Type of
stock
|
CAPITAL STATUS
|
|
Shares
authorized for Public Offering (2)
|
Subscribed,
issued and paid-up nominal value
(in
millions of Argentine
Pesos)
|
|
Common
stock with a face value of ARS 10 per share and entitled to 1 vote
each
|
738,902,282
|
7,389
|
Glossary
|
1
|
Unaudited Condensed Interim Consolidated Statement of Financial
Position
|
2
|
Unaudited Condensed Interim Consolidated Statement of Income and
Other Comprehensive Income
|
3
|
Unaudited Condensed Interim Consolidated Statement of Changes in
Shareholders’ Equity
|
4
|
Unaudited Condensed Interim Consolidated Statement 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
|
8
|
Note 3 – Seasonal effects on operations
|
9
|
Note 4 – Acquisitions and disposals
|
9
|
Note 5 – Financial risk management and fair value
estimates
|
11
|
Note 6 – Segment information
|
11
|
Note 7 – Investments in associates and joint
ventures
|
13
|
Note 8 – Investment properties
|
16
|
Note 9 – Property, plant and equipment
|
19
|
Note 10 – Trading properties
|
20
|
Note 11 – Intangible assets
|
20
|
Note 12 – Right-of-use assets
|
20
|
Note 13 – Financial instruments by
category
|
21
|
Note 14 – Trade and other receivables
|
23
|
Note 15 – Cash flow and cash equivalent
information
|
23
|
Note 16 – Trade and other payables
|
24
|
Note 17 – Borrowings
|
25
|
Note 18 – Provisions
|
26
|
Note 19 – Taxes
|
27
|
Note 20 – Revenues
|
27
|
Note 21 – Expenses by nature
|
28
|
Note 22 – Costs
|
28
|
Note 23 – Other operating results, net
|
28
|
Note 24 – Financial results, net
|
29
|
Note 25 – Related party transactions
|
29
|
Note 26 – CNV General Resolution N°
622
|
32
|
Note 27 – Foreign currency assets and
liabilities
|
32
|
Note 28 – Other relevant events of the
period
|
33
|
Note 29 – Subsequent events
|
37
|
Terms
|
|
Definitions
|
Annual
Financial Statements
|
|
Consolidated
Financial Statements as of June 30, 2023
|
BACS
|
|
Banco
de Crédito y Securitización S.A.
|
BHSA
|
|
Banco
Hipotecario S.A.
|
CAMSA
|
|
Consultores
Assets Management S.A.
|
CCL
|
|
Cash
settlement
|
CNV
|
|
Securities
Exchange Commission (Argentina)
|
Condor
|
|
Condor
Hospitality Trust Inc.
|
CPF
|
|
Collective
Promotion Funds
|
CPI
|
|
Consumer
Price Index
|
Cresud
|
|
Cresud
S.A.C.I.F. y A.
|
Financial
Statements
|
|
Unaudited
Condensed Interim Consolidated Financial Statements
|
GCDI
|
|
GCDI
S.A.
|
IAS
|
|
International
Accounting Standards
|
IASB
|
|
International
Accounting Standards Board
|
IFRS
|
|
International
Financial Reporting Standards
|
INDEC
|
|
Argentine
Institute of Statistics and Census
|
IRSA,
The Company”, “Us”, “We”
|
|
IRSA
Inversiones y Representaciones Sociedad Anónima
|
MEP
|
|
Electronic
Payment Market
|
MPIT
|
|
Minimum
presumed income tax
|
New
Lipstick
|
|
New
Lipstick LLC
|
Puerto
Retiro
|
|
Puerto
Retiro S.A.
|
|
|
|
|
Note
|
03.31.2024
|
06.30.2023
|
ASSETS
|
|
|
|
Non-current assets
|
|
|
|
Investment
properties
|
8
|
1,342,739
|
1,786,135
|
Property,
plant and equipment
|
9
|
31,445
|
31,799
|
Trading
properties
|
10,
22
|
17,373
|
18,911
|
Intangible
assets
|
11
|
54,487
|
24,896
|
Right-of-use
assets
|
12
|
9,249
|
9,197
|
Investments
in associates and joint ventures
|
7
|
122,202
|
116,169
|
Deferred
income tax assets
|
19
|
3,225
|
2,695
|
Income
tax credit
|
|
5
|
66
|
Trade
and other receivables
|
13,
14
|
15,310
|
13,903
|
Investments
in financial assets
|
13
|
10,065
|
6,023
|
Total non-current assets
|
|
1,606,100
|
2,009,794
|
Current assets
|
|
|
|
Trading
properties
|
10,
22
|
408
|
451
|
Inventories
|
22
|
942
|
1,037
|
Income
tax credit
|
|
150
|
2,284
|
Trade
and other receivables
|
13,
14
|
71,082
|
81,080
|
Investments
in financial assets
|
13
|
119,547
|
107,831
|
Derivative
financial instruments
|
13
|
84
|
-
|
Cash
and cash equivalents
|
13
|
20,981
|
27,371
|
Total current assets
|
|
213,194
|
220,054
|
TOTAL ASSETS
|
|
1,819,294
|
2,229,848
|
SHAREHOLDERS’ EQUITY
|
|
|
|
Shareholders'
equity attributable to equity holders of the parent (according to
corresponding statement)
|
|
872,520
|
1,134,496
|
Non-controlling
interest
|
|
59,637
|
69,973
|
TOTAL SHAREHOLDERS’ EQUITY
|
|
932,157
|
1,204,469
|
LIABILITIES
|
|
|
|
Non-current liabilities
|
|
|
|
Borrowings
|
13,
17
|
178,169
|
210,961
|
Lease
liabilities
|
|
8,601
|
8,283
|
Deferred
income tax liabilities
|
19
|
395,094
|
519,201
|
Trade
and other payables
|
13,
16
|
28,894
|
30,828
|
Provisions
|
18
|
19,787
|
18,547
|
Salaries
and social security liabilities
|
|
106
|
282
|
Total non-current liabilities
|
|
630,651
|
788,102
|
Current liabilities
|
|
|
|
Borrowings
|
13,
17
|
141,839
|
127,274
|
Lease
liabilities
|
|
1,621
|
1,172
|
Trade
and other payables
|
13,
16
|
56,527
|
94,178
|
Income
tax liabilities
|
|
48,616
|
3,300
|
Provisions
|
18
|
2,636
|
2,645
|
Derivative
financial instruments
|
13
|
-
|
19
|
Salaries
and social security liabilities
|
|
5,247
|
8,689
|
Total current liabilities
|
|
256,486
|
237,277
|
TOTAL LIABILITIES
|
|
887,137
|
1,025,379
|
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES
|
|
1,819,294
|
2,229,848
|
|
|
|
|
.
Eduardo S. Elsztain
President
|
|
|
Nine months
|
Three months
|
||
|
Note
|
03.31.2024
|
03.31.2023
|
03.31.2024
|
03.31.2023
|
Revenues
|
20
|
213,565
|
208,970
|
59,734
|
63,120
|
Costs
|
21,
22
|
(69,141)
|
(71,583)
|
(19,476)
|
(22,106)
|
Gross profit
|
|
144,424
|
137,387
|
40,258
|
41,014
|
Net
(loss) / gain from fair value adjustment of investment
properties
|
8
|
(385,848)
|
(135,403)
|
(594,816)
|
4,025
|
General
and administrative expenses
|
21
|
(20,333)
|
(28,849)
|
(9,991)
|
(10,209)
|
Selling
expenses
|
21
|
(11,866)
|
(11,316)
|
(3,186)
|
(5,206)
|
Other
operating results, net
|
23
|
(2,279)
|
(18,480)
|
(1,221)
|
(4,027)
|
(Loss) / profit from operations
|
|
(275,902)
|
(56,661)
|
(568,956)
|
25,597
|
Share
of profit / (loss) of associates and joint ventures
|
7
|
28,574
|
5,352
|
(1,638)
|
(871)
|
(Loss) / profit before financial results and income
tax
|
|
(247,328)
|
(51,309)
|
(570,594)
|
24,726
|
Finance
income
|
24
|
17,790
|
1,930
|
10,561
|
659
|
Finance
costs
|
24
|
(34,012)
|
(38,839)
|
(11,103)
|
(14,410)
|
Other
financial results
|
24
|
61,435
|
31,520
|
112,794
|
19,502
|
Inflation
adjustment
|
24
|
26,365
|
42,456
|
(23,003)
|
1,774
|
Financial results, net
|
|
71,578
|
37,067
|
89,249
|
7,525
|
(Loss) / profit before income tax
|
|
(175,750)
|
(14,242)
|
(481,345)
|
32,251
|
Income
tax expense
|
19
|
64,022
|
137,459
|
147,350
|
18,075
|
(Loss) / profit for the period
|
|
(111,728)
|
123,217
|
(333,995)
|
50,326
|
Other comprehensive (loss) / income:
|
|
|
|
|
|
Items that may be reclassified subsequently to profit or
loss:
|
|
|
|
|
|
Currency
translation adjustment and other comprehensive loss from
subsidiaries (i)
|
|
(3,292)
|
(3,341)
|
3,434
|
(1,476)
|
Revaluation
deficit
|
|
-
|
(829)
|
-
|
-
|
Total other comprehensive (loss) / income for the
period
|
|
(3,292)
|
(4,170)
|
3,434
|
(1,476)
|
Total comprehensive (loss) / income for the period
|
|
(115,020)
|
119,047
|
(330,561)
|
48,850
|
|
|
|
|
|
|
(Loss) / profit for the period attributable to:
|
|
|
|
|
|
Equity
holders of the parent
|
|
(104,926)
|
119,339
|
(319,500)
|
48,089
|
Non-controlling
interest
|
|
(6,802)
|
3,878
|
(14,495)
|
2,237
|
|
|
|
|
|
|
Total comprehensive (loss) / income attributable to:
|
|
|
|
|
|
Equity
holders of the parent
|
|
(108,314)
|
115,153
|
(315,446)
|
46,606
|
Non-controlling
interest
|
|
(6,706)
|
3,894
|
(15,115)
|
2,244
|
|
|
|
|
|
|
(Loss) / profit per share attributable to equity holders of the
parent: (ii)
|
|
|
|
|
|
Basic
|
|
(140.84)
|
159.33
|
(428.86)
|
64.20
|
Diluted
|
|
(140.84) (iii)
|
145.89
|
(428.86) (iii)
|
58.79
|
|
.
