Type of
stock
|
CAPITAL STATUS
|
|
Authorized
to be offered publicly (Shares)
|
Subscribed,
Issued and Paid-in (millions of Ps.)
|
|
Ordinary certified
shares of Ps. 1 face value and 1 vote each
|
501,642,804
(*)
|
502
|
Glossary
of terms
|
|
Unaudited
Condensed Interim Consolidated Statements of Financial
Position
|
|
Unaudited
Condensed Interim Consolidated Statements of
Operations
|
|
Unaudited
Condensed Interim Consolidated Statements of Comprehensive Income /
(Operations)
|
|
Unaudited
Condensed Interim Consolidated Statements of Changes in
Shareholders’ Equity
|
|
Unaudited
Condensed Interim Consolidated Statements of Cash
Flows
|
|
Notes
to the Unaudited Condensed Interim Consolidated Financial
Statements:
|
|
Note 1
– The Group’s business and general
information
|
|
Note 2
– Summary of significant accounting policies
|
|
Note 3
– Seasonal effects on operations
|
|
Note 4
– Acquisitions and disposals
|
|
Note 5
– Financial risk management and fair value
estimates
|
|
Note 6
– Segment information
|
|
Note 7
– Information about the main subsidiaries
|
|
Note 8
– Investments in joint ventures
|
|
Note 9
– Investments in associates
|
|
Note 10
– Investment properties
|
|
Note 11
– Property, plant and equipment
|
|
Note 12
– Trading properties
|
|
Note 13
– Intangible assets
|
|
Note 14
– Biological assets
|
|
Note 15
– Inventories
|
|
Note 16
– Financial instruments by category
|
|
Note 17
– Trade and other receivables
|
|
Note 18
– Financial assets held for sale
|
|
Note 19
– Derivative financial instruments
|
|
Note 20
– Cash flow and cash equivalents information
|
|
Note 21
– Trade and other payables
|
|
Note 22
– Provisions
|
|
Note 23
– Borrowings
|
|
Note 24
– Taxation
|
|
Note 25
– Shareholders’ Equity
|
|
Note 26
– Revenues
|
|
Note 27
– Costs
|
|
Note 28
– Expenses by nature
|
|
Note 29
– Other operating results, net
|
|
Note 30
– Financial results, net
|
|
Note 31
– Related parties transactions
|
|
Note 32
– Cost of sales and services provided
|
|
Note 33
– Foreign currency assets and liabilities
|
|
Note 34
– Groups of assets and liabilities held for sale
|
|
Note 35
– Result from discontinued operations
|
|
Note 36
– CNV Resolution N° 624/14 – Storage of
documentation
|
|
Note 37
– Subsequent Events
|
|
|
|
Review
report on the Unaudited Condensed Consolidated Financial
Statements
|
|
Terms
|
|
Definitions
|
Acres
|
|
Agropecuaria Acres del Sud S.A.
|
Adama
|
|
Adama Agricultural Solutions Ltd.
|
Agropecuarias SC
|
|
Agropecuarias Santa Cruz de la Sierra S.A.
|
BACS
|
|
Banco de Crédito y Securitización S.A.
|
Baicom
|
|
Baicom Networks S.A.
|
Bartan
|
|
Bartan Holdings and Investments Ltd.
|
BASE
|
|
Buenos Aires Stock Exchange
|
BCRA
|
|
Central Bank of the Argentine Republic
|
BHSA
|
|
Banco Hipotecario S.A.
|
BMBY
|
|
Buy Me Buy You (Note 3.A.a)
|
BNSA
|
|
Boulevard Norte S.A.
|
Brasilagro
|
|
Brasilagro-Companhia Brasileira de Propriedades
Agrícolas
|
CAMSA
|
|
Consultores Assets Management S.A.
|
Carnes Pampeanas
|
|
Sociedad Anónima Carnes Pampeanas S.A.
|
Cellcom
|
|
Cellcom Israel Ltd.
|
Clal
|
|
Clal Holdings Insurance Enterprises Ltd.
|
CNV
|
|
Securities Exchange Commission
|
Condor
|
|
Condor Hospitality Trust Inc.
|
Cresud, “the Company” “us”
|
|
Cresud S.A.C.I.F. y A.
|
Cyrsa
|
|
Cyrsa S.A.
|
DFL
|
|
Dolphin Fund Ltd.
|
DIC
|
|
Discount Investment Corporation Ltd.
|
DN B.V.
|
|
Dolphin Netherlands B.V.
|
Dolphin
|
|
Dolphin Fund Ltd. and Dolphin Netherlands B.V.
|
EHSA
|
|
Entertainment Holdings S.A.
|
ENUSA
|
|
Entretenimiento Universal S.A.
|
Financial
Statements
|
|
Unaudited
Condensed Interim Consolidated Financial Statements
|
Annual
Financial Statements
|
|
Consolidated
Financial Statements as of June 30, 2016
|
ETH
|
|
C.A.A. Extra Holdings Ltd.
|
CPF
|
|
Collective
Promotion Funds
|
IASB
|
|
International
Accounting Standards Board
|
IDB Tourism
|
|
IDB Tourism (2009) Ltd.
|
IDBD
|
|
IDB Development Corporation Ltd.
|
IDBGI
|
|
IDB Group Investment Inc.
|
IFISA
|
|
Inversiones Financieras del Sur S.A.
|
IFRS
|
|
International Financial Reporting Standards
|
MPIT
|
|
Minimum Presumed Income Tax
|
Indarsa
|
|
Inversora Dársena Norte S.A.
|
IRSA
|
|
IRSA Inversiones y Representaciones Sociedad
Anónima
|
IRSA CP
|
|
IRSA Propiedades Comerciales S.A.
|
Koor
|
|
Koor Industries Ltd.
|
Lipstick
|
|
Lipstick Management LLC
|
LRSA
|
|
La Rural S.A.
|
Metropolitan
|
|
Metropolitan 885 Third Avenue Leasehold LLC
|
NASDAQ
|
|
National Association of Securities Dealers Automated
Quotation
|
NFSA
|
|
Nuevas Fronteras S.A.
|
New Lipstick
|
|
New Lipstick LLC
|
IAS
|
|
International
Accounting Standards
|
IFRS
|
|
International Financial Reporting Standard
|
NIS
|
|
New Israeli Shekel
|
NPSF
|
|
Nuevo Puerto Santa Fe S.A.
|
NYSE
|
|
New
York Stock Exchange
|
OASA
|
|
Ogden Argentina S.A.
|
Ombú
|
|
Ombú Agropecuaria S.A.
|
NCN
|
|
Non-convertible Notes
|
PAMSA
|
|
Panamerican Mall S.A.
|
PBC
|
|
Property & Building Corporation Ltd.
|
PBEL
|
|
PBEL Real Estate Ltd.
|
Puerto Retiro
|
|
Puerto Retiro S.A.
|
Quality
|
|
Quality Invest S.A.
|
Shufersal
|
|
Shufersal Ltd.
|
SRA
|
|
Sociedad Rural Argentina
|
Tarshop
|
|
Tarshop S.A.
|
Yuchan
|
|
Yuchán Agropecuaria S.A.
|
Yatay
|
|
Yatay Agropecuaria S.A.
|
|
Note
|
09.30.16
|
|
06.30.16
|
ASSETS
|
|
|
|
|
Non-current assets
|
|
|
|
|
Investment
properties
|
10
|
50,592
|
|
49,766
|
Property,
plant and
equipment
|
11
|
26,373
|
|
26,376
|
Trading
properties
|
12
|
3,531
|
|
4,472
|
Intangible
assets
|
13
|
11,469
|
|
11,814
|
Biological
assets
|
14
|
559
|
|
524
|
Investments
in joint ventures and
associates
|
8,
9
|
5,644
|
|
16,534
|
Deferred
income tax
assets
|
24
|
1,836
|
|
1,655
|
Income
tax
credit
|
|
174
|
|
173
|
Restricted
assets
|
|
127
|
|
128
|
Trade
and other
receivables
|
17
|
3,956
|
|
3,773
|
Financial
assets held for
sale
|
18
|
2,615
|
|
3,346
|
Investment
in financial
assets
|
16
|
2,241
|
|
2,226
|
Derivative
financial
instruments
|
19
|
4
|
|
8
|
Employee
benefits
|
|
4
|
|
4
|
Total non-current
assets
|
|
109,125
|
|
120,799
|
Current assets
|
|
|
|
|
Trading
properties
|
12
|
1,219
|
|
241
|
Biological
assets
|
14
|
261
|
|
541
|
Inventories
|
15
|
3,498
|
|
3,900
|
Restricted
assets
|
|
1,882
|
|
748
|
Income
tax
credit
|
|
401
|
|
541
|
Financial
assets held for
sale
|
18
|
2,178
|
|
1,256
|
Groups
of assets held for
sale
|
34
|
11,506
|
|
-
|
Trade
and other
receivables
|
17
|
14,816
|
|
14,158
|
Investment
in financial
assets
|
16
|
9,810
|
|
9,673
|
Derivative
financial
instruments
|
19
|
46
|
|
53
|
Cash
and cash
equivalents
|
20
|
15,724
|
|
14,096
|
Total current
assets
|
|
61,341
|
|
45,207
|
TOTAL
ASSETS
|
|
170,466
|
|
166,006
|
SHAREHOLDERS’ EQUITY
|
|
|
|
|
Capital and reserves attributable to equity holders of the
parent
|
|
|
|
|
Share
capital
|
|
495
|
|
495
|
Treasury
shares
|
|
7
|
|
7
|
Inflation
adjustment of share capital and treasury
shares
|
|
65
|
|
65
|
Share
premium
|
|
659
|
|
659
|
Additional paid-in
capital from treasury shares
|
|
16
|
|
16
|
Legal
reserve
|
|
83
|
|
83
|
Other
reserves
|
25
|
1,244
|
|
1,086
|
Accumulated
deficit
|
|
(1,872)
|
|
(1,387)
|
Total capital and reserves attributable to equity holders of the
parent
|
|
697
|
|
1,024
|
Non-controlling
interest
|
|
14,889
|
|
14,214
|
TOTAL SHAREHOLDERS’
EQUITY
|
|
15,586
|
|
15,238
|
)
|
)
|
|
|
)
|
|
|
|
|
|
|
|
|
|
Eduardo
S. Elsztain
President
|
|
|
|
|
|
|
Note
|
09.30.16
|
|
06.30.16
|
LIABILITIES
|
|
|
|
|
Non-current liabilities
|
|
|
|
|
Trade
and other
payables
|
21
|
2,442
|
|
1,528
|
Current
income
tax
|
|
29
|
|
-
|
Borrowings
|
23
|
90,334
|
|
93,808
|
Deferred
income tax
liabilities
|
24
|
7,664
|
|
7,662
|
Derivative
financial
instruments
|
19
|
125
|
|
121
|
Payroll
and social security
liabilities
|
|
24
|
|
20
|
Provisions
|
22
|
1,361
|
|
1,341
|
Employee
benefits
|
|
708
|
|
689
|
Total non-current
liabilities
|
|
102,687
|
|
105,169
|
Current liabilities
|
|
|
|
|
Trade
and other
payables
|
21
|
17,263
|
|
18,443
|
Income
tax and minimum presumed income tax liabilities
|
|
426
|
|
624
|
Payroll
and social security
liabilities
|
|
1,831
|
|
1,856
|
Borrowings
|
23
|
20,111
|
|
23,488
|
Derivative
financial
instruments
|
19
|
107
|
|
147
|
Provisions
|
22
|
1,086
|
|
1,041
|
Group
of liabilities held for
sale
|
34
|
11,369
|
|
-
|
Total current
liabilities
|
|
52,193
|
|
45,599
|
TOTAL
LIABILITIES
|
|
154,880
|
|
150,768
|
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES
|
|
170,466
|
|
166,006
|
)
|
)
|
|
|
)
|
|
|
|
|
|
|
|
|
|
Eduardo
S. Elsztain
President
|
|
|
|
|
|
|
Note
|
09.30.16
|
|
09.30.15
|
Revenues
|
26
|
19,750
|
|
1,624
|
Costs
|
27
|
(14,519)
|
|
(1,195)
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
|
382
|
|
206
|
Changes
in the net realizable value of agricultural produce after
harvest
|
|
(98)
|
|
(9)
|
Gross
profit
|
|
5,515
|
|
626
|
Gain
from disposal of investment
properties
|
10
|
19
|
|
384
|
Gain
from disposal of
farmlands
|
|
73
|
|
-
|
General
and administrative
expenses
|
28
|
(1,022)
|
|
(194)
|
Selling
expenses
|
28
|
(3,431)
|
|
(147)
|
Other
operating results,
net
|
29
|
(21)
|
|
11
|
Profit from
operations
|
|
1,133
|
|
680
|
Share
of loss of associates and joint
ventures
|
8,
9
|
(55)
|
|
(497)
|
Profit from operations before financing and
taxation
|
|
1,078
|
|
183
|
Finance
income
|
30
|
411
|
|
87
|
Finance
cost
|
30
|
(2,296)
|
|
(512)
|
Other
financial
results
|
30
|
320
|
|
(22)
|
Financial
results,
net
|
30
|
(1,565)
|
|
(447)
|
Loss before income
tax
|
|
(487)
|
|
(264)
|
Income
tax
|
24
|
(28)
|
|
(92)
|
Loss for the period from continuing
operations
|
|
(515)
|
|
(356)
|
Loss
from discontinued operations after
income
tax
|
35
|
(358)
|
|
-
|
Loss for the
period
|
|
(873)
|
|
(356)
|
|
|
|
|
|
Attributable to:
|
|
|
|
|
Equity
holders of the
parent
|
|
(485)
|
|
(288)
|
Non-controlling
interest
|
|
(388)
|
|
(68)
|
|
|
|
|
|
Loss
per share from continuing operations
attributable to equity holder of the parent during the
period:
|
|
|
|
|
Basic
|
|
(0.74)
|
|
-
|
Diluted
|
|
(i)
(0.74)
|
|
-
|
Loss
per share attributable to equity holders of the parent during the
period:
|
|
|
|
|
Basic
|
|
(0.98)
|
|
(0.58)
|
Diluted
|
|
(i)
(0.98)
|
|
(i) (0.58)
|
)
|
)
|
|
|
)
|
|
|
|
|
|
|
|
|
|
Eduardo
S. Elsztain
President
|
|
|
|
|
|
|
09.30.16
|
|
09.30.15
|
Loss
for the period
|
(873)
|
|
(356)
|
Other comprehensive income / (loss):
|
|
|
|
Items that may be reclassified subsequently to profit or
loss:
|
|
|
|
Currency
translation adjustment
|
924
|
|
(316)
|
Change
in the fair value of hedging instruments net of income
taxes
|
56
|
|
-
|
Items that may not be reclassified subsequently to profit or
loss, net of income tax:
|
|
|
|
Actuarial
loss from defined benefit plans
|
(22)
|
|
-
|
Others
|
(3)
|
|
-
|
Other comprehensive income / (loss) for the period
(i)
|
955
|
|
(316)
|
Total comprehensive income / (loss) for the
period
|
82
|
|
(672)
|
|
|
|
|
Attributable to:
|
|
|
|
Equity
holders of the parent
|
(145)
|
|
(395)
|
Non-controlling
interest
|
227
|
|
(277)
|
|
|
|
|
Attributable
to equity holders of the parent from continuing operations:
|
83
|
|
(395)
|
Attributable
to equity holders of the parent from discontinued operations:
|
(228)
|
|
-
|
Total attributable to equity holders of the
parent
|
(145)
|
|
(395)
|
|
|
|
|
)
|
|
|
|
|
Eduardo
S. Elsztain
President
|
|
Attributable
to equity holders of the parent
|
|
|
|
||||||||
|
Share capital
|
Treasury shares
|
Inflation
adjustment
of
share capital and treasury shares (i)
|
Share premium
|
Additional
paid-in capital from treasury shares
|
Legal
reserve
|
Other
reserves
(Note
25)
|
Accumulated
deficit
|
Subtotal
|
Non-controlling
interest
|
Total
Shareholders’ equity
|
|
Balances
as of June 30,
2016
|
495
|
7
|
65
|
659
|
16
|
83
|
1,086
|
(1,390)
|
1,021
|
14,211
|
15,232
|
|
Adjustment due to
change to accounting standards (ii)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
3
|
3
|
3
|
6
|
|
Adjusted
balances as of June 30, 2016
|
495
|
7
|
65
|
659
|
16
|
83
|
1,086
|
(1,387)
|
1,024
|
14,214
|
15,238
|
|
Loss for the
period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(485)
|
(485)
|
(388)
|
(873)
|
|
Other comprehensive
income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
340
|
-
|
340
|
615
|
955
|
|
Total
comprehensive income / (loss) for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
340
|
(485)
|
(145)
|
227
|
82
|
|
Incorporation
for business combination (Note 4)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
19
|
19
|
|
Reserve
for share-based compensation
|
-
|
-
|
-
|
-
|
-
|
-
|
3
|
-
|
3
|
23
|
26
|
|
Equity
incentive plan
granted
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
|
|
Changes
in non-controlling
interest
|
-
|
-
|
-
|
-
|
-
|
-
|
(185)
|
-
|
(185)
|
413
|
228
|
|
Cash
dividends
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(6)
|
(6)
|
|
Capital
reduction
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(1)
|
(1)
|
|
Balances as of September 30,
2016
|
495
|
7
|
65
|
659
|
16
|
83
|
1,244
|
(1,872)
|
697
|
14,889
|
15,586
|
|
|
|
|
)
|
|
|
|
|
Eduardo
S. Elsztain
President
|
|
Attributable
to equity holders of the parent
|
|
|
|||||||
|
Share capital
|
Treasury shares
|
Inflation
adjustment
of
share capital and treasury shares (i)
|
Share
premium
|
Additional
paid-in capital from treasury shares
|
Other
reserves
(Note
25)
|
Retaining
earnings
|
Subtotal
|
Non-controlling
interest
|
Total
Shareholders’ equity
|
Balances
as of June 30,
2015
|
495
|
7
|
65
|
659
|
13
|
599
|
118
|
1,956
|
2,559
|
4,515
|
Adjustment due to
change to accounting standards (ii)
|
-
|
-
|
-
|
-
|
-
|
(1)
|
5
|
4
|
7
|
11
|
Adjusted
balances as of June 30, 2015
|
495
|
7
|
65
|
659
|
13
|
598
|
123
|
1,960
|
2,566
|
4,526
|
Loss for the
period
|
-
|
-
|
-
|
-
|
-
|
-
|
(288)
|
(288)
|
(68)
|
(356)
|
Other comprehensive
loss for the period
|
-
|
-
|
-
|
-
|
-
|
(107)
|
-
|
(107)
|
(209)
|
(316)
|
Total
comprehensive loss for the period
|
-
|
-
|
-
|
-
|
-
|
(107)
|
(288)
|
(395)
|
(277)
|
(672)
|
Reserve
for share-based compensation
|
-
|
-
|
-
|
-
|
-
|
5
|
-
|
5
|
2
|
7
|
Equity
incentive plan
granted
|
-
|
-
|
-
|
-
|
2
|
(3)
|
1
|
-
|
-
|
-
|
Cash
dividends
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(4)
|
(4)
|
Changes in
non-controlling
interest
|
-
|
-
|
-
|
-
|
-
|
(5)
|
-
|
(5)
|
(20)
|
(25)
|
Balances as of September 30, 2015
|
495
|
7
|
65
|
659
|
15
|
488
|
(164)
|
1,565
|
2,267
|
3,832
|
|
|
|
|
)
|
|
|
|
|
Eduardo
S. Elsztain
President
|
|
Note
|
09.30.16
|
|
09.30.15
|
Operating
activities:
|
|
|
|
|
Cash generated from
operations
|
20
|
2,609
|
|
413
|
Income tax
paid
|
|
(197)
|
|
(67)
|
Net
cash generated from operating
activities
|
|
2,412
|
|
346
|
Investing
activities:
|
|
|
|
|
Payment for
subsidiary acquired, net of cash
acquired
|
|
(30)
|
|
-
|
Capital
contributions to joint ventures and
associates
|
|
(312)
|
|
(34)
|
Cash included in
the group of assets classified as held for sale
|
|
(12)
|
|
-
|
Acquisition of
investment
properties
|
|
(657)
|
|
(47)
|
Proceeds from sale
of investment
properties
|
|
41
|
|
388
|
Acquisition
of property, plant and equipment
|
|
(692)
|
|
(19)
|
Proceeds
from sale of property, plant and equipment
|
|
212
|
|
2
|
Payments
for purchase of farmlands
|
|
-
|
|
(78)
|
Proceeds
from sale of farmlands
|
|
71
|
|
14
|
Acquisition of
intangible
assets
|
|
(107)
|
|
(1)
|
Acquisition of
investments in financial
instruments
|
|
(2,423)
|
|
(1,316)
|
Proceeds from
disposals of investments in financial instruments
|
|
2,766
|
|
1,056
|
Loans granted to
associates and joint
ventures
|
|
(22)
|
|
-
|
Dividends
received
|
|
27
|
|
-
|
Loans
granted
|
|
(34)
|
|
-
|
Loans repayment
received from associates and joint
ventures
|
|
10
|
|
1
|
Net
cash used in investing
activities
|
|
(1,162)
|
|
(34)
|
Financing
activities:
|
|
|
|
|
Repurchase
of non-convertible notes
|
|
(144)
|
|
(121)
|
Proceeds from
issuance of non-convertible
notes
|
|
8,790
|
|
793
|
Repayment of
non-convertible
notes
|
|
(4,144)
|
|
(154)
|
Borrowings
|
|
803
|
|
537
|
Repayment of
borrowings
|
|
(3,357)
|
|
(547)
|
Borrowings from
joint ventures and
associates
|
|
4
|
|
1
|
Repayment of
borrowings from joint ventures and
associates
|
|
(2)
|
|
-
|
Payment of seller
financing
|
|
-
|
|
(1)
|
Acquisition of
non-controlling interest in
subsidiaries
|
|
(580)
|
|
(25)
|
Sale of equity
interest in subsidiaries to non-controlling interest
|
|
810
|
|
-
|
Dividends
paid
|
|
(366)
|
|
(48)
|
Proceeds from
derivative financial
instruments
|
|
27
|
|
-
|
Payment of
derivative financial
instruments
|
|
(4)
|
|
(27)
|
Interest
paid
|
|
(1,518)
|
|
(285)
|
Net
cash generated from financing
activities
|
|
319
|
|
123
|
Net
increase in cash and cash
equivalents
|
|
1,569
|
|
435
|
Cash and cash
equivalents at beginning of
period
|
20
|
14,096
|
|
634
|
Foreign exchange
gain (loss) on cash and cash
equivalents
|
|
59
|
|
(37)
|
Cash
and cash equivalents at end of
period
|
|
15,724
|
|
1,032
|
|
|
|
|
)
|
|
|
|
|
Eduardo
S. Elsztain
President
|
Statement of Income (summary)
|
|
September
30,
2015
(Published)
|
|
Increase
/
(Decrease)
|
|
September
30,
2015
(Adjusted)
|
Costs
|
|
(1,194)
|
|
(1)
|
|
(1,195)
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
|
197
|
|
9
|
|
206
|
Income
tax
|
|
(89)
|
|
(3)
|
|
(92)
|
Loss
for the year
|
|
(362)
|
|
6
|
|
(356)
|
Attributable
to:
|
|
|
|
|
|
|
Equity
holders of the parent
|
|
(291)
|
|
3
|
|
(288)
|
Non-controlling
interest
|
|
(71)
|
|
3
|
|
(68)
|
Statement of comprehensive income
|
|
September
30,
2015
(Published)
|
|
Increase
/
(Decrease)
|
|
September
30,
2015
(Adjusted)
|
Loss
for the year
|
|
(362)
|
|
6
|
|
(356)
|
Other
comprehensive loss for the period
|
|
(320)
|
|
4
|
|
(316)
|
Total
comprehensive loss for the period
|
|
(682)
|
|
10
|
|
(672)
|
Attributable
to:
|
|
|
|
|
|
|
Equity
holders of the parent
|
|
(405)
|
|
10
|
|
(395)
|
Non-controlling
interest
|
|
(277)
|
|
-
|
|
(277)
|
Statements of financial position (summary)
|
|
June 30,
2016
(Published)
|
|
Increase / (Decrease)
|
|
June 30,
2016
(Adjusted)
|
Biological
assets
|
|
1,132
|
|
(67)
|
|
1,065
|
Property, plant and
equipment
|
|
26,300
|
|
76
|
|
26,376
|
Deferred income tax
assets
|
|
1,658
|
|
(3)
|
|
1,655
|
Total
Assets
|
|
166,000
|
|
6
|
|
166,006
|
Retained
earnings
|
|
(1,390)
|
|
3
|
|
(1,387)
|
Cumulative
translation
adjustment
|
|
806
|
|
-
|
|
806
|
Non-controlling
interest
|
|
14,211
|
|
3
|
|
14,214
|
Total
Shareholders’
Equity
|
|
15,232
|
|
6
|
|
15,238
|
|
Agricultural
business
(I)
|
|
Urban
properties and investments business
(II)
|
|
Total
|
||||
|
|
Operations Center in Argentina
|
|
Operations Center in
Israel
|
|
Subtotal
|
|
||
Revenues
|
1,120
|
|
957
|
|
17,399
|
|
18,356
|
|
19,476
|
Costs
|
(1,311)
|
|
(247)
|
|
(12,676)
|
|
(12,923)
|
|
(14,234)
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
384
|
|
-
|
|
-
|
|
-
|
|
384
|
Changes
in the net realizable value of agricultural produce after
harvest
|
(98)
|
|
-
|
|
-
|
|
-
|
|
(98)
|
Gross profit
|
95
|
|
710
|
|
4,723
|
|
5,433
|
|
5,528
|
Gain
from disposal of investment properties
|
-
|
|
-
|
|
19
|
|
19
|
|
19
|
Gain
from disposal of farmlands
|
73
|
|
-
|
|
-
|
|
-
|
|
73
|
General
and administrative expenses
|
(90)
|
|
(152)
|
|
(784)
|
|
(936)
|
|
(1,026)
|
Selling
expenses
|
(136)
|
|
(87)
|
|
(3,210)
|
|
(3,297)
|
|
(3,433)
|
Other
operating results, net
|
40
|
|
(12)
|
|
(49)
|
|
(61)
|
|
(21)
|
(Loss) / Profit from operations
|
(18)
|
|
459
|
|
699
|
|
1,158
|
|
1,140
|
Share
of (loss) / profit of associates and joint
ventures
|
(8)
|
|
37
|
|
75
|
|
112
|
|
104
|
Segment (loss) / profit
|
(26)
|
|
496
|
|
774
|
|
1,270
|
|
1,244
|
|
|
|
|
|
|
|
|
|
|
Investment
properties
|
3
|
|
3,358
|
|
-
|
|
3,358
|
|
3,361
|
Property,
plant and equipment
|
3,142
|
|
244
|
|
-
|
|
244
|
|
3,386
|
Trading
properties
|
-
|
|
271
|
|
-
|
|
271
|
|
271
|
Goodwill
|
13
|
|
25
|
|
-
|
|
25
|
|
38
|
Rights
to receive future units under barter agreements
|
-
|
|
90
|
|
-
|
|
90
|
|
90
|
Biological
assets
|
826
|
|
-
|
|
-
|
|
-
|
|
826
|
Inventories
|
756
|
|
31
|
|
-
|
|
31
|
|
787
|
Interests
in associates and joint ventures
|
43
|
|
966
|
|
-
|
|
966
|
|
1,009
|
Operating
assets from Operations Center in Israel
|
-
|
|
-
|
|
144,262
|
|
144,262
|
|
144,262
|
Total segment assets
|
4,783
|
|
4,985
|
|
144,262
|
|
149,247
|
|
154,030
|
|
|
|
|
|
|
|
|
|
|
Operating
liabilities from Operations Center in Israel
|
-
|
|
-
|
|
129,806
|
|
129,806
|
|
129,806
|
|
Agricultural
business
(I)
|
|
Urban
properties and investments business
(II)
|
|
Total
|
|
|
|
Operations Center in Argentina
|
|
|
Revenues
|
681
|
|
721
|
|
1,402
|
Costs
|
(782)
|
|
(180)
|
|
(962)
|
Initial recognition
and changes in the fair value of biological assets and agricultural
produce at the point of harvest
|
206
|
|
-
|
|
206
|
Changes in the net
realizable value of agricultural produce after harvest
|
(9)
|
|
-
|
|
(9)
|
Gross
profit
|
96
|
|
541
|
|
637
|
Gain from disposal
of investment properties
|
-
|
|
384
|
|
384
|
General and
administrative expenses
|
(64)
|
|
(132)
|
|
(196)
|
Selling
expenses
|
(92)
|
|
(56)
|
|
(148)
|
Other operating
results, net
|
24
|
|
(14)
|
|
10
|
(Loss)
/ Profit from operations
|
(36)
|
|
723
|
|
687
|
Share of loss of
associates and joint ventures
|
(1)
|
|
(493)
|
|
(494)
|
Segment
(loss) / profit
|
(37)
|
|
230
|
|
193
|
|
|
|
|
|
|
Investment
properties
|
66
|
|
3,499
|
|
3,565
|
Property, plant and
equipment
|
1,990
|
|
256
|
|
2,246
|
Trading
properties
|
-
|
|
130
|
|
130
|
Goodwill
|
7
|
|
25
|
|
32
|
Rights to receive
future units under barter agreements
|
-
|
|
90
|
|
90
|
Biological
assets
|
518
|
|
-
|
|
518
|
Inventories
|
455
|
|
23
|
|
478
|
Interests in
associates and joint ventures
|
30
|
|
2,601
|
|
2,631
|
Total
segment assets
|
3,066
|
|
6,624
|
|
9,690
|
|
September
30, 2016
|
||||||
|
Agricultural
production
|
|
Land
transformation
and
sales
|
|
Others
|
|
Total
Agricultural
business
|
Revenues
|
630
|
|
-
|
|
490
|
|
1,120
|
Costs
|
(916)
|
|
(3)
|
|
(392)
|
|
(1,311)
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
384
|
|
-
|
|
-
|
|
384
|
Changes
in the net realizable value of agricultural produce after
harvest
|
(98)
|
|
-
|
|
-
|
|
(98)
|
Gross (loss) / profit
|
-
|
|
(3)
|
|
98
|
|
95
|
Gain
from disposal of farmlands
|
-
|
|
73
|
|
-
|
|
73
|
General
and administrative expenses
|
(73)
|
|
-
|
|
(17)
|
|
(90)
|
Selling
expenses
|
(102)
|
|
(2)
|
|
(32)
|
|
(136)
|
Other
operating results, net
|
40
|
|
-
|
|
-
|
|
40
|
(Loss) / Profit from operations
|
(135)
|
|
68
|
|
49
|
|
(18)
|
Share
of loss of associates
|
(5)
|
|
-
|
|
(3)
|
|
(8)
|
Segment (loss) / profit
|
(140)
|
|
68
|
|
46
|
|
(26)
|
|
|
|
|
|
|
|
|
Investment
properties
|
-
|
|
-
|
|
3
|
|
3
|
Property,
plant and equipment
|
3,065
|
|
13
|
|
64
|
|
3,142
|
Goodwill
|
13
|
|
-
|
|
-
|
|
13
|
Biological
assets
|
826
|
|
-
|
|
-
|
|
826
|
Inventories
|
543
|
|
-
|
|
213
|
|
756
|
Investments
in associates
|
43
|
|
-
|
|
-
|
|
43
|
Total segment assets
|
4,490
|
|
13
|
|
280
|
|
4,783
|
|
September
30, 2015
|
||||||
|
Agricultural
production
|
|
Land
transformation
and
sales
|
|
Others
|
|
Total
Agricultural
business
|
Revenues
|
448
|
|
-
|
|
233
|
|
681
|
Costs
|
(567)
|
|
(2)
|
|
(213)
|
|
(782)
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
206
|
|
-
|
|
-
|
|
206
|
Changes
in the net realizable value of agricultural produce after
harvest
|
(9)
|
|
-
|
|
-
|
|
(9)
|
Gross profit / (loss)
|
78
|
|
(2)
|
|
20
|
|
96
|
General
and administrative expenses
|
(54)
|
|
-
|
|
(10)
|
|
(64)
|
Selling
expenses
|
(73)
|
|
-
|
|
(19)
|
|
(92)
|
Other
operating results, net
|
23
|
|
-
|
|
1
|
|
24
|
Loss from Operations
|
(26)
|
|
(2)
|
|
(8)
|
|
(36)
|
Share
of loss of associates
|
-
|
|
-
|
|
(1)
|
|
(1)
|
Segment loss
|
(26)
|
|
(2)
|
|
(9)
|
|
(37)
|
|
|
|
|
|
|
|
|
Investment
properties
|
2
|
|
-
|
|
64
|
|
66
|
Property,
plant and equipment
|
1,938
|
|
13
|
|
39
|
|
1,990
|
Goodwill
|
6
|
|
-
|
|
1
|
|
7
|
Biological
assets
|
517
|
|
-
|
|
1
|
|
518
|
Inventories
|
322
|
|
-
|
|
133
|
|
455
|
Investments
in associates
|
30
|
|
-
|
|
-
|
|
30
|
Total segment assets
|
2,815
|
|
13
|
|
238
|
|
3,066
|
|
September
30, 2016
|
||||||||||||
|
Shopping
Center
|
|
Offices
and others
|
|
Sales
and developments
|
|
Hotels
|
|
International
|
|
Financial
operations
and
others
|
|
Total
|
Revenues
|
682
|
|
101
|
|
1
|
|
173
|
|
-
|
|
-
|
|
957
|
Costs
|
(114)
|
|
(14)
|
|
(5)
|
|
(114)
|
|
-
|
|
-
|
|
(247)
|
Gross profit / (loss)
|
568
|
|
87
|
|
(4)
|
|
59
|
|
-
|
|
-
|
|
710
|
General
and administrative expenses
|
(49)
|
|
(13)
|
|
(37)
|
|
(31)
|
|
(22)
|
|
-
|
|
(152)
|
Selling
expenses
|
(42)
|
|
(16)
|
|
(7)
|
|
(22)
|
|
-
|
|
-
|
|
(87)
|
Other
operating results, net
|
(9)
|
|
5
|
|
(3)
|
|
-
|
|
(4)
|
|
(1)
|
|
(12)
|
Profit / (Loss) from operations
|
468
|
|
63
|
|
(51)
|
|
6
|
|
(26)
|
|
