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home / news releases / IRS - IRSA Will Face A Challenging H1 2024 And Continues To Be A Hold

IRS - IRSA Will Face A Challenging H1 2024 And Continues To Be A Hold

IRSA Inversiones Y Representaciones S.A.

2024-04-10 01:36:03 ET

Summary

  • IRSA's 2Q24 results were impacted by the devaluation of the Argentinian peso, with varying effects on different segments.
  • The company recorded gains from selling office floors and bartering a terrain, but the overall outlook for fiscal 2H24 (calendar 1H24) is potentially disappointing.
  • The recession in Argentina is negatively affecting IRS's main profitability engines, malls and hotels, leading to lower profits.

IRSA ( IRS ) is an Argentinian real estate developer.

I have been writing about the company since 2021 when it was IRCP, the owner of malls, which then was merged into its parent company, IRS. My latest article on the company, from January 2024, recommended a Hold on the company's stock based on elevated profit multiples, which were not justified by the real estate opportunities of the company's land bank....

For further details see:

IRSA Will Face A Challenging H1 2024 And Continues To Be A Hold
Stock Information
Company Name: IRSA Inversiones Y Representaciones S.A.
Stock Symbol: IRS
Market: NYSE
Website: irsa.com.ar
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