Company: CRESW
Filing Date: 2025-03-17
Form Type: 6-K
Source: 0001654954-25-002875
Chunk: 12

Company: CRESUD INC
Filing Date: 2025-03-17
Form: 6-K
Chunk 12
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 period ended December 31, 2024, the net loss from fair value adjustment of investment properties was ARS 226,998. The net impact of the values in pesos of our properties was mainly a consequence of the change in macroeconomic conditions:

Level 2:

(a)**

The value of our office buildings, undeveloped parcels of land and other rental properties measured in real terms decreased by 28.35% during the six-month period ended as of December 31, 2024, due to the variation of the implicit exchange rate which was well below inflation. Likewise, there is an impact for the sales and acquisitions of the period.

**Level 3:

a)**

gain of ARS 51,665 as a consequence of the variation in the projected income growth rate increase and the conversion to dollars of the projected cash flow in pesos according to the exchange rate estimates used in the cash flow from shopping malls.

b)

positive impact of ARS 101,238 resulting from the conversion into pesos of the value of the shopping malls in dollars based on the exchange rate at the end of the period.

c)

a decrease of 189 basis points in the discount rate used for cash flows and a decrease of 155 basis points in the discount rate used for perpetuity, mainly due to a decrease in the country-risk rate component and cost of debt components of the WACC discount rate used to discount the cash flow, which led to an increase in the value of the shopping malls of ARS 122,247.

Additionally, due to the impact of the inflation adjustment, ARS 144,967 were reclassified for shopping malls from “Net gain / loss) from fair value adjustment” to “Inflation Adjustment” in the Statement of Income and Other Comprehensive Income.

|                                                     |     12.31.2023 |         |                        |         |         |           |
|                                                     | Shopping Malls | Offices | Sales and developments |  Hotels |  Others |     Total |
| Revenues                                            |        122,405 |   7,648 |                  9,858 |  41,094 |   2,578 |   183,583 |
| Costs                                               |         -6,335 |    -618 |                 -5,355 | -18,314 |  -1,751 |   -32,373 |
| Gross profit                                        |        116,070 |   7,030 |                  4,503 |  22,780 |