IRSA Announces The Results For FY23, Ended June 30, 2023; FY23 EPS $0.29; Revenue $387.94M
Portfolio Pulse from Happy Mohamed
IRSA has announced its FY23 results, recording a profit of ARS 58,094 million, 22.8% lower than FY22. Rental adjusted EBITDA increased by 24.9% driven by the Shopping Centers and Hotels segments. Mall tenant sales grew by 16.0% and occupancy reached 97.4%. The company sold properties for a total of USD 163.7 million and reduced net debt by 67% since 2020. Dividends were distributed twice this fiscal year for a total of USD 124.1 million and the company repurchased 1.7% of its capital stock.
September 06, 2023 | 7:07 pm
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IRSA's FY23 results show a decrease in profit but an increase in rental adjusted EBITDA. The company has also reduced its net debt significantly and distributed dividends twice this fiscal year.
While IRSA's profit has decreased, the company has shown strong performance in other areas such as rental adjusted EBITDA, reduction of net debt, and distribution of dividends. These factors could balance out the impact on the stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100