Type of
stock
|
CAPITAL STATUS
|
|
Shares
authorized for Public Offering (2)
|
Subscribed,
issued and paid-up nominal value
(in
millions of Pesos)
|
|
Common
stock with a face value of ARS 1 per share and entitled to 1 vote
each
|
811,122,208
|
811
|
1
|
|
Unaudited
Condensed Interim Consolidated Statements of Financial
Position
|
2
|
Unaudited
Condensed Interim Consolidated Statements of Income and Other
Comprehensive Income
|
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
|
10
|
Note 6
– Segment information
|
10
|
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
|
21
|
Note 19
– Taxes
|
21
|
Note 20
– Revenues
|
24
|
Note 21
– Expenses by nature
|
24
|
Note 22
– Cost of goods sold and services provided
|
24
|
Note 23
– Other operating results, net
|
25
|
Note 24
– Financial results, net
|
25
|
Note 25
– Related party transactions
|
26
|
Note 26
– CNV General Resolution N° 622
|
28
|
Note 27
– Foreign currency assets and liabilities
|
28
|
Note 28
– Other significant events of the period
|
29
|
Note 29
– Subsequent Events
|
29
|
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.
|
Zetol
|
|
Zetol
S.A.
|
|
|
|
|
Note
|
03.31.2023
|
06.30.2022
|
ASSETS
|
|
|
|
Non-current assets
|
|
|
|
Investment
properties
|
8
|
462,019
|
510,809
|
Property,
plant and equipment
|
9
|
8,175
|
13,916
|
Trading
properties
|
10,
22
|
5,316
|
5,296
|
Intangible
assets
|
11
|
6,107
|
5,885
|
Right-of-use
assets
|
12
|
2,431
|
2,163
|
Investments
in associates and joint ventures
|
7
|
29,220
|
28,099
|
Deferred
income tax assets
|
19
|
259
|
132
|
Income
tax credit
|
|
14
|
42
|
Trade
and other receivables
|
14
|
2,813
|
7,552
|
Investments
in financial assets
|
13
|
1,382
|
1,493
|
Total non-current assets
|
|
517,736
|
575,387
|
Current assets
|
|
|
|
Trading
properties
|
10,
22
|
103
|
336
|
Inventories
|
22
|
246
|
218
|
Income
tax credit
|
|
626
|
94
|
Trade
and other receivables
|
14
|
22,640
|
18,864
|
Investments
in financial assets
|
13
|
25,196
|
32,116
|
Cash
and cash equivalents
|
13
|
14,986
|
22,251
|
Total current assets
|
|
63,797
|
73,879
|
TOTAL ASSETS
|
|
581,533
|
649,266
|
SHAREHOLDERS’ EQUITY
|
|
|
|
Shareholders'
equity attributable to equity holders of the parent (according to
corresponding statement)
|
|
297,754
|
276,663
|
Non-controlling
interest
|
|
18,407
|
18,938
|
TOTAL SHAREHOLDERS’ EQUITY
|
|
316,161
|
295,601
|
LIABILITIES
|
|
|
|
Non-current liabilities
|
|
|
|
Borrowings
|
17
|
55,242
|
22,732
|
Lease
liabilities
|
|
2,133
|
1,999
|
Deferred
income tax liabilities
|
19
|
152,337
|
171,707
|
Trade
and other payables
|
16
|
6,623
|
6,195
|
Provisions
|
18
|
4,352
|
341
|
Salaries
and social security liabilities
|
|
90
|
162
|
Total non-current liabilities
|
|
220,777
|
203,136
|
Current liabilities
|
|
|
|
Borrowings
|
17
|
27,855
|
107,427
|
Lease
liabilities
|
|
314
|
139
|
Trade
and other payables
|
16
|
13,428
|
14,846
|
Income
tax liabilities
|
|
715
|
26,330
|
Provisions
|
18
|
676
|
345
|
Derivative
financial instruments
|
13
|
8
|
28
|
Salaries
and social security liabilities
|
|
1,599
|
1,414
|
Total current liabilities
|
|
44,595
|
150,529
|
TOTAL LIABILITIES
|
|
265,372
|
353,665
|
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES
|
|
581,533
|
649,266
|
|
.
Eduardo S. Elsztain
President
|
|
|
Nine months
|
Three months
|
||
|
Note
|
03.31.2023
|
03.31.2022
|
03.31.2023
|
03.31.2022
|
Revenues
|
20
|
53,876
|
39,759
|
16,273
|
13,554
|
Costs
|
21,
22
|
(18,456)
|
(15,239)
|
(5,700)
|
(5,242)
|
Gross profit
|
|
35,420
|
24,520
|
10,573
|
8,312
|
Net
(loss) / gain from fair value adjustment of investment
properties
|
8
|
(34,909)
|
(22,666)
|
1,039
|
(75,901)
|
General
and administrative expenses
|
21
|
(7,438)
|
(6,363)
|
(2,632)
|
(1,872)
|
Selling
expenses
|
21
|
(2,917)
|
(2,755)
|
(1,342)
|
(763)
|
Other
operating results, net
|
23
|
(4,764)
|
(153)
|
(1,038)
|
(57)
|
(Loss) / profit from operations
|
|
(14,608)
|
(7,417)
|
6,600
|
(70,281)
|
Share
of profit / (loss) of associates and joint ventures
|
7
|
1,380
|
(1,539)
|
(224)
|
(1,254)
|
(Loss) / profit before financial results and income
tax
|
|
(13,228)
|
(8,956)
|
6,376
|
(71,535)
|
Finance
income
|
24
|
498
|
590
|
171
|
216
|
Finance
costs
|
24
|
(10,014)
|
(12,993)
|
(3,716)
|
(3,847)
|
Other
financial results
|
24
|
8,127
|
30,098
|
5,029
|
11,943
|
Inflation
adjustment
|
24
|
10,946
|
2,464
|
458
|
1,445
|
Financial results, net
|
|
9,557
|
20,159
|
1,942
|
9,757
|
(Loss) / profit before income tax
|
|
(3,671)
|
11,203
|
8,318
|
(61,778)
|
Income
tax
|
19
|
35,439
|
12,298
|
4,660
|
24,765
|
Profit / (loss) for the period
|
|
31,768
|
23,501
|
12,978
|
(37,013)
|
Other comprehensive income:
|
|
|
|
|
|
Items that may be reclassified subsequently to profit or
loss:
|
|
|
|
|
|
Currency
translation adjustment
|
|
(862)
|
(1,397)
|
(381)
|
(368)
|
Revaluation
deficit
|
|
(213)
|
-
|
-
|
-
|
Total other comprehensive loss for the period (i)
|
|
(1,075)
|
(1,397)
|
(381)
|
(368)
|
Total comprehensive income / (loss) for the period
|
|
30,693
|
22,104
|
12,597
|
(37,381)
|
|
|
|
|
|
|
Profit / (loss) for the period attributable to:
|
|
|
|
|
|
Equity
holders of the parent
|
|
30,768
|
25,476
|
12,399
|
(35,518)
|
Non-controlling
interest
|
|
1,000
|
(1,975)
|
579
|
(1,495)
|
|
|
|
|
|
|
Total comprehensive income / (loss) attributable to:
|
|
|
|
|
|
Equity
holders of the parent
|
|
29,689
|
24,091
|
12,017
|
(35,905)
|
Non-controlling
interest
|
|
1,004
|
(1,987)
|
578
|
(1,479)
|
|
|
|
|
|
|
Profit / (loss) per share attributable to equity holders of the
parent: (ii)
|
|
|
|
|
|
Basic
|
|
38.44
|
31.49
|
15.49
|
(43.91)
|
Diluted
|
|
34.46
|
28.60
|
13.89
|
(43.91)
|
|
.
Eduardo S. Elsztain
President
|
|
Attributable to equity holders of the parent
|
|
|
||||||||||
|
Share capital
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding shares
|
Treasury shares
|
Inflation adjustment of share capital and treasury shares
(i)
|
Warrants (ii)
|
Share premium
|
Additional paid-in capital from treasury shares
|
Legal reserve
|
Special reserve Resolution CNV 609/12
|
Other reserves (iv)
|
Retained earnings
|
Subtotal
|
Non-controlling interest
|
Total Shareholders’ equity
|
Balance as of June 30, 2022
|
805
|
6
|
60,323
|
5,077
|
114,798
|
423
|
5,430
|
40,330
|
(10,889)
|
60,360
|
276,663
|
18,938
|
295,601
|
Profit
for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
30,768
|
30,768
|
1,000
|
31,768
|
Other
comprehensive (loss) / income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(1,079)
|
-
|
(1,079)
|
4
|
(1,075)
|
Total comprehensive (loss) / income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(1,079)
|
30,768
|
29,689
|
1,004
|
30,693
|
Assignment
of results according to A.G.O.
|
-
|
-
|
-
|
-
|
-
|
-
|
2,679
|
-
|
44,704
|
(47,383)
|
-
|
-
|
-
|
Warrants
exercise (ii)
|
-
|
-
|
-
|
(15)
|
36
|
-
|
-
|
-
|
-
|
-
|
21
|
-
|
21
|
Repurchase
of treasury shares (iii)
|
(5)
|
5
|
-
|
-
|
-
|
-
|
-
|
-
|
(983)
|
-
|
(983)
|
-
|
(983)
|
Dividends
distribution
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(7,559)
|
(7,559)
|
(1,555)
|
(9,114)
|
Other
changes in equity
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(59)
|
-
|
(59)
|
2
|
(57)
|
Reserve
for share-based payments
|
-
|
-
|
-
|
-
|
-
|
(6)
|
-
|
-
|
6
|
-
|
-
|
-
|
-
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(18)
|
-
|
(18)
|
18
|
-
|
Balance as of March 31, 2023
|
800
|
11
|
60,323
|
5,062
|
114,834
|
417
|
8,109
|
40,330
|
31,682
|
36,186
|
297,754
|
18,407
|
316,161
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of treasury stock
|
Reserve for future dividends
|
Currency translation adjustment reserve
|
Special reserve
|
Other reserves (1)
|
Total Other reserves
|
Balance as of June 30, 2022
|
(1,296)
|
7,259
|
878
|
2,329
|
(20,059)
|
(10,889)
|
Other
comprehensive loss for the period
|
-
|
-
|
(865)
|
-
|
(214)
|
(1,079)
|
Total comprehensive loss for the period
|
-
|
-
|
(865)
|
-
|
(214)
|
(1,079)
|
Assignment of results according
to A.G.O.
|
-
|
-
|
-
|
44,704
|
-
|
44,704
|
Repurchase
of treasury shares
|
(983)
|
-
|
-
|
-
|
-
|
(983)
|
Other
changes in equity
|
-
|
-
|
(59)
|
-
|
-
|
(59)
|
Reserve
for share-based payments
|
8
|
-
|
-
|
-
|
(2)
|
6
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
(18)
|
(18)
|
Balance as of March 31, 2023
|
(2,271)
|
7,259
|
(46)
|
47,033
|
(20,293)
|
31,682
|
|
.
Eduardo S. Elsztain
President
|
|
Attributable to equity holders of the parent
|
|
|
|||||||||||
|
Share capital
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Outstanding shares
|
Shares to issue
|
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
|
Other reserves (ii)
|
Retained earnings
|
Subtotal
|
Non-controlling interest
|
Total Shareholders’ equity
|
Balance as of June 30, 2021
|
657
|
-
|
2
|
60,115
|
5,079
|
68,854
|
423
|
4,578
|
40,330
|
77,951
|
(81,398)
|
176,591
|
59,666
|
236,257
|
Profit
/ (loss) for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
25,476
|
25,476
|
(1,975)
|
23,501
|
Other
comprehensive loss for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(1,385)
|
-
|
(1,385)
|
(12)
|
(1,397)
|
Total comprehensive (loss) / income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(1,385)
|
25,476
|
24,091
|
(1,987)
|
22,104
|
Assignment
of results according to A.G.O.
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(87,660)
|
87,660
|
-
|
-
|
-
|
Warrants
exercise
|
-
|
-
|
-
|
-
|
(2)
|
10
|
-
|
-
|
-
|
-
|
-
|
8
|
-
|
8
|
Repurchase
of own shares
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(67)
|
-
|
(67)
|
-
|
(67)
|
Capitalization
of irrevocable contributions
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
53
|
53
|
Dividends
distribution
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(186)
|
(186)
|
Incorporated
by merger
|
-
|
152
|
-
|
208
|
-
|
46,085
|
-
|
852
|
-
|
(999)
|
(6,076)
|
40,222
|
(40,396)
|
(174)
|
Balance as of March 31, 2022
|
657
|
152
|
2
|
60,323
|
5,077
|
114,949
|
423
|
5,430
|
40,330
|
(12,160)
|
25,662
|
240,845
|
17,150
|
257,995
|
|
Cost of treasury stock
|
Reserve for future dividends
|
Currency translation adjustment reserve
|
Special reserve
|
Other reserves (1)
|
Total Other reserves
|
Balance as of June 30, 2021
|
(731)
|
7,259
|
1,847
|
89,989
|
(20,413)
|
77,951
|
Other
comprehensive loss for the period
|
-
|
-
|
(1,385)
|
-
|
-
|
(1,385)
|
Total comprehensive loss for the period
|
-
|
-
|
(1,385)
|
-
|
-
|
(1,385)
|
Assignment
of results according to A.G.O.
|
-
|
-
|
-
|
(87,660)
|
-
|
(87,660)
|
Repurchase
of treasury shares
|
(67)
|
-
|
-
|
-
|
-
|
(67)
|
Incorporated
by merger
|
-
|
-
|
(33)
|
-
|
(966)
|
(999)
|
Balance as of March 31, 2022
|
(798)
|
7,259
|
429
|
2,329
|
(21,379)
|
(12,160)
|
|
.
Eduardo S. Elsztain
President
|
|
Note
|
03.31.2023
|
03.31.2022
|
Operating activities:
|
|
|
|
Net
cash generated from operations before income tax paid
|
15
|
21,880
|
14,893
|
Income
tax paid
|
|
(1,578)
|
(427)
|
Net cash generated from operating activities
|
|
20,302
|
14,466
|
Investing activities:
|
|
|
|
Contributions
and issuance of capital in associates and joint
ventures
|
|
(20)
|
(282)
|
Acquisition
and improvements of investment properties
|
|
(2,096)
|
(4,631)
|
Prepayment
for investment properties purchases
|
|
(1,690)
|
(4,574)
|
Proceeds
from sales of investment properties
|
|
18,271
|
23,406
|
Acquisitions
and improvements of property, plant and equipment
|
|
(385)
|
(284)
|
Proceeds
from sales of property, plant and equipment
|
|
2,212
|
-
|
Acquisitions
of intangible assets
|
|
(70)
|
(43)
|
Dividends
collected from associates and joint ventures
|
|
258
|
6,245
|
Proceeds
from loans granted
|
|
1
|
789
|
Proceeds
/ (payment) of derivative financial instruments
|
|
14
|
(123)
|
Acquisitions
of investments in financial assets
|
|
(14,743)
|
(17,486)
|
Proceeds
from disposal of investments in financial assets
|
|
19,887
|
16,220
|
Interest
collected
|
|
254
|
456
|
Increase
in loans granted to related parties
|
|
(1)
|
-
|
Proceeds
from sales of intangible assets
|
|
-
|
276
|
Net cash generated from investing activities
|
|
21,892
|
19,969
|
Financing activities:
|
|
|
|
Borrowings,
issuance and new placement of non-convertible notes
|
|
20,653
|
14,393
|
Payment
of borrowings and non-convertible notes
|
|
(53,989)
|
(17,353)
|
Payment
of short-term loans, net
|
|
(562)
|
(8,243)
|
Interests
paid
|
|
(8,579)
|
(13,559)
|
Repurchase
of non-convertible notes
|
|
-
|
(1,602)
|
Proceeds
from warrants exercise
|
|
21
|
8
|
Payment
of borrowings to related parties
|
|
(22)
|
(709)
|
Dividends
paid
|
|
(5,245)
|
(186)
|
Payment
of lease liabilities
|
|
(20)
|
(51)
|
Repurchase
of treasury shares
|
|
(983)
|
(67)
|
Net cash used in financing activities
|
|
(48,726)
|
(27,369)
|
Net
(decrease) / increase in cash and cash equivalents
|
|
(6,532)
|
7,066
|
Cash and cash
equivalents at beginning of period
|
|
22,251
|
5,514
|
Inflation
adjustment
|
|
(550)
|
(423)
|
Foreign
exchange loss on cash and changes in fair value for cash
equivalents
|
|
(183)
|
(539)
|
Cash and cash equivalents at end of period
|
13
|
14,986
|
11,618
|
|
.
