IRSA Inversiones y Representaciones S.A announces its results for the second quarter of Fiscal Year 2025 ended December 31, 2024

BUENOS AIRES, Argentina, Feb. 7, 2025 /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 2025 ended December 31, 2024.

HIGHLIGHTS

• The net result for the first semester of fiscal year 2025 recorded a loss of ARS 40,971 million compared to a gain of ARS 319,226 million in the same period of the previous year, mainly due to the loss recorded from changes in the fair value of investment properties. This is an accounting effect that does not imply cash movements.
  
  
  
  
• Real tenant sales in shopping malls continue to recover on a quarterly basis. They increased by 21.4% compared to the previous quarter but declined by 8.5% compared to the same period of fiscal year 2024. The segment's adjusted EBITDA for the semester reached ARS 94,539 million, just 2,0% below the same period of the previous year.
  
  
  
  
• During the quarter, we acquired a new shopping mall "Terrazas de Mayo", located in Malvinas Argentinas in the northwest of Greater Buenos Aires for a total amount of USD 27.75 million. The mall has a leasable area of 33,700 sqm and 86 stores.
  
  
  
  
• During the second quarter we reached 100% occupancy of our premium office portfolio and sold an additional floor of the Della Paolera 261 building for USD 7.1 million.
  
  
  
  
• The Hotels segment recorded lower revenues and occupancy in the first half of fiscal year 2025 compared to 2024, in a context of greater appreciation of the Argentine peso against the U.S. dollar.
  
  
  
  
• Subsequently, we signed sale agreements for two lots of the Ramblas del Plata project with an estimated saleable area of 40,000 sqm to a local developer for the sum of USD 23.4 million.

Financial Highlights

(In millions of Argentine Pesos)

6M FY 2025

The Company's market capitalization as of December 31, 2024, was approximately USD 1,117 million. (74,829,790 GDS with a price per GDS of USD 14.93).

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 2025 Results Conference Call on Friday, February 7, 2025, at 8:00 AM US Eastern Time / 10:00 AM BA Time.

To access the Webinar:

https://zoom.us/webinar/register/WN_FZj3vQ3iRfCuqO4iByJq-Q

Webinar ID: 950 1110 7642

Password: 965224

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 

[email protected]

IRSA

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SOURCE IRSA Inversiones y Representaciones S.A.