CRESUD S.A.C.I.F. y A. announces its results for the third quarter of Fiscal Year 2023 ended March 31, 2023
HIGHLIGHTS
- The net result for the nine-month period of fiscal year 2023 showed a profit of
ARS 36,331 million compared to a profit ofARS 64,674 million registered in the same period of 2022. - Adjusted EBITDA for the nine-month period of 2023 reached
ARS 23,696 million , decreasing by49.2% compared to the same period in 2022. Agribusiness adjusted EBITDA wasARS 3,729 million , 89,3% lower than the same period in 2022, mainly explained by lower productive results from the grain activity inArgentina and sugarcane inBrazil and lower farmland sales. - The 2023 campaign is progressing with sustained commodity prices, strong costs pressure and adverse weather conditions in the region, mainly in
Argentina , where crop yields are being affected by one of the worst droughts in history. - During the quarter, our subsidiary Brasilagro sold the remaining 5,517 hectares of its Araucaria farm, located in the
State of Goiás, Brazil , forBRL 417.8 million . - Subsequently, we issued Series XLI and XLII notes in the local market for the sum of
USD 50 million , whose funds were used to cancel short term liabilities. - In May 2023, the Company distributed to its shareholders a cash dividend of
ARS 9,500 million , equivalent to ARS/share 16.52 and ARS/ADS 165.24. Likewise, it distributed 12,670,512 treasury shares, equivalent to2.20% of the capital stock.
Financial Highlights
(In millions of Argentine Pesos)
9M FY 2023 ended March 31, 2023
Income Statement | 03/31/2023 | 03/31/2022 |
Agricultural Business Revenue | 57,147 | 77,725 |
Agricultural Business Gross Profit | 8,762 | 34,957 |
Urban Properties Revenues | 43,529 | 31,939 |
Urban Properties Gross Profit | 35,723 | 24,958 |
Consolidated Gross Profit | 43,792 | 58,968 |
Consolidated Result from Operations | (18,080) | 20,729 |
Profit for the Period | 36,331 | 64,674 |
Attributable to: | ||
Cresud's Shareholders | 20,487 | 40,026 |
Non-Controlling interest | 15,844 | 24,648 |
EPS (Basic) | 35.14 | 67.84 |
EPS (Diluted) | 29.44 | 57.59 |
Balance Sheet | 03/31/2023 | 06/30/2022 |
Current Assets | 165,928 | 196,784 |
Non-Current Assets | 681,786 | 724,934 |
Total Assets | 847,714 | 921,718 |
Current Liabilities | 141,550 | 257,029 |
Non-Current Liabilities | 330,492 | 304,540 |
Total Liabilities | 472,042 | 561,569 |
Non-Controlling Interest | 215,343 | 216,807 |
Shareholders' Equity | 375,672 | 360,149 |
The Company's market capitalization as of March 31, 2023, was approximately
Cresud, leading Argentinean agricultural company with a growing presence in Latin American countries, cordially invites you to participate in its third quarter of the FY 2023 Results Conference Call on Friday, May 12, 2023, at 2:00 PM Eastern Time / 3:00 PM BA Time.
To access the Webinar:
https://irsacorp.zoom.us/webinar/register/WN_4omeGj8XRjSS_3tbMVZMjA
Webinar ID: 892 5575 8333
Password: 105697
In addition, you can participate communicating to this numbers:
Brasil: +55 21 3958 7888 or +55 11 4632 2236 or +55 11 4632 2237 or +55 11 4680 6788 or +55 11 4700 9668
Estados Unidos: +1 386 347 5053 or +1 507 473 4847 or +1 564 217 2000 or +1 646 558 8656 or +1 646 931 3860 or +1 669 444 9171 or +1 669 900 9128 or +1 689 278 1000 or +1 719 359 4580 or +1 253 205 0468 or +1 253 215 8782 or +1 301 715 8592 or +1 305 224 1968 or +1 309 205 3325 or +1 312 626 6799 or +1 346 248 7799 or +1 360 209 5623
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
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SOURCE Cresud S.A.C.I.F. y A.