(1)
|
|
459
|
Share
of profit / (loss) of associates and joint ventures
|
-
|
|
12
|
|
7
|
|
-
|
|
(35)
|
|
53
|
|
37
|
Segment profit / (loss)
|
468
|
|
75
|
|
(44)
|
|
6
|
|
(61)
|
|
52
|
|
496
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment
properties
|
2,224
|
|
905
|
|
223
|
|
-
|
|
-
|
|
6
|
|
3,358
|
Property,
plant and equipment
|
50
|
|
25
|
|
2
|
|
165
|
|
2
|
|
-
|
|
244
|
Trading
properties
|
1
|
|
-
|
|
270
|
|
-
|
|
-
|
|
-
|
|
271
|
Goodwill
|
14
|
|
6
|
|
5
|
|
-
|
|
-
|
|
-
|
|
25
|
Rights
to receive future units under barter agreements
|
-
|
|
-
|
|
90
|
|
-
|
|
-
|
|
-
|
|
90
|
Inventories
|
21
|
|
-
|
|
1
|
|
9
|
|
-
|
|
-
|
|
31
|
Investment
in associates and joint ventures
|
-
|
|
-
|
|
69
|
|
-
|
|
(883)
|
|
1,780
|
|
966
|
Total segment assets
|
2,310
|
|
936
|
|
660
|
|
174
|
|
(881)
|
|
1,786
|
|
4,985
|
|
September
30, 2015
|
||||||||||||
|
Shopping
Center
|
|
Offices
and others
|
|
Sales
and developments
|
|
Hotels
|
|
International
|
|
Financial
operations
and
others
|
|
Total
|
Revenues
|
533
|
|
75
|
|
2
|
|
111
|
|
-
|
|
-
|
|
721
|
Costs
|
(79)
|
|
(14)
|
|
(5)
|
|
(82)
|
|
-
|
|
-
|
|
(180)
|
Gross profit / (loss)
|
454
|
|
61
|
|
(3)
|
|
29
|
|
-
|
|
-
|
|
541
|
Gain
from disposal of investment properties
|
-
|
|
-
|
|
384
|
|
-
|
|
-
|
|
-
|
|
384
|
General
and administrative expenses
|
(37)
|
|
(12)
|
|
(28)
|
|
(22)
|
|
(33)
|
|
-
|
|
(132)
|
Selling
expenses
|
(32)
|
|
(5)
|
|
(5)
|
|
(14)
|
|
-
|
|
-
|
|
(56)
|
Other
operating results, net
|
(7)
|
|
(1)
|
|
(4)
|
|
-
|
|
(1)
|
|
(1)
|
|
(14)
|
Profit / (Loss) from operations
|
378
|
|
43
|
|
344
|
|
(7)
|
|
(34)
|
|
(1)
|
|
723
|
Share
of (loss) / profit of associates and joint ventures
|
-
|
|
(1)
|
|
3
|
|
-
|
|
(563)
|
|
68
|
|
(493)
|
Segment profit / (loss)
|
378
|
|
42
|
|
347
|
|
(7)
|
|
(597)
|
|
67
|
|
230
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment
properties
|
2,353
|
|
955
|
|
184
|
|
-
|
|
-
|
|
7
|
|
3,499
|
Property,
plant and equipment
|
49
|
|
31
|
|
1
|
|
174
|
|
1
|
|
-
|
|
256
|
Trading
properties
|
1
|
|
-
|
|
129
|
|
-
|
|
-
|
|
-
|
|
130
|
Goodwill
|
14
|
|
6
|
|
5
|
|
-
|
|
-
|
|
-
|
|
25
|
Rights
to receive future units under barter agreements
|
-
|
|
-
|
|
90
|
|
-
|
|
-
|
|
-
|
|
90
|
Inventories
|
16
|
|
-
|
|
-
|
|
7
|
|
-
|
|
-
|
|
23
|
Interests
in associates and joint ventures
|
-
|
|
19
|
|
60
|
|
-
|
|
1,039
|
|
1,483
|
|
2,601
|
Total segment assets
|
2,433
|
|
1,011
|
|
469
|
|
181
|
|
1,040
|
|
1,490
|
|
6,624
|
|
September
30, 2016
|
||||||||||||
|
Real
Estate
|
|
Supermarkets
|
|
Agrochemicals
|
|
Telecommunications
|
|
Insurance
|
|
Others
|
|
Total
|
Revenues
|
1,049
|
|
11,535
|
|
-
|
|
3,901
|
|
-
|
|
914
|
|
17,399
|
Costs
|
(612)
|
|
(8,615)
|
|
-
|
|
(2,608)
|
|
-
|
|
(841)
|
|
(12,676)
|
Gross
profit
|
437
|
|
2,920
|
|
-
|
|
1,293
|
|
-
|
|
73
|
|
4,723
|
Gain
from disposal of investment properties
|
|
|
|
|
|
|
|
|
|
|
19
|
|
19
|
General
and administrative expenses
|
(63)
|
|
(149)
|
|
-
|
|
(388)
|
|
-
|
|
(184)
|
|
(784)
|
Selling
expenses
|
(19)
|
|
(2,307)
|
|
-
|
|
(818)
|
|
-
|
|
(66)
|
|
(3,210)
|
Other
operating results,
net
|
-
|
|
(15)
|
|
-
|
|
(7)
|
|
-
|
|
(27)
|
|
(49)
|
Profit
/ (Loss) from operations
|
355
|
|
449
|
|
-
|
|
80
|
|
-
|
|
(185)
|
|
699
|
Share
of (loss) / profit of associates and joint ventures
|
(63)
|
|
-
|
|
157
|
|
-
|
|
-
|
|
(19)
|
|
75
|
Segment
profit /
(loss)
|
292
|
|
449
|
|
157
|
|
80
|
|
-
|
|
(204)
|
|
774
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
assets
|
58,565
|
|
29,057
|
|
11,240
|
|
28,982
|
|
4,792
|
|
15,645
|
|
148,281
|
Operating
liabilities
|
(48,115)
|
|
(23,021)
|
|
(11,272)
|
|
(23,228)
|
|
-
|
|
(28,609)
|
|
(134,245)
|
|
10,450
|
|
6,036
|
|
(32)
|
|
5,754
|
|
4,792
|
|
(12,964)
|
|
14,036
|
|
September
30, 2016
|
||||||||||
|
Total
segment
information
|
|
Adjustment
for share of profit / (loss)
of
joint ventures
|
|
Expenses
and
collective promotion
funds
|
|
Adjustment
to
income
for elimination of
inter-segment
transactions
|
|
Discontinued
operations
|
|
Total
statement
of income
|
Revenues
|
19,476
|
|
(20)
|
|
341
|
|
(47)
|
|
-
|
|
19,750
|
Costs
|
(14,234)
|
|
19
|
|
(348)
|
|
44
|
|
-
|
|
(14,519)
|
Initial recognition
and changes in the fair value of biological assets and agricultural
produce at the point of harvest
|
384
|
|
(2)
|
|
-
|
|
-
|
|
-
|
|
382
|
Changes in the net
realizable value of agricultural produce after harvest
|
(98)
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(98)
|
Gross
profit /
(loss)
|
5,528
|
|
(3)
|
|
(7)
|
|
(3)
|
|
-
|
|
5,515
|
Gain from disposal
of investment properties
|
19
|
|
-
|
|
-
|
|
-
|
|
-
|
|
19
|
Gain from disposal
of
farmlands
|
73
|
|
-
|
|
-
|
|
-
|
|
-
|
|
73
|
General and
administrative
expenses
|
(1,026)
|
|
2
|
|
-
|
|
2
|
|
-
|
|
(1,022)
|
Selling
expenses
|
(3,433)
|
|
2
|
|
-
|
|
-
|
|
-
|
|
(3,431)
|
Other operating
results,
net
|
(21)
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(21)
|
Profit
/ (Loss) from operations before share of profit / (loss) of
associates and joint ventures
|
1,140
|
|
1
|
|
(7)
|
|
(1)
|
|
-
|
|
1,133
|
Share of profit /
(loss) of associates and joint ventures
|
104
|
|
(2)
|
|
-
|
|
-
|
|
(157)
|
|
(55)
|
Profit
/ (Loss) from operations before financing and
taxation
|
1,244
|
|
(1)
|
|
(7)
|
|
(1)
|
|
(157)
|
|
1,078
|
|
September
30, 2015
|
||||||||
|
Total
segment information
|
|
Adjustment
for share of profit / (loss) of joint ventures
|
|
Expenses
and collective promotion funds
|
|
Adjustment
to
income
for
elimination
of
inter-segment
transactions
|
|
Total
statements
of income
|
Revenues
|
1,402
|
|
(11)
|
|
255
|
|
(22)
|
|
1,624
|
Costs
|
(962)
|
|
11
|
|
(259)
|
|
15
|
|
(1,195)
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
206
|
|
(4)
|
|
-
|
|
4
|
|
206
|
Changes
in the net realizable value of agricultural produce after
harvest
|
(9)
|
|
-
|
|
-
|
|
-
|
|
(9)
|
Gross profit /
(loss)
|
637
|
|
(4)
|
|
(4)
|
|
(3)
|
|
626
|
Gain
from disposal of investment properties
|
384
|
|
-
|
|
-
|
|
-
|
|
384
|
General
and administrative
expenses
|
(196)
|
|
1
|
|
-
|
|
1
|
|
(194)
|
Selling
expenses
|
(148)
|
|
1
|
|
-
|
|
-
|
|
(147)
|
Other
operating results,
net
|
10
|
|
1
|
|
-
|
|
-
|
|
11
|
Profit / (Loss) from operations before share of profit / (loss) of
associates and joint ventures
|
687
|
|
(1)
|
|
(4)
|
|
(2)
|
|
680
|
Share
of loss of associates and joint ventures
|
(494)
|
|
(3)
|
|
-
|
|
-
|
|
(497)
|
Profit / (Loss) from operations before financing and
taxation
|
193
|
|
(4)
|
|
(4)
|
|
(2)
|
|
183
|
|
September 30, 2016
|
|
September 30, 2015
|
||||||||||
|
Agricultural
business
|
|
Urban properties and
investments business
|
|
Total
|
|
Agricultural
business
|
|
Urban properties and investments business
|
|
Total
|
||
|
|
|
Operations Center in Argentina
|
Operations Center in
Israel
|
Subtotal
|
|
|
|
|
|
Operations
Center
in Argentina
|
|
|
Total Assets per
segment
|
4,783
|
|
4,985
|
148,281
|
153,266
|
|
158,049
|
|
3,066
|
|
6,624
|
|
9,690
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proportionate
share in reportable assets per segment of joint ventures
(*)
|
(598)
|
|
(28)
|
-
|
(28)
|
|
(626)
|
|
(400)
|
|
(132)
|
|
(532)
|
Measurement
adjustments at fair value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Plus:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments
in joint ventures (**)
|
277
|
|
187
|
-
|
187
|
|
464
|
|
185
|
|
183
|
|
368
|
Other
non-reportable
assets
|
3,690
|
|
8,889
|
-
|
8,889
|
|
12,579
|
|
2,562
|
|
3,671
|
|
6,233
|
Total Consolidated assets as per Statement of financial
position
|
8,152
|
|
14,033
|
148,281
|
162,314
|
|
170,466
|
|
5,413
|
|
10,346
|
|
15,759
|
|
September 30, 2016
|
|
September 30, 2015
|
||||||||||
|
Agricultural
business
|
|
Urban properties
and investments business
|
|
Total
|
|
Agricultural
business
|
|
Urban properties and investments business
|
|
Total
|
||
|
|
|
Operations Center in Argentina
|
Operations
Center
in Israel
|
Subtotal
|
|
|
|
|
|
Operations
Center in
Argentina
|
|
|
Investment
properties
|
3
|
|
114
|
-
|
114
|
|
117
|
|
2
|
|
127
|
|
129
|
Property,
plant and equipment
|
583
|
|
(5)
|
-
|
(5)
|
|
578
|
|
379
|
|
(3)
|
|
376
|
Trading
properties
|
-
|
|
1
|
-
|
1
|
|
1
|
|
-
|
|
2
|
|
2
|
Goodwill
|
-
|
|
(82)
|
-
|
(82)
|
|
(82)
|
|
-
|
|
6
|
|
6
|
Biological
assets
|
6
|
|
-
|
-
|
-
|
|
6
|
|
9
|
|
-
|
|
9
|
Inventories
|
6
|
|
-
|
-
|
-
|
|
6
|
|
10
|
|
-
|
|
10
|
Total proportionate share in assets per segment of joint
ventures
|
598
|
|
28
|
-
|
28
|
|
626
|
|
400
|
|
132
|
|
532
|
|
September 30, 2016
|
|
September 30, 2015
|
||||||||||
|
Agricultural
business
|
|
Urban properties
and investments business
|
|
Total
|
|
Agricultural
business
|
|
Urban properties and investments business
|
|
Total
|
||
|
|
|
Operations Center in Argentina
|
Operations
Center
in Israel
|
Subtotal
|
|
|
|
|
|
Operations
Center in
Argentina
|
|
|
Total Liabilities per segment
|
-
|
|
-
|
134,245
|
134,245
|
|
134,245
|
|
-
|
|
-
|
|
-
|
Plus:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
corresponding to agricultural business and urban properties and
investment business of the operations center in
Argentina
|
5,675
|
|
14,960
|
-
|
14,960
|
|
20,635
|
|
4,055
|
|
7,873
|
|
11,928
|
Total Consolidated liabilities as per Statement of financial
position
|
5,675
|
|
14,960
|
134,245
|
149,205
|
|
154,880
|
|
4,055
|
|
7,873
|
|
11,928
|
|
As of September 30, 2016
|
|
Period ended September 30, 2016
|
||||||||||||||||||||||||||||||||
|
Non-controlling shareholders’ interest
%
|
|
Current assets
|
|
Non-current assets
|
|
Current liabilities
|
|
Non-
current
liabilities
|
|
Net assets
|
|
Book value of non-controlling shareholders
|
|
Revenues
|
|
Net
income
/ (loss)
|
|
Other comprehensive income / (loss)
|
|
Total
comprehensive
income / (loss)
|
|
Profit (loss) attributable to non-controlling
shareholders
|
|
Other comprehensive income (loss)
attributable to
non-controlling shareholders
|
|
Cash
of
operating activities
|
|
Cash
of investment activities
|
|
Cash
of
financial activities
|
|
Net increase / (decrease) in cash and cash equivalents
|
|
Dividends distributed to non-controlling shareholders
|
Elron
(1)
|
49.68%
|
|
2,028
|
|
1,020
|
|
70
|
|
31
|
|
2,947
|
|
2,090
|
|
-
|
|
(67)
|
|
60
|
|
(7)
|
|
(45)
|
|
(38)
|
|
(52)
|
|
(108)
|
|
-
|
|
(160)
|
|
-
|
PBC
(1)
|
23.55%
|
|
10,649
|
|
47,916
|
|
8,582
|
|
39,532
|
|
10,451
|
|
7,578
|
|
1,049
|
|
(235)
|
|
198
|
|
(37)
|
|
(49)
|
|
12
|
|
485
|
|
105
|
|
(56)
|
|
534
|
|
-
|
Cellcom
(1)
|
58.23%
|
|
10,618
|
|
15,678
|
|
8,504
|
|
13,163
|
|
4,629
|
|
3,137
|
|
3,841
|
|
(26)
|
|
7
|
|
(19)
|
|
(11)
|
|
(9)
|
|
762
|
|
(384)
|
|
747
|
|
1125
|
|
-
|
Shufersal
(1)
|
4.71%
|
|
9,547
|
|
18,764
|
|
12,603
|
|
10,419
|
|
5,289
|
|
3,157
|
|
11,467
|
|
205
|
|
(11)
|
|
194
|
|
127
|
|
67
|
|
937
|
|
(384)
|
|
(399)
|
|
154
|
|
-
|
Brasilagro
|
57.56%
|
|
1,210
|
|
2,542
|
|
522
|
|
188
|
|
3,042
|
|
1,644
|
|
171
|
|
13
|
|
486
|
|
499
|
|
6
|
|
280
|
|
-
|
|
3
|
|
(11)
|
|
(8)
|
|
-
|
IRSA
|
36.62%
|
|
58,645
|
|
104,099
|
|
50,329
|
|
98,928
|
|
13,487
|
|
13,022
|
|
18,687
|
|
(782)
|
|
495
|
|
(287)
|
|
(205)
|
|
283
|
|
2,575
|
|
(1,252)
|
|
238
|
|
1,561
|
|
-
|
|
As of June 30, 2016
|
|
Period ended September 30, 2015
|
||||||||||||||||||||||||||||||||
|
Non-controlling shareholders’ interest
%
|
|
Current assets
|
|
Non-current
assets
|
|
Current liabilities
|
|
Non-
current
liabilities
|
|
Net assets
|
|
Book value of non-controlling shareholders
|
|
Revenues
|
|
Net
income
/ (loss)
|
|
Other comprehensive income / (loss)
|
|
Total
comprehensive
income / (loss)
|
|
Profit (loss) attributable to non-controlling
shareholders
|
|
Other comprehensive
Income (loss) attributable to
non-controlling shareholders
|
|
Cash
of
operating activities
|
|
Cash
of investment activities
|
|
Cash of financial activities
|
|
Net increase / (decrease) in cash and cash equivalents
|
|
Dividends distributed to non-controlling shareholders
|
Elron
(1)
|
49.68%
|
|
2,145
|
|
922
|
|
82
|
|
31
|
|
2,954
|
|
2,522
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
PBC
(1)
|
23.55%
|
|
10,435
|
|
47,546
|
|
9,925
|
|
37,567
|
|
10,489
|
|
8,419
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Cellcom
(1)
|
58.23%
|
|
9,368
|
|
16,113
|
|
7,629
|
|
13,210
|
|
4,642
|
|
3,795
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Shufersal
(1)
|
47.05%
|
|
9,929
|
|
18,764
|
|
13,202
|
|
10,411
|
|
5,080
|
|
3,596
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Brasilagro
|
57.82%
|
|
980
|
|
2,183
|
|
415
|
|
205
|
|
2,543
|
|
1,097
|
|
162
|
|
121
|
|
(364)
|
|
(243)
|
|
71
|
|
(210)
|
|
9
|
|
330
|
|
(211)
|
|
128
|
|
-
|
IRSA
|
36.62%
|
|
42,763
|
|
116,237
|
|
43,600
|
|
101,899
|
|
13,501
|
|
12,386
|
|
968
|
|
(316)
|
|
36
|
|
(280)
|
|
(618)
|
|
4,018
|
|
374
|
|
(281)
|
|
213
|
|
306
|
|
(615)
|
|
September 30,
2016
|
|
June 30,
2016
|
Beginning of the period / year
|
2,186
|
|
378
|
Decrease
for the control obtainment
|
(31)
|
|
-
|
Capital
contribution
|
5
|
|
77
|
Balance
incorporated by business combination (Note 4)
|
(4)
|
|
960
|
Share
of (loss) / profit
|
(28)
|
|
143
|
Currency
translation adjustment
|
48
|
|
645
|
Cash
dividends (i)
|
(11)
|
|
(17)
|
End of the period / year
|
2,165
|
|
2,186
|
Name of the entity
|
Place of
business /
Country of incorporation
|
Main
activity
|
Common shares 1 vote
|
Value of Group's interest in
equity
|
|
Group's interest in comprehensive income
|
|
% of ownership interest held
|
|
Last financial statement issued
|
|||||
As of September 30, 2016
|
As of
June 30,
2016
|
|
As of September 30, 2016
|
As of September 30, 2015
|
|
As of September 30, 2016
|
As of
June 30,
2016
|
|
Share Capital (nominal value)
|
(Loss) profit for
the period
|
Shareholders' equity
|
||||
Quality
|
Argentina
|
Real Estate
|
76,814,342
|
69
|
69
|
|
(1)
|
(2)
|
|
50%
|
50%
|
|
154
|
(1)
|
137
|
Cyrsa
|
Argentina
|
Real Estate
|
8,748,269
|
19
|
18
|
|
1
|
1
|
|
50%
|
50%
|
|
17
|
2
|
37
|
Puerto
Retiro (1)
|
Argentina
|
Real Estate
|
23,067,250
|
63
|
59
|
|
(1)
|
-
|
|
50%
|
50%
|
|
46
|
(1)
|
38
|
Cresca
S.A. (2)
|
Paraguay
|
Agricultural
|
138,154
|
271
|
230
|
|
41
|
2
|
|
50%
|
50%
|
|
144
|
(i)
|
|
Mehadrin
|
Israel
|
Agricultural
|
1,509,889
|
946
|
985
|
|
(38)
|
-
|
|
45.41%
|
45.41%
|
|
(*) 3
|
(*) 70
|
(*) 499
|
Others
joint ventures (3)
|
|
|
|
797
|
825
|
|
18
|
1
|
|
N/A
|
N/A
|
|
N/A
|
N/A
|
N/A
|
|
|
|
|
2,165
|
2,186
|
|
20
|
2
|
|
|
|
|
|
|
|
|
September 30,
2016
|
|
June 30,
2016
|
Beginning of the period / year
|
13,507
|
|
2,653
|
Acquisition
/ increase in equity interest
|
121
|
|
157
|
Unrealized
loss from investments at fair value
|
-
|
|
(564)
|
Decrease
for the control obtainment
|
-
|
|
(1,047)
|
Associate
incorporated by business combination
|
-
|
|
8,308
|
Capital
contribution
|
33
|
|
180
|
Share
of (loss) / profit
|
(27)
|
|
310
|
Currency
translation adjustment
|
198
|
|
4,193
|
Cash
dividends (ii)
|
(4)
|
|
(518)
|
Sale of
associates
|
-
|
|
(4)
|
Hedging
instruments
|
56
|
|
(93)
|
Defined
benefit plans
|
(7)
|
|
(10)
|
Reclassification
to assets held for sale (Note 34)
|
(11,293)
|
|
-
|
Impairment
|
-
|
|
(58)
|
End of the period / year (i)
|
2,584
|
|
13,507
|
Name of the entity
|
Place of
business / Country of incorporation
|
Main activity
|
Common shares 1 vote
|
Value of Group's interest in equity
|
|
Group's interest in comprehensive income
|
|
% of ownership interest held
|
|
Last financial statement issued
|
|||||
As of September 30,
2016
|
As of
June 30,
2016
|
|
As of September 30,
2016
|
As of September 30,
2015
|
|
As of September 30, 2016
|
As of
June 30,
2016
|
|
Share Capital (nominal value)
|
Income / (loss)
for the
period
|
Shareholders' equity
|
||||
Tarshop
|
Argentina
|
Consumer
financing
|
48,759,288
|
74
|
72
|
|
2
|
(2)
|
|
20%
|
20%
|
|
244
|
(141)
|
145
|
New
Lipstick
|
United States
|
Real
Estate
|
N/A
|
(870)
|
(793)
|
|
(75)
|
(40)
|
|
49.73%
|
49.73%
|
|
N/A
|
(*) (8)
|
(*)
(143)
|
BHSA
|
Argentina
|
Financing
|
448,689,072
|
1,649
|
1,609
|
|
39
|
69
|
|
29.91%
|
29.99%
|
|
1,500
|
129
|
5,363
|
BACS
(1)
|
Argentina
|
Financing
|
7,812,500
|
45
|
21
|
|
11
|
1
|
|
12.5%
|
6.4%
|
|
63
|
27
|
356
|
IDBD
|
Israel
|
Investment
|
324,445,664
|
-
|
-
|
|
-
|
(590)
|
|
N/A
|
49.00%
|
|
-
|
-
|
-
|
Condor
|
United
States
|
Hotel
|
1,261,723
|
(20)
|
(45)
|
|
(25)
|
(33)
|
|
25.53%
|
26.91%
|
|
(*) 49
|
(*) 9
|
(*) 34
|
Adama
|
Israel
|
Agrochemical
|
55,196,352
|
-
|
10,847
|
|
-
|
-
|
|
40.00%
|
N/A
|
|
(**) 138
|
(**) 319
|
(**) 6,155
|
PBEL
|
India
|
Real
Estate
|
450,000
|
669
|
864
|
|
(42)
|
-
|
|
45.40%
|
N/A
|
|
(**) 1
|
(**) (29)
|
(**) (523)
|
Others
associates
|
|
|
|
1,037
|
932
|
|
261
|
4
|
|
|
N/A
|
|
-
|
-
|
-
|
|
|
|
|
2,584
|
13,507
|
|
171
|
(591)
|
|
|
|
|
|
|
|
|
Leased-out
farmland
|
|
Rental
properties (ii)
|
|
Undeveloped
parcels of land
|
|
Properties
under
development
|
|
Total
as of
September
30,
2016
|
|
Total
as of
June
30,
2016
|
Opening net book amount
|
9
|
|
43,302
|
|
2,477
|
|
3,978
|
|
49,766
|
|
3,475
|
Assets
incorporated by business combination
|
|
|
|
|
|
|
|
|
|
|
29,586
|
Currency
translation adjustment
|
-
|
|
367
|
|
2
|
|
16
|
|
385
|
|
16,762
|
Additions
|
-
|
|
309
|
|
12
|
|
421
|
|
742
|
|
1,190
|
Reclassification
to trading properties
|
-
|
|
-
|
|
-
|
|
(3)
|
|
(3)
|
|
(71)
|
Transfers
|
-
|
|
1,109
|
|
(224)
|
|
(885)
|
|
-
|
|
-
|
Reclassification
to property, plant and equipment
|
-
|
|
(4)
|
|
-
|
|
-
|
|
(4)
|
|
(12)
|
Reclassification
of property, plant and equipment
|
(8)
|
|
-
|
|
-
|
|
-
|
|
(8)
|
|
(1)
|
Impairment
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(339)
|
Disposals
|
-
|
|
(22)
|
|
-
|
|
-
|
|
(22)
|
|
(280)
|
Depreciation
charges (i)
|
(1)
|
|
(259)
|
|
(4)
|
|
-
|
|
(264)
|
|
(544)
|
Closing net book amount
|
-
|
|
44,802
|
|
2,263
|
|
3,527
|
|
50,592
|
|
49,766
|
|
|
|
|
|
|
|
|
|
|
|
|
Costs
|
2
|
|
47,440
|
|
2,275
|
|
3,527
|
|
53,244
|
|
52,160
|
Accumulated
depreciation
|
(2)
|
|
(2,638)
|
|
(12)
|
|
-
|
|
(2,652)
|
|
(2,394)
|
Net
book amount
|
-
|
|
44,802
|
|
2,263
|
|
3,527
|
|
50,592
|
|
49,766
|
|
September 30,
2016
|
|
September 30,
2015
|
Trade,
leases and services income
|
1,947
|
|
840
|
Direct
operating expenses
|
(876)
|
|
(350)
|
Development
expenses
|
(4)
|
|
(2)
|
Gain
from disposal of investment properties
|
19
|
|
384
|
|
Owner
occupied
farmland
|
|
Bearer
plant
|
|
Buildings
and
facilities
|
|
Machinery
and
equipment
|
|
Communication
networks
|
|
Others
(i)
|
|
Total
September
30,
2016
|
|
Total
June
30,
2016
|
Opening net book
amount
|
2,138
|
|
71
|
|
13,335
|
|
2,813
|
|
5,410
|
|
2,604
|
|
26,371
|
|
2,041
|
Assets
incorporated by business combination
|
-
|
|
-
|
|
-
|
|
-
|
|
|
|
|
|
|
|
15,104
|
Currency
translation
adjustment
|
211
|
|
14
|
|
1
|
|
-
|
|
(1)
|
|
28
|
|
253
|
|
9,207
|
Additions
|
36
|
|
19
|
|
136
|
|
140
|
|
199
|
|
112
|
|
642
|
|
1,259
|
Reclassifications
of investment properties
|
-
|
|
-
|
|
4
|
|
-
|
|
|
|
|
|
4
|
|
12
|
Reclassification
to group of assets held for sale (Note 34)
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(12)
|
|
(12)
|
|
-
|
Reclassifications
to investment properties
|
8
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
8
|
|
1
|
Disposals
|
(14)
|
|
-
|
|
-
|
|
(4)
|
|
(11)
|
|
(197)
|
|
(226)
|
|
(1)
|
Impairments
|
-
|
|
-
|
|
-
|
|
-
|
|
|
|
|
|
-
|
|
(13)
|
Depreciation
charge
(ii)
|
(16)
|
|
(12)
|
|
(131)
|
|
(138)
|
|
(261)
|
|
(109)
|
|
(667)
|
|
(1,234)
|
Closing net book
amount
|
2,363
|
|
92
|
|
13,345
|
|
2,811
|
|
5,336
|
|
2,426
|
|
26,373
|
|
26,376
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost
|
2,190
|
|
73
|
|
14,114
|
|
3,345
|
|
6,173
|
|
2,796
|
|
28,691
|
|
28,031
|
Accumulated
depreciation
|
173
|
|
19
|
|
(769)
|
|
(534)
|
|
(837)
|
|
(370)
|
|
(2,318)
|
|
(1,655)
|
Net
book
amount
|
2,363
|
|
92
|
|
13,345
|
|
2,811
|
|
5,336
|
|
2,426
|
|
26,373
|
|
26,376
|
|
Completed
properties
|
|
Properties
under
development
|
|
Undeveloped
sites
|
|
Total
September
30,
2016
|
|
Total
June
30,
2016
|
Opening
net book
amount
|
236
|
|
3,307
|
|
1,170
|
|
4,713
|
|
133
|
Additions
|
1
|
|
205
|
|
22
|
|
228
|
|
355
|
Currency
translation
adjustment
|
(7)
|
|
30
|
|
(8)
|
|
15
|
|
1,650
|
Transfers
|
-
|
|
213
|
|
(213)
|
|
-
|
|
-
|
Reclassifications
of investment properties
|
-
|
|
3
|
|
-
|
|
3
|
|
71
|
Assets incorporated
by business combination
|
-
|
|
-
|
|
-
|
|
-
|
|
2,656
|
Disposals
|
(153)
|
|
(56)
|
|
-
|
|
(209)
|
|
(152)
|
Closing
net book
amount
|
77
|
|
3,702
|
|
971
|
|
4,750
|
|
4,713
|
|
September 30,
2016
|
|
June 30,
2016
|
Non-current
|
3,531
|
|
4,472
|
Current
|
1,219
|
|
241
|
Total
|
4,750
|
|
4,713
|
|
Goodwill
|
|
Trademarks
|
|
Licenses
|
|
Customer
relations
|
|
Information
systems
and
software
|
|
Contracts
and
others
(ii)
(iii)
|
|
Total
as of
September
30,
2016
|
|
Total
as of
June
30,
2016
|
Opening net book amount
|
2,238
|
|
3,355
|
|
759
|
|
3,219
|
|
957
|
|
1,286
|
|
11,814
|
|
176
|
Assets
incorporated by business combination
|
90
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
90
|
|
7,994
|
Currency
translation adjustment
|
-
|
|
-
|
|
(5)
|
|
(8)
|
|
4
|
|
-
|
|
(9)
|
|
4,499
|
Reclassification
to assets held for sale (Note 34)
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(4)
|
|
(4)
|
|
-
|
Additions
|
-
|
|
-
|
|
-
|
|
-
|
|
89
|
|
-
|
|
89
|
|
137
|
Disposals
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1)
|
Amortization
charge (i)
|
-
|
|
(11)
|
|
(31)
|
|
(288)
|
|
(98)
|
|
(83)
|
|
(511)
|
|
(991)
|
Closing net book amount
|
2,328
|
|
3,344
|
|
723
|
|
2,923
|
|
952
|
|
1,199
|
|
11,469
|
|
11,814
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost
|
2,328
|
|
3,379
|
|
813
|
|
3,927
|
|
1,296
|
|
1,478
|
|
13,221
|
|
13,036
|
Accumulated
amortization
|
-
|
|
(35)
|
|
(90)
|
|
(1,004)
|
|
(344)
|
|
(279)
|
|
(1,752)
|
|
(1,222)
|
Net
book amount
|
2,328
|
|
3,344
|
|
723
|
|
2,923
|
|
952
|
|
1,199
|
|
11,469
|
|
11,814
|
Agricultural
business
|
|||
|
September
30,
2016
|
|
June
30,
2016
|
Beginning of the period / year
|
1,065
|
|
531
|
Purchases
|
16
|
|
36
|
Initial
recognition and changes in the fair value of biological assets
(i)
|
365
|
|
1,616
|
Decrease
due to harvest
|
(582)
|
|
(1,044)
|
Sales
|
(47)
|
|
(141)
|
Consume
|
(1)
|
|
(2)
|
Currency
translation adjustment
|
4
|
|
69
|
End of the period / year
|
820
|
|
1,065
|
|
|
September
30, 2016
|
||||||
|
Classification
|
Level
1
|
|
Level
2
|
|
Level
3
|
|
Total
|
Dairy
|
Production
|
-
|
|
51
|
|
-
|
|
51
|
Cattle
|
Production
|
-
|
|
481
|
|
-
|
|
481
|
Sugarcane
fields
|
Production
|
-
|
|
-
|
|
11
|
|
11
|
Other
cattle
|
Production
|
-
|
|
10
|
|
-
|
|
10
|
Others
biological assets
|
Production
|
6
|
|
-
|
|
-
|
|
6
|
Total
non-current biological
assets
|
|
6
|
|
542
|
|
11
|
|
559
|
Cattle
and cattle for sale
|
Consumable
|
-
|
|
61
|
|
-
|
|
61
|
Other
cattle
|
Consumable
|
-
|
|
2
|
|
-
|
|
2
|
Crops
fields
|
Consumable
|
93
|
|
-
|
|
42
|
|
135
|
Sugarcane
fields
|
Production
|
-
|
|
-
|
|
63
|
|
63
|
Total
current biological
assets
|
|
93
|
|
63
|
|
105
|
|
261
|
Total
biological
assets
|
|
99
|
|
605
|
|
116
|
|
820
|
|
|
June
30, 2016
|
||||||
|
Classification
|
Level
1
|
|
Level
2
|
|
Level
3
|
|
Total
|
Dairy
|
Production
|
-
|
|
49
|
|
-
|
|
49
|
Cattle
|
Production
|
-
|
|
432
|
|
-
|
|
432
|
Sugarcane
fields
|
Production
|
-
|
|
-
|
|
27
|
|
27
|
Other
cattle
|
Production
|
-
|
|
9
|
|
-
|
|
9
|
Others
biological assets
|
Production
|
7
|
|
-
|
|
-
|
|
7
|
Total
non-current biological
assets
|
|
7
|
|
490
|
|
27
|
|
524
|
Cattle
and cattle for sale
|
Consumable
|
-
|
|
75
|
|
-
|
|
75
|
Sugarcane
fields
|
Production
|
-
|
|
-
|
|
86
|
|
86
|
Other
cattle
|
Consumable
|
-
|
|
2
|
|
-
|
|
2
|
Crops
fields
|
Consumable
|
23
|
|
-
|
|
355
|
|
378
|
Total
current biological
assets
|
|
23
|
|
77
|
|
441
|
|
541
|
Total
biological
assets
|
|
30
|
|
567
|
|
468
|
|
1,065
|
Agricultural
business
|
|||
|
Crops
fields with significant biological growth
|
|
Sugarcane
fields
|
As
of June 30, 2015
|
40
|
|
70
|
Initial recognition
and changes in the fair value of biological
assets
|
837
|
|
146
|
Harvest
|
(522)
|
|
(181)
|
Currency
translation adjustment
|
-
|
|
78
|
As
of June 30, 2016
|
355
|
|
113
|
Initial recognition
and changes in the fair value of biological
assets
|
106
|
|
112
|
Changes due to
transformation
|
|
|
|
Harvest
|
(432)
|
|
(150)
|
Currency
translation adjustment
|
13
|
|
(1)
|
As
of September 30, 2016
|
42
|
|
74
|
Description
|
|
Pricing model
|
|
Parameters
|
|
Range
|
Cattle
(Level 2)
|
|
Comparable market prices
|
|
Price per livestock head/kg and per category
|
|
|
Crops
fields (Level 3)
|
|
Discounted cash flows
|
|
Yields – Operating costs –Selling expenses - Future of
sale prices
|
|
Argentina
|
Yields: 0.0 - 11.5 tn./ha.
