IRS - IRSA Inversiones y Representaciones S.A. announces its Results for the Fiscal Year 2020 ended June 30 2020.

PR Newswire

BUENOS AIRES, Argentina, Sept. 29, 2020

BUENOS AIRES, Argentina , Sept. 29, 2020 /PRNewswire/ -- IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA: IRSA), the leading real estate company in Argentina , announces today its results for the Fiscal Year 2020 ended June 30, 2020 .

HIGHLIGHTS

• Net result for the fiscal year showed a profit of ARS 23,731 million , compared to a loss of ARS 38,371 million in the fiscal year 2019. This gain is explained by a higher value in pesos of investment properties in Argentina business center.
• On March 20 , as a consequence of the social, preventive and mandatory lockdown decreed in Argentina due to the COVID-19 pandemic, the hotels and shopping malls throughout the country were closed, working exclusively those essential activities such as pharmacies, supermarkets and banks. This negative impact has been mainly reflected in the 4th quarter of FY 2020.
• Adjusted EBITDA for Argentine Business Center, excluding the impact of the revaluation of our investment properties at fair value, reached ARS 5,708 million in fiscal year 2020, 23.3% below 2019.
• During the year we have issued notes in the local market for the sum of USD 197.2 million and after the end of the fiscal year, an additional sum of USD 38.4 million to refinance short-term debt.
• In Israel Business Center, in September 2020 , IDBD creditors asked the Tel Aviv District Court to order the opening of a liquidation procedure against IDBD. Following the Court's adverse ruling, we are evaluating the possible alternatives. Regarding our individual financial statements, the investment in IDBD and DIC as of June 30, 2020 is valued at zero.

IRSA Inversiones y Representaciones S.A . (NYSE: IRS, BYMA: IRSA) is Argentina's largest, most well-diversified real estate company, with investments in the US and Israel , cordially invites you to participate in its FY 2020 Results Conference Call on Wednesday, September 30, 2020 , at 11:00 AM US Eastern Time / 12:00 PM BA Time.

To access the Webinar:
https://irsacorp.zoom.us/j/99000838672?pwd=MzNBSlYxNW9yQmROcGYwdkg1MEhxdz09
Webinar ID: 990 0083 8672
Password: 124463

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
Estados Unidos de América: +1 312 626 6799 or +1 346 248 7799 or +1 646 558 8656 or +1 669 900 9128 or +1 253 215 878 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.
IRSA Inversiones y Representaciones S.A.
+ 5411 4323-7449
ir@irsa.com.ar
www.irsa.com.ar
Follow us on Twitter @irsair

SOURCE IRSA Inversiones y Representaciones S.A.