Type of shares
|
CAPITAL STRUCTURE
|
||
Outstanding shares
|
Shares authorized for public offering
|
Subscribed, issued and paid-in
|
|
(in millions of ARS)
|
|||
Registered, common shares with a nominal value of ARS 100 each, 1
vote per share
|
541,230,019
|
541,230,019
|
54,123
|
|
Note
|
09.30.21
|
06.30.21
|
ASSETS
|
|
|
|
Non-current assets
|
|
|
|
Investment
properties
|
8
|
153,034
|
158,311
|
Property,
plant and equipment
|
9
|
1,544
|
1,502
|
Trading
properties
|
10
|
254
|
254
|
Intangible
assets
|
11
|
1,470
|
1,611
|
Rights
of use assets
|
12
|
871
|
886
|
Investments
in associates and joint ventures
|
7
|
4,628
|
4,701
|
Deferred
income tax assets
|
19
|
507
|
487
|
Income
tax credits
|
|
12
|
13
|
Trade
and other receivables
|
14
|
1,255
|
1,337
|
Investments
in financial assets
|
13
|
10
|
11
|
Total non-current assets
|
|
163,585
|
169,113
|
Current Assets
|
|
|
|
Trading
properties
|
10
|
5
|
5
|
Inventories
|
|
44
|
46
|
Income
tax credits
|
|
128
|
157
|
Trade
and other receivables
|
14
|
10,408
|
14,824
|
Investments
in financial assets
|
13
|
11,600
|
8,857
|
Cash
and cash equivalents
|
13
|
988
|
867
|
Total current assets
|
|
23,173
|
24,756
|
TOTAL ASSETS
|
|
186,758
|
193,869
|
SHAREHOLDERS’ EQUITY
|
|
|
|
Total
capital and reserves attributable to equity holders of the parent
(according to corresponding statement)
|
|
77,482
|
79,189
|
Non-controlling
interest
|
|
5,972
|
6,064
|
TOTAL SHAREHOLDERS’ EQUITY
|
|
83,454
|
85,253
|
LIABILITIES
|
|
|
|
Non-current liabilities
|
|
|
|
Trade
and other payables
|
16
|
1,591
|
1,443
|
Borrowings
|
17
|
36,247
|
38,454
|
Income
tax liabilities
|
|
1,362
|
-
|
Deferred
income tax liabilities
|
19
|
50,902
|
53,348
|
Provisions
|
18
|
86
|
88
|
Derivative
financial instruments
|
13
|
4
|
10
|
Leases
liabilities
|
|
830
|
931
|
Total non-current liabilities
|
|
91,022
|
94,274
|
Current liabilities
|
|
|
|
Trade
and other payables
|
16
|
4,506
|
4,345
|
Income
tax liabilities
|
|
946
|
1,029
|
Payroll
and social security liabilities
|
|
224
|
313
|
Borrowings
|
17
|
6,364
|
8,452
|
Derivative
financial instruments
|
13
|
41
|
53
|
Provisions
|
18
|
87
|
92
|
Leases
liabilities
|
|
114
|
58
|
Total current liabilities
|
|
12,282
|
14,342
|
TOTAL LIABILITIES
|
|
103,304
|
108,616
|
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES
|
|
186,758
|
193,869
|
|
Note
|
09.30.21
|
09.30.20
|
Income
from sales, rentals and services
|
20
|
2,915
|
1,365
|
Income
from expenses and collective promotion fund
|
20
|
963
|
619
|
Operating
costs
|
21
|
(1,406)
|
(999)
|
Gross profit
|
|
2,472
|
985
|
Net
(loss)/gain from fair value adjustments of investment
properties
|
8
|
(5,679)
|
24,801
|
General
and administrative expenses
|
21
|
(449)
|
(707)
|
Selling
expenses
|
21
|
(263)
|
(614)
|
Other
operating results, net
|
22
|
51
|
15
|
(Loss)/ profit from operations
|
|
(3,868)
|
24,480
|
Share
of (loss)/ profit of associates and joint ventures
|
7
|
(102)
|
904
|
(Loss)/ profit from operations before financing and
taxation
|
|
(3,970)
|
25,384
|
Finance
income
|
23
|
87
|
644
|
Finance
cost
|
23
|
(1,481)
|
(1,720)
|
Other
financial results
|
23
|
2,004
|
1,988
|
Inflation
adjustment
|
23
|
515
|
414
|
Financial results, net
|
|
1,125
|
1,326
|
(Loss)/ profit before income tax
|
|
(2,845)
|
26,710
|
Income
tax expense
|
19
|
1,044
|
(6,435)
|
(Loss)/ profit for the period
|
|
(1,801)
|
20,275
|
|
|
|
|
Other comprehensive income/ (loss) for the period: (i)
|
|
|
|
Items that can be reclassified subsequently to profit or
loss:
|
|
|
|
Currency
translation adjustment in associates
|
7
|
2
|
(18)
|
Other comprehensive income/ (loss) for the period
|
|
2
|
(18)
|
Total comprehensive (loss)/ income for the period
|
|
(1,799)
|
20,257
|
|
|
|
|
Total comprehensive (loss)/ income attributable to:
|
|
|
|
Equity
holders of the parent
|
|
(1,709)
|
18,828
|
Non-controlling
interest
|
|
(92)
|
1,447
|
|
|
|
|
Attributable to:
|
|
|
|
Equity
holders of the parent
|
|
2
|
(18)
|
|
|
|
|
(Loss)/ profit per share
attributable to equity holders of the parent for the period:
(ii)
|
|
|
|
Basic
|
|
(3.16)
|
34.80
|
Diluted
|
|
(3.16)
|
34.80
|
|
Share capital
|
Inflation adjustment of share capital
|
Legal reserve
|
Other reserves
|
Accumulated deficit
|
Subtotal
|
Non-controlling interest
|
Total shareholders' equity
|
Balance as of June 30, 2021
|
54,123
|
34,716
|
1,622
|
11,032
|
(22,304)
|
79,189
|
6,064
|
85,253
|
Loss
for the period
|
-
|
-
|
-
|
-
|
(1,709)
|
(1,709)
|
(92)
|
(1,801)
|
Other
comprehensive income for the period
|
-
|
-
|
-
|
2
|
-
|
2
|
-
|
2
|
Balance as of September 30, 2021
|
54,123
|
34,716
|
1,622
|
11,034
|
(24,013)
|
77,482
|
5,972
|
83,454
|
|
Special reserve
|
Other reserves
|
Currency translation adjustment
|
Revaluation surplus (1)
|
Changes in non-controlling interest
|
Total other reserves
|
Balance as of June 30, 2021
|
10,727
|
110
|
(62)
|
618
|
(361)
|
11,032
|
Other
comprehensive income for the period
|
-
|
-
|
2
|
-
|
-
|
2
|
Balance as of September 30, 2021
|
10,727
|
110
|
(60)
|
618
|
(361)
|
11,034
|
|
Share capital
|
Inflation adjustment of share capital
|
Share premium
|
Legal reserve
|
Special reserve CNV 609/12 (1)
|
Other reserves
|
Retained earnings
|
Subtotal
|
Non-controlling interest
|
Total shareholders' equity
|
Balance as of June 30, 2020
|
126
|
5,646
|
15,857
|
220
|
15,153
|
52,284
|
28,050
|
117,336
|
6,712
|
124,048
|
Profit
for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
18,828
|
18,828
|
1,447
|
20,275
|
Other
comprehensive loss for the period
|
-
|
-
|
-
|
-
|
-
|
(18)
|
-
|
(18)
|
-
|
(18)
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
-
|
(63)
|
-
|
(63)
|
(18)
|
(81)
|
Balance as of September 30, 2020
|
126
|
5,646
|
15,857
|
220
|
15,153
|
52,203
|
46,878
|
136,083
|
8,141
|
144,224
|
|
Reserve for future dividends
|
Special reserve
|
Currency translation adjustment
|
Revaluation surplus (1)
|
Changes in non-controlling interest
|
Total other reserves
|
Balance as of June 30, 2020
|
51,921
|
247
|
(35)
|
448
|
(297)
|
52,284
|
Other
comprehensive loss for the period
|
-
|
-
|
(18)
|
-
|
-
|
(18)
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
(63)
|
(63)
|
Balance as of September 30, 2020
|
51,921
|
247
|
(53)
|
448
|
(360)
|
52,203
|
|
Note
|
09.30.21
|
09.30.20
|
Operating activities:
|
|
|
|
Cash
generated from/ (used in) operations
|
15
|
1,620
|
(5,867)
|
Income
tax paid
|
|
(6)
|
(5)
|
Net cash generated from/ (used in) operating
activities
|
|
1,614
|
(5,872)
|
|
|
|
|
Investing activities:
|
|
|
|
Capital
contributions in associates and joint ventures
|
|
(27)
|
(14)
|
Changes
in non-controlling interest in subsidiaries
|
|
-
|
(81)
|
Acquisition
of investment properties
|
|
(370)
|
(1,075)
|
Proceeds
from sales of investment properties
|
|
85
|
14,639
|
Acquisition
of property, plant and equipment
|
|
(82)
|
(8)
|
Advance
payments
|
|
(9)
|
(17)
|
Acquisition
of intangible assets
|
|
(3)
|
(6)
|
Acquisitions
of investments in financial assets
|
|
(819)
|
(8,480)
|
Proceeds
from investments in financial assets
|
|
614
|
9,054
|
Loans
granted to related parties
|
|
-
|
(337)
|
Loans
payment received from related parties
|
|
1,971
|
-
|
Collection
of financial assets interests and dividends
|
|
189
|
239
|
Net cash generated from investing activities
|
|
1,549
|
13,914
|
|
|
|
|
Financing activities:
|
|
|
|
Repurchase
of non-convertible notes
|
|
-
|
(101)
|
Sales
of non-convertible notes in portfolio
|
|
-
|
768
|
Borrowings
obtained
|
|
-
|
1,525
|
Payment
of borrowings
|
|
(271)
|
(1,994)
|
Payment
of finance leases
|
|
-
|
(15,477)
|
Payment
of leases liabilities
|
|
(6)
|
(8)
|
Payment
of derivative financial instruments
|
|
(15)
|
(326)
|
Proceeds
from derivative financial instruments
|
|
-
|
14
|
Payment
of interest
|
|
(1,945)
|
(2,436)
|
Short-term
loans, net
|
|
(512)
|
6,364
|
Net cash used in financing activities
|
|
(2,749)
|
(11,671)
|
|
|
|
|
Net increase/ (decrease) in cash and cash equivalents
|
|
414
|
(3,629)
|
Cash
and cash equivalents at beginning of the period
|
13
|
867
|
7,595
|
Foreign
exchange gain on cash and fair value result for cash
equivalents
|
|
44
|
50
|
Inflation
adjustment
|
|
(337)
|
(11)
|
Cash and cash equivalents at end of the period
|
13
|
988
|
4,005
|
Price variation:
|
09.30.21 (three months)
|
|
9%
|
|
09.30.21
|
||||||||
|
Shopping Malls
|
Offices
|
Sales and developments
|
Others
|
Total segment reporting
|
Adjustment for expenses and collective promotion funds
|
Adjustment for share in (profit) / loss of joint
ventures
|
Unreportable assets
|
Total as per Statements of Income and Other Comprehensive
Income/Statements of Financial Position
|
Revenues
|
2,225
|
705
|
-
|
9
|
2,939
|
963
|
(24)
|
-
|
3,878
|
Operating
costs
|
(274)
|
(47)
|
(17)
|
(85)
|
(423)
|
(998)
|
15
|
-
|
(1,406)
|
Gross profit/ (loss)
|
1,951
|
658
|
(17)
|
(76)
|
2,516
|
(35)
|
(9)
|
-
|
2,472
|
Net
(loss)/ gain from fair value adjustments in investment
properties
|
(3,698)
|
(1,586)
|
(517)
|
8
|
(5,793)
|
-
|
114
|
-
|
(5,679)
|
General
and administrative expenses
|
(312)
|
(76)
|
(30)
|
(32)
|
(450)
|
-
|
1
|
-
|
(449)
|
Selling
expenses
|
(208)
|
(46)
|
(6)
|
(2)
|
(262)
|
-
|
(1)
|
-
|
(263)
|
Other
operating results, net
|
26
|
9
|
(2)
|
-
|
33
|
17
|
1
|
-
|
51
|
Loss from operations
|
(2,241)
|
(1,041)
|
(572)
|
(102)
|
(3,956)
|
(18)
|
106
|
-
|
(3,868)
|
Share
of loss of associates and joint ventures
|
-
|
-
|
-
|
(31)
|
(31)
|
-
|
(71)
|
-
|
(102)
|
Loss before financing and taxation
|
(2,241)
|
(1,041)
|
(572)
|
(133)
|
(3,987)
|
(18)
|
35
|
-
|
(3,970)
|
Investment
properties
|
56,144
|
79,211
|
22,531
|
165
|
158,051
|
-
|
(5,017)
|
-
|
153,034
|
Property,
plant and equipment
|
307
|
1,240
|
-
|
-
|
1,547
|
-
|
(3)
|
-
|
1,544
|
Trading
properties
|
-
|
-
|
259
|
-
|
259
|
-
|
-
|
-
|
259
|
Goodwill
|
17
|
51
|
-
|
149
|
217
|
-
|
(68)
|
-
|
149
|
Right
to receive units (barters)
|
-
|
-
|
1,143
|
-
|
1,143
|
-
|
-
|
-
|
1,143
|
Inventories
|
45
|
-
|
-
|
-
|
45
|
-
|
(1)
|
-
|
44
|
Investments
in associates and joint ventures
|
-
|
-
|
-
|
1,179
|
1,179
|
-
|
3,449
|
-
|
4,628
|
Other
assets
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
25,957
|
25,957
|
Total assets
|
56,513
|
80,502
|
23,933
|
1,493
|
162,441
|
-
|
(1,640)
|
25,957
|
186,758
|
|
09.30.20
|
||||||||
|
Shopping Malls |
Offices
|
Sales and developments
|
Others
|
Total segment reporting
|
Adjustment for expenses and collective promotion funds
|
Adjustment for share in (profit) / loss of joint
ventures
|
Unreportable assets
|
Total as per Statements of Income and Other Comprehensive
Income/Statements of Financial Position
|
Revenues
|
560
|
811
|
3
|
3
|
1,377
|
619
|
(12)
|
-
|
1,984
|
Operating
costs
|
(204)
|
(67)
|
(11)
|
(37)
|
(319)
|
(698)
|
18
|
-
|
(999)
|
Gross profit/ (loss)
|
356
|
744
|
(8)
|
(34)
|
1,058
|
(79)
|
6
|
-
|
985
|
Net
gain from fair value adjustments in investment
properties
|
1,796
|
19,209
|
5,045
|
27
|
26,077
|
-
|
(1,276)
|
-
|
24,801
|
General
and administrative expenses
|
(500)
|
(130)
|
(52)
|
(27)
|
(709)
|
-
|
2
|
-
|
(707)
|
Selling
expenses
|
(111)
|
(50)
|
(453)
|
(2)
|
(616)
|
-
|
2
|
-
|
(614)
|
Other
operating results, net
|
(28)
|
-
|
(3)
|
-
|
(31)
|
46
|
-
|
-
|
15
|
Profit/ (loss) from operations
|
1,513
|
19,773
|
4,529
|
(36)
|
25,779
|
(33)
|
(1,266)
|
-
|
24,480
|
Share
of (loss)/ profit of associates and joint ventures
|
-
|
-
|
-
|
(36)
|
(36)
|
-
|
940
|
-
|
904
|
Profit/ (loss) before financing and taxation
|
1,513
|
19,773
|
4,529
|
(72)
|
25,743
|
(33)
|
(326)
|
-
|
25,384
|
Investment
properties
|
82,524
|
106,065
|
21,616
|
151
|
210,356
|
-
|
(6,270)
|
-
|
204,086
|
Property,
plant and equipment
|
351
|
209
|
-
|
-
|
560
|
-
|
(3)
|
-
|
557
|
Trading
properties
|
-
|
-
|
310
|
-
|
310
|
-
|
-
|
-
|
310
|
Goodwill
|
17
|
47
|
-
|
-
|
64
|
-
|
(64)
|
-
|
-
|
Right
to receive units (barters)
|
-
|
-
|
1,142
|
-
|
1,142
|
-
|
-
|
-
|
1,142
|
Inventories
|
63
|
-
|
-
|
-
|
63
|
-
|
(2)
|
-
|
61
|
Investments
in associates and joint ventures
|
-
|
-
|
-
|
3,661
|
3,661
|
-
|
4,832
|
-
|
8,493
|
Other
assets
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
39,127
|
39,127
|
Total assets
|
82,955
|
106,321
|
23,068
|
3,812
|
216,156
|
-
|
(1,507)
|
39,127
|
253,776
|
|
% of ownership interest held by non-controlling
interests
|
Value of Group’s interest in equity
|
Group’s interest in comprehensive income
|
|||
Name of the entity
|
09.30.21
|
06.30.21
|
09.30.21
|
06.30.21
|
09.30.21
|
06.30.21
|
Joint Ventures
|
|
|
|
|
|
|
Quality
Invest S.A.
