IRSA Inversiones y Representaciones S.A announces results for the first quarter of the Fiscal Year 2023 ended September 30, 2022.

BUENOS AIRES, Argentina: IRSA Inversiones y Representaciones S.A. (NYSE: IRS, BYMA: IRSA), Argentina's largest, most well-diversified real estate company, cordially invites you to participate in its IQ FY 2023 Results Conference Call on Thursday, November 10, 2022, at 10:00 AM US Eastern Time / 12:00 PM BA Time.

HIGHLIGHTS

The net result for the first quarter of fiscal year 2023 registered a gain of ARS 1,297 million compared to a loss of ARS 1,855 million in the previous fiscal year.

The rental adjusted EBITDA reached ARS 5,796 million, ARS 4,575 million in the Shopping Malls segment, ARS 562 million in the Offices segment and ARS 659 million in the Hotels segment, 46.6% higher than the first quarter of the previous year. Total adjusted EBITDA, which includes the sale of one floor of "200 Della Paolera" building, reached ARS 6,696 million, increasing 93.9% in the period.

Real tenant sales in shopping malls grew by 21.9% in the first quarter of 2023 compared to the same period in 2020, not affected by the pandemic. Portfolio occupancy grew slightly to 93.7%.

The hotel segment registered record revenue levels during the first quarter of fiscal year 2023, motivated by the Llao Llao resort, in the city of Bariloche. The EBITDA of the segment increased by 357.6% compared to the same period of 2022.

During the period, we finalized the share repurchase plan launched in the previous fiscal year. The company acquired 1.16% of the capital stock for the sum of ARS 995 million.

Since November 8th, 2022, the Company made available to its shareholders a cash dividend for ARS 4,340 million, equivalent to ARS/share 5.41438 and ARS/ADR 54.1438.

Financial Highlights

(In millions of Argentine Pesos)

3M FY 2023

Income Statement

09/30/2022

09/30/2021

Revenues

11,667

8,020

Consolidated Gross Profit

7,403

4,810

Net result from changes in the fair value of investment properties

(6,629)

(11,887)

Consolidated Loss from Operations

(1,057)

(8,933)

Result for the Period

1,297

(1,855)

Attributable to:

IRSA's Shareholders

1,162

(1,097)

Non-Controlling interest

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