Profile: Cresud SACIF y A (CRESY.O)
Cresud Sociedad Anonima Comercial, Inmobiliaria, Financiera y Agropecuaria (Cresud), incorporated on Febraury 19, 1937, is engaged in the production of basic agricultural commodities with a presence in the agricultural sector of Brazil, through its investment in BrasilAgro-Companhia Brasileira de Propriedades Agricolas (BrasilAgro), as well as in other Latin American countries. The Company is involved in farming activities, including grains and sugarcane production, cattle raising and milk production. In addition, the Company leases lands to third parties and perform agency and agro-industrial services, including a feedlot and a meat packing plant. It is also engaged in the Argentine real estate business through its subsidiary IRSA, which is an Argentina-based real estate company. IRSA is engaged in the development, acquisition and operation of shopping centers, premium offices and luxury hotels in Argentina, as well as the development of residential properties. It operates in two businesses areas, which include Agricultural and Investment and Development Properties businesses.
As of June 30, 2014, the Company owned 32 farmlands with approximately 636,327 hectares distributed in Argentina, Brazil, Bolivia and Paraguay. As of June 30, 2014, approximately 122,632 hectares of the land it owns are used for crop production, approximately 76,611 hectares are for cattle production, 85,000 hectares are for sheep production, 2,864 hectares are for milk production and approximately 13,311 hectares are leased to third parties for crop and cattle beef production.
The Company’s Agricultural business consists of eight operating segments: Crops segment consists of planting, harvesting and sale of crops including wheat, corn, soybeans, cotton and sunflower. Cattle segment consists of breeding, purchasing or fattening of free-range cattle for sale to meat processors and local livestock auction markets. Dairy segment consists of breeding or purchasing dairy cows for the production of raw milk for sale to local milk and milk-related products producers. Sugarcane segment consists of planting, harvesting and sale of sugarcane. Agricultural Rentals and Services segment includes services, such as irrigation and farmland leases to third parties. Land Transformation and Sales segment consists of the identification and acquisition of underdeveloped and undermanaged farmland property and the sale of farmland. Agro-industrial segment consists of feedlot farming for slaughtering process in its own packing plant or for cattle finishing services to third parties. Others segment consists of brokerage activities.
The Company’s Investment and Development Properties consists of six operating segments: Shopping Centers Properties segment includes the operating results from its shopping centers consisting of lease and service revenue from tenants. Offices and Others segment includes the operating results of its lease and service revenues of office space and other non-retail building properties consisting of lease and service revenue from tenants. Sales and Developments segment includes the operating results of its acquisition or construction of housing and other properties for sale. Hotels segment includes the operating results of its hotels consisting of room, catering and restaurant revenues. International segment includes the consolidated results of operations of its office building property located at 183 Madison Avenue in New York, United States of America. Financial Operations and Others segment includes the income or loss generated by its associates Banco Hipotecario and Tarshop S.A. and the residual financial operations from its subsidiary Apsamedia. Banco Hipotecario is a full-service commercial bank offering a range of banking activities and related financial services to individuals, small-and medium-sized companies and large corporations, which include mortgage lender, provider of mortgage-related insurance and mortgage loan services.
Cresud SACIF y A
Moreno 877, piso 23
BUENOS AIRES C1091AAQ