|
50.00%
|
50.00%
|
3,154
|
3,198
|
(72)
|
949
|
Nuevo
Puerto Santa Fe S.A.
|
50.00%
|
50.00%
|
295
|
294
|
1
|
(9)
|
La
Rural S.A. (2)
|
50.00%
|
50.00%
|
178
|
185
|
(6)
|
24
|
Associates
|
|
|
|
|
|
-
|
TGLT
S.A. (3)(4)
|
27.82%
|
27.82%
|
1,001
|
1,024
|
(23)
|
(78)
|
Total interests in associates and joint ventures
|
|
|
4,628
|
4,701
|
(100)
|
886
|
|
|
|
|
Last Financial Information issued
|
||
Name of the entity
|
Place of business / Country of incorporation
|
Main activity
|
Common shares
|
Share capital (nominal value)
|
(Loss)/ income for the period
|
Equity
|
Joint Ventures
|
|
|
|
|
|
|
Quality
Invest S.A. (2)
|
Argentina
|
Real
estate
|
406,316,259
|
406
|
(144)
|
6,206
|
Nuevo
Puerto Santa Fe S.A. (1)(2)
|
Argentina
|
Real
estate
|
138,750
|
28
|
2
|
555
|
La
Rural S.A. (2)
|
Argentina
|
Event
organization and others
|
714,498
|
1
|
(2)
|
101
|
Associates
|
|
|
|
|
|
|
TGLT
S.A. (3)(4)
|
Argentina
|
Real
estate
|
257,320,997
|
925
|
(82)
|
4,635
|
|
09.30.21
|
06.30.21
|
Beginning of the period / year
|
4,701
|
7,611
|
Loss
sharing, net
|
(100)
|
(2,214)
|
Currency
translation adjustment in associates
|
2
|
(27)
|
Impairment
of associates and joint ventures (i)
|
(2)
|
(684)
|
Reclassification
to financial instruments (ii)
|
-
|
(17)
|
Irrevocable
contributions (Note 24)
|
27
|
32
|
End of the period / year
|
4,628
|
4,701
|
|
Shopping Malls
|
Office and Other rental properties
|
Undeveloped parcels of land
|
Properties under development
|
Others
|
09.30.21
|
06.30.21
|
Fair value at beginning of the period / year
|
55,532
|
75,863
|
23,130
|
3,629
|
157
|
158,311
|
192,854
|
Additions
(iv)
|
222
|
2
|
3
|
260
|
-
|
487
|
1,072
|
Disposals
(iii)
|
-
|
-
|
(85)
|
-
|
-
|
(85)
|
(19,750)
|
Transfers
(v)
|
-
|
-
|
-
|
-
|
-
|
-
|
(634)
|
Capitalized
lease costs
|
3
|
2
|
-
|
-
|
-
|
5
|
23
|
Amortization
of capitalized lease costs (i)
|
(2)
|
(3)
|
-
|
-
|
-
|
(5)
|
(14)
|
Net
(loss) / gain from fair value adjustment on investment properties
(ii)
|
(3,652)
|
(1,492)
|
(517)
|
(26)
|
8
|
(5,679)
|
(15,240)
|
Fair value at end of the period / year
|
52,103
|
74,372
|
22,531
|
3,863
|
165
|
153,034
|
158,311
|
|
09.30.21
|
09.30.20
|
Revenues
from rental and services (Note 20)
|
2,915
|
1,362
|
Expenses
and collective promotion fund (Note 20)
|
963
|
619
|
Rental
and services costs (Note 21)
|
(1,385)
|
(988)
|
Net
unrealized gain from fair value adjustment on investment
properties
|
(5,611)
|
24,516
|
Net
realized gain from fair value adjustment on investment properties
(i)(ii)
|
18
|
8,163
|
|
Other buildings and facilities
|
Furniture and fixtures
|
Machinery and equipment
|
Vehicles
|
Others
|
09.30.21
|
06.30.21
|
Costs
|
1,626
|
510
|
2,494
|
32
|
1
|
4,663
|
3,584
|
Accumulated
depreciation
|
(465)
|
(350)
|
(2,314)
|
(32)
|
-
|
(3,161)
|
(3,005)
|
Net book amount at beginning of the period / year
|
1,161
|
160
|
180
|
-
|
1
|
1,502
|
579
|
Additions
|
8
|
54
|
20
|
-
|
-
|
82
|
192
|
Disposals
|
-
|
-
|
-
|
-
|
-
|
-
|
(8)
|
Transfers
|
-
|
-
|
-
|
-
|
-
|
-
|
895
|
Depreciation
charges (i)
|
(13)
|
(7)
|
(20)
|
-
|
-
|
(40)
|
(156)
|
Net book amount at end of the period / year
|
1,156
|
207
|
180
|
-
|
1
|
1,544
|
1,502
|
Costs
|
1,634
|
564
|
2,514
|
32
|
1
|
4,745
|
4,663
|
Accumulated
depreciation
|
(478)
|
(357)
|
(2,334)
|
(32)
|
-
|
(3,201)
|
(3,161)
|
Net book amount at end of the period / year
|
1,156
|
207
|
180
|
-
|
1
|
1,544
|
1,502
|
|
Completed properties
|
Undeveloped sites
|
09.30.21
|
06.30.21
|
Net book amount at beginning of the period / year
|
13
|
246
|
259
|
310
|
Additions
|
-
|
-
|
-
|
8
|
Disposals
(i)
|
-
|
-
|
-
|
(59)
|
Net book amount at end of the period / year
|
13
|
246
|
259
|
259
|
Non
- current
|
|
|
254
|
254
|
Current
|
|
|
5
|
5
|
Total
|
|
|
259
|
259
|
|
|
|
|
|
|
Goodwill
|
Software
|
Right to receive units (Barters) (ii)
|
Others
|
09.30.21
|
06.30.21
|
Costs
|
149
|
764
|
1,151
|
543
|
2,607
|
2,557
|
Accumulated
amortization
|
-
|
(567)
|
(8)
|
(421)
|
(996)
|
(887)
|
Net book amount at beginning of the period / year
|
149
|
197
|
1,143
|
122
|
1,611
|
1,670
|
Additions
|
-
|
3
|
-
|
-
|
3
|
50
|
Disposals
|
-
|
-
|
-
|
(122)
|
(122)
|
-
|
Amortization
charge (i)
|
-
|
(22)
|
-
|
-
|
(22)
|
(109)
|
Net book amount at end of the period / year
|
149
|
178
|
1,143
|
-
|
1,470
|
1,611
|
Costs
|
149
|
767
|
1,151
|
421
|
2,488
|
2,607
|
Accumulated
amortization
|
-
|
(589)
|
(8)
|
(421)
|
(1,018)
|
(996)
|
Net book amount at end of the period / year
|
149
|
178
|
1,143
|
-
|
1,470
|
1,611
|
|
09.30.21
|
06.30.21
|
Convention
center
|
218
|
222
|
Stadium
DirecTV Arena
|
633
|
641
|
Machinery
and equipment
|
8
|
11
|
Shopping
malls
|
12
|
12
|
Total rights of use assets
|
871
|
886
|
Non-current
|
871
|
886
|
Total
|
871
|
886
|
|
09.30.21
|
09.30.20
|
Convention
center
|
(4)
|
(5)
|
Stadium
DirecTV Arena
|
(8)
|
(8)
|
Machinery
and equipment
|
(2)
|
(21)
|
Total amortizations and depreciation (i)
|
(14)
|
(34)
|
|
Financial assets at amortized cost (i)
|
Financial assets at fair value through profit or loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
September 30, 2021
|
|
Level 1
|
|
|
|
Assets as per Statements of Financial Position
|
|
|
|
|
|
Trade
and other receivables (excluding allowance for doubtful accounts)
(Note 14)
|
9,935
|
-
|
9,935
|
2,684
|
12,619
|
Investments
in financial assets:
|
|
|
|
|
|
-
Public companies’ securities
|
-
|
245
|
245
|
-
|
245
|
-
Mutual funds
|
10
|
206
|
216
|
-
|
216
|
-
Bonds
|
-
|
11,149
|
11,149
|
-
|
11,149
|
Cash
and cash equivalents:
|
|
|
|
|
|
-
Cash at banks and on hand
|
697
|
-
|
697
|
-
|
697
|
-
Short- term investments
|
-
|
291
|
291
|
-
|
291
|
Total
|
10,642
|
11,891
|
22,533
|
2,684
|
25,217
|
|
Financial liabilities at amortized cost (i)
|
Financial liabilities at fair value through profit or
loss
|
Subtotal financial liabilities
|
Non-financial liabilities
|
Total
|
|
|
Level 2
|
|
|
|
Liabilities as per Statements of Financial Position
|
|
|
|
|
|
Trade
and other payables (Note 16)
|
2,036
|
-
|
2,036
|
4,061
|
6,097
|
Derivative
financial instruments
|
|
|
|
|
|
-
Swaps of interest rate (ii)
|
-
|
45
|
45
|
-
|
45
|
Borrowings
(Note 17)
|
42,611
|
-
|
42,611
|
-
|
42,611
|
Total
|
44,647
|
45
|
44,692
|
4,061
|
48,753
|
|
Financial assets at amortized cost (i)
|
Financial assets at fair value through profit or loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
June 30, 2021
|
|
Level 1
|
|
|
|
Assets as per Statements of Financial Position
|
|
|
|
|
|
Trade
and other receivables (excluding allowance for doubtful accounts)
(Note 14)
|
14,073
|
-
|
14,073
|
3,005
|
17,078
|
Investments
in financial assets:
|
|
|
|
|
|
-
Public companies’ securities
|
-
|
356
|
356
|
-
|
356
|
-
Mutual funds
|
11
|
22
|
33
|
-
|
33
|
-
Bonds
|
-
|
8,479
|
8,479
|
-
|
8,479
|
Cash
and cash equivalents:
|
|
|
|
|
|
-
Cash at banks and on hand
|
547
|
-
|
547
|
-
|
547
|
-
Short- term investments
|
-
|
320
|
320
|
-
|
320
|
Total
|
14,631
|
9,177
|
23,808
|
3,005
|
26,813
|
|
Financial liabilities at amortized cost (i)
|
Financial liabilities at fair value through profit or
loss
|
Subtotal financial liabilities
|
Non-financial liabilities
|
Total
|
|
|
Level 2
|
|
|
|
Liabilities as per Statements of Financial Position
|
|
|
|
|
|
Trade
and other payables (Note 16)
|
2,039
|
-
|
2,039
|
3,749
|
5,788
|
Derivative
financial instruments
|
|
|
|
|
|
-
Swaps of interest rate (ii)
|
-
|
63
|
63
|
-
|
63
|
Borrowings
(Note 17)
|
46,906
|
-
|
46,906
|
-
|
46,906
|
Total
|
48,945
|
63
|
49,008
|
3,749
|
52,757
|
Description
|
|
Pricing model
|
|
Parameters
|
|
Fair value hierarchy
|
|
Range
|
Foreign-currency contracts
|
|
Present value method - Theoretical price
|
|
Underlying asset price (Money market curve); Interest
curve
|
|
Level 2
|
|
-
|
|
|
Foreign exchange curve
|
|
|
||||
|
|
|
|
|
|
|
|
|
Swaps of interest rate
|
|
Discounted cash flow
|
|
Interest rate futures
|
|
Level 2
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
09.30.21
|
06.30.21
|
Lease
and services receivables
|
1,961
|
1,781
|
Post-dated
checks
|
651
|
620
|
Averaging
of scheduled rent escalation
|
1,153
|
1,327
|
Debtors
under legal proceedings
|
826
|
601
|
Property
sales receivables
|
191
|
204
|
Consumer
financing receivables
|
16
|
18
|
Less:
allowance for doubtful accounts
|
(956)
|
(917)
|
Total trade receivables
|
3,842
|
3,634
|
Loans
|
1,480
|
1,566
|
Advance
payments
|
641
|
691
|
Others
(*)
|
313
|
321
|
Prepayments
|
356
|
457
|
Other
tax receivables
|
339
|
346
|
Expenses
to be recovered
|
43
|
41
|
Guarantee
deposit
|
-
|
10
|
Total other receivables
|
3,172
|
3,432
|
Related
parties (Note 24)
|
4,649
|
9,095
|
Total trade and other receivables
|
11,663
|
16,161
|
Non-current
|
1,255
|
1,337
|
Current
|
10,408
|
14,824
|
Total
|
11,663
|
16,161
|
|
09.30.21
|
06.30.21
|
Beginning of the period / year
|
917
|
1,015
|
Additions
(i)
|
146
|
457
|
Unused
amounts reversed (i)
|
(34)
|
(245)
|
Inflation
adjustment
|
(73)
|
(310)
|
End of the period / year
|
956
|
917
|
|
Note
|
09.30.21
|
09.30.20
|
(Loss)/ profit for the period
|
|
(1,801)
|
20,275
|
Adjustments:
|
|
|
|
Income
tax
|
19
|
(1,044)
|
6,435
|
Amortization
and depreciation
|
21
|
81
|
108
|
Net
loss/ (gain) from fair value adjustment on investment
