Q1 2025 IRSA Inversiones y Representaciones SA Earnings Call Transcript
Key Points
- IRSA Inversiones y Representaciones SA achieved an adjusted EBITDA of ARS 46.9 billion, indicating strong operational performance despite a slight decrease from the previous quarter.
- The company reported high occupancy rates in its shopping malls and office spaces, with shopping malls at 97% and offices at 98%, showcasing effective property management.
- IRSA Inversiones y Representaciones SA successfully acquired a plot of land adjoining the Alto Avellaneda shopping mall, positioning itself for future expansion.
- The company announced and paid dividends amounting to ARS 90 billion, reflecting a robust dividend yield of approximately 8%.
- IRSA Inversiones y Representaciones SA maintains a conservative financial structure with a net debt to rental EBITDA ratio of 1.8 times, indicating strong financial health and stability.
- The company posted a net loss of ARS 109 billion, primarily due to non-cash effects related to the valuation of investment properties.
- Tenant sales showed only a slight recovery, remaining 12% below the numbers from the previous year, indicating challenges in retail performance.
- The hotel segment faced challenges with a decrease in occupancy from 66% to 55% and a drop in rates, impacting overall revenue from this segment.
- IRSA Inversiones y Representaciones SA experienced a 10% decrease in adjusted EBITDA compared to the previous year, with significant drops in the hotel segment.
- The appreciation of the Argentine peso led to valuation losses in investment properties when converted to peso terms, affecting the company's financial results.
Good morning, everyone. I'm Santiago Donato, Investor Relations Officer of IRSA. And I welcome you to the first quarter of fiscal year 2025 results conference call.
First of all, I would like to remind you that both audio and slide show may be accessed through company's investor relations website at www.irsa.com.ar by clicking on the banner webcast link the following presentation and the earnings release are also available for download on the company website.
After management remarks, there will be a question and answer session for analysts and investors. If you want to make a question, please use the chat. Before we begin I would like to remind you that this call is being recorded and that information discussed today may include forward-looking statements regarding the company's financial and operating performance. All projections are subject to risk and uncertainties and actual results may differ materially. Please refer to the detailed
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