Eduardo S. Elsztain
President
|
|
As of
March 31, 2023 (accumulated nine months)
|
Price
variation
|
74%
|
|
Nine months ended March 31, 2023
|
||||
|
Total
|
Joint ventures (1)
|
Expenses and collective promotion 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
|
43,529
|
(252)
|
10,599
|
-
|
53,876
|
Costs
|
(7,782)
|
119
|
(10,793)
|
-
|
(18,456)
|
Gross profit / (loss)
|
35,747
|
(133)
|
(194)
|
-
|
35,420
|
Net
loss from fair value adjustment of investment
properties
|
(35,784)
|
875
|
-
|
-
|
(34,909)
|
General
and administrative expenses
|
(7,507)
|
37
|
-
|
32
|
(7,438)
|
Selling
expenses
|
(2,933)
|
16
|
-
|
-
|
(2,917)
|
Other
operating results, net
|
(4,812)
|
(19)
|
99
|
(32)
|
(4,764)
|
Loss from operations
|
(15,289)
|
776
|
(95)
|
-
|
(14,608)
|
Share
of profit of associates and joint ventures
|
1,925
|
(545)
|
-
|
-
|
1,380
|
Segment loss
|
(13,364)
|
231
|
(95)
|
-
|
(13,228)
|
Reportable
assets
|
514,119
|
(3,184)
|
-
|
70,598
|
581,533
|
Reportable
liabilities
|
-
|
-
|
-
|
(265,372)
|
(265,372)
|
Net reportable assets
|
514,119
|
(3,184)
|
-
|
(194,774)
|
316,161
|
|
Nine months ended March 31, 2022
|
||||
|
Total
|
Joint ventures (1)
|
Expenses and collective promotion 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
|
31,939
|
(325)
|
8,176
|
(31)
|
39,759
|
Costs
|
(6,957)
|
123
|
(8,404)
|
(1)
|
(15,239)
|
Gross profit / (loss)
|
24,982
|
(202)
|
(228)
|
(32)
|
24,520
|
Net
loss from fair value adjustment of investment
properties
|
(24,932)
|
2,266
|
-
|
-
|
(22,666)
|
General
and administrative expenses
|
(6,451)
|
19
|
-
|
69
|
(6,363)
|
Selling
expenses
|
(2,751)
|
(4)
|
-
|
-
|
(2,755)
|
Other
operating results, net
|
(198)
|
-
|
82
|
(37)
|
(153)
|
Loss from operations
|
(9,350)
|
2,079
|
(146)
|
-
|
(7,417)
|
Share
of (loss) / profit of associates and joint ventures
|
(145)
|
(1,394)
|
-
|
-
|
(1,539)
|
Segment loss
|
(9,495)
|
685
|
(146)
|
-
|
(8,956)
|
Reportable
assets
|
534,525
|
(3,375)
|
-
|
64,503
|
595,653
|
Reportable
liabilities
|
-
|
-
|
-
|
(337,661)
|
(337,661)
|
Net reportable assets
|
534,525
|
(3,375)
|
-
|
(273,158)
|
257,992
|
|
Nine months ended March 31, 2023
|
|||||
|
Shopping Malls
|
Offices
|
Sales and developments
|
Hotels
|
Others
|
Total
|
Revenues
|
28,073
|
2,908
|
2,750
|
9,249
|
549
|
43,529
|
Costs
|
(1,937)
|
(241)
|
(748)
|
(4,411)
|
(445)
|
(7,782)
|
Gross profit
|
26,136
|
2,667
|
2,002
|
4,838
|
104
|
35,747
|
Net
loss from fair value adjustment of investment
properties
|
(10,518)
|
(4,435)
|
(20,746)
|
-
|
(85)
|
(35,784)
|
General
and administrative expenses
|
(3,686)
|
(417)
|
(1,362)
|
(1,401)
|
(641)
|
(7,507)
|
Selling
expenses
|
(1,351)
|
(57)
|
(850)
|
(611)
|
(64)
|
(2,933)
|
Other
operating results, net
|
(239)
|
(39)
|
(572)
|
(114)
|
(3,848)
|
(4,812)
|
Profit / (loss) from operations
|
10,342
|
(2,281)
|
(21,528)
|
2,712
|
(4,534)
|
(15,289)
|
Share
of profit of associates and joint ventures
|
-
|
-
|
-
|
-
|
1,925
|
1,925
|
Segment profit / (loss)
|
10,342
|
(2,281)
|
(21,528)
|
2,712
|
(2,609)
|
(13,364)
|
|
|
|
|
|
|
|
Investment
properties and trading properties
|
149,733
|
100,083
|
227,212
|
-
|
655
|
477,683
|
Investment
in associates and joint ventures
|
-
|
-
|
-
|
-
|
21,976
|
21,976
|
Other
operating assets
|
447
|
89
|
5,602
|
7,129
|
1,193
|
14,460
|
Operating assets
|
150,180
|
100,172
|
232,814
|
7,129
|
23,824
|
514,119
|
|
Nine months ended March 31, 2022
|
|||||
|
Shopping Malls
|
Offices
|
Sales and developments
|
Hotels
|
Others
|
Total
|
Revenues
|
21,517
|
4,194
|
603
|
5,494
|
131
|
31,939
|
Costs
|
(2,045)
|
(343)
|
(742)
|
(3,075)
|
(752)
|
(6,957)
|
Gross profit / (loss)
|
19,472
|
3,851
|
(139)
|
2,419
|
(621)
|
24,982
|
Net
(loss) / gain from fair value adjustment of investment
properties
|
(18,932)
|
(26,228)
|
20,048
|
-
|
180
|
(24,932)
|
General
and administrative expenses
|
(3,442)
|
(985)
|
(688)
|
(950)
|
(386)
|
(6,451)
|
Selling
expenses
|
(1,140)
|
(212)
|
(909)
|
(435)
|
(55)
|
(2,751)
|
Other
operating results, net
|
(243)
|
(78)
|
(16)
|
(20)
|
159
|
(198)
|
(Loss) / profit from operations
|
(4,285)
|
(23,652)
|
18,296
|
1,014
|
(723)
|
(9,350)
|
Share
of loss of associates and joint ventures
|
-
|
-
|
-
|
-
|
(145)
|
(145)
|
Segment (loss) / profit
|
(4,285)
|
(23,652)
|
18,296
|
1,014
|
(868)
|
(9,495)
|
|
|
|
|
|
|
|
Investment
properties and trading properties
|
138,858
|
150,117
|
206,027
|
-
|
835
|
495,837
|
Investment
in associates and joint ventures
|
-
|
-
|
-
|
-
|
19,243
|
19,243
|
Other
operating assets
|
531
|
4,717
|
4,852
|
7,148
|
2,197
|
19,445
|
Operating assets
|
139,389
|
154,834
|
210,879
|
7,148
|
22,275
|
534,525
|
|
|
|
|
|
|
|
|
March 31, 2023
|
June 30, 2022
|
Beginning of the period / year
|
28,085
|
34,721
|
Increase
of equity interest and capital contributions
|
44
|
1,803
|
Share
of profit / (loss)
|
1,380
|
(618)
|
Currency
translation adjustment
|
(31)
|
(824)
|
Dividends
|
(258)
|
(6,245)
|
Others
|
-
|
(752)
|
End of the period / year (i)
|
29,220
|
28,085
|
|
% ownership interest
|
Value of Group's interest in equity
|
Group's interest in comprehensive income / (loss)
|
|||
Name of the entity
|
March 31, 2023
|
June 30, 2022
|
March 31, 2023
|
June 30, 2022
|
March 31, 2023
|
March 31, 2022
|
Associates
|
|
|
|
|
|
|
New
Lipstick
|
49.96%
|
49.96%
|
244
|
249
|
(6)
|
230
|
BHSA
|
29.91%
|
29.91%
|
18,294
|
16,833
|
1,461
|
(161)
|
Quality
|
50.00%
|
50.00%
|
6,105
|
6,719
|
(658)
|
(1,395)
|
La
Rural S.A.
|
50.00%
|
50.00%
|
1,042
|
423
|
627
|
62
|
GCDI
(former TGLT S.A.) (1)
|
27.82%
|
27.82%
|
1,266
|
1,416
|
(150)
|
(709)
|
Other
joint ventures
|
N/A
|
N/A
|
2,269
|
2,445
|
75
|
(225)
|
Total associates and joint ventures
|
|
|
29,220
|
28,085
|
1,349
|
(2,198)
|
|
|
|
|
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
|
-
|
(*) (2)
|
(*) (43)
|
BHSA
|
Argentina
|
Financial
|
448,689,072
|
(**) 1,500
|
(**) 4,885
|
(**) 59,312
|
Quality
|
Argentina
|
Real
estate
|
101,126,564
|
2,843
|
(1,317)
|
11,943
|
La
Rural SA
|
Argentina
|
Organization
of events
|
714,998
|
1
|
598
|
1,516
|
GCDI
(former TGLT S.A.) (1)
|
Argentina
|
Real
estate
|
257,330,595
|
915
|
(2,458)
|
4,590
|
|
Nine months ended March 31, 2023
|
Year ended June 30, 2022
|
||
|
Nivel 2
|
Nivel 3
|
Nivel 2
|
Nivel 3
|
Fair value at the beginning of the period / year
|
363,231
|
147,578
|
267,295
|
255,781
|
Additions
|
738
|
1,348
|
12,825
|
3,574
|
Capitalized
leasing costs
|
11
|
27
|
40
|
33
|
Amortization
of capitalized leasing costs (i)
|
(13)
|
(11)
|
(63)
|
(16)
|
Transfers
|
1,646
|
719
|
108,591
|
(110,256)
|
Disposals
|
(18,334)
|
-
|
(50,709)
|
-
|
Currency
translation adjustment
|
(12)
|
-
|
(59)
|
-
|
Net
(loss) / gain from fair value adjustment (ii)
|
(25,271)
|
(9,638)
|
25,311
|
(1,538)
|
Fair value at the end of the period / year
|
321,996
|
140,023
|
363,231
|
147,578
|
|
03.31.2023
|
06.30.2022
|
Shopping
Malls
|
148,629
|
156,994
|
Offices
and other rental properties
|
109,068
|
129,469
|
Undeveloped
parcels of land
|
203,643
|
222,852
|
Properties
under development
|
256
|
988
|
Others
|
423
|
506
|
Total
|
462,019
|
510,809
|
|
|
|
|
03.31.2023
|
03.31.2022
|
Rental
and services income (Note 20)
|
42,182
|
34,030
|
Direct
operating expenses
|
(13,467)
|
(11,592)
|
Development
expenses
|
(152)
|
(386)
|
Net
realized gain from fair value adjustment of investment properties
(i)
|
9,767
|
9,602
|
Net
unrealized loss from fair value adjustment of investment
properties
|
(44,676)
|
(32,268)
|
|
Nine months ended March 31, 2023
|
Year ended June 30, 2022
|
|||
|
Buildings and facilities
|
Machinery and equipment
|
Others
|
Total
|
Total
|
Costs
|
23,294
|
7,297
|
1,652
|
32,243
|
29,038
|
Accumulated
depreciation
|
(10,176)
|
(6,886)
|
(1,265)
|
(18,327)
|
(17,197)
|
Net book amount at the beginning of the period / year
|
13,118
|
411
|
387
|
13,916
|
11,841
|
Additions
|
293
|
61
|
31
|
385
|
583
|
Disposals
|
(2,734)
|
-
|
-
|
(2,734)
|
(5)
|
Currency
translation adjustment
|
-
|
-
|
(3)
|
(3)
|
(5)
|
Transfers
|
(2,593)
|
15
|
-
|
(2,578)
|
2,632
|
Depreciation
charges (i)
|
(587)
|
(172)
|
(52)
|
(811)
|
(1,130)
|
Balances at the end of the period / year
|
7,497
|
315
|
363
|
8,175
|
13,916
|
Costs
|
18,260
|
7,373
|
1,680
|
27,313
|
32,243
|
Accumulated
depreciation
|
(10,763)
|
(7,058)
|
(1,317)
|
(19,138)
|
(18,327)
|
Net book amount at the end of the period / year
|
7,497
|
315
|
363
|
8,175
|
13,916
|
|
Nine months ended March 31, 2023
|
Year ended June 30, 2022
|
|||
|
Completed properties
|
Properties under development
|
Undeveloped sites
|
Total
|
Total
|
Beginning of the period / year
|
345
|
2,837
|
2,450
|
5,632
|
5,021
|
Additions
|
-
|
111
|
115
|
226
|
885
|
Currency
translation adjustment
|
-
|
(64)
|
-
|
(64)
|
(274)
|
Disposals
|
(4)
|
(343)
|
(28)
|
(375)
|
-
|
End of the period / year
|
341
|
2,541
|
2,537
|
5,419
|
5,632
|
Non-current
|
|
|
|
5,316
|
5,296
|
Current
|
|
|
|
103
|
336
|
Total
|
|
|
|
5,419
|
5,632
|
|
Nine months ended March 31, 2023
|
Year ended June 30, 2022
|
|||
|
Goodwill
|
Information systems and software
|
Contracts and others
|
Total
|
Total
|
Costs
|
386
|
2,297
|
6,009
|
8,692
|
9,403
|
Accumulated
amortization
|
-
|
(1,926)
|
(881)
|
(2,807)
|
(2,547)
|
Net book amount at the beginning of the period / year
|
386
|
371
|
5,128
|
5,885
|
6,856
|
Additions
|
-
|
70
|
406
|
476
|
179
|
Disposals
|
-
|
-
|
-
|
-
|
(820)
|
Impairment
|
-
|
-
|
-
|
-
|
(70)
|
Amortization
charges (i)
|
-
|
(240)
|
(14)
|
(254)
|
(260)
|
Balances at the end of the period / year
|
386
|
201
|
5,520
|
6,107
|
5,885
|
Costs
|
386
|
2,367
|
6,415
|
9,168
|
8,692
|
Accumulated
amortization
|
-
|
(2,166)
|
(895)
|
(3,061)
|
(2,807)
|
Net book amount at the end of the period / year
|
386
|
201
|
5,520
|
6,107
|
5,885
|
|
March 31, 2023
|
June 30, 2022
|
Real
Estate
|
383
|
30
|
Machinery
and equipment
|
-
|
3
|
Convention
center
|
2,048
|
2,130
|
Total Right-of-use assets
|
2,431
|
2,163
|
Non-current
|
2,431
|
2,163
|
Total
|
2,431
|
2,163
|
|
March 31, 2023
|
March 31, 2022
|
Real
Estate
|
89
|
74
|
Others
|
5
|
22
|
Total depreciation of right-of-use assets (i)
|
94
|
96
|
|
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
|
|
|
|
March 31, 2023
|
|
|
|
|
|
|
Assets as per Statement of Financial Position
|
|
|
|
|
|
|
Trade
and other receivables (excluding the allowance for doubtful
accounts and other receivables)
|
18,712
|
-
|
-
|
18,712
|
7,822
|
26,534
|
Investments
in financial assets:
|
|
|
|
|
|
|
-
Public companies’ securities
|
-
|
3,260
|
-
|
3,260
|
-
|
3,260
|
-
Mutual funds
|
-
|
15,381
|
-
|
15,381
|
-
|
15,381
|
-
Bonds
|
-
|
6,988
|
-
|
6,988
|
-
|
6,988
|
-
Others
|
495
|
454
|
-
|
949
|
-
|
949
|
Cash
and cash equivalents:
|
|
|
|
|
|
|
-
Cash at bank and on hand
|
3,751
|
-
|
-
|
3,751
|
-
|
3,751
|
-
Short-term investments
|
-
|
11,235
|
-
|
11,235
|
-
|
11,235
|
Total assets
|
22,958
|
37,318
|
-
|
60,276
|
7,822
|
68,098
|
|
|
|
|
|
|
|
|
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
|
|
|
|
March 31, 2023
|
|
|
|
|
|
|
Liabilities as per Statement of Financial Position
|
|
|
|
|
|
|
Trade
and other payables
|
5,810
|
-
|
-
|
5,810
|
14,241
|
20,051
|
Borrowings
|
83,097
|
-
|
-
|
83,097
|
-
|
83,097
|
Derivative
financial instruments:
|
|
|
|
|
|
|
-
Foreign-currency future contracts
|
-
|
5
|
-
|
5
|
-
|
5
|
-
Bond futures
|
-
|
3
|
-
|
3
|
-
|
3
|
Total liabilities
|
88,907
|
8
|
-
|
88,915
|
14,241
|
103,156
|
|
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)
|
21,000
|
-
|
-
|
21,000
|
6,902
|
27,902
|
Investments
in financial assets:
|
|
|
|
|
|
|
-
Public companies’ securities
|
-
|
2,344
|
-
|
2,344
|
-
|
2,344
|
-
Mutual funds
|
-
|
24,156
|
-
|
24,156
|
-
|
24,156
|
-
Bonds
|
-
|
6,629
|
-
|
6,629
|
-
|
6,629
|
-
Others
|
17
|
463
|
-
|
480
|
-
|
480
|
Cash
and cash equivalents:
|
|
|
|
|
|
|
-
Cash at bank and on hand
|
17,441
|
-
|
-
|
17,441
|
-
|
17,441
|
-
Short term investments
|
-
|
4,810
|
-
|
4,810
|
-
|
4,810
|
Total assets
|
38,458
|
38,402
|
-
|
76,860
|
6,902
|
83,762
|
|
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
|
7,733
|
-
|
-
|
7,733
|
13,308
|
21,041
|
Borrowings
|
130,159
|
-
|
-
|
130,159
|
-
|
130,159
|
Derivative
financial instruments:
|
|
|
|
|
|
|
-
Swaps
|
-
|
-
|
28
|
28
|
-
|
28
|
Total liabilities
|
137,892
|
-
|
28
|
137,920
|
13,308
|
151,228
|
Description
|
Pricing model / method
|
Parameters
|
Fair value hierarchy
|
Range
|
|
|
|
|
|
Derivative
financial instruments – Swaps
|
Theoretical
price
|
Underlying
asset price and volatility
|
Level |
-
|
|
March 31, 2023
|
June 30, 2022
|
Sale,
leases and services receivables
|
11,581
|
13,954
|
Less:
Allowance for doubtful accounts
|
(1,081)
|
(1,486)
|
Total trade receivables
|
10,500
|
12,468
|
Borrowings,
deposits and others
|
7,380
|
7,560
|
Advances
to suppliers
|
3,294
|
1,597
|
Tax
receivables
|
1,438
|
1,628
|
Prepaid
expenses
|
524
|
590
|
Long-term
incentive plan
|
1
|
1
|
Dividends
|
117
|
355
|
Others
|
2,199
|
2,217
|
Total other receivables
|
14,953
|
13,948
|
Total trade and other receivables
