Cresud Delivers ARS193.9B Profit, 19% EBITDA Decline, 5.8% Planting Increase
Cresud reported net income of ARS193,932 million for H1 FY26 versus a ARS28,851 million loss a year earlier, driven by fair value gains from IRSA investment properties. Adjusted EBITDA fell 19% to ARS137,967 million, with agribusiness EBITDA at ARS15,350 million, urban properties EBITDA at ARS132,333 million and planting up 5.8% to 316,000 hectares.
1. Net Income Recovery
Cresud recorded net income of ARS193,932 million in the first half of FY26 compared with a ARS28,851 million loss in the same period of FY25. This strong turnaround was primarily driven by a gain from changes in the fair value of its IRSA investment properties.
2. Adjusted EBITDA and Segment Performance
Adjusted EBITDA for H1 FY26 totaled ARS137,967 million, marking a 19.0% decline year-over-year. The agribusiness segment contributed ARS15,350 million, while the urban properties and investments business via IRSA generated ARS132,333 million.
3. Agricultural Operations
The 2026 regional campaign saw planting of 316,000 hectares, up 5.8% from the prior year. Cresud achieved a record wheat harvest, managed summer crop development under variable rainfall conditions and benefited from strong livestock margins driven by firm prices and robust demand.
4. Capital and Dividends
During the quarter and subsequently, Cresud issued Series L and LI local notes totaling USD117.2 million. On November 7, 2025, the company distributed ARS93,782 million in dividends (ARS65,080 million cash and ARS28,702 million in IRSA shares), reflecting an approximate 8% yield.