Cresud SACIF 1H EPS ARS(103.27) Down From ARS181.95 YoY
Benzinga
02-11
The net result for the first half of fiscal year 2025 registered a loss of ARS 64,391 million. This result is mainly explained by the loss due to changes in the fair value of IRSA investment properties.
The adjusted EBITDA for the period reached ARS 134,961 million, 15.3% lower than the same period in 2024. The agribusiness adjusted EBITDA was ARS 35,262 million and the Urban adjusted EBITDA (through IRSA), ARS 103,136 million.
The 2025 campaign is developing with historically low commodity prices, although a slight recovery was observed in the last quarter, reduced input costs, and favorable weather conditions in the region. We planted 303,000 hectares in the region, 9% more than the previous season.
In January 2025, the Argentine government announced a temporary reduction in crops tax exports until June 30, 2025, lowering soybean from 33% to 26% and wheat and corn from 12% to 9.5%. This had a positive impact on spot and future crop prices of approximately 5%.
During the first half of fiscal year 2025, we sold a fraction of Los Pozos farm in Argentina for USD 2.2 million and our subsidiary BrasilAgro sold a fraction of its Alto Taquari farm for BRL 189.4 million.
On November 2024, we distributed a cash dividend of ARS 45,000 million (dividend yield ~7%).