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Name | Symbol | Market | Type |
---|---|---|---|
Cresud S A C I F y A | NASDAQ:CRESY | NASDAQ | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.13 | -1.53% | 8.36 | 7.84 | 8.60 | 8.53 | 8.30 | 8.44 | 124,761 | 01:00:00 |
Denomination: Cresud Sociedad
Anónima, Comercial, Inmobiliaria, Financiera y
Agropecuaria
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Fiscal year N°: 91,
beginning on July 1, 2023
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|
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Legal address: Carlos Della
Paolera 261, 9rd floor – Autonomous City of Buenos Aires,
Argentina
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Company activity: Real estate
and agricultural activities
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Date of registration of the by-laws in the Public Registry of
Commerce: February 19,
1937
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Date of registration of last amendment of the by-laws in the Public
Registry of Commerce: Ordinary
and Extraordinary General Assembly of October 28, 2022 registered
in the General Inspection of Justice on December 5, 2022 under
Number 22602 of Book 110 T- of Stock Companies.
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Expiration of Company charter: June 6, 2082
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||
Registration number with the Supervisory Board of Companies:
26, folio 2, book 45, Stock
Companies
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||
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||
Stock: 594,304,406 common
shares
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||
|
||
Common stock subscribed, issued and paid up nominal value (millions
of ARS): 594
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||
|
||
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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|
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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.) –
Road 8, km 17,500, Zonamérica Building 1, store 106,
Montevideo, Uruguay (Consultores Venture Capital Uruguay
S.A.).
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|
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Parent companies' activity:
Investment
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||
|
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Direct and indirect participation of the Control Group over the
capital: 230,771,682
shares
|
||
|
||
Voting stock (direct and indirect equity interest):
38.96% (*)
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|
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Type of stock
|
CAPITAL STATUS
|
|
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
|
594,304,406 (**)
|
594
|
|
||
|
||
(*) 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
|
8
|
Note
3 - Seasonal effects on operations
|
9
|
Note
4 - Acquisitions and disposals
|
9
|
Note
5 - Financial risk management and fair value estimates
|
12
|
Note
6 - Segment information
|
12
|
Note
7 - Investments in associates and joint ventures
|
17
|
Note
8 - Investment properties
|
19
|
Note
9 - Property, plant and equipment
|
21
|
Note
10 - Trading properties
|
22
|
Note
11 - Intangible assets
|
22
|
Note
12 - Right-of-use assets
|
22
|
Note
13 - Biological assets
|
23
|
Note
14 - Inventories
|
24
|
Note
15 - Financial instruments by category
|
24
|
Note
16 - Trade and other receivables
|
26
|
Note
17 - Cash flow and cash equivalents information
|
27
|
Note
18 - Trade and other payables
|
28
|
Note
19 - Provisions
|
28
|
Note
20 - Borrowings
|
29
|
Note
21 - Taxation
|
30
|
Note
22 - Revenues
|
31
|
Note
23 - Costs
|
31
|
Note
24 - Expenses by nature
|
32
|
Note
25 - Other operating results, net
|
32
|
Note
26 - Financial results, net
|
32
|
Note
27 - Related parties transactions
|
33
|
Note
28 - CNV General Resolution N° 622
|
34
|
Note
29 - Cost of sales and services provided
|
35
|
Note
30 - Foreign currency assets and liabilities
|
36
|
Note
31 - Result from discontinued operations
|
37
|
Note
32 - Subsequent Events
|
43
|
Terms
|
|
Definitions
|
BHSA
|
|
Banco Hipotecario S.A.
|
CAMSA
|
|
Consultores Assets Management S.A.
|
CCL
|
|
Cash settlement
|
CNV
|
|
Securities Exchange Commission (Argentina)
|
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
|
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.
|
MEP
|
|
Electronic Payment Market
|
New Lipstick
|
|
New Lipstick LLC
|
IAS
|
|
International Accounting Standards
|
IFRS
|
|
International Financial Reporting Standards
|
NIS
|
|
New Israeli Shekel
|
Quality
|
|
Quality Invest S.A.
|
|
Note
|
03.31.2024
|
06.30.2023
|
ASSETS
|
|
|
|
Non-current assets
|
|
|
|
Investment
properties
|
8
|
1,398,162
|
1,837,232
|
Property,
plant and equipment
|
9
|
484,142
|
456,093
|
Trading
properties
|
10
|
17,373
|
18,911
|
Intangible
assets
|
11
|
61,248
|
31,232
|
Group
of assets held for sale
|
|
6,075
|
-
|
Right-of-use
assets
|
12
|
63,065
|
58,720
|
Biological
assets
|
13
|
27,757
|
29,156
|
Investment
in associates and joint ventures
|
7
|
131,911
|
124,339
|
Deferred
income tax assets
|
21
|
8,529
|
4,475
|
Income
tax credit
|
|
6
|
69
|
Restricted
assets
|
15
|
3,990
|
3,767
|
Trade
and other receivables
|
16
|
90,703
|
105,632
|
Investment
in financial assets
|
15
|
10,086
|
6,470
|
Derivative
financial instruments
|
15
|
1,591
|
1,227
|
Total non-current assets
|
|
2,304,638
|
2,677,323
|
Current assets
|
|
|
|
Trading
properties
|
10
|
408
|
451
|
Biological
assets
|
13
|
96,769
|
58,578
|
Inventories
|
14
|
82,797
|
88,416
|
Income
tax credit
|
|
734
|
3,584
|
Trade
and other receivables
|
16
|
243,182
|
243,853
|
Investment
in financial assets
|
15
|
140,988
|
137,314
|
Derivative
financial instruments
|
15
|
12,755
|
19,308
|
Cash
and cash equivalents
|
15
|
103,653
|
122,008
|
Total current assets
|
|
681,286
|
673,512
|
TOTAL ASSETS
|
|
2,985,924
|
3,350,835
|
SHAREHOLDERS’ EQUITY
|
|
|
|
Shareholders'
equity (according to corresponding statement)
|
|
580,270
|
651,857
|
Non-controlling
interest
|
|
754,213
|
852,640
|
TOTAL SHAREHOLDERS' EQUITY
|
|
1,334,483
|
1,504,497
|
LIABILITIES
|
|
|
|
Non-current liabilities
|
|
|
|
Trade
and other payables
|
18
|
34,345
|
38,402
|
Borrowings
|
20
|
450,930
|
499,328
|
Deferred
income tax liabilities
|
21
|
462,052
|
606,213
|
Provisions
|
19
|
20,139
|
20,259
|
Payroll
and social security liabilities
|
|
1,023
|
1,062
|
Lease
liabilities
|
|
51,692
|
55,887
|
Derivative
financial instruments
|
15
|
1,818
|
145
|
Total non-current liabilities
|
|
1,021,999
|
1,221,296
|
Current liabilities
|
|
|
|
Trade
and other payables
|
18
|
214,349
|
251,880
|
Borrowings
|
20
|
325,040
|
321,816
|
Provisions
|
19
|
3,533
|
2,713
|
Payroll
and social security liabilities
|
|
14,862
|
21,290
|
Income
tax liabilities
|
|
49,906
|
5,176
|
Lease
liabilities
|
|
17,907
|
18,262
|
Derivative
financial instruments
|
15
|
3,845
|
3,905
|
Total Current liabilities
|
|
629,442
|
625,042
|
TOTAL LIABILITIES
|
|
1,651,441
|
1,846,338
|
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES
|
|
2,985,924
|
3,350,835
|
|
|
)
|
|
)
|
|
|
Marcelo H. Fuxman
Síndico Titular
Por Comisión Fiscalizadora
|
|
Alejandro
G. Elsztain
Vice
President II
|
|
|
Nine months
|
Three months
|
||
|
Note
|
03.31.2024
|
03.31.2023
|
03.31.2024
|
03.31.2023
|
Revenues
|
22
|
450,813
|
428,532
|
140,375
|
109,899
|
Costs
|
23
|
(253,640)
|
(254,482)
|
(77,460)
|
(67,039)
|
Initial
recognition and changes in the fair value of biological assets and
agricultural products at the point of harvest
|
|
5,786
|
(2,598)
|
6,358
|
9,176
|
Changes
in the net realizable value of agricultural products after
harvest
|
|
3,047
|
(1,598)
|
(7,451)
|
(3,756)
|
Gross profit
|
|
206,006
|
169,854
|
61,822
|
48,280
|
Net
(loss) / gain from fair value adjustment of investment
properties
|
8
|
(377,718)
|
(134,939)
|
(589,529)
|
1,438
|
Gain
/ (loss) from disposal of farmlands
|
|
6,254
|
2,670
|
(149)
|
-
|
General
and administrative expenses
|
24
|
(40,865)
|
(47,321)
|
(16,295)
|
(15,979)
|
Selling
expenses
|
24
|
(36,297)
|
(31,270)
|
(11,585)
|
(10,845)
|
Other
operating results, net
|
25
|
10,280
|
(20,071)
|
1,927
|
(9,674)
|
Management
fees
|
|
(884)
|
(9,048)
|
7,664
|
(3,276)
|
(Loss) / Profit from operations
|
|
(233,224)
|
(70,125)
|
(546,145)
|
9,944
|
Share
of profit / (loss) of associates and joint ventures
|
7
|
29,680
|
2,178
|
(452)
|
(1,655)
|
(Loss) / Profit before financial results and income
tax
|
|
(203,544)
|
(67,947)
|
(546,597)
|
8,289
|
Finance
income
|
26
|
45,512
|
6,311
|
32,377
|
1,127
|
Finance
cost
|
26
|
(47,293)
|
(86,856)
|
(18,972)
|
(31,287)
|
Other
financial results
|
26
|
110,987
|
80,883
|
299,950
|
44,365
|
Inflation
adjustment
|
26
|
(15,635)
|
63,434
|
(119,158)
|
8,032
|
Financial
results, net
|
26
|
93,571
|
63,772
|
194,197
|
22,237
|
(Loss) / Profit before income tax
|
|
(109,973)
|
(4,175)
|
(352,400)
|
30,526
|
Income
tax
|
21
|
84,327
|
145,093
|
141,466
|
19,559
|
(Loss) / Profit for the period
|
|
(25,646)
|
140,918
|
(210,934)
|
50,085
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
comprehensive income / (loss):
|
|
|
|
|
|
Items that may be reclassified subsequently to profit or
loss:
|
|
|
|
|
|
Currency
translation adjustment and other comprehensive results from
associates and joint ventures (i)
|
|
13,718
|
3,900
|
(194,357)
|
17,691
|
Revaluation
surplus / (deficit)
|
|
1,487
|
1,662
|
(114)
|
185
|
Total other comprehensive income / (loss) for the
period
|
15,205
|
5,562
|
(194,471)
|
17,876
|
|
Total comprehensive (loss) / income for the period
|
|
(10,441)
|
146,480
|
(405,405)
|
67,961
|
Profit / (loss) for the period attributable to:
|
|
|
|
|
|
Equity
holders of the parent
|
|
22,340
|
79,463
|
(51,652)
|
29,535
|
Non-controlling
interest
|
|
(47,986)
|
61,455
|
(159,282)
|
20,550
|
Total comprehensive income / (loss) attributable to:
|
|
|
|
|
|
Equity
holders of the parent
|
|
27,879
|
82,381
|
(121,302)
|
36,649
|
Non-controlling
interest
|
|
(38,320)
|
64,099
|
(284,103)
|
31,312
|
