IRSA Inversiones y Representaciones S.A announces its results for the second quarter of Fiscal Year 2024 ended December 31, 2023
BUENOS AIRES, Argentina, Feb. 5, 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 second quarter of the Fiscal Year 2024 ended December 31, 2023.
HIGHLIGHTS
- The net result for the second quarter of fiscal year 2024 recorded a gain of ARS 146,593 million compared to ARS 48,072 million in the same period of the previous year, mainly explained by the gain recorded from changes in the fair value of investment properties.
- Rental adjusted EBITDA reached ARS 54,102 million, 12.3% higher than the first half of 2023, driven by the shopping malls and hotels segments. Total adjusted EBITDA reached ARS 66,940 million, increasing 54.6% compared to the same period of the previous year, mainly explained by higher sales of investment properties.
- Malls' tenant real sales grew by 8.9% in the first half of fiscal year 2024 compared to 2023 and occupancy stood at levels of 98%.
- Regarding the premium office segment, we reached 92.8% occupancy this quarter and sold 2 additional floors of the "200 Della Paolera" building, in Catalinas.
- In January 2024, the process of distributing the cash dividend and treasury shares in the portfolio, approved by the Shareholders' Meeting on October 5, 2023, to GDS holders, which was pending, was concluded.
Financial Highlights
(In millions of Argentine Pesos)
6M FY 2024
Income Statement | 12/31/2023 | 12/31/2022 |
Revenues | 101,457 | 96,193 |
Consolidated Gross Profit | 68,701 | 63,561 |
Net result from changes in the fair value of investment properties | 137,822 | (91,958) |
Consolidated Profit / (Loss) from Operations | 193,279 | (54,253) |
Result for the Period | 146,593 | 48,072 |
Attributable to: | ||
IRSA's Shareholders | 141,519 | 46,992 |
Non-Controlling interest | 5,074 | 1,080 |
EPS (Basic) | 189.45 | 62.66 |
EPS (Diluted) | 189.70 | 63.93 |
Balance Sheet | 12/31/2023 | 06/30/2023 |
Current Assets | 184,846 | 145,134 |
Non-Current Assets | 1,466,348 | 1,325,529 |
Total Assets | 1,651,194 | 1,470,663 |
Current Liabilities | 164,687 | 156,491 |
Non-Current Liabilities | 648,785 | 519,781 |
Total Liabilities | 813,472 | 676,272 |
Non-Controlling Interest | 49,267 | 46,151 |
Shareholders' Equity | 837,722 | 794,391 |
The Company's market capitalization as of December 31, 2023, was approximately USD 634 million. (73,682,282 GDS with a price per GDS of USD 8.60).
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 IIQ FY 2024 Results Conference Call on Tuesday, February 6, 2024, at 08:00 AM US Eastern Time / 10:00 AM BA Time.
To access the Webinar:
https://zoom.us/webinar/register/WN_DnKMMO0dQLi-UXi1-LFJDA
Webinar ID: 996 3178 5799
Password: 065321
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.
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SOURCE IRSA Inversiones y Representaciones S.A.