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v3.19.3

Summary of significant accounting policies (Tables) | 12 Months Ended
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Jun. 30, 2019
Summary of Significant Accounting Policies [Abstract] |
Schedule of evolution of these indices |
Annual price variation |  | June 30, 2017 |  | June 30, 2018 |  | June 30, 2019 |  | Cumulative as of June 30, 2019 (3 years)
|  | 19% |  | 29% |  | 56% |  | 139%
Schedule of income and other comprehensive income | Standards and amendments adopted by the Group
Standards and amendments |  | Description |  | Date of mandatory adoption for the Group in the year ended on
Amendments to IAS 40 "Transfers of Investment Properties" |  | Clarifies the conditions that should be met for an entity to transfer a property to, or from, investment properties. |  | 06-30-2019
Cycle of annual improvements 2014-2016. IAS 28 "Investments in Associates and Joint ventures". |  | Clarifies that the option to measure an associate or a joint venture at fair value for a qualifying entity is available upon initial recognition. |  | 06-30-2019
IFRS 9 "Financial Instruments". |  | Adds a new impairment model based on expected losses and introduces some minor amendments to the classification and measurement of financial assets. |  | 06-30-2019
IFRS 15 "Revenues from contracts with customers" |  | Provides the new revenue recognition model derived from contracts with customers. The core principle underlying the model is satisfaction of performance obligations assumed with customers. Applies to all contracts with customers, except those covered by other IFRSs, such as leases, insurance and financial instruments contracts. The standard does not address recognition of interest or dividend income. |  | 06-30-2019
Amendments to IFRS 2 "Share-based Payment". |  | The amendments clarify the scope of the standard in relation to (i) accounting of the effects that the concession consolidation conditions have on cash settled share-based payments, (ii) the Classification of the share-based payment transactions subject to net settlement, and (iii) accounting for the amendment of terms and conditions of the share-based payment transaction that reclassifies the transaction from cash settled to equity settled. |  | 06-30-2019
Standards and amendments not yet adopted by the Group
Standards and amendments |  | Description |  | Date of mandatory adoption for the Group in the year ended on
IFRS 16 "Leases". |  | Will supersede IAS 17 currently in force (and associated interpretations) and its scope includes all leases, with a two specific exceptions (low cost assets' leases and short-term leases). Under the new standard, lessees are required to account for leases under one single model in the balance sheet that is similar to the one used to account for financial leases under IAS 17. The accounting of the lessor has no significant changes. |  | 06-30-2020
Amendment to IAS 28 "Investment in associates and joint ventures |  | Requires the adoption of IFRS 9 regarding long-term investments that are essentially part of the net investment of an entity in an associate or joint venture |  | 06-30-2020
Definition of Material - Amendments to IAS 1 and IAS 8 |  | The IASB has made modifications to IAS 1 "Presentation of Financial Statements and IAS 8 "Accounting policies, changes in accounting estimates and errors" requires that the materiality be consistent for the application of IFRS. |  | 06-30-2020
Defining a business - Amendments to IFRS 3 |  | The new business definition requires that a business combination contribute significantly to creating products or services. |  | 06-30-2020
Schedule of financial position |
|  | According to previous standards |  |  | Implementation of IFRS 15 |  |  | Current statement of income |
Revenues |  |  | 66,972 |  |  |  | 2,795 |  |  |  | 69,767 |
Costs |  |  | (39,638 | ) |  |  | (2,362 | ) |  |  | (42,000 | )
Gross profit |  |  | 27,334 |  |  |  | 433 |  |  |  | 27,767 |
Net gain from fair value adjustment of investment properties |  |  | (23,710 | ) |  |  | - |  |  |  | (23,710 | )
General and administrative expenses |  |  | (7,714 | ) |  |  | - |  |  |  | (7,714 | )
Selling expenses |  |  | (9,875 | ) |  |  | 1,158 |  |  |  | (8,717 | )
