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Segment information (Tables)
 12 Months Ended
Dec. 31, 2018
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:
 
 
2018
 
2017
Total reportable assets as per segment information
1,776,003

 
1,163,044

Intangible assets (excluding goodwill)
6,559

 
4,780

Deferred income tax assets
16,191

 
30,808

Trade and other receivables
197,506

 
172,214

Other assets
1,192

 
565

Derivative financial instruments
6,286

 
4,483

Cash and cash equivalents
273,635

 
269,195

Total assets as per the statement of financial position
2,277,372

 
1,645,089

 

 
2018
 
2017
Total reportable liabilities as per segment information
862,116

 
817,958

Trade and other payables
106,437

 
99,250

Deferred income tax liabilities
168,171

 
10,457

Payroll and social liabilities
27,197

 
28,507

Provisions for other liabilities
3,625

 
4,843

Current income tax liabilities
1,398

 
503

Derivative financial instruments
283

 
552

Total liabilities as per the statement of financial position
1,169,227

 
962,070

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, 2018
 
Farming
 
Sugar,
Ethanol and Energy
 
 Land Transformation
 
Corporate
 
 Total
 
Crops
 
Rice
 
Dairy
 
All other
segments
 
Farming
subtotal
 
 
 
 
Sales of goods and services rendered
164,538

 
100,013

 
33,201

 
1,919

 
299,671

 
510,938

 
—

 
—

 
810,609

Cost of goods sold and services rendered
(165,988
)
 
(75,739
)
 
(31,488
)
 
(1,412
)
 
(274,627
)
 
(348,616
)
 
—

 
—

 
(623,243
)
Initial recognition and changes in fair value of biological assets and agricultural produce
36,422

 
8,967

 
7,295

 
(806
)
 
51,878

 
(20,853
)
 
—

 
—

 
31,025

Changes in net realizable value of agricultural produce after harvest
2,704

 
—

 
—

 
—

 
2,704

 
—

 
—

 
—

 
2,704

Margin on manufacturing and agricultural activities before operating expenses
37,676

 
33,241

 
9,008

 
(299
)
 
79,626

 
141,469

 
—

 
—

 
221,095

General and administrative expenses
(4,239
)
 
(5,070
)
 
(2,034
)
 
(155
)
 
(11,498
)
 
(25,302
)
 
—

 
(19,626
)
 
(56,426
)
Selling expenses
(5,921
)
 
(15,465
)
 
(983
)
 
(165
)
 
(22,534
)
 
(69,442
)
 
—

 
(178
)
 
(92,154
)
Other operating income, net
5,422

 
275

 
(1,055
)
 
10,668

 
15,310

 
48,357

 
36,227

 
(167
)
 
99,727

Profit / (loss) from operations before financing and taxation
32,938

 
12,981

 
4,936

 
10,049

 
60,904

 
95,082

 
36,227

 
(19,971
)
 
172,242

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
(1,697
)
 
(5,846
)
 
(2,253
)
 
(171
)
 
(9,967
)
 
(143,202
)
 
—

 
—

 
(153,169
)
Net gain from Fair value adjustment of investment property
—

 
—

 
—

 
10,680

 
10,680

 
—

 
—

 
—

 
10,680

Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized)
8,205

 
(181
)
 
(599
)
 
102

 
7,527

 
(37,808
)
 
—

 
—

 
(30,281
)
Initial recognition and changes in fair value of biological assets and agricultural produce (realized)
28,217

 
9,148

 
7,894

 
(908
)
 
44,351

 
16,955

 
—

 
—

 
61,306

Changes in net realizable value of agricultural produce after harvest (unrealized)
(647
)
 
—

 
—

 
—

 
(647
)
 
—

 
—

 
—

 
(647
)
Changes in net realizable value of agricultural produce after harvest (realized)
3,351

 
—

 
—

 
—

 
3,351

 
—

 
—

 
—

 
3,351

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Farmlands and farmland improvements, net
547,842

