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Segment information (Tables) | 12 Months Ended
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Dec. 31, 2017
Operating Segments [Abstract] |
Disclosure of operating segments | Total reportable segments’ assets and liabilities are reconciled to total assets as per the statement of financial position as follows:
| 2017 |  | 2016
Total reportable assets as per segment information | 1,112,527 |  |  | 1,075,837 |
Intangible assets (excluding goodwill) | 4,780 |  |  | 3,847 |
Deferred income tax assets | 43,437 |  |  | 38,586 |
Trade and other receivables | 172,214 |  |  | 174,940 |
Other assets | 565 |  |  | 590 |
Derivative financial instruments | 4,483 |  |  | 3,398 |
Cash and cash equivalents | 269,195 |  |  | 158,568 |
Total assets as per the statement of financial position | 1,607,201 |  |  | 1,455,766 |
| 2017 |  | 2016
Total reportable liabilities as per segment information | 817,958 |  |  | 635,396 |
Trade and other payables | 99,250 |  |  | 93,585 |
Deferred income tax liabilities | 10,457 |  |  | 14,689 |
Payroll and social liabilities | 28,507 |  |  | 28,079 |
Provisions for other liabilities | 4,843 |  |  | 3,889 |
Current income tax liabilities | 503 |  |  | 1,387 |
Derivative financial instruments | 552 |  |  | 7,068 |
Total liabilities as per the statement of financial position | 962,070 |  |  | 784,093 |
The following table presents information with respect to the Group’s reportable segments. Certain other activities of a holding function nature not allocable to the segments are disclosed in the column ‘Corporate’. Segment analysis for the year ended December 31, 2017
| Farming |  | Sugar, Ethanol and Energy |  | Land Transformation |  | Corporate |  | Total
| Crops |  | Rice |  | Dairy |  | All other segments |  | Farming subtotal |  |  |  |
Sales of goods and services rendered | 197,222 |  |  | 86,478 |  |  | 37,523 |  |  | 1,336 |  |  | 322,559 |  |  | 610,619 |  |  | — |  |  | — |  |  | 933,178 |
Cost of goods sold and services rendered | (196,302 | ) |  | (71,087 | ) |  | (36,979 | ) |  | (853 | ) |  | (305,221 | ) |  | (461,506 | ) |  | — |  |  | — |  |  | (766,727 | )
Initial recognition and changes in fair value of biological assets and agricultural produce | 17,158 |  |  | 10,236 |  |  | 11,769 |  |  | 267 |  |  | 39,430 |  |  | 23,790 |  |  | — |  |  | — |  |  | 63,220 |
Changes in net realizable value of agricultural produce after harvest | 8,852 |  |  | — |  |  | — |  |  | — |  |  | 8,852 |  |  | — |  |  | — |  |  | — |  |  | 8,852 |
Margin on manufacturing and agricultural activities before operating expenses | 26,930 |  |  | 25,627 |  |  | 12,313 |  |  | 750 |  |  | 65,620 |  |  | 172,903 |  |  | — |  |  | — |  |  | 238,523 |
General and administrative expenses | (2,981 | ) |  | (4,699 | ) |  | (1,058 | ) |  | (174 | ) |  | (8,912 | ) |  | (26,806 | ) |  | — |  |  | (21,581 | ) |  | (57,299 | )
Selling expenses | (7,501 | ) |  | (13,324 | ) |  | (711 | ) |  | (156 | ) |  | (21,692 | ) |  | (73,664 | ) |  | — |  |  | (43 | ) |  | (95,399 | )
