XML 28 R12.htm IDEA: XBRL DOCUMENT
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Segment information | 12 Months Ended
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Jun. 30, 2025
Segment information | 6. Segment information IFRS 8 requires an entity to report financial and descriptive information about its reportable segments, which are operating segments or aggregations of operating segments that meet specified criteria. Operating segments are components of an entity about which separate financial information is available that is evaluated regularly by the CODM. According to IFRS 8, the CODM represents a function whereby strategic decisions are made and resources are assigned. The CODM function is carried out by the President of the Group, Mr. Eduardo S. Elsztain. Segment information is reported from the perspective of products and services: (i) agricultural business and (ii) urban properties and investment business. Below is the segment information prepared as follows: Agricultural business
| · | Agricultural production: segment consists of planting, harvesting and sale of crops as wheat, corn, soybeans, cotton and sunflowers; the sale of grain derivatives, such as flour and oil, breeding, purchasing and/or fattening of free-range cattle for sale to meat processors and local livestock auction markets.; agricultural services; leasing of the Group's farms to third parties; and planting, harvesting and sale of sugarcane
| · | Land transformation and sales: comprises gains from the disposal and development of farmlands activities.
| · | Corporate: includes corporate expenses related to agricultural business.
| · | Other segments: includes, principally, brokerage activities, among others.
Urban properties and investments business
| · | Shopping Malls: includes results principally comprised of lease and service revenues related to rental of commercial space and other spaces in the shopping malls of the Group.
| · | Offices: includes the operating results from lease revenues of offices, other rental spaces and other service revenues related to the office activities.
| · | Sales and developments: includes the operating results of the development, maintenance and sales of undeveloped parcels of land and/or trading properties. Real estate sales results are also included.
| · | Hotels: includes the operating results mainly comprised of room, catering and restaurant revenues.
| · | Others: includes the entertainment activity through ALG Golf Center S.A., La Rural S.A. and Buenos Aires Convention Center (Concession), We are appa S.A., and the financial activities carried out through BHSA / BACS, as well as other investments in associates.
The CODM periodically reviews the operating results and certain asset categories and assesses performance of operating segments based on a measure of profit or loss of the segment composed by the operating income plus the share of profit / (loss) of joint ventures and associates. The valuation criteria applied in preparing this information are consistent with IFRS Accounting standards employed for the preparation of our Audited Consolidated Financial Statements, except for the following:
| · | Operating results from joint ventures are evaluated by the CODM applying proportional consolidation method. Under this method, the profit/loss generated and assets are reported in the Consolidated Statement of Income and Other Comprehensive Income line-by-line based on the percentage held in joint ventures rather than in a single item as required by IFRS. Management believes that the proportional consolidation method provides more useful information to understand the business return. On the other hand, the investment in the joint venture La Rural S.A. is accounted for under the equity method since this method is considered to provide more accurate information in this case.
| · | Operating results from Shopping Malls and Offices segments do not include the amounts pertaining to building administration expenses and collective promotion funds (“FPC”, as per its Spanish acronym) as well as total recovered costs, whether by way of expenses or other concepts included under financial results (for example default interest and other concepts). The CODM examines the net amount from these items (total surplus or deficit between building administration expenses and FPC and recoverable expenses).
