IRSA Propiedades Comerciales S.A. announces results for the third 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, June 5, 2020 /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 2020 ended March 31, 2020.HIGHLIGHTSThe net result for the nine-month period of fiscal year 2020 registered a loss of ARS 1,671 million compared to a loss of ARS 6,634 million in the same period of 2019. This lower loss is explained by higher results due to changes in the fair value of the investment properties offset by a greater loss in net financial results. The company's adjusted EBITDA for the nine-month period of fiscal year 2020 reached ARS 5,152 million, decreasing by 3.1% in real terms compared to the same period in 2019. Adjusted EBITDA for Shopping Malls segment decreased by 16, 6%, while Adjusted EBITDA for the office segment increased by 11.9%. On March 20, as a consequence of the social, preventive and compulsory lockdown due to the COVID-19 pande
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