Report of Foreign Issuer (6-k)
02 March 2019 - 6:56AM
Edgar (US Regulatory)
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN ISSUER
PURSUANT
TO RULE 13a-16 OR 15b-16 OF
THE
SECURITIES EXCHANGE ACT OF 1934
For
the month of March, 2019
Cresud
Sociedad Anónima, Comercial,
Inmobiliaria,
Financiera y
Agropecuaria
(Exact name of Registrant as specified in its
charter)
Cresud Inc.
(Translation of registrant´s name into
English)
Republic
of Argentina
(Jurisdiction of incorporation or organization)
Moreno
877
(C1091AAQ)
Buenos
Aires, Argentina
(
Address of principal
executive offices)
Form 20-F ⌧
Form
40-F ☐
Indicate by
check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes o
No
x
CRESUD
S.A.C.I.F. and A.
(THE
“COMPANY”)
REPORT
ON FORM 6-K
Attached is the
English translation of the letter filed with the
Comision Nacional de Valores
and
Bolsa de Comercio de Buenos
Aires
on March 1, 2019.
By letter dated March 1, 2019,
the
company reported
that in compliance with Section 63 of the Regulations
issued by the Buenos Aires Stock Exchange, this is to report the
following information:
1. Results of the period
|
in million ARS
|
|
12/31/2018
|
12/31/2017
|
Results of the period (three-month period)
|
(5,620)
|
11,474
|
Attributable to:
|
|
|
Shareholders
of the controlling company
|
(3,925)
|
5,354
|
Non-controlling
interest
|
(1,695)
|
6,120
|
|
|
|
2. Other integral results of the period
|
in million ARS
|
|
12/31/2018
|
12/31/2017
|
Other integral results of the period
|
1,733
|
(3,604)
|
Attributable to:
|
|
|
Shareholders
of the controlling company
|
501
|
(678)
|
Non-controlling interest
|
1,232
|
(2,926)
|
|
|
|
3. Total integral results of the period
|
in million ARS
|
|
12/31/2018
|
12/31/2017
|
Total integral results of the period
|
(3,887)
|
7,870
|
Attributable to:
|
|
|
Shareholders
of the controlling company
|
(3,424)
|
4,676
|
Non-controlling interest
|
463
|
3,194
|
|
|
|
4. Equity details
|
in million ARS
|
|
12/31/2018
|
12/31/2017
|
Share
Capital
|
479
|
499
|
Treasury
shares
|
5
|
2
|
Change
in capital stock and treasury shares
|
5,396
|
5,396
|
Additional
paid-in capital
|
6,072
|
6,072
|
Premium
for trading of treasury shares
|
53
|
52
|
Legal
Reserve
|
213
|
214
|
Special
Reserve (Resolution CNV 609/12)
|
2,969
|
2,969
|
Cost
of treasury share
|
532
|
80
|
Changes in
non-controlling interest
|
1,248
|
1,469
|
Revaluation
Surplus
|
420
|
-
|
Conversion
reserve
|
4,104
|
3,558
|
Reserve
for stocks-based payments
|
100
|
278
|
Reserve for new project
|
20,064
|
2,263
|
Reserve for defined benefit plans
|
87
|
-
|
Other comprehensive subsidiary results
|
210
|
31
|
Other subsidiary reserves
|
38
|
7
|
Reserve for purchase of securities issued by the company
|
50
|
50
|
Retained earnings
|
(11,722)
|
12,744
|
Shareholders’ Equity attributable to controlling
company’s shareholders
|
26,602
|
32,524
|
Non-controlling
interest
|
68,795
|
61,732
|
Total shareholder's equity
|
95,397
|
94,256
|
5. Adjustments of previous results
|
in million ARS
|
|
12/31/2018
|
Change in the valuation method of investment
properties
|
(191)
|
Attributable to:
|
|
Shareholders
of the controlling company
|
(121)
|
Non-controlling
interest
|
(70)
|
In compliance with the Article 62 Section l) 6) and 8) of the
referred Regulations, we report that as of the closing date of the
financial statements, the Company’s capital stock was ARS
501,642,804 (including treasury shares), divided into 501,642,804
common, registered, non-endorsable shares of ARS 1 par value each
and entitled to one vote per share.
The Company’s principal shareholders, direct or indirectly,
are Inversiones Financieras del Sur S.A (IFISA) and Agroinvestment
S.A with 182,052,303 shares, accounting for 36.64% of the share
capital (substracted the treasury shares), belonging both companies
to the same controlling group and beneficial owner.
IFISA
is a company incorporated and domiciled at Calle 8, km 17,500,
Edificio Zonamérica 1, local 106, Montevideo, Uruguay and
Agroinvestment S.A is a company incorporated and domiciled at
Cambará 1620, 2nd floor, 202 office, Carrasco, Montevideo,
Uruguay.
In addition, we report that as of December 31, 2018, after
deducting Inversiones Financieras del Sur S.A. and Agroinvestment
S.A’s interest and the treasury shares, the remaining
shareholders held 314,766,604 common, registered, non-endorsable
shares of ARS 1 par value each and entitled to one vote per share,
accounting for 62.75% of the issued and subscribed capital
stock.
Below are the highlights for the three-month period
ended December 31, 2018:
●
From this quarter
onwards, the Company releases its Financial Statements adjusted for
inflation according to the rule IAS 29 and
local regulations that set that companies using
the Argentine peso as their functional currency must
release Financial Statements adjusted for inflation since December
31, 2018. Thus, all non-monetary assets and liabilities, the
Equity, as well as all comparative figures for previous quarters or
fiscal years, have been adjusted to constant currency as of
December 31, 2018.
●
Net result for the
first semester of fiscal year 2019 recorded a loss of ARS 5,620
million compared to a gain of ARS 11,476 million in the same period
of the FY 2018, mainly due to lower results from changes in the
fair value of IRSA investment properties in Argentina Business
Center.
●
Adjusted EBITDA for
the 6-month period of fiscal year 2019 grew 27.4% compared to the
same period of 2018, reaching ARS 9,973 million, of which ARS 1,672
million came from the agricultural business that recorded higher
crop production results and farmland sales and ARS 8,300 million
came from the urban property and investment segment (IRSA), whose
rental segment in Argentina increased by 6.2% in the
period.
●
Very good weather
conditions in the region are expected for 2019 campaign. We hope to
plant approximately 258,000 ha and develop 8,500 ha in the
region.
●
Our subsidiary
Brasilagro has completed in the six-month period of FY 2019 partial
sales of Jatobá farm (Jaborandi - Bahía) and Alto Taquari
(Mato Grosso), for a total amount of BRL 185.8
million.
●
On October 29, our
Shareholders Meeting approved a distribution among its shareholders
of 20,656,215 treasury shares, representing 4.1% of the share
capital.
SIGNATURES
Pursuant to the
requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized, in the city of
Buenos Aires, Argentina.
|
Cresud
Sociedad Anónima, Comercial, Inmobiliaria, Financiera y
Agropecuaria
|
|
|
|
By:
|
/S/ Saúl
Zang
|
|
|
|
Saúl
Zang
|
|
|
|
Responsible
for the Relationship with the Markets
|
|
March
1,
2019
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