IRSA Inversiones y Representaciones S.A announces today its results for the Fiscal Year 2025 ended June 30, 2025
IRSA Inversiones y Representaciones (NYSE:IRS), Argentina's leading real estate company, reported strong financial results for FY 2025. The company achieved a net income of ARS 196,118 million, compared to a loss of ARS 32,141 million in FY 2024. Revenues increased by 2.3% year-over-year.
The company's Shopping Malls segment showed robust performance with 8% revenue growth and 98% occupancy. Notable developments include the acquisition of Terrazas de Mayo shopping center and the initiation of a new open-air mall construction in La Plata. The office portfolio maintained strong occupancy in Class A+ and A buildings, while the company completed a sale at 261 Della Paolera building.
IRSA also made significant progress in its Ramblas del Plata project, securing 13 transactions worth USD 81 million for 111,000 saleable sqm. The company successfully returned to international capital markets with a USD 300 million 10-year note issuance.
IRSA Inversiones y Representaciones (NYSE:IRS), la principale società immobiliare dell'Argentina, ha riportato solidi risultati finanziari per l'esercizio 2025. La società ha raggiunto un utile netto di ARS 196.118 milioni, rispetto a una perdita di ARS 32.141 milioni nell'esercizio 2024. I ricavi sono aumentati del 2,3% su base annua.
Il segmento Centri Commerciali ha registrato una performance robusta con una crescita dei ricavi dell'8% e una occupazione del 98%. Tra gli sviluppi principali figurano l'acquisizione del centro commerciale Terrazas de Mayo e l'avvio della costruzione di un nuovo mall a cielo aperto a La Plata. Il portafoglio uffici ha mantenuto elevati tassi di occupazione negli edifici Class A+ e A, mentre è stata completata la vendita dell'immobile di 261 Della Paolera.
IRSA ha inoltre compiuto progressi importanti nel progetto Ramblas del Plata, assicurando 13 transazioni per un valore di USD 81 milioni su 111.000 mq vendibili. La società è tornata con successo ai mercati di capitale internazionali emettendo un'obbligazione decennale da USD 300 milioni.
IRSA Inversiones y Representaciones (NYSE:IRS), la principal empresa inmobiliaria de Argentina, presentó sólidos resultados financieros para el ejercicio 2025. La compañía registró un resultado neto de ARS 196.118 millones, frente a una pérdida de ARS 32.141 millones en 2024. Los ingresos crecieron un 2,3% interanual.
El segmento de Centros Comerciales mostró un desempeño robusto con un 8% de crecimiento de ingresos y una ocupación del 98%. Entre los hitos se encuentran la adquisición del centro comercial Terrazas de Mayo y el inicio de la construcción de un nuevo centro comercial al aire libre en La Plata. La cartera de oficinas mantuvo fuerte ocupación en edificios Clase A+ y A, y se completó la venta del edificio 261 Della Paolera.
IRSA también avanzó significativamente en su proyecto Ramblas del Plata, cerrando 13 transacciones por USD 81 millones para 111.000 m² comercializables. La compañía retornó con éxito a los mercados de capitales internacionales con la emisión de una nota a 10 años por USD 300 millones.
IRSA Inversiones y Representaciones (NYSE:IRS), 아르헨티나의 선도적인 부동산 회사가 2025 회계연도에 견조한 실적을 발표했습니다. 회사는 ARS 196,118백만의 당기순이익을 달성했으며, 이는 2024 회계연도의 ARS 32,141백만 손실에서 크게 개선된 수치입니다. 매출은 전년 대비 2.3% 증가했습니다.
쇼핑몰 부문은 매출 8% 성장과 점유율 98%로 견실한 실적을 보였습니다. 주요 소식으로는 테라자스 데 마요(Terrazas de Mayo) 쇼핑센터 인수와 라플라타(La Plata)에서의 신규 야외형 몰 건설 착공이 있습니다. 오피스 포트폴리오는 Class A+ 및 A 건물에서 높은 점유율을 유지했으며, 261 Della Paolera 건물의 매각도 완료했습니다.
IRSA는 또한 Ramblas del Plata 프로젝트에서 중요한 진전을 이루어 111,000㎡ 매매 가능 면적에 대해 USD 8,100만 규모의 13건 거래를 성사시켰습니다. 회사는 미화 3억 달러 규모의 10년 만기 채권을 발행하며 국제 자본시장에 성공적으로 복귀했습니다.
IRSA Inversiones y Representaciones (NYSE:IRS), la principale société immobilière d'Argentine, a annoncé de solides résultats financiers pour l'exercice 2025. La société a réalisé un résultat net de ARS 196 118 millions, contre une perte de ARS 32 141 millions en 2024. Les revenus ont augmenté de 2,3% en glissement annuel.
Le segment Centres Commerciaux a affiché de bonnes performances avec une hausse des revenus de 8% et un taux d'occupation de 98%. Parmi les faits marquants : l'acquisition du centre commercial Terrazas de Mayo et le lancement de la construction d'un nouveau centre commercial en plein air à La Plata. Le portefeuille de bureaux a conservé de solides taux d'occupation dans les immeubles Class A+ et A, et la vente de l'immeuble 261 Della Paolera a été finalisée.
IRSA a également progressé significativement sur le projet Ramblas del Plata, sécurisant 13 transactions pour USD 81 millions portant sur 111 000 m² commercialisables. La société est revenue avec succès sur les marchés de capitaux internationaux en émettant une obligation à 10 ans de USD 300 millions.
IRSA Inversiones y Representaciones (NYSE:IRS), Argentiniens führendes Immobilienunternehmen, veröffentlichte starke Ergebnisse für das Geschäftsjahr 2025. Das Unternehmen erzielte einen Nettoertrag von ARS 196.118 Millionen gegenüber einem Verlust von ARS 32.141 Millionen im Geschäftsjahr 2024. Die Umsatzerlöse stiegen um 2,3% gegenüber dem Vorjahr.
