Type of
stock
|
CAPITAL STATUS
|
|
Shares
authorized for Public Offering (2)
|
Subscribed,
issued and paid-upnominal value
(in
millions of Pesos)
|
|
Common
stock with a face value of ARS 1 per share and entitled to 1 vote
each
|
810,895,390
|
811
|
Glossary
....
|
1
|
Unaudited
Condensed Interim Consolidated Statements of Financial
Position
|
2
|
3
|
|
Unaudited
Condensed Interim Consolidated Statements of Changes in
Shareholders’ Equity
|
4
|
Unaudited
Condensed Interim Consolidated Statements of Cash
Flows
|
6
|
Notes
to the Unaudited Condensed Interim Consolidated Financial
Statements:
|
|
Note 1
– The Group’s business and general
information
|
7
|
Note 2
– Summary of significant accounting
policies
|
7
|
Note 3
– Seasonal effects on operations
|
8
|
Note 4
– Acquisitions and disposals
|
9
|
Note 5
– Financial risk management and fair value
estimates
|
9
|
Note 6
– Segment information
|
9
|
Note 7
– Investments in associates and joint
ventures
|
11
|
Note 8
– Investment properties
|
12
|
Note 9
– Property, plant and equipment
|
14
|
Note 10
– Trading properties
|
14
|
Note 11
– Intangible assets
|
15
|
Note 12
– Right-of-use assets
|
15
|
Note 13
– Financial instruments by category
|
16
|
Note 14
– Trade and other receivables
|
17
|
Note 15
– Cash flow information
|
18
|
Note 16
– Trade and other payables
|
19
|
Note 17
– Borrowings
|
19
|
Note 18
– Provisions
|
20
|
Note 19
– Taxes
|
21
|
Note 20
– Revenues
|
23
|
Note 21
– Expenses by nature
|
23
|
Note 22
– Cost of goods sold and services provided
|
23
|
Note 23
– Other operating results, net
|
24
|
Note 24
– Financial results, net
|
24
|
Note 25
– Related party transactions
|
25
|
Note 26
– CNV General Resolution N° 622
|
27
|
Note 27
– Foreign currency assets and liabilities
|
27
|
Note 28
– Other significant events of the period
|
28
|
Note 29
– Subsequent Events
|
28
|
Terms
|
|
Definitions
|
BACS
|
|
Banco
de Crédito y Securitización S.A.
|
BHSA
|
|
Banco
Hipotecario S.A.
|
Celap
|
|
Centro
de Entretenimientos La Plata S.A.
|
CNV
|
|
Securities
Exchange Commission
|
Condor
|
|
Condor
Hospitality Trust Inc.
|
CPF
|
|
Collective
Promotion Funds
|
Cresud
|
|
Cresud
S.A.C.I.F. y A.
|
Financial
Statements
|
|
Unaudited
Condensed Interim Consolidated Financial Statements
|
Annual
Financial Statements
|
|
Consolidated
Financial Statements as of June 30, 2022
|
IAS
|
|
International
Accounting Standards
|
IASB
|
|
International
Accounting Standards Board
|
IFRS
|
|
International
Financial Reporting Standards
|
IRSA,
The Company”, “Us”, “We”
|
|
IRSA
Inversiones y Representaciones Sociedad Anónima
|
IRSA
CP
|
|
IRSA
Propiedades Comerciales S.A.
|
GCDI
|
|
GCDI
S.A.
|
MPIT
|
|
Minimum
presumed income tax
|
NCN
|
|
Non-convertible
notes
|
New
Lipstick
|
|
New
Lipstick LLC
|
Puerto
Retiro
|
|
Puerto
Retiro S.A.
|
TGLT
|
|
TGLT
S.A.
|
Zetol
|
|
Zetol
S.A.
|
|
|
|
|
Note
|
12.31.2022
|
06.30.2022
|
ASSETS
|
|
|
|
Non-current assets
|
|
|
|
Investment
properties
|
8
|
391,197
|
419,617
|
Property,
plant and equipment
|
9
|
9,066
|
11,431
|
Trading
properties
|
10,
22
|
4,359
|
4,351
|
Intangible
assets
|
11
|
5,054
|
4,834
|
Right-of-use
assets
|
12
|
1,723
|
1,777
|
Investments
in associates and joint ventures
|
7
|
24,200
|
23,083
|
Deferred
income tax assets
|
19
|
125
|
109
|
Income
tax credit
|
|
14
|
34
|
Trade
and other receivables
|
14
|
5,764
|
6,204
|
Investments
in financial assets
|
13
|
1,327
|
1,226
|
Total non-current assets
|
|
442,829
|
472,666
|
Current assets
|
|
|
|
Trading
properties
|
10,
22
|
86
|
276
|
Inventories
|
22
|
200
|
179
|
Income
tax credit
|
|
111
|
77
|
Trade
and other receivables
|
14
|
17,080
|
15,496
|
Investments
in financial assets
|
13
|
23,242
|
26,382
|
Derivative
financial instruments
|
13
|
7
|
-
|
Cash
and cash equivalents
|
13
|
5,677
|
18,279
|
Total current assets
|
|
46,403
|
60,689
|
TOTAL ASSETS
|
|
489,232
|
533,355
|
SHAREHOLDERS’ EQUITY
|
|
|
|
Shareholders'
equity attributable to equity holders of the parent (according to
corresponding statement)
|
|
234,326
|
227,271
|
Non-controlling
interest
|
|
15,769
|
15,557
|
TOTAL SHAREHOLDERS’ EQUITY
|
|
250,095
|
242,828
|
LIABILITIES
|
|
|
|
Non-current liabilities
|
|
|
|
Borrowings
|
17
|
42,895
|
18,674
|
Lease
liabilities
|
|
1,522
|
1,642
|
Deferred
income tax liabilities
|
19
|
129,170
|
141,053
|
Trade
and other payables
|
16
|
5,429
|
5,089
|
Provisions
|
18
|
3,705
|
280
|
Salaries
and social security liabilities
|
|
87
|
133
|
Total non-current liabilities
|
|
182,808
|
166,871
|
Current liabilities
|
|
|
|
Borrowings
|
17
|
42,138
|
88,249
|
Lease
liabilities
|
|
232
|
114
|
Trade
and other payables
|
16
|
11,948
|
12,195
|
Income
tax liabilities
|
|
864
|
21,629
|
Provisions
|
18
|
230
|
283
|
Derivative
financial instruments
|
13
|
-
|
23
|
Salaries
and social security liabilities
|
|
917
|
1,163
|
Total current liabilities
|
|
56,329
|
123,656
|
TOTAL LIABILITIES
|
|
239,137
|
290,527
|
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES
|
|
489,232
|
533,355
|
|
..
AlejandroG. Elsztain
Vice President II
|
|
|
Six months
|
Three months
|
||
|
Note
|
12.31.2022
|
12.31.2021
|
12.31.2022
|
12.31.2021
|
Revenues
|
20
|
30,890
|
21,527
|
17,205
|
12,120
|
Costs
|
21,
22
|
(10,479)
|
(8,212)
|
(5,478)
|
(4,447)
|
Gross profit
|
|
20,411
|
13,315
|
11,727
|
7,673
|
Net
(loss) / gain from fair value adjustment of investment
properties
|
8
|
(29,530)
|
43,731
|
(21,755)
|
57,674
|
General
and administrative expenses
|
21
|
(3,948)
|
(3,689)
|
(2,156)
|
(2,107)
|
Selling
expenses
|
21
|
(1,294)
|
(1,636)
|
(716)
|
(911)
|
Other
operating results, net
|
23
|
(3,061)
|
(79)
|
(3,284)
|
(209)
|
(Loss) / profit from operations
|
|
(17,422)
|
51,642
|
(16,184)
|
62,120
|
Share
of profit / (loss) of associates and joint ventures
|
7
|
1,318
|
(234)
|
196
|
98
|
(Loss) / profit before financial results and income
tax
|
|
(16,104)
|
51,408
|
(15,988)
|
62,218
|
Finance
income
|
24
|
269
|
307
|
200
|
174
|
Finance
costs
|
24
|
(5,174)
|
(7,513)
|
(3,006)
|
(3,621)
|
Other
financial results
|
24
|
2,545
|
14,914
|
2,293
|
8,545
|
Inflation
adjustment
|
24
|
8,616
|
837
|
3,350
|
107
|
Financial results, net
|
|
6,256
|
8,545
|
2,837
|
5,205
|
(Loss) / profit before income tax
|
|
(9,848)
|
59,953
|
(13,151)
|
67,423
|
Income
tax
|
19
|
25,284
|
(10,241)
|
27,066
|
(15,536)
|
Profit for the period
|
|
15,436
|
49,712
|
13,915
|
51,887
|
Other comprehensive income:
|
|
|
|
|
|
Items that may be reclassified subsequently to profit or
loss:
|
|
|
|
|
|
Currency
translation adjustment
|
|
(395)
|
(845)
|
(90)
|
(494)
|
Revaluation
surplus
|
|
(175)
|
-
|
(175)
|
-
|
Total other comprehensive loss for the period
|
|
(570)
|
(845)
|
(265)
|
(494)
|
Total comprehensive income for the period
|
|
14,866
|
48,867
|
13,650
|
51,393
|
|
|
|
|
|
|
Profit / (loss) for the period attributable to:
|
|
|
|
|
|
Equity
holders of the parent
|
|
15,090
|
50,105
|
13,727
|
51,392
|
Non-controlling
interest
|
|
346
|
(393)
|
188
|
495
|
|
|
|
|
|
|
Total comprehensive income / (loss) attributable to:
|
|
|
|
|
|
Equity
holders of the parent
|
|
14,518
|
49,285
|
13,443
|
50,920
|
Non-controlling
interest
|
|
348
|
(418)
|
205
|
472
|
|
|
|
|
|
|
Profit per share attributable to equity holders of the parent:
(i)
|
|
|
|
|
|
Basic
|
|
18.85
|
61.94
|
17.14
|
63.53
|
Diluted
|
|
16.92
|
56.25
|
15.39
|
57.69
|
|
..
AlejandroG. Elsztain
Vice President II
|
|
Attributable to equity holders of the parent
|
|
|
||||||||||
|
Share capital
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding shares
|
Treasury shares
|
Inflation adjustment of share capital and treasury shares
(i)
|
Warrants (iii)
|
Share premium
|
Additional paid-in capital from treasury shares
|
Legal reserve
|
Special reserve Resolution CNV 609/12 (ii)
|
Other reserves (v)
|
Retained earnings
|
Subtotal
|
Non-controlling interest
|
Total Shareholders’ equity
|
Balance as of July 1, 2022
|
805
|
6
|
49,409
|
4,171
|
94,303
|
348
|
4,461
|
33,130
|
(8,946)
|
49,584
|
227,271
|
15,557
|
242,828
|
Profit
for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
15,090
|
15,090
|
346
|
15,436
|
Other
comprehensive (loss) / income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(572)
|
-
|
(572)
|
2
|
(570)
|
Total comprehensive (loss) / income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(572)
|
15,090
|
14,518
|
348
|
14,866
|
Assignment
of results according to A.G.O.
|
-
|
-
|
-
|
-
|
-
|
-
|
2,201
|
-
|
36,723
|
(38,924)
|
-
|
-
|
-
|
Warrants
exercise (iii)
|
-
|
-
|
-
|
(1)
|
3
|
-
|
-
|
-
|
-
|
-
|
2
|
-
|
2
|
Repurchase
of treasury shares (iv)
|
(5)
|
5
|
-
|
-
|
-
|
-
|
-
|
-
|
(807)
|
-
|
(807)
|
-
|
(807)
|
Dividends
distribution
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(6,209)
|
(6,209)
|
(152)
|
(6,361)
|
Other
changes in equity
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(433)
|
-
|
(433)
|
-
|
(433)
|
Reserve
for share-based payments
|
-
|
-
|
-
|
-
|
-
|
(3)
|
-
|
-
|
3
|
-
|
-
|
-
|
-
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(16)
|
-
|
(16)
|
16
|
-
|
Balance as of December 31, 2022
|
800
|
11
|
49,409
|
4,170
|
94,306
|
345
|
6,662
|
33,130
|
25,952
|
19,541
|
234,326
|
15,769
|
250,095
|
|
Cost of treasury stock
|
Reserve for future dividends
|
Currency translation adjustment reserve
|
Special reserve
|
Other reserves (1)
|
Total Other reserves
|
Balance as of July 1, 2022
|
(1,064)
|
5,963
|
721
|
1,913
|
(16,479)
|
(8,946)
|
Other
comprehensive loss for the period
|
-
|
-
|
(397)
|
-
|
(175)
|
(572)
|
Total comprehensive loss for the period
|
-
|
-
|
(397)
|
-
|
(175)
|
(572)
|
Repurchase
of treasury shares
|
(807)
|
-
|
-
|
-
|
-
|
(807)
|
Assignment
of results according to A.G.O.
|
-
|
-
|
-
|
36,723
|
-
|
36,723
|
Other
changes in equity
|
-
|
-
|
(433)
|
-
|
-
|
(433)
|
Reserve
for share-based payments
|
4
|
-
|
-
|
-
|
(1)
|
3
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
(16)
|
(16)
|
Balance as of December 31, 2022
|
(1,867)
|
5,963
|
(109)
|
38,636
|
(16,671)
|
25,952
|
|
..
AlejandroG. Elsztain
Vice President II
|
|
Attributable to equity holders of the parent
|
|
|
||||||||||
|
Share capital
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding shares
|
Treasury shares
|
Inflation adjustment of share capital and treasury shares
(i)
|
Warrants
|
Share premium
|
Additional paid-in capital from treasury shares
|
Legal reserve
|
Special reserve Resolution CNV 609/12 (ii)
|
Other reserves (iii)
|
Retained earnings
|
Subtotal
|
Non-controlling interest
|
Total Shareholders’ equity
|
Balance as of July 1, 2021
|
657
|
2
|
49,265
|
4,174
|
56,564
|
347
|
3,762
|
33,130
|
64,030
|
(66,867)
|
145,064
|
49,014
|
194,078
|
Profit
/ (loss) for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
50,105
|
50,105
|
(393)
|
49,712
|
Other
comprehensive loss for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(820)
|
-
|
(820)
|
(25)
|
(845)
|
Total comprehensive (loss) / income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(820)
|
50,105
|
49,285
|
(418)
|
48,867
|
Assignment
of results according to A.G.O.
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(72,009)
|
72,009
|
-
|
-
|
-
|
Warrants
exercise
|
-
|
-
|
-
|
(2)
|
8
|
-
|
-
|
-
|
-
|
-
|
6
|
-
|
6
|
Capitalization
of irrevocable contributions
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
33
|
33
|
Dividends
distribution
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(58)
|
(58)
|
Incorporated
by merger
|
152
|
-
|
144
|
-
|
38,002
|
-
|
699
|
-
|
(922)
|
(4,985)
|
33,090
|
(33,090)
|
-
|
Balance as of December 31, 2021
|
809
|
2
|
49,409
|
4,172
|
94,574
|
347
|
4,461
|
33,130
|
(9,721)
|
50,262
|
227,445
|
15,481
|
242,926
|
|
Cost of treasury stock
|
Reserve for future dividends
|
Currency translation adjustment reserve
|
Special reserve
|
Other reserves (1)
|
Total Other reserves
|
Balance as of July 1, 2021
|
(600)
|
5,963
|
1,519
|
73,922
|
(16,774)
|
64,030
|
Other
comprehensive loss for the period
|
-
|
-
|
(820)
|
-
|
-
|
(820)
|
Total comprehensive loss for the period
|
-
|
-
|
(820)
|
-
|
-
|
(820)
|
Assignment
of results according to A.G.O.
|
-
|
-
|
-
|
(72,009)
|
-
|
(72,009)
|
Incorporated
by merger
|
-
|
-
|
(27)
|
-
|
(895)
|
(922)
|
Balance as of December 31, 2021
|
(600)
|
5,963
|
672
|
1,913
|
(17,669)
|
(9,721)
|
|
..
AlejandroG. Elsztain
Vice President II
|
|
Note
|
12.31.2022'
|
12.31.2021'
|
Operating activities:
|
|
|
|
Net
cash generated from operations before income tax paid
|
15
|
11,124
|
9,348
|
Income
tax paid
|
|
(484)
|
(208)
|
Net cash generated from operating activities
|
|
10,640
|
9,140
|
Investing activities:
|
|
|
|
Contributions
and issuance of capital in associates and joint
ventures
|
|
-
|
(58)
|
Acquisition
and improvements of investment properties
|
|
(1,323)
|
(2,823)
|
Proceeds
from sales of investment properties
|
|
2,128
|
8,982
|
Acquisitions
and improvements of property, plant and equipment
|
|
(234)
|
(259)
|
Proceeds
from sales of property, plant and equipment
|
|
9
|
-
|
Acquisitions
of intangible assets
|
|
(40)
|
(8)
|
Dividends
collected from associates and joint ventures
|
|
212
|
5,131
|
Proceeds
from loans granted
|
|
-
|
651
|
Payment
of derivative financial instruments
|
|
(10)
|
(80)
|
Acquisitions
of investments in financial assets
|
|
(7,505)
|
(2,686)
|
Proceeds
from disposal of investments in financial assets
|
|
10,029
|
2,843
|
Interest
collected
|
|
105
|
230
|
Proceeds
from sales of intangible assets
|
|
-
|
483
|
Net cash generated from investing activities
|
|
3,371
|
12,406
|
Financing activities:
|
|
|
|
Borrowings
and issuance of non-convertible notes
|
|
2
|
13,254
|
Payment
of borrowings and non-convertible notes
|
|
(13,684)
|
(11,047)
|
Payment
of short-term loans, net
|
|
(3,221)
|
(1,005)
|
Interests
paid
|
|
(4,739)
|
(7,030)
|
Repurchase
of non-convertible notes
|
|
-
|
(5,378)
|
Proceeds
from warrants exercise
|
|
2
|
6
|
Loans
received from associates and joint ventures, net
|
|
5
|
-
|
Payment
of borrowings to related parties
|
|
(18)
|
(582)
|
Sale
of non-convertible notes in portfolio
|
|
443
|
-
|
Dividends
paid
|
|
(4,308)
|
-
|
Payment
of lease liabilities
|
|
(12)
|
(25)
|
Repurchase
of treasury shares
|
|
(807)
|
-
|
Net
proceeds from derivative financial instrument
|
|
-
|
(62)
|
Net cash used in financing activities
|
|
(26,337)
|
(11,869)
|
Net
(decrease) / increase in cash and cash equivalents
|
|
(12,326)
|
9,677
|
Cash and cash
equivalents at beginning of period
|
|
18,279
|
4,531
|
Inflation
adjustment
|
|
(227)
|
(92)
|
Foreign
exchange (loss) / gain on cash and changes in fair value for cash
equivalents
|
|
(49)
|
35
|
Cash and cash equivalents at end of period
|
13
|
5,677
|
14,151
|
|
..
