BUENOS AIRES, Argentina, May 11, 2022 - IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA: IRSA), leading real estate company in Argentina, announces today its results for the third quarter of Fiscal Year 2022 ended March 31, 2022.
BUENOS AIRES, Argentina, May 11, 2022 /PRNewswire/ --
HIGHLIGHTS
- In December 2021, the Shareholders' Meetings of IRSA and IRSA PC approved the merger by absorption between the companies, in which IRSA absorbs IRSA PC. The merger has an effective date of July 1, 2021, and the exchange of IRSA PC shares for IRSA shares will take place in the coming days.
- The net result for the nine-month period of fiscal year 2022 registered a profit of ARS 11,502 million compared to a loss of ARS 22,821 million in the previous fiscal year.
- Adjusted EBITDA reached ARS 12,927 million in the 9-month period of fiscal year 2022, 28.2% lower than the same period of 2021 due to lower sales of investment properties and 13.4% higher than the one registered in the same period of 2020. Rental adjusted EBITDA reached ARS 10,060 million (ARS 7,778 million for shopping malls, ARS 1,540 million for offices and ARS 742 million for hotels).
- Tenant sales in shopping malls grew in real terms during the third quarter of 2022 by 21.2% compared to the same quarter of 2019, not affected by the pandemic. Portfolio occupancy grew to 91.5%.
- During the quarter we sold 5 floors of the "261 Della Paolera" building with an area of 5,920 m2 for an approximate amount of USD 52 million and subsequently, we sold 100% of the República building in block with an area of 19,885 sqm for an approximate amount of USD 131.8 million.
- In March 2022, we launched a share repurchase plan for up to ARS 1,000 million. To date, the company has repurchased approximately 7.3% of the program.
Financial Highlights
(In millions of Argentine Pesos)
9M FY 2022
Income Statement | 03/31/2022 | 03/31/2021 |
Revenues | 19,461 | 14,234 |
Gross Profit | 12,002 | 7,319 |
Net result from changes in the fair value of investment properties | (11,095) | (10,635) |
Loss from Operations | (3,427) | (8,405) |
Result for the Period | 11,502 | (22,821) |
Attributable to: | ||
IRSA's Shareholders | 12,470 | (17,818) |
Non-Controlling interest | (968) | (5,003) |
EPS (Basic) | 15.42 | (30.91) |
EPS (Diluted) | 14.00 | (30.91) |
Balance Sheet | 03/31/2022 | 06/30/2021 |
Current Assets | 24,399 | 19,464 |
Non-Current Assets | 267,164 | 291,975 |
Total Assets | 291,563 | 311,439 |
Current Liabilities | 25,026 | 30,949 |
Non-Current Liabilities | 140,254 | 164,846 |
Total Liabilities | 165,280 | 195,795 |
Non-Controlling Interest | 8,394 | 29,206 |
Shareholders' Equity | 126,283 | 115,644 |
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 2022 Results Conference Call on Friday, May 13, 2022, at 10:00 AM US Eastern Time / 11:00 AM BA Time.
To participate, please access through the following link:
https://irsacorp.zoom.us/j/87861031276?pwd=bnRBWWEwKzFLTHJmMys3SGJISFEzQT09
Webinar ID: 878 6103 1276
Password: 211602
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 55 330 1762
Brazil: +55 11 4700 9668 or +55 21 3958 7888 or +55 11 4632 2236 or +55 11 4632 2237 or +55 11 4680 6788
United States of America: +1 312 626 6799 or +1 346 248 7799 or +1 646 558 8656 or +1 669 900 9128 or +1 253 215 8782 or +1 301 715 8592
Chile: +56 232 938 848 or +56 41 256 0288 or +56 22 573 9304 or +56 22 573 9305 or +56 23 210 9066
Investor Relations Department.
+ 5411 4323-7449
[email protected]
https://www.irsa.com.ar/home-inversores.php?lng=en
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SOURCE IRSA Inversiones y Representaciones S.A.
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