|
||||||
Future of sale prices: 2,587 - 12,861 Ps./tn.
|
||||||
Operating cost: 833 - 7,659 Ps./ha.
|
||||||
|
|
|
|
|
|
|
Sugarcane
fields
(Level
3)
|
|
Discounted cash flows
|
|
Yields – Operating costs –Selling expenses - Future of
sale prices
Discount rate
|
|
Brazil:
|
Yields: 86.06 tn./ha.
|
||||||
|
|
|
Future of sale prices: 79.51 Rs./tn.
|
|||
|
|
|
Operating cost: 59.23 Rs./tn.
|
|||
|
|
|
|
|||
|
|
|
Bolivia:
|
|||
|
|
|
Yields: 51 - 116 tn./ha.
|
|||
|
|
|
Future
of sale prices: 23.50 - 23.40 US$/tn.
|
|||
|
|
|
Operating cost: 275 - 500 US$/ha.
|
|||
|
|
|
|
|
|
Others:
|
|
September 30,
2016
|
|
June 30,
2016
|
Crops
|
336
|
|
325
|
Materials
and inputs
|
313
|
|
250
|
Seeds
and fodders
|
118
|
|
109
|
Beef
|
40
|
|
31
|
Good
for resale and supplies
|
2,426
|
|
2,858
|
Telephones
and others communication equipment
|
265
|
|
327
|
Total inventories
|
3,498
|
|
3,900
|
|
Financial
assets at amortized cost
|
|
Financial assets at fair value through profit or loss
|
|
Subtotal
financial assets
|
|
Non-financial assets
|
|
Total
|
||
|
|
|
Level 1
|
Level 2
|
Level 3
|
|
|
|
|
|
|
September 30, 2016
|
|
|
|
|
|
|
|
|
|
|
|
Assets as per statement of financial position
|
|
|
|
|
|
|
|
|
|
|
|
Trade
and other receivables (excluding the allowance for doubtful
accounts and other receivables) (Note 17)
|
14,121
|
|
115
|
-
|
1,938
|
|
16,174
|
|
2,797
|
|
18,971
|
Investment
in financial assets:
|
|
|
|
|
|
|
|
|
|
|
|
-Equity
securities in public companies
|
-
|
|
1,419
|
-
|
614
|
|
2,033
|
|
-
|
|
2,033
|
-Equity
securities in private companies
|
-
|
|
-
|
-
|
1,195
|
|
1,195
|
|
-
|
|
1,195
|
-
Deposits
|
-
|
|
61
|
-
|
-
|
|
61
|
|
-
|
|
61
|
- Bonds
|
1,569
|
|
3,896
|
-
|
-
|
|
5,465
|
|
-
|
|
5,465
|
- Mutual funds
|
-
|
|
2,986
|
-
|
-
|
|
2,986
|
|
-
|
|
2,986
|
- Others
|
-
|
|
128
|
-
|
183
|
|
311
|
|
-
|
|
311
|
Derivative
financial instruments (Note 19):
|
|
|
|
|
|
|
|
|
|
|
|
-
Crops futures
|
-
|
|
7
|
-
|
-
|
|
7
|
|
-
|
|
7
|
-
Swaps
|
-
|
|
8
|
-
|
-
|
|
8
|
|
-
|
|
8
|
-
Crops options
|
-
|
|
10
|
-
|
-
|
|
10
|
|
-
|
|
10
|
-
Foreign-currency future contracts
|
-
|
|
-
|
19
|
-
|
|
19
|
|
-
|
|
19
|
-
Foreign-currency options
|
-
|
|
3
|
-
|
-
|
|
3
|
|
-
|
|
3
|
-
Others
|
-
|
|
3
|
-
|
-
|
|
3
|
|
-
|
|
3
|
Financial
assets held for sale (Note 18)
|
-
|
|
4,793
|
-
|
-
|
|
4,793
|
|
-
|
|
4,793
|
Restricted
assets
|
2,009
|
|
-
|
-
|
-
|
|
2,009
|
|
-
|
|
2,009
|
Cash
and cash equivalents (excluding bank overdrafts) (Note
20)
|
15,617
|
|
107
|
-
|
-
|
|
15,724
|
|
-
|
|
15,724
|
Total assets
|
33,316
|
|
13,536
|
19
|
3,930
|
|
50,801
|
|
2,797
|
|
53,598
|
|
Financial
liabilities at amortized cost
|
|
Financial liabilities
at fair value
|
|
Subtotal
financial liabilities
|
|
Non-financial liabilities
|
|
Total
|
||
|
|
|
Level 1
|
Level 2
|
Level 3
|
|
|
|
|
|
|
September 30, 2016
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities as per statement of financial position
|
|
|
|
|
|
|
|
|
|
|
|
Trade
and other payables (Note 21)
|
15,322
|
|
-
|
-
|
-
|
|
15,322
|
|
4,383
|
|
19,705
|
Borrowings
(excluding finance lease liabilities) (Note 23)
|
110,426
|
|
-
|
-
|
-
|
|
110,426
|
|
-
|
|
110,426
|
Derivative
financial instruments (Note 19):
|
|
|
|
|
|
|
|
|
|
|
|
-
Crops options
|
-
|
|
5
|
-
|
-
|
|
5
|
|
-
|
|
5
|
-
Forward contracts
|
-
|
|
226
|
-
|
-
|
|
226
|
|
-
|
|
226
|
-
Foreign-currency options
|
-
|
|
1
|
-
|
-
|
|
1
|
|
-
|
|
1
|
Total liabilities
|
125,748
|
|
232
|
-
|
-
|
|
125,980
|
|
4,383
|
|
130,363
|
|
Financial
assets at amortized cost
|
|
Financial assets at fair value through profit or loss
|
|
Subtotal
financial assets
|
|
Non-financial assets
|
|
Total
|
||
|
|
|
Level 1
|
Level 2
|
Level 3
|
|
|
|
|
|
|
June 30, 2016
|
|
|
|
|
|
|
|
|
|
|
|
Assets as per statement of financial position
|
|
|
|
|
|
|
|
|
|
|
|
Trade
and other receivables (excluding the allowance for doubtful
accounts and other receivables) (Note 17)
|
13,211
|
|
101
|
-
|
1,932
|
|
15,244
|
|
2,878
|
|
18,122
|
Investment
in financial assets:
|
|
|
|
|
|
|
|
|
|
|
|
-
Equity securities in public companies
|
-
|
|
1,400
|
-
|
499
|
|
1,899
|
|
-
|
|
1,899
|
-
Equity securities in private companies
|
-
|
|
-
|
15
|
1,324
|
|
1,339
|
|
-
|
|
1,339
|
-
Deposits
|
1,172
|
|
49
|
-
|
-
|
|
1,221
|
|
-
|
|
1,221
|
- Bonds
|
121
|
|
4,169
|
-
|
-
|
|
4,290
|
|
-
|
|
4,290
|
- Mutual funds
|
-
|
|
2,920
|
-
|
-
|
|
2,920
|
|
-
|
|
2,920
|
- Others
|
-
|
|
90
|
-
|
140
|
|
230
|
|
-
|
|
230
|
Derivative
financial instruments (Note 19):
|
|
|
|
|
|
|
|
|
|
|
|
-
Crops options
|
-
|
|
7
|
-
|
-
|
|
7
|
|
-
|
|
7
|
-
Foreign-currency options
|
-
|
|
2
|
-
|
-
|
|
2
|
|
-
|
|
2
|
-
Foreign-currency future contracts
|
-
|
|
-
|
25
|
-
|
|
25
|
|
-
|
|
25
|
-
Swaps
|
-
|
|
4
|
-
|
-
|
|
4
|
|
-
|
|
4
|
-
Others
|
-
|
|
7
|
16
|
-
|
|
23
|
|
-
|
|
23
|
Financial
assets held for sale (Note 18)
|
|
|
4,602
|
-
|
-
|
|
4,602
|
|
-
|
|
4,602
|
Restricted
assets
|
876
|
|
-
|
-
|
-
|
|
876
|
|
-
|
|
876
|
Cash
and cash equivalents (excluding bank overdrafts) (Note
20)
|
6,359
|
|
7,737
|
-
|
-
|
|
14,096
|
|
-
|
|
14,096
|
Total assets
|
21,739
|
|
21,088
|
56
|
3,895
|
|
46,778
|
|
2,878
|
|
49,656
|
|
Financial
liabilities at amortized cost
|
|
Financial liabilities
at fair value
|
|
Subtotal
financial liabilities
|
|
Non-financial liabilities
|
|
Total
|
||
|
|
|
Level 1
|
Level 2
|
Level 3
|
|
|
|
|
|
|
June 30, 2016
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities as per statement of financial position
|
|
|
|
|
|
|
|
|
|
|
|
Trade
and other payables (Note 21)
|
18,917
|
|
-
|
-
|
-
|
|
18,917
|
|
1,054
|
|
19,971
|
Borrowings
(excluding finance lease liabilities) (Note 23)
|
106,271
|
|
-
|
-
|
10,999
|
|
117,270
|
|
-
|
|
117,270
|
Derivative
financial instruments (Note 19):
|
|
|
|
|
|
|
|
|
|
|
|
-
Crops futures
|
-
|
|
33
|
-
|
-
|
|
33
|
|
-
|
|
33
|
-
Forward contracts
|
-
|
|
198
|
-
|
-
|
|
198
|
|
-
|
|
198
|
-
Foreign-currency future contracts
|
-
|
|
28
|
3
|
-
|
|
31
|
|
-
|
|
31
|
-
Crops options
|
-
|
|
5
|
-
|
-
|
|
5
|
|
-
|
|
5
|
-
Foreign-currency options
|
-
|
|
1
|
-
|
-
|
|
1
|
|
-
|
|
1
|
Total liabilities
|
125,188
|
|
265
|
3
|
10,999
|
|
136,455
|
|
1,054
|
|
137,509
|
|
Equity securities in public companies
|
|
Equity securities in private companies
|
|
Others
|
|
Warrants
of Condor
|
|
Investment
in associate IDBD
|
|
Commitment
to tender offer shares in IDBD
|
|
Non-recourse loans
|
|
Trade and other receivables (cellocom)
|
|
Total
|
Balance as of June 30, 2015
|
349
|
|
102
|
|
-
|
|
7
|
|
-
|
|
(501)
|
|
-
|
|
-
|
|
(43)
|
Additions
and acquisitions
|
50
|
|
27
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
77
|
Transfer
to level 3
|
-
|
|
-
|
|
-
|
|
-
|
|
1,529
|
|
-
|
|
(26)
|
|
-
|
|
1,503
|
Currency
translation adjustment
|
-
|
|
291
|
|
52
|
|
-
|
|
(482)
|
|
(18)
|
|
(3,610)
|
|
706
|
|
(3,061)
|
Obtainment
of control over IDBD
|
-
|
|
861
|
|
88
|
|
-
|
|
(1,047)
|
|
500
|
|
(7,336)
|
|
1,187
|
|
(5,747)
|
Gains
and losses for the year
|
100
|
|
43
|
|
-
|
|
(7)
|
|
-
|
|
19
|
|
(27)
|
|
39
|
|
167
|
Balance as of June 30, 2016
|
499
|
|
1,324
|
|
140
|
|
-
|
|
-
|
|
-
|
|
(10,999)
|
|
1,932
|
|
(7,104)
|
Additions
and acquisitions
|
-
|
|
7
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
7
|
Transfer
to level 3
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Reclassification
to assets held for sale
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
11,272
|
|
-
|
|
11,272
|
Currency
translation adjustment
|
-
|
|
14
|
|
2
|
|
-
|
|
-
|
|
-
|
|
242
|
|
1
|
|
259
|
Obtainment
of control over IDBD
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Gains
and losses recognized in the period
|
115
|
|
(150)
|
|
41
|
|
-
|
|
-
|
|
-
|
|
(515)
|
|
5
|
|
(504)
|
Balance as of September 30, 2016
|
614
|
|
1,195
|
|
183
|
|
-
|
|
-
|
|
-
|
|
-
|
|
1,938
|
|
3,930
|
|
September 30,
2016
|
|
June 30,
2016
|
Non-current
|
|
|
|
Trade receivables
|
|
|
|
Trade, leases and
services receivable
|
2,089
|
|
2,015
|
Receivables from
sale of agricultural products
|
1
|
|
-
|
Trade receivables
related to agricultural properties
|
21
|
|
54
|
Less: allowance for
doubtful accounts
|
(2)
|
|
(2)
|
Non-current
trade receivables
|
2,109
|
|
2,067
|
Other
receivables
|
|
|
|
Tax
credits
|
152
|
|
119
|
Guarantee
deposits
|
28
|
|
24
|
Prepayments
|
1,303
|
|
1,320
|
Loans
|
328
|
|
239
|
Others
|
36
|
|
4
|
Non-current
other receivables
|
1,847
|
|
1,706
|
Non-current
trade and other receivables
|
3,956
|
|
3,773
|
Current
|
|
|
|
Trade receivables
|
|
|
|
Trade, leases and
services receivable
|
923
|
|
921
|
Receivables from
sale of agricultural products and farmlands leases
|
524
|
|
362
|
Trade receivables
related to agricultural properties
|
57
|
|
22
|
Deferred checks
received
|
307
|
|
304
|
Trade
receivables
|
6,401
|
|
5,970
|
Credit card
receivables
|
3,631
|
|
3,872
|
Less: allowance for
doubtful accounts
|
(197)
|
|
(189)
|
Total
current trade receivables
|
11,646
|
|
11,262
|
Other
receivables
|
|
|
|
Tax
credits
|
198
|
|
180
|
Guarantee
deposits
|
87
|
|
78
|
Prepayments
|
699
|
|
681
|
VAT credit to be
transferred
|
7
|
|
11
|
Borrowings granted,
deposits, and other balances
|
1,227
|
|
1,243
|
Advance
payments
|
438
|
|
328
|
Others
|
514
|
|
375
|
Total
current other receivables
|
3,170
|
|
2,896
|
Total
current trade and other receivables
|
14,816
|
|
14,158
|
Total
trade and other receivables
|
18,772
|
|
17,931
|
|
September 30,
2016
|
|
June 30,
2016
|
Beginning
of the year
|
191
|
|
120
|
Recovery
|
(15)
|
|
(53)
|
Used during the
period / year
|
(41)
|
|
(4)
|
Creation
|
63
|
|
113
|
Currency
translation adjustment
|
1
|
|
15
|
End
of the period / year
|
199
|
|
191
|
|
September 30,
2016
|
|
June 30,
2016
|
Non-current
|
|
|
|
Clal
|
2,615
|
|
3,346
|
Non-current financial assets held for sale
|
2,615
|
|
3,346
|
|
|
|
|
Current
|
|
|
|
Clal
|
2,178
|
|
1,256
|
Current financial assets held for sale
|
2,178
|
|
1,256
|
Total financial assets held for sale
|
4,793
|
|
4,602
|
|
September 30,
2016
|
|
June 30,
2016
|
Assets
|
|
|
|
Non-current
|
|
|
|
Swaps
|
4
|
|
-
|
Others
|
-
|
|
8
|
Total
non-current
|
4
|
|
8
|
Current
|
|
|
|
Foreign-currency
future contracts
|
19
|
|
25
|
Foreign-currency
options
|
3
|
|
2
|
Crops
options
|
10
|
|
7
|
Crops
futures
|
7
|
|
-
|
Swaps
|
4
|
|
4
|
Others
|
3
|
|
15
|
Total
current
|
46
|
|
53
|
Total
assets
|
50
|
|
61
|
Liabilities
|
|
|
|
Non-current
|
|
|
|
Forward
contracts
|
125
|
|
105
|
Crops
futures
|
-
|
|
16
|
Total
non-current
|
125
|
|
121
|
Current
|
|
|
|
Foreign-currency
future contracts
|
-
|
|
31
|
Foreign-currency
options
|
1
|
|
1
|
Crops
options
|
5
|
|
5
|
Crops
futures
|
-
|
|
17
|
Forward
contracts
|
101
|
|
93
|
Total
current
|
107
|
|
147
|
Total
liabilities
|
232
|
|
268
|
|
September 30,
2016
|
|
June 30,
2016
|
Cash at bank and on
hand
|
15,508
|
|
6,259
|
Short-term bank in
deposits
|
109
|
|
100
|
Mutual
funds
|
107
|
|
7,737
|
Total
cash and cash equivalents
|
15,724
|
|
14,096
|
|
|
September
30,
2016
|
|
September
30,
2015
|
Loss for the period
|
|
(873)
|
|
(356)
|
Adjustments
for:
|
|
|
|
|
Income
tax expense
|
|
28
|
|
92
|
Depreciation
and amortization
|
|
1,442
|
|
70
|
Gain
from disposal of investment properties
|
|
(19)
|
|
(384)
|
Gain
from disposal of farmlands
|
|
(73)
|
|
-
|
Gain on
the revaluation of receivables arising from the sale of
farmland
|
|
(9)
|
|
(14)
|
Loss
from disposal of property, plant and equipment
|
|
7
|
|
6
|
Dividends
income
|
|
(24)
|
|
(4)
|
Share
based payments
|
|
26
|
|
9
|
Unrealized
gain on derivative financial instruments
|
|
(64)
|
|
(123)
|
Changes
in fair value of financial assets
|
|
(277)
|
|
234
|
Financial
results, net
|
|
2,214
|
|
224
|
Unrealized
initial recognition and changes in fair value of biological assets
and agricultural produce at the point of harvest
|
|
(242)
|
|
(124)
|
Changes
in the net realizable value of agricultural produce after
harvest
|
|
98
|
|
9
|
Provisions
|
|
58
|
|
50
|
Share
of (profit) loss of associates and joint
ventures
|
|
(102)
|
|
497
|
Unrealized
foreign exchange loss, net
|
|
1
|
|
186
|
Gain
from repurchase of Non-convertible Notes
|
|
(1)
|
|
-
|
Other
operating results
|
|
(4)
|
|
-
|
Changes in operating assets and liabilities:
|
|
|
|
|
Decrease
in biological assets
|
|
511
|
|
143
|
Decrease
in inventories
|
|
282
|
|
25
|
Decrease
in trading properties
|
|
63
|
|
1
|
Increase
in trade and other receivables
|
|
(481)
|
|
(29)
|
Increase
in derivative financial instruments
|
|
(2)
|
|
(85)
|
Increase
in trade and other payables
|
|
131
|
|
105
|
Decrease
in employee benefits
|
|
(82)
|
|
(121)
|
Increase
in provisions
|
|
1
|
|
2
|
Net cash generated from operating activities before income tax
paid
|
|
2,609
|
|
413
|
|
September 30,
2016
|
|
September 30,
2015
|
Increase
of investment in associates and joint ventures through a decrease
in trade and other receivables
|
12
|
|
-
|
Decrease
in trade and other payables through a decrease in financial
assets
|
13
|
|
-
|
Increase
in trade and other receivables through a decrease in property,
plant and equipment
|
(15)
|
|
-
|
Increase
in investment properties through an increase in trade and other
payables
|
85
|
|
-
|
Increase
in restricted assets through an increase in
borrowings
|
1,322
|
|
-
|
Dividends
not
collected
|
(10)
|
|
(2)
|
Increase
in property, plant and equipment through an increase in
borrowings
|
-
|
|
1
|
Stock
plan
granted
|
-
|
|
(3)
|
|
September 30,
2016
|
|
September 30, 2015
|
Property, plant and equipment
|
12
|
|
-
|
Intangible assets
|
4
|
|
-
|
Investments in joint ventures and associates
|
11,454
|
|
-
|
Deferred income tax
|
(18)
|
|
-
|
Trade and other receivables
|
(56)
|
|
-
|
Income tax credit
|
(1)
|
|
-
|
Trade and other payables
|
(17)
|
|
-
|
Payroll and social security expenses
|
(8)
|
|
-
|
Borrowings
|
(11,256)
|
|
-
|
Provisions
|
2
|
|
-
|
Income tax and minimum presumed income tax
liabilities
|
2
|
|
-
|
Net amount of non-cash assets incorporated / held for
sale
|
118
|
|
-
|
Cash and cash equivalents
|
5
|
|
-
|
Non-controlling interest
|
19
|
|
-
|
Goodwill not yet allocated
|
(90)
|
|
-
|
Net amount of assets incorporated / held for
sale
|
52
|
|
-
|
Interest held before acquisition
|
31
|
|
-
|
Seller financed amount
|
17
|
|
-
|
Cash and cash equivalents incorporated / held for
sale
|
(5)
|
|
-
|
Net outflow of cash and cash equivalents / assets and liabilities
held for sale
|
95
|
|
-
|
|
September 30,
2016
|
|
June 30,
2016
|
Non-current
|
|
|
|
Trade payables
|
|
|
|
Trade
payables
|
1,064
|
|
525
|
Total
non-current trade payables
|
1,064
|
|
525
|
Other
payables
|
|
|
|
Deferred
incomes
|
81
|
|
65
|
Taxes
payable
|
6
|
|
8
|
Others
|
1,291
|
|
930
|
Total
non-current other payables
|
1,378
|
|
1,003
|
Total
non-current trade and other payables
|
2,442
|
|
1,528
|
Current
|
|
|
|
Trade payables
|
|
|
|
Admission
rights
|
1
|
|
188
|
Trade
payables
|
11,116
|
|
11,180
|
Accrued
invoices
|
1,858
|
|
612
|
Leases and services
payments received in advance
|
1,942
|
|
4,594
|
Guarantee
deposits
|
-
|
|
24
|
Total
current trade payables
|
14,917
|
|
16,598
|
Other
payables
|
|
|
|
Deferred
incomes
|
18
|
|
2
|
Taxes
payable
|
279
|
|
333
|
Other liabilities
with non-controlling shareholders
|
-
|
|
6
|
Dividends payable
to non-controlling shareholders
|
85
|
|
435
|
Others
|
1,964
|
|
1,069
|
Total
current other payables
|
2,346
|
|
1,845
|
Total
current trade and other payables
|
17,263
|
|
18,443
|
Total
trade and other payables
|
19,705
|
|
19,971
|
|
Legal
claims (i)
|
|
Investments in associates and joint ventures (ii)
|
|
Sited dismantling and remediation (iii)
|
|
Onerous contracts (iv)
|
|
Guarantees and other provisions
|
|
Total as of September 30, 2016
|
|
Total as of
June 30,
2016
|
Beginning of the period / year
|
704
|
|
841
|
|
114
|
|
296
|
|
427
|
|
2,382
|
|
442
|
Additions
|
61
|
|
38
|
|
-
|
|
4
|
|
41
|
|
144
|
|
264
|
Unused
amounts reversed
|
(39)
|
|
-
|
|
-
|
|
(75)
|
|
-
|
|
(114)
|
|
(70)
|
Liabilities
added as a result of the merger
|
3
|
|
-
|
|
-
|
|
-
|
|
-
|
|
3
|
|
-
|
Contributions
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(18)
|
Liabilities
incorporated by business combination
|
2
|
|
-
|
|
-
|
|
-
|
|
-
|
|
2
|
|
969
|
Currency
translation adjustment
|
4
|
|
16
|
|
-
|
|
(3)
|
|
13
|
|
30
|
|
795
|
End of the period / year
|
735
|
|
895
|
|
114
|
|
222
|
|
481
|
|
2,447
|
|
2,382
|
|
September 30,
2016
|
|
June 30,
2016
|
Non-current
|
1,361
|
|
1,341
|
Current
|
1,086
|
|
1,041
|
Total
|
2,447
|
|
2,382
|
|
September 30,
2016
|
|
June 30,
2016
|
Non-current
|
|
|
|
Non-convertible
notes
|
77,280
|
|
69,997
|
Bank loans and
others
|
6,822
|
|
6,737
|
Non-recourse
loan
|
6,107
|
|
16,975
|
Other
borrowings
|
125
|
|
99
|
Non-current
borrowings
|
90,334
|
|
93,808
|
Current
|
|
|
|
Non-convertible
notes
|
14,241
|
|
15,595
|
Bank loans and
others
|
3,469
|
|
4,605
|
Bank
overdrafts
|
246
|
|
1,397
|
Other
borrowings
|
2,155
|
|
1,891
|
Current
borrowings
|
20,111
|
|
23,488
|
Total
borrowings
|
110,445
|
|
117,296
|
|
|
September 30, 2016
|
||||||||||||||||||||
|
|
Agricultural business
|
|
Urban properties and investments business
|
|
|
||||||||||||||||
|
|
|
|
|
Operations Center in Argentina
|
|
Operations Center in Israel
|
|
|
|
|
|||||||||||
Debt
|
|
Cresud
|
BrasilAgro
|
Others
|
Subtotal
|
|
IRSA
|
IRSA CP
|
Others
|
Subtotal
Operations Center in Argentina
|
|
IDBD
|
DIC
|
Shufersal
|
Cellcom
|
PBC
|
Others
|
Subtotal
Operations Center in Israel
|
|
Subtotal
|
|
Total
|
Non-convertible
notes
|
|
2,984
|
-
|
-
|
2,984
|
|
5,467
|
5,782
|
-
|
11,249
|
|
7,857
|
13,634
|
10,135
|
17,059
|
28,603
|
-
|
77,288
|
|
88,537
|
|
91,521
|
Bank loans and
others
|
|
1,046
|
414
|
19
|
1,479
|
|
1
|
6
|
9
|
16
|
|
2,246
|
1,042
|
13
|
778
|
3,181
|
1,536
|
8,796
|
|
8,812
|
|
10,291
|
Non-recourse
loan
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
|
-
|
(i) -
|
-
|
-
|
6,107
|
-
|
6,107
|
|
6,107
|
|
6,107
|
Bank
overdrafts
|
|
29
|
-
|
30
|
59
|
|
5
|
24
|
49
|
78
|
|
-
|
-
|
-
|
-
|
-
|
109
|
109
|
|
187
|
|
246
|
Other
borrowings
|
|
-
|
111
|
-
|
111
|
|
15
|
11
|
178
|
204
|
|
-
|
210
|
-
|
-
|
1,755
|
-
|
1,965
|
|
2,169
|
|
2,280
|
Total
debt
|
|
4,059
|
525
|
49
|
4,633
|
|
5,488
|
5,823
|
236
|
11,547
|
|
10,103
|
14,886
|
10,148
|
17,837
|
39,646
|
1,645
|
94,265
|
|
105,812
|
|
110,445
|
|
|
June 30, 2016
|
||||||||||||||||||||
|
|
Agricultural business
|
|
Urban properties and investments business
|
|
|
||||||||||||||||
|
|
|
|
|
Operations Center in Argentina
|
|
Operations Center in Israel
|
|
|
|
|
|||||||||||
Debt
|
|
Cresud
|
BrasilAgro
|
Others
|
Subtotal
|
|
IRSA
|
IRSA CP
|
Others
|
Subtotal
Operations Center in Argentina
|
|
IDBD
|
DIC
|
Shufersal
|
Cellcom
|
PBC
|
Others
|
Subtotal
Operations Center in Israel
|
|
Subtotal
|
|
Total
|
Non-convertible
notes
|
|
3,283
|
-
|
-
|
3,283
|
|
2,287
|
5,799
|
-
|
8,086
|
|
7,807
|
12,436
|
10,037
|
15,277
|
28,666
|
-
|
74,223
|
|
82,309
|
|
85,592
|
Bank loans and
others
|
|
452
|
440
|
15
|
907
|
|
-
|
44
|
13
|
57
|
|
2,214
|
1,171
|
16
|
779
|
2,003
|
4,195
|
10,378
|
|
10,435
|
|
11,342
|
Non-recourse
loan
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
|
-
|
10,999
|
-
|
-
|
5,976
|
-
|
16,975
|
|
16,975
|
|
16,975
|
Bank
overdrafts
|
|
114
|
-
|
47
|
161
|
|
859
|
40
|
45
|
944
|
|
-
|
-
|
-
|
-
|
-
|
292
|
292
|
|
1,236
|
|
1,397
|
Other
borrowings
|
|
-
|
12
|
-
|
12
|
|
15
|
10
|
119
|
144
|
|
-
|
-
|
-
|
-
|
1,834
|
-
|
1,834
|
|
1,978
|
|
1,990
|
Total
debt
|
|
3,849
|
452
|
62
|
4,363
|
|
3,161
|
5,893
|
177
|
9,231
|
|
10,021
|
24,606
|
10,053
|
16,056
|
38,479
|
4,487
|
103,702
|
|
112,933
|
|
117,296
|
|
Agricultural business
|
||||||||||||||||||||
|
Company
|
|
Secured / Unsecured
|
|
Series
|
|
Currency
|
|
Rate
|
|
Adjustment factor
|
|
Payment date of principal
|
|
Interest rate %
|
|
Capital
nominal value
in million
Issue currency
|
|
Value as of
September 30,
2016
|
|
Value as of
June 30,
2016
|
Non-convertible notes
|
Cresud
|
|
Unsecured
|
|
XIV
|
|
US$
|
|
Fixed
|
|
N/A
|
|
2018
|
|
1.50%
|
|
64
|
|
466
|
|
482
|
|
Cresud
|
|
Unsecured
|
|
XVI
|
|
US$
|
|
Fixed
|
|
N/A
|
|
2018
|
|
1.50%
|
|
218
|
|
1,350
|
|
1,446
|
|
Cresud
|
|
Unsecured
|
|
XVIII
|
|
US$
|
|
Fixed
|
|
N/A
|
|
2019
|
|
4.00%
|
|
68
|
|
504
|
|
512
|
|
Cresud
|
|
Unsecured
|
|
XIX
|
|
Ps.
