IRSA Inversiones y Representaciones SA · BCBA:IRSA.CI
IRSA Inversiones y Representaciones SA — FY2025 Earnings Presentation
18 slides from IRSA Inversiones y Representaciones SA's earnings presentation, Sep 4, 2025
Slide 1: FY 2025 Conference Call
FY 2025 Conference Call September 4, 2025 Hosted by: Eduardo S. Elsztain, Chairman & CEO Matias Gaivironsky, CFO Jorge Cruces, CIO Santiago Donato, Head of IR & ESG
Slide 2: Main Events for FY 25 and Subsequent
1 FY 25 NET GAIN OF ARS 196,118 MM Compared to a loss of ARS 32,141 MM on FY 24 STRONG ANNUAL RECOVERY IN SHOPPING MALLS 2 Adjusted EBITDA grew by 10.1% compared to FY 2024 MALLS’ PORTFOLIO GROWTH – Acquisitions & Developments 3 Terrazas de Mayo & Alto Avellaneda Adjoining Plot. Launch of La Plata D
Slide 3: Shopping Malls Operating Figures
Shopping Malls Operating Figures Tenant Real Sales (ARS MM) & Occupancy (%) ∆ trim i.a. IQ 25 -12.1% IIQ 25 -8.5% IIIQ 25 +13.4% IVQ 25 +3.2% 99,0% 98,5% 98,5% 97,4% 97,7%* 96,5% 96,7% 94,7% 93,2% 93,1% -2,8% 3.336.582 3.298.765 3.076.254 3.151.757 3.062.900 3.034.588 3.023.307 89,9% 2.843.425 2.597
Slide 4: Office Buildings Operating Figures
Office Buildings Operating Figures Stock (GLA: Sqm) Leases (USD/sqm/month) & Occupancy A+ & A1 IIQ 25 100% 100% 99.6% 113,291 Office Sales 97.9% 95.5% 83,892 200 Della Paolera 74,392 IVQ 24 IQ 25 IIQ 25 IIIQ 25 IVQ 25 1 Floor 59,348 58,074 25.4 25.3 25.1 25.2 25.2 FY 21 FY 22 FY 23 FY 24 FY 25 IVQ 2
Slide 5: Hotels Operating Figures
Hotels Operating Figures Hotels Portfolio Rate & Occupancy (USD/room & %) BA Hotels: Rate & Occupancy (USD/room & %) 62,8% 62,1% 62,7% 31,7% 66,8% 8,3% 64,2% 133 150 147 60,9% 78 99 FY 21 FY 22 FY 23 FY 24 FY 25 40,1% COVID-19 Llao Llao: Rate & Occupancy (USD/room & %) 12,2% 76,7% 69,3% 61,2% 56,5%
Slide 6: ESG Latest Achievements
ESG Latest Achievements ENVIRONMENTAL PROGRESS GREEN BUILDINGS 3 New Malls With Solar Panels in Continuing the shift to LED lighting addition to Mendoza Plaza now present in +90% of shopping malls. Waste management in the Circular Economy Network of the Government of the Autonomous City of Buenos Ai
Slide 7: Shopping Malls' Portfolio Growth: Acquisitions & New Developments
Shopping Malls’ Portfolio Growth: Acquisitions & New Developments Terrazas de Mayo 20 Projected GLA (Th. Sqm) Shopping Mall USD 27.75 mm Stands +14.8% +10.4% 426 86 22.0 Distrito Diagonal 371 32.7 AA Adjoining Plot Stores 336 33.7 ~33,720 Sqm GLA FY 24 FY 25 FY 28E Adjoining Plot Development Alto Av
Slide 8: Strong Real Estate Activity During FY25
Strong Real Estate Activity During FY25 “Del Plata Building” Trust - Residential Development • FY25: Commercialization progress: more than 60 units already sold. IRSA is the project developer Downtown BA 35,000 13 721 4 Location Saleable sqm Floors Apartments Parking basements “Nuevo Quilmes II” - S
Slide 9: Launch of Ramblas del Plata: IRSA's Most Ambitious Project in BA City
Launch of Ramblas del Plata: IRSA’s Most Ambitious Project in BA City Premium Location South Puerto Madero Commercialization progress 870,000 Buildable sqm 693,000 Saleable sqm Mixed-uses Potential under signing process
