Financial Position - Total assets increased to ARS 6,319,229 million as of December 31, 2025, up from ARS 5,816,213 million as of June 30, 2025, representing a growth of 8.6%[14] - Non-current assets rose to ARS 4,732,610 million, compared to ARS 4,391,316 million, reflecting an increase of 7.8%[14] - Shareholders' equity totaled ARS 2,606,935 million, up from ARS 2,530,228 million, indicating a rise of 3.0%[14] - Total liabilities increased to ARS 3,712,294 million from ARS 3,285,985 million, which is an increase of 12.9%[14] - The Group's net reportable assets stood at ARS 2,606,935 million, reflecting a strong financial position despite the liabilities of ARS 3,712,294 million[79] Cash and Cash Equivalents - Cash and cash equivalents significantly increased to ARS 434,767 million from ARS 286,711 million, marking a growth of 51.7%[14] - The company had cash and cash equivalents at the end of the period amounting to ARS 434,767 million, up from ARS 128,823 million at the end of the previous period[36] - Cash and cash equivalents, excluding bank overdrafts, totaled $332,643 million as of December 31, 2025, compared to $220,790 million on June 30, 2025, representing a significant increase of about 50.5%[120] Revenue and Profitability - Revenues for the six months ended December 31, 2025, reached ARS 651,055 million, a 19.1% increase from ARS 546,608 million in the same period of 2024[17] - Gross profit for the same period was ARS 242,435 million, up 20.1% from ARS 201,901 million year-over-year[17] - Profit for the period attributable to equity holders of the parent was ARS 74,448 million, compared to a loss of ARS 25,103 million in the previous year[21] - Total comprehensive income for the period was ARS 226,956 million, a significant recovery from a loss of ARS 140,844 million in the prior year[21] - The company reported a net gain from fair value adjustments of investment properties amounting to ARS 184,494 million, a recovery from a loss of ARS 299,744 million in the previous year[17] Expenses - Selling expenses increased to ARS 55,183 million from ARS 47,986 million, reflecting a 25.8% rise year-over-year[17] - Finance costs rose to ARS 77,416 million, up from ARS 48,817 million, indicating a 58.5% increase[17] - General and administrative expenses totaled ARS 63,100 million, while selling expenses were ARS 55,183 million, indicating a focus on managing operational costs[78] Investments and Assets - Investment properties increased to ARS 2,889,523 million from ARS 2,747,757 million, showing a growth of 5.2%[14] - Biological assets increased to ARS 239,416 million, up from ARS 170,567 million, representing an increase of 40.4%[14] - Trading properties increased to ARS 220,162 million from ARS 183,344 million, reflecting a growth of 20.0%[14] - The Group's investments in associates and joint ventures increased to ARS 221,408 million as of December 31, 2025, from ARS 214,160 million at the end of June 2025[90] Financial Adjustments and Corrections - The company identified an error in the inflation adjustment of share premiums, leading to a retroactive restatement of financial statements for the years ended June 30, 2024, 2023, and 2022[45] - The inflation adjustment for the period was corrected to ARS 10,580 million, reflecting a significant change from the previously reported loss of ARS 45,277 million[47] Dividends and Shareholder Returns - The company reported dividends paid of ARS 87,197 million, compared to ARS 76,377 million in the previous period[36] - CRESUD allocated ARS 5,038 million to the legal reserve and distributed a total dividend of ARS 93,782 million, with ARS 65,080 million as cash and ARS 28,702 million as in-kind dividends[181] - IRSA distributed a cash dividend of ARS 173,788 million to shareholders[187] Market and Economic Conditions - The inflation rate in Argentina was reported at 14% for the six months ending December 31, 2025, and 32% for the twelve months ending the same date[57] Other Financial Metrics - The company reported a loss for the period of ARS 28,851 million, which is an improvement from the previously reported loss of ARS 84,708 million[47] - The total comprehensive loss for the period was ARS 140,844 million, which includes a loss of ARS 25,103 million and other comprehensive loss of ARS 40,280 million[30] - The company recorded an impairment reversal of ARS 12,013 on trading properties due to improved macroeconomic conditions, with a net realizable value of ARS 204,617[104]

