SParikh wrote: This article speaks true to the importance and capitalizing of the cloud. Me having experience dealing with cloud based tech and consulting and integration services, I realize the need for a secure and consistant cloud service. Many people are concerned with the privacy, or lack thereof, that could occur with storing personal documents into a non-physical storage unit. I can see, though with companies such as ours and Metacloud, we are working toward a more secure and easy to use cloud system for both personal and professional use.
Spursh Parikh
www.sererra.com
BUENOS AIRES, Argentina, Feb. 18, 2013 /PRNewswire/ -- IRSA Inversiones y Representaciones Sociedad Anonima (NYSE: IRS; BASE: IRSA), the leading real estate company in Argentina, announces its results for the first six months of FY 2013 Ended December 31, 2012
HIGHLIGHTS
Net income for the first six months of 2013 was ARS 245.9 million increasing 209.7% compared to the same period of last year.
For the first six months of 2013, IRSA's revenues increased by 19.0% to ARS 1,086.0 million, and EBITDA grew 45.4% to ARS 666.0 million.
Revenues and EBITDA from the Shopping Centers segment grew 20.4% and 16.8%, respectively, in the first semester of fiscal year 2013 as compared to 2012. The portfolio occupancy stood at 98.8%.
The offices segment shows 96.5% occupancy in our portfolio.
In November 2012, the transaction whereby IRSA increased to 74.50% its interest in Rigby 183 LLC, owner of the Madison 183 building in Manhattan, was completed.
Six month period of Fiscal Year 2013 Financial Highlights (In thousands of Argentine Pesos) Ended December 31, 2012
12-31-12
12-31-11
Total sales
1,086,041
912,919
Operating Income
558,874
372,271
Net Income (Loss)
245,879
79,384
Net Income per GDS
0.0387
0.1141
12-31-12
06-30-12
Total Current Assets
1,208,407
839,328
Total Non Current Assets
6,680,475
6,050,293
Total Assets
7,888,882
6,889,621
Short-Term debt
613,462
500,926
Total Current Liabilities
1,509,024
1,205,744
Long-term debt
2,762,384
2,215,053
Total Non Current Liabilities
3,208,496
2,644,108
Total Liabilities
4,717,520
3,849,852
Minority interest
465,233
3,039,769
Shareholders' Equity
3,171,362
3,039,769
IRSA Inversiones y Representaciones S.A. (NYSE: IRS, BASE: IRSA) is Argentina's largest, most well-diversified real estate company, and it is the only company in the industry whose shares are listed on both the Bolsa de Comercio de Buenos Aires and The New York Stock Exchange. Through its subsidiaries, IRSA manages an expanding top portfolio of shopping centers and office buildings, primarily in Buenos Aires. The company also develops residential subdivisions and apartments (specializing in high-rises and loft-style conversions) and owns three luxury hotels. Its solid, diversified portfolio of properties has established the Company as the leader in the sector in which it participates, making it the best vehicle to access the Argentine real estate market. Additionally, IRSA owns a stake in Banco Hipotecario, Argentina's largest mortgage supplier in the country.
A LONGER VERSION OF THIS PRESS RELEASE WITH DETAILED INFORMATION IS AVAILABLE ON THE WEB SITE: WWW.IRSA.COM.AR
IRSA cordially invites you to participate in its six month period FY 2013 Results Conference Call on Tuesday, February 19, 2013 at 11:30 AM Eastern Time
To participate, please call: 888-734-0544 If you are in the US or +1-706-758-3363 for international calls PIN# 92378952
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