IRSA Inversiones y Representaciones S.A. announces today its results for the first quarter of the Fiscal Year 2022 ended September 30, 2021.
BUENOS AIRES, Argentina, Nov. 10, 2021 /PRNewswire/ -- IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA: IRSA), the leading real estate company in Argentina, announces today its results for the first quarter of the Fiscal Year 2022 ended September 30, 2021.
HIGHLIGHTS
- Rental segment showed a recovery in the main indicators of shopping malls and hotels, while the office segment showed a slight decrease in the average rent and occupancy. The rental adjusted EBITDA reached ARS 2,152 million during the quarter (ARS 1,506 million in shopping malls, ARS 567 million in offices and ARS 79 million in hotels), 36.5% lower than the observed in the same period of 2020, not affected by the closure of operations.
- The net result for the first quarter of fiscal year 2022 recorded a loss of ARS 1,014 million compared to a gain of ARS 22,468 million in the same quarter of the previous fiscal year, mainly explained by negative results due to changes in the fair value of investment properties.
- During the quarter, the Company's Board of Directors approved a corporate reorganization process consisting of the merger by absorption between the company and IRSA CP, in which IRSA would be the absorbing company. The process is subject to the approval of the Shareholders' Meeting that will be carried out in the coming months.
- As a subsequent event, our subsidiary IRSA CP sold 3 floors of "261 Della Paolera" building with a surface area of 3,582 sqm for an approximate amount of USD 32 million.
Financial Highlights |
||
(In millions of Argentine Pesos) |
||
3M FY 2022 |
||
Income Statement |
09/30/2021 |
09/30/2020 |
Revenues |
4,382 |
2,453 |
Consolidated Gross Profit |
2,628 |
780 |
Net result from changes in the fair value of investment properties |
(6,494) |
36,728 |
Consolidated (Loss) / Profit from Operations |
(4,689) |
35,856 |
Result for the Period |
(1,014) |
12,716 |
Attributable to: |
||
IRSA's Shareholders |
(600) |
10,086 |
Non-Controlling interest |
(414) |
2,630 |
EPS (Basic) |
(0.91) |
17.53 |
EPS (Diluted) |
(0.91) |
17.48 |
Balance Sheet |
09/30/2021 |
06/30/2021 |
Current Assets |
15,308 |
15,216 |
Non-Current Assets |
221,796 |
228,247 |
Total Assets |
237,104 |
243,463 |
Current Liabilities |
21,251 |
24,192 |
Non-Current Liabilities |
126,629 |
128,868 |
Total Liabilities |
147,880 |
153,060 |
Non-Controlling Interest |
22,423 |
22,831 |
Shareholders' Equity |
89,224 |
90,403 |
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 IQ FY 2022 Results Conference Call on Wednesday, November 10, 2021, at 02:00 PM US Eastern Time / 04:00 PM BA Time.
To access the Webinar:
https://irsacorp.zoom.us/j/87584599610?pwd=ZTUvVXdGRGhUbnIzMDBBc0tWdTdudz09
Webinar ID: 875 8459 9610
Password: 450632
In addition, you can participate communicating to this numbers:
Argentina: +54 112 040 0447 or +54 115 983 6950 or +54 341 512 2188 or +54 343 414 5986
Israel: +972 3 978 6688 or +972 55 330 1762
Brazil: +55 11 4700 9668 or +55 21 3958 7888 or +55 11 4632 2236 or +55 11 4632 2237 or +55 11 4680 6788
United States of America: +1 312 626 6799 or +1 346 248 7799 or +1 646 558 8656 or +1 669 900 9128 or +1 253 215 8782 or +1 301 715 8592
Chile: +56 232 938 848 or +56 41 256 0288 or +56 22 573 9304 or +56 22 573 9305 or +56 23 210 9066
Investor Relations Department.
+ 5411 4323-7449
[email protected]
https://www.irsa.com.ar/home-inversores.php?lng=en
Follow us on Twitter @irsair
SOURCE IRSA Inversiones y Representaciones S.A.
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