Cresud S.A.C.I.F. y A.: CRESUD S.A.C.I.F. y A. announces its results for the first quarter of Fiscal Year 2024 ended September 30, 2023

BUENOS AIRES, Argentina, Nov. 9, 2023 /PRNewswire/ -- Cresud S.A.C.I.F. y A. (NASDAQ: CRESY, BYMA: CRES), leading Argentine agricultural company, announces today its results for the first quarter of FY 2024 ended September 30, 2023 .

HIGHLIGHTS

• The net result for the first quarter of fiscal year 2024 recorded a gain of ARS 78,969 million compared to ARS 12,471 million in the same period of 2023, mainly due to the gain from changes in the fair value of IRSA's investment properties. The gain attributable to the controlling shareholder was ARS 40,780 million, compared to ARS 8,271 million in the same period of 2023.
• The adjusted EBITDA for the period reached ARS 14,340 million, 39.1% lower than the same period in 2023. The adjusted EBITDA of the agricultural segments was ARS 5,069 million .
• The 2024 campaign is being developed with better weather conditions in the region, mainly in Argentina, and correction of international commodity prices and costs. We hope to plant approximately 289,000 hectares, 2% more than in the 2023 campaign.
• After the end of the quarter, we sold a fraction of 4,262 hectares of reserve with productive potential of "Los Pozos" farm, in the province of Salta, Argentina, for USD 2.3 million .
• On October 5, 2023, the Shareholders' Meeting approved the distribution of a cash dividend of ARS 22,000 million and in kind through the delivery of 22.1 million IRSA shares, as well as approved the distribution of own treasury shares, representing approximately 1% of the stock capital.

Financial Highlights
(In millions of Argentine Pesos)
3M FY 2024 ended September 30, 2023
Income Statement	09/30/2023	09/30/2022
Agricultural Business Revenue	36,696	43,653
Agricultural Business Gross Profit	4,003	5,456
Urban Properties Revenues	25,302	22,194
Urban Properties Gross Profit	20,960	17,784
Consolidated Gross Profit	24,856	22,846
Consolidated results from Operations	116,430	(1,614)
Profit for the Period	78,969	12,471
Attributable to:
Cresud's Shareholders	40,780	8,271
Non-Controlling interest	38,189	4,200
EPS (Basic)	68.91	13.96
EPS (Diluted)	58.88	11.95
Balance Sheet	09/30/2023	06/30/2023
Current Assets	315,001	289,782
Non-Current Assets	1,241,538	1,151,935
Total Assets	1,556,539	1,441,717
Current Liabilities	286,437	268,929
Non-Current Liabilities	548,952	525,468
Total Liabilities	835,389	794,397
Non-Controlling Interest	402,708	366,854
Shareholders' Equity	721,150	647,320

The Company's market capitalization as of September 30, 2023, was approximately USD 397 million . (59,345,404 ADS with a price per ADS of USD 6.69 )

Cresud, leading Argentinean agricultural company with a growing presence in Latin American countries, cordially invites you to participate in its first quarter of the FY 2024 Results Conference Call on Thursday, November 9, 2023, at 10:00 AM Eastern Time / 12:00 PM BA Time.

To access the Webinar:
https://zoom.us/j/99019846231?pwd=VVRsL0lWVnBUMEI0UUVITDhiN0lsdz09
Webinar ID: 990 1984 6231
Password: 455400

In addition, you can participate communicating to this numbers:

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Investor Relations Department.
https://www.cresud.com.ar/home-inversores.php?lng=en

Cresud S.A.C.I.F. y A.
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SOURCE Cresud S.A.C.I.F. y A.