Company: CRESW
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001654954-25-012195
Chunk: 319

Company: CRESUD INC
Filing Date: 2025-10-24
Form: 20-F
Item: Item 5
Chunk 319
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 associates and joint ventures. 

Others. The share of profit / (loss) of associates from the Others segment increased by 133.6%, from a net profit of ARS 20,145 million during the fiscal year ended June 30, 2023, to a net profit of ARS 47,068 million during the fiscal year ended June 30, 2024, mainly as a result of the variation from our investments in Banco Hipotecario by ARS 24,813 million and La Rural S.A. by ARS 6,891 million positive.

174

Financial results, net 2024 vs. 2023

The Company financial results, net recorded a variation of ARS 81,157 million, from a profit of ARS 127,395 million in the fiscal year ended June 30, 2023 to a profit of ARS 208,552 million in the fiscal year ended June 30, 2024. This was mainly due to a higher positive result from the fair value measurement of financial assets and liabilities at fair value through profit or loss, net, primarily driven by the country’s macroeconomic conditions, which caused fluctuations in bond values, along with an increase in earned interest. These were partially offset by a negative result from exposure to changes in the purchasing power of the currency, a loss in net results from derivative financial instruments (excluding commodities), and a decrease in the gain generated by exchange rate differences.

Income Tax 2024 vs. 2023

The Company adopts the deferred tax method to calculate the income tax for the reported periods, thus recognizing temporary differences as tax assets and liabilities. The income tax charge for the year went from a profit of ARS 376,685 million during the fiscal year ended June 30, 2023, to a profit of ARS 86,261 million during the fiscal year ended June 30, 2024, out of which a profit of ARS 25,162 million derives from the agricultural business and a profit of ARS 61,099 million derives from the urban properties and investment. During the fiscal year ended June 30, 2024, a positive deferred tax result was observed, affected by the fair value changes of investment properties, which was partially offset by a negative result from current income tax. Additionally, during the previous fiscal year, a reversal of the provision for income tax from prior fiscal years was made, see the Income Tax section for the fiscal year 2023.

Net profit 202