The Company today announced its results for the third quarter of Fiscal 2022.
– In December 2021, the Shareholders’ Meetings of IRSA and IRSA PC approved the merger by absorption between the companies, in which IRSA absorbs IRSA PC. The merger has an effective date of July 1, 2021 and the exchange of IRSA PC shares for IRSA shares will take place in the next few days.
– Net income for the nine-month period of fiscal 2022 recorded a gain of ARS 11,502 million compared to a loss of ARS 22,821 million in the previous year.
– Adjusted EBITDA reached ARS 12,927 million in the 9-month period of fiscal 2022, 28.2% lower than in the same period of 2021 due to lower sales of investment properties and 13.4% higher than in the same period of 2020. Adjusted EBITDA from rent reached ARS 10,060 million (ARS 7,778 million from Shopping Centers, ARS 1,540 million from offices and ARS 742 million from Hotels).
– Mall tenant sales grew in real terms during the third quarter of 2022 by 21.2% compared to the same quarter of 2019, unaffected by the pandemic. Portfolio occupancy grew to 91.5%.
– During the quarter we sold 5 floors of the “261 Della Paolera” building with a surface area of 5,920 m2 for approximately USD 52 million and subsequently, we sold 100% of the República building en bloc, with a surface area of 19,885 m2 for approximately USD 131.8 million.
– In March 2022, we launched a share repurchase plan for up to ARS 1,000 million of our own shares. To date, approximately 7.3% of the program has been repurchased.