Core Insights - Cresud S.A.C.I.F. y A. reported its results for the second quarter of Fiscal Year 2026, highlighting a significant net income turnaround compared to the previous year [1] Financial Performance - The company distributed a dividend of ARS 93,782 million, which included ARS 65,080 million in cash and ARS 28,702 million in IRSA shares, yielding approximately 8% [1] - Adjusted EBITDA for the quarter was ARS 137,967 million, reflecting a 19.0% decrease from the same period in 2025 [1] - Net income for the first half of FY 2026 reached ARS 193,932 million, a recovery from a loss of ARS 28,851 million in the same period of 2025, primarily due to gains from changes in the fair value of IRSA investment properties [1] Agricultural Operations - The livestock business benefited from strong international demand and firm prices, contributing to robust margins [1] - A record wheat harvest was achieved in Argentina, although summer crops faced weather-related challenges, particularly a lack of rain in some areas, with recent signs of improvement [1] - The 2026 regional agricultural campaign is progressing positively with good weather conditions and stable international commodity prices, despite being at historically low levels; 316,000 hectares were planted, a 5.8% increase from the 2025 campaign [1] Revenue Breakdown - Agricultural business revenue for the first half of FY 2026 was ARS 362,192 million, up from ARS 269,767 million in the previous year [1] - Urban properties revenue reached ARS 234,536 million, compared to ARS 223,819 million in the same period of 2025 [1] - Consolidated gross profit for the company was ARS 242,435 million, an increase from ARS 201,901 million year-over-year [1] Balance Sheet Highlights - As of December 31, 2025, total assets amounted to ARS 6,319,229 million, up from ARS 5,816,213 million [1] - Current assets were ARS 1,568,619 million, while total liabilities stood at ARS 3,712,294 million [1] - The company's market capitalization was approximately USD 819.4 million, based on 64,874,243 ADS priced at USD 12.63 each [1]

Core Viewpoint - The article emphasizes the importance of investing in safe-haven assets and undervalued dividend-paying consumer staples stocks during periods of market volatility and geopolitical tension [1][2]. Group 1: Investment Strategy - Safe-haven assets like gold, silver, and U.S. Treasuries are recommended for hedging risks, although their effectiveness may vary [1]. - Consumer staples and utilities are considered safe investments due to their inelastic demand and established history of returning capital to shareholders [2]. Group 2: Selected Companies - **United Breweries Co. (CCU)**: - Benzinga Edge Value Score of 98.14, with a current dividend yield of 2.8% and a dividend payout ratio (DPR) of 58.9% [4]. - The stock trades at 16 times earnings and 0.85 times sales, showing positive price action [4]. - CCU shares have increased over 11% recently, with bullish indicators such as a Golden Cross and favorable MACD signals [7]. - **NuSkin Enterprises Inc. (NUS)**: - Benzinga Edge Value Score of 86.96, with a market cap of $540 million and a dividend yield of 2.08% [8]. - The company reduced its dividend payout from $0.39 to $0.06, but the current payout allows for future increases [8]. - NUS shares have risen 15% at the start of the year, indicating bullish momentum [11]. - **Cresud SACIF y A (CRESY)**: - Benzinga Edge Value Score of 93.82, with a dividend yield of over 5% and a DPR of 23.4% [12]. - The company operates in agriculture and real estate, providing diversification during geopolitical tensions [12]. - CRESY shares have formed a Golden Cross, with the 50-day SMA acting as support [15]. - **Weis Markets Inc. (WMK)**: - Benzinga Edge Value Score of 89.87, with a market cap of $1.68 billion and a dividend yield of 2% [16]. - The DPR is 35.79%, allowing potential for future dividend increases [16]. - WMK shares have shown bullish signals, with a breakout above the 50-day SMA and an RSI indicating upward momentum [18]. - **Calavo Growers Inc. (CVGW)**: - Benzinga Edge Value Score of 80.91, with a dividend yield of 3.09% and a DPR of 72% [19]. - The company operates in the fresh produce sector, which is less affected by tariffs [19]. - CVGW shares have surged nearly 20% recently, breaking above key moving averages [21].