properties
|
8
|
5,679
|
(24,801)
|
Disposals
by concession maturity
|
|
-
|
2
|
Averaging
of schedule rent escalation
|
20
|
42
|
26
|
Directors’
fees
|
24
|
107
|
395
|
Financial
results, net
|
|
(1,415)
|
(7,225)
|
Provisions
and allowances
|
|
125
|
91
|
Share
of loss/ (profit) of associates and joint ventures
|
7
|
102
|
(904)
|
Changes in operating assets and liabilities
|
|
|
|
Decrease
in inventories
|
|
2
|
3
|
Decrease/
(increase) in trade and other receivables
|
|
21
|
(238)
|
(Decrease)/
increase in trade and other payables
|
|
(170)
|
104
|
Decrease
in payroll and social security liabilities
|
|
(89)
|
(120)
|
Uses
of provisions
|
18
|
(20)
|
(18)
|
Net cash generated from/ (used in) operating activities before
income tax paid
|
|
1,620
|
(5,867)
|
|
09.30.21
|
09.30.20
|
Non-cash transactions
|
|
|
Increase
in trade and other receivables through a decrease in investment in
financial assets
|
-
|
6,289
|
Increase
in investment properties through an increase in trade and other
payables
|
122
|
-
|
Increase
in rights of use assets through an increase in leases
liabilities
|
-
|
37
|
Increase
in financial assets through an increase in borrowings
|
-
|
27
|
Currency
translation adjustment in associates
|
2
|
18
|
Increase
in investment in financial assets through a decrease in trade and
other receivables
|
2,911
|
557
|
Increase
in investment in financial assets through a decrease in investments
in associates and joint ventures
|
-
|
17
|
Decrease
in finance leases through a decrease in trade and other
receivables
|
1
|
-
|
|
09.30.21
|
06.30.21
|
Rent
and service payments received in advance
|
1,469
|
1,486
|
Admission
rights
|
1,181
|
1,180
|
Accrued
invoices
|
412
|
431
|
Trade
payables
|
656
|
725
|
Tenant
deposits
|
80
|
95
|
Payments
received in advance
|
277
|
298
|
Total trade payables
|
4,075
|
4,215
|
Tax
payable
|
1,043
|
691
|
Others
|
220
|
239
|
Other
payments received in advance to be accrued
|
83
|
85
|
Tax
payment plans
|
6
|
7
|
Total other payables
|
1,352
|
1,022
|
Related
parties (Note 24)
|
670
|
551
|
Total trade and other payables
|
6,097
|
5,788
|
Non-current
|
1,591
|
1,443
|
Current
|
4,506
|
4,345
|
Total
|
6,097
|
5,788
|
|
Book Value at 09.30.21
|
Book Value at 06.30.21
|
Fair Value at 09.30.21
|
Fair Value at 06.30.21
|
Non-Convertible
notes
|
35,044
|
37,905
|
33,911
|
35,062
|
Bank
loans
|
2,048
|
2,344
|
2,048
|
2,359
|
Bank
overdrafts
|
4,733
|
5,766
|
4,733
|
5,766
|
AABE
Debts
|
281
|
282
|
281
|
282
|
Finance
leases
|
53
|
55
|
53
|
55
|
Related
parties (Note 24)
|
452
|
554
|
452
|
554
|
Total borrowings
|
42,611
|
46,906
|
41,478
|
44,078
|
Non-current
|
36,247
|
38,454
|
|
|
Current
|
6,364
|
8,452
|
|
|
Total
|
42,611
|
46,906
|
|
|
|
Labor, legal and other claims
|
09.30.21
|
06.30.21
|
Balances at the beginning of the period/ year
|
180
|
180
|
189
|
Inflation
adjustment
|
(14)
|
(14)
|
(72)
|
Increases
(i)
|
13
|
13
|
78
|
Recovery
(i)
|
-
|
-
|
(5)
|
Used
during the period / year
|
(6)
|
(6)
|
(10)
|
Balances at the end of the period/ year
|
173
|
173
|
180
|
Non-current
|
|
86
|
88
|
Current
|
|
87
|
92
|
Total
|
|
173
|
180
|
|
09.30.21
|
09.30.20
|
Current
income tax (i)
|
(1,422)
|
(2)
|
Deferred
income tax
|
2,466
|
(6,433)
|
Income tax - Profit/ (Loss)
|
1,044
|
(6,435)
|
|
09.30.21
|
06.30.21
|
Beginning of the period / year
|
(52,861)
|
(38,997)
|
Income
tax
|
2,466
|
(13,773)
|
Revaluation
surplus
|
-
|
(91)
|
Period / year end
|
(50,395)
|
(52,861)
|
|
09.30.21
|
09.30.20
|
Loss/
(profit) for the period before income tax at the prevailing tax
rate
|
996
|
(8,013)
|
Tax
effects of:
|
|
|
Rate
change
|
-
|
1,926
|
Share
of (loss)/ profit of associates and joint ventures
|
(36)
|
271
|
Result
by rate transparency
|
(157)
|
91
|
Special
tax revaluation
|
56
|
-
|
Loss
forecast
|
(48)
|
(53)
|
Expiration
of carry-forwards
|
(2)
|
(3)
|
Non-taxable,
non-deductible items
|
(1)
|
(3)
|
Difference
between provisions and affidavits
|
(2)
|
3
|
Minimum
presumed income tax
|
-
|
8
|
Inflation
adjustment
|
977
|
(287)
|
Tax
inflation adjustment
|
(738)
|
(520)
|
Others
|
(1)
|
145
|
Income tax - Profit/ (loss)
|
1,044
|
(6,435)
|
|
09.30.21
|
09.30.20
|
Base
rent
|
1,465
|
969
|
Contingent
rent
|
1,098
|
96
|
Admission
rights
|
197
|
224
|
Averaging
of scheduled rent escalation
|
(42)
|
(26)
|
Commissions
|
54
|
44
|
Property
management fees
|
36
|
41
|
Parking
fees
|
62
|
4
|
Others
|
45
|
10
|
Total revenues from rentals and services
|
2,915
|
1,362
|
Sale
of trading properties
|
-
|
3
|
Total revenues from sale of properties
|
-
|
3
|
Total revenues from sales, rentals and services
|
2,915
|
1,365
|
Expenses
and collective promotion fund
|
963
|
619
|
Total revenues from expenses and collective promotion
funds
|
963
|
619
|
Total revenues
|
3,878
|
1,984
|
|
Costs (ii)
|
General and administrative expenses
|
Selling expenses
|
09.30.21
|
09.30.20
|
Salaries,
social security costs and other personnel administrative expenses
(i)
|
508
|
174
|
10
|
692
|
623
|
Maintenance,
security, cleaning, repairs and other
|
437
|
28
|
-
|
465
|
360
|
Taxes,
rates and contributions
|
153
|
4
|
126
|
283
|
433
|
Directors'
fees
|
-
|
107
|
-
|
107
|
395
|
Fees
and payments for services
|
39
|
70
|
5
|
114
|
244
|
Advertising
and other selling expenses
|
175
|
-
|
6
|
181
|
35
|
Amortization
and depreciation (Notes 8, 9, 11 and 12)
|
46
|
35
|
-
|
81
|
108
|
Leases
and expenses
|
35
|
10
|
1
|
46
|
52
|
Traveling,
transportation and stationery
|
10
|
8
|
3
|
21
|
3
|
Bank
expenses
|
1
|
12
|
-
|
13
|
6
|
Allowance
for doubtful accounts (additions and unused amounts reversed) (Note
14)
|
-
|
-
|
112
|
112
|
61
|
Other
expenses
|
2
|
1
|
-
|
3
|
-
|
Total expenses by nature 09.31.21
|
1,406
|
449
|
263
|
2,118
|
-
|
Total expenses by nature 09.31.20
|
999
|
707
|
614
|
-
|
2,320
|
|
09.30.21
|
09.30.20
|
Interest
generated by operating credits
|
63
|
60
|
Management
fees
|
2
|
2
|
Others
|
6
|
2
|
Donations
|
(7)
|
(19)
|
Lawsuits
(Note 18)
|
(13)
|
(30)
|
Total other operating results, net
|
51
|
15
|
|
09.30.21
|
09.30.20
|
-
Interest income
|
87
|
644
|
Finance income
|
87
|
644
|
-
Interest expense
|
(1,369)
|
(1,507)
|
-
Others financial costs
|
(112)
|
(213)
|
Finance costs
|
(1,481)
|
(1,720)
|
Foreign
exchange, net
|
2,137
|
(139)
|
-
Fair value (loss)/ gain of financial assets at fair value through
profit or loss
|
(135)
|
2,370
|
-
Gain/ (loss) from derivative financial instruments
|
3
|
(274)
|
-
(Loss)/ gain from repurchase of non-convertible notes
|
(1)
|
31
|
Other financial results
|
2,004
|
1,988
|
-
Inflation adjustment
|
515
|
414
|
Total financial results, net
|
1,125
|
1,326
|
Item
|
09.30.21
|
06.30.21
|
Trade
and other receivables
|
4,649
|
9,095
|
Investments
in financial assets
|
10,485
|
7,980
|
Trade
and other payables
|
(670)
|
(551)
|
Borrowings
|
(452)
|
(554)
|
Leases
liabilities
|
(2)
|
(7)
|
Total
|
14,010
|
15,963
|
Related parties
|
09.30.21
|
06.30.21
|
Description of transaction
|
IRSA
Inversiones y Representaciones Sociedad Anónima
(IRSA)
|
(118)
|
(155)
|
Received
advances
|
|
8,192
|
5,530
|
Non-convertible
notes
|
|
4,188
|
8,639
|
Loans
granted
|
|
62
|
55
|
Corporate
services
|
|
12
|
13
|
Equity
incentive plan
|
|
18
|
7
|
Reimbursement
of expenses
|
|
3
|
1
|
Averaging
|
|
(255)
|
(276)
|
Borrowings
|
|
3
|
11
|
Leases
and/or rights to use space
|
|
(15)
|
(16)
|
Equity
incentive plan to pay
|
|
-
|
2
|
Lease
collections
|
Total direct parent company
|
12,090
|
13,811
|
|
Cresud
S.A.CI.F. y A.
|
2,282
|
2,450
|
Non-convertible
notes
|
|
(3)
|
(3)
|
Equity
incentive plan to pay
|
|
14
|
8
|
Leases
and/or rights to use space
|
|
(1)
|
-
|
Other
payables
|
|
(1)
|
(31)
|
Reimbursement
of expenses to pay
|
|
24
|
-
|
Averaging
|
|
(275)
|
(154)
|
Corporate
services to pay
|
Total direct parent company of IRSA
|
2,040
|
2,270
|
|
La
Rural S.A.
|
204
|
223
|
Dividends
|
|
(3)
|
(15)
|
Leases
and/or rights to use space to pay
|
|
75
|
80
|
Loans
granted
|
Other
associates and joint ventures
|
(2)
|
(7)
|
Leases
liabilities
|
|
1
|
2
|
Reimbursement
of expenses
|
|
6
|
5
|
Loans
granted
|
|
5
|
4
|
Management
fee
|
|
-
|
1
|
Lease
collections
|
|
(2)
|
(2)
|
Leases
and/or rights to use space to pay
|
Total associates and joint ventures
|
284
|
291
|
|
Directors
|
(199)
|
(117)
|
Fees
|
Total Directors
|
(199)
|
(117)
|
|
IRSA
International LLC
|
(30)
|
(32)
|
Other
payables
|
Helmir
S.A.
|
(33)
|
(35)
|
Borrowings
|
OFC
S.R.L.
|
1
|
1
|
Other
receivables
|
|
(20)
|
(22)
|
Other
payables
|
Others
|
12
|
17
|
Reimbursement
of expenses
|
|
14
|
5
|
Leases
and/or rights to use space
|
|
(2)
|
-
|
Leases
and/or rights to use space to pay
|
|
-
|
(3)
|
Other
payables
|
|
7
|
21
|
Other
receivables
|
|
11
|
-
|
Other
investments
|
|
(164)
|
(243)
|
Borrowings
|
|
(1)
|
(1)
|
Legal
services to pay
|
Total others
|
(205)
|
(292)
|
|
Total at the end of the period / year
|
14,010
|
15,963
|
|
Related parties
|
09.30.21
|
09.30.20
|
Description of transaction
|
IRSA
Inversiones y Representaciones Sociedad Anónima
(IRSA)
|
13
|
6
|
Corporate
services
|
|
(14)
|
1,535
|
Financial
operations
|
|
6
|
3
|
Leases
and/or rights to use space
|
Total direct parent company
|
5
|
1,544
|
|
Cresud
S.A.CI.F. y A.