Other operating results, net |  |  | 301 |  |  |  | - |  |  |  | 301 |
Profit from operations |  |  | (13,664 | ) |  |  | 1,591 |  |  |  | (12,073 | )
Share of profit of associates and joint ventures |  |  | (4,853 | ) |  |  | (36 | ) |  |  | (4,889 | )
Profit before financial results and income tax |  |  | (18,517 | ) |  |  | 1,555 |  |  |  | (16,962 | )
Finance income |  |  | 1,407 |  |  |  | - |  |  |  | 1,407 |
Finance costs |  |  | (15,830 | ) |  |  | (31 | ) |  |  | (15,861 | )
Other financial results |  |  | 2,878 |  |  |  | - |  |  |  | 2,878 |
Inflation adjustment |  |  | (479 | ) |  |  | - |  |  |  | (479 | )
Financial results, net |  |  | (12,024 | ) |  |  | (31 | ) |  |  | (12,055 | )
Income before income tax |  |  | (30,541 | ) |  |  | 1,524 |  |  |  | (29,017 | )
Income tax expense |  |  | 2,052 |  |  |  | (362 | ) |  |  | 1,690 |
Income for the period from continuing operations |  |  | (28,489 | ) |  |  | 1,162 |  |  |  | (27,327 | )
Loss for the period from discontinued operations |  |  | 480 |  |  |  | - |  |  |  | 480 |
Profit for the period |  |  | (28,009 | ) |  |  | 1,162 |  |  |  | (26,847 | )
|  | 07.01.2018 |
|  | Implementation of IFRS 15 |  |  | Implementation of IFRS 9 |  |  | Total |
ASSETS |  |  |  |  |  |  |  |  |
Non- Current Assets |  |  |  |  |  |  |  |  |
Trading properties |  |  | (4,143 | ) |  |  | - |  |  |  | (4,143 | )
Investments in associates and joint ventures |  |  | 159 |  |  |  | (258 | ) |  |  | (99 | )
Deferred income tax assets |  |  | (230 | ) |  |  | - |  |  |  | (230 | )
Trade and other receivables |  |  | 393 |  |  |  | (126 | ) |  |  | 267 |
Total Non-Current Assets |  |  | (3,821 | ) |  |  | (384 | ) |  |  | (4,205 | )
Current Assets |  |  |  |  |  |  |  |  |  |  |  |
Trading properties |  |  | (1,048 | ) |  |  | - |  |  |  | (1,048 | )
Trade and other receivables |  |  | 418 |  |  |  | (10 | ) |  |  | 408 |
Total Current Assets |  |  | (630 | ) |  |  | (10 | ) |  |  | (640 | )
TOTAL ASSETS |  |  | (4,451 | ) |  |  | (394 | ) |  |  | (4,845 | )
SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Capital and reserves attributable to equity holders of the parent |  |  |  |  |  |  |  |  |  |  |  |
Retained earnings |  |  | 143 |  |  |  | (374 | ) |  |  | (231 | )
Total capital and reserves attributable to equity holders of the parent |  |  | 143 |  |  |  | (374 | ) |  |  | (231 | )
Non-controlling interest |  |  | 186 |  |  |  | (190 | ) |  |  | (4 | )
TOTAL SHAREHOLDERS' EQUITY |  |  | 329 |  |  |  | (564 | ) |  |  | (235 | )
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |
Non-Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Trade and other payables |  |  | (1,933 | ) |  |  | - |  |  |  | (1,933 | )
Borrowings |  |  | - |  |  |  | 206 |  |  |  | 206 |
Deferred income tax liabilities |  |  | (53 | ) |  |  | (113 | ) |  |  | (166 | )
Total Non-Current Liabilities |  |  | (1,986 | ) |  |  | 93 |  |  |  | (1,893 | )
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Trade and other payables |  |  | (2,794 | ) |  |  | - |  |  |  | (2,794 | )
Borrowings |  |  | - |  |  |  | 77 |  |  |  | 77 |
Total Current Liabilities |  |  | (2,794 | ) |  |  | 77 |  |  |  | (2,717 | )
TOTAL LIABILITIES |  |  | (4,780 | ) |  |  | 170 |  |  |  | (4,610 | )
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES |  |  | (4,451 | ) |  |  | (394 | ) |  |  | (4,845 | )
|  | 01.07.2019 |
|  | IFRS 16 Impact |  |  | IAS 28 Impact |  |  | Total |
ASSETS |  |  |  |  |  |  |  |  |
Non-current assets |  |  |  |  |  |  |  |  |
Investment property |  |  | 298 |  |  |  | - |  |  |  | 298 |
Right-of-use assets |  |  | 9,855 |  |  |  | - |  |  |  | 9,855 |
Investments in associates and joint ventures |  |  | - |  |  |  | (1,373 | ) |  |  | (1,373 | )
Trade and other receivables |  |  | 84 |  |  |  | - |  |  |  | 84 |
Total non-current assets |  |  | 10,237 |  |  |  | (1,373 | ) |  |  | 8,864 |
Current assets |  |  |  |  |  |  |  |  |  |  |  |
Income tax credit |  |  | 12 |  |  |  | - |  |  |  | 12 |
Trade and other receivables |  |  | (119 | ) |  |  | - |  |  |  | (119 | )
Assets held for sale |  |  | 2,184 |  |  |  | - |  |  |  | 2,184 |
Total current assets |  |  | 2,077 |  |  |  | - |  |  |  | 2,077 |
TOTAL ASSETS |  |  | 12,314 |  |  |  | (1,373 | ) |  |  | 10,941 |
SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Shareholders' equity attributable to equity holders of the parent |  |  |  |  |  |  |  |  |  |  |  |
Retained earnings |  |  | (131 | ) |  |  | (778 | ) |  |  | (909 | )
Shareholders' equity attributable to Non-controlling interest |  |  | (131 | ) |  |  | (778 | ) |  |  | (909 | )
Non-controlling interest |  |  | - |  |  |  | (595 | ) |  |  | (595 | )
TOTAL SHAREHOLDERS' EQUITY |  |  | (131 | ) |  |  | (1,373 | ) |  |  | (1,504 | )
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |
Non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |
Lease liabilities |  |  | 7,432 |  |  |  | - |  |  |  | 7,432 |
Total non-current liabilities |  |  | 7,432 |  |  |  | - |  |  |  | 7,432 |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |
Lease liabilities |  |  | 2,745 |  |  |  | - |  |  |  | 2,745 |
Trade and other payables |  |  | (48 | ) |  |  | - |  |  |  | (48 | )
liabilities held for sale |  |  | 2,316 |  |  |  | - |  |  |  | 2,316 |
Total current liabilities |  |  | 5,013 |  |  |  | - |  |  |  | 5,013 |
TOTAL LIABILITIES |  |  | 12,445 |  |  |  | - |  |  |  | 12,445 |
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES |  |  | 12,314 |  |  |  | (1,373 | ) |  |  | 10,941 |
Schedule of business through several operating and investment companies |
|  |  |  |  |  | % of ownership interest held by the Group |
Name of the entity |  | Country |  | Main activity |  | 06.30.2019 |  |  | 06.30.2018 |  |  | 06.30.2017 |
IRSA's direct interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
IRSA CP (1) |  | Argentina |  | Real estate |  |  | 82,35 | % |  |  | 86,34 | % |  |  | 94,61 | %
E-Commerce Latina S.A. |  | Argentina |  | Investment |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
Efanur S.A. |  | Uruguay |  | Investment |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
Hoteles Argentinos S.A. |  | Argentina |  | Hotel |  |  | 100,00 | % |  |  | 80,00 | % |  |  | 80,00 | %
Inversora Bolívar S.A. |  | Argentina |  | Investment |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
Llao Llao Resorts S.A. (2) |  | Argentina |  | Hotel |  |  | 50,00 | % |  |  | 50,00 | % |  |  | 50,00 | %
Nuevas Fronteras S.A. |  | Argentina |  | Hotel |  |  | 76,34 | % |  |  | 76,34 | % |  |  | 76,34 | %
Palermo Invest S.A. |  | Argentina |  | Investment |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
Ritelco S.A. |  | Uruguay |  | Investment |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
Tyrus S.A. |  | Uruguay |  | Investment |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
U.T. IRSA y Galerias Pacifico (2) |  | Argentina |  | Investment |  |  | 50,00 | % |  |  | 50,00 | % |  |  | 50,00 | %
IRSA CP's direct interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Arcos del Gourmet S.A. |  | Argentina |  | Real estate |  |  | 90,00 | % |  |  | 90,00 | % |  |  | 90,00 | %
Emprendimiento Recoleta S.A. |  | Argentina |  | Real estate |  |  | 53,68 | % |  |  | 53,68 | % |  |  | 53,68 | %
Fibesa S.A. (3) |  | Argentina |  | Real estate |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
Panamerican Mall S.A. |  | Argentina |  | Real estate |  |  | 80,00 | % |  |  | 80,00 | % |  |  | 80,00 | %
Shopping Neuquén S.A. |  | Argentina |  | Real estate |  |  | 99,95 | % |  |  | 99,92 | % |  |  | 99,92 | %
Torodur S.A. |  | Uruguay |  | Investment |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
EHSA |  | Argentina |  | Investment |  |  | 70,00 | % |  |  | 70,00 | % |  |  | 70,00 | %
Centro de Entretenimiento La Plata |  | Argentina |  | Real estate |  |  | 100,00 | % |  |  | 100,00 | % |  |  | - |
Pareto S.A. |  | Argentina |  | design and software development |  |  | 69,69 | % |  |  | - |  |  |  | - |
La Malteria |  | Argentina |  | Real estate |  |  | 100,00 | % |  |  | - |  |  |  | - |
Tyrus S.A.'s direct interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DFL y DN BV |  | Bermudas / Netherlands |  | Investment |  |  | 96,46 | % |  |  | 91,57 | % |  |  | 91,57 | %
I Madison LLC |  | USA |  | Investment |  |  | - |  |  |  | - |  |  |  | 100,00 | %
IRSA Development LP |  | USA |  | Investment |  |  | - |  |  |  | - |  |  |  | 100,00 | %
IRSA International LLC |  | USA |  | Investment |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
Jiwin S.A. |  | Uruguay |  | Investment |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