|
|
Fixed
|
|
N/A
|
|
2016
|
|
27.50%
|
|
187
|
|
-
|
|
189
|
|
Cresud
|
|
Unsecured
|
|
XX
|
|
US$
|
|
Fixed
|
|
N/A
|
|
2019
|
|
2.50%
|
|
36
|
|
124
|
|
123
|
|
Cresud
|
|
Unsecured
|
|
XXI
|
|
Ps.
|
|
Floating
|
|
N/A
|
|
2017
|
|
Badlar
+ 375 bp.
|
|
384
|
|
199
|
|
197
|
|
Cresud
|
|
Unsecured
|
|
XXII
|
|
US$
|
|
Fixed
|
|
N/A
|
|
2019
|
|
4.00%
|
|
44
|
|
341
|
|
334
|
Subtotal
Non-convertible notes
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,984
|
|
3,283
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank
loans and others
|
Cresud
|
|
Unsecured
|
|
-
|
|
US$
|
|
Floating
|
|
N/A
|
|
2022
|
|
Libor + 300 BP or 6% (the higher)
|
|
30
|
|
200
|
|
200
|
|
Cresud
|
|
Unsecured
|
|
-
|
|
Ps.
|
|
Fixed
|
|
N/A
|
|
2016
|
|
15.01%
|
|
31
|
|
-
|
|
17
|
|
Cresud
|
|
Unsecured
|
|
-
|
|
Ps.
|
|
Floating
|
|
TEPF
|
|
2017
|
|
Rate Survey PF 30-59 days
|
|
40
|
|
7
|
|
11
|
|
Cresud
|
|
Unsecured
|
|
|
|
US$
|
|
Fixed
|
|
N/A
|
|
|
|
3.50%
|
|
15
|
|
234
|
|
225
|
|
Cresud
|
|
Secured
|
|
-
|
|
US$
|
|
Fixed
|
|
N/A
|
|
2020
|
|
10.75% - 7.14% to 14.5%
|
|
6
|
|
1
|
|
1
|
|
Cresud
|
|
Unsecured
|
|
-
|
|
US$
|
|
Fixed
|
|
N/A
|
|
-
|
|
5.6%
|
|
40
|
|
604
|
|
-
|
|
Brasilagro
|
|
Secured
|
|
-
|
|
Rs.
|
|
Floating
|
|
TJLP
|
|
-
|
|
TJLP + 3 to 4.40
|
|
-
|
|
39
|
|
7
|
|
Brasilagro
|
|
Secured
|
|
-
|
|
Rs.
|
|
Floating
|
|
TJLP
|
|
-
|
|
TJLP
+ 3.45 to 4.45 SELIC + 3.45
|
|
-
|
|
220
|
|
211
|
|
Brasilagro
|
|
Secured
|
|
-
|
|
Rs.
|
|
Floating
|
|
N/A
|
|
-
|
|
7.51 to 15.12
|
|
-
|
|
153
|
|
130
|
|
Brasilagro
|
|
Unsecured
|
|
-
|
|
Rs.
|
|
Fixed
|
|
N/A
|
|
-
|
|
6.92%
|
|
-
|
|
15
|
|
21
|
|
Brasilagro
|
|
Secured
|
|
-
|
|
Rs.
|
|
Floating
|
|
N/A
|
|
-
|
|
100% CDI
|
|
-
|
|
98
|
|
82
|
|
Agropecuarias
SC
|
|
Secured
|
|
-
|
|
Bol.
|
|
Fixed
|
|
N/A
|
|
-
|
|
6% annual
|
|
|
|
11
|
|
11
|
|
Carnes
Pampeanas
|
|
Secured
|
|
-
|
|
Ps.
|
|
Floating
|
|
N/A
|
|
-
|
|
6% annual
|
|
-
|
|
8
|
|
3
|
Subtotal
bank loans and others
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,590
|
|
919
|
Bank
overdrafts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
59
|
|
161
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,633
|
|
4,363
|
|
Operations Center in Argentina
|
||||||||||||||||||
|
Company
|
|
Secured / Unsecured
|
|
Series / Class
|
|
Currency
|
|
Rate
|
|
Payment date of principal
|
|
interest rate %
|
|
Capital nominal value in million
Issue currency
|
|
Value as of
September 30,
2016
|
|
Value as of
June 30,
2016
|
Non-convertible notes
|
IRSA CP
|
|
Unsecured
|
|
Class I
|
|
Ps.
|
|
Fixed / Floating
|
|
2017
|
|
Badlar
+ 4 bp.
|
|
407
|
|
410
|
|
409
|
|
IRSA CP
|
|
Unsecured
|
|
Class II
|
|
US$
|
|
Fixed
|
|
2023
|
|
8.75%
|
|
360
|
|
5,372
|
|
5,273
|
|
IRSA
|
|
Unsecured
|
|
Class I
|
|
US$
|
|
Fixed
|
|
2017
|
|
8.50%
|
|
75
|
|
1,156
|
|
1,159
|
|
IRSA
|
|
Unsecured
|
|
Class VII
|
|
Ps.
|
|
Floating
|
|
2019
|
|
Badlar
+ 299
|
|
384
|
|
386
|
|
-
|
|
IRSA
|
|
Unsecured
|
|
Class VIII
|
|
US$
|
|
Fixed
|
|
2019
|
|
7.0%
|
|
184
|
|
2,808
|
|
-
|
|
IRSA
|
|
Unsecured
|
|
Class VI
|
|
Ps.
|
|
Floating
|
|
2017
|
|
Badlar
+ 450bps
|
|
11
|
|
10
|
|
127
|
|
IRSA
|
|
Unsecured
|
|
Class V
|
|
Ps.
|
|
Floating
|
|
2015
|
|
Badlar
+ 395bps
|
|
-
|
|
-
|
|
-
|
|
IRSA
|
|
Unsecured
|
|
Class II
|
|
US$
|
|
Fixed
|
|
2020
|
|
11.50%
|
|
75
|
|
1,107
|
|
1,118
|
Total
Non-convertible notes
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,249
|
|
8,086
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank loans
|
IRSA
|
|
Secured
|
|
-
|
|
US$
|
|
Fixed
|
|
2020
|
|
3.2% to 14.3%
|
|
1
|
|
1
|
|
1
|
and
others
|
IRSA
|
|
Unsecured
|
|
-
|
|
Ps.
|
|
Floating
|
|
2017
|
|
Badlar
|
|
15
|
|
14
|
|
14
|
|
IRSA CP
|
|
Secured
|
|
-
|
|
US$
|
|
Fixed
|
|
2020
|
|
3.2% to 14.3%
|
|
-
|
|
4
|
|
5
|
|
IRSA CP
|
|
Unsecured
|
|
-
|
|
Ps.
|
|
Fixed
|
|
2016
|
|
15.25%
|
|
1
|
|
1
|
|
1
|
|
IRSA CP
|
|
Unsecured
|
|
-
|
|
Ps.
|
|
Fixed
|
|
2017
|
|
26.50%
|
|
7
|
|
5
|
|
7
|
|
IRSA CP
|
|
Unsecured
|
|
-
|
|
Ps.
|
|
Fixed
|
|
2016
|
|
23%
|
|
36
|
|
-
|
|
36
|
|
IRSA CP
|
|
Unsecured
|
|
-
|
|
Ps.
|
|
Fixed / Floating
|
|
2016
|
|
Badlar
/ 8.50%
|
|
6
|
|
7
|
|
6
|
|
HASA
|
|
Unsecured
|
|
-
|
|
Ps.
|
|
Fixed
|
|
2016
|
|
15.25%
|
|
6
|
|
4
|
|
6
|
|
LLAO
LLAO
|
|
Unsecured
|
|
-
|
|
Ps.
|
|
Fixed
|
|
2016
|
|
15.25%
|
|
1
|
|
1
|
|
1
|
|
NFSA
|
|
Unsecured
|
|
-
|
|
Ps.
|
|
Fixed
|
|
2016
|
|
24%
|
|
6
|
|
4
|
|
6
|
|
BNSA
|
|
Secured
|
|
-
|
|
Ps.
|
|
Floating
|
|
-
|
|
Libor
|
|
44
|
|
57
|
|
-
|
|
LIVECK
|
|
Secured
|
|
-
|
|
US$
|
|
Fixed
|
|
2017
|
|
-
|
|
2
|
|
36
|
|
35
|
|
LIVECK
|
|
Secured
|
|
-
|
|
US$
|
|
Fixed
|
|
|
|
3.50%
|
|
5
|
|
86
|
|
83
|
Total
bank loans and others
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
220
|
|
201
|
Bank
overdrafts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
78
|
|
944
|
Subtotal
Operations Center in Argentina
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,547
|
|
9,231
|
|
Operations Center in Israel
|
|||||||||||||||||||
|
Company
|
|
Secured / Unsecured
|
|
Series
|
|
Currency
|
|
Rate
|
|
Adjustment factor
|
|
Payment date of principal
|
|
interest rate %
|
|
Capital nominal value in million issue currency
|
|
Value as of
September 30,
2016
|
Value as of
June 30,
2016
|
|
IDBD
|
|
Unsecured
|
|
G
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2016 – 2018
|
|
4.50%
|
|
535
|
|
2,223
|
3,534
|
Non-
|
IDBD
|
|
Unsecured
|
|
I
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2020 – 2025
|
|
4.95%
|
|
1,337
|
|
4,490
|
3,164
|
convertible notes
|
IDBD
|
|
Unsecured
|
|
J
|
|
NIS
|
|
Fixed
|
|
N/A
|
|
2015 – 2018
|
|
6.60%
|
|
309
|
|
1,144
|
1,109
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIC
|
|
Unsecured
|
|
D
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2012 – 2016
|
|
5.00%
|
|
-
|
|
-
|
510
|
|
DIC
|
|
Unsecured
|
|
F
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2017 – 2025
|
|
4.95%
|
|
2,719
|
|
9,766
|
9,427
|
|
DIC
|
|
Unsecured
|
|
G
|
|
NIS
|
|
Fixed
|
|
N/A
|
|
2012 – 2016
|
|
6.35%
|
|
8
|
|
31
|
31
|
|
DIC
|
|
Unsecured
|
|
H
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2014 – 2019
|
|
4.45%
|
|
93
|
|
389
|
541
|
|
DIC
|
|
Unsecured
|
|
I
|
|
NIS
|
|
Fixed
|
|
N/A
|
|
2010 – 2018
|
|
6.70%
|
|
873
|
|
3,448
|
1,927
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shufersal
|
|
Unsecured
|
|
B
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2015 – 2019
|
|
5.20%
|
|
833
|
|
4,431
|
5,161
|
|
Shufersal
|
|
Unsecured
|
|
C
|
|
NIS
|
|
Fixed
|
|
N/A
|
|
2010 – 2017
|
|
5.45%
|
|
114
|
|
463
|
459
|
|
Shufersal
|
|
Unsecured
|
|
D
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2014 – 2029
|
|
2.99%
|
|
413
|
|
1,596
|
1,584
|
|
Shufersal
|
|
Unsecured
|
|
E
|
|
NIS
|
|
Fixed
|
|
N/A
|
|
2014 – 2029
|
|
5.09%
|
|
392
|
|
1,600
|
1,580
|
|
Shufersal
|
|
Unsecured
|
|
F
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2020 – 2028
|
|
4.30%
|
|
508
|
|
2,045
|
1,253
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cellcom
|
|
Unsecured
|
|
B
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2013 – 2017
|
|
5.30%
|
|
185
|
|
891
|
880
|
|
Cellcom
|
|
Unsecured
|
|
D
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2013 – 2017
|
|
5.19%
|
|
599
|
|
2,894
|
2,865
|
|
Cellcom
|
|
Unsecured
|
|
E
|
|
NIS
|
|
Fixed
|
|
N/A
|
|
2012 – 2017
|
|
6.25%
|
|
164
|
|
672
|
673
|
|
Cellcom
|
|
Unsecured
|
|
F
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2017 – 2020
|
|
4.60%
|
|
715
|
|
3,060
|
3,032
|
|
Cellcom
|
|
Unsecured
|
|
G
|
|
NIS
|
|
Fixed
|
|
N/A
|
|
2017 – 2019
|
|
6.99%
|
|
285
|
|
1,235
|
1,230
|
|
Cellcom
|
|
Unsecured
|
|
H
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2018 – 2024
|
|
1.98%
|
|
950
|
|
3,512
|
3,483
|
|
Cellcom
|
|
Unsecured
|
|
I
|
|
NIS
|
|
Fixed
|
|
N/A
|
|
2018 – 2025
|
|
4.14%
|
|
1,207
|
|
4,795
|
3,114
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PBC
|
|
Unsecured
|
|
C
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2009 – 2017
|
|
5%
|
|
550
|
|
2,691
|
2,666
|
|
PBC
|
|
Unsecured
|
|
D
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2020 – 2025
|
|
4.95%
|
|
1,317
|
|
6,582
|
6,641
|
|
PBC
|
|
Unsecured
|
|
F
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2015 – 2023
|
|
4.95%
|
|
974
|
|
4,146
|
4,195
|
|
PBC
|
|
Unsecured
|
|
G
|
|
NIS
|
|
Fixed
|
|
N/A
|
|
2015 – 2025
|
|
7.05%
|
|
669
|
|
2,989
|
3,054
|
|
PBC
|
|
Unsecured
|
|
Gav-Yam
Series E
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2014 – 2018
|
|
4.55%
|
|
283
|
|
1,386
|
1,375
|
|
PBC
|
|
Unsecured
|
|
Gav-Yam
Series F
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2021 – 2026
|
|
4.75%
|
|
1,585
|
|
8,621
|
8,535
|
|
PBC
|
|
Unsecured
|
|
Gav-Yam
Series G
|
|
NIS
|
|
Fixed
|
|
N/A
|
|
2013 – 2017
|
|
6.41%
|
|
215
|
|
882
|
907
|
|
PBC
|
|
Unsecured
|
|
Ispro
Series B
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2007 – 2021
|
|
5.40%
|
|
255
|
|
1,306
|
1,293
|
Total
Non-convertible notes
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
77,288
|
74,223
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank loans
|
IDBD
|
|
Unsecured
|
|
-
|
|
NIS
|
|
Floating
|
|
Prime
interest rate
|
|
2015 – 2018
|
|
Prime + 1.3%
|
|
333
|
|
1,160
|
1,117
|
|
IDBD
|
|
Unsecured
|
|
-
|
|
NIS
|
|
Floating
|
|
Prime
interest rate
|
|
2015 – 2019
|
|
Prime + 1%
|
|
80
|
|
276
|
265
|
|
IDBD
|
|
Unsecured
|
|
-
|
|
NIS
|
|
Floating
|
|
Prime
interest rate
|
|
2015 – 2020
|
|
Prime
+ 0.65%
|
|
56
|
|
179
|
198
|
|
IDBD
|
|
Secured (1)
|
|
-
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2015 – 2018
|
|
6.90%
|
|
150
|
|
631
|
634
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIC
|
|
Unsecured
|
|
-
|
|
NIS
|
|
Fixed
|
|
N/A
|
|
2015 – 2017
|
|
5.39%
|
|
-
|
|
136
|
167
|
|
DIC
|
|
Unsecured
|
|
-
|
|
NIS
|
|
Floating
|
|
Prime
interest rate
|
|
2015 – 2018
|
|
2.12%
|
|
-
|
|
350
|
397
|
|
DIC
|
|
Unsecured
|
|
-
|
|
NIS
|
|
Fixed
|
|
N/A
|
|
2015 – 2018
|
|
5.90%
|
|
-
|
|
284
|
311
|
|
DIC
|
|
Unsecured
|
|
-
|
|
NIS
|
|
Fixed
|
|
Prime
interest rate
|
|
2015 – 2018
|
|
2.20%
|
|
-
|
|
272
|
296
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shufersal
|
|
Secured
|
|
-
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2015 – 2017
|
|
4.95%
|
|
1
|
|
3
|
4
|
|
Shufersal
|
|
Secured
|
|
-
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2015 – 2017
|
|
4.95%
|
|
1
|
|
2
|
3
|
|
Shufersal
|
|
Secured
|
|
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2015 – 2017
|
|
4.75%
|
|
-
|
|
2
|
2
|
|
Shufersal
|
|
Secured
|
|
-
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2015 – 2017
|
|
4.40%
|
|
-
|
|
2
|
2
|
|
Shufersal
|
|
Secured
|
|
-
|
|
NIS
|
|
Fixed
|
|
CPI
|
|
2015 – 2017
|
|
3.25%
|
|
1
|
|
4
|
5
|
|
|
Operations Center in Israel
|
|||||||||||||||||||||
|
Company
|
|
Secured / Unsecured
|
|
Series
|
|
Currency
|
|
Interest rate %
|
|
Adjustment factor
|
|
Payment date of principal
|
|
Interest rate %
|
|
Capital nominal value in million Issue currency
|
|
Value as of
September 30,
2016
|
Value as of
June 30,
2016
|
|||
|
PBC
|
|
Unsecured
|
|
-
|
|
NIS
|
|
Floating
|
|
CPI
|
|
2015 – 2020
|
|
1.97%
|
|
-
|
|
147
|
154
|
|||
|
PBC
|
|
Unsecure
|
|
-
|
|
NIS
|
|
Floating
|
|
CPI
|
|
2020
|
|
2.65%
|
|
-
|
|
314
|
311
|
|||
|
PBC
|
|
Unsecured
|
|
-
|
|
NIS
|
|
Fixed
|
|
N/A
|
|
2015 – 2020
|
|
3.07%
|
|
-
|
|
70
|
76
|
|||
|
PBC
|
|
Unsecured
|
|
-
|
|
NIS
|
|
Fixed
|
|
N/A
|
|
2016
|
|
1.70%
|
|
-
|
|
-
|
1,176
|
|||
|
PBC
|
|
Secured
|
|
-
|
|
NIS
|
|
Floating
|
|
CPI
|
|
2011 – 2018
|
|
1.55%
|
|
-
|
|
261
|
286
|
|||
|
PBC
|
|
Unsecured
|
|
-
|
|
NIS
|
|
Floating
|
|
CPI
|
|
2002 – 2019
|
|
1.73%
|
|
-
|
|
330
|
327
|
|||
|
PBC
|
|
Secured
|
|
-
|
|
NIS
|
|
Floating
|
|
CPI
|
|
2008 – 2016
|
|
1.95%
|
|
-
|
|
16
|
32
|
|||
|
PBC
|
|
Secured
|
|
-
|
|
NIS
|
|
Floating
|
|
CPI
|
|
2015 – 2023
|
|
1.87%
|
|
-
|
|
398
|
409
|
|||
|
PBC
|
|
Secured
|
|
-
|
|
NIS
|
|
Floating
|
|
CPI
|
|
2014 – 2022
|
|
1.77%
|
|
-
|
|
313
|
323
|
|||
|
PBC
|
|
Secured
|
|
-
|
|
NIS
|
|
Floating
|
|
CPI
|
|
2013 – 2021
|
|
1.87%
|
|
-
|
|
210
|
219
|
|||
|
PBC
|
|
Secured
|
|
-
|
|
NIS
|
|
Floating
|
|
CPI
|
|
2015 – 2022
|
|
1.86%
|
|
-
|
|
159
|
165
|
|||
|
PBC
|
|
Secured
|
|
-
|
|
NIS
|
|
Floating
|
|
CPI
|
|
2011 – 2019
|
|
1.26%
|
|
-
|
|
137
|
149
|
|||
|
PBC
|
|
Secured
|
|
-
|
|
NIS
|
|
Floating
|
|
CPI
|
|
2009 – 2017
|
|
1.80%
|
|
-
|
|
29
|
36
|
|||
|
PBC
|
|
Secured
|
|
-
|
|
NIS
|
|
Floating
|
|
CPI
|
|
2022
|
|
1.88%
|
|
-
|
|
367
|
366
|
|||
|
PBC
|
|
Secured
|
|
-
|
|
NIS
|
|
Fixed
|
|
N/A
|
|
2016 – 2016
|
|
1.26%
|
|
-
|
|
155
|
156
|
|||
|
PBC
|
|
Secured
|
|
-
|
|
NIS
|
|
Floating
|
|
CPI
|
|
2015 – 2020
|
|
1.57%
|
|
-
|
|
81
|
85
|
|||
|
PBC
|
|
Secured
|
|
-
|
|
NIS
|
|
Floating
|
|
CPI
|
|
2020
|
|
2.14%
|
|
-
|
|
189
|
188
|
|||
|
PBC
|
|
Unsecured
|
|
-
|
|
NIS
|
|
Floating
|
|
CPI
|
|
2009 – 2016
|
|
12.16%
|
|
-
|
|
5
|
11
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
Bartan
|
|
Unsecured
|
|
-
|
|
NIS
|
|
Floating
|
|
Prime
interest rate
|
|
2015 – 2022
|
|
2.35%
|
|
-
|
|
4
|
8
|
|||
|
Bartan
|
|
Secured
|
|
|
|
NIS
|
|
Floating
|
|
Prime
interest rate
|
|
2022
|
|
2.89%
|
|
-
|
|
19
|
19
|
|||
|
Bartan
|
|
Secured
|
|
-
|
|
NIS
|
|
Floating
|
|
Prime
interest rate
|
|
2022
|
|
2.95%
|
|
-
|
|
16
|
16
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
IDB Tourism
|
|
Unsecured
|
|
-
|
|
US$
|
|
Floating
|
|
Libor
interest rate
|
|
|
|
5.66%
|
|
13
|
|
47
|
51
|
|||
|
IDB Tourism
|
|
Unsecured
|
|
-
|
|
US$
|
|
Floating
|
|
Libor
interest rate
|
|
2015 – 2018
|
|
5.21%
|
|
197
|
|
568
|
767
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
IDBG
|
|
Unsecured
|
|
-
|
|
US$
|
|
Floating
|
|
Libor
interest rate
|
|
2015 - 2015
|
|
Libor + 5%
|
|
227
|
|
882
|
869
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
Cellcom
|
|
Unsecured
|
|
-
|
|
NIS
|
|
Fixed
|
|
N/A
|
|
2016
– 2021
|
|
4.60%
|
|
200
|
|
778
|
778
|
|||
Total bank loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,796
|
10,378
|
|||
Bank overdrafts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
109
|
292
|
|||
Non-recourse loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,107
|
16,975
|
|||
Others
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,965
|
1,834
|
|||
Subtotal Operations Center in Israel
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
94,265
|
103,702
|
|
September
30,
2016
|
|
September
30,
2015
|
Current
income tax
|
(212)
|
|
(111)
|
Deferred income
tax
|
184
|
|
19
|
Income
tax expense
|
(28)
|
|
(92)
|
Tax jurisdiction
|
|
Income tax rate
|
Argentina
|
|
35%
|
Brazil
|
|
between
25% - 34%
|
Uruguay
|
|
between
0% - 25%
|
Bolivia
|
|
25%
|
United
States
|
|
between
0% - 45%
|
Bermudas
|
|
0%
|
Israel
|
|
26.5%
|
|
September
30,
2016
|
|
June
30,
2016
|
Beginning
of the period / year
|
(6,007)
|
|
501
|
Currency
translation adjustment
|
(4)
|
|
(2,225)
|
Reserve
for changes in non-controlling interest
|
-
|
|
(88)
|
Use of
tax loss carry-forwards
|
-
|
|
(366)
|
Charged
/ Credited to the income
|
184
|
|
852
|
Business
combinations
|
(1)
|
|
(4,681)
|
End
of the period / year
|
(5,828)
|
|
(6,007)
|
|
September
30,
2016
|
|
September
30,
2015
|
Tax
calculated at the tax rates applicable to profits in the respective
countries
|
248
|
|
158
|
Permanent
differences:
|
|
|
|
Share
of loss of associates and joint ventures
|
(104)
|
|
(230)
|
Unrecognized tax
losses
|
10
|
|
(2)
|
Non-taxable
income
|
(180)
|
|
1
|
Non-deductible
expenses
|
(1)
|
|
(11)
|
Others
|
(1)
|
|
(8)
|
Income
tax expense
|
(28)
|
|
(92)
|
|
Cost
of treasury shares
|
Changes
in non-controlling interest
|
Reserve
for
cumulative
translation adjustment
|
Reserve
for
share
based compensation
|
Reserve
for future dividends
|
Reserve
for defined benefit plans
|
Reserve
for the acquisition of securities issued by the
Company
|
Total
other
reserves
|
Balance
as of June 30, 2016
|
(32)
|
160
|
806
|
95
|
31
|
(6)
|
32
|
1,086
|
Adjustment due to
change to accounting standards
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Balances
adjusted as of June 30, 2016
|
(32)
|
160
|
806
|
95
|
31
|
(6)
|
32
|
1,086
|
Other
comprehensive income for the period
|
-
|
-
|
330
|
-
|
-
|
10
|
-
|
340
|
Total
comprehensive income for the period
|
-
|
-
|
330
|
-
|
-
|
10
|
-
|
340
|
Appropriation
of retained earnings resolved by Shareholders’ Meeting held
on October 30 and November 26, 2015:
|
|
|
|
|
|
|
|
|
Equity-settled
compensation
|
-
|
-
|
-
|
3
|
-
|
-
|
-
|
3
|
Changes
in non-controlling interest
|
-
|
(185)
|
-
|
-
|
-
|
-
|
-
|
(185)
|
Balance
as of September 30, 2016
|
(32)
|
(25)
|
1,136
|
98
|
31
|
4
|
32
|
1,244
|
|
Cost
of
treasury
shares
|
Changes
In
non-controlling interest
|
Reserve
for cumulative translation adjustment
|
Reserve
for share based compensation
|
Reserve
for the acquisition of securities issued by the
Company
|
Total
other reserves
|
Balance
as of June 30, 2015
|
(32)
|
54
|
463
|
82
|
32
|
599
|
Adjustment due to
change to accounting standards
|
|
-
|
(1)
|
-
|
-
|
(1)
|
Balances
adjusted as of June 30, 2015
|
(32)
|
54
|
462
|
82
|
32
|
598
|
Other comprehensive
loss for the period
|
-
|
-
|
(107)
|
|
-
|
(107)
|
Total
comprehensive loss for the period
|
-
|
-
|
(107)
|
|
-
|
(107)
|
Equity
incentive plan granted
|
-
|
-
|
-
|
(3)
|
-
|
(3)
|
Equity-settled
compensation
|
-
|
-
|
-
|
5
|
-
|
5
|
Changes in
non-controlling interest
|
|
(5)
|
-
|
-
|
-
|
(5)
|
Balance as of September 30, 2015
|
(32)
|
49
|
355
|
84
|
32
|
488
|
|
September
30,
2016
|
|
September
30,
2015
|
Sale of
trading properties
|
221
|
|
1
|
Crops
|
316
|
|
263
|
Cattle
|
30
|
|
45
|
Dairy
|
20
|
|
17
|
Sugarcane
|
162
|
|
102
|
Supplies
|
35
|
|
14
|
Beef
|
330
|
|
190
|
Sale of
communication equipment
|
959
|
|
-
|
Revenue
from supermarkets
|
11,535
|
|
-
|
Sales revenues
|
13,608
|
|
632
|
Consignment
revenues
|
127
|
|
7
|
Rental
and service incomes
|
1,947
|
|
840
|
Income
from hotel services
|
184
|
|
111
|
Income
from communication services
|
2,942
|
|
-
|
Income
from tourism services
|
900
|
|
-
|
Agricultural
rental and services
|
2
|
|
4
|
Commissions
|
30
|
|
28
|
Others
|
10
|
|
2
|
Services income
|
6,142
|
|
992
|
Total revenues
|
19,750
|
|
1,624
|
|
September
30,
2016
|
|
September
30,
2015
|
Cost of
leases and services
|
-
|
|
2
|
Other
operative costs
|
3
|
|
2
|
Cost
of property operations
|
3
|
|
4
|
Crops
|
505
|
|
302
|
Cattle
|
102
|
|
76
|
Dairy
|
42
|
|
34
|
Sugarcane
|
241
|
|
144
|
Supplies
|
26
|
|
12
|
Beef
|
294
|
|
170
|
Agricultural rental
and services
|
2
|
|
3
|
Consignment
costs
|
3
|
|
1
|
Commissions
|
3
|
|
2
|
Brokerage
operations
|
19
|
|
8
|
Others
|
12
|
|
2
|
Costs
of agricultural sales and services
|
1,249
|
|
754
|
Costs
of leases and services
|
876
|
|
350
|
Costs
of trading properties and developments
|
5
|
|
5
|
Costs
from hotel operations
|
128
|
|
82
|
Costs
of sale of communication equipment
|
1,966
|
|
-
|
Costs
of communication services
|
642
|
|
-
|
Costs
of tourism services
|
815
|
|
-
|
Costs
of supermarkets
|
8,615
|
|
-
|
Costs
of sale and developments
|
220
|
|
-
|
Total
costs
|
14,519
|
|
1,195
|
|
September
30,
2016
|
|
September
30,
2015
|
Leases, services
charges and vacant property costs
|
76
|
|
8
|
Depreciation and
amortization
|
1,442
|
|
70
|
Doubtful
accounts
|
47
|
|
7
|
Advertising,
publicity and other selling expenses
|
444
|
|
65
|
Taxes, rates and
contributions
|
262
|
|
83
|
Maintenance and
repairs
|
591
|
|
130
|
Fees and payments
for services
|
1,043
|
|
94
|
Director´s
fees
|
51
|
|
47
|
Payroll and social
security liabilities
|
2,636
|
|
295
|
Cost of sale of
goods and services
|
9,144
|
|
1
|
Food, beverage and
other lodging expenses
|
-
|
|
21
|
Changes in
biological assets and agricultural produce
|
697
|
|
434
|
Supplies and
labor
|
329
|
|
182
|
Freights
|
77
|
|
33
|
Commissions and
expenses
|
9
|
|
10
|
Conditioning and
clearance
|
14
|
|
10
|
Travel and library
expenses
|
6
|
|
13
|
Export
expenses
|
-
|
|
24
|
Others
|
2,104
|
|
9
|
Total
|
18,972
|
|
1,536
|
|
Group
costs
|
|
|
|
||||||||||
|
Cost
of agricultural sales and services
|
Cost
of agriculture production
|
Other
agricultural operative costs
|
Cost
of leases and services
|
Cost
of trading properties and developments
|
Cost
of
hotel
operations
|
Cost
of sale of communication equipment
|
Cost
of communication services
|
Cost
of tourism services
|
Cost
of supermarkets
|
Total
costs
|
General
and administrative expenses
|
Selling
expenses
|
Total
|
Leases,
services charges and vacant property costs
|
2
|
-
|
-
|
8
|
1
|
-
|
-
|
-
|
60
|
-
|
71
|
3
|
2
|
76
|
Depreciation
and amortization
|
26
|
6
|
1
|
268
|
-
|
2
|
-
|
440
|
41
|
49
|
833
|
123
|
486
|
1,442
|
Doubtful
accounts
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
33
|
14
|
47
|
Advertising,
publicity and other selling expenses
|
-
|
-
|
-
|
75
|
-
|
-
|
-
|
-
|
-
|
-
|
75
|
-
|
369
|
444
|
Taxes,
rates and contributions
|
1
|
4
|
-
|
49
|
1
|
-
|
-
|
-
|
-
|
-
|
55
|
5
|
202
|
262
|
Maintenance
and repairs
|
6
|
10
|
-
|
306
|
3
|
23
|
-
|
-
|
60
|
-
|
408
|
18
|
165
|
591
|
Fees
and payments for services
|
71
|
1
|
-
|
15
|
-
|
5
|
-
|
381
|
-
|
-
|
473
|
161
|
409
|
1,043
|
Director´s
fees
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
51
|
-
|
51
|
Payroll
and social security liabilities
|
53
|
27
|
2
|
155
|
-
|
70
|
-
|
228
|
60
|
299
|
894
|
419
|
1,323
|
2,636
|
Cost of
sale of goods and services
|
-
|
-
|
-
|
-
|
220
|
4
|
642
|
11
|
-
|
8,267
|
9,144
|
-
|
-
|
9,144
|
Changes
in biological assets and agricultural produce
|
696
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
696
|
-
|
1
|
697
|
Supplies
and labor
|
41
|
288
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
329
|
-
|
-
|
329
|
Freights
|
-
|
6
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
6
|
-
|
71
|
77
|
Bank
commissions and expenses
|
4
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
4
|
2
|
3
|
9
|
Conditioning
and clearance
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
14
|
14
|
Travel
and library expenses
|
2
|
2
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
4
|
2
|
-
|
6
|
Others
|
3
|
-
|
-
|
2
|
-
|
22
|
-
|
906
|
594
|
-
|
1,527
|
205
|
372
|
2,104
|
Total expenses by nature
|
905
|
344
|
3
|
878
|
225
|
126
|
642
|
1,966
|
815
|
8,615
|
14,519
|
1,022
|
3,431
|
18,972
|
|
Group
costs
|
|
|
|
|
|
|
||||||||||||
|
Cost
of
agricultural
sales and services
|
|
Cost
of agriculture production
|
|
Other
agricultural operative costs
|
|
Cost
of property operations
|
|
Cost
of trading properties and developments
|
|
Cost
of hotel operations
|
|
Total
costs
|
|
General
and administrative expenses
|
|
Selling
expenses
|
|
Total
|
Leases,
services charges and vacant property costs
|
1
|
|
-
|
|
-
|
|
5
|
|
-
|
|
-
|
|
6
|
|
2
|
|
-
|
|
8
|
Depreciation
and amortization
|
10
|
|
3
|
|
1
|
|
50
|
|
-
|
|
3
|
|
67
|
|
3
|
|
-
|
|
70
|
Doubtful
accounts
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
7
|
|
7
|
Advertising,
publicity and other selling expenses
|
-
|
|
-
|
|
-
|
|
53
|
|
-
|
|
2
|
|
55
|
|
-
|
|
10
|
|
65
|
Taxes,
rates and contributions
|
1
|
|
3
|
|
-
|
|
27
|
|
1
|
|
-
|
|
32
|
|
5
|
|
46
|
|
83
|
Maintenance
and repairs
|
4
|
|
5
|
|
-
|
|
98
|
|
2
|
|
10
|
|
119
|
|
11
|
|
-
|
|
130
|
Fees
and payments for services
|
48
|
|
1
|
|
-
|
|
1
|
|
-
|
|
-
|
|
50
|
|
41
|
|
3
|
|
94
|
Director´s
fees
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
47
|
|
-
|
|
47
|
Payroll
and social security liabilities
|
32
|
|
20
|
|
1
|
|
110
|
|
-
|
|
49
|
|
212
|
|
71
|
|
12
|
|
295
|
Cost of
sale of goods and services
|
-
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
|
1
|
|
-
|
|
-
|
|
1
|
Food,
beverage and other lodging expenses
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
18
|
|
18
|
|
2
|
|
1
|
|
21
|
Changes
in biological assets and agricultural produce
|
434
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
434
|
|
-
|
|
-
|
|
434
|
Supplies
and labor
|
7
|
|
174
|
|
-
|
|
-
|
|
-
|
|
-
|
|
181
|
|
-
|
|
1
|
|
182
|
Freights
|
-
|
|
3
|
|
-
|
|
1
|
|
-
|
|
-
|
|
4
|
|
-
|
|
29
|
|
33
|
Commissions
and expenses
|
2
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
2
|
|
6
|
|
2
|
|
10
|
Conditioning
and clearance
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
10
|
|
10
|
Travel
and library expenses
|
4
|
|
3
|
|
-
|
|
3
|
|
-
|
|
-
|
|
10
|
|
3
|
|
-
|
|
13
|
Export
expenses
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
24
|
|
24
|
Others
|
2
|
|
-
|
|
-
|
|
2
|
|
-
|
|
-
|
|
4
|
|
3
|
|
2
|
|
9
|
Total expenses by nature
|
545
|
|
212
|
|
2
|
|
350
|
|
4
|
|
82
|
|
1,195
|
|
194
|
|
147
|
|
1,536
|
|
September 30,
2016
|
|
September 30,
2015
|
Gain from commodity
derivative financial instruments
|
52
|
|
25
|
Tax on personal
assets
|
(1)
|
|
(3)
|
Loss from disposal
of other property items
|
-
|
|
(6)
|
Consulting
fees
|
-
|
|
1
|
Contingencies
(i)
|
(8)
|
|
(1)
|
Donations
|
(11)
|
|
(4)
|
Unrecoverable
VAT
|
-
|
|
(1)
|
Others
|
(53)
|
|
-
|
Total
other operating results, net
|
(21)
|
|
11
|
|
September 30,
2016
|
|
September 30,
2015
|
Financial
income
|
|
|
|
Interest
income
|
227
|
|
31
|
Foreign exchange
gains
|
59
|
|
52
|
Dividends
income
|
24
|
|
4
|
Other financial
income
|
101
|
|
-
|
Financial
income
|
411
|
|
87
|
Financial
costs
|
|
|
|
Interest
expense
|
(1,878)
|
|
(254)
|
Foreign exchange
losses
|
(272)
|
|
(225)
|
Other financial
costs
|
(146)
|
|
(33)
|
Total
financial costs
|
(2,296)
|
|
(512)
|
Other
financial results:
|
|
|
|
- Fair value gain /
(loss) of financial assets and liabilities at fair value through
profit or loss
|
277
|
|
(234)
|
Gain from
repurchase of Non-convertible Notes
|
1
|
|
-
|
Gain from
derivative financial instruments (except commodities)
|
33
|
|
198
|
Gain on the
revaluation of receivables arising from the sale of
farmland
|
9
|
|
14
|
Total
other financial results
|
320
|
|
(22)
|
Total
financial results, net
|
(1,565)
|
|
(447)
|
Related
party
|
|
Description of
transaction
|
|
Investment
in financial assets
Non-current
|
|
Investment
in financial assets
Current
|
|
Trade
and other receivables Non-current
|
|
Trade
and other receivables Current
|
|
Trade
and other payables
Non-current
|
|
Trade
and other payables Current
|
|
Borrowings
Non-current
|
|
Borrowings
Current
|
Associates
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tarshop
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
2
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
Commissions per
supermarket aisle
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
Leases
and/or rights of use
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(2)
|
|
-
|
|
-
|
New
Lipstick
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
4
|
|
-
|
|
-
|
|
-
|
|
-
|
Lipstick
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
|
-
|
Adama
|
|
Services
|
|
-
|
|
-
|
|
-
|
|
2
|
|
|
|
|
|
|
|
|
Agro-Uranga
S.A.
