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Cash flow information
 12 Months Ended
Jun. 30, 2023
Cash flow information  
18. Cash flow information

18. Cash flow information

 

Following is a detailed description of cash flows generated by the Group’s operations for the years ended June 30, 2023, 2022 and 2021:

 

 

 

Note

 

 

06.30.2023

 

 

06.30.2022

 

 

06.30.2021

 

Profit/ (loss) for the year

 

 

 

 

 

78,179

 

 

 

135,815

 

 

 

(86,617)

Profit from discontinued operations

 

 

 

 

 

-

 

 

 

-

 

 

 

29,190

 

Adjustments for:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax

 

 

23

 

 

 

(72,721)

 

 

4,262

 

 

 

98,772

 

Amortization and depreciation

 

 

27

 

 

 

2,688

 

 

 

2,662

 

 

 

2,945

 

Gain from disposal of trading properties

 

 

 

 

 

 

(2,991)

 

 

-

 

 

 

-

 

Loss/ (gain) from disposal of property, plant and equipment

 

 

 

 

 

 

674

 

 

 

(17)

 

 

(22)

Realization of currency translation adjustment

 

 

 

 

 

 

(423)

 

 

-

 

 

 

-

 

Net loss/ (gain) from fair value adjustment of investment properties

 

 

 

 

 

 

51,677

 

 

 

(35,750)

 

 

7,940

 

Gain from disposal of subsidiary and associates

 

 

 

 

 

 

-

 

 

 

-

 

 

 

(132)

Financial results, net

 

 

 

 

 

 

(7,903)

 

 

(62,488)

 

 

(31,087)

Provisions and allowances

 

 

 

 

 

 

18,213

 

 

 

4,627

 

 

 

1,746

 

Share of (profit)/ loss of associates and joint ventures

 

 

8

 

 

 

(1,580)

 

 

420

 

 

 

15,679

 

Management fees

 

 

 

 

 

 

4,760

 

 

 

8,988

 

 

 

-

 

(Gain)/ loss from repurchase of Non-convertible Notes

 

 

 

 

 

 

(3,516)

 

 

(3,139)

 

 

88

 

Changes in net realizable value of agricultural products after harvest

 

 

 

 

 

 

2,538

 

 

 

4,307

 

 

 

2,085

 

Unrealized initial recognition and changes in fair value of biological assets and agricultural products at the point of harvest

 

 

 

 

 

 

(6,873)

 

 

(40,270)

 

 

(43,521)

Other operating results

 

 

 

 

 

 

-

 

 

 

-

 

 

 

1,188

 

Gain from disposal of farmlands

 

 

 

 

 

 

(15,026)

 

 

(11,868)

 

 

(4,631)

Granting Plan of actions

 

 

 

 

 

 

-

 

 

 

-

 

 

 

166

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Increase)/ decrease in inventories

 

 

 

 

 

 

(2,420)

 

 

444

 

 

 

(16,399)

Decrease/ (increase) in trading properties

 

 

 

 

 

 

92

 

 

 

192

 

 

 

(99)

Decrease in biological assets

 

 

 

 

 

 

22,442

 

 

 

50,182

 

 

 

41,122

 

Decrease in trade and other receivables

 

 

 

 

 

 

11,429

 

 

 

9,869

 

 

 

14,791

 

(Decrease)/ increase in trade and other payables

 

 

 

 

 

 

(34,293)

 

 

(14,278)

 

 

2,309

 

Increase/ (Decrease)in salaries and social security liabilities

 

 

 

 

 

 

676

 

 

 

164

 

 

 

(1,138)

Decrease in provisions

 

 

 

 

 

 

(79)

 

 

(621)

 

 

(548)

Decrease in lease liabilities

 

 

 

 

 

 

(3,690)

 

 

(4,107)

 

 

(5,780)

Net variation in derivative financial instruments

 

 

 

 

 

 

(99)

 

 

263

 

 

 

(7,056)

Increase in right of use assets

 

 

 

 

 

 

3

 

 

 

-

 

 

 

(177)

Net cash generated from continuing operating activities before income tax paid

 

 

 

 

 

 

41,757

 

 

 

49,657

 

 

 

20,814

 

Net cash generated from discontinued operating activities before income tax paid

 

 

 

 

 

 

-

 

 

 

-

 

 

 

11,631

 

Net cash generated from operating activities before income tax paid

 

 

 

 

