IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP; ByMA: IRCP), the leading commercial real estate company in Argentina, announces its results for the second quarter of the FY 2021 ended December 31, 2020

BUENOS AIRES, Argentina, Feb. 9, 2021 /PRNewswire/ --

HIGHLIGHTS

• The net result for the first semester of fiscal year 2021 recorded a gain of ARS 5,285 million compared to a loss of ARS 341 million in the same period of 2020, mainly explained by higher results due to changes in the fair value of investment properties and higher net financial results.
• Adjusted EBITDA reached ARS 8,883 million in the first semester of fiscal year 2021, increasing 90.7% compared to 2020, mainly explained by the Sales and Developments segment, whose EBITDA reached ARS 7,393 million as a result of the sales made of the buildings Bouchard 710 and the Boston Tower. The adjusted EBITDA of the rental segments reached ARS 1,641 million, which represents a 66% drop compared to the same period of the previous year.
• Tenant Sales in Shopping Centers fell by 11.4% in real terms in the second quarter of fiscal year 2021 compared to the same period of 2020, observing a recovery with respect to the previous quarters given the malls' reopening in October 2020. The occupancy of the portfolio was reduced to 88.3%.
• Regarding the office segment, in December 2020, we added the "261 Della Paolera" building, the Company's new headquarters, to the portfolio. The building is 74.6% occupied.
• During the first half of 2021, we have sold approximately 29,654 sqm of offices for a total amount of USD 170.6 million.
• On November 25, 2020, we distributed a cash dividend in the amount of ARS 9.7 billion.

IRSA Propiedades Comerciales cordially invites you to participate in the IIQ FY 2021 Results Conference Call on Wednesday, February 10, 2021 at 09:00 a.m. US EST, 11:00 a.m. BA.

To access the Webinar:
https://irsacorp.zoom.us/j/83823965976?pwd=Rit3enJqY05KN2I3SklDcEZrdXRRdz09 
Webinar ID: 838 2396 5976
Password: 967854

In addition, you can participate communicating to this numbers:

Argentina: +54 112 040 0447 or +54 115 983 6950 or +54 341 512 2188 or +54 343 414 5986

Israel: +972 3 978 6688 or +972 55 330 1762

Brasil : +55 11 4700 9668 or +55 21 3958 7888 or +55 11 4632 2236 or +55 11 4632 2237 or +55 11 4680 6788

Estados Unidos de América: +1 312 626 6799 or +1 346 248 7799 or +1 646 558 8656 or +1 669 900 9128 or +1 253 215 8782 or +1 301 715 8592

Chile: +56 232 938 848 or +56 41 256 0288 or +56 22 573 9304 or +56 22 573 9305 or +56 23 210 9066

Investor Relations Department
+ 5411 4323-7449
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https://www.irsacp.com.ar/home-inversores.php?lng=en 
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SOURCE IRSA Propiedades Comerciales S.A.

Related Links

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