|
|
Commodity
derivative financial instruments
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
-
|
|
-
|
Agrofy
S.A.
|
|
Other
receivables
|
|
-
|
|
-
|
|
-
|
|
15
|
|
-
|
|
-
|
|
-
|
|
-
|
BHSA
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
2
|
|
-
|
|
(1)
|
|
-
|
|
-
|
|
Borrowings
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
(8)
|
|
BACS
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
Non-convertible
notes
|
|
121
|
|
8
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Total Associates
|
|
|
|
121
|
|
8
|
|
-
|
|
26
|
|
-
|
|
(4)
|
|
(1)
|
|
(8)
|
Related
party
|
|
Description of
transaction
|
|
Investment
in financial assets
Non-current
|
|
Investment
in financial assets
Current
|
|
Trade
and other receivables Non-current
|
|
Trade
and other receivables Current
|
|
Trade
and other payables
Non-current
|
|
Trade
and other payables Current
|
|
Borrowings
Non-current
|
|
Borrowings
Current
|
Joint Ventures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cresca
S.A.
|
|
Loans
granted
|
|
-
|
|
-
|
|
196
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
NPSF
|
|
Borrowings
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(7)
|
|
Share-based
payments
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
Management
fees
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
|
-
|
|
Quality
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
Management
fees
|
|
-
|
|
-
|
|
-
|
|
2
|
|
-
|
|
-
|
|
-
|
|
-
|
Mehadrin
|
|
Commissions
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(4)
|
|
|
|
|
Cyrsa
|
|
Credit
due to capital reduction
|
|
-
|
|
-
|
|
-
|
|
3
|
|
-
|
|
-
|
|
-
|
|
-
|
Total
Joint Ventures
|
|
|
|
-
|
|
-
|
|
196
|
|
8
|
|
-
|
|
(4)
|
|
-
|
|
(7)
|
Other
related parties
|
|
|
|
|
|
|
|
|
|
|
|
-
|
|
|
|
|
|
|
CAMSA
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
9
|
|
-
|
|
(1)
|
|
-
|
|
-
|
Estudio
Zang, Bergel & Viñes
|
|
Legal
services
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
-
|
|
-
|
IFISA
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
Financial
operations
|
|
-
|
|
-
|
|
-
|
|
1,131
|
|
-
|
|
-
|
|
-
|
|
-
|
Museo
de los Niños
|
|
Leases
and/or rights of use
|
|
-
|
|
-
|
|
-
|
|
2
|
|
-
|
|
-
|
|
-
|
|
-
|
Consultores
Venture Capital Uruguay
|
|
Management
fees
|
|
-
|
|
-
|
|
-
|
|
2
|
|
-
|
|
-
|
|
-
|
|
-
|
Total Other related parties
|
|
|
|
-
|
|
-
|
|
-
|
|
1,144
|
|
-
|
|
(2)
|
|
-
|
|
-
|
Directors
and Senior Management
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Directors
and Senior Management
|
|
Fees
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
(55)
|
|
-
|
|
-
|
|
Guarantee
deposits
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
-
|
|
-
|
|
-
|
|
Total
Directors and Senior Management
|
|
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(2)
|
|
(55)
|
|
-
|
|
-
|
Total
|
|
|
|
121
|
|
8
|
|
196
|
|
1,178
|
|
(2)
|
|
(65)
|
|
(1)
|
|
(15)
|
Related
party
|
|
Description of
transaction
|
|
Investment
in financial assets
Non-current
|
|
Investment
in financial assets
Current
|
|
Trade
and other receivables Non-current
|
|
Trade
and other receivables Current
|
|
Trade
and other payables Current
|
|
Borrowings
Non-current
|
|
Borrowings
Current
|
Associates
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tarshop
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
|
|
Leases
and/or rights of use
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
-
|
|
-
|
New
Lipstick
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
4
|
|
-
|
|
-
|
|
-
|
Lipstick
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
Agro-Uranga
S.A
|
|
Dividends
receivables
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
|
Brokerage
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
-
|
|
-
|
|
Agrofy
S.A.
|
|
Other
receivables
|
|
-
|
|
-
|
|
-
|
|
17
|
|
-
|
|
-
|
|
-
|
BHSA
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
1
|
|
(1)
|
|
-
|
|
-
|
|
Borrowings
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(2)
|
|
(10)
|
|
BACS
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
|
|
Non-convertible
notes
|
|
100
|
|
21
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Total Associates
|
|
|
|
100
|
|
21
|
|
-
|
|
26
|
|
(3)
|
|
(2)
|
|
(10)
|
Related
party
|
|
Description of
transaction
|
|
Investment
in financial assets
Non-current
|
|
Investment
in financial assets
Current
|
|
Trade
and other receivables Non-current
|
|
Trade
and other receivables Current
|
|
Trade
and other payables Current
|
|
Borrowings
Non-current
|
|
Borrowings
Current
|
Joint Ventures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cresca
S.A.
|
|
Loans
granted
|
|
-
|
|
-
|
|
162
|
|
-
|
|
-
|
|
-
|
|
-
|
Puerto
Retiro
|
|
Borrowings
|
|
-
|
|
-
|
|
-
|
|
3
|
|
-
|
|
-
|
|
-
|
NPSF
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
2
|
|
-
|
|
-
|
|
-
|
|
Borrowings
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(6)
|
|
|
Share
based payments
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
|
|
Management
fees
|
|
-
|
|
-
|
|
-
|
|
4
|
|
-
|
|
-
|
|
-
|
|
Quality
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
Cyrsa
|
|
Credit
due to capital reduction
|
|
-
|
|
-
|
|
-
|
|
3
|
|
-
|
|
-
|
|
-
|
Total
Joint Ventures
|
|
|
|
-
|
|
-
|
|
162
|
|
14
|
|
-
|
|
-
|
|
(6)
|
Other
related parties
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CAMSA
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
9
|
|
-
|
|
-
|
|
-
|
Estudio
Zang, Bergel & Viñes
|
|
Legal
services
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
-
|
|
-
|
IFISA (parent
company)
|
|
Financial
operations
|
|
-
|
|
-
|
|
-
|
|
1,074
|
|
-
|
|
-
|
|
-
|
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
12
|
|
-
|
|
-
|
|
-
|
Museo
de los Niños
|
|
Leases
and/or rights of use
|
|
-
|
|
-
|
|
-
|
|
2
|
|
-
|
|
-
|
|
-
|
BNSA
|
|
Reimbursement of
expenses
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
OASA
|
|
Borrowings
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
Consultores Venture
Capital Uruguay
|
|
Management
fees
|
|
-
|
|
-
|
|
-
|
|
2
|
|
-
|
|
-
|
|
-
|
Total Other related parties
|
|
|
|
-
|
|
-
|
|
-
|
|
1,101
|
|
(1)
|
|
-
|
|
-
|
Directors
and Senior Management
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Directors
and Senior Management
|
|
Fees
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(29)
|
|
-
|
|
-
|
|
Advances
|
|
-
|
|
-
|
|
-
|
|
4
|
|
-
|
|
-
|
|
-
|
|
Total
Directors and Senior Management
|
|
|
|
-
|
|
-
|
|
-
|
|
4
|
|
(29)
|
|
-
|
|
-
|
Total
|
|
|
|
100
|
|
21
|
|
162
|
|
1,145
|
|
(33)
|
|
(2)
|
|
(16)
|
Related
party
|
|
Leases
and/or rights to use
|
|
Administration
and management fees
|
|
Sale of
goods and/or services
|
|
Compensation
of Directors and senior management
|
|
Legal
services
|
|
Financial
operations
|
|
Donations
|
Associates
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tarshop
|
|
4
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
BACS
|
|
2
|
|
-
|
|
-
|
|
-
|
|
-
|
|
8
|
|
-
|
BHSA
|
|
1
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
-
|
Agro-Uranga
S.A.
|
|
-
|
|
-
|
|
3
|
|
|
|
-
|
|
-
|
|
-
|
Agrofy
S.A.
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
Adama
|
|
-
|
|
-
|
|
51
|
|
-
|
|
-
|
|
-
|
|
-
|
Total Associates
|
|
7
|
|
1
|
|
54
|
|
-
|
|
-
|
|
8
|
|
-
|
Joint Ventures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cyrsa
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
-
|
NPSA
|
|
(1)
|
|
1
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Total Joint Ventures
|
|
(1)
|
|
1
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
-
|
Other related parties
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fundación
IRSA
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(2)
|
Estudio
Zang, Bergel & Viñes
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(3)
|
|
-
|
|
-
|
Condor
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
115
|
|
-
|
LRSA
|
|
5
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
IFISA
(parent company)
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
24
|
|
-
|
Total Other related parties
|
|
5
|
|
-
|
|
-
|
|
-
|
|
(3)
|
|
139
|
|
(2)
|
Directors and Senior Management
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Directors
|
|
-
|
|
-
|
|
-
|
|
(51)
|
|
-
|
|
-
|
|
-
|
Senior
Management
|
|
-
|
|
-
|
|
-
|
|
(5)
|
|
-
|
|
-
|
|
-
|
Total Directors and Senior Management
|
|
-
|
|
-
|
|
-
|
|
(56)
|
|
-
|
|
-
|
|
-
|
Total
|
|
11
|
|
2
|
|
54
|
|
(56)
|
|
(3)
|
|
146
|
|
(2)
|
Related
party
|
|
Leases
and/or rights to use
|
|
Administration
and management fees
|
|
Sale of
goods
and/or
services
|
|
Compensation
of Directors and senior management
|
|
Legal
services
|
|
Financial
operations
|
Associates
|
|
|
|
|
|
|
|
|
|
|
|
|
Agro-Uranga
S.A.
|
|
-
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
Tarshop
|
|
3
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
BACS
|
|
1
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
BHSA
|
|
1
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1)
|
Total Associates
|
|
5
|
|
-
|
|
1
|
|
-
|
|
-
|
|
(1)
|
Joint Ventures
|
|
|
|
|
|
|
|
|
|
|
|
|
Cyrsa
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1)
|
NPSA
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
|
-
|
Total Joint Ventures
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
|
(1)
|
Other related parties
|
|
|
|
|
|
|
|
|
|
|
|
|
CAMSA
|
|
-
|
|
(12)
|
|
-
|
|
-
|
|
-
|
|
-
|
Estudio
Zang, Bergel & Viñes
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(2)
|
|
-
|
Condor
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(126)
|
IFISA
(parent company)
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
2
|
Total Other related parties
|
|
-
|
|
(12)
|
|
-
|
|
-
|
|
(2)
|
|
(124)
|
Directors and Senior Management
|
|
|
|
|
|
|
|
|
|
|
|
|
Directors
|
|
-
|
|
-
|
|
-
|
|
(39)
|
|
-
|
|
-
|
Senior
Management
|
|
-
|
|
-
|
|
-
|
|
(3)
|
|
-
|
|
-
|
Total Directors and Senior Management
|
|
-
|
|
-
|
|
-
|
|
(42)
|
|
-
|
|
-
|
Total
|
|
5
|
|
(11)
|
|
1
|
|
(42)
|
|
(2)
|
|
(126)
|
Description
|
Biological assets
|
Inventories
|
Agricultural services
|
Services and other operating costs
|
Trading properties
|
Hotels
|
Mobile phones
|
Supermarkets
|
Properties
|
Others
|
Total as of 09.30.16
|
Total as of 09.30.15
|
Inventories as of 06.30.16
|
567
|
650
|
-
|
-
|
251
|
8
|
327
|
2,865
|
4,460
|
27
|
(i) 9,155
|
(ii) 1,030
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisition for business combination
|
|
|
|
|
|
|
|
|
|
|
|
|
Initial recognition and changes in the fair value of biological
assets and agricultural produce at the point of
harvest
|
73
|
23
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
96
|
40
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in the net realizable value of agricultural produce after
harvest
|
-
|
(97)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(97)
|
(9)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Harvest
|
-
|
580
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
580
|
171
|
Acquisitions and classifications
|
12
|
493
|
-
|
-
|
-
|
-
|
586
|
7,835
|
11
|
-
|
8,937
|
337
|
Consume
|
-
|
(135)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(135)
|
(86)
|
Additions
|
-
|
-
|
-
|
-
|
3
|
-
|
-
|
-
|
228
|
-
|
231
|
-
|
Transfers
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(4)
|
(4)
|
-
|
Expenses incurred
|
-
|
77
|
2
|
470
|
4
|
117
|
1,955
|
347
|
392
|
841
|
4,205
|
477
|
Currency translation adjustment
|
-
|
14
|
-
|
-
|
14
|
-
|
-
|
23
|
2
|
-
|
53
|
(12)
|
Inventories as of 09.30.16
|
(604)
|
(750)
|
-
|
-
|
(270)
|
(9)
|
(260)
|
(2,455)
|
(4,480)
|
(24)
|
(iii) (8,852)
|
(iv) (967)
|
Costs as of 09.30.16
|
48
|
855
|
2
|
470
|
2
|
116
|
2,608
|
8,615
|
613
|
840
|
14,169
|
-
|
Costs as of 09.30.15
|
48
|
479
|
17
|
350
|
5
|
82
|
-
|
-
|
-
|
-
|
-
|
981
|
Items (3)
|
|
Amount of foreign currency (2)
|
|
Prevailing exchange rate (1)
|
|
Total as of 09.30.16
|
|
Amount
of foreign currency (2)
|
|
Prevailing exchange rate (1)
|
|
Total as of 06.30.16
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade and other receivables
|
|
|
|
|
|
|
|
|
|
|
|
|
Uruguayan Peso
|
|
-
|
|
-
|
|
-
|
|
3
|
|
0.334
|
|
1
|
US Dollar
|
|
70
|
|
15.210
|
|
1,068
|
|
43
|
|
14.940
|
|
637
|
Euros
|
|
8
|
|
16.492
|
|
140
|
|
12
|
|
16.492
|
|
195
|
Trade and other receivables related parties
|
|
|
|
|
|
|
|
|
|
|
|
|
US Dollar
|
|
46
|
|
15.310
|
|
705
|
|
42
|
|
15.040
|
|
635
|
Total trade and other receivables
|
|
|
|
|
|
1,913
|
|
|
|
|
|
1,468
|
Investment in financial assets
|
|
|
|
|
|
|
|
|
|
|
|
|
US Dollar
|
|
185
|
|
15.210
|
|
2,808
|
|
166
|
|
14.940
|
|
2,477
|
Pounds
|
|
1
|
|
19.718
|
|
19
|
|
1
|
|
19.763
|
|
19
|
Investment in financial assets
|
|
|
|
|
|
|
|
|
|
|
|
|
US Dollar
|
|
40
|
|
15.210
|
|
614
|
|
33
|
|
14.940
|
|
499
|
Total Investment in financial assets
|
|
|
|
|
|
3,441
|
|
|
|
|
|
2,995
|
Derivative financial instruments
|
|
|
|
|
|
|
|
|
|
|
|
|
US Dollar
|
|
1
|
|
15.210
|
|
15
|
|
1
|
|
14.940
|
|
15
|
Total derivative financial instruments
|
|
|
|
|
|
15
|
|
|
|
|
|
15
|
Cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
US Dollar
|
|
158
|
|
15.210
|
|
2,403
|
|
84
|
|
14.940
|
|
1,260
|
Euros
|
|
2
|
|
16.492
|
|
36
|
|
4
|
|
16.492
|
|
60
|
Total Cash and cash equivalents
|
|
|
|
|
|
2,439
|
|
|
|
|
|
1,320
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade and other payables
|
|
|
|
|
|
|
|
|
|
|
|
|
New Israel Shekel
|
|
-
|
|
-
|
|
-
|
|
2
|
|
3.892
|
|
7
|
US Dollar
|
|
116
|
|
15.310
|
|
1,780
|
|
100
|
|
15.040
|
|
1,502
|
Euros
|
|
5
|
|
17.063
|
|
93
|
|
3
|
|
16.640
|
|
54
|
Trade and other payables related parties
|
|
|
|
|
|
|
|
|
|
|
|
|
US Dollar
|
|
-
|
|
15.310
|
|
4
|
|
2
|
|
15.040
|
|
31
|
Total trade and other payables
|
|
|
|
|
|
1,877
|
|
|
|
|
|
1,594
|
Borrowings
|
|
|
|
|
|
|
|
|
|
|
|
|
US Dollar
|
|
2,174
|
|
15.310
|
|
33,281
|
|
1,945
|
|
15.040
|
|
29,246
|
Total borrowings
|
|
|
|
|
|
33,281
|
|
|
|
|
|
29,246
|
Derivative financial instruments
|
|
|
|
|
|
|
|
|
|
|
|
|
US Dollar
|
|
-
|
|
-
|
|
-
|
|
1
|
|
15.040
|
|
19
|
Total derivative financial instruments
|
|
|
|
|
|
-
|
|
|
|
|
|
19
|
|
September 30,
2016
|
Property, plant and
equipment
|
12
|
Intangible
assets
|
4
|
Investments in
associates
|
11,450
|
Trade and other
receivables
|
28
|
Cash and cash
equivalents
|
12
|
Total
|
11,506
|
|
September 30,
2016
|
Trade and other
payables
|
31
|
Payroll and social
security expenses
|
8
|
Deferred income tax
liability
|
19
|
Borrowings
|
11,311
|
Total
|
11,369
|
|
September
30,
2016
|
Share of profit of
joint ventures and associates
|
157
|
Profit
from operations before financing and taxation
|
157
|
Finance
costs
|
(515)
|
Financial
results, net
|
(515)
|
Loss
before Income tax
|
(358)
|
Loss
from discontinued operations after taxation
|
(358)
|
Attributable to:
|
|
Equity holders of
the parent
|
(119)
|
Non-controlling
interest
|
(239)
|
Loss per share from discontinued operations attributable to equity
holders of the parent during the period:
|
|
Basic
|
(0.24)
|
Diluted
|
(0.24)
|
Documentation storage provider
|
|
Location
|
Bank S.A.
|
|
Gral. Rivas 401, Avellaneda, Province of Buenos Aires
|
|
|
Ruta Panamericana Km 37,5, Garín, Province of Buenos
Aires
|
|
|
Av. Fleming 2190, Munro, Province of Buenos Aires
|
|
|
Carlos Pellegrini 1401, Avellaneda, Province of Buenos
Aires
|
|
|
|
Iron Mountain Argentina S.A.
|
|
Av. Amancio Alcorta 2482, Autonomous City of Buenos
Aires
|
|
Pedro de Mendoza 2143, Autonomous City of Buenos Aires
|
|
|
Saraza 6135, Autonomous City of Buenos Aires
|
|
|
Azara 1245, Autonomous City of Buenos Aires
|
|
|
Polígono industrial Spegazzini, Autopista Ezeiza Km 45,
Cañuelas, Province of Buenos Aires
|
|
|
|
Cañada de Gomez 3825, Autonomous City of Buenos
Aires
|
PRICE
WATERHOUSE & CO. S.R.L.
(Socio)
|
C.P.C.E.C.A.B.A.
Tº 1 Fº 17
|
Dr.
Carlos Martín Barbafina
Contador
Público (UCA)
C.P.C.E.C.A.B.A.
T° 175 F° 65
|
|
Note
|
09.30.16
|
|
06.30.16
|
ASSETS
|
|
|
|
|
Non-current
assets
|
|
|
|
|
Investment
properties
|
7
|
-
|
|
9
|
Property, plant and
equipment
|
8
|
491
|
|
488
|
Intangible
assets
|
9
|
17
|
|
17
|
Biological
assets
|
10
|
529
|
|
477
|
Investments in
subsidiaries, associates and joint ventures
|
6
|
2,352
|
|
2,563
|
Deferred income tax
assets
|
19
|
821
|
|
757
|
Income tax and
minimum presumed income tax
credits
|
|
50
|
|
50
|
Total
Non-current
assets
|
|
4,260
|
|
4,361
|
Current
assets
|
|
|
|
|
Biological
assets
|
10
|
143
|
|
442
|
Inventories
|
11
|
592
|
|
491
|
Income tax and
minimum presumed income tax
credits…………………………………..
|
|
34
|
|
34
|
Trade and other
receivables
|
13
|
552
|
|
388
|
Derivative
financial instruments
|
12
|
6
|
|
15
|
Investment in
financial assets
|
12
|
16
|
|
22
|
Cash and cash
equivalents
|
14
|
16
|
|
11
|
Total
Current assets
|
|
1,359
|
|
1,403
|
TOTAL
ASSETS
|
|
5,619
|
|
5,764
|
SHAREHOLDERS’
EQUITY
|
|
|
|
|
Share
capital
|
|
495
|
|
495
|
Treasury
shares
|
|
7
|
|
7
|
Inflation
adjustment of share capital and treasury
shares
|
|
65
|
|
65
|
Share
premium
|
|
659
|
|
659
|
Additional paid-in
capital from treasury
shares
|
|
16
|
|
16
|
Special
reserve
|
|
97
|
|
97
|
Legal
reserve
|
|
83
|
|
83
|
Other
reserves
|
20
|
1,149
|
|
989
|
Accumulated
deficit
|
|
(1,874)
|
|
(1,387)
|
TOTAL
SHAREHOLDERS’ EQUITY
|
|
697
|
|
1,024
|
LIABILITIES
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
Trade and other
payables
|
15
|
-
|
|
1
|
Borrowings
|
18
|
3,647
|
|
3,150
|
Provisions
|
17
|
17
|
|
10
|
Total
Non-current liabilities
|
|
3,664
|
|
3,161
|
Current
liabilities
|
|
|
|
|
Trade and other
payables
|
15
|
323
|
|
305
|
Payroll and social
security liabilities
|
16
|
54
|
|
85
|
Borrowings
|
18
|
881
|
|
1,166
|
Derivative
financial instruments
|
12
|
-
|
|
23
|
Total
Current
liabilities
|
|
1,258
|
|
1,579
|
TOTAL
LIABILITIES
|
|
4,922
|
|
4,740
|
TOTAL
SHAREHOLDERS’ EQUITY AND
LIABILITIES
|
|
5,619
|
|
5,764
|
|
Eduardo S.
Elsztain
|
President
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
)
|
|
|
|
Note
|
09.30.16
|
|
09.30.15
|
Revenues
|
21
|
427
|
|
279
|
Costs
|
22
|
(581)
|
|
(326)
|
Initial recognition
and changes in the fair value of biological assets and agricultural
produce at the point of harvest
|
|
237
|
|
107
|
Changes in the net
realizable value of agricultural produce after harvest
|
|
(92)
|
|
(8)
|
Gross
(Loss) / Profit
|
|
(9)
|
|
52
|
Gain from disposal
of
farmlands
|
|
73
|
|
-
|
General and
administrative
expenses
|
23
|
(41)
|
|
(34)
|
Selling
expenses
|
23
|
(100)
|
|
(68)
|
Other operating
results,
net
|
25
|
17
|
|
1
|
Loss
from
operations
|
|
(60)
|
|
(49)
|
Share of loss of
subsidiaries, associates and joint ventures
|
6
|
(368)
|
|
(149)
|
Loss
before financing and taxation
|
|
(428)
|
|
(198)
|
Finance
incomes
|
26
|
12
|
|
2
|
Finance
costs
|
26
|
(160)
|
|
(162)
|
Other financial
results,
net
|
26
|
25
|
|
(3)
|
Financial results,
net
|
26
|
(123)
|
|
(163)
|
Loss
before Income
tax
|
|
(551)
|
|
(361)
|
Income tax
gain
|
19
|
64
|
|
73
|
Loss
for the
period
|
|
(487)
|
|
(288)
|
|
|
|
|
|
|
|
|
|
|
Loss
per share attributable to equity holders of the parent during the
period:
|
|
|
|
|
Basic
|
|
(0.98)
|
|
(0.58)
|
Diluted
|
(i)
|
(0.98)
|
(i)
|
(0.58)
|
|
Eduardo S.
Elsztain
|
President
|
|
)
|
|
|
|
09.30.16
|
|
09.30.15
|
Loss for the
period
|
(487)
|
|
(288)
|
Other
comprehensive income / (loss):
|
|
|
|
Items
that may be reclassified subsequently to profit or
loss:
|
|
|
|
Currency
translation adjustment from subsidiaries, associates and joint
ventures………….
|
330
|
|
(107)
|
Other comprehensive
income from share of changes in subsidiaries’
equity
|
10
|
|
-
|
Other
comprehensive income / (loss) for the period (i)
|
340
|
|
(107)
|
Total
comprehensive loss for the period
|
(147)
|
|
(395)
|
|
Eduardo S.
