Cresud S.A.C.I.F. y A. Announces Results for the First Quarter 2016 ended September 30, 2015

Nov 11, 2015, 20:23 ET from Cresud S.A.C.I.F. y A.

BUENOS AIRES, Argentina, Nov. 11, 2015 /PRNewswire/ -- Cresud S.A.C.I.F. y A. (NASDAQ: CRESY, BASE: CRES), today announces results for the First Quarter of FY 2016 ended September 30, 2015.

HIGHLIGHTS

  • Net loss for the first quarter of 2016 was ARS 361.8 million compared to income for ARS 21.7 million in the same period of 2015, mainly due to the change in the valuation method applied with respect to our subsidiary IRSA's investment in IDB Development Corporation.
  • Profit from operations rose 12.5% in the quarter, mainly due to higher revenues and sales of investment properties derived from the urban segment, offset by lower profits from the agricultural segment.
  • During this quarter we made no sales of farmlands in the region.
  • We expect to plant approximately 176,000 hectares in the region.
  • Our subsidiary Brasilagro declared dividends for BRL 80.7 million (BRL/share 1.3977) that will become payable on November 13, 2015.

 

Financial Highlights (In millions of Argentine Pesos) First Quarter of FY 2016 Ended September 30, 2015

Income Statement

09/30/2015

09/30/2014

Agricultural Business Revenue

679.9

780.2

Agricultural Business Gross Profit

86.1

105.4

Urban Properties Revenues

721.0

596.6

Urban Properties Gross Profit

540.3

441.3

Consolidated Gross Profit

617.5

540.5

Consolidated Profit from Operations

670.8

596.3

Profit / (Loss) For the Period

(361.8)

21.7

Attributable to:

Cresud's Shareholders

(292.2)

(122.0)

Non-Controlling interest

(69.6)

143.7

EPS (Basic)

(0.59)

(0.25)

EPS (Diluted)

(0.59)

(0.25)

Balance Sheet

09/30/2015

06/30/2015

Current Assets

4,669.8

4,212.1

Non Current Assets

11,067.3

11,684.9

Total Assets

15,737.1

15,897.0

Current Liabilities

4,096.4

4,473.2

Non Current Liabilities

7,831.7

6,909.1

Total Liabilities

11,928.1

11,382.3

Non-Controlling Interest

2,258.9

2,558.9

Shareholders' Equity

3,809.0

4,514.8

About Cresud:

Cresud is a leading Argentinean 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 64.30% 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 First Quarter of FY 2016 Results Conference Call on Thursday, November 12, 2015, at 9:00 AM Eastern Time

If you would like to participate, please call: United States:  (888) 841-3494 International:  +1-(706) 758-3350 ID# 64009324

To access the webcast, click on the link below: http://webcast.neo1.net/Cover.aspx?PlatformId=jqndNDzNNmqR9L%2F8GeeUzw%3D%3D

Investor Relations Department Cresud S.A.C.I.F. y A. +5411-4323-7449 ir@cresud.com.ar  www.cresud.com.ar  Follow us on Twitter: @cresudir

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



RELATED LINKS

http://www.cresud.com.ar