|
(3)
|
184
|
Financial
operations
|
|
(78)
|
3
|
Leases
and/or rights to use space
|
|
(159)
|
(156)
|
Corporate
services
|
Total direct parent company of IRSA
|
(240)
|
31
|
|
Helmir
S.A.
|
1
|
-
|
Dividends
accrued
|
Other
associates and joint ventures
|
2
|
2
|
Fees
|
|
(1)
|
-
|
Leases
and/or rights to use space
|
Total associates and joint ventures
|
2
|
2
|
|
Directors
|
(107)
|
(395)
|
Fees
|
Senior
Management
|
(18)
|
(15)
|
Fees
|
Total Directors
|
(125)
|
(410)
|
|
Banco
de Crédito y Securitización
|
20
|
21
|
Leases
and/or rights to use space
|
BHN
Vida S.A
|
4
|
5
|
Leases
and/or rights to use space
|
BHN
Seguros Generales S.A.
|
4
|
5
|
Leases
and/or rights to use space
|
IRSA
Internacional LLC
|
-
|
23
|
Financial
operations
|
Estudio
Zang, Bergel & Viñes
|
(5)
|
(8)
|
Fees
|
Others
|
(8)
|
-
|
Leases
and/or rights to use space
|
|
14
|
2
|
Financial
operations
|
Total others
|
29
|
48
|
|
Total at the end of the period
|
(329)
|
1,215
|
|
Related parties
|
09.30.21
|
09.30.20
|
Description of transaction
|
Quality
Invest S.A.
|
27
|
14
|
Irrevocable
contributions granted
|
Total irrevocable contributions
|
27
|
14
|
|
Exhibit A - Property, plant and equipment
|
Note 8 - Investment properties
|
|
Note 9 - Property, plant and equipment
|
Exhibit C - Equity investments
|
Note 7 - Investments in associates and joint ventures
|
Exhibit B - Intangible assets
|
Note 11 - Intangible assets
|
Exhibit D - Other investments
|
Note 13 - Financial instruments by category
|
Exhibit E - Provisions
|
Note 14 - Trade and other receivables
|
|
Note 18 - Provisions
|
Exhibit F - Cost of sales and services provided
|
Note 21 - Expenses by nature
|
|
Note 10 - Trading properties
|
Exhibit G - Foreign currency assets and liabilities
|
Note 26 - Foreign currency assets and liabilities
|
Items (1)
|
Amount (2)
|
Exchange rate (3)
|
09.30.21
|
06.30.21
|
Assets
|
|
|
|
|
Trade and other receivables
|
|
|
|
|
US
Dollar
|
25.01
|
98.54
|
2,464
|
2,499
|
Euros
|
0.08
|
113.88
|
9
|
11
|
Trade and other receivables with related parties
|
|
|
|
|
US
Dollar
|
0.09
|
98.74
|
9
|
38
|
Total trade and other receivables
|
|
|
2,482
|
2,548
|
Investments in financial assets
|
|
|
|
|
US
Dollar
|
7.71
|
98.54
|
760
|
727
|
Investment in financial assets with related parties
|
|
|
|
|
US
Dollar
|
97.23
|
98.74
|
9,600
|
7,052
|
Total investments in financial assets
|
|
|
10,360
|
7,779
|
Cash and cash equivalents
|
|
|
|
|
US
Dollar
|
6.41
|
98.54
|
632
|
513
|
Total cash and cash equivalents
|
|
|
632
|
513
|
Total Assets
|
|
|
13,474
|
10,840
|
Liabilities
|
|
|
|
|
Trade and other payables
|
|
|
|
|
US
Dollar
|
5.99
|
98.74
|
591
|
829
|
Euros
|
0.01
|
114.36
|
1
|
20
|
Trade and other payables with related parties
|
|
|
|
|
US
Dollar
|
0.34
|
98.74
|
34
|
32
|
Total trade and other payables
|
|
|
626
|
881
|
Borrowings
|
|
|
|
|
US
Dollar
|
371.34
|
98.74
|
36,666
|
40,082
|
Borrowings with related parties
|
|
|
|
|
US
Dollar
|
5.11
|
98.74
|
505
|
367
|
Total borrowings
|
|
|
37,171
|
40,449
|
Derivative financial instruments
|
|
|
|
|
US
Dollar
|
0.46
|
98.74
|
45
|
63
|
Total derivative financial instruments
|
|
|
45
|
63
|
Leases liabilities
|
|
|
|
|
US
Dollar
|
8.35
|
98.74
|
824
|
855
|
Leases liabilities with related parties
|
|
|
|
|
US
Dollar
|
0.02
|
98.74
|
2
|
7
|
Total leases liabilities
|
|
|
826
|
862
|
Total Liabilities
|
|
|
38,668
|
42,255
|
PRICE
WATERHOUSE & Co. S.R.L.
(Socio)
C.P.C.E.C.A.B.A.
Tº 1 Fº 17
Carlos
Brondo
Contador
Público (UNCUYO)
C.P.C.E.C.A.B.A.
T° 391 F° 078
|
|
ABELOVICH,
POLANO & ASOCIADOS S.R.L.
(Socio)
C.P.C.E.
C.A.B.A. T° 1 F° 30
Noemí
I. Cohn
Contador
Público (U.B.A.)
C.P.C.E. C.A.B.A. T° 116 F° 135
|
|
|
|
|
Note
|
09.30.21
|
06.30.21
|
ASSETS
|
|
|
|
Non-current assets
|
|
|
|
Investment
properties
|
7
|
107,509
|
111,499
|
Property,
plant and equipment
|
8
|
1,268
|
1,278
|
Trading
properties
|
9
|
123
|
123
|
Intangible
assets
|
10
|
1,264
|
1,278
|
Rights
of use assets
|
11
|
703
|
803
|
Investments
in subsidiaries, associates and joint ventures
|
6
|
39,712
|
40,575
|
Income
tax credits
|
|
5
|
5
|
Trade
and other receivables
|
13
|
1,164
|
633
|
Total non-current assets
|
|
151,748
|
156,194
|
Current Assets
|
|
|
|
Trading
properties
|
9
|
5
|
5
|
Inventories
|
|
35
|
37
|
Income
tax credits
|
|
26
|
28
|
Trade
and other receivables
|
13
|
8,296
|
13,236
|
Investments
in financial assets
|
12
|
10,358
|
7,814
|
Cash
and cash equivalents
|
12
|
74
|
59
|
Total current assets
|
|
18,794
|
21,179
|
TOTAL ASSETS
|
|
170,542
|
177,373
|
SHAREHOLDERS’ EQUITY
|
|
|
|
Capital
and reserves attributable to equity holders of the parent
(according to corresponding statement)
|
|
77,598
|
79,305
|
TOTAL SHAREHOLDERS’ EQUITY
|
|
77,598
|
79,305
|
LIABILITIES
|
|
|
|
Non-current liabilities
|
|
|
|
Trade
and other payables
|
15
|
1,228
|
1,081
|
Borrowings
|
16
|
35,439
|
37,511
|
Income
tax liabilities
|
|
1,327
|
-
|
Deferred
income tax liabilities
|
18
|
39,859
|
42,008
|
Other
liabilities
|
6
|
32
|
50
|
Provisions
|
17
|
74
|
76
|
Total non-current liabilities
|
|
77,959
|
80,726
|
Current liabilities
|
|
|
|
Trade
and other payables
|
15
|
3,739
|
3,773
|
Income
tax liabilities
|
|
939
|
1,027
|
Payroll
and social security liabilities
|
|
190
|
262
|
Borrowings
|
16
|
10,044
|
12,197
|
Leases
liabilities
|
|
4
|
9
|
Provisions
|
17
|
69
|
74
|
Total current liabilities
|
|
14,985
|
17,342
|
TOTAL LIABILITIES
|
|
92,944
|
98,068
|
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES
|
|
170,542
|
177,373
|
|
Note
|
09.30.21
|
09.30.20
|
Income
from sales, rentals and services
|
19
|
2,286
|
915
|
Income
from expenses and collective promotion fund
|
19
|
796
|
508
|
Operating
costs
|
20
|
(1,150)
|
(868)
|
Gross profit
|
|
1,932
|
555
|
Net
(loss)/ gain from fair value adjustments of investment
properties
|
7
|
(4,247)
|
14,927
|
General
and administrative expenses
|
20
|
(390)
|
(664)
|
Selling
expenses
|
20
|
(235)
|
(595)
|
Other
operating results, net
|
21
|
69
|
41
|
(Loss)/ profit from operations
|
|
(2,871)
|
14,264
|
Share
of (loss)/ profit of associates and joint ventures
|
6
|
(1,031)
|
7,150
|
(Loss)/ profit from operations before financing and
taxation
|
|
(3,902)
|
21,414
|
Finance
income
|
22
|
71
|
642
|
Finance
cost
|
22
|
(1,434)
|
(1,664)
|
Other
financial results
|
22
|
2,223
|
1,889
|
Inflation
adjustment
|
22
|
553
|
440
|
Financial
results, net
|
|
1,413
|
1,307
|
(Loss)/ profit before income tax
|
|
(2,489)
|
22,721
|
Income
tax expense
|
18
|
780
|
(3,893)
|
(Loss)/ profit for the period
|
|
(1,709)
|
18,828
|
|
|
|
|
Other comprehensive income/ (loss) for the period: (i)
|
|
|
|
Items that may be reclassified subsequently to profit or
loss:
|
|
|
|
Currency
translation adjustment of associates
|
6
|
2
|
(18)
|
Other comprehensive income/ (loss) for the period
|
|
2
|
(18)
|
Total comprehensive (loss)/ income for the period
|
|
(1,707)
|
18,810
|
(Loss)/ Income per share for the period: (ii)
|
|
|
|
Basic
|
|
(3.16)
|
34.80
|
Diluted
|
|
(3.16)
|
34.80
|
|
Share capital
|
Inflation adjustment of share capital
|
Legal Reserve
|
Other reserves
|
Accumulated deficit
|
Total shareholder’s equity
|
Balance as of June 30, 2021
|
54,123
|
34,716
|
1,622
|
11,148
|
(22,304)
|
79,305
|
Loss
for the period
|
-
|
-
|
-
|
-
|
(1,709)
|
(1,709)
|
Other
comprehensive income for the period
|
-
|
-
|
-
|
2
|
-
|
2
|
Balance as of September 30, 2021
|
54,123
|
34,716
|
1,622
|
11,150
|
(24,013)
|
77,598
|
|
Revaluation surplus (1)
|
Special reserve
|
Changes in non-controlling interest
|
Currency translation adjustment
|
Total shareholder’s equity
|
Balance as of June 30, 2021
|
618
|
10,727
|
(136)
|
(61)
|
11,148
|
Other
comprehensive income for the period
|
-
|
-
|
-
|
2
|
2
|
Balance as of September 30, 2021
|
618
|
10,727
|
(136)
|
(59)
|
11,150
|
|
Share capital
|
Inflation adjustment of share capital
|
Share premium
|
Legal Reserve
|
Special reserve CNV 609/12 (2)
|
Other reserves
|
Retained earnings
|
Total shareholder’s equity
|
Balance as of June 30, 2020
|
126
|
5,646
|
15,857
|
220
|
15,043
|
52,446
|
28,050
|
117,388
|
Profit
for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
18,828
|
18,828
|
Other
comprehensive loss for the period
|
-
|
-
|
-
|
-
|
-
|
(18)
|
-
|
(18)
|
Balance as of September 30, 2020
|
126
|
5,646
|
15,857
|
220
|
15,043
|
52,428
|
46,878
|
136,198
|
|
Reserve for future dividends
|
Revaluation surplus (1)
|
Special reserve
|
Changes in non-controlling interest
|
Currency translation adjustment
|
Total shareholder’s equity
|
Balance as of June 30, 2020
|
51,922
|
448
|
247
|
(136)
|
(35)
|
52,446
|
Other
comprehensive loss for the period
|
-
|
-
|
-
|
-
|
(18)
|
(18)
|
Balance as of September 30, 2020
|
51,922
|
448
|
247
|
(136)
|
(53)
|
52,428
|
|
Note
|
09.30.21
|
09.30.20
|
Operating activities:
|
|
|
|
Cash
generated from operations
|
14
|
1,128
|
(5,616)
|
Net cash generated from/ (used in) operating
activities
|
|
1,128
|
(5,616)
|
|
|
|
|
Investing activities:
|
|
|
|
Acquisition
of investment properties
|
|
(346)
|
(1,067)
|
Acquisition
of property, plant and equipment
|
|
(21)
|
(8)
|
Acquisition
of intangible assets
|
|
(3)
|
(6)
|
Acquisitions
of financial assets
|
|
(424)
|
(4,920)
|
Decrease
of financial assets
|
|
451
|
5,997
|
Loans
payment received from related parties
|
|
1,971
|
290
|
Loans
granted to related parties
|
|
-
|
(232)
|
Advance
payments
|
|
(2)
|
(17)
|
Proceeds
from sales of property, plant and equipment
|
|
-
|
2
|
Proceeds
from sales of investment properties
|
|
85
|
14,639
|
Irrevocable
contributions in subsidiaries, associates and joint
ventures
|
|
(184)
|
(14)
|
Collection
of financial assets interests
|
|
169
|
217
|
Acquisition
of interest in subsidiaries, associates and joint
ventures
|
|
-
|
(81)
|
Net cash generated from investing activities
|
|
1,696
|
14,800
|
Financing activities:
|
|
|
|
Payments
of financial leasing
|
|
(3)
|
-
|
Borrowings
obtained
|
|
-
|
1,468
|
Payment
of borrowings
|
|
-
|
(1,686)
|
Payment
of borrowings with related parties
|
|
(3)
|
-
|
Payment
of non-convertible notes
|
|
-
|
(16,266)
|
Sale
of non-convertible notes in portfolio
|
|
-
|
768
|
Repurchase
of non-convertible notes
|
|
-
|
(101)
|
Proceeds
from derivative financial instruments
|
|
-
|
14
|
Payment
of derivative financial instruments
|
|
-
|
(302)
|
Interests
paid
|
|
(1,928)
|
(2,412)
|
Short
term loans, net
|
|
(565)
|
6,280
|
Net cash used in financing activities
|
|
(2,499)
|
(12,237)
|
Net increase/ (decrease) in cash and cash equivalents
|
|
325
|
(3,053)
|
Cash
and cash equivalents at beginning of period
|
12
|
59
|
3,112
|
Foreign
exchange (loss)/ gain on cash and fair value result for cash
equivalents
|
|
(1)
|
5
|
Inflation
adjustment
|
|
(309)
|
(2)
|
Cash and cash equivalents at end of period
|
12
|
74
|
62
|
Price variation:
|
09.30.21 (three months)
|
|
9%
|
|
% of ownership interest held
|
Value of Company’s interest in equity
|
Company’s interest in comprehensive (loss)/
income
|
|||
Name of the entity
|
09.30.21
|
06.30.21
|
09.30.21
|
06.30.21
|
09.30.21
|
09.30.20
|
Subsidiaries
|
|
|
|
|
|
|
Panamerican
Mall S.A.
