Cresud S.A.C.I.F. y A announces results for the six-month period of FY 2020 ended December 31, 2019
BUENOS AIRES, Argentina, Feb. 11, 2020 /PRNewswire/ -- Cresud S.A.C.I.F. y A. (NASDAQ: CRESY, BYMA: CRES), leading Argentine agricultural company, today announces results for the six-month period of FY 2020 ended December 31, 2019.
HIGHLIGHTS
- Net result for the first half of fiscal year 2020 recorded a gain of ARS 1,673 million compared to a loss of ARS 8,627 million in the same period of fiscal year 2019 mainly explained by higher results from changes in the fair value of investment properties in the Argentine business center and the result from the deconsolidation of Gav- Yam, due to the loss of control, in the Israel business center through IRSA, offset among other effects, by the loss from exchange rate differences in Argentina.
- Net result attributable to the controlling shareholder registered a loss of ARS 4,746 million compared to a loss of ARS 6,027 million in the first half of 2019.
- Adjusted EBITDA for the period reached ARS 14,227 million, of which ARS 2,601 million come from the agricultural business due to higher productive results of sugarcane activity offset by lower results from farmland sales and ARS 11,626 million come from the urban properties and investments business (IRSA).
- A 2020 campaign with good weather conditions is projected in the region in which we expect to plant approximately 269,000 ha.
- On November 14, the company has distributed among its shareholders 13,000,000 treasury shares, representing 2.6% of the share capital.
- As a subsequent event, our subsidiary Brasilagro has concluded the merge transaction with Agrifirma, adding 28,930 hectares to its portfolio.
Financial Highlights
(In millions of Argentine Pesos)
6M FY 2020 ended December 31, 2019
Income Statement | 12/31/2019 | 12/31/2018 |
Agricultural Business Revenue | 12,821 | 8,403 |
Agricultural Business Gross Profit | 3,506 | 2,004 |
Urban Properties Revenues | 41,298 | 28,020 |
Urban Properties Gross Profit | 16,422 | 15,041 |
Consolidated Gross Profit | 19,797 | 16,931 |
Consolidated Profit from Operations | 8,951 | -2,329 |
Profit / (Loss) For the Period | 1,673 | -8,627 |
Attributable to: | ||
Cresud's Shareholders | -4,746 | -6,027 |
Non-Controlling interest | 6,419 | -2,600 |
EPS (Basic) | -9.69 | -12.40 |
EPS (Diluted) | -9.69 | -12.40 |
Balance Sheet | 12/31/2019 | 06/30/2019 |
Current Assets | 193,970 | 192,579 |
Non-Current Assets | 354,597 | 446,572 |
Total Assets | 548,567 | 639,151 |
Current Liabilities | 132,795 | 112,737 |
Non-Current Liabilities | 332,132 | 414,434 |
Total Liabilities | 464,927 | 527,171 |
Non-Controlling Interest | 68,689 | 90,817 |
Shareholders' Equity | 83,640 | 111,980 |
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 2020 Results Conference Call on Wednesday, February 12, 2020, at 10:00 AM Eastern Time / 12:00 PM BA Time.
If you would like to participate, please call:
United States: 1-844-686-3840
International: 1-412-317-6377
ID# CRESUD
To access the webcast, click on the link below:
http://webcastlite.mziq.com/cover.html?webcastId=60566103-4c67-48bc-8da2-fbe4c63b5c31
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.
