CRESUD S.A.C.I.F. y A. Reports Robust Fiscal Year 2024 Results
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CRESUD S.A.C.I.F. y A. Reports Fiscal Year 2024 Results
CRESUD S.A.C.I.F. y A. (NASDAQ: CRESY), a prominent player in Latin American agriculture, has announced its remarkable results for the fiscal year ending June 30, 2024. The company demonstrated resilience against market challenges and fluctuating commodity prices to deliver impressive financial gains.
Key Financial Highlights
In fiscal year 2024, CRESUD reported a net income of ARS 104,129 million, significantly lower than the ARS 279,709 million reported in the previous year. Nevertheless, the adjusted EBITDA of ARS 256,396 million reflects a substantial contribution from both agricultural operations (ARS 80,066 million) and urban properties (ARS 176,330 million), marking a 23.5% increase from fiscal year 2023.
Agricultural Production Overview
The agricultural division faced several hurdles throughout the year, planting 277,000 hectares which yielded 707,000 tons of grains, down 7% from the previous season due to a deficit in rainfall in key regions.
Livestock Performance
On a positive note, livestock activities, especially in CRESUD's farms across selected areas, achieved high meat production levels. Enhanced prices in the market contributed to strong performance in this segment.
Property and Investments Achievements
This fiscal year also saw the successful sale of three farm fractions totaling approximately USD 75 million, leading to a notable profit of around USD 48 million. This highlights CRESUD's strategic approach in leveraging its land assets to maximize shareholder value.
Cash Dividends Distribution
This year, the company distributed cash dividends amounting to ARS 52,000 million, along with significant shares in IRSA, demonstrating its commitment to returning value to shareholders.
Financial Metrics Overview
Looking at broader financial metrics, CRESUD's consolidated gross profit for fiscal year 2024 stood at ARS 291,553 million, a slight increase from ARS 264,792 million in the previous year. The performance on the income statement indicates robust management strategies across various business sectors.
Investors Conference Call Details
CRESUD invites investors and stakeholders to participate in a conference call to discuss these results in greater detail. The call is scheduled for a convenient time, allowing all interested parties an opportunity to engage with the company's management.
Frequently Asked Questions
What were CRESUD's net earnings for the fiscal year 2024?
CRESUD reported a net income of ARS 104,129 million for the year.
How did CRESUD's agricultural operations perform?
The agricultural division produced 707,000 tons of grains, which was lower than the previous season due to rainfall shortages.
What cash dividends did CRESUD distribute in 2024?
TOTAL cash dividends distributed amounted to ARS 52,000 million along with IRSA shares.
How can investors participate in the conference call?
Investors are invited to join the conference call where detailed discussions of financial results will occur.
What is the ticker symbol for CRESUD?
The ticker symbol for CRESUD on NASDAQ is CRESY.
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