SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN ISSUER
PURSUANT
TO RULE 13a-16 OR 15b-16 OF
THE
SECURITIES EXCHANGE ACT OF 1934
For
the month of February,
2025
Cresud
Sociedad Anónima, Comercial,
Inmobiliaria,
Financiera y
Agropecuaria
(Exact name of Registrant as specified in its
charter)
Cresud Inc.
(Translation of registrant´s name into
English)
Republic
of Argentina
(Jurisdiction of incorporation or organization)
Carlos Della Paolera
261
(C1001ADA)
Buenos
Aires, Argentina
(Address of principal
executive offices)
Form 20-F ⌧ Form
40-F ☐
Indicate by
check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes o No
x
CRESUD
S.A.C.I.F. and A.
(THE
“COMPANY”)
REPORT
ON FORM 6-K
By letter dated February 10, 2025,
the
company reported that in compliance with Section 63 of the Regulations
issued by the Buenos Aires Stock Exchange, this is to report the
following information:
|
1. Results of the period (six-month period)
|
in million ARS
|
|
|
|
12/31/2024
|
12/31/2023
|
|
Results of the period (six-month period)
|
(64,391)
|
266,118
|
|
Attributable to:
|
|
|
|
Shareholders
of the controlling company
|
(61,541)
|
106,267
|
|
Non-controlling
interest
|
(2,850)
|
159,851
|
|
|
|
|
|
2. Other comprehensive income for the period (six-month
period)
|
in million ARS
|
|
|
|
12/31/2024
|
12/31/2023
|
|
Other comprehensive income for the period
(six-month period)
|
(85,133)
|
301,144
|
|
Attributable to:
|
|
|
|
Shareholders
of the controlling company
|
(30,620)
|
107,984
|
|
Non-controlling
interest
|
(54,513)
|
193,160
|
|
|
|
|
|
3. Total comprehensive income for the period (six-month
period)
|
in million ARS
|
|
|
|
12/31/2024
|
12/31/2023
|
|
Total comprehensive income for the period
(six-month period)
|
(149,524) |
567,262
|
|
Attributable to:
|
|
|
|
Shareholders
of the controlling company
|
(92,161)
|
214,251
|
|
Non-controlling
interest
|
(57,363)
|
353,011
|
|
|
|
|
|
4. Equity details
|
in million ARS
|
|
|
|
12/31/2024
|
12/31/2023
|
|
Share
Capital
|
596
|
588
|
|
Treasury
shares
|
7
|
6
|
|
Comprehensive
adjustment of capital stock and of treasury shares
|
246,995
|
246,862
|
|
Warrants
|
21,096
|
22,814
|
|
Share
Premium
|
371,303
|
311,317
|
|
Premium
for trading of treasury shares
|
(27,209)
|
(19,291)
|
|
Legal
Reserve
|
37,547
|
33,259
|
|
Special
Reserve (Resolution CNV 609/12)
|
227,030
|
159,469
|
|
Cost
of treasury share
|
(9,743)
|
(9,595)
|
|
Conversion
reserve
|
(39,564)
|
133,025
|
|
Reserve
for securities issued by the Company acquisition
|
2,377
|
2,377
|
|
Reserve for future
dividends
Other
reserves
|
-
641
|
71,430
22,606
|
|
Retained
earnings
|
(91,822)
|
59,299
|
|
Shareholders’ Equity attributable to controlling
company’s shareholders
|
739,254
|
1,034,166
|
|
Non-controlling
interest
|
920,622
|
1,453,749
|
|
Total shareholder's equity
|
1,659,876
|
2,487,915
|
The Company's
market capitalization as of December 31, 2024, was approximately
USD 761.8 million (60,314,043 ADS with a price per ADS of USD
12.63).
As of December 31, 2024, the Company’s principal shareholder
and beneficial owner is Eduardo Sergio Elsztain. Direct or
indirectly, through the vehicles Inversiones Financieras del
Sur S.A (IFISA) and Consultores Venture Capital Uruguay S.A.(CVCU),
owns 230,771,688 shares, accounting for 38.67% of the share capital
(net of treasury shares). Eduardo
Sergio Elsztain is domiciled at Bolivar 108, 1st floor, Buenos
Aires City Center, IFISA is a company incorporated and domiciled at
Calle 8, km 17,500, Edificio Zonamérica 1, local 106,
Montevideo, Uruguay and CVCU
is
a company incorporated and domiciled at Calle 8, km 17,500,
Edificio Zonamérica 1, local
106.
In addition, we report that as of December 31, 2024, after
deducting direct and indirect Eduardo Sergio Elsztain's interest
through IFISA and CVCU, and the treasury shares, the remaining
shareholders held 365,971,211 common, registered, non-endorsable
shares of ARS 1 par value each and entitled to one vote per share,
accounting for 61.33% of the issued and subscribed capital stock
(substracting treasury shares).
It should be
considered that in March 2021 the company increased its share
capital by 90 million shares. For each subscribed share, each
shareholder received at no additional cost 1 warrant, that is, 90
million warrants were issued. The warrants expire on March 10, 2026
and are listed on the Buenos Aires Stock Exchange under the symbol
“CRE3W” and on the NYSE under the symbol
“CRESW”. As of today, the number of warrants
outstanding is 81,063,170.
In the case that
all warrants were converted, the number of shares issued and
subscribed would increase to 717,236,847. We also inform that if
the group of control were to exercise its warrants like the rest of
the shareholders, its stake would increase by 49,456,876 ordinary
shares, which would mean a 39.42% stake on the share capital, that
is, 280,228,564 shares.
Below are the highlights for the six-month period
ended December 31, 2024:
●
The
net result for the first half of fiscal year 2025 registered a loss
of ARS 64,391 million. This result is mainly explained by the loss
due to changes in the fair value of IRSA investment
properties.
●
The
adjusted EBITDA for the period reached ARS 134,961 million, 15.3%
lower than the same period in 2024. The agribusiness adjusted
EBITDA was ARS 35,262 million and the Urban adjusted EBITDA
(through IRSA), ARS 103,136 million.
●
The
2025 campaign is developing with historically low commodity prices,
although a slight recovery was observed in the last quarter,
reduced input costs, and favorable weather conditions in the
region. We planted 303,000 hectares in the region, 9% more than the
previous season.
●
In
January 2025, the Argentine government announced a temporary
reduction in crops tax exports until June 30, 2025, lowering
soybean from 33% to 26% and wheat and corn from 12% to 9.5%. This
had a positive impact on spot and future crop prices of
approximately 5%.
●
During
the first half of fiscal year 2025, we sold a fraction of Los Pozos
farm in Argentina for USD 2.2 million and our subsidiary BrasilAgro
sold a fraction of its Alto Taquari farm for BRL 189.4
million.
●
On
November 2024, we distributed a cash dividend of ARS 45,000 million
(dividend yield ~7%).
SIGNATURES
Pursuant to the
requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized, in the city of
Buenos Aires, Argentina.
|
|
Cresud
Sociedad Anónima, Comercial, Inmobiliaria, Financiera y
Agropecuaria
|
||
|
|
|
||
|
|
By:
|
/S/ Saúl
Zang
|
|
|
|
|
Saúl
Zang
|
|
|
|
|
Responsible
for the Relationship with the Markets
|
|
February 10,
2025