Profit / (loss) for the period per share attributable to equity
holders of the parent (ii):
|
|
|
|
|
|
Basic
|
|
37.73
|
135.07
|
(87.23)
|
50.20
|
Diluted
|
|
31.91
|
114.16
|
(87.23)
|
42.43
|
|
|
)
|
|
)
|
|
|
Marcelo H. Fuxman
Síndico Titular
Por Comisión Fiscalizadora
|
|
Alejandro
G. Elsztain
Vice
President II
|
|
Attributable to equity holders of the parent
|
|
|
|||||||||
|
Share capital
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding
shares
|
Treasury
shares
|
Inflation
adjustment of share capital and treasury shares (i)
|
Warrants (ii)
|
Share
premium
|
Additional
paid-in capital from treasury shares
|
Legal
reserve
|
Other
reserves (iii)
|
Retained
earnings
|
Subtotal
|
Non-controlling
interest
|
Total
Shareholders' equity
|
Balance as of June 30, 2023
|
586
|
7
|
171,694
|
15,999
|
212,696
|
(12,007)
|
16,446
|
141,141
|
105,295
|
651,857
|
852,640
|
1,504,497
|
Profit/
(loss) for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
22,340
|
22,340
|
(47,986)
|
(25,646)
|
Other
comprehensive income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
5,539
|
-
|
5,539
|
9,666
|
15,205
|
Total comprehensive income / (loss) for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
5,539
|
22,340
|
27,879
|
(38,320)
|
(10,441)
|
Assignment
of results - Shareholders’ meeting
|
-
|
-
|
-
|
-
|
-
|
-
|
6,711
|
49,734
|
(56,445)
|
-
|
-
|
-
|
Repurchase
of treasury shares
|
(1)
|
1
|
-
|
-
|
-
|
-
|
-
|
(1,079)
|
-
|
(1,079)
|
(7,697)
|
(8,776)
|
Reserve
for share - based payments
|
-
|
-
|
-
|
-
|
-
|
(470)
|
-
|
122
|
-
|
(348)
|
(640)
|
(988)
|
Dividends
distribution
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(77,779)
|
(77,779)
|
(96,386)
|
(174,165)
|
Exercise
of warrants (ii)
|
1
|
-
|
9
|
(133)
|
4,626
|
-
|
-
|
-
|
-
|
4,503
|
334
|
4,837
|
Issuance
of shares
|
6
|
(6)
|
-
|
-
|
-
|
(6,375)
|
-
|
6,375
|
-
|
-
|
-
|
-
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(24,763)
|
-
|
(24,763)
|
41,422
|
16,659
|
Other
changes in shareholders' equity
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
3,773
|
(3,773)
|
-
|
-
|
-
|
Capitalization
of irrevocable contributions
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
71
|
71
|
Integration
of irrevocable contributions
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
2,789
|
2,789
|
Balance as of March 31, 2024
|
592
|
2
|
171,703
|
15,866
|
217,322
|
(18,852)
|
23,157
|
180,842
|
(10,362)
|
580,270
|
754,213
|
1,334,483
|
|
Cost of treasury shares
|
Reserve for currency translation adjustment
|
Reserve for future dividends
|
Reserve for the acquisition of securities issued by the
Company
|
Special reserve
|
Other reserves (i)
|
Total other reserves
|
Balance as of June 30, 2023
|
(8,111)
|
18,641
|
-
|
1,654
|
107,260
|
21,697
|
141,141
|
Other
comprehensive income for the period
|
-
|
4,445
|
-
|
-
|
-
|
1,094
|
5,539
|
Total comprehensive income for the period
|
-
|
4,445
|
-
|
-
|
-
|
1,094
|
5,539
|
Assignment
of results - Shareholders’ meeting
|
-
|
-
|
49,734
|
-
|
-
|
-
|
49,734
|
Repurchase
of treasury shares
|
(1,079)
|
-
|
-
|
-
|
-
|
-
|
(1,079)
|
Issuance
of shares
|
6,375
|
-
|
-
|
-
|
-
|
-
|
6,375
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
-
|
(24,763)
|
(24,763)
|
Reserve
for share-based payments
|
477
|
-
|
-
|
-
|
-
|
(355)
|
122
|
Other
changes in shareholders' equity
|
-
|
-
|
-
|
-
|
3,773
|
-
|
3,773
|
Balance as of March 31, 2024
|
(2,338)
|
23,086
|
49,734
|
1,654
|
111,033
|
(2,327)
|
180,842
|
|
|
)
|
|
)
|
|
|
Marcelo H. Fuxman
Síndico Titular
Por Comisión Fiscalizadora
|
|
Alejandro
G. Elsztain
Vice
President II
|
|
Attributable to equity holders of the parent
|
|
|
|||||||||
|
Share capital
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding
shares
|
Treasury
shares
|
Inflation
adjustment of share capital and treasury shares (i)
|
Warrants
|
Share
premium
|
Additional
paid-in capital from treasury shares
|
Legal
reserve
|
Other
reserves (ii)
|
Retained
earnings
|
Subtotal
|
Non-controlling
interest
|
Total
Shareholders' equity
|
Balance as of June 30, 2022
|
590
|
2
|
171,681
|
16,227
|
210,895
|
1,536
|
7,759
|
4,337
|
142,950
|
555,977
|
840,932
|
1,396,909
|
Profit
for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
79,463
|
79,463
|
61,455
|
140,918
|
Other
comprehensive income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
2,918
|
-
|
2,918
|
2,644
|
5,562
|
Total comprehensive income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
2,918
|
79,463
|
82,381
|
64,099
|
146,480
|
Assignment
of results - Shareholders’ meeting
|
-
|
-
|
-
|
-
|
-
|
-
|
8,687
|
144,109
|
(152,796)
|
-
|
-
|
-
|
Repurchase
of treasury shares
|
(18)
|
18
|
-
|
-
|
-
|
-
|
-
|
(19,432)
|
-
|
(19,432)
|
(1,645)
|
(21,077)
|
Reserve
for share-based payments
|
-
|
-
|
-
|
-
|
-
|
16
|
-
|
303
|
-
|
319
|
493
|
812
|
Exercise
of warrants
|
1
|
-
|
13
|
(222)
|
1,737
|
-
|
-
|
-
|
-
|
1,529
|
36
|
1,565
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
22,153
|
-
|
22,153
|
(29,598)
|
(7,445)
|
Dividends
distribution
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(20,941)
|
(20,941)
|
(39,066)
|
(60,007)
|
Other
changes in shareholders' equity
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(119)
|
-
|
(119)
|
(89)
|
(208)
|
Incorporation
by business combination
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
88
|
88
|
Balance as of March 31, 2023
|
573
|
20
|
171,694
|
16,005
|
212,632
|
1,552
|
16,446
|
154,269
|
48,676
|
621,867
|
835,250
|
1,457,117
|
|
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
|
(2,463)
|
8,355
|
1,654
|
-
|
(3,209)
|
4,337
|
Other
comprehensive income for the period
|
-
|
1,174
|
-
|
-
|
1,744
|
2,918
|
Total comprehensive income for the period
|
-
|
1,174
|
-
|
-
|
1,744
|
2,918
|
Assignment
of results - Shareholders’ meeting
|
-
|
-
|
-
|
144,109
|
-
|
144,109
|
Repurchase
of treasury shares
|
(19,432)
|
-
|
-
|
-
|
-
|
(19,432)
|
Reserve
for share-based payments
|
-
|
-
|
-
|
-
|
303
|
303
|
Changes
in non-controlling interest
|
-
|
-
|
-
|
-
|
22,153
|
22,153
|
Other changes in
shareholders' equity
|
-
|
151
|
-
|
-
|
(270)
|
(119)
|
Balance
as of March 31, 2023
|
(21,895)
|
9,680
|
1,654
|
144,109
|
20,721
|
154,269
|
|
|
)
|
|
)
|
|
|
Marcelo H. Fuxman
Síndico Titular
Por Comisión Fiscalizadora
|
|
Alejandro
G. Elsztain
Vice
President II
|
|
Note
|
03.31.2024
|
03.31.2023
|
Operating activities:
|
|
|
|
Net
cash generated from operating activities before income tax
paid
|
17
|
66,559
|
32,887
|
Income
tax paid
|
|
(5,863)
|
(7,746)
|
Net cash generated from operating activities
|
|
60,696
|
25,141
|
Investing activities:
|
|
|
|
Proceeds from the
sale of participation in joint ventures
|
|
19,929
|
-
|
Capital
contributions to associates and joint ventures
|
|
-
|
(78)
|
Proceeds
from sales of intangible assets
|
|
8
|
-
|
Acquisition
and improvement of investment properties
|
|
(7,399)
|
(8,134)
|
Proceeds
from sales of investment properties
|
|
30,150
|
70,868
|
Acquisitions
and improvements of property, plant and equipment
|
|
(19,889)
|
(39,916)
|
Payment
of acquisitions of property, plant and equipment
|
|
(33,328)
|
-
|
Acquisition
of intangible assets
|
|
(1,354)
|
(768)
|
Proceeds
from sales of property, plant and equipment
|
|
45,776
|
35,688
|
Dividends
collected from associates and joint ventures
|
|
496
|
1,738
|
Proceeds
from loans granted
|
|
1,251
|
1,396
|
Acquisitions
of investments in financial assets
|
|
(272,425)
|
(89,163)
|
Proceeds
from disposal of investments in financial assets
|
|
322,572
|
96,490
|
Interest
received from financial assets
|
|
10,714
|
361
|
Payments
of derivative financial instruments
|
|
(1,147)
|
1,804
|
Prepayment
for investment properties purchases
|
|
-
|
(6,555)
|
Net cash generated from investing activities
|
|
95,354
|
63,731
|
Financing activities:
|
|
|
|
Borrowings,
issuance and new placement of non-convertible notes
|
|
214,653
|
228,738
|
Payment
of borrowings and non-convertible notes
|
|
(181,504)
|
(321,179)
|
Obtaining
of short term loans, net
|
|
4,230
|
32,320
|
Interest
paid
|
|
(84,124)
|
(83,097)
|
Capital
contributions from non-controlling interest in
subsidiaries
|
|
5,851
|
-
|
Lease
liabilities paid
|
|
(1,440)
|
(1,183)
|
Repurchase
of treasury shares
|
|
(8,776)
|
(21,077)
|
Dividends
paid
|
|
(143,840)
|
(45,001)
|
Exercise
of warrants
|
|
4,837
|
1,565
|
Repurchase
of non-convertible notes
|
|
(4,236)
|
-
|
Net cash used in financing activities
|
|
(194,349)
|
(208,914)
|
Net decrease in cash and cash equivalents
|
|
(38,299)
|
(120,042)
|
Cash
and cash equivalents at the beginning of the period
|
15
|
122,008
|
235,832
|
Foreign
exchange gain on cash and unrealized fair value result for cash
equivalents
|
|
31,841
|
10,744
|
Inflation
adjustment
|
|
(11,897)
|
(7,811)
|
Cash and cash equivalents at the end of the period
|
15
|
103,653
|
118,723
|
|
|
)
|
|
)
|
|
|
Marcelo H. Fuxman
Síndico Titular
Por Comisión Fiscalizadora
|
|
Alejandro
G. Elsztain
Vice
President II
|
|
As of
March 31, 2024 (nine months)
|
As of
March 31, 2024 (twelve months)
|
Price
variation
|
213%
|
288%
|
|
03.31.2024
|
||||||
|
Agricultural
business (I)
|
Urban
Properties and Investment business (II)
|
Total
segment information
|
Joint
ventures (i)
|
Adjustments
(ii)
|
Elimination
of inter-segment transactions and non-reportable assets /
liabilities (iii)
|
Total
Statement of Income and Other Comprehensive Income/ Financial
Position
|
Revenues
|
238,561
|
177,236
|
415,797
|
(935)
|
37,262
|
(1,311)
|
450,813
|
Costs
|
(184,422)
|
(31,238)
|
(215,660)
|
112
|
(38,092)
|
-
|
(253,640)
|
Initial recognition
and changes in the fair value of biological assets and agricultural
products at the point of harvest
|
5,295
|
-
|
5,295
|
-
|
-
|
491
|
5,786
|
Changes in the net
realizable value of agricultural products after
harvest
|
3,047
|
-
|
3,047
|
-
|
-
|
-
|
3,047
|
Gross profit / (loss)
|
62,481
|
145,998
|
208,479
|
(823)
|
(830)
|
(820)
|
206,006
|
Net loss from fair
value adjustment of investment properties
|
(44)
|
(377,736)
|
(377,780)
|
62
|
-
|
-
|
(377,718)
|
Gain from disposal
of farmlands
|
6,254
|
-
|
6,254
|
-
|
-
|
-
|
6,254
|
General and
administrative expenses
