IRSA(US:IRS) Prnewswireยท2025-02-07 12:11Core Viewpoint - IRSA Inversiones y Representaciones S.A. reported significant financial losses for the second quarter of Fiscal Year 2025, primarily due to a substantial loss in the fair value of investment properties, despite some recovery in tenant sales in shopping malls [1][4]. Financial Highlights - Revenues for the first half of FY 2025 were ARS 212,141 million, a decrease of 4.0% from ARS 220,936 million in the same period of FY 2024 [3]. - Consolidated Gross Profit fell to ARS 130,934 million, down 12.5% from ARS 149,605 million year-over-year [3]. - The net result from changes in the fair value of investment properties was a loss of ARS 233,073 million, compared to a gain of ARS 300,126 million in the previous year [3][4]. - The consolidated result from operations showed a loss of ARS 149,784 million, contrasting with a profit of ARS 420,889 million in the same period last year [3]. - The net result for the period was a loss of ARS 40,971 million, compared to a profit of ARS 319,226 million in the prior year [3][4]. - Earnings per Share (EPS) were reported at (54.19), a significant decline from 412.55 in the same period of FY 2024 [3]. Operational Highlights - Real tenant sales in shopping malls increased by 21.4% compared to the previous quarter but decreased by 8.5% compared to the same period of FY 2024 [4]. - The adjusted EBITDA for the shopping mall segment was ARS 94,539 million, only 2.0% lower than the same period last year [4]. - The company acquired a new shopping mall, "Terrazas de Mayo," for USD 27.75 million, with a leasable area of 33,700 sqm and 86 stores [4]. - The premium office portfolio achieved 100% occupancy, and an additional floor of the Della Paolera 261 building was sold for USD 7.1 million [4]. - The Hotels segment experienced lower revenues and occupancy rates compared to FY 2024, attributed to the appreciation of the Argentine peso against the U.S. dollar [4]. - Sale agreements were signed for two lots of the Ramblas del Plata project, with an estimated saleable area of 40,000 sqm for USD 23.4 million [4]. Market Capitalization - As of December 31, 2024, the company's market capitalization was approximately USD 1,117 million, based on 74,829,790 GDS with a price per GDS of USD 14.93 [5].