Hello. results. Good year fiscal XXXX afternoon, everyone, our and welcome to
to of fly I more would does. to maybe were like you. all Since all, with we will the of America, First not rustic to apologize able and go English usually so restrictions, COVID-XX to than our it even sound
for So, excuse everybody. that, I with
The for a big the been starting much our of office time. for of the results XXXX, pandemic. were tenants of adopted year restrictions this modality. that affected shopping for closed work this Company's So, period And malls a very remain have we despite the most with COVID-XX remote operational, fiscal the
X mainly seeing We figures, XX%, to our EBITDA So, -- able going had ARS EBITDA. and of some adjusted and assets. some developments some our sales with dispose by to sell billion, we'll XX.X our that achieving an grew were We adjusted explained number segment. page start
decrease reflecting on XX% X.X last malls in ARS cases XX% segment in the -- a But office segment We also shopping in office segment, and malls. ARS and will producing the of nevertheless, from shopping from billion we cash bit talk office a segment little billion at year later. X were the the the year both shopping on and the previous at of levels segment,
This this billion of of controlling the a a billion. was income in value loss ARS compared billion. negative to fair is year to gain the On a big now the of net the later. of from mainly impact explained these tax Both and balance change the also are impacts sheet, income showing is the it and deferred our will of investment and very value of properties was -- future XX.X by produces was changed explain XX% -- attributable Matías negative for income the Net deferred investment as noncash a ARS XX the impact. to tax, XX% that last the company also ARS net XX.X tax that impacts to gain
apples page, of compared the On we different the are to were the years, two different we the open but down were with bottom last times. because XX%, sales not comparing year, in apples for
news difficult a segment. center quarter is year is this on completely of very the good to last on we closed, and a later going almost see shopping of recovery good was last What increase the to compare. is the open see almost on quarter, So, year increase it's XXX% because we're this and tremendous
good the portfolio, meter we of have On activity, seeing are terms the terms month. we may very square we office about XX%. an per bit later. we'll be the we worst see at and occupancy. of -- $XX.X worst malls in -- And -- pictures are It little on in per average the about is talk future, a the this seeing rent picture Occupancy
building in we operation. full sales. Della not of portfolio. main occupied of is -- occupancy those see opened year the restrictions, we we we -- occupied working this new XX%, still quality for the our gradually recovery is modality. office normal flight main decided is of explained assets We office operation disposing is and that million opening was mainly part a not office still The XXX were portfolio, terms now to home Catalinas. quality because about it's that the office the We the and $XXX what in despite office fully are sales. And under did segment We events in On were what Paolera, COVID full our of
for of financial On year none. we the the operating number we see of can that On million in we when see June terms dividend in and the in this started $XXX million cancellation side, us can year, approximately we page did this of X, March, of we operation. we and approximately started year. that sorry, how have We were a paid $XXX lockdown was debt, -- almost
the And in reopen conditions. were expected, operators the again and open not XX% of to operate only of from wanted XX%. allow allow our that cities open. since December our first to a of to but at by and imposed XX but rest, activity of Buenos took shoppings producing of to only And June that so year, of provinces until X% And end XXX% moved June the We another was to in more better April and recovery, of open had in had GLA by March, the many lockdown, to are open. open coming a to city, income. get good because interest not the so us the normal This us lockdown, us able we operating people shopping centers. our little Our at XX, were especially restrictions, total did were bit the allow city time, Aires operation to was the the this only Nevertheless, then, we we that is amount Buenos wave see a to we and Aires till was in centers. in shopping all -- a since centers, people only shopping total the restrictions that brands down quarter not during we GLA this more allow lot that the into had not second we we advance, of seeing
didn't help long in only That pay that tenants to relationships also high. occupancy this. common period numbers took the one it the of with thing value X, kept cancel our the we the did And and base -- our remember to our rent to charge not it During demonstrating you we any rents, COVID, here and that, is can expenses. time and cost. of in expense about portfolio. periods. contract of very option, -- them. And And important to we the tenants we period the tenant our -- see us that of of lockdown On that nevertheless, leave page some they them. the this our during to term strength Argentina, allowed common create majority And allows fund during the the the We the waived see was commercial because the We about was were lease. burning really Tenants we were number charged cash. for the
We period, or COVID hope leave our a lost going to was -- recovered and operations. the to empty. good and especially lockdown, to of high bringing we're go during close left very stores exit Nevertheless, exits, us the Walmart, giving XXX occupancy levels a open, some working the During lockdown that back for we new stores. XXX That after us we to others meters example, Falabella in team is country square signed that of term. that that to short international and not means decided see lot people and we
the others, is In of new of only these used that XX% the we And of be. -- it past, sorry, the new XX% than to are on very have contracts we restaurants, XX breakdown at can see XX% and the you can used the were different services terms see contracts, new clothing, apparel. In to now breakdown electronics. on contracts
So, our transformation more are centers. procuring are centers into the also more a in living and shopping good services experiences, looking customers the what giving giving
to we that this lockdown, the that produced cost show And the did team again, a of will SG&A, than effort was reduction did that terms reduction will for Nevertheless, do. suffered the of XX% big to to team cost. not we because Unfortunately, that we the now and benefit good work of keep reduction to is more start cost because this XX%. business able the the a future. the business to the the In be grow see we in business, and expect able cost allowing
