IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) Q2 2023 Earnings Call Transcript

And Costa Urbana is we — as somebody know, we have a legal situation going at the moment. There’s been a rule in favor of the city of Buenos Aires, and that’s our same position that was on February 8. And we’re waiting for the ruling from the court. So that’s good news, and we continue working as a result.

Santiago Donato: Thank you, Jorge. I will give one minute more for any additional question that you may have. Okay. If there are no more questions, we conclude the presentation and the Q&A session. I will return back to Mr. Matias Gaivironsky, CFO, for his closing remarks.

Matias Gaivironsky: Thank you, Santiago. I see here one more question before the closing remarks regarding the short-term debt that is related to amortizations for $99 million. This is more short-term debt. You can see that the cash position of the Company today is more than $160 million, and we have $99 million in short-term debt. This is more a liquidity management for the cancellations. When we show this $99 million is a pro forma numbers on February. So what we believe is more a liquidity management. So using our draft to cancel instead of our own liquidity, but in the near future, that will be different. So we will cancel that $99 million or most part of that. So, to finish the presentation, first, thank you for the participation, we are very happy with the results.

The Company is generating good results in all the business lines. We clear during the last year all the liquidity risk and the short-term debt was canceled. So, now we are very well prepared for a new cycle of more growing and we have plenty of projects to launch in the near future. And the cash generation in each of the business lines is very good. So we are ready to keep growing. So we hope to see announcements in the short term. Thank you very much, and have a good day.