PR Newswire | Nov 20, 2020 09:25AM EST

agricultural company, announces today its results for the first quarter of FY 2021 ended September 30, 2020

11/20 08:24 CST

Cresud S.A.C.I.F. y A. (NASDAQ: CRESY, BYMA: CRES), leading Argentine agricultural company, announces today its results for the first quarter of FY 2021 ended September 30, 2020 BUENOS AIRES, Argentina, Nov. 20, 2020

BUENOS AIRES, Argentina, Nov. 20, 2020 /PRNewswire/ --

HIGHLIGHTS

* The net result for the first quarter of fiscal year 2021 recorded a gain of ARS 7,526 million compared to ARS 9,492 million in the same period of 2020. The result from continuing operations recorded a gain of ARS 13,922 million mainly due to higher results from changes in the fair value of the investment properties from our subsidiary IRSA. * The result of discontinued operations recorded a loss of ARS 6,396 million as a result of the deconsolidation of the investment in Israel since September 30, 2020. * Adjusted EBITDA for the reached ARS 5.811 million, 63.5% higher than in the same period of fiscal year 2020. Agribusiness adjusted EBITDA was ARS 2,244 and urban properties and investments business (IRSA) adjusted EBITDA was ARS 4,913 million. * 2021 Campaign is developing with high international commodity prices and under "Nia" weather conditions from moderate to neutral. We expect to plant approximately 262,000 ha. * As a subsequent event, we completed an exchange of the Class XXIV Notes for a nominal value of USD 73.6 million. The nominal value of the notes presented and accepted for exchange was approximately USD 65.1 million, which represents a 88.41% acceptance, through the participation of 1,098 orders.

Financial Highlights(In millions of Argentine Pesos)3M FY 2021 ended September 30, 2020

Income Statement 09/30/2020 09/30/2019

Agricultural Business Revenue 8,355 8,777

Agricultural Business Gross Profit 2,404 2,254

Urban Properties Revenues 1,219 3,613

Urban Properties Gross Profit 568 2,869

Consolidated Gross Profit 2,899 5,034

Consolidated Profit from Operations 24,269 15,705

Profit for the Period 7,526 9,492

Attributable to:

Cresud's Shareholders 2,893 (3,193)

Non-Controlling interest 4,633 12,685

EPS (Basic) 5.79 (6.57)

EPS (Diluted) 5.62 (6.57)

Balance Sheet 09/30/2020 06/30/2020

Current Assets 40,590 248,708

Non-Current Assets 226,304 490,817

Total Assets 266,894 739,525

Current Liabilities 67,362 186,092

Non-Current Liabilities 106,850 421,928

Total Liabilities 174,212 608,020

Non-Controlling Interest 61,207 104,419

Shareholders' Equity 92,682 131,505

Cresud, leading Argentinean agricultural company with a growing presence in Latin American countries, cordially invites you to participate in its first quarter of the FY 2021 Results Conference Call on Friday, November 20, 2020, at 02:00 PM Eastern Time / 04:00 PM BA Time.

To access the Webinar: https://irsacorp.zoom.us/j/87306808467?pwd=a0NPbi9qNXNzTmxHS1RpK1VmcHgxUT09Webinar ID: 873 0680 8467Password: 726457

In addition, you can participate communicating to this numbers:

Argentina: +54 112 040 0447 or +54 115 983 6950 or +54 341 512 2188 or +54 343 414 5986

Israel: +972 55 330 1762 or +972 3 978 6688

Brazil : +55 11 4700 9668 or +55 21 3958 7888 or +55 11 4632 2236 or +55 11 4632 2237

US: +1 346 248 7799 or +1 646 558 8656 or +1 669 900 9128 or +1 253 215 8782 or +1 301 715 8592

Chile: +56 232 938 848 or +56 41 256 0288 or +56 22 573 9304 or +56 22 573 9305 or +56 23 210 9066

Investor Relations Department. https://www.cresud.com.ar/home-inversores.php?lng=en

Cresud S.A.C.I.F. y A. +5411 4323-7449 ir@cresud.com.ar

Follow us on Twitter: @cresudir

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SOURCE Cresud S.A.C.I.F. y A.