XML 69 R46.htm IDEA: XBRL DOCUMENT v3.23.1

Segment information (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of operating segments [abstract]

Schedule of Operating Segments

Segment reconciliation for the year ended December 31, 2022:

			2022
			Crops																		Rice																		Dairy
			Total segment reporting						Adjustment						Total as per statement of income						Total segment reporting						Adjustment						Total as per statement of income						Total segment reporting						Adjustment						Total as per statement of income
Sales of goods sold and services rendered			275,200						(2,463)						272,737						203,686						(197)						203,489						236,222						(1,210)						235,012
Cost of goods and services rendered			(252,879)						2,217						(250,662)						(159,940)						(380)						(160,320)						(204,924)						1,039						(203,885)
Initial recognition and changes in fair value of biological assets and agricultural produce			64,133						1,441						65,574						14,802						521						15,323						27,523						(266)						27,257
Gain from changes in net realizable value of agricultural produce after harvest			(21,495)						136						(21,359)						—						—						—						—						—						—
Margin on Manufacturing and Agricultural Activities Before Operating Expenses			64,959						1,331						66,290						58,548						(56)						58,492						58,821						(437)						58,384
General and administrative expenses			(13,175)						5						(13,170)						(15,404)						169						(15,235)						(10,378)						181						(10,197)
Selling expenses			(31,672)						208						(31,464)						(34,630)						229						(34,401)						(27,050)						76						(26,974)
Other operating income, net			(1,021)						(653)						(1,674)						79						1						80						(8)						(3)						(11)
Bargain purchase gain on acquisition			—						—						—						10,070						37						10,107						—						—						—
Profit from Operations			19,091						891						19,982						18,663						380						19,043						21,385						(183)						21,202
Depreciation and amortization			(7,908)						40						(7,868)						(12,112)						97						(12,015)						(10,075)						57						(10,018)
Net (loss) / gain from Fair value adjustment of investment property			—						—						—						—						—						—						—						—						—

			2022
			All other segments																		Land transformation																		Corporate																		Total
			Total segment reporting						Adjustment						Total as per statement of income						Total segment reporting						Adjustment						Total as per statement of income						Total segment reporting						Adjustment						Total as per statement of income						Total segment reporting						Adjustment						Total as per statement of income
Sales of goods sold and services rendered			5,839						(113)						5,726						—						—						—						—						—						—						1,351,707						(3,983)						1,347,724
Cost of goods and services rendered			(5,153)						114						(5,039)						—						—						—						—						—						—						(1,078,737)						2,990						(1,075,747)
Initial recognition and changes in fair value of biological assets and agricultural produce			(336)						57						(279)						—						—						—						—						—						—						214,188						1,753						215,941
Gain from changes in net realizable value of agricultural produce after harvest			—						—						—						—						—						—						—						—						—						(22,429)						136						(22,293)
Margin on Manufacturing and Agricultural Activities Before Operating Expenses			350						58						408						—						—						—						—						—						—						464,729						896						465,625
General and administrative expenses			(220)						1						(219)						—						—						—						(23,413)						(136)						(23,549)						(84,507)						220						(84,287)
Selling expenses			(257)						4						(253)						—						—						—						(257)						(1)						(258)						(144,031)						516						(143,515)
Other operating income, net			(2,801)						(195)						(2,996)						3,699						6						3,705						(136)						21						(115)						2,693						(823)						1,870
Bargain purchase gain on acquisition			—						—						—						—						—						—						—						—						—						10,070						37						10,107
Profit from Operations			(2,928)						(132)						(3,060)						3,699						6						3,705						(23,806)						(116)						(23,922)						248,954						846						249,800
Depreciation and amortization			(212)						—						(212)						—						—						—						22						(29)						(7)						(191,205)						165						(191,040)
Net (loss) / gain from Fair value adjustment of investment property			(2,764)						(197)						(2,961)						—						—						—						—						—						—						(2,764)						(197)						(2,961)

Segment reconciliation for the year ended December 31, 2021:

