The Company's market capitalization as of June 30, 2024 was
approximately USD 490 million (59,635,532 ADS with a price per ADS
of USD 8.22).
As of June 30, 2024, the Company’s principal shareholder and
beneficial owner is Eduardo Sergio Elsztain. Direct or
indirectly, through the vehicles Inversiones Financieras del
Sur S.A (IFISA), Consultores Venture Capital Uruguay S.A. (CVCU)
and Consultores
Asset Management S.A.,
owns 230,771,688 shares, accounting for 38.82% of the share capital
(net of treasury shares). Eduardo
Sergio Elsztain is domiciled at Bolivar 108, 1st floor, Buenos
Aires City Center, IFISA is a company incorporated and domiciled at
Calle 8, km 17,500, Edificio Zonamérica 1, local 106,
Montevideo, Uruguay, CVCU
is
a company incorporated and domiciled at Calle 8, km 17,500,
Edificio Zonamérica 1, local 106,
and Consultores Asset
Management S.A. is a company incorporated and domiciled at Bolivar
108, 1st floor, Buenos Aires City Center,
Argentina.
In addition, we report that as of June 30, 2024, after deducting
direct and indirect Eduardo Sergio Elsztain's interest through
IFISA, CVCU and Consultores
Asset Management S.A., the remaining shareholders
held 363,619,069 common, registered, non-endorsable shares of ARS 1
par value each and entitled to one vote per share, accounting for
61.18% of the issued and subscribed capital stock (net of treasury
shares).
It should be
considered that in March 2021 the company increased its share
capital by 90 million shares. For each subscribed share, each
shareholder received at no additional cost 1 warrant, that is, 90
million warrants were issued.
Additionally, as
a result of the cash dividend payment made on May 14, 2024, certain
terms and conditions of the outstanding options to subscribe for
common shares were modified, with the current conversion ratio
being 1.3146 common shares of nominal value per exercised option
and the current exercise price being USD 0.4303 per
share.The options expire on March 10, 2026 and are listed on
the Buenos Aires Stock Exchange under the symbol
“CRE3W” and on the NYSE under the symbol
“CRESW”. As of today, the number of warrants
outstanding is 85,998,622.
In the case that
all warrants were converted, the number of shares issued and
subscribed would increase to 709,409,108. We also inform that if
the group of control were to exercise its warrants like the rest of
the shareholders, its stake would increase by 46,192,546 ordinary
shares, which would mean a 39.15% stake on the share capital, that
is, 276,964,234 shares.
Below are the highlights for the fiscal year ended
June 30, 2024:
●
The
net result for fiscal year 2024 recorded a gain of ARS 104,129
million compared to a gain of ARS 279,709 million in 2023.
●
The
company's adjusted EBITDA reached ARS 256,396 million in fiscal
year 2024, ARS 80,066 million from the agricultural business and
ARS 176,330 million from the urban properties and investments
business, increasing 23.5% compared to fiscal year 2023.
●
We
concluded a campaign with productive challenges in the region and
lower commodity prices. We planted 277,000 hectares in the region
producing 707,000 tons of grains, 7% below last season due to lack
of rains in the north of Argentina and in the areas where
Brasilagro produces, impacting our yields.
●
Livestock
activity, focused on own farms in the Northwest of Argentina and
Brazil, closed the year with high levels of meat production and
very good results due to a significant improvement in prices in
Argentina.
●
During
the year we sold 3 fractions of farms in the region for a total
amount of USD 75 million, generating a profit of approximately USD
48 million.
●
During
the year, we distributed cash dividends for a total amount of ARS
52,000 million and in IRSA shares for the amount of 22.1 million,
in addition to treasury shares distributed for approximately 1% of
the stock capital.