Denomination: Cresud Sociedad
Anónima, Comercial, Inmobiliaria, Financiera y
Agropecuaria
|
||
|
||
Fiscal year N°: 90,
beginning on July 1, 2022
|
||
|
||
Legal address: Carlos Della
Paolera 261, 9rd floor – Autonomous City of Buenos Aires,
Argentina
|
||
|
||
Company activity: Real estate,
agricultural, commercial and financial
activities
|
||
|
||
Date of registration of the by-laws in the Public Registry of
Commerce: February 19,
1937
|
||
|
||
Date of registration of last amendment of the by-laws in the Public
Registry of Commerce: Ordinary
and Extraordinary General Assembly of October 29, 2018 registered
in the General Inspection of Justice on January 8, 2019 under
Number 541 of Book 93 T- of Stock Companies.
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||
|
||
Expiration of Company charter: June 6, 2082
|
||
|
||
Registration number with the Supervisory Board of Companies:
26, folio 2, book 45, Stock
Companies
|
||
|
||
Stock: 592,172,576 common
shares (***).
|
||
|
||
Common stock subscribed, issued and paid up nominal value (millions
of ARS): 593
|
||
|
||
Control Group: Eduardo S.
Elsztain directly and through Inversiones Financieras del Sur S.A.,
Agroinvestment S.A. and Consultores Venture Capital Uruguay
S.A.
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||
|
||
Legal addresses: Bolívar
108, 1st floor, Autonomous City of Buenos Aires, Argentina (Eduardo
S. Elsztain) - Road 8, km 17,500, Zonamérica Building 1, store
106, Montevideo, Uruguay (IFISA) - Cambara 1620, 2nd floor, office
202, Carrasco, 11000 Montevideo, Uruguay (Agroinvesment
S.A.)
|
||
|
||
Parent companies' activity:
Investment
|
||
|
||
Direct and indirect participation of the Control Group over the
capital: 223,591,918
shares
|
||
|
||
Voting stock (direct and indirect equity interest):
39.00% (*)
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||
|
|
CAPITAL STATUS
|
|
Type of stock
|
Authorized to be offered publicly (Shares)
|
Subscribed, Issued and Paid-in (millions of ARS)
|
Ordinary
certified shares of ARS 1 face value and 1 vote each
|
593,354,866(**)
|
593
|
|
||
|
||
(*) For computation purposes, treasury shares have been
subtracted.
|
||
(**) Company not included in the Optional Statutory System of
Public Offer of Compulsory Acquisition.
|
Glossary of terms
|
1
|
Unaudited Condensed Interim Consolidated Statements of Financial
Position
|
2
|
Unaudited Condensed Interim Consolidated Statements of Income and
Other Comprehensive Income
|
3
|
Unaudited Condensed Interim Consolidated Statements of Changes in
Shareholders' Equity
|
4
|
Unaudited Condensed Interim Consolidated Statements of Cash
Flows
|
6
|
Notes to the Unaudited Condensed Interim Consolidated Financial
Statements:
|
|
Note
1 - The Group's business and general information
|
7
|
Note
2 - Summary of significant accounting policies
|
7
|
Note
3 - Seasonal effects on operations
|
8
|
Note
4 - Acquisitions and disposals
|
9
|
Note
5 - Financial risk management and fair value estimates
|
11
|
Note
6 - Segment information
|
11
|
Note
7 - Investments in associates and joint ventures
|
16
|
Note
8 - Investment properties
|
16
|
Note
9 - Property, plant and equipment
|
18
|
Note
10 - Trading properties
|
18
|
Note
11 - Intangible assets
|
19
|
Note
12 - Right-of-use assets
|
19
|
Note
13 - Biological assets
|
20
|
Note
14 - Inventories
|
21
|
Note
15 - Financial instruments by category
|
21
|
Note
16 - Trade and other receivables
|
23
|
Note
17 - Cash flow and cash equivalents information
|
24
|
Note
18 - Trade and other payables
|
25
|
Note
19 - Provisions
|
25
|
Note
20 - Borrowings
|
26
|
Note
21 - Taxation
|
28
|
Note
22 - Revenues
|
30
|
Note
23 - Costs
|
31
|
Note
24 - Expenses by nature
|
31
|
Note
25 - Other operating results, net
|
31
|
Note
26 - Financial results, net
|
32
|
Note
27 - Related parties transactions
|
32
|
Note
28 - CNV General Resolution N° 622
|
34
|
Note
29 - Cost of sales and services provided
|
34
|
Note
30 - Foreign currency assets and liabilities
|
35
|
Note
31 - Result from discontinued operations
|
36
|
Note
32 - Subsequent Events
|
38
|
|
|
Terms
|
|
Definitions
|
BACS
|
|
Banco de Crédito y Securitización S.A.
|
BCRA
|
|
Central Bank of the Argentine Republic
|
BHSA
|
|
Banco Hipotecario S.A.
|
Brasilagro
|
|
Brasilagro-Companhia Brasileira de Propriedades
Agrícolas
|
CAMSA
|
|
Consultores Assets Management S.A.
|
CNV
|
|
National Securities Commission
|
Condor
|
|
Condor Hospitality Trust Inc.
|
Cresud, “the Company”, “us”
|
|
Cresud S.A.C.I.F. y A.
|
Financial Statements
|
|
Unaudited Condensed Interim Consolidated Financial
Statements
|
Annual Financial Statements
|
|
Consolidated Financial Statements as of June 30, 2019
|
CPF
|
|
Collective Promotion Funds
|
GCDI
|
|
GCDI S.A.
|
IFISA
|
|
Inversiones Financieras del Sur S.A.
|
IPC
|
|
Consumer's price index
|
IRSA
|
|
IRSA Inversiones y Representaciones S.A.
|
IRSA CP
|
|
IRSA Propiedades Comerciales S.A.
|
LRSA
|
|
La Rural S.A.
|
New Lipstick
|
|
New Lipstick LLC
|
IAS
|
|
International Accounting Standards
|
IFRS
|
|
International Financial Reporting Standards
|
NIS
|
|
New Israeli Shekel
|
Quality
|
|
Quality Invest S.A.
|
RECPAM
|
|
Result from exposure to changes in the purchasing power of the
currency
|
PRICE WATERHOUSE & CO. S.R.L.(Socio)
|
|
)
|
|
)
|
C.P.C.E.C.A.B.A. T° 1 F° 17
Carlos Brondo
Contador Público (UBA)
C.P.C.E.C.A.B.A. T° 391 F° 078
|
|
Marcelo H. Fuxman
Síndico Titular
Por Comisión Fiscalizadora
|
|
Alejandro
G. Elsztain
Vice
President II
|
|
Cost of treasury shares
|
Reserve for currency translation adjustment
|
Reserve for the acquisition of securities issued by the
Company
|
Special reserve
|
Other reserves (*)
|
Total other reserves
|
Balance as of June 30, 2022
|
(635)
|
2,154
|
427
|
-
|
(826)
|
1,120
|
Other
comprehensive income for the period
|
-
|
303
|
-
|
-
|
449
|
752
|
Total comprehensive income for the period
|
-
|
303
|
-
|
-
|
449
|
752
|
Assignment
of results - Shareholders’ meeting
|
-
|
-
|
-
|
37,154
|
-
|
37,154
|
Repurchase
of treasury shares
|
(5,010)
|
-
|
-
|
-
|
-
|
(5,010)
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
5,712
|
5,712
|
Reserve
for share-based payments
|
-
|
-
|
-
|
-
|
78
|
78
|
Other
changes in shareholders' equity
|
-
|
39
|
-
|
-
|
(70)
|
(31)
|
Balance as of March 31, 2023
|
(5,645)
|
2,496
|
427
|
37,154
|
5,343
|
39,775
|
|
Cost of treasury shares
|
Reserve for currency translation adjustment
|
Reserve for the acquisition of securities issued by the
Company
|
Other reserves (*)
|
Total other reserves
|
Balance as of June 30, 2021
|
(644)
|
16,936
|
427
|
(5,027)
|
11,692
|
Other
comprehensive (loss)/ income for the period
|
-
|
(13,506)
|
-
|
2
|
(13,504)
|
Total comprehensive (loss)/ income for the period
|
-
|
(13,506)
|
-
|
2
|
(13,504)
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
3,244
|
3,244
|
Reserve
for share-based payments
|
-
|
-
|
-
|
29
|
29
|
Other
changes in shareholders' equity
|
-
|
(2)
|
-
|
(82)
|
(84)
|
Balance as of March 31, 2022
|
(644)
|
3,428
|
427
|
(1,834)
|
1,377
|
|
Note
|
03.31.2023
|
03.31.2022
|
Operating activities:
|
|
|
|
Net
cash generated from operating activities before income tax
paid
|
17
|
8,479
|
20,792
|
Income
tax paid
|
|
(1,997)
|
(427)
|
Net cash generated from operating activities
|
|
6,482
|
20,365
|
Investing activities:
|
|
|
|
Capital
contributions to associates and joint ventures
|
|
(20)
|
(1,152)
|
Proceeds
from sales of intangible assets
|
|
-
|
276
|
Acquisition
and improvement of investment properties
|
|
(2,097)
|
(4,631)
|
Proceeds
from sales of investment properties
|
|
18,271
|
25,126
|
Acquisitions
and improvements of property, plant and equipment
|
|
(10,291)
|
(5,030)
|
Acquisition
of intangible assets
|
|
(198)
|
(98)
|
Proceeds
from sales of property, plant and equipment
|
|
9,201
|
10
|
Dividends
collected from associates and joint ventures
|
|
448
|
6,245
|
Proceeds
from loans granted
|
|
443
|
789
|
Acquisitions
of investments in financial assets
|
|
(22,988)
|
(25,163)
|
Proceeds
from disposal of investments in financial assets
|
|
24,877
|
30,463
|
Interest
collected from financial assets
|
|
93
|
88
|
Dividends collected
from financial assets
|
|
-
|
153
|
Loans
granted
|
|
(83)
|
-
|
Proceeds
from derivative financial instruments
|
|
465
|
(290)
|
Prepayment
for investment properties purchases
|
|
(1,690)
|
(4,574)
|
Net cash generated from investing activities
|
|
16,431
|
22,212
|
Financing activities:
|
|
|
|
Borrowings,
issuance and new placement of non-convertible notes
|
|
59,706
|
40,577
|
Payment
of borrowings and non-convertible notes
|
|
(82,797)
|
(58,917)
|
Obtaining/
(Payment) of short term loans, net
|
|
8,333
|
(7,990)
|
Interest
paid
|
|
(21,424)
|
(24,844)
|
Payment
of borrowings with reladed parties
|
|
(9)
|
-
|
Repurchase
of non-convertible notes
|
|
(733)
|
(3,775)
|
Capital
contributions from non-controlling interest in
subsidiaries
|
|
-
|
90
|
Repurchase
of treasury shares
|
|
(5,434)
|
(31)
|
Dividends
paid
|
|
(11,602)
|
-
|
Dividends
paid to non-controlling interest in subsidiaries
|
|
-
|
(9,054)
|
Exercise
of warrants
|
|
403
|
90
|
Payment
of financial leases
|
|
(305)
|
-
|
Net cash used in financing activities
|
|
(53,862)
|
(63,854)
|
Net decrease in cash and cash equivalents
|
|
(30,949)
|
(21,277)
|
Cash
and cash equivalents at beginning of the period
|
15
|
60,802
|
78,621
|
Foreign
exchange gain/ (loss) in cash and changes in fair value of cash
equivalents
|
|
2,770
|
(482)
|
Result
from exposure to inflation on cash and cash
equivalents
|
|
(2,014)
|
(13,778)
|
Cash and cash equivalents at the end of the period
|
15
|
30,609
|
43,084
|
PRICE WATERHOUSE & CO. S.R.L (Socio)
|
|
)
|
|
)
|
C.P.C.E.C.A.B.A. T° 1 F° 17
Carlos Brondo
Contador Público (UBA)
C.P.C.E.C.A.B.A. T° 391 F° 078
|
|
Marcelo H. Fuxman
Síndico Titular
Por Comisión Fiscalizadora
|
|
Alejandro
G. Elsztain
Vice
President II
|
|
As of March 31, 2023 (accumulated nine months)
|
Price
variation
|
74%
|
|
03.31.2023
|
06.30.2022
|
Beginning of the period / year
|
31,193
|
37,085
|
Share
capital increase and contributions
|
44
|
2,672
|
Share
of profit/ (loss)
|
562
|
(340)
|
Other
comprehensive income/ (loss)
|
91
|
(1,125)
|
Dividends
|
(448)
|
(6,400)
|
Participation
in other changes in equity
|
-
|
(491)
|
Reclassification
to financial instruments
|
-
|
(258)
|
Others
|
16
|
50
|
End of the period / year (i)
|
31,458
|
31,193
|
|
% ownership interest
|
Value of Group's interest in equity
|
Group's interest in comprehensive (loss)/ income
|
|||
Name of the entity
|
03.31.2023
|
06.30.2022
|
03.31.2023
|
06.30.2022
|
03.31.2023
|
03.31.2022
|
|
|
|
|
|
|
|
New
Lipstick
|
49.96%
|
49.96%
|
244
|
249
|
(6)
|
231
|
BHSA
|
29.91%
|
29.91%
|
18,294
|
16,833
|
1,461
|
(161)
|
GCDI
(Ex TGLT)
|
27.82%
|
27.82%
|
1,266
|
1,416
|
(150)
|
(709)
|
Quality
|
50.00%
|
50.00%
|
6,105
|
6,719
|
(658)
|
(1,395)
|
La
Rural S.A.
