Document and Entity Information
Document and Entity Information | 3 Months Ended |
Sep. 30, 2023 | |
Document and Entity Information [Abstract] | |
Document Type | 6-K |
Entity Registrant Name | Bioceres Crop Solutions Corp. |
Entity Central Index Key | 0001769484 |
Document Period End Date | Sep. 30, 2023 |
Current Fiscal Year End Date | --06-30 |
Document Fiscal Year Focus | 2024 |
Document Fiscal Period Focus | Q1 |
Amendment Flag | false |
UNAUDITED INTERIM CONDENSED CON
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 28,373,924 | $ 48,129,194 |
Other financial assets | 14,628,202 | 12,135,020 |
Trade receivables | 186,276,319 | 158,006,474 |
Other receivables | 24,902,503 | 28,824,998 |
Income and minimum presumed recoverable income taxes | 2,022,328 | 9,444,898 |
Inventories | 138,076,822 | 140,426,975 |
Biological assets | 1,141,113 | 146,842 |
Total current assets | 395,421,211 | 397,114,401 |
NON-CURRENT ASSETS | ||
Other financial assets | 502,910 | 444,909 |
Other receivables | 2,393,939 | 2,546,241 |
Income and minimum presumed recoverable income taxes | 5,446 | 16,286 |
Deferred tax assets | 8,230,402 | 7,312,964 |
Investments in joint ventures and associates | 40,820,784 | 39,296,810 |
Investment properties | 3,675,493 | 3,589,749 |
Property, plant and equipment | 69,930,709 | 67,853,835 |
Intangible assets | 173,034,536 | 173,783,956 |
Goodwill | 112,163,432 | 112,163,432 |
Right of use asset | 13,519,199 | 13,936,575 |
Total non-current assets | 424,276,850 | 420,944,757 |
Total assets | 819,698,061 | 818,059,158 |
CURRENT LIABILITIES | ||
Trade and other payables | 159,125,358 | 150,807,674 |
Borrowings | 100,720,985 | 107,639,659 |
Employee benefits and social security | 10,019,165 | 9,606,707 |
Deferred revenue and advances from customers | 32,771,902 | 24,875,662 |
Income tax payable | 536,840 | 509,034 |
Consideration for acquisition | 4,202,389 | 1,415,099 |
Lease liabilities | 4,326,889 | 3,858,699 |
Total current liabilities | 311,703,528 | 298,712,534 |
NON-CURRENT LIABILITIES | ||
Borrowings | 48,789,492 | 60,670,946 |
Deferred revenue and advances from customers | 2,202,374 | 2,057,805 |
Joint ventures and associates | 638,126 | 622,823 |
Deferred tax liabilities | 34,393,580 | 35,785,347 |
Provisions | 668,775 | 891,769 |
Consideration for acquisition | 2,540,181 | 3,578,157 |
Secured notes | 76,911,874 | 75,213,146 |
Lease liabilities | 9,225,862 | 10,030,524 |
Total non-current liabilities | 175,370,264 | 188,850,517 |
Total liabilities | 487,073,792 | 487,563,051 |
EQUITY | ||
Equity attributable to owners of the parent | 298,966,341 | 298,594,088 |
Non-controlling interest | 33,657,928 | 31,902,019 |
Total equity | 332,624,269 | 330,496,107 |
Total equity and liabilities | $ 819,698,061 | $ 818,059,158 |
UNAUDITED INTERIM CONDENSED C_2
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | ||
Revenues from contracts with customers | $ 116,182,805 | $ 126,843,248 |
Initial recognition and changes in the fair value of biological assets at the point of harvest | 410,913 | 490,006 |
Cost of sales | (71,615,781) | (75,675,878) |
Changes in the net realizable value of agricultural products after harvest | (1,446,316) | (227,936) |
Research and development expenses | (4,581,241) | (3,852,014) |
Selling, general and administrative expenses | (33,932,848) | (31,904,911) |
Share of profit or loss of joint ventures and associates | 1,508,671 | 842,240 |
Other income or expenses, net | (1,231,635) | 478,041 |
Operating profit | 5,294,568 | 16,992,796 |
Financial cost | (7,661,857) | (6,779,847) |
Other financial results | 117,865 | (1,288,306) |
(Loss) profit before income tax | (2,249,424) | 8,924,643 |
Income tax | (429,040) | (5,012,643) |
(Loss) profit for the period | (2,678,464) | 3,912,000 |
Other comprehensive (loss) income | (929,957) | 31,025 |
Items that may be subsequently reclassified to profit and loss | (929,957) | 31,025 |
Foreign exchange differences on translation of foreign operations from joint ventures | 100,868 | |
Foreign exchange differences on translation of foreign operations | (929,957) | (69,843) |
Total comprehensive (loss) profit | (3,608,421) | 3,943,025 |
(Loss) profit for the period attributable to: | ||
Equity holders of the parent | (4,591,634) | 498,297 |
Non-controlling interests | 1,913,170 | 3,413,703 |
(Loss) profit for the period | $ (2,678,464) | $ 3,912,000 |
(Loss) profit per share | ||
Basic (loss) profit attributable to ordinary equity holders of the parent | $ (0.0731) | $ 0.0082 |
Diluted (loss) profit attributable to ordinary equity holders of the parent | $ (0.0731) | $ 0.0081 |
Total comprehensive (Loss) profit attributable to: | ||
Equity holders of the parent | $ (5,364,330) | $ 401,715 |
Non-controlling interests | 1,755,909 | 3,541,310 |
Total comprehensive (loss) profit | $ (3,608,421) | $ 3,943,025 |
UNAUDITED INTERIM CONDENSED C_3
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) | Equity / (deficit) attributable to owners of the parent | Issued capital | Share premium | Changes in non-controlling interest | Own shares trading premium | Stock options and share based incentives | Convertible instruments | Cost of own shares held | Retained deficit | Foreign currency translation reserve | Revaluation of PP&E and effect of tax rate change | Non-controlling Interests | Total |
Balance at Jun. 30, 2022 | $ 127,358,573 | $ 4,637 | $ 158,819,506 | $ (255,893) | $ (916,202) | $ 3,767,925 | $ 175,745 | $ (3,530,926) | $ (32,682,893) | $ 969,402 | $ 1,007,272 | $ 30,940,275 | $ 158,298,848 |
Share-based incentives | 746,258 | 6 | 554,999 | 135,361 | 55,892 | 746,258 | |||||||
Business combination | 154,979,344 | 1,640 | 153,357,564 | 1,620,140 | 154,979,344 | ||||||||
Capitalization of convertible notes | 12,211,638 | 153 | 12,211,485 | 12,211,638 | |||||||||
Purchase of own shares | (24,291,047) | (24,291,047) | (24,291,047) | ||||||||||
Issuance of convertible notes | 9,109,516 | 9,109,516 | 9,109,516 | ||||||||||
Distribution of dividends by subsidiary | (187,977) | (187,977) | |||||||||||
(Loss) profit for the period | 498,297 | 498,297 | 3,413,703 | 3,912,000 | |||||||||
Other comprehensive income (loss) | (96,582) | (96,582) | 127,607 | 31,025 | |||||||||
Balance at Sep. 30, 2022 | 280,515,997 | 6,436 | 324,943,554 | (255,893) | (780,841) | 5,443,957 | 9,285,261 | (27,821,973) | (32,184,596) | 872,820 | 1,007,272 | 34,293,608 | 314,809,605 |
Balance at Jun. 30, 2023 | 298,594,088 | 6,493 | 327,028,559 | (255,893) | (780,841) | 6,645,442 | 9,285,261 | (30,553,591) | (13,903,017) | 1,282,377 | (160,702) | 31,902,019 | 330,496,107 |
Share-based incentives | 6,193,668 | 6,193,668 | 6,193,668 | ||||||||||
Purchase of own shares | (457,085) | (457,085) | (457,085) | ||||||||||
(Loss) profit for the period | (4,591,634) | (4,591,634) | 1,913,170 | (2,678,464) | |||||||||
Other comprehensive income (loss) | (772,696) | (772,696) | (157,261) | (929,957) | |||||||||
Balance at Sep. 30, 2023 | $ 298,966,341 | $ 6,493 | $ 327,028,559 | $ (255,893) | $ (780,841) | $ 12,839,110 | $ 9,285,261 | $ (31,010,676) | $ (18,494,651) | $ 509,681 | $ (160,702) | $ 33,657,928 | $ 332,624,269 |
UNAUDITED INTERIM CONDENSED C_4
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | Jun. 30, 2023 | |
OPERATING ACTIVITIES | |||
(Loss) profit for the period | $ (2,678,464) | $ 3,912,000 | |
Adjustments to reconcile profit to net cash flows | |||
Income tax | 429,040 | 5,012,643 | |
Financial results | 7,543,992 | 8,068,153 | |
Depreciation of property, plant and equipment | 1,243,403 | 1,382,093 | |
Amortization of intangible assets | 2,747,206 | 2,476,832 | |
Depreciation of leased assets | 837,199 | 676,427 | |
Transactional expenses | 2,794,339 | ||
Share-based incentive and stock options | 6,193,668 | 227,351 | |
Share of profit or loss of joint ventures and associates | (1,508,671) | (842,240) | |
Provisions for contingencies | 27,109 | 2,448 | |
Allowance for impairment of trade debtors | 352,920 | 156,053 | |
Allowance for obsolescence | 505,285 | 618,489 | |
Initial recognition and changes in the fair value of biological assets | (410,913) | (490,006) | |
