IRSA Inversiones y Representaciones S.A announces its results for the second quarter of Fiscal Year 2025 ended December 31, 2024
IRSA Inversiones y Representaciones reported its Q2 FY2025 results, showing a net loss of ARS 40,971 million compared to a gain of ARS 319,226 million in the same period last year. The loss was primarily attributed to changes in fair value of investment properties, which is a non-cash accounting effect.
Shopping mall tenant sales increased 21.4% quarter-over-quarter but decreased 8.5% year-over-year. The company acquired 'Terrazas de Mayo' shopping mall for USD 27.75 million, featuring 33,700 sqm of leasable area. The premium office portfolio reached 100% occupancy, and the company sold a floor of Della Paolera 261 building for USD 7.1 million.
Additionally, IRSA signed agreements to sell two lots of the Ramblas del Plata project with 40,000 sqm of saleable area for USD 23.4 million. The company's market capitalization as of December 31, 2024, was approximately USD 1,117 million.
IRSA Inversiones y Representaciones ha riportato i risultati del secondo trimestre dell'anno fiscale 2025, mostrandosi con una perdita netta di 40.971 milioni di ARS rispetto a un guadagno di 319.226 milioni di ARS nello stesso periodo dell'anno scorso. La perdita 猫 stata attribuita principalmente a variazioni nel valore equo delle propriet脿 d'investimento, un effetto contabile non monetario.
Le vendite dei locatari nei centri commerciali sono aumentate del 21,4% rispetto al trimestre precedente, ma sono diminuite dell'8,5% rispetto all'anno precedente. L'azienda ha acquisito il centro commerciale 'Terrazas de Mayo' per 27,75 milioni di USD, con una superficie affittabile di 33.700 mq. Il portafoglio di uffici di prestigio ha raggiunto una capacit脿 occupazionale del 100%, e l'azienda ha venduto un piano del palazzo Della Paolera 261 per 7,1 milioni di USD.
Inoltre, IRSA ha firmato accordi per vendere due lotti del progetto Ramblas del Plata con una superficie vendibile di 40.000 mq per 23,4 milioni di USD. La capitalizzazione di mercato dell'azienda al 31 dicembre 2024 era di circa 1.117 milioni di USD.
IRSA Inversiones y Representaciones inform贸 sus resultados del segundo trimestre del a帽o fiscal 2025, mostrando una p茅rdida neta de 40.971 millones de ARS en comparaci贸n con una ganancia de 319.226 millones de ARS en el mismo periodo del a帽o anterior. La p茅rdida se atribuy贸 principalmente a los cambios en el valor razonable de las propiedades de inversi贸n, que es un efecto contable no monetario.
Las ventas de los inquilinos de los centros comerciales aumentaron un 21,4% en comparaci贸n con el trimestre anterior, pero disminuyeron un 8,5% en comparaci贸n con el a帽o anterior. La empresa adquiri贸 el centro comercial 'Terrazas de Mayo' por 27,75 millones de USD, con una superficie alquilable de 33.700 m虏. La cartera de oficinas premium alcanz贸 el 100% de ocupaci贸n, y la empresa vendi贸 un piso del edificio Della Paolera 261 por 7,1 millones de USD.
Adem谩s, IRSA firm贸 acuerdos para vender dos lotes del proyecto Ramblas del Plata con 40.000 m虏 de 谩rea vendible por 23,4 millones de USD. La capitalizaci贸n de mercado de la empresa a fecha del 31 de diciembre de 2024 era de aproximadamente 1.117 millones de USD.
IRSA Inversiones y Representaciones電� 2025 須岅硠鞐半弰 2攵勱赴 鞁れ爜鞚� 氤搓碃頃橂┌, 歆�雮滍暣 臧欖潃 旮瓣皠鞐� 牍勴暣 40,971鞏� ARS鞚� 靾滌啇鞁れ潉 旮半頄堨姷雼堧嫟. 歆�雮滍暣 臧欖潃 旮瓣皠鞐愲姅 319,226鞏� ARS鞚� 鞚挫澋鞚� 鞛堨棃鞀惦媹雼�. 靻愳嫟鞚� 欤茧 韴瀽 攵�霃欖偘鞚� 瓿奠爼 臧�旃� 氤�霃欖溂搿� 鞚疙暅 瓴冹溂搿�, 鞚措姅 牍勴槃旮堨爜 須岅硠 須臣鞛呺媹雼�.
