CRESUD SACIFyA announces its results for the second quarter of Fiscal Year 2023 ended December 31, 2022

BUENOS AIRES, Argentina, Feb. 10, 2023 /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 2023 ended December 31, 2022.

HIGHLIGHTS

• The net result for the first half of fiscal year 2023 showed a gain of ARS 19,237 million compared to a gain of ARS 74,081 million registered in the same period of 2022.
• Adjusted EBITDA for the first half of 2023 reached ARS 17,579 million, decreasing by 40.3% compared to the same period in 2022. Agribusiness adjusted EBITDA was ARS 4,754 million, 78.5% lower than the same period of 2022, mainly explained by lower productive results from the sugarcane activity in Brazil and lower farmland sales.
• The 2023 campaign is progressing with mixed conditions, sustained commodity prices, rising costs and climatic challenges in Argentina, where crop yields are being affected by a severe drought.
• During the quarter, our subsidiary Brasilagro sold a fraction of 1,965 hectares of its Rio Do Meio farm, in the State of Bahia, Brazil, for the sum of BRL 62.4 million and a fraction of 863 hectares of the "Morotí" farm located in the State of Boquerón, Paraguay, for an amount of USD 1.5 million.
• During the period, we continued with the share's buyback program, reaching approximately 1% of the share capital and increased our stake in IRSA. CRESUD' s direct and indirect holding in IRSA amounts to 56.7% to date.
• In November 2022, the Company made available to shareholders a cash dividend in the amount of ARS 3,100 million, equivalent to ARS/share 5.29 and ARS/ADS 52.86.

Financial Highlights

(In millions of Argentine Pesos)

6M FY 2023 ended December 31, 2022

The Company's market capitalization as of December 31, 2022, was approximately USD 396 million. (59,217,257 ADS with a price per ADS of USD 6.69)

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 2023 Results Conference Call on Tuesday, February 14, 2023, at 10:00 AM Eastern Time / 12:00 PM BA Time.

To access the Webinar:

https://irsacorp.zoom.us/webinar/register/WN_dWGbz9GMScqh1q4YhqS71Q 

Webinar ID: 895 0262 1386

Password: 001102

In addition, you can participate communicating to this numbers:

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

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

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

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

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.