Changes in the net realizable value of agricultural products after harvest | 1,446,316 | 227,936 | |
Gain or loss on sale of equipment and intangible assets | (26,669) | (115,942) | |
Working capital adjustments | |||
Trade receivables | (31,012,196) | (29,709,414) | |
Other receivables | 3,722,853 | (5,665,708) | |
Income and minimum presumed income taxes payable | 7,113,764 | (376,576) | |
Inventories and biological assets | (197,454) | (7,391,556) | |
Trade and other payables | 7,499,929 | (18,108,556) | |
Employee benefits and social security | 412,458 | 3,226,505 | |
Deferred revenue and advances from customers | 8,040,809 | 373,181 | |
Income taxes paid | (163,205) | (1,051,644) | |
Interest collected | 2,293,676 | 2,125,194 | |
Inflation effects on working capital adjustments | 321,539 | 69,662 | |
Net cash flows generated (used) by operating activities | 14,733,594 | (32,402,336) | |
INVESTMENT ACTIVITIES | |||
Proceeds from sale of property, plant and equipment | 35,682 | 115,942 | |
Net cash received from business combination | 5,933,265 | ||
Net loans granted to shareholders and other related parties | 1,609 | ||
Proceeds from financial assets | (509,534) | 2,729,598 | |
Investment in financial assets | (2,215,965) | (889,342) | |
Purchase of property, plant and equipment | (3,985,249) | (1,414,730) | |
Capitalized development expenditures | (1,947,504) | (3,241,008) | |
Purchase of intangible assets | (64,486) | (209,863) | |
Net cash flows (used) generated by investing activities | (8,687,056) | 3,025,471 | |
FINANCING ACTIVITIES | |||
Proceeds from borrowings | 26,837,346 | 93,327,748 | |
Repayment of borrowings and financed payments | (46,865,499) | (47,061,271) | |
Interest payments | (4,539,455) | (3,016,078) | |
Other financial proceeds or payments, net | (781,199) | (1,717,070) | |
Purchase of own shares | (457,085) | (376,018) | |
Leased assets payments | (1,170,039) | (744,365) | |
Cash dividend distributed by subsidiary | (187,977) | ||
Net cash flows (used) generated by financing activities | (26,975,931) | 40,224,969 | |
Net (decrease) increase in cash and cash equivalents | (20,929,393) | 10,848,104 | |
Inflation effects on cash and cash equivalents | (24,266) | (12,404) | |
Cash and cash equivalents as of beginning of the period | 48,129,194 | 33,475,266 | $ 33,475,266 |
Effect of exchange rate changes on cash and equivalents | 1,198,389 | 3,076,600 | |
Cash and cash equivalents as of the end of the period | $ 28,373,924 | $ 47,387,566 | $ 48,129,194 |
GENERAL INFORMATION
GENERAL INFORMATION | 3 Months Ended |
Sep. 30, 2023 | |
GENERAL INFORMATION | |
GENERAL INFORMATION | 1. GENERAL INFORMATION Bioceres Crop Solutions Corp. (NASDAQ:BIOX) is a leader in the development and commercialization of productivity solutions designed to regenerate agricultural ecosystems while making crops more resilient to climate change. To do this, Bioceres’ products create economic incentives for farmers and other stakeholders to adopt environmentally friendly production practices. Bioceres has a unique biotech platform with high impact, patented technologies for seeds and microbial ag inputs, as well as next generation crop nutrition and protection solutions. Bioceres is a global company with an extensive geographic footprint. The Group’s agricultural inputs are marketed across more than 40 countries, mainly in Argentina, Brazil, United States, Europe and South Africa. Unless the context otherwise requires, “we”, “us”, “our”, “Bioceres”, “BIOX”, “the Group”, and “Bioceres Crop Solutions” will refer to Bioceres Crop Solutions Corp. and its subsidiaries. |
ACCOUNTING STANDARDS AND BASIS
ACCOUNTING STANDARDS AND BASIS OF PREPARATION | 3 Months Ended |
Sep. 30, 2023 | |
ACCOUNTING STANDARDS AND BASIS OF PREPARATION | |
ACCOUNTING STANDARDS AND BASIS OF PREPARATION | 2. ACCOUNTING STANDARDS AND BASIS OF PREPARATION Statement of compliance with IFRS as issued by IASB These unaudited interim condensed consolidated financial statements for the three-month period ended September 30, 2023, have been prepared in accordance with Accounting Standard IAS 34 Interim Financial Reporting. These unaudited interim condensed consolidated financial statements do not include all notes of the type normally included in an annual financial statement. Accordingly, these unaudited interim condensed consolidated financial statements are to be read in conjunction with the consolidated financial statements for the fiscal year ended June 30, 2023. Authorization for the issue of the consolidated financial statements These unaudited interim condensed consolidated financial statements of the Group as of September 30, 2023, June 30, 2023 and for the three-month periods ended September 30, 2023 and 2022 were authorized by the Board of Directors of Bioceres Crop Solutions Corp. on November 29, 2023. Basis of measurement The consolidated financial statements of the Group have been prepared using: ● Going concern basis of accounting, considering the conclusion of the assessment made by the Group’s Management about the ability of the Group and its subsidiaries to continue as a going concern, in accordance with the requirements of paragraph 25 of IAS 1, “Presentation of Financial Statements”. ● Accrual basis of accounting (except for cash flows information). Under this basis of accounting, the effects of transactions and other events are recognized as they occur, even when there are no cash flows. Functional currency and presentation currency a) Functional currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic market in which the entity operates (i.e., “the functional currency”). b) Presentation currency The consolidated financial statements of the Group are presented in US dollars. c) Foreign currency Transactions entered into by Group entities in a currency other than their functional currency are recorded at the relevant exchange rates as of the date upon which such transactions occur. Foreign currency monetary assets and liabilities are translated at the prevailing exchanges rates as of the final day of each reporting period. Exchange differences arising from the retranslation of unsettled monetary assets and liabilities are recognized immediately in profit or loss, except for foreign currency borrowings qualifying as a hedge of a net investment in a foreign operation for which exchange differences are recognized in other comprehensive income and accumulated in the foreign exchange reserve along with the exchange differences arising from the retranslation of the foreign operation. Upon the disposal of a foreign operation, the cumulative exchange differences recognized in the foreign exchange reserve relating to such operation up to the date of disposal are transferred to the consolidated statement of profit or loss and other comprehensive income as part of the gain or loss recognized upon such disposal. Changes in accounting policies The accounting policies adopted in the preparation of these unaudited interim condensed consolidated financial statements are consistent with those adopted for the preparation of the consolidated financial statements as of June 30, 2023. |
NEW STANDARDS, AMENDMENTS AND I
NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS ISSUED BY THE IASB | 3 Months Ended |
Sep. 30, 2023 | |
NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS ISSUED BY THE IASB | |
NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS ISSUED BY THE IASB | 3. NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS ISSUED BY THE IASB a) - Amendment to IAS 12 –Deferred tax related to assets and liabilities arising from a single transaction. - International Tax Reform—Pillar Two Model Rules (Amendments to IAS 12) - Amendments to IAS 1 and IFRS Practice Statement 2- Disclosure of Accounting Policies - Amendments to IAS 8-Definition of Accounting Estimates - IFRS 17, “Insurance Contracts” These new standards and amendments did not have any material impact on the Group. b) - Amendments to IFRS 16- Lease Liability in a Sale and Leaseback. The amendments are effective for annual reporting periods beginning on or after 1 January 2024. - Amendments to IAS1 – Non- current liabilities with covenants. The amendments are effective for annual reporting periods beginning on or after 1 January 2024. - Amendments to IAS 7- Statement of Cash Flows & to IFRS 7- Financial Instruments: Disclosures. The amendments are effective for annual reporting periods beginning on or after 1 January 2024. - Amendments to IAS 21- The Effects of Changes in Foreign Exchange Ratestitled Lack of Exchangeability. The amendments are effective for annual reporting periods beginning on or after 1 January 2025. - Amendment to IAS 7 and IFRS 7 - Supplier Financing. The amendments are effective for annual periods beginning on or after January 1, 2024. These amendments are not expected to have material impact on the Group. |
