IRSA Propiedades Comerciales S.A. announces its Results for the third quarter of the Fiscal Year 2019 Ended March 31, 2019
IRSA Propiedades Comerciales S.A. - American Depository Shares (IRCP)
US:NASDAQ Investor Relations:
irsacp.com.ar
Company Research
Source: PR Newswire
BUENOS AIRES, Argentina, May 9, 2019 /PRNewswire/ -- IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP; ByMA: IRCP), the leading commercial real estate company in Argentina, announces its results for the third quarter of the FY 2019 ended March 31, 2019.HIGHLIGHTSNet result for the nine-month period of FY 2019 registered a loss of ARS 4,474 million compared to a gain of ARS 12,402.6 million in 9M18, despite a gain registered in the 3rd quarter of ARS 198 million. The 9M loss is mainly explained by lower results from changes in fair value of investment properties.The Company's Adjusted EBITDA for 9M19 reached ARS 3,553.4 million, decreasing in real terms by 12.3% compared to 9M18. Adjusted EBITDA for Shopping Malls decreased by 13.6% while Adjusted EBITDA for Office segment increased by 72.5%.Our same Shopping Malls Sales grew by 26.1% in nominal terms (-12.8% in real terms) in the 9M period of FY 2019 compared to same period of FY2018 and the portfolio's occupancy rate reached 94.5%. As
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