The Company announces today its results for the Fiscal Year 2022.
- We concluded a regional agricultural campaign with very good results, motivated by an active demand for grains, high commodity prices, mixed weather conditions and a more dynamic real estate market, mainly in Brazil. We planted 254,000 hectares and reached a grain production of 800,000 tons.
- Adjusted EBITDA reached ARS 47,739 million in fiscal year 2022, ARS 19,054 million from the agricultural business and ARS 28,685 million from the urban property and investment business, increasing 10% compared to fiscal year 2021.
- The net result for fiscal year 2022 was a gain of ARS 63,000 million, compared to a loss of ARS 40,179 in the previous fiscal year.
- During the fiscal year, our subsidiary Brasilagro sold a fraction of its Rio do Meio farm for BRL 130.1 million and a fraction of its Alto Taquarí farm for BRL 336.0 million.
- Regarding the urban business, in December 2021, it was concluded the merger between IRSA and IRSA Commercial Properties that has an effective date of July 1, 2021. CRESUD's current stake in IRSA is 53.9%.
- In financial matters, we issued debt in the local market for USD 125.6 million and subsequently, we completed the exchange of the Series XXIII Notes for USD 113 million within the framework of the Resolution of the Central Bank of the Argentine Republic, reaching an acceptance of 86.7%.
- Subsequently, we launched a share repurchase plan for up to ARS 1,000 million, which to date has registered an advance of 99%.