Elsztain
|
President
|
|
)
|
|
|
|
Share
capital
|
Treasury
shares
|
Inflation
adjustment of share capital and treasury shares (i)
|
Share
premium
|
Additional
paid-in capital from treasury shares
|
Legal
reserve
|
Special
reserve
(ii)
|
Other
reserves
(Note
20)
|
Accumulated
deficit
|
Total
Shareholders’ equity
|
Balance
as of June 30,
2016
|
495
|
7
|
65
|
659
|
16
|
83
|
97
|
989
|
(1,390)
|
1,021
|
Adjustment due to
change to accounting standards (iii)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
3
|
3
|
Adjusted
balance as of September 30, 2016
|
495
|
7
|
65
|
659
|
16
|
83
|
97
|
989
|
(1,387)
|
1,024
|
Loss for the
period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(487)
|
(487)
|
Other comprehensive
income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
340
|
-
|
340
|
Total
comprehensive income for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
340
|
(487)
|
(147)
|
Equity-settled
compensation
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
3
|
-
|
3
|
Tender offer to
non-controlling shareholders
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(183)
|
-
|
(183)
|
Balance
as of September 30, 2016
|
495
|
7
|
65
|
659
|
16
|
83
|
97
|
1,149
|
(1,874)
|
697
|
|
Eduardo S.
Elsztain
|
President
|
)
|
|
Share
capital
|
Treasury
shares
|
Inflation
adjustment of share capital and treasury shares (i)
|
Share
premium
|
Additional
paid-in capital from treasury shares
|
Special
reserve
(ii)
|
Other
reserves
(Note
20)
|
Retained
earnings
|
Total
Shareholders’ equity
|
Balance
as of June 30,
2015
|
495
|
7
|
65
|
659
|
13
|
|
545
|
172
|
1,956
|
Adjustment due to
change to accounting standards (iii)
|
-
|
-
|
-
|
-
|
-
|
-
|
(1)
|
5
|
4
|
Balance
as of June 30,
2015
|
495
|
7
|
65
|
659
|
13
|
-
|
544
|
177
|
1,960
|
Loss for the
period
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(288)
|
(288)
|
Other comprehensive
loss for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
(107)
|
-
|
(107)
|
Total
comprehensive loss for the period
|
-
|
-
|
-
|
-
|
-
|
-
|
(107)
|
(288)
|
(395)
|
Reserve for
share-based compensation
|
-
|
-
|
-
|
-
|
-
|
-
|
5
|
-
|
5
|
Equity incentive
plan granted
|
-
|
-
|
-
|
-
|
2
|
-
|
(3)
|
1
|
-
|
Changes in interest
in subsidiaries
|
-
|
-
|
-
|
-
|
-
|
-
|
(5)
|
-
|
(5)
|
Constitution of
special reserve GR 609/12
|
-
|
-
|
-
|
-
|
-
|
54
|
-
|
(54)
|
-
|
Balance
as of September 30, 2015
|
495
|
7
|
65
|
659
|
15
|
54
|
434
|
(164)
|
1,565
|
|
Eduardo S.
Elsztain
|
President
|
)
|
|
Note
|
09.30.16
|
|
09.30.15
|
Operating
activities:
|
|
|
|
|
Cash used in
operations
|
14
|
(171)
|
|
(51)
|
Net
cash used in operating activities
|
|
(171)
|
|
(51)
|
Investing
activities:
|
|
|
|
|
Acquisition of
subsidiaries, associates and joint
ventures
|
|
(6)
|
|
-
|
Proceeds from sale
of investment properties
|
|
-
|
|
1
|
Acquisition of
property, plant and equipment
|
8
|
(13)
|
|
(7)
|
Proceeds from sale
of farmlands
|
|
71
|
|
-
|
Purchase of
investment in financial assets
|
|
(210)
|
|
(32)
|
Proceeds from
disposals of investments in financial assets
|
|
218
|
|
39
|
Loans granted to
subsidiaries, associates and joint ventures
|
|
-
|
|
(3)
|
Loans repayments
received from subsidiaries, associates and joint
ventures
|
|
10
|
|
12
|
Dividends
received
|
|
1
|
|
-
|
Net
cash generated from investing activities
|
|
71
|
|
10
|
Financing
activities:
|
|
|
|
|
Proceeds from
issuance of NCN
|
|
-
|
|
390
|
Repayment of
NCN
|
|
(187)
|
|
(59)
|
Repurchase of
convertible notes
|
|
(144)
|
|
-
|
Proceeds from
borrowings
|
|
608
|
|
-
|
Repayment of
borrowings
|
|
(106)
|
|
(199)
|
Repayment of
derivative financial instruments
|
|
-
|
|
(13)
|
Proceeds from
derivative financial instruments
|
|
14
|
|
-
|
Repayment of
borrowings from subsidiaries, associates and joint
ventures
|
|
(6)
|
|
-
|
Interest
paid
|
|
(74)
|
|
(71)
|
Net
cash flows generated from financing activities
|
|
105
|
|
48
|
Net
increase in cash and cash equivalents
|
|
5
|
|
7
|
Cash and cash
equivalents at beginning of the period
|
14
|
11
|
|
18
|
Cash
and cash equivalents at the end of the
period
|
|
16
|
|
25
|
|
Eduardo S.
Elsztain
|
President
|
)
|
|
|
07.01.15
|
Shareholders’
equity under Technical Resolution N° 26
|
1,956
|
Acquisition of
non-controlling interest
|
(54)
|
Retained earnings
recognition
|
54
|
Adjustment due to
change to accounting standards (a)
|
4
|
Shareholders'
equity under IFRS
|
1,960
|
|
|
06.30.16
|
|
09.30.15
|
Shareholders’
equity under Technical Resolution N° 26
|
|
1,021
|
|
1,550
|
Investments in
subsidiaries, associates and joint ventures
|
(a)
|
3
|
|
15
|
Shareholders'
equity under IFRS
|
|
1,024
|
|
1,565
|
|
|
09.30.15
|
Net
comprehensive loss under Technical Resolution N°
26
|
|
(292)
|
Investments in
subsidiaries, associates and joint ventures
|
(a)
|
4
|
Loss
under IFRS
|
|
(288)
|
|
September
30,
2016
|
|
June
30,
2016
|
Beginning
of the period / year adjusted
|
2,560
|
|
2,881
|
Effect of merger
with Agromanagers S.A.
|
1
|
|
-
|
Acquisition of
subsidiaries and associates (i)
|
(179)
|
|
66
|
Capital
contribution
|
-
|
|
127
|
Disposal of
interest in subsidiaries
|
-
|
|
(22)
|
Share of loss
profit
|
(368)
|
|
(795)
|
Other comprehensive
profit / (loss) from share of changes in subsidiaries’
equity
|
10
|
|
(30)
|
Currency
translation adjustment
|
330
|
|
345
|
Equity-settled
compensation
|
2
|
|
10
|
Dividends
distributed
|
(10)
|
|
(55)
|
Reimbursement of
expired dividends
|
-
|
|
6
|
Intergroup
transactions
|
-
|
|
3
|
Share of changes in
subsidiaries’ equity
|
-
|
|
24
|
End
of the period / year (ii)
|
2,346
|
|
2,560
|
Issuer
and type
of
securities
|
Class
|
Amount
|
Value
recorded as of 09.30.16
|
Value
recorded as of 06.30.16
|
Market
value as of 09.30.16
|
Issuer's
information
|
Interest
in common stock
|
||||
Main
activity
|
Place
of business / country of incorporation
|
Last
financial statement issued
|
|||||||||
Common
stock (nominal value)
|
Income
(loss) for the period
|
Shareholders'
equity
|
|||||||||
Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
Brasilagro
|
Shares
|
23,150,050
|
1,212
|
1,008
|
Rs.
11.03
|
Agricultural
|
Brazil
|
875
|
9
|
2,856
|
40.94%
|
|
Higher
value
|
|
83
|
83
|
|
|
|
|
|
|
|
|
Goodwill
|
|
12
|
10
|
|
|
|
|
|
|
|
|
Intergroup
transactions
|
|
(1)
|
(1)
|
|
|
|
|
|
|
|
|
|
|
1,306
|
1,100
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agropecuaria
Santa Cruz de la Sierra S.A.
|
Shares
|
1,351,949,253
|
525
|
518
|
Not
publicly
|
Agricultural
|
Uruguay
|
263
|
(1)
|
367
|
100.00%
|
(formerly
Doneldon S.A.)
|
Intergroup
transactions
|
|
(158)
|
(158)
|
traded
|
|
|
|
|
|
|
|
|
|
367
|
360
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Futuros
y Opciones.Com S.A.
|
Shares
|
1,632,105
|
51
|
31
|
Not
publicly traded
|
Brokerage
|
Argentina
|
2
|
49
|
85
|
59.59%
|
|
|
|
51
|
31
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amauta Agro S.A.
(formerly
|
Shares
|
220,000
|
1
|
1
|
Not
publicly traded
|
Brokerage
|
Argentina
|
23
|
1
|
26
|
2.20%
|
Fyo Trading S.A.
which changed its legal name)
|
|
|
1
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Helmir
S.A.
|
Shares
|
548,347,685
|
352
|
342
|
Not
publicly traded
|
Investment
|
Uruguay
|
91
|
7
|
352
|
100.00%
|
|
|
|
352
|
342
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sociedad
Anónima Carnes Pampeanas S.A.
|
Shares
|
30,000,432
|
25
|
52
|
Not
publicly traded
|
Agroindustrial
|
Argentina
|
156
|
(27)
|
25
|
99.04%
|
|
|
|
25
|
52
|
|
|
|
|
|
|
|
Issuer
and type
of
securities
|
Class
|
Amount
|
Value
recorded as of 09.30.16
|
Value
recorded as of 06.30.16
|
Market
value as of 09.30.16
|
Issuer's
information
|
Interest
in common stock
|
||||
Main
activity
|
Place
of business /
country
of incorporation
|
Last
financial statement issued
|
|||||||||
Common
stock (nominal value)
|
Income
(loss) for the period
|
Shareholders'
equity
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
IRSA
Inversiones y Representaciones
|
Shares
|
574,451,000
|
293
|
704
|
12.65
|
Real
Estate
|
Argentina
|
575
|
(577)
|
463
|
63.38%
|
Sociedad
Anónima
|
Intergroup
transactions
|
|
(222)
|
(222)
|
|
|
|
|
|
|
|
|
Higher
value
|
|
114
|
122
|
|
|
|
|
|
|
|
|
Goodwill
|
|
14
|
14
|
|
|
|
|
|
|
|
|
|
|
199
|
618
|
|
|
|
|
|
|
|
Total Subsidiaries
|
|
|
2,301
|
2,501
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Associates
|
|
|
|
|
|
|
|
|
|
|
|
Granos
Olavarría S.A.
|
Shares
|
512,000
|
2
|
1
|
Not
publicly traded
|
Warehousing
and
|
Argentina
|
1
|
45
|
73
|
2.20%
|
|
|
|
2
|
1
|
|
Brokerage
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agromanagers
S.A.
|
Shares
|
(i)
|
-
|
3
|
Not
publicly traded
|
Investment
|
Argentina
|
2
|
1
|
5
|
(i)
|
|
Goodwill
|
|
-
|
1
|
|
|
|
|
|
|
|
|
|
|
-
|
4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agrofy
S.A.
|
Shares
|
45,230
|
(6)
|
(3)
|
Not
publicly traded
|
Advertising
|
Argentina
|
-
|
(6)
|
(13)
|
45.23%
|
|
|
|
(6)
|
(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agrouranga
S.A.
|
Shares
|
8,511,960
|
38
|
43
|
Not
publicly traded
|
Agricultural
|
Argentina
|
3
|
(13)
|
106
|
35.72%
|
|
Higher
value
|
|
11
|
11
|
|
|
|
|
|
|
|
|
|
|
49
|
54
|
|
|
|
|
|
|
|
Total Associates
|
|
|
45
|
56
|
|
|
|
|
|
|
|
Total Investments in subsidiaries, associates and joint ventures as
of 09.30.16
|
|
|
(*) 2,346
|
-
|
|
|
|
|
|
|
|
Total Investments in associates and joint ventures as of
06.30.16
|
|
|
-
|
(*) 2,560
|
|
|
|
|
|
|
|
|
September
30,
2016
|
|
June
30,
2016
|
Beginning
of the period / year
|
9
|
|
11
|
Additions
|
-
|
|
1
|
Reclassification to
property, plant and equipment
|
(9)
|
|
(1)
|
Disposals
|
-
|
|
(1)
|
Depreciation
charges (i)
|
-
|
|
(1)
|
End
of the period / year
|
-
|
|
9
|
Costs
|
14
|
|
14
|
Accumulated
depreciation
|
(14)
|
|
(5)
|
Net book
amount
|
-
|
|
9
|
|
September
30,
2016
|
|
September
30,
2015
|
Rental and service
income
|
1
|
|
1
|
Direct operating
expenses
|
2
|
|
3
|
|
Owner-occupied
farmland (ii)
|
|
Others
|
|
Total
|
At
June 30, 2015:
|
|
|
|
|
|
Costs
|
504
|
|
42
|
|
546
|
Accumulated
depreciation
|
(52)
|
|
(23)
|
|
(75)
|
Net book
amount
|
452
|
|
19
|
|
471
|
Year
ended June 30, 2016:
|
|
|
|
|
|
Opening net book
amount
|
452
|
|
19
|
|
471
|
Additions
|
25
|
|
8
|
|
33
|
Reclassifications
of investment properties
|
1
|
|
-
|
|
1
|
Depreciation
charges (i)
|
(12)
|
|
(5)
|
|
(17)
|
Closing
net book amount
|
466
|
|
22
|
|
488
|
At
June 30, 2016:
|
|
|
|
|
|
Costs
|
530
|
|
50
|
|
580
|
Accumulated
depreciation
|
(64)
|
|
(28)
|
|
(92)
|
Net book
amount
|
466
|
|
22
|
|
488
|
Period
ended September 30, 2016
|
|
|
|
|
|
Opening net book
amount
|
466
|
|
22
|
|
488
|
Additions
|
11
|
|
2
|
|
13
|
Reclassifications
of investment properties
|
9
|
|
-
|
|
9
|
Disposals
|
(15)
|
|
-
|
|
(15)
|
Depreciation
charges (i) (Note 23)
|
(3)
|
|
(1)
|
|
(4)
|
Closing
net book amount
|
468
|
|
23
|
|
491
|
At
September 30, 2016:
|
|
|
|
|
|
Costs
|
535
|
|
52
|
|
587
|
Accumulated
depreciation
|
(67)
|
|
(29)
|
|
(96)
|
Net book
amount
|
468
|
|
23
|
|
491
|
|
Computer
software
|
|
Rights
of use
|
|
Total
|
Net
book amount as of June 30, 2015
|
1
|
|
17
|
|
18
|
Amortization
charges (i)
|
-
|
|
(1)
|
|
(1)
|
Net
book amount as of June 30, 2016
|
1
|
|
16
|
|
17
|
Costs
|
1
|
|
20
|
|
21
|
Accumulated
depreciation
|
-
|
|
(4)
|
|
(4)
|
Net
book amount as of June 30, 2016
|
1
|
|
16
|
|
17
|
Amortization
charges (i)
|
-
|
|
-
|
|
-
|
Net
book amount as of September 30, 2016
|
1
|
|
16
|
|
17
|
Costs
|
1
|
|
20
|
|
21
|
Accumulated
depreciation
|
-
|
|
(4)
|
|
(4)
|
Net
book amount as of September 30, 2016
|
1
|
|
16
|
|
17
|
|
September
30,
2016
|
|
June
30,
2016
|
Beginning
of the period / year
|
919
|
|
459
|
Increase due to
purchases
|
12
|
|
12
|
Initial recognition
and changes in the fair value of biological
assets
|
218
|
|
1,110
|
Decrease due to
harvest
|
(430)
|
|
(522)
|
Decrease due to
sales
|
(47)
|
|
(137)
|
Decrease due to
consumption
|
-
|
|
(3)
|
End
of the period / year
|
672
|
|
919
|
|
|
September
30, 2016
|
||||||
|
Classification
|
Level
1
|
|
Level
2
|
|
Level
3
|
|
Total
|
Dairy
cattle
|
Production
|
-
|
|
51
|
|
-
|
|
51
|
Breeding
cattle
|
Production
|
-
|
|
462
|
|
-
|
|
462
|
Other
cattle
|
Production
|
-
|
|
10
|
|
-
|
|
10
|
Other biological
assets (i)
|
Production
|
6
|
|
-
|
|
-
|
|
6
|
Total
biological assets non-current
|
|
6
|
|
523
|
|
-
|
|
529
|
|
|
|
|
|
|
|
|
|
Breeding
cattle
|
Production
|
-
|
|
61
|
|
-
|
|
61
|
Crops
fields
|
Production
|
78
|
|
-
|
|
4
|
|
82
|
Total
biological assets
current
|
|
78
|
|
61
|
|
4
|
|
143
|
Total
biological
assets
|
|
84
|
|
584
|
|
4
|
|
672
|
|
|
June
30, 2016
|
||||||
|
Classification
|
Level
1
|
|
Level
2
|
|
Level
3
|
|
Total
|
Dairy
cattle
|
Production
|
-
|
|
49
|
|
-
|
|
49
|
Breeding
cattle
|
Production
|
-
|
|
413
|
|
-
|
|
413
|
Other
cattle
|
Production
|
-
|
|
9
|
|
-
|
|
9
|
Other biological
assets (i)
|
Production
|
6
|
|
-
|
|
-
|
|
6
|
Total
biological assets non-current
|
|
6
|
|
471
|
|
-
|
|
477
|
|
|
|
|
|
|
|
|
|
Breeding
cattle
|
Production
|
-
|
|
75
|
|
-
|
|
75
|
Other
cattle
|
Production
|
-
|
|
1
|
|
-
|
|
1
|
Crops
fields
|
Production
|
10
|
|
-
|
|
356
|
|
366
|
Total
biological assets
current
|
|
10
|
|
76
|
|
356
|
|
442
|
Total
biological
assets
|
|
16
|
|
547
|
|
356
|
|
919
|
|
Crop
fields with significant biological growth
|
As
of June 30, 2015
|
40
|
Initial recognition
and changes in the fair value of biological
assets
|
838
|
Decrease due to
harvest
|
(522)
|
As
of June 30, 2016
|
356
|
Initial recognition
and changes in the fair value of biological
assets
|
78
|
Decrease due to
harvest
|
(430)
|
As
of September 30, 2016
|
4
|
Description
|
|
Pricing model
|
|
Parameters
|
|
Cattle
|
|
Comparable
market prices
|
|
Price
per livestock head/kg and per category
|
|
Description
|
|
Model
|
|
Parameters
|
|
Ranges / Values
|
|
Unit of measurement
|
Corn
|
|
Discounted
cash flows
|
|
Yields
|
|
6.00 –
9.81
|
|
Tn/ha
|
|
|
Future
sale prices
|
|
2,396 –
2,474
|
|
Ps./Tn
|
||
|
|
Selling
expenses
|
|
408 –
689
|
|
Ps./Tn
|
||
|
|
Operating
cost
|
|
3,445 –
3,534
|
|
Ps./ha
|
||
Wheat
|
|
Discounted
cash flows
|
|
Yields
|
|
0.6 –
0.6
|
|
Tn/ha
|
|
|
Future
sale prices
|
|
2,267 –
2,267
|
|
Ps./Tn
|
||
|
|
Selling
expenses
|
|
1,035 –
1,035
|
|
Ps./Tn
|
||
|
|
Operating
cost
|
|
2,577 –
2,577
|
|
Ps./ha
|
|
September
30,
2016
|
|
June
30,
2016
|
Current
|
|
|
|
Crops
|
332
|
|
290
|
Materials and
inputs
|
146
|
|
93
|
Seeds and
fodders
|
114
|
|
108
|
Total
inventories
|
592
|
|
491
|
|
Financial
assets at amortized cost
|
|
Financial
assets at fair value through
profit
or loss
|
|
Subtotal
financial assets
|
|
Non-financial
assets
|
|
Total
|
||
September
30, 2016
|
|
|
Level
1
|
Level
2
|
Level
3
|
|
|
|
|
|
|
Assets
as per statement of financial position
|
|
|
|
|
|
|
|
|
|
|
|
Trade and other
receivables (excluding the provision for trade and other
receivables) (Note 13)
|
413
|
|
-
|
-
|
-
|
|
413
|
|
147
|
|
560
|
Investment in
financial assets:
|
|
|
|
|
|
|
|
|
|
|
|
- Government
bonds
|
-
|
|
16
|
-
|
-
|
|
16
|
|
-
|
|
16
|
Derivative
financial instruments:
|
|
|
|
|
|
|
|
|
|
|
|
- Crops
future
contracts
|
-
|
|
6
|
-
|
-
|
|
6
|
|
-
|
|
6
|
Cash and cash
equivalents (Note 14):
|
|
|
|
|
|
|
|
|
|
|
|
- Cash on
hand and at
bank
|
13
|
|
-
|
-
|
-
|
|
13
|
|
-
|
|
13
|
- Mutual
funds
|
-
|
|
3
|
-
|
-
|
|
3
|
|
-
|
|
3
|
Total
|
426
|
|
25
|
-
|
-
|
|
451
|
|
147
|
|
598
|
|
Financial
liabilities
at amortized cost
|
|
Financial
liabilities
at
fair value
|
|
Subtotal
financial liabilities
|
|
Non-financial
liabilities
|
|
Total
|
||
Liabilities
as per statement of financial position
|
|
|
Level
1
|
Level
2
|
Level
3
|
|
|
|
|
|
|
Trade and other
payables (Note
15)
|
283
|
|
-
|
-
|
-
|
|
283
|
|
39
|
|
322
|
Borrowings
(excluding finance lease liabilities) (Note 18)
|
4,528
|
|
-
|
-
|
-
|
|
4,528
|
|
-
|
|
4,528
|
Total
|
4,811
|
|
-
|
-
|
-
|
|
4,811
|
|
39
|
|
4,850
|
|
Financial
assets at amortized cost
|
|
Financial
assets at fair value through
profit
or loss
|
|
Subtotal
financial assets
|
|
Non-financial
assets
|
|
Total
|
||
June
30, 2016
|
|
|
Level
1
|
Level
2
|
Level
3
|
|
|
|
|
|
|
Assets
as per statement of financial position
|
|
|
|
|
|
|
|
|
|
|
|
Trade and other
receivables (excluding the provision for trade and other
receivables) (Note 13)
|
288
|
|
-
|
-
|
-
|
|
288
|
|
108
|
|
396
|
Investment in
financial assets:
|
|
|
|
|
|
|
|
|
|
|
|
- Mutual
funds
|
-
|
|
15
|
-
|
-
|
|
15
|
|
-
|
|
15
|
- Government
bonds
|
-
|
|
7
|
-
|
-
|
|
7
|
|
-
|
|
7
|
Derivative
financial instruments:
|
|
|
|
|
|
|
|
|
|
|
|
-
Foreign-currency
contracts
|
-
|
|
-
|
15
|
-
|
|
15
|
|
-
|
|
15
|
Cash and cash
equivalents (Note 14):
|
|
|
|
|
|
|
|
|
|
|
|
- Cash on
hand and at
bank
|
8
|
|
-
|
-
|
-
|
|
8
|
|
-
|
|
8
|
- Mutual
funds
|
-
|
|
3
|
-
|
-
|
|
3
|
|
-
|
|
3
|
Total
|
296
|
|
25
|
15
|
-
|
|
336
|
|
108
|
|
444
|
|
Financial
liabilities
at amortized cost
|
|
Financial
liabilities
at
fair value
|
|
Subtotal
financial liabilities
|
|
Non-financial
liabilities
|
|
Total
|
||
Liabilities
as per statement of financial position
|
|
|
Level
1
|
Level
2
|
Level
3
|
|
|
|
|
|
|
Trade and other
payables (Note
15)
|
291
|
|
-
|
-
|
-
|
|
291
|
|
15
|
|
306
|
Borrowings
(excluding finance lease liabilities) (Note 18)
|
4,316
|
|
-
|
-
|
-
|
|
4,316
|
|
-
|
|
4,316
|
Derivative
financial instruments:
|
|
|
|
|
|
|
|
|
|
|
|
-
Foreign-currency
contracts
|
-
|
|
9
|
-
|
-
|
|
9
|
|
-
|
|
9
|
- Crops
futures
|
-
|
|
14
|
-
|
-
|
|
14
|
|
-
|
|
14
|
Total
|
4,607
|
|
23
|
-
|
-
|
|
4,630
|
|
15
|
|
4,645
|
|
September
30,
2016
|
|
June
30,
2016
|
Current
|
|
|
|
Receivables from
sale of agricultural products and services
|
157
|
|
68
|
Deferred checks
received
|
1
|
|
-
|
Debtors under legal
proceedings
|
9
|
|
9
|
Less: allowance for
doubtful accounts
|
(8)
|
|
(8)
|
Total
current trade receivables
|
159
|
|
69
|
Prepayments
|
74
|
|
43
|
Tax
credits
|
67
|
|
60
|
Loans
|
5
|
|
5
|
Advance
payments
|
6
|
|
5
|
Others
|
15
|
|
7
|
Total
current other receivables
|
167
|
|
120
|
Related parties
(Note 28)
|
226
|
|
199
|
Total
current trade and other receivables
|
552
|
|
388
|
Total
trade and other receivables
|
552
|
|
388
|
|
September
30,
2016
|
|
June
30,
2016
|
Beginning
of the period / year
|
8
|
|
8
|
Charges
|
-
|
|
-
|
End
of the period / year
|
8
|
|
8
|
|
September
30,
2016
|
|
June
30,
2016
|
Cash on hand and at
banks
|
13
|
|
8
|
Mutual
funds
|
3
|
|
3
|
Total
cash and cash equivalents
|
16
|
|
11
|
|
September
30,
2016
|
|
September
30,
2015
|
Loss
for the period
|
(487)
|
|
(288)
|
Adjustments
for:
|
|
|
|
Income tax
expense
|
(64)
|
|
(73)
|
Depreciation and
amortization
|
4
|
|
5
|
Gain from disposal
of farmlands
|
(73)
|
|
-
|
Share based
payments
|
1
|
|
1
|
Unrealized gain
from derivative financial instruments of commodities
|
(18)
|
|
(2)
|
(Gain) / Loss from
derivative financial instruments (except commodities)
|
(8)
|
|
5
|
Changes in fair
value of financial assets at fair value through profit or
loss
|
(1)
|
|
(2)
|
Accrued interest,
net
|
65
|
|
73
|
Unrealized initial
recognition and changes in the fair value of biological
assets
|
(132)
|
|
(40)
|
Changes in the net
realizable value of agricultural produce after harvest
|
92
|
|
8
|
Provisions
|
45
|
|
4
|
Gain from
repurchase of Non-convertible Notes
|
(16)
|
|
-
|
Share of loss of
subsidiaries, associates and joint ventures
|
368
|
|
149
|
Unrealized foreign
exchange loss, net
|
63
|
|
73
|
Changes
in operating assets and liabilities:
|
|
|
|
Decrease in
biological assets
|
378
|
|
63
|
(Increase) /
Decrease in inventories
|
(193)
|
|
8
|
Increase in trade
and other receivables
|
(139)
|
|
(16)
|
Increase in
derivative financial instruments
|
(1)
|
|
-
|
Increase in trade
and other payables
|
(24)
|
|
(1)
|
Decrease in payroll
and social security liabilities
|
(31)
|
|
(18)
|
Net
cash used in operating activities before income tax
paid
|
(171)
|
|
(51)
|
|
09.30.16
|
|
09.30.15
|
Non-cash
activities
|
|
|
|
Dividends not
collected
|
(10)
|
|
(2)
|
Decrease of
interest in subsidiaries, associates and joint venture by exchange
differences on translating foreign operations
|
(330)
|
|
107
|
Increase of
interest in subsidiaries, associates and joint ventures through a
decrease in trade and other receivables
|
-
|
|
(36)
|
Increase of
interest in subsidiaries, associates and joint ventures through
reserve for share-based compensation
|
2
|
|
-
|
Increase in trade
and other receivables through a decrease in property, plant and
equipment
|
(15)
|
|
-
|
Reserve for
share-based payments
|
-
|
|
3
|
Stock plan
granted
|
-
|
|
(3)
|
|
September
30,
2016
|
|
June
30,
2016
|
Non-current
|
|
|
|
Tax on
shareholders’ personal assets
|
-
|
|
1
|
Total
non-current other payables
|
-
|
|
1
|
Total
non-current trade and other payables
|
-
|
|
1
|
Current
|
|
|
|
Trade
payables
|
94
|
|
124
|
Provisions
|
161
|
|
136
|
Sales, rent and
services payments received in advance
|
16
|
|
4
|
Total
current trade payables
|
271
|
|
264
|
Taxes
payable
|
23
|
|
10
|
Total
current other payables
|
23
|
|
10
|
Related parties
(Note 28)
|
29
|
|
31
|
Total
current trade and other payables
|
323
|
|
305
|
Total
trade and other payables
|
323
|
|
306
|
|
September
30,
2016
|
|
June
30,
2016
|
Provision for
vacations and bonuses
|
32
|
|
75
|
Social security
payable
|
22
|
|
10
|
Total
payroll and social security liabilities
|
54
|
|
85
|
|
Labor
and tax claims and other claims
|
|
Investments
in subsidiaries, associates and joint ventures (i)
|
|
Total
|
As
of June 30, 2015
|
4
|
|
8
|
|
12
|
Additions
|
3
|
|
3
|
|
6
|
Used during
period
|
-
|
|
(8)
|
|
(8)
|
As
of June 30, 2016
|
7
|
|
3
|
|
10
|
Additions
|
1
|
|
3
|
|
4
|
Reclassification to
be recovered
|
3
|
|
-
|
|
3
|
As
of September 30, 2016
|
11
|
|
6
|
|
17
|
|
September
30,
2016
|
|
June
30,
2016
|
Non-current
|
17
|
|
10
|
|
17
|
|
10
|
|
September
30,
2016
|
|
June
30,
2016
|
Non-current
|
|
|
|
Non-convertible
notes
|
2,865
|
|
2,975
|
Bank loans and
others
|
782
|
|
175
|
Non-current
borrowings
|
3,647
|
|
3,150
|
Current
|
|
|
|
Non-convertible
notes
|
492
|
|
676
|
Bank loans and
others
|
360
|
|
376
|
Bank
overdrafts
|
29
|
|
114
|
Current
borrowings
|
881
|
|
1,166
|
Total
borrowings
|
4,528
|
|
4,316
|
|
|
|
|
|
|
|
|
|
|
|
Value
as of
|
||
|
Secured
/ unsecured
|
|
Currency
|
|
Fixed
/ Floating
|
|
Effective
interest
rate %
|
|
Nominal
value
(in
million)
|
|
September
30,
2016
|
|
June
30,
2016
|
Non-current
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CRESUD NCN Class
XIV due 2018
(i)
|
Unsecured
|
|
US$
|
|
Fixed
|
|
1.50 %
|
|
32
|
|
465
|
|
481
|
CRESUD NCN Class
XVI due 2018
(ii)
|
Unsecured
|
|
US$
|
|
Fixed
|
|
1.50 %
|
|
109
|
|
1,556
|
|
1,649
|
CRESUD NCN Class
XVIII due 2019 (iii)
|
Unsecured
|
|
US$
|
|
Fixed
|
|
4.00%
|
|
34
|
|
502
|
|
510
|
CRESUD NCN Class
XXII due 2019
(v)
|
Unsecured
|
|
US$
|
|
Fixed
|
|
4.00%
|
|
22
|
|
342
|
|
335
|
Loan from Banco
Ciudad
|
Unsecured
|
|
US$
|
|
Floating
|
|
Libor + 300 bps or
6% (the higher)
|
|
15
|
|
175
|
|
172
|
Loan from Banco
Río
|
Unsecured
|
|
US$
|
|
Fixed
|
|
5.60%
|
|
40
|
|
607
|
|
-
|
Loan from Banco de
La
Pampa
|
Unsecured
|
|
Ps.
|
|
Floating
|
|
Rate Survey PF
30-59 days
|
|
20
|
|
-
|
|
3
|
Non-current
borrowings
|
|
|
|
|
|
|
|
|
|
|
3,647
|
|
3,150
|
|
|
|
|
|
|
|
|
|
|
|
Value
as of
|
||
|
Secured
/ unsecured
|
|
Currency
|
|
Fixed
/ Floating
|
|
Effective
interest
rate %
|
|
Nominal
value
(in
million)
|
|
September
30,
2016
|
|
June
30,
2016
|
Current
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CRESUD NCN Class
XVI due 2018
(ii)
|
Unsecured
|
|
US$
|
|
Fixed
|
|
1.50 %
|
|
109
|
|
10
|
|
10
|
CRESUD NCN Class
XVIII due 2019 (iii)
|
Unsecured
|
|
US$
|
|
Fixed
|
|
4.00%
|
|
34
|
|
3
|
|
2
|
CRESUD NCN Class
XIX due
2016
|
Unsecured
|
|
Ps.
