PR Newswire
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
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Revenues |
12,978 |
21,263 |
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Consolidated Gross Profit |
6,414 |
12,391 |
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Net result from changes in the fair value of investment properties |
(7,770) |
50,664 |
|
Consolidated (Loss) / Profit from Operations |
(5,949) |
58,051 |
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IRSA’s Shareholders |
(29,929) |
21,405 |
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Non-Controlling interest |
(7,662) |
14,246 |
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EPS (Basic) |
(50.86) |
37.20 |
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EPS (Diluted) |
(50.86) |
37.10 |
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Current Assets |
13,923 |
308,987 |
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Non-Current Assets |
208,859 |
633,067 |
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Current Liabilities |
22,138 |
215,362 |
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Non-Current Liabilities |
117,920 |
542,464 |
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Non-Controlling Interest |
20,892 |
98,423 |
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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
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.
