Cresud S.A.C.I.F. y A. Announces Results for the First Quarter 2017 ended September 30, 2016

BUENOS AIRES, Argentina, Nov. 11, 2016

HIGHLIGHTS

• Operating Income for IQ17 reached ARS 1,133 million while the net result registered a loss of ARS 873 million (ARS 485 million to Cresud' shareholders) mainly explained by higher financial losses due to the consolidation of IDB Development Corporation and exchange rate differences.
• The current campaign presents with good climate conditions in the region as well as sustained commodity prices
• We have sold a farm in Argentina during the quarter for $ 6 million.
• We expect to plant approximately 196,000 ha and develop 12,924 ha in the region during this campaign.
• Our urban properties and investments business showed good operating results. EBITDA from the rental segment grew by 25% in the IQ17 compared to the same period of FY16.

Financial Highlights
(In millions of Argentine Pesos)
First Quarter of FY 2017
Ended September 30, 2016 ARIVA.DE Börsen-Geflüster Kurse Cresud SA ADR 9,46 $ -1,56%
Income Statement	09/30/2016	09/30/2015
Agricultural Business Revenue	1,120.0	681.0
Agricultural Business Gross Profit	95.0	96.0
Urban Properties Revenues	18,356.0	721.0
Urban Properties Gross Profit	5,433.0	541.0
Consolidated Gross Profit	5,528.0	637.0
Consolidated Profit from Operations	1,140.0	687.0
Profit / (Loss) For the Period	(873.0)	(356.0)
Attributable to:
Cresud's Shareholders	(485.0)	(288.0)
Non-Controlling interest	(388.0)	(68.0)
EPS (Basic)		(0.59)
EPS (Diluted)		(0.59)
Balance Sheet	09/30/2016	06/30/2016
Current Assets	61,341	45,207
Non Current Assets	109,125	120,799
Total Assets	170,466	166,006
Current Liabilities	52,193	45,599
Non Current Liabilities	102,687	105,169
Total Liabilities	154,880	150,768
Non-Controlling Interest	14,889	14,214
Shareholders' Equity	15,586	15,238

About Cresud:
Cresud is a leading Argentinean agricultural company with a growing presence in Latin American countries. Cresud is currently involved in a range of activities including crop production, cattle rising 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 63.38% 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. Also owns 3 premium hotels in Argentina, a huge landbank for future developments, 30% of Banco Hipotecario and some international opportunistic investments, including a 68.3% stake in the largest holding in Israel, IDB Development Corporation.

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 Quarter of FY 2017 Results Conference Call on Monday, November 14, 2016, at 1:00 PM Eastern Time.

If you would like to participate, please call: 
United States:  (877) 317-6776
International:  +1-(412) 317-6776
ID# CRESUD

To access the webcast, click on the link below:  
http://webcast.neo1.net/Cover.aspx?PlatformId=Yg6UbqaVnmu51Gpu6s94NA%3D%3D

Investor Relations Department
Cresud S.A.C.I.F. y A.
+5411 4323-7449
ir@cresud.com.ar 
www.cresud.com.ar 
Follow us on Twitter: @cresudir

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cresud-sacif-y-a-announces-results-for-the-first-quarter-2017-ended-september-30-2016-300361717.html

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