Cresud SACIF y A is an agricultural company, producing grains, sugar cane, meat, and milk, as well as focusing on acquisition, development, and exploitation of agricultural properties for rental, shopping centers, and hotels.
Cresud is an agricultural company and the farming arm of Grupo IRSA, specializing in land acquisition, development, and operation, with over 745,000 hectares across Argentina, Brazil, Bolivia, and Paraguay. The company's operations include crop production (grains, sugarcane), livestock, and real estate, with significant financial results in its last fiscal year ending June 2024. Cresud also holds substantial interests in IRSA, a leading real estate firm, and Banco Hipotecario, forming a major Argentine business conglomerate.
Cresud has sold another 3,630 hectares of land in Salta province for $2.2 million, a move prompted by the upcoming EU anti-deforestation regulations that will ban agricultural products from deforested areas after 2020. This is the second such sale from the "Los Pozos" establishment, as the company seeks to manage its extensive land reserves in anticipation of the new rules affecting key Argentine agro-industrial exports like soy and beef. The sale generated a significant accounting gain for Cresud, highlighting its strategic adjustments to evolving international environmental standards.
Cresud, an Argentine agricultural company founded in 1936, has expanded its operations to 860,000 hectares across Argentina, Brazil, Bolivia, and Paraguay. The company's strategy involves acquiring land in less desirable areas, improving its productivity, and then selling it to reinvest. Cresud views land as an asset for production and sale, actively participating in capital markets and real estate, and currently manages 120,000 hectares of crops in Argentina and 80,000 head of cattle.
Eduardo Elsztain, a former partner of George Soros, has built a successful real-estate empire in Argentina by focusing on tangible assets like shopping malls and farmland, avoiding speculative investments. His company, IRSA Inversiones y Representaciones, is thriving despite Argentina's economic recession and high inflation, demonstrating a strategy resilient to the country's volatile financial landscape. Elsztain remains optimistic about Argentina's future, anticipating a pro-market shift in the upcoming elections that could lead to an economic boom.
Cresud, a leading Argentine agricultural company, announced the acquisition of 1,250 hectares in La Pampa province for US$4.5 million, expanding its agricultural land. The purchase reinforces Cresud's presence in Argentina, where it already manages over 204,905 productive hectares across various sectors. The company's ADR on the NYSE saw an increase following the announcement.
The local and Wall Street stock markets closed the week with a strong recovery, continuing their upward trend. The S&P Merval index rose 2.4%, driven by significant gains in companies like Grupo Financiero Galicia and IRSA. Meanwhile, bond markets saw mixed performance with some increases and decreases, and the country risk (riesgo país) decreased slightly.
All our core financial tools are completely free. Create an account to save your research, get personalized recommendations, and enjoy unlimited access.