Cresud S.A.C.I.F. y A. (NASDAQ: CRESY, BYMA: CRES), leading Argentine agricultural company, announces today its results for the second quarter of FY 2021 ended December 31, 2020.

BUENOS AIRES, Argentina, March 12, 2021 /PRNewswire/ -- 

HIGHLIGHTS

• The net result for the first semester of fiscal year 2021 recorded a loss of ARS 3,264 million compared to a gain of ARS 2,278 million in the same period of 2020. The result from continuing operations recorded a gain of ARS 3,856 million mainly due to higher results from changes in the fair value of the investment properties from our subsidiary IRSA and lower losses from net financial results.
• Adjusted EBITDA for the first semester of fiscal year 2021 reached ARS 8.894 million, 10.2% higher than in the same period of fiscal year 2020. Agribusiness adjusted EBITDA was ARS 1,354 million and urban properties and investments business (IRSA) adjusted EBITDA was ARS 7,540 million.
• 2021 Campaign is developing with high international commodity prices and under "Niña" weather conditions from moderate to neutral. We expect to plant approximately 260,000 ha.
• As a subsequent event, we have sold our lands in Bolivia to our subsidiary Brasilagro for an amount of USD 30 million and subsequently, we subscribed 6.9 million shares within the framework of its capital increase for BRL 440 million, increasing our participation in Brasilagro, net of treasury shares, from 33.8% to 34.1%.
• In February 2021, we sold 100% of Sociedad Anónima Carnes Pampeanas S.A., owner of a meatpacking facilities plant in La Pampa, Argentina, for the sum of USD 10 million.
• In financial matters, during the quarter we completed an exchange of the Series XXIV Notes for a nominal value of USD 73.6 million and, as a subsequent event, we issued 90 million shares and 90 million warrants for the sum of USD 42.5 million.

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 2021 Results Conference Call on Monday, March 15, 2021, at 10:00 AM Eastern Time / 12:00 PM BA Time.

To access the Webinar:

https://irsacorp.zoom.us/j/86466122327?pwd=cjRzT2lpUCtucmRjREhRNGJVWVhZZz09

Webinar ID: 864 6612 2327

Password: 737007

In addition, you can participate communicating to this numbers:

Argentina: +54 112 040 0447 or +54 115 983 6950 or +54 341 512 2188 or +54 343 414 5986

Israel: +972 55 330 1762 or +972 3 978 6688

Brazil : +55 11 4700 9668 or +55 21 3958 7888 or +55 11 4632 2236 or +55 11 4632 2237

US: +1 346 248 7799 or +1 646 558 8656 or +1 669 900 9128 or +1 253 215 8782 or +1 301 715 8592

Chile: +56 232 938 848 or +56 41 256 0288 or +56 22 573 9304 or +56 22 573 9305 or +56 23 210 9066

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.