|
50.00%
|
50.00%
|
1,042
|
423
|
627
|
61
|
Cresca
S.A.
|
50.00%
|
50.00%
|
65
|
51
|
-
|
(2)
|
Other
associates and joint ventures
|
-
|
-
|
4,442
|
5,502
|
(712)
|
1,031
|
Total associates and joint ventures
|
|
|
31,458
|
31,193
|
562
|
(944)
|
|
03.31.2023
|
06.30.2022
|
||
|
Level 2
|
Level 3
|
Level 2
|
Level 3
|
Fair value at the beginning of the year
|
379,132
|
147,578
|
289,993
|
255,781
|
Additions
|
738
|
1,348
|
12,815
|
3,574
|
Disposals
|
(18,334)
|
-
|
(50,709)
|
-
|
Transfers
|
2,138
|
719
|
103,637
|
(110,256)
|
Net
(loss)/ gain from fair value adjustment
|
(25,152)
|
(9,638)
|
30,419
|
(1,538)
|
Additions
of capitalized leasing costs
|
12
|
27
|
40
|
33
|
Amortization
of capitalized leasing costs (i)
|
(13)
|
(11)
|
(63)
|
(16)
|
Currency
translation adjustment
|
511
|
-
|
(7,000)
|
-
|
Fair value at the end of the year
|
339,032
|
140,023
|
379,132
|
147,578
|
|
03.31.2023
|
06.30.2022
|
Leased
out farmland
|
24,752
|
23,812
|
Offices
and other rental properties
|
101,352
|
121,560
|
Shopping
malls
|
148,629
|
156,994
|
Undeveloped
parcels of land
|
203,643
|
222,850
|
Properties
under development
|
679
|
1,494
|
Total
|
479,055
|
526,710
|
|
03.31.2023
|
06.30.2022
|
Rental
and services income
|
43,247
|
35,023
|
Direct
operating expenses
|
(14,087)
|
(12,491)
|
Development
expenses
|
(152)
|
(386)
|
Net
unrealized loss from fair value adjustment of investment
property
|
(44,557)
|
(29,821)
|
Net
realized gain from fair value adjustment of investment property
(i)
|
9,767
|
9,602
|
|
Owner
occupied farmland
|
Bearer
plant
|
Buildings
and facilities
|
Machinery
and equipment
|
Others
|
Total as of 03.31.2023
|
Total as of 06.30.2022
|
Costs
|
83,380
|
6,562
|
29,900
|
8,456
|
4,530
|
132,828
|
538,894
|
Accumulated
depreciation
|
(7,497)
|
(3,760)
|
(7,996)
|
(7,633)
|
(2,434)
|
(29,320)
|
(424,325)
|
Net
book amount at the beginning of the period / year
|
75,883
|
2,802
|
21,904
|
823
|
2,096
|
103,508
|
114,569
|
|
|
|
|
|
|
|
|
Additions
|
14,068
|
582
|
978
|
212
|
543
|
16,383
|
7,005
|
Disposals
|
(66)
|
(417)
|
(2,770)
|
-
|
(8)
|
(3,261)
|
(3,077)
|
Currency
translation adjustment
|
1,659
|
65
|
35
|
(1)
|
48
|
1,806
|
(17,169)
|
Transfers
|
(2,171)
|
268
|
(2,594)
|
15
|
-
|
(4,482)
|
6,158
|
Depreciation
charges (i)
|
(739)
|
(637)
|
(777)
|
(282)
|
(343)
|
(2,778)
|
(3,978)
|
Balances
at the end of the period / year
|
88,634
|
2,663
|
16,776
|
767
|
2,336
|
111,176
|
103,508
|
|
|
|
|
|
|
|
|
Costs
|
96,870
|
7,060
|
25,549
|
8,682
|
5,113
|
143,274
|
132,828
|
Accumulated
depreciation
|
(8,236)
|
(4,397)
|
(8,773)
|
(7,915)
|
(2,777)
|
(32,098)
|
(29,320)
|
Net
book amount at the end of the period / year
|
88,634
|
2,663
|
16,776
|
767
|
2,336
|
111,176
|
103,508
|
|
Completed
properties
|
Properties
under development
|
Undeveloped
sites
|
Total
as of 03.31.2023
|
Total
as of 06.30.2022
|
Beginning
of the period / year
|
348
|
2,834
|
2,450
|
5,632
|
5,021
|
Additions
|
-
|
111
|
116
|
227
|
883
|
Currency
translation adjustment
|
-
|
(63)
|
-
|
(63)
|
(272)
|
Disposals
|
(4)
|
(345)
|
(28)
|
(377)
|
-
|
End
of the period / year
|
344
|
2,537
|
2,538
|
5,419
|
5,632
|
|
|
|
|
|
|
Non-current
|
|
|
|
5,316
|
5,296
|
Current
|
|
|
|
103
|
336
|
Total
|
|
|
|
5,419
|
5,632
|
|
Goodwill
|
Information
systems and software
|
Contracts
and others
|
Total
as of 03.31.2023
|
Total
as of 06.30.2022
|
Costs
|
1,054
|
3,105
|
7,625
|
11,784
|
12,238
|
Accumulated
amortization
|
-
|
(2,581)
|
(1,745)
|
(4,326)
|
(3,701)
|
Net
book amount at the beginning of the period / year
|
1,054
|
524
|
5,880
|
7,458
|
8,537
|
Additions
|
-
|
197
|
405
|
602
|
268
|
Disposals
|
-
|
-
|
-
|
-
|
(831)
|
Previsions
|
-
|
-
|
-
|
-
|
(70)
|
Transfers
|
-
|
2
|
-
|
2
|
-
|
Currency
translation adjustment
|
2
|
2
|
-
|
4
|
(51)
|
Amortization
charges (i)
|
-
|
(306)
|
(48)
|
(354)
|
(395)
|
Balances
at the end of the period / year
|
1,056
|
419
|
6,237
|
7,712
|
7,458
|
|
|
|
|
|
|
Costs
|
1,056
|
3,306
|
8,030
|
12,392
|
11,784
|
Accumulated
amortization
|
-
|
(2,887)
|
(1,793)
|
(4,680)
|
(4,326)
|
Net
book amount at the end of the period / year
|
1,056
|
419
|
6,237
|
7,712
|
7,458
|
|
03.31.2023
|
06.30.2022
|
Farmland
|
12,781
|
9,403
|
Offices, shopping
malls and other buildings
|
383
|
30
|
Machinery and
equipment
|
155
|
134
|
Others
|
2,360
|
2,269
|
Right-of-use
assets
|
15,679
|
11,836
|
Non-current
|
15,679
|
11,836
|
Total
|
15,679
|
11,836
|
|
03.31.2023
|
03.31.2022
|
Farmland
|
2,721
|
1,896
|
Offices, shopping
malls and other buildings
|
1
|
1
|
Others
|
233
|
233
|
Depreciation
charge of right-of-use assets (i)
|
2,955
|
2,130
|
|
03.31.2023
|
03.31.2022
|
Supplies
and labors
|
38,531
|
37,437
|
Salaries,
social security costs and other personnel expenses
|
1,696
|
1,669
|
Depreciation
and amortization
|
4,512
|
3,820
|
Fees
and payments for services
|
89
|
110
|
Maintenance,
security, cleaning, repairs and others
|
269
|
278
|
Taxes,
rates and contributions
|
57
|
96
|
Leases
and service charges
|
14
|
16
|
Freights
|
292
|
190
|
Travelling,
library expenses and stationery
|
217
|
196
|
Other
expenses
|
3,904
|
2,114
|
|
49,581
|
45,926
|
|
03.31.2023
|
06.30.2022
|
Crops
|
8,855
|
10,758
|
Materials and
supplies
|
11,231
|
12,512
|
Agricultural
inventories
|
20,086
|
23,270
|
Supplies for
hotels
|
134
|
104
|
Total
inventories
|
20,220
|
23,374
|
|
Financial
liabilities at amortized cost
|
Financial
liabilities at fair value through profit or loss
|
Subtotal
financial liabilities
|
Non-financial
liabilities
|
Total
|
|
March
31, 2023
|
|
Level
1
|
Level
2
|
|
|
|
Liabilities
as per Statement of Financial Position
|
|
|
|
|
|
|
Trade and other
payables (Note 18)
|
36,410
|
-
|
-
|
36,410
|
19,157
|
55,567
|
Borrowings (Note
20)
|
205,407
|
-
|
-
|
205,407
|
-
|
205,407
|
Derivative
financial instruments:
|
|
|
|
|
|
|
- Commodities
options contracts
|
-
|
15
|
-
|
15
|
-
|
15
|
- Commodities
futures contracts
|
1
|
170
|
-
|
171
|
-
|
171
|
-
Foreign-currency options contracts
|
-
|
7
|
-
|
7
|
-
|
7
|
-
Foreign-currency future contracts
|
-
|
51
|
-
|
51
|
-
|
51
|
-
Swaps
|
-
|
283
|
-
|
283
|
-
|
283
|
Total
liabilities
|
241,818
|
526
|
-
|
242,344
|
19,157
|
261,501
|
|
|
Financial
liabilities at fair value through profit or loss
|
|
Non-financial
liabilities
|
Total
|
|
|
Financial
liabilities at amortized cost
|
Level
1
|
Level
2
|
Subtotal
financial liabilities
|
|
|
June
30, 2022
|
|
|
|
|
|
|
Liabilities
as per Statement of Financial Position
|
|
|
|
|
|
|
Trade and other
payables (Note 18)
|
43,285
|
-
|
-
|
43,285
|
18,578
|
61,863
|
Borrowings (Note
20)
|
246,321
|
-
|
-
|
246,321
|
-
|
246,321
|
Derivative
financial instruments:
|
|
|
|
|
|
|
- Commodities
options contracts
|
-
|
309
|
179
|
488
|
-
|
488
|
- Commodities
futures contracts
|
5
|
838
|
-
|
843
|
-
|
843
|
-
Foreign-currency options contracts
|
-
|
284
|
-
|
284
|
-
|
284
|
-
Foreign-currency future contracts
|
-
|
242
|
-
|
242
|
-
|
242
|
-
Swaps
|
-
|
68
|
28
|
96
|
-
|
96
|
Total
liabilities
|
289,611
|
1,741
|
207
|
291,559
|
18,578
|
310,137
|
Description
|
Pricing model / method
|
Parameters
|
Fair value hierarchy
|
Range
|
|
|
|
|
|
Derivative financial instruments – Swaps
and Commodities options contracts
|
Theoretical
price
|
Underlying
asset price and volatility
|
Level
2
|
-
|
|
03.31.2023
|
06.30.2022
|
Trade, leases and
services receivable (*)
|
48,834
|
54,393
|
Less: allowance for
doubtful accounts
|
(1,361)
|
(1,787)
|
Total
trade receivables
|
47,473
|
52,606
|
Prepayments
|
8,502
|
10,335
|
Borrowings,
deposits and others
|
7,749
|
8,301
|
Contributions
pending integration
|
-
|
44
|
Guarantee
deposits
|
9
|
2
|
Tax
receivables
|
6,988
|
5,155
|
Others
|
6,962
|
7,345
|
Total
other receivables
|
30,210
|
31,182
|
Total
trade and other receivables
|
77,683
|
83,788
|
|
|
|
Non-current
|
17,430
|
25,764
|
Current
|
60,253
|
58,024
|
Total
|
77,683
|
83,788
|
|
03.31.2023
|
06.30.2022
|
Beginning
of the period / year
|
1,787
|
2,853
|
Additions
(i)
|
222
|
481
|
Recovery
(i)
|
(96)
|
(493)
|
Currency
translation adjustment
|
241
|
106
|
Used during the
period / year
|
(2)
|
(21)
|
Inflation
adjustment
|
(791)
|
(1,139)
|
End
of the period / year
|
1,361
|
1,787
|
|
Note
|
03.31.2023
|
03.31.2022
|
Profit for the period
|
|
36,331
|
64,674
|
Adjustments for:
|
|
|
|
Income
tax
|
21
|
(37,408)
|
(10,550)
|
Amortization
and depreciation
|
24
|
1,599
|
1,577
|
Gain
from disposal of trading properties
|
|
(1,970)
|
-
|
Loss/
(gain) from disposal of property, plant and equipment
|
|
545
|
(10)
|
Realization
of currency translation adjustment
|
|
(346)
|
-
|
Net
loss from fair value adjustment of investment
properties
|
|
34,790
|
20,219
|
Changes
in the fair value of investments in financial assets
|
|
-
|
(18,675)
|
Gain
from disposal of intangibles assets
|
|
-
|
(190)
|
Financial
results, net
|
|
(10,632)
|
(21,003)
|
Provisions
and allowances
|
|
7,744
|
2,196
|
Share
of (profit)/ loss of associates and joint ventures
|
7
|
(562)
|
1,079
|
Management
fees
|
|
2,333
|
4,678
|
Loss
from repurchase of Non-convertible Notes
|
|
857
|
-
|
Changes
in net realizable value of agricultural products after
harvest
|
|
412
|
2,605
|
Unrealized
initial recognition and changes in fair value of biological assets
and agricultural products at the point of harvest
|
|
(2,062)
|
(29,345)
|
Unrealized
gain from derivative financial instruments
|
|
-
|
(1,046)
|
Gain
from disposal of farmlands
|
|
(688)
|
(9,565)
|
Changes in operating assets and liabilities:
|
|
|
|
Decrease
in inventories
|
|
2,828
|
4,809
|
Decrease/
(increase) in trading properties
|
|
103
|
(194)
|
(Increase)/
decrease in biological assets
|
|
(43)
|
19,249
|
Decrease/
(increase) in trade and other receivables
|
|
10,270
|
(376)
|
Decrease
in trade and other payables
|
|
(30,718)
|
(3,197)
|
Decrease
in salaries and social security liabilities
|
|
(2,811)
|
(2,425)
|
Decrease
in provisions
|
|
(36)
|
(151)
|
Decrease
in lease liabilities
|
|
(1,902)
|
(2,450)
|
Net
variation in derivative financial instruments
|
|
(153)
|
(1,005)
|
Increase
in right of use assets
|
|
(2)
|
(112)
|
Net cash generated from operating activities before income tax
paid
|
|
8,479
|
20,792
|
|
03.31.2023
|
03.31.2022
|
Increase
in investment in associates through a decrease in investments in
financial assets
|
-
|
1,506
|
Increase
in intangible assets through an increase in trade and other
payables
|
-
|
8
|
Increase