AlejandroG. Elsztain
Vice President II
|
|
As of
December 31, 2022 (accumulated sixmonths)
|
Price
variation
|
43%
|
|
Six months ended December 31, 2022
|
||||
|
Total
|
Joint ventures (1)
|
Expensesand collectivepromotion funds
|
Elimination of inter-segment transactions and non-reportable assets
/ liabilities (2)
|
Total as per statement of income and other comprehensive income /
statement of financial position
|
Revenues
|
24,916
|
(138)
|
6,112
|
-
|
30,890
|
Costs
|
(4,315)
|
63
|
(6,227)
|
-
|
(10,479)
|
Gross profit / (loss)
|
20,601
|
(75)
|
(115)
|
-
|
20,411
|
Net
loss from fair value adjustment of investment
properties
|
(30,222)
|
692
|
-
|
-
|
(29,530)
|
General
and administrative expenses
|
(3,984)
|
20
|
-
|
16
|
(3,948)
|
Selling
expenses
|
(1,303)
|
9
|
-
|
-
|
(1,294)
|
Other
operating results, net
|
(3,086)
|
(14)
|
55
|
(16)
|
(3,061)
|
Loss from operations
|
(17,994)
|
632
|
(60)
|
-
|
(17,422)
|
Share
of profit of associates and joint ventures
|
1,737
|
(419)
|
-
|
-
|
1,318
|
Segment loss
|
(16,257)
|
213
|
(60)
|
-
|
(16,104)
|
Reportable
assets
|
436,559
|
(2,641)
|
-
|
55,314
|
489,232
|
Reportable
liabilities
|
-
|
-
|
-
|
(239,137)
|
(239,137)
|
Net reportable assets
|
436,559
|
(2,641)
|
-
|
(183,823)
|
250,095
|
|
Six months ended December 31, 2021
|
||||
|
Total
|
Joint ventures (1)
|
Expensesand collectivepromotion funds
|
Elimination of inter-segment transactions and non-reportable assets
/ liabilities (2)
|
Total as per statement of income and other comprehensive income /
statement of financial position
|
Revenues
|
17,173
|
(123)
|
4,506
|
(29)
|
21,527
|
Costs
|
(3,625)
|
64
|
(4,651)
|
-
|
(8,212)
|
Gross profit / (loss)
|
13,548
|
(59)
|
(145)
|
(29)
|
13,315
|
Net
gain / (loss) from fair value adjustment of investment
properties
|
43,602
|
129
|
-
|
-
|
43,731
|
General
and administrative expenses
|
(3,746)
|
10
|
-
|
47
|
(3,689)
|
Selling
expenses
|
(1,629)
|
(7)
|
-
|
-
|
(1,636)
|
Other
operating results, net
|
(117)
|
-
|
56
|
(18)
|
(79)
|
Profit / (loss) from operations
|
51,658
|
73
|
(89)
|
-
|
51,642
|
Share
of (loss) / profit of associates and joint ventures
|
(152)
|
(82)
|
-
|
-
|
(234)
|
Segment profit / (loss)
|
51,506
|
(9)
|
(89)
|
-
|
51,408
|
Reportable
assets
|
513,155
|
(3,448)
|
-
|
51,911
|
561,618
|
Reportable
liabilities
|
-
|
-
|
-
|
(318,693)
|
(318,693)
|
Net reportable assets
|
513,155
|
(3,448)
|
-
|
(266,782)
|
242,925
|
|
Six months ended December 31, 2022
|
|||||
|
Shopping Malls
|
Offices
|
Sales and developments
|
Hotels
|
Others
|
Total
|
Revenues
|
15,793
|
1,635
|
2,172
|
4,971
|
345
|
24,916
|
Costs
|
(1,021)
|
(127)
|
(499)
|
(2,392)
|
(276)
|
(4,315)
|
Gross profit
|
14,772
|
1,508
|
1,673
|
2,579
|
69
|
20,601
|
Net
loss from fair value adjustment of investment
properties
|
(5,897)
|
(7,934)
|
(16,342)
|
-
|
(49)
|
(30,222)
|
General
and administrative expenses
|
(1,942)
|
(228)
|
(720)
|
(718)
|
(376)
|
(3,984)
|
Selling
expenses
|
(733)
|
(21)
|
(140)
|
(372)
|
(37)
|
(1,303)
|
Other
operating results, net
|
115
|
(14)
|
(3)
|
(24)
|
(3,160)
|
(3,086)
|
Profit / (loss) from operations
|
6,315
|
(6,689)
|
(15,532)
|
1,465
|
(3,553)
|
(17,994)
|
Share
of profit of associates and joint ventures
|
-
|
-
|
-
|
-
|
1,737
|
1,737
|
Segment profit / (loss)
|
6,315
|
(6,689)
|
(15,532)
|
1,465
|
(1,816)
|
(16,257)
|
|
|
|
|
|
|
|
Investment
properties and trading
properties
|
125,452
|
90,472
|
187,589
|
-
|
564
|
404,077
|
Investment
in associates and joint ventures
|
-
|
-
|
-
|
-
|
18,255
|
18,255
|
Other
operating assets
|
381
|
1,227
|
4,601
|
5,923
|
2,095
|
14,227
|
Operating assets
|
125,833
|
91,699
|
192,190
|
5,923
|
20,914
|
436,559
|
|
Six months ended December 31, 2021
|
|||||
|
Shopping Malls
|
Offices
|
Sales and developments
|
Hotels
|
Others
|
Total
|
Revenues
|
11,668
|
2,347
|
390
|
2,694
|
74
|
17,173
|
Costs
|
(1,140)
|
(214)
|
(353)
|
(1,523)
|
(395)
|
(3,625)
|
Gross profit / (loss)
|
10,528
|
2,133
|
37
|
1,171
|
(321)
|
13,548
|
Net
(loss) / gain from fair value adjustment of investment
properties
|
(11,530)
|
1,200
|
53,757
|
-
|
175
|
43,602
|
General
and administrative expenses
|
(1,681)
|
(520)
|
(806)
|
(501)
|
(238)
|
(3,746)
|
Selling
expenses
|
(651)
|
(169)
|
(542)
|
(238)
|
(29)
|
(1,629)
|
Other
operating results, net
|
(136)
|
(8)
|
(144)
|
(8)
|
179
|
(117)
|
(Loss) / profit from operations
|
(3,470)
|
2,636
|
52,302
|
424
|
(234)
|
51,658
|
Share
of loss of associates and joint ventures
|
-
|
-
|
-
|
-
|
(152)
|
(152)
|
Segment (loss) / profit
|
(3,470)
|
2,636
|
52,302
|
424
|
(386)
|
51,506
|
|
|
|
|
|
|
|
Investment
properties and trading
properties
|
118,214
|
159,577
|
201,500
|
-
|
731
|
480,022
|
Investment
in associates and joint ventures
|
-
|
-
|
-
|
-
|
16,277
|
16,277
|
Other
operating assets
|
526
|
4,814
|
4,609
|
5,926
|
981
|
16,856
|
Operating assets
|
118,740
|
164,391
|
206,109
|
5,926
|
17,989
|
513,155
|
|
|
|
|
|
|
|
|
December 31, 2022
|
June 30, 2022
|
Beginning of the period / year
|
23,072
|
28,523
|
Increase
of equity interest and capital contributions
|
-
|
1,481
|
Share
of profit / (loss)
|
1,318
|
(508)
|
Currency
translation adjustment
|
22
|
(677)
|
Dividends
|
(212)
|
(5,131)
|
Others
|
-
|
(616)
|
End of the period / year (i)
|
24,200
|
23,072
|
|
% ownership interest
|
Value of Group's interest in equity
|
Group's interest in comprehensive income / (loss)
|
|||
Name of the entity
|
December 31, 2022
|
June 30, 2022
|
December 31, 2022
|
June 30, 2022
|
December 31, 2022
|
December 31, 2021
|
Associates
|
|
|
|
|
|
|
New
Lipstick
|
49.96%
|
49.96%
|
207
|
205
|
2
|
(11)
|
BHSA
|
29.91%
|
29.91%
|
15,077
|
13,828
|
1,250
|
(364)
|
Quality
|
50.00%
|
50.00%
|
5,030
|
5,520
|
(490)
|
(84)
|
La
Rural S.A.
|
50.00%
|
50.00%
|
847
|
348
|
509
|
(9)
|
GCDI
(former TGLT S.A.) (1)
|
27.82%
|
27.82%
|
1,149
|
1,163
|
(14)
|
(160)
|
Other
joint ventures
|
N/A
|
N/A
|
1,890
|
2,008
|
83
|
100
|
Total associates and joint ventures
|
|
|
24,200
|
23,072
|
1,340
|
(528)
|
|
|
|
|
Latest financial statements issued
|
||
Name of the entity
|
Place of business / Country of incorporation
|
Main activity
|
Common shares 1 vote
|
Share capital (nominal value)
|
(Loss) / profit for the period
|
Shareholders’ equity
|
Associates
|
|
|
|
|
|
|
New
Lipstick
|
U.S.
|
Real
estate
|
N/A
|
-
|
(*) (1)
|
(*) (43)
|
BHSA
|
Argentina
|
Financial
|
448,689,072
|
(**) 1,500
|
(**) 4,178
|
(**) 48,889
|
Quality
|
Argentina
|
Real
estate
|
1,421,672,293
|
2,843
|
(979)
|
9,841
|
La
Rural SA
|
Argentina
|
Organization
of events
|
714,998
|
1
|
(39)
|
377
|
GCDI
(former TGLT S.A.) (1)
|
Argentina
|
Real
estate
|
257,330,595
|
915
|
(1,805)
|
4,131
|
|
Six months ended December 31, 2022
|
Year ended June 30, 2022
|
||
|
Nivel 2
|
Nivel 3
|
Nivel 2
|
Nivel 3
|
Fair value at the beginning of the period / year
|
298,385
|
121,232
|
219,576
|
210,117
|
Additions
|
501
|
849
|
10,536
|
2,936
|
Capitalized
leasing costs
|
2
|
14
|
33
|
27
|
Amortization
of capitalized leasing costs (i)
|
(6)
|
(7)
|
(52)
|
(13)
|
Transfers
|
1,351
|
591
|
89,204
|
(90,572)
|
Disposals
|
(2,180)
|
-
|
(41,656)
|
-
|
Currency
translation adjustment
|
(5)
|
-
|
(49)
|
-
|
Net
(loss) / gain from fair value adjustment (ii)
|
(24,309)
|
(5,221)
|
20,793
|
(1,263)
|
Fair value at the end of the period / year
|
273,739
|
117,458
|
298,385
|
121,232
|
|
12.31.2022
|
12.31.2021
|
Shopping
Malls
|
124,561
|
128,966
|
Offices
and other rental properties
|
97,979
|
106,356
|
Undeveloped
parcels of land
|
168,079
|
183,067
|
Properties
under development
|
211
|
811
|
Others
|
367
|
417
|
Total
|
391,197
|
419,617
|
|
|
|
|
12.31.2022
|
12.31.2021
|
Rental
and services income (Note 20)
|
17,795
|
14,082
|
Direct
operating expenses
|
(7,673)
|
(6,411)
|
Development
expenses
|
(77)
|
(164)
|
Net
realized gain from fair value adjustment of investment properties
(i)
|
1,101
|
4,049
|
Net
unrealized (loss) / gain from fair value adjustment of investment
properties
|
(30,631)
|
39,682
|
|
Six months ended December 31, 2022
|
Year ended June 30, 2022
|
|||
|
Buildings and facilities
|
Machinery and equipment
|
Others
|
Total
|
Total
|
Costs
|
19,136
|
5,995
|
1,355
|
26,486
|
23,854
|
Accumulated
depreciation
|
(8,360)
|
(5,657)
|
(1,038)
|
(15,055)
|
(14,127)
|
Net book amount at the beginning of the period / year
|
10,776
|
338
|
317
|
11,431
|
9,727
|
Additions
|
178
|
32
|
24
|
234
|
479
|
Disposals
|
(9)
|
-
|
-
|
(9)
|
(4)
|
Currency
translation adjustment
|
-
|
-
|
-
|
-
|
(4)
|
Transfers
|
(2,128)
|
11
|
-
|
(2,117)
|
2,162
|
Depreciation
charges (i)
|
(334)
|
(110)
|
(29)
|
(473)
|
(929)
|
Balances at the end of the period / year
|
8,483
|
271
|
312
|
9,066
|
11,431
|
Costs
|
17,177
|
6,038
|
1,379
|
24,594
|
26,486
|
Accumulated
depreciation
|
(8,694)
|
(5,767)
|
(1,067)
|
(15,528)
|
(15,055)
|
Net book amount at the end of the period / year
|
8,483
|
271
|
312
|
9,066
|
11,431
|
|
Six months ended December 31, 2022
|
Year ended June 30, 2022
|
|||
|
Completed properties
|
Properties under development
|
Undeveloped sites
|
Total
|
Total
|
Beginning of the period / year
|
284
|
2,331
|
2,012
|
4,627
|
4,125
|
Additions
|
-
|
87
|
83
|
170
|
727
|
Currency
translation adjustment
|
-
|
(43)
|
-
|
(43)
|
(225)
|
Disposals
|
(3)
|
(283)
|
(23)
|
(309)
|
-
|
End of the period / year
|
281
|
2,092
|
2,072
|
4,445
|
4,627
|
Non-current
|
|
|
|
4,359
|
4,351
|
Current
|
|
|
|
86
|
276
|
Total
|
|
|
|
4,445
|
4,627
|
|
Six months ended December 31, 2022
|
Year ended June 30, 2022
|
|||
|
Goodwill
|
Information systems and software
|
Contracts and others
|
Total
|
Total
|
Costs
|
317
|
1,887
|
4,936
|
7,140
|
7,724
|
Accumulated
amortization
|
-
|
(1,582)
|
(724)
|
(2,306)
|
(2,093)
|
Net book amount at the beginning of the period / year
|
317
|
305
|
4,212
|
4,834
|
5,631
|
Additions
|
-
|
40
|
333
|
373
|
147
|
Disposals
|
-
|
-
|
-
|
-
|
(674)
|
Impairment
|
-
|
-
|
-
|
-
|
(57)
|
Amortization
charges (i)
|
-
|
(146)
|
(7)
|
(153)
|
(213)
|
Balances at the end of the period / year
|
317
|
199
|
4,538
|
5,054
|
4,834
|
Costs
|
317
|
1,927
|
5,269
|
7,513
|
7,140
|
Accumulated
amortization
|
-
|
(1,728)
|
(731)
|
(2,459)
|
(2,306)
|
Net book amount at the end of the period / year
|
317
|
199
|
4,538
|
5,054
|
4,834
|
|
December 31, 2022
|
June 30, 2022
|
Real
Estate
|
23
|
24
|
Machinery
and equipment
|
-
|
3
|
Convention
center
|
1,700
|
1,750
|
Total Right-of-use assets
|
1,723
|
1,777
|
Non-current
|
1,723
|
1,777
|
Total
|
1,723
|
1,777
|
|
December 31, 2022
|
December 31, 2021
|
Real
Estate
|
55
|
55
|
Others
|
-
|
14
|
Total depreciation of right-of-use assets (i)
|
55
|
69
|
|
Financial assets at amortized cost
|
Financial assets at fair value through profit or loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
|
|
|
Level 1
|
Level 2
|
|
|
|
December 31, 2022
|
|
|
|
|
|
|
Assets as per Statement of Financial Position
|
|
|
|
|
|
|
Trade
and other receivables (excluding the allowance for doubtful
accounts and other receivables)
|
18,308
|
-
|
-
|
18,308
|
5,507
|
23,815
|
Investments
in financial assets:
|
|
|
|
|
|
|
-
Public companies’ securities
|
-
|
2,340
|
-
|
2,340
|
-
|
2,340
|
-
Mutual funds
|
-
|
16,715
|
-
|
16,715
|
-
|
16,715
|
-
Bonds
|
-
|
4,719
|
-
|
4,719
|
-
|
4,719
|
-
Others
|
410
|
385
|
-
|
795
|
-
|
795
|
Derivative
financial instruments:
|
|
|
|
|
|
|
-
Swaps
|
-
|
-
|
2
|
2
|
-
|
2
|
-
Bond futures
|
-
|
5
|
-
|
5
|
-
|
5
|
Cash
and cash equivalents:
|
|
|
|
|
|
|
-
Cash at bank and on hand
|
3,282
|
-
|
-
|
3,282
|
-
|
3,282
|
-
Short-term investments
|
-
|
2,395
|
-
|
2,395
|
-
|
2,395
|
Total assets
|
22,000
|
26,559
|
2
|
48,561
|
5,507
|
54,068
|
|
Financial liabilities at amortized cost
|
Financial liabilities at fair value through profit or
loss
|
Subtotal financial liabilities
|
Non-financial liabilities
|
Total
|
|
|
|
Level 1
|
Level 2
|
|
|
|
December 31, 2022
|
|
|
|
|
|
|
Liabilities as per Statement of Financial Position
|
|
|
|
|
|
|
Trade
and other payables
|
5,003
|
-
|
-
|
5,003
|
12,374
|
17,377
|
Borrowings
|
85,033
|
-
|
-
|
85,033
|
-
|
85,033
|
Total liabilities
|
90,036
|
-
|
-
|
90,036
|
12,374
|
102,410
|
|
Financial assets at amortized cost
|
Financial assets at fair value through profit or loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
|
|
|
Level 1
|
Level 2
|
|
|
|
June 30, 2022
|
|
|
|
|
|
|
Assets as per Statements of Financial Position
|
|
|
|
|
|
|
Trade
and other receivables (excluding the allowance for doubtful
accounts and other receivables)
|
17,250
|
-
|
-
|
17,250
|
5,671
|
22,921
|
Investments
in financial assets:
|
|
|
|
|
|
|
-
Public companies’ securities
|
-
|
1,926
|
-
|
1,926
|
-
|
1,926
|
-
Mutual funds
|
-
|
19,844
|
-
|
19,844
|
-
|
19,844
|
-
Bonds
|
-
|
5,445
|
-
|
5,445
|
-
|
5,445
|
-
Others
|
14
|
379
|
-
|
393
|
-
|
393
|
Cash
and cash equivalents:
|
|
|
|
|
|
|
-
Cash at bank and on hand
|
14,328
|
-
|
-
|
14,328
|
-
|
14,328
|
-
Short term investments
|
-
|
3,951
|
-
|
3,951
|
-
|
3,951
|
Total assets
|
31,592
|
31,545
|
-
|
63,137
|
5,671
|
68,808
|
|
Financial liabilities at amortized cost
|
Financial liabilities at fair value through profit or
loss
|
Subtotal financial liabilities
|
Non-financial liabilities
|
Total
|
|
|
|
Level 1
|
Level 2
|
|
|
|
June 30, 2022
|
|
|
|
|
|
|
Liabilities as per Statement of Financial Position
|
|
|
|
|
|
|
Trade
and other payables