Eduardo S. Elsztain
President
|
|
Attributable to equity holders of the parent
|
|
|
|||||||||||
|
Share capital
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Outstanding shares
|
Shares to issue (iv)
|
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 (v)
|
Retained earnings
|
Subtotal
|
Non-controlling interest
|
Total Shareholders’ equity
|
Balance as of June 30, 2023
|
799
|
6,553
|
12
|
274,020
|
19,635
|
401,154
|
1,574
|
31,450
|
156,428
|
36,864
|
206,007
|
1,134,496
|
69,973
|
1,204,469
|
Net
loss for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(104,926)
|
(104,926)
|
(6,802)
|
(111,728)
|
Other
comprehensive (loss) / income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(3,388)
|
-
|
(3,388)
|
96
|
(3,292)
|
Total comprehensive loss for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(3,388)
|
(104,926)
|
(108,314)
|
(6,706)
|
(115,020)
|
Assignment
of results according to Shareholders´ Meeting
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
8,982
|
-
|
33,381
|
(42,363)
|
-
|
-
|
-
|
Repurchase
of treasury shares (iii)
|
(238)
|
-
|
238
|
-
|
-
|
-
|
-
|
-
|
-
|
(17,014)
|
-
|
(17,014)
|
-
|
(17,014)
|
Warrants
exercise (ii)
|
25
|
-
|
-
|
3
|
(513)
|
1,224
|
-
|
-
|
-
|
-
|
-
|
739
|
-
|
739
|
Issuance
of shares
|
6,678
|
(6,553)
|
(125)
|
-
|
-
|
-
|
(10,184)
|
-
|
-
|
10,184
|
-
|
-
|
-
|
-
|
Capitalization
of irrevocable contributions
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
72
|
72
|
Dividend
distribution (iv)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(137,346)
|
(137,346)
|
(3,743)
|
(141,089)
|
Reserve
for share-based payments
|
1
|
-
|
(1)
|
-
|
-
|
-
|
(81)
|
-
|
-
|
81
|
-
|
-
|
-
|
-
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(41)
|
-
|
(41)
|
41
|
-
|
Balance as of March 31, 2024
|
7,265
|
-
|
124
|
274,023
|
19,122
|
402,378
|
(8,691)
|
40,432
|
156,428
|
60,067
|
(78,628)
|
872,520
|
59,637
|
932,157
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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, 2023
|
(10,413)
|
28,151
|
592
|
97,493
|
(78,959)
|
36,864
|
Other
comprehensive loss for the period
|
-
|
-
|
(3,388)
|
-
|
-
|
(3,388)
|
Total comprehensive loss for the period
|
-
|
-
|
(3,388)
|
-
|
-
|
(3,388)
|
Assignment
of results according to Shareholders´ Meeting
|
-
|
33,381
|
-
|
-
|
-
|
33,381
|
Repurchase
of treasury shares
|
(17,014)
|
-
|
-
|
-
|
-
|
(17,014)
|
Issuance
of shares
|
10,184
|
-
|
-
|
-
|
-
|
10,184
|
Reserve
for share-based payments
|
82
|
-
|
-
|
-
|
(1)
|
81
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
(41)
|
(41)
|
Balance as of March 31, 2024
|
(17,161)
|
61,532
|
(2,796)
|
97,493
|
(79,001)
|
60,067
|
|
.
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
|
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, 2022
|
805
|
6
|
236,309
|
19,693
|
445,266
|
1,641
|
21,061
|
156,428
|
(42,235)
|
234,118
|
1,073,092
|
73,456
|
1,146,548
|
Net
profit for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
119,339
|
119,339
|
3,878
|
123,217
|
Other
comprehensive (loss) / income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(4,186)
|
-
|
(4,186)
|
16
|
(4,170)
|
Total comprehensive (loss) / income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(4,186)
|
119,339
|
115,153
|
3,894
|
119,047
|
Assignment
of results according to Shareholders´ Meeting
|
-
|
-
|
-
|
-
|
-
|
-
|
10,389
|
-
|
173,395
|
(183,784)
|
-
|
-
|
-
|
Repurchase
of treasury shares
|
(5)
|
5
|
-
|
-
|
-
|
-
|
-
|
-
|
(3,812)
|
-
|
(3,812)
|
-
|
(3,812)
|
Warrants
exercise
|
-
|
-
|
-
|
(57)
|
140
|
-
|
-
|
-
|
-
|
-
|
83
|
-
|
83
|
Dividend
distribution
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(29,320)
|
(29,320)
|
(6,031)
|
(35,351)
|
Reserve
for share-based payments
|
-
|
-
|
-
|
-
|
-
|
(23)
|
-
|
-
|
23
|
-
|
-
|
-
|
-
|
Other
changes in equity
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(231)
|
-
|
(231)
|
8
|
(223)
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(70)
|
-
|
(70)
|
70
|
-
|
Balance as of March 31, 2023
|
800
|
11
|
236,309
|
19,636
|
445,406
|
1,618
|
31,450
|
156,428
|
122,884
|
140,353
|
1,154,895
|
71,397
|
1,226,292
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|
(5,027)
|
28,151
|
3,406
|
9,033
|
(77,798)
|
(42,235)
|
Other
comprehensive loss for the period
|
-
|
-
|
(3,356)
|
-
|
(830)
|
(4,186)
|
Total comprehensive loss for the period
|
-
|
-
|
(3,356)
|
-
|
(830)
|
(4,186)
|
Assignment
of results according to Shareholders' Meeting
|
-
|
-
|
-
|
173,395
|
-
|
173,395
|
Repurchase
of treasury shares
|
(3,812)
|
-
|
-
|
-
|
-
|
(3,812)
|
Reserve
for share-based payments
|
32
|
-
|
-
|
-
|
(9)
|
23
|
Other
changes in equity
|
-
|
-
|
(231)
|
-
|
-
|
(231)
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
(70)
|
(70)
|
Balance as of March 31, 2023
|
(8,807)
|
28,151
|
(181)
|
182,428
|
(78,707)
|
122,884
|
|
.
Eduardo S. Elsztain
President
|
|
Note
|
03.31.2024
|
03.31.2023
|
Operating activities:
|
|
|
|
Net
cash generated from operating activities before income tax
paid
|
15
|
80,588
|
84,867
|
Income
tax paid
|
|
(5,253)
|
(6,121)
|
Net cash generated from operating activities
|
|
75,335
|
78,746
|
Investing activities:
|
|
|
|
Contributions
and issuance of capital in associates and joint
ventures
|
|
-
|
(78)
|
Acquisition
and improvements of investment properties
|
|
(7,408)
|
(8,130)
|
Prepayment
for investment properties purchases
|
|
-
|
(6,555)
|
Proceeds
from sales of investment properties
|
|
39,114
|
70,868
|
Acquisitions
and improvements of property, plant and equipment
|
|
(2,452)
|
(1,493)
|
Proceeds
from sales of property, plant and equipment
|
|
8
|
8,580
|
Acquisitions
of intangible assets
|
|
(462)
|
(272)
|
Dividends
collected from associates and joint ventures
|
|
373
|
1,001
|
Proceeds
from sales of interest held in associates and joint
ventures
|
|
19,929
|
-
|
Proceeds
from loans granted
|
|
-
|
4
|
(Payments)
/ proceeds from derivative financial instruments
|
|
(1,323)
|
54
|
Acquisitions
of investments in financial assets
|
|
(176,811)
|
(57,184)
|
Proceeds
from disposal of investments in financial assets
|
|
211,011
|
77,136
|
Interest
received from financial assets
|
|
3,725
|
985
|
Proceeds
from loans granted to related parties
|
|
1,401
|
-
|
Increase
of loans granted to related parties
|
|
(150)
|
(4)
|
Net cash generated from investing activities
|
|
86,955
|
84,912
|
Financing activities:
|
|
|
|
Borrowings,
issuance and new placement of non-convertible notes
|
|
54,515
|
80,107
|
Payment
of borrowings and non-convertible notes
|
|
(48,822)
|
(209,407)
|
Obtaining
/ (payments) of short term loans, net
|
|
13,176
|
(2,180)
|
Interests
paid
|
|
(39,413)
|
(33,276)
|
Capital
contributions from non-controlling interest in
subsidiaries
|
|
72
|
-
|
Loans
received from associates and joint ventures, net
|
|
317
|
-
|
Payment
of borrowings to related parties
|
|
-
|
(85)
|
Dividends
paid
|
|
(133,433)
|
(20,344)
|
Warrants
exercise
|
|
739
|
81
|
Payment
of lease liabilities
|
|
(362)
|
(78)
|
Repurchase
of treasury shares
|
|
(17,014)
|
(3,812)
|
Net cash used in financing activities
|
|
(170,225)
|
(188,994)
|
Net
decrease in cash and cash equivalents
|
|
(7,935)
|
(25,336)
|
Cash and cash
equivalents at the beginning of the period
|
13
|
27,371
|
86,305
|
Inflation
adjustment
|
|
(8,065)
|
(2,133)
|
Foreign
exchange gain on cash and unrealized fair value result for cash
equivalents
|
|
9,610
|
(710)
|
Cash and cash equivalents at end of the period
|
13
|
20,981
|
58,126
|
|
|
|
|
.
Eduardo S. Elsztain
President
|
|
As of
March 31, 2024 (nine months)
|
As of
March 31, 2024 (twelve months)
|
Price
variation
|
213%
|
288%
|
|
03.31.2024
|
||||
|
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 / statement of financial
position
|
Revenues
|
177,236
|
(935)
|
37,264
|
-
|
213,565
|
Costs
|
(31,163)
|
112
|
(38,090)
|
-
|
(69,141)
|
Gross profit / (loss)
|
146,073
|
(823)
|
(826)
|
-
|
144,424
|
Net
loss from fair value adjustment of investment
properties
|
(385,910)
|
62
|
-
|
-
|
(385,848)
|
General
and administrative expenses
|
(20,571)
|
112
|
-
|
126
|
(20,333)
|
Selling
expenses
|
(11,961)
|
95
|
-
|
-
|
(11,866)
|
Other
operating results, net
|
(2,451)
|
(15)
|
313
|
(126)
|
(2,279)
|
(Loss) / profit from operations
|
(274,820)
|
(569)
|
(513)
|
-
|
(275,902)
|
Share
of profit / (loss) of associates and joint ventures
|
28,272
|
302
|
-
|
-
|
28,574
|
Segment (loss) / profit
|
(246,548)
|
(267)
|
(513)
|
-
|
(247,328)
|
Reportable
assets
|
1,558,152
|
4,072
|
-
|
257,070
|
1,819,294
|
Reportable
liabilities (i)
|
-
|
-
|
-
|
(887,137)
|
(887,137)
|
Net reportable assets
|
1,558,152
|
4,072
|
-
|
(630,067)
|
932,157
|
|
|
|
|
|
|
|
03.31.2023
|
||||
|
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 / statement of financial
position
|
Revenues
|
168,834
|
(977)
|
41,113
|
-
|
208,970
|
Costs
|
(30,184)
|
462
|
(41,861)
|
-
|
(71,583)
|
Gross profit / (loss)
|
138,650
|
(515)
|
(748)
|
-
|
137,387
|
Net
loss from fair value adjustment of investment
properties
|
(138,795)
|
3,392
|
-
|
-
|
(135,403)
|
General
