The Company announces today its results for the third quarter of Fiscal Year 2023.
-The net result for the nine-month period of fiscal year 2023 showed a profit of ARS 36,331 million compared to a profit of ARS 64,674 million registered in the same period of 2022.
-Adjusted EBITDA for the nine-month period of 2023 reached ARS 23,696 million, decreasing by 49.2% compared to the same period in 2022. Agribusiness adjusted EBITDA was ARS 3,729 million, 89,3% lower than the same period in 2022, mainly explained by lower productive results from the grain activity in Argentina and sugarcane in Brazil and lower farmland sales.
-The 2023 campaign is progressing with sustained commodity prices, strong costs pressure and adverse weather conditions in the region, mainly in Argentina, where crop yields are being affected by one of the worst droughts in history.
-During the quarter, our subsidiary Brasilagro sold the remaining 5,517 hectares of its Araucaria farm, located in the State of Goiás, Brazil, for BRL 417.8 million.
-Subsequently, we issued Series XLI and XLII notes in the local market for the sum of USD 50 million, whose funds were used to cancel short term liabilities.
-In May 2023, the Company distributed to its shareholders a cash dividend of ARS 9,500 million, equivalent to ARS/share 16.52 and ARS/ADS 165.24. Likewise, it distributed 12,670,512 treasury shares, equivalent to 2.20% of the capital stock.