|
6,352
|
-
|
-
|
6,352
|
10,932
|
17,284
|
Borrowings
|
106,923
|
-
|
-
|
106,923
|
-
|
106,923
|
Derivative
financial instruments:
|
|
|
|
|
|
|
-
Swaps
|
-
|
-
|
23
|
23
|
-
|
23
|
Total liabilities
|
113,275
|
-
|
23
|
113,298
|
10,932
|
124,230
|
Description
|
Pricing model / method
|
Parameters
|
Fair value hierarchy
|
Range
|
|
|
|
|
|
Derivative
financial instruments – Swaps
|
Theoretical
price
|
Underlying
asset price and volatility
|
Level
2
|
-
|
|
December 31, 2022
|
June 30, 2022
|
Sale,
leases and services receivables
|
12,308
|
11,463
|
Less:
Allowance for doubtful accounts
|
(971)
|
(1,221)
|
Total trade receivables
|
11,337
|
10,242
|
Borrowings,
deposits and others
|
6,248
|
6,210
|
Advances
to suppliers
|
1,513
|
1,312
|
Tax
receivables
|
1,247
|
1,338
|
Prepaid
expenses
|
417
|
484
|
Long-term
incentive plan
|
1
|
1
|
Dividends
|
117
|
292
|
Others
|
1,964
|
1,821
|
Total other receivables
|
11,507
|
11,458
|
Total trade and other receivables
|
22,844
|
21,700
|
Non-current
|
5,764
|
6,204
|
Current
|
17,080
|
15,496
|
Total
|
22,844
|
21,700
|
|
December 31, 2022
|
June 30, 2022
|
Beginning of the period / year
|
1,221
|
1,996
|
Additions
(i)
|
72
|
358
|
Recovery
(i)
|
(75)
|
(403)
|
Currency
translation adjustment
|
132
|
104
|
Receivables
written off during the period/year as uncollectible
|
-
|
(17)
|
Inflation
adjustment
|
(379)
|
(817)
|
End of the period / year
|
971
|
1,221
|
|
Note
|
Six months ended December 31, 2022
|
Six months ended December 31, 2021
|
Profit
for the period
|
|
15,436
|
49,712
|
Adjustments
for:
|
|
|
|
Income
tax
|
19
|
(25,284)
|
10,241
|
Amortization
and depreciation
|
21
|
694
|
670
|
Net
loss / (gain) from fair value adjustment of investment
properties
|
|
29,530
|
(43,731)
|
Gain
from disposal of trading properties
|
|
(1,691)
|
-
|
Realization
of currency translation adjustment
|
|
(281)
|
-
|
Net
gain from disposal of intangible assets
|
|
-
|
(150)
|
Financial
results, net
|
|
(9,231)
|
(7,745)
|
Provisions
and allowances
|
|
4,540
|
1,083
|
Share
of (profit) / loss of associates and joint ventures
|
7
|
(1,318)
|
234
|
Changes in operating assets and liabilities:
|
|
|
|
Increase
in inventories
|
|
(21)
|
(10)
|
Decrease
/ (increase) in trading properties
|
|
94
|
(94)
|
Increase
in trade and other receivables
|
|
(731)
|
(869)
|
(Decrease)
/ increase in trade and other payables
|
|
(300)
|
64
|
(Decrease)
/ increase in salaries and social security liabilities
|
|
(288)
|
47
|
Decrease
in provisions
|
|
(25)
|
(104)
|
Net cash generated by operating activities before income tax
paid
|
|
11,124
|
9,348
|
|
Six months ended December 31, 2022
|
Six months ended December 31, 2021
|
Decrease
in investment properties through an increase in property, plant and
equipment
|
10
|
2,195
|
Decrease
in lease liabilities through a decrease in trade and other
receivables
|
-
|
6
|
Increase
in intangible assets through a decrease in trading
properties
|
333
|
-
|
Currency
translation adjustment and other comprehensive income
|
570
|
845
|
Increase
in investment properties through an increase in trade and other
payables
|
43
|
263
|
Increase
in investments in associates through a decrease in investments in
financial assets
|
-
|
1,237
|
Issuance
of NCN
|
26,325
|
-
|
Decrease
in investments in financial assets through a decrease in trade and
other payables
|
244
|
-
|
Decrease
in dividends receivables through an increase in investments in
financial assets
|
7
|
-
|
Decrease
in property, plant and equipment through an increase of revaluation
surplus
|
175
|
-
|
Decrease
in investment properties through a decrease in investments in
financial assets
|
52
|
-
|
Decrease
in property, plant and equipment through an increase in investment
properties
|
2,128
|
-
|
Decrease
in Shareholders’ Equity through a decrease in investments in
financial assets
|
2,053
|
-
|
|
December 31, 2022
|
June 30, 2022
|
Customers´
advances (*)
|
5,165
|
5,209
|
Trade
payables
|
2,268
|
2,288
|
Accrued
invoices
|
1,377
|
1,687
|
Admission
fees (*)
|
4,585
|
3,684
|
Other
income to be accrued
|
133
|
137
|
Tenant
deposits
|
89
|
96
|
Total trade payables
|
13,617
|
13,101
|
Taxes
payable
|
2,486
|
1,901
|
Other
payables
|
1,274
|
2,282
|
Total other payables
|
3,760
|
4,183
|
Total trade and other payables
|
17,377
|
17,284
|
Non-current
|
5,429
|
5,089
|
Current
|
11,948
|
12,195
|
Total
|
17,377
|
17,284
|
|
|
|
|
Total as of December 31, 2022
|
Total as of June 30, 2022
|
Fair value as of December 31, 2022
|
Fair value as of June 30, 2022
|
NCN
|
77,995
|
94,735
|
74,830
|
89,292
|
Bank
loans
|
479
|
1,448
|
479
|
1,456
|
Bank
overdrafts
|
4,472
|
8,400
|
4,472
|
8,400
|
Other
borrowings
|
1,186
|
1,453
|
1,186
|
1,453
|
AABE
Debt
|
591
|
579
|
591
|
579
|
Loans
with non-controlling interests
|
310
|
308
|
310
|
308
|
Total borrowings
|
85,033
|
106,923
|
81,868
|
101,488
|
Non-current
|
42,895
|
18,674
|
|
|
Current
|
42,138
|
88,249
|
|
|
Total
|
85,033
|
106,923
|
|
|
|
Six months ended December 31, 2022
|
Year ended June 30, 2022
|
||
|
Legal claims
|
Investments in associates and joint ventures (ii)
|
Total
|
Total
|
Beginning of period / year
|
552
|
11
|
563
|
612
|
Additions
(i)
|
3,865
|
-
|
3,865
|
488
|
Share
of profit of associates
|
-
|
(11)
|
(11)
|
(4)
|
Recovery
(i)
|
(110)
|
-
|
(110)
|
(113)
|
Used
during the period / year
|
(25)
|
-
|
(25)
|
(139)
|
Inflation
adjustment
|
(347)
|
-
|
(347)
|
(281)
|
End of period / year
|
3,935
|
-
|
3,935
|
563
|
Non-current
|
|
|
3,705
|
280
|
Current
|
|
|
230
|
283
|
Total
|
|
|
3,935
|
563
|
|
December 31, 2022
|
December 31, 2021
|
Current
income tax
|
13,385
|
(1,517)
|
Deferred
income tax
|
11,899
|
(8,724)
|
Income tax
|
25,284
|
(10,241)
|
|
Six months ended December 31, 2022
|
Six months ended December 31, 2021
|
Loss/ (profit) for the period at tax rate applicable in the
respective countries
|
(1,075)
|
(20,982)
|
Permanent differences:
|
|
|
Share
of profit of associates and joint ventures
|
576
|
82
|
Unrecognized
tax loss carryforwards
|
(10,465)
|
7,420
|
Difference
between provision and tax return
|
11,312
|
407
|
Inflation
adjustment permanent difference
|
8,662
|
9,638
|
Tax
rate differential
|
-
|
134
|
Non-taxable
profit, non-deductible expenses and others
|
18,459
|
(823)
|
Tax
inflation adjustment
|
(2,185)
|
(6,117)
|
Income tax
|
25,284
|
(10,241)
|
|
December 31, 2022
|
June 30, 2022
|
Beginning of period / year
|
(140,944)
|
(160,244)
|
Revaluation
surplus reserve
|
-
|
(355)
|
Deferred
income tax charge
|
11,899
|
19,655
|
End of period / year
|
(129,045)
|
(140,944)
|
Deferred
income tax assets
|
125
|
109
|
Deferred
income tax liabilities
|
(129,170)
|
(141,053)
|
Deferred income tax liabilities, net
|
(129,045)
|
(140,944)
|
|
Six months ended December 31, 2022
|
Six months ended December 31, 2021
|
Base
rent
|
8,088
|
6,861
|
Contingent
rent
|
7,127
|
6,042
|
Admission
rights
|
1,235
|
906
|
Parking
fees
|
649
|
383
|
Commissions
|
319
|
243
|
Property
management fees
|
151
|
168
|
Others
|
148
|
115
|
Averaging
of scheduled rent escalation
|
78
|
(636)
|
Rentals and services income
|
17,795
|
14,082
|
Revenue
from hotels operation and tourism services
|
4,970
|
2,693
|
Sale
of trading properties
|
2,012
|
245
|
Total revenues from sales, rentals and services
|
24,777
|
17,020
|
Expenses
and collective promotion fund
|
6,113
|
4,507
|
Total revenues from expenses and collective promotion
funds
|
6,113
|
4,507
|
Total Group’s revenues
|
30,890
|
21,527
|
|
Costs
|
General and administrative expenses
|
Selling expenses
|
Total as of December 31, 2022
|
Total as of December 31, 2021
|
Cost
of sale of goods and services
|
684
|
-
|
-
|
684
|
300
|
Salaries,
social security costs and other personnel expenses
|
3,302
|
1,709
|
214
|
5,225
|
4,588
|
Depreciation
and amortization
|
435
|
257
|
2
|
694
|
670
|
Fees
and payments for services
|
202
|
548
|
146
|
896
|
802
|
Maintenance,
security, cleaning, repairs and others
|
2,831
|
301
|
3
|
3,135
|
2,683
|
Advertising
and other selling expenses
|
2,120
|
1
|
139
|
2,260
|
1,185
|
Taxes,
rates and contributions
|
651
|
125
|
775
|
1,551
|
1,957
|
Director´s
fees
|
-
|
780
|
-
|
780
|
750
|
Leases
and service charges
|
111
|
74
|
5
|
190
|
249
|
Allowance
for doubtful accounts, net
|
-
|
-
|
(3)
|
(3)
|
71
|
Other
expenses
|
143
|
153
|
13
|
309
|
282
|
Total as of December 31, 2022
|
10,479
|
3,948
|
1,294
|
15,721
|
-
|
Total as of December 31, 2021
|
8,212
|
3,689
|
1,636
|
-
|
13,537
|
|
Total as of December 31, 2022
|
Total as of December 31, 2021
|
Inventories
at the beginning of the period
|
4,806
|
4,293
|
Purchases
and expenses
|
10,670
|
8,433
|
Currency
translation adjustment
|
(43)
|
(252)
|
Disposals
|
(309)
|
-
|
Inventories
at the end of the period
|
(4,645)
|
(4,262)
|
Total costs
|
10,479
|
8,212
|
|
Total as of December 31, 2022
|
Total as of June 30, 2022
|
Real
estate
|
4,445
|
4,627
|
Others
|
200
|
179
|
Total inventories at the end of the period (*)
|
4,645
|
4,806
|
|
Six months ended December 31, 2022
|
Six months ended December 31, 2021
|
Realization
of currency translation adjustment (*)
|
285
|
-
|
Donations
|
(60)
|
(67)
|
Lawsuits
and other contingencies
|
(3,763)
|
(262)
|
Administration
fees
|
39
|
22
|
Interest
and allowances generated by operating credits
|
207
|
154
|
Others
|
231
|
74
|
Total other operating results, net
|
(3,061)
|
(79)
|
|
Six months ended December 31, 2022
|
Six months ended December 31, 2021
|
Finance
income:
|
|
|
-
Interest income
|
269
|
307
|
Total finance income
|
269
|
307
|
Finance
costs:
|
|
|
-
Interest expenses
|
(4,779)
|
(6,832)
|
-
Other finance costs
|
(395)
|
(681)
|
Subtotal finance costs
|
(5,174)
|
(7,513)
|
Capitalized
finance costs
|
-
|
-
|
Total finance costs
|
(5,174)
|
(7,513)
|
Other
financial results:
|
|
|
-
Fair value gain of financial assets and liabilities at fair value
through profit or loss, net
|
853
|
1,668
|
-
Exchange differences, net
|
1,862
|
11,661
|
-
Gain from repurchase of negotiable obligations
|
81
|
1,538
|
-
Gain from derivative financial instruments, net
|
23
|
21
|
-
Other financial results
|
(274)
|
26
|
Total other financial results
|
2,545
|
14,914
|
- Inflation
adjustment
|
8,616
|
837
|
Total financial results, net
|
6,256
|
8,545
|
Item
|
December 31, 2022
|
June 30, 2022
|
Trade
and other receivables
|
5,965
|
6,269
|
Investments
in financial assets
|
2,518
|
4,055
|
Borrowings
|
(211)
|
(237)
|
Trade
and other payables
|
(1,168)
|
(1,594)
|
Total
|
7,104
|
8,493
|
Related party
|
December 31, 2022
|
June 30, 2022
|
Description of transaction
|
Item
|
New
Lipstick LLC
|
43
|
43
|
Reimbursement
of expenses receivable
|
Trade
and other receivables
|
Comparaencasa
Ltd.
|
386
|
391
|
Other
investments
|
Investments
in financial assets
|
|
-
|
(59)
|
Others
|
Trade
and other payables
|
Galerias
Pacifico
|
1,632
|
1,006
|
Others
|
Trade
and other receivables
|
La
Rural S.A.
|
395
|
352
|
Loans
granted
|
Trade
and other receivables
|
|
117
|
292
|
Dividends
|
Trade
and other receivables
|
|
(20)
|
(7)
|
Others
|
Trade
and other payables
|
|
8
|
6
|
Others
|
Trade
and other receivables
|
|
(2)
|
-
|
Leases
and/or rights of use payable
|
Trade
and other payables
|
Other
associates and joint ventures
|
-
|
1
|
Reimbursement
of expenses receivable
|
Trade
and other receivables
|
|
(62)
|
(87)
|
Borrowings
|
Borrowings
|
|
9
|
10
|
Leases
and/or rights of use receivable
|
Trade
and other receivables
|
|
24
|
-
|
Unpaid
contributions
|
Trade
and other payables
|
|
22
|
27
|
Management
Fee
|
Trade
and other receivables
|
|
(88)
|
(90)
|
NCN
|
Borrowings
|
|
(33)
|
(60)
|
Others
|
Trade
and other payables
|
|
19
|
72
|
Others
|
Trade
and other receivables
|
|
1
|
1
|
Share
based payments
|
Trade
and other payables
|
Total associates and joint ventures
|
2,451
|
1,898
|
|
|
Cresud
|
5
|
7
|
Reimbursement
of expenses receivable
|
Trade
and other receivables
|
|
(233)
|
(595)
|
Corporate
services payable
|
Trade
and other payables
|
|
2,132
|
3,664
|
NCN
|
Investment
in financial assets
|
|
(306)
|
(293)
|
Others
|
Trade
and other payables
|
|
(3)
|
(4)
|
Share
based payments
|
Trade
and other payables
|
Total parent company
|
1,595
|
2,779
|
|
|
Futuros
y Opciones S.A.
|
2
|
3
|
Others
|
Trade
and other receivables
|
Helmir
S.A.
|
(61)
|
(60)
|
NCN
|
Borrowings
|
Total subsidiaries of parent company
|
(59)
|
(57)
|
|
|
Directors
|
(453)
|
(521)
|
Fees
for services received
|
Trade
and other payables
|
|
-
|
862
|
Advances
|
Trade
and other receivables
|
Yad
Leviim LTD
|
3,198
|
3,160
|
Loans
granted
|
Trade
and other receivables
|
Others
(1)
|
(12)
|
(19)
|
Legal
Services
|
Trade
and other payables
|
|
488
|
392
|
Others
|
Trade
and other receivables
|
|
(102)
|
(20)
|
Others
|
Trade
and other payables
|
|
(29)
|
(17)
|
Management
Fee
|
Trade
and other payables
|
|
27
|
36
|
Reimbursement
of expenses receivable
|
Trade
and other receivables
|
Total directors and others
|
3,117
|
3,873
|
|
|
Total at the end of the period / year
|
7,104
|
8,493
|
|
|
Related party
|
Six months ended December 31, 2022
|
Six months ended December 31, 2021
|
Description of transaction
|
BACS
|
-
|
43
|
Leases
and/or rights of use
|
Condor
|
2
|
(4)
|
Financial
operations
|
BHN
Vida S.A
|
(2)
|
23
|
Leases
and/or rights of use
|
BHN
Seguros Generales S.A.
|
-
|
21
|
Financial
operations
|
Comparaencasa
Ltd.