The asset categories reviewed by the CODM are: investment properties, property, plant and equipment, trading properties, inventories, rights to receive units under barter transactions, investments in associates and goodwill. The sum of these assets, classified by business segment, is disclosed as “reportable assets”. Assets are assigned to each segment based on operations and/or their physical location. Most of the revenues from the operating segments are generated and the assets are physically located in Argentina, with the exception of part of the results of associates included in the "Other" segment located in the United States. Revenues for each reporting segment derive from a large and diverse client base and, therefore, there is no revenue concentration in any particular segment. Below is a summarized analysis of the lines of business of the Group for the year ended June 30, 2025:
|  | 06.30.2025 |
|  | Agricultural business (I) |  |  | Urban Properties and Investment business (II) |  |  | Total segment information |  |  | Joint ventures (i) |  |  | Adjustments (ii) |  |  | Elimination of inter-segment transactions and non-reportable assets / liabilities (iii) |  |  | Total Statement of Income and Other Comprehensive Income/ Financial Position |
Revenues |  |  | 448,266 |  |  |  | 374,662 |  |  |  | 822,928 |  |  |  | (2,172 | ) |  |  | 96,036 |  |  |  | (2,635 | ) |  |  | 914,157 |
Costs |  |  | (386,762 | ) |  |  | (87,606 | ) |  |  | (474,368 | ) |  |  | 204 |  |  |  | (96,575 | ) |  |  | (3 | ) |  |  | (570,742 | )
Initial recognition and changes in the fair value of biological assets and agricultural products at the point of harvest |  |  | 17,715 |  |  |  | - |  |  |  | 17,715 |  |  |  | - |  |  |  | - |  |  |  | 2,282 |  |  |  | 19,997 |
Changes in the net realizable value of agricultural products after harvest |  |  | 4,642 |  |  |  | - |  |  |  | 4,642 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,642 |
Gross profit / (loss) |  |  | 83,861 |  |  |  | 287,056 |  |  |  | 370,917 |  |  |  | (1,968 | ) |  |  | (539 | ) |  |  | (356 | ) |  |  | 368,054 |
Net gain from fair value adjustment of investment properties |  |  | 12,467 |  |  |  | 9,135 |  |  |  | 21,602 |  |  |  | (2,527 | ) |  |  | - |  |  |  | - |  |  |  | 19,075 |
Gain from disposal of farmlands |  |  | 41,992 |  |  |  | - |  |  |  | 41,992 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 41,992 |
General and administrative expenses |  |  | (42,463 | ) |  |  | (69,103 | ) |  |  | (111,566 | ) |  |  | 299 |  |  |  | - |  |  |  | 265 |  |  |  | (111,002 | )
Selling expenses |  |  | (59,225 | ) |  |  | (24,108 | ) |  |  | (83,333 | ) |  |  | 126 |  |  |  | - |  |  |  | 108 |  |  |  | (83,099 | )
Other operating results, net |  |  | 11,956 |  |  |  | (17,199 | ) |  |  | (5,243 | ) |  |  | (2 | ) |  |  | 344 |  |  |  | (93 | ) |  |  | (4,994 | )
Management fees |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (9,081 | ) |  |  | - |  |  |  | (9,081 | )
Profit / (loss) from operations |  |  | 48,588 |  |  |  | 185,781 |  |  |  | 234,369 |  |  |  | (4,072 | ) |  |  | (9,276 | ) |  |  | (76 | ) |  |  | 220,945 |
Share of (loss) / profit of associates and joint ventures |  |  | (1,034 | ) |  |  | 25,332 |  |  |  | 24,298 |  |  |  | 2,592 |  |  |  | - |  |  |  | - |  |  |  | 26,890 |
Segment profit / (loss) |  |  | 47,554 |  |  |  | 211,113 |  |  |  | 258,667 |  |  |  | (1,480 | ) |  |  | (9,276 | ) |  |  | (76 | ) |  |  | 247,835 |
Reportable assets |  |  | 1,038,536 |  |  |  | 2,759,963 |  |  |  | 3,798,499 |  |  |  | (602 | ) |  |  | - |  |  |  | 1,290,925 |  |  |  | 5,088,822 |
Reportable liabilities (*) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (2,875,030 | ) |  |  | (2,875,030 | )
Net reportable assets |  |  | 1,038,536 |  |  |  | 2,759,963 |  |  |  | 3,798,499 |  |  |  | (602 | ) |  |  | - |  |  |  | (1,584,105 | ) |  |  | 2,213,792 |
Below is a summarized analysis of the lines of business of the Group for the year ended June 30, 2024:
|  | 06.30.2024 |
|  | Agricultural business (I) |  |  | Urban Properties and Investment business (II) |  |  | Total segment information |  |  | Joint ventures (i) |  |  | Adjustments (ii) |  |  | Elimination of inter-segment transactions and non-reportable assets / liabilities (iii) |  |  | Total Statement of Income and Other Comprehensive Income/ Financial Position Restated (iv) |
Revenues |  |  | 503,614 |  |  |  | 377,202 |  |  |  | 880,816 |  |  |  | (2,027 | ) |  |  | 82,884 |  |  |  | (2,314 | ) |  |  | 959,359 |
Costs |  |  | (418,830 | ) |  |  | (68,167 | ) |  |  | (486,997 | ) |  |  | 225 |  |  |  | (84,539 | ) |  |  | - |  |  |  | (571,311 | )
