Cresud(US:CRESY)2022-11-14 15:50Agribusiness 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]