58.2 F
Las Vegas
HomeInvestmentsIRSA announces the results for the FY 2023, ended June 30, 2023

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
(In millions of Argentine Pesos)
FY 2023 


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.
+ 5411 4323-7449
[email protected]
https://www.irsa.com.ar/home-inversores.php?lng=en
Follow us on X  @irsair

SOURCE IRSA Inversiones y Representaciones S.A.

Originally published at https://www.prnewswire.com/news-releases/irsa-announces-the-results-for-the-fy-2023-ended-june-30-2023-301919754.html
Images courtesy of https://pixabay.com

- Part of VUGA -marketing agency

latest articles

gossip tv free

explore more

free fashion tv