|
7
|
-
|
Financial
operations
|
Otras
asociadas y negocios conjuntos
|
42
|
-
|
Financial
operations
|
|
(18)
|
-
|
Leases
and/or rights of use
|
|
32
|
-
|
Corporate
services
|
Total associates and joint ventures
|
63
|
83
|
|
Cresud
|
35
|
58
|
Leases
and/or rights of use
|
|
-
|
(631)
|
Corporate
services
|
|
939
|
(245)
|
Financial
operations
|
Total parent company
|
974
|
(818)
|
|
Helmir
|
(5)
|
2
|
Financial
operations
|
Total parent company
|
(5)
|
2
|
|
Directors
|
(780)
|
(721)
|
Fees
and remunerations
|
Yad
Leviim LTD
|
72
|
86
|
Financial
operations
|
Others
(1)
|
59
|
-
|
Financial
operations
|
|
3
|
-
|
Leases
and/or rights of use
|
|
(50)
|
(33)
|
Donations
|
|
(35)
|
(33)
|
Legal
services
|
|
(22)
|
-
|
Fees
and remuneration
|
Otras
(1)
|
6
|
-
|
Legal
services
|
Total others
|
(747)
|
(701)
|
|
Total at the end of the period
|
285
|
(1,434)
|
|
Related party
|
Six months ended December 31, 2022
|
Six months ended December 31, 2021
|
Description of the operation
|
Quality
|
-
|
58
|
Capital
contributions
|
Condor
|
-
|
1,237
|
Exchange
of shares
|
Total capital contributions
|
-
|
1,295
|
|
Condor
|
69
|
5,131
|
Dividends
received
|
Nuevo
Puerto Santa Fe
|
143
|
-
|
Dividends
received
|
Total other transactions
|
212
|
5,131
|
|
Exhibit
A - Property, plant and equipment
|
Note 8
Investment properties and Note 9 Property, plant and
equipment
|
Exhibit
B - Intangible assets
|
Note 11
Intangible assets
|
Exhibit
C - Investment in associates
|
Note 7
Investments in associates and joint ventures
|
Exhibit
D - Other investments
|
Note 13
Financial instruments by category
|
Exhibit
E – Provisions
|
Note
14Trade and other receivables and Note 18 Provisions
|
Exhibit
F - Cost of sales and services provided
|
Note
22Cost of goods sold and services provided
|
Exhibit
G - Foreign currency assets and liabilities
|
Note 27
Foreign currency assets and liabilities
|
Item / Currency (1)
|
Amount (2)
|
Peso exchange rate (3)
|
Total as of 12.31.2022
|
Total as of 06.30.2022
|
Assets
|
|
|
|
|
Trade and other receivables
|
|
|
|
|
US
Dollar
|
26.34
|
176.96
|
4,662
|
4,883
|
Euros
|
0.08
|
189.26
|
15
|
16
|
Receivables with related parties:
|
|
|
|
|
US
Dollar
|
19.10
|
177.16
|
3,384
|
3,239
|
Total trade and other receivables
|
|
|
8,061
|
8,138
|
Investments in financial assets
|
|
|
|
|
US
Dollar
|
26.99
|
176.96
|
4,777
|
2,465
|
Pounds
|
0.72
|
213.91
|
153
|
140
|
New
Israel Shekel
|
10.54
|
50.40
|
531
|
821
|
Investments with related parties:
|
|
|
|
|
US
Dollar
|
13.01
|
177.16
|
2,304
|
4,098
|
Total investments in financial assets
|
|
|
7,765
|
7,524
|
Derivative financial instruments
|
|
|
|
|
US
Dollar
|
0.04
|
176.96
|
7
|
-
|
Total Derivative financial instruments
|
|
|
7
|
-
|
Cash and cash equivalents
|
|
|
|
|
US
Dollar
|
14.05
|
176.96
|
2,487
|
13,197
|
Euros
|
0.01
|
189.26
|
2
|
1
|
Total cash and cash equivalents
|
|
|
2,489
|
13,198
|
Total Assets
|
|
|
18,322
|
28,860
|
|
|
|
|
|
Liabilities
|
|
|
|
|
Trade and other payables
|
|
|
|
|
US
Dollar
|
9.12
|
177.16
|
1,615
|
1,535
|
Euros
|
-
|
189.92
|
-
|
1
|
Payables to related parties:
|
|
|
|
|
US
Dollar
|
0.03
|
177.16
|
6
|
86
|
Total Trade and other payables
|
|
|
1,621
|
1,622
|
Borrowings
|
|
|
|
|
US
Dollar
|
406.29
|
177.16
|
71,979
|
89,423
|
Borrowings with related parties
|
|
|
|
|
US
Dollar
|
1.11
|
177.16
|
196
|
199
|
Total Borrowings
|
|
|
72,175
|
89,622
|
Derivative financial instruments
|
|
|
|
|
US
Dollar
|
-
|
177.16
|
-
|
23
|
Total derivative financial instruments
|
|
|
-
|
23
|
Lease liabilities
|
|
|
|
|
US
Dollar
|
9.29
|
177.16
|
1,645
|
1,595
|
Total lease liabilities
|
|
|
1,645
|
1,595
|
Provisions
|
|
|
|
|
New
Israel Shekel
|
70.00
|
50.40
|
3,528
|
-
|
Total Provisions
|
|
|
3,528
|
-
|
Total Liabilities
|
|
|
78,969
|
92,862
|
PRICE
WATERHOUSE & CO. S.R.L.
(Partner)
|
|
ABELOVICH,
POLANO & ASOCIADOS S.R.L.
(Partner)
|
C.P.C.E.C.A.B.A. V° 1 F° 17
|
|
C.P.C.E.C.A.B.A.
V. 1 F. 30
Marcelo
Héctor Fuxman
Public
Accountant (UBA)
C.P.C.E.
C.A.B.A. V. 134 F. 85
|
Carlos Brondo
Public Accountant (UNCUYO)
C.P.C.E.C.A.B.A. V. 391 F. 078
|
|
Noemí
I. Cohn
Public Accountant (UBA)
C.P.C.E. C.A.B.A. V. 116 F. 135
|
|
Note
|
12.31.2022
|
06.30.2022
|
ASSETS
|
|
|
|
Non-current assets
|
|
|
|
Investment
properties
|
7
|
298,377
|
322,024
|
Property,
plant and equipment
|
8
|
2,860
|
2,982
|
Trading
properties
|
9
|
2,066
|
2,007
|
Intangible
assets
|
10
|
4,563
|
4,338
|
Rights
of use assets
|
11
|
452
|
856
|
Investments
in subsidiaries, associates and joint ventures
|
6
|
104,905
|
113,933
|
Income
tax credit
|
|
-
|
13
|
Trade
and other receivables
|
13
|
1,309
|
1,195
|
Total non-current assets
|
|
414,532
|
447,348
|
Current assets
|
|
|
|
Trading
properties
|
9
|
6
|
9
|
Inventories
|
|
82
|
77
|
Income
tax credit
|
|
84
|
52
|
Trade
and other receivables
|
13
|
15,717
|
10,928
|
Investments
in financial assets
|
12
|
20,593
|
23,459
|
Cash
and cash equivalents
|
12
|
1,577
|
15,004
|
Total current assets
|
|
38,059
|
49,529
|
TOTAL ASSETS
|
|
452,591
|
496,877
|
SHAREHOLDERS’ EQUITY
|
|
|
|
Shareholders'
equity (according to corresponding statements)
|
|
234,657
|
227,602
|
TOTAL SHAREHOLDERS’ EQUITY
|
|
234,657
|
227,602
|
LIABILITIES
|
|
|
|
Non-current liabilities
|
|
|
|
Trade
and other payables
|
14
|
3,981
|
3,763
|
Borrowings
|
15
|
45,243
|
28,925
|
Deferred
income tax liabilities
|
16
|
106,360
|
116,313
|
Provisions
|
17
|
264
|
273
|
Total non-current liabilities
|
|
155,848
|
149,274
|
Current liabilities
|
|
|
|
Trade
and other payables
|
14
|
8,245
|
9,012
|
Salaries
and social security liabilities
|
|
363
|
648
|
Borrowings
|
15
|
53,321
|
89,611
|
Derivative
financial instruments
|
|
-
|
20,522
|
Provisions
|
17
|
157
|
207
|
Lease
liabilities
|
|
-
|
1
|
Total current liabilities
|
|
62,086
|
120,001
|
TOTAL LIABILITIES
|
|
217,934
|
269,275
|
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES
|
|
452,591
|
496,877
|
|
..
AlejandroG. Elsztain
VicePresident II
|
|
|
Six
month
|
Three
month
|
||
|
Note
|
12.31.2022
|
12.31. 2021
|
12.31. 2022
|
12.31. 2021
|
Revenues
|
18
|
19,070
|
14,917
|
10,218
|
14,829
|
Costs
|
19
|
(6,520)
|
(5,556)
|
(3,394)
|
(5,447)
|
Gross profit
|
|
12,550
|
9,361
|
6,824
|
9,382
|
Net
(loss)/ gain from fair value adjustment of investment
properties
|
7
|
(22,504)
|
46,296
|
(16,738)
|
48,114
|
General
and administrative expenses
|
19
|
(2,788)
|
(2,807)
|
(1,515)
|
(2,450)
|
Selling
expenses
|
19
|
(781)
|
(1,286)
|
(453)
|
(1,221)
|
Other
operating results, net
|
20
|
277
|
(86)
|
277
|
(128)
|
(Loss)/ Profit from operations
|
|
(13,246)
|
51,478
|
(11,605)
|
53,697
|
Share
of (loss)/ profit of subsidiaries, associates and joint
ventures
|
6
|
(1,951)
|
(2,320)
|
(1,882)
|
1,111
|
(Loss)/ Profit before financial results and income tax
|
|
(15,197)
|
49,158
|
(13,487)
|
54,808
|
Finance
income
|
21
|
48
|
185
|
18
|
167
|
Finance
costs
|
21
|
(4,347)
|
(7,328)
|
(2,208)
|
(6,198)
|
Other
financial results
|
21
|
1,562
|
16,010
|
511
|
13,135
|
Inflation
adjustment
|
21
|
8,521
|
1,095
|
3,803
|
1,464
|
Financial results, net
|
|
5,784
|
9,962
|
2,124
|
8,568
|
(Loss)/ Profit before income tax
|
|
(9,413)
|
59,120
|
(11,363)
|
63,376
|
Income
tax
|
16
|
24,503
|
(9,692)
|
25,089
|
(12,652)
|
Profit for the period
|
|
15,090
|
49,428
|
13,726
|
50,724
|
|
|
|
|
|
|
Other comprehensive income:
|
|
|
|
|
|
Items that may be reclassified subsequently to profit or
loss:
|
|
|
|
|
|
Currency
translation adjustment and other comprehensive results of
subsidiaries, associates and joint ventures
|
|
(572)
|
(820)
|
(285)
|
(472)
|
Total other comprehensive loss for the period (i)
|
|
(572)
|
(820)
|
(285)
|
(472)
|
Total comprehensive income for the period
|
|
14,518
|
48,608
|
13,441
|
50,252
|
|
|
|
|
|
|
Profit per share for the period (ii)
|
|
|
|
|
|
Basic
|
|
18.85
|
61.10
|
17.14
|
62.70
|
Diluted
|
|
16.92
|
55.47
|
15.39
|
56.93
|
|
..
AlejandroG. Elsztain
VicePresident II
|
|
Share capital
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding shares
|
Treasury shares
|
Inflation adjustment of share capital and treasury shares
(1)
|
Share premium
|
Additional paid-in capital from treasury shares
|
Warrants (2)
|
Legal reserve
|
CNV 609/12 Resolution reserve
|
Other reserves (3)
|
Retained earnings
|
Total Shareholders’ equity
|
Balance as of June 30, 2022
|
805
|
6
|
49,409
|
94,303
|
348
|
4,171
|
4,461
|
33,141
|
(3,058)
|
44,016
|
227,602
|
Profit
for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
15,090
|
15,090
|
Other
comprehensive loss for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(572)
|
-
|
(572)
|
Repurchase
of treasury shares
|
(5)
|
5
|
-
|
-
|
-
|
-
|
-
|
-
|
(807)
|
-
|
(807)
|
Exercise
of warrants
|
-
|
-
|
-
|
3
|
-
|
(1)
|
-
|
-
|
-
|
-
|
2
|
Reserve
for share-based payments
|
-
|
-
|
-
|
-
|
(3)
|
-
|
-
|
-
|
3
|
-
|
-
|
Dividends
distribution
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(6,209)
|
(6,209)
|
Shareholders’
meeting held as of 10.28.22
|
-
|
-
|
-
|
-
|
-
|
-
|
2,201
|
-
|
36,723
|
(38,924)
|
-
|
Other
changes in shareholders’ equity
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(449)
|
-
|
(449)
|
Balance as of December 31, 2022
|
800
|
11
|
49,409
|
94,306
|
345
|
4,170
|
6,662
|
33,141
|
31,840
|
13,973
|
234,657
|
|
Cost of treasury shares
|
Reserve for future dividends
|
Reserve for currency translation adjustment
|
Special reserve
|
Other reserves (i)
|
Total other reserves
|
Balance as of June 30, 2022
|
(1,064)
|
5,963
|
721
|
1,913
|
(10,591)
|
(3,058)
|
Other
comprehensive loss for the period
|
-
|
-
|
(397)
|
-
|
(175)
|
(572)
|
Repurchase
of treasury shares
|
(807)
|
-
|
-
|
-
|
-
|
(807)
|
Reserve
for share-based payments
|
4
|
-
|
-
|
-
|
(1)
|
3
|
Shareholders’
meeting held as of 10.28.22
|
-
|
-
|
-
|
36,723
|
-
|
36,723
|
Other
changes in shareholders’ equity
|
-
|
-
|
(433)
|
-
|
(16)
|
(449)
|
Balance as of December 31, 2022
|
(1,867)
|
5,963
|
(109)
|
38,636
|
(10,783)
|
31,840
|
|
..
AlejandroG. Elsztain
VicePresident II
|
|
Share capital
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding shares
|
Treasury shares
|
Inflation adjustment of share capital and treasury shares
(1)
|
Share premium
|
Additional paid-in capital from treasury shares
|
Warrants (2)
|
Legal reserve
|
CNV 609/12 Resolution reserve
|
Other reserves (3)
|
Retained earnings
|
Total Shareholders’ equity
|
Balance as of June 30, 2021
|
657
|
2
|
49,265
|
56,564
|
347
|
4,174
|
3,762
|
33,141
|
69,781
|
(72,013)
|
145,680
|
Profit
for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
49,428
|
49,428
|
Other
comprehensive loss for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(820)
|
-
|
(820)
|
Exercise
of warrants (2)
|
-
|
-
|
-
|
8
|
-
|
(2)
|
-
|
-
|
-
|
-
|
6
|
Incorporated
by merger
|
152
|
-
|
144
|
38,002
|
-
|
-
|
699
|
-
|
(101)
|
(4,991)
|
33,905
|
Shareholders’
meeting held as of 10.21.21
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(72,009)
|
72,009
|
-
|
Balance as of December 31, 2021
|
809
|
2
|
49,409
|
94,574
|
347
|
4,172
|
4,461
|
33,141
|
(3,149)
|
44,433
|
228,199
|
|
Cost of treasury shares
|
Reserve for future dividends
|
Reserve for currency translation adjustment
|
Special reserve
|
Other reserves
|
Total other reserves
|
Balance as of June 30, 2021
|
(600)
|
5,963
|
1,519
|
73,922
|
(11,023)
|
69,781
|
Other
comprehensive loss for the period
|
-
|
-
|
(820)
|
-
|
-
|
(820)
|
Incorporated
by merger
|
-
|
-
|
(27)
|
-
|
(74)
|
(101)
|
Shareholders’
meeting held as of 10.21.21
|
-
|
-
|
-
|
(72,009)
|
-
|
(72,009)
|
Balance as of December 31, 2021
|
(600)
|
5,963
|
672
|
1,913
|
(11,097)
|
(3,149)
|
|
.
AlejandroG. Elsztain
VicePresident II
|
|
Note
|
12.31.2022
|
12.31.2021
|
Operating activities (1)
|
|
|
|
Profit
for the period
|
|
15,090
|
49,428
|
Adjustments:
|
|
|
|
Income
tax
|
16
|
(24,503)
|
9,692
|
Amortization
and depreciation
|
19
|
739
|
682
|
Gain
from disposal of trading properties
|
|
(321)
|
-
|
Financial
results, net
|
|
(5,632)
|
(9,621)
|
Increase
in trading properties
|
9
|
(82)
|
-
|
Net
loss/ (gain) from fair value adjustment of investment
properties
|
7
|
22,504
|
(46,296)
|
Share
of loss of subsidiaries, associates and joint ventures
|
6
|
1,951
|
2,320
|
Gain
from disposal of intangible assets
|
|
-
|
(150)
|
Provisions
and allowances
|
|
801
|
995
|
Management
fees
|
|
-
|
(175)
|
Increase
in inventories
|
|
(5)
|
(2)
|
(Decrease)/
Increase in salaries and social security liabilities
|
|
(285)
|
21
|
Decrease
in trade and other receivables
|
|
275
|
164
|
Use
of provisions
|
|
(23)
|
(88)
|
Decrease
in trade and other payables
|
|
(2,213)
|
(1,023)
|
Net
cash flow generated from operating activities before income tax
paid
|
|
8,296
|
5,947
|
Income tax
paid
|
|
(18)
|
-
|
Net cash flow generated from operating activities
|
|
8,278
|
5,947
|
Investing activities (1)
|
|
|
|
Capital
contributions to subsidiaries, associates and joint
ventures
|
6
|
(83)
|
(674)
|
Acquisition
of investment properties
|
|
(1,056)
|
(2,472)
|
Acquisition
of property, plant and equipment
|
8
|
(50)
|
(56)
|
Acquisition
of intangible assets
|
10
|
(1)
|
(6)
|
Increase
of investments in financial assets
|
|
(6,702)
|
(2,141)
|
Proceeds
from sale of investment properties
|
|
2,128
|
8,957
|
Proceeds
from sale of properties, plant and equipment
|
|
9
|
-
|
Proceeds
from sale of intangible assets
|
|
-
|
220
|
Proceeds
from loans granted to related parties
|
|
1
|
-
|
Derivative
financial instruments, net
|
|
(2)
|
-
|
Decrease
in derivative financial instruments
|
|
-
|
(19)
|
Increase
in loans granted to related parties
|
|
(128)
|
-
|
Proceeds
from sale of investments in financial assets
|
|
8,574
|
2,421
|
Capital
contributions to subsidiaries, associates and joint ventures
pending subscription
|
|
(1)
|
-
|
Proceeds
from loans granted to related parties
|
|
-
|
10
|
Interest
collected
|
|
86
|
201
|
Dividends
received
|
|
1,027
|
547
|
Net cash flow generated from investing activities
|
|
3,802
|
6,988
|
Financing activities (1)
|
|
|
|
Payment
of short-term loans, net
|
|
(3,287)
|
(925)
|
Borrowings
obtained
|
|
-
|
803
|
Payment
of loans
|
|
-
|
(1,044)
|
Interests
paid
|
|
(4,863)
|
(7,001)
|
Loans
obtained from subsidiaries, associates and joint
ventures
|
|
711
|
448
|
Payment
of loans from subsidiaries, associates and joint
ventures
|
|
(22)
|
(10)
|
Payment
of finance leases
|
|
(2)
|
-
|
Repurchase
of treasury shares
|
|
(807)
|
-
|
Exercise
of warrants
|
|
2
|
-
|
Payment
of NCN
|
|
(13,022)
|
(8,877)
|
Issuance
of NCN
|
|
-
|
12,451
|
Repurchase
of non-convertible notes
|
|
-
|
(5,205)
|
Dividends
paid
|
|
(4,156)
|
-
|
Net cash flow used in financing activities
|
|
(25,446)
|
(9,360)
|
(Decrease)/ increase in cash and cash equivalents, net
|
|
(13,366)
|
3,575
|
Cash
and cash equivalents at the beginning of the period
|
12
|
15,004
|
1,262
|
Cash
and cash equivalents incorporated by merger
|
|
-
|
127
|
Foreign
exchange gain in cash and changes in fair value of cash
equivalents
|
|
31
|
279
|
Inflation
adjustment
|
|
(106)
|
(51)
|
Cash and cash equivalents at the end of the period
|
12
|
1,563
|
5,192
|
|
..