and administrative expenses
|
(29,117)
|
144
|
-
|
124
|
(28,849)
|
Selling
expenses
|
(11,376)
|
60
|
-
|
-
|
(11,316)
|
Other
operating results, net
|
(18,664)
|
(74)
|
382
|
(124)
|
(18,480)
|
Loss from operations
|
(59,302)
|
3,007
|
(366)
|
-
|
(56,661)
|
Share
of profit of associates and joint ventures
|
7,466
|
(2,114)
|
-
|
-
|
5,352
|
Segment loss
|
(51,836)
|
893
|
(366)
|
-
|
(51,309)
|
Reportable
assets
|
1,994,109
|
(12,350)
|
-
|
273,828
|
2,255,587
|
Reportable
liabilities (i)
|
-
|
-
|
-
|
(1,029,296)
|
(1,029,296)
|
Net reportable assets
|
1,994,109
|
(12,350)
|
-
|
(755,468)
|
1,226,291
|
|
|
|
|
|
|
|
03.31.2024
|
|||||
|
Shopping Malls
|
Offices
|
Sales and developments
|
Hotels
|
Others (i)
|
Total
|
Revenues
|
113,210
|
10,766
|
7,370
|
43,607
|
2,283
|
177,236
|
Costs
|
(6,497)
|
(580)
|
(4,158)
|
(18,130)
|
(1,798)
|
(31,163)
|
Gross profit
|
106,713
|
10,186
|
3,212
|
25,477
|
485
|
146,073
|
Net
loss from fair value adjustment of investment
properties
|
(13,282)
|
(113,238)
|
(259,353)
|
-
|
(37)
|
(385,910)
|
General
and administrative expenses
|
(14,292)
|
(1,181)
|
(5,658)
|
(6,056)
|
6,616
|
(20,571)
|
Selling
expenses
|
(5,837)
|
(288)
|
(2,542)
|
(2,866)
|
(428)
|
(11,961)
|
Other
operating results, net
|
(1,279)
|
(103)
|
(1,506)
|
(834)
|
1,271
|
(2,451)
|
Profit / (loss) from operations
|
72,023
|
(104,624)
|
(265,847)
|
15,721
|
7,907
|
(274,820)
|
Share
of profit of associates and joint ventures
|
-
|
-
|
-
|
-
|
28,272
|
28,272
|
Segment profit / (loss)
|
72,023
|
(104,624)
|
(265,847)
|
15,721
|
36,179
|
(246,548)
|
|
|
|
|
|
|
|
Investment
properties and trading properties
|
572,683
|
227,432
|
558,146
|
-
|
2,263
|
1,360,524
|
Investment
in associates and joint ventures
|
-
|
-
|
-
|
-
|
117,922
|
117,922
|
Other
operating assets
|
2,057
|
289
|
45,696
|
27,265
|
4,399
|
79,706
|
Reportable assets
|
574,740
|
227,721
|
603,842
|
27,265
|
124,584
|
1,558,152
|
|
03.31.2023
|
|||||
|
Shopping Malls
|
Offices
|
Sales and developments
|
Hotels
|
Others (i)
|
Total
|
Revenues
|
108,886
|
11,279
|
10,666
|
35,874
|
2,129
|
168,834
|
Costs
|
(7,513)
|
(935)
|
(2,901)
|
(17,109)
|
(1,726)
|
(30,184)
|
Gross profit
|
101,373
|
10,344
|
7,765
|
18,765
|
403
|
138,650
|
Net
loss from fair value adjustment of investment
properties
|
(40,796)
|
(17,202)
|
(80,467)
|
-
|
(330)
|
(138,795)
|
General
and administrative expenses
|
(14,297)
|
(1,617)
|
(5,283)
|
(5,434)
|
(2,486)
|
(29,117)
|
Selling
expenses
|
(5,240)
|
(221)
|
(3,297)
|
(2,370)
|
(248)
|
(11,376)
|
Other
operating results, net
|
(927)
|
(151)
|
(2,219)
|
(442)
|
(14,925)
|
(18,664)
|
Profit / (loss) from operations
|
40,113
|
(8,847)
|
(83,501)
|
10,519
|
(17,586)
|
(59,302)
|
Share
of profit of associates and joint ventures
|
-
|
-
|
-
|
-
|
7,466
|
7,466
|
Segment profit / (loss)
|
40,113
|
(8,847)
|
(83,501)
|
10,519
|
(10,120)
|
(51,836)
|
|
|
|
|
|
|
|
Investment
properties and trading properties
|
580,768
|
388,191
|
881,285
|
-
|
2,541
|
1,852,785
|
Investment
in associates and joint ventures
|
-
|
-
|
-
|
-
|
85,238
|
85,238
|
Other
operating assets
|
1,735
|
345
|
21,729
|
27,652
|
4,625
|
56,086
|
Reportable assets
|
582,503
|
388,536
|
903,014
|
27,652
|
92,404
|
1,994,109
|
|
|
|
|
|
|
|
|
03.31.2024
|
06.30.2023
|
Beginning of the period / year
|
116,166
|
108,937
|
Sale
of interest in associates and joint ventures (i)
|
(22,022)
|
-
|
Capital
contributions
|
-
|
171
|
Share
of profit
|
28,574
|
8,216
|
Currency
translation adjustment
|
(154)
|
(158)
|
Dividends
(Note 25)
|
(373)
|
(1,000)
|
End of the period / year (ii)
|
122,191
|
116,166
|
|
% ownership interest
|
Value of Group's interest in equity
|
Group's interest in comprehensive income / (loss)
|
|||
Name of the entity
|
03.31.2024
|
06.30.2023
|
03.31.2024
|
06.30.2023
|
03.31.2024
|
03.31.2023
|
Associates and joint ventures
|
|
|
|
|
|
|
New
Lipstick
|
49.96%
|
49.96%
|
1,011
|
761
|
74
|
(23)
|
BHSA
|
29.91%
|
29.91%
|
98,118
|
74,947
|
23,171
|
5,667
|
Quality
(1)
|
-
|
50.00%
|
-
|
21,896
|
-
|
(2,552)
|
La
Rural SA
|
50.00%
|
50.00%
|
10,272
|
3,804
|
6,467
|
2,432
|
GCDI
(2)
|
27.39%
|
27.82%
|
2,644
|
6,001
|
(3,230)
|
(582)
|
Other
joint ventures
|
N/A
|
N/A
|
10,146
|
8,757
|
1,938
|
291
|
Total associates and joint ventures
|
|
|
122,191
|
116,166
|
28,420
|
5,233
|
|
|
|
|
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 and joint ventures
|
|
|
|
|
|
|
New
Lipstick
|
USA
|
Real
estate
|
23,631,037(*)
|
47(*)
|
(2)(*)
|
(46)
|
BHSA
|
Argentina
|
Financial
|
448,689,072(**)
|
1,500(**)
|
77,461(**)
|
320,860
|
La
Rural SA
|
Argentina
|
Organization
of events
|
715
|
1
|
13,077
|
20,000
|
GCDI
(2)
|
Argentina
|
Real
estate
|
250,713,162
|
915
|
(10,557)
|
9,653
|
|
03.31.2024
|
06.30.2023
|
||
|
Level 2
|
Level 3
|
Level 2
|
Level 3
|
Fair value at the beginning of the period / year
|
1,231,804
|
554,331
|
1,408,860
|
572,410
|
Additions
|
3,111
|
4,827
|
10,394
|
8,495
|
Capitalized
leasing costs
|
6
|
58
|
44
|
160
|
Amortization
of capitalized leasing costs (i)
|
(95)
|
(105)
|
(56)
|
(53)
|
Transfers
|
(23,122)
|
(6)
|
(62,830)
|
2,764
|
Disposals
|
(42,291)
|
-
|
-
|
-
|
Currency
translation adjustment
|
69
|
-
|
(54)
|
-
|
Net
loss from fair value adjustment (ii)
|
(382,447)
|
(3,401)
|
(124,554)
|
(29,445)
|
Fair value at the end of the period / year
|
787,035
|
555,704
|
1,231,804
|
554,331
|
|
|
|
|
|
|
03.31.2024
|
06.30.2023
|
Shopping
Malls (i)
|
572,679
|
581,468
|
Offices
and other rental properties
|
251,648
|
415,065
|
Undeveloped
parcels of land
|
516,531
|
787,725
|
Properties
under development
|
393
|
244
|
Others
|
1,488
|
1,633
|
Total
|
1,342,739
|
1,786,135
|
|
|
|
|
03.31.2024
|
03.31.2023
|
Revenues
(Note 20)
|
164,145
|
163,613
|
Direct
operating costs
|
(47,239)
|
(52,234)
|
Development
costs
|
(850)
|
(590)
|
Net
realized gain from fair value adjustment of investment properties
(i)
|
26,378
|
37,883
|
Net
unrealized loss from fair value adjustment of investment properties
(ii)
|
(412,226)
|
(173,286)
|
|
|
|
|
Buildings and facilities
|
Machinery and equipment
|
Others (i)
|
03.31.2024
|
06.30.2023
|
Costs
|
71,222
|
29,109
|
6,614
|
106,945
|
125,059
|
Accumulated
depreciation
|
(42,422)
|
(27,556)
|
(5,168)
|
(75,146)
|
(71,084)
|
Net book amount at the beginning of the period / year
|
28,800
|
1,553
|
1,446
|
31,799
|
53,975
|
Additions
|
1,767
|
423
|
262
|
2,452
|
2,485
|
Disposals
|
-
|
(5)
|
(4)
|
(9)
|
(10,604)
|
Currency
translation adjustment
|
-
|
-
|
3
|
3
|
(8)
|
Transfers
|
-
|
8
|
-
|
8
|
(9,987)
|
Depreciation
charges (ii)
|
(2,074)
|
(516)
|
(218)
|
(2,808)
|
(4,062)
|
Balances at the end of the period / year
|
28,493
|
1,463
|
1,489
|
31,445
|
31,799
|
Costs
|
72,989
|
29,535
|
6,875
|
109,399
|
106,945
|
Accumulated
depreciation
|
(44,496)
|
(28,072)
|
(5,386)
|
(77,954)
|
(75,146)
|
Net book amount at the end of the period / year
|
28,493
|
1,463
|
1,489
|
31,445
|
31,799
|
|
|
|
|
|
|
|
Completed properties
|
Properties under development
|
Undeveloped sites
|
03.31.2024
|
06.30.2023
|
Beginning of the period / year
|
1,860
|
10,165
|
7,337
|
19,362
|
21,848
|
Additions
|
-
|
390
|
48
|
438
|
993
|
Currency
translation adjustment
|
-
|
393
|
-
|
393
|
47
|
Transfers
|
-
|
-
|
-
|
-
|
(1,354)
|
Disposals
|
(60)
|
(2,352)
|
-
|
(2,412)
|
(2,172)
|
End of the period / year
|
1,800
|
8,596
|
7,385
|
17,781
|
19,362
|
Non-current
|
|
|
|
17,373
|
18,911
|
Current
|
|
|
|
408
|
451
|
Total
|
|
|
|
17,781
|
19,362
|
|
|
|
|
|
|
|
Goodwill
|
Information systems and software
|
Future units to be received from barters and others
|
03.31.2024
|
06.30.2023
|
Costs
|
1,496
|
9,356
|
26,108
|
36,960
|
33,714
|
Accumulated
amortization
|
-
|
(8,573)
|
(3,491)
|
(12,064)
|
(10,889)
|
Net book amount at the beginning of the period / year
|
1,496
|
783
|
22,617
|
24,896
|
22,825
|
Additions
|
3
|
301
|
6,816
|
7,120
|
4,434
|
Disposals
|
-
|
-
|
(200)
|
(200)
|
(561)
|
Transfers
|
-
|
-
|
23,120
|
23,120
|
(627)
|
Currency
translation adjustment
|
4
|
-
|
-
|
4
|
-
|
Amortization
charges (i)
|
-
|
(429)
|
(24)
|
(453)
|
(1,175)
|
Balances at the end of the period / year
|
1,503
|
655
|
52,329
|
54,487
|
24,896
|
Costs
|
1,503
|
9,657
|
55,844
|
67,004
|
36,960
|
Accumulated
amortization
|
-
|
(9,002)
|
(3,515)
|
(12,517)
|
(12,064)
|
Net book amount at the end of the period / year
|
1,503
|
655
|
52,329
|
54,487
|
24,896
|
|
|
|
|
|
|
|
03.31.2024
|
06.30.2023
|
Offices,
shopping malls and other rental properties
|
1,839
|
1,432
|
Convention
center
|
7,410
|
7,765
|
Total Right-of-use assets
|
9,249
|
9,197
|
Non-current
|
9,249
|
9,197
|
Total
|
9,249
|
9,197
|
|
|
|
|
03.31.2024
|
03.31.2023
|
Offices,
shopping malls and other rental properties
|
284
|
41
|
Convention
center
|
353
|
324
|
Total depreciation of right-of-use assets (i)
|
637
|
365
|
|
|
|
|
Financial assets at amortized cost
|
Financial assets at fair value through profit or loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
|
|
|
Level 1
|
Level 3
|
|
|
|
March 31, 2024
|
|
|
|
|
|
|
Assets as per Statements of Financial Position
|
|
|
|
|
|