in intangible assets through an increase in payroll and social
security liabilities
|
-
|
35
|
Decrease
in trade and other receivables through a decrease in lease
liabilities
|
-
|
6
|
Increase
in financial instruments through a decrease in credits with related
parties
|
-
|
37
|
Increase
in investment properties through an increase in trade and other
payables
|
28
|
321
|
Decrease
in investment properties through an increase in property, plant and
equipment
|
15
|
6,296
|
Increase
in other reserves through an increase in participation in
subsidiaries, associates and joint ventures
|
-
|
923
|
Increase
in right of use assets through an increase of lease
liabilities
|
3,229
|
1,520
|
Currency
translation adjustment
|
303
|
15,878
|
Increase
in equity through an increase in investment properties
|
800
|
-
|
Decrease
in property, plant and equipment through an increase in tax
payables
|
-
|
14
|
Other
changes in subsidiaries equity
|
5,913
|
-
|
Issuance
of non convertible notes
|
50,724
|
-
|
Decrease
in property, plant and equipment through an increase in investment
properties
|
3,561
|
-
|
Increase
in deferred income tax liabilities through a decrease in
shareholders' equity
|
278
|
-
|
Decrease
in trading properties through an increase in intangible
assets
|
406
|
-
|
Decrease
in property, plant and equipment through an increase in
shareholders' equity
|
213
|
-
|
Decrease
in investment properties through a decrease in financial
assets
|
63
|
-
|
Decrease
in investment in financial assets through a decrease in trade and
other payables
|
297
|
-
|
Decrease
in dividends receivables through an increase in financial
assets
|
8
|
-
|
Increase
in property, plant and equipment through an increase in trade and
other payables
|
6,092
|
-
|
Decrease
in property, plant and equipment through an increase in trade and
other receivables
|
8
|
-
|
Decrease
in shareholders' equity through a decrease in financial
assets
|
2,500
|
-
|
Decrease
in shareholders' equity through a decrease in trade and other
receivables
|
1,369
|
-
|
Increase
in investment in associates through a decrease in trade and other
receivables
|
24
|
-
|
|
03.31.2023
|
06.30.2022
|
Trade
payables
|
27,639
|
25,807
|
Advances from
sales, leases and services (*)
|
10,191
|
9,340
|
Accrued
invoices
|
2,841
|
4,039
|
Deferred
income
|
155
|
167
|
Admission
fees
|
5,720
|
4,485
|
Deposits in
guarantee
|
94
|
117
|
Total
trade payables
|
46,640
|
43,955
|
Dividends payable
to non-controlling interests
|
2
|
2,945
|
Tax
payables
|
3,091
|
4,584
|
Director´s
Fees
|
835
|
1,151
|
Management
fees
|
2,333
|
6,919
|
Others
|
2,666
|
2,309
|
Total
other payables
|
8,927
|
17,908
|
Total
trade and other payables
|
55,567
|
61,863
|
|
|
|
Non-current
|
8,084
|
8,008
|
Current
|
47,483
|
53,855
|
Total
|
55,567
|
61,863
|
|
Legal
claims
|
Investments
in associates and joint ventures (ii)
|
Total
as of 03.31.2023
|
Total
as of 06.30.2022
|
Beginning
of period / year
|
1,240
|
14
|
1,254
|
1,543
|
Additions
(i)
|
5,521
|
-
|
5,521
|
1,052
|
Decreases
(i)
|
(168)
|
-
|
(168)
|
-
|
Participation in
the results
|
-
|
(14)
|
(14)
|
-
|
Inflation
adjustment
|
(1,046)
|
-
|
(1,046)
|
(759)
|
Transfers
|
(14)
|
-
|
(14)
|
(66)
|
Currency
translation adjustment
|
4
|
-
|
4
|
(14)
|
Used during the
period / year
|
(36)
|
-
|
(36)
|
(502)
|
End
of period / year
|
5,501
|
-
|
5,501
|
1,254
|
|
|
|
|
|
Non-current
|
|
|
4,798
|
890
|
Current
|
|
|
703
|
364
|
Total
|
|
|
5,501
|
1,254
|
|
Book
value
|
Fair
value
|
||
|
03.31.2023
|
06.30.2022
|
03.31.2023
|
06.30.2022
|
Non-convertible
notes
|
152,880
|
198,250
|
153,119
|
171,024
|
Bank
loans
|
22,627
|
20,896
|
22,627
|
20,896
|
Bank
overdrafts
|
25,428
|
24,327
|
25,428
|
24,327
|
Others
|
4,472
|
2,848
|
4,472
|
2,848
|
Total
borrowings
|
205,407
|
246,321
|
205,646
|
219,095
|
|
|
|
|
|
Non-current
|
122,538
|
80,401
|
|
|
Current
|
82,869
|
165,920
|
|
|
Total
|
205,407
|
246,321
|
|
|
|
03.31.2023
|
03.31.2022
|
Current
income tax (i)
|
13,409
|
(14,695)
|
Deferred
income tax
|
23,999
|
25,245
|
Income tax from continuing operations
|
37,408
|
10,550
|
|
03.31.2023
|
03.31.2022
|
Tax
calculated at the tax rates applicable to profits in the respective
countries
|
384
|
(25,711)
|
Permanent
differences:
|
|
|
Share
of (profit)/ loss of joint ventures and associates
|
(83)
|
8,987
|
Tax
rate differential
|
(46)
|
3,982
|
(Provision
for unrecoverability of tax loss carry-forwards) / Unrecognized tax
loss carry-forwards
|
(2,447)
|
9,786
|
Difference
between affidavit and provision
|
3,998
|
-
|
Non-taxable
profit, non-deductible expenses and others
|
15,357
|
490
|
Tax
inflation adjustment
|
(9,617)
|
(21,839)
|
Fiscal
transparency
|
(1,291)
|
(1,209)
|
Inflation
adjustment permanent difference
|
30,473
|
32,289
|
Others
|
680
|
3,775
|
Income tax from continuing operations
|
37,408
|
10,550
|
|
03.31.2023
|
06.30.2022
|
Beginning of period / year
|
(202,348)
|
(233,444)
|
Currency
translation adjustment
|
(239)
|
3,210
|
Revaluation
surplus
|
(345)
|
(651)
|
Charged
to the Statement of Income
|
23,999
|
28,537
|
End of the period / year
|
(178,933)
|
(202,348)
|
|
|
|
Deferred
income tax assets
|
1,002
|
113
|
Deferred
income tax liabilities
|
(179,935)
|
(202,461)
|
Deferred income tax liabilities, net
|
(178,933)
|
(202,348)
|
|
03.31.2023
|
03.31.2022
|
Crops
|
28,104
|
40,277
|
Sugarcane
|
7,306
|
14,184
|
Cattle
|
3,393
|
4,597
|
Supplies
|
6,905
|
7,686
|
Consignment
|
4,832
|
3,087
|
Advertising
and brokerage fees
|
3,181
|
2,852
|
Agricultural
rental and other services
|
1,126
|
1,071
|
Other
|
1,822
|
3,166
|
Income from sales and services from agricultural
business
|
56,669
|
76,920
|
Trading
properties and developments
|
2,447
|
239
|
Rental
and services
|
42,121
|
33,952
|
Hotel
operations, tourism services and others
|
9,247
|
5,491
|
Income from sales and services from urban properties and investment
business
|
53,815
|
39,682
|
Total revenues
|
110,484
|
116,602
|
|
03.31.2023
|
03.31.2022
|
Other
operative costs
|
52
|
70
|
Cost of property operations
|
52
|
70
|
Crops
|
25,556
|
38,692
|
Sugarcane
|
7,032
|
11,553
|
Cattle
|
2,913
|
3,833
|
Supplies
|
6,502
|
5,602
|
Consignment
|
2,407
|
4,531
|
Advertising
and brokerage fees
|
2,050
|
2,031
|
Agricultural
rental and other services
|
618
|
895
|
Cost of sales and services from agricultural business
|
47,078
|
67,137
|
Trading
properties and developments
|
577
|
572
|
Rental
and services
|
13,469
|
11,596
|
Hotel
operations, tourism services and others
|
4,434
|
3,097
|
Cost of sales and services from sales and services from urban
properties and investment business
|
18,480
|
15,265
|
Total costs
|
65,610
|
82,472
|
|
03.31.2023
|
03.31.2022
|
Gain/
(loss) from commodity derivative financial instruments
|
230
|
(3,935)
|
(Loss)/
gain from sale of property, plant and equipment
|
(545)
|
10
|
Realization
of currency translation adjustment (i)
|
346
|
-
|
Donations
|
(117)
|
(163)
|
Lawsuits
and other contingencies
|
(5,348)
|
(394)
|
Interest
and allowances generated by operating assets
|
(381)
|
672
|
Administration
fees
|
83
|
41
|
Others
|
557
|
708
|
Total other operating results, net
|
(5,175)
|
(3,061)
|
|
03.31.2023
|
03.31.2022
|
Financial income
|
|
|
Interest
income
|
1,627
|
1,312
|
Other
financial income
|
-
|
26
|
Total financial income
|
1,627
|
1,338
|
Financial costs
|
|
|
Interest
expense
|
(20,860)
|
(19,198)
|
Other
financial costs
|
(1,533)
|
(1,998)
|
Total finance costs
|
(22,393)
|
(21,196)
|
Other financial results:
|
|
|
Foreign
exchange, net
|
14,091
|
39,370
|
Fair
value gain from financial assets and liabilities at fair value
through profit or loss
|
5,040
|
10,674
|
Gain
from repurchase of non-convertible notes
|
857
|
2,466
|
Gain/
(loss) from derivative financial instruments (except
commodities)
|
1,287
|
(1,324)
|
Others
|
(422)
|
846
|
Total other financial results
|
20,853
|
52,032
|
Inflation
adjustment
|
16,354
|
2,300
|
Total financial results, net
|
16,441
|
34,474
|
Item
|
03.31.2023
|
06.30.2022
|
Trade
and other receivables
|
6,422
|
7,256
|
Investments
in financial assets
|
455
|
516
|
Trade
and other payables
|
(3,334)
|
(7,246)
|
Borrowings
|
(179)
|
(216)
|
Total
|
3,364
|
310
|
Related
party
|
03.31.2023
|
06.30.2022
|
Description
of transaction
|
Item
|
New
Lipstick LLC
|
51
|
52
|
Reimbursement
of expenses
|
Trade and other
receivables
|
Other
associates and joint ventures (i)
|
10
|
12
|
Leases
and/or rights of use receivable
|
Trade
and other receivables
|
|
(1)
|
-
|
Leases
and/or rights of use to pay
|
Trade
and other payables
|
|
117
|
355
|
Dividends
receivables
|
Trade and other
receivables
|
|
455
|
474
|
Other
investments
|
Investments
in financial assets
|
|
(107)
|
(110)
|
Non-convertible
notes
|
Borrowings
|
|
1
|
2
|
Equity
incentive plan receivable
|
Trade
and other receivables
|
|
440
|
428
|
Loans
granted
|
Trade
and other receivables
|
|
(72)
|
(106)
|
Borrowings
|
Borrowings
|
|
-
|
2
|
Reimbursement
of expenses
|
Trade and other
receivables
|
|
17
|
33
|
Management
fees receivable
|
Trade and other
receivables
|
|
(49)
|
(153)
|
Other
payables
|
Trade and other
payables
|
|
936
|
1,231
|
Other
receivables
|
Trade and other
receivables
|
Total associates and joint ventures
|
1,798
|
2,220
|
|
|
CAMSA
and its subsidiaries
|
(2,372)
|
(6,919)
|
Management
fee payables
|
Trade and other
payables
|
Yad
Levim LTD
|
3,816
|
3,847
|
Loans
granted
|
Trade and other
receivables
|
Other
related parties (ii)
|
573
|
760
|
Other
receivables
|
Trade and other
receivables
|
|
(24)
|
(18)
|
Other
payables
|
Trade and other
payables
|
|
-
|
42
|
Non-convertible
notes
|
Investments in
financial assets
|
|
(42)
|
(21)
|
Management
fee payables
|
Trade
and other payables
|
|
37
|
44
|
Reimbursement
of expenses
|
Trade and other
receivables
|
|
(12)
|
(23)
|
Legal
services
|
Trade and other
payables
|
Total other related parties
|
1,976
|
(2,288)
|
|
|
IFISA
|
424
|
468
|
Loans
granted
|
Trade and other
receivables
|
Total direct parent company
|
424
|
468
|
|
|
Directors
and Senior Management
|
(834)
|
(112)
|
Fees
|
Trade and other
payables
|
|
-
|
22
|
Advances
receivable
|
Trade and other
receivables
|
Total Directors and Senior Management
|
(834)
|
(90)
|
|
|
Total
|
3,364
|
310
|
|
|
Related party
|
03.31.2023
|
03.31.2022
|
Description of transaction
|
BACS
|
-
|
92
|
Leases
and/or rights of use
|
Condor
|
3
|
45
|
Financial
operations
|
BHN
Vida S.A.
