TGLT S.A. Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018
November 08, 2018
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TGLT S.A. reported consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported revenue of $1,156.2 million against $204.1 million a year ago. Loss before Income tax was $1,576.4 million against $213.4 million a year ago. Operating income was $121.0 million against operating loss of $88.9 million a year ago. Net loss attributable to shareholders of the parent was $1,074.1 million or $1.38 per diluted share against $158.4 million or $0.80 per diluted share a year ago. Net cash flow used in operational activities was $86.0 million against $461.0 million a year ago. Payments for purchase of PP&E were $5.0 million against $0.2 million a year ago.
For the nine months, the company reported revenue of $2,733.6 million against $851.0 million a year ago. Loss before Income tax was $2,407.1 million against $269.1 million a year ago. Operating income was $473.0 million against operating loss of $105.6 million a year ago. Net loss attributable to shareholders of the parent was $1,632.6 million or $2.98 per diluted share against $205.2 million or $1.47 per diluted share a year ago. EBITDA was $493.3 million compared to $14.2 million a year ago. Adjusted EBITDA was $902.2 million compared to $191.9 million a year ago. Net cash flow used in operational activities was $345.9 million against $583.5 million a year ago. Payments for purchase of PP&E were $21.3 million against $0.4 million a year ago.
GCDI SA is an Argentina-based company primarily engaged in the real estate sector. The Company focuses on the land acquisition, as well as development, management, lease and sale of residential and office properties, mainly located in urban centers of Argentina and Uruguay. The Company outsources the architecture and construction services of its projects to other strategically allied companies. The Companyâs projects portfolio includes Forum Puerto Norte, Forum Alcorta, Astor Palermo, Astor Caballito, Astor Nunez, Venice, Forum Puerto del Buceo, Metra Puerto Norte, Proa and Metra Devoto, among others. The Company owns a number of subsidiaries, such as Pico y Cabildo SA, Birzey International SA and Canfot SA.