|
Trade
and other receivables (excluding the allowance for doubtful
accounts and other receivables) (Note 14)
|
69,022
|
-
|
-
|
69,022
|
20,116
|
89,138
|
Investments
in financial assets:
|
|
|
|
|
|
|
-
Public companies’ securities
|
-
|
16,092
|
-
|
16,092
|
-
|
16,092
|
-
Mutual funds
|
-
|
67,037
|
-
|
67,037
|
-
|
67,037
|
-
Bonds
|
-
|
36,086
|
-
|
36,086
|
-
|
36,086
|
-
Others
|
4,752
|
5,313
|
332
|
10,397
|
-
|
10,397
|
Derivative
financial instruments:
|
|
|
|
|
|
|
-
Foreign-currency future contracts
|
-
|
69
|
-
|
69
|
-
|
69
|
-
Bond futures
|
-
|
15
|
-
|
15
|
-
|
15
|
Cash
and cash equivalents:
|
|
|
|
|
|
|
-
Cash at bank and on hand
|
13,394
|
-
|
-
|
13,394
|
-
|
13,394
|
-
Short-term investments
|
-
|
7,587
|
-
|
7,587
|
-
|
7,587
|
Total assets
|
87,168
|
132,199
|
332
|
219,699
|
20,116
|
239,815
|
|
Financial liabilities at amortized cost
|
Financial liabilities at fair value through profit or
loss
|
Subtotal financial liabilities
|
Non-financial liabilities
|
Total
|
|
|
|
Level 1
|
Level 3
|
|
|
|
March 31, 2024
|
|
|
|
|
|
|
Liabilities as per Statements of Financial Position
|
|
|
|
|
|
|
Trade
and other payables (Note 16)
|
31,020
|
-
|
-
|
31,020
|
54,401
|
85,421
|
Borrowings
(Note 17)
|
320,008
|
-
|
-
|
320,008
|
-
|
320,008
|
Total liabilities
|
351,028
|
-
|
-
|
351,028
|
54,401
|
405,429
|
|
Financial assets at amortized cost
|
Financial assets at fair value through profit or loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
|
|
Level 1
|
|
|
|
June 30, 2023
|
|
|
|
|
|
Assets as per Statements of Financial Position
|
|
|
|
|
|
Trade
and other receivables (excluding the allowance for doubtful
accounts and other receivables) (Note 14)
|
75,681
|
-
|
75,681
|
23,043
|
98,724
|
Investments
in financial assets:
|
|
|
|
|
|
-
Public companies’ securities
|
-
|
15,812
|
15,812
|
-
|
15,812
|
-
Mutual funds
|
-
|
63,147
|
63,147
|
-
|
63,147
|
-
Bonds
|
-
|
28,875
|
28,875
|
-
|
28,875
|
-
Others
|
1,965
|
4,055
|
6,020
|
-
|
6,020
|
Cash
and cash equivalents:
|
|
|
|
|
|
-
Cash at bank and on hand
|
16,463
|
-
|
16,463
|
-
|
16,463
|
-
Short term investments
|
-
|
10,908
|
10,908
|
-
|
10,908
|
Total assets
|
94,109
|
122,797
|
216,906
|
23,043
|
239,949
|
|
|
|
|
|
|
|
Financial liabilities at amortized cost
|
Financial liabilities at fair value through profit or
loss
|
Subtotal financial liabilities
|
Non-financial liabilities
|
Total
|
|
|
Level 1
|
|
|
|
June 30, 2023
|
|
|
|
|
|
Liabilities as per Statements of Financial Position
|
|
|
|
|
|
Trade
and other payables (Note 16)
|
61,624
|
-
|
61,624
|
63,382
|
125,006
|
Borrowings
(Note 17)
|
338,235
|
-
|
338,235
|
-
|
338,235
|
Derivative
financial instruments:
|
|
|
|
|
|
-
Bond futures
|
-
|
19
|
19
|
-
|
19
|
Total liabilities
|
399,859
|
19
|
399,878
|
63,382
|
463,260
|
|
|
|
|
|
|
Description
|
Pricing model / method
|
Parameters
|
Fair value hierarchy
|
Range
|
Purchase
option - Warrant (Others)
|
Black
& Scholes with dilution
|
Underlying
asset price and volatility
|
Level
3
|
-
|
|
03.31.2024
|
06.30.2023
|
Sale,
leases and services receivables
|
36,746
|
46,749
|
Less:
Allowance for doubtful accounts
|
(2,746)
|
(3,741)
|
Total trade receivables
|
34,000
|
43,008
|
Borrowings,
deposits and others
|
30,594
|
29,342
|
Advances
to suppliers
|
7,111
|
7,298
|
Tax
receivables
|
4,323
|
4,638
|
Prepaid
expenses
|
2,151
|
1,908
|
Long-term
incentive plan
|
1
|
3
|
Others
|
8,212
|
8,786
|
Total other receivables
|
52,392
|
51,975
|
Total trade and other receivables
|
86,392
|
94,983
|
Non-current
|
15,310
|
13,903
|
Current
|
71,082
|
81,080
|
Total
|
86,392
|
94,983
|
|
03.31.2024
|
06.30.2023
|
Beginning of the period / year
|
3,741
|
5,766
|
Additions
(i)
|
535
|
658
|
Recovery
(i)
|
(171)
|
(379)
|
Exchange
rate differences
|
2,388
|
1,163
|
Receivables
written off during the period/year as uncollectible
|
4
|
-
|
Inflation
adjustment
|
(3,751)
|
(3,467)
|
End of the period / year
|
2,746
|
3,741
|
|
|
|
|
Note
|
03.31.2024
|
03.31.2023
|
(Loss)
/ profit for the period
|
|
(111,728)
|
123,217
|
Adjustments
for:
|
|
|
|
Income
tax
|
19
|
(64,022)
|
(137,459)
|
Amortization
and depreciation
|
21
|
4,098
|
4,591
|
Loss
from disposal of property, plant and equipment
|
23
|
1
|
2,144
|
Net
loss from fair value adjustment of investment
properties
|
8
|
385,848
|
135,403
|
Loss
from disposal of intangible assets
|
|
200
|
-
|
Loss
from disposal of joint ventures
|
23
|
1,210
|
-
|
Realization
of currency translation adjustment
|
23
|
-
|
(1,343)
|
Gain
from disposal of trading properties
|
|
(3,417)
|
(7,641)
|
Financial
results, net
|
|
(73,722)
|
(46,418)
|
Provisions
and allowances
|
|
451
|
26,623
|
Share
of profit of associates and joint ventures
|
7
|
(28,574)
|
(5,352)
|
Changes in operating assets and liabilities:
|
|
|
|
Decrease
/ (increase) in inventories
|
|
98
|
(334)
|
(Increase)
/ decrease in trading properties
|
|
(217)
|
400
|
Decrease
in trade and other receivables
|
|
11,745
|
1,311
|
Decrease
in trade and other payables
|
|
(37,432)
|
(10,581)
|
(Decrease)
/ increase in salaries and social security liabilities
|
|
(3,621)
|
446
|
Decrease
in provisions
|
|
(330)
|
(140)
|
Net cash generated by operating activities before income tax
paid
|
|
80,588
|
84,867
|
|
|
|
|
03.31.2024
|
03.31.2023
|
Issuance
of non-convertible notes
|
-
|
143,950
|
Increase
in investment properties through an increase in trade and other
payables
|
-
|
109
|
Currency
translation adjustment
|
3,292
|
4,170
|
Decrease
in investment properties through an increase in property, plant and
equipment
|
8
|
58
|
Decrease
in property, plant and equipment through an increase in investment
properties
|
-
|
10,057
|
Decrease
in property, plant and equipment through an increase in revaluation
surplus
|
-
|
829
|
Decrease
in investments in financial assets through a decrease in trade and
other payables
|
-
|
1,152
|
Decrease
in dividends receivables through an increase in investments in
financial assets
|
-
|
31
|
Decrease
in Shareholders’ Equity through a decrease in trade and other
receivables
|
3,512
|
5,309
|
Decrease
in investment properties through a decrease in investments in
financial assets
|
-
|
244
|
Decrease
in Shareholders’ Equity through a decrease in investments in
financial assets
|
-
|
9,697
|
Increase
in right-of-use assets through an increase in lease
liabilities
|
690
|
1,404
|
Decrease
in Shareholders’ Equity through an increase in trade and
other payables
|
4,144
|
-
|
Decrease
in trading properties through a decrease in borrowings
|
1,915
|
-
|
Increase
in intangible assets through a decrease in trading
properties
|
-
|
1,575
|
Barter
transactions of investment properties
|
594
|
-
|
Decrease
in investment properties through an increase in trade and other
receivables
|
2,509
|
-
|
Decrease
in investments in associates and joint ventures through an increase
in trade and other receivables
|
1,136
|
-
|
Increase
in intangible assets through a decrease in investment
properties
|
23,120
|
-
|
Increase
in intangible assets through trade and other payables
|
6,658
|
-
|
Increase
of investments in financial assets through an increase in
borrowings
|
420
|
-
|
Increase
in investments in associates and joint ventures through a decrease
in trade and other receivables
|
-
|
93
|
|
03.31.2024
|
06.30.2023
|
Customers´
advances (*)
|
24,795
|
28,481
|
Trade
payables
|
6,210
|
8,855
|
Accrued
invoices
|
6,303
|
7,683
|
Admission
fees (*)
|
23,821
|
25,601
|
Other
income to be accrued
|
413
|
454
|
Tenant
deposits
|
431
|
442
|
Total trade payables
|
61,973
|
71,516
|
Taxes
payable
|
5,372
|
8,846
|
Other
payables
|
18,076
|
44,644
|
Total other payables
|
23,448
|
53,490
|
Total trade and other payables
|
85,421
|
125,006
|
Non-current
|
28,894
|
30,828
|
Current
|
56,527
|
94,178
|
Total
|
85,421
|
125,006
|
|
|
|
|
Book value
|
Fair value
|
||
|
03.31.2024
|
06.30.2023
|
03.31.2024
|
06.30.2023
|
Non-convertible
notes
|
308,343
|
302,694
|
310,657
|
304,819
|
Bank
loans and others
|
2,631
|
8,069
|
2,631
|
8,069
|
Bank
overdrafts
|
3,278
|
20,656
|
3,278
|
20,656
|
Other
borrowings
|
4,010
|
5,390
|
4,010
|
5,390
|
Loans
with non-controlling interests
|
1,746
|
1,426
|
1,746
|
1,426
|
Total borrowings
|
320,008
|
338,235
|
322,322
|
340,360
|
Non-current
|
178,169
|
210,961
|
|
|
Current
|
141,839
|
127,274
|
|
|
Total
|
320,008
|
338,235
|
|
|
|
|
|
|
|
|
Legal claims (iii)
|
Investments in associates and joint ventures (ii)
|
03.31.2024
|
06.30.2023
|
Beginning of the period / year
|
21,189
|
3
|
21,192
|
2,663
|
Additions
(i)
|
4,142
|
-
|
4,142
|
24,053
|
Share
of loss of associates
|
-
|
8
|
8
|
(50)
|
Recovery
(i)
|
(65)
|
-
|
(65)
|
(702)
|
Used
during the period / year
|
(330)
|
-
|
(330)
|
(210)
|
Inflation
adjustment
|
(2,524)
|
-
|
(2,524)
|
(4,562)
|
End of the period / year
|
22,412
|
11
|
22,423
|
21,192
|
Non-current
|
|
|
19,914
|
18,547
|
Current
|
|
|
2,509
|
2,645
|
Total
|
|
|
22,423
|
21,192
|
|
|
|
|
|
|
03.31.2024
|
03.31.2023
|
Current
income tax
|
(60,615)
|
61,834
|
Deferred
income tax
|
124,637
|
75,625
|
Income tax