|
(1)
|
51
|
Financial
operations
|
BHN
Seguros Generales S.A.
|
(1)
|
41
|
Financial
operations
|
Uranga
Trading S.A.
|
-
|
300
|
Income
from sales and services
|
Other
associates and joint ventures
|
(37)
|
25
|
Leases
and/or rights of use
|
|
56
|
-
|
Corporate
services
|
|
-
|
31
|
Fees
and remunerations
|
|
69
|
552
|
Financial
operations
|
Total associates and joint ventures
|
89
|
1,137
|
|
CAMSA
and its subsidiaries
|
(2,333)
|
(4,678)
|
Management
fee
|
Other
related parties (i)
|
(13)
|
8
|
Leases
and/or rights of use
|
|
(59)
|
(16)
|
Fees
and remunerations
|
|
7
|
-
|
Corporate
services
|
|
264
|
(12)
|
Legal
services
|
|
(35)
|
176
|
Financial
operations
|
|
(80)
|
(88)
|
Donations
|
|
144
|
-
|
Income
from sales and services from agricultural business
|
Total other related parties
|
(2,105)
|
(4,610)
|
|
IFISA
|
18
|
29
|
Financial
operations
|
Total Parent Company
|
18
|
29
|
|
Directors
|
(1,689)
|
(1,442)
|
Fees
|
Senior
Management
|
(105)
|
(96)
|
Compensation
of Directors and senior management
|
Total Directors and Senior Management
|
(1,794)
|
(1,538)
|
|
Total
|
(3,792)
|
(4,982)
|
|
Related party
|
03.31.2023
|
03.31.2022
|
Description of transaction
|
Quality
|
44
|
72
|
Irrevocable
contributions
|
Condor
|
-
|
1,504
|
Irrevocable
contributions
|
Agrofy
|
-
|
780
|
Irrevocable
contributions
|
Comparaencasa
|
-
|
212
|
Irrevocable
contributions
|
Otros
|
-
|
90
|
Irrevocable
contributions
|
Total contributions
|
44
|
2,658
|
|
Agro-Uranga
S.A.
|
162
|
121
|
Dividends
received
|
Uranga
Trading S.A.
|
28
|
35
|
Dividends
received
|
Condor
|
84
|
6,245
|
Dividends
received
|
Nuevo
Puerto Santa Fe S.A.
|
174
|
-
|
Dividends
received
|
Total dividends received
|
448
|
6,401
|
|
Agrofy
Global LLC
|
-
|
778
|
Share
capital increase
|
Total other transactions
|
-
|
778
|
|
Exhibit A - Property, plant and equipment
|
|
Note 8 - Investment properties
|
|
|
Note 9 - Property, plant and equipment
|
Exhibit B - Intangible assets
|
|
Note 11 - Intangible assets
|
Exhibit C - Equity investments
|
|
Note 7 - Investments in associates and joint ventures
|
Exhibit D - Other investments
|
|
Note 15 - Financial instruments by category
|
Exhibit E – Provisions and allowances
|
|
Note 16 – Trade and other receivables and Note 19 -
Provisions
|
Exhibit F - Cost of sales and services provided
|
|
Note 29 - Cost of sales and services provided
|
Exhibit G - Foreign currency assets and liabilities
|
|
Note 30 - Foreign currency assets and liabilities
|
Description
|
Cost of sales and services from agricultural business
(i)
|
Cost of sales and services from sales and services from urban
properties and investment business (ii)
|
Total as of 03.31.2023
|
Total as of 03.31.2022
|
Inventories at the beginning of the period / year
|
10,598
|
5,632
|
16,230
|
45,959
|
Initial
recognition and changes in the fair value of biological assets and
agricultural products at the point of harvest
|
1,012
|
-
|
1,012
|
20,491
|
Changes
in the net realizable value of agricultural products after
harvest
|
(410)
|
-
|
(410)
|
(2,599)
|
Additions
|
634
|
-
|
634
|
204
|
Currency
translation adjustment
|
(308)
|
63
|
(245)
|
(4,881)
|
Harvest
|
38,440
|
-
|
38,440
|
24,771
|
Acquisitions
and classifications
|
27,916
|
18,715
|
46,631
|
33,170
|
Consume
|
(8,561)
|
-
|
(8,561)
|
(8,664)
|
Disposals
due to sales
|
-
|
(377)
|
(377)
|
-
|
Expenses
incurred
|
7,315
|
-
|
7,315
|
10,918
|
Inventories
at the end of the period /
year
|
(29,558)
|
(5,553)
|
(35,111)
|
(36,967)
|
Cost as of 03.31.23
|
47,078
|
18,480
|
65,558
|
-
|
Cost as of 03.31.22
|
67,137
|
15,265
|
-
|
82,402
|
PRICE
WATERHOUSE & CO. S.R.L.
(Partner)
|
|
C.P.C.E.C.A.B.A.
Tº 1 Fº 17
|
|
Carlos
Brondo Contador Público
(UNCUYO)
C.P.C.E.C.A.B.A. T° 391 F° 078
|
|
|
|
|
)
|
|
|
|
|
|
Alejandro
G. Elsztain
Vice
President II
|
|
|
Nine months
|
Three months
|
||
|
Note
|
03.31.2023
|
03.31.2022
|
03.31.2023
|
03.31.2022
|
Revenues
|
20
|
13,614
|
20,726
|
2,066
|
4,839
|
Costs
|
21
|
(11,767)
|
(17,988)
|
(1,954)
|
(4,517)
|
Initial
recognition and changes in the fair value of biological assets and
agricultural products at the point of harvest
|
|
(4,201)
|
4,742
|
(461)
|
5,442
|
Changes
in the net realizable value of agricultural products after
harvest
|
|
297
|
(233)
|
(226)
|
109
|
Gross (loss) / profit
|
|
(2,057)
|
7,247
|
(575)
|
5,873
|
Net
loss from fair value adjustment of investment
properties
|
|
(74)
|
(261)
|
(184)
|
(93)
|
General
and administrative expenses
|
22
|
(1,664)
|
(1,890)
|
(556)
|
(437)
|
Selling
expenses
|
22
|
(1,982)
|
(3,489)
|
(295)
|
(905)
|
Other
operating results, net
|
23
|
14
|
(756)
|
74
|
(1,131)
|
Management
fees
|
|
(2,333)
|
(4,678)
|
(845)
|
1,193
|
(Loss) / profit from operations
|
|
(8,096)
|
(3,827)
|
(2,381)
|
4,500
|
Share
of profit / (loss) of subsidiaries and associates
|
6
|
18,102
|
29,827
|
5,662
|
(17,591)
|
Profit / (loss) before financing and taxation
|
|
10,006
|
26,000
|
3,281
|
(13,091)
|
Finance
income
|
24
|
913
|
599
|
40
|
264
|
Finance
costs
|
24
|
(9,708)
|
(6,895)
|
(3,401)
|
(2,885)
|
Other
financial results
|
24
|
9,033
|
16,754
|
5,125
|
3,966
|
Inflation
adjustment
|
24
|
7,672
|
100
|
2,450
|
1,286
|
Financial
results, net
|
24
|
7,910
|
10,558
|
4,214
|
2,631
|
Profit / (loss) before income tax
|
|
17,916
|
36,558
|
7,495
|
(10,460)
|
Income
tax
|
19
|
3,078
|
5,545
|
93
|
(286)
|
Profit / (loss) for the period
|
|
20,994
|
42,103
|
7,588
|
(10,746)
|
|
|
|
|
|
|
Other
comprehensive profit/ (loss):
|
|
|
|
|
|
Items that may be reclassified subsequently to profit or
loss:
|
|
|
|
|
|
Currency
translation adjustment and other comprehensive results from
subsidiaries and associates (i)
|
|
322
|
(14,481)
|
1,965
|
(1,968)
|
Revaluation
surplus
|
|
522
|
-
|
51
|
-
|
Other comprehensive income / (loss) the period
|
|
844
|
(14,481)
|
2,016
|
(1,968)
|
Total comprehensive income / (loss) for the period
|
|
21,838
|
27,622
|
9,604
|
(12,714)
|
|
|
|
|
|
|
Profit / (Loss) per share for the period (ii)
|
|
|
|
|
|
Basic
|
|
36.01
|
71.36
|
13.02
|
(18.21)
|
Diluted
|
|
30.16
|
60.58
|
10.90
|
(18.21)
|
|
|
|
|
)
|
|
|
|
|
Alejandro
G. Elsztain
Vice
President II
|
|
Cost of treasury shares
|
Reserve for currency translation adjustment
|
Reserve for the acquisition of securities issued by the
Company
|
Special reserve
|
Other reserves (i)
|
Total Other reserves
|
Balance as of June 30, 2022
|
(635)
|
(1,304)
|
427
|
-
|
(765)
|
(2,277)
|
Other
comprehensive income for the period
|
-
|
395
|
-
|
-
|
449
|
844
|
Total comprehensive income for the period
|
-
|
395
|
-
|
-
|
449
|
844
|
Repurchase
of treasury shares
|
(5,010)
|
-
|
-
|
-
|
-
|
(5,010)
|
Constitution
of reserves
|
-
|
-
|
-
|
37,154
|
-
|
37,154
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
5,252
|
5,252
|
Reserve
for share-based payments
|
-
|
-
|
-
|
-
|
78
|
78
|
Other
changes in equity of subsidiaries
|
-
|
39
|
-
|
-
|
(70)
|
(31)
|
Balance as of March 31, 2023
|
(5,645)
|
(870)
|
427
|
37,154
|
4,944
|
36,010
|
|
Cost of treasury shares
|
Reserve for currency translation adjustment
|
Reserve for the acquisition of securities issued by the
Company
|
Other reserves (i)
|
Total Other reserves
|
Balance as of June 30, 2021
|
(644)
|
14,701
|
427
|
(5,806)
|
8,678
|
Other
comprehensive (loss) / income for the period
|
-
|
(14,483)
|
-
|
2
|
(14,481)
|
Total comprehensive (loss) / income for the period
|
-
|
(14,483)
|
-
|
2
|
(14,481)
|
Reserve
for share-based payments
|
-
|
-
|
-
|
29
|
29
|
Other
changes in equity of subsidiaries
|
-
|
(2)
|
-
|
(82)
|
(84)
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
4,237
|
4,237
|
Balance as of March 31, 2022
|
(644)
|
216
|
427
|
(1,620)
|
(1,621)
|
|
|
|
|
)
|
|
|
|
|
Alejandro
G. Elsztain
Vice
President II
|
|
Note
|
03.31.2023
|
03.31.2022
|
Operating activities:
|
|
|
|
Cash
used in operations
|
15
|
(4,146)
|
(2,643)
|
Net cash used in operating activities
|
|
(4,146)
|
(2,643)
|
Investing activities:
|
|
|
|
Capital
contribution to subsidiaries and associates
|
6
|
-
|
(264)
|
Acquisition
of property, plant and equipment
|
8
|
(562)
|
(903)
|
Acquisition
of intangible assets
|
9
|
(15)
|
-
|
Proceeds
from disposals of investment in financial assets
|
|
1,924
|
9,383
|
Acquisition
of investment in financial instruments
|
|
(1,027)
|
(5,880)
|
Payments
from derivative financial instruments
|
|
451
|
(290)
|
Dividends
collected
|
|
2,748
|
1,314
|
Interest
collected
|
|
54
|
74
|
Net cash generated from investing activities
|
|
3,573
|
3,434
|
Financing activities:
|
|
|
|
Repurchase
of NCN
|
|
-
|
(2,174)
|
Borrowings,
issuance and new placement of NCN
|
|
30,543
|
33,802
|
Payment
of borrowings and NCN
|
|
(24,517)
|
(33,997)
|
Obtaining
of short-term loans, net
|
|
8,808
|
464
|
Repurchase
of treasury shares
|
|
(5,010)
|
-
|
Exercise
of warrants
|
|
394
|
82
|
Dividends
paid
|
|
(5,398)
|
-
|
Interest
paid
|
|
(12,298)
|
(9,953)
|
Net cash used in financing activities
|
|
(7,478)
|
(11,776)
|
Net decrease in cash and cash equivalents
|
|
(8,051)
|
(10,985)
|
Cash
and cash equivalents at beginning of the period
|
13
|
9,896
|
11,322
|
Result
from exposure to inflation on cash and cash
equivalents
|
|
101
|
2
|
Foreign
exchange loss in cash and changes in fair value of cash
equivalents
|
|
(1,710)
|
(121)
|
Cash and cash equivalents at the end of the period
|
13
|
236
|
218
|
|
|
|
|
)
|
|
|
|
|
Alejandro
G. Elsztain
Vice
President II
|
Price
variation
|
March
31, 2023
(accumulated
nine months)
|
|
74%
|
|
03.31.2023
|
06.30.2022
|
Beginning of the period / year
|
209,791
|
177,521
|
Capital
contributions (Note 25)
|
-
|
263
|
Share
of profit
|
18,102
|
49,664
|
Other
comprehensive results
|
322
|
(16,260)
|
Other
changes in equity of subsidiaries
|
5,303
|
1,426
|
Decrease
of interest
|
-
|
(1,357)
|
Dividends
distributed (Note 25)
|
(4,922)
|
(1,466)
|
End of the period / year
|
228,596
|
209,791
|
|
03.31.2023
|
06.30.2022
|
Beginning of the period / year
|
1,608
|
1,544
|
Transfers
|
968
|
442
|
Net
loss from fair value adjustment of investment
properties
