IRSA Inversiones y Representaciones S.A. announces its results for Fiscal Year 2024, ended June 30, 2024
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) ha annunciato i risultati per l'esercizio fiscale 2024, conclusosi il 30 Giugno 2024. I punti salienti includono:
- L'EBITDA ajustato da affitto ha raggiunto ARS 171.772 milioni, con un aumento dell'8.8% rispetto al 2023
- Perdita netta di ARS 23.054 milioni, principalmente a causa di cambiamenti negativi nel valore equo delle proprietà immobiliari
- Le vendite reali degli inquilini nei Centri Commerciali sono diminuite del 4.5% rispetto al 2023
- Alta percentuale di occupazione mantenuta al 97.4%
- Diverse transazioni immobiliari completate, inclusi vendite e acquisti
- Dividendi distribuiti due volte, per un totale di ARS 119.000 milioni
- Riacquisto di azioni per circa il 4.0% del capitale sociale, investendo ARS 29.674 milioni
Le performance finanziarie dell'azienda hanno mostrato risultati misti, con un EBITDA in aumento ma una significativa perdita netta. IRSA continua a gestire attivamente il suo portafoglio immobiliare e a restituire valore agli azionisti attraverso dividendi e riacquisti di azioni.
IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA: IRSA) anunció sus resultados para el año fiscal 2024, que finalizó el 30 de junio de 2024. Los puntos destacados incluyen:
- El EBITDA ajustado por alquiler alcanzó ARS 171,772 millones, un aumento del 8.8% en comparación con 2023
- Pérdida neta de ARS 23,054 millones, principalmente debido a cambios negativos en el valor razonable de las propiedades de inversión
- Las ventas reales de inquilinos en los Centros Comerciales cayeron un 4.5% en comparación con 2023
- Alta tasa de ocupación mantenida en 97.4%
- Se completaron varias transacciones de propiedades, incluidas ventas y adquisiciones
- Dividendos distribuidos en dos ocasiones, totalizando ARS 119,000 millones
- Recompras de acciones de aproximadamente el 4.0% del capital social, invirtiendo ARS 29,674 millones
El desempeño financiero de la empresa mostró resultados mixtos, con un EBITDA en aumento pero una pérdida neta significativa. IRSA continúa gestionando activamente su cartera inmobiliaria y devolviendo valor a los accionistas a través de dividendos y recompras de acciones.
IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA: IRSA)는 2024 회계연도 결과를 발표했습니다. 이 회계연도는 2024년 6월 30일에 종료되었습니다. 주요 내용은 다음과 같습니다:
- 임대 조정 EBITDA는 ARS 171,772백만에 도달했으며, 이는 2023년 대비 8.8% 증가한 수치입니다.
- 투자 자산의 공정 가치 변동으로 인한 ARS 23,054백만의 순손실 발생
- 쇼핑 센터의 실제 임차인 매출이 2023년에 비해 4.5% 감소
- 높은 점유율(97.4%) 유지
- 여러 부동산 거래 완료(판매 및 인수 포함)
- 총 ARS 119,000백만 규모의 배당금 두 차례 분배
- 자본의 약 4.0%에 해당하는 자기주식 매입으로 ARS 29,674백만 투자
회사의 재무 실적은 혼합된 결과를 보였으며, EBITDA는 증가했지만 상당한 순손실이 발생했습니다. IRSA는 적극적으로 부동산 포트폴리오를 관리하고 배당금 및 자사주 매입을 통해 주주에게 가치를 반환하고 있습니다.
IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA: IRSA) a annoncé ses résultats pour l'exercice fiscal 2024, qui s'est terminé le 30 juin 2024. Les faits marquants incluent :
- L'EBITDA ajusté des loyers a atteint 171,772 millions ARS, en hausse de 8,8% par rapport à 2023
- Perte nette de 23,054 millions ARS, principalement en raison de changements négatifs dans la juste valeur des biens immobiliers d'investissement
- Les ventes réelles des locataires dans les centres commerciaux ont chuté de 4,5% par rapport à 2023
- Taux d'occupation élevé maintenu à 97,4%
- Plusieurs transactions immobilières ont été conclues, y compris des ventes et des acquisitions
- Dividendes répartis deux fois, totalisant 119,000 millions ARS
- Rachats d'actions représentant environ 4,0% du capital social, avec un investissement de 29,674 millions ARS
La performance financière de l'entreprise a montré des résultats mitigés, avec un EBITDA en hausse mais une perte nette significative. IRSA continue de gérer activement son portefeuille immobilier et de rendre de la valeur aux actionnaires par le biais de dividendes et de rachats d'actions.
IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA: IRSA) hat die Ergebnisse für das Geschäftsjahr 2024 bekannt gegeben, das am 30. Juni 2024 endete. Die wichtigsten Punkte sind:
- Der bereinigte EBITDA aus Miete erreichte ARS 171.772 Millionen, was einem Anstieg von 8,8% gegenüber 2023 entspricht
- Nettoverlust von ARS 23.054 Millionen, hauptsächlich aufgrund negativer Veränderungen des beizulegenden Zeitwerts von Investitionsimmobilien
- Die tatsächlichen Verkaufszahlen der Mieter in den Einkaufszentren fielen um 4,5% im Vergleich zu 2023
- Hohe Belegungsrate von 97,4% beibehalten
- Mehrere Immobiliengeschäfte abgeschlossen, einschließlich Verkäufen und Akquisitionen
- Dividenden in zwei Tranchen ausgezahlt, insgesamt ARS 119.000 Millionen
- Aktienrückkäufe von etwa 4,0% des Grundkapitals, Investitionen in Höhe von ARS 29.674 Millionen
Die finanzielle Performance des Unternehmens zeigte gemischte Ergebnisse, mit steigendem EBITDA, aber einem erheblichen Nettoverlust. IRSA verwaltet weiterhin aktiv sein Immobilienportfolio und gibt den Aktionären durch Dividenden und Aktienrückkäufe Wert zurück.