Das Segment Einkaufszentren zeigte eine robuste Entwicklung mit einem Umsatzwachstum von 8% und einer Auslastung von 98%. Wichtige Entwicklungen waren der Erwerb des Einkaufszentrums Terrazas de Mayo und der Beginn des Baus eines neuen Open-Air-Malls in La Plata. Das Büroportfolio hielt in Class A+ und A Gebäuden eine starke Auslastung, und der Verkauf des Gebäudes 261 Della Paolera wurde abgeschlossen.
IRSA erzielte außerdem bedeutende Fortschritte beim Projekt Ramblas del Plata und sicherte sich 13 Transaktionen im Wert von USD 81 Millionen für 111.000 verkäufliche qm. Das Unternehmen kehrte erfolgreich an die internationalen Kapitalmärkte zurück und emittierte eine 10-jährige Anleihe über USD 300 Millionen.
- Net income turned positive to ARS 196,118 million from previous year's loss
- Shopping Malls segment revenue and EBITDA grew 8% and 10% respectively
- Shopping Malls maintained high occupancy rate of 98%
- Class A+ and A office buildings reached almost full occupancy
- Successful return to international markets with USD 300 million note issuance
- Strategic acquisitions including Terrazas de Mayo shopping center
- Secured 13 transactions worth USD 81 million for Ramblas del Plata project
- Tenant sales declined by 2.8% during the fiscal year
- Office portfolio reduced to 58,000 sqm of GLA after building sale
- Consolidated Gross Profit decreased from ARS 305,755M to ARS 284,790M
- Rental Adjusted EBITDA decreased 2% compared to fiscal year 2024
Insights
IRSA swings to ARS 196B profit from previous year's loss, with strong shopping mall performance and renewed international capital market access.
IRSA has delivered a remarkable financial turnaround in FY2025, posting a
The shopping mall segment emerged as the company's strongest performer with an
IRSA's strategic acquisitions of Terrazas de Mayo shopping center and property adjacent to Alto Avellaneda position the company for future growth. The new La Plata open-air mall development targets an underserved major population center, representing a first-mover advantage in an untapped market.
The office segment has capitalized on the return-to-office trend, achieving near-full occupancy in premium Class A+ and A buildings. The strategic sale at 261 Della Paolera building reflects portfolio optimization rather than distress.
Perhaps most significant is IRSA's successful return to international capital markets after nearly a decade with a
The Ramblas del Plata project represents a substantial future growth driver, with 13 transactions securing approximately 111,000 saleable square meters valued at roughly
HIGHLIGHTS
- Net income for fiscal year 2025 amounted to ARS 196,118 million, compared to a loss of
ARS 32,141 million in the previous year. - Revenues increased by
2.3% during fiscal year 2025 compared to 2024, and Rental Adjusted EBITDA reached ARS 234,697 million:ARS 210,741 million from Shopping Malls,ARS 15,584 million from Offices, andARS 8,372 million from Hotels, decreasing2% compared to fiscal year 2024. - Revenues and Adjusted EBITDA of Shopping Malls' Segment grew
8% and10% , respectively in FY 2025 compared to the previous year, while portfolio occupancy remained close to98% . Tenant sales, after a first half marked by weak consumption, strongly recovered in the second half of the year, closing the fiscal year with a slight decline of2.8% . - During the year, we acquired Terrazas de Mayo shopping center and an adjoining property to Alto Avellaneda with future expansion potential. In addition, we started construction of a new open-air shopping mall in La Plata, one of the most populous cities in the country, which until now had no large-scale mall.
- In Offices, the sector showed a greater return to on-site work, boosting demand for premium spaces. Our Class A+ and A buildings reached almost full occupancy. We completed a new sale at the 261 Della Paolera building, reducing the portfolio to 58,000 sqm of GLA.
- During the year, we started infrastructure works and progressed in the commercialization of Stage I of our flagship project: Ramblas del Plata. We signed 13 transactions (2 cash sales and 11 swap agreements), totaling approximately 111,000 saleable sqm for an estimated value of
USD 81 million . - In financial matters, we returned to the international capital markets after nearly a decade with the issuance of Series XXIV Notes for
USD 300 million , 10 years term.
Financial Highlights | ||
(In millions of Argentine Pesos) | ||
FY 2025 | ||
Income Statement | 06/30/2025 | 06/30/2024 |
Revenues | 468,526 | 458,059 |
Consolidated Gross Profit | 284,790 | 305,755 |
Net result from changes in the fair value of investment properties | (2,500) | (488,794) |
Consolidated Result from Operations | 172,615 | (265,867) |
Result for the Period | 196,118 | (32,141) |
Attributable to: | ||
IRSA's Shareholders | 195,182 | (25,621) |
Non-Controlling interest | 936 | (6,520) |
EPS (Basic) | 261.29 | (34.53) |
EPS (Diluted) | 238.90 | (34.53) |
Balance Sheet | 06/30/2025 | 06/30/2024 |
Current Assets | 562,836 | 317,494 |
Non-Current Assets | 2,799,233 | 2,807,977 |
Total Assets | 3,362,069 | 3,125,471 |
Current Liabilities | 338,831 | 383,285 |
Non-Current Liabilities | 1,351,271 | 1,135,457 |
Total Liabilities | 1,690,102 | 1,518,742 |
Non-Controlling Interest | 94,163 | 102,883 |
Shareholders' Equity | 1,671,967 | 1,606,729 |
IRSA Inversiones y Representaciones S.A. (NYSE: IRS, BYMA: IRSA), the
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