			2021
			Crops																		Rice																		Dairy
			Total segment reporting						Adjustment						Total as per statement of income						Total segment reporting						Adjustment						Total as per statement of income						Total segment reporting						Adjustment						Total as per statement of income
Sales of goods sold and services rendered			228,894						11,836						240,730						130,526						4,343						134,869						172,803						10,251						183,054
Cost of goods and services rendered			(203,148)						(10,083)						(213,231)						(109,709)						(2,336)						(112,045)						(149,738)						(8,339)						(158,077)
Initial recognition and changes in fair value of biological assets and agricultural produce			65,704						8,286						73,990						37,119						6,715						43,834						18,336						1,559						19,895
Gain from changes in net realizable value of agricultural produce after harvest			(10,163)						(1,221)						(11,384)						—						—						—						—						—						—
Margin on Manufacturing and Agricultural Activities Before Operating Expenses			81,287						8,818						90,105						57,936						8,722						66,658						41,401						3,471						44,872
General and administrative expenses			(10,273)						(827)						(11,100)						(8,891)						(869)						(9,760)						(4,715)						(541)						(5,256)
Selling expenses			(21,925)						(1,494)						(23,419)						(16,618)						(1,490)						(18,108)						(20,779)						(1,793)						(22,572)
Other operating income, net			(3,538)						(185)						(3,723)						239						46						285						(150)						(20)						(170)
Profit from Operations			45,551						6,312						51,863						32,666						6,409						39,075						15,757						1,117						16,874
Depreciation and amortization			(6,501)						(634)						(7,135)						(8,080)						(814)						(8,894)						(7,144)						(797)						(7,941)
Net (loss) / gain from Fair value adjustment of investment property			—						—						—						—						—						—						—						—						—

			2021
			All other segments																		Land transformation																		Corporate																		Total
			Total segment reporting						Adjustment						Total as per statement of income						Total segment reporting						Adjustment						Total as per statement of income						Total segment reporting						Adjustment						Total as per statement of income						Total segment reporting						Adjustment						Total as per statement of income
Sales of goods sold and services rendered			3,490						199						3,689						—						—						—						—						—						—						1,097,723						26,629						1,124,352
Cost of goods and services rendered			(2,966)						(145)						(3,111)						—						—						—						—						—						—						(834,062)						(20,903)						(854,965)
Initial recognition and changes in fair value of biological assets and agricultural produce			1,380						(18)						1,362						—						—						—						—						—						—						211,198						16,542						227,740
Gain from changes in net realizable value of agricultural produce after harvest			—						—						—						—						—						—						—						—						—						(11,658)						(1,221)						(12,879)
Margin on Manufacturing and Agricultural Activities Before Operating Expenses			1,904						36						1,940						—						—						—						—						—						—						463,201						21,047						484,248
General and administrative expenses			(173)						(14)						(187)						—						—						—						(22,119)						(1,908)						(24,027)						(65,635)						(4,159)						(69,794)
Selling expenses			(273)						(17)						(290)						—						—						—						(306)						(21)						(327)						(112,847)						(4,815)						(117,662)
Other operating income, net			(3,995)						(470)						(4,465)						6,613						—						6,613						103						(21)						82						(18,118)						(650)						(18,768)
Profit from Operations			(2,537)						(465)						(3,002)						6,613						—						6,613						(22,322)						(1,950)						(24,272)						266,601						11,423						278,024
Depreciation and amortization			(175)						(15)						(190)						—						—						—						(738)						(49)						(787)						(166,619)						(2,309)						(168,928)
Net (loss) / gain from Fair value adjustment of investment property			(3,884)						(447)						(4,331)						—						—						—						—						—						—						(3,884)						(447)						(4,331)

Segment reconciliation for the year ended December 31, 2020:

