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IRSA Inversiones y Representaciones S.A announces its results for the second quarter of Fiscal Year 2024 ended December 31, 2023

IRSA Inversiones y Representaciones S.A announces its results for the second quarter of Fiscal Year 2024 ended December 31, 2023

IRSA Inversiones y Representaciones S.A announces its results for the second quarter of Fiscal Year 2024 ended December 31, 2023

PR Newswire

BUENOS AIRES, Argentina, Feb. 5, 2024

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.

+ 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.

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