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News

06 SEP

Earnings Release FY 2022

The Company announces today its results for the Fiscal Year 2022.

- During the year, we concluded the merger between IRSA and IRSA Commercial Properties that has an effective date of July 1, 2021.

 

- The net result for fiscal year 2022 registered a gain of ARS 34,892 million compared to a loss of ARS 61,641 million in fiscal year 2021.

 

- Adjusted EBITDA reached ARS 27,427 million in fiscal year 2022, 49% higher than in 2019, not affected by the pandemic. Rental adjusted EBITDA reached ARS 15,782 million (ARS 12,248 million for Shopping Malls, ARS 2,443 million for offices and ARS 1,091 million for Hotels).

 

- Mall´s tenant sales grew 9.5% in 2022 compared to 2019, not affected by the pandemic. Portfolio occupancy grew to 93.1%.

 

- During the year, we sold 9 floors of the 200 Della Paolera building for USD 93.2 million and the República building for USD 131.8 million.

 

- In December 2021, we obtained the approval from the Legislature of the City of Buenos Aires of our main project "Costa Urbana" in Puerto Madero Sur to develop approximately 900,000 sqm of mixed uses.

 

- Regarding financial matters, we issued debt in the local market for USD 58.1 million and after closing, we completed the exchange of the Series II Notes, originally issued by IRSA Propiedades Comerciales S.A., for USD 360 million within the framework of the Resolution of the Central Bank of the Argentine Republic, reaching an acceptance of 66.4%.

 

- During the year, we launched a share repurchase plan for up to ARS 1,000 million, which to date has registered an advance of 87.8%.