			2020
			Crops																		Rice																		Dairy
			Total segment reporting						Adjustment						Total as per statement of income						Total segment reporting						Adjustment						Total as per statement of income						Total segment reporting						Adjustment						Total as per statement of income
Sales of goods sold and services rendered			170,114						(1,653)						168,461						102,886						(1,024)						101,862						135,471						(1,997)						133,474
Cost of goods and services rendered			(150,745)						1,495						(149,250)						(74,395)						565						(73,830)						(117,754)						1,747						(116,007)
Initial recognition and changes in fair value of biological assets and agricultural produce			41,777						(934)						40,843						19,449						(772)						18,677						12,638						(294)						12,344
Gain from changes in net realizable value of agricultural produce after harvest			7,078						(71)						7,007						—						—						—						(2)						—						(2)
Margin on Manufacturing and Agricultural Activities Before Operating Expenses			68,224						(1,163)						67,061						47,940						(1,231)						46,709						30,353						(544)						29,809
General and administrative expenses			(6,816)						122						(6,694)						(7,045)						146						(6,899)						(4,896)						108						(4,788)
Selling expenses			(18,265)						267						(17,998)						(14,170)						247						(13,923)						(13,824)						284						(13,540)
Other operating income, net			(12,846)						(7)						(12,853)						731						(18)						713						(189)						3						(186)
Profit from Operations			30,297						(781)						29,516						27,456						(856)						26,600						11,444						(149)						11,295
Depreciation and amortization			(5,397)						111						(5,286)						(6,652)						147						(6,505)						(6,709)						141						(6,568)
Net (loss) / gain from Fair value adjustment of investment property			—						—						—						—						—						—						—						—						—

			2020
			All other segments																		Corporate																		Total
			Total segment reporting						Adjustment						Total as per statement of income						Total segment reporting						Adjustment						Total as per statement of income						Total segment reporting						Adjustment						Total as per statement of income
Sales of goods sold and services rendered			2,545						(37)						2,508						—						—						—						822,475						(4,711)						817,764
Cost of goods and services rendered			(1,984)						22						(1,962)						—						—						—						(615,775)						3,829						(611,946)
Initial recognition and changes in fair value of biological assets and agricultural produce			1,269						(13)						1,256						—						—						—						124,742						(2,013)						122,729
Gain from changes in net realizable value of agricultural produce after harvest			—						—						—						—						—						—						7,076						(71)						7,005
Margin on Manufacturing and Agricultural Activities Before Operating Expenses			1,830						(28)						1,802						—						—						—						338,518						(2,966)						335,552
General and administrative expenses			(120)						2						(118)						(19,319)						336						(18,983)						(54,138)						710						(53,428)
Selling expenses			(217)						3						(214)						(202)						7						(195)						(95,866)						808						(95,058)
Other operating income, net			1,069						(2)						1,067						(161)						(8)						(169)						2,033						(46)						1,987
Profit from Operations			2,562						(25)						2,537						(19,682)						335						(19,347)						190,547						(1,494)						189,053
Depreciation and amortization			(138)						3						(135)						(876)						14						(862)						(142,288)						416						(141,872)
Net (loss) / gain from Fair value adjustment of investment property			1,080						(3)						1,077						—						—						—						1,080						(3)						1,077

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, 2022:

