Cresud S.A.C.I.F. y A. (NASDAQ: CRESY, BYMA: CRES), leading Argentine agricultural company, announces today its results for the third quarter of FY 2021 ended March 31, 2021

News provided by

May 13, 2021, 11:03 ET

BUENOS AIRES, Argentina, May 13, 2021 /PRNewswire/ --

HIGHLIGHTS

The net result for the nine-month period of fiscal year 2021 recorded a loss of ARS 9,231 million compared to a gain of ARS 10,589 million in the same period of 2020. The result from continuing operations recorded a loss of ARS 1,129 million mainly due to negative results from changes in the fair value of the investment properties from our subsidiary IRSA.
Adjusted EBITDA reached ARS 20,705 million, 40.5% higher than in the same period of fiscal year 2020. Agribusiness adjusted EBITDA was ARS 9,215 million, 15.4% higher than in the same period of fiscal year 2020, and urban properties and investments business (IRSA) adjusted EBITDA was ARS 11,482 million, 70,1% higher than the compared period.
During 2021 Campaign, that is developing with high international commodity prices and under "Niña" weather conditions from moderate, we planted 259,000 hectares in the region and we expect to produce the historical record of 850,000 tons of grains.
During the quarter, we have sold our lands in Bolivia to our subsidiary Brasilagro for an amount of USD 31 million and we subscribed 6.9 million shares within the framework of its capital increase for BRL 440 million, increasing our participation in Brasilagro, net of treasury shares, from 33.8% to 34.1%.
In February 2021, we sold 100% of Sociedad Anónima Carnes Pampeanas S.A., owner of a meatpacking facilities plant in La Pampa, Argentina, for the sum of USD 10 million.
In financial matters, during the quarter we issued 90 million shares for the sum of USD 42.5 million and after the end of the period, our subsidiary IRSA issued 80 million shares for the sum of USD 28.8 million.

Financial Highlights
(In millions of Argentine Pesos)
9M FY 2021 ended March 31, 2021

Income Statement	03/31/2021	03/31/2020
Agricultural Business Revenue	17,112	19,556
Agricultural Business Gross Profit	11,441	7,689
Urban Properties Revenues	7,209	13,927
Urban Properties Gross Profit	4,881	10,849
Consolidated Gross Profit	16,000	18,291
Consolidated Profit from Operations	2,530	17,016
(Loss) / Profit for the Period	(9,231)	(10,589)

Attributable to:
Cresud's Shareholders	(3,997)	(14,529)
Non-Controlling interest	(5,234)	3,940

EPS (Basic)	(7.56)	(29.53)
EPS (Diluted)	(7.56)	(29.53)

Balance Sheet	03/31/2021	06/30/2020
Current Assets	57,963	312,742
Non-Current Assets	242,043	617,189
Total Assets	300,006	929,931
Current Liabilities	76,326	234,007
Non-Current Liabilities	120,351	530,562
Total Liabilities	196,677	764,569
Non-Controlling Interest	67,379	131,302
Shareholders' Equity	103,329	165,362

Cresud, leading Argentinean agricultural company with a growing presence in Latin American countries, cordially invites you to participate in its third quarter of the FY 2021 Results Conference Call on Thursday, May 13, 2021, at 03:00 PM Eastern Time / 04:00 PM BA Time.

To access the Webinar:
https://irsacorp.zoom.us/j/83252953882?pwd=dWx2enlybC9oNVl5ZXBIYjlOdDNWQT09
Webinar ID: 832 5295 3882
Password: 621782

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

UK: +44 330 088 5830 or +44 131 460 1196 or +44 203 481 5237 or +44 203 481 5240 or +44 208 080 6591

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.