IRSA Inversiones y Representaciones S.A announces its results for the second quarter of Fiscal Year 2026 ended December 31, 2025
IRSA Inversiones y Representaciones (NYSE: IRS) reported results for the six months ended Dec 31, 2025.
Rhea-AI Summary
IRSA Inversiones y Representaciones (NYSE: IRS) reported results for the six months ended Dec 31, 2025. The company recorded a net result of ARS 248,817 million (vs a loss of ARS 53,896 million year-ago), driven mainly by gains from changes in the fair value of investment properties.
Other highlights: Adjusted EBITDA (rental) ARS 147,190 million (+4.9%); revenues ARS 292,081 million; issued USD 180 million Series XXIV notes maturing 2035; distributed a cash dividend of ARS 173,788 million (10% yield).
Positive
- Net result of ARS 248,817M for 6M FY2026 (vs loss ARS 53,896M)
- Fair value gains of ARS 185,712M recognized in the period
- Issued USD 180M Series XXIV notes due 2035 to refinance and invest
- Distributed cash dividend of ARS 173,788M (10% yield)
- Adjusted EBITDA from rental segments ARS 147,190M (+4.9%)
Negative
- Non-current liabilities rose to ARS 1,885,165M from ARS 1,544,418M
- Total liabilities increased to ARS 2,215,778M, signaling higher leverage
- Reported net result driven largely by fair value gains, which can be volatile
Details
News Market Reaction – IRS
In the Feb 4 session, IRS declined 2.21%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
- Net result H1 FY2026
- ARS 248,817 million
- First half of fiscal year 2026
- Adjusted EBITDA rentals
- ARS 147,190 million
- Rental segments, H1 FY2026, +4.9% YoY
- Revenues
- ARS 292,081 million
- 6M FY2026 vs ARS 279,069 million 6M FY2025
- Net fair value change
- ARS 185,712 million
- Changes in fair value of investment properties, 6M FY2026
- EPS (Basic)
- ARS 310.26
- 6M FY2026 vs ARS -71.28 in prior period
- Total Assets
- ARS 4,179,160 million
- Balance sheet as of 12/31/2025
- Cash dividend
- ARS 173,788 million
- Distributed November 4, 2025 (10% dividend yield)
- Market capitalization
- USD 1,281 million
- As of December 31, 2025
Previous Earnings Reports
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Turnaround to large net gain driven by fair value gains and rental EBITDA growth.
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Profit recovery, strong tenant sales, high occupancy and Ramblas del Plata lot deals.
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Shift to net loss mainly from adverse fair value changes in investment properties.
-
Large net loss tied to fair value changes despite acquisitions and high occupancy.
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Higher rental EBITDA but net loss, with active portfolio moves and shareholder returns.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
adjusted EBITDA financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
HIGHLIGHTS
- The net result for the first half of fiscal year 2026 recorded a gain of ARS 248,817 million, compared to a loss of
ARS 53,896 million in the same period of 2025. This was mainly driven by gains from changes in the fair value of investment properties. - Adjusted EBITDA from rental segments reached ARS 147,190 million in the first half of 2026, increasing
4.9% compared to the same period of 2025. - Shopping malls revenues and adjusted EBITDA grew
4.2% and2.0% , respectively, during the first half of fiscal year 2026 compared to the same period of 2025. - Occupancy of the premium office portfolio remained at
100% during the second quarter of the fiscal year, while the Hotels segment recorded an improvement in revenues and EBITDA. - During the quarter, we advanced infrastructure works at Ramblas del Plata, where two additional lots were swapped for a total of
USD 11.8 million . We also acquired a property located in the Flores neighborhood of theCity of Buenos Aires forUSD 6.8 million and continued progress on the development of the Distrito Diagonal project in La Plata. - On December 17, 2025, we issued Series XXIV Additional Notes in the international markets for an aggregate principal amount of
USD 180 million , maturing in 2035. The proceeds will be used to repay existing indebtedness and finance investment projects. - On November 4, 2025, the Company distributed a cash dividend for ARS 173,788 million (
10% dividend yield).
Financial Highlights | ||
(In millions of Argentine Pesos) | ||
6M FY 2026 | ||
Income Statement | 12/31/2025 | 12/31/2024 |
Revenues | 292,081 | 279,069 |
Consolidated Gross Profit | 181,665 | 172,242 |
Net result from changes in the fair value of investment properties | 185,712 | (306,605) |
Consolidated Result from Operations | 321,255 | (197,039) |
Result for the Period | 248,817 | (53,896) |
Attributable to: | ||
IRSA's Shareholders | 235,486 | (53,320) |
Non-Controlling interest | 13,331 | (1,576) |
EPS (Basic) | 310.26 | (71.28) |
EPS (Diluted) | 283.72 | (71.28) |
Balance Sheet | 12/31/2025 | 06/30/2025 |
Current Assets | 715,977 | 643,288 |
Non-Current Assets | 3,463,183 | 3,199,351 |
Total Assets | 4,179,160 | 3,842,639 |
Current Liabilities | 330,613 | 387,265 |
Non-Current Liabilities | 1,885,165 | 1,544,418 |
Total Liabilities | 2,215,778 | 1,931,683 |
Non-Controlling Interest | 108,670 | 107,622 |
Shareholders' Equity | 1,963,382 | 1,910,956 |
The Company's market capitalization as of December 31, 2025, was approximately
IRSA Inversiones y Representaciones S.A. (NYSE: IRS, BYMA: IRSA), the
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SOURCE IRSA Inversiones y Representaciones S.A.
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