 

 

41,757

 

 

 

49,657

 

 

 

32,445

 

The following table shows balances incorporated as result of business combination / deconsolidation or reclassification of assets and liabilities held for sale of subsidiaries:

 

 

 

06.30.2023

 

 

06.30.2022

 

 

06.30.2021

 

Investment properties

 

 

-

 

 

 

-

 

 

 

415,546

 

Property, plant and equipment

 

 

-

 

 

 

-

 

 

 

169,649

 

Trading properties

 

 

-

 

 

 

-

 

 

 

27,185

 

Intangible assets

 

 

-

 

 

 

-

 

 

 

129,195

 

Right-of-use assets

 

 

-

 

 

 

-

 

 

 

91,393

 

Investments in associates and joint ventures

 

 

-

 

 

 

-

 

 

 

171,253

 

Deferred income tax assets

 

 

-

 

 

 

-

 

 

 

2,007

 

Income tax credit

 

 

-

 

 

 

-

 

 

 

1,507

 

Restricted assets

 

 

-

 

 

 

-

 

 

 

29,696

 

Trade and other receivables

 

 

-

 

 

 

-

 

 

 

249,909

 

Investments in financial assets

 

 

-

 

 

 

-

 

 

 

111,862

 

Derivative financial instruments

 

 

-

 

 

 

-

 

 

 

1,300

 

Inventories

 

 

-

 

 

 

-

 

 

 

16,658

 

Group of assets held for sale

 

 

-

 

 

 

-

 

 

 

194,531

 

Borrowings

 

 

-

 

 

 

-

 

 

 

(1,503,569)

Lease liabilities

 

 

-

 

 

 

-

 

 

 

(83,768)

Deferred income tax liabilities

 

 

-

 

 

 

-

 

 

 

(57,484)

Trade and other payables

 

 

-

 

 

 

-

 

 

 

(108,709)

Income tax liabilities

 

 

-

 

 

 

-

 

 

 

(2,106)

Provisions 

 

 

-

 

 

 

-

 

 

 

(25,083)

Employee benefits

 

 

-

 

 

 

-

 

 

 

(2,205)

Derivative financial instruments

 

 

-

 

 

 

-

 

 

 

(2,205)

Salaries and social security liabilities

 

 

-

 

 

 

-

 

 

 

(15,651)

Group of liabilities held for sale

 

 

-

 

 

 

-

 

 

 

(101,829)

Net value of incorporated assets that do not affect cash

 

 

-

 

 

 

-

 

 

 

(290,918)

Cash and cash equivalents

 

 

-

 

 

 

-

 

 

 

(513,762)

Non-controlling interest

 

 

-

 

 

 

-

 

 

 

(221,013)

Net value of incorporated assets/ disposal assets

 

 

-

 

 

 

-

 

 

 

(1,025,693)

Net (outflow) inflow of cash and cash equivalents / assets and liabilities held for sale

 

 

-

 

 

 

-

 

 

 

(1,025,693)

The following table shows a detail of significant non-cash transactions occurred in the years ended June 30, 2023, 2022 and 2021:

 

 

 

06.30.2023

 

 

06.30.2022

 

 

06.30.2021

 

Increase/ (decrease) in participation in subsidiaries, associates and joint ventures due to currency translation adjustment

 

 

3,154

 

 

 

19,072

 

 

 

12,620

 

Increase in other reserves through an increase in investments in associates and joint ventures

 

 

7,627

 

 

 

366

 

 

 

20,896

 

Increase in intangible assets through a decrease in investment in associates

 

 

-

 

 

 

-

 

 

 

2,889

 

Decrease in property, plant and equipment through an increase in tax credits and tax liabilities

 

 

-

 

 

 

-

 

 

 

1,625

 

Increase in property, plant and equipment through a decrease in investment properties

 

 

-

 

 

 

-

 

 

 

7,845

 

Decrease in property, plant and equipment through an increase in equity

 

 

266

 

 

 

1,968

 

 

 

849

 

Decrease trade and other receivables through a decrease in lease liabilities

 

 

-

 

 

 

6

 

 

 

65

 

Increase in financial instruments through a decrease in trade and other receivables with related parties

 

 

-

 

 

 

-

 

 

 

153

 

Increase in trading properties through an increase in borrowings

 

 

-

 

 

 

-

 

 

 

216

 

Dividends in shares distribution

 

 

-

 

 