Financial Performance - Revenues for the three-month period ended September 30, 2025, increased to ARS 318,529 million, up from ARS 269,701 million in the same period last year, representing an 18.1% growth[17] - Gross profit for the period was ARS 114,175 million, compared to ARS 86,958 million in the prior year, reflecting a 31.4% increase[17] - Profit for the period reached ARS 110,133 million, a significant recovery from a loss of ARS 77,887 million in the same period last year[17] - The profit for the period ended September 30, 2025, was ARS 110,133 million, compared to ARS 73,289 million for the previous period, indicating a year-over-year increase of approximately 50.4%[22] - Total comprehensive income for the period was ARS 168,625 million, which includes ARS 20,628 million in other comprehensive income[22] - The company reported a significant increase in other operating results, netting ARS (7,805) million compared to ARS (152) million in the previous year, a change of 5034.9%[193] - Financial results, net, showed a loss of ARS (69,482) million, a decline of 215.8% compared to a gain of ARS 59,979 million in the previous year[193] Assets and Liabilities - Total assets as of September 30, 2025, amounted to ARS 5,839,158 million, an increase from ARS 5,392,537 million as of June 30, 2025[14] - Total liabilities as of September 30, 2025, were ARS 2,173,499 million, which includes borrowings of ARS 1,514,543 million[116] - Non-current liabilities increased to ARS 2,246,474 million from ARS 1,985,053 million, reflecting a 13.2% rise[14] - The total liabilities increased to ARS 1,493,454 million from ARS 1,389,620 million, representing an increase of about 7.5%[30] Shareholders' Equity - Shareholders' equity rose to ARS 2,525,450 million, compared to ARS 2,345,917 million at the end of the previous quarter, indicating a 7.7% increase[14] - As of September 30, 2025, total shareholders' equity increased to ARS 2,525,450 million, up from ARS 2,345,917 million as of June 30, 2025, reflecting a growth of approximately 7.67%[22] Cash Flow and Investments - Cash and cash equivalents decreased to ARS 224,748 million from ARS 265,826 million, indicating a 15.4% decline[14] - The company reported borrowings and issuance of non-convertible notes totaling ARS 147,329 million for the financing activities in the three-month period ended September 30, 2025[34] - Cash generated from operating activities before income tax paid for the three-month period ended September 30, 2025, was $156,066 million, compared to $56,655 million for the same period in 2024[124] Agricultural Performance - Agricultural revenues increased to ARS 190,163 million in Q3 2025, up from ARS 151,710 million in Q3 2024, representing a growth of 25.4%[75] - The gross profit for the agriculture segment was ARS 35,029 million in Q3 2025, compared to ARS 11,426 million in Q3 2024, indicating a significant increase of 206.5%[75] - The agricultural sector is benefiting from a favorable regulatory framework, including reduced export taxes and a temporary 0% rate for certain crops[199] - The 2026 agricultural campaign is progressing under favorable weather conditions, with strong yield prospects for wheat and early corn[198] Fair Value Adjustments - The company reported a net gain from fair value adjustment of investment properties of ARS 217,265 million, a significant improvement from a loss of ARS 292,780 million in the previous year[17] - The net unrealized gain from fair value adjustments of investment properties was $217,265 million for the period ended September 30, 2025, compared to a loss of $292,794 million for the same period in the previous year[94] Debt and Financing - The Group's total borrowings as of September 30, 2025, amounted to $1.51 billion, an increase from $1.42 billion as of June 30, 2025[139] - The Group issued Series XLVIII Notes for $43.7 million at a fixed rate of 8.0%, maturing on July 11, 2028[140] - The Group also issued Series XLIX Notes for $31.3 million at a fixed annual rate of 7.25%, maturing on September 2, 2027[141] Other Financial Metrics - Total expenses increased to $265,549 million as of September 30, 2025, compared to $233,238 million in the previous year, reflecting a growth of 13.9%[148] - Interest expenses rose to $30,185 million in 2025, up from $21,632 million in 2024, marking an increase of 39.5%[150] - The company reported a significant impairment of intangible assets amounting to $9,226 million in 2024, which was not present in 2025[149]

Group 1 - The article does not provide any specific content related to a company or industry, as it appears to be a technical issue regarding browser settings and ad-blockers [1]

