News
Por Fernando Bertello (Suplemento Campo, LA NACIÓN)
Los Grobo Agropecuaria will grow this year by 13.6% in planting grains in a scheme of association with producers. In addition, it will expand by a similar percentage for the collection of grains. It is one of the largest grain producers in the country.
As LA NACIÓN learned, the firm, which planted 220,000 hectares last year, for the current 2021/2022 campaign will increase to 250,000 hectares.
The production is carried out under the associated sowing scheme, the firm explained. The company does not own any hectare but associates with producers in a scheme where land is rented and labor capital is used as inputs and labor.
"It is a very successful model where we have been adding hectares," they say in the company, which is based in the Buenos Aires party of Carlos Casares. There they argue that, if the weather is good, 2021 should close as "a good year for production."
Meanwhile, the company has been betting on growing in the grain collection business. From 2.2 million tonnes collected last year, he now expects to reach 2.5 million tonnes.
In this context, thinking about a five-year horizon, the company estimates to jump to a 350,000 hectare planting and collect 3.5 million tons of grains.
In terms of billing, the firm billed US $ 650 million in the 2020/2021 campaign considering the business of Los Grobo Agropecuaria and Agrofina (sale of phytosanitary supplies) and would go to US $ 750 million in the 2021/2022 cycle.
This week, the firm communicated to the National Securities Commission (CNV) that the General Ordinary and Extraordinary Assembly of Shareholders of the Company approved the result of the fiscal year started on the 1st. July 2020 and closed on June 30, 2021, which yielded a loss of $ 516,875,654. According to sources consulted at the firm, this data is actually part of an accounting reclassification since the net worth had increased and a comprehensive income of $ 942.9 million was recorded. Meanwhile, $ 373.6 million was the net worth with a positive balance.
"An adjustment was made within the net worth, which nevertheless increased this year," they indicated from the company. Numbers It is worth remembering that the firm has been working on a refinancing of liabilities in dollars of around US $ 120 million. Of this amount, US $ 50 million are with an international group for export pre-financing, while US $ 70 million correspond to syndicated loans with Argentine banks, led by Banco Galicia.
Last July, a consortium made up of Cono Sur Inversiones SA and other Argentine investors (Power SGR and Alfa Pyme SGR), through a controlled company, acquired the Reciprocal Guarantee Society (SGR) belonging to Los Grobo Agropecuaria SÁ. It was renamed Promote SGR.
In 2004, Los Grobo created its SGR to have a financial instrument and facilitate access for producers to new sources of financing to develop crops. It became the fifth SGR in the country and the second dedicated to agricultural activity, as recalled by the firm. The company estimates in five years to go from sowing 250,000 hectares to 350,000 hectares and having a collection volume of 3.5 million tons.
Automatic translation from spanish.