|
25,453
|
26,416
|
Non-current
|
2,813
|
7,552
|
Current
|
22,640
|
18,864
|
Total
|
25,453
|
26,416
|
|
March 31, 2023
|
June 30, 2022
|
Beginning of the period / year
|
1,486
|
2,430
|
Additions
(i)
|
130
|
435
|
Recovery
(i)
|
(93)
|
(491)
|
Exchange
rate differences
|
238
|
127
|
Receivables
written off during the period/year as uncollectible
|
-
|
(21)
|
Inflation
adjustment
|
(680)
|
(994)
|
End of the period / year
|
1,081
|
1,486
|
|
Note
|
Nine months ended March 31, 2023
|
Nine months ended March 31, 2022
|
Profit
for the period
|
|
31,768
|
23,501
|
Adjustments
for:
|
|
|
|
Income
tax
|
19
|
(35,439)
|
(12,298)
|
Amortization
and depreciation
|
21
|
1,183
|
1,180
|
Loss
from disposal of property, plant and equipment
|
|
553
|
-
|
Net
loss from fair value adjustment of investment
properties
|
|
34,909
|
22,666
|
Gain
from disposal of trading properties
|
|
(1,970)
|
-
|
Realization
of currency translation adjustment
|
|
(346)
|
-
|
Net
gain from disposal of intangible assets
|
|
-
|
(190)
|
Financial
results, net
|
|
(11,967)
|
(23,760)
|
Provisions
and allowances
|
|
6,863
|
1,729
|
Share
of (profit) / loss of associates and joint ventures
|
7
|
(1,380)
|
1,539
|
Changes in operating assets and liabilities:
|
|
|
|
Increase
in inventories
|
|
(86)
|
(14)
|
Decrease
/ (increase) in trading properties
|
|
103
|
(194)
|
Decrease
/ (increase) in trade and other receivables
|
|
338
|
(174)
|
(Decrease)
/ increase in trade and other payables
|
|
(2,728)
|
1,322
|
Increase
/ (decrease) in salaries and social security
liabilities
|
|
115
|
(272)
|
Decrease
in provisions
|
|
(36)
|
(142)
|
Net cash generated from operating activities before income tax
paid
|
|
21,880
|
14,893
|
|
|
|
|
Nine months ended March 31, 2023
|
Nine months ended March 31, 2022
|
Increase
of intangible assets through an increase of trade and other
payables
|
-
|
8
|
Decrease
in investment properties through an increase in property, plant and
equipment
|
15
|
2,672
|
Decrease
in lease liabilities through a decrease in trade and other
receivables
|
-
|
6
|
Increase
in intangible assets through a decrease in trading
properties
|
406
|
-
|
Increase
in intangible assets through an increase salaries and social
security liabilities
|
-
|
35
|
Currency
translation adjustment and other comprehensive income
|
1,075
|
1,397
|
Increase
in investment properties through an increase in trade and other
payables
|
28
|
321
|
Increase
in investments in associates through a decrease in investments in
financial assets
|
-
|
1,506
|
Issuance
of NCN
|
37,113
|
-
|
Decrease
in investments in financial assets through a decrease in trade and
other payables
|
297
|
-
|
Decrease
in dividends receivables through an increase in investments in
financial assets
|
8
|
-
|
Increase
in right-of-use assets through an increase of lease
liabilities
|
362
|
-
|
Decrease
in property, plant and equipment through an increase of revaluation
surplus
|
213
|
-
|
Decrease
in investment properties through a decrease in investments in
financial assets
|
63
|
-
|
Decrease
in property, plant and equipment through an increase in investment
properties
|
2,593
|
-
|
Decrease
in Shareholders’ Equity through a decrease in investments in
financial assets
|
2,500
|
-
|
Decrease
in Shareholders’ Equity through a decrease in trade and other
receivables
|
1,369
|
-
|
Increase
in investments in associates and joint ventures through a decrease
in trade and other receivables
|
24
|
-
|
|
March 31, 2023
|
June 30, 2022
|
Customers´
advances (*)
|
6,740
|
6,341
|
Trade
payables
|
2,151
|
2,785
|
Accrued
invoices
|
1,744
|
2,053
|
Admission
fees
|
5,720
|
4,485
|
Other
income to be accrued
|
155
|
167
|
Tenant
deposits
|
94
|
117
|
Total trade payables
|
16,604
|
15,948
|
Taxes
payable
|
1,626
|
2,315
|
Other
payables
|
1,821
|
2,778
|
Total other payables
|
3,447
|
5,093
|
Total trade and other payables
|
20,051
|
21,041
|
Non-current
|
6,623
|
6,195
|
Current
|
13,428
|
14,846
|
Total
|
20,051
|
21,041
|
|
|
|
|
Total as of March 31, 2023
|
Total as of June 30, 2022
|
Fair value as of March 31, 2023
|
Fair value as of June 30, 2022
|
NCN
|
72,911
|
115,324
|
72,815
|
108,697
|
Bank
loans
|
22
|
1,763
|
22
|
1,773
|
Bank
overdrafts
|
7,701
|
10,225
|
7,701
|
10,225
|
Other
borrowings
|
1,391
|
1,768
|
1,391
|
1,768
|
AABE
Debt
|
702
|
705
|
702
|
705
|
Loans
with non-controlling interests
|
370
|
374
|
370
|
374
|
Total borrowings
|
83,097
|
130,159
|
83,001
|
123,542
|
Non-current
|
55,242
|
22,732
|
|
|
Current
|
27,855
|
107,427
|
|
|
Total
|
83,097
|
130,159
|
|
|
|
Nine months ended March 31, 2023
|
Year ended June 30, 2022
|
||
|
Legal claims
|
Investments in associates and joint ventures (ii)
|
Total
|
Total
|
Beginning of period / year
|
672
|
14
|
686
|
745
|
Additions
(i)
|
5,333
|
-
|
5,333
|
594
|
Share
of profit of associates
|
-
|
(14)
|
(14)
|
(7)
|
Recovery
(i)
|
(146)
|
-
|
(146)
|
(138)
|
Used
during the period / year
|
(36)
|
-
|
(36)
|
(169)
|
Inflation
adjustment
|
(795)
|
-
|
(795)
|
(339)
|
End of period / year
|
5,028
|
-
|
5,028
|
686
|
Non-current
|
|
|
4,352
|
341
|
Current
|
|
|
676
|
345
|
Total
|
|
|
5,028
|
686
|
|
March 31, 2023
|
March 31, 2022
|
Current
income tax (i)
|
15,942
|
(12,124)
|
Deferred
income tax
|
19,497
|
24,422
|
Income tax
|
35,439
|
12,298
|
|
Nine months ended March 31, 2023
|
Nine months ended March 31, 2022
|
Loss / (profit) for the period at tax rate applicable in the
respective countries
|
1,319
|
(3,281)
|
Permanent differences:
|
|
|
Share
of profit of associates and joint ventures
|
(204)
|
(335)
|
Unrecognized
tax loss carryforwards
|
(3,663)
|
9,786
|
Difference
between provision and tax return
|
3,998
|
582
|
Inflation
adjustment permanent difference
|
16,190
|
19,053
|
Non-taxable
profit, non-deductible expenses and others
|
15,861
|
(1,399)
|
Tax
inflation adjustment
|
1,938
|
(12,108)
|
Income tax
|
35,439
|
12,298
|
|
March 31, 2023
|
June 30, 2022
|
Beginning of period / year
|
(171,575)
|
(195,069)
|
Revaluation
surplus reserve
|
-
|
(432)
|
Deferred
income tax charge
|
19,497
|
23,926
|
End of period / year
|
(152,078)
|
(171,575)
|
Deferred
income tax assets
|
259
|
132
|
Deferred
income tax liabilities
|
(152,337)
|
(171,707)
|
Deferred income tax liabilities, net
|
(152,078)
|
(171,575)
|
|
Nine months ended March 31, 2023
|
Nine months ended March 31, 2022
|
Base
rent
|
15,071
|
12,882
|
Contingent
rent
|
11,513
|
10,432
|
Admission
rights
|
2,476
|
1,750
|
Parking
fees
|
1,220
|
717
|
Commissions
|
658
|
486
|
Property
management fees
|
275
|
295
|
Others
|
283
|
194
|
Averaging
of scheduled rent escalation
|
87
|
(918)
|
Rentals and services income
|
31,583
|
25,838
|
Revenue
from hotels operation and tourism services
|
9,247
|
5,491
|
Sale
of trading properties
|
2,447
|
238
|
Total revenues from sales, rentals and services
|
43,277
|
31,567
|
Expenses
and collective promotion fund
|
10,599
|
8,192
|
Total revenues from expenses and collective promotion
funds
|
10,599
|
8,192
|
Total Group’s revenues
|
53,876
|
39,759
|
|
Costs
|
General and administrative expenses
|
Selling expenses
|
Total as of March 31, 2023
|
Total as of March 31, 2022
|
Cost
of sale of goods and services
|
1,193
|
-
|
-
|
1,193
|
518
|
Salaries,
social security costs and other personnel expenses
|
6,280
|
3,175
|
475
|
9,930
|
8,247
|
Depreciation
and amortization
|
827
|
348
|
8
|
1,183
|
1,180
|
Fees
and payments for services
|
314
|
1,002
|
697
|
2,013
|
1,613
|
Maintenance,
security, cleaning, repairs and others
|
4,951
|
539
|
6
|
5,496
|
5,105
|
Advertising
and other selling expenses
|
3,117
|
3
|
211
|
3,331
|
1,975
|
Taxes,
rates and contributions
|
1,212
|
311
|
1,454
|
2,977
|
3,387
|
Director´s
fees
|
-
|
1,639
|
-
|
1,639
|
1,342
|
Leases
and service charges
|
230
|
116
|
6
|
352
|
471
|
Allowance
for doubtful accounts, net
|
-
|
-
|
37
|
37
|
15
|
Other
expenses
|
332
|
305
|
23
|
660
|
504
|
Total as of March 31, 2023
|
18,456
|
7,438
|
2,917
|
28,811
|
-
|
Total as of March 31, 2022
|
15,239
|
6,363
|
2,755
|
-
|
24,357
|
|
|
|
|
|
|
|
Total as of March 31, 2023
|
Total as of March 31, 2022
|
Inventories
at the beginning of the period
|
5,850
|
5,226
|
Purchases
and expenses
|
18,710
|
15,990
|
Currency
translation adjustment
|
(64)
|
(263)
|
Disposals
|
(375)
|
-
|
Inventories
at the end of the period
|
(5,665)
|
(5,714)
|
Total costs
|
18,456
|
15,239
|
|
Total as of March 31, 2023
|
Total as of June 30, 2022
|
Real
estate
|
5,419
|
5,632
|
Others
|
246
|
218
|
Total inventories at the end of the period (*)
|
5,665
|
5,850
|
|
Nine months ended March 31, 2023
|
Nine months ended March 31, 2022
|
Realization
of currency translation adjustment (*)
|
346
|
-
|
Donations
|
(101)
|
(159)
|
Lawsuits
and other contingencies
|
(5,187)
|
(372)
|
Administration
fees
|
66
|
37
|
Interest
and allowances generated by operating credits
|
372
|
166
|
Loss
from disposal of property, plant and equipment
|
(553)
|
-
|
Others
|
293
|
175
|
Total other operating results, net
|
(4,764)
|
(153)
|
|
Nine months ended March 31, 2023
|
Nine months ended March 31, 2022
|
Finance
income:
|
|
|
-
Interest income
|
498
|
590
|
Total finance income
|
498
|
590
|
Finance
costs:
|
|
|
-
Interest expenses
|
(9,070)
|
(11,813)
|
-
Other finance costs
|
(944)
|
(1,180)
|
Total finance costs
|
(10,014)
|
(12,993)
|
Other
financial results:
|
|
|
-
Fair value gain of financial assets and liabilities at fair value
through profit or loss, net
|
2,940
|
4,872
|
-
Exchange rate differences, net
|
4,993
|
21,876
|
-
Gain from repurchase of negotiable obligations
|
195
|
2,476
|
-
Gain from derivative financial instruments, net
|
43
|
28
|
-
Other financial results
|
(44)
|
846
|
Total other financial results
|
8,127
|
30,098
|
- Inflation
adjustment
|
10,946
|
2,464
|
Total financial results, net
|
9,557
|
20,159
|
Item
|
March 31, 2023
|
June 30, 2022
|
Trade
and other receivables
|
5,999
|
7,632
|
Investments
in financial assets
|
2,941
|
4,936
|
Borrowings
|
(252)
|
(289)
|
Trade
and other payables
|
(1,766)
|
(1,940)
|
Total
|
6,922
|
10,339
|
Related party
|
March 31, 2023
|
June 30, 2022
|
Description of transaction
|
Item
|
New
Lipstick LLC
|
51
|
52
|
Reimbursement
of expenses receivable
|
Trade
and other receivables
|
Comparaencasa
Ltd.
|
455
|
476
|
Other
investments
|
Investments
in financial assets
|
|
-
|
(71)
|
Others
|
Trade
and other payables
|
Galerias
Pacifico
|
916
|
1,224
|
Others
|
Trade
and other receivables
|
La
Rural S.A.
|
440
|
428
|
Loans
granted
|
Trade
and other receivables
|
|
117
|
355
|
Dividends
|
Trade
and other receivables
|
|
(20)
|
(9)
|
Others
|
Trade
and other payables
|
|
9
|
7
|
Others
|
Trade
and other receivables
|
|
(1)
|
-
|
Leases
and/or rights of use payable
|
Trade
and other payables
|
Other
associates and joint ventures
|
-
|
2
|
Reimbursement
of expenses receivable
|
Trade
and other receivables
|
|
(72)
|
(106)
|
Borrowings
|
Borrowings
|
|
10
|
12
|
Leases
and/or rights of use receivable
|
Trade
and other receivables
|
|
17
|
35
|
Management
Fee
|
Trade
and other receivables
|
|
(107)
|
(110)
|
NCN
|
Borrowings
|
|
(29)
|
(73)
|
Others
|
Trade
and other payables
|
|
11
|
87
|
Others
|
Trade
and other receivables
|
|
1
|
2
|
Share
based payments
|
Trade
and other payables
|
Total associates and joint ventures
|
1,798
|
2,311
|
|
|
Cresud
|
-
|
9
|
Reimbursement
of expenses receivable
|
Trade
and other receivables
|
|
(642)
|
(1,079)
|
Corporate
services payable
|
Trade
and other payables
|
|
2,486
|
4,460
|
NCN
|
Investment
in financial assets
|
|
(173)
|
(3)
|
Others
|
Trade
and other payables
|
|
(3)
|
(5)
|
Share
based payments
|
Trade
and other payables
|
Total parent company
|
1,668
|
3,382
|
|
|
Futuros
y Opciones S.A.
|
2
|
3
|
Others
|
Trade
and other receivables
|
Helmir
S.A.
|
(73)
|
(73)
|
NCN
|
Borrowings
|
Total subsidiaries of parent company
|
(71)
|
(70)
|
|
|
Directors
|
(820)
|
(634)
|
Fees
for services received
|
Trade
and other payables
|
|
-
|
1,050
|
Advances
|
Trade
and other receivables
|
|
(1)
|
-
|
Others
|
Trade
and other payables
|
Yad
Leviim LTD
|
3,816
|
3,847
|
Loans
granted
|
Trade
and other receivables
|
Others
(1)
|
(12)
|
(23)
|
Legal
Services
|
Trade
and other payables
|
|
573
|
477
|
Others
|
Trade
and other receivables
|
|
(24)
|
(24)
|
Others
|
Trade
and other payables
|
|
(42)
|
(21)
|
Management
Fee
|
Trade
and other payables
|
|
37
|
44
|
Reimbursement
of expenses receivable
|
Trade
and other receivables
|
Total directors and others
|
3,527
|
4,716
|
|
|
Total at the end of the period / year
|
6,922
|
10,339
|
|
|
|
|
|
|
|
Related party
|
Nine months ended March 31, 2023
|
Nine months ended March 31, 2022
|
Description of transaction
|
BACS
|
-
|
92
|
Leases
and/or rights of use
|
Condor
|
3
|
45
|
Financial
operations
|
BHN
Vida S.A
|
(1)
|
43
|
Leases
and/or rights of use
|
BHN
Seguros Generales S.A.
|
(1)
|
41
|
Financial
operations
|
Lipstick
Management LLC
|
-
|
35
|
Leases
and/or rights of use
|
Metropolitan
885 Third Av. LLC
|
-
|
57
|
Financial
operations
|
Comparaencasa
Ltd.