Other operating income, net | 7,719 |  |  | 724 |  |  | 662 |  |  | (23 | ) |  | 9,082 |  |  | 30,419 |  |  | — |  |  | (40 | ) |  | 39,461 |
Share of loss of joint ventures | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Profit / (loss) from operations before financing and taxation | 24,167 |  |  | 8,328 |  |  | 11,206 |  |  | 397 |  |  | 44,098 |  |  | 102,852 |  |  | — |  |  | (21,664 | ) |  | 125,286 |
Depreciation and amortization | (1,511 | ) |  | (3,851 | ) |  | (1,037 | ) |  | (159 | ) |  | (6,558 | ) |  | (144,449 | ) |  | — |  |  | — |  |  | (151,007 | )
Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized) | 4,366 |  |  | 5,346 |  |  | 1,849 |  |  | 159 |  |  | 11,720 |  |  | 2,925 |  |  | — |  |  | — |  |  | 14,645 |
Initial recognition and changes in fair value of biological assets and agricultural produce (realized) | 12,792 |  |  | 4,890 |  |  | 9,920 |  |  | 108 |  |  | 27,710 |  |  | 20,865 |  |  | — |  |  | — |  |  | 48,575 |
Changes in net realizable value of agricultural produce after harvest (unrealized) | 2,371 |  |  | — |  |  | — |  |  | — |  |  | 2,371 |  |  | — |  |  | — |  |  | — |  |  | 2,371 |
Changes in net realizable value of agricultural produce after harvest (realized) | 6,481 |  |  | — |  |  | — |  |  | — |  |  | 6,481 |  |  | — |  |  | — |  |  | — |  |  | 6,481 |
Farmlands and farmland improvements, net | 59,680 |  |  | 13,688 |  |  | 248 |  |  | 9,346 |  |  | 82,962 |  |  | 26,342 |  |  | — |  |  | — |  |  | 109,304 |
Machinery, equipment and other fixed assets, net | 21,365 |  |  | 18,851 |  |  | 12,175 |  |  | 341 |  |  | 52,732 |  |  | 390,350 |  |  | — |  |  | — |  |  | 443,082 |
Bearer plants, net | 252 |  |  | — |  |  | — |  |  | 1,832 |  |  | 2,084 |  |  | 236,826 |  |  | — |  |  | — |  |  | 238,910 |
Work in progress | 714 |  |  | 1,940 |  |  | 5,659 |  |  | — |  |  | 8,313 |  |  | 21,322 |  |  | — |  |  | — |  |  | 29,635 |
Investment property | — |  |  | — |  |  | — |  |  | 2,271 |  |  | 2,271 |  |  | — |  |  | — |  |  | — |  |  | 2,271 |
Goodwill | 3,221 |  |  | 1,480 |  |  | — |  |  | 1,110 |  |  | 5,811 |  |  | 6,601 |  |  | — |  |  | — |  |  | 12,412 |
Biological assets | 31,745 |  |  | 29,717 |  |  | 9,338 |  |  | 4,016 |  |  | 74,816 |  |  | 93,178 |  |  | — |  |  | — |  |  | 167,994 |
Finished goods | 21,146 |  |  | 8,476 |  |  | — |  |  | — |  |  | 29,622 |  |  | 32,266 |  |  | — |  |  | — |  |  | 61,888 |
Raw materials, stocks held by third parties and others | 17,958 |  |  | 9,927 |  |  | 1,726 |  |  | 364 |  |  | 29,975 |  |  | 17,056 |  |  | — |  |  | — |  |  | 47,031 |
Total segment assets | 156,081 |  |  | 84,079 |  |  | 29,146 |  |  | 19,280 |  |  | 288,586 |  |  | 823,941 |  |  | — |  |  | — |  |  | 1,112,527 |
Borrowings | 69,789 |  |  | 62,790 |  |  | 2,384 |  |  | 3,829 |  |  | 138,792 |  |  | 633,638 |  |  | — |  |  | 45,528 |  |  | 817,958 |
Total segment liabilities | 69,789 |  |  | 62,790 |  |  | 2,384 |  |  | 3,829 |  |  | 138,792 |  |  | 633,638 |  |  | — |  |  | 45,528 |  |  | 817,958 |
Segment analysis for the year ended December 31, 2016
| Farming |  | Sugar, Ethanol and Energy |  | Land Transformation |  | Corporate |  | Total