			Farming																														Sugar, Ethanol and Energy						Land Transformation						Corporate						Total
			Crops						Rice						Dairy						All other segments						Farming subtotal
Sales of goods and services rendered			275,200						203,686						236,222						5,839						720,947						630,760						—						—						1,351,707
Cost of goods sold and services rendered			(252,879)						(159,940)						(204,924)						(5,153)						(622,896)						(455,841)						—						—						(1,078,737)
Initial recognition and changes in fair value of biological assets and agricultural produce			64,133						14,802						27,523						(336)						106,122						108,066						—						—						214,188
Changes in net realizable value of agricultural produce after harvest			(21,495)						—						—						—						(21,495)						(934)						—						—						(22,429)
Margin on manufacturing and agricultural activities before operating expenses			64,959						58,548						58,821						350						182,678						282,051						—						—						464,729
General and administrative expenses			(13,175)						(15,404)						(10,378)						(220)						(39,177)						(21,917)						—						(23,413)						(84,507)
Selling expenses			(31,672)						(34,630)						(27,050)						(257)						(93,609)						(50,165)						—						(257)						(144,031)
Other operating income, net			(1,021)						79						(8)						(2,801)						(3,751)						2,881						3,699						(136)						2,693
Bargain purchase gain on acquisition			—						10,070						—						—						10,070						—						—						—						10,070
Profit / (loss) from operations			19,091						18,663						21,385						(2,928)						56,211						212,850						3,699						(23,806)						248,954
Depreciation and amortization			(7,908)						(12,112)						(10,075)						(212)						(30,307)						(160,920)						—						22						(191,205)
Net (loss) / gain from Fair value adjustment of investment property			—						—						—						(2,764)						(2,764)						—						—						—						(2,764)
Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized)			3,929						3,701						(2,276)						(2,231)						3,123						35,232						—						—						38,355
Initial recognition and changes in fair value of biological assets and agricultural produce (realized)			60,204						11,101						29,799						1,895						102,999						72,834						—						—						175,833
Changes in net realizable value of agricultural produce after harvest (unrealized)			72						—						—						—						72						—						—						—						72
Changes in net realizable value of agricultural produce after harvest (realized)			(21,567)						—						—						—						(21,567)						(934)						—						—						(22,501)
Farmlands and farmland improvements, net			457,286						149,251						2,221						56,928						665,686						78,647						—						—						744,333
Machinery, equipment and other fixed assets, net			48,691						58,827						108,589						1,792						217,899						171,307						—						—						389,206
Bearer plants, net			1,057						—						—						—						1,057						351,670						—						—						352,727
Work in progress			7,021						29,061						22,325						2,399						60,806						18,283						—						—						79,089
Right of use assest			18,952						8,594						711						—						28,257						330,681						—						1,243						360,181
Investment property			—						—						—						33,330						33,330						—						—						—						33,330
Goodwill			7,990						1,106						5,263						—						14,359						4,185						—						—						18,544
Biological assets			66,002						52,752						30,045						8,214						157,013						109,431						—						—						266,444
Finished goods			37,539						13,659						12,825						—						64,023						88,693						—						—						152,716
Raw materials, stocks held by third parties and others			62,911						22,129						8,700						291						94,031						27,275						—						—						121,306
Total segment assets			707,449						335,379						190,679						102,954						1,336,461						1,180,172						—						1,243						2,517,876
Borrowings			41,493						113,133						138,241						—						292,867						587,865						—						127,020						1,007,752
Lease liabilities			18,234						8,281						623						—						27,138						310,162						—						680						337,980
Total segment liabilities			59,727						121,414						138,864						—						320,005						898,027						—						127,700						1,345,732

