0001654954-17-008285.txt : 20170911 0001654954-17-008285.hdr.sgml : 20170911 20170908175556 ACCESSION NUMBER: 0001654954-17-008285 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20170908 FILED AS OF DATE: 20170911 DATE AS OF CHANGE: 20170908 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IRSA INVESTMENTS & REPRESENTATIONS INC CENTRAL INDEX KEY: 0000933267 STANDARD INDUSTRIAL CLASSIFICATION: LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES) [6552] IRS NUMBER: 000000000 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13542 FILM NUMBER: 171077484 BUSINESS ADDRESS: STREET 1: BOLIVAR 108 CITY: BUENOS AIRES STATE: C1 ZIP: C1066AAD BUSINESS PHONE: 00541143237449 MAIL ADDRESS: STREET 1: BOLIVAR 108 CITY: BUENOS AIRES STATE: C1 ZIP: C1066AAD 6-K 1 form6k.htm ARTICLE 62 form6k.htm
 
 
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 September, 2017
 
 IRSA Inversiones y Representaciones Sociedad Anónima
(Exact name of Registrant as specified in its charter)
 
IRSA Investments and Representations Inc.
(Translation of registrant´s name into English)
 
 Republic of Argentina
(Jurisdiction of incorporation or organization)
 
Bolívar 108
(C1066AAB)
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 INVERSIONES Y REPRESENTACIONES SOCIEDAD ANÓNIMA
(THE “COMPANY”)
 
REPORT ON FORM 6-K
 
 
 
By letter dated September 8, 2017, the Company reported that in compliance with Section 62 of the Regulations issued by the Buenos Aires Stock Exchange, this is to report the following information:
 
 
 
 
 
1. Results of the period
  In million ARS
 
06/30/2017
06/30/2016
06/30/2015
Results of the period
5,220
9,496
2,710
Attributable to:
 
 
 
Company's shareholders
3,030
8,973
2,459
Non-controlling interest
2,190
523
251
 
 
 
 
2. Other integral results of the period
  In million ARS
 
06/30/2017
06/30/2016
06/30/2015
Other integral results of the period
4,513
4,155
(76)
Attributable to:
 
 
 
Company's shareholders
1,024
92
(94)
Non-controlling interest
3,489
4,063
18
 
 
 
 
3. Total integral results of the period
In million ARS
 
06/30/2017
06/30/2016
06/30/2015
Total integral results of the period
9,733
13,651
2,634
Attributable to:
 
 
 
Company's shareholders
4,054
9,065
2,365
Non-controlling interest
5,679
4,586
269
 
 
 
 
 
4. Equity
In million ARS
 
06/30/2017
06/30/2016
06/30/2015
Share capital
575
575
574
Treasury shares
4
4
5
Inflation adjustment  of share capital and treasury shares
123
123
123
Additional paid-in capital
793
793
793
Additional paid-in capital from of treasury shares
17
16
7
Legal reserve
143
117
117
Special reserve
2,751
2,755
2,755
Cost of treasury shares
(28)
(29)
(34)
Changes in non-controlling interest
186
21
4
Reserve for shares based payments
78
67
64
Reserves for future dividends
494
520
-
Reserve for currency translation adjustment
1,394
421
425
Reserve for hedging
19
(37)
-
Reserve for defined benefit plans
(15)
(10)
-
Other reserves from subsidiaries
37
37
-
Retained earnings
19,293
16,259
7,796
Total attributable to the company's shareholders
25,864
21,632
12,629
Non-controlling interest
21,472
14,224
963
Total shareholder's equity
47,336
35,856
13,592
 
 
 
 
5. Adjustment of previous results
In million ARS
 
06/30/2016
06/30/2015
07/01/2014
Change in accounting policy of investment properties
22,355
10,722
8,662
Attributable to:
 
 
 
Company's shareholders
20,517
10,155
8,212
Non-controlling interest
1,838
567
450
 

Regarding  the paragraph l), section 5) of the Regulations, it is recorded that the Board of Directors has begun the analysis of the proposals that will be made to the next annual shareholder's meeting, the result of which will be informed to the shareholders and respective bodies, the administrative body.
 
Pursuant to Article 62 (1) (6), (7) and (8) of the aforementioned Regulations, at the closing date of the financial statements, the Company's capital stock is ARS 578,676,460 (including own shares in portfolio) whose shareholding composition is divided into 578,676,460 non-endorsable registered common shares of 1 nominal value each and entitled to 1 vote each.
 
The main shareholder of the Company is Cresud S.A.C.I.F. and A. (Cresud) with 366,788,251 shares, representing 63.38% of the issued share capital. Cresud is our ultimate controlling entity and is a company incorporated and domiciled in the Argentine Republic. The address of its headquarters is Moreno 877, 23 ° floor, Autonomous City of Buenos Aires, Argentina.
 
As of June 30, 2016 there are no options or negotiable obligations convertible into circulation to acquire our shares.
 
We also inform that as of June 30, 2017, by subtracting Cresud's holding and own shares in the portfolio, the remaining shareholders had 208,377,022 non-endorsable common shares of 1 nominal value each and entitled to 1 vote each of the Company representing 36.01% of the issued share capital.

Below are the highlights for the period ended June 30, 2017:

 
 
➢
We decided to change the valuation method for the investment properties from historical cost to reasonable value, which was reflected in the company’s financial statements as of the IVQ of FY17.
 
➢
Adjusted EBITDA for the FY 2017 reached ARS 9,957 million (ARS 2,397 million from Argentina and ARS 7,560 million from Israel), increasing by 63.8% compared to 2016.
 
➢
Net result for FY17 registered a gain of ARS 5,520 million compared to a gain of ARS 9,496 million in 2016 mainly explained by lower results from changes in the fair value of investments properties compensated by the results coming from Adama sale and the increase in Clal share price added to the fact that we are consolidating 12 months of 2017 in the Israel Business Center compared to 6 months of 2016.
 
➢
Tenant Sales in our malls grew by 19.1% in FY17 while the average rent per sqm of the office portfolio reached USD/sqm 25.3. EBITDA of the rental segment increased by 27.5% in the compared period.
 
➢
We reached 98.0% occupancy in our shopping malls, 96.2% occupancy in our offices and 67.3% in our hotels’ portfolio.
 
➢
During 2017, IDBD has issued notes in the Israeli market for NIS 1,060 million at a fixed rate of 5.40% due 2019 to refinance its short term debt.
 
 
 
 
 
SIGNATURES
 
 
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Buenos Aires, Argentina.
 
 
 IRSA Inversiones y Representaciones Sociedad Anónima
 
 
 
 By:
 /S/ Saúl Zang
 
 
 
 Name: Saúl Zang
 
 
 
 Title: Responsible for the Relationship with the Markets
 
Dated: September 8, 2017