working Nevertheless, -- to X impact I earlier, occupancy in us of to Falabella were would terms by represents, and space the left I XX% and that space, to the the the year left delinquency. better what you terms I you But so is delinquency, X.X% we again, in because in we the remember Chapter at Falabella. And We Nevertheless, to similar. last manage big from and between of the in able and tenant now XXX shoppings revenues, this completely we that are million end figures than and points delinquency. in leave country and unfortunately, that been a see it's exclude the showing empty the revenue the reduction difference with explained just see recovery the the them revenues. with the Dot, to bringing this away. of I is this in year working had new fiscal on that also we a lost that the moment we work year ARS pay would we This we XX.X%. the closing had did they the go of much occupancy that the of they and remember. the terms shopping tenants are and the million. our July Avellaneda, not and stable, want is big delinquency with team get is have was And store to past, finished same very are seeing XXX this ability percentages. this tenants was -- that the of GLA in few is Shopping into last of contracts going centers. And And see [ph] X.X% able It ones is told and We terms shopping Soleil like -- department see tell them nevertheless, to rest, when lowest in August, get empty explained total going reduce In that this that because the remains mainly all we that, the that only by lockdown, XX.X%. and malls, down reopened. three, ability year. they shut are ARS sales. visitors, is they space a we to mean, of had in that If in the so big in team were of can centers month these of Walmart. delinquency this we of reopened of that now majority XX%, we the of XX that stores,
In when compare these you we XX% which terms totally of reopening, an inflation with we of quarter two make that the told quarter rate we this inflation XXX%, comparing And are sales, to of of a have X% in now variation measure closed growth a in real is I months big difficult if we Nevertheless, to because been last now was compare expected it's as between the see, last totally the never year open. between opened this terms, XX% 'XX XXXX, English. and whole of this see different we see nominally. amount the apples to the years shoppings will outliers. year two on, to with because years. XXXX, of this very about XXXX I year's we reduction. If on growth we had drop compare with -- would it's this start From to on apples
I So, hope you understand.
an office big we a our quality, and XXX quality. decrease portfolio, meters, GLA old totally in Bouchard is slight used meters, the we and have and We looking. square to now design The very is have to but we also XXX,XXX we We did is smaller used total standards is have. were what the quality a important used to Tower. transformation We year good our we are very better different. a good have That plate. had square now -- and Boston similar. portfolio What this very buildings, size to of greener, have floor the but XXX,XXX to small, flight Regarding sold what newer, tenants better with it's only
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don't modality exclusive for in know to we to be these co-working if going they offices. are So, these or remote spaces. starting a And produce
We are for spaces new for working these also to our and produce tenants. tenants
see coming from occupancy, we're Regarding that we XX%.
department they also buildings incorporated the the a Dot -- us, is but office that and portfolio Falabella, showing only they Now, the of XXX This left the at because us we occupied Paolera almost list country. not left explained setup at occupied not I of of XX%. our is by assets. also and B mainly building we at as were the the saw space Della again, is in store of center. the mentioned, running that Shopping for-sale office vacant in all And in big are -- we and it's building space left The the the we Centers XX%. because This Suipacha class, that fully the it's Polo fully
at the pressure last In end end reduction June, fully is to The is a see -- our like what or of this see we not have occupied, on of this see of segment. the be compressing terms to where immediately. on is price we are a this is reflected price. of the office yet some It's small the $XX.X good what news used quality, quarter. be for. ready We and that price, also to It's build-to-suit we $XX.X companies some of the is and that some something at best fully space ready looking year
Regarding disposition, were dispositions. plates not rate we for cap we are looking one efficient million, good of the very $XXX average sold approximately an floor these X%, were for. two so buildings The as
ready The Paolera, of already getting we looking ready plates more building, floor the to for big to prefer this are XXX Nothing big headquarters previous efficient December, about the are spoke that in our big for now. that functional work quarters. more new be our they tenants we We on We plates. opened new, the LEED-certified, new is it's in opened building, on process Della certification. full and the
our quality was X,XXX We Buenos the and XX under the On building the decision and of of of best the as -- are working are and investment, really number GLA. this of from show square have good XX residential of -- that good building. meters is agreements it premium tenants floors, of very And very XX% location. also of the the of It's best a we already barter are value was flight page best building here we city the Aires. and occupied. hidden of The and the we to this Company. X, are of of is building And value our the some -- some working quality June best in the the happy are a portfolio hidden construction demonstrated, our a it the actually to
in Coto received the Abasto approximately This gave in to have We land in Shopping to these for Córdoba in we're that receive the land Caballito. developers, in to and that square Airspace We to first Córdoba XXX, the three plot. did. is we [X,XXX] and going projects swaps next -- adjacent give XXX the we are meters going (sic) for the be future
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First in and the the discounts of application, shoppings, in in all, It's shoppings APPA. loyalty benefits, we a offering XXX% out shoppings. digital launched brands,
As few ago, of of application. a had X downloads days we million this
of users. reserve use corporate can -- can desk. reserve X,XXX an corporations is you you have office, We where this for application This a
the many center. what application it And we the use today, The to you parking we in internally it Also, use for serves track outside into That can the benefit the the get doing APPA in can and and through that you a shoppings. of the you way to Instead we the people more restaurants, of the have shopping Company The shoppings You lunch. use pay users. -- have same And application to in transactions the we for are lunch get many means through is can employees application. method co-working. the pay that XXX,XXX parking also the pay this Pay application approved paying of as will application a than we X parking. cashier, million be about that the to like may today you to serve parking allow pay launched, know.
