IRSA Announces The Results For FY23, Ended June 30, 2023; FY23 EPS $0.29; Revenue $387.94M

Author: Happy Mohamed | September 06, 2023 03:07pm

HIGHLIGHTS

• The net result for fiscal year 2023 recorded a profit of ARS 58,094 million, 22.8% lower than fiscal year 2022.
• Rental adjusted EBITDA reached ARS 42,500 million, 24.9% higher than fiscal year 2022, driven by the Shopping Centers and Hotels segments. Total adjusted EBITDA reached ARS 36,000 million compared to ARS 59,126 million in 2022.
• Mall tenant sales grew by 16.0% in fiscal year 2023 compared to fiscal year 2022 and occupancy grew significantly, reaching 97.4%.
• During the fiscal year and subsequently, we sold 9 floors of the "200 Della Paolera" building, the Suipacha 652/64 building and our 50% interest in Quality Invest S.A., owner of the San Martín property, for the total amount of USD 163.7 million.
• We concluded our debt refinancing process this year, including the exchange of the Series II Notes for USD 360 million, reducing net debt by 67% since 2020.
• We distributed dividends twice this fiscal year for a total amount of USD 124.1 million and repurchased our own shares for approximately 1.7% of the capital stock.
  • On September 5, 2023, the Board of Directors called a Shareholders' Meeting in order to distribute a dividend for the sum up to ARS 64,000 million, among other points to be discussed.

Posted In: IRS