|
24
|
337
|
Financial
operations
|
Otras
asociadas y negocios conjuntos
|
45
|
157
|
Financial
operations
|
|
(36)
|
(10)
|
Leases
and/or rights of use
|
|
56
|
31
|
Corporate
services
|
Total associates and joint ventures
|
90
|
828
|
|
Cresud
|
62
|
78
|
Leases
and/or rights of use
|
|
(1,728)
|
(1,518)
|
Corporate
services
|
|
1,095
|
(302)
|
Financial
operations
|
Total parent company
|
(571)
|
(1,742)
|
|
Helmir
|
(10)
|
4
|
Financial
operations
|
Total parent company
|
(10)
|
4
|
|
Directors
|
(1,639)
|
(1,342)
|
Fees
and remunerations
|
Senior
Management
|
(105)
|
(47)
|
Fees
and remunerations
|
Yad
Leviim LTD
|
131
|
151
|
Financial
operations
|
Others
(1)
|
(35)
|
25
|
Financial
operations
|
|
(8)
|
8
|
Leases
and/or rights of use
|
|
(80)
|
(88)
|
Donations
|
|
264
|
(53)
|
Legal
services
|
|
(47)
|
(16)
|
Fees
and remuneration
|
|
7
|
6
|
Legal
services
|
Total others
|
(1,512)
|
(1,356)
|
|
Total at the end of the period
|
(2,003)
|
(2,266)
|
|
|
|
|
|
Related party
|
Nine months ended March 31, 2023
|
Nine months ended March 31, 2022
|
Description of the operation
|
Quality
|
44
|
72
|
Capital
contributions
|
Condor
|
-
|
1,504
|
Exchange
of shares
|
Comparaencasa
|
-
|
212
|
Capital
contributions
|
Total capital contributions
|
44
|
1,788
|
|
Condor
|
84
|
6,245
|
Dividends
received
|
Nuevo
Puerto Santa Fe
|
174
|
-
|
Dividends
received
|
Total other transactions
|
258
|
6,245
|
|
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 and allowances
|
Note 14
Trade and other receivables and Note 18 Provisions
|
Exhibit
F - Cost of sales and services provided
|
Note 22
Cost 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 03.31.2023
|
Total as of 06.30.2022
|
Assets
|
|
|
|
|
Trade and other receivables
|
|
|
|
|
US
Dollar
|
26.82
|
208.61
|
5,595
|
5,944
|
Euros
|
0.08
|
226.15
|
18
|
19
|
Receivables with related parties:
|
|
|
|
|
US
Dollar
|
19.23
|
209.01
|
4,019
|
3,943
|
Total trade and other receivables
|
|
|
9,632
|
9,906
|
Investments in financial assets
|
|
|
|
|
US
Dollar
|
37.05
|
208.61
|
7,730
|
3,001
|
Pounds
|
0.77
|
257.15
|
198
|
171
|
New
Israel Shekel
|
7.45
|
58.16
|
433
|
1,000
|
Investments with related parties:
|
|
|
|
|
US
Dollar
|
13.06
|
209.01
|
2,730
|
4,988
|
Total investments in financial assets
|
|
|
11,091
|
9,160
|
Derivative financial instruments
|
|
|
|
|
US
Dollar
|
0.01
|
208.61
|
3
|
-
|
Total Derivative financial instruments
|
|
|
3
|
-
|
Cash and cash equivalents
|
|
|
|
|
US
Dollar
|
20.06
|
208.61
|
4,184
|
16,065
|
Euros
|
0.01
|
226.15
|
3
|
2
|
New
Israel Shekel
|
1.10
|
58.16
|
64
|
-
|
Total cash and cash equivalents
|
|
|
4,251
|
16,067
|
Total Assets
|
|
|
24,977
|
35,133
|
|
|
|
|
|
Liabilities
|
|
|
|
|
Trade and other payables
|
|
|
|
|
US
Dollar
|
10.24
|
209.01
|
2,140
|
1,869
|
Euros
|
-
|
227.11
|
-
|
2
|
Payables to related parties:
|
|
|
|
|
US
Dollar
|
0.04
|
209.01
|
8
|
104
|
Total Trade and other payables
|
|
|
2,148
|
1,975
|
Borrowings
|
|
|
|
|
US
Dollar
|
312.58
|
209.01
|
65,333
|
108,857
|
Borrowings with related parties
|
|
|
|
|
US
Dollar
|
1.13
|
209.01
|
237
|
242
|
Total Borrowings
|
|
|
65,570
|
109,099
|
Derivative financial instruments
|
|
|
|
|
US
Dollar
|
0.01
|
209.01
|
3
|
28
|
Total derivative financial instruments
|
|
|
3
|
28
|
Lease liabilities
|
|
|
|
|
US
Dollar
|
11.19
|
209.01
|
2,338
|
1,942
|
Total lease liabilities
|
|
|
2,338
|
1,942
|
Provisions
|
|
|
|
|
New
Israel Shekel
|
70.00
|
58.16
|
4,071
|
-
|
Total Provisions
|
|
|
4,071
|
-
|
Total Liabilities
|
|
|
74,130
|
113,044
|
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
|
03.31.2023
|
06.30.2022
|
ASSETS
|
|
|
|
Non-current assets
|
|
|
|
Investment
properties
|
7
|
349,127
|
392,008
|
Property,
plant and equipment
|
8
|
973
|
3,630
|
Trading
properties
|
9
|
2,531
|
2,444
|
Intangible
assets
|
10
|
5,519
|
5,281
|
Right
of use assets
|
11
|
601
|
1,041
|
Investments
in subsidiaries, associates and joint ventures
|
6
|
126,911
|
138,693
|
Income
tax credit
|
|
-
|
16
|
Trade
and other receivables
|
13
|
1,404
|
1,454
|
Total non-current assets
|
|
487,066
|
544,567
|
Current assets
|
|
|
|
Trading
properties
|
9
|
6
|
10
|
Inventories
|
|
92
|
94
|
Income
tax credit
|
|
583
|
63
|
Trade
and other receivables
|
13
|
18,837
|
13,303
|
Investments
in financial assets
|
12
|
19,076
|
28,557
|
Cash
and cash equivalents
|
12
|
11,161
|
18,264
|
Total current assets
|
|
49,755
|
60,291
|
TOTAL ASSETS
|
|
536,821
|
604,858
|
SHAREHOLDERS’ EQUITY
|
|
|
|
Shareholders'
equity (according to corresponding statements)
|
|
298,156
|
277,065
|
TOTAL SHAREHOLDERS’ EQUITY
|
|
298,156
|
277,065
|
LIABILITIES
|
|
|
|
Non-current liabilities
|
|
|
|
Trade
and other payables
|
15
|
4,966
|
4,580
|
Borrowings
|
16
|
58,017
|
35,211
|
Deferred
income tax liabilities
|
17
|
124,640
|
141,589
|
Provisions
|
18
|
261
|
333
|
Lease
liabilities
|
|
282
|
-
|
Total non-current liabilities
|
|
188,166
|
181,713
|
Current liabilities
|
|
|
|
Trade
and other payables
|
15
|
9,483
|
10,971
|
Salaries
and social security liabilities
|
|
884
|
787
|
Borrowings
|
16
|
39,589
|
109,085
|
Derivative
financial instruments
|
12
|
6
|
-
|
Income
tax liabilities
|
|
-
|
24,982
|
Provisions
|
18
|
492
|
253
|
Lease
liabilities
|
|
45
|
2
|
Total current liabilities
|
|
50,499
|
146,080
|
TOTAL LIABILITIES
|
|
238,665
|
327,793
|
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES
|
|
536,821
|
604,858
|
|
.
Edurado S. Elsztain
President
|
|
|
Nine
months
|
Three
months
|
||
|
Note
|
03.31.2023
|
03.31.2022
|
03.31.2023
|
03.31.2022
|
Revenues
|
19
|
33,365
|
26,983
|
10,151
|
8,824
|
Costs
|
20
|
(11,545)
|
(10,127)
|
(3,608)
|
(3,364)
|
Gross profit
|
|
21,820
|
16,856
|
6,543
|
5,460
|
Net
(loss) / gain from fair value adjustment of investment
properties
|
7
|
(25,986)
|
(3,146)
|
1,409
|
(59,503)
|
General
and administrative expenses
|
20
|
(5,284)
|
(4,787)
|
(1,890)
|
(1,370)
|
Selling
expenses
|
20
|
(2,044)
|
(2,092)
|
(1,093)
|
(527)
|
Other
operating results, net
|
21
|
(389)
|
37
|
(726)
|
142
|
(Loss) / profit from operations
|
|
(11,883)
|
6,868
|
4,243
|
(55,798)
|
Share
of loss of subsidiaries, associates and joint ventures
|
6
|
(2,931)
|
(12,609)
|
(556)
|
(9,785)
|
(Loss) / profit before financial results and income
tax
|
|
(14,814)
|
(5,741)
|
3,687
|
(65,583)
|
Finance
income
|
22
|
105
|
151
|
47
|
(74)
|
Finance
costs
|
22
|
(8,881)
|
(12,715)
|
(3,589)
|
(3,794)
|
Other
financial results
|
22
|
8,452
|
32,395
|
6,551
|
12,906
|
Inflation
adjustment
|
22
|
11,040
|
2,772
|
667
|
1,439
|
Financial results, net
|
|
10,716
|
22,603
|
3,676
|
10,477
|
(Loss) / profit before income tax
|
|
(4,098)
|
16,862
|
7,363
|
(55,106)
|
Income
tax
|
17
|
34,866
|
7,393
|
5,038
|
19,191
|
Profit / (loss) for the period
|
|
30,768
|
24,255
|
12,401
|
(35,915)
|
|
|
|
|
|
|
Other comprehensive loss:
|
|
|
|
|
|
Items that may be reclassified subsequently to profit or
loss:
|
|
|
|
|
|
Currency
translation adjustment and other comprehensive results of
subsidiaries, associates and joint ventures
|
|
(1,079)
|
(1,385)
|
(383)
|
(387)
|
Total other comprehensive loss for the period (i)
|
|
(1,079)
|
(1,385)
|
(383)
|
(387)
|
Total comprehensive income / (loss) for the period
|
|
29,689
|
22,870
|
12,018
|
(36,302)
|
|
|
|
|
|
|
Profit / (loss) per share for the period (ii)
|
|
|
|
|
|
Basic
|
|
38.44
|
29.99
|
15.49
|
(44.40)
|
Diluted
|
|
34.46
|
27.23
|
13.89
|
(44.40)
|
|
.
Edurado S. Elsztain
President
|
|
Share capital
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding shares
|
Treasury shares
|
Inflation adjustment of share capital and treasury shares
(i)
|
Share premium
|
Additional paid-in capital from treasury shares
|
Warrants (ii)
|
Legal reserve
|
Special Reserve Resolution CNV 609/12
|
Other reserves (iv)
|
Retained earnings
|
Total Shareholders’ equity
|
Balance as of June 30, 2022
|
805
|
6
|
60,323
|
114,798
|
423
|
5,077
|
5,430
|
40,343
|
(3,721)
|
53,581
|
277,065
|
Profit
for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
30,768
|
30,768
|
Other
comprehensive loss for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(1,079)
|
-
|
(1,079)
|
Total comprehensive (loss) / income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(1,079)
|
30,768
|
29,689
|
Repurchase
of treasury shares (iii)
|
(5)
|
5
|
-
|
-
|
-
|
-
|
-
|
-
|
(983)
|
-
|
(983)
|
Exercise
of warrants (ii)
|
-
|
-
|
-
|
36
|
-
|
(15)
|
-
|
-
|
-
|
-
|
21
|
Reserve
for share-based payments
|
-
|
-
|
-
|
-
|
(6)
|
-
|
-
|
-
|
6
|
-
|
-
|
Dividends
distribution
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(7,559)
|
(7,559)
|
Shareholders’
meeting held as of 10.28.22
|
-
|
-
|
-
|
-
|
-
|
-
|
2,679
|
-
|
44,704
|
(47,383)
|
-
|
Other
changes in shareholders’ equity
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(77)
|
-
|
(77)
|
Balance as of March 31, 2023
|
800
|
11
|
60,323
|
114,834
|
417
|
5,062
|
8,109
|
40,343
|
38,850
|
29,407
|
298,156
|
|
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
|
(1,296)
|
7,259
|
878
|
2,329
|
(12,891)
|
(3,721)
|
Other
comprehensive loss for the period
|
-
|
-
|
(865)
|
-
|
(214)
|
(1,079)
|
Total comprehensive loss for the period
|
-
|
-
|
(865)
|
-
|
(214)
|
(1,079)
|
Repurchase
of treasury shares
|
(983)
|
-
|
-
|
-
|
-
|
(983)
|
Reserve
for share-based payments
|
8
|
-
|
-
|
-
|
(2)
|
6
|
Shareholders’
meeting held as of 10.28.22
|
-
|
-
|
-
|
44,704
|
-
|
44,704
|
Other
changes in shareholders’ equity
|
-
|
-
|
(59)
|
-
|
(18)
|
(77)
|
Balance as of March 31, 2023
|
(2,271)
|
7,259
|
(46)
|
47,033
|
(13,125)
|
38,850
|
|
.
Edurado S. Elsztain
President
|
|
Share capital
|
|
|
|
|
|
|
|
|
|
||
|
Outstanding shares
|
Shares to issue
|
Treasury shares
|
Inflation adjustment of share capital and treasury shares
(i)
|
Share premium
|
Additional paid-in capital from treasury shares
|
Warrants
|
Legal reserve
|
Special Reserve Resolution CNV 609/12
|
Other reserves (ii)
|
Retained earnings
|
Total Shareholders’ equity
|
Balance as of June 30, 2021
|
657
|
-
|
2
|
60,115
|
68,854
|
423
|
5,079
|
4,578
|
40,343
|
84,961
|
(87,660)
|
177,352
|
Profit
for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
24,255
|
24,255
|
Other
comprehensive loss for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(1,385)
|
-
|
(1,385)
|
Total comprehensive (loss) / income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(1,385)
|
24,255
|
22,870
|
Repurchase
of treasury shares
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(67)
|
-
|
(67)
|
Exercise
of warrants
|
-
|
-
|
-
|
-
|
10
|
-
|
(2)
|
-
|
-
|
-
|
-
|
8
|
Incorporated
by merger
|
-
|
152
|
-
|
208
|
46,085
|
-
|
-
|
852
|
-
|
(133)
|
(6,076)
|
41,088
|
Shareholders’
meeting held as of 10.21.21
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(87,660)
|
87,660
|
-
|
Balance as of March 31, 2022
|
657
|
152
|
2
|
60,323
|
114,949
|
423
|
5,077
|
5,430
|
40,343
|
(4,284)
|
18,179
|
241,251
|
|
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, 2021
|
(731)
|
7,259
|
1,847
|
89,989
|
(13,403)
|
84,961
|
Other
comprehensive loss for the period
|
-
|
-
|
(1,385)
|
-
|
-
|
(1,385)
|
Total comprehensive loss for the period
|
-
|
-
|
(1,385)
|
-
|
-
|
(1,385)
|
Repurchase
of treasury shares
|
(67)
|
-
|
-
|
-
|
-
|
(67)
|
Incorporated
by merger
|
-
|
-
|
(33)
|
-
|
(100)
|
(133)
|
Shareholders’
meeting held as of 10.21.21
|
-
|
-
|
-
|
(87,660)
|
-
|
(87,660)
|
Balance as of March 31, 2022
|
(798)
|
7,259
|
429
|
2,329
|
(13,503)
|
(4,284)
|
|
.
Edurado S. Elsztain
President
|
|
Note
|
03.31.2023
|
03.31.2022
|
Operating
activities:
|
|
|
|
Net cash generated
from operations before income tax paid
|
|
13,826
|
8,689
|
Income tax
paid
|
|
(539)
|
-
|
Net
cash flow generated from operating activities
|
|
13,287
|
8,689
|
Investing activities:
|
|
|
|
Capital
contributions to subsidiaries, associates and joint
ventures
|
6
|
(121)
|
(862)
|
Acquisition
of investment properties
|
7
|
(1,680)
|
(4,307)
|
Acquisition
of property, plant and equipment
|
8
|
(74)
|
(80)
|
Acquisition
of intangible assets
|
10
|
-
|
(6)
|
Increase
of investments in financial assets
|
|
(8,855)
|
(14,603)
|
Proceeds
from sale of investment properties
|
|
18,480
|
23,376
|
Proceeds
from sale of property, plant and equipment
|
|
1,961
|
-
|
Proceeds
from sale of intangible assets
|
|
-
|
276
|
Proceeds
from loans granted to related parties
|
|
1
|
-
|
Derivative
financial instruments, net
|
|
21
|
(25)
|
Prepayment
for investment properties purchases
|
|
(1,690)
|
(4,574)
|
Increase
in loans granted to related parties
|
|
(271)
|
(249)
|
Proceeds
from sale of investments in financial assets
|
|
16,448
|
14,454
|
Capital
contributions to subsidiaries, associates and joint ventures
pending subscription
|
|
(1)
|
-
|
Proceeds
from loans granted to related parties
|
|
-
|
744
|
Interest
collected
|
|
158
|
393
|
Dividends
received
|
|
1,250
|
1,363
|
Net cash flow generated from investing activities
|
|
25,627
|
15,900
|
Financing activities:
|
|
|
|
Payment
of short-term loans, net
|
|
(567)
|
(7,941)
|
Interests
paid
|
|
(8,704)
|
(13,565)
|
Loans
obtained from subsidiaries, associates and joint
ventures
|
|
1,156
|
2,125
|
Payment
of loans from subsidiaries, associates and joint
ventures
|
|
(27)
|
(4)
|
Payment
of finance leases
|
|
(6)
|
(18)
|
Repurchase
of treasury shares
|
|
(983)
|
(67)
|
Exercise
of warrants
|
|
21
|
8
|
Payment
of borrowings and NCN
|
|
(52,623)
|
(15,362)
|
Borrowings,
issuance and new placement of NCN
|
|
19,961
|
14,394
|
Repurchase
of NCN
|
|
-
|
(1,136)
|
Dividends
paid
|
|
(5,059)
|
-
|
Net cash flow used in financing activities
|
|
(46,831)
|
(21,566)
|
(Decrease) / increase in cash and cash equivalents,
net
|
|
(7,917)
|
3,023
|
Cash
and cash equivalents at the beginning of the period
|
12
|
18,264
|
1,538
|
Cash
and cash equivalents incorporated by merger
|
|
-
|
153
|
Foreign
exchange gain in cash and changes in fair value of cash
equivalents
|
|
952
|
74
|
Result
from exposure to inflation on cash and cash
equivalents
|
|
(138)
|
(106)
|
Cash and cash equivalents at the end of the period
|
12
|
11,161
|
4,682
|
|
.
