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.
HIGHLIGHTS
- In
December 2021 , the Shareholders' Meetings ofIRSA and IRSA PC approved the merger by absorption between the companies, in which IRSA absorbs IRSA PC. The merger has an effective date ofJuly 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 ofARS 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 reachedARS 10,060 million (ARS 7,778 million for shopping malls,ARS 1,540 million for offices andARS 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 ofUSD 52 million and subsequently, we sold 100% of the República building in block with an area of 19,885 sqm for an approximate amount ofUSD 131.8 million . - In
March 2022 , we launched a share repurchase plan for up toARS 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 |
|
|
|
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 |
|
|
|
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 |
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:
Investor Relations Department.
+ 5411 4323-7449
ir@irsa.com.ar
https://www.irsa.com.ar/home-inversores.php?lng=en
Follow us on Twitter @irsair
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