|
80.00%
|
80.00%
|
23,119
|
23,505
|
(387)
|
5,906
|
Torodur
S.A.
|
100.00%
|
100.00%
|
7,974
|
8,207
|
(389)
|
111
|
Arcos
del Gourmet S.A.
|
90.00%
|
90.00%
|
2,108
|
2,203
|
(95)
|
(11)
|
Shopping
Neuquén S.A.
|
99.95%
|
99.95%
|
949
|
931
|
18
|
93
|
Centro
de Entretenimientos La Plata S.A. (5)(4)(3)
|
95.40%
|
95.40%
|
635
|
649
|
(14)
|
203
|
We
Are Appa S.A.
|
93.63%
|
93.63%
|
405
|
491
|
(86)
|
(9)
|
Entertainment
Holdings S.A.
|
70.00%
|
70.00%
|
(30)
|
(39)
|
9
|
(53)
|
Emprendimiento
Recoleta S.A. (1)
|
53.68%
|
53.68%
|
68
|
73
|
(4)
|
(2)
|
Entretenimiento
Universal S.A. (2)
|
3.75%
|
3.75%
|
(2)
|
(2)
|
-
|
-
|
Fibesa
S.A. (2)
|
97.00%
|
97.00%
|
4
|
(9)
|
13
|
31
|
Associates
|
|
|
|
|
|
|
TGLT
S.A. (6)(7)
|
27.82%
|
27.82%
|
1,001
|
1,024
|
(23)
|
(77)
|
Joint ventures
|
|
|
|
|
|
|
Quality
Invest S.A.
|
50.00%
|
50.00%
|
3,154
|
3,198
|
(72)
|
948
|
Nuevo
Puerto Santa Fe S.A. (5)
|
50.00%
|
50.00%
|
295
|
294
|
1
|
(8)
|
|
|
|
39,680
|
40,525
|
(1,029)
|
7,132
|
|
|
|
|
Last financial information
|
||
Name of the entity
|
Place of business / Country of incorporation
|
Main activity
|
Common shares
|
Share capital (nominal value)
|
(Loss) / income for the period
|
Equity
|
Subsidiaries
|
|
|
|
|
|
|
Panamerican
Mall S.A.
|
Argentina
|
Real
estate
|
397,661,435
|
497
|
(484)
|
28,898
|
Torodur
S.A.
|
Uruguay
|
Investment
|
2,514,547,001
|
1,884
|
(382)
|
7,970
|
Arcos
del Gourmet S.A.
|
Argentina
|
Real
estate
|
72,973,903
|
81
|
(49)
|
2,341
|
Shopping
Neuquén S.A.
|
Argentina
|
Real
estate
|
53,511,353
|
54
|
18
|
949
|
Centro
de Entretenimiento La Plata S.A. (5)(4)(3)
|
Argentina
|
Real
estate
|
36,824
|
95
|
1
|
142
|
Entertainment
Holdings S.A.
|
Argentina
|
Investment
|
32,503,379
|
46
|
19
|
182
|
Emprendimiento
Recoleta S.A. (1)
|
Argentina
|
Real
estate
|
13,449,990
|
25
|
(8)
|
127
|
Entretenimiento
Universal S.A.
|
Argentina
|
Event
organization and others
|
825
|
-
|
3
|
(52)
|
Fibesa
S.A.
|
Argentina
|
Real
estate
|
(i)
|
2
|
22
|
186
|
We
Are Appa S.A.
|
Argentina
|
Developer
|
484,727,737
|
518
|
(92)
|
311
|
Associates
|
|
|
|
|
|
|
TGLT
S.A. (6)
|
Argentina
|
Real
estate
|
257,320,997
|
925
|
(82)
|
4,635
|
Joint ventures
|
|
|
|
|
|
|
Quality
Invest S.A.
|
Argentina
|
Real
estate
|
225,146,912
|
406
|
(144)
|
6,206
|
Nuevo
Puerto Santa Fe S.A. (5)
|
Argentina
|
Real
estate
|
138,750
|
28
|
2
|
555
|
|
09.30.21
|
06.30.21
|
Beginning of the period/ year
|
40,525
|
46,136
|
Irrevocable
contributions (Note 23)
|
184
|
450
|
Share
of loss net
|
(1,029)
|
(5,431)
|
Sale
of interest of subsidiaries (ii)
|
-
|
(1)
|
Acquisition
of interest in associates (iii)
|
-
|
81
|
Other
comprehensive income / (loss)
|
2
|
(26)
|
Impairment
of associates and joint ventures (iv)
|
(2)
|
(684)
|
End of the period/ year (i)
|
39,680
|
40,525
|
|
Shopping Malls
|
Office and Other rental properties
|
Undeveloped parcels of land
|
Properties under development
|
09.30.21
|
06.30.21
|
Fair value at beginning of the period / year
|
45,251
|
47,537
|
15,108
|
3,603
|
111,499
|
144,239
|
Additions
|
78
|
-
|
3
|
261
|
342
|
914
|
Disposals
(ii)
|
-
|
-
|
(85)
|
-
|
(85)
|
(19,750)
|
Transfers
|
-
|
-
|
-
|
-
|
-
|
(531)
|
Capitalized
lease costs
|
3
|
1
|
-
|
-
|
4
|
22
|
Amortization
of capitalized lease costs (i)
|
(2)
|
(2)
|
-
|
-
|
(4)
|
(8)
|
Net
loss from fair value adjustment on investment
properties
|
(2,920)
|
(940)
|
(361)
|
(26)
|
(4,247)
|
(13,387)
|
Fair value at end of the period / year
|
42,410
|
46,596
|
14,665
|
3,838
|
107,509
|
111,499
|
|
09.30.21
|
09.30.20
|
Rentals
and services income (Note 19)
|
2,286
|
912
|
Expenses
and collective promotion fund (Note 19)
|
796
|
508
|
Rental
and services costs (Note 20)
|
(1,133)
|
(847)
|
Net
unrealized (loss) / gain from fair value adjustment on investment
properties
|
(4,179)
|
14,642
|
Net
realized gain from fair value adjustment on investment properties
(i) (ii)
|
18
|
8,163
|
|
|
Furniture and fixtures
|
Machinery and equipment
|
Vehicles
|
Others
|
09.30.21
|
06.30.21
|
Costs
|
1,526
|
346
|
2,163
|
32
|
1
|
4,068
|
3,125
|
Accumulated
depreciation
|
(467)
|
(275)
|
(2,016)
|
(32)
|
-
|
(2,790)
|
(2,667)
|
Net book amount at beginning of the period / year
|
1,059
|
71
|
147
|
-
|
1
|
1,278
|
458
|
Additions
|
8
|
1
|
12
|
-
|
-
|
21
|
158
|
Disposals
|
-
|
-
|
-
|
-
|
-
|
-
|
(7)
|
Transfers
|
-
|
-
|
-
|
-
|
-
|
-
|
792
|
Depreciation
charges (i)
|
(12)
|
(3)
|
(16)
|
-
|
-
|
(31)
|
(123)
|
Net book amount at end of the period / year
|
1,055
|
69
|
143
|
-
|
1
|
1,268
|
1,278
|
Costs
|
1,534
|
347
|
2,175
|
32
|
1
|
4,089
|
4,068
|
Accumulated
depreciation
|
(479)
|
(278)
|
(2,032)
|
(32)
|
-
|
(2,821)
|
(2,790)
|
Net book amount at end of the period / year
|
1,055
|
69
|
143
|
-
|
1
|
1,268
|
1,278
|
|
Completed properties
|
Undeveloped sites
|
09.30.21
|
06.30.21
|
Net book amount the beginning of the period / year
|
12
|
116
|
128
|
179
|
Additions
|
-
|
-
|
-
|
8
|
Disposals
(i)
|
-
|
-
|
-
|
(59)
|
Net book amount the end of the period / year
|
12
|
116
|
128
|
128
|
Non-current
|
|
|
123
|
123
|
Current
|
|
|
5
|
5
|
Total
|
|
|
128
|
128
|
|
Software
|
Right to receive units (ii)
|
Others
|
09.30.21
|
06.30.21
|
Costs
|
668
|
1,144
|
104
|
1,916
|
1,898
|
Accumulated
amortization
|
(534)
|
-
|
(104)
|
(638)
|
(549)
|
Net book amount at beginning of the period / year
|
134
|
1,144
|
-
|
1,278
|
1,349
|
Additions
|
3
|
-
|
-
|
3
|
18
|
Amortization
charges (i)
|
(17)
|
-
|
-
|
(17)
|
(89)
|
Net book amount at end of the period / year
|
120
|
1,144
|
-
|
1,264
|
1,278
|
Costs
|
671
|
1,144
|
104
|
1,919
|
1,916
|
Accumulated
amortization
|
(551)
|
-
|
(104)
|
(655)
|
(638)
|
Net book amount at end of the period / year
|
120
|
1,144
|
-
|
1,264
|
1,278
|
|
09.30.21
|
06.30.21
|
Shopping
malls (Note 23)
|
696
|
792
|
Machinery
and equipment
|
4
|
5
|
Others
|
3
|
6
|
Total rights of use
|
703
|
803
|
Non-current
|
703
|
803
|
Total
|
703
|
803
|
|
09.30.21
|
09.30.20
|
Shopping
malls
|
99
|
99
|
Machinery
and equipment
|
1
|
4
|
Others
|
3
|
16
|
Total amortization and depreciation of rights of use
(i)
|
103
|
119
|
|
Financial assets at amortized cost (i)
|
Financial assets at fair value through profit or loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
September 30, 2021
|
|
Level 1
|
|
|
|
Assets as per Statement of Financial Position
|
|
|
|
|
|
Trade
and other receivables (excluding allowance for doubtful accounts)
(Note 13)
|
8,367
|
-
|
8,367
|
1,921
|
10,288
|
Investments
in financial assets:
|
|
|
|
|
|
-
Investment in equity public companies´ securities
|
-
|
156
|
156
|
-
|
156
|
-
Bonds
|
-
|
10,182
|
10,182
|
-
|
10,182
|
-
Mutual funds
|
-
|
20
|
20
|
-
|
20
|
Cash
and cash equivalents:
|
|
|
|
|
|
-
Cash at banks and on hand
|
62
|
-
|
62
|
-
|
62
|
-
Short- term investments
|
-
|
12
|
12
|
-
|
12
|
Total
|
8,429
|
10,370
|
18,799
|
1,921
|
20,720
|
|
Financial liabilities at amortized cost (i)
|
Non-financial liabilities
|
Total
|
|
|
|
|
Liabilities as per statement of financial position
|
|
|
|
Trade
and other payables (Note 15)
|
1,574
|
3,393
|
4,967
|
Borrowings
(Note 16)
|
45,483
|
-
|
45,483
|
Total
|
47,057
|
3,393
|
50,450
|
|
Financial assets at amortized cost (i)
|
Financial assets at fair value through profit or loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
June 30, 2021
|
|
Level 1
|
|
|
|
Assets as per Statement of Financial Position
|
|
|
|
|
|
Trade
and other receivables (excluding allowance for doubtful accounts)
(Note 13)
|
12,470
|
-
|
12,470
|
2,187
|
14,657
|
Investments
in financial assets:
|
|
|
|
|
|
-
Investment in equity public companies´ securities
|
-
|
136
|
136
|
-
|
136
|
-
Bonds
|
-
|
7,656
|
7,656
|
-
|
7,656
|
-
Mutual funds
|
-
|
22
|
22
|
-
|
22
|
Cash
and cash equivalents:
|
|
|
|
|
|
-
Cash at banks and on hand
|
27
|
-
|
27
|
-
|
27
|
-
Short- term investments
|
-
|
32
|
32
|
-
|
32
|
Total
|
12,497
|
7,846
|
20,343
|
2,187
|
22,530
|
|
Financial liabilities at amortized cost (i)
|
Non-financial liabilities
|
Total
|
|
|
|
|
Liabilities as per statement of financial position
|
|
|
|
Trade
and other payables (Note 15)
|
1,723
|
3,131
|
4,854
|
Borrowings
(Note 16)
|
49,708
|
-
|
49,708
|
Total
|
51,431
|
3,131
|
54,562
|
|
09.30.21
|
06.30.21
|
Lease
and services receivables
|
1,591
|
1,471
|
Averaging
of scheduled rent escalation
|
760
|
850
|
Post-dated
checks
|
512
|
515
|
Debtors
under legal proceedings
|
705
|
492
|
Consumer
financing receivables
|
16
|
18
|
Property
sales receivables
|
191
|
204
|
Less:
allowance for doubtful accounts
|
(828)
|
(788)
|
Total trade receivables
|
2,947
|
2,762
|
Advance
payments
|
597
|
650
|
Prepayments
|
317
|
409
|
Other
tax receivables
|
247
|
254
|
Loans
|
108
|
113
|
Expenses
to be recovered
|
35
|
33
|
Others
|
12
|
13
|
Total other receivables
|
1,316
|
1,472
|
Related
parties (Note 23)
|
5,197
|
9,635
|
Total current trade and other receivables
|
9,460
|
13,869
|
Non-current
|
1,164
|
633
|
Current
|
8,296
|
13,236
|
Total
|
9,460
|
13,869
|
|
09.30.21
|
06.30.21
|
Beginning of the period / year
|
(788)
|
(860)
|
Additions
(Note 20)
|
(133)
|
(391)
|
Unused
amounts reversed (Note 20)
|
32
|
203
|
Inflation
adjustment
|
61
|
260
|
End of the period / year
|
(828)
|
(788)
|
|
Note
|
09.30.21
|
09.30.20
|
Net (loss)/ gain for the period
|
|
(1,709)
|
18,828
|
Adjustments:
|
|
|
|
Income
tax
|
18
|
(780)
|
3,893
|
Amortization
and depreciation
|
20
|
155
|
180
|
Net
loss/ (gain) from fair value adjustments of investment
properties
|
7
|
4,247
|
(14,927)
|
Directors’
fees provision
|
|
100
|
390
|
Averaging
of schedule rent escalation
|
19
|
(5)
|
54
|
Financial
results, net
|
|
(1,247)
|
(7,153)
|
Provisions
and allowances
|
13
and 17
|
113
|
84
|
Share
of loss/ (profit) of associates and joint ventures
|
6
|
1,031
|
(7,150)
|
Changes in operating assets and liabilities:
|
|
|
|
Decrease
in inventories
|