Segment analysis for the year ended December 31, 2021

			Farming																														Sugar, Ethanol and Energy						Land Transformation						Corporate						Total
			Crops						Rice						Dairy						All other segments						Farming subtotal
Sales of goods and services rendered			228,894						130,526						172,803						3,490						535,713						562,010						—						—						1,097,723
Cost of goods sold and services rendered			(203,148)						(109,709)						(149,738)						(2,966)						(465,561)						(368,501)						—						—						(834,062)
Initial recognition and changes in fair value of biological assets and agricultural produce			65,704						37,119						18,336						1,380						122,539						88,659						—						—						211,198
Changes in net realizable value of agricultural produce after harvest			(10,163)						—						—						—						(10,163)						(1,495)						—						—						(11,658)
Margin on manufacturing and agricultural activities before operating expenses			81,287						57,936						41,401						1,904						182,528						280,673						—						—						463,201
General and administrative expenses			(10,273)						(8,891)						(4,715)						(173)						(24,052)						(19,464)						—						(22,119)						(65,635)
Selling expenses			(21,925)						(16,618)						(20,779)						(273)						(59,595)						(52,946)						—						(306)						(112,847)
Other operating income, net			(3,538)						239						(150)						(3,995)						(7,444)						(17,390)						6,613						103						(18,118)
Profit / (loss) from operations			45,551						32,666						15,757						(2,537)						91,437						190,873						6,613						(22,322)						266,601
Depreciation and amortization			(6,501)						(8,080)						(7,144)						(175)						(21,900)						(143,981)						—						(738)						(166,619)
Net (loss) / gain from Fair value adjustment of investment property			—						—						—						(3,884)						(3,884)						—						—						—						(3,884)
Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized)			14,399						4,117						(6,271)						8,904						21,149						(16,294)						—						—						4,855
Initial recognition and changes in fair value of biological assets and agricultural produce (realized)			51,305						33,002						24,607						(7,524)						101,390						104,953						—						—						206,343
Changes in net realizable value of agricultural produce after harvest (unrealized)			(4,001)						—						—						—						(4,001)						—						—						—						(4,001)
Changes in net realizable value of agricultural produce after harvest (realized)			(6,162)						—						—						—						(6,162)						(1,495)						—						—						(7,657)
Farmlands and farmland improvements, net			448,608						146,795						2,143						56,315						653,861						73,979						—						—						727,840
Machinery, equipment and other fixed assets, net			47,122						29,543						81,516						1,641						159,822						158,611						—						—						318,433
Bearer plants, net			892						—						—						—						892						294,090						—						—						294,982
Work in progress			3,444						33,200						27,341						1,496						65,481						15,887						—						—						81,368
Right of use assets			13,005						3,361						930						—						17,296						243,469						—						11						260,776
Investment property			—						—						—						32,132						32,132						—						—						—						32,132
Goodwill			7,074						979						4,660						—						12,713						3,913						—						—						16,626
Biological assets			54,886						42,729						18,979						7,257						123,851						71,327						—						—						195,178
Finished goods			37,225						5,015						15,157						—						57,397						80,857						—						—						138,254
Raw materials, stocks held by third parties and others			42,253						14,797						10,416						579						68,045						33,225						—						—						101,270
Total segment assets			654,509						276,419						161,142						99,420						1,191,490						975,358						—						11						2,166,859
Borrowings			31,755						34,230						62,061						—						128,046						524,461						—						165,144						817,651
Lease liabilities			14,106						4,157						924						—						19,187						227,585						—						82						246,854
Total segment liabilities			45,861						38,387						62,985						—						147,233						752,046						—						165,226						1,064,505

Segment analysis for the year ended December 31, 2020

			Farming																														Sugar, Ethanol and Energy						Land Transformation						Corporate						Total
			Crops						Rice						Dairy						All other segments						Farming subtotal
Sales of goods and services rendered			170,114						102,886						135,471						2,545						411,016						411,459						—						—						822,475
Cost of goods sold and services rendered			(150,745)						(74,395)						(117,754)						(1,984)						(344,878)						(270,897)						—						—						(615,775)
Initial recognition and changes in fair value of biological assets and agricultural produce			41,777						19,449						12,638						1,269						75,133						49,609						—						—						124,742
Changes in net realizable value of agricultural produce after harvest			7,078						—						(2)						—						7,076						—						—						—						7,076
Margin on manufacturing and agricultural activities before operating expenses			68,224						47,940						30,353						1,830						148,347						190,171						—						—						338,518
General and administrative expenses			(6,816)						(7,045)						(4,896)						(120)						(18,877)						(15,942)						—						(19,319)						(54,138)
Selling expenses			(18,265)						(14,170)						(13,824)						(217)						(46,476)						(49,188)						—						(202)						(95,866)
Other operating income, net			(12,846)						731						(189)						1,069						(11,235)						5,495						7,934						(161)						2,033
Profit / (loss) from operations			30,297						27,456						11,444						2,562						71,759						130,536						7,934						(19,682)						190,547
Depreciation and amortization			(5,397)						(6,652)						(6,709)						(138)						(18,896)						(122,516)						—						(876)						(142,288)
Net (loss) / gain from Fair value adjustment of investment property			—						—						—						1,080						1,080						—						—						—						1,080
Initial recognition and changes in fair value of biological assets and agricultural produce (unrealized)			12,211						3,975						(5,151)						2,258						13,293						19,682						—						—						32,975
Initial recognition and changes in fair value of biological assets and agricultural produce (realized)			29,566						15,474						17,789						(989)						61,840						29,927						—						—						91,767
Changes in net realizable value of agricultural produce after harvest (unrealized)			(481)						—						—						—						(481)						—						—						—						(481)
Changes in net realizable value of agricultural produce after harvest (realized)			7,559						—						(2)						—						7,557						—						—						—						7,557

