The Company announces today its results for third quarter of Fiscal Year 2022.
- The net result for the 9-month period of fiscal year 2022 was a gain of ARS 31,657 million compared to a loss of ARS 14,318 million in the same period of 2021.
- Adjusted EBITDA for the period reached ARS 29,536 million. Agribusiness adjusted EBITDA reached ARS 18,276 million, 35.7% higher than the same period in 2021 due to better results from grains, sugar cane and farm sales.
- The 2022 campaign continued to develop with La Niña weather conditions, high international commodity prices and higher margins than the previous one, although with rising costs. We planted 255,000 ha in the region and expect a grain production of approximately 850,000 tons.
- During the 9-month period of FY 2022, our subsidiary Brasilagro sold a fraction of its Rio do Meio farm for BRL 130.1 million and completed the sale of a fraction of its Alto Taquarí farm for BRL 336.0 million.
- Regarding urban segment, in December 2021, the Shareholders’ Meetings of IRSA and IRSA PC approved the merger by absorption between the companies, in which IRSA absorbs IRSA PC. The merger has an effective date of July 1, 2021, and the exchange of IRSA PC shares for IRSA shares will take place in the coming days. As a result of the merger, CRESUD stake in IRSA is reduced to 53.7%.