Cresud Inc 6-K, filed Feb 8, 2024
Cresud Inc (CRESY)
6-K
2024-02-08
For: 2024-02-08
View Original
Added on
July 04, 2026
About this 6-K
Cresud Inc filed this 6-K on February 8, 2024.
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN ISSUER
PURSUANT
TO RULE 13a-16 OR 15b-16 OF
THE
SECURITIES EXCHANGE ACT OF 1934
For
the month of February, 2024
Cresud
Sociedad Anónima, Comercial,
Inmobiliaria,
Financiera y
Agropecuaria
(Exact name of Registrant as specified in its
charter)
Cresud Inc.
(Translation of registrant´s name into
English)
Republic
of Argentina
(Jurisdiction of incorporation or organization)
Carlos Della Paolera
261
(C1001ADA)
Buenos
Aires, Argentina
(Address of principal
executive offices)
Form 20-F ⌧ Form
40-F ☐
Indicate by
check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes o No
x
CRESUD
S.A.C.I.F. and A.
(THE
“COMPANY”)
REPORT
ON FORM 6-K
By letter dated February 8, 2024,
the
company reported that in compliance with Section 63 of the Regulations
issued by the Buenos Aires Stock Exchange, this is to report the
following information:
|
1. Results of the period (six-month period)
|
in million ARS
|
|
|
|
12/31/2023
|
12/31/2022
|
|
Results of the period (six-month
period)
|
122,205
|
59,907
|
|
Attributable to:
|
|
|
|
Shareholders
of the controlling company
|
48,800
|
32,929
|
|
Non-controlling
interest
|
73,405
|
26,978
|
|
|
|
|
|
2. Other comprehensive income for the period (six-month
period)
|
in million ARS
|
|
|
|
12/31/2023
|
12/31/2022
|
|
Other comprehensive income for the period
(six-month period)
|
138,289
|
(8,122)
|
|
Attributable to:
|
|
|
|
Shareholders
of the controlling company
|
49,588
|
(2,768)
|
|
Non-controlling
interest
|
88,701
|
(5,354)
|
|
|
|
|
|
3. Total comprehensive income for the period (six-month
period)
|
in million ARS
|
|
|
|
12/31/2023
|
12/31/2022
|
|
Total comprehensive income for the period
(six-month period)
|
260,494 |
51,785
|
|
Attributable to:
|
|
|
|
Shareholders
of the controlling company
|
98,388
|
30,161
|
|
Non-controlling
interest
|
162,106
|
21,624
|
|
|
|
|
|
4. Equity details
|
in million ARS
|
|
|
|
12/31/2023
|
12/31/2022
|
|
Share
Capital
|
588
|
581
|
|
Treasury
shares
|
6
|
11
|
|
Comprehensive
adjustment of capital stock and of treasury shares
|
113,041
|
113,029
|
|
Warrants
|
10,476
|
10,693
|
|
Share
Premium
|
142,961
|
139,170
|
|
Premium
for trading of treasury shares
|
(8,859)
|
1,013
|
|
Legal
Reserve
|
15,273
|
10,847
|
|
Special
Reserve (Resolution CNV 609/12)
|
73,230
|
95,044
|
|
Cost
of treasury share
|
(4,405)
|
(6,763)
|
|
Conversion
reserve
|
61,087
|
1,211
|
|
Reserve
for securities issued by the Company acquisition
|
1,091
|
1,091
|
|
Reserve for future
dividends
Other
reserves
|
32,802
10,380
|
-
9,153
|
|
Retained
earnings
|
27,232
|
12,614
|
|
Shareholders’ Equity attributable to controlling
company’s shareholders
|
474,903
|
387,694
|
|
Non-controlling
interest
|
667,581
|
537,467
|
|
Total shareholder's equity
|
1,142,484
|
925,161
|
The Company's
market capitalization as of December 31, 2023, was approximately
USD 563.3 million. (59,417,495 ADS with a price per ADS of USD
9.48)
As of December 31, 2023, the Company’s principal shareholder
and beneficial owner is Eduardo Sergio Elsztain. Direct or
indirectly, through the vehicles Inversiones Financieras del
Sur S.A (IFISA), Agroinvestment S.A and Consultores Venture Capital
Uruguay S.A.(CVCU), owns 228,670,718 shares, accounting for 38.88%
of the share capital (net of treasury shares). Eduardo
Sergio Elsztain is domiciled at Bolivar 108, 1st floor, Buenos
Aires City Center, IFISA is a company incorporated and domiciled at
Calle 8, km 17,500, Edificio Zonamérica 1, local 106,
Montevideo, Uruguay, Agroinvestment S.A is a company incorporated
and domiciled at Cambará 1620, 2nd floor, 202 office,
Carrasco, Montevideo, Uruguay and CVCU
is
a company incorporated and domiciled at Calle 8, km 17,500,
Edificio Zonamérica 1, local
106.