Initial recognition and changes in the fair value of biological assets and agricultural products at the point of harvest |  |  | 7,444 |  |  |  | - |  |  |  | 7,444 |  |  |  | - |  |  |  | - |  |  |  | 989 |  |  |  | 8,433 |
Changes in the net realizable value of agricultural products after harvest |  |  | 10,002 |  |  |  | - |  |  |  | 10,002 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 10,002 |
Gross profit / (loss) |  |  | 102,230 |  |  |  | 309,035 |  |  |  | 411,265 |  |  |  | (1,802 | ) |  |  | (1,655 | ) |  |  | (1,325 | ) |  |  | 406,483 |
Net loss from fair value adjustment of investment properties |  |  | (10,392 | ) |  |  | (476,237 | ) |  |  | (486,629 | ) |  |  | 508 |  |  |  | - |  |  |  | - |  |  |  | (486,121 | )
Gain from disposal of farmlands |  |  | 73,352 |  |  |  | - |  |  |  | 73,352 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 73,352 |
General and administrative expenses |  |  | (46,954 | ) |  |  | (71,737 | ) |  |  | (118,691 | ) |  |  | 242 |  |  |  | - |  |  |  | 150 |  |  |  | (118,299 | )
Selling expenses |  |  | (61,022 | ) |  |  | (24,387 | ) |  |  | (85,409 | ) |  |  | 187 |  |  |  | - |  |  |  | 1,035 |  |  |  | (84,187 | )
Other operating results, net |  |  | 38,904 |  |  |  | (9,780 | ) |  |  | 29,124 |  |  |  | (28 | ) |  |  | 584 |  |  |  | 120 |  |  |  | 29,800 |
Management fees |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (12,945 | ) |  |  | - |  |  |  | (12,945 | )
Profit / (loss) from operations |  |  | 96,118 |  |  |  | (273,106 | ) |  |  | (176,988 | ) |  |  | (893 | ) |  |  | (14,016 | ) |  |  | (20 | ) |  |  | (191,917 | )
Share of (loss) / profit of associates and joint ventures |  |  | (1,511 | ) |  |  | 47,068 |  |  |  | 45,557 |  |  |  | 386 |  |  |  | - |  |  |  | - |  |  |  | 45,943 |
Segment profit / (loss) |  |  | 94,607 |  |  |  | (226,038 | ) |  |  | (131,431 | ) |  |  | (507 | ) |  |  | (14,016 | ) |  |  | (20 | ) |  |  | (145,974 | )
Reportable assets |  |  | 1,017,398 |  |  |  | 2,716,344 |  |  |  | 3,733,742 |  |  |  | 955 |  |  |  | - |  |  |  | 1,107,520 |  |  |  | 4,842,217 |
Reportable liabilities (*) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (2,663,976 | ) |  |  | (2,663,976 | )
Net reportable assets |  |  | 1,017,398 |  |  |  | 2,716,344 |  |  |  | 3,733,742 |  |  |  | 955 |  |  |  | - |  |  |  | (1,556,456 | ) |  |  | 2,178,241 |
Below is a summarized analysis of the lines of business of the Group for the year ended June 30, 2023:
|  | 06.30.2023 |
|  | Agricultural business (I) |  |  | Urban property and investment business (II) |  |  | Total segment information |  |  | Joint ventures (i) |  |  | Adjustments (ii) |  |  | Elimination of inter-segment transactions and non-reportable assets / liabilities (iii) |  |  | Total Statement of Income and Other Comprehensive Income / Financial Position Restated (iv) |
Revenues |  |  | 527,192 |  |  |  | 374,521 |  |  |  | 901,713 |  |  |  | (2,352 | ) |  |  | 90,317 |  |  |  | (3,404 | ) |  |  | 986,274 |
Costs |  |  | (437,501 | ) |  |  | (68,825 | ) |  |  | (506,326 | ) |  |  | 1,026 |  |  |  | (91,947 | ) |  |  | - |  |  |  | (597,247 | )
Initial recognition and changes in the fair value of biological assets and agricultural products at the point of harvest |  |  | (7,847 | ) |  |  | - |  |  |  | (7,847 | ) |  |  | - |  |  |  | - |  |  |  | 1,142 |  |  |  | (6,705 | )
Changes in the net realizable value of agricultural products after harvest |  |  | (13,148 | ) |  |  | - |  |  |  | (13,148 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (13,148 | )
Gross profit / (loss) |  |  | 68,696 |  |  |  | 305,696 |  |  |  | 374,392 |  |  |  | (1,326 | ) |  |  | (1,630 | ) |  |  | (2,262 | ) |  |  | 369,174 |
Net loss from fair value adjustment of investment properties |  |  | (12,276 | ) |  |  | (265,944 | ) |  |  | (278,220 | ) |  |  | 10,539 |  |  |  | - |  |  |  | - |  |  |  | (267,681 | )
Gain from disposal of farmlands |  |  | 77,831 |  |  |  | - |  |  |  | 77,831 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 77,831 |
General and administrative expenses |  |  | (43,988 | ) |  |  | (101,152 | ) |  |  | (145,140 | ) |  |  | 347 |  |  |  | - |  |  |  | 897 |  |  |  | (143,896 | )
Selling expenses |  |  | (48,410 | ) |  |  | (23,507 | ) |  |  | (71,917 | ) |  |  | 142 |  |  |  | - |  |  |  | 1,557 |  |  |  | (70,218 | )
Other operating results, net |  |  | (9,043 | ) |  |  | (37,730 | ) |  |  | (46,773 | ) |  |  | (129 | ) |  |  | 857 |  |  |  | (128 | ) |  |  | (46,173 | )
Management fees |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (24,823 | ) |  |  | - |  |  |  | (24,823 | )
