IRSA Inversiones y Representaciones S.A announces its results for the third quarter of Fiscal Year 2023 ended March 31, 2023Source: IRSA Inversiones y Representaciones S.A

BUENOS AIRES, Argentina, May 8, 2023 /PRNewswire/ -- IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA: IRSA), leading real estate company in Argentina, announces today its results for the third quarter of the Fiscal Year 2023 ended March 31, 2023.

HIGHLIGHTS

• The net result for the nine-month period of fiscal year 2023 registered a gain of ARS 31,768 million, 35.2% higher than the same period of the previous fiscal year.
• Adjusted EBITDA from the rental segments reached ARS 26,682 million, 38.7% higher than the nine-month period of the previous year, driven by the Shopping Centers and Hotels segments. Total adjusted EBITDA, which includes sales of investment properties, reached ARS 31,251 million, increasing 20.1% in the period.
• Tenant sales in Shopping Centers grew by 18.3% in the nine-month period of 2023 compared to the same period of 2022 and the occupancy grew significantly, reaching 96.8%.
• In March 2023, we sold 7 floors of the "200 Della Paolera" building for USD 81.2 million.
• During the quarter, we issued Series XV and XVI Notes for the sum of USD 90 million and canceled the Series I, II and IX Notes for the sum of USD 204.8 million.
• On May 5, 2023, the Company distributed to its shareholders a cash dividend of ARS 21.900 million, equivalent to ARS/share 27.3135 and ARS/ADR 273.1345.

Financial Highlights
(In millions of Argentine Pesos)
9M FY 2023

Income Statement	03/31/2023	03/31/2022
Revenues	53,876	39,759
Consolidated Gross Profit	35,420	24,520
Net result from changes in the fair value of investment properties	(34,909)	(22,666)
Consolidated Result from Operations	(14,608)	(7,417)
Result for the Period	31,768	23,501
Attributable to:
IRSA's Shareholders	30,768	25,476
Non-Controlling interest	1,000	(1,975)
EPS (Basic)	38.44	31.49
EPS (Diluted)	34.46	28.60
Balance Sheet	03/31/2023	06/30/2022
Current Assets	63,797	73,879
Non-Current Assets	517,736	575,387
Total Assets	581,533	649,266
Current Liabilities	44,595	150,529
Non-Current Liabilities	220,777	203,136
Total Liabilities	265,372	353,665
Non-Controlling Interest	18,407	18,938
Shareholders' Equity	316,161	295,601

 

The Company's market capitalization as of March 31, 2023, was approximately USD 471 million. (81,112,220 GDS with a price per GDS of USD 5.81).

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 IIIQ FY 2023 Results Conference Call on Tuesday, May 9, 2023, at 10:00 AM US Eastern Time / 11:00 PM BA Time.

To access the Webinar:
https://irsacorp.zoom.us/webinar/register/WN_z9ElVx6qQ1ODrafTyxxMnA
Webinar ID: 848 3675 6844
Password: 103953

In addition, you can participate communicating to this numbers:
Argentina: +54 341 512 2188 or +54 343 414 5986 or +54 112 040 0447 or +54 115 983 6950
Israel: +972 2 376 4510 or +972 3 978 6688 or +972 2 376 4509
Brasil : +55 11 4632 2237  or +55 11 4680 6788  or +55 11 4700 9668  or +55 21 3958 7888  or +55 11 4632 2236
Estados Unidos: +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 or +1 309 205 3325 or +1 312 626 6799 or +1 346 248 7799 or +1 360 209 5623 or +1 386 347 5053
Chile: +56 22 573 9305 or +56 23 210 9066  or +56 232 938 848  or +56 41 256 0288  or +56 22 5739304

Investor Relations Department
+ 5411 4323-7449
ir@irsa.com.ar
https://www.irsa.com.ar/home-inversores.php?lng=en
Follow us on Twitter @irsair

 

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SOURCE IRSA Inversiones y Representaciones S.A.