靽柬晳氇办潣 鞛勲寑鞐呾泊 毵れ稖鞚� 鞚挫爠 攵勱赴 雽�牍� 21.4% 歃濌皜頄堨溂雮�, 鞝勲厔 雽�牍� 8.5% 臧愳唽頄堨姷雼堧嫟. 鞚� 須岇偓電� 33,700 鞝滉潮氙疙劙鞚� 鞛勲寑 臧�電� 氅挫爜鞚� 臧栰稑 'Terrazas de Mayo' 靽柬晳氇办潉 2,775毵� 雼煬鞐� 鞚胳垬頄堨姷雼堧嫟. 頂勲Μ氙胳梽 鞓ろ敿鞀� 韽姼韽措Μ鞓る姅 100% 鞝愳湢鞙潉 旮半頄堨溂氅�, Della Paolera 261 瓯措鞚� 頃� 旄奠潉 710毵� 雼煬鞐� 韺愲Г頄堨姷雼堧嫟.
霕愴暅, IRSA電� 40,000 鞝滉潮氙疙劙鞚� 韺愲Г 臧�電� 氅挫爜鞚� 臧�歆�電� Ramblas del Plata 頂勲鞝濏姼鞚� 霊� 臧� 頃勳毳� 2,340毵� 雼煬鞐� 韺愲Г頃橂姅 瓿勳暯鞚� 觳搓舶頄堨姷雼堧嫟. 2024雲� 12鞗� 31鞚� 旮办鞙茧 須岇偓鞚� 鞁滉皜 齑濎暋鞚� 鞎� 11鞏� 1,700毵� 雼煬鞓�鞀惦媹雼�.
IRSA Inversiones y Representaciones a annonc茅 ses r茅sultats pour le 2猫me trimestre de l'exercice 2025, faisant 茅tat d'une perte nette de 40,971 millions d'ARS par rapport 脿 un gain de 319,226 millions d'ARS durant la m锚me p茅riode l'ann茅e derni猫re. La perte est principalement attribu茅e aux variations de la juste valeur des propri茅t茅s d'investissement, ce qui constitue un effet comptable non mon茅taire.
Les ventes des locataires des centres commerciaux ont augment茅 de 21,4 % par rapport au trimestre pr茅c茅dent, mais ont diminu茅 de 8,5 % par rapport 脿 l'ann茅e pr茅c茅dente. L'entreprise a acquis le centre commercial 'Terrazas de Mayo' pour 27,75 millions USD, avec une superficie locative de 33 700 m虏. Le portefeuille de bureaux haut de gamme a atteint un taux d'occupation de 100 %, et l'entreprise a vendu un 茅tage de l'immeuble Della Paolera 261 pour 7,1 millions USD.
De plus, IRSA a sign茅 des accords pour vendre deux parcelles du projet Ramblas del Plata avec une surface vendable de 40 000 m虏 pour 23,4 millions USD. La capitalisation boursi猫re de l'entreprise au 31 d茅cembre 2024 茅tait d'environ 1 117 millions USD.
IRSA Inversiones y Representaciones berichtete 眉ber die Ergebnisse des 2. Quartals des Gesch盲ftsjahres 2025 und verzeichnete einen Nettoverlust von 40.971 Millionen ARS im Vergleich zu einem Gewinn von 319.226 Millionen ARS im gleichen Zeitraum des Vorjahres. Der Verlust wurde haupts盲chlich auf 脛nderungen des fairen Wertes von Investmentimmobilien zur眉ckgef眉hrt, was einen nicht zahlungswirksamen Buchungseffekt darstellt.
Die Verk盲ufe der Mieter in den Einkaufszentren stiegen im Quartalsvergleich um 21,4%, fielen jedoch im Jahresvergleich um 8,5%. Das Unternehmen erwarb das Einkaufszentrum 'Terrazas de Mayo' f眉r 27,75 Millionen USD, das 眉ber eine vermietbare Fl盲che von 33.700 m虏 verf眉gt. Das Premium-B眉roportfolio erreichte eine Auslastung von 100%, und das Unternehmen verkaufte eine Etage des Geb盲udes Della Paolera 261 f眉r 7,1 Millionen USD.
