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, 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)
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
Propiedades Comerciales S.A.
(THE
“COMPANY”)
REPORT
ON FORM 6-K
By letter dated
September 22, 2020, the Company reported that in compliance with
Section 62 of the Regulations issued by the Buenos Aires Stock
Exchange, the following information:
|
1. Net
Result
|
|
In
thousands of ARS
|
|
|
|
|
06/30/20
|
|
|
06/30/19
|
|
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Attributable to:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Controlling
company’s shareholders
|
|
|
17,089,537
|
|
|
|
(25,772,628)
|
|
|
Non-controlling
interest
|
|
|
1,063,723
|
|
|
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(150,306)
|
|
|
|
|
|
|
|
|
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|
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2. Shareholders’
Equity
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|
In
thousands of ARS
|
|
|
|
|
06/30/20
|
|
|
06/30/19
|
|
|
Capital
stock
|
|
|
126,014
|
|
|
|
126,014
|
|
|
Comprehensive
adjustment of capital stock
|
|
|
3,390,555
|
|
|
|
3,390,555
|
|
|
Additional paid in
capital
|
|
|
9,660,049
|
|
|
|
9,660,049
|
|
|
Legal
reserve
|
|
|
133,540
|
|
|
|
133,540
|
|
|
Reserve for future
dividends
|
|
|
31,631,809
|
|
|
|
32,362,825
|
|
|
Reserve Resolution CNV 609/12
|
|
|
9,231,783
|
|
|
|
9,231,783
|
|
|
Special
reserve
|
|
|
150,351
|
|
|
|
42,118,844
|
|
|
Changes in non
controlling interest
|
|
|
(180,717)
|
|
|
|
(122,476)
|
|
|
Retained
earnings
|
|
|
17,089,538
|
|
|
|
(41,968,492)
|
|
|
Other comprehensive
results
|
|
|
251,757
|
|
|
|
-
|
|
|
Total
attributable to controlling company’s
shareholders
|
|
|
71,484,679
|
|
|
|
54,932,642
|
|
|
Non-controlling
interest
|
|
|
4,088,994
|
|
|
|
3,113,233
|
|
|
Total
Shareholders’ Equity
|
|
|
75,573,673
|
|
|
|
58,045,875
|
|
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.
The Company’s
principal shareholder is IRSA Inversiones y Representaciones S.A.
with 101,624,666 shares, accounting for 80.65% of the issued
capital stock. The remaining 19.35% is floating in the
market.
Below are the
highlights for the period ended June 30, 2020:
➢
Net income for fiscal
year 2020 recorded a gain of ARS 18,153 million, mainly explained
by a higher value in pesos of our investment properties generating
a gain of ARS 25,126 million , offset by higher net financial
results losses.
➢
On March 20, as a
consequence of the social, preventive and compulsory isolation due
to the COVID-19 pandemic, shopping malls throughout the country
were closed, leaving exclusively those premises dedicated to
essential items such as pharmacies, supermarkets and banks. This
impact has been mainly reflected in the results of the fourth
quarter of the year.
➢
Adjusted
EBITDA
for fiscal 2020 reached ARS 6,152 million, 16.5% in real terms
below fiscal year 2019. Adjusted EBITDA for the Shopping Center
segment, affected by the pandemic, decreased 37.5% while that of
the office segment grew 7.7%.
➢
Tenant sales in Shopping
Centers fell 25.9% in real terms in fiscal 2020 compared to 2019.
In the fourth quarter, sales fell 92.9% affected by the closure of
operations. Portfolio occupancy fell slightly, reaching
93.2%.
➢
Regarding
the
Office segment, although most of our tenants have been working at
home since mandatory quarantine was decreed, they are operating
under strict safety and hygiene protocols.
➢
During
the
fourth quarter of the year and after closing, we have sold
approximately 25,000 sqm of premium offices for a total amount of
USD 145.5 million .
➢
Adjusted
EBITDA
for fiscal 2020 reached ARS 6,152 million, 16.5% in real terms
below fiscal year 2019. Adjusted EBITDA for the Shopping Center
segment, affected by the pandemic, decreased 37.5% while that of
the office segment grew 7.7%.
➢
As a subsequent event,
in September, we canceled Series IV notes for a total amount of USD
140 million.
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.
|
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IRSA
Propiedades Comerciales
|
|
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By:
|
/S/ Saúl
Zang
|
|
|
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Name:
Saúl Zang
|
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Title:
Responsible for the Relationship with the Markets
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Dated: September
22, 2020