CRESUD SACIFyA announces its results for the second quarter of Fiscal Year 2023 ended December 31, 2022
HIGHLIGHTS
- The net result for the first half of fiscal year 2023 showed a gain of
ARS 19,237 million compared to a gain ofARS 74,081 million registered in the same period of 2022. - Adjusted EBITDA for the first half of 2023 reached
ARS 17,579 million , decreasing by40.3% compared to the same period in 2022. Agribusiness adjusted EBITDA wasARS 4,754 million ,78.5% lower than the same period of 2022, mainly explained by lower productive results from the sugarcane activity inBrazil and lower farmland sales. - The 2023 campaign is progressing with mixed conditions, sustained commodity prices, rising costs and climatic challenges in
Argentina , where crop yields are being affected by a severe drought. - During the quarter, our subsidiary Brasilagro sold a fraction of 1,965 hectares of its Rio Do Meio farm, in the
State of Bahia, Brazil , for the sum ofBRL 62.4 million and a fraction of 863 hectares of the "Morotí" farm located in the State of Boquerón,Paraguay , for an amount ofUSD 1.5 million . - During the period, we continued with the share's buyback program, reaching approximately
1% of the share capital and increased our stake in IRSA.CRESUD ' s direct and indirect holding in IRSA amounts to56.7% to date. - In
November 2022 , the Company made available to shareholders a cash dividend in the amount ofARS 3,100 million , equivalent to ARS/share 5.29 and ARS/ADS 52.86.
Financial Highlights
(In millions of Argentine Pesos)
6M FY 2023 ended
Income Statement | ||
Agricultural Business Revenue | 36,905 | 48,794 |
Agricultural Business Gross Profit | 5,584 | 15,393 |
Urban Properties Revenues | 24,916 | 17,173 |
Urban Properties Gross Profit | 20,587 | 13,534 |
Consolidated Gross Profit | 25,748 | 28,524 |
Consolidated Result from Operations | (16,959) | 66,126 |
Profit for the Period | 19,237 | 74,081 |
Attributable to: | ||
10,574 | 41,310 | |
Non-Controlling interest | 8,663 | 32,771 |
EPS (Basic) | 18.08 | 70.02 |
EPS (Diluted) | 15.30 | 59.44 |
Balance Sheet | ||
Current Assets | 138,046 | 161,651 |
Non-Current Assets | 575,557 | 595,514 |
Total Assets | 713,603 | 757,165 |
Current Liabilities | 137,508 | 211,142 |
Non-Current Liabilities | 279,005 | 250,170 |
Total Liabilities | 416,513 | 461,312 |
Non-Controlling Interest | 172,593 | 178,103 |
Shareholders' Equity | 297,090 | 295,853 |
The Company's market capitalization as of
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Investor Relations Department.
https://www.cresud.com.ar/home-inversores.php?lng=en
+5411 4323-7449
ir@cresud.com.ar
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