CRESUD S.A.C.I.F. y A. Reports Fiscal Year 2024 Results
CRESUD S.A.C.I.F. y A. (NASDAQ: CRESY), a key player in the Latin American agriculture sector, has released its impressive results for the fiscal year that ended on June 30, 2024. The company has shown remarkable resilience in the face of market challenges and fluctuating commodity prices, achieving notable financial success.
Key Financial Highlights
During fiscal year 2024, CRESUD reported a net income of ARS 104,129 million, which is significantly lower than the ARS 279,709 million recorded the previous year. However, the adjusted EBITDA reached ARS 256,396 million, showcasing a strong contribution from both agricultural operations (ARS 80,066 million) and urban properties (ARS 176,330 million). This marks a 23.5% increase compared to fiscal year 2023.
Agricultural Production Overview
The agricultural division encountered several challenges throughout the year, managing to plant 277,000 hectares that yielded 707,000 tons of grains. This reflects a 7% decrease from the prior season, primarily due to insufficient rainfall in critical areas.
Livestock Performance
On a brighter note, livestock operations, particularly on CRESUD's farms in selected regions, achieved impressive meat production levels. Increased market prices played a significant role in boosting performance in this segment.
Property and Investments Achievements
This fiscal year also marked the successful sale of three farm fractions, totaling approximately USD 75 million, resulting in a notable profit of around USD 48 million. This underscores CRESUD's strategic focus on leveraging its land assets to enhance shareholder value.
Cash Dividends Distribution
This year, the company distributed cash dividends totaling ARS 52,000 million, along with substantial shares in IRSA, highlighting its commitment to delivering value to shareholders.
Financial Metrics Overview
Examining broader financial metrics, CRESUD's consolidated gross profit for fiscal year 2024 reached ARS 291,553 million, reflecting a slight increase from ARS 264,792 million in the previous year. The income statement performance indicates effective management strategies across various business sectors.
Investors Conference Call Details
CRESUD invites investors and stakeholders to join a conference call to delve deeper into these results. The call is scheduled at a convenient time, providing all interested parties the chance 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?
The 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.