SEASONALITY
SEASONALITY | 3 Months Ended |
Sep. 30, 2023 | |
SEASONALITY | |
SEASONALITY | 4. SEASONALITY Our revenues fluctuate depending on the timing of orders from our distributors and customers and on prevailing market prices, which influence the purchase decisions of growers, the end users of our seed and integrated products, crop protection products and crop nutrition products. Given the cyclicality of crop planting and harvesting, as well as growing seasons, which vary from year to year, our business is highly seasonal. This results in substantial fluctuations in quarterly sales and profitability. Our portfolio is highly oriented to crop planting. Generally, our sales are concentrated in the third and fourth quarters of each calendar year, when demand for our seed and integrated products, crop protection products and crop nutrition products increases as growers begin planting their summer crops in South America, while winter crop season occurs in the Northern hemisphere. With our seed and integrated products business, we contract with growers and seed suppliers based upon our anticipated market demand. Generally, in our seed and integrated products business we stock the seed during the harvest season and ship from inventory throughout the year, with the objective of selling most of the inventory from the current year’s harvest before the next year’s, with our crop protection and our crop nutrition business following a similar cycle to the seed cycle. Milestone, royalty, and license revenues are also likely to fluctuate from period to period given the seasonality of agriculture and time required to progress from one milestone to the next. Our seed and integrated products, crop protection and crop nutrition businesses are also affected by unpredictable weather conditions such as heavy rains, hail, floods, freezing conditions, windstorms, drought or fire, as well as other hazardous situations beyond our control, which may cause our sales and operating results to fluctuate significantly. In addition, disruptions that cause delays by growers in harvesting or planting can result in the movement of orders to a future quarter, which also causes fluctuations in our quarterly operating results. Finally, some of our customers and distributors order in bulk only one or two times a year, which may further cause our seed product revenues to fluctuate from period to period. |
INFORMATION ABOUT COMPONENTS OF
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION | 3 Months Ended |
Sep. 30, 2023 | |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION | |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION | 5. INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION 5.1. Cash and cash equivalents 09/30/2023 06/30/2023 Cash at bank and on hand 25,954,730 48,129,194 Mutual funds 2,419,194 — 28,373,924 48,129,194 5.2. Other financial assets 09/30/2023 06/30/2023 Current Restricted short-term deposits — 212,703 US Treasury bills 9,719,486 9,163,298 Mutual funds 3,236,702 1,596,539 Other investments 1,672,014 1,162,480 14,628,202 12,135,020 09/30/2023 06/30/2023 Non-current Shares of Bioceres S.A. 444,575 444,635 Other investments 58,335 274 502,910 444,909 5.3. Trade receivables 09/30/2023 06/30/2023 Current Trade debtors 189,222,562 160,269,233 Allowance for impairment of trade debtors (7,615,433) (7,425,604) Shareholders and other related parties (Note 15) 1,368,373 — Allowance for credit notes to be issued (2,610,596) (3,694,019) Trade debtors - Joint ventures and associates (Note 15) 781,451 865,627 Deferred checks 5,129,962 7,991,237 186,276,319 158,006,474 The book value is reasonably approximate to the fair value given its short-term nature. 5.4. Other receivables 09/30/2023 06/30/2023 Current Taxes 6,009,626 6,113,764 Receivables for PP&E sales 89,715 156,423 Shareholders and other related parties (Note 15) 2,919,431 3,792,429 Other receivables - Joint ventures and associates (Note 15) 6,469,863 6,104,219 Prepayments to suppliers 5,010,022 10,956,831 Reimbursements over exports 10,558 10,558 Prepaid expenses and other receivables 3,657,633 1,302,221 Miscellaneous 735,655 388,553 24,902,503 28,824,998 09/30/2023 06/30/2023 Non-current Taxes 865,588 873,699 Reimbursements over exports 1,268,928 1,290,227 Loans receivables 230,000 230,000 Miscellaneous 29,423 152,315 2,393,939 2,546,241 5.5. Inventories 09/30/2023 06/30/2023 Seeds 9,293,210 1,542,159 Resale products 71,973,203 58,544,931 Manufactured products 19,604,930 25,881,761 Goods in transit 2,298,136 3,620,606 Supplies 18,709,303 24,893,187 Agricultural products 19,111,345 28,436,830 Allowance for obsolescence (2,913,305) (2,492,499) 138,076,822 140,426,975 Net of agricultural products 118,965,477 111,990,145 5.6. Biological assets Changes in Biological assets: Soybean Corn Wheat Barley Sunflower Total Beginning of the period — — 87,785 59,057 — 146,842 Initial recognition and changes in the fair value of biological assets at the point of harvest — — 276,511 134,402 — 410,913 Costs incurred during the period 374,456 177,601 — — 31,301 583,358 Period ended September 30, 2023 374,456 177,601 364,296 193,459 31,301 1,141,113 Wheat Barley Total Beginning of the period 44,413 12,900 57,313 Initial recognition and changes in the fair value of biological assets at the point of harvest 365,833 124,173 490,006 Costs incurred during the period 378,631 122,837 501,468 Exchange differences (16,699) (5,344) (22,043) Period ended September 30, 2022 772,178 254,566 1,026,744 5.7. Property, plant and equipment Property, plant and equipment as of September 30, 2023 and June 30, 2023 included the following: 09/30/2023 06/30/2023 Gross carrying amount 96,833,359 93,634,779 Accumulated depreciation (26,902,650) (25,780,944) Net carrying amount 69,930,709 67,853,835 Net carrying amount for each class of assets is as follows: Net carrying Net carrying amount amount Class 09/30/2023 06/30/2023 Office equipment 280,905 263,892 Vehicles 1,862,542 2,032,853 Equipment and computer software 167,741 174,399 Fixtures and fittings 2,676,861 2,862,949 Machinery and equipment 13,970,593 14,463,756 Land and buildings 35,640,076 36,144,792 Buildings in progress 15,331,991 11,911,194 Total 69,930,709 67,853,835 1. Gross carrying amount as of September 30, 2023 is as follows: Gross carrying amount As of the beginning Foreign As of the of the currency end of the Class period Additions Disposals translation period Office equipment 968,088 34,918 — (2,764) 1,000,242 Vehicles 5,492,319 28,680 (45,062) (1,498) 5,474,439 Equipment and computer software 974,509 30,188 — (5,857) 998,840 Fixtures and fittings 7,663,899 — — (2,126) 7,661,773 Machinery and equipment 23,513,047 176,837 — (91,465) 23,598,419 Land and buildings 43,111,723 — — (344,068) 42,767,655 Buildings in progress 11,911,194 3,678,037 — (257,240) 15,331,991 Total 93,634,779 3,948,660 (45,062) (705,018) 96,833,359 2. Accumulated depreciation as of September 30, 2023 is as follows: Depreciation Accumulated as of the Foreign Accumulated beginning of currency as of the end Class the period Disposals Of the period translation of the period Office equipment 704,196 — 17,004 (1,863) 719,337 Vehicles 3,459,466 (36,049) 188,532 (52) 3,611,897 Equipment and computer software 800,110 — 35,963 (4,974) 831,099 Fixtures and fittings 4,800,950 — 184,877 (915) 4,984,912 Machinery and equipment 9,049,291 — 