|
(20,459)
|
(20,744)
|
(41,203)
|
112
|
-
|
226
|
(40,865)
|
Selling
expenses
|
(25,123)
|
(11,961)
|
(37,084)
|
95
|
-
|
692
|
(36,297)
|
Other operating
results, net
|
14,132
|
(4,052)
|
10,080
|
(15)
|
313
|
(98)
|
10,280
|
Management
fees
|
-
|
-
|
-
|
-
|
(884)
|
-
|
(884)
|
Profit / (loss) from operations
|
37,241
|
(268,495)
|
(231,254)
|
(569)
|
(1,401)
|
-
|
(233,224)
|
Share of profit /
(loss) of associates and joint ventures
|
1,106
|
28,272
|
29,378
|
302
|
-
|
-
|
29,680
|
Segment profit / (loss)
|
38,347
|
(240,223)
|
(201,876)
|
(267)
|
(1,401)
|
-
|
(203,544)
|
|
|
|
|
|
|
|
|
Reportable
assets
|
726,619
|
1,559,427
|
2,286,046
|
4,311
|
-
|
695,567
|
2,985,924
|
Reportable
liabilities (*)
|
-
|
-
|
-
|
-
|
-
|
(1,651,441)
|
(1,651,441)
|
Net
reportable assets
|
726,619
|
1,559,427
|
2,286,046
|
4,311
|
-
|
(955,874)
|
1,334,483
|
|
03.31.2023
|
||||||
|
Agricultural business (I)
|
Urban Properties and Investment business (II)
|
Total segment information
|
Joint ventures (i)
|
Adjustments (ii)
|
Elimination of inter-segment transactions and non-reportable
assets / liabilities (iii)
|
Total Statement of Income and Other Comprehensive Income/
Financial Position
|
Revenues
|
221,656
|
168,834
|
390,490
|
(977)
|
41,113
|
(2,094)
|
428,532
|
Costs
|
(182,803)
|
(30,277)
|
(213,080)
|
462
|
(41,864)
|
-
|
(254,482)
|
Initial
recognition and changes in the fair value of biological assets and
agricultural products at the point of harvest
|
(3,270)
|
-
|
(3,270)
|
-
|
-
|
672
|
(2,598)
|
Changes
in the net realizable value of agricultural products after
harvest
|
(1,598)
|
-
|
(1,598)
|
-
|
-
|
-
|
(1,598)
|
Gross profit / (loss)
|
33,985
|
138,557
|
172,542
|
(515)
|
(751)
|
(1,422)
|
169,854
|
Net
loss from fair value adjustment of investment
properties
|
(287)
|
(138,044)
|
(138,331)
|
3,392
|
-
|
-
|
(134,939)
|
Gain
from disposal of farmlands
|
2,670
|
-
|
2,670
|
-
|
-
|
-
|
2,670
|
General
and administrative expenses
|
(18,525)
|
(29,354)
|
(47,879)
|
144
|
-
|
414
|
(47,321)
|
Selling
expenses
|
(21,080)
|
(11,376)
|
(32,456)
|
60
|
-
|
1,126
|
(31,270)
|
Other
operating results, net
|
(1,621)
|
(18,664)
|
(20,285)
|
(74)
|
382
|
(94)
|
(20,071)
|
Management
fees
|
-
|
-
|
-
|
-
|
(9,048)
|
-
|
(9,048)
|
(Loss) / profit from operations
|
(4,858)
|
(58,881)
|
(63,739)
|
3,007
|
(9,417)
|
24
|
(70,125)
|
Share
of (loss) / profit of associates and joint ventures
|
(3,165)
|
7,466
|
4,301
|
(2,114)
|
-
|
(9)
|
2,178
|
Segment (loss) / profit
|
(8,023)
|
(51,415)
|
(59,438)
|
893
|
(9,417)
|
15
|
(67,947)
|
|
|
|
|
|
|
|
|
Reportable
assets
|
693,340
|
1,995,222
|
2,688,562
|
(12,098)
|
-
|
611,556
|
3,288,020
|
Reportable
liabilities (*)
|
-
|
-
|
-
|
-
|
-
|
(1,830,903)
|
(1,830,903)
|
Net reportable assets
|
693,340
|
1,995,222
|
2,688,562
|
(12,098)
|
-
|
(1,219,347)
|
1,457,117
|
|
03.31.2024
|
||||
|
Agricultural
production
|
Land
transformation and sales
|
Corporate
|
Others
|
Total
Agricultural business
|
Revenues
|
163,884
|
-
|
-
|
74,677
|
238,561
|
Costs
|
(138,555)
|
(146)
|
-
|
(45,721)
|
(184,422)
|
Initial recognition
and changes in the fair value of biological assets and agricultural
products at the point of harvest
|
5,295
|
-
|
-
|
-
|
5,295
|
Changes in the net
realizable value of agricultural products after
harvest
|
3,047
|
-
|
-
|
-
|
3,047
|
Gross
profit / (loss)
|
33,671
|
(146)
|
-
|
28,956
|
62,481
|
Net loss from fair
value adjustment of investment properties
|
-
|
(44)
|
-
|
-
|
(44)
|
Gain
from disposal of farmlands
|
-
|
6,254
|
-
|
-
|
6,254
|
General and
administrative expenses
|
(11,959)
|
(37)
|
(2,665)
|
(5,798)
|
(20,459)
|
Selling
expenses
|
(17,164)
|
(82)
|
-
|
(7,877)
|
(25,123)
|
Other operating
results, net
|
6,373
|
3,876
|
-
|
3,883
|
14,132
|
Profit
/ (loss) from operations
|
10,921
|
9,821
|
(2,665)
|
19,164
|
37,241
|
Share of profit /
(loss) of associates and joint ventures
|
2,783
|
-
|
-
|
(1,677)
|
1,106
|
Segment
profit / (loss)
|
13,704
|
9,821
|
(2,665)
|
17,487
|
38,347
|
|
|
|
|
|
|
Investment
properties
|
-
|
69,468
|
-
|
-
|
69,468
|
Property, plant and
equipment
|
430,554
|
1,067
|
-
|
3,035
|
434,656
|
Investments in
associates
|
7,901
|
-
|
-
|
1,567
|
9,468
|
Other reportable
assets
|
165,431
|
6,075
|
-
|
41,521
|
213,027
|
Reportable
assets
|
603,886
|
76,610
|
-
|
46,123
|
726,619
|
|
03.31.2023
|
||||
|
Agricultural
production
|
Land
transformation and sales
|
Corporate
|
Others
|
Total
Agricultural business
|
Revenues
|
154,512
|
-
|
-
|
67,144
|
221,656
|
Costs
|
(140,094)
|
(202)
|
-
|
(42,507)
|
(182,803)
|
Initial
recognition and changes in the fair value of biological assets and
agricultural products at the point of harvest
|
(3,270)
|
-
|
-
|
-
|
(3,270)
|
Changes
in the net realizable value of agricultural products after
harvest
|
(1,598)
|
-
|
-
|
-
|
(1,598)
|
Gross
profit / (loss)
|
9,550
|
(202)
|
-
|
24,637
|
33,985
|
Net loss from fair
value adjustment of investment properties
|
-
|
(287)
|
-
|
-
|
(287)
|
Gain
from disposal of farmlands
|
-
|
2,670
|
-
|
-
|
2,670
|
General
and administrative expenses
|
(9,732)
|
(31)
|
(3,343)
|
(5,419)
|
(18,525)
|
Selling
expenses
|
(15,022)
|
(19)
|
-
|
(6,039)
|
(21,080)
|
Other
operating results, net
|
361
|
(3,444)
|
-
|
1,462
|
(1,621)
|
(Loss)
/ profit from operations
|
(14,843)
|
(1,313)
|
(3,343)
|
14,641
|
(4,858)
|
Share of loss of
associates and joint ventures
|
(803)
|
-
|
-
|
(2,362)
|
(3,165)
|
Segment
(loss) / profit
|
(15,646)
|
(1,313)
|
(3,343)
|
12,279
|
(8,023)
|
|
|
|
|
|
|
Investment
properties
|
-
|
96,005
|
-
|
-
|
96,005
|
Property,
plant and equipment
|
365,505
|
1,862
|
-
|
3,184
|
370,551
|
Investments
in associates
|
5,206
|
-
|
-
|
3,223
|
8,429
|
Other
reportable assets
|
165,399
|
9,798
|
-
|
43,158
|
218,355
|
Reportable assets
|
536,110
|
107,665
|
-
|
49,565
|
693,340
|
|
03.31.2024
|
|||||
|
Shopping Malls
|
Offices
|
Sales and developments
|
Hotels
|
Others
|
Total
|
Revenues
|
113,210
|
10,766
|
7,370
|
43,607
|
2,283
|
177,236
|
Costs
|
(6,497)
|
(580)
|
(4,158)
|
(18,205)
|
(1,798)
|
(31,238)
|
Gross profit
|
106,713
|
10,186
|
3,212
|
25,402
|
485
|
145,998
|
Net loss from fair
value adjustment of investment properties (i)
|
(13,282)
|
(113,238)
|
(251,179)
|
-
|
(37)
|
(377,736)
|
General
and administrative expenses
|
(14,292)
|
(1,354)
|
(5,658)
|
(6,056)
|
6,616
|
(20,744)
|
Selling
expenses
|
(5,837)
|
(288)
|
(2,542)
|
(2,866)
|
(428)
|
(11,961)
|
Other
operating results, net
|
(1,279)
|
(103)
|
(3,107)
|
(834)
|
1,271
|
(4,052)
|
Profit / (Loss) from operations
|
72,023
|
(104,797)
|
(259,274)
|
15,646
|
7,907
|
(268,495)
|
Share of profit of
associates and joint ventures
|
-
|
-
|
-
|
-
|
28,272
|
28,272
|
Segment profit / (loss)
|
72,023
|
(104,797)
|
(259,274)
|
15,646
|
36,179
|
(240,223)
|
|
|
|
|
|
|
|
Investment
and trading properties
|
572,683
|
227,432
|
572,191
|
-
|
2,263
|
1,374,569
|
Property,
plant and equipment
|
1,819
|
289
|
(16,012)
|
28,642
|
2,583
|
17,321
|
Investment
in associates and joint ventures
|
-
|
-
|
-
|
-
|
117,922
|
117,922
|
Other
reportable assets
|
898
|
708
|
45,620
|
574
|
1,815
|
49,615
|
Reportable assets
|
575,400
|
228,429
|
601,799
|
29,216
|
124,583
|
1,559,427
|
|
03.31.2023
|
|||||
|
Shopping Malls
|
Offices
|
Sales and developments
|
Hotels
|
Others
|
Total
|
Revenues
|
108,886
|
11,279
|
10,666
|
35,874
|
2,129
|
168,834
|
Costs
|
(7,513)
|
(935)
|
(2,901)
|
(17,202)
|
(1,726)
|
(30,277)
|
Gross profit
|
101,373
|
10,344
|
7,765
|
18,672
|
403
|
138,557
|
Net loss from fair
value adjustment of investment properties
|
(40,796)
|
(18,307)
|
(78,611)
|
-
|
(330)
|
(138,044)
|
General
and administrative expenses
|
(14,297)
|
(1,854)
|
(5,283)
|
(5,434)
|
(2,486)
|
(29,354)
|
Selling
expenses
|
(5,240)
|
(221)
|
(3,297)
|
(2,370)
|
(248)
|
(11,376)
|
Other
operating results, net
|
(927)
|
(151)
|
(2,219)
|
(442)
|
(14,925)
|
(18,664)
|
Profit / (Loss) from operations
|
40,113
|
(10,189)
|
(81,645)
|
10,426
|
(17,586)
|
(58,881)
|
Share of profit of
associates and joint ventures
|
-
|
-
|
-
|
-
|
7,466
|
7,466
|
Segment profit / (loss)
|
40,113
|
(10,189)
|
(81,645)
|
10,426
|
(10,120)
|
(51,415)
|
|
|
|
|
|
|
|
Investment
and trading properties
|
580,768
|
378,052
|
861,496
|
-
|
2,541
|
1,822,857
|
Property,
plant and equipment
|
1,482
|
11,178
|
16,089
|
29,172
|
2,769
|
60,690
|
Investment
in associates and joint ventures
|
-
|
-
|
-
|
-
|
85,238
|
85,238
|
Other
reportable assets
|
1,253
|
1,074
|
21,728
|
524
|
1,858
|
26,437
|
Reportable assets
|
583,503
|
390,304
|
899,313
|
29,696
|
92,406
|
1,995,222
|
|
03.31.2024
|
06.30.2023
|
Beginning of the period/ year
|
124,336
|
120,985
|
Share
capital increase and contributions (Note 27)
|
-
|
171
|
Sale
of interest in joint ventures (Note 27)
|
(22,022)
|
-
|
Share
of profit
|
29,680
|
4,944
|
Other
comprehensive income
|
404
|
158
|
Dividends
(Note 27)
|
(498)
|
(1,999)
|
Others
|
-
|
77
|
End of the period/ year (i)
|
131,900
|
124,336
|
|
% ownership interest
|
Value of Group's interest in equity
|
Group's interest in comprehensive income
|
|||
Name of the entity
|
03.31.2024
|
06.30.2023
|
03.31.2024
|
06.30.2023
|
03.31.2024
|
03.31.2023
|
|
|
|
|
|
|
|
New
Lipstick
|
49.96%
|
49.96%
|
1,011
|
761
|
74
|
(23)
|
BHSA
|
29.91%
|
29.91%
|
98,118
|
74,947
|
23,171
|
5,667
|
GCDI
(2)
|
27.39%
|
27.82%
|
2,644
|
6,001
|
(3,230)
|
(582)
|
Quality
(1)
|
-
|
50.00%
|
-
|
21,896
|
-
|
(2,552)
|
La
Rural S.A.
|
50.00%
|
50.00%
|
10,272
|
3,804
|
6,467
|
2,432
|
Other
associates and joint ventures
|
N/A
|
N/A
|
19,855
|
16,927
|
3,602
|
(2,764)
|
Total associates and joint ventures
|
|
|
131,900
|
124,336
|
30,084
|
2,178
|
|
|
|
|
Last financial statement issued
|
||
Name of the entity
|
Location of business / Country of incorporation
|
Main activity
|
Common shares 1 vote
|
Share capital (nominal value)
|
(Loss)/ profit for the period
|
Shareholders' equity
|
New
Lipstick
|
U.S.
|
Real
estate
|
23,631,037
|
(*) 47
|
(*) (2)
|
(*) (46)
|
BHSA
|
Argentina
|
Financing
|
448,689,072
|
(**) 1,500
|
(**) 77,461
|
(**) 320,860
|
GCDI
(2)
|
Argentina
|
Real
estate
|
250,713,162
|
915
|
(10,557)
|
9,653
|
La
Rural S.A.
