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 2021 ended Marc...
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 7, 2021 /PRNewswire/ --HIGHLIGHTSThe net result for the nine-month period of fiscal year 2021 recorded a loss of ARS 4,794 million compared to a loss of ARS 2,384 million in the same period of 2020, mainly explained by the negative result due to change in the fair value of investment properties partially offset by higher net financial results. Adjusted EBITDA reached ARS 12,321 million in the nine-month period of 2021, increasing 65.7% compared to 2020, mainly explained by the Sales and Developments segment, whose EBITDA reached ARS 9,104 million from sales made of the Bouchard 710 building and the Boston Tower. Adjusted EBITDA of the rental segments reached ARS 3,394 million, which represents a 55% drop compared to the same period of the previous year. Tenant sales in shopping malls grew 0.4% in real terms in the third quarter of fiscal year 2021 compared to 2020. Excluding the second fortnight of March, which had the shopping centers partially or totally
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