SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN ISSUER
PURSUANT
TO RULE 13a-16 OR 15b-16 OF
THE
SECURITIES EXCHANGE ACT OF 1934
For
the month of November, 2020
IRSA
Propiedades Comerciales S.A.
(Exact name of Registrant as specified in its charter)
IRSA
Commercial Properties Inc.
(Translation of registrant´s name into English)
Republic
of Argentina
(Jurisdiction of incorporation or organization)
Moreno
877
(C1091AAQ)
Buenos
Aires, Argentina
(Address of principal
executive offices)
Form 20-F ⌧ Form
40-F ☐
Indicate by
check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes ☐ No
x
IRSA
Propiedades Comerciales S.A.
(THE
“COMPANY”)
REPORT
ON FORM 6-K
IRSA
Propiedades Comerciales S.A.
(THE
“COMPANY”)
REPORT
ON FORM 6-K
Attached is the
English translation of the letter dated November 17, 2020, filed by
the Company with the Bolsa de
Comercio de Buenos Aires and the Comisión Nacional de
Valores.
In compliance with
Section 63 of the Regulations issued by the Buenos Aires Stock
Exchange, this is to report the following information:
Integral
Result for the first quarter of Fiscal Year 2021 (in ARS
million)
|
|
09/30/2020
|
|
|
09/30/2019
|
|
|
|
|
|
|
|
|
Gain / Loss
attributable to:
|
|
|
|
|
|
|
Company’s
shareholders
|
|
|
12,349
|
|
|
|
2,738
|
|
Non-controlling
interests
|
|
|
949
|
|
|
|
351
|
|
|
|
|
|
|
|
|
|
|
Equity
Composition:
|
|
|
|
|
|
|
|
|
Capital
stock
|
|
|
126
|
|
|
|
126
|
|
Comprehensive
adjustment of capital stock
|
|
|
3,660
|
|
|
|
3,660
|
|
Additional paid-in
capital
|
|
|
10,400
|
|
|
|
10,400
|
|
Legal
Reserve
|
|
|
144
|
|
|
|
144
|
|
Futures Dividends
Reserve
|
|
|
34,053
|
|
|
|
34,840
|
|
Reserve Resolution
CNV 609/12
|
|
|
9,938
|
|
|
|
9,938
|
|
Special
Reserve
|
|
|
162
|
|
|
|
45,343
|
|
Changes in non
controlling interest
|
|
|
(236)
|
|
|
|
(132)
|
|
Retained
earnings
|
|
|
30,746
|
|
|
|
(42,443)
|
|
Other comprehensive
income
|
|
|
259
|
|
|
|
-
|
|
Total
attributable to the company's
shareholders
|
|
|
89,252
|
|
|
|
61,876
|
|
Non-controlling
interest
|
|
|
5,339
|
|
|
|
3,703
|
|
Total
Shareholders’ Equity
|
|
|
94,591
|
|
|
|
65,579
|
|
|
|
|
|
|
|
|
|
|
In compliance with
Section o) of the referred Regulations, we report that as of the
closing date of the financial statements, the Company’s
capital stock was ARS 126,014,050, divided into 126,014,050 common,
registered, non-endorsable shares of ARS 1 par value each and
entitled to one vote per share.
Shareholders
|
Shares
|
Stake
|
IRSA Inversiones y
Representaciones Sociedad Anónima1
|
101,624,666
|
80.65%
|
Minority
Shareholders
|
24,389,384
|
19.35%
|
Below are the
highlights for the first quarter of Fiscal Year 2021 ended
September 30, 2020:
●
Net result for the
first quarter of fiscal year 2021 recorded a gain of ARS 13,298
million compared to ARS 3,089 million in the same period of 2020,
mainly explained by higher results due to changes in the fair value
of investment properties.
●
On March 20, as a
consequence of the social, preventive and compulsory lockdown due
to the COVID-19 pandemic, the shopping malls throughout the country
were closed, leaving exclusively those stores dedicated to
essential activities such as pharmacies, supermarkets and banks.
This impact has been reflected in the results of the first quarter
of the year since the main shopping malls of the company, located
in the city of Buenos Aires, opened their doors later, in
October.
●
Adjusted
EBITDA
reached ARS 5,184 million in the first quarter of fiscal year 2021,
increasing 157.7% compared to the first quarter of 2020, mainly
explained by the Sales and Developments segment, whose EBITDA
reached ARS 5,019 million as a result of sales made from the
Bouchard 710 buildings and the Boston Tower. The adjusted EBITDA of
the rental segments reached ARS 231 million, which represents a
drop of 89% compared to the same quarter of the previous
year.
●
Tenant sales in shopping
malls fell by 79.4% in real terms in the first quarter of fiscal
year 2021 compared to 2020. Portfolio occupancy remained at
92.8%.
●
After the end of the
quarter, we have sold approximately 7,150 additional sqm of offices
for a total amount of USD 42.0 million.
●
Subsequently
we
announced the distribution of a cash dividend in the amount of ARS
9.7 billion (ARS / share 76.9755 and ARS / ADR 307.9022). Payment
will be effective on November 25.
1 Includes the stake
of E-Commerce Latina S.A. and Tyrus S.A (Subsidiares of IRSA
Inversiones y Representaciones Sociedad Anónima)