IRSA Inversiones y Representaciones S.A. announces results for the first quarter of Fiscal Year 2021 ended September 30, 2020
HIGHLIGHTS
- The net result for the first quarter of fiscal year 2021 recorded a gain of
ARS 8,340 million compared toARS 15,017 million in the same period of 2020. The result from continuing operations recorded a gain ofARS 14,736 million mainly due to higher results from changes in the fair value of the investment properties.
- The result of discontinued operations recorded a loss of
ARS 6,396 million as a result of the deconsolidation of the investment inIsrael sinceSeptember 30, 2020 .
- On
March 20 , as a consequence of the social, preventive and mandatory lockdown due to the COVID-19 pandemic, the closure of shopping malls and hotels throughout the country took place. This impact has been reflected in the results of the first quarter of the year since the main shopping malls of the company, located in the city ofBuenos Aires , opened their doors later, in October and the hotels remain closed.
- Adjusted EBITDA reached
ARS 4,786 million in the first quarter of fiscal year 2021, increasing 155.0% compared to the first quarter of 2020, mainly explained by the Sales and Developments segment, whose EBITDA reachedARS 4,923 million due to sales made by our subsidiaryIRSA Commercial Properties of the Bouchard 710 and theBoston Tower office buildings. Adjusted EBITDA of the rental segments reachedARS 92 million , which represents a 96% decrease compared to the same period of the previous year.
- After the end of the quarter, we completed an exchange of the Class I Notes for a nominal value of
USD 181.5 million . The nominal value of the notes presented and accepted for exchange was approximatelyUSD 178.5 million , which represents a 98.31% acceptance, through the participation of 6,571 orders.
- As a subsequent event, we announced the distribution of a dividend in shares of
IRSA Propiedades Comerciales for the sum ofARS 484 million (0.002613 shares of IRSA PC per share of IRSA and 0.02613 per ADR of IRSA). The payment was effective onNovember 17 .
Financial Highlights
(In millions of Argentine Pesos)
3M FY 2021
Income Statement |
|
|
Revenues |
1,609 |
4,487 |
Consolidated Gross Profit |
512 |
2,805 |
Net result from changes in the fair value of investment properties |
24,089 |
12,349 |
Consolidated Profit from Operations |
23,489 |
14,142 |
Result for the Period |
8,340 |
15,017 |
|
|
|
Attributable to: |
|
|
IRSA's Shareholders |
6,615 |
4,509 |
Non-Controlling interest |
1,725 |
10,508 |
|
|
|
EPS (Basic) |
11.50 |
7.84 |
EPS (Diluted) |
11.42 |
7.79 |
|
|
|
Balance Sheet |
|
|
Current Assets |
13,185 |
221,464 |
Non-Current Assets |
187,230 |
453,746 |
Total Assets |
200,415 |
675,210 |
Current Liabilities |
30,050 |
154,360 |
Non-Current Liabilities |
76,626 |
388,806 |
Total Liabilities |
106,676 |
543,166 |
Non-Controlling Interest |
23,364 |
70,544 |
Shareholders' Equity |
93,739 |
132,044 |
To access the Webinar:
https://irsacorp.zoom.us/j/87592252437?pwd=NEJIN3NKSmYrd0dlVElKZlpOUjU4QT09
Webinar ID: 875 9225 2437
Password: 829611
In addition, you can participate communicating to this numbers:
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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