Cresud Inc. Files Q3 Financials, Real Estate & Ag Focus

TL;DR

Cresud dropped Q3 financials, showing real estate and ag numbers.

AI Summary

Cresud Inc. filed its unaudited condensed interim consolidated financial statements for the nine and three-month periods ending March 31, 2024. The company, legally known as Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria, is engaged in real estate and agricultural activities. Its fiscal year ends on June 30, and the latest amendment to its by-laws was registered on December 5, 2022.

Why It Matters

This filing provides investors with an update on Cresud's financial performance and operational status in its core real estate and agricultural sectors for the third quarter of its fiscal year.

Risk Assessment

Risk Level: low — This is a routine financial filing providing unaudited interim results, not indicating any new or significant risks.

Key Players & Entities

• Cresud Inc. (company) — Filer of the financial statements
• Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (company) — Legal name of the company
• March 31, 2024 (date) — Reporting period end date
• June 30 (date) — Fiscal year end date
• December 5, 2022 (date) — Date of last by-law amendment registration

FAQ

Filing Documents

• cresudfy243q.htm (6-K) — 3945KB
• 0001654954-24-006830.txt ( ) — 3947KB

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.       1 Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria   Unaudited Condensed Interim Consolidated Statement of Financial Position as of March 31, 2024 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   03.31.2024     06.30.2023   ASSETS               Non-current assets               Investment

properties

properties 8     1,398,162       1,837,232   Property, plant and equipment 9     484,142       456,093   Trading

properties

properties 10     17,373       18,911   Intangible assets 11     61,248       31,232   Group of assets held for sale       6,075       -   Right-of-use assets 12     63,065       58,720   Biological assets 13     27,757       29,156   Investment in associates and joint ventures 7     131,911       124,339   Deferred income tax assets 21     8,529       4,475   Income tax credit       6       69   Restricted assets 15     3,990       3,767   Trade and other receivables 16     90,703       105,632   Investment in financial assets 15     10,086       6,470   Derivative financial instruments 15     1,591       1,227   Total non-current assets       2,304,638       2,677,323   Current assets                   Trading

properties

properties 10     408       451   Biological assets 13     96,769       58,578   Inventories 14     82,797       88,416   Income tax credit       734       3,584   Trade and other receivables 16     243,182       243,853   Investment in financial assets 15     140,988       137,314   Derivative financial instruments 15     12,755       19,308   Cash and cash equivalents 15     103,653       122,008   Total current assets       681,286       673,512   TOTAL ASSETS       2,985,924       3,350,835   SHAREHOLDERS’ EQUITY                   Shareholders' equity (according to corresponding statement)       580,270       651,857   Non-controlling interest       754,213       852,640   TOTAL SHAREHOLDERS' EQUITY       1,334,483       1,504,497   LIABILITIES                   Non-current liabilities                   Trade and other payables 18     34,345       38,402   Borrowings 20     450,930       499,328   Deferred income tax liabilities 21     462,052       606,213   Provisions 19     20,139       20,259   Payroll and social security liabilities       1,023       1,062   Lease liabilities   &#

properties

properties 8     (377,718 )     (134,939 )     (589,529 )     1,438   Gain / (loss) from disposal of farmlands       6,254       2,670       (149 )     -   General and administrative expenses 24     (40,865 )     (47,321 )     (16,295 )     (15,979 ) Selling expenses 24     (36,297 )     (31,270 )     (11,585 )     (10,845 ) Other operating results, net 25     10,280       (20,071 )     1,927       (9,674 ) Management fees       (884 )     (9,048 )     7,664       (3,276 ) (Loss) / Profit from operations       (233,224 )     (70,125 )     (546,145 )     9,944   Share of profit / (loss) of associates and joint ventures 7     29,680       2,178       (452 )     (1,655 ) (Loss) / Profit before financial results and income tax       (203,544 )     (67,947 )     (546,597 )     8,289   Finance income 26     45,512       6,311       32,377       1,127   Finance cost 26     (47,293 )     (86,856 )     (18,972 )     (31,287 ) Other financial results 26     110,987       80,883       299,950       44,365   Inflation adjustment 26     (15,635 )     63,434       (119,158 )     8,032   Financial results, net 26     93,571       63,772       194,1

View Full Filing

View this 6-K filing on SEC EDGAR