|
Argentina
|
Organization of
events
|
715
|
1
|
13,077
|
20,000
|
|
03.31.2024
|
06.30.2023
|
||
|
Level 2
|
Level 3
|
Level 2
|
Level 3
|
Fair value at the beginning of the period/ year
|
1,282,901
|
554,331
|
1,470,539
|
572,410
|
Additions
|
3,108
|
4,827
|
10,395
|
8,495
|
Disposals
|
(33,327)
|
-
|
(81,339)
|
-
|
Transfers
|
(37,955)
|
(6)
|
10,189
|
2,764
|
Net
loss from fair value adjustment
|
(374,317)
|
(3,401)
|
(132,488)
|
(29,445)
|
Additions
of capitalized leasing costs
|
6
|
58
|
42
|
160
|
Amortization
of capitalized leasing costs (i)
|
(95)
|
(105)
|
(57)
|
(53)
|
Currency
translation adjustment
|
2,137
|
-
|
5,620
|
-
|
Fair value at the end of the period/ year
|
842,458
|
555,704
|
1,282,901
|
554,331
|
|
03.31.2024
|
06.30.2023
|
Leased
out farmland
|
69,468
|
82,278
|
Offices
and other rental properties
|
237,603
|
383,884
|
Shopping
malls (i)
|
572,679
|
581,468
|
Undeveloped
parcels of land
|
516,531
|
787,725
|
Properties
under development
|
1,881
|
1,877
|
Total
|
1,398,162
|
1,837,232
|
|
03.31.2024
|
03.31.2023
|
Revenues
|
172,080
|
167,742
|
Direct
operating expenses
|
(51,700)
|
(54,639)
|
Development
expenses
|
(850)
|
(589)
|
Net
unrealized loss from fair value adjustment of investment property
(i)
|
(399,278)
|
(172,822)
|
Net
realized gain from fair value adjustment of investment property
(ii)
|
21,560
|
37,883
|
|
Owner
occupied farmland
|
Bearer
plant (iii)
|
Buildings
and facilities
|
Machinery
and equipment
|
Others
(i)
|
03.31.2024
|
06.30.2023
|
Costs
|
397,045
|
31,909
|
101,366
|
34,425
|
20,447
|
585,192
|
515,203
|
Accumulated
depreciation
|
(33,889)
|
(18,102)
|
(34,889)
|
(31,044)
|
(11,175)
|
(129,099)
|
(113,725)
|
Net
book amount at the beginning of the period / year
|
363,156
|
13,807
|
66,477
|
3,381
|
9,272
|
456,093
|
401,478
|
Additions
|
16,126
|
4,482
|
4,428
|
1,236
|
1,866
|
28,138
|
80,656
|
Disposals
|
(929)
|
-
|
(10,593)
|
(6)
|
(157)
|
(11,685)
|
(23,317)
|
Currency
translation adjustment
|
14,124
|
272
|
347
|
(18)
|
263
|
14,988
|
20,710
|
Transfers
|
17,162
|
(57)
|
702
|
8
|
(702)
|
17,113
|
(8,060)
|
Transfers to assets
held for sale
|
(6,196)
|
-
|
-
|
-
|
-
|
(6,196)
|
-
|
Depreciation
charges (ii)
|
(5,435)
|
(3,401)
|
(3,194)
|
(1,066)
|
(1,213)
|
(14,309)
|
(15,374)
|
Balances
at the end of the period / year
|
398,008
|
15,103
|
58,167
|
3,535
|
9,329
|
484,142
|
456,093
|
Costs
|
437,332
|
36,606
|
96,250
|
35,645
|
21,717
|
627,550
|
585,192
|
Accumulated
depreciation
|
(39,324)
|
(21,503)
|
(38,083)
|
(32,110)
|
(12,388)
|
(143,408)
|
(129,099)
|
Net
book amount at the end of the period / year
|
398,008
|
15,103
|
58,167
|
3,535
|
9,329
|
484,142
|
456,093
|
|
Completed
properties
|
Properties
under development
|
Undeveloped
properties
|
03.31.2024
|
06.30.2023
|
Beginning of the period / year
|
1,860
|
10,165
|
7,337
|
19,362
|
21,848
|
Additions
|
-
|
390
|
48
|
438
|
993
|
Currency
translation adjustment
|
-
|
393
|
-
|
393
|
47
|
Transfers
|
-
|
-
|
-
|
-
|
(1,354)
|
Disposals
|
(60)
|
(2,352)
|
-
|
(2,412)
|
(2,172)
|
End of the period / year
|
1,800
|
8,596
|
7,385
|
17,781
|
19,362
|
|
|
|
|
|
|
Non-current
|
|
|
|
17,373
|
18,911
|
Current
|
|
|
|
408
|
451
|
Total
|
|
|
|
17,781
|
19,362
|
|
Goodwill
|
Information
systems and software
|
Future
units to receive under barter transactions and others
|
03.31.2024
|
06.30.2023
|
Costs
|
4,121
|
13,220
|
32,370
|
49,711
|
45,705
|
Accumulated
amortization
|
-
|
(11,466)
|
(7,013)
|
(18,479)
|
(16,780)
|
Net
book amount at the beginning of the period / year
|
4,121
|
1,754
|
25,357
|
31,232
|
28,925
|
Additions
|
10
|
1,186
|
6,816
|
8,012
|
5,143
|
Disposals
|
-
|
-
|
(200)
|
(200)
|
(574)
|
Transfers
|
-
|
-
|
23,120
|
23,120
|
(625)
|
Currency
translation adjustment
|
15
|
20
|
-
|
35
|
62
|
Amortization
charges (i)
|
-
|
(797)
|
(154)
|
(951)
|
(1,699)
|
Balances
at the end of the period / year
|
4,146
|
2,163
|
54,939
|
61,248
|
31,232
|
Costs
|
4,146
|
14,426
|
62,106
|
80,678
|
49,711
|
Accumulated
amortization
|
-
|
(12,263)
|
(7,167)
|
(19,430)
|
(18,479)
|
Net
book amount at the end of the period / year
|
4,146
|
2,163
|
54,939
|
61,248
|
31,232
|
|
03.31.2024
|
06.30.2023
|
Farmland
|
49,294
|
47,738
|
Convention
center
|
7,410
|
7,765
|
Offices, shopping
malls and other buildings
|
4,525
|
2,586
|
Machinery
and equipment
|
1,836
|
631
|
Right-of-use
assets
|
63,065
|
58,720
|
Non-current
|
63,065
|
58,720
|
Total
|
63,065
|
58,720
|
|
03.31.2024
|
03.31.2023
|
Farmland
|
6,983
|
10,553
|
Convention
center
|
353
|
324
|
Offices, shopping
malls and other buildings
|
852
|
383
|
Machinery and
equipment
|
479
|
201
|
Depreciation
charge of right-of-use assets (i)
|
8,667
|
11,461
|
|
Agricultural business
|
|||||||
|
Sown land-crops
|
Sugarcane fields
|
Breeding cattle and cattle for sale (i)
|
Other cattle (i)
|
Others
|
03.31.2024
|
06.30.2023
|
|
|
Level
1
|
Level
3
|
Level
3
|
Level
2
|
Level
2
|
Level
1
|
||
Net book amount at the beginning of the period / year
|
27,873
|
5,437
|
19,635
|
33,905
|
526
|
358
|
87,734
|
103,233
|
Purchases
|
-
|
-
|
-
|
5,447
|
6
|
-
|
5,453
|
3,668
|
Transfers
|
(1,087)
|
1,087
|
-
|
-
|
-
|
-
|
-
|
-
|
Initial
recognition and changes in the fair value of biological
assets
|
-
|
12,412
|
(3,620)
|
(2,975)
|
(191)
|
-
|
5,626
|
(4,220)
|
Decrease
due to harvest
|
-
|
(93,931)
|
(31,275)
|
-
|
-
|
-
|
(125,206)
|
(220,490)
|
Sales
|
-
|
-
|
-
|
(12,358)
|
(29)
|
-
|
(12,387)
|
(14,350)
|
Consumes
|
-
|
-
|
-
|
(56)
|
(2)
|
(60)
|
(118)
|
(177)
|
Costs
for the period / year
|
11,663
|
105,106
|
30,499
|
11,772
|
-
|
8
|
159,048
|
216,656
|
Currency
translation adjustment
|
5,736
|
(2,038)
|
484
|
194
|
-
|
-
|
4,376
|
3,414
|
Balances at the end of the period / year
|
44,185
|
28,073
|
15,723
|
35,929
|
310
|
306
|
124,526
|
87,734
|
Non-current
(Production)
|
-
|
-
|
-
|
27,240
|
213
|
304
|
27,757
|
29,156
|
Current
(Consumable)
|
44,185
|
28,073
|
15,723
|
8,689
|
97
|
2
|
96,769
|
58,578
|
Net
book amount at the end of the period / year
|
44,185
|
28,073
|
15,723
|
35,929
|
310
|
306
|
124,526
|
87,734
|
|
03.31.2024
|
03.31.2023
|
|
|
|
Supplies
and labors
|
121,266
|
149,450
|
Salaries,
social security costs and other personnel expenses
|
7,988
|
6,578
|
Depreciation
and amortization
|
17,492
|
17,501
|
Fees
and payments for services
|
479
|
345
|
Maintenance,
security, cleaning, repairs and others
|
1,136
|
1,043
|
Taxes,
rates and contributions
|
129
|
221
|
Leases
and service charges
|
79
|
54
|
Freights
|
868
|
1,133
|
Travelling,
library expenses and stationery
|
854
|
842
|
Other
expenses
|
8,757
|
15,141
|
|
159,048
|
192,308
|
|
03.31.2024
|
06.30.2023
|
Crops
|
40,344
|
40,396
|
Materials and
supplies
|
40,642
|
46,761
|
Sugarcane
|
1,237
|
633
|
Agricultural
inventories
|
82,223
|
87,790
|
Supplies for
hotels
|
574
|
626
|
Total
inventories
|
82,797
|
88,416
|
|
|
Financial
assets at fair value through profit or loss
|
|
|
|
||
|
Financial
assets at amortized cost
|
Level
1
|
Level
2
|
Level
3
|
Subtotal
financial assets
|
Non-financial
assets
|
Total
|
March
31, 2024
|
|
|
|
|
|
|
|
Assets
as per Statement of Financial Position
|
|
|
|
|
|
|
|
Trade and other
receivables (excluding the allowance for doubtful accounts and
other receivables) (Note 16)
|
227,578
|
38,532
|
-
|
-
|
266,110
|
71,415
|
337,525
|
Investment in
financial assets:
|
|
|
|
|
|
|
|
- Public
companies’ securities
|
-
|
16,150
|
-
|
-
|
16,150
|
-
|
16,150
|
-
Bonds
|
-
|
42,327
|
-
|
-
|
42,327
|
-
|
42,327
|
- Mutual
funds
|
-
|
71,837
|
86
|
-
|
71,923
|
-
|
71,923
|
-
Others
|
4,753
|
15,589
|
-
|
332
|
20,674
|
-
|
20,674
|
Derivative
financial instruments:
|
|
|
|
|
|
|
|
- Commodities
options contracts
|
-
|
7,280
|
-
|
-
|
7,280
|
-
|
7,280
|
- Commodities
futures contracts
|
-
|
390
|
-
|
-
|
390
|
-
|
390
|
- Bonds
futures contracts
|
-
|
15
|
-
|
-
|
15
|
-
|
15
|
-
Foreign-currency options contracts
|
-
|
694
|
-
|
-
|
694
|
-
|
694
|
-
Foreign-currency future contracts
|
-
|
3,289
|
-
|
-
|
3,289
|
-
|
3,289
|
-
Swaps
|
-
|
-
|
133
|
-
|
133
|
-
|
133
|
-
Others
|
-
|
2,545
|
-
|
-
|
2,545
|
-
|
2,545
|
Restricted assets
(i)
|
3,990
|
-
|
-
|
-
|
3,990
|
-
|
3,990
|
Cash and cash
equivalents (excluding bank overdrafts):
|
|
|
|
|
|
|
|
- Cash on
hand and at bank
|
45,325
|
-
|
-
|
-
|
45,325
|
-
|
45,325
|
- Short-term
investments
|
-
|
58,328
|
-
|
-
|
58,328
|
-
|
58,328
|
Total
assets
|
281,646
|
256,976
|
219
|
332
|
539,173
|
71,415
|
610,588
|
|
|
Financial
liabilities at fair value through profit or loss
|
|
Non-financial
liabilities
|
Total
|
|
Financial
liabilities at amortized cost
|
Level
1
|
Subtotal
financial liabilities
|
|
|
March
31, 2024
|
|
|
|
|
|
Liabilities
as per Statement of Financial Position
|
|
|
|
|
|
Trade and other
payables (Note 18)
|
160,355
|
-
|
160,355
|
88,339
|
248,694
|
Borrowings (Note
20)
|
775,970
|
-
|
775,970
|
-
|
775,970
|
Derivative
financial instruments:
|
|
|
|
|
|
- Commodities
options contracts
|
-
|
2,925
|
2,925
|
-
|
2,925
|
- Commodities
futures contracts
|
-
|
1,842
|
1,842
|
-
|
1,842
|
-
Foreign-currency options contracts
|
-
|
767
|
767
|
-
|
767
|
-
Foreign-currency future contracts
|
-
|
106
|
106
|
-
|
106
|
-
Swaps
|
-
|
23
|
23
|
-
|
23
|
Total
liabilities
|
936,325
|
5,663
|
941,988
|
88,339
|
1,030,327
|
|
|
Financial
assets at fair value through profit or loss
|
|
|
|
|
|
Financial
assets at amortized cost
|
Level
1
|
Level
2
|
Subtotal
financial assets
|
Non-financial
assets
|
Total
|
June
30, 2023
|
|
|
|
|
|
|
Assets
as per Statement of Financial Position
|
|
|
|
|
|
|
Trade and other
receivables (excluding the allowance for doubtful accounts and
other receivables) (Note 16)
|
231,456
|
46,533
|
-
|
277,989
|
76,235
|
354,224
|
Investment in
financial assets:
|
|
|
|
|
|
|
- Public
companies’ securities
|
-
|
15,811
|
-
|
15,811
|
-
|
15,811
|
-
Bonds
|
-
|
40,843
|
2,405
|
43,248
|
-
|
43,248
|
- Mutual
funds
|
-
|
78,446
|
-
|
78,446
|
-
|
78,446
|
-
Others
|
4,482
|
1,797
|
-
|
6,279
|
-
|
6,279
|
Derivative
financial instruments:
|
|
|
|
|
|
|
- Commodities
options contracts
|
-
|
655
|
-
|
655
|
-
|
655
|
- Commodities
futures contracts
|
-
|
6,461
|
-
|
6,461
|
-
|
6,461
|
-
Foreign-currency options contracts
|
-
|
864
|
-
|
864
|
-
|
864
|
-
Foreign-currency future contracts
|
-
|
5,555
|
-
|
5,555
|
-
|
5,555
|
-
Swaps
|
-
|
-
|
874
|
874
|
-
|
874
|
-
Others
|
-
|
6,126
|
-
|
6,126
|
-
|
6,126
|
Restricted assets
(i)
|
3,767
|
-
|
-
|
3,767
|
-
|
3,767
|
Cash and cash
equivalents (excluding bank overdrafts):
|
|
|
|
|
|
|
- Cash on
hand and at bank
|
29,033
|
-
|
-
|
29,033
|
-
|
29,033
|
- Short-term
investments
|
-
|
92,975
|
-
|
92,975
|
-
|
92,975
|
Total
assets
|
268,738
|
