CRESUD INC. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on September 7, 2026, reports the financial results for CRESUD S.A.C.I.F. and A. (Cresud) for the fiscal year ended June 30, 2026. Cresud is an Argentine company engaged in agribusiness, urban properties, and investments.
Key Financial Metrics
Financial results are presented in millions of Argentine Pesos (ARS) unless otherwise noted.
| Metric | Fiscal Year 2026 | Fiscal Year 2025 |
|---|---|---|
| Net Income (Total) | 372,280 | 299,635 |
| Net Income (Controlling Shareholders) | 177,256 | 128,400 |
| Net Income (Non-controlling Interest) | 195,024 | 171,235 |
| Total Comprehensive Income | 355,108 | 237,541 |
| Adjusted EBITDA (Agribusiness) | 17,812 | Not provided |
| Adjusted EBITDA (Urban Properties/IRSA) | 291,055 | Not provided |
| Total Shareholders' Equity | 3,154,507 | 2,956,467 |
| Dividends Distributed | 93,800 | Not provided |
Market Data (as of June 30, 2026): Market capitalization was approximately USD 795.1 million (70,930,830 ADS at USD 11.21 per ADS). The dividend yield was approximately 8%.
Material Changes vs. Prior Period
- Profitability: Net income increased by approximately 24% year-over-year, rising from ARS 299,635 million to ARS 372,280 million.
- Equity: Total shareholders' equity grew by roughly 6.7% to ARS 3,154,507 million.
- Comprehensive Income: Other comprehensive income improved significantly, moving from a loss of ARS 62,094 million in 2025 to a loss of ARS 17,172 million in 2026.
- Capital Structure: The company issued approximately USD 256 million in notes to reduce average financing costs and extend maturity. The 2021 warrant program was completed.
Outlook, Commentary, and Risks
Operational Highlights:
- Agribusiness: The 2026 campaign featured a 5% increase in planted area to 314,000 hectares, achieving record grain production exceeding one million tons. Argentina saw record wheat production and strong soybean/corn yields. Livestock activity reached record levels in production, prices, and margins.
- Challenges: BrasilAgro faced a challenging campaign, particularly in sugarcane due to weather, fires, and operational issues, resulting in tighter margins for other crops.
- Real Estate: BrasilAgro sold a 921-hectare portion of the Morotí farm in Paraguay for USD 1.5 million, with USD 0.6 million recognized at year-end.
Corporate Governance: The Board of Directors is analyzing proposals for the next annual shareholders' meeting. Eduardo Sergio Elsztain remains the principal shareholder with a 39.22% stake (net of treasury shares).
Investor Verification Checklist
- Verify the impact of the 24% net income increase on cash flow generation, given the high inflation environment in Argentina.
- Confirm the specific financial impact of the BrasilAgro sugarcane operational issues and fires on the agribusiness segment's margins.
- Review the terms of the USD 256 million in newly issued notes to assess debt maturity profiles and interest rate exposure.
- Validate the sustainability of the 8% dividend yield and the source of funds for the ARS 93,800 million distribution.
- Monitor the status of the Board's proposals for the upcoming annual shareholders' meeting.