Zus盲tzlich unterzeichnete IRSA Vertr盲ge zum Verkauf von zwei Parzellen des Projekts Ramblas del Plata mit 40.000 m虏 verk盲uflicher Fl盲che f眉r 23,4 Millionen USD. Die Marktkapitalisierung des Unternehmens betrug am 31. Dezember 2024 etwa 1.117 Millionen USD.
- Premium office portfolio reached 100% occupancy
- Shopping mall tenant sales increased 21.4% quarter-over-quarter
- Strategic acquisition of Terrazas de Mayo mall for USD 27.75 million
- Sale of Della Paolera 261 building floor for USD 7.1 million
- Sale agreement for Ramblas del Plata lots for USD 23.4 million
- Net loss of ARS 40,971 million in H1 FY2025
- Shopping mall tenant sales declined 8.5% year-over-year
- Hotels segment recorded lower revenues and occupancy
- Negative change in fair value of investment properties (ARS 233,073 million)
Insights
IRSA's Q2 FY2025 results present a complex picture of Argentina's leading real estate company's performance. The headline ARS 41 billion loss primarily stems from non-cash fair value adjustments, which often reflect broader market conditions rather than operational performance. The core business shows resilience in key areas:
The shopping mall segment demonstrates encouraging sequential growth with a
The office segment achieved a significant milestone with
The post-period agreement to sell Ramblas del Plata lots for
HIGHLIGHTS
- The net result for the first semester of fiscal year 2025 recorded a loss of聽ARS 40,971 million compared to a gain of
ARS 319,226 million in the same period of the previous year, mainly due to the loss recorded from changes in the fair value of investment properties. This is an accounting effect that does not imply cash movements. - AG真人官方 tenant sales in shopping malls continue to recover on a quarterly basis. They increased by
21.4% compared to the previous quarter but declined by8.5% compared to the same period of fiscal year 2024. The segment's adjusted EBITDA for the semester reached聽ARS 94,539 million, just 2,0% below the same period of the previous year. - During the quarter, we acquired a new shopping mall "Terrazas de Mayo", located in
Malvinas Argentinas in the northwest ofGreater Buenos Aires for a total amount ofUSD 27.75 million . The mall has a leasable area of 33,700 sqm and 86 stores. - During the second quarter we reached
100% occupancy of our premium office portfolio and sold an additional floor of the Della聽Paolera 261 building forUSD 7.1 million . - The Hotels segment recorded lower revenues and occupancy in the first half of fiscal year 2025 compared to 2024, in a context of greater appreciation of the Argentine peso against the
U.S. dollar. - Subsequently, we signed sale agreements for two lots of the聽Ramblas del Plata project with an estimated saleable area of 40,000 sqm to a local developer for the sum of
USD 23.4 million .
Financial Highlights
(In millions of Argentine Pesos)
6M FY 2025
Income Statement | 12/31/2024 | 12/31/2023 |
Revenues | 212,141 | 220,936 |
Consolidated Gross Profit | 130,934 | 149,605 |
Net result from changes in the fair value of investment properties | (233,073) | 300,126 |
Consolidated Result from Operations | (149,784) | 420,889 |
Result for the Period | (40,971) | 319,226 |
Attributable to: | ||
IRSA's Shareholders | (39,773) | 308,177 |
Non-Controlling interest | (1,198) | 11,049 |
EPS (Basic) | (54.19) | 412.55 |
EPS (Diluted) | (54.19) | 413.11 |
Balance Sheet | 12/31/2024 | 06/30/2024 |
Current Assets | 271,335 | 275,848 |
Non-Current Assets | 2,230,471 | 2,439,662 |
Total Assets | 2,501,806 | 2,715,510 |
Current Liabilities | 380,247 | 333,008 |
Non-Current Liabilities | 885,019 | 986,524 |
Total Liabilities | 1,265,266 | 1,319,532 |
Non-Controlling Interest | 80,071 | 89,386 |
Shareholders' Equity | 1,236,540 | 1,395,978 |
The Company's market capitalization as of December 31, 2024, was approximately
IRSA Inversiones y Representaciones S.A. (NYSE: IRS, BYMA: IRSA), the
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FAQ
What caused IRSA's net loss in Q2 FY2025?
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