IRSA announces the results for the FY 2023, ended June 30, 2023
BUENOS AIRES, Argentina, Sept. 6, 2023 /PRNewswire/ -- IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA: IRSA), the leading real estate company in Argentina, announces today its results for the Fiscal Year 2023 ended June 30, 2023.
HIGHLIGHTS
- The net result for fiscal year 2023 recorded a profit of ARS 58,094 million, 22.8% lower than fiscal year 2022.
- Rental adjusted EBITDA reached ARS 42,500 million, 24.9% higher than fiscal year 2022, driven by the Shopping Centers and Hotels segments. Total adjusted EBITDA reached ARS 36,000 million compared to ARS 59,126 million in 2022.
- Mall tenant sales grew by 16.0% in fiscal year 2023 compared to fiscal year 2022 and occupancy grew significantly, reaching 97.4%.
- During the fiscal year and subsequently, we sold 9 floors of the "200 Della Paolera" building, the Suipacha 652/64 building and our 50% interest in Quality Invest S.A., owner of the San Martín property, for the total amount of USD 163.7 million.
- We concluded our debt refinancing process this year, including the exchange of the Series II Notes for USD 360 million, reducing net debt by 67% since 2020.
- We distributed dividends twice this fiscal year for a total amount of USD 124.1 million and repurchased our own shares for approximately 1.7% of the capital stock.
- On September 5, 2023, the Board of Directors called a Shareholders' Meeting in order to distribute a dividend for the sum up to ARS 64,000 million, among other points to be discussed.
Financial Highlights | ||
Income Statement | 06/30/2023 | 06/30/2022 |
Revenues | 89,285 | 69,168 |
Consolidated Gross Profit | 58,481 | 43,049 |
Net result from changes in the fair value of investment properties | (49,145) | 29,427 |
Consolidated Profit / (Loss) from Operations | (26,139) | 56,408 |
Result for the Period | 58,094 | 75,222 |
Attributable to: | ||
IRSA's Shareholders | 57,351 | 74,487 |
Non-Controlling interest | 743 | 735 |
EPS (Basic) | 72.70 | 92.12 |
EPS (Diluted) | 66.26 | 83.61 |
Balance Sheet | 06/30/2023 | 06/30/2022 |
Current Assets | 70,226 | 91,446 |
Non-Current Assets | 641,386 | 712,221 |
Total Assets | 711,612 | 803,667 |
Current Liabilities | 75,722 | 186,322 |
Non-Current Liabilities | 251,507 | 251,445 |
Total Liabilities | 327,229 | 437,767 |
Non-Controlling Interest | 22,330 | 23,443 |
Shareholders' Equity | 384,383 | 365,900 |
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 FY 2023 Results Conference Call on Thursday, September 7, 2023, at 11:00 AM US Eastern Time / 12:00 PM BA Time.
To access the Webinar:
https://irsacorp.zoom.us/webinar/register/WN_dnCnL7owSu6gh_2RVif4WQ
Webinar ID: 812 2133 5009
Password: 749448
In addition, you can participate communicating to this numbers:
Argentina: +54 343 414 5986 or +54 112 040 0447 or +54 115 983 6950 or +54 341 512 2188
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
US: +1 309 205 3325 or +1 312 626 6799 or +1 346 248 7799 or +1 360 209 5623 or +1 386 347 5053 or +1 507 473 4847 or +1 564 217 2000 or +1 646 558 8656 or +1 646 931 3860 or +1 669 444 9171 or +1 669 900 9128 or +1 689 278 1000 or +1 719 359 4580 or +1 253 205 0468 or +1 253 215 8782 or +1 301 715 8592 or +1 305 224 1968
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.
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SOURCE IRSA Inversiones y Representaciones S.A.
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