Cresud S.A.C.I.F. y A. Announces Results for Fiscal Year 2013 Ended June, 2013

BUENOS AIRES, Argentina, Sept. 9, 2013 /PRNewswire/ -- Cresud S.A.C.I.F. y A. (NASDAQ: CRESY, BASE: CRES), today announces results for the Fiscal Year 2013 ended June 30, 2013.

HIGHLIGHTS

  • Net income for fiscal year 2013 reached ARS 154.3 million, 163.8% higher than in 2012, whereas the Income attributable to Cresud's shareholders was a loss of ARS 26.9 million compared to a loss of ARS 21.3 million for the previous year.
  • Operating Income was ARS 1,106.4 million, 71.0% higher than in 2012, mainly explained by the Sale of Farms and fine results from the Urban segment.
  • We posted very good returns from the sale of farms. During this period we sold 4 farms or farm parcels for a total amount of ARS 348.3 million. In addition, we developed 20,300 hectares in the region.
  • During this year the region experienced adverse weather conditions, mainly in the north of Argentina, Paraguay and Brazil. We planted 200,000 hectares and reached an output of 435,000 tons.
  • Operating income from the agricultural segment grew mainly due to the sale of farms. The Sales and Transformation segment posted an increase of 238.1% accompanied by positive results from the Sugarcane segment. These results were offset by negative results from the Grains, Beef Cattle, Milk and Agro-industrial segments.
  • Our subsidiary Brasilagro's shares became listed as Level II ADRs in the NYSE under the ticker symbol LND.
  • This year we paid a cash dividend for ARS 120.0 million to our shareholders.

 

Financial Highlights
(In millions of Argentine Pesos)
Fiscal Year 2013
Ended June 30, 2013




Income Statement

06/30/2013

06/30/2012

Agricultural Business Revenue

1,347.8

705.5

Agricultural Business Gross Profit

209.9

134.7

Urban Properties Revenues

2,323.4

1,378.3

Urban Properties Gross Profit

1,120.3

696.2

Consolidated Gross Profit

1,306.5

1,099.3

Consolidated Profit from Operations

1,106.4

647.0

Profit / (Loss) For the Period

154.3

58.5




Attributable to:



Cresud's Shareholders

-26.9

-21.3

Non-Controlling interest

181.2

79.8




EPS (Basic)

(0.05)

(0.04)

EPS (Diluted)

(0.05)

(0.04)




Balance Sheet

06/30/2013

06/30/2012

Current Assets

3,288.2

1,783.9

Non Current Assets

9,122.5

8,541.0

Total Assets

12,410.7

10,324.9

Current Liabilities

2,664.9

2,018.2

Non Current Liabilities

5,026.8

3,615.2

Total Liabilities

7,691.7

5,633.4

Non-Controlling Interest

2,231.1

2,132.6

Shareholders' Equity

2,488.0

2,558.9

 

About Cresud:

Cresud is a leading South American agricultural company with a growing presence in Latin American countries. Cresud is currently involved in a range of activities including crop production, cattle rising and milk production. Cresud's business model, which is being rolled out regionally in Latin America, taking into account the specific conditions of each country, focuses on the acquisition, development and exploitation of properties having attractive prospects for agricultural production and/or value appreciation and the selective disposition of such properties where appreciation has been realized.

Additionally, Cresud owns a 65.45% stake in IRSA Inversiones y Representaciones S.A., Argentina's largest, most well-diversified real estate company. Through its subsidiaries, IRSA manages an expanding top portfolio of shopping centers and office buildings, primarily in Buenos Aires. The company also develops residential subdivisions and apartments (specializing in high-rises and loft-style conversions) and owns three luxury hotels.

A longer version of this press release with detailed information is available on the web site: http://www.cresud.com.ar.

Cresud cordially invites you to participate in its Fiscal Year 2013 Results Conference Call on Wednesday, September 11, 2013, at 4:00 PM Eastern Time

If you would like to participate, please call: 
United States:  (888) 841-3494
International:  +1-(706) 758-3350
ID# 26855364

To access the webcast, click on the link below:
http://webcast.mzvaluemonitor.com/Cover.aspx?PlatformId=691

Investor Relations Department
Cresud S.A.C.I.F. y A.
ir@cresud.com.ar
+54-11-4323-7449

SOURCE Cresud S.A.C.I.F. y A.



RELATED LINKS
http://www.cresud.com.ar

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