AlejandroG. Elsztain
VicePresident II
|
Price
variation
|
December
31, 2022
(six-month
accumulated)
|
|
43%
|
|
12.31.2022
|
06.30.2022
|
Beginning of period / year
|
113,812
|
164,963
|
Share
of loss
|
(1,951)
|
(1,863)
|
Other
comprehensive loss
|
(572)
|
(771)
|
Capital
contributions (Note 22)
|
155
|
1,103
|
Incorporated
by merger (iii)
|
-
|
(47,137)
|
Dividends
(Note 22)
|
(1,277)
|
(2,474)
|
Decrease
in participation (ii)
|
(4,981)
|
-
|
Other
changes in subsidiaries’ equity
|
(449)
|
-
|
Others
|
-
|
(9)
|
End of the period / year (i)
|
104,737
|
113,812
|
Name of the entity
|
% ownership interest
|
% ownership interest
|
Company’s interest in comprehensive (loss) /
income
|
|||
Subsidiaries
|
12.31.2022
|
12.31.2022
|
12.31.2022
|
12.31.2022
|
12.31.2022
|
12.31.2022
|
Tyrus
S.A.
|
100.00%
|
100.00%
|
5,316
|
7,720
|
(2,623)
|
(477)
|
Efanur
S.A.(*)
|
-
|
100.00%
|
-
|
5,631
|
(141)
|
(90)
|
Ritelco
S.A.
|
100.00%
|
100.00%
|
2,356
|
2,299
|
213
|
(82)
|
Inversora
Bolívar S.A.
|
96.57%
|
96.57%
|
2,362
|
2,149
|
212
|
(62)
|
E-Commerce
Latina S.A.
|
98.93%
|
98.93%
|
3,601
|
3,434
|
167
|
(129)
|
Palermo
Invest S.A.
|
97.34%
|
97.34%
|
2,898
|
2,688
|
209
|
(62)
|
Nuevas
Fronteras S.A.
|
76.34%
|
76.34%
|
1,044
|
933
|
111
|
(101)
|
Llao
Llao Resort S.A.
|
50.00%
|
50.00%
|
1,026
|
1,022
|
5
|
(84)
|
Hoteles
Argentinos SAU
|
100.00%
|
100.00%
|
575
|
569
|
6
|
(62)
|
Liveck
S.A.
|
9.30%
|
9.30%
|
256
|
220
|
35
|
(18)
|
Panamerican
Mall S.A. (8)
|
80.00%
|
80.00%
|
46,565
|
49,265
|
(2,055)
|
(193)
|
Torodur
S.A. (8)
|
100.00%
|
100.00%
|
14,851
|
14,719
|
133
|
(1,683)
|
Arcos
del Gourmet S.A. (8)
|
90.00%
|
90.00%
|
5,077
|
4,820
|
592
|
84
|
Shopping
Neuquén S.A. (8)
|
99.95%
|
99.95%
|
4,670
|
4,480
|
191
|
146
|
Centro
de Entretenimientos La Plata S.A. (5)(6)(8)
|
95.40%
|
95.40%
|
1,464
|
1,386
|
(74)
|
(14)
|
We
Are Appa S.A. (8)
|
93.63%
|
93.63%
|
83
|
306
|
(221)
|
(374)
|
Entertainment
Holdings S.A. (8)
|
70.00%
|
70.00%
|
490
|
147
|
343
|
160
|
Emprendimiento
Recoleta S.A. (3)(8)
|
53.68%
|
53.68%
|
111
|
112
|
(1)
|
(41)
|
Entretenimiento
Universal S.A. (4)(8)
|
3.75%
|
3.75%
|
(1)
|
(1)
|
1
|
2
|
Fibesa
S.A. (4)(8)
|
97.00%
|
97.00%
|
(167)
|
(120)
|
281
|
111
|
Associates
|
|
|
|
|
|
|
BHSA
(1) (2)
|
4.93%
|
4.93%
|
2,411
|
2,202
|
207
|
(59)
|
BACS
(2)
|
37.72%
|
37.72%
|
975
|
1,012
|
(37)
|
(29)
|
GCDI
S.A.( Ex TGLT S.A.) (7)(8)(9)
|
27.82%
|
27.82%
|
1,149
|
1,163
|
(14)
|
(333)
|
Joint ventures
|
|
|
|
|
|
|
IRSA
- Galerías Pacífico S.A. - U.T.
|
50.00%
|
50.00%
|
1,683
|
1,137
|
546
|
329
|
Cyrsa
S.A.
|
50.00%
|
50.00%
|
104
|
109
|
(5)
|
(16)
|
Quality
Invest S.A. (8)
|
50.00%
|
50.00%
|
5,030
|
5,520
|
(490)
|
(84)
|
Nuevo
Puerto Santa Fe S.A. (6)(8)
|
50.00%
|
50.00%
|
808
|
890
|
62
|
21
|
Total subsidiaries, associates and joint ventures
|
|
|
104,737
|
113,812
|
(2,347)
|
(3,140)
|
|
|
|
|
Latest financial information issued
|
||
Name of the entity
|
Location of business / Country of incorporation
|
Main activity
|
Common shares 1 vote
|
Share capital (nominal value)
|
Profit/ (Loss) for the period
|
Shareholders’ equity
|
Subsidiaries
|
|
|
|
|
|
|
Tyrus
|
Uruguay
|
Investment
|
21,365,969,546
|
12,213
|
1,096
|
5,209
|
Efanur
(*)
|
Uruguay
|
Investment
|
461,751,428
|
133
|
27
|
4,979
|
Ritelco
S.A.
|
Uruguay
|
Investment
|
453,321,176
|
94
|
211
|
2,357
|
Inversora
Bolívar S.A.
|
Argentina
|
Investment
|
1,725,502,782
|
1,787
|
220
|
2,446
|
E-Commerce
Latina S.A.
|
Argentina
|
Investment
|
1,710,302,484
|
1,729
|
168
|
3,633
|
Palermo
Invest S.A.
|
Argentina
|
Investment
|
1,324,755,303
|
1,363
|
214
|
2,523
|
Nuevas
Fronteras S.A.
|
Argentina
|
Hotel
|
38,068,999
|
50
|
121
|
1,763
|
Llao
Llao Resort S.A.
|
Argentina
|
Hotel
|
73,580,206
|
147
|
10
|
2,053
|
Hoteles
Argentinos SAU
|
Argentina
|
Hotel
|
685,978,099
|
767
|
6
|
609
|
Liveck
S.A.
|
Islas
Vírgenes Británicas
|
Investment
|
54,690,725
|
724
|
386
|
1,936
|
Panamerican
Mall S.A. (8)
|
Argentina
|
Real
estate
|
397,661,430
|
497
|
(2,671)
|
58,206
|
Torodur
S.A.(8)
|
Uruguay
|
Investment
|
581,675,948
|
1,884
|
131
|
14,864
|
Arcos
del Gourmet S.A. (8)
|
Argentina
|
Real
estate
|
72,973,903
|
81
|
658
|
5,641
|
Shopping
Neuquén S.A. (8)
|
Argentina
|
Real
estate
|
37,819,875
|
54
|
191
|
4,673
|
Centro
de Entretenimiento La Plata S.A. (5)(6)(8)
|
Argentina
|
Real
estate
|
25,853
|
95
|
19
|
510
|
We
Are Appa S.A. (8)
|
Argentina
|
Developer
|
484,832,538
|
518
|
(242)
|
(172)
|
Entertainment
Holdings S.A. (8)
|
Argentina
|
Investment
|
32,503,379
|
46
|
387
|
1,040
|
Emprendimiento
Recoleta S.A. (3)(8)
|
Argentina
|
Real
estate
|
13,449,990
|
25
|
(1)
|
206
|
Entretenimiento
Universal S.A.(8)
|
Argentina
|
Event
organization and others
|
825
|
-
|
22
|
(20)
|
Fibesa
S.A.(8)
|
Argentina
|
Real
estate
|
(i)
|
2
|
348
|
533
|
Associates
|
|
|
|
|
|
|
BHSA
(1) (2)
|
Argentina
|
Financial
|
73,939,835
|
1,500
|
4,178
|
48,889
|
BACS
(2)
|
Argentina
|
Financial
|
33,125,751
|
88
|
(97)
|
2,585
|
GCDI
( Ex TGLT S.A.) (7)(8)(9)
|
Argentina
|
Real
estate
|
257,330,595
|
915
|
(1,805)
|
4,131
|
Joint ventures
|
|
|
|
|
|
|
IRSA
- Galerías Pacífico S.A. - U.T.
|
Argentina
|
Hotel
|
500,000
|
1
|
1,091
|
3,366
|
Cyrsa
S.A.
|
Argentina
|
Real
estate
|
8,748,270
|
17
|
(10)
|
209
|
Quality
Invest S.A. (8)
|
Argentina
|
Real
estate
|
1,421,672,293
|
2,843
|
(979)
|
9,841
|
Nuevo
Puerto Santa Fe S.A. (6)(8)
|
Argentina
|
Real
estate
|
13,875,000
|
28
|
124
|
1,542
|
|
12.31.2022
|
06.30.2022
|
||
|
Level 2
|
Level 3
|
Level 2
|
Level 3
|
Fair value at the beginning of the period / year
|
229,034
|
92,990
|
8,681
|
81,959
|
Additions
|
287
|
758
|
10,325
|
2,461
|
Disposals
|
(2,179)
|
-
|
(41,631)
|
-
|
Transfers
|
(601)
|
591
|
82,461
|
(81,633)
|
Incorporated
by merger (ii)
|
-
|
-
|
141,062
|
97,146
|
Net
(loss)/ gain from fair value adjustment
|
(18,458)
|
(4,046)
|
28,141
|
(6,956)
|
Additions
of capitalized leasing costs
|
1
|
10
|
21
|
26
|
Amortization
of capitalized lease costs (i)
|
(4)
|
(6)
|
(26)
|
(13)
|
Fair value at the end of the period / year
|
208,080
|
90,297
|
229,034
|
92,990
|
|
12.31.2022
|
06.30.2022
|
Offices
and other rental properties
|
46,526
|
52,534
|
Land
reserve
|
154,294
|
168,008
|
Properties
under development
|
158
|
758
|
Shopping
malls
|
97,399
|
100,724
|
|
298,377
|
322,024
|
|
12.31.2022
|
06.30.2022
|
Sales
(Note 18)
|
18,725
|
14,672
|
Rental
and services´ costs (Note 19)
|
(6,400)
|
(5,294)
|
Cost
of sales and developments (Note 19)
|
(51)
|
(111)
|
Net
unrealized (loss)/ gain from fair value adjustment on investment
properties
|
(23,605)
|
42,247
|
Net
realized gain from fair value adjustment on investment properties
(i)
|
1,101
|
4,049
|
|
12.31.2022
|
06.30.22
|
|||||
|
Buildings and facilities
|
Furniture and fixtures
|
Machinery and equipment
|
Vehicles
|
Others
|
Total
|
Total
|
Costs
|
4,295
|
977
|
5,352
|
72
|
3
|
10,699
|
1,536
|
Accumulated
depreciation
|
(1,770)
|
(803)
|
(5,072)
|
(72)
|
-
|
(7,717)
|
(1,462)
|
Net book amount at the beginning of the period / year
|
2,525
|
174
|
280
|
-
|
3
|
2,982
|
74
|
Additions
|
-
|
21
|
28
|
-
|
1
|
50
|
73
|
Disposals
|
(9)
|
-
|
-
|
-
|
-
|
(9)
|
(2)
|
Transfers
|
(2)
|
-
|
12
|
-
|
-
|
10
|
(34)
|
Depreciation
(Note 19)
|
(62)
|
(15)
|
(96)
|
-
|
-
|
(173)
|
(285)
|
Incorporated
by merger (i)
|
-
|
-
|
-
|
-
|
-
|
-
|
3,156
|
Balances at the end of the period / year
|
2,452
|
180
|
224
|
-
|
4
|
2,860
|
2,982
|
Costs
|
4,284
|
998
|
5,392
|
72
|
4
|
10,750
|
10,699
|
Accumulated
depreciation
|
(1,832)
|
(818)
|
(5,168)
|
(72)
|
-
|
(7,890)
|
(7,717)
|
Net book amount at the end of the period / year
|
2,452
|
180
|
224
|
-
|
4
|
2,860
|
2,982
|
|
12.31.2022
|
06.30.2022
|
||
|
Completed properties
|
Undevelopedproperties
|
Total
|
Total
|
Beginning of the period / year
|
285
|
1,731
|
2,016
|
1,654
|
Additions
|
-
|
82
|
82
|
52
|
Disposals
|
(3)
|
(23)
|
(26)
|
-
|
Incorporated
by merger (i)
|
-
|
-
|
-
|
310
|
End of the period / year
|
282
|
1,790
|
2,072
|
2,016
|
Non-current
|
|
|
2,066
|
2,007
|
Current
|
|
|
6
|
9
|
Total
|
|
|
2,072
|
2,016
|
|
12.31.2022
|
06.30.2022
|
||
|
Computer software
|
Future units to be received from barters
|
Total
|
Total
|
Costs
|
1,752
|
4,160
|
5,912
|
2,238
|
Accumulated
amortization
|
(1,574)
|
-
|
(1,574)
|
(82)
|
Net book amount at the beginning of the period / year
|
178
|
4,160
|
4,338
|
2,156
|
Additions
|
2
|
332
|
334
|
7
|
Disposals
|
-
|
-
|
-
|
(411)
|
Amortization
(Note 19)
|
(109)
|
-
|
(109)
|
(157)
|
Incorporated
by merger (i)
|
-
|
-
|
-
|
2,743
|
Balances at the end of the period / year
|
71
|
4,492
|
4,563
|
4,338
|
Costs
|
1,754
|
4,492
|
6,246
|
5,912
|
Accumulated
amortization
|
(1,683)
|
-
|
(1,683)
|
(1,574)
|
Net book amount at the end of the period / year
|
71
|
4,492
|
4,563
|
4,338
|
|
12.31.2022
|
06.30.2022
|
Shopping
malls
|
452
|
853
|
Machinery
and equipment
|
-
|
3
|
Total rights of use assets
|
452
|
856
|
Non-current
|
452
|
856
|
Total
|
452
|
856
|
|
12.31.2022
|
06.30.2022
|
Shopping
malls
|
444
|
425
|
Machinery
and equipment
|
3
|
4
|
Others
|
-
|
14
|
Total amortization and depreciation (Note 19)
|
447
|
443
|
|
Financial assets at amortized cost (i)
|
Financial assets at fair value through profit or loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
|
|
Level 1
|
|
|
|
December 31, 2022
|
|
|
|
|
|
Assets as per Statement of Financial Position
|
|
|
|
|
|
Trade
and other receivables (excluding the allowance for doubtful
accounts and other receivables) (Note 13)
|
14,955
|
-
|
14,955
|
2,923
|
17,878
|
Investments
in financial assets:
|
|
|
|
|
|
-
Public companies’ securities
|
-
|
376
|
376
|
-
|
376
|
-
Mutual funds
|
-
|
16,137
|
16,137
|
-
|
16,137
|
-
Bonds
|
-
|
4,080
|
4,080
|
-
|
4,080
|
Cash
and cash equivalents:
|
|
|
|
|
|
-
Cash at bank and on hand
|
211
|
-
|
211
|
-
|
211
|
-
Short- term investments
|
-
|
1,366
|
1,366
|
-
|
1,366
|
Total
|
15,166
|
21,959
|
37,125
|
2,923
|
40,048
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial liabilities at amortized cost (i)
|
Subtotal financial liabilities
|
Non-financial liabilities
|
Total
|
|
|
|
|
|
December 31, 2022
|
|
|
|
|
Liabilities as per Statement of Financial Position
|
|
|
|
|
Trade
and other payables (Note 14)
|
3,402
|
3,402
|
8,824
|
12,226
|
Borrowings
(Note 15)
|
98,564
|
98,564
|
-
|
98,564
|
Total
|
101,966
|
101,966
|
8,824
|
110,790
|
|
|
|
|
|
|
Financial assets at amortized cost (i)
|
Financial assets at fair value through profit or loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
|
|
Level 1
|
|
|
|
June 30, 2022
|
|
|
|
|
|
Assets as per Statement of Financial Position
|
|
|
|
|
|
Trade
and other receivables (excluding the allowance for doubtful
accounts and other receivables) (Note 13)
|
10,040
|
-
|
10,040
|
3,159
|
13,199
|
Investments
in financial assets:
|
|
|
|
|
|
-
Public companies’ securities
|
-
|
253
|
253
|
-
|
253
|
-
Mutual funds
|
-
|
19,460
|
19,460
|
-
|
19,460
|
-
Bonds
|
-
|
3,746
|
3,746
|
-
|
3,746
|
Cash
and cash equivalents:
|
|
|
|
|
|
-
Cash at bank and on hand
|
11,772
|
-
|
11,772
|
-
|
11,772
|
-
Short-term investments
|
-
|
3,232
|
3,232
|
-
|
3,232
|
Total
|
21,812
|
26,691
|
48,503
|
3,159
|
51,662
|
|
|
|
|
|
|
|
Financial liabilities at amortized cost (i)
|
Subtotal financial liabilities
|
Non-financial liabilities
|
Total
|
|
|
|
|
|
June 30, 2022
|
|
|
|
|
Liabilities as per Statement of Financial Position
|
|
|
|
|
Trade
and other payables (Note 14)
|
4,797
|
4,797
|
7,978
|
12,775
|
Borrowings
(Note 15)
|
118,536
|
118,536
|
-
|
118,536
|
Total
|
123,333
|
123,333
|
7,978
|
131,311
|
|
12.31.2022
|
06.30.2022
|
Sales,
leases and services receivables
|
7,640
|
8,174
|
Less:
Allowance for doubtful accounts
|
(852)
|
(1,076)
|
Total trade receivables
|
6,788
|
7,098
|
Borrowings
granted, deposits and others
|
7,523
|
2,285
|
Advanced
payments
|
1,394
|
1,200
|
Tax
credits
|
793
|
834
|
Prepaid
expenses
|
350
|
403
|
Long-term
incentive plan
|
15
|
21
|
Others
|
163
|
282
|
Total other receivables
|
10,238
|
5,025
|
Total trade and other receivables
|
17,026
|
12,123
|
Non-current
|
1,309
|
1,195
|
Current
|
15,717
|
10,928
|
Total
|
17,026
|
12,123
|
|
12.31.2022
|
06.30.2022
|
Beginning of period /year
|
1,076
|
21
|
Additions
|
65
|
328
|
Disposals
/ Recoveries
|
(72)
|
(336)
|
Used
during the period / year
|
-
|
(16)
|
Incorporated
by merger (i)
|
-
|
1,693
|
Currency
translation adjustment
|
115
|
92
|
Inflation
adjustment
|
(332)
|
(706)
|
End of the period / year
|
852
|
1,076
|
|
12.31.2022
|
06.30.2022
|
Customers´
advances (*)
|
2,756
|
3,342
|
Trade
payables
|
1,713
|
1,571
|
Accrued
invoices
|
953
|
1,358
|
Admission
rights
|
3,981
|
3,169
|
Other
