IRSA Inversiones Y Representaciones Reports Strong Fiscal 2026 Earnings and Expansion
IRSA Inversiones Y Representaciones (NYSE:IRS) reported a significant increase in fiscal 2026 net income, rising to ARS 420.9 billion from ARS 261.9 billion the previous year. The growth was driven by higher property valuations, foreign-exchange gains, and stronger recurring operations. Rental EBITDA approached $200 million, while cash reserves reached $390 million with a net debt-to-EBITDA ratio of 1.4 times. Despite weaker consumer spending in Argentina, the company's shopping mall portfolio remained resilient, maintaining an occupancy rate of 97%. Mall revenue increased by 1.5%, supported by inflation-adjusted lease structures and international retailer expansion. IRSA added 20% to its gross leasable area through acquisitions like Al Oeste Shopping and Los Gallegos Shopping Mall. The company plans continued development, with $150 million in projected fiscal 2027 capital expenditures and potential new acquisitions or share repurchases.
Tickers: $IRS
Topics: capital_expenditures financial_performance real_estate shopping_centers