Irsa Inversion Stock Price, News & Analysis

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.

IRSA Inversiones y Representaciones (NYSE: IRS) reported a net gain of ARS 1,297 million for Q1 FY 2023, a substantial turnaround from a loss of ARS 1,855 million in the previous year. The company's rental adjusted EBITDA rose to ARS 5,796 million, with total adjusted EBITDA increasing by 93.9% to ARS 6,696 million. Real tenant sales in shopping malls grew by 21.9% compared to Q1 2020. The hotel segment saw a remarkable 357.6% EBITDA increase. The company also completed a share repurchase plan, buying back 1.16% of its capital stock for ARS 995 million.

IRSA Inversiones y Representaciones S.A. (NYSE: IRS) has filed its 20-F Form for Fiscal Year 2022, ending June 30, 2022, with the SEC. This filing highlights the company's position as Argentina's largest real estate firm, managing a diverse portfolio including shopping centers, office buildings, and luxury hotels. Shareholders can access the audited financial statements free of charge upon request. For more details, the full 20-F document is available here.

IRSA Inversiones y Representaciones S.A. (NYSE: IRS) reported strong performance for fiscal year 2022, concluding with a net gain of ARS 34,892 million, reversing a loss of ARS 61,641 million in 2021. Adjusted EBITDA rose to ARS 27,427 million, marking a 49% increase compared to 2019. Tenant sales in malls increased by 9.5% from 2019, with portfolio occupancy at 93.1%. Notably, IRSA completed significant real estate transactions, selling two major properties for a total of USD 225 million. Shareholders' equity improved to ARS 169,727 million.

IRSA Inversiones y Representaciones (NYSE: IRS) has extended the expiration date of its Exchange Offer for the outstanding $360 million 8.750% Notes due 2023 from June 16, 2022, to June 28, 2022. As of June 16, 2022, 58.42% of the Existing Notes have been tendered. Eligible Holders will receive $532.96 per $1,000 of Existing Notes tendered under Option A. The new notes will be issued on July 1, 2022, with potential tax implications for certain holders. Participants should review the Exchange Offer Memorandum for full details.

IRSA Inversiones y Representaciones S.A. (NYSE: IRS) reported notable financial results for the nine-month period of fiscal year 2022. The company achieved a profit of ARS 11,502 million, a significant improvement compared to a loss of ARS 22,821 million in the previous year. However, adjusted EBITDA decreased by 28.2% year-over-year to ARS 12,927 million. Tenant sales in shopping malls rose by 21.2% compared to 2019, with portfolio occupancy at 91.5%. The company initiated a share repurchase plan and reported a basic EPS of 15.42.