The Company announces today its results for Fiscal 2022.
– During the year, we completed the merger between IRSA and IRSA Propiedades Comerciales, effective July 1, 2021.
– Net income for fiscal 2022 recorded a gain of ARS 34,892 million compared to a loss of ARS 61,641 million in fiscal 2021.
– Adjusted EBITDA reached ARS 27,427 million in FY2022, 49% higher than in 2019, unaffected by the pandemic. Adjusted EBITDA from rent reached ARS 15,782 million (ARS 12,248 million from Shopping Centers, ARS 2,443 million from offices and ARS 1,091 million from Hotels).
– Actual mall tenant sales grew by 9.5% in 2022 compared to 2019, which had not been 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 of the Buenos Aires City Legislature of our main project “Costa Urbana” in Puerto Madero Sur to develop approximately 900,000 m2 of mixed uses.
– In the financial area, we issued debt in the local market for USD 58.1 million and after the closing, we completed the exchange of the Class 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 Argentina, reaching an acceptance rate of 66.4%. – During the year, we launched a share repurchase plan for up to ARS 1,000 million, which to date is 87.8% complete.