|
(74)
|
(378)
|
End of the period / year
|
2,502
|
1,608
|
|
Owner occupied farmland (ii)
|
Others
|
Total as of 03.31.2023
|
Total as of 06.30.2022
|
|
|
|
|
|
Costs
|
28,603
|
1,945
|
30,548
|
29,336
|
Accumulated
depreciation
|
(4,628)
|
(1,336)
|
(5,964)
|
(5,397)
|
Net book amount at the beginning of the period / year
|
23,975
|
609
|
24,584
|
23,939
|
Additions
|
418
|
144
|
562
|
1,039
|
Disposals
|
-
|
-
|
-
|
(14)
|
Transfers
|
(165)
|
-
|
(165)
|
186
|
Depreciation
charge (i)
|
(295)
|
(146)
|
(441)
|
(566)
|
Balances at the end of the period / year
|
23,933
|
607
|
24,540
|
24,584
|
|
|
|
|
|
Costs
|
28,856
|
2,089
|
30,945
|
30,548
|
Accumulated
depreciation
|
(4,923)
|
(1,482)
|
(6,405)
|
(5,964)
|
Net book amount at the end of the period / year
|
23,933
|
607
|
24,540
|
24,584
|
|
Software
|
Concession rights
|
Total as of 03.31.2023
|
Total as of 06.30.2022
|
Costs
|
121
|
1,413
|
1,534
|
1,534
|
Accumulated
amortization
|
(112)
|
(652)
|
(764)
|
(705)
|
Net book amount at the beginning of the period / year
|
9
|
761
|
770
|
829
|
Additions
|
15
|
-
|
15
|
-
|
Amortization
charges (i)
|
(9)
|
(34)
|
(43)
|
(59)
|
Balances at the end of the period / year
|
15
|
727
|
742
|
770
|
Costs
|
136
|
1,413
|
1,549
|
1,534
|
Accumulated
amortization
|
(121)
|
(686)
|
(807)
|
(764)
|
Net book amount at the end of the period / year
|
15
|
727
|
742
|
770
|
|
03.31.2023
|
06.30.2022
|
Offices
|
42
|
104
|
Farmland
|
5,730
|
4,643
|
Machines
and equipment
|
-
|
2
|
Total right of use assets
|
5,772
|
4,749
|
Non-current
|
5,772
|
4,749
|
Total
|
5,772
|
4,749
|
|
03.31.2023
|
03.31.2022
|
Farmland
|
1,781
|
952
|
Offices
|
62
|
63
|
Machines
and equipment
|
-
|
2
|
Total depreciation of right of use assets (Note 22)
|
1,843
|
1,017
|
|
Sown land-crops
|
Breeding cattle
|
Other cattle
|
Others
|
|
|
|
|
Level
1
|
Level
3
|
Level
2
|
Level
2
|
Level
1
|
Total as of 03.31.2023
|
Total as of 06.30.2022
|
Net book amount at the beginning of the period / year
|
675
|
3,578
|
8,670
|
198
|
110
|
13,231
|
14,948
|
Purchases
|
-
|
-
|
397
|
10
|
-
|
407
|
1,315
|
Transfers
|
(451)
|
451
|
-
|
-
|
-
|
-
|
-
|
Initial
recognition and changes in the fair value of biological
assets
|
-
|
(1,140)
|
(3,026)
|
(74)
|
-
|
(4,240)
|
6,247
|
Decrease
due to harvest
|
-
|
(6,054)
|
-
|
-
|
-
|
(6,054)
|
(25,254)
|
Sales
|
-
|
-
|
(2,136)
|
(3)
|
-
|
(2,139)
|
(4,058)
|
Consumes
|
-
|
-
|
(13)
|
-
|
(21)
|
(34)
|
(44)
|
Costs
for the period
|
4,073
|
8,073
|
2,770
|
-
|
-
|
14,916
|
20,077
|
Balances at the end of the period / year
|
4,297
|
4,908
|
6,662
|
131
|
89
|
16,087
|
13,231
|
|
|
|
|
|
|
|
|
Non-current
(production)
|
-
|
-
|
5,909
|
103
|
89
|
6,101
|
8,172
|
Current
(consumable)
|
4,297
|
4,908
|
753
|
28
|
-
|
9,986
|
5,059
|
Net book amount at the end of the period / year
|
4,297
|
4,908
|
6,662
|
131
|
89
|
16,087
|
13,231
|
|
03.31.2023
|
03.31.2022
|
Supplies
and labors
|
10,782
|
11,101
|
Leases
and expenses
|
14
|
16
|
Amortization
and depreciation (Note 22)
|
2,159
|
1,320
|
Maintenance
and repairs
|
254
|
245
|
Payroll
and social security liabilities
|
1,053
|
1,005
|
Fees
and payments for services
|
88
|
108
|
Freight
expenses
|
292
|
190
|
Travel
expenses and stationery
|
217
|
196
|
Taxes,
rates and contributions
|
57
|
96
|
|
14,916
|
14,277
|
|
03.31.2023
|
06.30.2022
|
Crops
|
1,441
|
4,567
|
Materials
and supplies
|
26
|
14
|
Seeds
and fodders
|
2,934
|
5,392
|
Total inventories
|
4,401
|
9,973
|
Current
|
4,401
|
9,973
|
Total
|
4,401
|
9,973
|
|
Financial assets at amortized cost
|
Financial assets at fair value through profit or
loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
March
31, 2023
|
|
Level 1
|
|
|
|
Assets
as per statement of financial position
|
|
|
|
|
|
Trade and other
receivables (excluding the allowance for doubtful accounts and
other receivables) (Note 14)
|
6,105
|
-
|
6,105
|
2,886
|
8,991
|
Derivative
financial instruments
|
|
|
|
|
|
- Commodities
options contracts
|
-
|
9
|
9
|
-
|
9
|
Cash and cash
equivalents
|
|
|
|
|
|
- Cash on
hand and at bank
|
134
|
-
|
134
|
-
|
134
|
- Short-term
investments
|
-
|
102
|
102
|
-
|
102
|
Total
|
6,239
|
111
|
6,350
|
2,886
|
9,236
|
|
Financial liabilities at amortized cost
|
Financial liabilities at fair value through profit or
loss
|
Subtotal financial liabilities
|
Non-financial liabilities
|
Total
|
March 31, 2023
|
|
Level 1
|
|
|
|
Liabilities as per statement of financial position
|
|
|
|
|
|
Trade
and others payables (Note 16)
|
8,758
|
-
|
8,758
|
2,673
|
11,431
|
Borrowings
(Note 18)
|
95,731
|
-
|
95,731
|
-
|
95,731
|
Derivative
financial instruments:
|
|
|
|
|
|
- Commodities
futures contracts
|
1
|
-
|
1
|
-
|
1
|
Total
|
104,490
|
-
|
104,490
|
2,673
|
107,163
|
|
Financial assets at amortized cost
|
Financial assets at fair value through profit or
loss
|
Subtotal financial assets
|
Non-financial assets
|
Total
|
June
30, 2022
|
|
Level 1
|
|
|
|
Assets
as per statement of financial position
|
|
|
|
|
|
Trade and other
receivables (excluding the allowance for doubtful accounts and
other receivables) (Note 14)
|
8,034
|
-
|
8,034
|
1,761
|
9,795
|
Investment in
financial assets
|
|
|
|
|
|
- Pubilc
companies´ securities
|
-
|
348
|
348
|
-
|
348
|
Derivative
financial instruments
|
|
|
|
|
|
- Commodities
options contracts
|
-
|
17
|
17
|
-
|
17
|
-
Foreign-currency futures contracts
|
-
|
3
|
3
|
-
|
3
|
Cash and cash
equivalents
|
|
|
|
|
|
- Cash on
hand and at bank
|
9,401
|
-
|
9,401
|
-
|
9,401
|
- Short-term
investments
|
-
|
495
|
495
|
-
|
495
|
Total
|
17,435
|
863
|
18,298
|
1,761
|
20,059
|
|
Financial liabilities at amortized cost
|
Financial liabilities at fair value through profit or
loss
|
Subtotal financial liabilities
|
Non-financial liabilities
|
Total
|
June 30, 2022
|
|
Level 1
|
|
|
|
Liabilities as per statement of financial position
|
|
|
|
|
|
Trade
and others payables (Note 16)
|
14,241
|
-
|
14,241
|
2,144
|
16,385
|
Borrowings
(Note 18)
|
96,451
|
-
|
96,451
|
-
|
96,451
|
Derivative
financial instruments:
|
|
|
|
|
|
- Commodities
futures contracts
|
-
|
115
|
115
|
-
|
115
|
Total
|
110,692
|
115
|
110,807
|
2,144
|
112,951
|
|
03.31.2023
|
06.30.2022
|
Receivables
from sale of properties (i)
|
931
|
883
|
Receivables
from sale of agricultural products and services
|
2,601
|
3,529
|
Debtors
under legal proceedings
|
2
|
14
|
Less:
allowance for doubtful accounts
|
(6)
|
(10)
|
Total trade receivables
|
3,528
|
4,416
|
Prepayments
|
421
|
411
|
Tax
credits
|
2,312
|
1,252
|
Loans
granted
|
118
|
122
|
Advance
payments
|
151
|
77
|
Expenses
to recover
|
56
|
113
|
Others
|
355
|
479
|
Total other receivables
|
3,413
|
2,454
|
Related
parties (Note 25)
|
2,044
|
2,915
|
Total trade and other receivables
|
8,985
|
9,785
|
Non-current
|
737
|
1,089
|
Current
|
8,248
|
8,696
|
Total trade and other receivables
|
8,985
|
9,785
|
|
03.31.2023
|
06.30.2022
|
Beginning of the period / year
|
10
|
14
|
Charges
|
3
|
3
|
Inflation
adjustment
|
(7)
|
(7)
|
End of the period / year
|
6
|
10
|
|
Note
|
03.31.2023
|
03.31.2022
|
Profit for the period
|
|
20,994
|
42,103
|
Adjustments for:
|
|
|
|
Income
tax
|
19
|
(3,078)
|
(5,545)
|
Amortization
and depreciation
|
22
|
168
|
165
|
Unrealized
loss from derivative financial instruments of
commodities
|
|
-
|
789
|
Financial
results, net
|
|
(2,129)
|
(13,026)
|
Unrealized
initial recognition and changes in the fair value of biological
assets
|
|
1,290
|
(6,997)
|
Changes
in net realizable value of agricultural products after
harvest
|
|
(297)
|
233
|
Provisions
and allowances
|
|
233
|
124
|
Management
fees
|
|
2,333
|
4,678
|
Share
of profit from participation in subsidiaries and
asscociates
|
6
|
(18,102)
|
(29,827)
|
Net
loss from fair value adjustment of investment
properties
|
7
|
74
|
261
|
Result
from sale of property, plant and equipment
|
|
(8)
|
(10)
|
Changes in operating assets and liabilities:
|
|
|
|
(Increase)
/ decrease in biological assets
|
|
(1,987)
|
1,021
|
Decrease
in inventories
|
|
5,869
|
9,105
|
(Increase)
/ decrease in trade and other receivables
|
|
(168)
|
2,082
|
Increase
in right of use assets
|
|
(2)
|
-
|
Decrease
in lease liabilities
|
|
(1,902)
|
(1,880)
|
Decrease
in derivative financial instruments
|
|
-
|
(170)
|
Decrease
in provisions
|
|
-
|
(10)
|
Decrease
in trade and other payables
|
|
(7,364)
|
(5,191)
|
Decrease
in payroll and social security liabilities
|
|
(70)
|
(548)
|
Net cash used in operating activities before income tax
paid
|
|
(4,146)
|
(2,643)
|
|
03.31.2023
|
03.31.2022
|
Non-cash transactions
|
|
|
Uncollected
dividends
|
851
|
12
|
Currency
translation adjustment and other comprehensive results from
subsidiaries and associates
|
322
|
-
|
Issuanse
of non-convertible notes
|
13,611
|
-
|
Decrease
in investments in subsidiaries and associates through a decrease in
borrowings
|
-
|
1,310
|
Decrease
of interest in subsidiaries and associates due to currency
translation adjustment
|
-
|
14,480
|
Decrease
in property, plant and equipment through an increase in trade and
other receivables
|
8
|
14
|
Increase
in the right of use assets through an increase in the lease
liabilities
|
2,867
|
1,520
|
Decrease
in lease liabilities through a decrease in trade and other
receivables
|
-
|
67
|
Increase
in investment properties through a decrease in property, plant and
equipment
|
968
|
-
|
Increase
in shareholders´ equity through an increase in investment
properties
|
800
|
-
|
Increase
in deferred tax liability through a decrease in shareholders´
equity
|
278
|
-
|
Decrease
in trade receivables through a decrease in lease
liabilities
|
56
|
-
|
Decrease
in trade and other receivables through a decrease in
borrowings
|
23
|
644
|
Increase
in other reserves through an increase in investment in subsidiaries
and associates
|
5,303
|
923
|
|
03.31.2023
|
06.30.2022
|
Trade
payables
|
3,532
|
3,589
|
Provisions
|
1,412
|
2,245
|
Sales,
rent and services payments received in advance
|
2,538
|
1,164
|
Total trade payables
|
7,482
|
6,998
|
Taxes
payable
|
27
|
61
|