| Crops |  | Rice |  | Dairy |  | All other segments |  | Farming subtotal |  |  |  |
Sales of goods and services rendered | 142,124 |  |  | 96,562 |  |  | 32,897 |  |  | 960 |  |  | 272,543 |  |  | 596,692 |  |  | — |  |  | — |  |  | 869,235 |
Cost of goods sold and services rendered | (141,731 | ) |  | (83,574 | ) |  | (32,571 | ) |  | (212 | ) |  | (258,088 | ) |  | (420,493 | ) |  | — |  |  | — |  |  | (678,581 | )
Initial recognition and changes in fair value of biological assets and agricultural produce | 48,790 |  |  | 10,498 |  |  | 5,476 |  |  | (13 | ) |  | 64,751 |  |  | 60,705 |  |  | — |  |  | — |  |  | 125,456 |
Changes in net realizable value of agricultural produce after harvest | (5,841 | ) |  | — |  |  | — |  |  | — |  |  | (5,841 | ) |  | — |  |  | — |  |  | — |  |  | (5,841 | )
Margin on manufacturing and agricultural activities before operating expenses | 43,342 |  |  | 23,486 |  |  | 5,802 |  |  | 735 |  |  | 73,365 |  |  | 236,904 |  |  | — |  |  | — |  |  | 310,269 |
General and administrative expenses | (2,770 | ) |  | (3,373 | ) |  | (983 | ) |  | (290 | ) |  | (7,416 | ) |  | (22,648 | ) |  | — |  |  | (20,686 | ) |  | (50,750 | )
Selling expenses | (5,692 | ) |  | (11,583 | ) |  | (752 | ) |  | (49 | ) |  | (18,076 | ) |  | (62,518 | ) |  | — |  |  | (79 | ) |  | (80,673 | )
Other operating income, net | (8,787 | ) |  | 402 |  |  | 686 |  |  | 8,497 |  |  | 798 |  |  | (8,903 | ) |  | — |  |  | (192 | ) |  | (8,297 | )
Share of loss of joint ventures | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Profit / (loss) from operations before financing and taxation | 26,093 |  |  | 8,932 |  |  | 4,753 |  |  | 8,893 |  |  | 48,671 |  |  | 142,835 |  |  | — |  |  | (20,957 | ) |  | 170,549 |
Depreciation and amortization | (1,369 | ) |  | (2,766 | ) |  | (964 | ) |  | (192 | ) |  | (5,291 | ) |  | (122,209 | ) |  | — |  |  | — |  |  | (127,500 | )
Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized) | 5,790 |  |  | 2,316 |  |  | 1,319 |  |  | 107 |  |  | 9,532 |  |  | 279 |  |  | — |  |  | — |  |  | 9,811 |
Initial recognition and changes in fair value of biological assets and agricultural produce (realized) | 43,000 |  |  | 8,182 |  |  | 4,157 |  |  | (120 | ) |  | 55,219 |  |  | 60,426 |  |  | — |  |  | — |  |  | 115,645 |
Changes in net realizable value of agricultural produce after harvest (unrealized) | (90 | ) |  | — |  |  | — |  |  | — |  |  | (90 | ) |  | — |  |  | — |  |  | — |  |  | (90 | )
Changes in net realizable value of agricultural produce after harvest (realized) | (5,751 | ) |  | — |  |  | — |  |  | — |  |  | (5,751 | ) |  | — |  |  | — |  |  | — |  |  | (5,751 | )
Farmlands and farmland improvements, net | 68,224 |  |  | 18,868 |  |  | 168 |  |  | 5,504 |  |  | 92,764 |  |  | 26,734 |  |  | — |  |  | — |  |  | 119,498 |
Machinery, equipment and other fixed assets, net | 3,892 |  |  | 14,949 |  |  | 7,449 |  |  | 467 |  |  | 26,757 |  |  | 418,543 |  |  | — |  |  | — |  |  | 445,300 |
Bearer plants, net | — |  |  | — |  |  | — |  |  | 1,860 |  |  | 1,860 |  |  | 214,309 |  |  | — |  |  | — |  |  | 216,169 |
Work in progress | 1,100 |  |  | 3,274 |  |  | 2,727 |  |  | — |  |  | 7,101 |  |  | 14,540 |  |  | — |  |  | — |  |  | 21,641 |