|
2
|
2
|
(Increase)/
Decrease in trade and other receivables
|
|
(329)
|
58
|
(Decrease)/
Increase in trade and other payables
|
|
(359)
|
245
|
Decrease
in payroll and social security liabilities
|
|
(72)
|
(105)
|
Uses
of provisions
|
17
|
(19)
|
(15)
|
Net cash generated from/ (used in) operating activities before
income tax paid
|
1,128
|
(5,616)
|
Non-cash transactions
|
09.30.21
|
09.30.20
|
Currency
translation adjustment in associates
|
2
|
18
|
Increase
in investment in financial assets through a decrease in trade and
other receivables
|
2,911
|
556
|
Decrease
in trade and other receivables trough a decrease in leases
liabilities
|
1
|
-
|
Decrease
in Investments in subsidiaries, associates and joint ventures
trough decrease in other liabilities
|
18
|
-
|
Increase
in financial assets through an increase in borrowings
|
-
|
27
|
Decrease
in financial assets through a decrease in trade and other
payables
|
-
|
26
|
Increase
in rights of use assets through a decrease in leases
liabilities
|
-
|
37
|
Increase
in trade and other receivables through a decrease in investment in
financial assets
|
-
|
6,290
|
|
09.30.21
|
06.30.21
|
Admission
rights
|
1,059
|
1,067
|
Rent
and service payments received in advance
|
1,048
|
1,081
|
Trade
payables
|
496
|
594
|
Accrued
invoices
|
276
|
296
|
Tenant
deposits
|
60
|
65
|
Payments
received in advance
|
236
|
280
|
Total trade payables
|
3,175
|
3,383
|
Tax
payables
|
979
|
646
|
Other
income to be accrued
|
55
|
57
|
Other
payables
|
12
|
13
|
Total other payables
|
1,046
|
716
|
Related
parties (Note 23)
|
746
|
755
|
Total trade and other payables
|
4,967
|
4,854
|
Non-current
|
1,228
|
1,081
|
Current
|
3,739
|
3,773
|
Total
|
4,967
|
4,854
|
|
Book Value at 09.30.21
|
Book Value at 06.30.21
|
Fair Value at 09.30.21
|
Fair Value at 06.30.21
|
Non-Convertible
notes
|
35,044
|
37,905
|
33,911
|
35,063
|
Bank
loans
|
455
|
375
|
455
|
375
|
Related
parties (Note 23)
|
5,558
|
5,939
|
5,544
|
5,903
|
Bank
overdrafts
|
4,426
|
5,489
|
4,426
|
5,489
|
Total borrowings
|
45,483
|
49,708
|
44,336
|
46,830
|
Non-current
|
35,439
|
37,511
|
|
|
Current
|
10,044
|
12,197
|
|
|
Total
|
45,483
|
49,708
|
|
|
|
09.30.21
|
06.30.21
|
Balances at the beginning of the period / year
|
150
|
151
|
Increases
(Note 21)
|
12
|
71
|
Recovery
(Note 21)
|
-
|
(4)
|
Used
during the period / year
|
(6)
|
(5)
|
Inflation
adjustment
|
(13)
|
(63)
|
Balances at the end of the period / year
|
143
|
150
|
Non-current
|
74
|
76
|
Current
|
69
|
74
|
Total
|
143
|
150
|
|
09.30.21
|
09.30.20
|
Current
income tax
|
(1,369)
|
-
|
Deferred
income tax
|
2,149
|
(3,893)
|
Income tax
|
780
|
(3,893)
|
|
09.30.21
|
06.30.21
|
Beginning of the period / year
|
(42,008)
|
(31,644)
|
Income
tax
|
2,149
|
(10,273)
|
Revaluation
surplus
|
-
|
(91)
|
End of the period / year
|
(39,859)
|
(42,008)
|
|
09.30.21
|
09.30.20
|
Profit/
(Loss) for period before income tax at the prevailing tax
rate
|
871
|
(6,816)
|
Tax
effects of:
|
|
|
Result
by rate transparency
|
(24)
|
15
|
Rate
change
|
-
|
1,360
|
Share
of (loss)/ profit of subsidiaries, associates and joint
ventures
|
(361)
|
2,145
|
Tax
loss carryforward update/ Fixed assets sold
|
(6)
|
-
|
Tax
inflation adjustment
|
(840)
|
(799)
|
Inflation
adjustment
|
1,141
|
55
|
Non-taxable
profit, non-deductible expenses and others
|
(1)
|
147
|
Income tax
|
780
|
(3,893)
|
|
09.30.21
|
09.30.20
|
Base
rent
|
1,108
|
629
|
Contingent
rent
|
897
|
88
|
Admission
rights
|
170
|
205
|
Averaging
of scheduled rent escalation
|
5
|
(54)
|
Property
management fees
|
30
|
34
|
Others
|
35
|
7
|
Parking
fees
|
41
|
3
|
Rentals and services income
|
2,286
|
912
|
Sale
of trading properties
|
-
|
3
|
Gain from disposal of trading properties
|
-
|
3
|
Total revenues from sales, rentals and services
|
2,286
|
915
|
Expenses
and collective promotion fund
|
796
|
508
|
Total revenues from expenses and collective promotion
funds
|
796
|
508
|
Total revenues
|
3,082
|
1,423
|
|
Costs (2)
|
General and administrative expenses
|
Selling expenses
|
09.30.21
|
09.30.20
|
Salaries,
social security costs and other personnel administrative expenses
(1)
|
375
|
171
|
10
|
556
|
509
|
Maintenance,
security, cleaning, repairs and other
|
335
|
21
|
2
|
358
|
282
|
Taxes,
rates and contributions
|
125
|
1
|
110
|
236
|
399
|
Directors'
fees
|
-
|
100
|
-
|
100
|
390
|
Amortization
and depreciation
|
120
|
35
|
-
|
155
|
180
|
Fees
and payments for services
|
6
|
37
|
5
|
48
|
229
|
Advertising
and other selling expenses
|
144
|
-
|
5
|
149
|
30
|
Leases
and expenses
|
34
|
10
|
1
|
45
|
44
|
Traveling,
transportation and stationery
|
8
|
8
|
1
|
17
|
5
|
Allowance
for doubtful accounts (additions and unused amounts reversed) (Note
13)
|
-
|
-
|
101
|
101
|
55
|
Other
expenses
|
3
|
7
|
-
|
10
|
4
|
Total expenses by nature 09.30.21
|
1,150
|
390
|
235
|
1,775
|
-
|
Total expenses by nature 09.30.20
|
868
|
664
|
595
|
-
|
2,127
|
|
09.30.21
|
09.30.20
|
Management
fees
|
33
|
23
|
Others
|
(1)
|
4
|
Interest
generated by operating credits
|
56
|
52
|
Donations
|
(7)
|
(9)
|
Lawsuits
(Note 17)
|
(12)
|
(29)
|
Total other operating results, net
|
69
|
41
|
|
09.30.21
|
09.30.20
|
-
Interest income
|
71
|
642
|
Finance income
|
71
|
642
|
-
Interest expense
|
(1,333)
|
(1,462)
|
-
Other finance costs
|
(101)
|
(202)
|
Finance costs
|
(1,434)
|
(1,664)
|
-
Foreign exchange, net
|
2,347
|
(78)
|
-
Fair value (loss)/ gain of financial assets and liabilities at Fair
value through profit or loss
|
(124)
|
2,231
|
-
Loss from derivative financial instruments
|
-
|
(257)
|
-
Loss for repurchase of non-convertible notes
|
-
|
(7)
|
Other financial results
|
2,223
|
1,889
|
-
Inflation adjustment
|
553
|
440
|
Total financial results, net
|
1,413
|
1,307
|
Items
|
09.30.21
|
06.30.21
|
Trade
and other receivables
|
5,197
|
9,635
|
Rights
of use assets
|
696
|
792
|
Investments
in financial assets
|
9,688
|
7,145
|
Trade
and other payables
|
(746)
|
(755)
|
Borrowings
|
(5,558)
|
(5,939)
|
Leases
liabilities
|
(2)
|
(6)
|
Total
|
9,275
|
10,872
|
Related parties
|
09.30.21
|
06.30.21
|
Description of transaction
|
IRSA
Inversiones y Representaciones Sociedad Anónima
(IRSA)
|
7,460
|
4,753
|
Non-convertible
notes
|
|
4,126
|
8,578
|
Loans
granted
|
|
62
|
56
|
Corporate
services
|
|
12
|
13
|
Equity
incentive plan
|
|
18
|
7
|
Reimbursement
of expenses
|
|
3
|
11
|
Leases
and/or rights to use space
|
|
3
|
1
|
Averaging
|
|
-
|
2
|
Lease
collections
|
|
(255)
|
(277)
|
Non-convertible
notes
|
|
(118)
|
(163)
|
Advance
received
|
Total direct parent company
|
11,311
|
12,981
|
|
Cresud
S.A.CI.F. y A.
|
2,228
|
2,392
|
Non-convertible
notes
|
|
(3)
|
(3)
|
Equity
incentive plan to pay
|
|
24
|
-
|
Averaging
|
|
14
|
-
|
Reimbursement
of expenses
|
|
-
|
(31)
|
Reimbursement
of expenses to pay
|
|
(275)
|
(154)
|
Corporate
services to pay
|
Total direct parent company of IRSA
|
1,988
|
2,204
|
|
Panamerican
Mall S.A.
|
45
|
49
|
Reimbursement
of expenses
|
|
8
|
-
|
Management
fee
|
|
211
|
223
|
Other
receivables
|
|
-
|
(2)
|
Leases
and/or rights to use space to pay
|
|
(22)
|
(23)
|
Lease
collections to pay
|
Arcos
del Gourmet S.A.
|
18
|
5
|
Reimbursement
of expenses
|
|
4
|
-
|
Management
fee
|
|
(9)
|
(10)
|
Lease
collections to pay
|
|
-
|
(2)
|
Leases
and/or rights to use space to pay
|
Fibesa
S.A.
|
(24)
|
(28)
|
Borrowings
|
|
2
|
1
|
Leases
and/or rights to use space
|
|
1
|
3
|
Reimbursement
of expenses
|
Shopping
Neuquén S.A.
|
696
|
792
|
Rights
of use assets
|
|
169
|
176
|
Loans
granted
|
|
29
|
31
|
Reimbursement
of expenses
|
Torodur
S.A.
|
(5,102)
|
(5,372)
|
Borrowings
|
|
(144)
|
(156)
|
Non-convertible
notes
|
Ogden
Argentina S.A
|
349
|
365
|
Loans
granted
|
|
3
|
1
|
Reimbursement
of expenses
|
Entretenimiento
Universal S.A.
|
47
|
49
|
Loans
granted
|
We
Are Appa S.A.
|
8
|
1
|
Other
receivables
|
|
-
|
(10)
|
Reimbursement
of expenses to pay
|
|
(90)
|
(197)
|
Other
payables
|
La
Arena S.A.
|
1
|
1
|
Reimbursement
of expenses
|
Centro
de Entretenimiento La Plata S.A.
|
-
|
1
|
Reimbursement
of expenses
|
Other
subsidiaries of IRSA Propiedades Comerciales S.A.
|
(4)
|
-
|
Reimbursement
of expenses to pay
|
Total subsidiaries
|
(3,804)
|
(4,102)
|
|
Related parties
|
09.30.21
|
06.30.21
|
Description of transaction
|
Nuevo
Puerto Santa Fe S.A.
|
5
|
4
|
Management
fee
|
|
1
|
1
|
Reimbursement
of expenses
|
|
6
|
5
|
Loans
granted
|
|
-
|
(1)
|
Leases
and/or rights to use space to pay
|
Quality
S.A.
|
(2)
|
(6)
|
Leases
and/or rights to use space to pay
|
|
-
|
1
|
Reimbursement
of expenses
|
TGLT
S.A.
|
-
|
13
|
Other
receivables
|
Total associates and joint ventures
|
10
|
17
|
|
Directors
|
(191)
|
(110)
|
Fees
|
Total Directors
|
(191)
|
(110)
|
|
Futuros
y Opciones.Com S.A.
|
2
|
2
|
Reimbursement
of expenses
|
|
-
|
(71)
|
Borrowings
|
IRSA
International LLC
|
(30)
|
(32)
|
Other
payables
|
Fundación
Museo de los Niños
|
6
|
14
|
Reimbursement
of expenses
|
La
Rural S.A.
|
(2)
|
(14)
|
Leases
and/or rights to use space to pay
|
Others
related parties
|
1
|
14
|
Reimbursement
of expenses
|
|
1
|
-
|
Reimbursement
of expenses to pay
|
|
2
|
-
|
Other
receivables
|
|
17
|
7
|
Leases
and/or rights to use space
|
|
(3)
|
(3)
|
Leases
and/or rights to use space to pay
|
|
(33)
|
(35)
|
Non-convertible
notes
|
Total others
|
(39)
|
(118)
|
|
Total
|
9,275
|
10,872
|
|
Related parties
|
09.30.21
|
09.30.20
|
Description of transaction
|
IRSA
Inversiones y Representaciones Sociedad Anónima
(IRSA)
|
13
|
6
|
Corporate
services
|
|
-
|
1,429
|
Financial
operations
|
|
6
|
3
|
Leases
and/or rights to use space
|
Total direct parent company
|
19
|
1,438
|
|
Cresud
S.A.CI.F. y A.
|
-
|
271
|
Financial
operations
|
|
(78)
|
3
|
Leases
and/or rights to use space
|
|
(159)
|
(156)
|
Corporate
services
|
Total direct parent company of IRSA
|
(237)
|
118
|
|
Arcos
del Gourmet S.A.