In addition, we report that as of December 31, 2023, after
deducting direct and indirect Eduardo Sergio Elsztain's interest
through IFISA, Agroinvestment S.A. and CVCU, and the treasury
shares, the remaining shareholders held 359,437,206 common,
registered, non-endorsable shares of ARS 1 par value each and
entitled to one vote per share, accounting for 61.12% of the issued
and subscribed capital stock.
It should be
considered that in March 2021 the company increased its share
capital by 90 million shares. For each subscribed share, each
shareholder received at no additional cost 1 warrant, that is, 90
million warrants were issued. Likewise, as a consequence of the
payment of cash dividends made on October 12, 2023, certain terms
and conditions of the outstanding warrants to subscribe common
shares were modified, being the current conversion ratio of 1.2548
common shares per warrant exercised and the current exercise price
of USD 0.4508 for each share.The warrants expire on March 10, 2026
and are listed on the Buenos Aires Stock Exchange under the symbol
“CRE3W” and on the NYSE under the symbol
“CRESW”. As of today, the number of warrants
outstanding is 87,662,070.
In the case that
all warrants were converted, the number of shares issued and
subscribed would increase to 704,173,322. We also inform that if
the group of control were to exercise its warrants like the rest of
the shareholders, its stake would increase by 44,091,287 ordinary
shares, which would mean a 39.07% stake on the share capital, that
is, 272,762,005 shares.
Below are the highlights for the three-month period
ended December 31, 2023:
●
The
net result for the first semester of fiscal year 2024 recorded a
gain of ARS 122,205 million compared to ARS 59,907 million in the
same period of 2023, mainly due to the gain from changes in the
fair value of IRSA's investment properties. The gain attributable
to the controlling shareholder was ARS 48,800 million, compared to
ARS 32,929 million in the same period of 2023.
●
The
adjusted EBITDA for the period reached ARS 79,677 million, 45.1%
higher than the same period in 2023. The adjusted EBITDA of the
agricultural segments was ARS 23,857 million, 39.3% higher than
2023, mainly due to higher farmland sales.
●
The
2024 campaign is being developed with better weather conditions in
the region, mainly in Argentina, and correction of international
commodity prices. We hope to plant approximately 282,000 hectares,
in line with the 2023 campaign.
●
During
the semester, in October 2023, we sold a fraction of 4,262 hectares
of reserve with productive potential of “Los Pozos”
farm, in the province of Salta, Argentina, for USD 2.3 million and
in December 2023, we sold a fraction of 500 hectares of
agricultural activity of “El Tigre” farm, in the
province of La Pampa, Argentina, for USD 3.75 million.
●
In
February 2024, the process of distributing the dividend in cash and
in kind, in IRSA shares, and the treasury shares in the portfolio,
approved by the Shareholders’ Meeting on October 5, 2023, to
ADS holders, which was pending, was concluded.
SIGNATURES
Pursuant to the
requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized, in the city of
Buenos Aires, Argentina.
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Cresud
Sociedad Anónima, Comercial, Inmobiliaria, Financiera y
Agropecuaria
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By:
|
/S/ Saúl
Zang
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Saúl
Zang
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Responsible
for the Relationship with the Markets
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February 8,
2024