IRSA Inversiones y Representaciones S.A announces its results for the second quarter of Fiscal Year 2025 ended December 31, 2024
IRSA Inversiones y Representaciones reported its Q2 FY2025 results, showing a net loss of ARS 40,971 million compared to a gain of ARS 319,226 million in the same period last year. The loss was primarily attributed to changes in fair value of investment properties, which is a non-cash accounting effect.
Shopping mall tenant sales increased 21.4% quarter-over-quarter but decreased 8.5% year-over-year. The company acquired 'Terrazas de Mayo' shopping mall for USD 27.75 million, featuring 33,700 sqm of leasable area. The premium office portfolio reached 100% occupancy, and the company sold a floor of Della Paolera 261 building for USD 7.1 million.
Additionally, IRSA signed agreements to sell two lots of the Ramblas del Plata project with 40,000 sqm of saleable area for USD 23.4 million. The company's market capitalization as of December 31, 2024, was approximately USD 1,117 million.
IRSA Inversiones y Representaciones ha riportato i risultati del secondo trimestre dell'anno fiscale 2025, mostrandosi con una perdita netta di 40.971 milioni di ARS rispetto a un guadagno di 319.226 milioni di ARS nello stesso periodo dell'anno scorso. La perdita è stata attribuita principalmente a variazioni nel valore equo delle proprietà d'investimento, un effetto contabile non monetario.
Le vendite dei locatari nei centri commerciali sono aumentate del 21,4% rispetto al trimestre precedente, ma sono diminuite dell'8,5% rispetto all'anno precedente. L'azienda ha acquisito il centro commerciale 'Terrazas de Mayo' per 27,75 milioni di USD, con una superficie affittabile di 33.700 mq. Il portafoglio di uffici di prestigio ha raggiunto una capacità occupazionale del 100%, e l'azienda ha venduto un piano del palazzo Della Paolera 261 per 7,1 milioni di USD.
Inoltre, IRSA ha firmato accordi per vendere due lotti del progetto Ramblas del Plata con una superficie vendibile di 40.000 mq per 23,4 milioni di USD. La capitalizzazione di mercato dell'azienda al 31 dicembre 2024 era di circa 1.117 milioni di USD.
IRSA Inversiones y Representaciones informó sus resultados del segundo trimestre del año fiscal 2025, mostrando una pérdida neta de 40.971 millones de ARS en comparación con una ganancia de 319.226 millones de ARS en el mismo periodo del año anterior. La pérdida se atribuyó principalmente a los cambios en el valor razonable de las propiedades de inversión, que es un efecto contable no monetario.
Las ventas de los inquilinos de los centros comerciales aumentaron un 21,4% en comparación con el trimestre anterior, pero disminuyeron un 8,5% en comparación con el año anterior. La empresa adquirió el centro comercial 'Terrazas de Mayo' por 27,75 millones de USD, con una superficie alquilable de 33.700 m². La cartera de oficinas premium alcanzó el 100% de ocupación, y la empresa vendió un piso del edificio Della Paolera 261 por 7,1 millones de USD.
Además, IRSA firmó acuerdos para vender dos lotes del proyecto Ramblas del Plata con 40.000 m² de área vendible por 23,4 millones de USD. La capitalización de mercado de la empresa a fecha del 31 de diciembre de 2024 era de aproximadamente 1.117 millones de USD.
IRSA Inversiones y Representaciones는 2025 회계연도 2분기 실적을 보고하며, 지난해 같은 기간에 비해 40,971억 ARS의 순손실을 기록했습니다. 지난해 같은 기간에는 319,226억 ARS의 이익이 있었습니다. 손실은 주로 투자 부동산의 공정 가치 변동으로 인한 것으로, 이는 비현금적 회계 효과입니다.
쇼핑몰의 임대업체 매출은 이전 분기 대비 21.4% 증가했으나, 전년 대비 8.5% 감소했습니다. 이 회사는 33,700 제곱미터의 임대 가능 면적을 갖춘 'Terrazas de Mayo' 쇼핑몰을 2,775만 달러에 인수했습니다. 프리미엄 오피스 포트폴리오는 100% 점유율을 기록했으며, Della Paolera 261 건물의 한 층을 710만 달러에 판매했습니다.
또한, IRSA는 40,000 제곱미터의 판매 가능 면적을 가지는 Ramblas del Plata 프로젝트의 두 개 필지를 2,340만 달러에 판매하는 계약을 체결했습니다. 2024년 12월 31일 기준으로 회사의 시가 총액은 약 11억 1,700만 달러였습니다.
IRSA Inversiones y Representaciones a annoncé ses résultats pour le 2ème trimestre de l'exercice 2025, faisant état d'une perte nette de 40,971 millions d'ARS par rapport à un gain de 319,226 millions d'ARS durant la même période l'année dernière. La perte est principalement attribuée aux variations de la juste valeur des propriétés d'investissement, ce qui constitue un effet comptable non monétaire.
Les ventes des locataires des centres commerciaux ont augmenté de 21,4 % par rapport au trimestre précédent, mais ont diminué de 8,5 % par rapport à l'année précédente. L'entreprise a acquis le centre commercial 'Terrazas de Mayo' pour 27,75 millions USD, avec une superficie locative de 33 700 m². Le portefeuille de bureaux haut de gamme a atteint un taux d'occupation de 100 %, et l'entreprise a vendu un étage de l'immeuble Della Paolera 261 pour 7,1 millions USD.
De plus, IRSA a signé des accords pour vendre deux parcelles du projet Ramblas del Plata avec une surface vendable de 40 000 m² pour 23,4 millions USD. La capitalisation boursière de l'entreprise au 31 décembre 2024 était d'environ 1 117 millions USD.
