IRSA Inversiones y Representaciones S.A announces its results for the second quarter of Fiscal Year 2024 ended December 31, 2023

BUENOS AIRES, Argentina, Feb. 5, 2024 /PRNewswire/ -- IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA: IRSA), the leading real estate company in Argentina, announces today its results for the second quarter of the Fiscal Year 2024 ended December 31, 2023.

HIGHLIGHTS

• The net result for the second quarter of fiscal year 2024 recorded a gain of ARS 146,593 million compared to ARS 48,072 million in the same period of the previous year, mainly explained by the gain recorded from changes in the fair value of investment properties.

• Rental adjusted EBITDA reached ARS 54,102 million, 12.3% higher than the first half of 2023, driven by the shopping malls and hotels segments. Total adjusted EBITDA reached ARS 66,940 million, increasing 54.6% compared to the same period of the previous year, mainly explained by higher sales of investment properties.

• Malls' tenant real sales grew by 8.9% in the first half of fiscal year 2024 compared to 2023 and occupancy stood at levels of 98%.

• Regarding the premium office segment, we reached 92.8% occupancy this quarter and sold 2 additional floors of the "200 Della Paolera" building, in Catalinas.

• In January 2024, the process of distributing the cash dividend and treasury shares in the portfolio, approved by the Shareholders' Meeting on October 5, 2023, to GDS holders, which was pending, was concluded.

Financial Highlights
(In millions of Argentine Pesos)
6M FY 2024 

The Company's market capitalization as of December 31, 2023, was approximately USD 634 million. (73,682,282 GDS with a price per GDS of USD 8.60).

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 IIQ FY 2024 Results Conference Call on Tuesday, February 6, 2024, at 08:00 AM US Eastern Time / 10:00 AM BA Time.

To access the Webinar:
https://zoom.us/webinar/register/WN_DnKMMO0dQLi-UXi1-LFJDA

Webinar ID: 996 3178 5799

Password: 065321

In addition, you can participate communicating to this numbers:

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Investor Relations Department.

+ 5411 4323-7449
[email protected]
https://www.irsa.com.ar/home-inversores.php?lng=en
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SOURCE IRSA Inversiones y Representaciones S.A.