In
compliance with the Article 63 Section l) 6) and 8) of the referred
Regulations, we report that as of the closing date of the financial
statements, the Company’s capital stock was ARS 501,642,804
(including treasury shares), divided into 501,642,804 common,
registered, non-endorsable shares of ARS 1 par value each and
entitled to one vote per share.
As of December 31, 2020, the Company’s principal shareholder
and beneficial owner is Eduardo Sergio Elsztain. Direct or
indirectly, through the vehicles Inversiones Financieras del
Sur S.A (IFISA), Agroinvestment S.A and Consultores Venture Capital
Uruguay S.A.(CVCU), owns 182,111,933 shares, accounting for 36.47%
of the share capital (net of treasury shares). Eduardo
Sergio Elsztain is domiciled at Bolivar 108, 1st floor, Buenos
Aires City Center, IFISA is a company incorporated and domiciled at
Calle 8, km 17,500, Edificio Zonamérica 1, local 106,
Montevideo, Uruguay, Agroinvestment S.A is a company incorporated
and domiciled at Cambará 1620, 2nd floor, 202 office,
Carrasco, Montevideo, Uruguay and CVCU
is
a company incorporated and domiciled at Calle 8, km 17,500,
Edificio Zonamérica 1, local
106.
In addition, we report that as of December 31, 2020, after
deducting direct and indirect Eduardo Sergio Elsztain's interest
through IFISA, Agroinvestment and CVCU, and the treasury shares,
the remaining shareholders held 317,296,552 common, registered,
non-endorsable shares of ARS 1 par value each and entitled to one
vote per share, accounting for 63.53% of the issued and subscribed
capital stock.
Below are the highlights for the three-month period
ended December 31, 2020:
●
The net result
for the first semester of fiscal year 2021 recorded a loss of ARS
3,264 million compared to a gain of ARS 2,278 million in the same
period of 2020. The result from continuing operations recorded a
gain of ARS 3,856 million mainly due to higher results from changes
in the fair value of the investment properties from our subsidiary
IRSA and lower losses from net financial results.
●
Adjusted EBITDA for
the first semester of fiscal year 2021 reached ARS 8.894 million,
10.2% higher than in the same period of fiscal year 2020.
Agribusiness adjusted EBITDA was ARS 1,354 million and urban
properties and investments business (IRSA) adjusted EBITDA was ARS
7,540 million.
●
2021 Campaign is
developing with high international commodity prices and under
“Niña” weather conditions from moderate to
neutral. We expect to plant approximately 260,000 ha.
●
As a subsequent
event, we have sold our lands in Bolivia to our subsidiary
Brasilagro for an amount of USD 30 million and subsequently, we
subscribed 6.9 million shares within the framework of its capital
increase for BRL 440 million, increasing our participation in
Brasilagro, net of treasury shares, from 33.8% to
34.1%.
●
In February 2021,
we sold 100% of Sociedad Anónima Carnes Pampeanas S.A., owner
of a meatpacking facilities plant in La Pampa, Argentina, for the
sum of USD 10 million.
●
In financial
matters, during the quarter we completed an exchange of the Series
XXIV Notes for a nominal value of USD 73.6 million and, as a
subsequent event, we issued 90 million shares and 90 million
warrants for the sum of USD 42.5 million.