IRSA Propiedades Comerciales S.A. announces Results for the nine-month period of 2016 Ended March 31, 2016

BUENOS AIRES, Argentina, May 5, 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 nine months of Fiscal Year 2016 Ended March 31, 2016.

HIGHLIGHTS

• Net gain for the nine month period of FY 2016 reached ARS 640.4 million, increasing by 36% compared to the same period of FY 2015.
• The Company's EBITDA reached ARS 1,625.0 million in the nine-month period of 2016, 52% higher than in the same period of 2015, due mainly to better results from the shopping centers segment that increased its EBITDA by 35%, the acquisition of offices from our controlling company IRSA in December 2014 and higher income from sales of investment properties.
• Our shopping centers' sales grew by 36.3% in the nine-month period of 2016 (30.0% 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 the 9M16, at a gain of ARS 175.6 million.
• We issued a USD 360 million international bond at 8.75% maturing in 2023.
• As a subsequent event, we acquired from our controller IRSA, 16,012 sqm of an office to be build in "Catalinas", City of Buenos Aires.

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 centers 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 nine-month 2016 Results Conference Call on Friday, May 6, 2016, at 2:00 PM Eastern Time

If you would like to participate, please call:
United States:  (877) 317-6776
International:  +1-(412) 317-6776
ID# 10084686

To access the webcast, click on the link below:
http://webcast.neo1.net/Cover.aspx?PlatformId=2AjfNDdBRHtObRVKD1oiDA%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

http://www.irsacp.com.ar