IRSA Inversiones y Representaciones SA

F:IRY

Strong Performance: The company reported a solid third quarter, highlighting improved financial and operational results across its business segments.

Shopping Center Recovery: Occupancy in malls rose to nearly 97%, with tenant sales up almost 10% year-over-year and 33% above pre-pandemic levels.

Office Portfolio Update: Premium office occupancy reached 100% in key properties, and 7 floors in 200 Della Paolera were sold at high prices.

Deleveraging Complete: All outstanding bonds were canceled, and new bonds issued, resulting in an improved AA+ credit rating and a significant reduction in net debt.

Dividend Payment: A dividend with a 13% yield was paid, totaling $124 million for the fiscal year, representing nearly 70% of EBITDA.

Hotel Segment Growth: Hotel occupancy and rates increased, with Buenos Aires hotels at 63% occupancy and some properties reaching up to 83%.

Legal Clearance for Development: The Costa Urbana project received legal clearance and is ready to proceed with construction.