CRESUD S.A.C.I.F. y A. announces its results for the first quarter of Fiscal Year 2025 ended September 30, 2024

BUENOS AIRES, Argentina, Nov. 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 first quarter of FY 2025 ended September 30, 2024.

HIGHLIGHTS

The net result for the first quarter of fiscal year 2025 registered a loss of ARS 72,374 million, 129.7% lower than the one registered in the same period of 2024. This lower 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 73,977 million, 68.0% higher than the same period in 2024. The agribusiness adjusted EBITDA was ARS 27,919 million and the Urban adjusted EBITDA (through IRSA), ARS 47,290 million.

The 2025 campaign is being developed with good weather conditions in the region, stable commodity prices and costs that are beginning to correct although they remain high compared to prices. We hope to plant approximately 303,000 hectares, 9% more than in the 2024 campaign.

During the quarter, 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 October 28, 2024, the Shareholders' Meeting approved the distribution of a cash dividend of ARS 45,000 million (dividend yield ~7%).

 

Financial Highlights

(In millions of Argentine Pesos)

3M FY 2025 ended September 30, 2024

Income Statement

09/30/2024

09/30/2023

Agricultural Business Revenue

136,955

113,392