CRESUD S.A.C.I.F. y A. announces its results for the first quarter of Fiscal Year 2025 ended September 30, 2024

Rhea-AI Summary

Cresud reported financial results for Q1 FY2025, showing a net loss of ARS 72,374 million, representing a 129.7% decline compared to the same period in 2024. The adjusted EBITDA reached ARS 73,977 million, up 68.0% year-over-year. The company plans to plant approximately 303,000 hectares, a 9% increase from the 2024 campaign. Notable transactions include the sale of Los Pozos farm for USD 2.2 million and Brasilagro's sale of Alto Taquari farm for BRL 189.4 million. A cash dividend of ARS 45,000 million was approved, yielding approximately 7%.

Positive

• Adjusted EBITDA increased 68.0% to ARS 73,977 million
• Planned 9% increase in planted hectares for 2025 campaign
• Asset sales: Los Pozos farm (USD 2.2M) and Alto Taquari farm (BRL 189.4M)
• Approved cash dividend with ~7% yield

Negative

• Net loss of ARS 72,374 million, down 129.7% YoY
• Agricultural Business Gross Profit decreased from ARS 12,373M to ARS 8,671M
• Urban Properties Revenue declined from ARS 78,185M to ARS 72,495M
• Consolidated Gross Profit dropped from ARS 76,809M to ARS 65,999M

BUENOS AIRES, Argentina, Nov. 8, 2024 /PRNewswire/ -- Cresud S.A.C.I.F. y A. (NASDAQ: CRESY, BYMA: CRES), leading Argentine agricultural company, announces today its results for the first quarter of FY 2025 ended September 30, 2024.

HIGHLIGHTS

• The net result for the first quarter of fiscal year 2025 registered a loss of ARS 72,374 million, 129.7% lower than the one registered in the same period of 2024. This lower result is mainly explained by the loss due to changes in the fair value of IRSA investment properties.
  
  
• The adjusted EBITDA for the period reached ARS 73,977 million, 68.0% higher than the same period in 2024. The agribusiness adjusted EBITDA was ARS 27,919 million and the Urban adjusted EBITDA (through IRSA), ARS 47,290 million.
  
  
• The 2025 campaign is being developed with good weather conditions in the region, stable commodity prices and costs that are beginning to correct although they remain high compared to prices. We hope to plant approximately 303,000 hectares, 9% more than in the 2024 campaign.
  
  
• During the quarter, we sold a fraction of Los Pozos farm in Argentina for USD 2.2 million and our subsidiary Brasilagro sold a fraction of its Alto Taquari farm for BRL 189.4 million.
  
  
• On October 28, 2024, the Shareholders' Meeting approved the distribution of a cash dividend of ARS 45,000 million (dividend yield ~7%).

 

Financial Highlights
(In millions of Argentine Pesos)
3M FY 2025 ended September 30, 2024
Income Statement	09/30/2024	09/30/2023
Agricultural Business Revenue	136,955	113,392
Agricultural Business Gross Profit	8,671	12,373
Urban Properties Revenues	72,495	78,185
Urban Properties Gross Profit	57,846	64,768
Consolidated Gross Profit	65,999	76,809
Consolidated results from Operations	(172,626)	359,771
Profit for the Period	(72,374)	244,016
Attributable to:
Cresud's Shareholders	(39,562)	126,011
Non-Controlling interest	(32,812)	118,005
EPS (Basic)	(66.54)	212.94
EPS (Diluted)	(66.54)	181.95
Balance Sheet	09/30/2024	06/30/2024
Current Assets	804,851	792,094
Non-Current Assets	2,894,590	3,102,338
Total Assets	3,699,441	3,894,432
Current Liabilities	736,545	737,378
Non-Current Liabilities	1,302,932	1,403,427
Total Liabilities	2,039,477	2,140,805
Non-Controlling Interest	913,238	972,923
Shareholders' Equity	1,659,964	1,753,627

The Company's market capitalization as of September 30, 2024, was approximately USD 512.7 million. (59,863,914 ADS with a price per ADS of USD 8.64)

Cresud, leading Argentinean agricultural company with a growing presence in Latin American countries, cordially invites you to participate in its first quarter of the FY 2025 Results Conference Call on Thursday, November 11, 2024, at 9:00 AM Eastern Time / 11:00 AM BA Time.

To access the Webinar:
https://zoom.us/webinar/register/WN_svGVbgp5QxyBOy6KqCAFbQ#/

Webinar ID: 925 3748 3606
Password: 235934

In addition, you can participate communicating to this numbers:

Argentina: +54 115 983 6950 or +54 341 512 2188 or +54 343 414 5986 or +54 112 040 0447

Israel: +972 3 978 6688 or +972 2 376 4509 or +972 2 376 4510

Brazil: +55 21 3958 7888 or +55 11 4632 2236 or +55 11 4632 2237 or +55 11 4680 6788 or +55 11 4700 9668

US: +1 719 359 4580 or +1 929 205 6099 or +1 253 205 0468 or +1 253 215 8782 or +1 301 715 8592

Chile: +56 41 256 0288 or +56 22 573 9304 or +56 22 573 9305 or +56 23 210 9066 or +56 232 938 848

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.

FAQ

What was Cresud's (CRESY) net loss in Q1 FY2025?

Cresud reported a net loss of ARS 72,374 million in Q1 FY2025, which was 129.7% lower than the same period in 2024.

How much was Cresud's (CRESY) adjusted EBITDA for Q1 FY2025?

Cresud's adjusted EBITDA for Q1 FY2025 reached ARS 73,977 million, representing a 68.0% increase compared to the same period in 2024.

What is Cresud's (CRESY) planned hectare expansion for the 2025 campaign?

Cresud plans to plant approximately 303,000 hectares for the 2025 campaign, which represents a 9% increase compared to the 2024 campaign.

What dividend did Cresud (CRESY) approve in October 2024?

On October 28, 2024, Cresud approved a cash dividend distribution of ARS 45,000 million, representing approximately 7% dividend yield.