595,729 (17,194) 9,627,826 Land and buildings 6,966,931 — 221,298 (60,650) 7,127,579 Total 25,780,944 (36,049) 1,243,403 (85,648) 26,902,650 3. Gross carrying amount as of September 30, 2022 is as follows: Gross carrying amount As of the Additions Foreign As of the beginning from business currency end of the Class of the period Additions combination Disposals translation period Office equipment 908,004 — — — (15,172) 892,832 Vehicles 5,261,979 226,051 — (59,744) (6,243) 5,422,043 Equipment and computer software 925,349 41,658 12,469 — (6,667) 972,809 Fixtures and fittings 7,606,389 33,869 5,379 — (5,539) 7,640,098 Machinery and equipment 13,017,830 107,717 7,047,496 — (24,469) 20,148,574 Land and buildings 40,659,129 — 4,750,136 — (313,148) 45,096,117 Buildings in progress 3,142,774 1,005,435 1,285,092 — (17,941) 5,415,360 Total 71,521,454 1,414,730 13,100,572 (59,744) (389,179) 85,587,833 4. Accumulated depreciation as of September 30, 2022 is as follows: Depreciation Accumulated as of the Foreign Accumulated beginning of Of the currency as of the end Class the period Disposals period translation of the period Office equipment 638,466 — 17,053 (16,931) 638,588 Vehicles 2,596,905 (59,744) 226,899 (3,364) 2,760,696 Equipment and computer software 693,673 — 28,914 (476) 722,111 Fixtures and fittings 4,059,470 — 206,830 (23,814) 4,242,486 Machinery and equipment 7,205,870 — 679,201 (180,089) 7,704,982 Land and buildings 6,418,745 — 223,196 (695) 6,641,246 Total 21,613,129 (59,744) 1,382,093 (225,369) 22,710,109 The depreciation charge is included in Notes 6.3 and 6.4. The Group has no commitments to purchase property, plant and equipment items. 5.8. Intangible assets Intangible assets as of September 30, 2023 and June 30, 2023 included the following: 09/30/2023 06/30/2023 Gross carrying amount 204,300,750 202,306,618 Accumulated amortization (31,266,214) (28,522,662) Net carrying amount 173,034,536 173,783,956 Net carrying amount of each class of intangible assets is as follows: Net carrying Net carrying amount amount Class 09/30/2023 06/30/2023 Seed and integrated products HB4 soy and breeding program 31,476,363 31,679,681 Integrated seed products 2,786,562 2,841,008 Crop nutrition Microbiological products 50,506,239 49,508,801 Other intangible assets Trademarks and patents 58,730,415 59,760,753 Software 1,609,367 1,987,690 Customer loyalty 22,925,590 23,006,023 RG/RS/OX Wheat 5,000,000 5,000,000 Total 173,034,536 173,783,956 1. Gross carrying amount as of September 30, 2023 is as follows: Gross carrying amount As of the Foreign As of the beginning of currency end of the Class the period Additions translation period Seed and integrated products HB4 soy and breeding program 34,958,425 224,230 — 35,182,655 Integrated seed products 3,219,808 — (8,178) 3,211,630 Crop nutrition Microbiological products 55,645,028 1,723,274 (6,119) 57,362,183 Other intangible assets Trademarks and patents 67,653,234 62,543 — 67,715,777 Software 5,582,411 1,943 (3,561) 5,580,793 Customer loyalty 30,247,712 — — 30,247,712 RG/RS/OX Wheat 5,000,000 — — 5,000,000 Total 202,306,618 2,011,990 (17,858) 204,300,750 2. Accumulated amortization as of September 30, 2023 is as follows: Amortization Accumulated Foreign Accumulated as as of beginning currency of the end of the Class of the period Of the period translation period Seed and integrated products HB4 soy and breeding program 3,278,744 427,548 — 3,706,292 Integrated seed products 378,800 47,229 (961) 425,068 Crop nutrition Microbiological products 6,136,227 719,717 — 6,855,944 Other intangible assets Trademarks and patents 7,892,481 1,092,881 — 8,985,362 Software 3,594,721 379,398 (2,693) 3,971,426 Customer loyalty 7,241,689 80,433 — 7,322,122 Total 28,522,662 2,747,206 (3,654) 31,266,214 3. Gross carrying amount as of September 30, 2022 is as follows: Gross carrying amount As of the Additions from beginning business Foreign currency As of the end of Class of the period Additions combination translation the period Seed and integrated products HB4 soy and breeding program 31,371,088 361,006 — — 31,732,094 Integrated seed products 3,181,155 — — — 3,181,155 Crop nutrition Microbiological products 8,855,421 2,880,002 39,613,280 (3,945) 51,344,758 Other intangible assets Trademarks and patents 12,183,045 3,679 55,420,441 — 67,607,165 Software 5,176,373 206,184 — (1,652) 5,380,905 Customer loyalty 28,462,475 — 1,785,237 — 30,247,712 RG/RS/OX Wheat 5,000,000 — — — 5,000,000 Total 94,229,557 3,450,871 96,818,958 (5,597) 194,493,789 4. Accumulated amortization as of September 30, 2022 is as follows: Amortization Accumulated as Foreign Accumulated of beginning of currency as of the end Class the period Of the period translation of the period Seed and integrated products HB4 soy and breeding program 1,568,554 396,701 — 1,965,255 Integrated seed products 43,997 13,019 — 57,016 Crop nutrition Microbiological products 3,063,073 1,057,149 — 4,120,222 Other intangible assets Trademarks and patents 3,916,004 542,868 — 4,458,872 Software 3,008,388 141,044 (1,221) 3,148,211 Customer loyalty 5,924,672 326,051 — 6,250,723 Total 17,524,688 2,476,832 (1,221) 20,000,299 The amortization charge is included in Notes 6.3 and 6.4. 5.9. Goodwill 09/30/2023 06/30/2023 Rizobacter Argentina S.A. 28,080,271 28,080,271 Bioceres Crops S.A. 7,523,322 7,523,322 Pro farm Group, Inc. 76,089,749 76,089,749 Insumos Agroquímicos S.A. 470,090 470,090 112,163,432 112,163,432 There were no indicators of goodwill impairment. 5.10. Investment properties 09/30/2023 06/30/2023 Investment properties 3,675,493 3,589,749 3,675,493 3,589,749 5.11. Trade and other payables 09/30/2023 06/30/2023 Trade creditors 106,222,415 104,211,238 Shareholders and other related parties (Note 15) 27,708 35,292 Trade creditors - Parent company (Note 15) 270,645 644,191 Trade creditors - Joint ventures and associates (Note 15) 47,282,380 41,402,594 Taxes 5,138,674 3,561,058 Miscellaneous 183,536 953,301 159,125,358 150,807,674 5.12. Borrowings 09/30/2023 06/30/2023 Current Bank borrowings 60,473,023 61,303,952 Corporate bonds 29,745,450 35,547,510 Trust debt securities 6,936,758 7,296,506 Net loans payables- Parents companies and related parties to Parent (Note 15) 3,565,754 3,491,691 100,720,985 107,639,659 Non-current Bank borrowings 7,586,944 10,663,266 Corporate bonds 41,202,548 50,007,680 48,789,492 60,670,946 The carrying value of some borrowings as of September 30, 2023 are measured at amortized cost differ from their fair value. The following fair values measured are based on discounted cash flows (Level 3) due to the use of unobservable inputs, including own credit risk. 09/30/2023 06/30/2023 Amortized cost Fair value Amortized cost Fair value Current Bank borrowings 60,473,023 57,553,255 61,303,952 57,209,155 Corporate Bonds 29,745,450 29,389,136 35,547,510 34,725,828 Non-current Bank borrowings 7,586,944 5,620,759 10,663,266 10,374,646 Corporate Bonds 41,202,548 39,984,876 50,007,680 47,014,542 5.13. Secured Notes Secured Guaranteed Notes The carrying value of $25.9 million of the Secured Guaranteed Notes as of September 30, 2023 are measured at amortized cost. Its fair value based on discounted cash flows, using a fair interest rate, would amount to $26.1 million. Secured Convertible Guaranteed Notes The carrying value of $51.0 million of the Secured Convertible Guaranteed Notes as of September 30, 2023 are measured at amortized cost. Its fair value based on discounted cash flows, using a fair interest rate, would amount to $53.3 million. Under the terms of the Secured Convertible Guaranteed Notes, the Group is in compliance with covenants. 5.14. Employee benefits and social security 09/30/2023 06/30/2023 Salaries, accrued incentives, vacations and social security 9,685,549 9,388,639 Key management personnel (Note 15) 333,616 218,068 10,019,165 9,606,707 5.15. Deferred revenue and advances from customers 09/30/2023 06/30/2023 Current Advances from customers 17,019,407 9,216,032 Deferred revenue 15,752,495 15,659,630 32,771,902 24,875,662 Non-current Advances from customers 272,334 620,893 Deferred revenue 1,930,040 1,436,912 2,202,374 2,057,805 |