Total other payables
|
27
|
61
|
Related
parties (Note 25)
|
3,922
|
9,326
|
Total trade and other payables
|
11,431
|
16,385
|
Non-current
|
301
|
-
|
Current
|
11,130
|
16,385
|
Total trade and other payables
|
11,431
|
16,385
|
|
Labor and tax claims and other claims
|
Total as of 03.31.2023
|
Total as of 06.30.2022
|
Beginning
of period / year
|
519
|
519
|
719
|
Additions
(i)
|
174
|
174
|
268
|
Decreases
(i)
|
(22)
|
(22)
|
(158)
|
Used
during the period
|
-
|
-
|
(10)
|
Inflation
adjustment
|
(248)
|
(248)
|
(300)
|
End
of period / year
|
423
|
423
|
519
|
Non-current
|
|
396
|
502
|
Current
|
|
27
|
17
|
Total
|
|
423
|
519
|
|
Book value
|
Fair Value
|
||
|
03.31.2023
|
06.30.2022
|
03.31.2023
|
06.30.2022
|
NCN
|
61,368
|
66,610
|
61,701
|
62,356
|
Bank
loans and others
|
3,811
|
6,026
|
3,811
|
6,026
|
Related
parties (Note 25)
|
12,912
|
9,711
|
12,926
|
9,420
|
Bank
overdrafts
|
17,640
|
14,104
|
17,640
|
14,104
|
Total borrowings
|
95,731
|
96,451
|
96,078
|
91,906
|
Non-current
|
45,579
|
39,174
|
|
|
Current
|
50,152
|
57,277
|
|
|
Total borrowings
|
95,731
|
96,451
|
|
|
|
03.31.2023
|
03.31.2022
|
Deferred
income tax
|
3,078
|
5,545
|
Income tax
|
3,078
|
5,545
|
|
|
03.31.2023
|
|
03.31.2022
|
Net profit at tax rate (i)
|
|
(6,271)
|
|
(12,795)
|
Permanent differences:
|
|
|
|
|
Share of profit of subsidiaries and associates
|
|
6,336
|
|
10,439
|
Use of tax loss carry-forwards
|
|
1,216
|
|
4,281
|
Result from sale of participation in subsidiaries
|
|
-
|
|
153
|
Tax transparency
|
|
(1,291)
|
|
(1,209)
|
Non-taxable results, non-deductible expenses and
others
|
|
(110)
|
|
519
|
Inflation adjustment for tax purposes
|
|
(11,531)
|
|
(9,347)
|
Inflation adjustment
|
|
14,729
|
|
13,504
|
Income tax
|
|
3,078
|
|
5,545
|
|
03.31.2023
|
06.30.2022
|
Beginning of the period / year
|
(18,728)
|
(28,036)
|
Revaluation
surplus
|
(278)
|
(219)
|
Charged
to the Statement of Comprehensive Income
|
3,078
|
9,527
|
End of the period / year
|
(15,928)
|
(18,728)
|
|
03.31.2023
|
03.31.2022
|
Crops
|
10,635
|
16,987
|
Cattle
|
2,597
|
3,436
|
Supplies
|
11
|
7
|
Leases
and agricultural services
|
371
|
296
|
Total revenues
|
13,614
|
20,726
|
|
03.31.2023
|
03.31.2022
|
Crops
|
9,298
|
15,030
|
Cattle
|
2,179
|
2,852
|
Leases
and agricultural services
|
237
|
34
|
Other
costs
|
53
|
72
|
Total costs
|
11,767
|
17,988
|
|
Costs (i)
|
General and administrative expenses
|
Selling expenses
|
Total as of 03.31.2023
|
Total as of 03.31.2022
|
Supplies
and labors
|
211
|
-
|
-
|
211
|
8
|
Leases
and expenses
|
-
|
39
|
5
|
44
|
49
|
Amortization
and depreciation
|
35
|
133
|
-
|
168
|
165
|
Doubtful
accounts (charge and recovery) (Note 14)
|
-
|
-
|
3
|
3
|
4
|
Cost
of sale of agricultural products and biological assets
|
11,477
|
-
|
-
|
11,477
|
17,882
|
Advertising,
publicity and other selling expenses
|
-
|
-
|
159
|
159
|
335
|
Maintenance
and repairs
|
4
|
110
|
2
|
116
|
143
|
Payroll
and social security liabilities
|
26
|
1,061
|
72
|
1,159
|
1,314
|
Fees
and payments for services
|
9
|
174
|
100
|
283
|
292
|
Freights
|
-
|
-
|
1,192
|
1,192
|
2,262
|
Bank
commissions and expenses
|
-
|
23
|
-
|
23
|
63
|
Travel
expenses and stationery
|
4
|
44
|
2
|
50
|
55
|
Conditioning
and clearance
|
-
|
-
|
213
|
213
|
366
|
Director’s
fees (Note 25)
|
-
|
78
|
-
|
78
|
98
|
Taxes,
rates and contributions
|
1
|
2
|
234
|
237
|
331
|
Total expenses by nature as of 03.31.2023
|
11,767
|
1,664
|
1,982
|
15,413
|
-
|
Total expenses by nature as of 03.31.2022
|
17,988
|
1,890
|
3,489
|
-
|
23,367
|
|
03.31.2023
|
03.31.2022
|
Administration
fees
|
32
|
27
|
Gain
/ (Loss) from commodity derivative financial
instruments
|
6
|
(758)
|
Interest
and allowances generated by operating assets
|
47
|
131
|
Contingencies
|
(152)
|
(22)
|
Donations
|
(16)
|
(4)
|
Others
|
97
|
(130)
|
Total other operating results, net
|
14
|
(756)
|
|
03.31.2023
|
03.31.2022
|
Interest
income
|
913
|
599
|
Total financial income
|
913
|
599
|
Interest
expenses
|
(9,365)
|
(6,237)
|
Other
financial costs
|
(343)
|
(658)
|
Total financial costs
|
(9,708)
|
(6,895)
|
Exchange
rate difference, net
|
8,646
|
15,449
|
Fair
value gain of financial assets at fair value through profit or
loss
|
959
|
1,982
|
Loss
from derivative financial instruments (except
commodities)
|
(195)
|
(669)
|
Loss
from the exchange of non-convertible notes
|
(377)
|
-
|
Loss
from repurchase of non-convertible notes
|
-
|
(8)
|
Total other financial results
|
9,033
|
16,754
|
Inflation
adjustment
|
7,672
|
100
|
Total financial results, net
|
7,910
|
10,558
|
Items
|
03.31.2023
|
06.30.2022
|
Trade
and other payables
|
(3,922)
|
(9,326)
|
Borrowings
|
(12,912)
|
(9,711)
|
Trade
and other receivables
|
2,044
|
2,915
|
Right
of use assets
|
42
|
104
|
Lease
Liabilities
|
(37)
|
(96)
|
Total
|
(14,785)
|
(16,114)
|
Related party
|
03.31.2023
|
06.30.2022
|
Description of transaction
|
Item
|
IRSA
Inversiones y Representaciones Sociedad Anónima
|
642
|
1,079
|
Corporate
services receivable
|
Trade
and other receivables
|
|
173
|
2
|
Reimbursement of
expenses receivable
|
Trade
and other receivables
|
|
-
|
(8)
|
Reimbursement of
expenses to pay
|
Trade
and other payables
|
|
(2,190)
|
(3,107)
|
NCN
|
Borrowings
|
|
42
|
104
|
Right
of use assets
|
Right
of use assets
|
|
(37)
|
(96)
|
Leases
|
Lease
Liabilities
|
|
3
|
5
|
Share-based
payments
|
Trade
and other receivables
|
Brasilagro
Companhia Brasileira de Propriedades Agrícolas
|
(18)
|
(18)
|
Rentals
and services received
|
Trade
and other payables
|
|
-
|
77
|
Dividends
receivable
|
Trade
and other receivables
|
|
41
|
112
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
Helmir
S.A.
|
(10,363)
|
(5,122)
|
Loans
received
|
Borrowings
|
|
(2)
|
-
|
Rentals
and services received
|
Trade
and other payables
|
|
(1,236)
|
(1,291)
|
Other
payables
|
Trade
and other payables
|
Futuros
y Opciones.Com S.A.
|
185
|
1,382
|
Brokerage
operations receivable
|
Trade
and other receivables
|
|
524
|
-
|
Dividends
receivable
|
Trade
and other receivables
|
|
(108)
|
(909)
|
Advanced
payments received
|
Trade
and other payables
|
Total subsidiaries
|
(12,344)
|
(7,790)
|
|
|
Agro-Uranga
S.A.
|
14
|
20
|
Dividends
receivables
|
Trade
and other receivables
|
|
26
|
37
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
|
-
|
(5)
|
Reimbursement
of expenses to pay
|
Trade
and other payables
|
Uranga
Trading S.A.
|
6
|
-
|
Dividends
receivables
|
Trade
and other receivables
|
Agrofy
S.A.
|
10
|
3
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
|
(8)
|
(1)
|
Reimbursement
of expenses to pay
|
Trade
and other payables
|
Total associates
|
48
|
54
|
|
|
Tyrus
S.A.
|
-
|
(1,324)
|
NCN
|
Borrowings
|
Panamerican
Mall S.A.
|
-
|
(115)
|
NCN
|
Borrowings
|
Fibesa
S.A.
|
(214)
|
-
|
NCN
|
Borrowings
|
Amauta
Agro S.A.
|
-
|
133
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
|
(18)
|
-
|
Rentals
and services received
|
Trade
and other payables
|
FyO
Acopio S.A.
|
-
|
(103)
|
Rentals
and services received
|
Trade
and other payables
|
|
412
|
-
|
Debtors
for sales, rentals and services
|
Trade
and other receivables
|
Total Subsidiaries of the subsidiaries
|
180
|
(1,409)
|
|
|
CAMSA
and its subsidiaries
|
-
|
(2)
|
Reimbursement
of expenses to pay
|
Trade
and other payables
|
|
(185)
|
-
|
Rentals
and services received
|
Trade
and other payables
|
|
(2,333)
|
(6,919)
|
Management
fees
|
Trade
and other payables
|
Banco
de Crédito y Securitización S.A.
|
-
|
(28)
|
Rentals
and services received
|
Trade
and other payables
|
BNH
Seguros Generales S.A.
|
(40)
|
-
|
NCN
|
Borrowings
|
BNH
VIDA S.A.
|
(105)
|
(43)
|
NCN
|
Borrowings
|
Total Other Related parties
|
(2,663)
|
(6,992)
|
|
|
Inversiones
Financieras del Sur S.A.
|
8
|
43
|
Loans
granted
|
Trade
and other receivables
|
Total Parent Company
|
8
|
43
|
|
|
Directors
and Senior Management
|
-
|
22
|
Reimbursement
of expenses receivable
|
Trade
and other receivables
|
|
(14)
|
(42)
|
Directors'
fees
|
Trade
and other payables
|
Total directors and senior management
|
(14)
|
(20)
|
|
|
Total
|
(14,785)
|
(16,114)
|
|
|
Related party
|
03.31.2023
|
03.31.2022
|
Description of transaction
|
IRSA
Inversiones y Representaciones Sociedad Anónima
|
(12)
|
(12)
|
Leases
and/or rights of use
|
|
-
|
(227)
|
Change
in fair value of financial assets
|
|
(556)
|
1,189
|
Financial
operations
|
|
1,728
|
1,512
|
Corporate
services
|
Futuros
y Opciones.Com S.A.
|
(12)
|
623
|
Purchase
of goods and/or services
|
|
-
|
(6)
|
Financial
operations
|
|
-
|
(748)
|
Supplies
and labor
|
|
(36)
|
-
|
Corporate
services
|
|
3
|
(37)
|
Administration
fees
|
Amauta
Agro S.A.
|
13
|
-
|
Purchase
of goods and/or services
|
|
8
|
-
|
Administration
fees
|
Helmir
S.A.
|
1,724
|
815
|
Financial
operations
|
Alafox
S.A.
|
-
|
223
|
Financial
operations
|
Total subsidiaries
|
2,860
|
3,332
|
|
Tyrus
S.A.
|
179
|
-
|
Financial
operations
|
Panamerican
Mall S.A.
|
(13)
|
16
|
Financial
operations
|
Fibesa
S.A.
|
15
|
-
|
Financial
operations
|
FyO
Acopio S.A.
|
(386)
|
-
|
Purchase
of goods and/or services
|
|
(9)
|
-
|
Corporate
services
|
|
2
|
-
|
Administration
fees
|
|
2
|
-
|
Financial
operations
|
Total Subsidiaries of the subsidiaries
|
(205)
|
16
|
|
Uranga
Tradiing S.A.
|
176
|
300
|
Income
from agricultural sales and services
|
Total Associates
|
176
|
300
|
|
Estudio
Zang, Bergel & Viñes
|
(17)
|
(12)
|
Legal
services
|
CAMSA
and its subsidiaries
|
(2,333)
|
(4,678)
|
Administration
fees
|
BNH
Vida S.A.
|
8
|
8
|
Financial
operations
|
Hamonet
S.A.
|
(3)
|
(4)
|
Leases
and/or rights of use
|
Isaac
Elsztain e Hijos S.C.A.
|
(7)
|
(18)
|
Leases
and/or rights of use
|
Other Related parties
|
(2,352)
|
(4,704)
|
|
Directors
|
(78)
|
(98)
|
Compensation
of Directors
|
Senior
Management
|
(43)
|
-
|
Honorarios
|
Total directors y Senior Management
|
(121)
|
(98)
|
|
Inversiones
Financieras del Sur S.A.
|
18
|
18
|
Financial
operations
|
Total Parent Company
|
18
|
18
|
|
Total
|
376
|
(1,136)
|
|
Related party
|
03.31.2023
|
03.31.2022
|
Description of transaction
|
Helmir
S.A.
