IRSA Inversiones y Representaciones Sociedad Anónima : Factsheet 2020
October 15, 2020 at 03:10 pm EDT
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FY 2020
THE COMPANY
We are the Argentina's leading real estate company in terms of size and quality. Engaged, directly and indirectly through subsidiaries and joint ventures, in a range of diversified real estate related activities in Argentina, including: the acquisition, development and operation of shopping malls, office buildings, residential properties, luxury hotels, undeveloped land reserves for future development and sale, and selective investments outside Argentina.
Founded in 1943, IRSA Inversiones y Representaciones Sociedad Anónima ("IRSA" or the "Company") is one of Argentina's leading real estate companies and the only Argentine real estate company whose shares are listed both on Bolsas y Mercados Argentinos ("BYMA") and on the New York Stock Exchange ("NYSE").
As of June 30, 2020 we owned 29.91% of Banco Hipotecario S.A. (Banco Hipotecario), one of the leading financial institutions in Argentina, 18.9% interest and voting power of the US Real Estate Investment Trust ("REIT") named Condor Hospitality Trust ("Condor") and indirectly 100% of the Israeli company IDB Development Corporation ("IDBD") and 83.7% of Discount Investment Corporation Ltd. ("DIC").
ARGENTINA BUSINESS CENTER
SHOPPING MALLS' UNIQUE PORTFOLIO
OFFICES BUILDINGS
BA CITY ~70%
Market
Share
Dot Building
Philips
200 Della
Boston Tower
Zetta
Paolera
(IH FY21)
Bouchard 710
Suipacha
República
15 MALLS
332,000
sqm GLA
High income Area
Mid Income Area Low Income Area
8 BUILDINGS
121,000
sqm GLA
Intercontinenta
l
Expanding Corporate North Area
Business Center
AAA Location
Back Office Center
3 PREMIUM HOTELS ACROSS THE COUNTRY
Intercontinental Libertador
LANDBANK
20MM sqm Landbank
Santa María del Plata
Llao Llao
~700,000 sqm
Premium mixed-use Real Estate to be developed in the best location of BA city
Montevideo (Uruguay)
La Plata (IRCP - BA)
La Adela (Lujan - BA)
FINANCIAL & OTHER INVESTMENTS
29.9%
18.9%
ISRAEL BUSINESS CENTER
IDBD CLAL SALE PROCESS
In Israel operations center, the forced process of selling Clal's shares at market values has put IDBD in an adverse financial situation. After several rounds of negotiation where Dolphin tried to reach a favorable agreement with his creditors, they rejected the offers and asked the Tel Aviv District Court to order the opening of a bankruptcy procedure against IDBD. Following the Court's ruling, we are evaluating the possible alternatives together with our local and international advisers.
NET ASSET VALUE
J U N E 3 0 , 2 0 2 0 - U S D M I L L I O N
1,536
1,136 NAV
26.7%
GAV
LTV
NAV
1.Book value as of June 30, 2020
2.Book value as of June 30, 2020. "Others" includes investment in Condor Hospitality Trust and Israel at zero market value
DEBT PROFILE
J U N E 3 0 , 2 0 2 0 - U S D M I L L I O N
410.3
Consolidated Net
Debt
Description
USD
Maturity
Short term debt
14.3
<360 days
Series II (USD)
71.4
Jul 20
Series II (CLP)
38.6
Aug 20
Series I
181.5
Nov 20
Series III
5.0
Feb 21
110.0
Series II Cancellation
(July and August 2020)
AMORTIZATION SCHEDULE
AFTER SERIES II CANCELLATION
(Calendar year)
203.1
66.7
104.2
Local Issuances
(May and July 2020)
Subsequently, on July 21, 2020, we issued USD 38.4 MM
Series VI (ARS): ARS 335.2 MM at BADLAR + 4.0% due July 21, 2021
Series VII (USD linked): USD 33.7 MM at 4.0% fixed due January 21, 2022
104.0
65.6
Series IV
51.4
May 21
Series V
9.2
May 22
Intercompany
53.4
Mar 22
Debt
Other Debt
20.6
Feb 22
GROSS DEBT
445.4
Cash &
35.1
Equivalents1
NET DEBT
410.3
2020
2021
2022
Central Bank Resolutions A "7106":
Companies must refinance principal maturities operating between October 15, 2020 and March 31,2021.
The BCRA will give access to the official FX up to 40% of the total amount and companies must refinance the remaining balance to an average term of at least 2 years.
The refinancing plan must be submitted prior to September30, 2020.
The maturity of Series I falls within the period contemplated by the provision, as well as other bank debt.
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Disclaimer
IRSA - Inversiones y Representaciones SA published this content on 15 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2020 19:09:03 UTC
IRSA Inversiones y Representaciones Sociedad Anonima is a holding company. The Company invests on its own behalf and through investee companies in companies operating in various sectors of the Israeli and global economy. The Company's segments are Cellcom, which includes cellular telephone services, content and added value services, other services and revenues from the sale of end user equipment in the cellular field; Property and Buildings and projects in Las Vegas, which includes the rental of income-generating properties and residential buildings; Shufersal, which includes retail and the rental of income-generating properties; Adama, which includes the sale of agro products and non-agro products; Clal Insurance Enterprise Holdings, which operates through subsidiary companies in the fields of insurance, pensions and provident funds, in the field of financial services and in the holding of assets and real businesses, and Others.
IRSA INVERSIONES Y REPRESENTACIONES SOCIEDAD ANÓNIMA 