Edurado S. Elsztain
President
|
Price
variation
|
March
31, 2023
(accumulated
nine months)
|
|
74%
|
|
03.31.2023
|
06.30.2022
|
Beginning of period / year
|
138,545
|
200,812
|
Share
of loss
|
(2,931)
|
(2,269)
|
Other
comprehensive loss
|
(1,079)
|
(939)
|
Capital
contributions (Note 23)
|
234
|
1,343
|
Incorporated
by merger (iii)
|
-
|
(57,381)
|
Dividends
(Note 23)
|
(2,926)
|
(3,011)
|
Decrease
in participation (ii)
|
(4,968)
|
-
|
Other
changes in subsidiaries’ equity
|
(77)
|
-
|
Others
|
20
|
(10)
|
End of the period / year (i)
|
126,818
|
138,545
|
Name
of the entity
|
% ownership interest
|
Company's interest in equity
|
Company’s interest in comprehensive (loss) / income
|
|||
Subsidiaries
|
03.31.2023
|
06.30.2022
|
03.31.2023
|
06.30.2022
|
03.31.2023
|
03.31.2022
|
Tyrus
S.A.
|
100.00%
|
100.00%
|
6,432
|
9,397
|
(3,411)
|
(405)
|
Efanur
S.A. (*)
|
-
|
100.00%
|
-
|
6,855
|
(1,536)
|
(609)
|
Ritelco
S.A.
|
100.00%
|
100.00%
|
2,868
|
2,799
|
250
|
(59)
|
Inversora
Bolívar S.A.
|
96.57%
|
96.57%
|
2,863
|
2,616
|
247
|
(35)
|
E-Commerce
Latina S.A.
|
98.93%
|
98.93%
|
4,329
|
4,180
|
149
|
(225)
|
Palermo
Invest S.A.
|
97.34%
|
97.34%
|
3,518
|
3,273
|
243
|
(31)
|
Nuevas
Fronteras S.A.
|
76.34%
|
76.34%
|
1,354
|
1,136
|
218
|
(139)
|
Llao
Llao Resort S.A.
|
50.00%
|
50.00%
|
1,229
|
1,244
|
(14)
|
(208)
|
Hoteles
Argentinos SAU
|
100.00%
|
100.00%
|
799
|
693
|
106
|
(188)
|
Liveck
S.A.
|
9.30%
|
9.30%
|
311
|
268
|
42
|
(20)
|
Panamerican
Mall S.A. (8)
|
80.00%
|
80.00%
|
57,115
|
59,971
|
(2,071)
|
(7,573)
|
Torodur
S.A. (8)
|
100.00%
|
100.00%
|
17,481
|
17,918
|
(436)
|
(3,146)
|
Arcos
del Gourmet S.A. (8)
|
90.00%
|
90.00%
|
6,506
|
5,868
|
1,047
|
443
|
Shopping
Neuquén S.A. (8)
|
99.95%
|
99.95%
|
5,882
|
5,453
|
429
|
341
|
Centro
de Entretenimientos La Plata S.A. (5)(6)(8)
|
95.40%
|
95.40%
|
1,750
|
1,688
|
(123)
|
(280)
|
We
Are Appa S.A. (4)(8)
|
93.63%
|
93.63%
|
(21)
|
373
|
(401)
|
(717)
|
Entertainment
Holdings S.A. (8)
|
70.00%
|
70.00%
|
696
|
179
|
518
|
294
|
Emprendimiento
Recoleta S.A. (3)(8)
|
53.68%
|
53.68%
|
120
|
136
|
(16)
|
(57)
|
Entretenimiento
Universal S.A. (4)(8)
|
3.75%
|
3.75%
|
(1)
|
(2)
|
1
|
2
|
Fibesa
S.A. (4)(8)
|
100.00%
|
97.00%
|
(71)
|
(146)
|
454
|
141
|
Associates
|
|
|
|
|
|
|
BHSA
(1) (2)
|
4.93%
|
4.93%
|
2,924
|
2,680
|
242
|
(27)
|
BACS
(2)
|
37.72%
|
37.72%
|
1,133
|
1,231
|
(98)
|
(80)
|
GCDI
S.A. (Ex TGLT S.A.) (7)(8)
|
27.82%
|
27.82%
|
1,266
|
1,416
|
(150)
|
(709)
|
Joint ventures
|
|
|
|
|
|
|
IRSA
- Galerías Pacífico S.A. - U.T.
|
50.00%
|
50.00%
|
1,093
|
1,385
|
1,078
|
680
|
Cyrsa
S.A.
|
50.00%
|
50.00%
|
123
|
132
|
(9)
|
(31)
|
Quality
Invest S.A. (8)
|
50.00%
|
50.00%
|
6,105
|
6,719
|
(658)
|
(1,395)
|
Nuevo
Puerto Santa Fe S.A. (6)(8)
|
50.00%
|
50.00%
|
1,014
|
1,083
|
105
|
39
|
Total subsidiaries, associates and joint ventures
|
|
|
126,818
|
138,545
|
(3,794)
|
(13,994)
|
|
|
|
|
Latest financial information issued
|
||
Name of the entity
|
Location of business / Country of incorporation
|
Main activity
|
Common shares 1 vote
|
Share capital (nominal value)
|
(Loss) / profit for the period
|
Shareholders’ equity
|
Subsidiaries
|
|
|
|
|
|
|
Tyrus
|
Uruguay
|
Investment
|
21,365,969,546
|
12,213
|
(3,042)
|
6,386
|
Ritelco
S.A.
|
Uruguay
|
Investment
|
453,321,176
|
94
|
245
|
2,869
|
Inversora
Bolívar S.A.
|
Argentina
|
Investment
|
1,726,178,767
|
1,787
|
255
|
2,965
|
E-Commerce
Latina S.A.
|
Argentina
|
Investment
|
1,710,302,484
|
1,729
|
150
|
4,368
|
Palermo
Invest S.A.
|
Argentina
|
Investment
|
1,324,755,303
|
1,363
|
249
|
3,060
|
Nuevas
Fronteras S.A.
|
Argentina
|
Hotel
|
38,068,999
|
50
|
242
|
2,240
|
Llao
Llao Resort S.A.
|
Argentina
|
Hotel
|
73,580,206
|
147
|
(28)
|
2,459
|
Hoteles
Argentinos SAU
|
Argentina
|
Hotel
|
685,978,099
|
767
|
106
|
841
|
Liveck
S.A.
|
Islas
Vírgenes Británicas
|
Investment
|
54,690,738
|
724
|
476
|
2,353
|
Panamerican
Mall S.A. (8)
|
Argentina
|
Real
estate
|
397,661,430
|
497
|
(2,714)
|
71,393
|
Torodur
S.A. (8)
|
Uruguay
|
Investment
|
581,675,948
|
1,884
|
(453)
|
17,482
|
Arcos
del Gourmet S.A. (8)
|
Argentina
|
Real
estate
|
72,973,903
|
81
|
1,164
|
7,229
|
Shopping
Neuquén S.A. (8)
|
Argentina
|
Real
estate
|
37,819,875
|
54
|
429
|
5,885
|
Centro
de Entretenimiento La Plata S.A. (5)(6)(8)
|
Argentina
|
Real
estate
|
25,853
|
95
|
7
|
604
|
We
Are Appa S.A. (4)(8)
|
Argentina
|
Developer
|
484,832,538
|
518
|
(425)
|
(340)
|
Entertainment
Holdings S.A. (8)
|
Argentina
|
Investment
|
32,503,379
|
46
|
649
|
1,445
|
Emprendimiento
Recoleta S.A. (3)(8)
|
Argentina
|
Real
estate
|
13,449,990
|
25
|
(29)
|
223
|
Entretenimiento
Universal S.A. (4)(8)
|
Argentina
|
Event
organization and others
|
825
|
-
|
37
|
(14)
|
Fibesa
S.A. (4)(8)
|
Argentina
|
Real
estate
|
(i)
|
2
|
517
|
743
|
Associates
|
|
|
|
|
|
|
BHSA
(1) (2)
|
Argentina
|
Financial
|
73,939,835
|
1,500
|
4,885
|
59,312
|
BACS
(2)
|
Argentina
|
Financial
|
33,125,751
|
88
|
(260)
|
3,004
|
GCDI
(Ex TGLT S.A.) (7)(8)
|
Argentina
|
Real
estate
|
257,330,595
|
915
|
(2,458)
|
4,590
|
Joint ventures
|
|
|
|
|
|
|
IRSA
- Galerías Pacífico S.A. - U.T.
|
Argentina
|
Hotel
|
500,000
|
1
|
2,155
|
2,185
|
Cyrsa
S.A.
|
Argentina
|
Real
estate
|
8,748,270
|
17
|
(19)
|
247
|
Quality
Invest S.A. (8)
|
Argentina
|
Real
estate
|
101,126,564
|
2,843
|
(1,317)
|
11,943
|
Nuevo
Puerto Santa Fe S.A. (6)(8)
|
Argentina
|
Real
estate
|
13,875,000
|
28
|
211
|
1,937
|
|
03.31.2023
|
06.30.2022
|
||
|
Level 2
|
Level 3
|
Level 2
|
Level 3
|
Fair value at the beginning of the period / year
|
278,810
|
113,198
|
10,568
|
99,771
|
Additions
|
473
|
1,186
|
12,569
|
2,996
|
Disposals
|
(18,543)
|
-
|
(50,678)
|
-
|
Transfers
|
(732)
|
719
|
100,382
|
(99,374)
|
Incorporated
by merger (ii)
|
-
|
-
|
171,718
|
118,258
|
Net
(loss) / gain from fair value adjustment
|
(17,707)
|
(8,279)
|
34,256
|
(8,468)
|
Additions
of capitalized leasing costs
|
6
|
15
|
26
|
31
|
Amortization
of capitalized lease costs (i)
|
(10)
|
(9)
|
(31)
|
(16)
|
Fair value at the end of the period / year
|
242,297
|
106,830
|
278,810
|
113,198
|
|
03.31.2023
|
06.30.2022
|
Offices
and other rental properties
|
46,538
|
63,952
|
Land
reserve
|
186,960
|
204,519
|
Properties
under development
|
193
|
923
|
Shopping
malls
|
115,436
|
122,614
|
Total
|
349,127
|
392,008
|
|
03.31.2023
|
03.31.2022
|
Rental
and services´ income (Note 19)
|
32,948
|
26,744
|
Rental
and services´ costs (Note 20)
|
(11,333)
|
(9,584)
|
Cost
of sales and developments (Note 20)
|
(137)
|
(180)
|
Net
unrealized loss from fair value adjustment on investment
properties
|
(35,848)
|
(12,748)
|
Net
realized gain from fair value adjustment on investment properties
(i)
|
9,862
|
9,602
|
|
03.31.2023
|
06.30.2022
|
|||||
|
Buildings and facilities
|
Furniture and fixtures
|
Machinery and equipment
|
Vehicles
|
Others
|
Total
|
Total
|
Costs
|
5,228
|
1,190
|
6,515
|
87
|
4
|
13,024
|
1,869
|
Accumulated
depreciation
|
(2,154)
|
(977)
|
(6,176)
|
(87)
|
-
|
(9,394)
|
(1,780)
|
Net book amount at the beginning of the period / year
|
3,074
|
213
|
339
|
-
|
4
|
3,630
|
89
|
Additions
|
-
|
25
|
49
|
-
|
-
|
74
|
89
|
Disposals
|
(2,481)
|
-
|
-
|
-
|
-
|
(2,481)
|
(2)
|
Transfers
|
(2)
|
-
|
15
|
-
|
-
|
13
|
(42)
|
Depreciation
(Note 20)
|
(88)
|
(27)
|
(148)
|
-
|
-
|
(263)
|
(346)
|
Incorporated
by merger (i)
|
-
|
-
|
-
|
-
|
-
|
-
|
3,842
|
Balances at the end of the period / year
|
503
|
211
|
255
|
-
|
4
|
973
|
3,630
|
Costs
|
2,745
|
1,215
|
6,579
|
87
|
4
|
10,630
|
13,024
|
Accumulated
depreciation
|
(2,242)
|
(1,004)
|
(6,324)
|
(87)
|
-
|
(9,657)
|
(9,394)
|
Net book amount at the end of the period / year
|
503
|
211
|
255
|
-
|
4
|
973
|
3,630
|
|
03.31.2023
|
06.30.2022
|
||
|
Completed properties
|
Undeveloped properties
|
Total
|
Total
|
Beginning of the period / year
|
347
|
2,107
|
2,454
|
2,013
|
Additions
|
-
|
115
|
115
|
63
|
Disposals
|
(4)
|
(28)
|
(32)
|
-
|
Incorporated
by merger (i)
|
-
|
-
|
-
|
378
|
End of the period / year
|
343
|
2,194
|
2,537
|
2,454
|
Non-current
|
|
|
2,531
|
2,444
|
Current
|
|
|
6
|
10
|
Total
|
|
|
2,537
|
2,454
|
|
03.31.2023
|
06.30.2022
|
||
|
Computer software
|
Future units to be received from barters
|
Total
|
Total
|
Costs
|
2,138
|
5,059
|
7,197
|
2,724
|
Accumulated
amortization
|
(1,916)
|
-
|
(1,916)
|
(100)
|
Net book amount at the beginning of the period / year
|
222
|
5,059
|
5,281
|
2,624
|
Additions
|
-
|
406
|
406
|
10
|
Disposals
|
-
|
-
|
-
|
(500)
|
Amortization
(Note 20)
|
(168)
|
-
|
(168)
|
(192)
|
Incorporated
by merger (i)
|
-
|
-
|
-
|
3,339
|
Balances at the end of the period / year
|
54
|
5,465
|
5,519
|
5,281
|
Costs
|
2,138
|
5,465
|
7,603
|
7,197
|
Accumulated
amortization
|
(2,084)
|
-
|
(2,084)
|
(1,916)
|
Net book amount at the end of the period / year
|
54
|
5,465
|
5,519
|
5,281
|
|
03.31.2023
|
06.30.2022
|
Shopping
malls
|
275
|
1,038
|
Offices
|
326
|
-
|
Machinery
and equipment
|
-
|
3
|
Total right of use assets
|
601
|
1,041
|
Non-current
|
601
|
1,041
|
Total
|
601
|
1,041
|
|
03.31.2023
|
03.31.2022
|
Shopping
malls
|
815
|
754
|
Machinery
and equipment
|
3
|
-
|
Others
|
5
|
16
|
Total depreciation of right of use assets (Note 20)
|
823
|
770
|
|
Financial assets at amortized cost (i)
|
Financial assets at fair value through profit or loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
|
|
Level 1
|
|
|
|
March 31, 2023
|
|
|
|
|
|
Assets as per Statement of Financial Position
|
|
|
|
|
|
Trade
and other receivables (excluding the allowance for doubtful
accounts and other receivables) (Note 13)
|
16,323
|
-
|
16,323
|
4,863
|
21,186
|
Investments
in financial assets:
|
|
|
|
|
|
-
Public companies’ securities
|
-
|
347
|
347
|
-
|
347
|
-
Mutual funds
|
-
|
14,760
|
14,760
|
-
|
14,760
|
-
Bonds
|
-
|
3,969
|
3,969
|
-
|
3,969
|
Cash
and cash equivalents:
|
|
|
|
|
|
-
Cash at bank and on hand
|
1,435
|
-
|
1,435
|
-
|
1,435
|
-
Short- term investments
|
-
|
9,726
|
9,726
|
-
|
9,726
|
Total
|
17,758
|
28,802
|
46,560
|
4,863
|
51,423
|
|
Financial liabilities at amortized cost (i)
|
Financial liabilities at fair value through profit or
loss
|
Subtotal financial liabilities
|
Non-financial liabilities
|
Total
|
|
|
Level 1
|
|
|
|
March 31, 2023
|
|
|
|
|
|
Liabilities as per Statement of Financial Position
|
|
|
|
|
|
Trade
and other payables (Note 15)
|
4,215
|
-
|
4,215
|
10,234
|
14,449
|
Derivative
financial instruments:
|
|
|
|
|
|
-
Foreign-currency future contracts
|
-
|
6
|
6
|
-
|
6
|
Borrowings
(Note 16)
|
97,606
|
-
|
97,606
|
-
|
97,606
|
Total
|
101,821
|
6
|
101,827
|
10,234
|
112,061
|
|
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)
|
12,220
|
-
|
12,220
|
3,846
|
16,066
|
Investments
in financial assets:
|
|
|
|
|
|
-
Public companies’ securities
|
-
|
307
|
307
|
-
|
307
|
-
Mutual funds
|
-
|
23,690
|
23,690
|
-
|
23,690
|
-
Bonds
|
-
|
4,560
|
4,560
|
-
|
4,560
|
Cash
and cash equivalents:
|
|
|
|
|
|
-
Cash at bank and on hand
|
14,330
|
-
|
14,330
|
-
|
14,330
|
-
Short-term investments
|
-
|
3,934
|
3,934
|
-
|
3,934
|
Total
|
26,550
|
32,491
|
59,041
|
3,846
|
62,887
|
|
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 15)
|
5,840
|
5,840
|
9,711
|
15,551
|
Borrowings
(Note 16)
|
144,296
|
144,296
|
-
|
144,296
|
Total
|
150,136
|
150,136
|
9,711
|
159,847
|
|
03.31.2023
|
06.30.2022
|
Sales,
leases and services receivables
|
7,446
|
9,950
|
Less:
Allowance for doubtful accounts
|
(945)
|
(1,309)
|
Total trade receivables
|
6,501
|
8,641
|
Borrowings
granted, deposits and others
|
8,983
|
2,781
|
Advanced
payments
|
3,208
|
1,461
|
Tax
credits
|
908
|
1,015
|
Prepaid
expenses
|
438
|
492
|
Long-term
incentive plan
|
15
|
26
|
Others
|
188
|
341
|
Total other receivables
|
13,740
|
6,116
|
Total trade and other receivables
|
20,241
|
14,757
|
Non-current
|
1,404
|
1,454
|
Current
|
18,837
|
13,303
|
Total
|
20,241
|
14,757
|
|
03.31.2023
|
06.30.2022
|
Beginning of period / year
|
1,309
|
26
|
Additions
|
113
|
399
|
Disposals
/ Recoveries
|
(90)
|
(409)
|
Used
during the period / year
|
-
|
(19)
|
Incorporated
by merger (i)
|
-
|
2,060
|
Exchange
rate differences
|
208
|
111
|
Inflation
adjustment
|
(595)
|
(859)
|
End of the period / year
|
945
|
1,309
|
|
Note
|
03.31.2023
|
03.31.2022
|
Operating activities
|
|
|
|
Profit
for the period
|
|
30,768
|
24,255
|
Adjustments:
|
|
|
|
Income
tax
|
17
|
(34,866)
|
(7,393)
|
Amortization
and depreciation
|
20
|
1,273
|
1,201
|
Gain
from disposal of trading properties
|
|
(385)
|
-
|
Financial
results, net
|
|
(12,445)
|
(26,675)
|
Increase
in trading properties
|
|
(104)
|
(2)
|
Net
loss from fair value adjustment of investment
properties
|
7
|
25,986
|
3,146
|
Share
of loss of subsidiaries, associates and joint ventures
|
6
|
2,931
|
12,609
|
Loss
from disposal of properties, plant and equipment
|
|
510
|
-
|
Gain
from disposal of intangible assets
|
|
-
|
(190)
|
Provisions
and allowances
|
|
2,130
|
1,604
|
Management
fees
|
|
-
|
(311)
|
Decrease
/ (increase) in inventories
|
|
2
|
(2)
|
Increase
/ (decrease) in salaries and social security
liabilities
|
|
97
|
(231)
|
Decrease
in trade and other receivables
|
|
2,308
|
1,575
|
Use
of provisions
|
|
(29)
|
(121)
|
Decrease
in trade and other payables
|
|
(4,350)
|
(776)
|
Net
cash flow generated from operating activities before income tax
paid
|
|
13,826
|
8,689
|
Operations not affecting cash flows
|
03.31.2023
|
03.31.2022
|
Currency
translation adjustment
|
1,079
|
1,385
|
Decrease
in lease liabilities through a decrease in trade and other
receivables
|
-
|
6
|
Other
changes in subsidiaries` equity
|
77
|
-
|
Issuance
of NCN
|
37,113
|
351
|
Decrease
in investment properties through an increase in property, plant and
equipment
|
13
|
-
|
Decrease
in trading properties through an increase in intangible
assets
|
406
|
-
|
Increase
in rights of use assets through an increase in lease
liabilities
|
332
|
-
|
Decrease
in investment properties through an decrease in investment in
financial assets
|
63