|
-
|
264
|
Irrevocable
contributions
|
Total irrevocable contributions
|
-
|
264
|
|
IRSA
Inversiones y Representaciones Sociedad Anónima
|
4,080
|
-
|
Dividends
received
|
Brasilagro
Companhia Brasileira de Propriedades Agrícolas
|
104
|
112
|
Dividends
received
|
Agro-Uranga
S.A.
|
163
|
121
|
Dividends
received
|
Uranga
Trading S.A.
|
28
|
35
|
Dividends
received
|
FyO
Acopio S.A.
|
-
|
10
|
Dividends
received
|
Futuros
y Opciones.Com S.A.
|
547
|
993
|
Dividends
received
|
Total dividends received
|
4,922
|
1,271
|
|
Exhibit A - Property, plant and equipment
|
|
Note 7 – Investment properties
|
|
|
Note 8 – Property, plant and equipment
|
Exhibit B - Intangible assets
|
|
Note 9 – Intangible assets
|
Exhibit C - Equity investments
|
|
Note 6 - Investments in subsidiaries and associates
|
Exhibit D - Other investments
|
|
Note 13 – Financial instruments by category
|
Exhibit E - Provisions and allowances
|
|
Note 14 – Trade and other receivables
|
|
|
Note 17 – Provisions
|
Exhibit F - Cost of sales and services
|
|
Note 27 – Cost of sales and services provided
|
Exhibit G - Foreign currency assets and liabilities
|
|
Note 28 – Foreign currency assets and
liabilities
|
Exhibit H - Exhibit of expenses
|
|
Note 22 – Expenses by nature
|
Description
|
Biological assets (1)
|
Agricultural stock
|
Services and other operating costs
|
Total as of 03.31.2023
|
Total as of 03.31.2022
|
Beginning of the period
|
8,868
|
9,907
|
-
|
18,775
|
22,166
|
Initial
recognition and changes in the fair value of biological assets and
agricultural products at the point of harvest
|
(3,100)
|
-
|
-
|
(3,100)
|
(47)
|
Changes
in the net realizable value of agricultural products after
harvest
|
-
|
297
|
-
|
297
|
(233)
|
Increase
due to harvest
|
-
|
6,090
|
-
|
6,090
|
9,772
|
Acquisitions
and classifications
|
407
|
5,931
|
-
|
6,338
|
5,630
|
Consume
|
(13)
|
(8,486)
|
-
|
(8,499)
|
(8,607)
|
Expenses
incurred
|
2,770
|
-
|
290
|
3,060
|
2,991
|
Inventories
|
(6,793)
|
(4,401)
|
-
|
(11,194)
|
(13,684)
|
Cost as of 03.31.2023
|
2,139
|
9,338
|
290
|
11,767
|
-
|
Cost as of 03.31.2022
|
2,805
|
15,077
|
106
|
-
|
17,988
|
Documentation storage provider
|
|
Location
|
Bank S.A.
|
|
Ruta Panamericana Km 37,5, Garín, Buenos Aires
Province.
Av. Fleming 2190, Munro, Buenos Aires Province.
Carlos Pellegrini 1401, Avellaneda, Buenos Aires
Province.
|
Iron Mountain Argentina S.A.
|
|
Av.
Amancio Alcorta 2482, Autonomous City of Buenos Aires.
|
|
|
Pedro
de Mendoza 2143, Autonomous City of Buenos Aires.
|
|
|
Saraza
6135, Autonomous City of Buenos Aires.
|
|
|
Azara
1245, Autonomous City of Buenos Aires.
Polígono industrial Spegazzini, Autopista Ezeiza Km 45,
Cañuelas, Buenos Aires Province.
Cañada de Gomez 3825, Autonomous City of Buenos
Aires.
|
PRICE WATERHOUSE & CO. S.R.L.
(Socio)
|
C.P.C.E.C.A.B.A. Tº 1 Fº 17
|
Carlos Brondo Contador
Público (UNCUYO)
C.P.C.E.C.A.B.A. T° 391 F° 078
|
(In ARS million)
|
9M 23
|
9M 22
|
YoY Var
|
Revenues
|
110,484
|
116,602
|
(5.2)%
|
Costs
|
(65,610)
|
(82,472)
|
(20.4)%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
(670)
|
27,443
|
(102.4)%
|
Changes
in the net realizable value of agricultural produce after
harvest
|
(412)
|
(2,605)
|
(84.2)%
|
Gross profit
|
43,792
|
58,968
|
(25.7)%
|
Net
gain from fair value adjustment on investment
properties
|
(34,790)
|
(20,219)
|
72.1%
|
Gain
from disposal of farmlands
|
688
|
9,565
|
(92.8)%
|
General
and administrative expenses
|
(12,200)
|
(10,732)
|
13.7%
|
Selling
expenses
|
(8,062)
|
(9,114)
|
(11.5)%
|
Other
operating results, net
|
(5,175)
|
(3,061)
|
69.1%
|
Management
Fee
|
(2,333)
|
(4,678)
|
(50.1)%
|
Result from operations
|
(18,080)
|
20,729
|
(187.2)%
|
Depreciation
and Amortization
|
6,111
|
5,397
|
13.2%
|
EBITDA (unaudited)
|
(11,969)
|
26,126
|
(145.8)%
|
Adjusted EBITDA (unaudited)
|
23,696
|
46,621
|
(49.2)%
|
Loss
from joint ventures and associates
|
562
|
(1,079)
|
-
|
Result from operations before financing and taxation
|
(17,518)
|
19,650
|
(189.2)%
|
Financial
results, net
|
16,441
|
34,474
|
(52.3)%
|
Result before income tax
|
(1,077)
|
54,124
|
(102.0)%
|
Income
tax expense
|
37,408
|
10,550
|
254.6%
|
Result for the period
|
36,331
|
64,674
|
(43.8)%
|
|
|
|
|
Attributable to
|
|
|
|
Equity
holder of the parent
|
20,487
|
40,026
|
(48.8)%
|
Non-controlling
interest
|
15,844
|
24,648
|
(35.7)%
|
9M 2023
|
Agribusiness
|
Urban Properties and Investments
|
Total
|
9M 23 vs. 9M 22
|
Revenues
|
57,147
|
43,529
|
100,676
|
(8.2)%
|
Costs
|
(47,130)
|
(7,806)
|
(54,936)
|
(25.9)%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
(843)
|
-
|
(843)
|
(103.1)%
|
Changes
in the net realizable value of agricultural produce after
harvest
|
(412)
|
-
|
(412)
|
(84.2)%
|
Gross profit
|
8,762
|
35,723
|
44,485
|
(25.8)%
|
Net
gain from fair value adjustment on investment
properties
|
(74)
|
(35,591)
|
(35,665)
|
58.6%
|
Gain
from disposal of farmlands
|
688
|
-
|
688
|
(92.8)%
|
General
and administrative expenses
|
(4,776)
|
(7,568)
|
(12,344)
|
13.3%
|
Selling
expenses
|
(5,435)
|
(2,933)
|
(8,368)
|
(11.9)%
|
Other
operating results, net
|
(418)
|
(4,812)
|
(5,230)
|
67.6%
|
Result from operations
|
(1,253)
|
(15,181)
|
(16,434)
|
(170.0)%
|
Share
of profit of associates
|
(816)
|
1,925
|
1,109
|
253.2%
|
Segment result
|
(2,069)
|
(13,256)
|
(15,325)
|
(164.4)%
|
|
Productive Lands
|
|
|
|
|
Agricultural
|
Cattle
|
Reserved
|
Total
|
Argentina
|
68,043
|
140,050
|
325,987
|
534,080
|
Brazil
|
61,584
|
10,338
|
85,488
|
157,410
|
Bolivia
|
8,776
|
0
|
1,244
|
10,020
|
Paraguay
|
13,166
|
3,146
|
42,411
|
58,723
|
Total
|
151,569
|
153,534
|
455,130
|
760,233
|
|
Agricultural
|
Cattle
|
Other
|
Total
|
Argentina
|
54,012
|
10,896
|
-
|
64,908
|
Brazil
|
45,869
|
2,925
|
10,298
|
59,092
|
Total
|
99,881
|
13,821
|
10,298
|
124,000
|
in ARS million
|
9M 23
|
9M 22
|
Var a/a
|
Revenues
|
-
|
-
|
100.0%
|
Costs
|
(52)
|
(69)
|
(24.6)%
|
Gross loss
|
(52)
|
(69)
|
(24.6)%
|
Net
gain from fair value adjustment on investment
properties
|
(74)
|
844
|
(108.8)%
|
Gain
from disposal of farmlands
|
688
|
9,565
|
(92.8)%
|
General
and administrative expenses
|
(8)
|
(10)
|
(20.0)%
|
Selling
expenses
|
(5)
|
(319)
|
(98.4)%
|
Other
operating results, net
|
(888)
|
194
|
(557.7)%
|
Profit from operations
|
(339)
|
10,205
|
(103.3)%
|
Segment profit
|
(339)
|
10,205
|
(103.3)%
|
EBITDA
|
(327)
|
10,218
|
(103.2)%
|
Adjusted EBITDA
|
(253)
|
7,625
|
(103.3)%
|
in ARS million
|
9M 23
|
9M 22
|
YoY Var
|
Revenues
|
39,836
|
60,478
|
(34.1)%
|
Costs
|
(36,119)
|
(54,973)
|
(34.3)%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
(843)
|
27,043
|
(103.1)%
|
Changes
in the net realizable value of agricultural produce after
harvest
|
(412)
|
(2,605)
|
(84.2)%
|
Gross result
|
2,462
|
29,943
|
(91.8)%
|
General
and administrative expenses
|
(2,509)
|
(2,645)
|
(5.1)%
|
Selling
expenses
|
(3,873)
|
(5,156)
|
(24.9)%
|
Other
operating results, net
|
93
|
(3,458)
|
-
|
Results from operations
|
(3,827)
|
18,684
|
(120.5)%
|
Results
from associates
|
(207)
|
289
|
(171.6)%
|
Segment results
|
(4,034)
|
18,973
|
(121.3)%
|
EBITDA
|
865
|
22,698
|
(96.2)%
|
Adjusted EBITDA
|
865
|
22,698
|
(96.2)%
|
in ARS million
|
9M 23
|
9M 22
|
YoY Var
|
Revenues
|
28,150
|
40,892
|
(31.2)%
|
Costs
|
(25,556)
|
(38,692)
|
(34.0)%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
2,950
|
19,106
|
(84.6)%
|
Changes
in the net realizable value of agricultural produce after
harvest
|
(412)
|
(2,605)
|
(84.2)%
|
Gross result
|
5,132
|
18,701
|
(72.6)%
|
General
and administrative expenses
|
(1,717)
|
(1,614)
|
6.4%
|
Selling
expenses
|
(3,167)
|
(4,474)
|
(29.2)%
|
Other
operating results, net
|
(351)
|
(3,524)
|
(90.0)%
|
Result from operations
|
(103)
|
9,089
|
(101.1)%
|
Results
from associates
|
(204)
|
285
|
(171.6)%
|
Activity result
|
(307)
|
9,374
|
(103.3)%
|
in ARS million
|
9M 23
|
9M 22
|
YoY Var
|
Revenues
|
7,306
|
14,184
|
(48.5)%
|
Costs
|
(7,032)
|
(11,553)
|
(39.1)%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
(371)
|
7,939
|
(104.7)%
|
Gross result
|
(97)
|
10,570
|
(100.9)%
|
General
and administrative expenses
|
(431)
|
(435)
|
(0.9)%
|
Selling
expenses
|
(362)
|
(243)
|
49.0%
|
Other
operating results, net
|
410
|
51
|
703.9%
|
Result from operations
|
(480)
|
9,943
|
(104.8)%
|
Activity result
|
(480)
|
9,943
|
(104.8)%
|
Production Volume (1)
|
9M 23
|
9M 22
|
9M 21
|
9M 20
|
9M 19
|
Corn
|
170,503
|
240,458
|
199,438
|
299,918
|
134,618
|
Soybean
|
153,662
|
157,916
|
104,217
|
119,574
|
101,351
|
Wheat
|
21,594
|
35,502
|
36,669
|
43,925
|
37,596
|
Sorghum
|
1,987
|
2,921
|
503
|
3,229
|
1,267
|
Sunflower
|
6,021
|
3,560
|
4,596
|
1,954
|
5,384
|
Cotton
|
4,396
|
3,094
|
6,818
|
3,519
|
-
|
Other
|
8,693
|
9,557
|
5,366
|
5,619
|
1,946
|
Total Crops (tons)
|
366,856
|
453,008
|
357,607
|
477,738
|
282,162
|
Sugarcane (tons)
|
1,287,194
|
1,532,906
|
1,669,521
|
1,634,521
|
1,431,110
|
Volume of
|
9M 23
|
9M 22
|
9M 21
|
9M 20
|
9M 19
|
||||||||||
Sales (1)
|
D.M.
|
F.M.
|
Total
|
D.M.
|
F.M.
|
D.M.
|
F.M.
|
Total
|
D.M.
|
F.M.
|
D.M.
|
F.M.
|
Total
|
D.M.
|
F.M.
