IRSA Inversiones y Representaciones S.A. filed its first-quarter fiscal year 2027 results via press release on November 4, 2026, covering the three-month period ended September 30, 2026.

Key Highlights

  • Net loss of ARS 6,380 million was recorded for Q1 FY2027, compared to a gain of ARS 217,952 million in the same period of FY2026, according to the filing.
  • Adjusted EBITDA from rental segments reached ARS 83,933 million, 2.0% below the level recorded in the same period of FY2026, while total Adjusted EBITDA increased by 9.3%.
  • Shopping Mall tenants' sales declined 6.1% in real terms compared to the same period of the prior fiscal year, the company disclosed.
  • Land swap agreements for three additional plots at Ramblas del Plata totaling USD 19.5 million were signed during and after the quarter, the filing stated.
  • Premium office occupancy reached 96.9% at quarter-end, reflecting a slight decrease from the prior quarter due to the vacancy of one floor at Dot Building.
  • Cash dividend of ARS 211,000 million was approved by the Shareholders' Meeting on October 22, 2026, representing a dividend yield of 10.8%, with a payment date starting November 3, 2026.
  • Market capitalization as of September 30, 2026, was approximately USD 1,178 million, based on 84,611,592 GDS at USD 13.92 per GDS.

IRSA Q1 FY2027 Financial Results: Loss Driven by Investment Property Fair Value Changes

IRSA Inversiones y Representaciones S.A. (NYSE:IRS; BYMA: IRSA) reported a net loss of ARS 6,380 million for the first quarter of fiscal year 2027 ended September 30, 2026, a sharp reversal from the ARS 217,952 million gain recorded in the same period of FY2026. According to the filing, this shift was "mainly explained by losses arising from changes in the fair value of investment properties," which swung to a loss of ARS 74,236 million from a gain of ARS 293,294 million in the prior-year quarter. As a result, the consolidated result from operations fell to ARS 992 million from ARS 365,754 million.

On the revenue side, the company disclosed total revenues of ARS 179,892 million for Q1 FY2027, up from ARS 172,373 million in Q1 FY2026, and consolidated gross profit of ARS 111,187 million versus ARS 105,825 million in the comparable period. The filing noted that Shopping Mall revenues and Adjusted EBITDA grew in line with inflation during the quarter, while the 9.3% increase in total Adjusted EBITDA was driven by improved results in the Sales and Developments segment. Basic earnings per share was reported at ARS (12.62), compared to ARS 272.10 in the prior-year period.

As of September 30, 2026, total assets stood at ARS 5,008,755 million and total liabilities at ARS 2,459,980 million, with shareholders' equity of ARS 2,548,775 million, according to the balance sheet data included in the filing. The company also noted continued construction progress at Oeste Outlet and Distrito Diagonal, both scheduled to open during FY2027, which the filing said would expand the shopping mall portfolio to 19 assets.

What Was Disclosed

IRSA disclosed its Q1 FY2027 financial results, including a net loss of ARS 6,380 million driven by investment property fair value losses, along with balance sheet data, dividend approval, operational metrics for its office and shopping mall segments, and development activity updates.