S A N T A N D E R ´ S 2 6 T H A N N U A L L A T A M C O N F E R E N C E
I N S T I T U T I O N A L P R E S E N T A T I O N J A N U A R Y 2 0 2 2
ABOUT US
LEADING REAL ESTATE COMPANY
IN ARGENTINA
30 years acquiring, developing and operating real estate. Rental Portfolio of more than 500,000 sqm of GLA.
UNIQUE PORTFOLIO OF ASSETS
- 15 shopping malls - 336,000 GLA sqm
- 7 office buildings - 113,000 GLA sqm
Owner of 3 premium hotels in Argentina - 79,000 sqm
30%
SHOPPING
DEVELOPMENT PROPERTIES
~20 mm sqm premium landbank for future developments.
Investment in Banco Hipotecario (30% stake) - potential
synergies with the development of mortgage market in the
MALLS
OFFICES HOTELS LANDBANK
country.
EXPERIENCED MANAGEMENT TEAM
With proven track record in the industry
CAPITAL MARKETS TRACK RECORD
+25 years listed on the NYSE and +70 years on BYMA,
accessing to international and local capital markets
Rental segment | Development |
segment |
2
RENTAL SEGMENT - 25 PROPERTIES
SHOPPING MALLS | OFFICES | HOTELS | |||
15 | 67% | 7 | 10% | 3 | 718 |
# Malls | BA City Market Share | # Office buildings | BA City Market Share | Premium hotels in Argentina | rooms |
79,000 | |||||
336,000 | 113,000 | ||||
GLA sqm | GLA sqm | sqm | |||
Dot Building
Philips
Zetta
Della Paolera 261
Suipacha
República
Intercontinental
Expanding Corporate North Area
Business Center
AAA Location
Back Office Center
3
COVID IMPACT & COMPANY MANAGEMENT
SHOPPING MALLS | OFFICES | HOTELS |
- Closed operations for 7 months (mar-oct 2020 & apr-jun 2021)
- Commercial policy to support tenants: waive of base rent and advertising fund only charging common expenses
- Focus on cost reduction, operational efficiency and preservation of occupancy
ADJ. EBITDA (USD MM) & OCCUPANCY
- Normal revenues collection even though home office work modality
- Impact in vacancy and rental price, mostly in B class
- High liquidity in premium buildings
- Companies are returning to offices through a hybrid work modality
ADJ. EBITDA (USD MM) & OCCUPANCY |
- Closed operations for 9 months (mar-dec 2020). Focus on cost reduction and efficiency
- Good recovery in Llao Llao Resort due to local tourism while BA hotels are operating with low occupancy since flights and international tourism are still restricted.
EBITDA (USD MM) & OCCUPANCY |
98,5% 98,5%
143 141
Pandemic effect
94,7% 93,2% 89,9%
93
58
19
96,7% | 92,3% | Pandemic effect | ||
88,3% | ||||
86,1% | 80,1% A &A+ | |||
74,7% | ||||
21 | 19 | 26 | 28 | 25 |
67,8% | 70,5% | 66,9% | Pandemic effect |
45,8% | |||
12,2% | |||
1 | 2 | 12 | 9 |
0 |
FY 17 | FY 18 | FY 19 | FY 20 | FY 21 |
FY 17 | FY 18 | FY 19 | FY 20 | FY 21 |
FY 17 | FY 18 | FY 19 | FY 20 | FY 21 |
4 4
RENTAL FIGURES EVOLUTION
TENANTS SALES RECOVERY IN SHOPPING MALLS SINCE REOPENINGS
OFFICES PERFORMANCE
SAME SHOPPING MALLS SALES
(% Var i.a.)
Pre COVID-19
Information compared with | ||||||||||
pre-pandemic figures given | IN REAL | |||||||||
the closure of operations | ||||||||||
TERMS | ||||||||||
during 2020 | ||||||||||
-10,7% | ||||||||||
-55,9% | ||||||||||
IVQ 21 vs. IVQ 19 | IQ 22 vs. IQ 20 | |||||||||
570,0%
COVID-19
322,0%
OCCUPANCY BY
CLASS
A+ & | 93,0% | 91,6% | ||||||||||||
81,2% | ||||||||||||||
79,5% | 80,1% | |||||||||||||
78,90% | ||||||||||||||
A | ||||||||||||||
B | ||||||||||||||
56,7% | ||||||||||||||
53,6% | ||||||||||||||
52,4% | 52,4% | |||||||||||||
48,5% | ||||||||||||||
41,1% | ||||||||||||||
IVQ 20 | IQ 21 | IIQ 21 | IIIQ 21 | IVQ 21 | IQ 22 |
LEASES
(USD/sqm/month)
5,6% | 0,4% | ||||||||||||||||||||||||||||||||||
-5,1% | |||||||||||||||||||||||||||||||||||
-13,5% | -11,9% | ||||||||||||||||||||||||||||||||||
-35,2% | |||||||||||||||||||||||||||||||||||
-78,8% | |||||||||||||||||||||||||||||||||||
-93,4% | |||||||||||||||||||||||||||||||||||
IVQ 19 IQ 20 IIQ 20 IIIQ 20IVQ 20 IQ 21 IIQ 21 IIIQ 21IVQ 21 IQ 22
26,6 | 26,0 | 25,7 | 25,4 | 25,7 | 25,1 |
IVQ 20 | IQ 21 | IIQ 21 | IIIQ21 | IVQ21 | IQ225 |
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IRSA Propiedades Comerciales SA published this content on 20 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2022 20:20:42 UTC.