Slide 10: Ramblas del Plata: Commercialization Progress
Stage 1 + Extension: Commercialization Progress RAMBLAS DEL PLATA Stage 1 September 2025 Extension 13 2 Lots sold & 11 Swapped Bahia Sales & Barters price 81 (in USD million) Combined saleable area ~111 k (sqm) Signed agreements Under signing process ~53 k Remaining (sqm) saleable area 10 10
Slide 11: Financials: Investment in Banco Hipotecario
Financials: Investment in Banco Hipotecario IRSA’s stake 29.12% Key Indicators Evolution: Profitability Mortgage Loans (UVA) Banco Hipotecario was Argentina’s first bank to Jun-25 Jun-24 restore mortgage loans in the country this year, ROA 1.2% 2.3% followed by other 14 public and private banks ROE
Slide 12: IRSA Financial Results
IRSA Financial Results nee ot acres i me
Slide 13: FY 25 - Consolidated Income Statement
FY 25 - Consolidated Income Statement IVQ 25 IVQ 24 Var % FY 25 FY 24 Var % 1 Revenues 112,294 105,024 6.9% 468,526 458,059 2.3% 2 Costs -45,203 -38,011 18.9% -183,736 -152,304 20.6% 3 Gross Profit 67,091 67,013 0.1% 284,790 305,755 -6.9% 4 Change in Fair Value 147,935 149,034 -0.7% -2,500 -488,794
Slide 14: FY 25 - Operating Results By Segment
FY 25 – Operating Results By Segment Adjusted EBITDA (In ARS million) Rental Adjusted EBITDA Margins Shopping Malls Offices Hotels S&D + Others FY 25 FY 24 Var -18.9% 256,492 17,01 207,902 Shopping -71.6% 77.9% 76.4% +1.5 bps 29,500 8,372 15,584 Malls 18,506 -15.8% Offices 77.7% 81.7% -4.0 bps +10.1
Slide 15: FY 25 - Consolidated Financial Results (In ARS million)
FY 25 – Consolidated Financial Results (In ARS million) Net Financial Results Income Tax Net Result 129,741 196,118 56,531 936 40,759 195,182 FY 24 FY 25 Main Effects FY 24 FY 25 Var FV Of Financial Assets & Liabilities 133,160 59,581 -73,579 -25,621 Net Interest -7,551 -32,288 -24,737 -45,180 -6,52
Slide 16: Rental EBITDA Evolution By Segment (In USD million)
Rental EBITDA Evolution By Segment (In USD million) Shopping Malls Office Buildings Hotels +15.3% 188 171 170 7 165 162 167 163 13 1 1 17 20 2 15 21 19 20 131 14 13 12 115 26 95 18 9 169 154 149 28 143 141 139 130 44 93 0 89 58 25 19 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 C OV I D -
Slide 17: Debt Profile - June 30, 2025 - USD million
Debt Profile – June 30, 2025 – USD million Debt Profile Amortization Schedule Series XXIV International Issuance + Series XIV Partial Exchange • Amount: USD 300 MM Gross Debt 527.4 • Interest Rate: 8,0% • Term: 10 years • Amortization: 33% in 2033, 33% in 2034 & 34% in 2035 Net Debt 194.3 Debt Ratio
Slide 18: Contact Information
Eduardo Elsztain Matias Gaivironsky Santiago Donato NYSE Symbol: IRS | BYMA Symbol: IRSA Chairman & CEO CFO Head of IR & ESG Contact Corporate Offices Della Paolera 261 9th floor, Independent Auditors PricewaterhouseCoopers Argentina Information Tel +(54 11) 4323 7400 Fax +(54 11) 4323 7480 C1001ADA
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