|
64,022
|
137,459
|
|
|
|
|
03.31.2024
|
03.31.2023
|
Loss for the period at tax rate applicable in the respective
countries
|
63,847
|
5,116
|
Permanent differences:
|
|
|
Share
of loss / (profit) of associates and joint ventures
|
9,135
|
(791)
|
Provision
of tax loss carry forwards
|
677
|
(14,208)
|
Inflation
adjustment permanent difference
|
7,964
|
62,796
|
Difference
between provision and tax return
|
(400)
|
15,507
|
Non-taxable
profit, non-deductible expenses and others
|
3,639
|
61,522
|
Tax
inflation adjustment
|
(20,840)
|
7,517
|
Income tax
|
64,022
|
137,459
|
|
|
|
|
03.31.2024
|
06.30.2023
|
Beginning of period / year
|
(516,506)
|
(665,486)
|
Deferred
income tax charge
|
124,637
|
148,980
|
End of period / year
|
(391,869)
|
(516,506)
|
Deferred
income tax assets
|
3,225
|
2,695
|
Deferred
income tax liabilities
|
(395,094)
|
(519,201)
|
Deferred income tax liabilities, net
|
(391,869)
|
(516,506)
|
|
|
|
|
03.31.2024
|
03.31.2023
|
Base
rent
|
61,778
|
58,456
|
Contingent
rent
|
43,314
|
44,654
|
Admission
rights
|
10,548
|
9,603
|
Parking
fees
|
5,311
|
4,778
|
Commissions
|
1,832
|
2,551
|
Property
management fees
|
1,080
|
1,069
|
Others
|
1,231
|
1,055
|
Averaging
of scheduled rent escalation
|
1,787
|
338
|
Rentals and services income
|
126,881
|
122,504
|
Revenue
from hotels operation and tourism services
|
43,590
|
35,867
|
Sale
of trading properties
|
5,830
|
9,490
|
Total revenues from sales, rentals and services
|
176,301
|
167,861
|
Expenses
and collective promotion fund
|
37,264
|
41,109
|
Total revenues from expenses and collective promotion
funds
|
37,264
|
41,109
|
Total Group’s revenues
|
213,565
|
208,970
|
|
Costs
|
General and administrative expenses
|
Selling expenses
|
03.31.2024
|
03.31.2023
|
Cost
of sale of goods and services
|
5,940
|
-
|
-
|
5,940
|
4,628
|
Salaries,
social security costs and other personnel expenses
|
24,110
|
13,248
|
1,743
|
39,101
|
38,515
|
Depreciation
and amortization
|
3,014
|
877
|
207
|
4,098
|
4,591
|
Fees
and payments for services
|
1,464
|
4,480
|
1,469
|
7,413
|
7,809
|
Maintenance,
security, cleaning, repairs and others
|
19,576
|
2,627
|
34
|
22,237
|
21,320
|
Advertising
and other selling expenses
|
8,656
|
45
|
1,532
|
10,233
|
12,919
|
Taxes,
rates and contributions
|
3,878
|
1,430
|
6,425
|
11,733
|
11,548
|
Director´s
fees (Note 25) (i)
|
-
|
(3,990)
|
-
|
(3,990)
|
6,358
|
Leases
and service charges
|
724
|
240
|
23
|
987
|
1,365
|
Allowance
for doubtful accounts, net
|
-
|
-
|
364
|
364
|
145
|
Other
expenses
|
1,779
|
1,376
|
69
|
3,224
|
2,550
|
Total as of March 31, 2024
|
69,141
|
20,333
|
11,866
|
101,340
|
-
|
Total as of March 31, 2023
|
71,583
|
28,849
|
11,316
|
-
|
111,748
|
|
|
|
|
|
|
|
03.31.2024
|
03.31.2023
|
Inventories
at the beginning of the period
|
20,399
|
22,690
|
Purchases
and expenses
|
69,484
|
72,570
|
Currency
translation adjustment
|
393
|
(249)
|
Disposals
|
(2,412)
|
(1,455)
|
Inventories
at the end of the period
|
(18,723)
|
(21,973)
|
Total costs
|
69,141
|
71,583
|
|
|
|
|
03.31.2024
|
06.30.2023
|
Real
estate
|
17,781
|
19,362
|
Others
|
942
|
1,037
|
Total inventories at the end of the period (*)
|
18,723
|
20,399
|
|
|
|
|
03.31.2024
|
03.31.2023
|
Realization
of currency translation adjustment (*)
|
-
|
1,343
|
Donations
|
(340)
|
(392)
|
Loss
from disposal of associates and joint ventures
|
(1,210)
|
-
|
Lawsuits
and other contingencies
|
(4,077)
|
(20,120)
|
Administration
fees
|
200
|
255
|
Interest
and allowances generated by operating credits
|
1,416
|
1,444
|
Loss
from disposal of property, plant and equipment
|
(1)
|
(2,144)
|
Others
|
1,733
|
1,134
|
Total other operating results, net
|
(2,279)
|
(18,480)
|
|
|
|
|
03.31.2024
|
03.31.2023
|
Finance
income:
|
|
|
-
Interest income
|
17,790
|
1,930
|
Total finance income
|
17,790
|
1,930
|
Finance
costs:
|
|
|
-
Interest expenses
|
(28,752)
|
(35,181)
|
-
Other finance costs
|
(5,260)
|
(3,658)
|
Total finance costs
|
(34,012)
|
(38,839)
|
Other
financial results:
|
|
|
-
Fair value gain of financial assets and liabilities at fair value
through profit or loss, net
|
81,180
|
11,402
|
-
Exchange rate differences, net
|
(15,663)
|
19,366
|
-
(Loss) / gain from repurchase of non-convertible notes
|
(145)
|
758
|
-
(Loss) / gain from derivative financial instruments,
net
|
(1,245)
|
167
|
-
Other financial results
|
(2,692)
|
(173)
|
Total other financial results
|
61,435
|
31,520
|
- Inflation
adjustment
|
26,365
|
42,456
|
Total financial results, net
|
71,578
|
37,067
|
|
|
|
Item
|
03.31.2024
|
06.30.2023
|
Trade
and other receivables
|
21,738
|
24,469
|
Investments
in financial assets
|
4,184
|
5,395
|
Borrowings
|
(1,234)
|
(965)
|
Trade
and other payables
|
(15,460)
|
(41,419)
|
Total
|
9,228
|
(12,520)
|
|
|
|
Related party
|
03.31.2024
|
06.30.2023
|
Description of transaction
|
Item
|
New
Lipstick LLC
|
208
|
194
|
Reimbursement
of expenses receivable
|
Trade
and other receivable
|
Comparaencasa
Ltd.
|
1,866
|
1,751
|
Other
investments
|
Investments
in financial assets
|
|
185
|
-
|
Loans
granted
|
Trade
and other receivable
|
Galerias
Pacifico
|
3,041
|
4,920
|
Others
|
Trade
and other receivable
|
La
Rural S.A.
|
1,299
|
2,494
|
Canon
|
Trade
and other receivable
|
|
(3)
|
(429)
|
Others
|
Trade
and other payables
|
|
8
|
6
|
Others
|
Trade
and other receivable
|
Other
associates and joint ventures
|
-
|
3
|
Reimbursement
of expenses receivable
|
Trade
and other receivable
|
|
(493)
|
(269)
|
Loans
obtained
|
Borrowings
|
|
37
|
38
|
Leases
and/or rights of use receivable
|
Trade
and other receivable
|
|
-
|
141
|
Irrevocable
contributions pending subscription
|
Trade
and other receivable
|
|
4
|
85
|
Management
Fee
|
Trade
and other receivable
|
|
(441)
|
(420)
|
Non-convertible
notes
|
Borrowings
|
|
(60)
|
(219)
|
Others
|
Trade
and other payables
|
|
17
|
56
|
Others
|
Trade
and other receivable
|
|
1
|
3
|
Share
based payments
|
Trade
and other payables
|
|
10
|
-
|
Loans
granted
|
Trade
and other receivable
|
Total associates and joint ventures
|
5,679
|
8,354
|
|
|
Cresud
|
519
|
-
|
Reimbursement
of expenses receivable
|
Trade
and other receivable
|
|
(1,385)
|
(2,457)
|
Corporate
services receivable
|
Trade
and other payables
|
|
403
|
1,338
|
Non-convertible
notes
|
Investments
in financial assets
|
|
(446)
|
(790)
|
Others
|
Trade
and other payables
|
|
(3)
|
(9)
|
Share
based payments
|
Trade
and other payables
|
Total parent company
|
(912)
|
(1,918)
|
|
|
Futuros
y Opciones S.A.
|
-
|
3
|
Others
|
Trade
and other receivable
|
Helmir
S.A.
|
(300)
|
(276)
|
Non-convertible
notes
|
Borrowings
|
Total subsidiaries of parent company
|
(300)
|
(273)
|
|
|
Directors
|
(4,775)
|
(37,095)
|
Fees
for services received
|
Trade
and other payables
|
Rundel
Global LTD
|
1,915
|
2,306
|
Other
investments
|
Investments
in financial assets
|
Yad
Levim LTD
|
16,373
|
14,850
|
Loans
granted
|
Trade
and other receivable
|
Sociedad
Rural Argentina S.A.
|
-
|
1,593
|
Others
|
Trade
and other receivable
|
|
(8,674)
|
(296)
|
Others
|
Trade
and other payables
|
Others
(1)
|
(31)
|
(28)
|
Leases
and/or rights of use receivable
|
Trade
and other payables
|
|
11
|
8
|
Others
|
Trade
and other receivable
|
|
(84)
|
(99)
|
Others
|
Trade
and other payables
|
|
26
|
78
|
Reimbursement
of expenses receivable
|
Trade
and other receivable
|
Total directors and others
|
4,761
|
(18,683)
|
|
|
Total at the end of the period / year
|
9,228
|
(12,520)
|
|
|
Related party
|
03.31.2024
|
03.31.2023
|
Description of transaction
|
Condor
|
-
|
12
|
Financial
operations
|
BHN
Vida S.A
|
(37)
|
(4)
|
Leases
and/or rights of use
|
BHN
Seguros Generales S.A.
|
(12)
|
(4)
|
Leases
and/or rights of use
|
Comparaencasa
Ltd.
|
1,317
|
93
|
Financial
operations
|
Otras
asociadas y negocios conjuntos
|
28
|
175
|
Financial
operations
|
|
(3)
|
(140)
|
Leases
and/or rights of use
|
|
162
|
217
|
Corporate
services
|
Total associates and joint ventures
|
1,455
|
349
|
|
Cresud
|
55
|
240
|
Leases
and/or rights of use
|
|
(6,381)
|
(6,702)
|
Corporate
services
|
|
(87)
|
4,247
|
Financial
operations
|
Total parent company
|
(6,413)
|
(2,215)
|
|
Helmir
|
(241)
|
(39)
|
Financial
operations
|
Total subsidiaries of parent company
|
(241)
|
(39)
|
|
Directors
(1)
|
3,990
|
(6,357)
|
Fees
and remunerations
|
Senior
Management
|
(322)
|
(407)
|
Fees
and remunerations
|
Rundel
Globa LTD
|
2,675
|
-
|
Financial
operations
|
Yad
Leviim LTD
|
559
|
508
|
Financial
operations
|
Sociedad
Rural Argentina S.A.
|
432
|
117
|
Financial
operations
|
Others
(2)
|
39
|
27
|
Corporate
services
|
|
(75)
|
(31)
|
Leases
and/or rights of use
|
|
258
|
(253)
|
Financial
operations
|
|
(216)
|
(310)
|
Donations
|
|
(696)
|
(182)
|
Fees
and remuneration
|
|
(327)
|
1,024
|
Legal
services
|
Total others
|
6,317
|
(5,864)
|
|
Total at the end of the period
|
1,118
|
(7,769)
|
|
Related party
|
03.31.2024
|
03.31.2023
|
Description of the operation
|
GCDI
S.A.
|
(126)
|
-
|
Sale
of shares
|
Quality
Invest S.A.
|
(21,896)
|
-
|
Sale
of shares
|
Total sale of shares
|
(22,022)
|
-
|
|
Quality
Invest S.A.
