Cresud(CRESY)

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Cresud(CRESY) - 2023 Q3 - Earnings Call Transcript
2023-05-16 17:54
Financial Data and Key Metrics Changes - The company reported a significant drop in operational income, with a decrease of 59.2% compared to the previous year, primarily due to adverse agricultural conditions and higher costs [50] - Net income attributable to controlling interest was ARS20.4 billion, down from ARS40 billion in the previous year [51] - The net financial results showed a gain of ARS16.4 billion, lower than the previous year's gain of ARS34.5 billion [23] Business Line Data and Key Metrics Changes - In the agricultural segment, the company expects a year-to-year drop of 4% in yields, with total crop production forecasted to decrease from 798,000 tonnes to 765,000 tonnes [12] - The service area is expected to maintain stable revenues despite lower volumes due to drought conditions in Argentina [16] - The real estate segment saw a significant sale in Brazil, with a total valuation of BRL409 million, which will be recognized in the next quarter [43] Market Data and Key Metrics Changes - The company noted a decrease in commodity prices post-pandemic, with prices for soybeans, corn, and sugarcane under pressure [7] - Argentina's soybean yield is expected to drop by 47%, while corn yields are projected to be 28% below last year's levels [9][37] - The occupancy rate for IRSA reached 97%, recovering from a pandemic low of 89% [20] Company Strategy and Development Direction - The company is focusing on maintaining stable sales and achieving breakeven in the current challenging environment, particularly in Argentina [17] - There is an emphasis on expanding operations in Brazil, with plans to increase service offerings and potentially raise capital to support growth [56] - The company is optimistic about future recovery in Argentina, particularly with government announcements regarding soybean pricing [34] Management's Comments on Operating Environment and Future Outlook - Management highlighted the adverse effects of drought on yields and the high cost of inputs, which have pressured margins [33] - The expectation of improved rainfall patterns with the potential shift from La Niña to El Niño could positively impact agricultural yields in the future [68] - The company remains cautious but optimistic about the agricultural sector's recovery, particularly in Brazil [72] Other Important Information - The company extended its buyback program for an additional 180 days, having already repurchased 80% of the planned shares [25] - A dividend of ARS9.5 billion was announced, translating to a 6% annual yield [52] - The company raised $20 million in pesos at zero interest for a period of 1.5 years, reflecting a credit rating upgrade from AA to AA+ [61] Q&A Session Summary Question: What is the outlook for farmland prices in Argentina? - Management indicated that farmland prices in Argentina have not followed the upward trends seen in the US and Brazil, but they expect potential increases with the next government [54] Question: When can ADR investors expect to receive cash and stock dividends? - The company is working with Bank of New York to expedite the distribution of dividends, expected to be processed within 10 days [30] Question: Are there any reductions in fertilizer costs? - There has been a significant drop in fertilizer prices, approximately 30% year-over-year, which is expected to help margins in the upcoming campaign [57] Question: What are the expectations for rainfall in the next 12 months? - If El Niño conditions develop, it is anticipated that rainfall could exceed 1,000 mm in key agricultural areas, which would be beneficial for yields [68] Question: Are there plans to list a brokerage company on an exchange? - Currently, there are no plans for such a listing, but the company is considering capital needs for its expanding operations in Brazil [69]
Cresud(CRESY) - 2023 Q3 - Quarterly Report
2023-02-23 16:00
Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria Unaudited Condensed Interim Consolidated Financial Statements for the six and three-month periods ended December 31, 2022, presented comparatively. Legal information Denomination: Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria Fiscal year N°: 90, beginning on July 1, 2022 Legal address: Carlos Della Paolera 261, 9rd floor – Autonomous City of Buenos Aires, Argentina Company activity: Real estate, agricul ...
Cresud(CRESY) - 2023 Q2 - Earnings Call Transcript
2023-02-14 18:44
Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (NASDAQ:CRESY) Q2 2023 Earnings Conference Call February 14, 2023 10:00 AM ET Alejandro Elsztain - Chief Executive Officer Santiago Donato Good morning everybody. We are beginning today our second quarter 2023 results. We are going to begin in page number 2, talking about the main highlights for this -- for the half year. And we are achieving a record planted area in the region and we began to include in our performance the farms th ...
