Company: CRESW
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001654954-25-012195
Chunk: 268

Company: CRESUD INC
Filing Date: 2025-10-24
Form: 20-F
Item: Item 5
Chunk 268
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 2025.

Land transformation and sales. The costs of the Land Transformation and Sales segment increased by 22.3%, from ARS 318 million for the fiscal year ended June 30, 2024, to ARS 389 million for the fiscal year ended June 30, 2025. This variation is mainly explained by farmland sales that occurred during both fiscal years, considering that in the fiscal year ended June 30, 2025, there was a higher number of hectares sold compared to the fiscal year ended June 30, 2024.

Others. The costs of the Others segment increased by 24.3%, from ARS 85,248 million for the fiscal year ended June 30, 2024, to ARS 105,934 million for the fiscal year ended June 30, 2025. This increase is mainly related to higher consignment and storage costs. Costs of the Others segment, measured as a percentage of revenues from this segment, increased from 65.9% during the fiscal year ended June 30, 2024, to 87.3% during the fiscal year ended June 30, 2025.
Urban Properties and Investment Business

Shopping Malls. Costs associated with the Shopping Malls segment increased by 38.6%, from ARS 14,937 million during the fiscal year ended June 30, 2024, to ARS 20,705 million during the fiscal year ended June 30, 2025, primarily due to higher activity levels at the shopping malls, which led to higher operating costs, mainly explained by: (i) an increase of ARS 1,406 million in amortization and depreciation charges, partially due to the recognition of the Terrazas de Mayo brand acquired during the fiscal year ended June 30, 2025, as well as the capitalization of construction works in progress; (ii) an increase of ARS 1,293 million in rents and expenses; (iii) an increase of ARS 1,141 million in fees and compensations for services; (iv) an increase of ARS 961 million in salaries, social security charges and other personnel administrative expenses; (v) an increase of ARS 598 million in maintenance, security, cleaning, repairs and related expenses; (vi) an increase of ARS 547 million in taxes; partially offset by (vii) a decrease of ARS 96 million in bank expenses; and (viii)