Investment property | — |  |  | — |  |  | — |  |  | 2,666 |  |  | 2,666 |  |  | — |  |  | — |  |  | — |  |  | 2,666 |
Goodwill | 3,782 |  |  | 1,737 |  |  | — |  |  | 1,186 |  |  | 6,705 |  |  | 6,700 |  |  | — |  |  | — |  |  | 13,405 |
Biological assets | 28,189 |  |  | 25,575 |  |  | 6,827 |  |  | 2,433 |  |  | 63,024 |  |  | 82,380 |  |  | — |  |  | — |  |  | 145,404 |
Finished goods | 13,415 |  |  | 5,474 |  |  | — |  |  | — |  |  | 18,889 |  |  | 49,302 |  |  | — |  |  | — |  |  | 68,191 |
Raw materials,Stocks held by third parties and others | 16,147 |  |  | 6,628 |  |  | 2,060 |  |  | — |  |  | 24,835 |  |  | 18,728 |  |  | — |  |  | — |  |  | 43,563 |
Total segment assets | 134,749 |  |  | 76,505 |  |  | 19,231 |  |  | 14,116 |  |  | 244,601 |  |  | 831,236 |  |  | — |  |  | — |  |  | 1,075,837 |
Borrowings | 43,878 |  |  | 47,156 |  |  | 616 |  |  | 10,449 |  |  | 102,099 |  |  | 533,297 |  |  | — |  |  | — |  |  | 635,396 |
Total segment liabilities | 43,878 |  |  | 47,156 |  |  | 616 |  |  | 10,449 |  |  | 102,099 |  |  | 533,297 |  |  | — |  |  | — |  |  | 635,396 |
Segment analysis for the year ended December 31, 2015
| Farming |  | Sugar, Ethanol and Energy |  | Land Transformation |  | Corporate |  | Total
| Crops |  | Rice |  | Dairy |  | All other segments |  | Farming subtotal |  |  |  |
Sales of goods and services rendered | 154,741 |  |  | 84,668 |  |  | 32,981 |  |  | 1,302 |  |  | 273,692 |  |  | 400,622 |  |  | — |  |  | — |  |  | 674,314 |
Cost of goods sold and services rendered | (154,287 | ) |  | (69,075 | ) |  | (33,030 | ) |  | (603 | ) |  | (256,995 | ) |  | (300,791 | ) |  | — |  |  | — |  |  | (557,786 | )
Initial recognition and changes in fair value of biological assets and agricultural produce | 11,561 |  |  | 2,822 |  |  | 7,542 |  |  | (181 | ) |  | 21,744 |  |  | 32,784 |  |  | — |  |  | — |  |  | 54,528 |
Changes in net realizable value of agricultural produce after harvest | 14,691 |  |  | — |  |  | — |  |  | — |  |  | 14,691 |  |  | — |  |  | — |  |  | — |  |  | 14,691 |
Margin on manufacturing and agricultural activities before operating expenses | 26,706 |  |  | 18,415 |  |  | 7,493 |  |  | 518 |  |  | 53,132 |  |  | 132,615 |  |  | — |  |  | — |  |  | 185,747 |
General and administrative expenses | (3,987 | ) |  | (3,136 | ) |  | (1,451 | ) |  | (74 | ) |  | (8,648 | ) |  | (18,301 | ) |  | — |  |  | (21,476 | ) |  | (48,425 | )
Selling expenses | (5,672 | ) |  | (12,592 | ) |  | (663 | ) |  | (49 | ) |  | (18,976 | ) |  | (50,729 | ) |  | — |  |  | (563 | ) |  | (70,268 | )
Other operating income, net | 16,422 |  |  | 600 |  |  | (479 | ) |  | 6 |  |  | 16,549 |  |  | 6,340 |  |  | 7,914 |  |  | 263 |  |  | 31,066 |
Share of loss of joint ventures | (2,685 | ) |  | — |  |  | — |  |  | — |  |  | (2,685 | ) |  | — |  |  | — |  |  | — |  |  | (2,685 | )
Profit / (loss) from operations before financing and taxation | 30,784 |  |  | 3,287 |  |  | 4,900 |  |  | 401 |  |  | 39,372 |  |  | 69,925 |  |  | 7,914 |  |  | (21,776 | ) |  | 95,435 |
