Financial Performance - Total revenues for the year ended June 30, 2024, amounted to ARS 655,037 million, with the agricultural business contributing ARS 384,487 million and urban properties contributing ARS 270,550 million [335]. - Gross profit for the total segments was ARS 294,983 million, with a gross profit margin of approximately 45% [336]. - The company reported a profit from operations of ARS (136,236) million, indicating a challenging operational environment [336]. - The company reported a profit of ARS 67,856 million for the period, an increase of 48,175 million or 273.5% compared to a loss of ARS 162,123 million in the previous year [346]. - The company’s net profit for FY 2024 was ARS 93,980 million, down from ARS 290,458 million in FY 2023, primarily due to losses in the Urban Properties and Investment business [378]. Revenue Recognition - Revenue from agricultural activities primarily comes from sales of agricultural produce, with revenue recognized upon transfer of ownership risks and benefits [315]. - Revenue from the sale of grains is recognized based on the price determined for each client, considering foreign exchange rates at the delivery date [315]. - Rental income from shopping malls is recognized on a straight-line basis over the lease term, with contingent rents ranging from 2% to 12% of lessees' gross sales [317]. - The company recognizes revenue from hotel operations when services are provided, including room services and gastronomy [320]. - Revenue from the sale of real estate properties is recognized only when possession is transferred to the buyer, typically upon unconditional exchange of contracts [320]. Economic Environment - Argentine GDP decreased by 1.7% year-on-year in Q2 2024, an improvement from a 4.9% decrease in Q2 2023 [322]. - Inflation rates in Argentina reached 271.5% (CPI) and 284.4% (IPIM) for the fiscal year 2024, significantly higher than 115.6% and 112.8% in 2023 [323]. - The average exchange rate for USD was ARS 910.50 as of June 30, 2024, compared to ARS 256.50 in 2023, indicating a depreciation of the Peso by 255.0% [322]. - The unemployment rate in Argentina rose to 7.6% as of June 30, 2024, up from 6.2% in the previous year [321]. Agricultural Business Performance - Total revenues for the agricultural business reached ARS 384,487 million, an increase from ARS 323,676 million in the previous year, reflecting a growth of approximately 19% [338]. - Gross profit for the agricultural business was ARS 73,324 million, compared to ARS 49,272 million in the prior year, indicating a significant increase of around 49% [339]. - The agricultural business segment showed a revenue increase compared to the previous year, with revenues of ARS 378,132 million for the year ended June 30, 2023 [335]. - Agricultural Business revenues totaled ARS 258,632 million from Argentina and ARS 257,240 million from other countries, primarily Brazil with ARS 237,601 million [341]. Urban Properties and Investments - Urban properties and investments generated total revenues of ARS 270,550 million, with shopping malls contributing ARS 179,650 million and offices ARS 16,243 million [342]. - The gross profit for urban properties and investments was ARS 221,659 million, with a net loss from fair value adjustments of investment properties amounting to ARS 341,584 million [342]. - The company reported a segment profit of ARS 120,545 million for urban properties, despite a loss of ARS 56,829 million from offices [342]. - The net loss from fair value adjustments in the previous fiscal year was ARS 190,751 million, reflecting market challenges [343]. Costs and Expenses - General and administrative expenses were ARS 85,131 million, reflecting the company's cost management efforts [336]. - Selling expenses were reported at ARS 43,768 million, which is an increase from ARS 34,723 million, indicating rising costs in this area [339]. - General and administrative expenses increased to ARS 33,678 million from ARS 31,550 million, a rise of 2,128 million or 6.75% [346]. - The overall cost of goods sold was ARS 311,163 million, which represents an increase of 10,906 million or 3.6% from ARS 300,257 million in 2023 [347]. Debt and Financing - The company expects to incur total borrowings of ARS 822,535 million as of June 30, 2024, with ARS 346,944 million due within one year [404]. - Total debt as of June 30, 2024, was ARS 822,535 million, with non-current liabilities at ARS 475,591 million and current liabilities at ARS 346,944 million [417]. - The total borrowings decreased from ARS 973,601 million in June 2023 to ARS 822,535 million in June 2024, reflecting a reduction of approximately 15.5% [417]. - The company plans to continue refinancing short-term liabilities and working capital through various note issuances [421]. Legal and Regulatory Matters - The company is involved in a legal proceeding with Exagrind S.A. regarding damages from a fire, with a potential claim amounting to ARS 52,893,850 [492]. - Cresud has initiated judicial actions against the Province of Salta regarding fees for corn, soybeans, and sorghum campaigns, with estimated contingencies amounting to ARS 284.5 million at year-end [493]. - The company is subject to Argentine law regarding dividend distribution, requiring approval from shareholders at the annual meeting [509]. Future Outlook - The company anticipates continued growth in revenues and profitability driven by market expansion and new product developments in the agricultural sector [338]. - The company plans to focus on market expansion and new product development as part of its future strategy [346]. - The company is considering strategic acquisitions to bolster its market position, with a budget of USD 100 million allocated for potential deals [456].

