Cresud S.A.C.I.F. y A. (NASDAQ: CRESY, BYMA: CRES), leading Argentine agricultural company, announces today its results for the second quarter of FY 2022 ended December 31, 2021
BUENOS AIRES, Argentina, Feb. 11, 2022 /PRNewswire/ -- HIGHLIGHTS
- The net result for the first half of fiscal year 2022 recorded a gain of ARS 38,030 million compared to ARS 4,924 million loss in the same period of 2021, mainly due to higher agricultural operating results and the gain from changes in fair value of investment properties from IRSA.
- Adjusted EBITDA for the period reached ARS 15,829 million, 21.7% higher than in 2021. Adjusted EBITDA of the agribusiness segments reached ARS 12,098 million, due to higher results from grains, sugar cane and farmland sales.
- The 2022 campaign is developing with La Niña weather conditions, high international commodity prices and higher margins than the previous one, although with rising costs. We planted approximately 256,000 ha in the region.
- During the semester, 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 months. As a result of the merger, CRESUD stake in IRSA is reduced to 53.68%.
Financial Highlights
(In millions of Argentine Pesos)
6M FY 2022 ended December 31, 2021
Income Statement | 12/31/2021 | 12/31/2020 |
Agricultural Business Revenue | 25,047 | 17,977 |
Agricultural Business Gross Profit | 7,900 | 5,983 |
Urban Properties Revenues | 8,816 | 5,818 |
Urban Properties Gross Profit | 6,947 | 3,671 |
Consolidated Gross Profit | 14,643 | 8,665 |
Consolidated Profit from Operations | 33,946 | 13,521 |
Profit / (Loss) for the Period | 38,030 | (4,924) |
Attributable to: | ||
Cresud's Shareholders | 21,207 | (4,528) |
Non-Controlling interest | 16,823 | (396) |
EPS (Basic) | 35.94 | (9.07) |
EPS (Diluted) | 30.51 | (9.07) |
Balance Sheet | 12/31/2021 | 06/30/2021 |
Current Assets | 74,734 | 84,285 |
Non-Current Assets | 333,605 | 324,215 |
Total Assets | 408,339 | 408,500 |
Current Liabilities | 61,383 | 84,820 |
Non-Current Liabilities | 195,730 | 196,142 |
Total Liabilities | 257,113 | 280,962 |
Non-Controlling Interest | 95,811 | 88,460 |
Shareholders' Equity | 151,226 | 127,538 |
Cresud, leading Argentinean agricultural company with a growing presence in Latin American countries, cordially invites you to participate in its second quarter of the FY 2022 Results Conference Call on Monday, February 14, 2022, at 12:00 PM Eastern Time / 02:00 PM BA Time.
To access the Webinar:
https://irsacorp.zoom.us/j/81712882109?pwd=dXdSTG43OFB1QjJzekdMRFVULzBMUT09
Webinar ID: 817 1288 2109
Password: 149734
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
View original content:SOURCE Cresud S.A.C.I.F. y A.
