In This Article:
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Adjusted EBITDA: ARS 46.9 billion, 8.8% decrease from the previous quarter.
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Net Income: Loss of ARS 109 billion, mainly due to non-cash effects related to investment property valuations.
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Tenant Sales: 7% recovery from the previous quarter, but 12% below the same period last year.
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Office Occupancy: 98% occupancy rate.
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Shopping Mall Occupancy: 97% occupancy rate.
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Dividend Payment: ARS 90 billion, approximately 8% dividend yield.
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Hotel Segment: Occupancy decreased from 66% to 55%.
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Debt Issuance: New debt issued with a five-year tranche at 7.25% interest and a three-year tranche at 5.75% interest.
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Net Debt: $297 million, with a net debt to rental EBITDA ratio of 1.8 times.
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Dividend Payments (Last Three Years): Approximately $250 million.
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Share Repurchase Program: Completed in September, acquiring 1.6% of shares at an average price of $9.94 per ADR.
Release Date: November 07, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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IRSA Inversiones y Representaciones SA achieved an adjusted EBITDA of ARS 46.9 billion, indicating strong operational performance despite a slight decrease from the previous quarter.
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The company reported high occupancy rates in its shopping malls and office spaces, with shopping malls at 97% and offices at 98%, showcasing effective property management.
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IRSA Inversiones y Representaciones SA successfully acquired a plot of land adjoining the Alto Avellaneda shopping mall, positioning itself for future expansion.
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The company announced and paid dividends amounting to ARS 90 billion, reflecting a robust dividend yield of approximately 8%.
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IRSA Inversiones y Representaciones SA maintains a conservative financial structure with a net debt to rental EBITDA ratio of 1.8 times, indicating strong financial health and stability.
Negative Points
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The company posted a net loss of ARS 109 billion, primarily due to non-cash effects related to the valuation of investment properties.
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Tenant sales showed only a slight recovery, remaining 12% below the numbers from the previous year, indicating challenges in retail performance.
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The hotel segment faced challenges with a decrease in occupancy from 66% to 55% and a drop in rates, impacting overall revenue from this segment.
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IRSA Inversiones y Representaciones SA experienced a 10% decrease in adjusted EBITDA compared to the previous year, with significant drops in the hotel segment.
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The appreciation of the Argentine peso led to valuation losses in investment properties when converted to peso terms, affecting the company's financial results.