Cresud(CRESY) - 2023 Q2 - Earnings Call Presentation
2023-02-14 15:10
2 3 5 6 SHARES BUYBACK PROGRAM PROGRESS AND DIVIDEND PAYMENT. Jun 20 325 Jun 21 533 Jun 22 610 Feb 23 566 Jun 20 133 Jun 21 284 Feb 23 268 Jun 22 291 100 200 300 400 500 600 700 05/2009/2001/2105/2109/2101/2205/2209/2201/23 CORN SOYBEAN MAIN HIGHLIGHTS FOR IIQ 2023 & SUBSEQUENT 4 1 CAMPAIGN PROGRESS WITH MIXED CONDITIONS Sustained commodity prices, growing costs and climate challenges. BRASILAGRO: MIXED PRODUCTIVE RESULTS & FARMLAND SALES Good grain results and negative from sugarcane. Lower results from re ...
Cresud(CRESY) - 2023 Q2 - Quarterly Report
2022-12-01 16:00
Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria Unaudited Condensed Interim Consolidated Financial Statements for the three-month period ended September 30, 2022, presented comparatively Legal information Denomination: Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria Fiscal year N°: 90, beginning on July 1, 2022 Legal address: Carlos Della Paolera 261, 9rd floor – Autonomous City of Buenos Aires, Argentina Company activity: Real estate, agricultural, co ...
Cresud(CRESY) - 2023 Q1 - Earnings Call Transcript
2022-11-14 19:05
Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (NASDAQ:CRESY) Q1 2023 Earnings Conference Call November 14, 2022 10:00 AM ET Company Participants Santiago Donato - Investor Relations Alejandro Elsztain - Chief Executive Officer MatÃas Gaivironsky - Chief Administrative & Financial Officer Conference Call Participants Santiago Donato Good morning everyone. I'm Santiago Donato, Investor Relations Officer of Cresud, and I welcome you to the first quarter 2023 Results Conference Cal ...
Cresud(CRESY) - 2023 Q1 - Earnings Call Presentation
2022-11-14 15:50
Agribusiness Performance - Strong commodity prices and sustained margins per hectare were observed despite the Niña climate effect and higher costs[2] - The company expects a planted area slightly above the previous campaign[2] - Soybean hedge position is at 53% and corn at 25%[3] - Climate challenges affected winter crops, especially wheat sowing progress[4, 5] - Agribusiness Adjusted EBITDA decreased by 57.3% from IQ22 to IQ23[17] - Farming sales decreased by 66.1% from IQ22 to IQ23[17] Real Estate Activities - Acquisition of Panamby Farm in Brazil with a total area of 10,800 hectares for BRL 285.6 million[6] - Partial sale of Morotí Farm in Paraguay for USD 1.5 million, resulting in a USD IRR of 27.9%[6] - Investment in IRSA: Urban Real Estate Business, with Rental Adjusted EBITDA showing recovery[7] - Office building sales during the quarter included 200 Della Paolera Floor 1, with a price of USD 12.6 million[7] Financial Results and Capital Allocation - Net Financial Results increased by 7.6% from IQ22 to IQ23[21] - Shares repurchase plan: 5,676,603 ordinary shares repurchased, representing 99% of the Plan, with an investment of ARS 990 million[27] - Dividend distribution approved for ARS 3,100 million, which is 528.66% of share capital, translating to ARS 5.29 per share[28]
Cresud(CRESY) - 2022 Q4 - Annual Report
2022-10-27 16:00
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR 15b-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of October, 2022 Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (Exact name of Registrant as specified in its charter) Cresud Inc. (Translation of registrant´s name into English) Republic of Argentina (Jurisdiction of incorporation or organization) Carlos Della Paolera 261 (C1001ADA) Buenos Aires, Argen ...
Cresud(CRESY) - 2022 Q4 - Annual Report
2022-10-27 16:00
United States SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 Date ...
Cresud(CRESY) - 2022 Q1 - Earnings Call Presentation
2022-05-17 16:41
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