|
-
|
Decrease
in investments in financial assets through a decrease in trade and
other payables
|
297
|
-
|
Decrease
in dividends receivable through an increase in investment in
financial assets
|
8
|
-
|
Increase
investment in financial assets through a decrease in investments in
associates and joint ventures
|
-
|
335
|
Decrease
in investments in subsidiaries, associates and joint ventures
through decrease in other liabilities
|
55
|
14
|
Decrease
in shareholders´ equity through decrease in financial
assets
|
2,500
|
-
|
Decrease
in investments in subsidiaries, associates and joint ventures
through an increase in financial assets
|
307
|
-
|
Decrease
in investments in subsidiaries, associates and joint ventures
through an increase in trade and other receivables
|
5,849
|
255
|
Decrease
in investments in subsidiaries, associates and joint ventures
through a decrease in borrowings
|
1,714
|
-
|
Increase
in rights of use assets through an increase in trade and other
receivables
|
51
|
-
|
Increase
in investments in subsidiaries, associates and joint ventures
through an increase in trade and other payables
|
20
|
-
|
Increase
in investment in subsidiaries, associates and joint ventures
through a decrease in trade and other receivables
|
113
|
67
|
|
03.31.2023
|
06.30.2022
|
Customers´
advances (*)
|
3,845
|
4,068
|
Trade
payables
|
1,526
|
1,912
|
Accrued
invoices
|
1,396
|
1,653
|
Admission
rights
|
4,987
|
3,858
|
Other
income to be accrued
|
121
|
132
|
Tenant
deposits
|
41
|
64
|
Total trade payables
|
11,916
|
11,687
|
Director´s
fees
|
816
|
1,071
|
Long-term
incentive plan
|
3
|
5
|
Tax
amnesty plans
|
40
|
49
|
Other
payables
|
433
|
1,136
|
Other
tax payables
|
1,241
|
1,603
|
Total other payables
|
2,533
|
3,864
|
Total trade and other payables
|
14,449
|
15,551
|
Non-current
|
4,966
|
4,580
|
Current
|
9,483
|
10,971
|
Total
|
14,449
|
15,551
|
|
Book value as of 03.31.2023
|
Book value as of 06.30.2022
|
Fair value as of 03.31.2023
|
Fair value as of 06.30.2022
|
NCN
|
72,730
|
115,141
|
72,635
|
108,524
|
Bank
loans
|
22
|
-
|
22
|
-
|
Related
parties (Note 23)
|
17,363
|
19,235
|
17,359
|
19,022
|
Bank
overdrafts
|
7,491
|
9,920
|
7,491
|
9,920
|
Total borrowings
|
97,606
|
144,296
|
97,507
|
137,466
|
Non-current
|
58,017
|
35,211
|
|
|
Current
|
39,589
|
109,085
|
|
|
Total
|
97,606
|
144,296
|
|
|
|
03.31.2023
|
03.31.2022
|
Deferred
income tax
|
16,949
|
18,191
|
Current
income tax (i)
|
17,917
|
(10,798)
|
Income tax
|
34,866
|
7,393
|
|
03.31.2023
|
03.31.2022
|
Net income / (loss)
at tax rate (i)
|
1,434
|
(5,902)
|
Permanent differences:
|
|
|
Share
of loss of subsidiaries, associates and joint ventures
|
(1,026)
|
(4,411)
|
Difference
between provision and tax return
|
3,984
|
562
|
Recovery
/ (provision) of tax loss carry forwards
|
(3,495)
|
10,235
|
Tax
inflation adjustment
|
(3,157)
|
(15,067)
|
Inflation
adjustment
|
21,861
|
22,158
|
Non-deductible
expenses and others
|
15,265
|
(182)
|
Income tax
|
34,866
|
7,393
|
|
03.31.2023
|
06.30.2022
|
Beginning of the period / year
|
(141,589)
|
(55,206)
|
Income
tax charge
|
16,949
|
23,533
|
Incorporated
by merger (i)
|
-
|
(109,576)
|
Revaluation
surplus
|
-
|
(340)
|
End of the period / year
|
(124,640)
|
(141,589)
|
|
03.31.2023
|
06.30.2022
|
||
|
Investments in associates and joint ventures
|
Labor, legal and other claims
|
Total
|
Total
|
Beginning of period / year
|
148
|
438
|
586
|
174
|
Additions
(i)
|
-
|
601
|
601
|
397
|
Decreases
(i)
|
-
|
(119)
|
(119)
|
(127)
|
Used
during the period / year
|
-
|
(29)
|
(29)
|
(138)
|
Incorporated
by merger (ii)
|
-
|
-
|
-
|
392
|
Inflation
adjustment
|
-
|
(231)
|
(231)
|
(260)
|
Share
of (loss) / income
|
(55)
|
-
|
(55)
|
148
|
End of period / year
|
93
|
660
|
753
|
586
|
Non-current
|
|
|
261
|
333
|
Current
|
|
|
492
|
253
|
Total
|
|
|
753
|
586
|
|
03.31.2023
|
03.31.2022
|
Base
rent
|
11,326
|
9,739
|
Contingent
rent
|
9,638
|
8,695
|
Admission
rights
|
2,157
|
1,502
|
Parking
fees
|
912
|
486
|
Property
management fees
|
227
|
247
|
Others
|
39
|
130
|
Averaging
of scheduled rent escalation
|
(138)
|
(836)
|
Rentals and services income
|
24,161
|
19,963
|
Sale
of trading properties
|
417
|
239
|
Total revenues from sales, rentals and services
|
24,578
|
20,202
|
Expenses
and collective promotion funds
|
8,787
|
6,781
|
Total revenues from expenses and collective promotion
funds
|
8,787
|
6,781
|
Total revenues
|
33,365
|
26,983
|
|
Costs (i)
|
General and administrative expenses
|
Selling expenses
|
03.31.2023
|
03.31.2022
|
Salaries,
social security costs and other personnel expenses
|
2,887
|
2,369
|
338
|
5,594
|
5,142
|
Maintenance,
security, cleaning, repairs and others
|
3,565
|
245
|
5
|
3,815
|
3,528
|
Taxes,
rates and contributions
|
982
|
4
|
954
|
1,940
|
2,568
|
Advertising
and other selling expenses
|
2,601
|
-
|
151
|
2,752
|
1,557
|
Director´s
fees (Note 23)
|
-
|
1,625
|
-
|
1,625
|
1,305
|
Amortization
and depreciation
|
1,055
|
210
|
8
|
1,273
|
1,201
|
Fees
and payments for services
|
61
|
540
|
551
|
1,152
|
874
|
Leases
and services’ charges
|
287
|
108
|
5
|
400
|
436
|
Traveling,
transportation and stationery expenses
|
48
|
77
|
9
|
134
|
198
|
Cost
of sales of trading properties
|
32
|
-
|
-
|
32
|
82
|
Allowance
for doubtful accounts (charge and recovery, net) (Note
13)
|
-
|
-
|
23
|
23
|
27
|
Bank
expenses
|
-
|
104
|
-
|
104
|
61
|
Freight
expenses
|
3
|
1
|
-
|
4
|
-
|
Others
|
24
|
1
|
-
|
25
|
27
|
Total expenses by nature as of 03.31.2023
|
11,545
|
5,284
|
2,044
|
18,873
|
-
|
Total expenses by nature as of 03.31.2022
|
10,127
|
4,787
|
2,092
|
-
|
17,006
|
|
03.31.2023
|
03.31.2022
|
Lawsuits
and other contingencies (i)
|
(482)
|
(272)
|
Donations
|
(91)
|
(159)
|
Administration
fees
|
360
|
311
|
Loss
from disposal of property, plant and equipment
|
(510)
|
-
|
Interest
and allowances generated by operating assets
|
313
|
139
|
Others
|
21
|
18
|
Total other operating results, net
|
(389)
|
37
|
|
03.31.2023
|
03.31.2022
|
Interest
income
|
105
|
151
|
Total finance income
|
105
|
151
|
Interest
expense
|
(8,172)
|
(11,689)
|
Other
finance costs
|
(709)
|
(1,026)
|
Total finance costs
|
(8,881)
|
(12,715)
|
Exchange
rate differences, net
|
5,915
|
25,372
|
Fair
value net gain from financial assets and liabilities at fair value
through profit or loss, net
|
2,469
|
4,000
|
Gain
/ (loss) from derivative financial instruments, net
|
14
|
(18)
|
Gain
from repurchase of non-convertible notes
|
99
|
2,613
|
Other
financial results
|
(45)
|
428
|
Total other financial results
|
8,452
|
32,395
|
Inflation
adjustment
|
11,040
|
2,772
|
Total financial results, net
|
10,716
|
22,603
|
Item
|
03.31.2023
|
06.30.2022
|
Rights
of use assets
|
275
|
1,039
|
Trade
and other receivables
|
9,063
|
3,297
|
Investments
in financial assets
|
2,275
|
3,010
|
Trade
and other payables
|
(1,952)
|
(2,607)
|
Borrowings
|
(17,363)
|
(19,235)
|
Total
|
(7,702)
|
(14,496)
|
Related parties
|
03.31.2023
|
06.30.2022
|
Operation description
|
Item
|
Cresud
S.A.C.I.F. y A.
|
-
|
8
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
|
2,275
|
3,010
|
Bonds
|
Investments
in financial assets
|
|
(642)
|
(1,079)
|
Corporate
services payable
|
Trade
and other payables
|
|
(3)
|
(5)
|
Long-term
incentive plan payable
|
Trade
and other payables
|
|
(173)
|
(2)
|
Other
liabilities
|
Trade
and other payables
|
Total parent company
|
1,457
|
1,932
|
|
|
Shopping
Neuquén S.A.
|
275
|
1,039
|
Rights
of use assets
|
Rights
of use assets
|
|
1
|
60
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
|
240
|
341
|
Loans
granted
|
Trade
and other receivables
|
|
(1)
|
(2)
|
Rentals
and services received
|
Trade
and other payables
|
|
(1)
|
(2)
|
Other
liabilities
|
Trade
and other payables
|
Panamerican
Mall S.A.
|
19
|
158
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
|
1
|
2
|
Long-term
incentive plan
|
Trade
and other receivables
|
|
(1)
|
(1)
|
Rentals
and services received
|
Trade
and other payables
|
|
(21)
|
(15)
|
Other
liabilities
|
Trade
and other payables
|
Arcos
del Gourmet S.A.
|
7
|
72
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
|
(9)
|
(8)
|
Other
liabilities
|
Trade
and other payables
|
E-Commerce
Latina S.A.
|
(1,165)
|
(1,199)
|
Borrowings
|
Borrowings
|
Ogden
Argentina S.A.
|
5
|
8
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
|
786
|
796
|
Loans
granted
|
Trade
and other receivables
|
Entretenimiento
Universal S.A.
|
105
|
106
|
Loans
granted
|
Trade
and other receivables
|
|
(9)
|
-
|
Rentals
and services received
|
Trade
and other payables
|
Torodur
S.A.
|
(3)
|
(5)
|
Other
liabilities
|
Trade
and other payables
|
|
(420)
|
(1,550)
|
NCN
|
Borrowings
|
|
(11,933)
|
(12,275)
|
Borrowings
|
Borrowings
|
Ritelco
S.A.
|
8
|
5
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
|
(74)
|
(77)
|
Borrowings
|
Borrowings
|
We
Are Appa S.A.
|
3
|
7
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
|
595
|
332
|
Loans
granted
|
Trade
and other receivables
|
|
(15)
|
(45)
|
Rentals
and services received
|
Trade
and other payables
|
|
(1)
|
-
|
Other
liabilities
|
Trade
and other payables
|
Other
subsidiaries, associates and joint ventures (1)
|
33
|
42
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
|
1
|
-
|
Expenses
paid in advance
|
Trade
and other receivables
|
|
1
|
17
|
Advance
payments
|
Trade
and other receivables
|
|
8
|
-
|
Loans
granted
|
Trade
and other receivables
|
|
-
|
150
|
Contributions
to be integrated
|
Trade
and other receivables
|
|
15
|
24
|
Long-term
incentive plan
|
Trade
and other receivables
|
|
(21)
|
(23)
|
Rentals
and services received
|
Trade
and other payables
|
|
-
|
(13)
|
Invoices
to be received
|
Trade
and other payables
|
|
(10)
|
(14)
|
Other
liabilities
|
Trade
and other payables
|
|
-
|
(145)
|
NCN
|
Borrowings
|
|
-
|
(509)
|
Borrowings
|
Borrowings
|
Total subsidiaries, associates and joint ventures
|
(11,581)
|
(12,724)
|
|
|
Related parties
|
03.31.2023
|
06.30.2022
|
Operation description
|
Item
|
Directors
|
(815)
|
(1,070)
|
Directors'
fees provision
|
Trade
and other payables
|
Total directors
|
(815)
|
(1,070)
|
|
|
Cyrsa
S.A.
|
(72)
|
(81)
|
Borrowings
|
Borrowings
|
Consultores
Assets Management
|
34
|
34
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
BHN
Vida S.A.
|
(5)
|
(6)
|
Guarantee
deposits received
|
Trade
and other payables
|
|
(80)
|
(82)
|
NCN
|
Borrowings
|
IRSA
- Galerías Pacífico S.A. U.T.
|
1
|
2
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
|
(141)
|
(232)
|
Other
liabilities
|
Trade
and other payables
|
|
(766)
|
(988)
|
Borrowings
|
Borrowings
|
New
Lipstick LLC
|
50
|
53
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
IRSA
International LLC
|
(64)
|
(65)
|
Other
liabilities
|
Trade
and other payables
|
|
(257)
|
(260)
|
Borrowings
|
Borrowings
|
Real
Estate Strategies LLC
|
368
|
-
|
Loans
granted
|
Trade
and other receivables
|
Tyrus
S.A.
|
10
|
7
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
|
6,662
|
957
|
Loans
granted
|
Trade
and other receivables
|
|
(3)
|
-
|
Rentals
and services received
|
Trade
and other payables
|
|
(2,351)
|
(1,835)
|
NCN
|
Borrowings
|
|
(99)
|
-
|
Borrowings
|
Borrowings
|
Helmir
S.A.
|
(73)
|
(74)
|
NCN
|
Borrowings
|
Nuevas
Fronteras S.A.
|
88
|
58
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
|
(44)
|
(58)
|
Borrowings
|
Borrowings
|
Others
Related parties (2)
|
17
|
51
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
|
3
|
1
|
Prepaid
expenses
|
Trade
and other receivables
|
|
2
|
5
|
Advance
payments to suppliers
|
Trade
and other receivables
|
|
-
|
1
|
Other
credits
|
Trade
and other receivables
|
|
(4)
|
(14)
|
Rentals
and services received
|
Trade
and other payables
|
|
(10)
|
(6)
|
Invoices
to be received
|
Trade
and other payables
|
|
(27)
|
(28)
|
NCN
|
Borrowings
|
|
(2)
|
(74)
|
Borrowings
|
Borrowings
|
Total others
|
3,237
|
(2,634)
|
|
|
Total
|
(7,702)
|
(14,496)
|
|
|
Related parties
|
03.31.2023
|
03.31.2022
|
Operation description
|
Cresud
S.A.C.I.F. y A.
|
62
|
78
|
Leases
and/or rights of use
|
|
1,256
|
(282)
|
Financial
operations
|
|
(1,728)
|
(1,512)
|
Corporate
services
|
Total parent company
|
(410)
|
(1,716)
|
|
Arcos
del Gourmet S.A.
|
(32)
|
(20)
|
Leases
and/or rights of use
|
|
87
|
78
|
Fees
|
Fibesa
S.A.
|
4
|
6
|
Leases
and/or rights of use
|
|
2
|
4
|
Fees
|
|
13
|
31
|
Financial
operations
|
Ritelco
S.A.
|
2
|
16
|
Financial
operations
|
Torodur
S.A.
|
238
|
2,327
|
Financial
operations
|
Efanur
S.A.
|
35
|
59
|
Financial
operations
|
Helmir
S.A
|
(10)
|
4
|
Financial
operations
|
Tyrus
S.A.
|
(397)
|
(94)
|
Financial
operations
|
Lipstick
Management
|
-
|
39
|
Financial
operations
|
Shopping
Neuquén S.A.
|
(101)
|
(82)
|
Financial
operations
|
|
(815)
|
(776)
|
Leases
and/or rights of use
|
Ogden
Argentina S.A.
|
(9)
|
(137)
|
Financial
operations
|
Entretenimiento
Universal S.A.
|
(1)
|
(18)
|
Financial
operations
|
Inversora
Bolívar S.A.
|
-
|
(2)
|
Financial
operations
|
UT
La Rural S.A. - OFC S.R.L - Ogden y Enusa
|
(2)
|
-
|
Fees
|
E-Commerce
Latina S.A.
|
33
|
69
|
Financial
operations
|
La
Rural S.A.
|
(1)
|
-
|
Leases
and/or rights of use
|
Panamerican
Mall S.A.
|
161
|
147
|
Fees
|
|
(77)
|
(29)
|
Leases
and/or rights of use
|
|
-
|
(92)
|
Financial
operations
|
Emprendimiento
Recoleta S.A.
|
1
|
2
|
Fees
|
Cyrsa
S.A.
|
9
|
16
|
Financial
operations
|
Centro
de Entretenimientos La Plata S.A.
|
(13)
|
(16)
|
Leases
and/or rights of use
|
We
Are Appa S.A.
|
9
|
20
|
Fees
|
|
4
|
(8)
|
Leases
and/or rights of use
|
Nuevo
Puerto Santa Fe S.A.
|
(2)
|
(8)
|
Leases
and/or rights of use
|
|
48
|
22
|
Fees
|
|
-
|
8
|
Financial
operations
|
Quality
Invest S.A.
|
8
|
8
|
Fees
|
|
(21)
|
(12)
|
Leases
and/or rights of use
|
|
2
|
-
|
Financial
operations
|
Total subsidiaries, associates and joint ventures
|
(825)
|
1,562
|
|
Directors
|
(1,625)
|
(1,305)
|
Fees
|
Senior
Management
|
(105)
|
(25)
|
Fees
|
Total Directors and Senior Management
|
(1,730)
|
(1,330)
|
|
BHN
Seguros Generales S.A.
