IRSA Propiedades Comerciales S.A. announces Results for the fiscal year 2016 Ended June 30, 2016
BUENOS AIRES, Argentina, Aug. 31, 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 Fiscal Year 2016 Ended June 30, 2016
HIGHLIGHTS
- Net gain for FY 2016 reached ARS 911.7 million, increasing by 47% compared to FY 2015.
- The Company's EBITDA reached ARS 2,174.1 million in FY2016, 37% higher than in 2015, due mainly to better results from the shopping centers segment, the acquisition of offices in December 2014 and higher income from sales of investment properties.
- Our shopping centers' sales grew by 34.3% in FY2016 (29.6% considering the same shopping centers) and the portfolio's occupancy rate stood at 98.6%.
- We sold 6.814 sqm of office floors in Intercontinental Plaza building in FY16, at a gain of ARS 175.6 million.
- We extended this year the maturity of our debt to 2023 issuing an international bond for USD 360 million at an annual fixed interest rate of 8.75%.
- We launched 3 investments projects that will start during next fiscal year: Alto Palermo expansion and the developments of "Polo Dot" and "Catalinas" Office buildings.
Financial Highlights |
||
(In millions of Argentine Pesos) |
||
FY 2016 |
||
Ended June 30, 2016 |
||
Income Statement |
06/30/2016 |
06/30/2015 |
Revenues from sales, leases and services |
2,675 |
1,924 |
Consolidated Gross Profit |
2,178 |
1,575 |
Consolidated Profit from Operations |
1,935 |
1,348 |
Profit / (Loss) For the Period |
911 |
621 |
Attributable to: |
||
IRSA CP's Shareholders |
817 |
581 |
Non-Controlling interest |
95 |
39 |
EPS (Basic) |
0.65 |
0.46 |
EPS (Diluted) |
0.65 |
0.46 |
Balance Sheet |
06/30/2016 |
06/30/2015 |
Current Assets |
4,104 |
1,424 |
Non Current Assets |
5,196 |
4,921 |
Total Assets |
9,299 |
6,345 |
Current Liabilities |
1,822 |
1,515 |
Non Current Liabilities |
5,805 |
3,687 |
Total Liabilities |
7,627 |
5,202 |
Non-Controlling Interest |
181 |
185 |
Shareholders' Equity |
1,672 |
1,143 |
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 Thursday, September 01, 2016, at 9:00 AM Eastern Time
If you would like to participate, please call:
United States: (877) 317-6776
International: +1-(412) 317-6776
ID# 10091004
To access the webcast, click on the link below: http://webcast.neo1.net/Cover.aspx?PlatformId=fSl%2F1Nx9r5GdnxBsI19CIg%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.
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article