BUENOS
AIRES, Argentina, Feb. 10,
2023 /PRNewswire/ -- Cresud S.A.C.I.F. y A.
(NASDAQ: CRESY, BYMA: CRES), leading Argentine agricultural
company, announces today its results for the second quarter of FY
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 of ARS 74,081 million
registered in the same period of 2022.
- Adjusted EBITDA for the first half of 2023 reached ARS 17,579 million, decreasing by 40.3% compared
to the same period in 2022. Agribusiness adjusted EBITDA was
ARS 4,754 million, 78.5% lower than
the same period of 2022, mainly explained by lower productive
results from the sugarcane activity in Brazil 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 of
BRL 62.4 million and a fraction of
863 hectares of the "Morotí" farm located in the State of Boquerón,
Paraguay, for an amount of
USD 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 to 56.7% to date.
- In November 2022, the Company
made available to shareholders a cash dividend in the amount of
ARS 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 December 31, 2022
Income
Statement
|
12/31/2022
|
12/31/2021
|
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:
|
|
|
Cresud's
Shareholders
|
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
|
12/31/2022
|
06/30/2022
|
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 December 31, 2022, was approximately USD 396 million. (59,217,257 ADS with a price per
ADS of USD 6.69)
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 2023 Results Conference
Call on Tuesday, February 14, 2023,
at 10:00 AM Eastern Time /
12:00 PM BA Time.
To access the
Webinar:
https://irsacorp.zoom.us/webinar/register/WN_dWGbz9GMScqh1q4YhqS71Q
Webinar ID: 895 0262 1386
Password: 001102
In addition, you can participate communicating to this
numbers:
Argentina: +54 341 512
2188 or +54 343 414 5986 or +54 112 040 0447 or +54 115 983
6950
Israel: +972 2 376 4510
or +972 3 978 6688 or +972 2 376 4509
Brasil: +55 21 3958 7888 or +55 11 4632 2236 or +55 11
4632 2237 or +55 11 4680 6788 or +55 11 4700 9668
Estados Unidos: +1 386 347 5053 or +1 507 473 4847 or +1
564 217 2000 or +1 646 558 8656 or +1 646 931 3860 or +1 669 444
9171 or +1 669 900 9128 or +1 689 278 1000 or +1 719 359 4580
or +1 253 205 0468 or +1 253 215 8782 or +1 301 715
8592 or +1 305 224 1968 or +1 309 205 3325 or +1
312 626 6799 or +1 346 248 7799 or +1 360 209 5623
Chile: +56 41 256 0288
or +56 22 573 9304 or +56 22 573 9305 or +56 23 210 9066 or +56 232
938 848
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.