IRSA Inversiones y Representaciones S.A. filed its Form 20-F annual report for the fiscal year ended June 30, 2025. The company’s Global Depositary Shares trade on the NYSE under IRS, with each GDS representing 10 common shares. Shares outstanding were 762,520,793 as of the period end. The audited consolidated financial statements for 2025, 2024 and 2023 were approved on October 23, 2025 and audited by Price Waterhouse & Co S.R.L., Argentina.
IRSA reports in Argentine Pesos under IFRS and applies IAS 29 due to Argentina’s hyperinflationary economy. For convenience translations, the report uses ARS 1,205.00 per USD 1.00 as of June 30, 2025, an average of ARS 1,034.58 for fiscal 2025, and ARS 1,484.50 as of October 22, 2025. The filing highlights macroeconomic, FX, inflation, financing and regulatory risks affecting Argentine real estate. Prior shareholder meetings approved dividends of ARS 4,340 million (October 28, 2022) and ARS 21,900 million (April 27, 2023).
IRSA Inversiones y Representaciones S.A. reports that between September 17 and 25, 2025, holders exercised warrants to purchase 10,536,907 ordinary shares with a face value of ARS 10 each, generating USD 3,073,616 in proceeds for the company. The total number of issued shares rose from 762,520,793 to 773,057,700, while outstanding warrants declined from 60,964,074 to 53,853,144. The filing notes rounding adjustments for exercise calculations. This disclosure documents share issuance and the related cash inflow resulting from the exercised warrants.
IRSA Inversiones y Representaciones S.A. called a virtual General Ordinary and Extraordinary Shareholders' Meeting for October 30, 2025, to consider fiscal-year matters for the year ended June 30, 2025. The company reported a net profit of ARS 195,677,675,452.86 and proposed distribution of dividends in cash and/or in kind for up to ARS 164,000,000,000. The agenda includes approval of financial statements, review of board and supervisory committee performance, appointment of directors and auditors, and authorization to amend a 2021 warrant agreement to permit share-for-difference exercise of options. The company also disclosed total board compensation of ARS 18,192,594,071.06, exceeding the 5% accrued-profits limit by ARS 7,988,274,783.50.
IRSA announced that on September 30, 2025 it will pay the first interest installment on its Fixed Rate Series XXIV Notes issued March 31, 2025. The notes have a principal amount and outstanding capital of USD 300,454,198 and carry an annual nominal interest rate of 8.00%. The payment covers the period March 31, 2025 through September 30, 2025 and consists entirely of interest of USD 12,018,167.92. The Bank of New York Mellon is the Payment Agent and payments will be made to holders of record as of September 29, 2025.
IRSA Inversiones y Representaciones S.A. acquired the "Al Oeste" shopping mall in Haedo, Greater Buenos Aires, for USD 9.0 million. The company paid USD 4.5 million at closing and will pay the remaining balance in four annual installments. Al Oeste currently has ~20,000 sqm GLA with 40 stores, 6 food court units, 5 padel courts, 14 cinema theaters, 1,075 parking spaces and expansion potential of 12,000 sqm. IRSA plans to convert the asset into an outlet center and relaunch it next year. The acquisition increases IRSA's mall portfolio to 17 assets (16 operated by IRSA) totaling ~390,000 sqm GLA.
IRSA reported a strong turnaround for fiscal year 2025, posting net income of ARS 196,118 million compared with a loss of ARS 32,141 million the prior year, driven by improvements across its portfolio. Revenues rose 2.3% year-over-year and Rental Adjusted EBITDA reached ARS 234,697 million, led by Shopping Malls (ARS 210,741 million), Offices (ARS 15,584 million) and Hotels (ARS 8,372 million). Shopping mall segment revenue and Adjusted EBITDA grew 8% and 10% respectively, with portfolio occupancy near 98% and a modest 2.8% decline in tenant sales for the full year after a second-half recovery.
Balance-sheet and capital structure details include a market capitalization of approximately USD 1,062 million as of June 30, 2025 (76,252,079 GDS at USD 13.93), outstanding shares of 762,358,019, and Cresud as majority shareholder with 412,158,780 shares (54.06%). There are 60,964,074 warrants outstanding; full conversion would raise issued shares to 852,857,373. During the year IRSA issued USD 300 million Series XXIV Notes with a 10-year term and completed acquisitions and development initiatives including Terrazas de Mayo and Stage I of Ramblas del Plata transactions totaling ~111,000 saleable sqm for an estimated USD 81 million.
IRSA Inversiones y Representaciones S.A. reports that it will pay the third semiannual interest installment on its Fixed Rate Series XVIII Notes, principal amount USD 21,408,926. The payment agent is Caja de Valores S.A. and the effective payment date is August 28, 2025 for the period February 28, 2025 through August 28, 2025. The notes carry an annual nominal interest rate of 7.00%, and the interest amount to be paid for this installment is USD 743,153.68. Interest will be paid to holders registered as of August 27, 2025.