IRSA Inversiones y Representaciones Sociedad Anónima : Santander's 26th Annual Latin American Conference January 2022
January 20, 2022 at 03:21 pm EST
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S A N T A N D E R ´ S 2 6 T H A N N U A L L A T A M C O N F E R E N C E
I N S T I T U T I O N A L P R E S E N T A T I O N J A N U A R Y 2 0 2 2
ABOUT US
LEADING REAL ESTATE COMPANY
IN ARGENTINA
30 years acquiring, developing and operating real estate. Rental Portfolio of more than 500,000 sqm of GLA.
UNIQUE PORTFOLIO OF ASSETS
15 shopping malls - 336,000 GLA sqm
7 office buildings - 113,000 GLA sqm
Owner of 3 premium hotels in Argentina - 79,000 sqm
30%
SHOPPING
DEVELOPMENT PROPERTIES
~20 mm sqm premium landbank for future developments.
Investment in Banco Hipotecario (30% stake) - potential
synergies with the development of mortgage market in the
MALLS
OFFICES HOTELS LANDBANK
country.
EXPERIENCED MANAGEMENT TEAM
With proven track record in the industry
CAPITAL MARKETS TRACK RECORD
+25 years listed on the NYSE and +70 years on BYMA,
accessing to international and local capital markets
Rental segment
Development
segment
2
RENTAL SEGMENT - 25 PROPERTIES
SHOPPING MALLS
OFFICES
HOTELS
15
67%
7
10%
3
718
# Malls
BA City Market Share
# Office buildings
BA City Market Share
Premium hotels in Argentina
rooms
79,000
336,000
113,000
GLA sqm
GLA sqm
sqm
Dot Building
Philips
Zetta
Della Paolera 261
Suipacha
República
Intercontinental
Expanding Corporate North Area
Business Center
AAA Location
Back Office Center
3
COVID IMPACT & COMPANY MANAGEMENT
SHOPPING MALLS
OFFICES
HOTELS
Closed operations for 7 months (mar-oct 2020 & apr-jun 2021)
Commercial policy to support tenants: waive of base rent and advertising fund only charging common expenses
Focus on cost reduction, operational efficiency and preservation of occupancy
ADJ. EBITDA (USD MM) & OCCUPANCY
Normal revenues collection even though home office work modality
Impact in vacancy and rental price, mostly in B class
High liquidity in premium buildings
Companies are returning to offices through a hybrid work modality
ADJ. EBITDA (USD MM) & OCCUPANCY
Closed operations for 9 months (mar-dec 2020). Focus on cost reduction and efficiency
Good recovery in Llao Llao Resort due to local tourism while BA hotels are operating with low occupancy since flights and international tourism are still restricted.
EBITDA (USD MM) & OCCUPANCY
98,5% 98,5%
143 141
Pandemic effect
94,7% 93,2% 89,9%
93
58
19
96,7%
92,3%
Pandemic effect
88,3%
86,1%
80,1% A &A+
74,7%
21
19
26
28
25
67,8%
70,5%
66,9%
Pandemic effect
45,8%
12,2%
1
2
12
9
0
FY 17
FY 18
FY 19
FY 20
FY 21
FY 17
FY 18
FY 19
FY 20
FY 21
FY 17
FY 18
FY 19
FY 20
FY 21
4 4
RENTAL FIGURES EVOLUTION
TENANTS SALES RECOVERY IN SHOPPING MALLS SINCE REOPENINGS
OFFICES PERFORMANCE
SAME SHOPPING MALLS SALES
(% Var i.a.)
Pre COVID-19
Information compared with
pre-pandemic figures given
IN REAL
the closure of operations
TERMS
during 2020
-10,7%
-55,9%
IVQ 21 vs. IVQ 19
IQ 22 vs. IQ 20
570,0%
COVID-19
322,0%
OCCUPANCY BY
CLASS
A+ &
93,0%
91,6%
81,2%
79,5%
80,1%
78,90%
A
B
56,7%
53,6%
52,4%
52,4%
48,5%
41,1%
IVQ 20
IQ 21
IIQ 21
IIIQ 21
IVQ 21
IQ 22
LEASES
(USD/sqm/month)
5,6%
0,4%
-5,1%
-13,5%
-11,9%
-35,2%
-78,8%
-93,4%
IVQ 19 IQ 20 IIQ 20 IIIQ 20IVQ 20 IQ 21 IIQ 21 IIIQ 21IVQ 21 IQ 22
26,6
26,0
25,7
25,4
25,7
25,1
IVQ 20
IQ 21
IIQ 21
IIIQ21
IVQ21
IQ225
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IRSA - Inversiones y Representaciones SA published this content on 20 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2022 20:20:41 UTC.
IRSA Inversiones y Representaciones Sociedad Anonima is a holding company. The Company invests on its own behalf and through investee companies in companies operating in various sectors of the Israeli and global economy. The Company's segments are Cellcom, which includes cellular telephone services, content and added value services, other services and revenues from the sale of end user equipment in the cellular field; Property and Buildings and projects in Las Vegas, which includes the rental of income-generating properties and residential buildings; Shufersal, which includes retail and the rental of income-generating properties; Adama, which includes the sale of agro products and non-agro products; Clal Insurance Enterprise Holdings, which operates through subsidiary companies in the fields of insurance, pensions and provident funds, in the field of financial services and in the holding of assets and real businesses, and Others.