Profit / (loss) from operations |  |  | 32,810 |  |  |  | (122,637 | ) |  |  | (89,827 | ) |  |  | 9,573 |  |  |  | (25,596 | ) |  |  | 64 |  |  |  | (105,786 | )
Share of (loss) /profit of associates and joint ventures |  |  | (5,372 | ) |  |  | 20,145 |  |  |  | 14,773 |  |  |  | (6,584 | ) |  |  | - |  |  |  | (6 | ) |  |  | 8,183 |
Segment profit / (loss) |  |  | 27,438 |  |  |  | (102,492 | ) |  |  | (75,054 | ) |  |  | 2,989 |  |  |  | (25,596 | ) |  |  | 58 |  |  |  | (97,603 | )
Reportable assets |  |  | 1,093,128 |  |  |  | 3,288,882 |  |  |  | 4,382,010 |  |  |  | (18,197 | ) |  |  | - |  |  |  | 1,175,300 |  |  |  | 5,539,113 |
Reportable liabilities (*) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (3,037,296 | ) |  |  | (3,037,296 | )
Net reportable assets |  |  | 1,093,128 |  |  |  | 3,288,882 |  |  |  | 4,382,010 |  |  |  | (18,197 | ) |  |  | - |  |  |  | (1,861,996 | ) |  |  | 2,501,817 |
(i) | Represents the equity value of joint ventures that were proportionately consolidated for information by segment purposes.
(ii) | Includes ARS (539), ARS (1,655) and ARS (1,630) corresponding to Expenses and FPC as of June 30, 2025, 2024 and 2023, respectively, and ARS 9,081, ARS 12,945 and ARS 24,823 to management fees, as of June 30, 2025, 2024 and 2023, respectively.
(iii) | Includes deferred income tax assets, income tax and MPIT credits, trade and other receivables, investment in financial assets, cash and cash equivalents and intangible assets except for rights to receive future units under barter agreements, net of investments in associates with negative equity which are included in provisions in the amount of ARS 162, ARS 22 and ARS 7, as of June 30, 2025, 2024 and 2023, respectively.
(iv) | See Note 1 to these Consolidated Financial Statements.
(*) | The CODM focuses its review on reportable assets.
(i) Agriculture line of business The following tables present the reportable segments of the agriculture line of business:
|  | 06.30.2025 |
|  | Agricultural production |  |  | Land transformation and sales |  |  | Corporate |  |  | Others |  |  | Total Agricultural business |
Revenues |  |  | 326,975 |  |  |  | - |  |  |  | - |  |  |  | 121,291 |  |  |  | 448,266 |
Costs |  |  | (280,439 | ) |  |  | (389 | ) |  |  | - |  |  |  | (105,934 | ) |  |  | (386,762 | )
Initial recognition and changes in the fair value of biological assets and agricultural products at the point of harvest |  |  | 17,715 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 17,715 |
Changes in the net realizable value of agricultural products after harvest |  |  | 4,642 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,642 |
Gross profit / (loss) |  |  | 68,893 |  |  |  | (389 | ) |  |  | - |  |  |  | 15,357 |  |  |  | 83,861 |
Net gain from fair value adjustment of investment properties |  |  | - |  |  |  | 12,467 |  |  |  | - |  |  |  | - |  |  |  | 12,467 |
Gain from disposal of farmlands |  |  | - |  |  |  | 41,992 |  |  |  | - |  |  |  | - |  |  |  | 41,992 |
General and administrative expenses |  |  | (23,258 | ) |  |  | (86 | ) |  |  | (5,925 | ) |  |  | (13,194 | ) |  |  | (42,463 | )
Selling expenses |  |  | (35,685 | ) |  |  | (1,552 | ) |  |  | - |  |  |  | (21,988 | ) |  |  | (59,225 | )
Other operating results, net |  |  | 5,987 |  |  |  | 3,497 |  |  |  | - |  |  |  | 2,472 |  |  |  | 11,956 |
Profit / (loss) from operations |  |  | 15,937 |  |  |  | 55,929 |  |  |  | (5,925 | ) |  |  | (17,353 | ) |  |  | 48,588 |
Share of profit / (loss) of associates and joint ventures |  |  | 368 |  |  |  | - |  |  |  | - |  |  |  | (1,402 | ) |  |  | (1,034 | )
Segment profit / (loss) |  |  | 16,305 |  |  |  | 55,929 |  |  |  | (5,925 | ) |  |  | (18,755 | ) |  |  | 47,554 |
Investment properties |  |  | - |  |  |  | 74,005 |  |  |  | - |  |  |  | - |  |  |  | 74,005 |
Property, plant and equipment |  |  | 582,108 |  |  |  | 43,315 |  |  |  | - |  |  |  | 3,639 |  |  |  | 629,062 |
Investments in associates and joint ventures |  |  | 9,091 |  |  |  | - |  |  |  | - |  |  |  | 228 |  |  |  | 9,319 |
Other reportable assets |  |  | 248,498 |  |  |  | - |  |  |  | - |  |  |  | 77,652 |  |  |  | 326,150 |
Reportable assets |  |  | 839,697 |  |  |  | 117,320 |  |  |  | - |  |  |  | 81,519 |  |  |  | 1,038,536 |
From all of the Group’s revenues corresponding to Agricultural Business, ARS 236,332 are originated in Argentina and ARS 211,934 in other countries, principally in Brazil for ARS 207,158. From all of the Group’s assets included in the segment corresponding to Agricultural Business, ARS 370,013 are located in Argentina and ARS 668,523 in other countries, principally in Brazil.
