#Argentina #Real Estate #IRSA

Financial Results of IRSA Inversiones y Representaciones S.A. for Q1 FY2026

On November 6, 2025, IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA: IRSA), the foremost real estate firm in Argentina, unveiled its financial performance for the first quarter of Fiscal Year 2026, which concluded on September 30, 2025. The results indicate a robust recovery, with notable improvements compared to the same period in the previous year.

Key Highlights

The company reported a net income of ARS 163,438 million for the first quarter of FY2026. This marks a significant turnaround from a loss of ARS 143,662 million recorded in Q1 FY2025. The positive change can primarily be attributed to gains from fluctuations in the fair value of investment properties, demonstrating IRSA's strength and resilience in a fluctuating market.

Adjusted EBITDA from rental segments also saw a healthy increase, reaching ARS 64,256 million, reflecting a 3.5% rise year-over-year. This growth showcases the effectiveness of IRSA’s strategies in optimizing its portfolio and enhancing operational efficiency.

Despite a general decline in real tenant sales within shopping malls, which fell by 7.0%, IRSA's shopping mall revenues grew by 6.6% and adjusted EBITDA rose by 4.1% compared to the same quarter in 2025. This indicates a robust performance in rental income, attributed to a recovery in foot traffic and spending at their properties.

Strategic Acquisitions and Developments

During the reported quarter, IRSA acquired the **