|
Corn
|
162.2
|
92.6
|
254.8
|
239.8
|
65.3
|
305.1
|
233.9
|
70.0
|
303.9
|
284.7
|
54.3
|
339.0
|
130.7
|
-
|
130.7
|
Soybean
|
66.4
|
63.6
|
130.0
|
150.3
|
50.6
|
200.9
|
117.5
|
23.3
|
140.8
|
156.1
|
72.5
|
228.6
|
71.1
|
45.6
|
116.7
|
Wheat
|
15.4
|
-
|
15.4
|
31.2
|
1.3
|
32.5
|
29.2
|
1.3
|
30.5
|
39.5
|
-
|
39.5
|
30.3
|
-
|
30.3
|
Sorghum
|
13.2
|
-
|
13.2
|
22.7
|
-
|
22.7
|
-
|
-
|
-
|
-
|
-
|
-
|
0.4
|
-
|
0.4
|
Sunflower
|
1.4
|
-
|
1.4
|
1.6
|
-
|
1.6
|
2.7
|
-
|
2.7
|
8.5
|
-
|
8.5
|
2.2
|
-
|
2.2
|
Cotton
|
6.4
|
-
|
6.4
|
4.4
|
-
|
4.4
|
6.4
|
-
|
6.4
|
2.5
|
1.9
|
4.4
|
-
|
-
|
-
|
Others
|
8.2
|
-
|
8.2
|
7.6
|
1.4
|
9.0
|
5.3
|
1.0
|
6.3
|
6.1
|
-
|
6.1
|
0.6
|
-
|
0.6
|
Total Crops (thousands of tons)
|
273.1
|
156.2
|
429.3
|
457.6
|
118.6
|
576.2
|
395.0
|
95.6
|
490.6
|
497.4
|
128.7
|
626.1
|
235.3
|
45.6
|
280.9
|
Sugarcane (thousands of tons)
|
1,161.0
|
-
|
1,161.0
|
1,387.7
|
-
|
1,387.7
|
1,560.3
|
-
|
1,560.3
|
1,572.8
|
-
|
1,572.8
|
1,414.6
|
-
|
1,414.6
|
Area in
Operation (hectares) (1)
|
As of 03/31/23
|
As of 03/31/22
|
YoY Var
|
Own
farms
|
113,408
|
113,866
|
(0.4)%
|
Leased
farms
|
122,293
|
121,983
|
0.3%
|
Farms
under concession
|
22,314
|
22,121
|
0.9%
|
Own
farms leased to third parties
|
27,975
|
23,778
|
17.7%
|
Total Area Assigned to Production
|
285,990
|
281,748
|
1.5%
|
Production Volume
|
9M 23
|
9M 22
|
9M 21
|
9M 20
|
9M 19
|
Cattle
herd (tons)
|
7,118
|
6,538
|
7,546
|
9,016
|
8,655
|
Cattle (tons)
|
7,118
|
6,538
|
7,546
|
9,016
|
8,655
|
Volume of
|
9M 23
|
9M 22
|
9M 21
|
9M 20
|
9M 19
|
||||||||||
Sales (1)
|
M.L
|
M.L
|
M.E
|
Total
|
M.L
|
M.L
|
M.E
|
Total
|
M.L
|
M.L
|
M.E
|
Total
|
M.L
|
M.E
|
Total
|
Cattle
herd
|
7.8
|
-
|
7.8
|
8.7
|
-
|
8.7
|
11.9
|
-
|
11.9
|
12.3
|
-
|
12.3
|
6.7
|
-
|
6.7
|
Cattle (thousands of tons)
|
7.8
|
-
|
7.8
|
8.7
|
-
|
8.7
|
11.9
|
-
|
11.9
|
12.3
|
-
|
12.3
|
6.7
|
-
|
6.7
|
In ARS Million
|
9M 23
|
9M 22
|
Var a/a
|
Revenues
|
3,393
|
4,597
|
(26.2)%
|
Costs
|
(2,913)
|
(3,833)
|
(24.0)%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce
|
(3,422)
|
(2)
|
171,000.0%
|
Changes
in the net realizable value of agricultural produce after
harvest
|
-
|
-
|
100.0%
|
Gross Loss
|
-2,942)
|
762
|
(486.1)%
|
General
and administrative expenses
|
(239)
|
(243)
|
(1.6)%
|
Selling
expenses
|
(247)
|
(239)
|
3.3%
|
Other
operating results, net
|
31
|
(22)
|
-
|
Loss from operations
|
(3,397)
|
258
|
(1,416.7)%
|
Results
from associates
|
(3)
|
4
|
(175.0)%
|
Activity Loss
|
(3,400)
|
262
|
(1,397.7)%
|
Area in operation – Cattle (hectares) (1)
|
As of 03/31/23
|
As of 03/31/22
|
YoY Var
|
Own
farms
|
68,785
|
63,123
|
9.0%
|
Leased
farms
|
10,896
|
12,590
|
(13.5)%
|
Farms
under concession
|
2,604
|
2,845
|
(8.5)%
|
Own
farms leased to third parties
|
70
|
1,325
|
(94.7)%
|
Total Area Assigned to Cattle Production
|
82,355
|
79,883
|
3.1%
|
Stock of Cattle Heard
|
As of 03/31/23
|
As of 03/31/22
|
YoY Var
|
Breeding
stock
|
72,945
|
65,533
|
11.3%
|
Winter
grazing stock
|
5,144
|
4,922
|
4.5%
|
Sheep
stock
|
14,734
|
12,642
|
16.5%
|
Total Stock (heads)
|
92,823
|
83,097
|
11.7%
|
In ARS Million
|
9M 23
|
9M 22
|
YoY Var
|
Revenues
|
987
|
805
|
22.6%
|
Costs
|
(618)
|
(895)
|
(30.9)%
|
Gross Result
|
369
|
(90)
|
-
|
General
and Administrative expenses
|
(122)
|
(353)
|
(65.4)%
|
Selling
expenses
|
(97)
|
(200)
|
(51.5)%
|
Other
operating results, net
|
3
|
37
|
(91.9)%
|
Result from operations
|
153
|
(606)
|
-
|
Activity Result
|
153
|
(606)
|
-
|
In ARS Million
|
9M 23
|
9M 22
|
YoY Var
|
Revenues
|
17,311
|
17,247
|
0.4%
|
Costs
|
(10,959)
|
(12,164)
|
(9.9)%
|
Gross Result
|
6,352
|
5,083
|
25.0%
|
General
and administrative expenses
|
(1,397)
|
(784)
|
78.2%
|
Selling
expenses
|
(1,557)
|
(1,273)
|
22.3%
|
Other
operating results, net
|
377
|
341
|
10.6%
|
Result from operations
|
3,775
|
3,367
|
12.1%
|
Profit
from associates
|
(609)
|
170
|
(458.2)%
|
Segment Result
|
3,166
|
3,537
|
(10.5)%
|
EBITDA
|
3,979
|
3,543
|
12.3%
|
Adjusted EBITDA
|
3,979
|
3,543
|
12.3%
|
In ARS Million
|
9M 23
|
9M 22
|
YoY Var
|
General
and administrative expenses
|
(862)
|
(948)
|
(9.1)%
|
Loss from operations
|
(862)
|
(948)
|
(9.1)%
|
Segment loss
|
(862)
|
(948)
|
(9.1)%
|
EBITDA
|
(859)
|
(923)
|
(6.9)%
|
Adjusted EBITDA
|
(859)
|
(923)
|
(6.9)%
|
In ARS million
|
9M 23
|
9M 22
|
YoY Var
|
Revenues
|
53,812
|
39,678
|
35.6%
|
Results
from operations
|
(14,564)
|
(5,977)
|
143.7%
|
EBITDA
|
(13,896)
|
(6,641)
|
109.2%
|
Adjusted EBITDA
|
31,462
|
26,049
|
20.8%
|
Segment Result
|
(13,256)
|
(7,974)
|
66.2%
|
Description
|
Currency
|
Amount (USD MM)(1)
|
Interest Rate
|
Maturity
|
Loans
and bank overdrafts
|
ARS
|
90.9
|
Variable
|
<
360 days
|
Series
XXX
|
USD
|
25.0
|
2.00%
|
Aug-23
|
Series
XXXI
|
USD
|
0.8
|
9.00%
|
Nov-23
|
Series
XXXIX
|
ARS
|
24.5
|
Private
Badlar + 1%
|
Feb-24
|
Series
XXXIV
|
USD
|
23.9
|
6.99%
|
Jun-24
|
Series
XXXIII
|
USD
|
12.6
|
6.99%
|
Jul-24
|
Series
XXXV
|
USD
|
41.8
|
3.50%
|
Sep-24
|
Series
XXXVI
|
USD
|
40.6
|
2.00%
|
Feb-25
|
Series
XXXVII
|
USD
|
24.4
|
5,50%
|
Mar-25
|
Series
XXXVIII
|
USD
|
70.6
|
8.00%
|
Mar-26
|
Series
XL
|
USD
|
38,2
|
0%
|
Dec-26
|
Other
debt
|
|
32.0
|
-
|
-
|
CRESUD’s Total Debt (2)
|
USD
|
424.9
|
|
|
Cash and cash equivalents (2)
|
USD
|
4.6
|
|
|
CRESUD’s Net Debt
|
USD
|
420.3
|
|
|
Brasilagro’s Net Debt
|
USD
|
79.4
|
|
|
Description
|
Currency
|
Amount (USD MM) (1)
|
Interest Rate
|
Maturity
|
Bank
overdrafts
|
ARS
|
35.0
|
Floating
|
<
360 days
|
Series
VIII
|
USD
|
10.3
|
10.0%
|
Nov-23
|
Series
XI
|
USD
|
12.8
|
5.0%
|
Mar-24
|
Series
XII
|
ARS
|
47.6
|
Floating
|
Mar-24
|
Series
XIII
|
USD
|
29.6
|
3.9%
|
Aug-24
|
Series
XIV
|
USD
|
156.0
|
8.75%
|
Jun-28
|
Series
XV
|
USD
|
61.7
|
8.0%
|
Mar-25
|
Series
XVI
|
USD
|
28.3
|
7.0%
|
Jul-25
|
IRSA’s Total Debt
|
USD
|
381.3
|
|
|
Cash & Cash Equivalents + Investments
(2)
|
USD
|
185.3
|
|
|
IRSA’s Net Debt
|
USD
|
196.0
|
|
|
In ARS million
|
Mar-23
|
Mar-22
|
Mar-21
|
Mar-20
|
Mar-19
|
Current
assets
|
165,928
|
179,124
|
181,325
|
874,322
|
1,022,718
|
Non-current
assets
|
681,786
|
689,523
|
757,184
|
1,698,275
|
2,443,947
|
Total assets
|
847,714
|
868,647
|
938,509
|
2,572,597
|
3,466,665
|
Current
liabilities
|
141,550
|
156,832
|
238,771
|
663,384
|
604,753
|
Non-current
liabilities
|
330,492
|
388,232
|
376,494
|
1,534,275
|
2,168,299
|
Total liabilities
|
472,042
|
545,064
|
615,265
|
2,197,659
|
2,773,052
|
Total
capital and reserves attributable to the shareholders of the
controlling company
|
160,329
|
117,680
|
112,463
|
40,662
|
181,694
|
Minority
interests
|
215,343
|
205,903
|
210,781
|
334,276
|
511,919
|
Shareholders’ equity
|
375,672
|
323,583
|
323,244
|
374,938
|
693,613
|
Total liabilities plus minority interests plus shareholders’
equity
|
847,714
|
868,647
|
938,509
|
2,572,597
|
3,466,665
|
In ARS million
|
Mar-23
|
Mar-22
|
Mar-21
|
Mar-20
|
Mar-19
|
Gross
profit
|
43,792
|
58,968
|
50,053
|
57,221
|
53,617
|
Loss from operations
|
(18,080)
|
20,729
|
5,843
|
53,231
|
(6,472)
|
Results
from associates and joint ventures
|
562
|
(1,079)
|
(6,442)
|
2,616
|
(6,133)
|
Results
from operations before financing and taxation
|
(17,518)
|
19,650
|
(599)
|
55,847
|
(12,605)
|
Financial
results, net
|
16,441
|
34,474
|
4,143
|
(71,544)
|
(38,597)
|
Profit
before income tax
|
(1,077)
|
54,124
|
3,544
|
(15,697)
|
(51,202)
|
Income
tax expense
|
37,408
|
10,550
|
(9,147)
|
(14,086)
|
13,989
|
Result
of the period of continuous operations
|
36,331
|
64,674
|
(5,603)
|
(29,783)
|
(37,213)
|
Result
of discontinued operations after taxes
|
-
|
-
|
(23,275)
|
(3,342)
|
(27,593)
|
Result for the period
|
36,331
|
64,674
|
(28,878)
|
(33,125)
|
(64,806)
|
Controlling
company’s shareholders
|
20,487
|
40,026
|
(14,576)
|
(45,450)
|
(44,962)
|
Non-controlling
interest
|
15,844
|
24,648
|
(14,302)
|
12,325
|
(19,844)
|
In ARS million
|
Mar-23
|
Mar-22
|
Mar-21
|
Mar-20
|
Mar-19
|
Net
cash generated by (used in) operating activities
|
6,480
|
20,365
|
(15,895)
|
115,391
|
51,016
|
Net
cash generated by investment activities
|
16,433
|
22,212
|
183,642
|
71,870
|
44,611
|
Net
cash used in financing activities
|
(53,862)
|
(63,854)
|
(121,448)
|
(299,632)
|
(58,110)
|
Total net cash (used in) / generated during the fiscal
period
|
(30,949)
|
(21,277)
|
46,299
|
(112,371)
|
37,517
|
In ARS million
|
Mar-23
|
Mar-22
|
Mar-21
|
Mar-20
|
Mar-19
|
Liquidity (1)
|
1.172
|
1.142
|
0.759
|
1.318
|
1.691
|
Solvency (2)
|
0.796
|
0.594
|
0.525
|
0.171
|
0.250
|
Restricted capital (3)
|
0.804
|
0.794
|
0.807
|
0.660
|
0.705
|
Profitability (4)
|
0.097
|
0.200
|
(0.089)
|
(0.088)
|
80.093)
|