Sustained commodity prices down in 2nd half, cost pressure and climate challenges
2 SEVERE DROUGHT IN ARGENTINA
Impact on crop yields, partially compensated by "Agro differentiated FX".
3 BRASILAGRO WITH RECORD FARMLAND SALES
Lower productive results due to lower prices, basis and mixed weather conditions
ACQUISITION OF "LOS SAUCES" FARM IN LA PAMPA, ARGENTINA
INVESTMENT IN IRSA: STAKE INCREASED FROM 53.9% TO 56.9%
Rental EBITDA growth, office sales and deleverage
6 DIVIDEND AND TREASURY SHARES DISTRIBUTION (MAY-23)
Annual dividend yield: 9% / 2.2% of capital stock own shares distribution
7 NEW DIVIDEND PROPOSAL (FOR UP TO ARS 22,000 MM IN CASH AND UP TO 24,334,124 IRSA SHARES)
To be treated in the next Shareholders' meeting to be held on October 5th, 2023
2
INTERNATIONAL COMMODITIES PRICES
USD cents per bushel
2.000,00
1.800,00
SOYBEAN
1.600,00
1.400,00
1.200,00
1.000,00
800,00
CORN
600,00
400,00
200,00
-
SOYBEAN
CORN
BOOM POST-COVID
& RUS/UKR WAR
FY 23 (var %)
-4%
-27%
+112%
1.769
Since jul-23 (var %)
-13%
-17%
-9%
1.356
Downtrend (2H23)
835
+161%
801
-31%
464
302
3
FY 2023 - RECORD PLANTED AREA (Th. Ha)
CROP BREAKDOWN
CORN
26%
SOYBEAN
45%
10% SUGARCANE
+2%
3%
283
283
14%
WHEAT
278
279
OTHERS
262
14
24
24
28
Leased to
3rd parties
10
11
13
12
Paraguay
14
226
13
220
220
14
12
Bolivia
217
213
208
197
181
101
106
109
109
Brazil
139
129
119
123
Argentina
FY 11
FY 12
FY 13
FY 14
FY 15
FY 16
FY 17
FY 18
FY 19
FY 20
FY 21
FY 22
FY 23
4
SEVERE DROUGHT IN ARGENTINA
IMPACT ON CROP YIELDS AND PRODUCTION
SEVERE DROUGHT IN ARGENTINA'S CORN BELT
CRESUD OWN & LEASED FARMS IN ARGENTINA
PRODUCTION
Vs. INITIAL FORECAST
ARGENTINA*
CRESUD
Soybean
-50%
-30%
Corn
-35%
-18%
Wheat
-40%
-30%
*Source: Bolsa de Comercio Rosario (BCR)
"AGRO Differentiated FX"
Compensation
CRESUD also mitigated the impact due to its farmland geographic location
CRESUD farms
(little exposure to corn belt)
Leased farms
(high exposure to corn belt)
CRESUD ARGENTINE YIELDS
Corn
5,55
5,41
across Argentina
Soybean
-3%
2,71
1,89
-30%
FY 22
FY 23
5
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Cresud S.A.C.I.F. y A. published this content on 11 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 September 2023 13:04:06 UTC.
Cresud SACIF y A is an Argentina-based company engaged mainly in telecommunications sector. Through its subsidiaries, it operates two segments: Agricultural Business and Urban Properties and Investment Business, which is divided into: Operations Center Argentina and Operations Center Israel. Agricultural Business focuses on acquiring, developing and exploiting agricultural properties. It is involved in farming activities, cattle raising, leasing land to third parties and perform agency and agro-industrial services, including a meat packing plant. Operations Center Argentina is engaged in the development, acquisition and operation of shopping malls, offices and hotels, among others, in Argentina, and owns selective investments outside Argentina. Operations Center Israel includes real estate activities in Israel and abroad, supermarket chain management and telecommunications services, both locally, as well as is engaged in the insurance, pension and provident funds, among others.
CRESUD SOCIEDAD ANÓNIMA, COMERCIAL, INMOBILIARIA, FINANCIERA Y AGROPECUARIA 