|
-
|
39
|
Leases
and/or rights of use
|
BHN
Sociedad de Inversión S.A.
|
-
|
14
|
Leases
and/or rights of use
|
BHN
Vida S.A.
|
-
|
43
|
Leases
and/or rights of use
|
BACS
Administradora de Activos S.A.
|
-
|
12
|
Leases
and/or rights of use
|
Austral
Gold
|
-
|
8
|
Leases
and/or rights of use
|
|
3
|
4
|
Fees
|
Consultores
Assets Management
|
-
|
14
|
Leases
and/or rights of use
|
|
3
|
2
|
Fees
|
Hamonet
S.A.
|
(6)
|
(6)
|
Leases
and/or rights of use
|
Isaac
Elsztain e Hijos S.C.A.
|
(14)
|
(16)
|
Leases
and/or rights of use
|
Estudio
Zang, Bergel & Viñes
|
-
|
(39)
|
Fees
|
Banco
de Crédito y Securitización S.A.
|
-
|
92
|
Leases
and/or rights of use
|
Nuevas
Fronteras S.A.
|
15
|
-
|
Financial
operations
|
Fundación
IRSA
|
(59)
|
(63)
|
Donations
|
|
-
|
2
|
Leases
and/or rights of use
|
Museo
de los niños
|
2
|
(10)
|
Leases
and/or rights of use
|
Fundación
Puerta 18
|
(18)
|
(22)
|
Donations
|
IRSA
- Galerías Pacífico S.A. U.T.
|
80
|
47
|
Financial
operations
|
Fundación
IRSA
|
(59)
|
-
|
Donations
|
Hoteles
Argentinos SAU
|
-
|
2
|
Fees
|
Nuevas
Fronteras S.A.
|
25
|
27
|
Fees
|
|
15
|
10
|
Financial
operations
|
Other subsidiaries, associates and joint ventures
|
(13)
|
160
|
|
Total at the end of the period
|
(2,978)
|
(1,324)
|
|
Related parties
|
03.31.2023
|
03.31.2022
|
Operation description
|
Fibesa
S.A.
|
403
|
257
|
Dividends
received
|
IRSA
- Galerías Pacífico S.A. U.T.
|
1,369
|
-
|
Dividends
received
|
Arcos
del Gourmet S.A
|
409
|
1,696
|
Dividends
received
|
Panamerican
Mall S.A.
|
571
|
-
|
Dividends
received
|
Nuevo
Puerto Santa Fe S.A.
|
174
|
-
|
Dividends
received
|
Total dividends received
|
2,926
|
1,953
|
|
Palermo
Invest S.A.
|
(3)
|
(37)
|
Irrevocable
contributions
|
Inversora
Bolívar S.A.
|
(1)
|
(27)
|
Irrevocable
contributions
|
E-Commerce
Latina S.A.
|
-
|
(290)
|
Irrevocable
contributions
|
Tyrus
S.A.
|
-
|
(278)
|
Irrevocable
contributions
|
Hoteles
Argentinos SAU
|
-
|
(102)
|
Irrevocable
contributions
|
Liveck
S.A.
|
-
|
(69)
|
Irrevocable
contributions
|
Quality
Invest S.A.
|
(44)
|
(72)
|
Irrevocable
contributions
|
Torodur
S.A
|
-
|
(407)
|
Irrevocable
contributions
|
Centro
de Entretenimientos La Plata S.A.
|
(186)
|
-
|
Irrevocable
contributions
|
Total irrevocable contributions to subsidiaries
|
(234)
|
(1,282)
|
|
Item (1)
|
Amount (2)
|
Foreign exchange rate (3)
|
Total as of 03.31.2023
|
Total as of 06.30.2022
|
Assets
|
|
|
|
|
Trade and other receivables
|
|
|
|
|
US
Dollar
|
7.30
|
208.61
|
1,522
|
1,721
|
Euros
|
0.08
|
226.15
|
18
|
19
|
Receivables
with related parties
|
|
|
|
|
US
Dollar
|
41.48
|
209.01
|
8,669
|
2,330
|
Total
Trade and other receivables
|
|
|
10,209
|
4,070
|
Investments in financial assets
|
|
|
|
|
US
Dollar
|
8.13
|
208.61
|
1,696
|
1,252
|
Investment in financial assets with related parties
|
|
|
|
|
US
Dollar
|
10.88
|
209.01
|
2,275
|
3,010
|
Total Investments in financial assets
|
|
|
3,971
|
4,262
|
Cash and cash equivalents
|
|
|
|
|
US
Dollar
|
13.04
|
208.61
|
2,721
|
13,501
|
Total Cash and cash equivalents
|
|
|
2,721
|
13,501
|
Total Assets
|
|
|
16,901
|
21,833
|
|
|
|
|
|
Liabilities
|
|
|
|
|
Trade and other payables
|
|
|
|
|
US
Dollar
|
4.80
|
209.01
|
1,003
|
723
|
Euros
|
-
|
227.11
|
-
|
2
|
Payables with related parties
|
|
|
|
|
US
Dollar
|
0.41
|
209.01
|
85
|
106
|
Total Trade and other payables
|
|
|
1,088
|
831
|
Lease liabilities
|
|
|
|
|
US
Dollar
|
1.57
|
209.01
|
328
|
2
|
Total Lease liabilities
|
|
|
328
|
2
|
Borrowings
|
|
|
|
|
US
Dollar
|
304.50
|
209.01
|
63,644
|
104,954
|
Borrowings with related parties
|
|
|
|
|
US
Dollar
|
82.79
|
209.01
|
17,304
|
19,226
|
Total Borrowings
|
|
|
80,948
|
124,180
|
Total Liabilities
|
|
|
82,364
|
125,013
|
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 and allowances
|
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)
|
IIIQ 23
|
IIIQ 22
|
YoY Var
|
9M 23
|
9M 22
|
YoY Var
|
Revenues
|
16,273
|
13,554
|
20.1%
|
53,876
|
39,759
|
35.5%
|
Result
from fair value adjustment of investment properties
|
1,039
|
(75,901)
|
-
|
(34,909)
|
(22,666)
|
54.0%
|
Result from operations
|
6,600
|
(70,281)
|
-
|
(14,608)
|
(7,417)
|
97.0%
|
Depreciation
and amortization
|
338
|
364
|
(7.1)%
|
1,183
|
1,180
|
0.3%
|
EBITDA (1)
|
6,938,
|
(69,917)
|
-
|
(13,425)
|
(6,237)
|
115.2%
|
Adjusted EBITDA (1)
|
14,326,
|
10,657,
|
34.4%
|
31,251
|
26,031
|
20.1%
|
Result for the period
|
12,978
|
(37,013)
|
-
|
31,768
|
23,501
|
35.2%
|
Attributable
to equity holders of the parent
|
12,399
|
(35,518)
|
-
|
30,768
|
25,476
|
20.8%
|
Attributable
to non-controlling interest
|
579
|
(1,495)
|
-
|
1,000
|
(1,975)
|
-
|
|
IIIQ 23
|
IIQ 23
|
IQ 23
|
IVQ 22
|
IIIQ 22
|
Gross
leasable area (sqm)
|
335,893
|
336,240
|
336,240
|
335,666
|
335,690
|
Tenants’
sales (3 months cumulative in current currency)
|
110,616
|
145,144
|
122,023
|
101,999
|
100,759
|
Occupancy
|
96.8%
|
93.9%
|
93.7%
|
93.1%
|
91.5%
|
(in millions of ARS)
|
IIIQ 23
|
IIIQ 22
|
YoY Var
|
9M 23
|
9M 22
|
YoY Var
|
Revenues
from sales, leases, and services
|
8,848
|
7,313
|
21.0%
|
28,073
|
21,517
|
30.5%
|
Net
result from fair value adjustment on investment
properties
|
(3,339)
|
(4,896)
|
(31.8)%
|
(10,518)
|
(18,932)
|
(44.4)%
|
Result from operations
|
2,655
|
(62)
|
-
|
10,342
|
(4,285)
|
-
|
Depreciation
and amortization
|
104
|
81
|
28.4%
|
356
|
313
|
13.7%
|
EBITDA (1)
|
2,759
|
19
|
14,421.1%
|
10,698
|
(3,972)
|
-
|
Adjusted EBITDA (1)
|
6,098
|
4,915
|
24.1%
|
21,216
|
14,960
|
41.8%
|
|
Date of acquisition
|
Location
|
Gross Leasable Area (sqm)(1)
|
Stores
|
Occupancy (2)
|
IRSA Interest (3)
|
Alto
Palermo
|
Dec-97
|
City
of Buenos Aires
|
20,507
|
141
|
99.3%
|
100%
|
Abasto Shopping(4)
|
Nov-99
|
City
of Buenos Aires
|
37,163
|
162
|
98.7%
|
100%
|
Alto
Avellaneda
|
Dec-97
|
Province
of Buenos Aires
|
39,457
|
123
|
92.2%
|
100%
|
Alcorta
Shopping
|
Jun-97
|
City
of Buenos Aires
|
15,812
|
112
|
96.1%
|
100%
|
Patio
Bullrich
|
Oct-98
|
City
of Buenos Aires
|
11,664
|
91
|
92.1%
|
100%
|
Dot
Baires Shopping
|
May-09
|
City
of Buenos Aires
|
47,811
|
162
|
97.8%
|
80%
|
Soleil
|
Jul-10
|
Province
of Buenos Aires
|
15,673
|
74
|
99.6%
|
100%
|
Distrito
Arcos
|
Dec-14
|
City
of Buenos Aires
|
14,457
|
67
|
98.1%
|
90.0%
|
Alto
Noa Shopping
|
Mar-95
|
Salta
|
19,381
|
85
|
97.1%
|
100%
|
Alto
Rosario Shopping
|
Nov-04
|
Santa
Fe
|
34,858
|
137
|
95.8%
|
100%
|
Mendoza
Plaza Shopping
|
Dec-94
|
Mendoza
|
41,511
|
127
|
97.1%
|
100%
|
Córdoba
Shopping
|
Dec-06
|
Córdoba
|
15,368
|
99
|
98.6%
|
100%
|
La
Ribera Shopping
|
Aug-11
|
Santa
Fe
|
10,531
|
68
|
96.9%
|
50%
|
Alto
Comahue
|
Mar-15
|
Neuquén
|
11,700
|
89
|
97.3%
|
99.95%
|
Patio Olmos(5)
|
Sep-07
|
Córdoba
|
-
|
-
|
-
|
|
Total
|
|
|
335,893
|
1.537
|
96.8%
|
|
(ARS million)
|
IIIQ 23
|
IIIQ 22
|
YoY Var
|
Alto
Palermo
|
14,054
|
12,589
|
11.6%
|
Abasto
Shopping
|
16,397
|
13,615
|
20.4%
|
Alto
Avellaneda
|
10,862
|
8,917
|
21.8%
|
Alcorta
Shopping
|
8,202
|
8,228
|
(0.3)%
|
Patio
Bullrich
|
4,574
|
4,547
|
0.6%
|
Buenos Aires Design(1)
|
-
|
-
|
0.0%
|
Dot
Baires Shopping
|
9,113
|
8,192
|
11.2%
|
Soleil
|
5,733
|
5,547
|
3.4%
|
Distrito
Arcos
|
7,576
|
7,021
|
7.9%
|
Alto
Noa Shopping
|
4,721
|
4,863
|
(2.9)%
|
Alto
Rosario Shopping
|
12,288
|
11,581
|
6.1%
|
Mendoza
Plaza Shopping
|
7,520
|
7,348
|
2.3%
|
Córdoba
Shopping
|
3,882
|
3,528
|
10.0%
|
La Ribera Shopping(2)
|
1,995
|
1,805
|
10.5%
|
Alto
Comahue
|
3,699
|
2,978
|
24.2%
|
Total sales
|
110,616
|
100,759
|
9.8%
|
(ARS million)
|
9M 23
|
9M 22
|
YoY Var
|
9M 21
|
9M 20
|
9M 19
|
Alto
Palermo
|
49,535
|
39,743
|
24.6%
|
16,729
|
36,544
|
37,286
|
Abasto
Shopping
|
54,711
|
39,939
|
37.0%
|
15,202
|
37,023
|
40,194
|
Alto
Avellaneda
|
37,203
|
28,379
|
31.1%
|
12,602
|
32,789
|
35,928
|
Alcorta
Shopping
|
29,084
|
28,050
|
3.7%
|
13,180
|
21,786
|
21,080
|
Patio
Bullrich
|
16,177
|
14,471
|
11.8%
|
8,494
|
14,516
|
13,809
|
Buenos Aires Design(1)
|
-
|
-
|
-
|
-
|
-
|
2,331
|
Dot
Baires Shopping
|
30,059
|
25,547
|
17.7%
|
11,798
|
29,133
|
30,652
|
Soleil
|
19,880
|
18,604
|
6.9%
|
9,505
|
15,134
|
15,952
|
Distrito
Arcos
|
27,909
|
23,338
|
19.6%
|
12,931
|
17,031
|
14,637
|
Alto
Noa Shopping
|
15,586
|
14,667
|
6.3%
|
11,024
|
12,766
|
13,557
|
Alto
Rosario Shopping
|
43,231
|
37,914
|
14.0%
|
24,765
|
29,960
|
29,292
|
Mendoza
Plaza Shopping
|
22,983
|
21,715
|
5.8%
|
20,648
|
22,308
|
23,629
|
Córdoba
Shopping
|
13,323
|
12,288
|
8.4%
|
8,056
|
9,188
|
9,898
|
La Ribera Shopping(2)
|
6,746
|
5,684
|
18.7%
|
2,999
|
6,206
|
6,881
|
Alto
Comahue
|
11,356
|
8,973
|
26.6%
|
3,968
|
9,023
|
9,586
|
Total sales
|
377,783
|
319,312
|
18.3%
|
171,901
|
293,407
|
304,712
|
(ARS million)
|
IIIQ 23
|
IIIQ 22
|
YoY Var
|
Department
Store
|
-
|
-
|
-
|
Clothes
and footwear
|
59,733
|
56,549
|
5.6%
|
Entertainment
|
3,362
|
2,547
|
32.0%
|
Home
and decoration
|
3,079
|
3,069
|
0.3%
|
Restaurants
|
14,520
|
10,730
|
35.3%
|
Miscellaneous
|
12,860
|
15,935
|
(19.3)%
|
Services
|
2,137
|
1,766
|
21.0%
|
Home
Appliances
|
14,925
|
10,163
|
46.9%
|
Total
|
110,616
|
100,759
|
9.8%
|
(in millions of ARS)
|
9M 23
|
9M 22
|
YoY Var
|
9M 21
|
9M 20
|
9M 19
|
Department
Store
|
-
|
-
|
-
|
9,213
|
15,556
|
16,264
|
Clothes
and footwear
|
218,865
|
190,494
|
14.9%
|
94,529
|
161,724
|
165,824
|
Entertainment
|
10,448
|
7,156
|
46.0%
|
1,066
|
9,212
|
9,585
|
Home
and decoration
|
9,058
|
8,757
|
3.4%
|
4,957
|
6,017
|
9,376
|
Restaurants
|
42,127
|
29,770
|
41.5%
|
12,690
|
32,958
|
34,550
|
Miscellaneous
|
45,295
|
49,296
|
-8.1%
|
27,039
|
40,804
|
39,186
|
Services
|
6,571
|
5,145
|
27.7%
|
2,101
|
3,423
|
3,718
|
Home
Appliances
|
45,419
|
28,694
|
58.3%
|
20,306
|
23,713
|
26,209
|
Total
|
377,783
|
319,312
|
18.3%
|
171,901
|
293,407
|
304,712
|
(ARS million)
|
IIIQ 23
|
IIIQ 22
|
YoY Var
|
Base
rent
|
4,044
|
2,840
|
42.4%
|
Percentage
rent
|
2,861
|
3,109
|
(8.0)%
|
Total rent
|
6,905
|
5,949
|
16.1%
|
Non-traditional
advertising
|
151
|
155
|
(2.6)%
|
Revenues
from admission rights
|
979
|
650
|
50.6%
|
Fees
|
85
|
90
|
(5.6)%
|
Parking
|
429
|
251
|
70.9%
|
Commissions
|
268
|
190
|
41.1%
|
Other
|
31
|
28
|
10.7%
|
Subtotal
|
8,848
|
7,313
|
21.0%
|
Expenses
and Collective Promotion Fund
|
3,023
|
1,971
|
53.4%
|
Total
|
11,871
|
9,284
|
27.9%
|
(ARS million)
|
9M 23
|
9M 22
|
YoY Var
|
9M 21
|
9M 20
|
9M 19
|
Base
rent
|
11,237
|
7,234
|
55.3%
|
5,812
|
11,649
|
15,197
|
Percentage
rent
|
11,593
|
10,531
|
10.1%
|
3,118
|
6,356
|
5,723
|
Total rent
|
22,830
|
17,765
|
28.5%
|
8,930
|
18,005
|
20,920
|
Non-traditional
advertising
|
584
|
451
|
29.5%
|
212
|
633
|
610
|
Revenues
from admission rights
|
2,488
|
1758
|
41.5%
|
1,685
|
3,105
|
3,417
|
Fees
|
250
|
277
|
(9.7)%
|
294
|
343
|
398
|
Parking
|
1220
|
715
|
70.6%
|
63
|
1,261
|
1,587
|
Commissions
|
643
|
484
|
32.9%
|
339
|
641
|
809
|
Other
|
58
|
67
|
(13.4)%
|
351
|
172
|
782
|
Subtotal
|
28,073
|
21,517
|
30.5%
|
11,874
|
24,160
|
28,523
|
Expenses
and Collective Promotion Fund
|
10,154
|
7,458
|
36.1%
|
5,824
|
10,442
|
11,133
|
Total
|
38,227
|
28,975
|
31.9%
|
17,698
|
34,602
|
39,656
|
|
IIIQ 23
|
IIQ 23
|
IQ 23
|
IVQ 22
|
IIIQ 22
|
Gross
Leasable area
|
74,392
|
82,708
|
82,708
|
83,892
|
103,777
|
Total
Occupancy
|
68.4%
|
68.6%
|
68.5%
|
73.3%
|
66.4%
|
Class
A+ & A Occupancy
|
86.9%
|
83.7%
|
82.0%
|
85.5%
|
74.6%
|
Class
B Occupancy
|
16.1%
|
19.6%
|
24.9%
|
33.5%
|
30.9%
|
Rent
USD/sqm
|
25.6
|
24.8
|
25.0
|
24.5
|
24.6
|
(in ARS
million)
|
IIIQ 23
|
IIIQ 22
|
YoY Var
|
9M 23
|
9M 22
|
YoY Var
|
Revenues
from sales, leases and services
|
918
|
1,337
|
(31.3)%
|
2,908
|
4,194
|
(30.7)%
|
Net
result from fair value adjustment on investment properties,
PP&E e inventories
|
5,223
|
(27,689)
|
