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

BUENOS AIRES, Argentina, May 10, 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 third quarter of FY 2024 ended March 31, 2024.

HIGHLIGHTS

• The net result for the nine-month period of fiscal year 2024 recorded a loss of ARS 25,646 million compared to a profit of ARS 140,918 million in the same period of 2023 due to the impact of exposure to inflation on the fair value of investment properties of IRSA. The result attributable to the controlling shareholder was a profit of ARS 22,340 million.
• The adjusted EBITDA for the period reached ARS 164,332 million, 61.4% higher than the same period in 2023. Agribusiness adjusted EBITDA reached ARS 45,504 million because of better productive results and farmland sales in Argentina.
• The 2024 regional campaign is being developed with a slightly lower planted area than the last campaign, mixed climatic conditions, lower international commodity prices and expected production levels in line, with better prospects in Argentina than in the rest of the region.
• During the third quarter, Brasilagro sold a fraction of 12,335 hectares (8,796 productive) of its Chaparral establishment for the sum of BRL 365.4 million. The gain will be recognized in the financial statements of the fourth quarter of FY 2024.
• In May 2024, we approved a new cash dividend for ARS 30,000 million (ARS/share 50.5482 and ARS/GDS 505.4820), which will be distributed since May 14th.

Financial Highlights

(In millions of Argentine Pesos)

9M FY 2024 ended March 31, 2024

The Company's market capitalization as of March 31, 2024, was approximately USD 530.7 million. (59,430,440 ADS with a price per ADS of USD 8.93)

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 2024 Results Conference Call on Monday, May 13, 2024, at 2:00 PM Eastern Time / 3:00 PM BA Time.

To access the Webinar:

https://zoom.us/webinar/register/WN_lzE9fnStSnGQ4A6zwe9uyg 

Webinar ID: 925 0329 2206

Password: 263201

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.