Cresud S.A.C.I.F. y A. (NASDAQ: CRESY, BYMA: CRES), leading Argentine agricultural company, announces today results for the nine-month period of FY 2020 ended March 31, 2020.

BUENOS AIRES, Argentina, June 9, 2020 /PRNewswire/ --

HIGHLIGHTS

• Net result for nine-month period of fiscal year 2020 recorded a loss of ARS 7,421 million compared to a loss of ARS 14,523 million in the same period of fiscal year 2019. This lower loss is explained by better results in agribusiness and mixed effects in our subsidiary IRSA, such as the positive result from the deconsolidation of Gav-Yam, offset by lower results of the market valuation of Clal in the Israel operations center and net financial losses in Argentina.
  
  
• Net result attributable to the controlling shareholder registered a loss of ARS 10,185 million compared to a loss of ARS 10,076 million in the same period of 2019.
  
  
• Adjusted EBITDA for the period reached ARS 26,559 million, of which ARS 5,372 million come from the agricultural business due to higher productive results of grains and sugarcane activity offset by lower results from farmland sales and ARS 21,187 million come from the urban properties and investments business (IRSA), ARS 5,362 million from Argentina Business Center and ARS 15,825 million from Israel Business Center.
  
  
• In relation to the COVID-19 pandemic, our agricultural operations continue to develop normally, following strict protocols, as agricultural production is an essential activity to guarantee food supplies. The urban properties and investments business (IRSA) have been affected by the closure of the operations of shopping malls and hotels in Argentina due to the social, preventive and compulsory isolation decreed since March 20.
  
  
• During the quarter, our subsidiary Brasilagro has completed the merger transaction with Agrifirma, adding 28,930 additional hectares to its portfolio. Subsequently, it acquired a 4,500 hectares farm in Piauí and sold a new fraction of 105 ha of its Alto Taquari farm.
  
  
• As a subsequent event, in June 2020, we have issued notes in the local market for the approximate amount of USD 83 million, USD linked with a term of 18 months. The funds will be used mainly to refinance short-term liabilities.

Cresud, leading Argentinean agricultural company with a growing presence in Latin American countries, cordially invites you to participate in its third quarter of the FY 2020 Results Conference Call on Wednesday, June 10, 2020, at 01:00 PM Eastern Time / 02:00 PM BA Time.

To access the Webinar:
 https://irsacorp.zoom.us/j/91637305588?pwd=U3MvekJ2RUFpM2pWY01idjQ2VDZQdz09 
Webinar ID: 916 3730 5588
Password: 878322

In addition, you can participate communicating to this numbers:
Argentina: +54 112 040 0447 or +54 341 512 2188 or +54 343 414 5986
Israel: +972 55 330 1762 or +972 3 978 6688
Brazil: +55 21 3958 7888 or +55 11 4680 6788
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 23 210 9066 or +56 232 938 848 or +56 41 256 0288

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.

Related Links

http://www.cresud.com.ar

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