Q2 2025 Cresud SACIF y A Earnings Call Transcript
Key Points
- Cresud SACIF y A (CRESY) reported a 9% increase in planted area compared to the previous year, achieving a record size in total agriculture across four countries.
- The company benefited from favorable climate conditions in the region, contributing to a positive outlook for crop yields.
- A reduction in crop export taxes in Argentina has led to a 5% increase in prices for farmers, benefiting the agricultural sector.
- Cresud SACIF y A (CRESY) distributed a significant dividend of $45,000 million pesos in November, representing a 7% dividend yield.
- The company achieved 100% occupancy in its office portfolio, indicating strong demand and effective asset management.
- Cresud SACIF y A (CRESY) reported a loss of ARS40.9 billion pesos, primarily due to non-cash effects related to the fair value of investment properties.
- The company experienced a decrease in tenant sales in its malls, with a decline of 8.5% compared to the same quarter last year.
- The hotel segment faced challenges with decreased revenues and occupancy due to the new economic environment in Argentina.
- The farming activity saw a drop in grain activity, attributed to lower prices and yields compared to the previous year.
- Cresud SACIF y A (CRESY) faced negative financial results due to the appreciation of the peso, impacting the valuation of investment properties and dollar-denominated debt.
Good morning, everyone. I'm Santiago Donato, investor relations officer of CRESUD, and I welcome you to the second quarter 2025 results conference call. First of all, I would like to remind you that the replay of this webinar, the presentation, and the earnings release will be available on our website at www.cresud.com.ar.
After management remarks, there will be a question-and-answer session for analysts and investors (Operator instruction).
I will now turn the call over to Alejandro Elsztain, CEO. Please go ahead.
Good morning, everybody. We are beginning page number 2, the main events for the second quarter of 2025. We have this year, 2025, a very big regional campaign. We increased comparing last year planted area 9%, and we have our record in size in total agriculture between the combination of the four countries leased and
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