- Rental adjusted EBITDA increased by 8.8% to ARS 171,772 million
- High occupancy rate maintained at 97.4% in Shopping Centers
- Distributed dividends totaling ARS 119,000 million
- Repurchased approximately 4.0% of share capital, investing ARS 29,674 million
- Acquired property next to Alto Avellaneda shopping mall with expansion potential
- Launched plan to develop residential projects, including Ramblas del Plata in Puerto Madero Sur
- Net loss of ARS 23,054 million for fiscal year 2024
- Negative result due to changes in fair value of investment properties
- Real tenant sales in Shopping Centers fell 4.5% compared to 2023
- Total revenues decreased from ARS 331,721 million in FY 2023 to ARS 328,546 million in FY 2024
- EPS (Basic and Diluted) declined from 284.86 and 259.85 in FY 2023 to -24.77 in FY 2024
Insights
IRSA's FY2024 results paint a mixed picture. While rental adjusted EBITDA increased by
The
IRSA's strategic moves, including property sales and new acquisitions, show an effort to optimize its portfolio. The launch of residential projects, particularly in Puerto Madero Sur, could diversify revenue streams but also increases exposure to the residential market risks.
IRSA's performance reflects the volatility in Argentina's real estate market. The significant loss from changes in investment property fair values (
The company's pivot towards residential development, especially the Ramblas del Plata project, indicates a strategic shift to capitalize on potential demand for housing in premium locations. This move could help offset challenges in the commercial sector but also exposes IRSA to the cyclical nature of residential real estate.
The acquisition near Alto Avellaneda shopping mall shows IRSA's commitment to long-term growth in its retail portfolio, despite current headwinds. This expansion strategy could position the company well for a future economic recovery.
IRSA's results provide insights into Argentina's broader economic challenges. The contrasting performance between the first and second halves of the fiscal year aligns with the country's economic volatility. The decline in shopping center sales in the second half suggests deteriorating consumer confidence and purchasing power.
Despite these challenges, IRSA's ability to distribute significant dividends (
The company's focus on residential development, particularly in prime areas like Puerto Madero, could be seen as a hedge against inflation and currency devaluation, as real estate often retains value better than financial assets in such economic conditions. This move may provide some resilience against Argentina's ongoing economic uncertainties.
HIGHLIGHTS
- The rental adjusted EBITDA reached ARS 171,772 million,
8.8% higher than in 2023, driven by the Shopping Centers and Hotels segments. - The net result for fiscal year 2024 recorded a loss of ARS 23,054 million due mainly to the negative result due to changes in the fair value of investment properties.
- Real tenant sales in Shopping Centers fell
4.5% in fiscal year 2024 compared to 2023 due to a first semester of growth and a second semester of contraction in economic activity. Occupancy remained high at97.4% . - During the year we sold 3 floors of the "200 Della Paolera" building, the Suipacha 652/64 building, our
50% stake in Quality Invest S.A, owner of the San Martín property, and we bartered the Ezpeleta property in the district of Quilmes,Buenos Aires province. On the other hand, we signed a management trust contract at cost for the residential development of the "Del Plata" building, located in the heart of downtownBuenos Aires . - Subsequently, we acquired a property next to Alto Avellaneda shopping mall, with a built area of 32,660 sqm and potential for future expansion, and we launched an ambitious plan to develop residential projects in
Argentina , among which Ramblas del Plata in Puerto Madero Sur stands out, formerly known as Costa Urbana. - We distributed dividends twice during the fiscal year for a total amount of ARS 119,000 million and repurchased our own shares to date for approximately
4.0% of the share capital, having investedARS 29,674 million .
Financial Highlights
(In millions of Argentine Pesos)
FY 2024
Income Statement | 06/30/2024 | 06/30/2023 |
Revenues | 328,546 | 331,721 |
Consolidated Gross Profit | 219,305 | 217,276 |
Net result from changes in the fair value of investment properties | (350,591) | (182,590) |
Consolidated Result from Operations | (190,695) | (97,115) |
Result for the Period | (23,054) | 215,837 |
Attributable to: | ||
IRSA's Shareholders | (18,377) | 213,076 |
Non-Controlling interest | (4,677) | 2,761 |
EPS (Basic) | (24.77) | 284.86 |
EPS (Diluted) | (24.77) | 259.85 |
Balance Sheet | 06/30/2024 | 06/30/2023 |
Current Assets | 227,724 | 260,910 |
Non-Current Assets | 2,014,041 | 2,382,939 |
Total Assets | 2,241,765 | 2,643,849 |
Current Liabilities | 274,913 | 281,329 |
Non-Current Liabilities | 814,415 | 934,425 |
Total Liabilities | 1,089,328 | 1,215,754 |
Non-Controlling Interest | 73,792 | 82,965 |
Shareholders' Equity | 1,152,437 | 1,428,095 |
IRSA Inversiones y Representaciones S.A. (NYSE: IRS, BYMA: IRSA), the
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