IRSA Propiedades Comerciales S.A. announces its results for the second quarter of FY 2020
IRSA Propiedades Comerciales S.A. - American Depository Shares (IRCP)
US:NASDAQ Investor Relations:
irsacp.com.ar
Company Research
Source: PR Newswire
BUENOS AIRES, Argentina, Feb. 10, 2020 /PRNewswire/ -- IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP; ByMA: IRCP), the leading commercial real estate company in Argentina, announces its results for the second quarter of the FY 2020 ended December 31, 2019.HIGHLIGHTSNet result for the first half of fiscal year 2020 registered a loss of ARS 250 million compared to a loss of ARS 6,426 million in the same period of 2019. This lower loss is explained by higher operating results and changes in the fair value of investment properties and a loss in net financial results, mainly due to exchange rate differences. The Company's Adjusted EBITDA for the first half of fiscal year 2020 reached ARS 3,459 million, decreasing in real terms by 9.1% compared to the same period of 2019. Adjusted EBITDA for Shopping Malls decreased by 18.7% while Adjusted EBITDA for Office segment increased by 36.8%. Our same Shopping Malls Sales grew by 0.4% in real terms for the first half of fiscal year 2020 a
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