Cresud CRESY

BUENOS AIRES, Argentina, Sept. 6, 2021 /PRNewswire/ --

HIGHLIGHTS

• We concluded a record regional agricultural campaign, motivated by an active demand for grains, very good commodity prices, mixed weather conditions and a more dynamic real estate market. We planted 260,000 hectares and reached a production of 844,000 tons of grains.
  
  
• Agribusiness adjusted EBITDA reached ARS 13,613 million in 2021, 33% higher than in fiscal year 2020. The urban properties and investments business, which we own through IRSA, registered a rental adjusted EBITDA of ARS 4,215 million, 55% lower than 2020 due to the impact of the closure of operations of shopping malls and hotels due to the pandemic. The total adjusted EBITDA of the urban segment, which includes the investment property sales carried out, reached ARS 13,925 million, increasing 51%.
  
  
• The net result for fiscal year 2021 showed a loss of ARS 24,503 million mainly explained by the impact of the change in the rate, from 25% to 35%, in the deferred income tax and the loss recorded by discontinued operations.
  
  
• During the fiscal year, we sold a fraction of San Pedro farm in Argentina for USD 8.6 million, our lands in Bolivia for an amount of USD 31 million and our subsidiary BrasilAgro sold a fraction of Jatobá farm for BRL 67.1 million. Additionally, we sold 100% of Carnes Pampeanas S.A., owner of a meatpacking facilities plant in La Pampa (Argentina), for USD 10 million.
  
  
• Our investment in BrasilAgro generated excellent operating results this year. In February 2021, it made a capital increase for BRL 440 million shares. Cresud subscribed shares in the capitalization, sold a small stake in the market and exercised its warrants, increasing its stake in BrasilAgro, net of treasury, to 39.4% of the share capital.
  
  
• In financial matters, we successfully completed the exchange of the Series XIV notes for USD 73.6 million within the framework of the Argentinean Central Bank Resolution, we obtained financing for USD 95.7 million during the year and subsequently we issued USD 18.8 million, lowering the Company's average financing cost. We increased the capital for approximately USD 42.6 million and we subscribed shares in the capital increases of our subsidiaries IRSA and BrasilAgro, exercising our preemptive rights.

Cresud, leading Argentinean agricultural company with a growing presence in Latin American countries, cordially invites you to participate in its Fiscal Year 2021 Results Conference Call on Thursday, September 9, 2021, at 01:00 PM Eastern Time / 02:00 PM BA Time.

To access the Webinar:
https://irsacorp.zoom.us/j/85430686786?pwd=d0U3QnAwZzREOEZ4OEp3WTd2QjczQT09 
Webinar ID: 854 3068 6786
Password: 263914

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
ir@cresud.com.ar

Follow us on Twitter: @cresudir

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