|
|
Floating
|
|
Badlar + 250
bps
|
|
187
|
|
-
|
|
189
|
CRESUD NCN Class XX
due 2017
(iv)
|
Unsecured
|
|
US$
|
|
Fixed
|
|
2.50%
|
|
18
|
|
281
|
|
278
|
CRESUD NCN Class
XXI due
2017
|
Unsecured
|
|
Ps.
|
|
Floating
|
|
Badlar + 375
bps
|
|
192
|
|
199
|
|
197
|
CRESUD NCN Class
XXII due
2019
|
Unsecured
|
|
US$
|
|
Fixed
|
|
4%
|
|
22
|
|
(1)
|
|
-
|
Loan from Banco
Ciudad
|
Unsecured
|
|
US$
|
|
Floating
|
|
Libor + 300 bps or
6% (the higher)
|
|
15
|
|
26
|
|
28
|
Loan from Banco de
La
Pampa
|
Unsecured
|
|
Ps.
|
|
Floating
|
|
Rate Survey PF
30-59 days
|
|
20
|
|
7
|
|
7
|
Loan from Banco de
la Provincia de Buenos Aires
|
Unsecured
|
|
Ps.
|
|
Fixed
|
|
15.01%
|
|
24
|
|
234
|
|
17
|
Loan from Banco de
la Provincia de Buenos Aires
|
Unsecured
|
|
US$
|
|
Fixed
|
|
3.50%
|
|
15
|
|
-
|
|
225
|
Loans from Banco
Río
|
Unsecured
|
|
US$
|
|
Fixed
|
|
5.60%
|
|
40
|
|
(3)
|
|
-
|
Related parties
borrowings (Note
28)
|
Unsecured
|
|
US$
|
|
Fixed
|
|
4.21%
|
|
5
|
|
96
|
|
99
|
Bank
overdrafts
|
Unsecured
|
|
Ps.
|
|
Fixed
|
|
29.17%
|
|
-
|
|
29
|
|
114
|
Current
borrowings
|
|
|
|
|
|
|
|
|
|
|
881
|
|
1,166
|
Total
borrowings
|
|
|
|
|
|
|
|
|
|
|
4,528
|
|
4,316
|
|
September
30,
2016
|
|
June
30,
2016
|
CRESUD Class XIV
NCN due 2018
|
488
|
|
481
|
CRESUD Class XVI
NCN due 2018
|
1,662
|
|
1,649
|
CRESUD Class XVIII
NCN due 2019
|
514
|
|
510
|
CRESUD Class XIX
NCN due 2016
|
-
|
|
189
|
CRESUD Class XX NCN
due 2017
|
281
|
|
278
|
CRESUD Class XXI
NCN due 2017
|
199
|
|
197
|
CRESUD Class XXII
NCN due 2019
|
347
|
|
335
|
Bank loans and
others
|
1,142
|
|
551
|
Bank
overdrafts
|
29
|
|
114
|
Total
|
4,662
|
|
4,304
|
|
September
30,
2016
|
|
September
30,
2015
|
Deferred income
tax
|
64
|
|
73
|
Income
tax
|
64
|
|
73
|
|
September
30,
2016
|
|
June
30,
2016
|
Beginning
of the period / year
|
757
|
|
447
|
Charged to the
statement of income
|
64
|
|
310
|
End
of the period / year
|
821
|
|
757
|
|
September
30,
2016
|
|
September
30,
2015
|
Tax calculated at
the tax applicable tax rate in effect
|
193
|
|
126
|
Permanent
differences:
|
|
|
|
Share of loss in
subsidiaries, associates and joint ventures
|
(129)
|
|
(52)
|
Director's
fees
|
-
|
|
(1)
|
Tax on personal
assets
|
-
|
|
(1)
|
Others
|
-
|
|
1
|
Income
tax
|
64
|
|
73
|
|
Cost
of treasury shares
|
Changes
in interest in subsidiaries
|
Cumulative
translation adjustment
|
Reserve
for
share
based compensation
|
Reserve
for future dividends
|
Reserve
for defined benefit plans
|
Reserve
for the acquisition of securities issued by the
Company
|
Total
other
reserves
|
Balance
as of June 30, 2016
|
(32)
|
63
|
806
|
95
|
31
|
(6)
|
32
|
989
|
Adjustment due to
change to accounting standards
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Adjusted
balances as of June 30, 2016
|
(32)
|
63
|
806
|
95
|
31
|
(6)
|
32
|
989
|
Other comprehensive
profit for the period
|
-
|
-
|
330
|
-
|
-
|
10
|
-
|
340
|
Total
comprehensive profit for the period
|
-
|
-
|
330
|
-
|
-
|
10
|
-
|
340
|
Appropriation
of retained earnings resolved by Shareholders’ Meeting held
on October 30 and November 26, 2015:
|
|
|
|
|
|
|
|
|
Equity-settled
compensation
|
-
|
-
|
-
|
3
|
-
|
-
|
-
|
3
|
Changes in interest
in subsidiaries
|
-
|
(183)
|
-
|
-
|
-
|
-
|
-
|
(183)
|
Balance
as of September 30, 2016
|
(32)
|
(120)
|
1,136
|
98
|
31
|
4
|
32
|
1,149
|
|
Cost
of
treasury
shares
|
Changes
in interest in subsidiaries
|
Cumulative
translation adjustment
|
Reserve
for share based compensation
|
Reserve
for the acquisition of securities issued by the
Company
|
Total
other reserves
|
Balance
as of June 30, 2015
|
(32)
|
-
|
463
|
82
|
32
|
545
|
Adjustment due to
change to accounting standards
|
-
|
-
|
(1)
|
-
|
-
|
(1)
|
Adjusted
balances as of June 30, 2015
|
(32)
|
-
|
462
|
82
|
32
|
544
|
Other comprehensive
loss for the period
|
-
|
-
|
(107)
|
-
|
-
|
(107)
|
Total
comprehensive loss for the period
|
-
|
-
|
(107)
|
-
|
-
|
(107)
|
Equity incentive
plan granted
|
-
|
-
|
-
|
(3)
|
-
|
(3)
|
Equity-settled
compensation
|
-
|
-
|
-
|
5
|
-
|
5
|
Changes in interest
in subsidiaries
|
|
(5)
|
-
|
-
|
-
|
(5)
|
Balance
as of September 30, 2015
|
(32)
|
(5)
|
355
|
84
|
32
|
434
|
|
September
30,
2016
|
|
September
30,
2015
|
Crops
|
344
|
|
200
|
Cattle
|
60
|
|
56
|
Dairy
|
20
|
|
18
|
Supplies
|
2
|
|
4
|
Rental and service
incomes
|
1
|
|
1
|
Total
revenues
|
427
|
|
279
|
|
September
30,
2016
|
|
September
30,
2015
|
Crops
|
435
|
|
208
|
Cattle
|
98
|
|
76
|
Dairy
|
43
|
|
34
|
Supplies
|
1
|
|
3
|
Rental and service
incomes
|
2
|
|
3
|
Other
costs
|
2
|
|
2
|
Total
costs
|
581
|
|
326
|
|
|
Costs
|
|
|||||||||
|
|
Cost
of sales and agricultural services
|
|
Cost
of agricultural production
|
|
Other
operating costs
|
|
General
and administrative expenses
|
|
Selling
expenses
|
|
Total
|
Supplies and
labor
|
|
1
|
|
164
|
|
-
|
|
-
|
|
-
|
|
165
|
Leases and
expenses
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
|
1
|
Amortization and
depreciation (i)
|
|
-
|
|
3
|
|
2
|
|
-
|
|
-
|
|
5
|
Changes in
biological assets and agricultural produce
|
|
362
|
|
-
|
|
-
|
|
-
|
|
-
|
|
362
|
Advertising,
publicity and other selling expenses
|
|
-
|
|
-
|
|
-
|
|
-
|
|
4
|
|
4
|
Maintenance and
repairs
|
|
-
|
|
10
|
|
-
|
|
1
|
|
-
|
|
11
|
Payroll and social
security liabilities (Note 24)
|
|
-
|
|
26
|
|
2
|
|
25
|
|
2
|
|
55
|
Fees and payments
for services
|
|
-
|
|
1
|
|
-
|
|
5
|
|
-
|
|
6
|
Freights
|
|
-
|
|
5
|
|
-
|
|
-
|
|
61
|
|
66
|
Bank commissions
and expenses
|
|
-
|
|
1
|
|
-
|
|
1
|
|
3
|
|
5
|
Travel expenses and
stationery
|
|
-
|
|
2
|
|
(2)
|
|
2
|
|
-
|
|
2
|
Conditioning and
clearance
|
|
-
|
|
-
|
|
-
|
|
-
|
|
14
|
|
14
|
Director’s
fees
|
|
-
|
|
-
|
|
-
|
|
6
|
|
-
|
|
6
|
Taxes, rates and
contributions
|
|
-
|
|
4
|
|
-
|
|
-
|
|
16
|
|
20
|
Total
expenses by nature
|
|
363
|
|
216
|
|
2
|
|
41
|
|
100
|
|
722
|
|
|
Costs
|
|
|||||||||
|
|
Cost
of sales and agricultural services
|
|
Cost
of agricultural production
|
|
Other
operating costs
|
|
General
and administrative expenses
|
|
Selling
expenses
|
|
Total
|
Supplies and
labor
|
|
-
|
|
89
|
|
-
|
|
-
|
|
-
|
|
89
|
Leases and
expenses
|
|
-
|
|
-
|
|
-
|
|
1
|
|
-
|
|
1
|
Amortization and
depreciation (i)
|
|
1
|
|
2
|
|
1
|
|
1
|
|
-
|
|
5
|
Changes in
biological assets and agricultural produce
|
|
195
|
|
-
|
|
-
|
|
-
|
|
-
|
|
195
|
Maintenance and
repairs
|
|
1
|
|
5
|
|
-
|
|
1
|
|
-
|
|
7
|
Payroll and social
security liabilities (Note 24)
|
|
1
|
|
19
|
|
1
|
|
22
|
|
2
|
|
45
|
Fees and payments
for services
|
|
-
|
|
1
|
|
-
|
|
2
|
|
-
|
|
3
|
Freights
|
|
-
|
|
3
|
|
-
|
|
-
|
|
23
|
|
26
|
Bank commissions
and expenses
|
|
-
|
|
-
|
|
-
|
|
1
|
|
2
|
|
3
|
Travel expenses and
stationery
|
|
-
|
|
3
|
|
-
|
|
1
|
|
-
|
|
4
|
Conditioning and
clearance
|
|
-
|
|
-
|
|
-
|
|
-
|
|
10
|
|
10
|
Director’s
fees
|
|
-
|
|
-
|
|
-
|
|
5
|
|
-
|
|
5
|
Taxes, rates and
contributions
|
|
-
|
|
3
|
|
-
|
|
-
|
|
7
|
|
10
|
Export
expenses
|
|
-
|
|
-
|
|
-
|
|
-
|
|
24
|
|
24
|
Others
|
|
-
|
|
1
|
|
-
|
|
-
|
|
-
|
|
1
|
Total
expenses by nature
|
|
198
|
|
126
|
|
2
|
|
34
|
|
68
|
|
428
|
|
September
30,
2016
|
|
September
30,
2015
|
Salaries, bonuses
and social security costs
|
49
|
|
39
|
Other benefits and
expenses
|
4
|
|
4
|
Share based
payments
|
1
|
|
1
|
Pension costs and
defined contribution plan costs
|
1
|
|
1
|
Total
employee costs
|
55
|
|
45
|
|
September
30,
2016
|
|
September
30,
2015
|
Administration
fees
|
-
|
|
1
|
Gain from commodity
derivative financial instruments
|
18
|
|
2
|
Tax on
shareholders’ personal assets
|
(1)
|
|
(2)
|
Contingencies
|
(2)
|
|
-
|
Gain from disposal
of property, plant and equipment
|
1
|
|
-
|
Others
|
1
|
|
-
|
Total
other operating results, net
|
17
|
|
1
|
|
September
30,
2016
|
|
September
30,
2015
|
Finance
income:
|
|
|
|
- Interest
income
|
9
|
|
3
|
- Foreign exchange
gains
|
3
|
|
(1)
|
Finance
income
|
12
|
|
2
|
|
|
|
|
Finance
costs:
|
|
|
|
- Interest
expense
|
(74)
|
|
(76)
|
- Foreign exchange
losses
|
(78)
|
|
(80)
|
- Other finance
costs
|
(8)
|
|
(6)
|
Finance
costs
|
(160)
|
|
(162)
|
|
|
|
|
Other financial
results, net:
|
|
|
|
- Fair value gains
of financial assets at fair value through profit or
loss
|
1
|
|
2
|
- Gain / (Loss)
from derivative financial instruments (except
commodities)
|
8
|
|
(5)
|
- Gain from
purchase of NCN
|
16
|
|
-
|
Total
other financial results, net
|
25
|
|
(3)
|
Total
financial results, net
|
(123)
|
|
(163)
|
Related
party
|
Description
of transaction
|
Trade
and other receivables
current
|
Trade
and
other payables current
|
Borrowings
non-current
|
Borrowings
current
|
Subsidiaries
|
|
|
|
|
|
IRSA Inversiones y
Representaciones S.A.
|
Corporate
services
|
19
|
-
|
-
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reimbursement of
expenses
|
3
|
-
|
-
|
-
|
Brasilagro
Companhia Brasileira de Propiedades Agrícolas
(“Brasilagro”)
|
Reimbursement of
expenses
|
3
|
(5)
|
-
|
-
|
|
|
|
|
|
|
Sociedad
Anónima Carnes Pampeanas S.A. (formerly EAASA)
|
Reimbursement of
expenses
|
1
|
-
|
-
|
-
|
|
|
|
|
|
|
Helmir
S.A.
|
Financial
operations
|
-
|
-
|
-
|
(96)
|
Ombú
Agropecuaria S.A.
|
Administration
fees
|
2
|
-
|
-
|
-
|
|
Reimbursement of
expenses
|
1
|
-
|
-
|
-
|
Agropecuaria Acres
del Sud S.A.
|
Administration
fees
|
2
|
-
|
-
|
-
|
Yatay Agropecuaria
S.A.
|
Administration
fees
|
2
|
-
|
-
|
-
|
Yuchán
Agropecuaria S.A.
|
Administration
fees
|
2
|
-
|
-
|
-
|
Futuros y
Opciones.Com S.A.
|
Brokerage
|
38
|
-
|
-
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Subsidiaries
|
|
127
|
(11)
|
-
|
(96)
|
Related
party
|
|
Description
of transaction
|
|
Trade
and other receivables
current
|
|
Trade
and
other payables current
|
|
Borrowings
non-current
|
|
Borrowings
current
|
|
Associates
|
|
|
|
|
|
|
|
|
|
|
|
Agro-Uranga
S.A.
|
|
Leases
|
|
-
|
|
(1)
|
|
-
|
|
-
|
|
Total
Associates
|
|
|
|
-
|
|
(1)
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Subsidiaries
of the subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
IRSA Propiedades
Comerciales S.A.
|
|
Reimbursement of
expenses
|
|
16
|
|
-
|
|
-
|
|
-
|
|
|
Share based
payments
|
|
-
|
|
(1)
|
|
-
|
|
-
|
||
|
Non-convertible
notes
|
|
-
|
|
-
|
|
(159)
|
|
(21)
|
||
|
Corporate
services
|
|
58
|
|
-
|
|
-
|
|
-
|
||
|
|
Leases
|
|
-
|
|
(2)
|
|
-
|
|
-
|
|
Emprendimiento
Recoleta S.A.
|
|
Non-convertible
notes
|
|
-
|
|
-
|
|
(41)
|
|
(35)
|
|
Panamerican Mall
S.A.
|
|
Non-convertible
notes
|
|
|
|
|
|
(16)
|
|
(100)
|
|
Amauta Agro S.A.
(formerly
|
|
Leases
|
|
-
|
|
(5)
|
|
-
|
|
-
|
|
FyO Trading S.A.
which changed its legal name)
|
|
Reimbursement of
expenses
|
|
1
|
|
-
|
|
-
|
|
-
|
|
Total
Subsidiaries of the subsidiaries
|
|
|
|
75
|
|
(8)
|
|
(216)
|
|
(156)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Joint
Ventures of the subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
Adama
|
|
Purchase of
goods
|
|
-
|
|
(4)
|
|
-
|
|
-
|
|
Total
Joint Ventures of the subsidiaries
|
|
|
|
-
|
|
(4)
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
Related parties
|
|
|
|
|
|
|
|
|
|
|
|
Consultores Asset
Management S.A. (CAMSA)
|
|
Reimbursement of
expenses
|
|
2
|
|
-
|
|
-
|
|
-
|
|
Inversiones
Financieras del Sur S.A.
|
|
Financial
operations
|
|
22
|
|
-
|
|
-
|
|
-
|
|
Other
Related parties
|
|
|
|
24
|
|
-
|
|
-
|
|
-
|
|
Directors
and Senior Management
|
|
|
|
|
|
|
|
|
|
|
|
Directors and
Senior Management
|
|
Director's
fees
|
|
-
|
|
(5)
|
|
-
|
|
-
|
|
Total
Directors and Senior Management
|
|
|
|
-
|
|
(5)
|
|
-
|
|
-
|
|
|
|
|
|
226
|
|
(29)
|
|
(216)
|
|
(252)
|
|
Related
party
|
|
Description
of transaction
|
|
Trade
and other receivables
current
|
|
Trade
and other payables
current
|
|
Borrowings
non-current
|
|
Borrowings
current
|
Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
IRSA
Inversiones y Representaciones Sociedad Anónima
|
|
Corporate
services
|
|
23
|
|
-
|
|
-
|
|
-
|
|
Leases
|
|
-
|
|
(3)
|
|
-
|
|
-
|
|
|
Share based
payments
|
|
-
|
|
(1)
|
|
-
|
|
-
|
|
|
Reimbursement of
expenses
|
|
5
|
|
-
|
|
-
|
|
-
|
|
Brasilagro
|
|
Reimbursement of
expenses
|
|
2
|
|
(4)
|
|
-
|
|
-
|
|
|
Dividends
receivables
|
|
4
|
|
-
|
|
-
|
|
-
|
Sociedad
Anónima Carnes Pampeanas S.A. (formerly EAASA)
|
|
Reimbursement of
expenses
|
|
1
|
|
-
|
|
-
|
|
-
|
|
Sale of goods
and/or services
|
|
4
|
|
-
|
|
-
|
|
-
|
|
Helmir
S.A.
|
|
Financial
operations
|
|
-
|
|
-
|
|
-
|
|
(99)
|
Ombú
Agropecuaria S.A.
|
|
Administration
fees
|
|
4
|
|
-
|
|
-
|
|
-
|
Agropecuaria
Acres del Sud S.A.
|
|
Administration
fees
|
|
2
|
|
-
|
|
-
|
|
-
|
Yatay
Agropecuaria S.A.
|
|
Administration
fees
|
|
2
|
|
-
|
|
-
|
|
-
|
Yuchán
Agropecuaria S.A.
|
|
Administration
fees
|
|
2
|
|
-
|
|
-
|
|
-
|
Futuros
y Opciones.Com S.A.
|
|
Brokerage
|
|
65
|
|
-
|
|
-
|
|
-
|
|
MAT
operations
|
|
-
|
|
(13)
|
|
-
|
|
-
|
|
|
Sale of inputs
operations
|
|
-
|
|
(1)
|
|
-
|
|
-
|
|
Total Subsidiaries
|
|
|
|
114
|
|
(22)
|
|
-
|
|
(99)
|
Associates
|
|
|
|
|
|
|
|
|
|
|
Agro-Uranga
S.A.
|
|
Dividends
receivables
|
|
1
|
|
-
|
|
-
|
|
-
|
Total Associates
|
|
|
|
1
|
|
-
|
|
-
|
|
-
|
Related
party
|
|
Description
of transaction
|
|
Trade
and other receivables current
|
|
Trade
and other payables
current
|
|
Borrowings
non-current
|
|
Borrowings
current
|
Subsidiaries of the subsidiaries
|
|
|
|
|
|
|
|
|
|
|
IRSA
Propiedades Comerciales Sociedad Anónima
|
|
Reimbursement of
expenses
|
|
25
|
|
-
|
|
-
|
|
-
|
|
Share based
payments
|
|
-
|
|
(1)
|
|
-
|
|
-
|
|
|
Non-convertible
notes
|
|
-
|
|
-
|
|
(156)
|
|
(21)
|
|
|
Corporate
services
|
|
44
|
|
-
|
|
-
|
|
-
|
|
|
Leases
|
|
-
|
|
(1)
|
|
-
|
|
-
|
|
Emprendimiento
Recoleta S.A.
|
|
Non-convertible
notes
|
|
-
|
|
-
|
|
(40)
|
|
(35)
|
Panamerican
Mall S.A.
|
|
Non-convertible
notes
|
|
-
|
|
-
|
|
(16)
|
|
(99)
|
Amauta Agro S.A.
(formerly FyO Trading S.A. which changed its legal
name)
|
|
Purchase of goods
and/or services
|
|
-
|
|
(4)
|
|
-
|
|
-
|
|
Contributions to be
paid in
|
|
-
|
|
(1)
|
|
-
|
|
-
|
|
Total Subsidiaries of the subsidiaries
|
|
|
|
69
|
|
(7)
|
|
(212)
|
|
(155)
|
Other Related parties
|
|
|
|
|
|
|
|
|
|
|
Consultores
Asset Management S.A. (CAMSA)
|
|
Reimbursement
of expenses
|
|
2
|
|
-
|
|
-
|
|
-
|
Inversiones
Financieras del Sur S.A.
|
|
Financial
operations
|
|
13
|
|
-
|
|
-
|
|
-
|
Total Other Related Parties
|
|
|
|
15
|
|
-
|
|
-
|
|
-
|
Directors and Senior Management
|
|
|
|
|
|
|
|
|
|
|
Directors
|
|
Fees
|
|
-
|
|
(2)
|
|
-
|
|
-
|
Total Directors and Senior Management
|
|
|
|
-
|
|
(2)
|
|
-
|
|
-
|
|
|
|
|
199
|
|
(31)
|
|
(212)
|
|
(254)
|
Related
party
|
|
Leases
and/or rights
of
use
|
|
Sale
of goods and/or services
|
|
Purchase
of goods and/or services
|
|
Corporate
services
|
|
Legal
services
|
|
Financial
operations
|
|
Compensation
of Directors and Senior Management
|
Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IRSA Inversiones y
Representaciones Sociedad Anónima
|
|
-
|
|
-
|
|
-
|
|
12
|
|
-
|
|
-
|
|
-
|
Futuros y
Opciones.Com S.A.
|
|
-
|
|
-
|
|
(1)
|
|
-
|
|
-
|
|
-
|
|
-
|
Amauta Agro S.A.
(formerly FyO Trading S.A. which changed its legal
name)
|
|
-
|
|
1
|
|
(5)
|
|
-
|
|
-
|
|
-
|
|
-
|
Sociedad
Anónima Carnes Pampeanas S.A. (formerly EAASA)
|
|
-
|
|
30
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Helmir
S.A.
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(3)
|
|
-
|
Total
Subsidiaries
|
|
-
|
|
31
|
|
(6)
|
|
12
|
|
-
|
|
(3)
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Associates
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agro-Uranga
S.A.
|
|
-
|
|
3
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Total
Associates
|
|
-
|
|
3
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Subsidiaries
of the subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Emprendimiento
Recoleta S.A.
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(2)
|
|
-
|
Panamerican Mall
S.A.
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(2)
|
|
-
|
IRSA Propiedades
Comerciales S.A.
|
|
(1)
|
|
-
|
|
-
|
|
33
|
|
-
|
|
(4)
|
|
-
|
Granos
Olavarría S.A.
|
|
-
|
|
61
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Total
Subsidiaries of the subsidiaries
|
|
(1)
|
|
61
|
|
-
|
|
33
|
|
-
|
|
(8)
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
related parties
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Estudio Zang,
Bergel & Viñes
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
-
|
|
-
|
Inversiones
Financieras del Sur S.A.
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
9
|
|
-
|
Total
Other related parties
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
9
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Directors
and Senior Management
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Directors
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(6)
|
Senior
Management
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(2)
|
Total
Directors and Senior Management
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(8)
|
|
|
(1)
|
|
95
|
|
(6)
|
|
45
|
|
(1)
|
|
(2)
|
|
(8)
|
Related
party
|
|
Sale
of goods and/or services
|
|
Purchase
of goods and/or services
|
|
Corporate
services
|
|
Financial
operations
|
|
Compensation
of Directors and Senior Management
|
Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
IRSA Inversiones y
Representaciones Sociedad Anónima
|
|
-
|
|
-
|
|
7
|
|
1
|
|
-
|
Futuros y
Opciones.Com S.A.
|
|
1
|
|
(2)
|
|
-
|
|
-
|
|
-
|
Sociedad
Anónima Carnes Pampeanas S.A. (formerly EAASA)
|
|
11
|
|
-
|
|
-
|
|
-
|
|
-
|
Total
Subsidiaries
|
|
12
|
|
(2)
|
|
7
|
|
1
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
Associates
|
|
|
|
|
|
|
|
|
|
|
Agro-Uranga
S.A.
|
|
1
|
|
-
|
|
-
|
|
-
|
|
-
|
Total
Associates
|
|
1
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
Subsidiaries
of the subsidiaries
|
|
|
|
|
|
|
|
|
|
|
Emprendimiento
Recoleta S.A.
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
-
|
Panamerican Mall
S.A.
|
|
-
|
|
-
|
|
-
|
|
(3)
|
|
-
|
IRSA Propiedades
Comerciales S.A.
|
|
-
|
|
-
|
|
18
|
|
(2)
|
|
-
|
Granos
Olavarría S.A.
|
|
5
|
|
-
|
|
-
|
|
-
|
|
-
|
Total
Subsidiaries of the subsidiaries
|
|
5
|
|
-
|
|
18
|
|
(6)
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
Associates
of the subsidiaries
|
|
|
|
|
|
|
|
|
|
|
Banco Hipotecario
S.A.
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
-
|
Total
Associates of the subsidiaries
|
|
-
|
|
-
|
|
-
|
|
(1)
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
Other
related parties
|
|
|
|
|
|
|
|
|
|
|
Inversiones
Financieras del Sur S.A.
|
|
-
|
|
-
|
|
-
|
|
2
|
|
-
|
Total
Other related parties
|
|
-
|
|
-
|
|
-
|
|
2
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
Directors
and Senior Management
|
|
|
|
|
|
|
|
|
|
|
Directors
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(5)
|
Senior
Management
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1)
|
Total
Directors and Senior Management
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(6)
|
|
|
18
|
|
(2)
|
|
25
|
|
(4)
|
|
(6)
|
Exhibit A -
Property, plant and equipment
|
Note 7 - Investment
properties
|
|
Note 8 - Property,
plant and equipment
|
Exhibit B -
Intangible assets
|
Note 9 - Intangible
assets
|
Exhibit C - Equity
investments
|
Note 6 -
Investments in subsidiaries, associates and joint
ventures
|
Exhibit D - Other
investments
|
Note 12 - Financial
instruments by category
|
Exhibit E –
Provisions
|
Note 13 - Trade and
other receivables
|
|
Note 17 -
Provisions
|
Exhibit F - Cost of
sales and services
|
Note 30 - Cost of
sales and services provided
|
Exhibit G - Foreign
currency assets and liabilities
|
Note 31 - Foreign
currency assets and liabilities
|
Exhibit H - Exhibit
of expenses
|
Note 23 - Expenses
by nature
|
Description
|
Biological assets
|
Inventories
|
Others
|
Total as of 09.30.16
|
Total as of 09.30.15
|
Beginning of the year
|
547
|
491
|
-
|
1,038
|
743
|
|
|
|
|
|
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
72
|
-
|
-
|
72
|
29
|
|
|
|
|
|
|
Changes
in net realizable value of agricultural produce after
harvest
|
-
|
(92)
|
-
|
(92)
|
(8)
|
|
|
|
|
|
|
Increase
due to harvest
|
-
|
451
|
-
|
451
|
81
|
Purchases
and classifications
|
12
|
144
|
-
|
156
|
105
|
Consume
|
-
|
(88)
|
-
|
(88)
|
(48)
|
Expenses
incurred
|
-
|
-
|
2
|
2
|
3
|
End of the period
|
(584)
|
(592)
|
-
|
(1,176)
|
(707)
|
Costs as of 09.30.16
|
47
|
314
|
2
|
363
|
-
|
Costs as of 09.30.15
|
48
|
147
|
3
|
-
|
198
|
Items
|
|
Amount
of foreign currency
|
|
Prevailing
exchange rate (1)
|
|
Total
as of 09.30.16
|
|
Amount
of foreign currency
|
|
Prevailing
exchange rate (2)
|
|
Total
as of 06.30.16
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
US
Dollar
|
|
1
|
|
15.210
|
|
9
|
|
1
|
|
14.940
|
|
9
|
Total cash and cash equivalents
|
|
|
|
|
|
9
|
|
|
|
|
|
9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade and other receivables
|
|
|
|
|
|
|
|
|
|
|
|
|
US
Dollar
|
|
2
|
|
15.210
|
|
23
|
|
1
|
|
14.940
|
|
8
|
Receivables with related parties:
|
|
|
|
|
|
|
|
|
|
|
|
|
US
Dollar
|
|
2
|
|
15.310
|
|
23
|
|
1
|
|
15.040
|
|
15
|
Brazilian
Reais
|
|
1
|
|
4.900
|
|
5
|
|
1
|
|
4.200
|
|
4
|
Total trade and other receivables
|
|
|
|
|
|
51
|
|
|
|
|
|
27
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade and other payables
|
|
|
|
|
|
|
|
|
|
|
|
|
US
Dollar
|
|
2
|
|
15.310
|
|
33
|
|
1
|
|
15.040
|
|
29
|
Payables with related parties:
|
|
|
|
|
|
|
|
|
|
|
|
|
US
Dollar
|
|
-
|
|
15.310
|
|
6
|
|
-
|
|
15.040
|
|
9
|
Brazilian
Reais
|
|
1
|
|
4.900
|
|
5
|
|
1
|
|
4.400
|
|
4
|
Total trade and other payables
|
|
|
|
|
|
44
|
|
|
|
|
|
42
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivative financial instruments
|
|
|
|
|
|
|
|
|
|
|
|
|
US
Dollar
|
|
-
|
|
15.310
|
|
-
|
|
1
|
|
15.040
|
|
14
|
Total derivative instruments
|
|
|
|
|
|
-
|
|
|
|
|
|
14
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Borrowings
|
|
|
|
|
|
|
|
|
|
|
|
|
US
Dollar
|
|
292
|
|
15.310
|
|
4,464
|
|
253
|
|
15.040
|
|
3,789
|
Total borrowings
|
|
|
|
|
|
4,464
|
|
|
|
|
|
3,789
|
Documentation storage provider
|
|
Location
|
Bank
S.A.
|
|
Ruta
Panamericana Km 37,5, Garín, Province of Buenos
Aires
|
|
|
Av.
Fleming 2190, Munro, Province of Buenos Aires
|
|
|
Carlos
Pellegrini 1401, Avellaneda, Province of Buenos Aires
|
|
|
|
Iron
Mountain Argentina S.A.
|
|
Av.