|
-
|
(171)
|
Capital
contributions
|
Total capital contributions
|
-
|
(171)
|
|
Condor
|
-
|
325
|
Dividends
received
|
Nuevo
Puerto Santa Fe
|
373
|
675
|
Dividends
received
|
Total dividends received
|
373
|
1,000
|
|
|
|
|
|
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
Costs
|
Exhibit
G - Foreign currency assets and liabilities
|
Note 27
Foreign currency assets and liabilities
|
Item / Currency (1)
|
Amount
|
Peso exchange rate (2)
|
03.31.2024
|
06.30.2023
|
Assets
|
|
|
|
|
Trade and other receivables
|
|
|
|
|
US
Dollar
|
26.50
|
855.00
|
22,661
|
20,546
|
Euros
|
0.08
|
924.17
|
74
|
72
|
Receivables with related parties:
|
|
|
|
|
US
Dollar
|
19.60
|
858.00
|
16,813
|
16,338
|
Total trade and other receivables
|
|
|
39,548
|
36,956
|
Investments in financial assets
|
|
|
|
|
US
Dollar
|
93.86
|
855.00
|
80,247
|
57,387
|
Pounds
|
0.62
|
1,079.18
|
665
|
743
|
New
Israel Shekel
|
4.31
|
233.29
|
1,005
|
1,094
|
Investments with related parties:
|
|
|
|
|
US
Dollar
|
4.88
|
858.00
|
4,184
|
4,719
|
Total investments in financial assets
|
|
|
86,101
|
63,943
|
Derivative financial instruments
|
|
|
|
|
US
Dollar
|
0.02
|
855.00
|
15
|
-
|
Total Derivative financial instruments
|
|
|
15
|
-
|
Cash and cash equivalents
|
|
|
|
|
US
Dollar
|
18.09
|
855.00
|
15,464
|
13,659
|
Uruguayan
pesos
|
0.09
|
22.85
|
2
|
-
|
Pounds
|
-
|
1,079.18
|
2
|
-
|
Euros
|
0.01
|
924.17
|
5
|
6
|
New
Israel Shekel
|
-
|
233.29
|
-
|
81
|
Total cash and cash equivalents
|
|
|
15,473
|
13,746
|
Total Assets
|
|
|
141,137
|
114,645
|
|
|
|
|
|
Liabilities
|
|
|
|
|
Trade and other payables
|
|
|
|
|
US
Dollar
|
15.49
|
858.00
|
13,294
|
13,142
|
Uruguayan
pesos
|
0.79
|
22.85
|
18
|
28
|
Payables to related parties:
|
|
|
|
|
US
Dollar
|
10.03
|
858.00
|
8,609
|
38
|
Total Trade and other payables
|
|
|
21,921
|
13,208
|
Borrowings
|
|
|
|
|
US
Dollar
|
332.75
|
858.00
|
285,502
|
271,948
|
Borrowings with related parties
|
|
|
|
|
US
Dollar
|
1.41
|
858.00
|
1,212
|
912
|
Total Borrowings
|
|
|
286,714
|
272,860
|
Derivative financial instruments
|
|
|
|
|
US
Dollar
|
-
|
858.00
|
-
|
19
|
Total derivative financial instruments
|
|
|
-
|
19
|
Lease liabilities
|
|
|
|
|
US
Dollar
|
11.79
|
858.00
|
10,120
|
9,119
|
Total lease liabilities
|
|
|
10,120
|
9,119
|
Provisions
|
|
|
|
|
New
Israel Shekel
|
82.20
|
233.29
|
19,176
|
17,347
|
Total Provisions
|
|
|
19,176
|
17,347
|
Total Liabilities
|
|
|
337,931
|
312,553
|
PRICE
WATERHOUSE & CO. S.R.L.
(Partner)
|
|
ABELOVICH,
POLANO & ASOCIADOS S.R.L.
(Partner)
|
Carlos Brondo
Public Accountant
|
|
Noemí
I. Cohn
Public Accountant
|
(in millions of ARS)
|
IIIQ 24
|
IIIQ 23
|
YoY Var
|
9M 24
|
9M 23
|
YoY Var
|
Revenues
|
59,734
|
63,120
|
(5.4)%
|
213,565
|
208,970
|
2.2%
|
Result
from fair value adjustment of investment properties
|
(594,816)
|
4,025
|
(14,878.0)%
|
(385,848)
|
(135,403)
|
185.0%
|
Result from operations
|
(568,956)
|
25,597
|
(2,322.7)%
|
(275,902)
|
(56,661)
|
386.9%
|
Depreciation
and amortization
|
1,367
|
1,313
|
4.1%
|
4,098
|
4,591
|
(10.7)%
|
EBITDA (1)
|
(567,589)
|
26,910
|
(2,209.2)%
|
(271,804)
|
(52,070)
|
422.0%
|
Adjusted EBITDA (1)
|
27,329
|
55,569
|
(50.8)%
|
128,826
|
121,216
|
6.3%
|
Result for the period
|
(333,995)
|
50,326
|
(763.7)%
|
(111,728)
|
123,217
|
(190.7)%
|
Attributable
to equity holders of the parent
|
(319,500)
|
48,089
|
(764.4)%
|
(104,926)
|
119,339
|
(187.9)%
|
Attributable
to non-controlling interest
|
(14,495)
|
2,237
|
(748.0)%
|
(6,802)
|
3,878
|
(275.4)%
|
|
IIIQ 24
|
IIQ 24
|
IQ 24
|
IVQ 23
|
IIIQ 23
|
Gross
leasable area (sqm)
|
335,866
|
334,845
|
334,737
|
335,826
|
335,893
|
Tenants’
sales (3 months cumulative in current currency)
|
349,560
|
607,960
|
521,019
|
530,241
|
429,050
|
Occupancy
|
97.9%
|
98.0%
|
98.0%
|
97.4%
|
96.8%
|
(in millions of ARS)
|
IIIQ 24
|
IIIQ 23
|
YoY Var
|
9M 24
|
9M 23
|
YoY Var
|
Revenues
from sales, leases, and services
|
27,983
|
34,317
|
(18.5)%
|
113,210
|
108,886
|
4.0%
|
Net
result from fair value adjustment on investment
properties
|
(243,770)
|
(12,953)
|
1,782.0%
|
(13,282)
|
(40,796)
|
(67.4)%
|
Result from operations
|
(224,892)
|
10,295
|
(2,284.5)%
|
72,023
|
40,113
|
79.6%
|
Depreciation
and amortization
|
401
|
404
|
(0.7)%
|
1,170
|
1,381
|
(15.3)%
|
EBITDA (1)
|
(224,491)
|
10,699
|
(2,198.2)%
|
73,193
|
41,494
|
76.4%
|
Adjusted EBITDA (1)
|
19,279
|
23,652
|
(18.5)%
|
86,475
|
82,290
|
5.1%
|
|
Date of acquisition
|
Location
|
Gross Leasable Area (sqm)(1)
|
Stores
|
Occupancy (2)
|
IRSA Interest (3)
|
Alto
Palermo
|
Dec-97
|
City
of Buenos Aires
|
20,732
|
140
|
99.4%
|
100%
|
Abasto Shopping(4)
|
Nov-99
|
City
of Buenos Aires
|
37,167
|
152
|
99.7%
|
100%
|
Alto
Avellaneda
|
Dec-97
|
Province
of Buenos Aires
|
39,696
|
119
|
93.8%
|
100%
|
Alcorta
Shopping
|
Jun-97
|
City
of Buenos Aires
|
15,859
|
107
|
99.9%
|
100%
|
Patio
Bullrich
|
Oct-98
|
City
of Buenos Aires
|
11,396
|
90
|
92.4%
|
100%
|
Dot
Baires Shopping
|
May-09
|
City
of Buenos Aires
|
47,428
|
162
|
99.5%
|
80%
|
Soleil
|
Jul-10
|
Province
of Buenos Aires
|
15,673
|
74
|
100.0%
|
100%
|
Distrito
Arcos
|
Dec-14
|
City
of Buenos Aires
|
14,507
|
63
|
100.0%
|
90.0%
|
Alto
Noa Shopping
|
Mar-95
|
Salta
|
19,427
|
83
|
100.0%
|
100%
|
Alto
Rosario Shopping
|
Nov-04
|
Santa
Fe
|
34,859
|
132
|
93.6%
|
100%
|
Mendoza
Plaza Shopping
|
Dec-94
|
Mendoza
|
41,511
|
119
|
98.6%
|
100%
|
Córdoba
Shopping
|
Dec-06
|
Córdoba
|
15,368
|
98
|
99.0%
|
100%
|
La
Ribera Shopping
|
Aug-11
|
Santa
Fe
|
10,541
|
65
|
97.9%
|
50%
|
Alto
Comahue
|
Mar-15
|
Neuquén
|
11,702
|
86
|
99.2%
|
99.95%
|
Patio Olmos(5)
|
Sep-07
|
Córdoba
|
-
|
-
|
-
|
|
Total
|
|
|
335,866
|
1,490
|
97.9%
|
|
(ARS million)
|
IIIQ 24
|
IIIQ 23
|
YoY Var
|
Alto
Palermo
|
42,679
|
54,512
|
(21.7)%
|
Abasto
Shopping
|
46,784
|
63,598
|
(26.4)%
|
Alto
Avellaneda
|
35,693
|
42,131
|
(15.3)%
|
Alcorta
Shopping
|
24,589
|
31,811
|
(22.7)%
|
Patio
Bullrich
|
14,357
|
17,743
|
(19.1)%
|
Dot
Baires Shopping
|
31,087
|
35,348
|
(12.1)%
|
Soleil
|
23,213
|
22,236
|
4.4%
|
Distrito
Arcos
|
25,896
|
29,384
|
(11.9)%
|
Alto
Noa Shopping
|
15,871
|
18,312
|
(13.3)%
|
Alto
Rosario Shopping
|
35,158
|
47,663
|
(26.2)%
|
Mendoza
Plaza Shopping
|
24,527
|
29,168
|
(15.9)%
|
Córdoba
Shopping
|
11,260
|
15,058
|
(25.2)%
|
La Ribera Shopping(1)
|
5,621
|
7,739
|
(27.4)%
|
Alto
Comahue
|
12,825
|
14,347
|
(10.6)%
|
Total sales
|
349,560
|
429,050
|
(18.5)%
|
(ARS million)
|
9M 24
|
9M 23
|
YoY Var
|
9M 22
|
9M 21
|
9M 20
|
Alto
Palermo
|
196,333
|
192,134
|
2.2%
|
154,150
|
64,883
|
141,742
|
Abasto
Shopping
|
202,461
|
212,210
|
(4.6)%
|
154,910
|
58,962
|
143,600
|
Alto
Avellaneda
|
149,351
|
144,299
|
3.5%
|
110,073
|
48,880
|
127,179
|
Alcorta
Shopping
|
114,204
|
112,807
|
1.2%
|
108,802
|
51,120
|
84,500
|
Patio
Bullrich
|
63,217
|
62,747
|
0.8%
|
56,129
|
32,946
|
56,303
|
Dot
Baires Shopping
|
124,295
|
116,591
|
6.6%
|
99,087
|
45,759
|
112,996
|
Soleil
|
86,850
|
77,108
|
12.6%
|
72,156
|
36,866
|
58,701
|
Distrito
Arcos
|
117,450
|
108,251
|
8.5%
|
90,520
|
50,155
|
66,058
|
Alto
Noa Shopping
|
60,201
|
60,454
|
(0.4)%
|
56,889
|
42,759
|
49,516
|
Alto
Rosario Shopping
|
152,750
|
167,682
|
(8.9)%
|
147,056
|
96,057
|
116,209
|
Mendoza
Plaza Shopping
|
89,387
|
89,146
|
0.3%
|
84,223
|
80,087
|
86,527
|
Córdoba
Shopping
|
49,711
|
51,675
|
(3.8)%
|
47,660
|
31,248
|
35,636
|
La Ribera Shopping(1)
|
23,841
|
26,169
|
(8.9)%
|
22,046
|
11,631
|
24,072
|
Alto
Comahue
|
48,488
|
44,046
|
10.1%
|
34,804
|
15,395
|
34,999
|
Total sales
|
1,478,539
|
1,465,319
|
0.9%
|
1,238,505
|
666,748
|
1,138,038
