IRSA Inversiones y Representaciones S.A.: IRSA Inversiones y Representaciones S.A announces its results for the first quarter of Fiscal Year 2024 ended September 30, 2023

BUENOS AIRES, Argentina, Nov. 7, 2023 /PRNewswire/ -- IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA: IRSA), the leading real estate company in Argentina, announces today its results for first quarter of the Fiscal Year 2024 ended September 30, 2023 .

HIGHLIGHTS

• The net result for the first quarter of fiscal year 2024 recorded a gain of ARS 81,080 million compared to ARS 3,089 million in the same period of the previous year, mainly explained by the gain recorded from changes in the fair value of investment properties.
• The adjusted EBITDA of the rental segments reached ARS 16,713 million, 21% higher than the first quarter of 2023, driven by the Shopping Malls and Hotels segments. Total adjusted EBITDA reached ARS 17,030 million compared to ARS 15,958 million in the same period of the previous year.
• Malls' real tenant sales grew by 10.1% in the first quarter of fiscal year 2024 compared to 2023 and occupancy grew to 98%.
• During the quarter and subsequently, we sold 3 floors of the "200 Della Paolera " building, the Suipacha 652/64 building and our 50% stake in Quality Invest S.A, owner of the San Martín property.
• On October 5, 2023, the Shareholders' Meeting allowed the distribution of a cash dividend of ARS 64,000 million (dividend yield 12%) and own treasury shares, representing approximately 1.7% of the share capital.

Financial Highlights
(In millions of Argentine Pesos)
3M FY 2024
Income Statement	09/30/2023	09/30/2022
Revenues	30,725	27,803
Consolidated Gross Profit	20,727	17,642
Net result from changes in the fair value of investment properties	102,292	(15,797)
Consolidated Profit / (Loss) from Operations	121,405	(2,520)
Result for the Period	81,080	3,089
Attributable to:
IRSA's Shareholders	77,042	2,768
Non-Controlling interest	4,038	321
EPS (Basic)	104.82	3.74
EPS (Diluted)	103.27	3.83
Balance Sheet	09/30/2023	09/30/2022
Current Assets	103,354	94,680
Non-Current Assets	958,009	864,725
Total Assets	1,061,363	959,405
Current Liabilities	88,987	102,090
Non-Current Liabilities	376,619	339,084
Total Liabilities	465,606	441,174
Non-Controlling Interest	32,647	30,107
Shareholders' Equity	595,757	518,231

The Company's market capitalization as of September 30, 2023, was approximately USD 475 million . (73,642,130 GDS with a price per GDS of USD 6.46 ).

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 2024 Results Conference Call on Tuesday, November 7, 2023, at 10:00 AM US Eastern Time / 12:00 PM BA Time.

To access the Webinar:
https://zoom.us/j/93717065884?pwd=VEdYcWF4dDBvalRkaUVGQmpmTHVudz09
Webinar ID: 937 1706 5884
Password: 455400

In addition, you can participate communicating to this numbers:
Argentina : [phone] or [phone] or [phone] or [phone]
Israel : [phone] or [phone] or [phone]
Brazil : [phone] or [phone] or [phone] or [phone] or [phone]
United States of America : [phone] or [phone] or [phone] or [phone] or [phone]
Chile: [phone] or [phone] or [phone] or [phone] or [phone]

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.