INFORMATION ABOUT COMPONENTS _2
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | 3 Months Ended |
Sep. 30, 2023 | |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | 6. INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 6.1. Revenue from contracts with customers 09/30/2023 09/30/2022 Sale of goods and services 115,628,792 126,113,636 Royalties 554,013 729,612 116,182,805 126,843,248 Transactions of sales of goods and services with joint ventures and with shareholders and other related parties are reported in Note 15. 6.2. Cost of sales Item 09/30/2023 09/30/2022 Inventories as of the beginning of the period 111,990,145 78,759,610 Business combination — 11,064,908 Purchases of the period 71,694,655 79,325,509 Production costs 7,123,255 8,440,830 Foreign currency translation (226,797) (236,263) Subtotal 190,581,258 177,354,594 Inventories as of the end of the period (*) (118,965,477) (101,678,716) Cost of sales 71,615,781 75,675,878 (*) 6.3. R&D classified by nature Research and Research and development development expenses expenses Item 09/30/2023 09/30/2022 Amortization of intangible assets 1,164,940 1,511,118 Analysis and storage — 11,568 Import and export expenses — 850 Depreciation of property, plant and equipment 157,808 142,373 Freight and haulage 3,917 5,300 Employee benefits and social securities 1,307,126 861,312 Maintenance 206,778 217,066 Energy and fuel 3,628 79,121 Supplies and materials 847,382 559,044 Mobility and travel 13,771 108,694 Share-based incentives 188,250 6,975 Professional fees and outsourced services 491,787 293,776 Office supplies 170,375 21,454 Information technology expenses 4,375 11,996 Insurance 21,049 10,537 Depreciation of leased assets — 10,650 Miscellaneous 55 180 Total 4,581,241 3,852,014 09/30/2023 09/30/2022 R&D capitalized (Note 5.8) 1,947,504 3,241,008 R&D profit and loss 4,581,241 3,852,014 Total 6,528,745 7,093,022 6.4. Expenses classified by nature and function Selling, general and Production administrative Total Item costs expenses 09/30/2023 Amortization of intangible assets 30,478 1,551,788 1,582,266 Analysis and storage 570 153,473 154,043 Commissions and royalties 134,592 794,058 928,650 Import and export expenses 67,228 120,345 187,573 Depreciation of property, plant and equipment 643,006 442,589 1,085,595 Depreciation of leased assets 339,378 497,821 837,199 Impairment of receivables — 352,920 352,920 Freight and haulage 643,877 2,989,094 3,632,971 Employee benefits and social securities 2,806,939 10,238,931 13,045,870 Maintenance 422,757 568,155 990,912 Energy and fuel 163,122 16,397 179,519 Supplies and materials 260,043 831,454 1,091,497 Mobility and travel 33,407 1,348,563 1,381,970 Publicity and advertising — 1,161,498 1,161,498 Contingencies — 27,109 27,109 Share-based incentives 275,432 5,729,986 6,005,418 Professional fees and outsourced services 509,450 1,575,982 2,085,432 Office supplies and registrations fees 149,888 370,770 520,658 Insurance 27,024 473,850 500,874 Information technology expenses 18,361 743,163 761,524 Obsolescence 505,285 — 505,285 Taxes 70,819 3,766,419 3,837,238 Miscellaneous 21,599 178,483 200,082 Total 7,123,255 33,932,848 41,056,103 Selling, general and Production administrative Total Item costs expenses 09/30/2022 Amortization of intangible assets 43,456 922,258 965,714 Analysis and storage 5,425 113,265 118,690 Commissions and royalties 118,960 623,459 742,419 Import and export expenses 98,186 256,070 354,256 Depreciation of property, plant and equipment 746,609 493,111 1,239,720 Depreciation of leased assets 395,972 269,805 665,777 Impairment of receivables — 156,053 156,053 Freight and haulage 241,533 3,474,028 3,715,561 Employee benefits and social securities 3,994,761 10,041,033 14,035,794 Maintenance 462,743 980,742 1,443,485 Energy and fuel 500,359 58,400 558,759 Supplies and materials 339,843 491,811 831,654 Mobility and travel 20,940 994,919 1,015,859 Publicity and advertising — 1,888,497 1,888,497 Contingencies — 2,448 2,448 Share-based incentives 100,206 120,170 220,376 Professional fees and outsourced services 674,014 4,610,610 5,284,624 Office supplies and registrations fees 32,546 289,467 322,013 Insurance 28,430 760,276 788,706 Information technology expenses 13,243 993,378 1,006,621 Obsolescence 539,382 79,107 618,489 Taxes 45,049 4,130,539 4,175,588 Miscellaneous 39,173 155,465 194,638 Total 8,440,830 31,904,911 40,345,741 6.5. Other income or expenses, net 09/30/2023 09/30/2022 Net result from commercialization of agricultural products (1,316,393) 6,327 Expenses recovery 87,053 126,061 Other income or expenses, net (2,295) 345,653 (1,231,635) 478,041 6.6. Finance results 09/30/2023 09/30/2022 Financial costs Interest expenses with the Parents (Note 15) (97,063) (149,734) Interest expenses (6,935,241) (5,569,576) Financial commissions (629,553) (1,060,537) (7,661,857) (6,779,847) Other financial results Exchange differences generated by assets (9,685,066) (833,428) Exchange differences generated by liabilities 10,335,537 6,322 Changes in fair value of financial assets or liabilities and other financial results (151,646) (569,032) Net gain of inflation effect on monetary items (380,960) 107,832 117,865 (1,288,306) |
TAXATION
TAXATION | 3 Months Ended |
Sep. 30, 2023 | |
TAXATION | |
TAXATION | 7. TAXATION Taxes on income in the interim periods are accrued using the tax rate that would be applicable to expected total annual earnings. 09/30/2023 09/30/2022 Current tax expense (6,457,134) (6,020,201) Deferred tax 6,028,094 1,007,558 Total (429,040) (5,012,643) 09/30/2023 09/30/2022 Beginning of the period deferred tax (28,472,383) (24,994,569) Additions for business combination — (16,704,770) Charge for the period 6,028,094 1,007,558 Conversion difference (3,718,889) (261,014) Total net deferred tax (26,163,178) (40,952,795) The tax on the Group’s profit before tax differs from the theoretical amount that would arise using the weighted average tax rate applicable to profits of the consolidated entities as follows: 09/30/2023 09/30/2022 Earning before income tax-rate (2,249,424) 8,924,643 Income tax expense by applying tax rate in force in the respective countries (1,721,853) (5,739,069) Share of profit or loss of subsidiaries, joint ventures and associates 530,177 313,280 Stock options charge (1,226,796) (57,818) Non-deductible expenses (383,074) (805,883) Unrecognized deferred tax — (895,896) Tax inflation adjustment 4,826,023 1,822,594 Result of inflation effect on monetary items and other finance results (2,352,623) 213,857 Others (100,894) 136,292 Income tax expenses (429,040) (5,012,643) |
EARNING PER SHARE
EARNING PER SHARE | 3 Months Ended |
Sep. 30, 2023 | |
EARNING PER SHARE | |
EARNING PER SHARE | 8. EARNING PER SHARE The numerators and denominators used in the calculation of basic EPS and diluted EPS are presented below: 09/30/2023 09/30/2022 Numerator (Loss) profit for the period (basic EPS) (4,591,634) 498,297 (Loss) profit for the period (diluted EPS) (4,591,634) 498,297 Denominator Weighted average number of shares (basic EPS) 62,846,690 60,537,110 Weighted average number of shares (diluted EPS) 62,846,690 61,736,679 Basic (loss) profit attributable to ordinary equity holders of the parent (0.0731) 0.0082 Diluted (loss) profit attributable to ordinary equity holders of the parent (0.0731) 0.0081 For the three-month period ended September 30, 2023 diluted EPS was equal to basic EPS as the effect of potential ordinary shares would be antidilutive. For the three-month period ended September 30, 2022, diluted earnings per share was calculated by adjusting the weighted average number of shares outstanding to assume conversion of all dilutive potential shares. The Group had two categories of dilutive potential shares, share-based incentives and the convertible notes. The stock options were included in the diluted EPS calculation for the period ended September 30, 2022 only for the tranches in which the average market price of ordinary shares during the periods was higher than the assumed proceeds per option. Convertible notes outstanding were not included in the diluted EPS calculations for the period ended September 30, 2022 because the interest (net of tax and other changes in income or expense) per ordinary share obtainable on conversion exceeds basic earnings per share. |
