BUENOS
AIRES, Argentina, Sept. 3,
2024 /PRNewswire/ -- IRSA Inversiones y
Representaciones S.A. (NYSE: IRS; BYMA: IRSA), the leading real
estate company in Argentina,
announces today its results for the Fiscal Year 2024 ended
June 30, 2024.
HIGHLIGHTS
- The rental adjusted EBITDA reached ARS 171,772 million,
8.8% higher than in 2023, driven by the Shopping Centers and Hotels
segments.
- The net result for fiscal year 2024 recorded a loss of ARS
23,054 million due mainly to the negative result due to changes in
the fair value of investment properties.
- Real tenant sales in Shopping Centers fell 4.5% in fiscal year
2024 compared to 2023 due to a first semester of growth and a
second semester of contraction in economic activity. Occupancy
remained high at 97.4%.
- During the year we sold 3 floors of the "200
Della Paolera" building, the Suipacha 652/64 building, our 50%
stake in Quality Invest S.A, owner of the San Martín property, and
we bartered the Ezpeleta property in the district of Quilmes,
Buenos Aires province. On the
other hand, we signed a management trust contract at cost for the
residential development of the "Del Plata" building, located in the
heart of downtown Buenos
Aires.
- Subsequently, we acquired a property next to
Alto Avellaneda shopping mall, with a built area of 32,660 sqm
and potential for future expansion, and we launched an ambitious
plan to develop residential projects in Argentina, among which Ramblas del Plata in
Puerto Madero Sur stands out,
formerly known as Costa Urbana.
- We distributed dividends twice during the fiscal year for a
total amount of ARS 119,000 million and repurchased our own
shares to date for approximately 4.0% of the share capital, having
invested ARS 29,674 million.
Financial Highlights
(In millions of
Argentine Pesos)
FY 2024
|
Income
Statement
|
06/30/2024
|
06/30/2023
|
|
Revenues
|
328,546
|
331,721
|
|
Consolidated Gross
Profit
|
219,305
|
217,276
|
|
Net result from changes
in the fair value of investment properties
|
(350,591)
|
(182,590)
|
|
Consolidated Result
from Operations
|
(190,695)
|
(97,115)
|
|
Result for the
Period
|
(23,054)
|
215,837
|
|
|
|
|
Attributable
to:
|
|
|
|
IRSA's
Shareholders
|
(18,377)
|
213,076
|
|
Non-Controlling
interest
|
(4,677)
|
2,761
|
|
|
|
|
EPS (Basic)
|
(24.77)
|
284.86
|
|
EPS
(Diluted)
|
(24.77)
|
259.85
|
|
|
|
|
Balance
Sheet
|
06/30/2024
|
06/30/2023
|
|
Current
Assets
|
227,724
|
260,910
|
|
Non-Current
Assets
|
2,014,041
|
2,382,939
|
|
Total
Assets
|
2,241,765
|
2,643,849
|
|
Current
Liabilities
|
274,913
|
281,329
|
|
Non-Current
Liabilities
|
814,415
|
934,425
|
|
Total
Liabilities
|
1,089,328
|
1,215,754
|
|
Non-Controlling
Interest
|
73,792
|
82,965
|
|
Shareholders'
Equity
|
1,152,437
|
1,428,095
|
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 FY 2024 Results Conference Call
on Wednesday, September 4, 2024, at
10:00 AM US Eastern Time /
11:00 AM BA Time.
To access the Webinar:
https://zoom.us/webinar/register/WN_1H8Dd4q8Q0GGeefCRCREOw
Webinar ID: 997 6476 0393
Password: 743016
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
US: +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 X @irsair
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SOURCE IRSA Inversiones y Representaciones S.A.
