Cresud S.A.C.I.F. y A. Announces Results for the Nine month period of FY 2015 ended March 31, 2015
BUENOS AIRES, Argentina, May 12, 2015 /PRNewswire/ -- Cresud S.A.C.I.F. y A. (NASDAQ: CRESY, BASE: CRES), today announces results for the Nine month period of FY 2015 ended March 31, 2015.
HIGHLIGHTS
- The net income for the Nine month period of 2015 was a loss of ARS 452.9 million, compared to a loss of ARS 527.5 million in the same period of 2014.
- Operating income increased by 87.5% in the nine month period reaching ARS 1.737,1 million mainly due to higher revenues coming from the agricultural and urban segment, a higher recognition of the fair value of the biological assets of grains and sugar cane and the sales of Investment Properties made by our subsidiary IRSA.
- During this campaign we expect to transform 11,900 ha in the countries where we operate. There were no Farmland Sales during the third quarter of FY 2015.
- We planted approximately 210,000 hectares in the region during this campaign that presented good weather conditions. As of March 2015, the harvest progress is 23%.
| Financial Highlights |
||
| Income Statement |
03/31/2015 |
03/31/2014 |
| Agricultural Business Revenue |
1,642.6 |
1,141.5 |
| Agricultural Business Gross Profit |
224.1 |
355.1 |
| Urban Properties Revenues |
2,539.9 |
2,062.6 |
| Urban Properties Gross Profit |
1,407.0 |
1,102.4 |
| Consolidated Gross Profit |
1,631.2 |
1,457.5 |
| Consolidated Profit from Operations |
1,756.6 |
935.1 |
| Profit / (Loss) For the Period |
-452.9 |
-527.5 |
| Attributable to: |
||
| Cresud's Shareholders |
-487.5 |
-494.2 |
| Non-Controlling interest |
34.6 |
-33.3 |
| EPS (Basic) |
-0.99 |
-0.68 |
| EPS (Diluted) |
-0.99 |
-0.68 |
| Balance Sheet |
03/31/2015 |
06/30/2014 |
| Current Assets |
3,420.1 |
4,987.7 |
| Non Current Assets |
11,000.8 |
10,796.0 |
| Total Assets |
14,420.9 |
15,783.7 |
| Current Liabilities |
4,385.7 |
4,800.4 |
| Non Current Liabilities |
6,821.2 |
6,548.5 |
| Total Liabilities |
11,206.9 |
11,348.9 |
| Non-Controlling Interest |
1,968.7 |
2,488.9 |
| Shareholders' Equity |
3,214.0 |
4,434.8 |
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 64.61% 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 Nine month FY 2015 Results Conference Call on Wednesday, May 13, 2015, at 10:00 AM ET
If you would like to participate, please call:
United States: (888) 841-3494
Argentina: 0 800 666 0273
International: +1-(706) 758-3350
ID# 36574998
To access the webcast, click on the link below:
http://webcast.neo1.net/Cover.aspx?PlatformId=Za7cHXelzCIlH9lBr%2FYchA%3D%3D
Investor Relations Department
Cresud S.A.C.I.F. y A.
[email protected]
+54 11 4323 7449
www.cresud.com.ar
Follow us on Twitter @cresudir
SOURCE Cresud S.A.C.I.F. y A.
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