Group 1 - Argentine financial markets experienced a rally following the overwhelming victory of Javier Milei's party in the midterm elections, with voters supporting economic reforms through fiscal tightening and free market measures [1][2] - The election results ensure the continuation of U.S. financial aid to Argentina, as President Trump had previously stated that support would depend on the election outcome [1] - Several Argentine stocks surged in pre-market trading, with Banco BBVA rising over 36%, Galicia Financial up 35%, Grupo Supervielle increasing by 31%, Banco Macro climbing 35%, and YPF and Pampa Energía both recording 26% gains [1] Group 2 - Despite a 17.7% year-to-date decline in the Argentine benchmark S&P MERVAL index, the Global X MSCI Argentina ETF saw a 16% increase in pre-market trading, narrowing its year-to-date loss to 10% [2] - The midterm elections involved the renewal of half of the Chamber of Deputies and one-third of the Senate, with Milei's party receiving approximately 41% of the votes compared to 31% for the leftist opposition [2] - Prior to the election, Argentine assets had experienced a downturn due to political tensions following Milei's party's losses in key local elections [2]

Financial Adjustments and Economic Context - As of June 30, 2025, the company has adjusted its financial statements in accordance with IAS 29 due to Argentina being classified as a hyperinflationary economy [987]. - Argentina's GDP increased by 6.3% interannually in Q2 2025, compared to a decrease of 1.7% in Q2 2024 [1029]. - The average exchange rate per USD was ARS 1,200.5 as of June 30, 2025, compared to ARS 910.5 in 2024 [1029]. - Inflation rates for the fiscal year ended June 30, 2025, were 39.4% for the consumer price index and 21.2% for the wholesale price index [1034]. - The unemployment rate as of June 30, 2025, was 7.6%, unchanged from the previous year [1031]. Revenue Recognition and Sales Performance - Revenue from agricultural activities primarily comes from sales of agricultural produce, biological assets, and related services, with revenue recognized upon service delivery [993]. - Revenue from the sale of grains is recognized when ownership risks are transferred, typically upon delivery, with pricing often determined in U.S. dollars [996]. - Revenue from the sale of farms is recognized when performance obligations are met, including the buyer's down payment and transfer of risks [998]. - Rental income from shopping malls is recognized on a straight-line basis over the lease term, including base rent and contingent rent based on sales [1007]. - The company recognizes revenue from sales and developments of real estate properties only when possession has been transferred to the buyer [1019]. - The company engages in barter transactions, recognizing revenue at the fair value of goods delivered, adjusted for any cash received [1021]. - Total revenues for the agricultural business reached ARS 448,266 million, with ARS 236,332 million generated in Argentina and ARS 211,934 million from other countries, primarily Brazil [1072]. - The urban properties and investments line of business generated total revenues of ARS 374,662 million, with ARS 374,042 million originating in Argentina [1077]. - Revenues decreased to ARS 448,266 million in June 2025 from ARS 503,614 million in June 2024, a decline of 10.96% [1085]. - Revenues from the Shopping Malls segment increased by 8.0% from ARS 250,468 million in FY 2024 to ARS 270,531 million in FY 2025, driven by higher base rental revenues and parking income [1089]. - Revenues from the Offices segment decreased by 11.4% from ARS 22,646 million in FY 2024 to ARS 20,065 million in FY 2025, primarily due to a 12.1% drop in lease revenue [1090]. - Revenues from the Hotels segment decreased by 24.7% from ARS 85,840 million in FY 2024 to ARS 64,596 million in FY 2025, attributed to a decline in international tourism [1092]. - Revenues from the Agricultural Production segment decreased by 12.6% from ARS 374,179 million in FY 2024 to ARS 326,975 million in FY 2025, primarily due to lower crop sales [1088]. Profit and Loss Analysis - For the year ended June 30, 2025, total revenues reached ARS 914,157 million, a decrease from ARS 959,359 million in 2024, reflecting a decline of approximately 4.7% [1063][1064]. - Gross profit for the year ended June 30, 2025, was ARS 368,054 million, compared to ARS 406,483 million in 2024, indicating a decrease of about 9.5% [1063][1065]. - The company reported a profit from operations of ARS 220,945 million for the year ended June 30, 2025, compared to a loss of ARS 191,917 million in 2024 [1063][1065]. - The share of profit from associates and joint ventures was ARS 26,890 million for 2025, compared to ARS 45,943 million in 2024, reflecting a decrease of approximately 41.5% [1063][1065]. - The company reported a net gain from the fair value adjustment of investment properties of ARS 19,075 million for the year ended