Core Insights - CRESUD S.A.C.I.F. y A. reported a net gain of ARS 104,129 million for fiscal year 2024, a significant decrease from ARS 279,709 million in 2023 [2][3] - The company's adjusted EBITDA reached ARS 256,396 million, with contributions of ARS 80,066 million from the agricultural business and ARS 176,330 million from urban properties and investments, marking a 23.5% increase compared to fiscal year 2023 [2] - The agricultural sector faced challenges with a 7% decrease in grain production, totaling 707,000 tons due to adverse weather conditions [2] - Livestock activity showed strong performance with high meat production levels and improved prices in Argentina [2] - CRESUD sold three farm fractions for USD 75 million, generating a profit of approximately USD 48 million [2] - The company distributed cash dividends totaling ARS 52,000 million and treasury shares amounting to approximately 1% of the stock capital [2] Financial Performance - Current assets decreased to ARS 706,400 million from ARS 798,558 million year-over-year [2] - Total assets fell to ARS 3,473,111 million from ARS 3,972,964 million [2] - Current liabilities decreased to ARS 657,605 million from ARS 741,090 million [2] - Shareholders' equity declined to ARS 1,563,910 million from ARS 1,783,828 million [2] - Agricultural business revenue increased to ARS 384,487 million from ARS 378,132 million, with gross profit rising to ARS 73,324 million from ARS 49,272 million [3] - Urban properties revenues slightly increased to ARS 270,550 million from ARS 268,627 million, with gross profit rising to ARS 221,659 million from ARS 219,262 million [3] - The consolidated result for the period was ARS 104,729 million, down from ARS 279,709 million in the previous year [3] - Basic EPS decreased to 142.77 from 260.59, and diluted EPS decreased to 120.52 from 229.01 [3]

Financial Performance - Revenues increased by 11.2% YoY, reaching ARS 74,677 million compared to ARS 67,144 million in the same period of 2023[7] - Gross profit rose by 17.5% YoY, amounting to ARS 28,956 million, up from ARS 24,637 million[7] - EBITDA increased by 33.4% YoY, reaching ARS 20,591 million compared to ARS 15,432 million in the previous year[7] - Adjusted EBITDA for the period was ARS 164,332 million, a 61.4% increase from ARS 101,820 million in 2023[21] - Revenues for the nine months ended March 31, 2024, increased to ARS 450,813 million, up from ARS 428,532 million in the same period last year, representing a growth of 5.9%[58] - Gross profit for the nine months was ARS 206,006 million, compared to ARS 169,854 million in the previous year, reflecting a 21.3% increase[58] - Financial results, net for the nine months were ARS 93,571 million, an increase from ARS 63,772 million in the previous year[58] - The company reported a profit per share of ARS 37.73 for the nine months, down from ARS 135.07 in the previous year[58] Losses and Challenges - The company reported a net loss of ARS 25,646 million for the period, compared to a profit of ARS 140,918 million in the previous year[21] - The company reported a loss from operations of ARS 233,224 million for the nine months, compared to a loss of ARS 70,125 million in the same period last year[58] - The total comprehensive loss for the period was ARS 10,441 million, compared to a comprehensive income of ARS 146,480 million in the previous year[58] - The urban properties segment recorded a segment loss of ARS 240,223 million, influenced by significant fair value adjustments[152] - The net unrealized loss from fair value adjustment of investment property was ARS 399,278 million for the period, significantly higher than ARS 172,822 million in the previous year[183] Asset and Equity Changes - As of March 31, 2024, total assets decreased to ARS 2,985,924 million from ARS 3,350,835 million as of June 30, 2023, representing a decline of approximately 10.9%[54] - Non-current assets decreased from ARS 2,677,323 million to ARS 2,304,638 million, a reduction of about 13.9%[54] - Shareholders' equity fell to ARS 580,270 million from ARS 651,857 million, indicating a decrease of approximately 10.9%[54] - The company’s total shareholders' equity as of March 31, 2024, was ARS 1,334,483 million, compared to ARS 1,504,497 million as of June 30, 2023[62] - The fair value of the Group's investment properties decreased to $842.5 million as of March 31, 2024, down from $1,282.9 million on June 30, 2023, representing a decline of 34.3%[179] Cash Flow and Operating Activities - Net cash generated by operating activities was ARS 60,696 million, significantly higher than ARS 25,141 million in the previous year[16] - The balance of cash and cash equivalents at the end of the period was ARS 103,653 million, down from ARS 118,723 million in the previous year[81] - The company generated ARS 95,354 million from investing activities, compared to ARS 63,731 million in the prior year[81] - The company repurchased treasury shares amounting to ARS 8,776 million, a decrease from ARS 21,077 million in the previous year[81] Agricultural and Urban Property Performance - For the period ended March 31, 2024, total revenues from the agricultural business were ARS 238,561 million, while urban properties and investment business generated ARS 177,236 million, totaling ARS 415,797 million[142] - The gross profit for the agricultural business was ARS 62,481 million, and for urban properties, it was ARS 145,998 million, leading to a total gross profit of ARS 208,479 million[142] - The agricultural segment reported a segment profit of ARS 38,347 million, with a notable gain from the disposal of farmlands amounting to ARS 6,254 million[150] - The urban property and investment segment is performing well, with good results in rental segments despite a drop in consumption in shopping centers[24] Economic Environment and External Factors - As of March 31, 2024, the Group experienced a 1.6% decline in economic activity in Argentina, continuing a trend from 2023[88] - Accumulated inflation from April 1, 2023, to March 31, 2024, reached 288%, significantly impacting financial results[88] - The Argentine peso depreciated from ARS 209.1 to ARS 855 per dollar during the same period, reflecting a substantial exchange rate fluctuation[88] - The new Argentine government initiated legal and regulatory reforms, impacting the economic environment in which the Group operates[90] Investments and Transactions - Cresud sold a fraction of its "Los Pozos" farm for USD 2.3 million, with USD 1.4 million remaining to be received[109] - The sale of 500 hectares from the "El Tigre" farm was completed for USD 3.8 million, with USD 0.9 million still outstanding[116] - BrasilAgro sold a portion of the "Chaparral" farm for BRL 364.5 million, with the sale's result to be recorded in the fourth quarter[117] - IRSA sold the "Maple Building" for USD 6.75 million, with various payment structures including cash and service provisions[118] - The transaction price for a project was set at USD 16.4 million, which includes the delivery of 125 single-family lots and 40% of the buildable square meters of multifamily lots[127] Shareholder and Capital Changes - The company reported a total of 736,354,245 common shares with a nominal value of ARS 10 each after the recent capital stock increase[37] - The company has modified the terms and conditions of outstanding warrants for common shares following the recent capital increase[37] - The company’s control group holds a voting stock interest of 38.96%[46] - In November and December 2023, IRSA sold 1,583,560 common shares of GCDI for a total of ARS 25.5 million, representing 0.17% of the capital share[130] - During Q1 2024, IRSA sold an additional 5,033,873 common shares of GCDI for ARS 165 million, equivalent to 0.55% of the capital share[130]

