results, mainly due to exchange rate differences.
- The Company's Adjusted EBITDA for the first half of fiscal year 2020 reached ARS 3,459 million, decreasing in real terms by 9.1% compared to the same period of 2019. Adjusted EBITDA for Shopping Malls decreased by 18.7% while Adjusted EBITDA for Office segment increased by 36.8%.
- Our same Shopping Malls Sales grew by 0.4% in real terms for the first half of fiscal year 2020 and by 5.6% for the second quarter when compared to the same period of 2019 and the portfolio's occupancy rate reached 95.0%.
- On November 13, 2019, the Company distributed among its shareholders a cash dividend in an amount of ARS 595,000,000 (ARS/Share 4.7217 y ARS/ADR 18.8868).
(In millions of Argentine Pesos)
6M FY 2020
Revenues from sales, leases and services
Consolidated Gross Profit
Consolidated Profit / (Loss) from Operations
Profit / (Loss) For the Period
IRSA CP's Shareholders
IRSA Propiedades Comerciales cordially invites you to participate in the IIQ FY 2020 Results Conference Call on Tuesday, February 11, 2020 at 12:00 p.m. US EST, 02:00 p.m. BA.
If you would like to participate, please call:
1-844-717-6831 (toll free) or
Conference ID # IRSA CP
To access the webcast:
Investor Relations Department
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SOURCE IRSA Propiedades Comerciales S.A.