iCrowdNewswire   Feb 22, 2021  7:47 AM ET

HIGHLIGHTS

• The net result for the first half of fiscal year 2021 recorded a loss of ARS 1,164 million compared to a gain of ARS 6,611 million in the same period of 2020.
• The result from continuing operations recorded a gain of ARS 5,956 million mainly due to higher results from changes in the fair value of the investment properties. The result of discontinued operations recorded a loss of ARS 7,120 million as a result of the deconsolidation of the investment in Israel since September 30, 2020.
• Adjusted EBITDA reached ARS 8,055 million in the first quarter of fiscal year 2021, increasing 76.9% compared to the first quarter of 2020, mainly explained by the Sales and Developments segment, due to the sales made by IRSA Commercial Properties. Adjusted EBITDA of the rental segments was reduced by 74,5% in the period, reaching ARS 1,341 million.
• Regarding the rental portfolio, the shopping malls showed a recovery in their sales in the quarter given the reopening in October, we incorporated the 261 Della Paolera building into the office portfolio, becoming the new headquarters of the Company and in December, the 3 hotels returned to their operations under strict protocols.
• In November 2020, we completed an exchange offer of the Series I Notes for a nominal value of USD 181.5 million with an acceptance of 98.3% and distributed a dividend in kind with shares of IRSA Propiedades Comerciales for the sum of ARS 484 million.

Financial Highlights
(In millions of Argentine Pesos)
6M FY 2021

IRSA Inversiones y Representaciones S.A. , the Argentina’s largest, most well-diversified real estate company, with investments in the US, cordially invites you to participate in its IIQ FY 2021 Results Conference Call on Wednesday, February 17, 2021, at 12:00 PM US Eastern Time / 02:00 PM BA Time.

To access the Webinar:
https://irsacorp.zoom.us/j/82475819690?pwd=UkxzbnF4QTZ4SjFqNUxwMjh1ODdWQT09 
Webinar ID: 824 7581 9690
Password: 188806

In addition, you can participate communicating to this numbers:

Argentina: +54 112 040 0447 or +54 115 983 6950 or +54 341 512 2188 or +54 343 414 5986

Israel: +972 3 978 6688 or +972 55 330 1762

Brazil: +55 11 4700 9668 or +55 21 3958 7888 or +55 11 4632 2236 or +55 11 4632 2237 or +55 11 4680 6788

United States of America: +1 312 626 6799 or +1 346 248 7799 or +1 646 558 8656 or +1 669 900 9128 or +1 253 215 8782 or +1 301 715 8592

Chile: +56 232 938 848 or +56 41 256 0288 or +56 22 573 9304 or +56 22 573 9305 or +56 23 210 9066

Investor Relations Department.
+ 5411 4323-7449
ir@irsa.com.ar 

+ 5411 4323-7449
ir@irsa.com.ar 

---