Reserve from the sale of non-controlling interests in subsidiaries (see Note 21) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 16,066 |  |  | — |  |  | 16,066 |
Depreciation and amortization | (2,427 | ) |  | (2,987 | ) |  | (1,456 | ) |  | (276 | ) |  | (7,146 | ) |  | (97,255 | ) |  | — |  |  | — |  |  | (104,401 | )
Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized) | 2,234 |  |  | 587 |  |  | — |  |  | 207 |  |  | 3,028 |  |  | 8,298 |  |  | — |  |  | — |  |  | 11,326 |
Initial recognition and changes in fair value of biological assets and agricultural produce (realized) | 9,327 |  |  | 2,235 |  |  | 7,542 |  |  | (388 | ) |  | 18,716 |  |  | 24,486 |  |  | — |  |  | — |  |  | 43,202 |
Changes in net realizable value of agricultural produce after harvest (unrealized) | 4,406 |  |  | — |  |  | — |  |  | — |  |  | 4,406 |  |  | — |  |  | — |  |  | — |  |  | 4,406 |
Changes in net realizable value of agricultural produce after harvest (realized) | 10,285 |  |  | — |  |  | — |  |  | — |  |  | 10,285 |  |  | — |  |  | — |  |  | — |  |  | 10,285 |
Disclosure of geographical areas | As of and for the year ended December 31, 2017:
| Argentina |  | Brazil |  | Uruguay |  | Total
Property, plant and equipment | 103,312 |  |  | 710,523 |  |  | 7,096 |  |  | 820,931 |
Investment property | 2,271 |  |  | — |  |  | — |  |  | 2,271 |
Goodwill | 5,095 |  |  | 7,317 |  |  | — |  |  | 12,412 |
Non-current portion of biological assets | 11,276 |  |  | — |  |  | — |  |  | 11,276 |
Sales of goods and services rendered | 214,888 |  |  | 545,859 |  |  | 172,431 |  |  | 933,178 |
Initial recognition and changes in fair value of biological assets and agricultural produce | 36,341 |  |  | 26,326 |  |  | 553 |  |  | 63,220 |
(Loss) from changes in net realizable value of agricultural produce after harvest | 5,705 |  |  | 1,346 |  |  | 1,801 |  |  | 8,852 |
As of and for the year ended December 31, 2016:
| Argentina |  | Brazil |  | Uruguay |  | Total
Property, plant and equipment | 101,513 |  |  | 694,137 |  |  | 6,958 |  |  | 802,608 |
Investment property | 2,666 |  |  | — |  |  | — |  |  | 2,666 |
Goodwill | 5,980 |  |  | 7,425 |  |  | — |  |  | 13,405 |
Non-current portion of biological assets | 8,516 |  |  | — |  |  | — |  |  | 8,516 |
Sales of goods and services rendered | 164,264 |  |  | 432,468 |  |  | 272,503 |  |  | 869,235 |
Initial recognition and changes in fair value of biological assets and agricultural produce | 62,970 |  |  | 62,556 |  |  | (70 | ) |  | 125,456 |
(Loss) from changes in net realizable value of agricultural produce after harvest | (4,491 | ) |  | (958 | ) |  | (392 | ) |  | (5,841 | )
As of and for the year ended December 31, 2015:
| Argentina |  | Brazil |  | Uruguay |  | Total
Sales of goods and services rendered | 166,447 |  |  | 295,456 |  |  | 212,411 |  |  | 674,314 |
Initial recognition and changes in fair value of biological assets and agricultural produce | 16,637 |  |  | 37,097 |  |  | 794 |  |  | 54,528 |
Gain / (Loss) from changes in net realizable value of agricultural produce after harvest | 16,139 |  |  | (32 | ) |  | (1,416 | ) |  | 14,691 |

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