 
173,481

 
727

 
22,891

 
744,941

 
51,567

 
—

 
—

 
796,508

Machinery, equipment and other fixed assets, net
5,049

 
23,135

 
32,821

 
459

 
61,464

 
338,607

 
—

 
—

 
400,071

Bearer plants, net
427

 
—

 
—

 
—

 
427

 
232,529

 
—

 
—

 
232,956

Work in progress
8,690

 
5,214

 
14,317

 
18

 
28,239

 
22,665

 
—

 
—

 
50,904

Investment property
—

 
—

 
—

 
40,725

 
40,725

 
—

 
—

 
—

 
40,725

Goodwill
9,463

 
4,142

 
—

 
2,110

 
15,715

 
5,635

 
—

 
—

 
21,350

Biological assets
27,347

 
17,173

 
10,298

 
3,094

 
57,912

 
47,475

 
—

 
—

 
105,387

Finished goods
29,144

 
9,507

 
1,170

 
—

 
39,821

 
39,937

 
—

 
—

 
79,758

Raw materials, stocks held by third parties and others
15,834

 
7,394

 
2,217

 
121

 
25,566

 
22,778

 
—

 
—

 
48,344

Total segment assets
643,796

 
240,046

 
61,550

 
69,418

 
1,014,810

 
761,193

 
—

 
—

 
1,776,003

Borrowings
111,692

 
58,999

 
543

 
4,860

 
176,094

 
600,810

 
—

 
85,212

 
862,116

Total segment liabilities
111,692

 
58,999

 
543

 
4,860

 
176,094

 
600,810

 
—

 
85,212

 
862,116











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

 
4,279

 
13,384

 
30,419

 
—

 
(40
)
 
43,763

Profit / (loss) from operations before financing and taxation
24,167

 
8,328

 
11,206

 
4,699

 
48,400

 
102,852

 
—

 
(21,664
)
 
129,588

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
(1,511
)
 
(3,851
)
 
(1,037
)
 
(159
)
 
(6,558
)
 
(144,449
)
 
—

 
—

 
(151,007
)
Net gain from Fair value adjustment of investment property
—

 
—

 
—

 
4,302

 
4,302

 
—

 
—

 
—

 
4,302

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
70,126

 
13,688

 
248

 
9,346

 
93,408

 
26,342

 
—

 
—

 
119,750

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
—

 
—

 
—

 
42,342

 
42,342

 
—

 
—

 
—

 
42,342

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
166,527

 
84,079

 
29,146

 
59,351

 
339,103

 
823,941

 
—

 
—

 
1,163,044

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

 
22,546

 
14,847

 
(8,903
)
 
—

 
(192
)
 
5,752

Profit / (loss) from operations before financing and taxation
26,093


8,932


4,753


22,942


62,720


142,835


—


(20,957
)

184,598

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
(1,369
)
 
(2,766
)
 
(964
)
 
(192
)
 
(5,291
)
 
(122,209
)
 
—

 
—

 
(127,500
)
Net gain from Fair value adjustment of investment property
—

 
—

 
—

 
14,049

 
14,049

 
—

 
—

 
—

 
14,049

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
)
Disclosure of geographical areas
As of and for the year ended December 31, 2018:
 
Argentina
 
Brazil
 
Uruguay
 
Total
Property, plant and equipment
811,890

 
656,586

 
11,963

 
1,480,439

Investment property
40,725

 
—

 
—

 
40,725

Goodwill
15,081

 
6,269

 
—

 
21,350

Non-current portion of biological assets
11,270

 
—

 
—

 
11,270

 
 
 
 
 
 
 
 
Sales of goods and services rendered
207,480

 
496,966

 
106,163

 
810,609

Initial recognition and changes in fair value of biological assets and agricultural produce
45,985

 
(13,541
)
 
(1,419
)
 
31,025

Changes in net realizable value of agricultural produce after harvest
1,148

 
1,436

 
120

 
2,704

 
As of and for the year ended December 31, 2017:
 
Argentina
 
Brazil
 
Uruguay
 
Total
Property, plant and equipment
113,758

 
710,523

 
7,096

 
831,377

Investment property
42,342

 
—

 
—

 
42,342

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

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
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
)