The Company announces today its results for the first quarter of Fiscal Year 2023.
- The net result for the first quarter of fiscal year 2023 registered a profit of ARS 5,233 million compared to ARS 5,195 million in the same period of 2022.
- The adjusted EBITDA for the period reached ARS 7,955 million, 14.3% lower than the same period in 2022. The adjusted EBITDA of the agribusiness segments was ARS 2,808 million, 57.3% lower than the first quarter of the previous year, mainly explained by lower production results from the sugarcane activity in Brazil.
- The 2023 campaign is developing with sustained international commodity prices and good margins per hectare, despite the increase in costs and the Niña climate effect in the region. We expect to plant approximately 260,000 ha.
- During the quarter, our subsidiary Brasilagro acquired the Panamby farm of 10,800 hectares (5,400 productive hectares), located in the state of Mato Grosso, Brazil, for the sum of BRL 285.6 million and, after closing, completed the sale of a fraction of its Morotí field in Paraguay for the sum of USD 1.5 million.
- During the period, we finalized the stock repurchase plan launched in the previous year. The company acquired 0.96% of the capital stock for the sum of ARS 990 million.
- Since November 11, 2022, the Company made available to shareholders a cash dividend in the amount of ARS 3,100 million, equivalent to ARS 5.29/share and ARS/ADS 52.86.