296,066
|
3,279
|
568,083
|
76,235
|
644,318
|
|
|
Financial
liabilities at fair value through profit or loss
|
|
Non-financial
liabilities
|
Total
|
|
Financial
liabilities at amortized cost
|
Level
1
|
Subtotal
financial liabilities
|
|
|
June
30, 2023
|
|
|
|
|
|
Liabilities
as per Statement of Financial Position
|
|
|
|
|
|
Trade and other
payables (Note 18)
|
193,428
|
-
|
193,428
|
96,854
|
290,282
|
Borrowings (Note
20)
|
821,144
|
-
|
821,144
|
-
|
821,144
|
Derivative
financial instruments:
|
|
|
|
|
|
- Commodities
options contracts
|
-
|
2,539
|
2,539
|
-
|
2,539
|
- Commodities
futures contracts
|
46
|
1,051
|
1,097
|
-
|
1,097
|
-
Foreign-currency future contracts
|
-
|
396
|
396
|
-
|
396
|
-
Swaps
|
-
|
18
|
18
|
-
|
18
|
Total
liabilities
|
1,014,618
|
4,004
|
1,018,622
|
96,854
|
1,115,476
|
Description
|
Pricing model / method
|
Parameters
|
Fair value hierarchy
|
Range
|
|
|
|
|
|
Derivative
financial instruments – Swaps
|
Theoretical
price
|
Underlying
asset price and volatility
|
Level
2
|
-
|
Purchase
option – Warrant (Others)
|
Black
& Scholes with dilution
|
Underlying
asset price and volatility
|
Level
3
|
-
|
|
03.31.2024
|
06.30.2023
|
Trade, leases and
services receivable (*)
|
219,721
|
232,464
|
Less: allowance for
doubtful accounts
|
(3,640)
|
(4,739)
|
Total
trade receivables
|
216,081
|
227,725
|
Prepayments
|
40,348
|
41,715
|
Borrowings,
deposits and others
|
31,128
|
29,873
|
Contributions
pending integration
|
-
|
142
|
Guarantee
deposits
|
67
|
35
|
Tax
receivables
|
25,989
|
26,132
|
Others
|
20,272
|
23,863
|
Total
other receivables
|
117,804
|
121,760
|
Total
trade and other receivables
|
333,885
|
349,485
|
|
|
|
Non-current
|
90,703
|
105,632
|
Current
|
243,182
|
243,853
|
Total
|
333,885
|
349,485
|
|
03.31.2024
|
06.30.2023
|
Beginning
of the period/ year
|
4,739
|
6,931
|
Additions
(i)
|
654
|
1,024
|
Recovery
(i)
|
(171)
|
(414)
|
Currency
translation adjustment
|
2,437
|
1,184
|
Used during the
year
|
-
|
(11)
|
Inflation
adjustment
|
(4,019)
|
(3,975)
|
End
of the period/ year
|
3,640
|
4,739
|
|
Note
|
03.31.2024
|
03.31.2023
|
(Loss) / Profit for the period
|
|
(25,646)
|
140,918
|
Adjustments for:
|
|
|
|
Income
tax
|
21
|
(84,327)
|
(145,093)
|
Amortization
and depreciation
|
24
|
6,635
|
6,202
|
Gain
from disposal of trading properties
|
|
(3,418)
|
(7,641)
|
Loss
from disposal of property, plant and equipment
|
|
1,601
|
2,113
|
Realization
of currency translation adjustment
|
|
-
|
(1,343)
|
Net
loss from fair value adjustment of investment
properties
|
|
377,718
|
134,939
|
Loss
from disposal of subsidiary and associates
|
|
1,210
|
-
|
Financial
results, net
|
|
(123,122)
|
(37,914)
|
Provisions
and allowances
|
|
(98)
|
30,037
|
Share
of profit of associates and joint ventures
|
7
|
(29,680)
|
(2,178)
|
Management
fees
|
|
884
|
9,048
|
Changes
in net realizable value of agricultural products after
harvest
|
|
(3,047)
|
1,598
|
Unrealized
initial recognition and changes in fair value of biological assets
and agricultural products at the point of harvest
|
|
(23,466)
|
(7,998)
|
Gain
from disposal of farmlands
|
|
(6,254)
|
(2,670)
|
Changes in operating assets and liabilities:
|
|
|
|
Decrease
in inventories
|
|
2,829
|
10,969
|
(Increase)/
decrease in trading properties
|
|
(217)
|
400
|
Decrease/
(increase) in biological assets
|
|
8,153
|
(167)
|
Decrease
in trade and other receivables
|
|
12,963
|
39,834
|
Decrease
in trade and other payables
|
|
(33,595)
|
(119,146)
|
Decrease
in salaries and social security liabilities
|
|
(10,569)
|
(10,903)
|
Decrease
in provisions
|
|
(331)
|
(140)
|
Decrease
in lease liabilities
|
|
(5,238)
|
(7,377)
|
Net
variation in derivative financial instruments
|
|
3,572
|
(593)
|
Decrease/
(increase) in right of use assets
|
|
2
|
(8)
|
Net cash generated from operating activities before income tax
paid
|
|
66,559
|
32,887
|
|
03.31.2024
|
03.31.2023
|
Increase
in investment properties through an increase in trade and other
payables
|
-
|
109
|
Decrease
in investment properties through an increase in property, plant and
equipment
|
10,486
|
58
|
Currency
translation adjustment and other comprehensive results from
associates and joint ventures
|
4,445
|
1,174
|
Other
changes in shareholders' equity
|
15,671
|
22,935
|
Increase
of non-convertible notes through a decrease in non-convertible
notes
|
-
|
196,743
|
Decrease
in lease liabilities through a decrease in trade and other
receivables
|
43
|
-
|
Decrease
in property, plant and equipment through an increase in investment
properties
|
7,232
|
13,812
|
Increase
in shareholders' equity through an increase in investment
properties
|
2,275
|
3,103
|
Increase
in deferred income tax liabilities through a decrease in
shareholders' equity
|
475
|
1,078
|
Decrease
in trading properties through an increase in intangible
assets
|
-
|
1,575
|
Decrease
in property, plant and equipment through an increase in
shareholders' equity
|
-
|
826
|
Decrease
in investment properties through an increase in investment in
financial assets
|
-
|
244
|
Decrease
in investment in financial assets through a decrease in trade and
other payables
|
-
|
1,152
|
Increase
in investment in financial assets through a decrease in trade and
other receivables
|
284
|
31
|
Increase
in property, plant and equipment through an increase in trade and
other payables
|
8,249
|
23,629
|
Decrease
in property, plant and equipment through an increase in trade and
other receivables
|
1,870
|
31
|
Increase
in investment in financial assets through an increase in
borrowings
|
1,382
|
-
|
Decrease
in shareholders' equity through a decrease in investment in
financial assets
|
-
|
9,698
|
Increase
in right of use assets through an increase in lease
liabilities
|
11,900
|
12,524
|
Increase
in investment in associates and joint ventures through a decrease
in trade and other receivables
|
-
|
93
|
Increase
in intangible assets through a decrease in investment
properties
|
23,120
|
-
|
Increase
in intangible assets through an increase in trade and other
payables
|
6,658
|
-
|
Decrease
in investment in associates and joint ventures through an increase
in trade and other receivables
|
1,136
|
-
|
Decrease
in investment properties through an increase in trade and other
receivables
|
2,509
|
-
|
Barter
transaction investment properties
|
594
|
-
|
Decrease
in shareholders' equity through an increase in trade and other
payables
|
4,144
|
-
|
Increase
in group of assets held for sale through a decrease in property,
plant and equipment
|
6,075
|
-
|
Decrease
in shareholders' equity through a decrease in trade and other
receivables
|
3,512
|
5,310
|
|
03.31.2024
|
06.30.2023
|
Trade
payables
|
129,175
|
115,254
|
Advances from
sales, leases and services (*)
|
50,090
|
51,454
|
Accrued
invoices
|
9,433
|
12,298
|
Deferred
income
|
413
|
456
|
Admission fees
(*)
|
23,821
|
25,602
|
Deposits in
guarantee
|
517
|
442
|
Total
trade payables
|
213,449
|
205,506
|
Dividends payable
to non-controlling interests
|
795
|
8,558
|
Tax
payables
|
14,012
|
19,340
|
Director´s
Fees
|
4,768
|
37,117
|
Management
fees
|
884
|
9,797
|
Others
|
14,786
|
9,964
|
Total
other payables
|
35,245
|
84,776
|
Total
trade and other payables
|
248,694
|
290,282
|
|
|
|
Non-current
|
34,345
|
38,402
|
Current
|
214,349
|
251,880
|
Total
|
248,694
|
290,282
|
|
Legal
claims (iii)
|
Investments
in associates and joint ventures (ii)
|
03.31.2024
|
06.30.2023
|
Beginning
of period/ year
|
22,969
|
3
|
22,972
|
4,857
|
Additions
(i)
|
5,233
|
-
|
5,233
|
25,414
|
Decreases
(i)
|
(266)
|
-
|
(266)
|
(1,182)
|
Participation in
the results
|
-
|
8
|
8
|
(48)
|
Inflation
adjustment
|
(3,951)
|
-
|
(3,951)
|
(5,856)
|
Currency
translation adjustment
|
7
|
-
|
7
|
35
|
Used during the
period / year
|
(331)
|
-
|
(331)
|
(248)
|
End
of period/ year
|
23,661
|
11
|
23,672
|
22,972
|
|
|
|
|
|
Non-current
|
|
|
20,139
|
20,259
|
Current
|
|
|
3,533
|
2,713
|
Total
|
|
|
23,672
|
22,972
|
|
Book
value
|
Fair
value
|
||
|
03.31.2024
|
06.30.2023
|
03.31.2024
|
06.30.2023
|
Non-convertible
notes
|
695,466
|
657,567
|
688,180
|
670,494
|
Bank
loans
|
63,452
|
86,161
|
63,452
|
86,161
|
Bank
overdrafts
|
6,207
|
61,967
|
6,207
|
61,967
|
Others
|
10,845
|
15,449
|
10,845
|
15,449
|
Total
borrowings
|
775,970
|
821,144
|
768,684
|
834,071
|
|
|
|
|
|
Non-current
|
450,930
|
499,328
|
|
|
Current
|
325,040
|
321,816
|
|
|
Total
|
775,970
|
821,144
|
|
|
|
03.31.2024
|
03.31.2023
|
Current
income tax
|
(66,007)
|
52,008
|
Deferred
income tax
|
150,334
|
93,085
|
Income tax from continuing operations
|
84,327
|
145,093
|
|
03.31.2024
|
03.31.2023
|
Tax
calculated at the tax rates applicable to profits in the respective
countries
|
61,121
|
1,489
|
Permanent
differences:
|
|
|
Share
of profit of joint ventures and associates
|
(6,229)
|
(322)
|
Tax
rate differential
|
(13,403)
|
(178)
|
Provision
for unrecoverability of tax loss carry-forwards
|
(1,736)
|
(9,491)
|
Difference
between affidavit and provision
|
(400)
|
15,507
|
Non-taxable
profit, non-deductible expenses and others
|
16,684
|
59,565
|
Tax
inflation adjustment
|
(48,237)
|
(37,301)
|
Fiscal
transparency
|
(3,836)
|
(5,007)
|
Inflation
adjustment permanent difference
|
74,089
|
118,195
|
Others
|
6,274
|
2,636
|
Income tax
|
84,327
|
145,093
|
|
03.31.2024
|
06.30.2023
|
Beginning of period / year
|
(601,738)
|
(784,844)
|
Currency
translation adjustment
|
(1,332)
|
(2,924)
|
Revaluation
surplus
|
(787)
|
(1,307)
|
Charged
to the Statement of Income
|
150,334
|
187,337
|
End of the period / year
|
(453,523)
|
(601,738)
|
|
03.31.2024
|
03.31.2023
|
Crops
|
115,872
|
116,075
|
Sugarcane
|
28,822
|
28,338
|
Cattle
|
15,840
|
13,160
|
Supplies
|
34,097
|
26,781
|
Consignment
|
24,461
|
18,743
|
Advertising
and brokerage fees
|
10,219
|
12,336
|
Agricultural
rental and other services
|
8,010
|
4,367
|
Income from sales and services from agricultural
business
|
237,321
|
219,800
|
Trading
properties and developments
|
5,830
|
9,490
|
Rental
and services
|
164,072
|
163,375
|
Hotel
operations, tourism services and others
|
43,590
|
35,867
|
Income from sales and services from urban properties and investment
business
|
213,492
|
208,732
|
Total revenues
|
450,813
|
428,532
|
|
03.31.2024
|
03.31.2023
|
Other
operative costs
|
149
|
205
|
Cost of property operations
|
149
|
205
|
Crops
|
96,923
|
99,123
|
Sugarcane
|
24,820
|
27,275
|
Cattle
|
12,387
|
11,299
|
Supplies
|
29,770
|
25,221
|
Consignment
|
5,642
|
9,334
|
Advertising
and brokerage fees
|
10,309
|
7,952
|
Agricultural
rental and other services
|
4,425
|
2,397
|
Cost of sales and services from agricultural business
|
184,276
|
182,601
|
Trading
properties and developments
|
3,740
|
