Cresud S.A.C.I.F. y A. Announces Results for the First Semester 2013 Ended December, 2012

Mon Feb 18, 2013 10:15pm EST

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BUENOS AIRES, Argentina,  Feb. 18, 2013  /PRNewswire/ -- Cresud S.A.C.I.F. y A.
(Nasdaq: CRESY, BASE: CRES), today announces results for the First Semester 2013
ended  December 31, 2012.

HIGHLIGHTS

* Net income for the first six months of 2013 amounted to  ARS 176.7 million,
compared to  ARS 23.3 million  in the same period of 2012.  
* Operating income for the first six months of 2013 reached  ARS 556.9 million 
(+53.0% compared to the first six months of 2012) driven by the satisfactory
performance of the Urban and Rural segments and the consolidation of the Madison
Building, in  New York, by IRSA.  
* The Agricultural segment recorded positive results, mainly due to the increase
in crop prices observed during the period and the larger areas planted with
sugarcane.  
* Through our subsidiary BrasilAgro we sold the "Horizontina" farm for a total
amount of  BRL 75.0 million. The farm's book value was  BRL 46 million.  
* The Urban business, through our subsidiary IRSA, has generated very good
results for our company. EBITDA during the first six months of this fiscal year
reached  ARS 666.0 million, 45.5% higher than in the first six months of 2012.  
* On  October 31  past the Shareholders' Meeting approved the payment of cash
dividends for  ARS 120 million, equivalent to  ARS 0.2417  per share (ARS 2.417 
per ADR) which were made available to local shareholders in the month of
November.

Financial Highlights
(In thousands of Argentine Pesos)
Period 6M 2013
Ended  December 31, 2012

 Income Statement                     12/31/2012  12/31/2011  
 Agricultural Business Revenue        527,775     543,553     
 Agricultural Business Gross Profit   108,466     69,731      
 Urban Properties Revenues            1,164,933   945,423     
 Urban Properties Gross Profit        558,590     475,264     
 Consolidated Gross Profit            537,285     649,303     
 Consolidated Profit from Operations  556,924     364,029     
 Profit / (Loss) For the Period       176,718     23,321      
                                                              
 Attributable to:                                             
 Cresud's Shareholders                60,760      -20,711     
 Non-Controlling interest             115,958     44,032      
                                                              
 EPS (Basic)                          0.12        -0.04       
 EPS (Diluted)                        0.11        -           


 Balance Sheet             12/31/2012  06/30/2012  
 Current Assets            2,427,473   1,783,860   
 Non Current Assets        9,149,077   8,541,030   
 Total Assets              11,576,550  10,324,890  
 Current Liabilities       2,581,918   2,018,226   
 Non Current Liabilities   4,150,342   3,615,153   
 Total Liabilities         6,732,260   5,633,379   
 Non-Controlling Interest  2,291,320   2,132,648   
 Shareholders' Equity      2,552,970   2,558,863   


About Cresud:

Cresud is a leading South American agricultural company with a growing presence
in Latin American countries. Cresud is currently involved in a range of
activities including crop production, cattle raising and milk production.
Cresud's business model, which is being rolled out regionally in  Latin America,
taking into account the specific conditions of each country, focuses on the
acquisition, development and exploitation of properties having attractive
prospects for agricultural production and/or value appreciation and the
selective disposition of such properties where appreciation has been realized.

Additionally, Cresud owns a 64.50% stake in IRSA Inversiones y Representaciones
S.A.,  Argentina's largest, most well-diversified real estate company. Through
its subsidiaries, IRSA manages an expanding top portfolio of shopping centers
and office buildings, primarily in  Buenos Aires. The company also develops
residential subdivisions and apartments (specializing in high-rises and
loft-style conversions) and owns three luxury hotels.

A longer version of this press release with detailed information is available on
the web site:  http://www.cresud.com.ar.  

Cresud cordially invites you to participate in its First Semester 2013 Results
Conference Call on  Tuesday, February 19, 2013, at  12:30 PM Eastern Time

If you would like to participate, please call:  
United States:  (888) 841-3494
International:  +1-(706) 758-3350
ID# 92374062

To access the webcast, click on the link below:
http://webcast.mzvaluemonitor.com/Home/Login/693

SOURCE  Cresud S.A.C.I.F. y A.


Investor Relations Department, Cresud S.A.C.I.F. y A., +54-11-4323-7449,
ir@cresud.com.ar

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