June 30, 2025 [1063]. - The net profit for the year increased by ARS 75,527 million, from ARS 148,839 million in FY 2024 to ARS 224,366 million in FY 2025, with ARS 201,257 million derived from the Urban Properties and Investment Business [1175]. Costs and Expenses - General and administrative expenses for the year ended June 30, 2025, were ARS 111,002 million, slightly lower than ARS 118,299 million in 2024, indicating a decrease of about 6.9% [1063][1065]. - The total costs for the year ended June 30, 2025, were ARS 570,742 million, down from ARS 571,311 million in 2024, showing a marginal decrease of about 0.1% [1063][1065]. - General and administrative expenses for the Agricultural Production segment decreased by 15.1% from ARS 27,383 million in FY 2024 to ARS 23,258 million in FY 2025 [1128]. - General and administrative expenses for the Shopping Malls segment decreased by 3.7% from ARS 30,126 million in FY 2024 to ARS 28,999 million in FY 2025 [1131]. - Selling expenses for the Agricultural Production segment decreased by 11.5% from ARS 40,340 million in FY 2024 to ARS 35,685 million in FY 2025 [1136]. - Selling expenses in the Sales and Developments segment decreased by 30.9%, from ARS 4,512 million in FY 2024 to ARS 3,116 million in FY 2025, with expenses as a percentage of revenues dropping from 35.0% to 24.4% [1142]. Segment Performance - The segment profit for Urban Properties and Agricultural business was ARS 258,667 million for 2025, down from ARS 247,835 million in 2024, showing an increase of approximately 4.3% [1063][1065]. - The urban properties segment reported a segment loss of ARS 226,038 million, highlighting challenges faced in this area despite overall revenue generation [1078]. - The agricultural business segment profit was ARS 47,554 million, indicating a strong performance in comparison to the previous fiscal year [1071]. - The urban properties segment experienced a gross profit of ARS 287,056 million, despite a net loss from fair value adjustments of investment properties amounting to ARS 570 million [1076]. - The share of profit of associates and joint ventures in the Agricultural Production segment decreased by 83.0%, from ARS 2,161 million in FY 2024 to ARS 368 million in FY 2025 [1163]. - The share of profit from the Others segment decreased by 46.2%, from ARS 47,068 million in FY 2024 to ARS 25,332 million in FY 2025, mainly impacted by macroeconomic conditions in Argentina [1171]. Investment and Asset Management - Reportable assets as of June 30, 2025, totaled ARS 5,088,822 million, compared to ARS 4,842,217 million in 2024, representing an increase of about 5.1% [1063][1065]. - Investment properties in the urban segment totaled ARS 2,499,231 million, showcasing the company's substantial asset base in this area [1076]. - The company holds reportable assets of ARS 1,038,536 million in the agricultural business, with a significant portion located in Argentina [1072]. - BrasilAgro completed the sale of 1,157 hectares of the Alto Taquari farm for BRL 189.4 million (ARS 43,395 million) on September 26, 2024 [1127]. - BrasilAgro sold 12,335 hectares of the Chaparral farm for BRL 364.5 million, subject to variations in soybean bag price, on March 26, 2024 [1139].

Financial Position - Total assets as of June 30, 2025, amounted to ARS 5,088,822 million, a decrease of 8.1% from ARS 5,539,113 million in 2023[14] - Shareholders' equity increased to ARS 2,213,792 million as of June 30, 2025, compared to ARS 2,486,830 million in 2023, reflecting a decline of 10.9%[14] - Non-current liabilities decreased to ARS 1,873,251 million in 2025 from ARS 2,018,874 million in 2023, a reduction of 7.2%[14] - Current assets rose to ARS 1,246,695 million in 2025, up from ARS 1,113,350 million in 2023, representing an increase of 12.0%[14] - Total liabilities stood at ARS 2,875,030 million in 2025, down from ARS 3,052,283 million in 2023, a decrease of 5.8%[14] Revenue and Profitability - The company reported a net income of ARS 970,586 million for the fiscal year ended June 30, 2025, compared to ARS 1,077,368 million in 2023, a decline of 9.9%[18] - Revenues for the year ended June 30, 2024, were ARS 914,157 million, a decrease of 4.7% compared to ARS 959,359 million in 2023[19] - Gross profit for the year was ARS 368,054 million, down 9.5% from ARS 406,483 million in the previous year[19] - Profit for the year attributable to equity holders of the parent was ARS 96,148 million, a decrease of 29.1% compared to ARS 135,726 million in 2023[19] - The profit for the year ended June 30, 2024, is ARS 163,826 million, compared to ARS 135,726 million for the previous year, reflecting a growth of approximately 20.7%[32] Investment Properties - Investment properties were valued at ARS 2,404,115 million as of June 30, 2025, a slight decrease from ARS 3,037,044 