Cresud S.A.C.I.F. y A. (NASDAQ: CRESY, BYMA: CRES), leading Argentine agricultural company, announces today its results for the first quarter of FY 2021 ended September 30, 2020
BUENOS AIRES, Argentina, Nov. 20, 2020 /PRNewswire/ --
HIGHLIGHTS
- The net result for the first quarter of fiscal year 2021 recorded a gain of ARS 7,526 million compared to ARS 9,492 million in the same period of 2020. The result from continuing operations recorded a gain of ARS 13,922 million mainly due to higher results from changes in the fair value of the investment properties from our subsidiary IRSA.
- The result of discontinued operations recorded a loss of ARS 6,396 million as a result of the deconsolidation of the investment in Israel since September 30, 2020.
- Adjusted EBITDA for the reached ARS 5.811 million, 63.5% higher than in the same period of fiscal year 2020. Agribusiness adjusted EBITDA was ARS 2,244 and urban properties and investments business (IRSA) adjusted EBITDA was ARS 4,913 million.
- 2021 Campaign is developing with high international commodity prices and under "Niña" weather conditions from moderate to neutral. We expect to plant approximately 262,000 ha.
- As a subsequent event, we completed an exchange of the Class XXIV Notes for a nominal value of USD 73.6 million. The nominal value of the notes presented and accepted for exchange was approximately USD 65.1 million, which represents a 88.41% acceptance, through the participation of 1,098 orders.
Financial Highlights
(In millions of Argentine Pesos)
3M FY 2021 ended September 30, 2020
Income Statement |
09/30/2020 |
09/30/2019 |
Agricultural Business Revenue |
8,355 |
8,777 |
Agricultural Business Gross Profit |
2,404 |
2,254 |
Urban Properties Revenues |
1,219 |
3,613 |
Urban Properties Gross Profit |
568 |
2,869 |
Consolidated Gross Profit |
2,899 |
5,034 |
Consolidated Profit from Operations |
24,269 |
15,705 |
Profit for the Period |
7,526 |
9,492 |
Attributable to: |
||
Cresud's Shareholders |
2,893 |
(3,193) |
Non-Controlling interest |
4,633 |
12,685 |
EPS (Basic) |
5.79 |
(6.57) |
EPS (Diluted) |
5.62 |
(6.57) |
Balance Sheet |
09/30/2020 |
06/30/2020 |
Current Assets |
40,590 |
248,708 |
Non-Current Assets |
226,304 |
490,817 |
Total Assets |
266,894 |
739,525 |
Current Liabilities |
67,362 |
186,092 |
Non-Current Liabilities |
106,850 |
421,928 |
Total Liabilities |
174,212 |
608,020 |
Non-Controlling Interest |
61,207 |
104,419 |
Shareholders' Equity |
92,682 |
131,505 |
Cresud, leading Argentinean agricultural company with a growing presence in Latin American countries, cordially invites you to participate in its first quarter of the FY 2021 Results Conference Call on Friday, November 20, 2020, at 02:00 PM Eastern Time / 04:00 PM BA Time.
To access the Webinar:
https://irsacorp.zoom.us/j/87306808467?pwd=a0NPbi9qNXNzTmxHS1RpK1VmcHgxUT09
Webinar ID: 873 0680 8467
Password: 726457
In addition, you can participate communicating to this numbers:
Argentina: +54 112 040 0447 or +54 115 983 6950 or +54 341 512 2188 or +54 343 414 5986
Israel: +972 55 330 1762 or +972 3 978 6688
Brazil : +55 11 4700 9668 or +55 21 3958 7888 or +55 11 4632 2236 or +55 11 4632 2237
US: +1 346 248 7799 or +1 646 558 8656 or +1 669 900 9128 or +1 253 215 8782 or +1 301 715 8592
Chile: +56 232 938 848 or +56 41 256 0288 or +56 22 573 9304 or +56 22 573 9305 or +56 23 210 9066
Investor Relations Department.
https://www.cresud.com.ar/home-inversores.php?lng=en
Cresud S.A.C.I.F. y A.
+5411 4323-7449
[email protected]
Follow us on Twitter: @cresudir
SOURCE Cresud S.A.C.I.F. y A.
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