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 February, 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 February 7, 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 nine-month period (in ARS thousands)
 
 
12/31/2019
 
 
12/31/2018
 
 
 
 
 
 
 
 
Gain / Loss attributable to:
 
 
 
 
 
 
Company’s shareholders
 
 
(381,424)
 
 
 
(6,694,285)
 
Non-controlling interests
 
 
131,064
 
 
 
268,074
 
 
 
 
 
 
 
 
 
 
Equity Composition:
 
 
 
 
 
 
 
 
Capital stock
 
 
126,014
 
 
 
126,014
 
Comprehensive adjustment of capital stock
 
 
2,969,738
 
 
 
2,969,738
 
Additional paid-in capital
 
 
8,504,061
 
 
 
8,504,061
 
Legal Reserve
 
 
117,560
 
 
 
117,560
 
Futures Dividends Reserve
 
 
  27,846,530
 
 
 
  28,490,066
 
Reserve Resolution CNV 609/12 
 
 
8,127,045
 
 
 
8,127,045
 
Special Reserve
 
 
132,359
 
 
 
37,078,616
 
Changes in non controlling interest
 
 
(160,201)

 
 
(109,952)

Retained earnings
 
 
(381,424)
    
 
 
(20,993,247)
 
Total attributable to the company's shareholders 
 
 
  47,281,682
 
 
 
64,309,901
 
Non-controlling interest
 
 
2,795,406
 
 
 
3,142,356
 
Total Shareholders’ Equity
 
 
50,077,088
 
 
 
67,452,257
 
 
 
 
 
 
 
 
 
 
 
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 six-months period of Fiscal Year 2020 ended December 31, 2019:
 
 
Net result for the first semester of fiscal year 2020 registered a loss of ARS 250 million compared to a loss of ARS 6,426 million in the same period of 2019. This lower loss is explained by higher operating results and changes in the fair value of investment properties and a los in net financial results, mainly due to exchange rate differences. 
 
 
The Company’s Adjusted EBITDA for the first semester of fiscal year 2020 reached ARS 3,459 million, decreasing in real terms by 9.1% compared to the same period of 2019. Adjusted EBITDA for Shopping Malls decreased by 18.7% while Adjusted EBITDA for Office segment increased by 36.8%.    
 
 
Our same Shopping Malls Sales grew by 0.4% in real terms for the first semester of fiscal year 2020 and by 5.6% for the second quarter when compared to the same period of 2019 and the portfolio’s occupancy rate reached 95.0%.
 
 
On November 13, 2019, the Company distributed among its shareholders a cash dividend in an amount of ARS 595,000,000 (ARS/Share 4.7217 y ARS/ADR 18.8868).
 
 1 Includes the stake of E-Commerce Latina S.A. and Tyrus S.A (Subsidiares of IRSA Inversiones y Representaciones Sociedad Anónima)
 
 
 

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 Propiedades Comerciales S.A.
 
 
 
 By:
 /S/ Saúl Zang
 
 
 
 Name: Saúl Zang
 
 
 
 Title: Responsible for relationship with the markets
 
Dated: February 7, 2020