|  | 06.30.2024 |
|  | Agricultural production |  |  | Land transformation and sales |  |  | Corporate |  |  | Others |  |  | Total Agricultural business |
Revenues |  |  | 374,179 |  |  |  | - |  |  |  | - |  |  |  | 129,435 |  |  |  | 503,614 |
Costs |  |  | (333,264 | ) |  |  | (318 | ) |  |  | - |  |  |  | (85,248 | ) |  |  | (418,830 | )
Initial recognition and changes in the fair value of biological assets and agricultural products at the point of harvest |  |  | 7,444 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 7,444 |
Changes in the net realizable value of agricultural products after harvest |  |  | 10,002 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 10,002 |
Gross profit / (loss) |  |  | 58,361 |  |  |  | (318 | ) |  |  | - |  |  |  | 44,187 |  |  |  | 102,230 |
Net loss from fair value adjustment of investment properties |  |  | - |  |  |  | (10,392 | ) |  |  | - |  |  |  | - |  |  |  | (10,392 | )
Gain from disposal of farmlands |  |  | - |  |  |  | 73,352 |  |  |  | - |  |  |  | - |  |  |  | 73,352 |
General and administrative expenses |  |  | (27,383 | ) |  |  | (88 | ) |  |  | (6,390 | ) |  |  | (13,093 | ) |  |  | (46,954 | )
Selling expenses |  |  | (40,340 | ) |  |  | (1,658 | ) |  |  | - |  |  |  | (19,024 | ) |  |  | (61,022 | )
Other operating results, net |  |  | 11,849 |  |  |  | 19,151 |  |  |  | - |  |  |  | 7,904 |  |  |  | 38,904 |
Profit / (loss) from operations |  |  | 2,487 |  |  |  | 80,047 |  |  |  | (6,390 | ) |  |  | 19,974 |  |  |  | 96,118 |
Share of profit / (loss) of associates and joint ventures |  |  | 2,161 |  |  |  | - |  |  |  | - |  |  |  | (3,672 | ) |  |  | (1,511 | )
Segment profit / (loss) |  |  | 4,648 |  |  |  | 80,047 |  |  |  | (6,390 | ) |  |  | 16,302 |  |  |  | 94,607 |
Investment properties |  |  | - |  |  |  | 89,955 |  |  |  | - |  |  |  | - |  |  |  | 89,955 |
Property, plant and equipment |  |  | 624,602 |  |  |  | 1,758 |  |  |  | - |  |  |  | 4,616 |  |  |  | 630,976 |
Investments in associates and joint ventures |  |  | 9,336 |  |  |  | - |  |  |  | - |  |  |  | 1,782 |  |  |  | 11,118 |
Other reportable assets |  |  | 193,322 |  |  |  | 3,619 |  |  |  | - |  |  |  | 88,408 |  |  |  | 285,349 |
Reportable assets |  |  | 827,260 |  |  |  | 95,332 |  |  |  | - |  |  |  | 94,806 |  |  |  | 1,017,398 |
From all of the Group’s revenues corresponding to Agricultural Business, ARS 275,874 are originated in Argentina and ARS 227,740 in other countries, principally in Brazil for ARS 225,596. From all of the Group’s assets included in the segment corresponding to Agricultural Business, ARS 707,205 are located in Argentina and ARS 310,193 in other countries, principally in Brazil.
