IRSA Inversiones y Representaciones S.A. Announces Results for the First three months 2016 Ended September, 2015

11 Nov, 2015, 20:23 ET from IRSA Inversiones y Representaciones S.A.

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

SOURCE IRSA Inversiones y Representaciones S.A.



RELATED LINKS

http://www.irsa.com.ar