|
11
|
11
|
Fees
|
|
(3)
|
(2)
|
Leases
and/or rights to use space
|
Fibesa
S.A.
|
3
|
(2)
|
Leases
and/or rights to use space
|
|
-
|
2
|
Fees
|
Torodur
S.A.
|
276
|
78
|
Financial
operations
|
Helmir
S.A.
|
1
|
-
|
Financial
operations
|
Shopping
Neuquén S.A.
|
(7)
|
(99)
|
Financial
operations
|
|
(99)
|
-
|
Leases
and/or rights to use space
|
Ogden
Argentina S.A
|
(17)
|
6
|
Financial
operations
|
Panamerican
Mall S.A.
|
18
|
14
|
Fees
|
|
(2)
|
-
|
Leases
and/or rights to use space
|
|
(11)
|
9
|
Financial
operations
|
Centro
de Entretenimientos La Plata S.A.
|
(1)
|
1
|
Financial
operations
|
Entretenimiento
Universal S.A.
|
(2)
|
2
|
Financial
operations
|
Total subsidiaries
|
167
|
20
|
|
Nuevo
Puerto Santa Fe S.A.
|
1
|
2
|
Fees
|
|
(1)
|
-
|
Leases
and/or rights to use space
|
Quality
Invest S.A.
|
-
|
(12)
|
Financial
operations
|
|
1
|
-
|
Fees
|
Total associates and joint ventures
|
1
|
(10)
|
|
Directors
|
(100)
|
(390)
|
Fees
|
Senior
Management
|
(18)
|
(15)
|
Fees
|
Total directors
|
(118)
|
(405)
|
|
IRSA
International LLC
|
-
|
23
|
Financial
operations
|
Tyrus
S.A.
|
-
|
149
|
Financial
operations
|
Museo
de los Niños
|
(6)
|
-
|
Donations
|
Banco
de Crédito y Securitización S.A.
|
20
|
21
|
Leases
and/or rights to use space
|
Estudio
Zang, Bergel & Viñes
|
(3)
|
(6)
|
Fees
|
Others
|
(3)
|
(3)
|
Donations
|
|
12
|
14
|
Leases
and/or rights to use space
|
Total others related parties
|
20
|
198
|
|
Total
|
(148)
|
1,359
|
|
Related parties
|
09.30.21
|
09.30.20
|
Description of transaction
|
Torodur
S.A.
|
157
|
-
|
Irrevocable
contributions granted
|
Quality
Invest S.A.
|
27
|
14
|
Irrevocable
contributions granted
|
Total irrevocable contributions to joint ventures
|
184
|
14
|
|
We
are Appa S.A.
|
-
|
81
|
Share
acquisition
|
Total share acquisition
|
-
|
81
|
|
Exhibit A - Property, plant and equipment
|
Note 7 - Investment properties
|
|
Note 8 - Property, plant and equipment
|
Exhibit B - Intangible assets
|
Note 10 - Intangible assets
|
Exhibit C - Equity investments
|
Note 6 - Investment in subsidiaries, associates and joint
ventures
|
Exhibit D - Other investments
|
Note 12 - Financial instruments by category
|
Exhibit E – Provisions
|
Note 13 - Trade and other receivables
|
|
Note 17 - Provisions
|
Exhibit F – Cost of sales and services provided
|
Note 9 - Trading properties
|
|
Note 20 - Expenses by nature
|
Exhibit G - Foreign currency assets and liabilities
|
Note 25 - Foreign currency assets and liabilities
|
Items (1)
|
Amount (2)
|
Exchange rate (3)
|
09.30.21
|
06.30.21
|
Assets
|
|
|
|
|
Trade and other receivables
|
|
|
|
|
US
Dollar
|
10.18
|
98.54
|
1,003
|
970
|
Euro
|
0.08
|
113.88
|
9
|
11
|
Trade and other receivables with related parties
|
|
|
|
|
US
Dollar
|
6.36
|
98.74
|
628
|
660
|
Total trade and other receivables
|
|
|
1,640
|
1,641
|
Investments in financial assets
|
|
|
|
|
US
Dollar
|
5.01
|
98.54
|
494
|
510
|
Investment in financial assets with related parties
|
|
|
|
|
US
Dollar
|
89.26
|
98.74
|
8,814
|
6,228
|
Total investments in financial assets
|
|
|
9,308
|
6,738
|
Cash and cash equivalents
|
|
|
|
|
US
Dollar
|
0.26
|
98.54
|
26
|
23
|
Total cash and cash equivalents
|
|
|
26
|
23
|
Total Assets
|
|
|
10,974
|
8,402
|
Liabilities
|
|
|
|
|
Trade and other payables
|
|
|
|
|
US
Dollar
|
2.87
|
98.74
|
283
|
492
|
Euro
|
0.01
|
114.36
|
1
|
20
|
Trade and other payables with related parties
|
|
|
|
|
US
Dollar
|
0.39
|
98.74
|
39
|
37
|
Total trade and other payables
|
|
|
323
|
549
|
Borrowings
|
|
|
|
|
US
Dollar
|
355.15
|
98.74
|
35,068
|
37,935
|
Borrowings from related parties
|
|
|
|
|
US
Dollar
|
56.05
|
98.74
|
5,534
|
5,841
|
Total borrowings
|
|
|
40,602
|
43,776
|
Leases liabilities
|
|
|
|
|
US
Dollar
|
0.02
|
98.74
|
2
|
3
|
Leases liabilities with related parties
|
|
|
|
|
US
Dollar
|
0.02
|
98.74
|
2
|
7
|
Total Leases liabilities
|
|
|
4
|
10
|
Total Liabilities
|
|
|
40,929
|
44,335
|
PRICE
WATERHOUSE & Co. S.R.L.
(Socio)
C.P.C.E.C.A.B.A.
Tº 1 Fº 17
Carlos
Brondo
Contador
Público (UNCUYO)
C.P.C.E.C.A.B.A.
T° 391 F° 078
|
|
ABELOVICH,
POLANO & ASOCIADOS S.R.L.
(Socio)
C.P.C.E.
C.A.B.A. T° 1 F° 30
Noemí
I. Cohn
Contador
Público (U.B.A.)
C.P.C.E. C.A.B.A. T° 116 F° 135
|
(In ARS million)
|
IQ 22
|
IQ 21
|
YoY Var
|
IQ 20
|
YoY Var
|
Income from sales, leases and services
(1)
|
2,915
|
1,365
|
113.6%
|
4,245
|
(31.3)%
|
Net
result from fair value adjustment on investment
properties
|
(5,679)
|
24,801
|
(122.9)%
|
13,087
|
(143.4)%
|
Realized
Result from changes in the fair value of investment
properties
|
18
|
8,163
|
(99.8)%
|
-
|
-
|
Result from operations
|
(3,868)
|
24,480
|
(115.8)%
|
16,046
|
(124.1)%
|
Depreciation
and amortization
|
81
|
108
|
(25.0)%
|
108
|
(25.0)%
|
Consolidated EBITDA (2)
|
(1,482)
|
27,681
|
(105)%
|
7,056
|
(121.0)%
|
Consolidated Adjusted EBITDA (2)
|
1,910
|
7,950
|
(76.0)%
|
3,068
|
(37.7)%
|
Consolidated NOI (3)
|
2,308
|
8,642
|
(73.3)%
|
3,668
|
(37.1)%
|
Result for the period
|
(1,801)
|
20,275
|
(108.9)%
|
4,710
|
(138.2)%
|
|
IVQ 21
|
IVQ 21
|
IIIQ 21
|
IIQ 21
|
IQ 21
|
Gross
leasable area (sqm)
|
335,641
|
334,826
|
335,893
|
333,460
|
333,345
|
Tenants’
sales (3 months cumulative in current currency)
|
34,205
|
16,913
|
28,263
|
29,804
|
8,105
|
Occupancy
|
89.6%
|
89.9%
|
89.5%
|
88.3%
|
92.8%
|
(in ARS million)
|
IQ 22
|
IQ 21
|
YoY Var
|
IQ 20
|
YoY Var
|
Income
from sales. rentals and services
|
2,225
|
560
|
297.3%
|
3,179
|
(30.0)%
|
Net
result from fair value adjustment on investment
properties
|
(3,698)
|
1,796
|
(305.9)%
|
916
|
(503.7)%
|
Result
from operations
|
(2,241)
|
1,513
|
(248.1)%
|
3,174
|
(170.6)%
|
Depreciation
and amortization
|
49
|
64
|
(23.4)%
|
57
|
(14.0)%
|
EBITDA (1)
|
(2,192)
|
1,577
|
(239.0)%
|
3,231
|
(167.8)%
|
Adjusted EBITDA (1)
|
1,506
|
(219)
|
-
|
2,315
|
(34.9)%
|
NOI (2)
|
2,225
|
560
|
297.3%
|
2,748
|
(34.8)%
|
|
Date of acquisition
|
Location
|
|
Stores
|
Occupancy
(2)
|
IRSA
PC Interest (3)
|
Alto
Palermo
|
Dec-97
|
City
of Buenos Aires
|
20,071
|
133
|
99.7%
|
100%
|
Abasto Shopping (4)
|
Nov-99
|
City
of Buenos Aires
|
36,797
|
159
|
95.8%
|
100%
|
Alto
Avellaneda
|
Dec-97
|
Province
of Buenos Aires
|
40,286
|
125
|
68.2%
|
100%
|
Alcorta
Shopping
|
Jun-97
|
City
of Buenos Aires
|
15,812
|
112
|
99.4%
|
100%
|
Patio
Bullrich
|
Oct-98
|
City
of Buenos Aires
|
11,396
|
89
|
87.4%
|
100%
|
Dot
Baires Shopping
|
May-09
|
City
of Buenos Aires
|
47,366
|
164
|
83.1%
|
80%
|
Soleil
|
Jul-10
|
Province
of Buenos Aires
|
15,925
|
78
|
93.5%
|
100%
|
Distrito
Arcos
|
Dec-14
|
City
of Buenos Aires
|
14,335
|
65
|
100.0%
|
90.0%
|
Alto
Noa Shopping
|
Mar-95
|
Salta
|
19,388
|
84
|
97.5%
|
100%
|
Alto
Rosario Shopping
|
Nov-04
|
Santa
Fe
|
33,731
|
138
|
94.8%
|
100%
|
Mendoza
Plaza Shopping
|
Dec-94
|
Mendoza
|
42,947
|
131
|
85.7%
|
100%
|
Córdoba
Shopping
|
Dec-06
|
Córdoba
|
15,360
|
105
|
97.6%
|
100%
|
La
Ribera Shopping
|
Aug-11
|
Santa
Fe
|
10,530
|
70
|
97.3%
|
50%
|
Alto
Comahue
|
Mar-15
|
Neuquén
|
11,697
|
94
|
92.2%
|
99.95%
|
Patio Olmos (5)
|
Sep-07
|
Córdoba
|
|
-
|
|
|
Total
|
|
|
335,641
|
1,547
|
89.6%
|
|
(in ARS million)
|
IQ 22
|
IQ 21
|
YoY Var
|
IQ 20
|
YoY Var
|
Alto
Palermo
|
4,033
|
199
|
1,926.6%
|
4,752
|
(15.1)%
|
Abasto
Shopping
|
3,998
|
147
|
2,619.7%
|
4,926
|
(18.8)%
|
Alto
Avellaneda
|
2,983
|
144
|
1,971.5%
|
4,314
|
(30.9)%
|
Alcorta
Shopping
|
3,016
|
27
|
11,070.4%
|
2,693
|
12.0%
|
Patio
Bullrich
|
1,450
|
263
|
451.3%
|
1,819
|
(20.3)%
|
Dot
Baires Shopping
|
2,609
|
130
|
1,906.9%
|
3,644
|
(28.4)%
|
Soleil
|
2,222
|
288
|
671.5%
|
2,099
|
5.9%
|
Distrito
Arcos
|
2,595
|
783
|
231.4%
|
2,274
|
14.1%
|
Alto
Noa Shopping
|
1,677
|
1,023
|
63.9%
|
1,674
|
0.2%
|
Alto
Rosario Shopping
|
4,218
|
1,927
|
118.9%
|
3,826
|
10.2%
|
Mendoza
Plaza Shopping
|
2,417
|
1,921
|
25.8%
|
3,006
|
(19.6)%
|
Córdoba
Shopping
|
1,380
|
793
|
74.0%
|
1,177
|
17.2%
|
La Ribera Shopping(2)
|
591
|
222
|
166.2%
|
872
|
(32.2)%
|
Alto
Comahue
|
1,016
|
238
|
326.9%
|
1,218
|
(16.6)%
|
Total sales
|
34,205
|
8,105
|
322.0%
|
38,294
|
(10.7)%
|
(in ARS million)
|
IQ 22
|
IQ 21
|
YoY Var
|
IQ 20
|
YoY Var
|
Department
Store
|
-
|
580
|
(100.0)%
|
2,025
|
(100.0)%
|
Clothes
and footwear
|
20,326
|
4,023
|
405.2%
|
20,698
|
(1.8)%
|
Entertainment
|
755
|
-
|
-
|
1,597
|
(52.7)%
|
Home
and decoration
|
987
|
243
|
306.2%
|
752
|
31.3%
|
Home
Appliances
|
3,264
|
663
|
392.3%
|
4,674
|
(30.2)%
|
Restaurants
|
5,133
|
1,410
|
264.0%
|
4,788
|
7.2%
|
Miscellaneous
|
576
|
113
|
409.7%
|
451
|
27.7%
|
Services
|
3,164
|
1,073
|
194.9%
|
3,309
|
(4.4)%
|
Total
|
34,205
|
8,105
|
322.0%
|
38,294
|
(10.7)%
|
(in ARS million)
|
IQ 22
|
IQ 21
|
YoY Var
|
IQ 20
|
YoY Var
|
Base rent (1)
|
715
|
99
|
622.2%
|
1,594
|
(55.1)%
|
Contingent rent (1)
|
1,107
|
96
|
1,053.1%
|
761
|
45.5%
|
Total rent
|
1,822
|
195
|
834.1%
|
2,355
|
(22.6)%
|
Revenues
from non-traditional advertising
|
44
|
50
|
(12.0)%
|
85
|
(48.2)%
|
Admission
rights
|
198
|
223
|
(11.2)%
|
401
|
(50.6)%
|
Fees
|
35
|
38
|
(7.9)%
|
44
|
(20.5)%
|
Parking
fees
|
62
|
5
|
1,140.0%
|
186
|
(66.7)%
|
Commissions
|
54
|
44
|
22.7%
|
85
|
(36.5)%
|
Others
|
10
|
5
|
100.0%
|
23
|
(56.5)%
|
Subtotal(2)
|
2,225
|
560
|
297.3%
|
3,179
|
(30.0)%
|
Expenses
and Collective Promotion Funds
|
963
|
540
|
78.3%
|
1,287
|
(25.2)%
|
Total
|
3,188
|
1,100
|
189.8%
|
4,466
|
(28.6)%
|
|
IQ 22
|
IVQ 21
|
IIIQ 21
|
IIQ 21
|
IQ 21
|
Gross
Leasable area
|
113,451
|
113,291
|
114,475
|
114,475
|
93,144
|
Total
Occupancy
|
72.4%
|
74.7%
|
76.3%
|
75.6%
|
83.7%
|
Class
A+ & A Occupancy
|
78.9%
|
80.1%
|
81.2%
|
79.5%
|
91.6%
|
Class
B Occupancy
|
41.1%
|
48.5%
|
52.4%
|
56.7%
|
53.6%
|
Rent
USD/sqm
|
25.1
|
25.7
|
25.4
|
25.7
|
26.0
|
(in ARS million)
|
IQ 22
|
IQ 21
|
YoY Var
|
IQ 20
|
YoY Var
|
Income
from sales, rentals, and services
|
705
|
811
|
(13.1)%
|
1,047
|
(32.7)%
|
Net
result from fair value adjustment of investment
properties.
