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JOINT VENTURES AND ASSOCIATES

12 Months Ended

Jun. 30, 2022

JOINT VENTURES AND ASSOCIATES

JOINT VENTURES AND ASSOCIATES

13. JOINT VENTURES AND ASSOCIATES

​

​	​	​	​	​	​	​
​		06/30/2022		06/30/2021		06/30/2020
Assets	​	​	​	​	​	​
Synertech Industrias S.A.		35,646,740		27,572,597		24,619,773
Indrasa Biotecnología S.A.		70,466		54,957		33,019
Alfalfa Technologies S.R.L.		74,827		97,920		—
Moolec Science Limited	​	2,759,059	​	2,931,699	​	—
Moolec Science S.A.	​	3,000	​	—	​	—
​		38,554,092		30,657,173		24,652,792

​

​	​	​	​	​	​	​
​		06/30/2022		06/30/2021		06/30/2020
Liabilities
Trigall Genetics S.A.		717,948		1,278,250		1,548,829
​		717,948		1,278,250		1,548,829

​

Changes in joint ventures investments and affiliates:

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​	​	​	​	​	​	​
​		06/30/2022		06/30/2021		06/30/2020
As of the beginning of the year		29,378,923		23,103,963	​	23,350,125
Monetary contributions		—		101,883	​	—
Non-monetary contributions (Note 12)		3,000		2,931,699	​	250,000
Revaluation of property, plant and equipment		(586,268)		(413,618)	​	521,406
Share-based incentives	​	50,315	​	—	​	—
Foreign currency translation		7,845,756	​	2,657,567	​	(3,494,761)
Share of profit or loss		1,144,418	​	997,429	​	2,477,193
As of the end of the year		37,836,144	​	29,378,923	​	23,103,963

​

Share of profit or loss of joint ventures and affiliates:

​

​	​	​	​	​	​	​
​		06/30/2022		06/30/2021		06/30/2020
Trigall Genetics S.A.		670,065	​	270,579	​	171,502
Synertech Industrias S.A.		856,006	​	708,550	​	2,294,332
Moolec Science Limited		(383,447)	​	—	​	—
Indrasa Biotecnología S.A.		1,794	​	18,300	​	11,359
​		1,144,418	​	997,429	​	2,477,193

​

There are no significant restrictions on the ability of the joint ventures and affiliates to transfer funds to the Group for cash dividends, or to repay loans or advances made by the Group, except for the Argentinian legal obligation to establish a legal reserve for 5% of the profit for the year until reaching 20% of the capital for Argentinian entities.

Summarized financial information prepared in accordance with International Financial Reporting Standards (“IFRS”) in relation to the joint ventures is presented below:

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​	​	​	​	​	​	​
​	​	Trigall Genetics
Summarized balance sheet		06/30/2022		06/30/2021		06/30/2020
Current assets	​	​	​	​	​	​
Cash and cash equivalents		36,479		13,798		1,331
Other current assets		3,787,140		1,949,590		1,024,793
Total current assets		3,823,619		1,963,388		1,026,124
Non-current assets		​		​		​
Intangible assets		14,485,757		13,335,653		11,776,705
Total non-current assets		14,485,757		13,335,653		11,776,705
Current liabilities		​		​		​
Other current liabilities		1,638,939		1,257,070		869,700
Total current liabilities		1,638,939		1,257,070		869,700
Non-current liabilities		​		​		​
Financial liabilities	​	13,947,658	​	12,184,030	​	10,831,048
Other non- current liabilities		745,008		1,000,774		831,685
Total non-current liabilities		14,692,666		13,184,804		11,662,733
Net assets		1,977,771		857,167		270,396

​

​	​	​	​	​	​	​
​	​	Trigall Genetics
Summarized statements of comprehensive income		06/30/2022		06/30/2021		06/30/2020
Revenue		2,205,849		1,110,303		799,625
Finance income		—		22,470		79,442
Finance expense		(97,419)		(3,586)		(1,863)
Depreciation and amortization	​	(234,190)	​	—	​	—
Profit of the year		1,340,129		586,773		172,670
Total comprehensive income		1,340,129		586,773		172,670

​

​	​	​	​	​	​	​
​	​	Synertech
Summarized balance sheet		06/30/2022		06/30/2021		06/30/2020
Current assets		​
Cash and cash equivalents		202,078		540,149		18,251
Other current assets		39,346,866		17,274,878		17,983,868
Total current assets		39,548,944		17,815,027		18,002,119
Non-current assets		​		​		​
Property, plan and equipment		13,846,826		13,422,832		14,168,459
Other non- current assets		—		39,171		—
Total non-current assets		13,846,826		13,462,003		14,168,459
Current liabilities		​		​		​
Financial liabilities		6,995,247		1,346,327		5,484,866
Other current liabilities		17,684,155		6,807,330		4,719,276
Total current liabilities		24,679,402		8,153,657		10,204,142
Non-current liabilities		​		​		​
Financial liabilities		84,391		331,306		2,783,951
Other non- current liabilities		3,257,934		4,119,471		2,554,905
Total non-current liabilities		3,342,325		4,450,777		5,338,856
Net assets		25,374,043		18,672,596		16,627,580

​

​

​	​	​	​	​	​	​
​	​	Synertech
Summarized statements of comprehensive income		06/30/2022		06/30/2021		06/30/2020
Revenue		61,117,486		23,759,744		21,501,725
Finance income		7,019,720		5,584,007		3,805,655
Finance expense		(8,644,475)		(6,283,955)		(6,666,508)
Depreciation and amortization		(1,339,357)		(39,171)		(1,076,699)
(Loss)/Profit of the year		(2,429,401)		1,776,244		5,099,582
Other comprehensive (loss)/income		(1,172,537)		(827,236)		1,042,811
Total comprehensive (loss)/income		(3,601,938)		949,008		6,142,393

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- Definition

The disclosure of joint ventures. [Refer: Joint ventures [member]]

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