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.

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:

Argentina: +54 115 983 6950 or +54 341 512 2188 or +54 343 414 5986 or +54 112 040 0447
Israel: +972 3 978 6688 or +972 2 376 4509 or +972 2 376 4510
Brazil: +55 21 3958 7888 or +55 11 4632 2236 or +55 11 4632 2237 or +55 11 4680 6788 or +55 11 4700 9668
US: +1 719 359 4580 or +1 929 205 6099 or +1 253 205 0468 or +1 253 215 8782 or +1 301 715 8592
Chile: +56 41 256 0288 or +56 22 573 9304 or +56 22 573 9305 or +56 23 210 9066 or +56 232 938 848
UK: +44 330 088 5830 or +44 131 460 1196 or +44 203 481 5237 or +44 203 481 5240 or +44 208 080 6591

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

Cresud S.A.C.I.F. y A.
+5411 4323-7449
[email protected]

Follow us on Twitter: @cresudir

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