Total reportable segments’ assets and liabilities are reconciled to total assets as per the statement of financial position as follows:

			2022						2021
Total reportable assets as per segment information			2,517,876						2,166,859
Intangible assets (excluding goodwill)			17,576						14,711
Deferred income tax assets			8,758						10,321
Trade and other receivables			228,378						188,080
Other assets			1,701						1,079
Derivative financial instruments			5,342						1,585
Restricted short-term investment			98,571						—
Cash and cash equivalents			230,653						199,766
Total assets as per the statement of financial position			3,108,855						2,582,401

			2022						2021
Total reportable liabilities as per segment information			1,345,732						1,064,505
Trade and other payables			259,607						169,030
Deferred income tax liabilities			301,414						265,848
Payroll and social liabilities			31,545						26,294
Provisions for other liabilities			3,435						5,986
Current income tax liabilities			422						1,625
Derivative financial instruments			3,057						1,283
Total liabilities as per the statement of financial position			1,945,212						1,534,571

Schedule of Geographical Areas

As of and for the year ended December 31, 2022:

			Argentina						Brazil						Uruguay						Others (*)						Total
Property, plant and equipment			914,444						620,065						30,846						—						1,565,355
Investment property			33,330						—						—						—						33,330
Goodwill			14,359						4,185						—						—						18,544
Non-current portion of biological assets			30,622						—						—						—						30,622
Sales of goods and services rendered			373,746						494,215						472,538						11,208						1,351,707
Initial recognition and changes in fair value of biological assets and agricultural produce			102,656						108,066						3,466						—						214,188
Changes in net realizable value of agricultural produce after harvest			(21,482)						(934)						(13)						—						(22,429)

As of and for the year ended December 31, 2021:

			Argentina						Brazil						Uruguay						Others (*)						Total
Property, plant and equipment			868,527						542,710						11,386						—						1,422,623
Investment property			32,132						—						—						—						32,132
Goodwill			12,713						3,913						—						—						16,626
Non-current portion of biological assets			19,355						—						—						—						19,355
Sales of goods and services rendered			284,026						385,959						427,661						77						1,097,723
Initial recognition and changes in fair value of biological assets and agricultural produce			120,255						88,659						2,284						—						211,198
Changes in net realizable value of agricultural produce after harvest			(9,679)						(1,496)						(483)						—						(11,658)

(*) It includes the initial operations in Chile which are not disclosed separately on materiality grounds.

As of and for the year ended December 31, 2020:

			Argentina						Brazil						Uruguay						Total
Sales of goods and services rendered			389,018						411,779						21,678						822,475
Initial recognition and changes in fair value of biological assets and agricultural produce			72,391						50,348						2,003						124,742
Changes in net realizable value of agricultural produce after harvest			6,770						(88)						394						7,076

X

- Definition

The disclosure of geographical information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 33
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_33&doctype=Standard
-URIDate 2022-03-24

+ Details

Name:	ifrs-full_DisclosureOfGeographicalAreasExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	ifrs-full_DisclosureOfOperatingSegmentsAbstract
Namespace Prefix:	ifrs-full_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of operating segments. [Refer: Operating segments [member]]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 23
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_23&doctype=Standard
-URIDate 2022-03-24

+ Details

Name:	ifrs-full_DisclosureOfOperatingSegmentsExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration