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Record fiscal 2026 performance: IRSA's net income rose to ARS 420.9 billion from ARS 261.9 billion, supported by higher property valuations, foreign-exchange gains and stronger recurring operations. Rental EBITDA approached $200 million, while the company ended the year with $390 million in cash and net debt-to-EBITDA of 1.4 times.
Shopping-center portfolio expanded despite weaker consumption: Mall tenant sales declined 8.5% in real terms, but occupancy held at 97%, revenue increased 1.5% and dollar EBITDA reached a record level. IRSA added 20% to gross leasable area through acquisitions and projects including Al Oeste, Los Gallegos and Distrito Diagonal.
Development and capital spending remain priorities: Ramblas del Plata infrastructure was 77% complete, with 20 land transactions worth about $130 million finalized. IRSA expects approximately $150 million in fiscal 2027 capital expenditures and is considering further acquisitions, hotel sales, dividends and another share-repurchase program.