IRSA Propiedades Comerciales S.A. announces Results for the first six month of FY 2017 Ended December 31, 2016

News provided by

IRSA Propiedades Comerciales S.A.

Feb 09, 2017, 17:47 ET

BUENOS AIRES, Argentina, Feb. 9, 2017 /PRNewswire/ -- IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP; MERVAL: IRCP), the leading commercial real estate company in Argentina, today announces its results for the six month period of FY 2017 ended December 31, 2017.

HIGHLIGHTS

  • Net Income for the six-month period of FY 2017 reached ARS 518.4 million compared to ARS 432.2 million in the same period of FY 2016.
  • The Company's EBITDA reached ARS 1,318.3 million in the six-month period of 2017 while the EBITDA for the rental segment grew by 28.6% compared to the same period of 2016.
  • Our shopping centers' sales grew by 19.9% in the six-month period of 2017 and the portfolio's occupancy rate stood at 98.4%.
  • We maintained 100% occupancy in our portfolio of Premium Offices.
  • During November 2016, we paid a cash dividend of ARS 460 million, equivalent to ARS 0.3650 per ordinary share and ARS 14.6015 per ADR.

Financial Highlights

(In millions of Argentine Pesos)

6M 2017

Ended December 31, 2016



Income Statement

12/31/2016

12/31/2015

Revenues from sales, leases and services

1,679.6

1,296.6

Consolidated Gross Profit

1,402.9

1,071.7

Consolidated Profit from Operations

1,197.0

1,023.9

Profit / (Loss) For the Period

518.4

432.2



Attributable to:

IRSA CP's Shareholders

479.1

379.2

Non-Controlling interest

39.3

53.0



EPS (Basic)

3.80

3.01

EPS (Diluted)

3.80

3.01



Balance Sheet

12/31/2016

06/30/2016

Current Assets

4,279.2

4,103.5

Non Current Assets

5,318.6

5,196.0

Total Assets

9,597.8

9,299.5

Current Liabilities

1,718.5

1,822.1

Non Current Liabilities

6,126.2

5,805.3

Total Liabilities

7,844.7

7,627.4

Non-Controlling Interest

242.5

180.8

Shareholders' Equity

1,753.0

1,672.1

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 the six month period of FY 2017 Results Conference Call on Monday, February 13, 2017 at 1:00 p.m. US EST.

If you would like to participate, please call:
1-877-317-6776 (toll free) ó
1-412-317-6776 (international)
Conference ID # IRSA CP

To access the webcast, click on the link below:

http://webcast.neo1.net/Cover.aspx?PlatformId=iMsv5lcReh8Udk2%2Bb3CL2Q%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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