Cresud Files Unaudited Q2 FY24 Financials

TL;DR

**Cresud just dropped its unaudited Q2 FY24 financials, giving us a peek at their performance through December 31, 2023.**

AI Summary

CRESUD INC (Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria) filed its unaudited condensed interim consolidated financial statements as of December 31, 2023, for the six and three-month periods ending on that date. The company, with fiscal year N° 91 beginning July 1, 2023, operates in real estate, agricultural, commercial, and financial activities. Its legal address is Carlos Della Paolera 261, 9th floor, Autonomous City of Buenos Aires, Argentina.

Why It Matters

This filing provides investors with an early look at Cresud's financial performance for the second quarter of its fiscal year 2024, offering transparency into its real estate, agricultural, commercial, and financial operations.

Risk Assessment

Risk Level: medium — The financial statements are unaudited, which carries a higher risk compared to audited statements as they have not been independently verified.

Key Numbers

• N° 91 — Fiscal Year Number (Current fiscal year for Cresud)
• December 31, 2023 — Reporting Period End Date (Unaudited financial statements cover periods ending on this date)
• February 19, 1937 — Date of Registration of By-laws (Founding date of Cresud)

Key Players & Entities

• CRESUD INC (company) — filer of the 6-K
• Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (company) — full legal name of the filer
• December 31, 2023 (date) — end date of the reporting period for financial statements
• July 1, 2023 (date) — start date of fiscal year N° 91
• Carlos Della Paolera 261, 9rd floor – Autonomous City of Buenos Aires, Argentina (location) — legal address of Cresud

FAQ

Filing Documents

• cresud2qfy24.htm (6-K) — 5753KB
• 0001654954-24-002116.txt ( ) — 5754KB

Financial Statements

Financial Statements   Unaudited Condensed Interim Consolidated Financial CPF   Collective Promotion Funds GCDI   GCDI S.A. IFISA   Inversiones Financieras del Sur S.A. IPC   Consumer's price index IRSA   IRSA Inversiones y Representaciones S.A. MEP   Electronic Payment Market New Lipstick   New Lipstick LLC IAS   International Accounting Standards IFRS   International Financial Reporting Standards NIS   New Israeli Shekel Quality   Quality Invest S.A. RECPAM   Result from exposure to changes in the purchasing power of the currency       1 Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria   Unaudited Condensed Interim Consolidated Statement of Financial Position as of December 31, 2023 and June 30, 2023 (All amounts in millions of Argentine pesos, except otherwise indicated) Free translation from the original prepared in Spanish for publication in Argentina     Note   12.31.2023     06.30.2023   ASSETS               Non-current assets               Investment

properties

properties 8     1,338,383       1,211,719   Property, plant and equipment 9     414,245       300,809   Trading

properties

properties 10     13,415       12,472   Intangible assets 11     40,618       20,599   Group of assets held for sale       2,458       -   Right-of-use assets 12     52,189       38,728   Biological assets 13     20,248       19,230   Investment in associates and joint ventures 7     88,152       82,006   Deferred income tax assets 21     8,869       2,951   Income tax credit       24       46   Restricted assets 15     3,718       2,484   Trade and other receivables 16     93,767       69,668   Investment in financial assets 15     6,662       4,267   Derivative financial instruments 15     1,258       809   Total non-current assets       2,084,006       1,765,788   Current assets                   Trading

properties

properties 10     371       298   Biological assets 13     73,587       38,634   Inventories 14     74,871       58,313   Income tax credit       932       2,364   Trade and other receivables 16     228,050       160,829   Investment in financial assets 15     121,446       90,563   Derivative financial instruments 15     8,676       12,735   Cash and cash equivalents 15     101,794       80,468   Total current assets       609,727       444,204   TOTAL ASSETS       2,693,733       2,209,992   SHAREHOLDERS’ EQUITY                   Shareholders' equity (according to corresponding statement)       474,903       429,922   Non-controlling interest       667,581       562,346   TOTAL SHAREHOLDERS' EQUITY       1,142,484       992,268   LIABILITIES                   Non-current liabilities                   Trade and other payables 18     30,998       25,327   Borrowings 20     482,015       329,324   Deferred income tax liabilities 21     444,373       399,819   Provisions 19     19,635       13,362   Payroll and social security liabilities       707       701   Lease liabilities     &#xA

properties

properties 8     139,697       (89,946 )     (15,026 )     (65,804 ) Gain from disposal of farmlands       4,223       1,761       4,181       1,670   General and administrative expenses 24     (16,204 )     (20,671 )     (12,671 )     (10,726 ) Selling expenses 24     (16,298 )     (13,471 )     (7,556 )     (7,085 ) Other operating results, net 25     5,510       (6,857 )     654       (11,299 ) Management fees       (5,638 )     (3,807 )     1,335       (2,247 ) Profit/ (loss) from operations       206,385       (52,810 )     27,908       (50,328 ) Share of profit/ (loss) of associates and joint ventures 7     19,873       2,528       16,984       (507 ) Profit/ (loss) before financial results and income tax       226,258       (50,282 )     44,892       (50,835 ) Finance income 26     8,662       3,419       4,774       2,012   Finance cost 26     (18,679 )     (36,649 )     (8,655 )     (23,098 ) Other financial results 26     (124,628 )     24,085       (119,120 )     12,097   Inflation adjustment 26     68,277       36,540       53,721       13,349   Financial results, net 26     (66,368 )     27,395       (69,2

View Full Filing

View this 6-K filing on SEC EDGAR