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IRSA Inversiones y Representaciones S.A. (NYSE: IRS) is the leading real estate development firm in Argentina, known for its diversified business operations. The company operates across several key segments, including Shopping Malls, Offices, Sales and Developments, and Hotels. Among these, the Shopping Malls segment is the primary revenue generator, deriving income from leasing commercial spaces and providing related services in their shopping malls.
IRSA manages an extensive portfolio of shopping centers and office buildings, mostly situated in Buenos Aires. The company also owns three luxury hotels, adding to its expansive real estate footprint. Furthermore, IRSA holds a stake in Banco Hipotecario, Argentina's largest mortgage supplier, thus diversifying its investment portfolio.
Recently, IRSA announced its fiscal year 2023 results for the period ending June 30, 2023. The company's market capitalization as of September 30, 2023, was approximately USD 475 million. For fiscal year 2024's first quarter ending September 30, 2023, IRSA reported significant performance metrics, underscoring its stability and growth.
IRSA is the only real estate company in Argentina listed on both the BYMA and the New York Stock Exchange, which underlines its prominence in the industry. The company is actively engaged in numerous ongoing projects and continues to expand its market presence through strategic developments and partnerships. These activities contribute significantly to its robust financial condition and position in the market.
IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA: IRSA) announced its results for Fiscal Year 2024, ended June 30, 2024. Key highlights include:
- Rental adjusted EBITDA reached ARS 171,772 million, up 8.8% from 2023
- Net loss of ARS 23,054 million, mainly due to negative changes in fair value of investment properties
- Shopping Centers' real tenant sales fell 4.5% compared to 2023
- High occupancy rate maintained at 97.4%
- Several property transactions completed, including sales and acquisitions
- Dividends distributed twice, totaling ARS 119,000 million
- Share repurchases of approximately 4.0% of share capital, investing ARS 29,674 million
The company's financial performance showed mixed results, with increased EBITDA but a significant net loss. IRSA continues to actively manage its real estate portfolio and return value to shareholders through dividends and share buybacks.
IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA: IRSA) reported a loss of ARS 111,728 million for the nine-month period of fiscal year 2024, influenced by inflation exposure on investment properties. However, the rental adjusted EBITDA increased by 9.1%, reaching ARS 112,911 million. Real tenant sales in shopping malls dropped by 18.5% due to inflation acceleration. The company maintained high occupancy rates across its rental segments. IRSA approved a cash dividend of ARS 55,000 million.
IRSA Inversiones y Representaciones S.A. (NYSE: IRS), a leading real estate firm in Argentina, reported its financial results for the second quarter of FY 2023 ending December 31, 2022. The company recorded a net profit of ARS 15,436 million, down from ARS 49,712 million in the prior year. Rental adjusted EBITDA rose 47.5% to ARS 15,471 million, driven by strong performance in shopping malls and hotels. Tenant sales in malls increased by 22.2%. The occupancy rates for shopping malls, office portfolios, and hotels improved to 93.9%, 83.8%, and 71.4%, respectively. Despite these gains, a fair value adjustment resulted in a loss of ARS 29,530 million, raising concerns about asset valuations.
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