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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Adecoagro SA | NYSE:AGRO | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.75 | 0 | 01:00:00 |
LUXEMBOURG, Nov. 13, 2012 /PRNewswire/ -- Adecoagro S.A. (NYSE: AGRO, Bloomberg: AGRO US, Reuters: AGRO.K), one of the leading agricultural companies in South America, announced today its results for the third quarter of 2012. Main highlights for the period:
This value creation is driven mainly by: (i) the transformation of underutilized or undermanaged cattle land into high yielding crop and rice land; (ii) the ongoing transformation and productivity improvement of all our farmland through our sustainable farming model focused on cutting edge technology and best practices, such as, no-till farming, crop rotations, balanced fertilization, integrated pest management and water use efficiency; and (iii) the increase/decrease in farm margins driven by changes in commodity and input prices.
These gains are not reflected in Adecoagro's financial statements since the Company does not mark-to-market the value of farmland assets on its balance sheet. However, land transformation and appreciation are an important part of Adecoagro's business strategy, and a component of the Company's total return on invested capital.
The foregoing highlights are only a summary of our results for the third quarter. You should read the full 3Q12 earnings release, including a reconciliation of Adjusted EBITDA to IFRS, that is available through our website at ir.adecoagro.com. A conference call to discuss 3Q12 results will be held tomorrow with live webcast through the internet:
English Conference Call
Nov 14th, 2012
11 a.m. (US EST)
1 p.m. Buenos Aires
2 p.m. Sao Paulo
5 p.m. Luxembourg
Tel: (877) 317-6776
Participants calling from the US
Tel: +1 (412) 317-6776
Participants calling from other countries
Access Code: Adecoagro
Investor Relations Department
Charlie Boero Hughes
CFO
Hernan Walker
IR Manager
Email: ir@adecoagro.com
Tel: +54 (11)4836-8651
About Adecoagro:
Adecoagro is a leading agricultural company in South America. Adecoagro owns over 285 thousand hectares of farmland and several industrial facilities spread across the most productive regions of Argentina, Brazil and Uruguay, where it produces over 1 million tons of agricultural products including corn, wheat, soybeans, rice, dairy products, sugar, ethanol and electricity among others.
SOURCE Adecoagro S.A.
Copyright 2012 PR Newswire
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