Inmobiliaria del Sur (ISUR) Q4 2023 earnings summary

Executive summary

• FY2023 consolidated revenue was €138,210 thousand, up from €116,530 thousand; operating income rose to €22,624 thousand from €19,512 thousand, while net income fell to €11,456 thousand from €15,106 thousand.

• Attributable net income was €11,305 thousand, compared with €15,006 thousand in FY2022.

Financial highlights

• Consolidated basic and diluted EPS were €0.61 for FY2023, versus €0.81 in FY2022.

• Reported profit on disposals of fixed assets was €8,901 thousand, compared with €2,047 thousand in FY2022; other results were €296 thousand versus €11,117 thousand.

• Year-end total assets were €483,385 thousand, down from €497,074 thousand; consolidated equity rose to €145,728 thousand from €140,455 thousand.

Segment performance

• Property development revenue was €80,303 thousand, versus €60,336 thousand; segment result was €5,293 thousand, down from €7,580 thousand.

• Property rental revenue was €17,081 thousand, versus €17,438 thousand; segment result rose to €9,787 thousand from €8,884 thousand.

• Corporate revenue was €5,241 thousand, versus €4,034 thousand; segment loss widened to €3,349 thousand from €1,914 thousand.