CRESUD S.A.C.I.F. y A. announces its results for the second quarter of Fiscal Year 2024 ended December 31, 2023

BUENOS AIRES, Argentina, Feb. 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 second quarter of FY 2024 ended December 31, 2023.

HIGHLIGHTS

• The net result for the first semester of fiscal year 2024 recorded a gain of ARS 122,205 million compared to ARS 59,907 million in the same period of 2023, mainly due to the gain from changes in the fair value of IRSA's investment properties. The gain attributable to the controlling shareholder was ARS 48,800 million, compared to ARS 32,929 million in the same period of 2023.
• The adjusted EBITDA for the period reached ARS 79,677 million, 45.1% higher than the same period in 2023. The adjusted EBITDA of the agricultural segments was ARS 23,857 million, 39.3% higher than 2023, mainly due to higher farmland sales.
• The 2024 campaign is being developed with better weather conditions in the region, mainly in Argentina, and correction of international commodity prices. We hope to plant approximately 282,000 hectares, in line with the 2023 campaign.
• During the semester, in October 2023, we sold a fraction of 4,262 hectares of reserve with productive potential of "Los Pozos" farm, in the province of Salta, Argentina, for USD 2.3 million and in December 2023, we sold a fraction of 500 hectares of agricultural activity of "El Tigre" farm, in the province of La Pampa, Argentina, for USD 3.75 million.
• In February 2024, the process of distributing the dividend in cash and in kind, in IRSA shares, and the treasury shares in the portfolio, approved by the Shareholders' Meeting on October 5, 2023, to ADS holders, which was pending, was concluded.

Financial Highlights

(In millions of Argentine Pesos)

6M FY 2024 ended December 31, 2023

The Company's market capitalization as of December 31, 2023, was approximately USD 563.3 million. (59,417,495 ADS with a price per ADS of USD 9.48)

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 2024 Results Conference Call on Friday, February 9, 2024, at 8:00 AM Eastern Time / 10:00 AM BA Time.

To access the Webinar:

https://zoom.us/webinar/register/WN_86jhmMlRTIeoGIYmuSTGTw

Webinar ID: 999 2694 2779

Password: 202347

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

[email protected]

Follow us on Twitter: @cresudir

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SOURCE Cresud S.A.C.I.F. y A.