Liveck S.A. (7) |  | Uruguay |  | Investment |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
Real Estate Investment Group IV LP (REIG IV) |  | Bermudas |  | Investment |  |  | - |  |  |  | - |  |  |  | 100,00 | %
Real Estate Investment Group V LP (REIG V) |  | Bermudas |  | Investment |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
Real Estate Strategies LLC |  | USA |  | Investment |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
Efanur S.A.'s direct interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real Estate Investment Group VII LP (REIG VII) |  | Bermudas |  | Investment |  |  | 100,00 | % |  |  | 100,00 | % |  |  | - |
DFL's and DN BV's direct interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
IDB Development Corporation Ltd. |  | Israel |  | Investment |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 68,28 | %
Dolphin IL Investment Ltd. |  | Israel |  | Investment |  |  | 100,00 | % |  |  | 100,00 | % |  |  | - |
DIL's direct interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount Investment Corporation Ltd. (4) |  | Israel |  | Investment |  |  | 83,77 | % |  |  | 76,57 | % |  |  | 77,25 | %
IDBD's direct interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
IDB Tourism (2009) Ltd. |  | Israel |  | Tourism services |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
IDB Group Investment Inc |  | Israel |  | Investment |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
DIC's direct interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property & Building Corporation Ltd. |  | Israel |  | Real estate |  |  | 68,80 | % |  |  | 64,40 | % |  |  | 64,40 | %
Shufersal Ltd.(6) |  | Israel |  | Retail |  |  | - |  |  |  | - |  |  |  | 54,19 | %
Cellcom Israel Ltd. (5) |  | Israel |  | Telecommunications |  |  | 44,10 | % |  |  | 43,14 | % |  |  | 42,26 | %
Elron Electronic Industries Ltd. |  | Israel |  | Investment |  |  | 61,06 | % |  |  | 50,30 | % |  |  | 50,30 | %
Bartan Holdings and Investments Ltd. |  | Israel |  | Investment |  |  | 55,68 | % |  |  | 55,68 | % |  |  | 55,68 | %
Epsilon Investment House Ltd. |  | Israel |  | Investment |  |  | 68,75 | % |  |  | 68,75 | % |  |  | 68,75 | %
PBC's direct interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gav-Yam Bayside Land Corporation Ltd. |  | Israel |  | Real estate |  |  | 51,70 | % |  |  | 51,70 | % |  |  | 55,01 | %
Ispro The Israeli Properties Rental Corporation Ltd. |  | Israel |  | Real estate |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
Matam - Scientific Industries Center Haifa Ltd. |  | Israel |  | Real estate |  |  | 50,10 | % |  |  | 50,10 | % |  |  | 50,10 | %
Hadarim Properties Ltd. |  | Israel |  | Real estate |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
Property & Building (Commercial Centers) Ltd. |  | Israel |  | Real estate |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
PBC USA Investments Inc |  | USA |  | Real estate |  |  | 100,00 | % |  |  | 100,00 | % |  |  | 100,00 | %
| (1) | Includes interest held through E-Commerce Latina S.A. and Tyrus S.A..
| (2) | The Group has consolidated the investment in Llao Llao Resorts S.A. and UT IRSA and Galerías Pacífico considering its equity interest and a shareholder agreement that confers it majority of votes in the decision making process.
| (3) | Includes interest held through Ritelco S.A. and Torodur S.A..
| (4) | Includes Tyrus's equity interest. Until the present financial year, the participation was through Tyrus S.A. and IDBD.
| (5) | DIC considers it exercises effective control over Cellcom because DIC is the group with the higher percentage of votes vis-à-vis other shareholders, with a stake of 46.16%, also taking into account the historic voting performance in the Shareholders' Meetings, as well as the evaluation of the holdings of the remaining shareholders, which are highly atomized.
(6) | Control was lost in June 30, 2018. See Note 4.I.
| Except for the aforementioned items the percentage of votes does not differ from the stake.
Schedule of useful life |
Buildings and facilities | Between 5 and 50 years
Machinery and equipment | Between 3 and 24 years
Communication networks | Between 4 and 20 years
Others | Between 3 and 25 years

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