BUENOS AIRES, Argentina,
Sept. 6, 2021 /PRNewswire/
-- IRSA Inversiones y Representaciones S.A. (NYSE: IRS;
BYMA: IRSA), the leading real estate company in Argentina, announces today its results for the
Fiscal Year 2021 ended June 30,
2021.
HIGHLIGHTS
- The results for fiscal year 2021 have been affected by the
restrictions due to the COVID19 pandemic. The company's shopping
malls and hotels were closed for most of the year while the offices
remained operational, even though most of the tenants adopted the
remote work modality.
- Malls' tenant sales and revenues fell 27.8% and 40.3%,
respectively, in real terms, office revenues fell 22.0% and hotel
revenues 69.7%. Adjusted EBITDA of the rental segments reached
ARS 4,223 million, 55.1% lower than
the previous year, while total Adjusted EBITDA, which includes
investment property sales, reached ARS
13,284 million, growing by 54.6% in the year.
- The net result for fiscal year 2021 showed a loss of
ARS 37,591 million mainly explained
by the operating result, the impact of the change in the rate, from
25% to 35%, in the deferred income tax and the loss recorded by
discontinued operations.
- During fiscal year 2021, we sold approximately 29,700 m2 of
premium offices for a total amount of USD
170.6 million and inaugurated the building located at Della
Paolera 261, the company's new headquarters.
- In financial matters, during the year we issued debt in the
local market for USD 216 million, we
successfully completed the exchange of the Series I Notes for
USD 181.5 million within the
framework of the BCRA Resolution, we increased the capital by
approximately USD 29 million and we
distributed a dividend in kind with shares of IRSA Propiedades
Comerciales for the sum of ARS 484
million.
Financial Highlights
(In millions of Argentine
Pesos)
FY 2021
Income
Statement
|
06/30/2021
|
06/30/2020
|
Revenues
|
12,978
|
21,263
|
Consolidated Gross
Profit
|
6,414
|
12,391
|
Net result from
changes in the fair value of investment properties
|
(7,770)
|
50,664
|
Consolidated (Loss) /
Profit from Operations
|
(5,949)
|
58,051
|
Result for the
Period
|
(37,591)
|
35,651
|
|
|
|
Attributable
to:
|
|
|
IRSA's
Shareholders
|
(29,929)
|
21,405
|
Non-Controlling
interest
|
(7,662)
|
14,246
|
|
|
|
EPS
(Basic)
|
(50.86)
|
37.20
|
EPS
(Diluted)
|
(50.86)
|
37.10
|
|
|
|
Balance
Sheet
|
06/30/2021
|
06/30/2020
|
Current
Assets
|
13,923
|
308,987
|
Non-Current
Assets
|
208,859
|
633,067
|
Total
Assets
|
222,782
|
942,054
|
Current
Liabilities
|
22,138
|
215,362
|
Non-Current
Liabilities
|
117,920
|
542,464
|
Total
Liabilities
|
140,058
|
757,826
|
Non-Controlling
Interest
|
20,892
|
98,423
|
Shareholders'
Equity
|
82,724
|
184,228
|
IRSA Inversiones y Representaciones S.A. (NYSE: IRS,
BYMA: IRSA), the Argentina's
largest, most well-diversified real estate company, with
investments in the US, cordially invites you to participate in its
FY 2021 Results Conference Call on Thursday,
September 9, 2021, at 10:00 AM
US Eastern Time / 11:00 AM BA
Time.
To access the Webinar:
https://irsacorp.zoom.us/j/89161656291?pwd=Ky8wNjMyU2ZiakowcFJiNnc5cHdIdz09
Webinar ID: 891 6165 6291
Password: 087884
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
Brazil: +55 11 4700 9668 or +55
21 3958 7888 or +55 11 4632 2236 or +55 11 4632 2237 or +55 11 4680
6788
United States of America: +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
ir@irsa.com.ar
https://www.irsa.com.ar/home-inversores.php?lng=en
Follow us on Twitter @irsair
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SOURCE IRSA Inversiones y Representaciones S.A.