IRSA Inversiones y Representaciones S.A announces its results for the first quarter of Fiscal Year 2024 ended September 30, 2023

IRSA Inversiones y Representaciones S.A announces its results for the first quarter of Fiscal Year 2024 ended September 30, 2023

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
[email protected]

https://www.irsa.com.ar/home-inversores.php?lng=en

Follow us on Twitter @irsair

SOURCE IRSA Inversiones y Representaciones S.A.

Originally published at https://www.prnewswire.com/news-releases/irsa-inversiones-y-representaciones-sa-announces-its-results-for-the-first-quarter-of-fiscal-year-2024-ended-september-30-2023-301980140.html
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