BUENOS
AIRES, Argentina, Nov. 7, 2023
/PRNewswire/ -- IRSA Inversiones y Representaciones S.A. (NYSE:
IRS; BYMA: IRSA), the leading real estate company in Argentina, announces today its results for
first quarter of the Fiscal Year 2024 ended September 30, 2023.
HIGHLIGHTS
- The net result for the first quarter of fiscal year 2024
recorded a gain of ARS 81,080 million
compared to ARS 3,089 million in the
same period of the previous year, mainly explained by the gain
recorded from changes in the fair value of investment
properties.
- The adjusted EBITDA of the rental segments reached ARS 16,713 million, 21% higher than the first
quarter of 2023, driven by the Shopping Malls and Hotels segments.
Total adjusted EBITDA reached ARS 17,030
million compared to ARS 15,958
million in the same period of the previous year.
- Malls' real tenant sales grew by 10.1% in the first quarter of
fiscal year 2024 compared to 2023 and occupancy grew to 98%.
- During the quarter and subsequently, we sold 3 floors of the
"200 Della Paolera" building, the
Suipacha 652/64 building and our 50% stake in Quality Invest S.A,
owner of the San Martín property.
- On October 5, 2023, the
Shareholders' Meeting allowed the distribution of a cash dividend
of ARS 64,000 million (dividend yield
12%) and own treasury shares, representing approximately 1.7% of
the share capital.
Financial
Highlights
|
(In millions of
Argentine Pesos)
|
3M FY 2024
|
|
Income
Statement
|
09/30/2023
|
09/30/2022
|
Revenues
|
30,725
|
27,803
|
Consolidated Gross
Profit
|
20,727
|
17,642
|
Net result from changes
in the fair value of investment properties
|
102,292
|
(15,797)
|
Consolidated Profit /
(Loss) from Operations
|
121,405
|
(2,520)
|
Result for the
Period
|
81,080
|
3,089
|
|
|
|
Attributable
to:
|
|
|
IRSA's
Shareholders
|
77,042
|
2,768
|
Non-Controlling
interest
|
4,038
|
321
|
|
|
|
EPS (Basic)
|
104.82
|
3.74
|
EPS
(Diluted)
|
103.27
|
3.83
|
|
|
|
Balance
Sheet
|
09/30/2023
|
09/30/2022
|
Current
Assets
|
103,354
|
94,680
|
Non-Current
Assets
|
958,009
|
864,725
|
Total
Assets
|
1,061,363
|
959,405
|
Current
Liabilities
|
88,987
|
102,090
|
Non-Current
Liabilities
|
376,619
|
339,084
|
Total
Liabilities
|
465,606
|
441,174
|
Non-Controlling
Interest
|
32,647
|
30,107
|
Shareholders'
Equity
|
595,757
|
518,231
|
The Company's market capitalization as of September 30, 2023, was approximately
USD 475 million. (73,642,130 GDS with
a price per GDS of USD 6.46).
IRSA Inversiones y Representaciones S.A. (NYSE: IRS,
BYMA: IRSA), the Argentina's
largest, most well-diversified real estate company, cordially
invites you to participate in its IQ FY 2024 Results Conference
Call on Tuesday, November 7, 2023, at
10:00 AM US Eastern Time /
12:00 PM BA Time.
To access the
Webinar:
https://zoom.us/j/93717065884?pwd=VEdYcWF4dDBvalRkaUVGQmpmTHVudz09
Webinar ID: 937 1706 5884
Password: 455400
In addition, you can participate communicating to this
numbers:
Argentina:
+54 112 040 0447 or +54 115 983 6950 or +54 341 512 2188 or +54 343
414 5986
Israel: +972 3
978 6688 or +972 2 376 4509 or +972 2 376 4510
Brazil: +55 11 4632 2237 or +55 11
4680 6788 or +55 11 4700 9668 or +55 21 3958 7888 or +55 11 4632
2236
United States of America: +1 564
217 2000 or +1 646 931 3860 or +1 669 444 9171 or +1 669 900 6833
or +1 689 278 1000
Chile: +56 22 573 9305 or +56 23 210 9066 or +56 232 938 848
or +56 41 256 0288 or +56 22 573 9304
Investor Relations Department.
+ 5411 4323-7449
ir@irsa.com.ar
https://www.irsa.com.ar/home-inversores.php?lng=en
Follow us on Twitter @irsair
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SOURCE IRSA Inversiones y Representaciones S.A.