2,237
|
Rental
and services
|
47,275
|
52,242
|
Hotel
operations, tourism services and others
|
18,200
|
17,197
|
Cost of sales and services from sales and services from urban
properties and investment business
|
69,215
|
71,676
|
Total costs
|
253,640
|
254,482
|
|
Costs
|
General
and administrative expenses
|
Selling
expenses
|
03.31.2024
|
03.31.2023
|
Change
in agricultural products and biological assets
|
114,090
|
-
|
-
|
114,090
|
119,557
|
Salaries,
social security costs and other personnel expenses
|
34,685
|
27,969
|
3,855
|
66,509
|
59,255
|
Fees
and payments for services
|
26,148
|
7,066
|
1,776
|
34,990
|
32,181
|
Cost
of sale of goods and services
|
37,126
|
-
|
-
|
37,126
|
34,132
|
Maintenance,
security, cleaning, repairs and others
|
19,807
|
3,190
|
50
|
23,047
|
22,605
|
Taxes,
rates and contributions
|
3,904
|
2,888
|
14,511
|
21,303
|
19,696
|
Advertising
and other selling expenses
|
8,656
|
56
|
1,917
|
10,629
|
12,873
|
Freights
|
18
|
312
|
8,362
|
8,692
|
7,304
|
Director's
fees (i)
|
-
|
(5,548)
|
-
|
(5,548)
|
8,805
|
Depreciation
and amortization
|
4,253
|
1,910
|
472
|
6,635
|
6,202
|
Leases
and service charges
|
1,346
|
574
|
61
|
1,981
|
2,273
|
Travelling,
library expenses and stationery
|
1,199
|
785
|
430
|
2,414
|
1,920
|
Supplies
and labors
|
858
|
-
|
2,669
|
3,527
|
877
|
Other
expenses
|
695
|
340
|
265
|
1,300
|
2,417
|
Bank
expenses
|
117
|
1,291
|
-
|
1,408
|
1,094
|
Conditioning
and clearance
|
-
|
-
|
1,434
|
1,434
|
811
|
Interaction
and roaming expenses
|
738
|
32
|
12
|
782
|
582
|
Allowance
for doubtful accounts, net
|
-
|
-
|
483
|
483
|
489
|
Total expenses by nature as of 03.31.2024
|
253,640
|
40,865
|
36,297
|
330,802
|
-
|
Total expenses by nature as of 03.31.2023
|
254,482
|
47,321
|
31,270
|
-
|
333,073
|
|
03.31.2024
|
03.31.2023
|
Gain
from commodity derivative financial instruments
|
8,184
|
892
|
Loss
from sale of property, plant and equipment
|
(1,601)
|
(2,113)
|
Realization
of currency translation adjustment (i)
|
-
|
1,343
|
Loss
from sale of joint ventures
|
(1,210)
|
-
|
Donations
|
(350)
|
(454)
|
Lawsuits
and other contingencies
|
(4,967)
|
(20,743)
|
Interest
and allowances generated by operating assets
|
8,504
|
(1,479)
|
Administration
fees
|
275
|
323
|
Others
|
1,445
|
2,160
|
Total other operating results, net
|
10,280
|
(20,071)
|
|
03.31.2024
|
03.31.2023
|
Financial income
|
|
|
Interest
income
|
45,512
|
6,311
|
Total financial income
|
45,512
|
6,311
|
Financial costs
|
|
|
Interest
expense
|
(39,993)
|
(80,908)
|
Other
financial costs
|
(7,300)
|
(5,948)
|
Total finance costs
|
(47,293)
|
(86,856)
|
Other financial results:
|
|
|
Foreign
exchange, net
|
(12,379)
|
54,655
|
Fair
value gain from financial assets and liabilities at fair value
through profit or loss
|
152,203
|
19,548
|
(Loss)/
gain from repurchase of non-convertible notes
|
(59)
|
3,324
|
(Loss)/
gain from derivative financial instruments (except
commodities)
|
(26,086)
|
4,991
|
Others
|
(2,692)
|
(1,635)
|
Total other financial results
|
110,987
|
80,883
|
Inflation
adjustment
|
(15,635)
|
63,434
|
Total financial results, net
|
93,571
|
63,772
|
Item
|
03.31.2024
|
06.30.2023
|
Trade
and other receivables
|
22,579
|
25,961
|
Investments
in financial assets
|
3,781
|
4,058
|
Trade
and other payables
|
(14,564)
|
(48,435)
|
Borrowings
|
(934)
|
(689)
|
Total
|
10,862
|
(19,105)
|
Related
party
|
03.31.2024
|
06.30.2023
|
Description
of transaction
|
Item
|
New
Lipstick
|
208
|
194
|
Reimbursement
of expenses
|
Trade and other
receivables
|
Other
associates and joint ventures (i)
|
37
|
38
|
Leases
and/or right of use assets receivable
|
Trade
and other receivables
|
|
-
|
141
|
Contributions
pending subscription
|
Trade
and other receivables
|
|
1,866
|
1,752
|
Other
investments
|
Investments
in financial assets
|
|
(441)
|
(420)
|
Non-convertible
notes
|
Borrowings
|
|
1
|
3
|
Equity
incentive plan receivable
|
Trade
and other receivables
|
|
1,494
|
2,494
|
Loans
granted
|
Trade
and other receivables
|
|
(493)
|
(269)
|
Borrowings
|
Borrowings
|
|
-
|
3
|
Reimbursement
of expenses
|
Trade and other
receivables
|
|
4
|
85
|
Management
fees receivable
|
Trade and other
receivables
|
|
(63)
|
(649)
|
Other
payables
|
Trade and other
payables
|
|
3,066
|
4,982
|
Other
receivables
|
Trade and other
receivables
|
Total associates and joint ventures
|
5,679
|
8,354
|
|
|
CAMSA
and its subsidiaries
|
(884)
|
(9,797)
|
Management
fee payables
|
Trade and other
payables
|
Yad
Levim LTD
|
16,373
|
14,850
|
Loans
granted
|
Trade and other
receivables
|
Sociedad
Rural Argentina
|
(8,674)
|
(296)
|
Other
payables
|
Trade and other
payables
|
|
-
|
1,593
|
Other
receivables
|
Trade
and other receivables
|
Other
related parties (ii)
|
1,099
|
24
|
Other
receivables
|
Trade and other
receivables
|
|
(126)
|
(93)
|
Other
payables
|
Trade and other
payables
|
|
1,915
|
2,306
|
Other
investments
|
Investments in
financial assets
|
|
26
|
78
|
Reimbursement
of expenses receivable
|
Trade and other
receivables
|
|
(31)
|
(28)
|
Legal
services
|
Trade and other
payables
|
Total other related parties
|
9,698
|
8,637
|
|
|
IFISA
|
271
|
1,476
|
Financial
operations receivables
|
Trade and other
receivables
|
Total direct parent company
|
271
|
1,476
|
|
|
Directors
and Senior Management
|
(4,786)
|
(37,572)
|
Fees
for services received
|
Trade and other
payables
|
Total Directors and Senior Management
|
(4,786)
|
(37,572)
|
|
|
Total
|
10,862
|
(19,105)
|
|
|
Related party
|
03.31.2024
|
03.31.2023
|
Description of transaction
|
Condor
|
-
|
12
|
Financial
operations
|
BHN
Vida S.A.
|
(37)
|
(4)
|
Financial
operations
|
BHN
Seguros Generales S.A.
|
(12)
|
(4)
|
Financial
operations
|
Other
associates and joint ventures
|
(3)
|
(144)
|
Leases
and/or right of use assets
|
|
162
|
217
|
Corporate
services
|
|
1,345
|
268
|
Financial
operations
|
Total associates and joint ventures
|
1,455
|
345
|
|
CAMSA
and its subsidiaries
|
(884)
|
(9,048)
|
Management
fee
|
Sociedad
Rural Argentina
|
432
|
117
|
Financial
operations
|
Other
related parties (i)
|
(75)
|
(50)
|
Leases
and/or rights of use
|
|
(696)
|
(229)
|
Fees
and remunerations
|
|
39
|
27
|
Corporate
services
|
|
(266)
|
1,024
|
Legal
services
|
|
3,447
|
(253)
|
Financial
operations
|
|
(696)
|
(310)
|
Donations
|
|
1,003
|
559
|
Income
from sales and services from agricultural business
|
Total other related parties
|
2,304
|
(8,163)
|
|
IFISA
|
6
|
70
|
Financial
operations
|
Total Parent Company
|
6
|
70
|
|
Directors
(ii)
|
3,734
|
(6,551)
|
Management
fee
|
Senior
Management
|
(398)
|
(407)
|
Compensation
of Directors and senior management
|
Total Directors and Senior Management
|
3,336
|
(6,958)
|
|
Total
|
7,101
|
(14,706)
|
|
Related party
|
03.31.2024
|
03.31.2023
|
Description of transaction
|
Quality
|
-
|
(171)
|
Irrevocable
contributions
|
Total irrevocable contributions
|
-
|
(171)
|
|
Agro-Uranga
S.A.
|
-
|
628
|
Dividends
received
|
Uranga
Trading S.A.
|
125
|
109
|
Dividends
received
|
Condor
|
-
|
325
|
Dividends
received
|
Nuevo
Puerto Santa Fe S.A.
|
373
|
675
|
Dividends
received
|
Total dividends received
|
498
|
1,737
|
|
Quality
|
(21,896)
|
-
|
Sale of
shares
|
GCDI
|
(126)
|
-
|
Sale of
shares
|
Total
sale of shares
|
(22,022)
|
-
|
|
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)
|
03.31.2024
|
03.31.2023
|
Inventories at the beginning of the period
|
48,034
|
19,362
|
67,396
|
62,948
|
Initial
recognition and changes in the fair value of biological assets and
agricultural products at the point of harvest
|
(743)
|
-
|
(743)
|
3,925
|
Changes
in the net realizable value of agricultural products after
harvest
|
3,047
|
-
|
3,047
|
(1,590)
|
Additions
|
293
|
-
|
293
|
2,459
|
Currency
translation adjustment
|
(12,836)
|
393
|
(12,443)
|
(950)
|
Harvest
|
171,833
|
-
|
171,833
|
149,097
|
Acquisitions
and classifications
|
88,606
|
70,227
|
158,833
|
180,867
|
Consume
|
(27,584)
|
-
|
(27,584)
|
(33,205)
|
Disposals
due to sales
|
-
|
(2,412)
|
(2,412)
|
(1,462)
|
Expenses
incurred
|
32,662
|
-
|
32,662
|
28,373
|
Inventories at the end of the period
|
(119,036)
|
(18,355)
|
(137,391)
|
(136,185)
|
Cost as of 03.31.2024
|
184,276
|
69,215
|
253,491
|
-
|
Cost as of 03.31.2023
|
182,601
|
71,676
|
-
|
254,277
|
Item / Currency (1)
|
Amount (2)
|
Prevailing exchange rate (3)
|
03.31.2024
|
06.30.2023
|
Assets
|
|
|
|
|
Trade and other receivables
|
|
|
|
|
US
Dollar
|
106.74
|
855.00
|
91,264
|
66,722
|
Euros
|
0.08
|
924.17
|
74
|
72
|
Uruguayan
pesos
|
-
|
-
|
-
|
3
|
Trade and other receivables related parties
|
|
|
|
|
US
Dollar
|
20.63
|
858.00
|
17,700
|
16,401
|
Total Trade and other receivables
|
|
|
109,038
|
83,198
|
Investment in financial assets
|
|
|
|
|
US
Dollar
|
101.81
|
855.00
|
87,045
|
73,202
|
Brazilian
Reais
|
-
|
-
|
-
|
573
|
New
Israel Shekel
|
4.31
|
233.29
|
1,005
|
1,094
|
Pounds
|
0.62
|
1,079.18
|
665
|
743
|
Investment in financial assets related parties
|
|
|
|
|
US
Dollar
|
4.41
|
858.00
|
3,781
|
-
|
Total Investment in financial assets
|
|
|
92,496
|
75,612
|
Derivative financial instruments
|
|
|
|
|
US
Dollar
|
1.74
|
855.00
|
1,486
|
6,652
|
Total Derivative financial instruments
|
|
|
1,486
|
6,652
|
Cash and cash equivalents
|
|
|
|
|
US
Dollar
|
50.05
|
855.00
|
42,793
|
36,386
|
Chilenean
pesos
|
61.71
|
0.88
|
54
|
-
|
Euros
|
0.01
|
924.17
|
6
|
6
|
Guaraníes
|
77.59
|
0.12
|
9
|
-
|
Brazilian
Reais
|
0.39
|
176.00
|
68
|
-
|
New
Israel Shekel
|
-
|
-
|
-
|
81
|
Pounds
|
0.003
|
1,079.18
|
3
|
3
|
Uruguayan
pesos
|
0.09
|
22.85
|
2
|
3
|
Total Cash and cash equivalents
|
|
|
42,935
|
36,479
|
Total Assets
|
|
|
245,955
|
201,941
|
|
|
|
|
|
Liabilities
|
|
|
|
|
Trade and other payables
|
|
|
|
|
US
Dollar
|
70.53
|
858.00
|
60,514
|
34,760
|
Euros
|
-
|
-
|
-
|
3
|
Uruguayan
pesos
|
80.13
|
22.85
|
1,831
|
38
|
Brazilian
Reais
|
0.11
|
186.00
|
21
|
-
|
Trade and other payables related parties
|
|
|
|
|
US
Dollar
|
10.05
|
858.00
|
8,625
|
60
|
Bolivian
pesos
|
0.34
|
124.48
|
42
|
-
|
Total Trade and other payables
|
|
|
71,033
|
34,861
|
Lease liabilities
|
|
|
|
|
US
Dollar
|
13.42
|
858.00
|
11,513
|
10,275
|
Total Lease liabilities
|
|
|
11,513
|
10,275
|
Provisions
|
|
|
|
|
New
Israel Shekel
|
82.20
|
233.29
|
19,176
|
17,347
|
Total Provisions
|
|
|
19,176
|
17,347
|
Borrowings
|
|
|
|
|
US
Dollar
|
625.51
|
858.00
|
536,686
|
581,649
|
Borrowings with related parties
|
|
|
|
|
US
Dollar
|
1.25
|
858.00
|
1,076
|
978
|
Total Borrowings
|
|
|
537,762
|
582,627
|
Derivative financial instruments
|
|
|
|
|
US
Dollar
|
0.05
|
858.00
|
42
|
332
|
Total Derivative financial instruments
|
|
|
42
|
332
|
Total Liabilities
|
|
|
639,526
|
645,442
|
PRICE WATERHOUSE & CO. S.R.L.