BUENOS AIRES, Argentina, May 10, 2024 /PRNewswire/ -- CRESUD S.A.C.I.F. y A. (NASDAQ: CRESY, BYMA: CRES), leading Latin American agricultural company, announces today its results for the third quarter of FY 2024 ended March 31, 2024. HIGHLIGHTS The net result for the nine-month period of fiscal year 2024 recorded a loss of ARS 25,646 million compared to a profit of ARS 140,918 million in the same period of 2023 due to the impact of exposure to inflation on the fair value of investment properties of IRSA. T ...

Unaudited Condensed Interim Consolidated Financial Statements as of December 31, 2023 and for the six and three-month periods ended as of that date, presented comparatively. Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria Unaudited Condensed Interim Consolidated Statements of Changes in Shareholders' Equity for the six-month period ended December 31, 2022 (All amounts in millions of Argentine pesos, except otherwise indicated) Free translation from the original prepared in Spanis ...

BUENOS AIRES, Argentina, Feb. 8, 2024 /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 2024 ended December 31, 2023. HIGHLIGHTS The net result for the first semester of fiscal year 2024 recorded a gain of ARS 122,205 million compared to ARS 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 ...

On October 20, 2023, CRESUD reported that it had made the payment of the dividend approved at the meeting held on October 5, 2023 in Argentina. ● Number of shares to be issued per warrant: Pre-dividend ratio: 1.1232. Post-dividend ratio: 1.2548. ● Exercise price per new share to be issued: Pre-dividend price: USD 0.5036. Post-dividend price: USD 0.4508. 33 We have reviewed the accompanying unaudited condensed interim consolidated financial statements of Cresud Sociedad Anónima, Comercial, Inmobiliaria, Fina ...

United States SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 191 Series XXXV Notes Series XXXVI Notes Series XXXVII Notes Series XXXVIII Notes 192 Series XXXIX Notes Series XL Notes Series XLI and XLII Notes Helmir bank loan Series I Notes (issued by FYO) Series II Notes (issued by FYO) 193 The proceeds have been used mainly to attend working capital needs. On April 25, 2023, FYO issued Series III Notes in the local market for an amount of USD 20.0 million. The note is dollar denominated and paya ...

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (NASDAQ:CRESY) Q4 2023 Earnings Conference Call September 11, 2023 9:00 AM ET Company Participants Santiago Donato - Investor Relations Officer Alejandro Elsztain - Chief Executive Officer Matias Gaivironsky - Chief Administrative Officer and Chief Financial Officer Conference Call Participants Operator Good morning, everyone. I'm Santiago Donato, Investor Relations Officer of Cresud, and I welcome you to the Fiscal Year 2023 Result ...

Unaudited Condensed Interim Consolidated Financial Statements for the nine and three-month periods ended March 31, 2023, presented comparatively. Denomination: Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria Legal address: Carlos Della Paolera 261, 9rd floor – Autonomous City of Buenos Aires, Argentina Date of registration of the by-laws in the Public Registry of Commerce: February 19, 1937 Expiration of Company charter: June 6, 2082 Stock: 592,172,576 common shares (***). Contro ...