EQUITY INFORMATION
EQUITY INFORMATION | 3 Months Ended |
Sep. 30, 2023 | |
EQUITY INFORMATION | |
EQUITY INFORMATION | 9. EQUITY INFORMATION Capital issued As of September 30, 2023, we had (i) 100,000,000 ordinary shares ($0.0001 par value) authorized, (ii) 62,849,997 ordinary shares issued and outstanding outstanding Holders of the ordinary shares are entitled to one vote for each ordinary share. |
CASH FLOW INFORMATION
CASH FLOW INFORMATION | 3 Months Ended |
Sep. 30, 2023 | |
CASH FLOW INFORMATION | |
CASH FLOW INFORMATION | 10. CASH FLOW INFORMATION Significant non-cash transactions related to investing and financing activities are as follows: 09/30/2023 09/30/2022 Investment activities Net assets acquisition by business combination — 150,510,313 Investment in-kind in other related parties (Note 15) — 550,183 Capitalization of interest on buildings in progress 36,589 — 36,589 151,060,496 09/30/2023 09/30/2022 Financing activities Capitalization of convertible notes (Note 5.13) — 12,211,638 Purchase of own shares — (23,915,029) — (11,703,391) |
JOINT VENTURES AND ASSOCIATES
JOINT VENTURES AND ASSOCIATES | 3 Months Ended |
Sep. 30, 2023 | |
JOINT VENTURES AND ASSOCIATES | |
JOINT VENTURES AND ASSOCIATES | 11. JOINT VENTURES AND ASSOCIATES 09/30/2023 06/30/2023 Assets Synertech Industrias S.A. 37,550,684 36,026,710 Alfalfa Technologies S.R.L. 36,502 36,502 Moolec Science S.A. 3,233,598 3,233,598 40,820,784 39,296,810 09/30/2023 06/30/2023 Liabilities Trigall Genetics S.A. 638,126 622,823 638,126 622,823 Changes in joint ventures investments and affiliates: 09/30/2023 09/30/2022 As of the beginning of the period 38,673,987 37,836,144 Foreign currency translation — 100,868 Share of profit or loss 1,508,671 842,240 As of the end of the period 40,182,658 38,779,252 Share of profit or loss of joint ventures and affiliates: 09/30/2023 09/30/2022 Trigall Genetics S.A. (15,303) (132,117) Synertech Industrias S.A. 1,523,974 974,357 1,508,671 842,240 |
SEGMENT INFORMATION
SEGMENT INFORMATION | 3 Months Ended |
Sep. 30, 2023 | |
SEGMENT INFORMATION | |
SEGMENT INFORMATION | 12. SEGMENT INFORMATION The tables present information with respect to the Group´s reporting segments: Seed and integrated Crop Crop Period ended September 30, 2023 products protection nutrition Consolidated Revenues from contracts with customers Sale of goods and services 21,677,053 55,754,360 38,197,379 115,628,792 Royalties 554,013 — — 554,013 Others Initial recognition and changes in the fair value of biological assets at the point of harvest 87,844 172,118 150,951 410,913 Total 22,318,910 55,926,478 38,348,330 116,593,718 Cost of sales (14,110,381) (36,183,792) (21,321,608) (71,615,781) Gross profit per segment 8,208,529 19,742,686 17,026,722 44,977,937 % Gross margin 37 % 35 % 44 % 39 % Seed and integrated Crop Crop Period ended September 30, 2022 products protection nutrition Consolidated Revenues from contracts with customers Sale of goods and services 13,073,640 62,986,173 50,053,823 126,113,636 Royalties 729,612 — — 729,612 Others Initial recognition and changes in the fair value of biological assets at the point of harvest 51,451 89,573 348,982 490,006 Total 13,854,703 63,075,746 50,402,805 127,333,254 Cost of sales (5,539,489) (45,035,250) (25,101,139) (75,675,878) Gross profit per segment 8,315,214 18,040,496 25,301,666 51,657,376 % Gross margin 60 % 29 % 50 % 41 % As of the current period, changes in the net realizable value of agricultural products after harvest have been excluded from segment information since those results depend on market fluctuations which are beyond the Group’s operating control. The company has recast the comparative amounts. |
FINANCIAL INSTRUMENTS - RISK MA
FINANCIAL INSTRUMENTS - RISK MANAGEMENT | 3 Months Ended |
Sep. 30, 2023 | |
FINANCIAL INSTRUMENTS - RISK MANAGEMENT | |
FINANCIAL INSTRUMENTS - RISK MANAGEMENT | 13. FINANCIAL INSTRUMENTS – RISK MANAGEMENT Financial instruments by category The following tables show additional information required under IFRS 7 on the financial assets and liabilities recorded as of September 30, 2023, and June 30, 2023. Financial assets by category Mandatorily measured at fair Amortized cost value through profit or loss Financial asset 09/30/2023 06/30/2023 09/30/2023 06/30/2023 Cash and cash equivalents 25,954,730 48,129,194 2,419,194 — Other financial assets 502,910 657,612 14,628,202 11,922,317 Trade receivables 186,276,319 158,006,474 — — Other receivables (*) 11,753,573 12,124,724 — — Total 224,487,532 218,918,004 17,047,396 11,922,317 (*) Advances expenses and tax balances are not included. Financial liabilities by category Mandatorily measured at fair Amortized cost value through profit or loss Financial liability 09/30/2023 06/30/2023 09/30/2023 06/30/2023 Trade and other payables 152,753,083 142,582,166 6,372,275 8,225,508 Borrowings 149,510,477 168,310,605 — — Secured notes 76,911,874 75,213,146 — — Lease liability 13,552,751 13,889,223 — — Consideration for acquisition of assets 6,742,570 4,993,256 — — Total 399,470,755 404,988,396 6,372,275 8,225,508 Financial instruments measured at fair value Measurement at fair value at 09/30/2023 Level 1 Level 2 Level 3 Financial assets at fair value US Treasury bills 9,719,486 — — Mutual funds 3,236,702 — — Other investments 1,672,014 — — Financial liability at fair value Trade and other payables — 6,372,275 — Measurement at fair value at 06/30/2023 Level 1 Level 2 Level 3 Financial assets at fair value US Treasury bills 9,163,298 — — Mutual funds 1,596,539 — — Other investments 1,162,480 — — Financial liability at fair value Trade and other payables — 8,225,508 — Estimation of fair value The fair value of marketable securities, mutual funds and US Treasury Bills is calculated using the market approach using quoted prices in active markets for identical assets. The quoted marked price used for financial assets held by the Group is the current bid price. These instruments are included in level 1. The Group’s financial liabilities, which were not traded in an active market, were determined using valuation techniques that maximize the use of available market information, and thus rely as little as possible on specific estimates of the entity specific estimates. If all significant inputs required to fair value an instrument are observable, the instruments are included in level 2. If one or more of the significant inputs is not based on observable market data, the instruments are included in level 3. The Group’s policy is to recognize transfers between different categories of the fair value hierarchy at the time they occur or when there are changes in the circumstances that cause the transfer. There were no transfers between levels of the fair value hierarchy. There were no changes in economic or business circumstances affecting fair value. Financial instruments not measured at fair value The financial instruments not measured at fair value include cash and cash equivalents, trade accounts receivable, other accounts receivable, trade payables and other debts, borrowings, financed payments and convertible notes. The carrying value of financial instruments not measured at fair value does not differ significantly from their fair value, except for borrowings (Note 5.12). Management estimates that the carrying value of the financial instruments measured at amortized cost approximates their fair value. Currency risk Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rate. Currency on foreign exchange risk arises when the Group enters into transactions denominated in a currency other than its functional currency. The table below sets forth our net exposure to currency risk as of September 30, 2023: Net foreign currency position 09/30/2023 Amount expressed in US$ (5,353,860) Considering only this net currency exposure as of September 30, 2023 if an US Dollar revaluation or depreciation in relation to other foreign currencies with the remaining variables remaining constant, would have a positive or a negative impact on comprehensive income as a result of foreign exchange gains or losses. We estimate that a devaluation or an appreciation of the US Dollar other currencies of 10% during the period ended September 30, 2023 would have resulted in a net pre-tax loss or gain of approximately $0.5 million. |
