SYS-CON MEDIA Authors: Elizabeth White, Peter Silva, Liz McMillan, Yeshim Deniz, Pat Romanski

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IRSA Inversiones y Representaciones Sociedad Anonima Announces Results for the Six-month period of FY 2013 Ended December 31, 2012

BUENOS AIRES, Argentina, Feb. 18, 2013 /PRNewswire/ -- IRSA Inversiones y Representaciones Sociedad Anonima (NYSE: IRS; BASE: IRSA), the leading real estate company in Argentina, announces its results for the first six months of FY 2013 Ended December 31, 2012

HIGHLIGHTS

  • Net income for the first six months of 2013 was ARS 245.9 million increasing 209.7% compared to the same period of last year.
  • For the first six months of 2013, IRSA's revenues increased by 19.0% to ARS 1,086.0 million, and EBITDA grew 45.4% to ARS 666.0 million.
  • Revenues and EBITDA from the Shopping Centers segment grew 20.4% and 16.8%, respectively, in the first semester of fiscal year 2013 as compared to 2012. The portfolio occupancy stood at 98.8%.
  • The offices segment shows 96.5% occupancy in our portfolio.
  • In November 2012, the transaction whereby IRSA increased to 74.50% its interest in Rigby 183 LLC, owner of the Madison 183 building in Manhattan, was completed.

Six month period of Fiscal Year 2013 Financial Highlights
(In thousands of Argentine Pesos)
Ended December 31, 2012


12-31-12

12-31-11

Total sales

1,086,041

912,919

Operating Income

558,874

372,271

Net Income (Loss)

245,879

79,384

Net Income per GDS

0.0387

0.1141





12-31-12

06-30-12

Total Current Assets

1,208,407

839,328

Total Non Current Assets

6,680,475

6,050,293

Total Assets

7,888,882

6,889,621

Short-Term debt

613,462

500,926

Total Current Liabilities

1,509,024

1,205,744

Long-term debt

2,762,384

2,215,053

Total Non Current Liabilities

3,208,496

2,644,108

Total Liabilities

4,717,520

3,849,852

Minority interest

465,233

3,039,769

Shareholders' Equity

3,171,362

3,039,769

IRSA Inversiones y Representaciones S.A. (NYSE: IRS, BASE: IRSA) is Argentina's largest, most well-diversified real estate company, and it is the only company in the industry whose shares are listed on both the Bolsa de Comercio de Buenos Aires and The New York Stock Exchange. Through its subsidiaries, IRSA manages an expanding top portfolio of shopping centers and office buildings, primarily in Buenos Aires. The company also develops residential subdivisions and apartments (specializing in high-rises and loft-style conversions) and owns three luxury hotels. Its solid, diversified portfolio of properties has established the Company as the leader in the sector in which it participates, making it the best vehicle to access the Argentine real estate market. Additionally, IRSA owns a stake in Banco Hipotecario, Argentina's largest mortgage supplier in the country.

A LONGER VERSION OF THIS PRESS RELEASE WITH DETAILED INFORMATION IS AVAILABLE ON THE WEB SITE: WWW.IRSA.COM.AR

IRSA cordially invites you to participate in its six month period FY 2013 Results Conference Call on Tuesday, February 19, 2013 at 11:30 AM Eastern Time

To participate, please call:
888-734-0544 If you are in the US or
+1-706-758-3363 for international calls
PIN# 92378952

To access the webcast, click on the link below:
http://webcast.mzvaluemonitor.com/Home/Login/686  

SOURCE IRSA Inversiones y Representaciones Sociedad Anonima

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