HIGHLIGHTS
- The net result for the first semester of fiscal year 2024 recorded a gain of
ARS 122,205 million compared toARS 59,907 million in the same period of 2023, mainly due to the gain from changes in the fair value of IRSA's investment properties. The gain attributable to the controlling shareholder wasARS 48,800 million , compared toARS 32,929 million in the same period of 2023. - The adjusted EBITDA for the period reached
ARS 79,677 million , 45.1% higher than the same period in 2023. The adjusted EBITDA of the agricultural segments wasARS 23,857 million , 39.3% higher than 2023, mainly due to higher farmland sales. - The 2024 campaign is being developed with better weather conditions in the region, mainly in
Argentina , and correction of international commodity prices. We hope to plant approximately 282,000 hectares, in line with the 2023 campaign. - During the semester, in
October 2023 , we sold a fraction of 4,262 hectares of reserve with productive potential of "Los Pozos " farm, in the province ofSalta, Argentina , forUSD 2.3 million and inDecember 2023 , we sold a fraction of 500 hectares of agricultural activity of "El Tigre " farm, in the province of La Pampa,Argentina , forUSD 3.75 million . - In
February 2024 , the process of distributing the dividend in cash and in kind, in IRSA shares, and the treasury shares in the portfolio, approved by the Shareholders' Meeting onOctober 5, 2023 , to ADS holders, which was pending, was concluded.
Financial Highlights
(In millions of Argentine Pesos)
6M FY 2024 ended
Income Statement | ||
Agricultural Business Revenue | 103,563 | 114,924 |
Agricultural Business Gross Profit | 26,445 | 17,384 |
Urban Properties Revenues | 84,304 | 77,591 |
Urban Properties Gross Profit | 69,438 | 64,112 |
Consolidated Gross Profit | 95,095 | 80,181 |
Consolidated results from Operations | 206,385 | (52,810) |
Profit for the Period | 122,205 | 59,907 |
Attributable to: | ||
Cresud's Shareholders | 48,800 | 32,929 |
Non-Controlling interest | 73,405 | 26,978 |
EPS (Basic) | 82.42 | 55.73 |
EPS (Diluted) | 69.91 | 47.67 |
Balance Sheet | ||
Current Assets | 609,727 | 444,204 |
Non-Current Assets | 2,084,006 | 1,765,788 |
Total Assets | 2,693,733 | 2,209,992 |
Current Liabilities | 516,221 | 412,236 |
Non-Current Liabilities | 1,035,028 | 805,488 |
Total Liabilities | 1,551,249 | 1,217,724 |
Non-Controlling Interest | 667,581 | 562,346 |
Shareholders' Equity | 1,142,484 | 992,268 |
The Company's market capitalization as of
Cresud, leading Argentinean agricultural company with a growing presence in Latin American countries, cordially invites you to participate in its second quarter of the FY 2024 Results Conference Call on
To access the Webinar:
https://zoom.us/webinar/register/WN_86jhmMlRTIeoGIYmuSTGTw
Webinar ID: 999 2694 2779
Password: 202347
In addition, you can participate communicating to this numbers:
US: +1 719 359 4580 or +1 929 205 6099 or +1 253 205 0468 or +1 253 215 8782 or +1 301 715 8592
Investor Relations Department.
https://www.cresud.com.ar/home-inversores.php?lng=en
Cresud S.A.C.I.F. y A.
+5411 4323-7449
ir@cresud.com.ar
Follow us on Twitter: @cresudir
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SOURCE Cresud S.A.C.I.F. y A.