|
(ARS million)
|
IIIQ 24
|
IIIQ 23
|
YoY Var
|
Department
Store
|
-
|
-
|
-
|
Clothes
and footwear
|
187,608
|
231,691
|
(19.0)%
|
Entertainment
|
9,593
|
13,042
|
(26.4)%
|
Home
and decoration
|
9,247
|
11,941
|
(22.6)%
|
Restaurants
|
47,929
|
56,320
|
(14.9)%
|
Miscellaneous
|
50,461
|
49,878
|
1.2%
|
Services
|
9,643
|
8,287
|
16.3%
|
Home
Appliances
|
35,079
|
57,891
|
(39.4)%
|
Total
|
349,560
|
429,050
|
(18.5)%
|
(in millions of ARS)
|
9M 24
|
9M 23
|
YoY Var
|
9M 22
|
9M 21
|
9M 20
|
Department
Store
|
-
|
-
|
-
|
-
|
35,738
|
60,336
|
Clothes
and footwear
|
853,189
|
848,921
|
0.5%
|
738,850
|
366,641
|
627,286
|
Entertainment
|
38,034
|
40,527
|
(6.2)%
|
27,760
|
4,135
|
35,730
|
Home
and decoration
|
35,885
|
35,132
|
2.1%
|
33,966
|
19,229
|
23,336
|
Restaurants
|
170,728
|
163,400
|
4.5%
|
115,470
|
49,220
|
127,834
|
Miscellaneous
|
194,975
|
175,685
|
11.0%
|
191,206
|
104,873
|
158,266
|
Services
|
33,678
|
25,485
|
32.1%
|
19,954
|
8,151
|
13,276
|
Home
Appliances
|
152,050
|
176,169
|
(13.7)%
|
111,299
|
78,761
|
91,974
|
Total
|
1,478,539
|
1,465,319
|
0.9%
|
1,238,505
|
666,748
|
1,138,038
|
(ARS million)
|
IIIQ 24
|
IIIQ 23
|
YoY Var
|
Base
rent
|
13,541
|
15,685
|
(13.7)%
|
Percentage
rent
|
7,314
|
11,097
|
(34.1)%
|
Total rent
|
20,855
|
26,782
|
(22.1)%
|
Non-traditional
advertising
|
993
|
586
|
69.5%
|
Revenues
from admission rights
|
3,564
|
3,797
|
(6.1)%
|
Fees
|
340
|
330
|
3.0%
|
Parking
|
1,329
|
1,664
|
(20.1)%
|
Commissions
|
692
|
1,039
|
(33.4)%
|
Other
|
210
|
119
|
76.5%
|
Subtotal
|
27,983
|
34,317
|
(18.5)%
|
Expenses
and Collective Promotion Fund
|
35.323
|
11,725
|
201.3%
|
Total
|
63,306
|
46,042
|
37.5%
|
(ARS million)
|
9M 24
|
9M 23
|
YoY Var
|
9M 22
|
9M 21
|
9M 20
|
Base rent(1)
|
46,488
|
43,585
|
6.7%
|
28,058
|
22,543
|
45,183
|
Percentage
rent
|
43,545
|
44,966
|
(3.2)%
|
40,846
|
12,094
|
24,653
|
Total rent
|
90,033
|
88,551
|
1.7%
|
68,904
|
34,637
|
69,836
|
Non-traditional
advertising
|
3,588
|
2,265
|
58.4%
|
1,749
|
822
|
2,455
|
Revenues
from admission rights
|
10,619
|
9,650
|
10.0%
|
6,819
|
6,536
|
12,043
|
Fees
|
1,002
|
970
|
3.3%
|
1,074
|
1,140
|
1,330
|
Parking
|
5,304
|
4,732
|
12.1%
|
2,773
|
244
|
4,891
|
Commissions
|
1,814
|
2,494
|
(27.3)%
|
1,877
|
1,315
|
2,486
|
Other
|
850
|
224
|
279.5%
|
260
|
1,361
|
667
|
Subtotal(2)
|
113,210
|
108,886
|
4.0%
|
83,456
|
46,055
|
93,708
|
Expenses
and Collective Promotion Fund
|
35,920
|
39,384
|
(8.8)%
|
28,927
|
22,589
|
40,501
|
Total
|
149,130
|
148,270
|
0.6%
|
112,383
|
68,644
|
134,209
|
|
IIIQ 24
|
IIQ 24
|
IQ 24
|
IVQ 23
|
IIIQ 23
|
Gross
Leasable area
|
59,348
|
59,348
|
61,742
|
74,392
|
74,392
|
Total
Occupancy
|
86.6%
|
84.8%
|
83.0%
|
68.7%
|
68.4%
|
Class
A+ & A Occupancy
|
92.8%
|
92.8%
|
88.5%
|
86.9%
|
86.9%
|
Class
B Occupancy
|
46.7%
|
33.8%
|
46.4%
|
17.2%
|
16.1%
|
Rent
USD/sqm
|
24.6
|
24.9
|
25.2
|
25.5
|
25.6
|
(in ARS
million)
|
IIIQ 24
|
IIIQ 23
|
YoY Var
|
9M 24
|
9M 23
|
YoY Var
|
Revenues
from sales, leases and services
|
5,441
|
3,559
|
52.9%
|
10,766
|
11,279
|
(4.5)%
|
Net
result from fair value adjustment on investment properties,
PP&E e inventories
|
(113,945)
|
20,259
|
(662.4)%
|
(113,238)
|
(17,202)
|
558.3%
|
Profit from operations
|
(109,155)
|
22,736
|
(580.1)%
|
(104,624)
|
(8,847)
|
1,082.6%
|
Depreciation
and amortization
|
39
|
58
|
(32.8)%
|
162
|
450
|
(64.0)%
|
EBITDA(1)
|
(109,116)
|
22,794
|
(578.7)%
|
(104,462)
|
(8,397)
|
1,144.0%
|
Adjusted EBITDA (1)
|
4,829
|
2,535
|
90.5%
|
8,776
|
8,805
|
(0.3)%
|
Offices & Others
|
Date of Acquisition
|
Gross Leasable Area (sqm)(1)
|
Occupancy (2)
|
Actual Interest
|
9M 24 - Rental revenues (ARS million) (4)
|
AAA & A Offices
|
|
|
|
|
|
Boston Tower(6)
|
Dec-14
|
|
|
|
9
|
Intercontinental Plaza (3)
|
Dec-14
|
2,979
|
100.0%
|
100%
|
459
|
Dot
Building
|
Nov-06
|
11,242
|
79.4%
|
80%
|
1,483
|
Zetta
|
May-19
|
32,173
|
95.7%
|
80%
|
6,532
|
261 Della Paolera –
Catalinas(5)
|
Dec-20
|
4,937
|
100%
|
100%
|
1,987
|
Total AAA & A Offices
|
|
51,331
|
92.8%
|
|
10,470
|
|
|
|
|
|
|
B Offices
|
|
|
|
|
|
Philips
|
Jun-17
|
8,017
|
46,7%
|
100%
|
296
|
Total B Buildings
|
|
8,017
|
46,7%
|
100%
|
296
|
Subtotal Offices
|
|
59,348
|
86,6%
|
|
10,766
|
(in ARS
million)
|
IIIQ 24
|
IIIQ 23
|
YoY Var
|
9M 24
|
9M 23
|
YoY Var
|
Revenues
|
14,994
|
12,403
|
20.9%
|
43,607
|
35,874
|
21.6%
|
Profit from operations
|
6,111
|
3,601
|
69.7%
|
15,721
|
10,519
|
49.5%
|
Depreciation
and amortization
|
661
|
654
|
1.1%
|
1,939
|
1,877
|
3.3%
|
EBITDA
|
6,772
|
4,255
|
59.2%
|
17,660
|
12,396
|
42.5%
|
Hotels
|
Date of Acquisition
|
IRSA’s Interest
|
Number of rooms
|
Occupancy(4)
|
Intercontinental (1)
|
11/01/1997
|
76,34%
|
313
|
73.4%
|
Sheraton Libertador (2)
|
03/01/1998
|
100,00%
|
200
|
54.4%
|
Llao Llao (3)
|
06/01/1997
|
50,00%
|
205
|
75.7%
|
Total
|
-
|
-
|
718
|
68.7%
|
|
IIIQ 24
|
IIQ 24
|
IQ 24
|
IVQ 23
|
IIIQ 23
|
Average
Occupancy
|
68.7%
|
71.6%
|
66.4%
|
64.5%
|
68.6%
|
Average
Rate per Room (USD/night)
|
257
|
240
|
267
|
201
|
231
|
(in ARS million)
|
IIIQ 24
|
IIIQ 23
|
YoY Var
|
9M 24
|
9M 23
|
YoY Var
|
Revenues
|
506
|
411
|
23.1%
|
7,370
|
10,666
|
(30.9)%
|
Net
result from fair value adjustment on investment
properties
|
(238,294)
|
(3,306)
|
7,107.9%
|
(259,353)
|
(80,467)
|
222.3%
|
Result from operations
|
(239,932)
|
(10,168)
|
2,259.7%
|
(265,847)
|
(83,501)
|
218.4%
|
Depreciation
and amortization
|
31
|
2
|
1,450.0%
|
113
|
229
|
(50.7)%
|
Realized
Net result from fair value adjustment on investment
properties
|
102
|
32,684
|
(99.7)%
|
26,378
|
37,883
|
(30.4)%
|
EBITDA (1)
|
(239,901)
|
(10,166)
|
2,259.8%
|
(265,734)
|
(83,272)
|
219.1%
|
Adjusted EBITDA (1)
|
(1,505)
|
25,824
|
(105.8)%
|
19,997
|
35,078
|
(43.0)%
|
(in millions of ARS)
|
IIIQ 24
|
IIIQ 23
|
YoY Var
|
9M 24
|
9M 23
|
YoY Var
|
Revenues
|
488
|
500
|
(2.4)%
|
2,283
|
2,129
|
7.2%
|
Net
result from fair value adjustment on investment
properties
|
(598)
|
(99)
|
504.0%
|
(37)
|
(330)
|
(88.8)%
|
Result from operations
|
(2,553)
|
(811)
|
214.8%
|
7,907
|
(17,586)
|
-
|
Depreciation
and amortization
|
251
|
233
|
7.7%
|
766
|
711
|
7.7%
|
Recovery
of provision
|
|
|
|
11,596
|
-
|
-
|
EBITDA
|
(2,302)
|
(578)
|
298.3%
|
8,673
|
(16,875)
|
-
|
Adjusted EBITDA
|
(1,704)
|
(479)
|
255.7%
|
(2,886)
|
(16,545)
|
(82.6)%
|
9M 24
|
Shopping Malls
|
Offices
|
Sales and Developments
|
Hotels
|
Others
|
Total
|
Result from operations
|
72,023
|
(104,624)
|
(265,847)
|
15,721
|
7,907
|
(274,820)
|
Depreciation
and amortization
|
1,170
|
162
|
113
|
1,939
|
766
|
4,150
|
EBITDA
|
73,193
|
(104,462)
|
(265,734)
|
17,660
|
8,673
|
(270,670)
|
9M 23
|
Shopping Malls
|
Offices
|
Sales and Developments
|
Hotels
|
Others
|
Total
|
Result from operations
|
40,113
|
(8,847)
|
(83,501)
|
10,519
|
(17,586)
|
(59,302)
|
Depreciation
and amortization
|
1,381
|
450
|
229
|
1,877
|
711
|
4,648
|
EBITDA
|
41,494
|
(8,397)
|
(83,272)
|
12,396
|
(16,875)
|
(54,654)
|
EBITDA Var
|
76.4%
|
1,144.0%
|
219.1%
|
42.5%
|
-
|
395.2%
|
|
Total as per segment
|
Joint ventures*
|
Expenses and CPF
|
Elimination of inter-segment transactions
|
Total as per Statements of Income
|
Revenues
|
177,236
|
(935)
|
37,264
|
-
|
213,565
|
Costs
|
(31,163)
|
112
|
(38,090)
|
-
|
(69,141)
|
Gross result
|
146,073
|
(823)
|
(826)
|
-
|
144,424
|
Result
from sales of investment properties
|
(385,910)
|
62
|
-
|
-
|
(385,848)
|
General
and administrative expenses
|
(20,571)
|
112
|
-
|
126
|
(20,333)
|
Selling
expenses
|
(11,961)
|
95
|
-
|
-
|
(11,866)
|
Other
operating results, net
|
(2,451)
|
(15)
|
313
|
