Earnings Release IIQ FY 2021
The Company announces today its results for the second quarter of the Fiscal Year 2021.
- The net result for the first semester of fiscal year 2021 recorded a loss of ARS 3,264 million compared to a gain of ARS 2,278 million in the same period of 2020. The result from continuing operations recorded a gain of ARS 3,856 million mainly due to higher results from changes in the fair value of the investment properties from our subsidiary IRSA and lower losses from net financial results.
- Adjusted EBITDA for the first semester of fiscal year 2021 reached ARS 8.894 million, 10.2% higher than in the same period of fiscal year 2020. Agribusiness adjusted EBITDA was ARS 1,354 million and urban properties and investments business (IRSA) adjusted EBITDA was ARS 7,540 million.
- 2021 Campaign is developing with high international commodity prices and under “Niña” weather conditions from moderate to neutral. We expect to plant approximately 260,000 ha.
- As a subsequent event, we have sold our lands in Bolivia to our subsidiary Brasilagro for an amount of USD 30 million and subsequently, we subscribed 6.9 million shares within the framework of its capital increase for BRL 440 million, increasing our participation in Brasilagro, net of treasury shares, from 33.8% to 34.1%.
- In February 2021, we sold 100% of Sociedad Anónima Carnes Pampeanas S.A., owner of a meatpacking facilities plant in La Pampa, Argentina, for the sum of USD 10 million.
- In financial matters, during the quarter we completed an exchange of the Series XXIV Notes for a nominal value of USD 73.6 million and, as a subsequent event, we issued 90 million shares and 90 million warrants for the sum of USD 42.5 million.