million in 2023, down by 20.9%[14] - The company reported a net gain from fair value adjustment of investment properties of ARS 19,075 million, a recovery from a loss of ARS 486,121 million in 2023[19] - The Group's investment properties primarily consist of shopping malls and offices, with a focus on long-term rental income and capital appreciation[123] - Investment properties are initially measured at cost, including purchase price and directly attributable expenditures, and are subsequently carried at fair value[132] - Changes in fair values of investment properties are recognized in the Consolidated Statement of Comprehensive Income under "Net gain from fair value adjustment of investment properties"[137] Cash Flow and Financing Activities - Cash and cash equivalents increased to ARS 250,855 million in 2025, compared to ARS 201,685 million in 2023, marking a growth of 24.3%[14] - The company reported a net cash used in financing activities of ARS (471,725) million, an increase from ARS (470,037) million, showing a rise of 0.4%[72] - The net cash generated from operating activities for the year ended June 30, 2023, was ARS 151,319 million, compared to ARS 115,446 million in the previous year, representing a 31% increase[46] Shareholder Activities - The company repurchased treasury shares amounting to ARS 1,784 million during the fiscal year ended June 30, 2024[34] - Dividends distributed for the year totaled ARS 375,036 million, which includes ARS 172,312 million for the previous year[34] - Dividends paid during the year were ARS 87,431 million, a decrease from ARS 172,303 million in the previous year[46] Economic Environment - The Argentine economy showed a year-on-year growth of 6.6% in the Monthly Economic Activity Estimator (EMAE) during the second half of 2024[61] - Accumulated inflation in Argentina reached 39.4% from July 1, 2024, to June 30, 2025, with a projected annual inflation of 27.3% for December 2025[61] - The Argentine peso depreciated from ARS 912 per dollar to ARS 1,205 per dollar over the fiscal year[61] Accounting and Regulatory Changes - The company has adopted new accounting standards, including amendments to IAS 1 and IFRS 16, which will be mandatory by June 30, 2025[93][94] - The cumulative inflation rate in Argentina over the last three years exceeded 1,017%, necessitating the application of IAS 29 for financial reporting[78][82] - The adjustments for inflation have been calculated based on the indexes reported by the FACPCE, reflecting the economic conditions in Argentina[81] Ownership and Subsidiaries - The Group's ownership interest in BrasilAgro decreased from 37.88% in June 2023 to 35.22% in June 2025[102] - The Group's stake in Futuros y Opciones.Com S.A. increased from 49.55% in June 2023 to 51.21% in June 2025[102] - The Group maintains a 100% ownership interest in Helmir S.A. and several agricultural subsidiaries in Brazil[102] Biological Assets - The company’s biological assets were valued at ARS 149,235 million in 2025, an increase from ARS 145,031 million in 2023, reflecting a growth of 2.0%[14] - Biological assets include unharvested crops and livestock, with the Group maintaining a diverse agricultural portfolio[179] - Biological assets are measured at fair value less costs to sell upon initial recognition and at each reporting date, unless fair value cannot be reliably measured[184]

Group 1 - The investment strategy focuses on long-only investment, evaluating companies from an operational and buy-and-hold perspective [1] - The approach does not prioritize market-driven dynamics or future price action, instead emphasizing the long-term earnings potential of companies [1] - The majority of recommendations will be holds, indicating a cautious approach to market conditions and a belief that only a small fraction of companies are suitable for buying at any given time [1] Group 2 - The articles aim to provide valuable information for future investors while maintaining a healthy skepticism towards a generally bullish market [1] - There is a clear distinction made between the author's opinions and professional investment advice, emphasizing the need for readers to conduct their own due diligence [2][3]

Group 1 - Cresud (NASDAQ: CRESY) is granted a Buy rating, indicating a positive outlook for the company in the coming years [1] - The Argentinian Government has reduced export taxes on agricultural products, which is expected to benefit Cresud [1] Group 2 - The analyst, Daniel Mellado, has a background in economics and statistics, with experience in analyzing agricultural commodities and managing trading and data analysis teams [1] - Mellado's expertise includes developing strategies for algorithmic trading and providing analysis and valuation for sectors such as commodities, banking, technology, and pharmaceuticals [1]