IRSA Propiedades Comerciales S.A. announces Results for the first three month period of FY 2017 Ended September 30, 2016
BUENOS AIRES, Argentina, Nov. 9, 2016 /PRNewswire/ -- IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP; MERVAL: IRCP), the leading commercial real estate company in Argentina, today announces its results for the three month period of FY 2017 ended September 30, 2016.
HIGHLIGHTS
- Net gain for the three month period of FY 2017 reached ARS 97.6 million compared to ARS 111.1 million in the same period of FY 2016.
- The Company's EBITDA reached ARS 561.6 million in the three-month period of 2017. Excluding the results from sales of investment properties, the EBITDA grew by 24.2% compared to the same period of 2016.
- Our shopping centers' sales grew by 21.0% in the three-month period of 2017 and the portfolio's occupancy rate stood at 98.4%.
- We reached 100% occupancy in our portfolio of Premium Offices.
- As a subsequent event, we announced a cash dividend payment of ARS 460 million, equivalent to ARS 0.3650 per ordinary share and ARS 14.6015 per ADR.
| Financial Highlights |
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| (In millions of Argentine Pesos) |
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| IQ 2017 |
||
| Ended September 30, 2016 |
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| Income Statement |
09/30/2016 |
09/30/2015 |
| Revenues from sales, leases and services |
768.4 |
590.5 |
| Consolidated Gross Profit |
627.6 |
484.0 |
| Consolidated Profit from Operations |
500.2 |
546.4 |
| Profit / (Loss) For the Period |
97.6 |
111.1 |
| Attributable to: |
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| IRSA CP's Shareholders |
78.9 |
103.0 |
| Non-Controlling interest |
18.7 |
8.1 |
| EPS (Basic) |
0.63 |
0.82 |
| EPS (Diluted) |
0.63 |
0.82 |
| Balance Sheet |
09/30/2016 |
06/30/2016 |
| Current Assets |
4,308 |
4,104 |
| Non Current Assets |
5,143 |
5,196 |
| Total Assets |
9,451 |
9,299 |
| Current Liabilities |
1,650 |
1,822 |
| Non Current Liabilities |
6,013 |
5,805 |
| Total Liabilities |
7,663 |
7,627 |
| Non-Controlling Interest |
218 |
181 |
| Shareholders' Equity |
1,788 |
1,672 |
IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP, MERVAL: IRCP) is the leading commercial real estate company of Argentina. It is the largest owner and manager of shopping malls and one of the largest office buildings' operators in terms of gross leasable area and number of rental properties. Additionally, IRCP owns a unique landbank for future commercial developments in Argentina.
A longer version of this press release with detailed information is available on the web site: http://www.irsacp.com.ar
IRSA Propiedades Comerciales S.A. cordially invites you to participate in its FY 2016 Results Conference Call on Monday, November 14, 2016, at 11:00 AM Eastern Time.
If you would like to participate, please call:
United States: (877) 317-6776
International: +1-(412) 317-6776
ID# IRSA CP
To access the webcast, click on the link below:
http://webcast.neo1.net/Cover.aspx?PlatformId=qSt3dUmTNIkiUOTxF5dMoQ%3D%3D
Investor Relations Department
+ 5411 4323-7449
[email protected]
www.irsacp.com.ar
Follow us on Twitter @irsacpir
SOURCE IRSA Propiedades Comerciales S.A.
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