LEASES
LEASES | 3 Months Ended |
Sep. 30, 2023 | |
LEASES | |
LEASES | 14. LEASES Right-of-use leased asset 09/30/2023 06/30/2023 Book value at the beginning of the period/year 21,163,192 15,828,032 Additions of the period/year 1,072,418 3,154,950 Additions from business combination — 3,005,000 Disposals (461,631) (1,839,921) Exchange differences (513,269) 1,015,131 Book value at the end of the period/year 21,260,710 21,163,192 Depreciation 09/30/2023 06/30/2023 Book value at the beginning of the period/year 7,226,617 3,684,006 Depreciation of the period/year 837,199 3,565,894 Disposals (274,431) (171,870) Exchange differences (47,874) 148,587 Accumulated depreciation at the end of the period/year 7,741,511 7,226,617 Total 13,519,199 13,936,575 Lease liability 09/30/2023 06/30/2023 Book value at the beginning of the period/year 13,889,223 11,751,284 Additions of the period/year 1,072,418 3,154,950 Additions from business combination — 3,245,000 Interest expenses, exchange differences and inflation effects (238,851) (406,494) Payments of the period/year (1,170,039) (3,855,517) Total 13,552,751 13,889,223 Lease Liabilities 09/30/2023 06/30/2023 Non-current 9,225,862 10,030,524 Current 4,326,889 3,858,699 Total 13,552,751 13,889,223 The recognized right-of-use assets relate to the following types of assets: 09/30/2023 06/30/2023 Machinery and equipment 3,655,741 3,655,741 Vehicles 1,433,616 1,475,581 Equipment and computer software 1,011,490 903,306 Land and buildings 15,159,863 15,128,564 21,260,710 21,163,192 The incremental borrowing rate used was 2.13 %. |
SHAREHOLDERS AND OTHER RELATED
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | 3 Months Ended |
Sep. 30, 2023 | |
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | |
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | 15. SHAREHOLDERS AND OTHER RELAED PARTIES BALANCES AND TRANSACTIONS During the period ended September 30, 2023, and 2022, the transactions between the Group and related parties, and the related balances owed by and to them, are as follows: Value of transactions for the period ended Party Transaction type 09/30/2023 09/30/2022 Joint ventures and associates Sales and services 6,801,117 17,083,027 Joint ventures and associates Purchases of goods and services (20,691,171) (25,314,814) Key management personnel Salaries, social security benefits and other benefits (6,702,803) (648,494) Shareholders and other related parties Sales of goods and services 1,590,568 261,418 Shareholders and other related parties Purchases of goods and services (196,051) (239,772) Shareholders and other related parties In-kind contributions — 550,183 Shareholders and other related parties Net loans granted/(cancelled) — (1,609) Shareholders and other related parties Interest expenses (23,000) — Parent company and related parties to Parent (Note 6.6) Interest expenses (97,063) (149,734) Total (19,318,403) (8,459,795) Amounts receivable from related parties Party Transaction type 09/30/2023 06/30/2023 Shareholders and other related parties Other receivables 1,368,373 — Shareholders and other related parties Other receivables 2,919,431 3,792,429 Joint ventures and associates Trade debtors 781,451 865,627 Joint ventures and associates Other receivables 6,699,863 6,334,219 Total 11,769,118 10,992,275 Amounts payable to related parties Party Transaction type 09/30/2023 06/30/2022 Parent company and related parties to Parent Trade creditors (270,645) (644,191) Parent company and related parties to Parent Net loans payables (3,565,754) (3,491,691) Key management personnel Salaries, social security benefits and other benefits (333,616) (218,068) Shareholders and other related parties Trade and other payables (27,708) (35,292) Joint ventures and associates Trade creditors (47,282,380) (41,402,594) Total (51,480,103) (45,791,836) |
KEY MANAGEMENT PERSONNEL COMPEN
KEY MANAGEMENT PERSONNEL COMPENSATION | 3 Months Ended |
Sep. 30, 2023 | |
KEY MANAGEMENT PERSONNEL COMPENSATION | |
KEY MANAGEMENT PERSONNEL COMPENSATION | 16. KEY MANAGEMENT PERSONNEL COMPENSATION The compensation of directors and other members of key management personnel, including social contributions and other benefits, were as follows for the period ended September 30, 2023, and 2022. 09/30/2023 09/30/2022 Salaries, social security and other benefits 509,135 421,143 Share-based incentives 6,193,668 227,351 Total 6,702,803 648,494 |
SHARE-BASED PAYMENT
SHARE-BASED PAYMENT | 3 Months Ended |
Sep. 30, 2023 | |
SHARE-BASED PAYMENT | |
SHARE-BASED PAYMENT | 17. SHARE-BASED PAYMENT Pursuant to the 2023 Omnibus Equity Incentive Plan approved on May 12, 2023, in August 2023 the Board has granted the following stock options plan to certain directors, executives and management of the Group. - Past Share Option plan: immediately vested options with a strike price between $11.93 and $13.24. - Base Share Option plan: to vest and become exercisable in equal installments on June 30, 2023, June 30, 2024, and June 30, 2025, with a strike price of $10.47. - Performance Share Option plan: to vest and become exercisable if the Company’s fiscal year 2025 EBITDA reaches at least US$120 million, at 0% of the award, and linearly thereafter up to 100% of the awarded options when reaching at least US$150 million. This option has also a strike price of $10.47. The fair value of the stock options at the grant date was estimated using the “Black-Scholes” model considering the terms and conditions under which the stock options were granted and adjusted to consider the possible dilutive effect of the future exercise of options. As of September 30, 2023, the expenses associated with share-based incentive plans are included in results within “Share-based incentives” along with the associated increase in net worth. |
CONTINGENCIES, COMMITMENTS AND
CONTINGENCIES, COMMITMENTS AND RESTRICTIONS ON THE DISTRIBUTION OF PROFITS | 3 Months Ended |
Sep. 30, 2023 | |
CONTINGENCIES, COMMITMENTS AND RESTRICTIONS ON THE DISTRIBUTION OF PROFITS | |
CONTINGENCIES, COMMITMENTS AND RESTRICTIONS ON THE DISTRIBUTION OF PROFITS | 18. CONTINGENCIES, COMMITMENTS AND RESTRICTIONS ON THE DISTRIBUTION OF PROFITS There were no other significant changes to the contingencies, commitments and restrictions on the distribution of profits from the disclosure made in the Consolidated financial statement as of June 30, 2023. |
EVENTS OCCURRING AFTER THE REPO
EVENTS OCCURRING AFTER THE REPORTING PERIOD | 3 Months Ended |
Sep. 30, 2023 | |
EVENTS OCCURRING AFTER THE REPORTING PERIOD | |
EVENTS OCCURRING AFTER THE REPORTING PERIOD | 19. EVENTS OCCURRING AFTER THE REPORTING PERIOD Subsequent to September 30, 2023, there have been no other situations or circumstances that may require significant adjustments or further disclosure in these consolidated financial statements that were not mentioned above. |
ACCOUNTING STANDARDS AND BASI_2
ACCOUNTING STANDARDS AND BASIS OF PRESENTATION (Policies) | 3 Months Ended |
Sep. 30, 2023 | |
ACCOUNTING STANDARDS AND BASIS OF PREPARATION | |
Basis of measurement | Basis of measurement The consolidated financial statements of the Group have been prepared using: ● Going concern basis of accounting, considering the conclusion of the assessment made by the Group’s Management about the ability of the Group and its subsidiaries to continue as a going concern, in accordance with the requirements of paragraph 25 of IAS 1, “Presentation of Financial Statements”. ● Accrual basis of accounting (except for cash flows information). Under this basis of accounting, the effects of transactions and other events are recognized as they occur, even when there are no cash flows. |
Functional currency | a) Functional currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic market in which the entity operates (i.e., “the functional currency”). |
