CRESUD S.A.C.I.F. y A. announces its results for the second quarter of Fiscal Year 2026 ended December 31, 2025

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]