|  | 06.30.2023 |
|  | Agricultural production |  |  | Land transformation and sales |  |  | Corporate |  |  | Others |  |  | Total Agricultural business |
Revenues |  |  | 388,107 |  |  |  | - |  |  |  | - |  |  |  | 139,085 |  |  |  | 527,192 |
Costs |  |  | (348,470 | ) |  |  | (383 | ) |  |  | - |  |  |  | (88,648 | ) |  |  | (437,501 | )
Initial recognition and changes in the fair value of biological assets and agricultural products at the point of harvest |  |  | (7,847 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (7,847 | )
Changes in the net realizable value of agricultural products after harvest |  |  | (13,148 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (13,148 | )
Gross profit / (loss) |  |  | 18,642 |  |  |  | (383 | ) |  |  | - |  |  |  | 50,437 |  |  |  | 68,696 |
Net loss from fair value adjustment of investment properties |  |  | - |  |  |  | (12,276 | ) |  |  | - |  |  |  | - |  |  |  | (12,276 | )
Gain from disposal of farmlands |  |  | - |  |  |  | 77,831 |  |  |  | - |  |  |  | - |  |  |  | 77,831 |
General and administrative expenses |  |  | (24,371 | ) |  |  | (73 | ) |  |  | (7,231 | ) |  |  | (12,313 | ) |  |  | (43,988 | )
Selling expenses |  |  | (35,549 | ) |  |  | (67 | ) |  |  | - |  |  |  | (12,794 | ) |  |  | (48,410 | )
Other operating results, net |  |  | 871 |  |  |  | (13,084 | ) |  |  | - |  |  |  | 3,170 |  |  |  | (9,043 | )
(Loss) / profit from operations |  |  | (40,407 | ) |  |  | 51,948 |  |  |  | (7,231 | ) |  |  | 28,500 |  |  |  | 32,810 |
Share of loss of associates and joint ventures |  |  | (876 | ) |  |  | - |  |  |  | - |  |  |  | (4,496 | ) |  |  | (5,372 | )
Segment (loss) / profit |  |  | (41,283 | ) |  |  | 51,948 |  |  |  | (7,231 | ) |  |  | 24,004 |  |  |  | 27,438 |
Investment properties |  |  | - |  |  |  | 136,013 |  |  |  | - |  |  |  | - |  |  |  | 136,013 |
Property, plant and equipment |  |  | 645,055 |  |  |  | 3,072 |  |  |  | - |  |  |  | 5,485 |  |  |  | 653,612 |
Investments in associates |  |  | 8,666 |  |  |  | - |  |  |  | - |  |  |  | 4,460 |  |  |  | 13,126 |
Other reportable assets |  |  | 212,659 |  |  |  | - |  |  |  | - |  |  |  | 77,718 |  |  |  | 290,377 |
Reportable assets |  |  | 866,380 |  |  |  | 139,085 |  |  |  | - |  |  |  | 87,663 |  |  |  | 1,093,128 |
From all of the Group’s revenues corresponding to Agricultural Business, ARS 287,452 are originated in Argentina and ARS 239,740 in other countries, principally in Brazil for ARS 214,437. From all of the Group’s assets included in the segment corresponding to Agricultural Business, ARS 352,361 are located in Argentina and ARS 740,767 in other countries, principally in Brazil. (ii) Urban properties and investments line of business Below is a summarized analysis of the urban properties and investments line of business for the fiscal years ended June 30, 2025, 2024 and 2023:
|  | 06.30.2025 |
|  | Shopping Malls |  |  | Offices |  |  | Sales and developments |  |  | Hotels |  |  | Others |  |  | Total |
Revenues |  |  | 270,531 |  |  |  | 20,065 |  |  |  | 12,761 |  |  |  | 64,596 |  |  |  | 6,709 |  |  |  | 374,662 |
Costs |  |  | (20,705 | ) |  |  | (1,742 | ) |  |  | (17,929 | ) |  |  | (43,149 | ) |  |  | (4,081 | ) |  |  | (87,606 | )
Gross profit / (loss) |  |  | 249,826 |  |  |  | 18,323 |  |  |  | (5,168 | ) |  |  | 21,447 |  |  |  | 2,628 |  |  |  | 287,056 |
Net gain / (loss) from fair value adjustment of investment properties (i) |  |  | 443,974 |  |  |  | (148,941 | ) |  |  | (285,328 | ) |  |  | - |  |  |  | (570 | ) |  |  | 9,135 |
General and administrative expenses |  |  | (28,999 | ) |  |  | (2,365 | ) |  |  | (11,605 | ) |  |  | (11,972 | ) |  |  | (14,162 | ) |  |  | (69,103 | )
Selling expenses |  |  | (13,536 | ) |  |  | (891 | ) |  |  | (3,116 | ) |  |  | (5,052 | ) |  |  | (1,513 | ) |  |  | (24,108 | )
Other operating results, net |  |  | (500 | ) |  |  | 182 |  |  |  | (19,070 | ) |  |  | (474 | ) |  |  | 2,663 |  |  |  | (17,199 | )
Profit / (Loss) from operations |  |  | 650,765 |  |  |  | (133,692 | ) |  |  | (324,287 | ) |  |  | 3,949 |  |  |  | (10,954 | ) |  |  | 185,781 |
