Cresud SA - CRESY STOCK NEWS

CRESUD S.A.C.I.F. y A. (NASDAQ:CRESY, ByMA:CRES), a leading Latin American agricultural company, has announced its results for Fiscal Year 2024 ended June 30, 2024. The company reported a net gain of ARS 104,129 million, down from ARS 279,709 million in 2023. Adjusted EBITDA reached ARS 256,396 million, increasing 23.5% compared to the previous year. Despite productive challenges and lower commodity prices, CRESUD planted 277,000 hectares, producing 707,000 tons of grains. The company's livestock activity showed strong performance with high meat production and improved prices in Argentina. CRESUD also sold farm fractions for USD 75 million, generating a profit of USD 48 million. The company distributed cash dividends totaling ARS 52,000 million and IRSA shares worth 22.1 million.

CRESUD S.A.C.I.F. y A. reported a net loss of ARS 25,646 million for the 9-month period ending March 31, 2024, due to inflation impact on investment properties. However, the adjusted EBITDA increased by 61.4% compared to 2023. The company approved a cash dividend of ARS 30,000 million. Brasilagro sold a fraction of its establishment, generating BRL 365.4 million in gains. The business outlook for 2024 includes better prospects in Argentina's agribusiness.

Cresud S.A.C.I.F. y A. announces strong financial results for the second quarter of fiscal year 2024, with a net result of ARS 122,205 million, a 45.1% increase in adjusted EBITDA, and a 39.3% increase in agricultural segment EBITDA. The company also reported better weather conditions in the region, higher farmland sales, and a positive outlook for the 2024 campaign.

Cresud S.A.C.I.F. y A. (NASDAQ: CRESY, BYMA: CRES) announces its first quarter FY 2024 results, reporting a significant increase in net result and adjusted EBITDA, improved weather conditions for the 2024 campaign, and the approval of a cash dividend and in-kind distribution of IRSA shares.

Cresud S.A.C.I.F. y A. distributes dividend in Argentina but faces restrictions for ADS holders

Cresud announces FY 2023 results with a profit of ARS 75,287 million, down 44.6% from the previous year. Operating result decreased by 83.2% due to lower productive results. Sold 4 fractions of farms for USD 122 million. Acquired 'Los Sauces' farm for USD 4.5 million. Issued debt for USD 196.3 million. Shareholders' Meeting called to distribute dividend of up to ARS 22,000 million in cash and 24,334,124 IRSA shares. Financial highlights show decrease in gross profit and profit from operations.

Cresud S.A.C.I.F. y A (NASDAQ: CRESY) reported its FY 2023 Q2 results, marking a significant decline in performance. The company posted a profit of ARS 19,237 million, down from ARS 74,081 million in the same period last year. Adjusted EBITDA also fell 40.3% to ARS 17,579 million, primarily due to lower productivity in sugarcane activities and reduced farmland sales in Brazil. Agricultural revenues dropped to ARS 36,905 million from ARS 48,794 million, while gross profit for the agricultural business decreased to ARS 5,584 million from ARS 15,393 million. The ongoing drought in Argentina continues to pose challenges.

IRSA Inversiones y Representaciones S.A. (NYSE: IRS), a leading real estate firm in Argentina, reported its financial results for the second quarter of FY 2023 ending December 31, 2022. The company recorded a net profit of ARS 15,436 million, down from ARS 49,712 million in the prior year. Rental adjusted EBITDA rose 47.5% to ARS 15,471 million, driven by strong performance in shopping malls and hotels. Tenant sales in malls increased by 22.2%. The occupancy rates for shopping malls, office portfolios, and hotels improved to 93.9%, 83.8%, and 71.4%, respectively. Despite these gains, a fair value adjustment resulted in a loss of ARS 29,530 million, raising concerns about asset valuations.