IRSA Inversiones y Representaciones S.A announces its results for the first quarter of Fiscal Year 2025 ended September 30, 2024
IRSA Inversiones y Representaciones reported a net loss of ARS 109,135 million in Q1 FY2025, compared to a gain of ARS 250,538 million in the same period last year. The loss was primarily attributed to changes in fair value of investment properties. Shopping center sales declined 12.1% year-over-year, while premium office portfolio occupancy improved to 97.9%. The company acquired a property near Alto Avellaneda shopping center for USD 12.2 million and sold a floor of Della Paolera 261 building for USD 7.1 million. A cash dividend of ARS 90,000 million was approved, along with distribution of own shares representing 3.6% of stock capital.
IRSA Inversiones y Representazioni ha riportato una perdita netta di ARS 109.135 milioni nel primo trimestre dell'anno fiscale 2025, rispetto a un guadagno di ARS 250.538 milioni nello stesso periodo dell'anno scorso. La perdita è stata principalmente attribuita a variazioni del valore equo delle proprietà immobiliari. Le vendite dei centri commerciali sono diminuite del 12,1% su base annua, mentre l'occupazione del portafoglio di uffici premium è migliorata fino al 97,9%. L'azienda ha acquisito un immobile vicino al centro commerciale Alto Avellaneda per 12,2 milioni di dollari e ha venduto un piano dell'edificio Della Paolera 261 per 7,1 milioni di dollari. È stato approvato un dividendo in contante di ARS 90.000 milioni, insieme alla distribuzione di proprie azioni che rappresentano il 3,6% del capitale sociale.
IRSA Inversiones y Representaciones reportó una pérdida neta de ARS 109,135 millones en el primer trimestre del año fiscal 2025, en comparación con una ganancia de ARS 250,538 millones en el mismo período del año pasado. La pérdida se atribuyó principalmente a cambios en el valor razonable de las propiedades de inversión. Las ventas de centros comerciales cayeron un 12.1% interanual, mientras que la ocupación del portafolio de oficinas premium mejoró al 97.9%. La empresa adquirió una propiedad cerca del centro comercial Alto Avellaneda por 12.2 millones de dólares y vendió un piso del edificio Della Paolera 261 por 7.1 millones de dólares. Se aprobó un dividendo en efectivo de ARS 90,000 millones, junto con la distribución de acciones propias que representan el 3.6% del capital social.
IRSA 투자 및 대리점은 2025 회계 연도 1분기에 ARS 109,135 백만의 순손실을 보고했으며, 이는 작년 같은 기간에 ARS 250,538 백만의 이익과 비교되는 수치입니다. 이 손실은 주로 투자 부동산의 공정 가치 변화에 기인했습니다. 쇼핑 센터 판매는 작년 대비 12.1% 감소했으며, 프리미엄 오피스 포트폴리오의 점유율은 97.9%로 개선되었습니다. 이 회사는 Alto Avellaneda 쇼핑 센터 근처의 부동산을 1,220만 달러에 인수했고, Della Paolera 261 건물의 한 층을 710만 달러에 판매했습니다. ARS 90,000 백만의 현금 배당금이 승인되었으며, 자사주식의 3.6%를 배분하기로 결정했습니다.
IRSA Inversiones et Représentations a annoncé une perte nette de 109 135 millions d'ARS au premier trimestre de l'exercice 2025, par rapport à un gain de 250 538 millions d'ARS au cours de la même période l'année précédente. La perte a été principalement attribuée aux variations de la juste valeur des propriétés d'investissement. Les ventes des centres commerciaux ont diminué de 12,1% par rapport à l'année précédente, tandis que le taux d'occupation du portefeuille de bureaux haut de gamme s'est amélioré pour atteindre 97,9%. L'entreprise a acquis un bien près du centre commercial Alto Avellaneda pour 12,2 millions de dollars et a vendu un étage du bâtiment Della Paolera 261 pour 7,1 millions de dollars. Un dividende en espèces de 90 000 millions d'ARS a été approuvé, ainsi que la distribution de titres propres représentant 3,6% du capital social.
