Cresud CRESY

BUENOS AIRES, Argentina, Nov. 11, 2022 /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 2023 ended September 30, 2022.

HIGHLIGHTS

• The net result for the first quarter of fiscal year 2023 registered a profit of ARS 5,233 million compared to ARS 5,195 million in the same period of 2022.

• The adjusted EBITDA for the period reached ARS 7,955 million, 14.3% lower than the same period in 2022. The adjusted EBITDA of the agribusiness segments was ARS 2,808 million, 57.3% lower than the first quarter of the previous year, mainly explained by lower production results from the sugarcane activity in Brazil.

• The 2023 campaign is developing with sustained international commodity prices and good margins per hectare, despite the increase in costs and the Niña climate effect in the region. We expect to plant approximately 260,000 ha.

• During the quarter, our subsidiary Brasilagro acquired the Panamby farm of 10,800 hectares (5,400 productive hectares), located in the state of Mato Grosso, Brazil, for the sum of BRL 285.6 million and, after closing, completed the sale of a fraction of its Morotí field in Paraguay for the sum of USD 1.5 million.

• During the period, we finalized the stock repurchase plan launched in the previous year. The company acquired 0.96% of the capital stock for the sum of ARS 990 million.

• Since November 11, 2022, the Company made available to shareholders a cash dividend in the amount of ARS 3,100 million, equivalent to ARS 5.29/share and ARS/ADS 52.86.

 

Financial Highlights
(In millions of Argentine Pesos)
3M FY 2023 ended September 30, 2022

 

The Company's market capitalization as of September 30, 2022, was approximately USD 324 million. (59,216,513 ADS with a price per ADS of USD 5.47)

Cresud, leading Argentinean agricultural company with a growing presence in Latin American countries, cordially invites you to participate in its first quarter of the FY 2023 Results Conference Call on Monday, November 14, 2022, at 10:00 AM Eastern Time / 12:00 PM BA Time.

To access the Webinar:
https://irsacorp.zoom.us/webinar/register/WN_liFlPLiVRBqH7SOa9zmr3Q
Webinar ID: 848 6010 3067
Password: 981915

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.