Santiago Donato
Investor Relations Officer
Good afternoon, everyone. I’m Santiago Donato, Investor Relations Officer of IRSA, and I welcome you to the Fiscal Year ’25 Results Conference Call.
First of all, I would like to remind you that both audio and a slide show may be accessed through company’s Investor Relations website at www.irsa.com.ar by clicking on the banner webcast link.
The following presentation and the earnings release are also available for download on the company website. After management remarks, there will be a question-and-answer session for analysts and investors. If you want to make a question, please use the chat.
Before we begin, I would like to remind you that this call is being recorded, and the information discussed today may include forward-looking statements regarding the company’s financial and operating performance. All projections are subject to risks and uncertainties, and actual results may differ materially. Please refer to the detailed note in the company’s earnings release regarding forward-looking statements.
I will now turn the call over to Mr. Eduardo Elsztain, CEO.
Eduardo Elsztain
Chairman & CEO
Thank you so much. Good afternoon, everybody — everyone, and thank you for joining us today. We are closing fiscal year 2025 with strong progress and important milestones for IRSA.
First, we delivered a net gain of ARS 196 billion compared to a significant loss in the previous year. Second, our Shopping Malls show a solid recovery with adjusted EBITDA growing by 10% year-over-year. Third point, we express our Malls portfolio through acquisition and developments, including Terrazas de Mayo, that’s one we acquired from Carrefour, the adjoining piece land
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