income to be accrued
|
103
|
109
|
Tenant
deposits
|
41
|
53
|
Total trade payables
|
9,547
|
9,602
|
Director´s
fees
|
443
|
880
|
Long-term
incentive plan
|
3
|
4
|
Tax
amnesty plans
|
50
|
40
|
Other
payables
|
249
|
933
|
Other
tax payables
|
1,934
|
1,316
|
Total other payables
|
2,679
|
3,173
|
Total trade and other payables
|
12,226
|
12,775
|
Non-current
|
3,981
|
3,763
|
Current
|
8,245
|
9,012
|
Total
|
12,226
|
12,775
|
|
Book value as of 12.31.2022
|
Book value as of 06.30.2022
|
Fair value as of 12.31.2022
|
Fair value as of 06.30.2022
|
NCN
|
77,846
|
94,585
|
74,687
|
89,150
|
Related
parties (Note 22)
|
16,535
|
15,801
|
16,391
|
15,626
|
Bank
overdrafts
|
4,183
|
8,150
|
4,183
|
8,150
|
Total borrowings
|
98,564
|
118,536
|
95,261
|
112,926
|
Non-current
|
45,243
|
28,925
|
|
|
Current
|
53,321
|
89,611
|
|
|
Total
|
98,564
|
118,536
|
|
|
|
12.31.2022
|
12.31.2021
|
Deferred
income tax
|
9,953
|
(8,810)
|
Current
income tax
|
14,550
|
(882)
|
Income tax
|
24,503
|
(9,692)
|
|
12.31.2022
|
12.31.2021
|
Net income at tax
rate (i)
|
3,295
|
(20,692)
|
Permanent differences:
|
|
|
Share
of loss of subsidiaries, associates and joint ventures
|
(683)
|
(812)
|
Difference
between provision and tax return
|
11,311
|
403
|
Recovery/
(provision) of tax loss carry forwards
|
(10,382)
|
7,599
|
Tax
inflation adjustment
|
(5,128)
|
(7,365)
|
Inflation
adjustment
|
11,534
|
11,171
|
Non-deductible
expenses and others
|
14,556
|
4
|
Income tax
|
24,503
|
(9,692)
|
|
12.31.2022
|
06.30.2022
|
Beginning of the period / year
|
(116,313)
|
(45,352)
|
Income
tax charge
|
9,953
|
19,332
|
Incorporated
by merger (i)
|
-
|
(90,014)
|
Revaluation
surplus
|
-
|
(279)
|
End of the period / year
|
(106,360)
|
(116,313)
|
|
12.31.2022
|
06.30.2022
|
||
|
Investments in associates and joint ventures
|
Labor, legal and other claims
|
Total
|
Total
|
Beginning of period / year
|
121
|
359
|
480
|
142
|
Additions
(i)
|
-
|
127
|
127
|
325
|
Decreases
(i)
|
-
|
(92)
|
(92)
|
(104)
|
Used
during the period / year
|
-
|
(23)
|
(23)
|
(113)
|
Incorporated
by merger (ii)
|
-
|
-
|
-
|
322
|
Inflation
adjustment
|
-
|
(118)
|
(118)
|
(213)
|
Share
of loss
|
47
|
-
|
47
|
121
|
End of period / year
|
168
|
253
|
421
|
480
|
Non-current
|
|
|
264
|
273
|
Current
|
|
|
157
|
207
|
Total
|
|
|
421
|
480
|
|
12.31.2022
|
12.31.2021
|
Base
rent
|
6,067
|
5,217
|
Contingent
rent
|
5,964
|
4,996
|
Admission
rights
|
1,073
|
781
|
Parking
fees
|
486
|
253
|
Property
management fees
|
124
|
134
|
Others
|
21
|
82
|
Averaging
of scheduled rent escalation
|
(67)
|
(545)
|
Rentals and services income
|
13,668
|
10,918
|
Sale
of trading properties
|
345
|
245
|
Total revenues from sales, rentals and services
|
14,013
|
11,163
|
Expenses
and collective promotion funds
|
5,057
|
3,754
|
Total revenues from expenses and collective promotion
funds
|
5,057
|
3,754
|
Total revenues
|
19,070
|
14,917
|
|
Costs (i)
|
General and administrative expenses
|
Selling expenses
|
12.31.2022
|
12.31.2021
|
Salaries,
social security costs and other personnel expenses
|
1,504
|
1,263
|
139
|
2,906
|
3,008
|
Maintenance,
security, cleaning, repairs and others
|
1,929
|
130
|
2
|
2,061
|
1,841
|
Taxes,
rates and contributions
|
527
|
3
|
456
|
986
|
1,469
|
Advertising
and other selling expenses
|
1,763
|
-
|
109
|
1,872
|
991
|
Director´s
fees (Note 22)
|
-
|
771
|
-
|
771
|
721
|
Amortization
and depreciation
|
561
|
176
|
2
|
739
|
682
|
Fees
and payments for services
|
25
|
299
|
69
|
393
|
407
|
Leases
and services’ charges
|
139
|
63
|
5
|
207
|
216
|
Traveling,
transportation and stationery expenses
|
27
|
41
|
6
|
74
|
120
|
Cost
of sales of trading properties
|
26
|
-
|
-
|
26
|
78
|
Allowance
for doubtful accounts (charge and recovery, net) (Note
13)
|
-
|
-
|
(7)
|
(7)
|
74
|
Bank
expenses
|
-
|
42
|
-
|
42
|
27
|
Others
|
19
|
-
|
-
|
19
|
15
|
Total expenses by nature as of 12.31.2022
|
6,520
|
2,788
|
781
|
10,089
|
-
|
Total expenses by nature as of 12.31.2021
|
5,556
|
2,807
|
1,286
|
-
|
9,649
|
|
12.31.2022
|
12.31.2021
|
Lawsuits
and other contingencies (i)
|
(37)
|
(201)
|
Donations
|
(54)
|
(66)
|
Administration
fees
|
205
|
175
|
Interest
and allowances generated by operating assets
|
170
|
129
|
Others
|
(7)
|
(123)
|
Total other operating results, net
|
277
|
(86)
|
|
12.31.2022
|
12.31.2021
|
Interest
income
|
48
|
185
|
Total finance income
|
48
|
185
|
Interest
expense
|
(4,060)
|
(6,730)
|
Other
finance costs
|
(287)
|
(598)
|
Total finance costs
|
(4,347)
|
(7,328)
|
Net
exchange difference
|
1,504
|
13,509
|
Fair
value net gain from financial assets and liabilities at fair value
through profit or loss, net
|
334
|
1,288
|
(Loss)/
gain from derivative financial instruments, net
|
(3)
|
2
|
Gain
from repurchase of non-convertible notes
|
1
|
1,184
|
Other
financial results
|
(274)
|
27
|
Total other financial results
|
1,562
|
16,010
|
Inflation
adjustment
|
8,521
|
1,095
|
Total financial results, net
|
5,784
|
9,962
|
Item
|
12.31.2022
|
06.30.2022
|
Rights
of use assets
|
452
|
853
|
Trade
and other receivables
|
7,704
|
2,708
|
Investments
in financial assets
|
2,114
|
2,473
|
Trade
and other payables
|
(1,266)
|
(2,141)
|
Borrowings
|
(16,535)
|
(15,801)
|
Total
|
(7,531)
|
(11,908)
|
Related parties
|
12.31.2022
|
06.30.2022
|
Operation description
|
Cresud
S.A.C.I.F. y A.
|
5
|
7
|
Leases
and / or rights of use receivable
|
|
2,114
|
2,473
|
Bonds
|
|
(233)
|
(596)
|
Rentals
and services received
|
|
(305)
|
(291)
|
Invoices
to be received
|
|
(3)
|
(4)
|
Long-term
incentive plan payable
|
|
(1)
|
(2)
|
Other
liabilities
|
Total parent company
|
1,577
|
1,587
|
|
Shopping
Neuquen S.A.
|
452
|
853
|
Rights
of use assets
|
|
1
|
50
|
Leases
and / or rights of use receivable
|
|
224
|
280
|
Borrowings
granted
|
|
(2)
|
-
|
Rentals
and services received
|
Panamerican
Mall S.A.
|
75
|
129
|
Leases
and / or rights of use receivable
|
|
1
|
2
|
Long-term
incentive plan
|
|
(25)
|
(11)
|
Other
liabilities
|
Arcos
del Gourmet S.A.
|
31
|
58
|
Leases
and / or rights of use receivable
|
|
-
|
-
|
Rentals
and services received
|
|
(1)
|
(7)
|
Other
liabilities
|
Nuevo
Puerto Santa Fe S.A.
|
21
|
23
|
Leases
and / or rights of use receivable
|
|
1
|
1
|
Long-term
incentive plan
|
|
-
|
(3)
|
Rentals
and services received
|
|
-
|
(3)
|
Other
liabilities
|
Fibesa
S.A.
|
1
|
4
|
Leases
and / or rights of use receivable
|
|
6
|
-
|
Borrowings
granted
|
|
13
|
18
|
Long-term
incentive plan
|
|
(2)
|
-
|
Other
liabilities
|
|
(118)
|
(119)
|
Non-Convertible
Notes
|
|
-
|
(5)
|
Loans
received
|
E-Commerce
Latina S.A.
|
(983)
|
(985)
|
Loans
received
|
Ogden
Argentina S.A.
|
5
|
7
|
Leases
and / or rights of use receivable
|
|
660
|
653
|
Borrowings
granted
|
Entretenimiento
Universal S.A.
|
88
|
87
|
Borrowings
granted
|
Torodur
S.A.
|
(3)
|
(4)
|
Other
liabilities
|
|
(798)
|
(1,274)
|
Non-Convertible
Notes
|
|
(10,067)
|
(10,083)
|
Loans
received
|
Ritelco
S.A.
|
8
|
4
|
Leases
and / or rights of use receivable
|
|
(63)
|
(63)
|
Loans
received
|
Efanur
S.A. (*)
|
-
|
(392)
|
Loans
received
|
Centro
de Entretenimientos La Plata S.A.
|
-
|
86
|
Contributions
to be integrated
|
|
(1)
|
(2)
|
Rentals
and services received
|
We
Are Appa S.A.
|
-
|
6
|
Leases
and / or rights of use receivable
|
|
401
|
273
|
Borrowings
granted
|
|
(14)
|
(37)
|
Rentals
and services received
|
Other
subsidiaries, associates and joint ventures (1)
|
13
|
6
|
Leases
and / or rights of use receivable
|
|
1
|
-
|
Expenses
paid in advance
|
|
1
|
14
|
Advance
payments
|
|
25
|
37
|
Contributions
to be integrated
|
|
1
|
1
|
Long-term
incentive plan
|
|
(24)
|
(19)
|
Rentals
and services received
|
|
-
|
(12)
|
Invoices
to be received
|
|
(3)
|
(8)
|
Other
liabilities
|
|
-
|
(22)
|
Loans
received
|
Total subsidiaries, associates and joint ventures
|
(10,075)
|
(10,457)
|
|
Related parties
|
12.31.2022
|
06.30.2022
|
Operation description
|
Directors
|
-
|
-
|
Rentals
and services received
|
|
(442)
|
(879)
|
Directors'
fees provision
|
Total
directors
|
(442)
|
(879)
|
|
Cyrsa
S.A.
|
(62)
|
(66)
|
Loans
received
|
Consultores
Assets Management
|
27
|
28
|
Leases
and / or rights of use receivable
|
BHN
Vida S.A.
|
(5)
|
(5)
|
Guarantee
deposits received
|
|
(66)
|
(67)
|
Non-Convertible
Notes
|
IRSA
- Galerías Pacífico S.A. U.T.
|
1
|
2
|
Leases
and / or rights of use receivable
|
|
-
|
(1)
|
Invoices
to be received
|
|
(134)
|
(191)
|
Other
liabilities
|
|
(1,491)
|
(812)
|
Loans
received
|
New
Lipstick LLC
|
43
|
43
|
Leases
and / or rights of use receivable
|
IRSA
International LLC
|
(54)
|
(54)
|
Other
liabilities
|
|
(216)
|
(214)
|
Loans
received
|
|
310
|
-
|
Borrowings
granted
|
Tyrus
S.A.
|
10
|
6
|
Leases
and / or rights of use receivable
|
|
5,643
|
786
|
Borrowings
granted
|
|
(2,481)
|
(1,508)
|
Non-Convertible
Notes
|
|
(65)
|
-
|
Loans
received
|
Helmir
S.A.
|
(61)
|
(61)
|
Non-Convertible
Notes
|
Real
Estate Investment Group VII LP
|
-
|
(61)
|
Loans
received
|
Others
Related parties (2)
|
85
|
89
|
Leases
and / or rights of use receivable
|
|
1
|
1
|
Prepaid
expenses
|
|
2
|
4
|
Advance
payments to suppliers
|
|
-
|
3
|
Other
credits
|
|
(14)
|
(12)
|
Rentals
and services received
|
|
(22)
|
(23)
|
Non-Convertible
Notes
|
|
(42)
|
(46)
|
Loans
received
|
Total others
|
1,409
|
(2,159)
|
|
Total
|
(7,531)
|
(11,908)
|
|
Related parties
|
12.31.2022
|
12.31.2021
|
Operation description
|
Cresud
S.A.C.I.F. y A.
|
35
|
58
|
Leases
and/or rights of use
|
|
1,040
|
(245)
|
Financial
operations
|
|
-
|
(631)
|
Corporate
services
|
Total parent company
|
1,075
|
(818)
|
|
Arcos
del Gourmet S.A.
|
(17)
|
(10)
|
Leases
and/or rights of use
|
|
48
|
43
|
Fees
|
Fibesa
S.A.
|
1
|
4
|
Leases
and/or rights of use
|
|
-
|
2
|
Fees
|
|
(2)
|
6
|
Financial
operations
|
Ritelco
S.A.
|
(2)
|
8
|
Financial
operations
|
Torodur
S.A.
|
(35)
|
1,572
|
Financial
operations
|
Efanur
S.A.
|
29
|
31
|
Financial
operations
|
Helmir
S.A
|
-
|
2
|
Financial
operations
|
Tyrus
S.A.
|
7
|
(72)
|
Financial
operations
|
Lipstick
Management
|
-
|
23
|
Financial
operations
|
Shopping
Neuquen S.A.
|
(56)
|
(33)
|
Financial
operations
|
|
(444)
|
(425)
|
Leases
and/or rights of use
|
Ogden
Argentina S.A.
|
(6)
|
(70)
|
Financial
operations
|
Entretenimiento
Universal S.A.
|
(1)
|
(10)
|
Financial
operations
|
E-Commerce
Latina S.A.
|
(20)
|
(12)
|
Financial
operations
|
La
Rural S.A.
|
(1)
|
-
|
Leases
and/or rights of use
|
Panamerican
Mall S.A.
|
93
|
82
|
Fees
|
|
(32)
|
(8)
|
Leases
and/or rights of use
|
|
-
|
(47)
|
Financial
operations
|
Emprendimiento
Recoleta S.A.
|
(1)
|
2
|
Fees
|
Cyrsa
S.A.
|
4
|
8
|
Financial
operations
|
Centro
de Entretenimientos La Plata S.A.
|
(2)
|
(4)
|
Leases
and/or rights of use
|
We
are Appa S.A
|
6
|
6
|
Fees
|
|
6
|
2
|
Leases
and/or rights of use
|
Nuevo
Puerto Santa Fe S.A.
|
-
|
(2)
|
Leases
and/or rights of use
|
|
28
|
14
|
Fees
|
Quality
Invest S.A.
|
6
|
4
|
Fees
|
|
(12)
|
(2)
|
Leases
and/or rights of use
|
Total subsidiaries, associates and joint ventures
|
(403)
|
1,114
|
|
Directors
|
(771)
|
(721)
|
Fees
|
Senior
Management
|
-
|
(16)
|
Fees
|
Total Directors and Senior Management
|
(771)
|
(737)
|
|
BHN
Seguros Generales S.A.
|
-
|
21
|
Leases
and/or rights of use
|
BHN
Sociedad de Inversión S.A.
|
-
|
8
|
Leases
and/or rights of use
|
BHN
Vida S.A.
|
-
|
23
|
Leases
and/or rights of use
|
BACS
Administradora de Activos S.A.
|
-
|
18
|
Leases
and/or rights of use
|
Austral
Gold
|
-
|
4
|
Leases
and/or rights of use
|
|
(2)
|
4
|
Fees
|
Consultores
Assets Management
|
-
|
8
|
Leases
and/or rights of use
|
|
(2)
|
2
|
Fees
|
Hamonet
S.A.
|
3
|
(4)
|
Leases
and/or rights of use
|
Isaac
Elsztain e Hijos S.C.A.
|
7
|
(10)
|
Leases
and/or rights of use
|
Estudio
Zang, Bergel & Viñes
|
(26)
|
(33)
|
Fees
|
Banco
de Crédito y Securitización S.A.
|
-
|
43
|
Leases
and/or rights of use
|
Nuevas
Fronteras S.A.
|
20
|
-
|
Financial
operations
|
Fundación
IRSA
|
38
|
(33)
|
Donations
|
|
-
|
2
|
Leases
and/or rights of use
|
Museo
de los niños
|
(6)
|
(12)
|
Leases
and/or rights of use
|
Fundación
Puerta 18
|
(9)
|
(10)
|
Donations
|
IRSA
- Galerías Pacífico S.A. U.T.
|
(12)
|
14
|
Financial
operations
|
Fundación
IRSA
|
(38)
|
-
|
Donations
|
Hoteles
Argentinos SAU
|
-
|
2
|
Fees
|
Nuevas
Fronteras S.A.
|
-
|
16
|
Fees
|
|
(20)
|
4
|
Financial
operations
|
Other subsidiaries, associates and joint ventures
|
(47)
|
67
|
|
Total at the end of the period
|
(146)
|
(374)
|
|
Related parties
|
12.31.2022
|
12.31.2021
|
Operation description
|
Fibesa
S.A.
|
329
|
210
|
Dividends
received
|
Arcos
del Gourmet S.A
|
336
|
549
|
Dividends
received
|
Panamerican
Mall S.A.
|
469
|
-
|
Dividends
received
|
Nuevo
Puerto Santa Fe S.A.