small only of centers. stores APPA idea open ready can the make not centers number. the our also not to was was units, fixed to pay our It of our was possible physical, to a It soon be none units. in shopping centers. it application you card Cheque gift it shopping have We Gift, launched the And it Regalo. to which the shopping the with in -- is in is majority our So, in used And initially.
in money card. have buy, not it. able easier And APPASHOPS. to benefits, more APPA Gift Also You APPA, year what you as of much amount gift send now, to see a will to through this the had were the allow we application, easier to user the the in launched
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that can all country. While open make and you a mouth people have the and this getting today, It's as are the new traction. it pickup internet, ask orders to the people is working want pick choose you logistics, and but around withdrawn they of in all and pickup. brands. delivery also That it's challenge with people is that And company that were of it's orders With buy of do XX% to system a shopping the we on are can country, things the By the some center, into only of all operations, mouth, over mouth. in the up we make brands, a working all done lot. to the this. in only means few shopping, saying power the to getting but the were already we And the parking incorporating XX% space, those with functional.
to technologically, did with be that make easier more tenants to many also We do As us customers. more brands, transactions efficient, with were for transform we our allowed able our new and during things also our with big to information, efforts the have year customers. to and I our to internally mentioned,
of examples. are the some Here
signing now We digitally. are contracts
we're tenants things and that use. make customers. a CRM, working the we our of are for to and also the We relationship are things customer options with with the We lot. deployment using charges And we common a buying buy
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efficient online us, way, very it to we promotions, activities that other information relationship to to make in on-time have tenants. did, use our way, for One an For in easy very did have that way TelePresence. decisions and information an thing important with good was we a
a took kiosks we that, out the having we to were it that And customer all So of TelePresence. move instead relationship.
service, So, representants costs. digital with telephone in directly or we Also, robotics. help information, costs. our we service, saving the giving of tenant saving On communicate or digital have company are the service In we a -- this, did can whatever. top to are better that we you the some stands with majority of of stand get through a
also here, the our On the done real doing be are of many XX, quality in page were procedures of Sustainability help work. indicators. in that seeking used of reduction that and of our showing operations with to people by recent We're efficiency we're on that is are always in estate best strategy. projects. Company's that us And done So, reducing to standards part now cost piece ESG number bots environmental achieve errors. some certification figures the our and high in
that On see have our environmental ISO a certifications. of short are with of or front, malls in to environmental of we XX% certificate time. building XX% very be And LEED ready can certified the period our certified we
were of leaders waste, We always this. at active our very about years were many, to working but it's for very for We not reduce always materials important aspect it. sorry, it recycling that now this on front work we us. city are been for social It's But, with teams the to we this promoters and showing have Regarding and in people talking lead our the companies. regarding in and management, that we others many recovery. treated important so manage of our the and we were the -- always plastic the and
front, NGOs. with On we active the very social have been
this working the been time. has education, have to And the contribute with done people have them old year, of foundation we it's have of a we lot for housing. here, we see an but in million to Fundación It's were gave organization. with and to the lot years helping we that for a Fundación XXX As we you -- women been very and have working now. ARS development IRSA many through been -- XX are we majority we Company, that IRSA on health volunteers the the a NGOs, XX of also, And can been And work, working regarding long the access working exactly. to
As we here you the we women. believe and important XX% doing really be Company the to And But us see chart, and we're internally Board, involved. have within the teams, in in work And promote and and working everybody can to this inclusion on our diversity in in our of are and It's to pressing for teams have hard also, we us, in are are because the our teams to internally all externally more it. with diversity the teams. all inclusion of over and open conscious managers.
for results, CFO. Gaivironsky, financial now our So, Matías some
