BUENOS AIRES, Argentina, Feb. 11, 2020 /PRNewswire/ -- IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA: IRSA), the leading real estate company in Argentina, announces today its results for the second quarter of the Fiscal Year 2020 ended December 31, 2019.
- Net result of the first half of FY20 recorded a gain of ARS 4,857 million compared to a ARS 8,363 million loss in 6M19, mainly explained by higher results from changes in the fair value of investment properties in the Argentina business center and the result from the deconsolidation of Gav-Yam due to the loss of control, offset by lower results of Clal's market valuation in the Israel business center and losses for exchange rate differences in Argentina.
- Net result attributable to the controlling shareholder registered a ARS 1,421 million loss compared to an ARS 8,093 million loss in the first half of 2019.
- Adjusted EBITDA for the first half of FY20 was ARS 11,656 million (ARS 3,442 million from the Argentina business center and ARS 8,214 million from the Israel business center), increasing by 16.1% compared to the same period of 2019.
- Adjusted EBITDA of the rental segments in Argentina decreased 11.6% in the compared half, mainly due to the decrease of 18.7% in shopping centers and 29.2% in hotels partially offset by a growth of 38.1% in the office segment.
- On November 14, 2019, the Company distributed a dividend in kind of ARS 480 million payable in shares of IRSA Propiedades Comerciales (0.00404623926578 IRCP shares / IRSA shares and 0.0404623926578 IRCP shares / ADR IRSA).
(In millions of Argentine Pesos)
6M FY 2020
Consolidated Gross Profit
Net result from changes in the fair value of investment properties
Consolidated Profit from Operations
Result For the Period
IRSA Inversiones y Representaciones S.A. (NYSE: IRS, BYMA: IRSA) is Argentina's largest, most well-diversified real estate company, with investments in the US and Israel, cordially invites you to participate in its IIQ FY 2020 Results Conference Call on Wednesday, February 12, 2020, at 09:00 AM US Eastern Time / 11:00 AM BA Time.
If you would like to participate, please call:
1-844-717-6831 (toll free)
To access the webcast, click on the link below:
Investor Relations Department
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SOURCE IRSA Inversiones y Representaciones S.A.