IRSA Inversiones y Representaciones SA · BCBA:IRSA.CI
IRSA Inversiones y Representaciones SA — Q1 FY2023 Earnings Presentation
15 slides from IRSA Inversiones y Representaciones SA's earnings presentation, Nov 10, 2022
Slide 1: IQ 2023 Conference Call
IQ 2023 CONFERENCE CALL November 10, 2022 Hosted by: Matias Gaivironsky, CFO Jorge Cruces, CIO Santiago Donato, IRO
Slide 2: Main Events for IQ 2023 and Subsequent
MAIN EVENTS FOR IQ 2023 AND SUBSEQUENT 1 STRONG OPERATIONAL PERFORMANCE 2 MALLS’ TENANT SALES GROWTH AND HIGHER MARGINS 3 HOTELS’ RECORD EBITDA (BOOSTED BY LLAO LLAO) 4 200 DELLA PAOLERA FLOOR SALE AT ATTRACTIVE PRICE 5 DELEVERAGE PROCESS CONTINUED DURING THE QUARTER 6 IRCP23 NOTES EXCHANGE OFFER 7
Slide 3: Shopping Malls Operating Figures
SHOPPING MALLS OPERATING FIGURES STOCK & PORTFOLIO OCCUPANCY SAME SHOPPING MALLS SALES (ABL: m2) IN REAL TERMS +21.9% 94.3% 92.8% 93.7% 89.6% 85,461 335,641 336,240 70,087 IQ20 333,345 IQ21 IQ22 IQ23 62,594 332,277 14,436 IQ20 IQ21 IQ22 IQ23 IQ20 IQ21 IQ22 IQ23 EXPANSIONS 3 + COVID IMPACT + 4,000 sq
Slide 4: Office Buildings Operating Figures
OFFICE BUILDINGS OPERATING FIGURES STOCK OCCUPANCY BY CLASS (ABL: m2) A+ 85.5% 82.0% & A 78.9% 76.7% 74.6% Impact of Suipacha building (empty) Bouchard B 41.1% 710 30.9% 30.9% 33.5% 200 Della República 24.9% IQ 22 IIQ 22 IIIQ 22 IVQ 22 IQ23 Paolera 115,640 200 LEASES 113,451 Della (USD/sqm/month) Bo
Slide 5: Hotels Operating Figures
HOTELS OPERATING FIGURES HOTELS – Portfolio rate & occupancy BA HOTELS – Rate & occupancy (USD/room & %) (USD/room & %) 62.3% 54.8% 61.6% 62.7% 10.9% 243 119 94 0.8% 84 109 227 IQ20 IQ21 IQ22 IQ23 PANDEMIC LOCKDOWN 163 LLAO LLAO – Rate & occupancy (USD/room & %) 82.6% 95 21.0% 59.9% 46.4% 336 406 0.
Slide 6: IQ23 - Real Estate Transactions
IQ23 - REAL ESTATE TRANSACTIONS SALES 1 floor COSTA URBANA PROGRESS 200 DELLA 1,184 895,000 GLA sqm sqm PAOLERA Future mixed – use development USD 12.6 mm Working to fulfill all the administrative and governmental Price requirements 10,600 USD/sqm BARTER AGREEMENT USD 2.0 mm Price 16% of the residen
Slide 7: Financial Results
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Slide 8: FX & Inflation Evolution
FX & INFLATION EVOLUTION Nominal Official FX Evolution Nominal MEP FX Evolution 302,48 18% 147,32 21% 249,59 125,23 3% 98,74 7% 176,63 95,72 Inflation index Evolution 164,82 FY23 FY222 FY23 FY22 967,3 22% Beginning IQ Beginning IQ 793 9% 528,5 Real MEP FX Evolution Real Official FX Evolution 483,6 -
Slide 9: IQ23 – Operating Results by Segment
IQ23 – OPERATING RESULTS BY SEGMENT ADJUSTED EBITDA RENTAL ADJ. EBITDA MARGINS A RS M I L L I O N Shopping Malls Offices +93.8% 6,696 Hotels IQ 23 IQ 22 Var S&D + Others +357.6% 659 Shopping 562 Malls 75.8% 67.7% +8.1 pp 3,453 -46.6% 144 Rental 1,053 EBITDA Offices 81.9% 81.3% +0.6 pp 5,796 +66.0% 4
Slide 10: IQ23 - Consolidated Operating Results
IQ23 - CONSOLIDATED OPERATING RESULTS OPERATING INCOME (EXC. FV) FAIR VALUE OF INVESTMENT PROPERTIES A RS M I L L I O N A RS M I L L I O N +88.6% 5,572 2,954 -6,629 -11,887 -44.2% IQ22 IQ23 IQ22 IQ23 10
Slide 11: IQ23 - Consolidated Financial Results
IQ23 - CONSOLIDATED FINANCIAL RESULTS NET FINANCIAL RESULTS NET RESULT A RS M I L L I O N A RS M I L L I O N Controlling Interest Not Controlling Interest +2.4% 2,847 2,916 1,297 135 1,162 IQ22 IQ23 -1,097 Main effects IQ 22 IQ 23 Var Inflation Adjustment 622 4,490 +3,868 -758 Net interest -2,911 -1
Slide 12: Rental EBITDA Evolution by Segment
RENTAL EBITDA EVOLUTION BY SEGMENT USD MILLION QUARTERLY ANNUAL Shopping Malls Offices 131 Reach pre-pandemic levels 134 38 39 11,7 Hotels 12 115 33 1,8 4,5 8 15,8 30 6,9 3,8 26 95 3,0 18 2,6 5,2 9 2,2 22 28 0,8 15 17 5,7 0,8 44 106,2 4,2 5,3 29,5 31,1 93 0 89 8 25,1 25,1 58 25 5,2 15,5 12,3 11,4 4,
Slide 13: Debt Profile
DEBT PROFILE SEPTEMBER 30, 2022 - USD MILLION 1.3x NET DEBT / EBITDA LTM 461.1 GROSS DEBT 2.3x NET DEBT / RENTAL EBITDA LTM 12.2% LTV NET DEBT EVOLUTION*: AMORTIZATION SCHEDULE: 755 -59% 204,6 640 574 Cash: 154.6 121 Series II 112,9 323 307 IRCP23 42,1 46,8 27,3 27,3 FY 19 FY 20 FY 21 FY 22 IQ 23 FY
Slide 14: Shares Repurchase Plan & Dividend Approved
SHARES REPURCHASE PLAN & DIVIDEND APPROVED ✓ Maximum amount to invest: up to ARS 1,000 million DIVIDEND DISTRIBUTION ✓ Payable Price: up to ARS 140 per share and up to USD 7 per ADS Approved by the Annual Shareholders´ Meeting held on October 28th, 2022 ✓ Period: from March until July 2022 (120 days
Slide 15: Contact Information
CONTACT INFORMATION EDUARDO ELSZTAIN – Chairman & CEO NYSE Symbol: IRS www.irsa.com.ar MATÍAS GAIVIRONSKY – CFO BYMA Symbol: IRSA Contact e-mail: [email protected] SANTIAGO DONATO – IRO Follow us on Twitter Tel +(54 11) 4323 7449 @irsair Independent Auditors Corporate Offices PricewaterhouseCoopers Car
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