|
143
|
-
|
Dividends
received
|
Totaldividends received
|
1,277
|
759
|
|
Palermo
Invest S.A.
|
(2)
|
(27)
|
Irrevocable
contributions
|
Inversora
Bolívar S.A.
|
(1)
|
(21)
|
Irrevocable
contributions
|
E-Commerce
Latina S.A.
|
-
|
(243)
|
Irrevocable
contributions
|
Tyrus
S.A.
|
-
|
(228)
|
Irrevocable
contributions
|
Hoteles
Argentinos SAU
|
-
|
(62)
|
Irrevocable
contributions
|
Quality
Invest S.A.
|
-
|
(58)
|
Irrevocable
contributions
|
Torodur
S.A
|
-
|
(335)
|
Irrevocable
contributions
|
Centro
de Entretenimientos La Plata S.A.
|
(152)
|
-
|
Irrevocable
contributions
|
Total contributions to subsidiaries
|
(155)
|
(974)
|
|
Item (1)
|
Amount (2)
|
Foreign exchange rate (3)
|
Total as of 12.31.2022
|
Total as of 06.30.2022
|
Assets
|
|
|
|
|
Trade and other receivables
|
|
|
|
|
US
Dollar
|
6.83
|
176.96
|
1,209
|
1,414
|
Euros
|
0.08
|
189.26
|
15
|
16
|
Receivables
with related parties
|
|
|
|
|
US
Dollar
|
40.84
|
177.16
|
7,236
|
1,914
|
Total
Trade and other receivables
|
|
|
8,460
|
3,344
|
Investments in financial assets
|
|
|
|
|
US
Dollar
|
11.23
|
176.96
|
1,987
|
1,029
|
Investment in financial assets with related parties
|
|
|
|
|
US
Dollar
|
10.83
|
177.16
|
1,918
|
2,472
|
Total Investments in financial assets
|
|
|
3,905
|
3,501
|
Cash and cash equivalents
|
|
|
|
|
US
Dollar
|
0.90
|
176.96
|
159
|
11,091
|
Total Cash and cash equivalents
|
|
|
159
|
11,091
|
Total Assets
|
|
|
12,524
|
17,936
|
|
|
|
|
|
Liabilities
|
|
|
|
|
Trade and other payables
|
|
|
|
|
US
Dollar
|
3.61
|
177.16
|
640
|
594
|
Euros
|
-
|
189.92
|
-
|
1
|
Payables with related parties
|
|
|
|
|
US
Dollar
|
0.38
|
177.16
|
68
|
87
|
Total Trade and other payables
|
|
|
708
|
682
|
Lease liabilities
|
|
|
|
|
US
Dollar
|
-
|
177.16
|
-
|
1
|
Total Lease liabilities
|
|
|
-
|
1
|
Borrowings
|
|
|
|
|
US
Dollar
|
395.48
|
177.16
|
70,064
|
86,217
|
Borrowings with related parties
|
|
|
|
|
US
Dollar
|
93.02
|
177.16
|
16,480
|
15,794
|
Total Borrowings
|
|
|
86,544
|
102,011
|
Total Liabilities
|
|
|
87,252
|
102,694
|
Operations not affecting cash flows
|
12.31.2022
|
12.31.
2021
|
|
|
|
Currency
translation adjustment
|
(572)
|
(820)
|
Decrease
in lease liabilities through a decrease in trade and other
receivables
|
-
|
6
|
Decrease
in income tax liabilities through an increase in
provisions
|
-
|
212
|
Increase
in dividends receivable through a decrease in investments in
subsidiaries, associates and joint ventures
|
-
|
302
|
Decrease
in dividends receivable through an increase in investments in
subsidiaries, associates and joint ventures
|
-
|
16
|
Other
changes in subsidiaries` equity
|
(449)
|
-
|
Issuance
of NCN
|
26,325
|
-
|
Decrease
in investment properties through an increase in property, plant and
equipment
|
10
|
-
|
Decrease
in trading properties through an increase in intangible
assets
|
333
|
-
|
Increase
in rights of use assets through an increase in lease
liabilities
|
44
|
-
|
Decrease
in investment properties through an decrease in financial
assets
|
52
|
-
|
Decrease
in investments in financial assets through a decrease in trade and
other payables
|
244
|
-
|
Decrease
in dividends receivable through an increase in investment in
financial assets
|
7
|
-
|
Decrease
in investments in subsidiaries, associates and joint ventures
through decrease in other liabilities
|
47
|
-
|
Decrease
in shareholders´ equity through decrease in investment in
financial assets
|
2,053
|
-
|
Decrease
in investments in subsidiaries, associates and joint ventures
through an increase in financial assets
|
250
|
-
|
Decrease
in investments in subsidiaries, associates and joint ventures
through an increase in trade and other receivables
|
4,805
|
-
|
Decrease
in investments in subsidiaries, associates and joint ventures
through a decrease in borrowings
|
424
|
-
|
Increase
in investment in subsidiaries, associates and joint ventures
through a decrease in trade and other receivables
|
72
|
-
|
Exhibit A - Property, plant and equipment
|
Note 7 Investment properties and Note 8 Property, plant and
equipment
|
Exhibit B - Intangible assets
|
Note 10 Intangible assets
|
Exhibit C - Equity investments
|
Note 6 Information about the main subsidiaries, associates and
joint ventures
|
Exhibit D - Other investments
|
Note 12 Financial instruments by category
|
Exhibit E - Provisions
|
Note 13 Trade and other receivables and Note 17
Provisions
|
Exhibit F - Cost of sales and services provided
|
Note 9 Trading properties and Note 19 Expenses by
nature
|
Exhibit G - Foreign currency assets and liabilities
|
Note 23 Foreign currency assets and liabilities
|
Storage of documentation responsible
|
|
Location
|
Iron Mountain Argentina S.A.
|
|
Av. Amancio Alcorta 2482, Autonomous City of Buenos
Aires
|
|
San Miguel de Tucumán 601, Carlos Spegazzini.
|
|
|
Torcuato Di Tella 1800, Carlos Spegazzini.
|
|
|
Puente del Inca 2540, Carlos Spegazzini
|
PRICE
WATERHOUSE & CO. S.R.L.
(Partner)
|
|
ABELOVICH,
POLANO & ASOCIADOS S.R.L.
(Partner)
|
C.P.C.E.C.A.B.A.
Tº 1 Fº 17
|
|
C.P.C.E.C.A.B.A.
T° 1 F° 30
|
Carlos Brondo
Public Accountant (UNCUYO)
C.P.C.E.C.A.B.A. T° 391 F° 078
|
|
Noemí
I. Cohn
Public
Accountant (U.B.A.)
C.P.C.E.C.A.B.A.
T° 116 F° 135
|
(in millions of ARS)
|
IQ 23 |
IQ 22
|
YoY Var
|
6M 23
|
6M 22
|
YoY Var
|
Revenues
|
17,205
|
12,120
|
42.0%
|
30,890
|
21,527
|
43.5%
|
Result
from fair value adjustment of investment properties
|
(21,755)
|
57,674
|
(137.7)%
|
(29,530)
|
43,731
|
(167.5)%
|
Result from operations
|
(16,184)
|
62,120
|
(126.1%
|
(17,422)
|
51,642
|
(133.7)%
|
Depreciation
and amortization
|
439
|
349
|
25.8%
|
694
|
670
|
3.6%
|
EBITDA (1)
|
(15,745)
|
62,469
|
(125.2)%
|
(16,728)
|
52,312
|
(132.0)%
|
Adjusted EBITDA (1)
|
6,047
|
8,593
|
(29.6)%
|
13,903
|
12,630
|
10.1%
|
Result for the period
|
13,915
|
51,887
|
(73.2)%
|
15,436
|
49,712
|
(68.9)%
|
Attributable
to equity holders of the parent
|
13,727
|
51,392
|
(73.3)%
|
15,090
|
50,105
|
(69.9)%
|
Attributable
to non-controlling interest
|
188
|
495
|
(62.0)%
|
346
|
(393)
|
-
|
|
IIQ 23
|
IQ 23
|
IVQ 22
|
IIIQ 22
|
IIQ 22
|
Gross
leasable area (sqm)
|
336,240
|
336,240
|
335,666
|
335,690
|
335,279
|
Tenants’
sales (3 months cumulative in current currency)
|
119,233
|
100,240
|
101,998
|
82,772
|
106,117
|
Occupancy
|
93.9%
|
93.7%
|
93.1%
|
91.5%
|
89.1%
|
(in millions of ARS)
|
IIQ 23
|
IIQ 22
|
YoY Var
|
6M 23
|
6M 22
|
YoY Var
|
Revenues
from sales, leases, and services
|
8,712
|
6,893
|
26.4%
|
15,793
|
11,668
|
35.4%
|
Net
result from fair value adjustment on investment
properties
|
107
|
(3,591)
|
-
|
(5,897)
|
(11,530)
|
(48.9)%
|
Result from operations
|
7,027
|
1,345
|
422.5%
|
6,315
|
(3,470)
|
-
|
Depreciation
and amortization
|
132
|
84
|
57.1%
|
207
|
191
|
8.4%
|
EBITDA (1)
|
7,159
|
1,429
|
401.0%
|
6,522
|
(3,279)
|
-
|
Adjusted EBITDA (1)
|
7,052
|
5,020
|
40.5%
|
12,419
|
8,251
|
50.5%
|
|
Date of acquisition
|
Location
|
Gross Leasable Area (sqm)(1)
|
Stores
|
Occupancy (2)
|
IRSAInterest (3)
|
Alto
Palermo
|
Dec-97
|
City
of Buenos Aires
|
20,507
|
140
|
99.1%
|
100%
|
Abasto Shopping(4)
|
Nov-99
|
City
of Buenos Aires
|
37,163
|
160
|
98.6%
|
100%
|
Alto
Avellaneda
|
Dec-97
|
Province
of Buenos Aires
|
40,254
|
124
|
86.2%
|
100%
|
Alcorta
Shopping
|
Jun-97
|
City
of Buenos Aires
|
15,812
|
111
|
93.8%
|
100%
|
Patio
Bullrich
|
Oct-98
|
City
of Buenos Aires
|
11,664
|
91
|
92.1%
|
100%
|
Dot
Baires Shopping
|
May-09
|
City
of Buenos Aires
|
47,296
|
163
|
89.3%
|
80%
|
Soleil
|
Jul-10
|
Province
of Buenos Aires
|
15,734
|
73
|
100.0%
|
100%
|
Distrito
Arcos
|
Dec-14
|
City
of Buenos Aires
|
14,457
|
67
|
100.0%
|
90.0%
|
Alto
Noa Shopping
|
Mar-95
|
Salta
|
19,388
|
85
|
97.8%
|
100%
|
Alto
Rosario Shopping
|
Nov-04
|
Santa
Fe
|
34,858
|
136
|
96.4%
|
100%
|
Mendoza
Plaza Shopping
|
Dec-94
|
Mendoza
|
41,511
|
128
|
87.5%
|
100%
|
Córdoba
Shopping
|
Dec-06
|
Córdoba
|
15,368
|
103
|
100.0%
|
100%
|
La
Ribera Shopping
|
Aug-11
|
Santa
Fe
|
10,531
|
68
|
97.7%
|
50%
|
Alto
Comahue
|
Mar-15
|
Neuquén
|
11,697
|
89
|
98.0%
|
99.95%
|
Patio Olmos(5)
|
Sep-07
|
Córdoba
|
-
|
-
|
-
|
|
Total
|
|
|
336,240
|
1,538
|
93.9%
|
|
(ARS million)
|
IIQ 23
|
IIQ 22
|
YoY Var
|
Alto
Palermo
|
16,280
|
13,647
|
19.3%
|
Abasto
Shopping
|
16,799
|
13,050
|
28.7%
|
Alto
Avellaneda
|
12,095
|
9,585
|
26.2%
|
Alcorta
Shopping
|
9,868
|
9,842
|
0.3%
|
Patio
Bullrich
|
5,167
|
5,050
|
2.3%
|
Buenos Aires Design(1)
|
-
|
-
|
0.0%
|
Dot
Baires Shopping
|
9,522
|
8,648
|
10.1%
|
Soleil
|
6,147
|
5,956
|
3.2%
|
Distrito
Arcos
|
8,815
|
7,835
|
12.5%
|
Alto
Noa Shopping
|
4,597
|
4,451
|
3.3%
|
Alto
Rosario Shopping
|
13,885
|
12,578
|
10.4%
|
Mendoza
Plaza Shopping
|
6,404
|
6,621
|
-3.3%
|
Córdoba
Shopping
|
4,367
|
4,221
|
3.5%
|
La Ribera Shopping(2)
|
2,007
|
1,889
|
6.2%
|
Alto
Comahue
|
3,280
|
2,744
|
19.5%
|
Total sales
|
119,233
|
106,117
|
12.4%
|
(ARS million)
|
6M 23
|
6M 22
|
YoY Var
|
6M 21
|
6M 20
|
6M 19
|
Alto
Palermo
|
29,147
|
22,306
|
30.7%
|
22,248
|
22,248
|
22,248
|
Abasto
Shopping
|
31,475
|
21,624
|
45.6%
|
24,222
|
24,222
|
24,222
|
Alto
Avellaneda
|
21,639
|
15,988
|
35.3%
|
21,713
|
21,713
|
21,713
|
Alcorta
Shopping
|
17,154
|
16,283
|
5.3%
|
12,744
|
12,744
|
12,744
|
Patio
Bullrich
|
9,532
|
8,152
|
16.9%
|
8,179
|
8,179
|
8,179
|
Buenos Aires Design(1)
|
-
|
-
|
-
|
-
|
-
|
1,981
|
Dot
Baires Shopping
|
17,207
|
14,257
|
20.7%
|
18,603
|
18,603
|
18,603
|
Soleil
|
11,621
|
10,725
|
8.4%
|
9,382
|
9,382
|
9,382
|
Distrito
Arcos
|
16,703
|
13,405
|
24.6%
|
8,818
|
8,818
|
8,818
|
Alto
Noa Shopping
|
8,926
|
8,054
|
10.8%
|
7,770
|
7,770
|
7,770
|
Alto
Rosario Shopping
|
25,420
|
21,631
|
17.5%
|
17,336
|
17,336
|
17,336
|
Mendoza
Plaza Shopping
|
12,702
|
11,802
|
7.6%
|
13,614
|
13,614
|
13,614
|
Córdoba
Shopping
|
7,756
|
7,196
|
7.8%
|
5,914
|
5,914
|
5,914
|
La Ribera Shopping(2)
|
3,903
|
3,186
|
22.5%
|
4,026
|
4,026
|
4,026
|
Alto
Comahue
|
6,288
|
4,925
|
27.7%
|
5,525
|
5,525
|
5,525
|
Total sales
|
219,473
|
179,534
|
22.2%
|
180,094
|
180,094
|
182,075
|
(ARS million)
|
IIQ 23
|
IIQ 22
|
YoY Var
|
Department
Store
|
-
|
-
|
-
|
Clothes
and footwear
|
73,604
|
66,373
|
10.9%
|
Entertainment
|
1,979
|
2,145
|
(7.7)%
|
Home
and decoration
|
2,493
|
2,602
|
(4.2)%
|
Restaurants
|
11,069
|
8,640
|
28.1%
|
Miscellaneous
|
14,906
|
16,364
|
(8.9)%
|
Services
|
1,876
|
1,594
|
17.7%
|
Home
Appliances
|
13,306
|
8,399
|
58.4%
|
Total
|
119,233
|
106,117
|
12.4%
|
(ARS million)
|
6M 23
|
6M 22
|
YoY Var
|
6M 21
|
6M 20
|
6M 19
|
Department
Store
|
-
|
-
|
-
|
2,876
|
9,679
|
9,805
|
Clothes
and footwear
|
130,724
|
110,030
|
18.8%
|
47,847
|
102,001
|
100,268
|
Entertainment
|
5,821
|
3,787
|
53.7%
|
148
|
5,376
|
5,386
|
Home
and decoration
|
4,912
|
4,673
|
5.1%
|
2,120
|
3,673
|
6,325
|
Restaurants
|
22,678
|
15,641
|
45.0%
|
4,917
|
19,398
|
19,784
|
Miscellaneous
|
26,645
|
27,405
|
-2.8%
|
13,078
|
24,204
|
22,960
|
Services
|
3,643
|
2,775
|
31.3%
|
729
|
1,974
|
2,140
|
Home
Appliances
|
25,050
|
15,223
|
64.6%
|
9,122
|
14,558
|
15,407
|
Total
|
219,473
|
179,534
|
22.2%
|
80,837
|
180,863
|
182,075
|
(ARS million)
|
IIQ 23
|
IIQ 22
|
YoY Var
|
Base
rent
|
3,176
|
2,075
|
53.1%
|
Percentage
rent
|
4,066
|
3,721
|
9.3%
|
Total rent
|
7,242
|
5,796
|
24.9%
|
Non-traditional
advertising
|
183
|
152
|
20.4%
|
Revenues
from admission rights
|
658
|
485
|
35.7%
|
Fees
|
69
|
76
|
(9.2)%
|
Parking
|
348
|
249
|
39.8%
|
Commissions
|
201
|
125
|
60.8%
|
Other
|
11
|
10
|
10.0%
|
Subtotal
|
8,712
|
6,893
|
26.4%
|
Expenses
and Collective Promotion Fund
|
3,161
|
2,441
|
29.5%
|
Total
|
11,873
|
9,334
|
27.2%
|
(ARS million)
|
6M 23
|
6M 22
|
YoY Var
|
6M 21
|
6M 20
|
6M 19
|
Base
rent
|
5,909
|
3,609
|
63.7%
|
2,608
|
6,746
|
6.213
|
Percentage
rent
|
7,173
|
6,098
|
17.6%
|
1,362
|
4,243
|
2.681
|
Total rent
|
13,082
|
9,707
|
34.8%
|
3,970
|
10,989
|
8.894
|
Non-traditional
advertising
|
355
|
244
|
45.5%
|
123
|
263
|
326
|
Revenues
from admission rights
|
1,240
|
910
|
36.3%
|
962
|
1,821
|
1.420
|
Fees
|
136
|
152
|
-10.5%
|
162
|
189
|
168
|
Parking
|
649
|
383
|
69.5%
|
23
|
760
|
706
|
Commissions
|
308
|
242
|
27.3%
|
206
|
368
|
359
|
Other
|
23
|
30
|
-23.3%
|
267
|
80
|
503
|
Subtotal
|
15,793
|
11,668
|
35.4%
|
5,713
|
14,470
|
12.376
|
Expenses
and Collective Promotion Fund
|
5,858
|
4,507
|
30.0%
|
3,002
|
5,696
|
4.372
|
Total
|
21,651
|
16,175
|
33.9%
|
8,715
|
20,166
|
16.748
|
|
IIQ 23
|