|
(1,586)
|
19,209
|
(108.3)%
|
10,087
|
(115.7)%
|
Result from operations
|
(1,041)
|
19,773
|
(105.3)%
|
10,969
|
(109.5)%
|
Depreciation
and amortization
|
13
|
19
|
(31.6)%
|
10
|
30.0%
|
EBITDA(1)
|
(1,028)
|
19,792
|
(105.2)%
|
10,979
|
(109.4)%
|
Adjusted EBITDA (1)
|
558
|
583
|
(4.3)%
|
892
|
(37.4)%
|
NOI(2)
|
625
|
713
|
(12.3)%
|
971
|
(35.6)%
|
Offices & Others
|
Date of Acquisition
|
Gross
Leasable Area (sqm)(1)
|
Occupancy
(2)
|
IRSA PC’s Actual Interest
|
3M
22 - Rental revenues (ARS thousand) (6)
|
AAA & A Offices
|
|
|
|
|
|
Republica
Building
|
Dec-14
|
19,885
|
60.9%
|
100%
|
94,443
|
Boston Tower (6)
|
Dec-14
|
|
|
|
311
|
Intercontinental Plaza (3)
|
Dec-14
|
2,979
|
100.0%
|
100%
|
56,813
|
Dot
Building
|
Nov-06
|
11,242
|
84.9%
|
80%
|
63,353
|
Zetta
|
May-19
|
32,173
|
81.1%
|
80%
|
206,243
|
261 Della Paolera – Catalinas
(5)
|
Dec-20
|
27,690
|
84.6%
|
100%
|
241,202
|
Total AAA & A Offices
|
|
93,969
|
78.9%
|
|
662,365
|
|
|
|
|
|
|
B Offices
|
|
|
|
|
|
Suipacha
652/64
|
Dec-14
|
11,465
|
17.3%
|
100%
|
12,713
|
Philips
|
Jun-17
|
8,017
|
75.1%
|
100%
|
32,953
|
Total B Buildings
|
|
19,482
|
41.1%
|
100%
|
45,666
|
Subtotal Offices
|
|
113,451
|
72.4%
|
|
708,031
|
|
|
|
|
|
|
Other rental properties (4)
|
|
|
|
|
3,002
|
Total Offices and Others
|
|
|
|
|
705,029
|
|
Sales and Developments
|
Others
|
||||
(in ARS million)
|
3M 22
|
3M 21
|
YoY Var
|
3M 22
|
3M 21
|
YoY Var
|
Revenues
|
-
|
3
|
(100.0)%
|
9
|
3
|
200.0%
|
Net
result from fair value adjustment on investment
properties.
|
(517)
|
5,045
|
(110.2)%
|
8
|
27
|
(70.4)%
|
Realized
Result from fair value adjustments of investment
properties
|
18
|
8,163
|
(99.8)%
|
-
|
-
|
100.0%
|
Result from operations
|
(572)
|
4,529
|
(112.6)%
|
(102)
|
-36
|
183.3%
|
Depreciation
and amortization
|
2
|
5
|
(60.0)%
|
18
|
19
|
(5.3)%
|
EBITDA(1)
|
(570)
|
4,534
|
(112.6)%
|
(84)
|
-17
|
394.1%
|
Adjusted EBITDA(1)
|
(35)
|
7,652
|
(100.5)%
|
(92)
|
-44
|
109.1%
|
NOI(2)
|
-
|
3
|
(100.0)%
|
9
|
3
|
200.0%
|
Item
(stated in ARS million)
|
Income by Segment
|
Expenses and Collective Promotion Funds
|
Adjustment
for share of profit / (loss) of joint ventures (1)
|
Income Statement
|
Revenues
|
2,939
|
963
|
(24)
|
3,878
|
Costs
|
(423)
|
(998)
|
15
|
(1,406)
|
Gross profit
|
2,516
|
(35)
|
(9)
|
2,472
|
Net
result from fair value adjustments of investment
property
|
(5,793)
|
-
|
114
|
(5,679)
|
General
and administrative expenses
|
(450)
|
-
|
1
|
(449)
|
Selling
expenses
|
(262)
|
-
|
(1)
|
(263)
|
Other
operating results, net
|
33
|
17
|
1
|
51
|
Result from operations
|
(3,956)
|
(18)
|
106
|
(3,868)
|
Description
|
Currency
|
Amount (USD MM)(1)
|
Interest Rate
|
Maturity
|
Bank
loans and overdrafts
|
ARS
|
51.7
|
-
|
<
360 days
|
PAMSA
loan
|
USD
|
16.2
|
Fixed
|
Feb-23
|
IRSA
PC Notes Series II
|
USD
|
358.5
|
8.75%
|
Mar-23
|
IRSA PC’s Total Debt
|
USD
|
426.4
|
|
|
Cash & Cash Equivalents + Investments
(2)
|
USD
|
126.0
|
|
|
Intercompany
Credit
|
ARS
|
41.4
|
|
|
IRSA PC’s Net Debt
|
USD
|
259.0
|
|
|
Year
|
Dividend paid stated in terms of the measuring unit current as of
September 30, 2021
|
Dividend per share paid stated in terms of the measuring unit
current as of September 30, 2021
|
Dividend paid stated in terms of the measuring unit current as of
the date of each corresponding shareholders’
meeting
|
Dividend per share paid stated in terms of the measuring unit
current as of the date of each corresponding shareholders’
meeting
|
|
(ARS thousands)
|
(ARS)
|
(ARS thousands)
|
(ARS)
|
2018
|
3,011,046
|
23.8945
|
680,000
|
5.3962
|
2019
|
1,653,818
|
13.1241
|
545,000
|
4.3249
|
2020
|
1,199,910
|
9.5221
|
595,000
|
4.7217
|
2021
|
14,253,211
|
113.1081
|
9,700,000
|
76.9755
|
(in ARS million)
|
09.30.2021
|
09.30.2020
|
09.30.2019
|
Non-current
assets
|
163,585
|
231,209
|
168,553
|
Current
assets
|
23,173
|
22,561
|
38,047
|
Total assets
|
186,758
|
253,770
|
206,600
|
Equity
attributable to the holders of the parent
|
77,482
|
136,084
|
94,344
|
Non-controlling
interest
|
5,972
|
8,140
|
5,646
|
Total shareholders’ equity
|
83,454
|
144,224
|
99,990
|
Non-current
liabilities
|
91,022
|
92,498
|
80,778
|
Current
liabilities
|
12,282
|
17,048
|
25,832
|
Total liabilities
|
103,304
|
109,546
|
106,610
|
Total liabilities and shareholders’ equity
|
186,758
|
253,770
|
206,600
|
(in ARS million)
|
09.30.2021
|
09.30.2020
|
09.30.2019
|
Result from operations
|
(3,868)
|
24,480
|
16,046
|
Share
of profit of associates and joint ventures
|
(102)
|
904
|
752
|
Result from operations before financing and taxation
|
(3,970)
|
25,384
|
16,798
|
Financial
income
|
87
|
644
|
111
|
Financial
cost
|
(1,481)
|
(1,720)
|
(1,468)
|
Other
financial results
|
2,004
|
1,988
|
(9,747)
|
Inflation
adjustment
|
515
|
414
|
15
|
Financial results. net
|
1,125
|
1,326
|
(11,089)
|
Result before income tax
|
(2,845)
|
26,710
|
5,709
|
Income
tax
|
1,044
|
(6,435)
|
(999)
|
Result for the period
|
(1,801)
|
20,275
|
4,710
|
|
|
|
|
Attributable
to:
|
|
|
|
Equity holders of the parent
|
(1,709)
|
18,828
|
4,175
|
Non-controlling interest
|
(92)
|
1,447
|
535
|
(in ARS million)
|
09.30.2021
|
09.30.2020
|
09.30.2019
|
Net
cash generated from/ (used in) operating activities
|
1,615
|
(5,872)
|
3,094
|
Net
cash generated from/ (used in) investing activities
|
1,548
|
13,914
|
(3,580)
|
Net
cash generated used in financing activities
|
(2,749)
|
(11,671)
|
(567)
|
Net increase/ (decrease) in cash and cash equivalents
|
414
|
(3,629)
|
(1,054)
|
Cash
and cash equivalents at beginning of year
|
867
|
7,595
|
9,851
|
Financial
Results from cash and cash equivalents
|
44
|
50
|
691
|
Inflation
adjustment
|
(337)
|
(11)
|
(30)
|
Cash and cash equivalents at period-end
|
988
|
4,005
|
9,458
|
(in ARS million)
|
09.30.2021
|
|
09.30.2020
|
|
09.30.2019
|
|
Liquidity
|
|
|
|
|
|
|
CURRENT
ASSETS
|
23,173
|
1.89
|
22,561
|
1.32
|
38,047
|
1.47
|
CURRENT
LIABILITIES
|
12,282
|
|
17,048
|
|
25,832
|
|
Indebtedness
|
|
|
|
|
|
|
TOTAL
LIABILITIES
|
103,304
|
1.33
|
109,546
|
0.80
|
106,610
|
1.13
|
SHAREHOLDERS’
EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT
|
77,482
|
|
136,084
|
|
94,344
|
|
Solvency
|
|
|
|
|
|
|
SHAREHOLDERS’
EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT
|
77,482
|
0.75
|
136,084
|
1.24
|
94,344
|
0.88
|
TOTAL
LIABILITIES
|
103,304
|
|
109,546
|
|
106,610
|
|
Capital Assets
|
|
|
|
|
|
|
NON-CURRENT
ASSETS
|
163,585
|
0.88
|
231,209
|
0.91
|
168,553
|
0.82
|
TOTAL
ASSETS
|
186,758
|
|
253,770
|
|
206,600
|
|
|
|||
|
2021
|
2020
|
2019
|
Result
for the period
|
(1,801)
|
20,275
|
4,710
|
Interest
income
|
(87)
|
(644)
|
(112)
|
Interest
expense
|
1,369
|
1,507
|
1,351
|
Income
tax expense
|
(1,044)
|
6,435
|
999
|
Depreciation
and amortization
|
81
|
108
|
108
|
EBITDA
|
(1,482)
|
27,681
|
7,056
|
Unrealized
result from fair value adjustments of investment
properties
|
5,697
|
(16,638)
|
(13,087)
|
Share
of loss/ (profit) of associates and joint
ventures
|
102
|
(904)
|
(752)
|
Foreign
exchange, net
|
(2,137)
|
139
|
9,568
|
Result
from derivative financial instruments
|
(3)
|
274
|
(342)
|
Fair
value (gain)/ loss of financial assets and liabilities at fair
value through profit or loss
|
135
|
(2,370)
|
531
|
Other
financial costs
|
112
|
213
|
117
|
Repurchase
of non-convertible notes
|
1
|
(31)
|
(9)
|
)Inflation
adjustment
|
(515)
|
(414)
|
(15)
|
Adjusted EBITDA
|
1,910
|
7,950
|
3,067
|
Adjusted EBITDA Margin(1)
|
66.5%
|
582.4%
|
110.2%
|
|
|||
|
2021
|
2020
|
2019
|
Gross
profit
|
2,472
|
985
|
3,812
|
Selling
expenses
|
(263)
|
(614)
|
(252)
|
Depreciation
and amortization
|
81
|
108
|
108
|
Realized
result from fair value of investment properties
|
18
|
8,163
|
-
|
NOI (unaudited)
|
2,308
|
8,642
|
3,668
|
|
|||
|
2021
|
2020
|
2019
|
Result
for the period
|
(1,801)
|
20,275
|
4,710
|
Unrealized
Result from fair value adjustments of investment
properties
|
5,697
|
(16,638)
|
(13,087)
|
Depreciation
and amortization
|
81
|
108
|
108
|
Foreign
exchange, net
|
(2,137)
|
139
|
9,568
|
Loss
from derivative financial instruments
|
(3)
|
274
|
(342)
|
Fair
value (gain)/ loss of financial assets and liabilities at fair
value through profit or loss
|
135
|
(2,370)
|
531
|
Other
financial costs
|
112
|
213
|
117
|
Deferred
income tax
|
(2,466)
|
6,433
|
996
|
Non-controlling
interest
|
92
|
(1,447)
|
(535)
|
Non-controlling
interest related to PAMSA’s fair value
|
(27)
|
1,379
|
614
|
Share
of loss/ (profit) of associates and joint ventures
|
102
|
(904)
|
(752)
|
Inflation
adjustment
|
(515)
|
(414)
|
(15)
|
Repurchase
of non-convertible notes
|
1
|
(31)
|
-
|
Adjusted FFO
|
(729)
|
7,017
|
1,913
|