Cresud S.A.C.I.F. Y A. (CRESY) has released an update.
Cresud S.A.C.I.F. Y A. reported a significant net loss of ARS 25,646 million for the nine-month period ending March 31, 2024, a stark contrast to the previous year’s profit of ARS 140,918 million, primarily due to inflation’s impact on investment property valuations. Despite the overall loss, the adjusted EBITDA for the period saw a 61.4% increase, with promising results from agribusiness operations and land sales in Argentina. The company has also announced a new cash dividend and has seen a strategic sale of farmland through its subsidiary Brasilagro, with the financial gain to be recognized in the subsequent quarter.
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