Share of profit of associates and joint ventures |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 25,332 |  |  |  | 25,332 |
Segment profit / (loss) |  |  | 650,765 |  |  |  | (133,692 | ) |  |  | (324,287 | ) |  |  | 3,949 |  |  |  | 14,378 |  |  |  | 211,113 |
Investment and trading properties |  |  | 1,458,243 |  |  |  | 252,868 |  |  |  | 786,014 |  |  |  | - |  |  |  | 2,106 |  |  |  | 2,499,231 |
Property, plant and equipment |  |  | 4,747 |  |  |  | 511 |  |  |  | 26,708 |  |  |  | 47,580 |  |  |  | 4,107 |  |  |  | 83,653 |
Investment in associates and joint ventures |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 169,700 |  |  |  | 169,700 |
Other reportable assets |  |  | 2,050 |  |  |  | 1,746 |  |  |  | - |  |  |  | 584 |  |  |  | 2,999 |  |  |  | 7,379 |
Reportable assets |  |  | 1,465,040 |  |  |  | 255,125 |  |  |  | 812,722 |  |  |  | 48,164 |  |  |  | 178,912 |  |  |  | 2,759,963 |
From all the revenues, ARS 374,042 originated in Argentina, and ARS 620 in other countries, principally in Uruguay for ARS 547 and USA for ARS 73. No external client represents 10% or more of revenue of any of the reportable segments. From all of the assets corresponding to the business of urban properties and investments ARS 2,746,732 are located in Argentina and ARS 13,231 in other countries, principally in the USA for ARS 1,620 and Uruguay for ARS 11,472.
|  | 06.30.2024 |
|  | Shopping Malls |  |  | Offices |  |  | Sales and developments |  |  | Hotels |  |  | Others |  |  | Total |
Revenues |  |  | 250,468 |  |  |  | 22,646 |  |  |  | 12,891 |  |  |  | 85,840 |  |  |  | 5,357 |  |  |  | 377,202 |
Costs |  |  | (14,937 | ) |  |  | (1,648 | ) |  |  | (7,451 | ) |  |  | (40,350 | ) |  |  | (3,781 | ) |  |  | (68,167 | )
Gross profit |  |  | 235,531 |  |  |  | 20,998 |  |  |  | 5,440 |  |  |  | 45,490 |  |  |  | 1,576 |  |  |  | 309,035 |
Net loss from fair value adjustment of investment properties |  |  | (20,824 | ) |  |  | (97,015 | ) |  |  | (357,995 | ) |  |  | - |  |  |  | (403 | ) |  |  | (476,237 | )
General and administrative expenses |  |  | (30,126 | ) |  |  | (2,875 | ) |  |  | (12,283 | ) |  |  | (13,025 | ) |  |  | (13,428 | ) |  |  | (71,737 | )
Selling expenses |  |  | (12,558 | ) |  |  | (251 | ) |  |  | (4,512 | ) |  |  | (5,863 | ) |  |  | (1,203 | ) |  |  | (24,387 | )
Other operating results, net |  |  | (3,960 | ) |  |  | (88 | ) |  |  | (5,305 | ) |  |  | (1,577 | ) |  |  | 1,150 |  |  |  | (9,780 | )
Profit / (Loss) from operations |  |  | 168,063 |  |  |  | (79,231 | ) |  |  | (374,655 | ) |  |  | 25,025 |  |  |  | (12,308 | ) |  |  | (273,106 | )
Share of profit of associates and joint ventures |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 47,068 |  |  |  | 47,068 |
Segment profit / (loss) |  |  | 168,063 |  |  |  | (79,231 | ) |  |  | (374,655 | ) |  |  | 25,025 |  |  |  | 34,760 |  |  |  | (226,038 | )
Investment and trading properties |  |  | 962,417 |  |  |  | 423,239 |  |  |  | 995,336 |  |  |  | - |  |  |  | 3,152 |  |  |  | 2,384,144 |
Property, plant and equipment |  |  | 3,034 |  |  |  | 452 |  |  |  | 26,717 |  |  |  | 42,803 |  |  |  | 4,184 |  |  |  | 77,190 |
Investment in associates and joint ventures |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 173,401 |  |  |  | 173,401 |
Other reportable assets |  |  | 1,302 |  |  |  | 987 |  |  |  | 75,411 |  |  |  | 948 |  |  |  | 2,961 |  |  |  | 81,609 |
Reportable assets |  |  | 966,753 |  |  |  | 424,678 |  |  |  | 1,097,464 |  |  |  | 43,751 |  |  |  | 183,698 |  |  |  | 2,716,344 |
From all the revenues, ARS 367,827 originated in Argentina, and ARS 9,375 in other countries, principally in Uruguay for ARS 9,273 and USA for ARS 102. No external client represents 10% or more of revenue of any of the reportable segments. From all of the assets corresponding to the business of urban properties and investments ARS 2,701,718 are located in Argentina and ARS 14,626 in other countries, principally in the USA for ARS 2,446 and Uruguay for ARS 12,086.
