IRSA Inversiones y Representaciones S.A. Announces Results for the Fiscal Year 2015 Ended June 30, 2015

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

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.
[email protected] 
www.irsa.com.ar 
Tel: +5411-4323-7449
Follow us on Twitter: @irsair

SOURCE IRSA Inversiones y Representaciones S.A.

Related Links

http://www.irsa.com.ar