(Partner)
|
|
C.P.C.E.C.A.B.A. V° 1 F° 17
|
|
Carlos Brondo
Public Accountant (UNCUYO)
C.P.C.E.C.A.B.A. V. 391 F. 078
|
|
(In ARS million)
|
9M 24
|
9M 23
|
YoY Var
|
Revenues
|
450,813
|
428,532
|
5.2%
|
Costs
|
(253,640)
|
(254,482)
|
(0.3)%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
5,786
|
(2,598)
|
-
|
Changes
in the net realizable value of agricultural produce after
harvest
|
3,047
|
(1,598)
|
-
|
Gross profit
|
206,006
|
169,854
|
21.3%
|
Net
gain from fair value adjustment on investment
properties
|
(377,718)
|
(134,939)
|
179.9%
|
Gain
from disposal of farmlands
|
6,254
|
2,670
|
134.2%
|
General
and administrative expenses
|
(40,865)
|
(47,321)
|
(13.6)%
|
Selling
expenses
|
(36,297)
|
(31,270)
|
16.1%
|
Other
operating results, net
|
10,280
|
(20,071)
|
-
|
Management
Fee
|
(884)
|
(9,048)
|
(90.2)%
|
Result from operations
|
(233,224)
|
(70,125)
|
232.6%
|
Depreciation
and Amortization
|
24,127
|
23,703
|
1.8%
|
Rights
of use installments
|
(10,753)
|
(11,558)
|
(7.0)%
|
EBITDA (unaudited)
|
(219,850)
|
(57,980)
|
279.2%
|
Adjusted EBITDA (unaudited)
|
164,332
|
101,820
|
61.4%
|
Loss
from joint ventures and associates
|
29,680
|
2,178
|
1262.7%
|
Result from operations before financing and taxation
|
(203,544)
|
(67,947)
|
199.6%
|
Financial
results, net
|
93,571
|
63,772
|
46.7%
|
Result before income tax
|
(109,973)
|
(4,175)
|
2,534.1%
|
Income
tax expense
|
84,327
|
145,093
|
(41.9)%
|
Result for the period
|
(25,646)
|
140,918
|
(118.2)%
|
|
|
|
|
Attributable to
|
|
|
|
Equity
holder of the parent
|
22,340
|
79,463
|
(71.9)%
|
Non-controlling
interest
|
(47,986)
|
61,455
|
(178.1)%
|
9M 2024
|
Agribusiness
|
Urban Properties and Investments
|
Total
|
9M 24 vs. 9M 23
|
Revenues
|
238,561
|
177,236
|
415,797
|
6.5%
|
Costs
|
(184,422)
|
(31,238)
|
(215,660)
|
1.2%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
5,295
|
-
|
5,295
|
-
|
Changes
in the net realizable value of agricultural produce after
harvest
|
3,047
|
-
|
3,047
|
-
|
Gross profit
|
62,481
|
145,998
|
208,479
|
20.8%
|
Net
gain from fair value adjustment on investment
properties
|
(44)
|
(377,736)
|
(377,780)
|
173.1%
|
Gain
from disposal of farmlands
|
6,254
|
-
|
6,254
|
134.2%
|
General
and administrative expenses
|
(20,459)
|
(20,744)
|
(41,203)
|
(13.9)%
|
Selling
expenses
|
(25,123)
|
(11,961)
|
(37,084)
|
14.3%
|
Other
operating results, net
|
14,132
|
(4,052)
|
10,080
|
-
|
Result from operations
|
37,241
|
(268,495)
|
(231,254)
|
262.8%
|
Share
of profit of associates
|
1,106
|
28,272
|
29,378
|
583.1%
|
Segment result
|
38,347
|
(240,223)
|
(201,876)
|
239.6%
|
9M 2023
|
Agribusiness
|
Urban Properties and Investments
|
Total
|
Revenues
|
221,656
|
168,834
|
390,490
|
Costs
|
(182,803)
|
(30,277)
|
(213,080)
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
(3,270)
|
-
|
(3,270)
|
Changes
in the net realizable value of agricultural produce after
harvest
|
(1,598)
|
-
|
(1,598)
|
Gross profit
|
33,985
|
138,557
|
172,542
|
Net
gain from fair value adjustment on investment
properties
|
(287)
|
(138,044)
|
(138,331)
|
Gain
from disposal of farmlands
|
2,670
|
-
|
2,670
|
General
and administrative expenses
|
(18,525)
|
(29,354)
|
(47,879)
|
Selling
expenses
|
(21,080)
|
(11,376)
|
(32,456)
|
Other
operating results, net
|
(1,621)
|
(18,664)
|
(20,285)
|
Result from operations
|
(4,858)
|
(58,881)
|
(63,739)
|
Share
of profit of associates
|
(3,165)
|
7,466
|
4,301
|
Segment result
|
(8,023)
|
(51,415)
|
(59,438)
|
|
Productive Lands
|
|
|
|
|
Agricultural
|
Cattle
|
Reserved
|
Total
|
Argentina
|
72,077
|
140,335
|
318,156
|
530,568
|
Brazil
|
60,550
|
10,519
|
74,815
|
145,884
|
Bolivia
|
7,925
|
-
|
1,950
|
9,875
|
Paraguay
|
11,964
|
4,155
|
42,603
|
58,722
|
Total
|
152,516
|
155,009
|
437,524
|
745,049
|
|
Agricultural
|
Cattle
|
Other
|
Total
|
Argentina
|
44,852
|
10,896
|
-
|
55,748
|
Brazil
|
54,719
|
700
|
8,734
|
64,153
|
Bolivia
|
1,065
|
-
|
-
|
1,065
|
Total
|
100,636
|
11,596
|
8,734
|
120,966
|
in ARS million
|
9M 24
|
9M 23
|
YoY Var
|
Revenues
|
-
|
-
|
-
|
Costs
|
(146)
|
(202)
|
(27.7)%
|
Gross loss
|
(146)
|
(202)
|
(27.7)%
|
Net
gain from fair value adjustment on investment
properties
|
(44)
|
(287)
|
(84.7)%
|
Gain
from disposal of farmlands
|
6,254
|
2,670
|
134.2%
|
General
and administrative expenses
|
(37)
|
(31)
|
19.4%
|
Selling
expenses
|
(82)
|
(19)
|
331.6%
|
Other
operating results, net
|
3,876
|
(3,444)
|
-
|
Profit from operations
|
9,821
|
(1,313)
|
-
|
Segment profit
|
9,821
|
(1,313)
|
-
|
EBITDA
|
9,845
|
(1,266)
|
-
|
Adjusted EBITDA
|
9,889
|
(979)
|
-
|
in ARS million
|
9M 24
|
9M 23
|
YoY Var
|
Revenues
|
163,884
|
154,512
|
6.1%
|
Costs
|
(138,555)
|
(140,094)
|
(1.1)%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
5,295
|
(3,270)
|
-
|
Changes
in the net realizable value of agricultural produce after
harvest
|
3,047
|
(1,598)
|
-
|
Gross profit
|
33,671
|
9,550
|
252.6%
|
General
and administrative expenses
|
(11,959)
|
(9,732)
|
22.9%
|
Selling
expenses
|
(17,164)
|
(15,022)
|
14.3%
|
Other
operating results, net
|
6,373
|
361
|
1,665.4%
|
Results from operations
|
10,921
|
(14,843)
|
-
|
Results
from associates
|
2,783
|
(803)
|
-
|
Segment results
|
13,704
|
(15,646)
|
-
|
EBITDA
|
18,522
|
(8,203)
|
-
|
Adjusted EBITDA
|
14,071
|
(21,588)
|
-
|
in ARS million
|
9M 24
|
9M 23
|
YoY Var
|
Revenues
|
112,506
|
109,186
|
3.0%
|
Costs
|
(96,923)
|
(99,123)
|
(2.2)%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
11,920
|
11,442
|
4.2%
|
Changes
in the net realizable value of agricultural produce after
harvest
|
3,031
|
(1,598)
|
-
|
Gross profit
|
30,534
|
19,907
|
53.4%
|
General
and administrative expenses
|
(8,559)
|
(6,660)
|
28.5%
|
Selling
expenses
|
(15,022)
|
(12,284)
|
22.3%
|
Other
operating results, net
|
6,926
|
(1,361)
|
-
|
Profit from operations
|
13,879
|
(398)
|
-
|
Results
from associates
|
2,750
|
(791)
|
-
|
Activity Profit
|
16,629
|
(1,189)
|
-
|
in ARS million
|
9M 24
|
9M 23
|
YoY Var
|
Revenues
|
28,822
|
28,338
|
1.7%
|
Costs
|
(24,820)
|
(27,275)
|
(9.0)%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
(3,618)
|
(1,439)
|
151.4%
|
Gross profit
|
384
|
(376)
|
-
|
General
and administrative expenses
|
(1,846)
|
(1,672)
|
10.4%
|
Selling
expenses
|
(883)
|
(1,404)
|
(37.1)%
|
Other
operating results, net
|
(254)
|
1,590
|
-
|
Profit from operations
|
(2,599)
|
(1,862)
|
39.6%
|
Activity profit
|
(2,599)
|
(1,862)
|
39.6%
|
Production Volume (1)
|
9M 24
|
9M 23
|
9M 22
|
9M 21
|
9M 20'
|
Corn
|
235,400
|
170,503
|
240,458
|
199,438
|
299,918
|
Soybean
|
151,007
|
153,662
|
157,916
|
104,217
|
119,574
|
Wheat
|
28,775
|
21,594
|
35,502
|
36,669
|
43,925
|
Sorghum
|
3,154
|
1,987
|
2,921
|
503
|
3,229
|
Sunflower
|
971
|
6,021
|
3,560
|
4,596
|
1,954
|
Cotton
|
14,684
|
4,396
|
3,094
|
6,818
|
3,519
|
Other
|
15,741
|
8,693
|
9,557
|
5,366
|
5,619
|
Total Crops (tons)
|
449,732
|
366,856
|
453,008
|
357,607
|
477,738
|
Sugarcane (tons)
|
1,305,064
|
1,287,194
|
1,532,906
|
1,669,521
|
1,634,521
|
Volume of
|
9M24
|
9M23
|
9M22
|
9M21
|
9M20
|
||||||||||
Sales (1)
|
M.L
|
M.E
|
Total
|
M.L
|
M.E
|
Total
|
M.L
|
M.E
|
Total
|
M.L
|
M.E
|
Total
|
M.L
|
M.E
|
Total
|
Corn
|
199.9
|
94.4
|
294.3
|
162.2
|
92.6
|
254.8
|
239.8
|
65.3
|
305.1
|
233.9
|
70.0
|
303.9
|
284.7
|
54.3
|
339.0
|
Soybean
|
34.4
|
81.5
|
115.9
|
66.4
|
63.6
|
130.0
|
150.3
|
50.6
|
200.9
|
117.5
|
23.3
|
140.8
|
156.1
|
72.5
|
228.6
|
Wheat
|
28.4
|
-
|
28.4
|
15.4
|
-
|
15.4
|
31.2
|
1.3
|
32.5
|
29.2
|
1.3
|
30.5
|
39.5
|
-
|
39.5
|
Sorghum
|
3.7
|
-
|
3.7
|
13.2
|
-
|
13.2
|
22.7
|
-
|
22.7
|
-
|
-
|
-
|
-
|
-
|
-
|
Sunflower
|
3.5
|
-
|
3.5
|
1.4
|
-
|
1.4
|
1.6
|
-
|
1.6
|
2.7
|
-
|
2.7
|
8.5
|
-
|
8.5
|
Cotton
|
12.6
|
3.6
|
16.2
|
6.4
|
-
|
6.4
|
4.4
|
-
|
4.4
|
6.4
|
-
|
6.4
|
2.5
|
1.9
|
4.4
|
Others
|
13.0
|
-
|
13.0
|
8.2
|
-
|
8.2
|
7.6
|
1.4
|
9.0
|
5.3
|
1.0
|
6.3
|
6.1
|
-
|
6.1
|
Total Crops (thousands of tons)
|
295.5
|
179.5
|
475.0
|
273.2
|
156.2
|
429.4
|
457.6
|
118.6
|
576.2
|
395.0
|
95.6
|
490.6
|
497.4
|
128.7
|
626.1
|
Sugarcane (thousands of tons)
|
1.305.1
|
-
|
1.305.1
|
1,161.0
|
-
|
1,161.0
|
1,387.7
|
-
|
1,387.7
|
1,560.3
|
-
|
1,560.3
|
1,572.8
|
-
|
1,572.8
|
Area in
Operation (hectares) (1)
|
As of 03/31/24
|
As of 03/31/23
|
YoY Var
|
Own
farms
|
115,083
|
113,408
|
1.5%
|
Leased
farms
|
125,540
|
122,293
|
2.7%
|
Farms
under concession
|
22,087
|
22,314
|
(1.0)%
|
Own