Amancio Alcorta 2482, Autonomous City of Buenos Aires
|
|
Pedro
de Mendoza 2143, Autonomous City of Buenos Aires
|
|
|
Saraza
6135, Autonomous City of Buenos Aires
|
|
|
Azara
1245, Autonomous City of Buenos Aires
|
|
|
Polígono
industrial Spegazzini, Autopista Ezeiza Km 45, Cañuelas,
Province of Buenos Aires
|
|
|
|
Cañada
de Gomez 3825, Autonomous City of Buenos Aires
|
Items
|
Falling
due
(Point
3.a.)
|
Without term (Point
3.b.)
|
Without term (Point
3.b.)
|
To be due (Point
3.c.)
|
Total
|
||||||||
09.30.16
|
Current
|
Non-current
|
Up to 3
months
|
From 3 to
6
months
|
From 6 to
9
months
|
From 9 to
12
months
|
From 1 to
2
years
|
From 2 to
3
years
|
From 3 to
4
years
|
From 4 years
on
|
|||
Accounts
receivables
|
Trade and other
receivables
|
-
|
50
|
-
|
502
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
552
|
|
Income tax credit
and deferred income tax
|
-
|
-
|
871
|
34
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
905
|
|
Total
|
-
|
50
|
871
|
536
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
1,457
|
Liabilities
|
Trade and other
payables
|
-
|
24
|
|
299
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
323
|
|
Borrowings
|
-
|
-
|
-
|
495
|
54
|
25
|
307
|
1,421
|
774
|
1,214
|
238
|
4,528
|
|
Payroll and social
security liabilities
|
-
|
-
|
-
|
28
|
13
|
-
|
13
|
-
|
-
|
-
|
-
|
54
|
|
Provisions
|
-
|
-
|
17
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
17
|
|
Total
|
-
|
24
|
17
|
822
|
67
|
25
|
320
|
1,421
|
774
|
1,214
|
238
|
4,922
|
Items
|
Current
|
Non-current
|
Total
|
|||||||
Local
Currency
|
Foreign
currency
|
Total
|
Local
Currency
|
Foreign
currency
|
Total
|
Local
Currency
|
Foreign
currency
|
Total
|
||
|
||||||||||
Accounts
receivables
|
Trade and other
receivables
|
501
|
51
|
552
|
-
|
-
|
-
|
501
|
51
|
552
|
|
Income tax credit
and deferred income tax
|
34
|
-
|
34
|
871
|
-
|
871
|
905
|
-
|
905
|
|
Total
|
535
|
51
|
586
|
871
|
-
|
871
|
1,406
|
51
|
1,457
|
Liabilities
|
Trade and other
payables
|
281
|
42
|
323
|
-
|
-
|
-
|
281
|
42
|
323
|
|
Borrowings
|
469
|
412
|
881
|
-
|
3,647
|
3,647
|
469
|
4,059
|
4,528
|
|
Payroll and social
security liabilities
|
54
|
-
|
54
|
-
|
-
|
-
|
54
|
-
|
54
|
|
Provisions
|
-
|
-
|
-
|
17
|
-
|
17
|
17
|
-
|
17
|
|
Total
|
804
|
454
|
1,258
|
17
|
3,647
|
3,664
|
821
|
4,101
|
4,922
|
Items
|
Current
|
Non-current
|
Accruing
interest
|
Non
Accruing
interest
|
Total
|
||||||||
Accruing
interest
|
Non-accruing
interest
|
Subtotal
|
Accruing
interest
|
Non-accruing
interest
|
Subtotal
|
||||||||
Fixed
|
Floating
|
Fixed
|
Floating
|
Fixed
|
Floating
|
||||||||
Accounts
receivables
|
Trade and other
receivables
|
-
|
1
|
551
|
552
|
-
|
-
|
-
|
-
|
-
|
1
|
551
|
552
|
|
Income tax credit
and deferred income tax
|
-
|
-
|
34
|
34
|
-
|
-
|
871
|
871
|
-
|
-
|
905
|
905
|
|
Total
|
-
|
1
|
585
|
586
|
-
|
-
|
871
|
871
|
-
|
1
|
1,456
|
1,457
|
Liabilities
|
Trade and other
payables
|
-
|
-
|
323
|
323
|
-
|
-
|
-
|
-
|
-
|
-
|
323
|
323
|
|
Borrowings
|
603
|
222
|
56
|
881
|
3,474
|
175
|
(2)
|
3,647
|
4,077
|
397
|
54
|
4,528
|
|
Payroll and social
security liabilities
|
-
|
-
|
54
|
54
|
-
|
-
|
-
|
-
|
-
|
-
|
54
|
54
|
|
Provisions
|
-
|
-
|
-
|
-
|
-
|
-
|
17
|
17
|
-
|
-
|
17
|
17
|
|
Total
|
603
|
222
|
433
|
1,258
|
3,474
|
175
|
15
|
3,664
|
4,077
|
397
|
448
|
4,922
|
Name of the entity
|
Place of business / Country of incorporation
|
Principal activity
(*)
|
% of ownership interest held by the Group
|
Direct equity interest:
|
|
|
|
Brasilagro-Companhía
Brasileira de Propiedades Agrícolas (1)
|
Brazil
|
Agricultural
|
40.94%
|
Agropecuaria
Santa Cruz de la Sierra S.A. (formerly Doneldon S.A.)
|
Uruguay
|
Investment
|
100%
|
Futuros
y Opciones.Com S.A.
|
Argentina
|
Brokerage
|
59.59%
|
Helmir
S.A.
|
Uruguay
|
Investment
|
100.00%
|
IRSA
|
Argentina
|
Real
State
|
63,38%
(2)
|
Amauta Agro S.A.
(formerly FyO Trading S.A. due to change of corporate
name)
|
Argentina
|
Brokerage
|
2.20%
|
Sociedad
Anónima Carnes Pampeanas S.A.
|
Argentina
|
Agro-industrial
|
99.04%
|
Agrouranga
S.A.
|
Argentina
|
Agricultural
|
35.72%
|
Granos
de Olavarría S.A.
|
Argentina
|
Warehousing
and brokerage
|
2.20%
|
Agrofy
S.A
|
Argentina
|
Advertising
|
45.23%
|
Insured
property
|
Risk
covered
|
Amount
insured
Ps.
|
Book
value
Ps.
|
Buildings,
machinery, silos, installation and furniture and
equipment
|
Theft, fire and
technical insurance
|
551
|
490
|
Vehicles
|
Third parties,
theft, fire and civil liability
|
17
|
7
|
PRICE WATERHOUSE
& CO. S.R.L.
(Socio)
|
C.P.C.E.C.A.B.A.
Tº 1 Fº 17
|
Dr. Carlos
Martín Barbafina
Contador
Público (UCA)
C.P.C.E.C.A.B.A.
T° 175 F° 65
|
In ARS million
|
IQ 2017
|
IQ 2016
|
YoY Var
|
Revenues
|
19,750.0
|
1,624.0
|
1116.1%
|
Costs
|
(14,519.0)
|
(1,195.0)
|
1115.0%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
382.0
|
206.0
|
85.4%
|
Changes
in the net realizable value of agricultural produce after
harvest
|
(98.0)
|
(9.0)
|
988.9%
|
Gross profit
|
5,515.0
|
626.0
|
781.0%
|
Gain
from disposal sale of investment properties
|
19.0
|
384.0
|
-95.1%
|
Gain
from disposal sale of farmlands
|
73
|
-
|
-
|
General
and administrative expenses
|
(1,022.0)
|
(194.0)
|
426.8%
|
Selling
expenses
|
(3,431.0)
|
(147.0)
|
2234.0%
|
Other
operating results, net
|
(21.0)
|
11.0
|
-
|
Profit from operations
|
1,133.0
|
680.0
|
66.6%
|
Share
of loss of associates and joint ventures
|
(55.0)
|
(497.0)
|
-88.9%
|
Profit from operations before financing and taxation
|
1,078.0
|
183.0
|
489.1%
|
Financial
results, net
|
(1,565.0)
|
(447.0)
|
250.1%
|
Loss before income tax
|
(487.0)
|
(264.0)
|
84.5%
|
Income
tax
|
(28.0)
|
(92.0)
|
-69.6%
|
Loss
for the period from continuing operations
|
(515.0)
|
(356.0)
|
44.7%
|
Loss
from discounted operations after income tax
|
(358)
|
-
|
-
|
Loss for the period
|
(873.0)
|
(356.0)
|
145.2%
|
|
|
|
|
Attributable
to:
|
|
|
|
Cresud’s Shareholders
|
(485.0)
|
(288.0)
|
68.4%
|
Non-controlling
interest
|
(388.0)
|
(68.0)
|
470.6%
|
|
3M 2017
|
3M 2016
|
|
||||||
|
|
Urban Properties and Investments
|
|
|
|
|
|
||
|
Agri
|
Argentina
|
Israel
|
Subtotal
|
Total
|
Agri
|
Urban
|
Total
|
YoY Var
|
Revenues
|
1,120.0
|
957.0
|
17,399.0
|
18,356.0
|
19,476.0
|
681.0
|
721.0
|
1,402.0
|
1,289.1%
|
Costs
|
(1,311.0)
|
(247.0)
|
(12,676.0)
|
(12,923.0)
|
(14,234.0)
|
(782.0)
|
(180.0)
|
(962.0)
|
1,378.5%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
384.0
|
-
|
-
|
-
|
384.0
|
206.0
|
-
|
206.0
|
86.4%
|
Changes
in the net realizable value of agricultural produce after
harvest
|
(98.0)
|
-
|
-
|
-
|
(98.0)
|
(9.0)
|
-
|
(9.0)
|
988.9%
|
Gross profit
|
95.0
|
710.0
|
4,723.0
|
5,433.0
|
5,528.0
|
96.0
|
541.0
|
637.0
|
767.8%
|
Gain
from disposal of investment properties
|
-
|
-
|
19.0
|
19.0
|
19.0
|
-
|
384.0
|
384.0
|
-95.0%
|
Gain
from disposal of farmlands
|
73.0
|
-
|
-
|
-
|
73.0
|
-
|
-
|
-
|
-
|
General
and administrative expenses
|
(90.0)
|
(152.0)
|
(784.0)
|
(936.0)
|
(1,026.0)
|
(64.0)
|
(132.0)
|
(196.0)
|
423.5%
|
Selling
expenses
|
(136.0)
|
(87.0)
|
(3,210.0)
|
(3,297.0)
|
(3,433.0)
|
(92.0)
|
(56.0)
|
(148.0)
|
2219.6%
|
Gain
from business combinations
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Other
operating results, net
|
40.0
|
(12.0)
|
(49.0)
|
(61.0)
|
(21.0)
|
24.0
|
(14.0)
|
10.0
|
-310.0%
|
(loss) / Profit from operations
|
(18.0)
|
459.0
|
699.0
|
1,158.0
|
1,140.0
|
(36.0)
|
723.0
|
687.0
|
65.9%
|
Share
of (loss) / profit of associates
|
(8.0)
|
37.0
|
75.0
|
112.0
|
104.0
|
(1.0)
|
(493.0)
|
(494.0)
|
-121.0%
|
Segment (Loss) / Profit
|
(26.0)
|
496.0
|
774.0
|
1,270.0
|
1,244.0
|
(37.0)
|
230.0
|
193.0
|
544.5%
|
|
Productive Lands
|
Land Reserves
|
|||
|
Agricultural
|
Cattle / Milk
|
Under Development
|
Reserved
|
Total
|
Argentina
|
64,685
|
160,799
|
1,770
|
329,413
|
556,667
|
Brazil
|
38,282
|
6,155
|
13,539
|
73,010
|
130,986
|
Bolivia
|
6,811
|
-
|
-
|
5,722
|
12,533
|
Paraguay
|
5,800
|
1,451
|
776
|
50,726
|
58,754
|
Total
|
115,578
|
168,405
|
16,085
|
458,871
|
758,940
|
(*)
Includes Brazil at 100%, Cresca at 50%, Agro-Uranga at 35.723% and
132,000 hectares under concession.
(**)
Includes 85,000 hectares intended for sheep breeding.
|
|
||||
|
In ARS Million
|
IQ 2017
|
IQ 2016
|
YoY Var
|
Revenues
|
-
|
-
|
-
|
Costs
|
(3.0)
|
(2.0)
|
(50.0%)
|
Gross loss
|
(3.0)
|
(2.0)
|
(50.0%)
|
Gain
from disposal of farmlands
|
-
|
-
|
-
|
Profit / (loss) from operations
|
68.0
|
(2.0)
|
-
|
Segment profit / (loss)
|
68.0
|
(2.0)
|
-
|
Area under Development (hectares)
|
Developed in 2015/2016
|
Projected for 2016/2017
|
Argentina*
|
2,910
|
1,770
|
Brazil
|
4,415
|
9,601
|
Paraguay (1)
|
1,364
|
1,553
|
Total
|
8,689
|
12,924
|
In ARS Million
|
IQ 2017
|
IQ 2016
|
YoY Var
|
Revenues
|
387.0
|
270.0
|
43.3%
|
Costs
|
(523.0)
|
(308.0)
|
69.8%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
191.0
|
98.0
|
94.9%
|
Changes
in the net realizable value of agricultural produce after
harvest
|
(98.0)
|
(9.0)
|
988.9%
|
Gross profit
|
(43.0)
|
51.0
|
(184.3%)
|
General
and administrative expenses
|
(46.0)
|
(37.0)
|
24.3%
|
Selling
expenses
|
(91.0)
|
(63.0)
|
44.4%
|
Other
operating results, net
|
45.0
|
23.0
|
95.7%
|
Loss from operations
|
(135.0)
|
(26.0)
|
419.2%
|
Share
of loss of associates
|
(5.0)
|
-
|
-
|
Segment loss
|
(140.0)
|
(26.0)
|
438.5%
|
In ARS Million
|
IQ 2017
|
IQ 2016
|
YoY Var
|
Revenues
|
162.0
|
102.0
|
58.8%
|
Costs
|
(246.0)
|
(146.0)
|
68.5%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
112.0
|
64.0
|
75.0%
|
Changes
in the net realizable value of agricultural produce after
harvest
|
-
|
-
|
-
|
Gross profit
|
28.0
|
20.0
|
40.0%
|
General
and administrative expenses
|
(11.0)
|
(6.0)
|
83.3%
|
Selling
expenses
|
(3.0)
|
(3.0)
|
0.0%
|
Other
operating results, net
|
(4.0)
|
-
|
-
|
Profit from operations
|
10.0
|
11.0
|
(9.1%)
|
Share
of profit / (loss) of associates and joint ventures
|
-
|
-
|
-
|
Segment profit
|
10.0
|
11.0
|
(9.1%)
|
Production Volume (1)
|
3M17
|
3M16
|
3M15
|
3M14
|
3M13
|
Corn
|
223,377
|
165,041
|
211,212
|
72,693
|
83,717
|
Soybean
|
-
|
256
|
837
|
975
|
323
|
Wheat
|
-
|
58
|
-
|
-
|
664
|
Sorghum
|
298
|
298
|
1,335
|
3,699
|
5,078
|
Sunflower
|
-
|
-
|
208
|
-
|
-
|
Others
|
816
|
2,959
|
1,718
|
536
|
1,660
|
Total Crops (tons)
|
224,491
|
168,612
|
215,310
|
77,903
|
91,442
|
Sugarcane (tons)
|
441,851
|
556,485
|
415,760
|
437,407
|
450,334
|
Volume of
|
3M17
|
3M16
|
3M15
|
3M14
|
3M13
|
||||||||||
Sales (1)
|
D.M.
|
F.M.
|
Total
|
D.M.
|
F.M.
|
Total
|
D.M.
|
F.M.
|
Total
|
D.M.
|
F.M.
|
Total
|
D.M.
|
F.M.
|
Total
|
Corn
|
121.8
|
0.0
|
121.8
|
62.6
|
23.6
|
86.2
|
150.9
|
0.0
|
150.9
|
138.3
|
0.0
|
138.3
|
92.1
|
10.2
|
102.3
|
Soybean
|
29.8
|
0.0
|
29.8
|
41.3
|
8.6
|
49.9
|
36.7
|
14.2
|
50.9
|
49.8
|
3.0
|
52.8
|
22.2
|
5.5
|
27.7
|
Wheat
|
0.4
|
0.1
|
0.5
|
5.1
|
28.9
|
34.0
|
0.2
|
0.0
|
0.2
|
0.2
|
0.0
|
0.2
|
4.3
|
0.0
|
4.3
|
Sorghum
|
0.1
|
0.0
|
0.1
|
0.1
|
0.0
|
0.1
|
0.3
|
0.0
|
0.3
|
2.4
|
0.0
|
2.4
|
3.5
|
0.0
|
3.5
|
Sunflower
|
0.7
|
0.0
|
0.7
|
0.6
|
0.0
|
0.6
|
1.7
|
0.0
|
1.7
|
5.7
|
0.0
|
5.7
|
1.7
|
0.0
|
2
|
Others
|
1.5
|
0.0
|
1.5
|
1.1
|
0.0
|
1.1
|
0.0
|
0.0
|
0.0
|
5.4
|
0.0
|
5.4
|
5
|
0.0
|
5
|
Total Crops (thousands of tons)
|
154.4
|
0.1
|
154.5
|
110.8
|
61.1
|
171.9
|
189.8
|
14.2
|
204.0
|
201.8
|
3.0
|
204.8
|
129.0
|
15.7
|
144.7
|
Sugarcane (thousands of tons)
|
441.9
|
0.0
|
441.9
|
554.0
|
0.0
|
554.0
|
415.8
|
0.0
|
415.8
|
455.4
|
0.0
|
455.4
|
355.6
|
0.0
|
355.6
|
Area in
Operation - Crops (hectares) 1
|
As of 09/30/16
|
As of 09/30/15
|
YoY Var
|
Own
farms
|
103,424
|
108,906
|
(5.0%)
|
Leased
farms
|
61,856
|
39,804
|
55.4%
|
Farms
under concession
|
22,574
|
24,602
|
(8.2%)
|
Own
farms leased to third parties
|
8,417
|
2,573
|
227.2%
|
Total Area Assigned to Crop Production
|
196,270
|
175,885
|
11.6%
|
Production Volume (1)
|
3M17
|
3M16
|
3M15
|
3M14
|
3M13
|
Cattle
herd (tons)
|
1,918
|
1,546
|
1,151
|
1,712
|
1,638
|
Milking
cows (tons)
|
174
|
135
|
119
|
107
|
97
|
Cattle (tons)
|
2,092
|
1,681
|
1,270
|
1,819
|
1,735
|
Milk (thousands of liters)
|
4,078
|
4,539
|
4,560
|
4,771
|
4,093
|
Volume of
|
3M17
|
3M16
|
3M15
|
3M14
|
3M13
|
||||||||||
Sales (1)
|
D.M.
|
F.M.
|
Total
|
D.M.
|
F.M.
|
Total
|
D.M.
|
F.M.
|
Total
|
D.M.
|
F.M.
|
Total
|
D.M.
|
F.M.
|
Total
|
Cattle
herd
|
2.1
|
0.0
|
2.1
|
3.1
|
0.0
|
3.1
|
4.0
|
0.0
|
4.0
|
4.0
|
0.0
|
4.0
|
2.3
|
0.0
|
2.3
|
Milking
cows
|
0.2
|
0.0
|
0.2
|
0.2
|
0.0
|
0.2
|
0.1
|
0.0
|
0.1
|
0.2
|
0.0
|
0.2
|
0.1
|
0.0
|
0.1
|
Cattle (thousands of tons)
|
2.3
|
0.0
|
2.3
|
3.3
|
0.0
|
3.3
|
4.1
|
0.0
|
4.1
|
4.2
|
0.0
|
4.2
|
2.4
|
0.0
|
2.4
|
Milk (millions of liters)
|
3.9
|
0.0
|
3.9
|
4.4
|
0.0
|
4.4
|
4.4
|
0.0
|
4.4
|
4.6
|
0.0
|
4.6
|
4.0
|
0.0
|
4.0
|
D.M.:
Domestic market
|
F.M.:
Foreign market
(1)
Includes CRESCA at 50%.
|
In ARS million
|
IQ 2017
|
IQ 2016
|
YoY Var
|
Revenues
|
61.0
|
58.0
|
5.1%
|
Costs
|
(105.0)
|
(79.0)
|
32.9%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce
|
59.0
|
28.0
|
110.7%
|
Changes
in the net realizable value of agricultural produce
|
-
|
-
|
-
|
Gross profit
|
15.0
|
7.0
|
114.3%
|
Loss from operations
|
(8.0)
|
(8.0)
|
-
|
Segment Loss
|
(8.0)
|
(8.0)
|
-
|
Area in operation – Cattle (hectares) (1)
|
As of 09/30/16
|
As of 09/30/15
|
YoY Var
|
Own
farms
|
79,611
|
73,007
|
9.0%
|
Leased
farms
|
12,635
|
12,635
|
-
|
Farms
under concession
|
1,451
|
820
|
77.0%
|
Own
farms leased to third parties
|
70
|
5,953
|
(98.8%)
|
Total Area Assigned to Cattle Production
|
93,767
|
92,415
|
1.5%
|
Stock of Cattle Herds
|
As of 09/30/16
|
As of 09/30/15
|
Breeding
stock
|
62,634
|
55,278
|
Winter
grazing stock
|
7,873
|
6,887
|
Milk
farm stock
|
4,972
|
5,438
|
Total Stock (heads)
|
75,479
|
67,603
|
In ARS Million
|
IQ 2017
|
IQ 2016
|
YoY Var
|
Revenues
|
20.0
|
18.0
|
11.1%
|
Costs
|
(42.0)
|
(34.0)
|
23.5%
|
Initial
recognition and changes in the fair value of biological assets and
agricultural produce at the point of harvest
|
22.0
|
16.0
|
37.5%
|
Gross profit
|
-
|
-
|
-
|
Loss from operations
|
(2.0)
|
(3.0)
|
(33.3%)
|
Segment loss
|
(2.0)
|
(3.0)
|
(33.3%)
|
Milk Production
|
09/30/2016
|
09/30/2015
|
Daily
average milking cows (heads)
|
1,777
|
1,946
|
Milk
Production / Milking Cow / Day (liters)
|
24.14
|
24.90
|
Area in Operation – Dairy (hectares)
|
As of 09/30/16
|
As of 09/30/15
|
YoY Var
|
Own
farms
|
2,273
|
2,780
|
-18.2%
|
In ARS Million
|
IQ 17
|
IQ 16
|
YoY Var
|
Revenues
|
18,687
|
968
|
1,830.5%
|
Operating
Income
|
1,147
|
724
|
58.4%
|
Depreciation
and amortization
|
1,409
|
54
|
2,509.3%
|
EBITDA
|
2,556
|
778
|
228.5%
|
Net
loss
|
-782
|
-316
|
147.5%
|
Attributable
to controlling company’s shareholders
|
-577
|
-276
|
109.1%
|
Attributable
to non-controlling interest
|
-205
|
-40
|
412.5%
|
June 30, 2016 (for the period running from 04/01 to
06/30)
|
|||||||
Israeli Operating Center
|
|||||||
|
Real Estate
|
Supermarkets
|
Agrochemical
|
Telecommunications
|
Insurance
|
Other
|
Total
|
Revenues
|
1,049
|
11,535
|
-
|
3,901
|
-
|
914
|
17,399
|
Costs
|
-612
|
-8,615
|
-
|
-2,608
|
-
|
-841
|
-12,676
|
Gross profit
|
437
|
2,920
|
-
|
1,293
|
-
|
73
|
4,723
|
Gain
from sale of investment properties
|
|
|
|
|
|
19
|
19
|
General
and administrative expenses
|
-63
|
-149
|
-
|
-388
|
-
|
-184
|
-784
|
Selling
expenses
|
-19
|
-2,307
|
-
|
-818
|
-
|
-66
|
-3,210
|
Other
operating results, net
|
-
|
-15
|
-
|
-7
|
-
|
-27
|
-49
|
Operating income / (loss)
|
355
|
449
|
-
|
80
|
-
|
-185
|
699
|
Share
of profit / (loss) of associates and joint ventures
|
-63
|
-
|
157
|
-
|
-
|
-19
|
75
|
Segment profit / (loss)
|
292
|
449
|
157
|
80
|
-
|
-204
|
774
|
|
|
|
|
|
|
|
|
Operating
assets
|
58,565
|
29,057
|
11,240
|
28,982
|
4,792
|
15,645
|
148,281
|
Operating
liabilities
|
-48,115
|
-23,021
|
-11,272
|
-23,228
|
|
-28,609
|
-134,245
|
Operating assets / (liabilities), net
|
10,450
|
6,036
|
-32
|
5,754
|
4,792
|
-12,964
|
14,456
|
Description
|
Currency
|
Amount (1)
|
Interest Rate
|
Maturity
|
Bank
overdrafts
|
ARS
|
4.2
|
Floating
|
<
30 days
|
CP
Bank Loan
|
ARS
|
0.3
|
Floating
|
<
365 days
|
Banco
Ciudad Loan
|
USD
|
13.0
|
Libor
180 days + 300 bps; floor: 6%
|
18-Jan-22
|
Banco
de la Pampa Loan
|
ARS
|
0.4
|
floating
[10.5% ; 14.5%]
|
03-Jul-17
|
Cresud
2018 NCN, Series XIV
|
USD
|
32.0
|
1.500%
|
22-May-18
|
Cresud
2018 NCN, Series XVI
|
USD
|
109.1
|
1.500%
|
19-Nov-18
|
Cresud
2019 NCN, Series XVIII
|
USD
|
33.7
|
4.00%
|
12-Sep-19
|
Cresud
2017 NCN, Series XX
|
USD
|
18.2
|
2.50%
|
13-Mar-17
|
Cresud
2017 NCN, Series XXI
|
ARS
|
12.6
|
27.5%
/ Badlar + 375 bps
|
01-Feb-17
|
Cresud
2019 NCN, Series XXII
|
USD
|
22.7
|
4.50%
|
12-Aug-19
|
Banco
de la Provincia de Buenos Aires loan
|
USD
|
15.0
|
3.50%
|
21-Oct-16
|
Santander
Río loan
|
USD
|
40.0
|
5.60%
|
30-Jun-31
|
Futuros
y Opciones Comm. 5449 mortgage loan
|
ARS
|
0.0
|
15.25%
|
28-Dec-16
|
Bolivia
Loan
|
BOB
|
0.5
|
6.00%
|
20-Jun-16
|
CRESUD’s Total Debt
|
|
301.7
|
|
|
Brasilagro’s Total Debt
|
|
18.0
|
|
|
Description
|
Currency
|
Amount (1)
|
Interest Rate
|
Maturity
|
|
Bank overdrafts
|
ARS
|
3.5
|
Variable
|
< 180 days
|
|
IRSA 2017 NCN,
Series I
|
USD
|
74.6
|
8.50%
|
Feb-17
|
|
IRSA 2020 NCN,
Series II
|
USD
|
71.4
|
11.50%
|
Jul-20
|
|
Series VI NCN
|
ARS
|
0.7
|
Badlar + 450 bps
|
Feb-17
|
|
Series VII NCN
|
ARS
|
25.1
|
Badlar + 299
|
Sep-19
|
|
Series VII NCN
|
USD
|
184.5
|
7.00%
|
Sep-19
|
|
Loans(2)
|
USD
|
45.0
|
Variable
|
Jun-17
|
|
Other loans
|
|
0.4
|
|
|
|
IRSA’s Total Debt
|
|
405.1
|
|
|
|
IRSA’s Cash & Cash
Equivalents+Investments(3)
|
USD
|
89.8
|
|
|
|
IRSA’s Net Debt
|
USD
|
315.3
|
|
|
|
Bank overdrafts
|
ARS
|
2.2
|
Variable
|
< 360 d
|
|
IRCP NCN, Series I
|
ARS
|
26.6
|
26.5% / Badlar + 400 bps
|
may-17
|
|
IRSA CP NCN, Series II
|
USD
|
360.0
|
8.75%
|
mar-23
|
|
Other loans
|
ARS
|
0.5
|
-
|
-
|
|
IRSA CP’s Total Debt
|
|
389.3
|
|
|
|
IRSA CP’s Cash & Cash Equivalents+Investments
(4)
|
USD
|
194.8
|
|
|
|
IRSA CP’s Net Debt
|
USD
|
194.5
|
|
|
|
(1) Principal amount in USD (million) at an exchange
rate of ARS 15.31/USD, without considering accrued interest or
eliminations of balances with subsidiaries.
|
(2) Corresponds to a loan from IRSA
CP.
(3) “IRSA’s Cash & Cash Equivalents
plus Investments” includes IRSA’s Cash & Cash
Equivalents + IRSA’s Investments in current and non-current
financial assets.
(4) “IRSA CP’s Cash & Cash Equivalents
plus Investments” includes IRSA CP’s Cash & Cash
Equivalents + Investments in current financial assets and a loan
from its controlling company IRSA Inversiones y Representaciones
S.A.
|
Description
|
|
Amount (1)
|
IDBD’s
Total Debt
|
|
730
|
DIC’s
Total Debt
|
|
1,090
|
Shufersal’s
Total Debt
|
|
652
|
Cellcom’s
Total Debt
|
|
1,059
|
PBC’s
Total Debt
|
|
2,349
|
Others’ Total Debt (2)
|
|
59
|
(1)
Principal amount in USD (million) at an exchange rate of 3.82
NIS/USD, without considering accrued interest or elimination of
balances with subsidiaries. Includes bonds and loans.
(2)
Includes IDB Tourism, Bartan and IDBG.
|
In ARS Million
|
Sept-16
|
Sept-15
|
Sept-14
|
Sept-13
|
Sept-12
|
Current
assets
|
61,341
|
4,698
|
4,125
|
2,805
|
2,060
|
Non-current
assets
|
109,125
|
11,054
|
11,022
|
9,864
|
8,526
|
Total
assets
|
170,466
|
15,752
|
15,146
|
12,668
|
10,586
|
Current
liabilities
|
52,193
|
4,096
|
3,807
|
2,913
|
2,081
|
Non-current
liabilities
|
102,687
|
7,831
|
6,921
|
4,978
|
3,767
|
Total
liabilities
|
154,880
|
11,927
|
10,728
|
7,891
|
5,847
|
Third
party interest (or non-controlling interest)
|
14,889
|
2,267
|
2,594
|
2,310
|
2,170
|
Shareholders’
equity
|
15,586
|
3,825
|
4,418
|
4,777
|
4,739
|
Total
liabilities plus third party interests (or non-controlling
interest) plus Shareholders’ Equity
|
170,466
|
15,752
|
15,146
|
12,668
|
10,586
|
In ARS Million
|
Sept-16
|
Sept-15
|
Sept-14
|
Sept-13
|
Sept-12
|
Gross
profit
|
5,515
|
626
|
532
|
358
|
321
|
Profit
from Operations
|
1,133
|
680
|
596
|
162
|
176
|
Share
of profit / (loss) of associates and joint ventures
|
-55
|
-497
|
-103
|
38
|
16
|
Profit
from operations before financing and taxation
|
1,078
|
183
|
494
|
200
|
192
|
Financial
results, net
|
-1,565
|
-447
|
-341
|
-334
|
-169
|
Profit
/ (Loss) before income tax
|
-487
|
-264
|
153
|
-134
|
24
|
Income
Tax
|
-28
|
-92
|
-131
|
45
|
-16
|
Profit/(Loss)
from continuous operations
|
-515
|
-356
|
22
|
-89
|
8
|
Results
of discontinuous operations after tax
|
-358
|
-
|
-
|
-
|
-
|
(Loss)
/ profit for the period
|
-873
|
-356
|
22
|
-89
|
8
|
Controlling
company’s shareholders
|
-485
|
-288
|
-122
|
-98
|
-17
|
Non-controlling
interest
|
-388
|
-68
|
144
|
9
|
25
|
|
|
|
|
|
|
(Loss)
/ profit for the period
|
-873
|
-356
|
22
|
-89
|
8
|
Other
comprehensive income / (loss) for the period (1)
|
955
|
-316
|
532
|
358
|
321
|
Total
comprehensive income / (loss) for the period
|
82
|
-672
|
596
|
162
|
176
|
Controlling
company’s shareholders
|
-145
|
-395
|
-103
|
38
|
16
|
Non-controlling
interest
|
227
|
-277
|
494
|
200
|
192
|
(1) Corresponds to translation differences
|
|
|
|
|
|
In ARS Million
|
Sept-16
|
Sept-15
|
Sept-14
|
Sept-13
|
Sept-12
|
Net
cash generated by / (used in) operating activities
|
2,412
|
346
|
327
|
372
|
391
|
Net
cash generated by / (used in) investing activities
|
-1,162
|
-34
|
1,152
|
-522
|
-200
|
Net
cash generated by / (used in) financing activities
|
319
|
123
|
-1,018
|
-303
|
-248
|
Total
cash generated by or used during the period
|
1,569
|
435
|
460
|
-453
|
-57
|
In ARS Million
|
Sep-16
|
Sep-15
|
Sep-14
|
Sep-13
|
Sep-12
|
Liquidity (1)
|
1.175
|
1.147
|
1.084
|
0.963
|
0.990
|
Solvency (2)
|
0.101
|
0.321
|
0.412
|
0.605
|
0.810
|
Restricted assets (3)
|
0.640
|
0.702
|
0.728
|
0.779
|
0.805
|
Profitability (only annual) (4)
|
-0.033
|
-0.093
|
0.005
|
-0.019
|
0.002
|
(1)
Current Assets / Current Liabilities
|
|
|
|||
(2)
Total Shareholders’ Equity / Total Liabilities
|
|
|
|||
(3)
Non-current Assets / Total Assets
|
|
|
|||
(4)
Profit / (loss) (excluding other Comprehensive Profit / (Loss)) /
Total Average Shareholders’ Equity
|
|
|