|  | 06.30.2023 |
|  | Shopping Malls |  |  | Offices |  |  | Sales and developments |  |  | Hotels |  |  | Others |  |  | Total |
Revenues |  |  | 245,723 |  |  |  | 23,745 |  |  |  | 22,698 |  |  |  | 77,512 |  |  |  | 4,843 |  |  |  | 374,521 |
Costs |  |  | (16,643 | ) |  |  | (1,963 | ) |  |  | (6,905 | ) |  |  | (39,450 | ) |  |  | (3,864 | ) |  |  | (68,825 | )
Gross profit |  |  | 229,080 |  |  |  | 21,782 |  |  |  | 15,793 |  |  |  | 38,062 |  |  |  | 979 |  |  |  | 305,696 |
Net loss from fair value adjustment of investment properties |  |  | (57,854 | ) |  |  | (25,666 | ) |  |  | (181,839 | ) |  |  | - |  |  |  | (585 | ) |  |  | (265,944 | )
General and administrative expenses |  |  | (34,612 | ) |  |  | (4,325 | ) |  |  | (13,260 | ) |  |  | (16,964 | ) |  |  | (31,991 | ) |  |  | (101,152 | )
Selling expenses |  |  | (11,230 | ) |  |  | (534 | ) |  |  | (5,817 | ) |  |  | (5,325 | ) |  |  | (601 | ) |  |  | (23,507 | )
Other operating results, net |  |  | (3,030 | ) |  |  | (357 | ) |  |  | (4,579 | ) |  |  | (741 | ) |  |  | (29,023 | ) |  |  | (37,730 | )
Management fees |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Profit / (Loss) from operations |  |  | 122,354 |  |  |  | (9,100 | ) |  |  | (189,702 | ) |  |  | 15,032 |  |  |  | (61,221 | ) |  |  | (122,637 | )
Share of profit of associates and joint ventures |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 20,145 |  |  |  | 20,145 |
Segment profit / (loss) |  |  | 122,354 |  |  |  | (9,100 | ) |  |  | (189,702 | ) |  |  | 15,032 |  |  |  | (41,076 | ) |  |  | (102,492 | )
Investment and trading properties |  |  | 967,683 |  |  |  | 607,034 |  |  |  | 1,414,939 |  |  |  | - |  |  |  | 4,165 |  |  |  | 2,993,821 |
Property, plant and equipment |  |  | 3,030 |  |  |  | 18,383 |  |  |  | 26,593 |  |  |  | 47,815 |  |  |  | 4,547 |  |  |  | 100,368 |
Investment in associates and joint ventures |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 148,654 |  |  |  | 148,654 |
Other reportable assets |  |  | 2,051 |  |  |  | 1,772 |  |  |  | 38,119 |  |  |  | 1,031 |  |  |  | 3,066 |  |  |  | 46,039 |
Reportable assets |  |  | 972,764 |  |  |  | 627,189 |  |  |  | 1,479,651 |  |  |  | 48,846 |  |  |  | 160,432 |  |  |  | 3,288,882 |
From all the revenues, ARS 361,377 originated in Argentina, and ARS 13,144 in other countries, principally in Uruguay for ARS 13,031 and USA for ARS 113. No external client represents 10% or more of revenue of any of the reportable segments. From all of the assets corresponding to the business of urban properties and investments ARS 3,269,246 are located in Argentina and ARS 19,636 in other countries, principally in the USA for ARS 2,735 and Uruguay for ARS 16,801.

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Namespace Prefix: | cresud_
Data Type: | nonnum:textBlockItemType
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Period Type: | duration