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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
(Loss) / Profit for the year $ (23,233) $ 14,975 [1],[2],[3] $ 14,276 [1],[2],[3]
Adjustments for:      
Income tax (benefit) / expense (1,024) (4,992) [3] 12,899 [3]
Depreciation 153,034 150,071 [3] 126,799 [3]
Amortization 1,220 936 [3] 701 [3]
Loss from the disposal of other property items 95 986 [3] 1,255 [3]
Gain from the sale of farmland and other assets (36,227) 0 [3] 0 [3]
Net gain from the Fair value adjustment of Investment properties (13,409) (4,302) [3] (14,049) [3]
Equity settled share-based compensation granted 4,728 5,552 [3] 4,796 [3]
(Gain) / Loss from derivative financial instruments and forwards (51,504) (38,679) [3] 21,745 [3]
Interest and other financial expense, net 44,347 53,446 [3] 44,734 [3]
Initial recognition and changes in fair value of non harvested biological assets (unrealized) 30,299 (14,645) [3] (9,811) [3]
Changes in net realizable value of agricultural produce after harvest (unrealized) 647 (2,371) [3] 90 [3]
Provision and allowances 2,126 825 [3] 341 [3]
Net gain of inflation effects on the monetary items (81,928) 0 [1],[3] 0 [1],[3]
Foreign exchange losses, net 183,195 38,708 [3] 19,062 [3]
Cash flow hedge – transfer from equity 26,693 20,758 [3] 85,214 [3]
Subtotal 239,059 221,268 [3] 308,052 [3]
Changes in operating assets and liabilities:      
(Increase) in trade and other receivables (65,942) (9,476) [3] (30,996) [3]
(Increase) in inventories (41,531) (4,089) [3] (22,301) [3]
Decrease / (Increase) in biological assets 2,958 (18,013) [3] (23,677) [3]
(Increase) / Decrease in other assets (777) 2 [3] 83 [3]
Decrease / (Increase) in derivative financial instruments 50,021 40,910 [3] (17,892) [3]
Increase in trade and other payables 31,148 6,555 [3] 39,054 [3]
Increase in payroll and social security liabilities 5,876 1,953 [3] 3,052 [3]
(Decrease) / Increase in provisions for other liabilities (430) 855 [3] 1,175 [3]
Net cash generated from operating activities before taxes paid 220,382 239,965 [3] 256,550 [3]
Income tax paid (1,869) (2,860) [3] (1,149) [3]
Net cash generated from operating activities 218,513 237,105 [3],[4] 255,401 [3],[4]
Cash flows from investing activities:      
Purchases of property, plant and equipment (207,069) (198,550) [3] (132,392) [3]
Purchase of cattle and non current biological assets (5,706) (1,694) [3] (1,713) [3]
Purchases of intangible assets (3,321) (2,141) [3] (1,218) [3]
Interest received 7,915 11,230 [3] 7,671 [3]
Proceeds from disposal of other property items 1,748 2,820 [3] 2,215 [3]
Proceeds from sale of farmland and other assets 31,511 0 [3] 3,423 [3]
Net cash used in investing activities (174,922) (188,335) [3],[5] (122,014) [3],[5]
Cash flows from financing activities:      
Issuance of senior notes 0 495,678 [3] 0 [3]
Proceeds from long-term borrowings 45,536 232,433 [3] 167,385 [3]
Payments of long-term borrowings (124,349) (602,700) [3] (277,913) [3]
Proceeds from short-term borrowings 318,108 106,730 [3] 257,395 [3]
Payments of short-term borrowings (190,630) (64,787) [3] (272,033) [3]
Interest paid (50,021) (41,612) [3] (48,400) [3]
Prepayment related expenses 0 (6,080) [3] 0 [3]
Proceeds from equity settled shared-based compensation exercised 0 39 [3] 380 [3]
Payment of derivatives financial instruments (2,578) (9,476) [3] (3,724) [3]
Purchase of own shares (15,725) (38,367) [3] (4,772) [3]
Dividends paid to non-controlling interest (1,195) (1,664) [3] 0 [3]
Net cash (used) / generated from financing activities (20,854) 70,194 [3],[6] (181,682) [3],[6]
Net increase / (decrease) in cash and cash equivalents 22,737 118,964 [3] (48,295) [3]
Cash and cash equivalents at beginning of year [3] 269,195 [7] 158,568 [7] 198,894
Effect of exchange rate changes and inflation on cash and cash equivalents (18,297) (8,337) [3],[8] 7,969 [3],[8]
Cash and cash equivalents at end of year 273,635 269,195 [3],[7] 158,568 [3],[7]
Entity Information [Line Items]      
Net cash generated from operating activities 218,513 237,105 [3],[4] 255,401 [3],[4]
Net cash used in investing activities (174,922) (188,335) [3],[5] (122,014) [3],[5]
Net cash (used) / generated from financing activities (20,854) 70,194 [3],[6] (181,682) [3],[6]
Effect of exchange rate changes and inflation on cash and cash equivalents (18,297) $ (8,337) [3],[8] $ 7,969 [3],[8]
Argentine subsidiaries      
Changes in operating assets and liabilities:      
Net cash generated from operating activities [4] 7,598    
Cash flows from investing activities:      
Net cash used in investing activities [5] 4,122    
Cash flows from financing activities:      
Net cash (used) / generated from financing activities [6] (8,231)    
Effect of exchange rate changes and inflation on cash and cash equivalents [8] (3,489)    
Entity Information [Line Items]      
Net cash generated from operating activities [4] 7,598    
Net cash used in investing activities [5] 4,122    
Net cash (used) / generated from financing activities [6] (8,231)    
Effect of exchange rate changes and inflation on cash and cash equivalents [8] $ (3,489)    
[1] Prior periods have been recast to reflect the Company's change in accounting policy for Investment properties as described in Note 33.
[2] Prior periods have been recast to reflect the Company's change in accounting policy for Investment properties as described in Note 33.
[3] Prior periods have been recast to reflect the Company's change in accounting policy for Investment properties as described in Note 33.
[4] Includes 7,598 of the combine effect of IAS 29 and IAS 21 of the Argentine subsidiaries.
[5] Includes 4,122 of the combine effect of IAS 29 and IAS 21 of the Argentine subsidiaries.
[6] Includes (8,231) of the combine effect of IAS 29 and IAS 21 of the Argentine subsidiaries.
[7] Prior periods have been recast to reflect the Company's change in accounting policy for Investment properties as in Note 33.
[8] Includes (3,489) of the combine effect of IAS 29 and IAS 21 of the Argentine subsidiaries.