Argentina · Delayed Price · Currency is ARS Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria Earnings Call Transcripts
Fiscal Year 2026
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Improved weather and operational scale supported yields, but margins were pressured by low commodity prices and higher input costs. Cattle and trading segments performed strongly, while real estate activity is expected to pick up in the second half. Dividend payments and debt refinancing strengthened the financial position.
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Largest campaign ever with 7.4% growth in planted area and strong margins in grain and cattle. Net gain of ARS 110 billion, reduced debt, and 8.4% dividend yield. Farmland sales expected in coming quarters as Argentina land prices rebound.
Fiscal Year 2025
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Fiscal 2025 delivered strong net income growth, record cattle margins, and robust real estate gains, aided by favorable government policy and improved operational efficiency. Outlook is optimistic, with expansion in agriculture and real estate expected next year.
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Profitability rebounded with ARS 57.9 billion net income for the nine months, driven by strong sugarcane, cattle, and real estate results. Removal of capital controls and FX convergence in Argentina improved outlook, while farmland prices are rising.
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Planted area reached a record high with improved climate and commodity prices, but the semester ended with a net loss due to property revaluations. Operational outlook is positive, with expectations for better harvests, stable debt, and continued macroeconomic improvements.
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Planted area rose 9% year-over-year, with strong real estate gains and a 7% dividend yield. Net income was negative due to non-cash accounting effects, but operational outlook remains optimistic amid stable commodity prices and regulatory improvements.
Fiscal Year 2024
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Fiscal 2024 saw lower commodity prices and adverse weather, but strong farmland sales, record cattle margins, and robust dividend payments. Net income was ARS 104 billion, with optimism for future acquisitions and continued operational excellence.