farms leased to third parties
|
21,380
|
27,975
|
(23.6)%
|
Total Area Assigned to Production
|
284,090
|
285,990
|
(0.7)%
|
Production Volume
|
9M24
|
9M23
|
9M22
|
9M21
|
9M20
|
Cattle herd (tons)(1)
|
7,311
|
7,118
|
6,538
|
7,546
|
9,016
|
Volume of
|
9M 24
|
9M 23
|
9M 22
|
9M 21
|
9M 20
|
|||||||||
Sales (1)
|
D.M F.M
|
Total
|
D.M
|
F.M
|
Total
|
D.M
|
F.M
|
Total
|
D.M
|
F.M
|
Total
|
D.M
|
F.M
|
Total
|
Cattle herd
|
9.5
|
9.5
|
7.8
|
-
|
7.8
|
8.7
|
-
|
8.7
|
11.9
|
-
|
11.9
|
12.3
|
-
|
12.3
|
In ARS Million
|
9M 24
|
9M 23
|
YoY Var
|
Revenues
|
15,840
|
13,160
|
20.4%
|
Costs
|
(12,387)
|
(11,299)
|
9.6%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce
|
(3,007)
|
(13,273)
|
(77.3)%
|
Changes
in the net realizable value of agricultural produce after
harvest
|
16
|
-
|
-
|
Gross Profit
|
462
|
(11,412)
|
-
|
General
and administrative expenses
|
(1,140)
|
(927)
|
23.0%
|
Selling
expenses
|
(969)
|
(958)
|
1.1%
|
Other
operating results, net
|
(244)
|
120
|
(303.3)%
|
Result from operations
|
(1,891)
|
(13,177)
|
(85.6)%
|
Results
from associates
|
33
|
(12)
|
-
|
Activity Result
|
(1,858)
|
(13,189)
|
(85.9)%
|
Area in operation – Cattle (hectares) (1)
|
As of 03/31/24
|
As of 03/31/23
|
YoY Var
|
Own
farms
|
68,013
|
68,785
|
(1.1)%
|
Leased
farms
|
10,896
|
10,896
|
0.0%
|
Farms
under concession
|
2,696
|
2,604
|
3.5%
|
Own
farms leased to third parties
|
-
|
70
|
-
|
Total Area Assigned to Cattle Production
|
81,605
|
82,355
|
(0.9)%
|
Stock of Cattle Heard
|
As of 03/31/24
|
As of 03/31/23
|
YoY Var
|
Breeding
stock
|
69,677
|
72,945
|
(4.5)%
|
Winter
grazing stock
|
10,551
|
5,144
|
105.1%
|
Sheep
stock
|
13,642
|
14,734
|
(7.4)%
|
Total Stock (heads)
|
93,870
|
92,823
|
1.1%
|
In ARS Million
|
9M 24
|
9M 23
|
YoY Var
|
Revenues
|
6,716
|
3,828
|
75.4%
|
Costs
|
(4,425)
|
(2,397)
|
84.6%
|
Gross profit
|
2,291
|
1,431
|
60.1%
|
General
and Administrative expenses
|
(414)
|
(473)
|
(12.5)%
|
Selling
expenses
|
(290)
|
(376)
|
(22.9)%
|
Other
operating results, net
|
(55)
|
12
|
(558.3)%
|
Result from operations
|
1,532
|
594
|
157.9%
|
Activity Result
|
1,532
|
594
|
157.9%
|
In ARS Million
|
9M 24
|
9M 23
|
YoY Var
|
Revenues
|
74,677
|
67,144
|
11.2%
|
Costs
|
(45,721)
|
(42,507)
|
7.6%
|
Gross profit
|
28,956
|
24,637
|
17.5%
|
General
and administrative expenses
|
(5,798)
|
(5,419)
|
7.0%
|
Selling
expenses
|
(7,877)
|
(6,039)
|
30.4%
|
Other
operating results, net
|
3,883
|
1,462
|
165.6%
|
Profit from operations
|
19,164
|
14,641
|
30.9%
|
Profit
from associates
|
(1,677)
|
(2,362)
|
(29.0)%
|
Segment Profit
|
17,487
|
12,279
|
42.4%
|
EBITDA
|
20,591
|
15,432
|
33.4%
|
Adjusted EBITDA
|
21,542
|
15,796
|
36.4%
|
In ARS Million
|
9M 24
|
9M 23
|
YoY Var
|
General
and administrative expenses
|
(2,665)
|
(3,343)
|
(20.3)%
|
Loss from operations
|
(2,665)
|
(3,343)
|
(20.3)%
|
Segment loss
|
(2,665)
|
(3,343)
|
(20.3)%
|
EBITDA
|
(2,665)
|
(3,331)
|
(20.0)%
|
Adjusted EBITDA
|
(2,665)
|
(3,331)
|
(20.0)%
|
In ARS Millions
|
9M 24
|
9M 23
|
Var a/a
|
Revenues
|
213,481
|
208,720
|
2.3%
|
Results
from operations
|
(269,680)
|
(56,488)
|
377.4%
|
EBITDA
|
(264,068)
|
(53,877)
|
390.1%
|
Adjusted EBITDA
|
123,631
|
122,050
|
1.3%
|
Segment results
|
(240,223)
|
(51,415)
|
367.2%
|
Description
|
Currency
|
Amount (USD MM)(2)
|
Interest Rate
|
Maturity
|
Loans
and bank overdrafts
|
ARS
|
0.7
|
Variable
|
<
360 days
|
Series
XXXIV
|
USD
|
12.2
|
6.99%
|
Jun-24
|
Series
XXXIII
|
USD
|
6.4
|
6.99%
|
Jul-24
|
Series
XXXV
|
USD
|
20.4
|
3.50%
|
Sep-24
|
Series
XLI
|
ARS
|
4.8
|
Variable
|
Oct-24
|
Series
XLIII
|
ARS
|
23.2
|
Variable
|
Jan-25
|
Series
XXXVI
|
USD
|
39.1
|
2.00%
|
Feb-25
|
Series
XXXVII
|
USD
|
24.4
|
5.50%
|
Mar-25
|
Series
XXXVIII
|
USD
|
70.4
|
8.00%
|
Mar-26
|
Series
XLII
|
USD
|
30.0
|
0.00%
|
May-26
|
Series
XL
|
USD
|
38.2
|
0.00%
|
Dec-26
|
Series
XLIV
|
USD
|
39.8
|
6.00%
|
Jan-27
|
Other
debt
|
|
8.0
|
|
|
CRESUD’s Total Debt (3)
|
USD
|
317.6
|
|
|
Cash and cash equivalents (3)
|
USD
|
17.8
|
|
|
CRESUD’s Net Debt
|
USD
|
299.8
|
|
|
Brasilagro’s Total Net Debt
|
USD
|
96.6
|
|
|
Description
|
Currency
|
Amount
(USD MM) (1)
|
Interest
Rate
|
Maturity
|
Bank
overdrafts
|
ARS
|
6.1
|
Variable
|
<
360 days
|
Series XI
(3)
|
USD
|
10.5
|
5.0%
|
Mar-24
|
Series
XIII
|
USD
|
14.8
|
3.9%
|
Aug-24
|
Series
XIX
|
ARS
|
30.5
|
Variable
|
Feb-25
|
Series
XV
|
USD
|
61.7
|
8.0%
|
Mar-25
|
Series
XVI
|
USD
|
28.3
|
7.0%
|
Jul-25
|
Series
XVII
|
USD
|
25.0
|
5.0%
|
Dec-25
|
Series
XVIII
|
USD
|
21.4
|
7.0%
|
Feb-27
|
Series
XIV
|
USD
|
158.9
|
8.75%
|
Jun-28
|
IRSA’s Total Debt
|
USD
|
357.2
|
|
|
Cash & Cash Equivalents + Investments
(2)
|
USD
|
155.4
|
|
|
IRSA’s Net Debt
|
USD
|
201.8
|
|
|
In ARS million
|
Mar-24
|
Mar-23
|
Mar-22
|
Mar-21
|
Mar-20
|
Current
assets
|
681,286
|
643,583
|
694,767
|
703,304
|
3,391,225
|
Non-current
assets
|
2,304,638
|
2,644,437
|
2,674,446
|
2,936,882
|
6,587,083
|
Total assets
|
2,985,924
|
3,288,020
|
3,369,213
|
3,640,186
|
9,978,308
|
Current
liabilities
|
629,442
|
549,029
|
608,303
|
926,119
|
2,573,061
|
Non-current
liabilities
|
1,021,999
|
1,281,876
|
1,505,832
|
1,460,304
|
5,950,978
|
Total liabilities
|
1,651,441
|
1,830,905
|
2,114,135
|
2,386,423
|
8,524,039
|
Total
capital and reserves attributable to the shareholders of the
controlling company
|
580,270
|
621,867
|
456,444
|
436,209
|
157,715
|
Minority
interests
|
754,213
|
835,248
|
798,634
|
817,554
|
1,296,554
|
Shareholders’ equity
|
1,334,483
|
1,457,115
|
1,255,078
|
1,253,763
|
1,454,269
|
Total liabilities plus minority interests plus shareholders’
equity
|
2,985,924
|
3,288,020
|
3,369,213
|
3,640,186
|
9,978,308
|
In ARS million
|
Mar-24
|
Mar-23
|
Mar-22
|
Mar-21
|
Mar-20
|
Gross
profit
|
206,006
|
169,854
|
228,719
|
194,140
|
221,943
|
Profit from operations
|
(233,224)
|
(70,125)
|
80,401
|
22,663
|
206,467
|
Results
from associates and joint ventures
|
29,680
|
2,178
|
(4,185)
|
(24,986)
|
10,146
|
Profit
from operations before financing and taxation
|
(203,544)
|
(67,947)
|
76,216
|
(2,323)
|
216,613
|
Financial
results, net
|
93,571
|
63,772
|
133,714
|
16,069
|
(277,497)
|
Profit
before income tax
|
(109,973)
|
(4,175)
|
209,930
|
13,746
|
(60,884)
|
Income
tax expense
|
84,327
|
145,093
|
40,920
|
(35,478)
|
(54,635)
|
Result
of the period of continuous operations
|
(25,646)
|
140,918
|
250,850
|
(21,732)
|
(115,519)
|
Result
of discontinued operations after taxes
|
-
|
-
|
-
|
(90,277)
|
(12,963)
|
Result for the period
|
(25,646)
|
140,918
|
250,850
|
(112,009)
|
(128,482)
|
Controlling
company’s shareholders
|
27,879
|
82,381
|
102,871
|
(95,493)
|
(214,713)
|
Non-controlling
interest
|
(38,320)
|
64,099
|
19,459
|
(153,022)
|
160,322
|
In ARS million
|
Mar-24
|
Mar-23
|
Mar-22
|
Mar-21
|
Mar-20
|
Net
cash generated by operating activities
|
60,696
|
25,141
|
78,990
|
(61,652)
|
447,566
|
Net
cash generated by investment activities
|
95,354
|
63,731
|
86,153
|
712,291
|
278,762
|
Net
cash used in financing activities
|
(194,349)
|
(208,914)
|
(247,670)
|
(471,059)
|
(1,162,180)
|
Total net cash generated during the fiscal period
|
(38,299)
|
(120,042)
|
(82,527)
|
179,580
|
(435,852)
|
In ARS million
|
Mar-24
|
Mar-23
|
Mar-22
|
Mar-21
|
Mar-20
|
Liquidity (1)
|
1.082
|
1.172
|
1.142
|
0.759
|
1.318
|
Solvency (2)
|
0.808
|
0.796
|
0.594
|
0.525
|
0.171
|
Restricted capital (3)
|
0.772
|
0.804
|
0.794
|
0.807
|
0.660
|
|
||
|
2024
|
2023
|
Result
for the period
|
(25,646)
|
140,918
|
Income
tax expense
|
(84,327)
|
(145,093)
|
Net
financial results
|
(93,571)
|
(63,772)
|
Share
of profit of associates and joint ventures
|
(29,680)
|
(2,178)
|
Depreciation
and amortization
|
24,127
|
23,703
|
Rights
of use installments
|
(10,753)
|
(11,558)
|
EBITDA (unaudited)
|
(219,850)
|
(57,980)
|
Gain
from fair value of investment properties, not realized -
agribusiness
|
44
|
287
|
Gain
from fair value of investment properties, not realized - Urban
Properties Business
|
377,674
|
134,652
|
Realized
sale – Real Estate
|
21,560
|
37,883
|
Initial
recognition and changes in fair value of biological
assets
|
(4,294)
|
(10,271)
|
Realized
initial recognition and changes in fair value of biological
assets
|
794
|
(2,751)
|
Others
(recovery of provision)
|
(11,596)
|
-
|
Adjusted EBITDA (unaudited)
|
164,332
|
101,820
|
1 Year Cresud S A C I F y A Chart |
1 Month Cresud S A C I F y A Chart |
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