IRSA Inversiones y Representaciones berichtete über die Ergebnisse des 2. Quartals des Geschäftsjahres 2025 und verzeichnete einen Nettoverlust von 40.971 Millionen ARS im Vergleich zu einem Gewinn von 319.226 Millionen ARS im gleichen Zeitraum des Vorjahres. Der Verlust wurde hauptsächlich auf Änderungen des fairen Wertes von Investmentimmobilien zurückgeführt, was einen nicht zahlungswirksamen Buchungseffekt darstellt.
Die Verkäufe der Mieter in den Einkaufszentren stiegen im Quartalsvergleich um 21,4%, fielen jedoch im Jahresvergleich um 8,5%. Das Unternehmen erwarb das Einkaufszentrum 'Terrazas de Mayo' für 27,75 Millionen USD, das über eine vermietbare Fläche von 33.700 m² verfügt. Das Premium-Büroportfolio erreichte eine Auslastung von 100%, und das Unternehmen verkaufte eine Etage des Gebäudes Della Paolera 261 für 7,1 Millionen USD.
Zusätzlich unterzeichnete IRSA Verträge zum Verkauf von zwei Parzellen des Projekts Ramblas del Plata mit 40.000 m² verkäuflicher Fläche für 23,4 Millionen USD. Die Marktkapitalisierung des Unternehmens betrug am 31. Dezember 2024 etwa 1.117 Millionen USD.
- Premium office portfolio reached 100% occupancy
- Shopping mall tenant sales increased 21.4% quarter-over-quarter
- Strategic acquisition of Terrazas de Mayo mall for USD 27.75 million
- Sale of Della Paolera 261 building floor for USD 7.1 million
- Sale agreement for Ramblas del Plata lots for USD 23.4 million
- Net loss of ARS 40,971 million in H1 FY2025
- Shopping mall tenant sales declined 8.5% year-over-year
- Hotels segment recorded lower revenues and occupancy
- Negative change in fair value of investment properties (ARS 233,073 million)
Insights
IRSA's Q2 FY2025 results present a complex picture of Argentina's leading real estate company's performance. The headline ARS 41 billion loss primarily stems from non-cash fair value adjustments, which often reflect broader market conditions rather than operational performance. The core business shows resilience in key areas:
The shopping mall segment demonstrates encouraging sequential growth with a
The office segment achieved a significant milestone with
The post-period agreement to sell Ramblas del Plata lots for
HIGHLIGHTS
- The net result for the first semester of fiscal year 2025 recorded a loss of ARS 40,971 million compared to a gain of
ARS 319,226 million in the same period of the previous year, mainly due to the loss recorded from changes in the fair value of investment properties. This is an accounting effect that does not imply cash movements. - Real tenant sales in shopping malls continue to recover on a quarterly basis. They increased by
21.4% compared to the previous quarter but declined by8.5% compared to the same period of fiscal year 2024. The segment's adjusted EBITDA for the semester reached ARS 94,539 million, just 2,0% below the same period of the previous year. - During the quarter, we acquired a new shopping mall "Terrazas de Mayo", located in
Malvinas Argentinas in the northwest ofGreater Buenos Aires for a total amount ofUSD 27.75 million . The mall has a leasable area of 33,700 sqm and 86 stores. - During the second quarter we reached
100% occupancy of our premium office portfolio and sold an additional floor of the Della Paolera 261 building forUSD 7.1 million . - The Hotels segment recorded lower revenues and occupancy in the first half of fiscal year 2025 compared to 2024, in a context of greater appreciation of the Argentine peso against the
U.S. dollar. - Subsequently, we signed sale agreements for two lots of the Ramblas del Plata project with an estimated saleable area of 40,000 sqm to a local developer for the sum of
USD 23.4 million .
Financial Highlights
(In millions of Argentine Pesos)
6M FY 2025
Income Statement | 12/31/2024 | 12/31/2023 |
Revenues | 212,141 | 220,936 |
Consolidated Gross Profit | 130,934 | 149,605 |
Net result from changes in the fair value of investment properties | (233,073) | 300,126 |
Consolidated Result from Operations | (149,784) | 420,889 |
Result for the Period | (40,971) | 319,226 |
Attributable to: | ||
IRSA's Shareholders | (39,773) | 308,177 |
Non-Controlling interest | (1,198) | 11,049 |
EPS (Basic) | (54.19) | 412.55 |
EPS (Diluted) | (54.19) | 413.11 |
Balance Sheet | 12/31/2024 | 06/30/2024 |
Current Assets | 271,335 | 275,848 |
Non-Current Assets | 2,230,471 | 2,439,662 |
Total Assets | 2,501,806 | 2,715,510 |
Current Liabilities | 380,247 | 333,008 |
Non-Current Liabilities | 885,019 | 986,524 |
Total Liabilities | 1,265,266 | 1,319,532 |
Non-Controlling Interest | 80,071 | 89,386 |
Shareholders' Equity | 1,236,540 | 1,395,978 |
The Company's market capitalization as of December 31, 2024, was approximately
IRSA Inversiones y Representaciones S.A. (NYSE: IRS, BYMA: IRSA), the
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SOURCE IRSA Inversiones y Representaciones S.A.
FAQ
What caused IRSA's net loss in Q2 FY2025?
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What was IRSA's market capitalization as of December 31, 2024?
How did IRSA's shopping mall tenant sales perform in Q2 FY2025?
What is the value of the Ramblas del Plata lots sale agreement?
