Cresud S.A.C.I.F. y A announces results for the six-month period of FY 2020 ended December 31, 2019

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Feb 11, 2020, 19:39 ET

BUENOS AIRES, Argentina, Feb. 11, 2020 /PRNewswire/ -- Cresud S.A.C.I.F. y A. (NASDAQ: CRESY, BYMA: CRES), leading Argentine agricultural company, today announces results for the six-month period of FY 2020 ended December 31, 2019.

HIGHLIGHTS

Net result for the first half of fiscal year 2020 recorded a gain of ARS 1,673 million compared to a loss of ARS 8,627 million in the same period of fiscal year 2019 mainly explained by higher results from changes in the fair value of investment properties in the Argentine business center and the result from the deconsolidation of Gav- Yam, due to the loss of control, in the Israel business center through IRSA, offset among other effects, by the loss from exchange rate differences in Argentina.
Net result attributable to the controlling shareholder registered a loss of ARS 4,746 million compared to a loss of ARS 6,027 million in the first half of 2019.
Adjusted EBITDA for the period reached ARS 14,227 million, of which ARS 2,601 million come from the agricultural business due to higher productive results of sugarcane activity offset by lower results from farmland sales and ARS 11,626 million come from the urban properties and investments business (IRSA).
A 2020 campaign with good weather conditions is projected in the region in which we expect to plant approximately 269,000 ha.
On November 14, the company has distributed among its shareholders 13,000,000 treasury shares, representing 2.6% of the share capital.
As a subsequent event, our subsidiary Brasilagro has concluded the merge transaction with Agrifirma, adding 28,930 hectares to its portfolio.

                                     Financial Highlights
                            (In millions of Argentine Pesos)
                      6M FY 2020 ended December 31, 2019

Income Statement	12/31/2019	12/31/2018
Agricultural Business Revenue	12,821	8,403
Agricultural Business Gross Profit	3,506	2,004
Urban Properties Revenues	41,298	28,020
Urban Properties Gross Profit	16,422	15,041
Consolidated Gross Profit	19,797	16,931
Consolidated Profit from Operations	8,951	-2,329
Profit / (Loss) For the Period	1,673	-8,627

Attributable to:
Cresud's Shareholders	-4,746	-6,027
Non-Controlling interest	6,419	-2,600

EPS (Basic)	-9.69	-12.40
EPS (Diluted)	-9.69	-12.40

Balance Sheet	12/31/2019	06/30/2019
Current Assets	193,970	192,579
Non-Current Assets	354,597	446,572
Total Assets	548,567	639,151
Current Liabilities	132,795	112,737
Non-Current Liabilities	332,132	414,434
Total Liabilities	464,927	527,171
Non-Controlling Interest	68,689	90,817
Shareholders' Equity	83,640	111,980

Cresud, leading Argentinean agricultural company with a growing presence in Latin American countries, cordially invites you to participate in its second quarter of the FY 2020 Results Conference Call on Wednesday, February 12, 2020, at 10:00 AM Eastern Time / 12:00 PM BA Time.

If you would like to participate, please call:
United States: 1-844-686-3840
International: 1-412-317-6377
ID# CRESUD

To access the webcast, click on the link below:
http://webcastlite.mziq.com/cover.html?webcastId=60566103-4c67-48bc-8da2-fbe4c63b5c31

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.