-
|
(4,435)
|
(26,228)
|
(83.1)%
|
Profit from operations
|
5,863
|
(26,861)
|
-
|
(2,281)
|
(23,652)
|
(90.4)%
|
Depreciation
and amortization
|
15
|
48
|
(68.8)%
|
116
|
178
|
(34.8)%
|
EBITDA(1)
|
5,878
|
(26,813)
|
-
|
(2,165)
|
(23,474)
|
(90.8)%
|
Adjusted EBITDA (1)
|
655
|
876
|
(25.2)%
|
2,270
|
2,754
|
(17.6)%
|
Offices & Others
|
Date of Acquisition
|
Gross Leasable Area (sqm)(1)
|
Occupancy (2)
|
Actual Interest
|
9M 23 - Rental revenues (ARS thousand) (4)
|
AAA & A Offices
|
|
|
|
|
|
Boston
Tower
|
Dec-14
|
|
|
|
2,396
|
Intercontinental Plaza (3)
|
Dec-14
|
2,979
|
100.0%
|
100%
|
192,394
|
Dot
Building
|
Nov-06
|
11,242
|
51.6%
|
80%
|
358,575
|
Zetta
|
May-19
|
32,173
|
94.6%
|
80%
|
1,598,850
|
261 Della Paolera –
Catalinas(5)
|
Dec-20
|
8,516
|
100%
|
100%
|
627,358
|
Total AAA & A Offices
|
|
54,910
|
86.9%
|
|
2,779,573
|
|
|
|
|
|
|
B Offices
|
|
|
|
|
|
Suipacha
652/64
|
Dec-14
|
11,465
|
-
|
100%
|
214
|
Philips
|
Jun-17
|
8,017
|
39.2%
|
100%
|
128,465
|
Total B Buildings
|
|
19,482
|
16.1%
|
100%
|
128,679
|
Subtotal Offices
|
|
74,392
|
68.4%
|
|
2,908,252
|
(in ARS
million)
|
IIIQ 23
|
IIIQ 22
|
YoY Var
|
9M 23
|
9M 22
|
YoY Var
|
Revenues
|
3,198
|
2,215
|
44.4%
|
9,249
|
5,494
|
68.3%
|
Profit from operations
|
929
|
496
|
87.3%
|
2,712
|
1,014
|
167.5%
|
Depreciation
and amortization
|
169
|
173
|
(2.3)%
|
484
|
503
|
(3.8)%
|
EBITDA
|
1,098
|
669
|
64.1%
|
3,196
|
1,517
|
110.7%
|
Hotels
|
Date of Acquisition
|
IRSA’s Interest
|
Number of rooms
|
Occupancy(4)
|
Intercontinental (1)
|
11/01/1997
|
76,34%
|
313
|
69.2%
|
Sheraton Libertador (2)
|
03/01/1998
|
100,00%
|
200
|
52.5%
|
Llao Llao (3)
|
06/01/1997
|
50,00%
|
205
|
83.2%
|
Total
|
-
|
-
|
718
|
68.6%
|
|
IIQ 23
|
IIQ 23
|
IQ 23
|
IVQ 22
|
IIIQ 22
|
Average
Occupancy
|
68.6%
|
71.4%
|
62.7%
|
52.0%
|
45.2%
|
Average
Rate per Room (USD/night)
|
231
|
208
|
227
|
172
|
234
|
(in ARS million)
|
IIIQ 23
|
IIIQ 22
|
YoY Var
|
9M 23
|
9M 22
|
YoY Var
|
Revenues
|
106
|
129
|
(17.8)%
|
2,750
|
603
|
356.1%
|
Net
result from fair value adjustment on investment
properties
|
(852)
|
(45,392)
|
(98.1)%
|
(20,746)
|
20,048
|
(203.5)%
|
Result from operations
|
(2,621)
|
(45,373)
|
(94.2)%
|
(21,528)
|
18,296
|
(217.7)%
|
Depreciation
and amortization
|
(1)
|
17
|
(105.9)%
|
59
|
41
|
43.9%
|
Net
result from fair value adjustment on investment
properties
|
8,427
|
4,673
|
80.3%
|
9,767
|
9,602
|
1.7%
|
EBITDA (1)
|
(2,622)
|
(45,356)
|
(94.2)%
|
(21,469)
|
18,337
|
(217.1)%
|
Adjusted EBITDA (1)
|
6,657
|
4,709
|
41.4%
|
9,044
|
7,891
|
14.6%
|
(in millions of ARS)
|
IIIQ 23
|
IIIQ 22
|
YoY Var
|
9M 23
|
9M 22
|
YoY Var
|
Revenues
|
129
|
41
|
214.6%
|
549
|
131
|
319.1%
|
Net
result from fair value adjustment on investment
properties
|
(25)
|
(33)
|
(24.2)%
|
(85)
|
180
|
(147.2)%
|
Result from operations
|
(208)
|
(438)
|
(52.5)%
|
(4,534)
|
(723)
|
527.1%
|
Depreciation
and amortization
|
59
|
51
|
15.7%
|
183
|
153
|
19.6%
|
EBITDA
|
(149)
|
(387)
|
(61.5)%
|
(4,351)
|
(570)
|
663.3%
|
Adjusted EBITDA
|
(124)
|
(354)
|
(65.0)%
|
(4,266)
|
(750)
|
468.8%
|
9M 23
|
Shopping Malls
|
Offices
|
Sales and Developments
|
Hotels
|
Others
|
Total
|
Result from operations
|
10,342
|
(2,281)
|
(21,528)
|
2,712
|
(4,534)
|
(15,289)
|
Depreciation and amortization
|
356
|
116
|
59
|
484
|
183
|
1,198
|
EBITDA
|
10,698
|
(2,165)
|
(21,469)
|
3,196
|
(4,351)
|
(14,091)
|
9M 22
|
Shopping Malls
|
Offices
|
Sales and Developments
|
Hotels
|
Others
|
Total
|
Result from operations
|
(4,285)
|
(23,652)
|
18,296
|
1,014
|
(723)
|
(9,350)
|
Depreciation and amortization
|
313
|
178
|
41
|
503
|
153
|
1,188
|
EBITDA
|
(3,972)
|
(23,474)
|
18,337
|
1,517
|
(570)
|
(8,162)
|
EBITDA Var
|
-
|
(90.8)%
|
(217.1)%
|
110.7%
|
663.3%
|
72.6%
|
|
Total as per segment
|
Joint ventures*
|
Expenses and CPF
|
Elimination of inter-segment transactions
|
Total as per Statements of Income
|
Revenues
|
43,529
|
(252)
|
10,599
|
-
|
53,876
|
Costs
|
(7,782)
|
119
|
(10,793)
|
-
|
(18,456)
|
Gross result
|
35,747
|
(133)
|
(194)
|
-
|
35,420
|
Result
from sales of investment properties
|
(35,784)
|
875
|
-
|
-
|
(34,909)
|
General
and administrative expenses
|
(7,507)
|
37
|
-
|
32
|
(7,438)
|
Selling
expenses
|
(2,933)
|
16
|
-
|
-
|
(2,917)
|
Other
operating results, net
|
(4,812)
|
(19)
|
99
|
(32)
|
(4,764)
|
Result from operations
|
(15,289)
|
776
|
(95)
|
-
|
(14,608)
|
Share
of loss of associates and joint ventures
|
1,925
|
(545)
|
-
|
-
|
1,380
|
Result before financial results and income tax
|
(13,364)
|
231
|
(95)
|
-
|
(13,228)
|
Description
|
Currency
|
Amount (USD MM) (1)
|
Interest Rate
|
Maturity
|
Bank
overdrafts
|
ARS
|
35.0
|
Floating
|
<
360 days
|
Series
VIII
|
USD
|
10.3
|
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
|
Series
XV
|
USD
|
61.7
|
8.0%
|
Mar-25
|
Series
XVI
|
USD
|
28.3
|
7.0%
|
Jul-25
|
IRSA’s Total Debt
|
USD
|
381.3
|
|
|
Cash & Cash Equivalents + Investments
(2)
|
USD
|
185.3
|
|
|
IRSA’s Net Debt
|
USD
|
196.0
|
|
|
(in ARS
million)
|
03.31.2023
|
03.31.2022
|
03.31.2021
|
03.31.2020
|
03.31.2019
|
Non-current
assets
|
517.736
|
545,807
|
613,133
|
1,571,346
|
2,328,766
|
Current
assets
|
63.797.
|
49,846
|
58,280
|
806,272
|
967,670
|
Total assets
|
581.533.
|
595,653
|
671,413
|
2,377,618
|
3,296,436
|
Capital
and reserves attributable to the equity holders of the
parent
|
297.754.
|
240,843
|
215,226
|
129,776
|
303,645
|
Non-controlling
interest
|
18.407
|
17,148
|
71,320
|
245,891
|
363,136
|
Total shareholders’ equity
|
316.161 .
|
257,991
|
286,546
|
375,667
|
666,781
|
Non-current
liabilities
|
220.777
|
286,534
|
290,181
|
1,438,144
|
2,113,192
|
Current
liabilities
|
44.595
|
51,128
|
94,686
|
563,807
|
516,463
|
Total liabilities
|
265.372
|
337,662
|
384,867
|
2,001,951
|
2,629,655
|
Total liabilities and shareholders’ equity
|
581.533 .
|
595,653
|
671,413
|
2,377,618
|
3,296,436
|
(in ARS
million)
|
03.31.2023
|
03.31.2022
|
03.31.2021
|
03.31.2020
|
03.31.2019
|
Profit from operations
|
(14,608)
|
(7,417)
|
(17,171)
|
33,412
|
(14,095)
|
Share
of profit of associates and joint ventures
|
1,380
|
(1,539)
|
(6,472)
|
1,781
|
(6,341)
|
Result from operations before financing and taxation
|
(13,228)
|
(8,956)
|
(23,643)
|
35,193
|
(20,436)
|
Financial
income
|
498
|
590
|
286
|
662
|
3,552
|
Financial
cost
|
(10,014)
|
(12,993)
|
(14,673)
|
(19,897)
|
(36,301)
|
Other
financial results
|
8,127
|
30,098
|
18,501
|
(23,778)
|
9,866
|
Inflation
adjustment
|
10,946
|
2,464
|
631
|
1,163
|
(3,753)
|
Financial results, net
|
9,557
|
20,159
|
4,745
|
(41,850)
|
(26,636)
|
Results before income tax
|
(3,671)
|
11,203
|
(18,898)
|
(6,657)
|
(47,072)
|
Income
tax
|
35,439
|
12,298
|
(2,241)
|
(9,041)
|
14,263
|
Result for the period from continued operations
|
31,768
|
23,501
|
(21,139)
|
(15,698)
|
(32,809)
|
Result
for the period from discontinued operations after
taxes
|
-
|
-
|
(25,484)
|
(3,235)
|
(27,950)
|
Result of the period
|
31,768
|
23,501
|
(46,623)
|
(18,933)
|
(60,759)
|
Other
comprehensive results for the period
|
(1,075)
|
(1,397)
|
(31,562)
|
29,020
|
26,247
|
Total comprehensive result for the period
|
30,693
|
22,104
|
(78,185)
|
10,087
|
(34,512)
|
|
|
|
|
|
|
Attributable
to:
|
|
|
|
|
|
Equity
holders of the parent
|
29,689
|
24,091
|
(49,019)
|
(55,736)
|
(38,318)
|
Non-controlling
interest
|
1,004
|
(1,987)
|
(29,166)
|
65,823
|
3,806
|
(in ARS
million)
|
03.31.2023
|
03.31.2022
|
03.31.2021
|
03.31.2020
|
03.31.2019
|
Net
cash generated from operating activities
|
20,302
|
14,466
|
8,826
|
105,441
|
78,638
|
Net
cash generated from investing activities
|
21,892
|
19,969
|
187,430
|
73,116
|
47,711
|
Net
cash used in financing activities
|
(48,726)
|
(27,369)
|
(130,123)
|
(297,399)
|
(81,979)
|
Net (decrease) / increase in cash and cash equivalents
|
(6,532)
|
7,066
|
66,133
|
(118,842)
|
44,370
|
Cash
and cash equivalents at beginning of year
|
22,251
|
5,514
|
387,612
|
370,813
|
355,945
|
Cash
and cash equivalents reclassified to held for sale
|
-
|
-
|
-
|
(2,700)
|
(2,857)
|
Inflation
adjustment
|
(550)
|
(423)
|
(511)
|
(663)
|
(731)
|
Deconsolidation
of subsidiaries
|
-
|
-
|
(415,059)
|
-
|
-
|
Foreign
exchange (loss) / gain on cash and changes in fair value for cash
equivalents
|
(183)
|
(539)
|
(25,341)
|
7,407
|
14,514
|
Cash and cash equivalents at period-end
|
14,986
|
11,618
|
12,834
|
256,015
|
411,241
|
(in ARS
million)
|
03.31.2023
|
|
03.31.2022
|
|
03.31.2021
|
|
03.31.2020
|
|
03.31.2019
|
|
Liquidity
|
|
|
|
|
|
|
|
|
|
|
CURRENT
ASSETS
|
63,797
|
1.43
|
49,846
|
0.97
|
58,280
|
0.62
|
806,272
|
1.43
|
967,670
|
1.87
|
CURRENT
LIABILITIES
|
44,595
|
|
51,128
|
|
94,686
|
|
563,807
|
|
516,463
|
|
Solvency
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS’
EQUITY
|
316,161
|
1.19
|
257,991
|
0.76
|
286,546
|
0.74
|
375,667
|
0.19
|
666,781
|
0.25
|
TOTAL
LIABILITIES
|
265,372
|
|
337,662
|
|
384,867
|
|
2,001,951
|
|
2,629,655
|
|
Capital Assets
|
|
|
|
|
|
|
|
|
|
|
NON-CURRENT
ASSETS
|
517,736
|
0.89
|
545,807
|
0.92
|
613,133
|
0.91
|
1,571,346
|
0.66
|
2,328,766
|
0.71
|
TOTAL
ASSETS
|
581,533
|
|
595,653
|
|
671,413
|
|
2,377,618
|
|
3,296,436
|
|
Profitability
|
|
|
|
|
|
|
|
|
|
|
RESULT
OF THE PERIOD
|
31,768
|
0.11
|
23,501
|
0.09
|
(46,623)
|
(0.14)
|
(18,933)
|
(0.04)
|
(60,759)
|
(0.13)
|
AVERAGE
SHAREHOLDERS’ EQUITY
|
287,076
|
|
259,794
|
|
331,107
|
|
521,224
|
|
470,685
|
|
For the nine-month period ended March 31 (in ARS
million)
|
||
|
2023
|
2022
|
Profit
for the period
|
31,768
|
23,501
|
Interest
income
|
(498)
|
(590)
|
Interest
expense
|
9,070
|
11,813
|
Income
tax
|
(35,439)
|
(12,298)
|
Depreciation
and amortization
|
1,183
|
1,180
|
EBITDA (unaudited)
|
6,084
|
23,606
|
Net
gain / (loss) from fair value adjustment of investment
properties
|
34,909
|
22,666
|
Realized
net gain from fair value adjustment of investment
properties
|
9,767
|
9,602
|
Share
of profit of associates and joint ventures
|
(1,380)
|
1,539
|
Foreign
exchange differences net
|
(4,993)
|
(21,876)
|
Result
from derivative financial instruments
|
(43)
|
(28)
|
Fair
value gains of financial assets and liabilities at fair value
through profit or loss
|
(2,940)
|
(4,872)
|
Inflation
adjustment
|
(10,946)
|
(2,464)
|
Other
financial costs/income
|
793
|
(2,142)
|
Adjusted EBITDA (unaudited)
|
31,251
|
26,031
|
Adjusted EBITDA Margin (unaudited) (1)
|
58.01%
|
65.47%
|
For the nine-month period ended March 31 (in ARS
million)
|
||
|
2023
|
2022
|
Gross
profit
|
35,420
|
24,520
|
Selling
expenses
|
(2,917)
|
(2,755)
|
Depreciation
and amortization
|
1,183
|
1,180
|
Realized
result from fair value of investment properties
|
9,767
|
9,602
|
NOI (unaudited)
|
43,453
|
32,547
|
For the nine-month period ended March 31 (in ARS
million))
|
||
|
2023
|
2023
|
Result
for the period
|
31,768
|
23,501
|
Result
from fair value adjustments of investment properties
|
34,909
|
22,666
|
Result
from fair value adjustments of investment properties,
realized
|
9,767
|
9,602
|
Depreciation
and amortization
|
1,183
|
1,180
|
Foreign
exchange, net
|
(4,993)
|
(21,876)
|
Other
financial results
|
44
|
(846)
|
Results
from derivative financial instruments
|
(43)
|
(28)
|
Results
of financial assets and liabilities at fair value through profit or
loss
|
(2,942)
|
(4,872)
|
Other
financial costs
|
944
|
1,180
|
Income tax current /
deferred(1)
|
(37,414)
|
(13,624)
|
Non-controlling
interest
|
(1,000)
|
1,975
|
Non-controlling
interest related to PAMSA’s fair value
|
(1,646)
|
(3,696)
|
Results
of associates and joint ventures
|
(1,380)
|
1,539
|
Inflation
adjustment
|
(10,946)
|
(2,464)
|
Repurchase
of non-convertible notes
|
(195)
|
(2,476)
|
Adjusted FFO
|
18,058
|
11,761
|