IQ 23
|
IVQ 22
|
IIIQ 22
|
IIQ 22
|
Gross
Leasable area
|
82,708
|
82,708
|
83,892
|
103,777
|
109,859
|
Total
Occupancy
|
68.6%
|
68.5%
|
73.3%
|
66.4%
|
68.6%
|
Class
A+ & A Occupancy
|
83.7%
|
82.0%
|
85.5%
|
74.6%
|
76.7%
|
Class
B Occupancy
|
19.6%
|
24.9%
|
33.5%
|
30.9%
|
30.9%
|
Rent
USD/sqm
|
24.8
|
25.0
|
24.5
|
24.6
|
24.9
|
(in ARS
million)
|
IIQ 23
|
IIQ 22
|
YoY Var
|
6M 23
|
6M 22
|
YoY Var
|
Revenues
from sales, leases and services
|
830
|
827
|
0.4%
|
1,635
|
2,347
|
(30.3)%
|
Net
result from fair value adjustment on investment properties,
PP&E e inventories
|
(7,333)
|
4,302
|
(270.5)%
|
(7,934)
|
1,200
|
(761.2)%
|
Profit from operations
|
(6,704)
|
4,529
|
(248.0)%
|
(6,689)
|
2,636
|
(353.8)%
|
Depreciation
and amortization
|
40
|
81
|
(50.6)%
|
83
|
107
|
(22.4)%
|
EBITDA(1)
|
(6,664)
|
4,610
|
(244.6)%
|
(6,606)
|
2,743
|
(340.8)%
|
Adjusted EBITDA (1)
|
669
|
308
|
117.2%
|
1,328
|
1,543
|
(13.9)%
|
Offices & Others
|
Date of Acquisition
|
Gross Leasable Area (sqm)(1)
|
Occupancy (2)
|
Actual Interest
|
6M 23 - Rental revenues (ARS thousand) (4)
|
AAA & A Offices
|
|
|
|
|
|
Boston
Tower
|
Dec-14
|
|
|
|
1,418
|
Intercontinental Plaza (3)
|
Dec-14
|
2,979
|
100.0%
|
100%
|
105,518
|
Dot
Building
|
Nov-06
|
11,242
|
78.5%
|
80%
|
208,817
|
Zetta
|
May-19
|
32,173
|
93.9%
|
80%
|
874,692
|
261 Della Paolera –
Catalinas(5)
|
Dec-20
|
16,832
|
64.8%
|
100%
|
370,165
|
Total AAA & A Offices
|
|
63,226
|
83.7%
|
|
1,560,610
|
|
|
|
|
|
|
B Offices
|
|
|
|
|
|
Suipacha
652/64
|
Dec-14
|
11,465
|
-
|
100%
|
-
|
Philips
|
Jun-17
|
8,017
|
47.6%
|
100%
|
74,188
|
Total B Buildings
|
|
19,482
|
19.6%
|
100%
|
74,188
|
Subtotal Offices
|
|
82,708
|
68.6%
|
|
1,634,798
|
(in ARS million)
|
IIQ 23
|
IIQ 22
|
YoY Var
|
6M 23
|
6M 22
|
YoY Var
|
Revenues
|
2,622
|
1,679
|
56.2%
|
4,971
|
2,694
|
84.5%
|
Profit from operations
|
772
|
387
|
99.5%
|
1,465
|
424
|
245.5%
|
Depreciation
and amortization
|
179
|
138
|
29.7%
|
259
|
271
|
(4.4)%
|
EBITDA
|
951
|
525
|
81.1%
|
1,724
|
695
|
148.1%
|
Hotels
|
Date of Acquisition
|
IRSA’s Interest
|
Number of rooms
|
Occupancy(4)
|
Intercontinental (1)
|
11/01/1997
|
76,34%
|
313
|
75.8%
|
Sheraton Libertador (2)
|
03/01/1998
|
100,00%
|
200
|
64.6%
|
Llao Llao(3)
|
06/01/1997
|
50,00%
|
205
|
71.4%
|
Total
|
-
|
-
|
718
|
71.4%
|
|
IIQ 23
|
IQ 23
|
IVQ 22
|
IIIQ 22
|
IIQ 22
|
Average
Occupancy
|
71.4%
|
62.7%
|
52.0%
|
45.2%
|
42.5%
|
Average
Rate per Room (USD/night)
|
208
|
227
|
172
|
234
|
205
|
(in ARS million)
|
IIQ 23
|
IIQ 22
|
YoY Var
|
6M 23
|
6M 22
|
YoY Var
|
Revenues
|
1,631
|
364
|
348.1%
|
2,172
|
390
|
456.9%
|
Net
result from fair value adjustment on investment
properties
|
(15,099)
|
56,928
|
(126.5)%
|
(16,342)
|
53,757
|
(130.4)%
|
Result from operations
|
(14,143)
|
56,044
|
(125.2)%
|
(15,532)
|
52,302
|
(129.7)%
|
Depreciation
and amortization
|
36
|
8
|
350.0%
|
49
|
19
|
157.9%
|
Net
result from fair value adjustment on investment
properties
|
37
|
3,798
|
(99.0)%
|
1,101
|
4,049
|
(72.8)%
|
EBITDA (1)
|
(14,107)
|
56,052
|
(125.2)%
|
(15,483)
|
52,321
|
(129.6)%
|
Adjusted EBITDA (1)
|
1,029
|
2,922
|
(64.8)%
|
1,960
|
2,613
|
(25.0)%
|
(in millions of ARS)
|
IIQ 23
|
IIQ 22
|
YoY Var
|
6M 23
|
6M 22
|
YoY Var
|
Revenues
|
196
|
46
|
326.1%
|
345
|
74
|
366.2%
|
Net
result from fair value adjustment on investment
properties
|
(23)
|
149
|
(115.4)%
|
(49)
|
175
|
(128.0)%
|
Result from operations
|
(3,650)
|
10
|
(36,600.0=%
|
(3,553)
|
(234)
|
1,418.4%
|
Depreciation
and amortization
|
53
|
42
|
26.2%
|
101
|
84
|
20.2%
|
EBITDA
|
(3,597)
|
52
|
(7,017.3)%
|
(3,452)
|
(150)
|
2,201.3%
|
Adjusted EBITDA
|
(3,574)
|
(97)
|
3,584.5%
|
(3,403)
|
(325)
|
947.1%
|
6M 23
|
Shopping Malls
|
Offices
|
Sales and Developments
|
Hotels
|
Others
|
Total
|
Result from operations
|
6,315
|
(6,689)
|
(15,532)
|
1,465
|
(3,553)
|
(17,994)
|
Depreciation
and amortization
|
207
|
83
|
49
|
259
|
101
|
699
|
EBITDA
|
6,522
|
(6,606)
|
(15,483)
|
1,724
|
(3,452)
|
(17,295)
|
6M 22
|
Shopping Malls
|
Offices
|
Sales and Developments
|
Hotels
|
Others
|
Total
|
Result from operations
|
(3,470)
|
2,636
|
52,302
|
424
|
(234)
|
51,658
|
Depreciation
and amortization
|
191
|
107
|
19
|
271
|
84
|
672
|
EBITDA
|
(3,279)
|
2,743
|
52,321
|
695
|
(150)
|
52,330
|
EBITDA Var
|
-
|
(340.8)%
|
(129.6)%
|
148.1%
|
2,201.3%
|
(133.0)%
|
|
Total as per segment
|
Joint ventures*
|
Expenses and CPF
|
Elimination of inter-segment transactions
|
Total as per Statements of Income
|
Revenues
|
24,916
|
(138)
|
6,112
|
-
|
30,890
|
Costs
|
(4,315)
|
63
|
(6,227)
|
-
|
(10,479)
|
Gross result
|
20,601
|
(75)
|
(115)
|
-
|
20,411
|
Result
from sales of investment properties
|
(30,222)
|
692
|
-
|
-
|
(29,530)
|
General
and administrative expenses
|
(3,984)
|
20
|
-
|
16
|
(3,948)
|
Selling
expenses
|
(1,303)
|
9
|
-
|
-
|
(1,294)
|
Other
operating results, net
|
(3,086)
|
(14)
|
55
|
(16)
|
(3,061)
|
Result from operations
|
(17,994)
|
632
|
(60)
|
-
|
(17,422)
|
Share
of loss of associates and joint ventures
|
1,737
|
(419)
|
-
|
-
|
1,318
|
Result before financial results and income tax
|
(16,257)
|
213
|
(60)
|
-
|
(16,104)
|
Description
|
Currency
|
Amount (USD MM) (1)
|
Interest Rate
|
Maturity
|
Bank
overdrafts
|
ARS
|
24.7
|
Floating
|
<
360 days
|
PAMSA
loan
|
USD
|
2.7
|
5.95%
|
Feb-23
|
Series II(3)
|
USD
|
121.0
|
8.75%
|
Mar-23
|
Series IX(4)
|
USD
|
56.1
|
10.0%
|
Mar-23
|
Series
I
|
USD
|
3.1
|
10.0%
|
Mar-23
|
Series
VIII
|
USD
|
10.8
|
10.0%
|
Nov-23
|
Series
XI
|
USD
|
12.8
|
5.0%
|
Mar-24
|
Series
XII
|
ARS
|
47.6
|
Floating
|
Mar-24
|
Series
XIII
|
USD
|
29.6
|
3.9%
|
Aug-24
|
Series
XIV
|
USD
|
156.0
|
8.75%
|
Jun-28
|
IRSA’s Total Debt
|
USD
|
464.4
|
|
|
Cash & Cash Equivalents + Investments
(2)
|
USD
|
158.3
|
|
|
IRSA’s Net Debt
|
USD
|
306.1
|
|
|
(in ARS
million)
|
12.31.2022
|
12.31.2021
|
12.31.2020
|
12.31.2019
|
12.31.2018
|
Non-current
assets
|
442,829
|
519,693
|
552,501
|
1,294,213
|
1,834,355
|
Current
assets
|
46,403
|
41,925
|
35,927
|
713,338
|
794,070
|
Total assets
|
489,232
|
561,618
|
588,428
|
2,007,551
|
2,628,425
|
Capital
and reserves attributable to the equity holders of the
parent
|
234,326
|
227,444
|
206,131
|
137,458
|
260,150
|
Non-controlling
interest
|
15,769
|
15,479
|
65,198
|
188,355
|
300,391
|
Total shareholders’ equity
|
250,095
|
242,923
|
271,329
|
325,813
|
560,541
|
Non-current
liabilities
|
182,808
|
281,455
|
251,264
|
1,244,345
|
1,659,484
|
Current
liabilities
|
56,329
|
37,240
|
65,835
|
437,393
|
408,400
|
Total liabilities
|
239,137
|
318,695
|
317,099
|
1,681,738
|
2,067,884
|
Total liabilities and shareholders’ equity
|
489,232
|
561,618
|
588,428
|
2,007,551
|
2,628,425
|
(in ARS
million)
|
12.31.2022
|
12.31.2021
|
12.31.2020
|
12.31.2019
|
12.31.2018
|
Profit from operations
|
(17,422)
|
51,642
|
27,164
|
28,973
|
(23,388)
|
Share
of profit of associates and joint ventures
|
1,318
|
(234)
|
(1,330)
|
(4,449)
|
(2,360)
|
Loss from operations before financing and taxation
|
(16,104)
|
51,408
|
25,834
|
24,524
|
(25,748)
|
Financial
income
|
269
|
307
|
201
|
435
|
1,832
|
Financial
cost
|
(5,174)
|
(7,513)
|
(9,313)
|
(11,502)
|
(20,702)
|
Other
financial results
|
2,545
|
14,914
|
9,303
|
(16,962)
|
6,835
|
Inflation
adjustment
|
8,616
|
837
|
3,261
|
973
|
(2,379)
|
Financial results, net
|
6,256
|
8,545
|
3,452
|
(27,056)
|
(14,414)
|
Results before income tax
|
(9,848)
|
59,953
|
29,286
|
(2,532)
|
(40,162)
|
Income
tax
|
25,284
|
(10,241)
|
(11,773)
|
(7,997)
|
13,117
|
Result for the period from continued operations
|
15,436
|
49,712
|
17,513
|
(10,529)
|
(27,045)
|
Result
for the period from discontinued operations after
taxes
|
-
|
-
|
(20,936)
|
29,967
|
(6,436)
|
Result of the period
|
15,436
|
49,712
|
(3,423)
|
19,438
|
(33,481)
|
Other
comprehensive results for the period
|
(570)
|
(845)
|
(23,946)
|
29,579
|
1,500
|
Total comprehensive result for the period
|
14,866
|
48,867
|
(27,369)
|
49,017
|
(31,981)
|
|
|
|
|
|
|
Attributable
to:
|
|
|
|
|
|
Equity
holders of the parent
|
14,518
|
49,285
|
(9,868)
|
(15,624)
|
(36,486)
|
Non-controlling
interest
|
348
|
(418)
|
(17,501)
|
64,641
|
4,505
|
(in ARS
million)
|
12.31.2022 |
12.31.2021
|
12.31.2020
|
12.31.2019
|
12.31.2018
|
Net
cash generated from operating activities
|
10,640
|
9,140
|
12,944
|
67,167
|
42,342
|
Net
cash generated from investing activities
|
3,371
|
12,406
|
150,086
|
55,321
|
1,021
|
Net
cash used in financing activities
|
(26,337)
|
(11,869)
|
(114,727)
|
(183,283)
|
5,064
|
Net (decrease) / increase in cash and cash equivalents
|
(12,326)
|
9,677
|
48,303
|
(60,795)
|
48,427
|
Cash
and cash equivalents at beginning of year
|
18,279
|
4,531
|
318,411
|
304,609
|
292,389
|
Cash
and cash equivalents reclassified to held for sale
|
-
|
-
|
-
|
(2,091)
|
(3,899)
|
Inflation
adjustment
|
(227)
|
(92)
|
(6)
|
(497)
|
(40)
|
Deconsolidation
of subsidiaries
|
-
|
-
|
(340,958)
|
-
|
-
|
Foreign
exchange (loss) / gain on cash and changes in fair value for cash
equivalents
|
(49)
|
35
|
(21,026)
|
17,971
|
(9,775)
|
Cash and cash equivalents at period-end
|
5,677
|
14,151
|
4,724
|
259,197
|
327,102
|
(in ARS
million)
|
12.31.2022
|
|
12.31.2021
|
|
12.31.2020
|
|
12.31.2019
|
|
12.31.2018
|
|
Liquidity
|
|
|
|
|
|
|
|
|
|
|
CURRENT
ASSETS
|
46,403
|
0.82
|
41,925
|
1.13
|
35,927
|
0.55
|
713,338
|
1.63
|
794,070
|
1.94
|
CURRENT
LIABILITIES
|
56,329
|
|
37,240
|
|
65,835
|
|
437,393
|
|
408,400
|
|
Solvency
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS’
EQUITY
|
250,095
|
1.05
|
242,923
|
0.76
|
271,329
|
0.86
|
325,813
|
0.19
|
560,541
|
0.27
|
TOTAL
LIABILITIES
|
239,137
|
|
318,695
|
|
317,099
|
|
1,681,738
|
|
2,067,884
|
|
Capital Assets
|
|
|
|
|
|
|
|
|
|
|
NON-CURRENT
ASSETS
|
442,829
|
0.91
|
519,693
|
0.93
|
552,501
|
0.94
|
1,294,213
|
0.64
|
1,834,355
|
0.70
|
TOTAL
ASSETS
|
489,232
|
|
561,618
|
|
588,428
|
|
2,007,551
|
|
2,628,425
|
|
Profitability
|
|
|
|
|
|
|
|
|
|
|
RESULT
OF THE PERIOD
|
15,436
|
0.06
|
49,712
|
0.20
|
(3,423)
|
-0.01
|
19,438
|
0.04
|
(33,481)
|
(0.08)
|
AVERAGE
SHAREHOLDERS’ EQUITY
|
246,509
|
|
252,260
|
|
298,571
|
|
443,177
|
|
417,565
|
|
For the six-month period ended December 31 (in ARS
million)
|
||
|
2022
|
2021
|
Profit
for the period
|
15,436
|
49,712
|
Interest
income
|
(269)
|
(307)
|
Interest
expense
|
4,779
|
6,832
|
Income
tax
|
(25,284)
|
10,241
|
Depreciation
and amortization
|
694
|
670
|
EBITDA (unaudited)
|
(4,644)
|
67,148
|
Net
gain / (loss) from fair value adjustment of investment
properties
|
29,530
|
(43,731)
|
Realized
net gain from fair value adjustment of investment
properties
|
1,101
|
4,049
|
Share
of profit of associates and joint ventures
|
(1,318)
|
234
|
Foreign
exchange differences net
|
(1,862)
|
(11,661)
|
Result
from derivative financial instruments
|
(23)
|
(21)
|
Fair
value gains of financial assets and liabilities at fair value
through profit or loss
|
(853)
|
(1,668)
|
Inflation
adjustment
|
(8,616)
|
(837)
|
Other
financial costs/income
|
588
|
(883)
|
Adjusted EBITDA (unaudited)
|
13,903
|
12,630
|
Adjusted EBITDA Margin (unaudited) (1)
|
45.01%
|
58.67%
|
For the six-month period ended December 31 (in ARS
million)
|
||
|
2022
|
2021
|
Gross
profit
|
20,411
|
13,315
|
Selling
expenses
|
(1,294)
|
(1,636)
|
Depreciation
and amortization
|
694
|
670
|
Realized
result from fair value of investment properties
|
1,101
|
4,049
|
NOI (unaudited)
|
20,912
|
16,398
|
For the six-month period ended December 31 (in ARS
million))
|
||
|
2022
|
2021
|
Result
for the period
|
15,436
|
49,712
|
Result
from fair value adjustments of investment properties
|
29,530
|
(43,731)
|
Result
from fair value adjustments of investment properties,
realized
|
1,101
|
4,049
|
Depreciation
and amortization
|
694
|
670
|
Foreign
exchange, net
|
(1,862)
|
(11,661)
|
Other
financial results
|
274
|
(26)
|
Results
from derivative financial instruments
|
(23)
|
(21)
|
Results
of financial assets and liabilities at fair value through profit or
loss
|
(853)
|
(1,668)
|
Other
financial costs
|
395
|
681
|
Income
tax current / deferred
|
(26,449)
|
9,606
|
Non-controlling
interest
|
(346)
|
393
|
Non-controlling
interest related to PAMSA’s fair value
|
(1,284)
|
(403)
|
Results
of associates and joint ventures
|
(1,318)
|
234
|
Inflation
adjustment
|
(8,616)
|
(837)
|
Repurchase
of non-convertible notes
|
(81)
|
(1,538)
|
Adjusted FFO
|
6,598
|
5,460
|