IRS - IRSA Inversiones y Representaciones Sociedad Anónima (IRS) Q3 2024 Earnings Call Transcript
2024-05-08 14:24:07 ET
IRSA Inversiones y Representaciones Sociedad Anónima (IRS)
Q3 2024 Results Conference Call
May 08, 2024 10:00 AM ET
Company Participants
Matias Ivan Gaivironsky - CFO
Santiago Donato - IRO
Jorge Cruces - CIO
Presentation
Matias Ivan Gaivironsky
So good morning, everybody. Today, we will review the results of our Nine Months Period of our Fiscal Year 2024. This was a special quarter with a big change on the political side, with the assumption of the new administration, a big change also on the economic side, with the first measures of the new administration that tend to stabilize the economy, reduce the deficit, reduce the inflation. So, so far, there were good results. This is too early to see results on our industry. But we have a strong hope in the new administration and to obtain and achieve an stabilization of the economy that will be very good for our industry. When we review the results of the nine month period, we will see a loss on the net income of around ARS111 billion, that is explained mainly with a noncash effect on the fair value of investment properties that I will explain later. Also, we see good results when we see the adjusted EBITDA with a 9% increase against the same period of the last year. During the quarter, there was a slowdown in consumption and our EBITDA, mainly in the malls, decreased compared with the same period of the last year, that also we will review later. Regarding tenant sales, there was a slowdown in consumption. So we will see a drop. Occupancy are at very good levels, both in malls and in offices. On the financial side, we decided to launch a new buyback program. So, so far, we acquired around 1.7% of our own stock. And also 10 days ago, we decided to pay a new dividend that we will start the distribution tomorrow for our local shareholders. The dividend is for ARS55 billion. So now I will turn the call with Santiago Donato, our IRO....
IRSA Inversiones y Representaciones Sociedad Anónima (IRS) Q3 2024 Earnings Call Transcript