The Company announces today its results for the first quarter of Fiscal Year 2022.
- The net result for the first quarter of fiscal year 2022 recorded a gain of ARS 2,838 million compared to ARS 11,476 million in the same period of 2021.
- Adjusted EBITDA for the period reached ARS 5,381 million, 31.5% lower than the same period in 2021, a reduction mainly explained by the urban business. Adjusted EBITDA of the agribusiness segments reached ARS 3,593 million, in line with the same period of previous fiscal year.
- The 2022 campaign is developing with higher international commodity prices and margins than the previous one, although with rising costs. We expect to plant approximately 262,000 ha.
- During the quarter, our subsidiary Brasilagro sold a fraction of its Rio do Meio farm for BRL 130.1 million and subsequently, completed the sale of a fraction of its Alto Taquarí farm for BRL 589.0 million.
- In financial matters, during the quarter we issued debt in the local market for the sum of USD 60.6 million, reducing the average financing cost of the company.