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 2022 ended March 31, 2022.
BUENOS AIRES, Argentina, May 13, 2022 /PRNewswire/ --
HIGHLIGHTS
- The net result for the 9-month period of fiscal year 2022 was a gain of ARS 31,657 million compared to a loss of ARS 14,318 million in the same period of 2021.
- Adjusted EBITDA for the period reached ARS 29,536 million. Agribusiness adjusted EBITDA reached ARS 18,276 million, 35.7% higher than the same period in 2021 due to better results from grains, sugar cane and farm sales.
- The 2022 campaign continued to develop with La Niña weather conditions, high international commodity prices and higher margins than the previous one, although with rising costs. We planted 255,000 ha in the region and expect a grain production of approximately 850,000 tons.
- During the 9-month period of FY 2022, our subsidiary Brasilagro sold a fraction of its Rio do Meio farm for BRL 130.1 million and completed the sale of a fraction of its Alto Taquarí farm for BRL 336.0 million.
- Regarding urban segment, in December 2021, the Shareholders' Meetings of IRSA and IRSA PC approved the merger by absorption between the companies, in which IRSA absorbs IRSA PC. The merger has an effective date of July 1, 2021, and the exchange of IRSA PC shares for IRSA shares will take place in the coming days. As a result of the merger, CRESUD stake in IRSA is reduced to 53.7%.
Financial Highlights
(In millions of Argentine Pesos)
9M FY 2022 ended March 31, 2022
Income Statement |
03/31/2022 |
03/31/2021 |
Agricultural Business Revenue |
38,045 |
26,542 |
Agricultural Business Gross Profit |
17,110 |
17,759 |
Urban Properties Revenues |
15,634 |
11,182 |
Urban Properties Gross Profit |
12,216 |
7,571 |
Consolidated Gross Profit |
28,864 |
24,817 |
Consolidated Profit from Operations |
10,352 |
2,897 |
Profit / (Loss) for the Period |
31,657 |
(14,318) |
Attributable to: |
||
Cresud's Shareholders |
19,592 |
(7,227) |
Non-Controlling interest |
12,065 |
(7,091) |
EPS (Basic) |
33.21 |
(11.72) |
EPS (Diluted) |
28.19 |
(11.72) |
Balance Sheet |
03/31/2022 |
06/30/2021 |
Current Assets |
88,813 |
97,830 |
Non-Current Assets |
341,877 |
376,315 |
Total Assets |
430,690 |
474,145 |
Current Liabilities |
77,760 |
98,453 |
Non-Current Liabilities |
192,492 |
227,659 |
Total Liabilities |
270,252 |
326,112 |
Non-Controlling Interest |
102,090 |
102,675 |
Shareholders' Equity |
160,438 |
148,033 |
Cresud, leading Argentinean agricultural company with a growing presence in Latin American countries, cordially invites you to participate in its third quarter of the Fiscal Year 2022 Results Conference Call to be held on Monday, May 16, 2022, at 10:00 AM Eastern Time / 11:00 AM BA Time.
To access the Webinar:
https://irsacorp.zoom.us/j/86321300856?pwd=Y090S3hHdFRURzdMQ3VoTzVXWm50Zz09
Webinar ID: 863 2130 0856
Password: 021308
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
Follow us on Twitter: @cresudir
SOURCE Cresud S.A.C.I.F. y A.
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