 

-

 

 

 

2,570

 

Increase in investment properties through an increase in borrowings

 

 

-

 

 

 

-

 

 

 

1,438

 

Increase in rights of use assets through an increase in lease liabilities

 

 

9,614

 

 

 

2,123

 

 

 

7,123

 

Barter transactions of investment properties

 

 

-

 

 

 

6,767

 

 

 

-

 

Increase in investment properties through an increase in trade and other payables

 

 

143

 

 

 

399

 

 

 

-

 

Cancellation of non-convertible notes in portfolio

 

 

-

 

 

 

18,460

 

 

 

-

 

Decrease in investment properties through an increase in property, plant and equipment

 

 

860

 

 

 

10,688

 

 

 

-

 

Decrease in property, plant and equipment through an increase in investment properties

 

 

4,629

 

 

 

2,499

 

 

 

-

 

Increase in  investment in associates and joint ventures through an increase in the reserve share-based payments

 

 

-

 

 

 

151

 

 

 

-

 

Increase in intangible assets through an increase in trade and other payables

 

 

-

 

 

 

26

 

 

 

-

 

Increase in non-convertible notes through a decrease in non-convertible notes

 

 

64,742

 

 

 

22,127

 

 

 

-

 

Increase in investment in associates through a decrease in investments in financial assets

 

 

-

 

 

 

1,865

 

 

 

-

 

Decrease in equity through an increase in deferred income tax liabilities

 

 

-

 

 

 

806

 

 

 

-

 

Increase in intangible assets through an increase in payroll and social security liabilities

 

 

-

 

 

 

56

 

 

 

-

 

Decrease in borrowings through a decrease in trade and other receivables

 

 

-

 

 

 

951

 

 

 

-

 

Increase in investment in associates and joint ventures through an decrease in investments in financial assets

 

 

-

 

 

 

97

 

 

 

-

 

Increase in dividends receivables through a decrease in investment in associates and join ventures

 

 

5

 

 

 

37

 

 

 

-

 

Capital contributions from non-controlling interest in subsidiaries through a decrease in borrowings

 

 

-

 

 

 

9

 

 

 

-

 

Capital contributions from non-controlling interest in subsidiaries through an increase in trade and other receivables

 

 

-

 

 

 

11

 

 

 

-

 

Decrease in property, plant and equipment through an increase in trade and other receivables

 

 

2,978

 

 

 

34

 

 

 

-

 

Decrease in trading properties through an increase in intangible assets

 

 

1,272

 

 

 

-

 

 

 

-

 

Increase in equity through an increase in investment properties

 

 

1,191

 

 

 

-

 

 

 

-

 

Increase in deferred income tax liabilities through a decrease in shareholders' equity

 

 

344

 

 

 

-

 

 

 

-

 

Decrease in investment properties through a decrease in financial assets

 

 

78

 

 

 

-

 

 

 

-

 

Decrease in equity through an increase in trade and other payables

 

 

191

 

 

 

-

 

 

 

-

 

Decrease in investment in financial assets through a decrease in trade and other payables

 

 

368

 

 

 

-

 

 

 

-

 

Decrease in dividends receivables through an increase in financial assets

 

 

15

 

 

 

-

 

 

 

-

 

Increase in property, plant and equipment through an increase in trade and other payables

 

 

7,541

 

 

 

-

 

 

 

-

 

Increase in investment properties through a decrease in trading properties

 

 

579

 

 

 

-

 

 

 

-

 

Increase in investment properties through a decrease in trade and other receivables

 

 

46

 

 

 

-

 

 

 

-

 

Decrease in borrowings through a decrease in trading properties

 

 

338

 

 

 

-

 

 

 

-

 

Increase in investment in financial assets through a decrease in trade and other receivables

 

 

580

 

 

 

-

 

 

 

-

 

Decrease in intangible assets through an increase in investment properties

 

 

53

 

 

 

-

 

 

 

-

 

Decrease in shareholders' equity through a decrease in financial assets

 

 

2,536

 

 

 

-

 

 

 

-

 

Decrease in shareholders' equity through a decrease in trade and other receivables

 

 

1,695

 

 

 

-

 

 

 

-

 

Increase in investment in associates through a decrease in trade and other receivables

 

 

31

 

 

 

-

 

 

 

-

 

Decrease in intangible assets through an increase in trading properties

 

 

147

 

 

 

-

 

 

 

-