In This Article:
BUENOS AIRES, Argentina, Sept. 5, 2024 /PRNewswire/ -- CRESUD S.A.C.I.F. y A. (NASDAQ:CRESY, ByMA:CRES), leading Latin American agricultural company, announces today its results for the Fiscal Year 2024 ended June 30, 2024.
HIGHLIGHTS
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The net result for fiscal year 2024 recorded a gain of ARS 104,129 million compared to a gain of ARS 279,709 million in 2023.
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The company's adjusted EBITDA reached ARS 256,396 million in fiscal year 2024, ARS 80,066 million from the agricultural business and ARS 176,330 million from the urban properties and investments business, increasing 23.5% compared to fiscal year 2023.
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We concluded a campaign with productive challenges in the region and lower commodity prices. We planted 277,000 hectares in the region producing 707,000 tons of grains, 7% below last season due to lack of rains in the north of Argentina and in the areas where Brasilagro produces, impacting our yields.
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Livestock activity, focused on own farms in the Northwest of Argentina and Brazil, closed the year with high levels of meat production and very good results due to a significant improvement in prices in Argentina.
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During the year we sold 3 fractions of farms in the region for a total amount of USD 75 million, generating a profit of approximately USD 48 million.
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During the year, we distributed cash dividends for a total amount of ARS 52,000 million and in IRSA shares for 22.1 million, in addition to treasury shares distributed for approximately 1% of the stock capital.
| Financial Highlights | ||
| (In millions of Argentine Pesos) | ||
| FY 2024 ended June 30, 2024 | ||
| Income Statement | 06/30/2024 | 06/30/2023 |
| Agricultural Business Revenue | 384,487 | 378,132 |
| Agricultural Business Gross Profit | 73,324 | 49,272 |
| Urban Properties Revenues | 270,550 | 268,627 |
| Urban Properties Gross Profit | 221,659 | 219,262 |
| Consolidated Gross Profit | 291,553 | 264,792 |
| Consolidated Result from Operations | -122,487 | -92,287 |
| Result for the Period | 104,729 | 279,709 |
| | | |
| Attributable to: | | |
| Cresud's Shareholders | 84,576 | 156,874 |
| Non-Controlling interest | 20,153 | 122,835 |
| | | |
| EPS (Basic) | 142.77 | 260.59 |
| EPS (Diluted) | 120.52 | 229.01 |
| | | |
| Balance Sheet | 06/30/2024 | 06/30/2023 |
| Current Assets | 706,400 | 798,558 |
| Non-Current Assets | 2,766,711 | 3,174,406 |
| Total Assets | 3,473,111 | 3,972,964 |
| Current Liabilities | 657,605 | 741,090 |
| Non-Current Liabilities | 1,251,596 | 1,448,046 |
| Total Liabilities | 1,909,201 | 2,189,136 |
| Non-Controlling Interest | 867,667 | 1,010,945 |
| Shareholders' Equity | 1,563,910 | 1,783,828 |
CRESUD, leading Argentinean agricultural company with a growing presence in Latin American countries, cordially invites you to participate in its Fiscal Year 2024 Results Conference Call on Monday, September 9, 2024, at 9:00 AM Eastern Time / 10:00 AM BA Time.