IRSA Investitionen und Repräsentationen berichtete für das erste Quartal des Geschäftsjahres 2025 einen Nettoverlust von ARS 109.135 Millionen, verglichen mit einem Gewinn von ARS 250.538 Millionen im gleichen Zeitraum des Vorjahres. Der Verlust wurde hauptsächlich auf Änderungen des fairen Wertes von Investmentimmobilien zurückgeführt. Verkäufe von Einkaufszentren sanken im Jahresvergleich um 12,1%, während die Belegung des Premium-Büroportfolios auf 97,9% anstieg. Das Unternehmen erwarb eine Immobilie in der Nähe des Einkaufszentrums Alto Avellaneda für 12,2 Millionen USD und verkaufte eine Etage des Della Paolera 261 Gebäudes für 7,1 Millionen USD. Eine Bar-Dividende von ARS 90.000 Millionen wurde genehmigt, ebenso wie die Verteilung eigener Aktien, die 3,6% des Aktienkapitals darstellen.
- Premium office portfolio occupancy increased to 97.9%
- Shareholders approved cash dividend with 8% yield
- Market capitalization stands at approximately USD 850 million
- Net loss of ARS 109,135 million in Q1 FY2025 vs gain last year
- Shopping center tenant sales declined 12.1% year-over-year
- Revenue decreased from ARS 94,939M to ARS 89,873M
- Hotels segment showed reduced income and occupancy levels
- Operating loss of ARS 187,584M vs profit of ARS 375,142M last year
Insights
The Q1 FY2025 results show concerning trends for IRSA. The company reported a significant loss of
- Shopping Centers saw tenant sales decline by
12.1% year-over-year - Hotels segment experienced reduced income and occupancy due to Argentina's weakening exchange rate competitiveness
- Revenue dropped to
ARS 89,873 million fromARS 94,939 million
The substantial negative swing in investment property fair value (
HIGHLIGHTS
- The net result for the first quarter of fiscal year 2025 recorded a loss of
ARS 109,135 million compared to a gain ofARS 250,538 million in the same period of the previous year, mainly due to the loss recorded due to changes in the fair value of investment properties. This is an accounting effect that does not involve cash movements. - Real tenant sales in Shopping Centers recovered slightly compared to previous quarters, although they fell
12.1% compared to the first quarter of fiscal year 2024. The adjusted EBITDA of the segment reachedARS 41,116 million , in line with the same quarter of the previous year. - The average occupancy of the premium office portfolio rose to
97.9% in the quarter mainly due to the improvement in the occupancy of Dot Building. - The Hotels segment reduced its income and occupancy levels in the first quarter of fiscal year 2025 compared to 2024 due to lower exchange competitiveness in
Argentina . - During the quarter we acquired a property adjacent to the Alto Avellaneda shopping center for its future expansion for
USD 12.2 million and subsequently, we sold an additional floor of the Della Paolera 261 building forUSD 7.1 million . - On October 28, 2024, the Shareholders' Meeting approved the distribution of a cash dividend of
ARS 90,000 million (dividend yield8% ) and own shares in the portfolio, representing approximately3.6% of the stock capital.
Financial Highlights | ||
(In millions of Argentine Pesos) | ||
3M FY 2025 | ||
Income Statement | 09/30/2024 | 09/30/2023 |
Revenues | 89,873 | 94,939 |
Consolidated Gross Profit | 57,415 | 64,045 |
Net result from changes in the fair value of investment properties | (225,499) | 316,084 |
Consolidated Profit / (Loss) from Operations | (187,584) | 375,142 |
Result for the Period | (109,035) | 250,538 |
Attributable to: | ||
IRSA's Shareholders | (105,646) | 238,061 |
Non-Controlling interest | (3,389) | 12,477 |
EPS (Basic) | (145.92) | 323.89 |
EPS (Diluted) | (145.92) | 319.12 |
Balance Sheet | 09/30/2024 | 06/30/2024 |
Current Assets | 257,290 | 255,350 |
Non-Current Assets | 2,029,205 | 2,258,362 |
Total Assets | 2,286,495 | 2,513,712 |
Current Liabilities | 313,785 | 308,258 |
Non-Current Liabilities | 807,193 | 913,213 |
Total Liabilities | 1,120,978 | 1,221,471 |
Non-Controlling Interest | 75,902 | 82,744 |
Shareholders' Equity | 1,165,517 | 1,292,241 |
The Company's market capitalization as of September 30, 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.
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