(126)
|
(2,279)
|
Result from operations
|
(274,820)
|
(569)
|
(513)
|
-
|
(275,902)
|
Share
of loss of associates and joint ventures
|
28,272
|
302
|
-
|
-
|
28,574
|
Result before financial results and income tax
|
(246,548)
|
(267)
|
(513)
|
-
|
(247,328)
|
Description
|
Currency
|
Amount (USD MM) (1)
|
Interest Rate
|
Maturity
|
Bank
overdrafts
|
ARS
|
6.1
|
Variable
|
<
360 days
|
Series XI
(3)
|
USD
|
10.5
|
5.0%
|
Mar-24
|
Series
XIII
|
USD
|
14.8
|
3.9%
|
Aug-24
|
Series
XIX
|
ARS
|
30.5
|
Variable
|
Feb-25
|
Series
XV
|
USD
|
61.7
|
8.0%
|
Mar-25
|
Series
XVI
|
USD
|
28.3
|
7.0%
|
Jul-25
|
Series
XVII
|
USD
|
25.0
|
5.0%
|
Dec-25
|
Series
XVIII
|
USD
|
21.4
|
7.0%
|
Feb-27
|
Series
XIV
|
USD
|
158.9
|
8.75%
|
Jun-28
|
IRSA’s Total Debt
|
USD
|
357.2
|
|
|
Cash & Cash Equivalents + Investments
(2)
|
USD
|
155.4
|
|
|
IRSA’s Net Debt
|
USD
|
201.8
|
|
|
(in ARS
million)
|
03.31.2024
|
03.31.2023
|
03.31.2022
|
03.31.2021
|
03.31.2020
|
Non-current
assets
|
1,606,100
|
2,008,138
|
2,117,017
|
2,378,153
|
6,094,765
|
Current
assets
|
213,194
|
247,449
|
193,337
|
226,050
|
3,127,280
|
Total assets
|
1,819,294
|
2,255,587
|
2,310,354
|
2,604,203
|
9,222,045
|
Capital
and reserves attributable to the equity holders of the
parent
|
872,520
|
1,154,896
|
934,156
|
834,795
|
503,361
|
Non-controlling
interest
|
59,637
|
71,395
|
66,512
|
276,628
|
953,735
|
Total shareholders’ equity
|
932,157
|
1,226,291
|
1,000,668
|
1,111,423
|
1,457,096
|
Non-current
liabilities
|
630,651
|
856,326
|
1,111,376
|
1,125,522
|
5,578,116
|
Current
liabilities
|
256,486
|
172,970
|
198,310
|
367,258
|
2,186,833
|
Total liabilities
|
887,137
|
1,029,296
|
1,309,686
|
1,492,780
|
7,764,949
|
Total liabilities and shareholders’ equity
|
1,819,294
|
2,255,587
|
2,310,354
|
2,604,203
|
9,222,045
|
(in ARS
million)
|
03.31.2024
|
03.31.2023
|
03.31.2022
|
03.31.2021
|
03.31.2020
|
Profit from operations
|
(275,902)
|
(56,661)
|
(28,768)
|
(66,601)
|
129,595
|
Share
of profit of associates and joint ventures
|
28,574
|
5,352
|
(5,969)
|
(25,103)
|
6,908
|
Result from operations before financing and taxation
|
(247,328)
|
(51,309)
|
(34,737)
|
(91,704)
|
136,503
|
Financial
income
|
17,790
|
1,930
|
2,288
|
1,109
|
2,568
|
Financial
cost
|
(34,012)
|
(38,839)
|
(50,396)
|
(56,912)
|
(77,174)
|
Other
financial results
|
61,435
|
31,520
|
116,741
|
71,760
|
(92,228)
|
Inflation
adjustment
|
26,365
|
42,456
|
9,557
|
2,447
|
4,511
|
Financial results, net
|
71,578
|
37,067
|
78,190
|
18,404
|
(162,323)
|
Results before income tax
|
(175,750)
|
(14,242)
|
43,453
|
(73,300)
|
(25,820)
|
Income
tax
|
64,022
|
137,459
|
47,700
|
(8,692)
|
(35,067)
|
Result for the period from continued operations
|
(111,728)
|
123,217
|
91,153
|
(81,992)
|
(60,887)
|
Result
for the period from discontinued operations after
taxes
|
-
|
-
|
-
|
(98,845)
|
(12,548
|
Result of the period
|
(111,728)
|
123,217
|
91,153
|
(180,837)
|
(73,435)
|
Other
comprehensive results for the period
|
(3,292)
|
(4,170)
|
(5,419)
|
(122,419)
|
112,560
|
Total comprehensive result for the period
|
(115,020)
|
119,047
|
85,734
|
(303,256)
|
39,125
|
|
|
|
|
|
|
Attributable
to:
|
|
|
|
|
|
Equity
holders of the parent
|
(108,314)
|
115,153
|
93,442
|
(190,130)
|
(216,183)
|
Non-controlling
interest
|
(6,706)
|
3,894
|
(7,708)
|
(113,126)
|
255,308
|
(in ARS
million)
|
03.31.2024
|
03.31.2023
|
03.31.2022
|
03.31.2021
|
03.31.2020
|
Net
cash generated from operating activities
|
75,335
|
78,746
|
56,109
|
34,233
|
408,973
|
Net
cash generated from investing activities
|
86,955
|
84,912
|
77,454
|
726,983
|
283,594
|
Net
cash used in financing activities
|
(170,225)
|
(188,994)
|
(106,156)
|
(504,707)
|
(1,153,519)
|
Net (decrease) / increase in cash and cash equivalents
|
(7,935)
|
(25,336)
|
27,407
|
256,509
|
(460,952
|
Cash
and cash equivalents at beginning of year
|
27,371
|
86,305
|
21,387
|
1,503,427
|
1,438,269
|
Cash
and cash equivalents reclassified to held for sale
|
-
|
-
|
-
|
-
|
(10,472)
|
Inflation
adjustment
|
(8,065)
|
(2,133)
|
(1,641)
|
(1,982)
|
(2,572)
|
Deconsolidation
of subsidiaries
|
-
|
-
|
-
|
(1,609,885)
|
-
|
Foreign
exchange (loss) / gain on cash and changes in fair value for cash
equivalents
|
9,610
|
(710)
|
(2,090)
|
(98,290)
|
28,730
|
Cash and cash equivalents at period-end
|
20,981
|
58,126
|
45,063
|
49,779
|
993,003
|
(in ARS
million)
|
03.31.2024
|
|
03.31.2023
|
|
03.31.2022
|
|
03.31.2021
|
|
03.31.2020
|
|
Liquidity
|
|
|
|
|
|
|
|
|
|
|
CURRENT
ASSETS
|
213,194
|
0.83
|
247,449
|
1.43
|
193,337
|
0.97
|
226,050
|
0.62
|
3,127,280
|
1.43
|
CURRENT
LIABILITIES
|
256,486
|
|
172,970
|
|
198,310
|
|
367,258
|
|
2,186,833
|
|
Solvency
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS’
EQUITY
|
932,157
|
1.05
|
1,226,291
|
1.19
|
1,000,668
|
0.76
|
1,111,423
|
0.74
|
1,457,096
|
0.19
|
TOTAL
LIABILITIES
|
887,137
|
|
1,029,296
|
|
1,309,686
|
|
1,492,780
|
|
7,764,949
|
|
Capital Assets
|
|
|
|
|
|
|
|
|
|
|
NON-CURRENT
ASSETS
|
1,606,100
|
0.88
|
2,008,138
|
0.89
|
2,117,017
|
0.92
|
2,378,153
|
0.91
|
6,094,765
|
0.66
|
TOTAL
ASSETS
|
1,819,294
|
|
2,255,587
|
|
2,310,354
|
|
2,604,203
|
|
9,222,045
|
|
For the nine-month period ended March 31 (in ARS
million)
|
||
|
2024
|
2023
|
Profit
for the period
|
(111,728)
|
123,217
|
Interest
income
|
(17,790)
|
(1,930)
|
Interest
expense
|
28,752
|
35,181
|
Income
tax
|
(64,022)
|
(137,459)
|
Depreciation
and amortization
|
4,098
|
4,591
|
EBITDA (unaudited)
|
(160,690)
|
23,600
|
Net
gain / (loss) from fair value adjustment of investment
properties
|
385,848
|
135,403
|
Realized
net gain from fair value adjustment of investment
properties
|
26,378
|
37,883
|
Recovery
of provision
|
(11,596)
|
-
|
Share
of profit of associates and joint ventures
|
(28,574)
|
(5,352)
|
Foreign
exchange differences net
|
15,663
|
(19,366)
|
Result
from derivative financial instruments
|
1,245
|
(167)
|
Fair
value gains of financial assets and liabilities at fair value
through profit or loss
|
(81,180)
|
(11,402)
|
Inflation
adjustment
|
(26,365)
|
(42,456)
|
Other
financial costs/income
|
8,097
|
3,073
|
Adjusted EBITDA (unaudited)
|
128,826
|
121,216
|
Adjusted EBITDA Margin (unaudited) (1)
|
73.07%
|
72,21%
|
For the nine-month period ended March 31 (in ARS
million)
|
||
|
2024
|
2023
|
Gross
profit
|
144,424
|
137,387
|
Selling
expenses
|
(11,866)
|
(11,316)
|
Depreciation
and amortization
|
4,098
|
4,591
|
Realized
result from fair value of investment properties
|
26,378
|
37,883
|
NOI (unaudited)
|
163,034
|
168,545
|
For the nine-month period ended March 31 (in ARS
million)
|
||
|
2024
|
2023
|
Result
for the period
|
(111,728)
|
123,217
|
Result
from fair value adjustments of investment properties
|
385,848
|
135,403
|
Result
from fair value adjustments of investment properties,
realized
|
26,378
|
37,883
|
Recovery
of provision
|
(11,596)
|
-
|
Depreciation
and amortization
|
4,098
|
4,591
|
Foreign
exchange, net
|
15,663
|
(19,366)
|
Other
financial results
|
2,692
|
173
|
Results
from derivative financial instruments
|
1,245
|
(167)
|
Results
of financial assets and liabilities at fair value through profit or
loss
|
(81,180)
|
(11,402)
|
Other
financial costs
|
5,260
|
3,658
|
Income
tax current / deferred
|
(124,637)
|
(144,324)
|
Non-controlling
interest
|
6,802
|
(3,878)
|
Non-controlling
interest related to PAMSA’s fair value
|
(18,918)
|
(6,383)
|
Results
of associates and joint ventures
|
(28,574)
|
(5,352)
|
Inflation
adjustment
|
(26,365)
|
(42,456)
|
Repurchase
of non-convertible notes
|
145
|
(758)
|
Adjusted FFO
|
45,133
|
70,839
|