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 2022 ended December 31, 2021

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BUENOS AIRES, Argentina, Feb. 11, 2022 /PRNewswire/ — HIGHLIGHTS

  • The net result for the first half of fiscal year 2022 recorded a gain of ARS 38,030 million compared to ARS 4,924 million loss in the same period of 2021, mainly due to higher agricultural operating results and the gain from changes in fair value of investment properties from IRSA.



  • Adjusted EBITDA for the period reached ARS 15,829 million, 21.7% higher than in 2021. Adjusted EBITDA of the agribusiness segments reached ARS 12,098 million, due to higher results from grains, sugar cane and farmland sales.



  • The 2022 campaign is developing with La Niña weather conditions, high international commodity prices and higher margins than the previous one, although with rising costs. We planted approximately 256,000 ha in the region.



  • During the semester, our subsidiary Brasilagro sold a fraction of its Rio do Meio farm for BRL 130.1 million and completed the sale of a fraction of its Alto Taquarí farm for BRL 336.0 million.



  • Regarding urban segment, in December 2021, the Shareholders’ Meetings of IRSA and IRSA PC approved the merger by absorption between the companies, in which IRSA absorbs IRSA PC. The merger has an effective date of July 1, 2021, and the exchange of IRSA PC shares for IRSA shares will take place in the coming months. As a result of the merger, CRESUD stake in IRSA is reduced to 53.68%.

Financial Highlights

(In millions of Argentine Pesos)

6M FY 2022 ended December 31, 2021

Income Statement

12/31/2021

12/31/2020

Agricultural Business Revenue

25,047

17,977

Agricultural Business Gross Profit

7,900

5,983

Urban Properties Revenues

8,816

5,818

Urban Properties Gross Profit

6,947

3,671

Consolidated Gross Profit

14,643

8,665

Consolidated Profit from Operations

33,946

13,521

Profit / (Loss) for the Period

38,030

(4,924)




Attributable to:



Cresud’s Shareholders

21,207

(4,528)

Non-Controlling interest

16,823

(396)




EPS (Basic)

35.94

(9.07)

EPS (Diluted)

30.51

(9.07)




Balance Sheet

12/31/2021

06/30/2021

Current Assets

74,734

84,285

Non-Current Assets

333,605

324,215

Total Assets

408,339

408,500

Current Liabilities

61,383

84,820

Non-Current Liabilities

195,730

196,142

Total Liabilities

257,113

280,962

Non-Controlling Interest

95,811

88,460

Shareholders’ Equity

151,226

127,538

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 2022 Results Conference Call on Monday, February 14, 2022, at 12:00 PM Eastern Time / 02:00 PM BA Time.

To access the Webinar:

https://irsacorp.zoom.us/j/81712882109?pwd=dXdSTG43OFB1QjJzekdMRFVULzBMUT09 

Webinar ID: 817 1288 2109

Password: 149734

In addition, you can participate communicating to this numbers:

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

Israel: +972 55 330 1762 or +972 3 978 6688 

Brazil : +55 11 4700 9668 or +55 21 3958 7888 or +55 11 4632 2236 or +55 11 4632 2237

US: +1 346 248 7799 or +1 646 558 8656 or +1 669 900 9128 or +1 253 215 8782 or +1 301 715 8592

Chile: +56 232 938 848 or +56 41 256 0288 or +56 22 573 9304 or +56 22 573 9305 or +56 23 210 9066

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

ir@cresud.com.ar 

Follow us on Twitter: @cresudir

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

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