In This Article:
BUENOS AIRES, Argentina, May 7, 2024 /PRNewswire/ --
HIGHLIGHTS
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The net result for the nine-month period of fiscal year 2024 recorded a loss of ARS 111,728 million compared to a gain of ARS 123,217 million in the same period of the previous year, mainly explained by the impact of inflation exposure on the fair value of investment properties.
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The rental adjusted EBITDA reached ARS 112,911 million in the nine months of fiscal year 2024, 9.1% higher than the same period of the previous year, ARS 86,475 million coming from the Shopping Malls segment, ARS 8,776 million from the office segment and ARS 17,660 million from the Hotels. Total adjusted EBITDA reached ARS 128,826 million, increasing 6.3% compared to the same period of the previous year.
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Real tenant sales in shopping malls fell 18.5% in the third quarter of fiscal year 2024 as a result of the acceleration of inflation and a drop in consumption. In the accumulated nine-month period of the year, sales grew by 0.9% compared to the same period in 2023.
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We maintained high occupancy rates in the three rental segments: 97.9% in shopping centers, 92.8% in our premium offices and 68.7% in the hotel portfolio.
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During the quarter and subsequently, we repurchased approximately 1.7% of the stock capital and in May 2024, we approved a new cash dividend for ARS 55,000 million (ARS/share 76.1457 and ARS/GDS 761.4575), which will be distributed since May 9.
| Financial Highlights | ||
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| Income Statement | 03/31/2024 | 03/31/2023 |
| Revenues | 213,565 | 208,970 |
| Consolidated Gross Profit | 144,424 | 137,387 |
| Net result from changes in the fair value of investment properties | (385,848) | (135,403) |
| Consolidated Profit / (Loss) from Operations | (275,902) | (56,661) |
| Result for the Period | (111,728) | 123,217 |
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| Attributable to: | | |
| IRSA's Shareholders | (104,926) | 119,339 |
| Non-Controlling interest | (6,802) | 3,878 |
| | | |
| EPS (Basic) | (140.84) | 159.33 |
| EPS (Diluted) | (140.84) | 145.89 |
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| Balance Sheet | 03/31/2024 | 06/30/2023 |
| Current Assets | 213,194 | 220,054 |
| Non-Current Assets | 1,606,100 | 2,009,794 |
| Total Assets | 1,819,294 | 2,229,848 |
| Current Liabilities | 256,486 | 237,277 |
| Non-Current Liabilities | 630,651 | 788,102 |
| Total Liabilities | 887,137 | 1,025,379 |
| Non-Controlling Interest | 59,637 | 69,973 |
| Shareholders' Equity | 932,157 | 1,204,469 |
The Company's market capitalization as of March 31, 2024, was approximately USD 692 million. (73,890,228 GDS with a price per GDS of USD 9.36).
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 IIIQ FY 2024 Results Conference Call on Wednesday, May 8, 2024, at 10:00 AM US Eastern Time / 11:00 AM BA Time.