Presentation currency | b) Presentation currency The consolidated financial statements of the Group are presented in US dollars. |
Foreign currency | c) Foreign currency Transactions entered into by Group entities in a currency other than their functional currency are recorded at the relevant exchange rates as of the date upon which such transactions occur. Foreign currency monetary assets and liabilities are translated at the prevailing exchanges rates as of the final day of each reporting period. Exchange differences arising from the retranslation of unsettled monetary assets and liabilities are recognized immediately in profit or loss, except for foreign currency borrowings qualifying as a hedge of a net investment in a foreign operation for which exchange differences are recognized in other comprehensive income and accumulated in the foreign exchange reserve along with the exchange differences arising from the retranslation of the foreign operation. Upon the disposal of a foreign operation, the cumulative exchange differences recognized in the foreign exchange reserve relating to such operation up to the date of disposal are transferred to the consolidated statement of profit or loss and other comprehensive income as part of the gain or loss recognized upon such disposal. |
Changes in accounting policies | Changes in accounting policies The accounting policies adopted in the preparation of these unaudited interim condensed consolidated financial statements are consistent with those adopted for the preparation of the consolidated financial statements as of June 30, 2023. |
INFORMATION ABOUT COMPONENTS _3
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION | |
Schedule of cash and cash equivalents | 09/30/2023 06/30/2023 Cash at bank and on hand 25,954,730 48,129,194 Mutual funds 2,419,194 — 28,373,924 48,129,194 |
Schedule of other financial assets | 09/30/2023 06/30/2023 Current Restricted short-term deposits — 212,703 US Treasury bills 9,719,486 9,163,298 Mutual funds 3,236,702 1,596,539 Other investments 1,672,014 1,162,480 14,628,202 12,135,020 09/30/2023 06/30/2023 Non-current Shares of Bioceres S.A. 444,575 444,635 Other investments 58,335 274 502,910 444,909 |
Schedule of trade receivables | 09/30/2023 06/30/2023 Current Trade debtors 189,222,562 160,269,233 Allowance for impairment of trade debtors (7,615,433) (7,425,604) Shareholders and other related parties (Note 15) 1,368,373 — Allowance for credit notes to be issued (2,610,596) (3,694,019) Trade debtors - Joint ventures and associates (Note 15) 781,451 865,627 Deferred checks 5,129,962 7,991,237 186,276,319 158,006,474 |
Schedule of other receivables | 09/30/2023 06/30/2023 Current Taxes 6,009,626 6,113,764 Receivables for PP&E sales 89,715 156,423 Shareholders and other related parties (Note 15) 2,919,431 3,792,429 Other receivables - Joint ventures and associates (Note 15) 6,469,863 6,104,219 Prepayments to suppliers 5,010,022 10,956,831 Reimbursements over exports 10,558 10,558 Prepaid expenses and other receivables 3,657,633 1,302,221 Miscellaneous 735,655 388,553 24,902,503 28,824,998 09/30/2023 06/30/2023 Non-current Taxes 865,588 873,699 Reimbursements over exports 1,268,928 1,290,227 Loans receivables 230,000 230,000 Miscellaneous 29,423 152,315 2,393,939 2,546,241 |
Schedule of inventories | 09/30/2023 06/30/2023 Seeds 9,293,210 1,542,159 Resale products 71,973,203 58,544,931 Manufactured products 19,604,930 25,881,761 Goods in transit 2,298,136 3,620,606 Supplies 18,709,303 24,893,187 Agricultural products 19,111,345 28,436,830 Allowance for obsolescence (2,913,305) (2,492,499) 138,076,822 140,426,975 Net of agricultural products 118,965,477 111,990,145 |
Schedule of changes in biological assets | Soybean Corn Wheat Barley Sunflower Total Beginning of the period — — 87,785 59,057 — 146,842 Initial recognition and changes in the fair value of biological assets at the point of harvest — — 276,511 134,402 — 410,913 Costs incurred during the period 374,456 177,601 — — 31,301 583,358 Period ended September 30, 2023 374,456 177,601 364,296 193,459 31,301 1,141,113 Wheat Barley Total Beginning of the period 44,413 12,900 57,313 Initial recognition and changes in the fair value of biological assets at the point of harvest 365,833 124,173 490,006 Costs incurred during the period 378,631 122,837 501,468 Exchange differences (16,699) (5,344) (22,043) Period ended September 30, 2022 772,178 254,566 1,026,744 |
Schedule of property plant and equipment | 09/30/2023 06/30/2023 Gross carrying amount 96,833,359 93,634,779 Accumulated depreciation (26,902,650) (25,780,944) Net carrying amount 69,930,709 67,853,835 |
Schedule of net carrying amount | Net carrying Net carrying amount amount Class 09/30/2023 06/30/2023 Office equipment 280,905 263,892 Vehicles 1,862,542 2,032,853 Equipment and computer software 167,741 174,399 Fixtures and fittings 2,676,861 2,862,949 Machinery and equipment 13,970,593 14,463,756 Land and buildings 35,640,076 36,144,792 Buildings in progress 15,331,991 11,911,194 Total 69,930,709 67,853,835 |
Schedule of gross carrying amount | 1. Gross carrying amount as of September 30, 2023 is as follows: Gross carrying amount As of the beginning Foreign As of the of the currency end of the Class period Additions Disposals translation period Office equipment 968,088 34,918 — (2,764) 1,000,242 Vehicles 5,492,319 28,680 (45,062) (1,498) 5,474,439 Equipment and computer software 974,509 30,188 — (5,857) 998,840 Fixtures and fittings 7,663,899 — — (2,126) 7,661,773 Machinery and equipment 23,513,047 176,837 — (91,465) 23,598,419 Land and buildings 43,111,723 — — (344,068) 42,767,655 Buildings in progress 11,911,194 3,678,037 — (257,240) 15,331,991 Total 93,634,779 3,948,660 (45,062) (705,018) 96,833,359 3. Gross carrying amount as of September 30, 2022 is as follows: Gross carrying amount As of the Additions Foreign As of the beginning from business currency end of the Class of the period Additions combination Disposals translation period Office equipment 908,004 — — — (15,172) 892,832 Vehicles 5,261,979 226,051 — (59,744) (6,243) 5,422,043 Equipment and computer software 925,349 41,658 12,469 — (6,667) 972,809 Fixtures and fittings 7,606,389 33,869 5,379 — (5,539) 7,640,098 Machinery and equipment 13,017,830 107,717 7,047,496 — (24,469) 20,148,574 Land and buildings 40,659,129 — 4,750,136 — (313,148) 45,096,117 Buildings in progress 3,142,774 1,005,435 1,285,092 — (17,941) 5,415,360 Total 71,521,454 1,414,730 13,100,572 (59,744) (389,179) 85,587,833 |
Schedule of accumulated depreciation | 2. Accumulated depreciation as of September 30, 2023 is as follows: Depreciation Accumulated as of the Foreign Accumulated beginning of currency as of the end Class the period Disposals Of the period translation of the period Office equipment 704,196 — 17,004 (1,863) 719,337 Vehicles 3,459,466 (36,049) 188,532 (52) 3,611,897 Equipment and computer software 800,110 — 35,963 (4,974) 831,099 Fixtures and fittings 4,800,950 — 184,877 (915) 4,984,912 Machinery and equipment 9,049,291 — 595,729 (17,194) 9,627,826 Land and buildings 6,966,931 — 221,298 (60,650) 7,127,579 Total 25,780,944 (36,049) 1,243,403 (85,648) 26,902,650 4. Accumulated depreciation as of September 30, 2022 is as follows: Depreciation Accumulated as of the Foreign Accumulated beginning of Of the currency as of the end Class the period Disposals period translation of the period Office equipment 638,466 — 17,053 (16,931) 638,588 Vehicles 2,596,905 (59,744) 226,899 (3,364) 2,760,696 Equipment and computer software 693,673 — 28,914 (476) 722,111 Fixtures and fittings 4,059,470 — 206,830 (23,814) 4,242,486 Machinery and equipment 7,205,870 — 679,201 (180,089) 7,704,982 Land and buildings 6,418,745 — 223,196 (695) 6,641,246 Total 21,613,129 (59,744) 1,382,093 (225,369) 22,710,109 |
Schedule of intangible assets | 09/30/2023 06/30/2023 Gross carrying amount 204,300,750 202,306,618 Accumulated amortization (31,266,214) (28,522,662) Net carrying amount 173,034,536 173,783,956 |
Schedule of net carrying amount of intangibles | Net carrying Net carrying amount amount Class 09/30/2023 06/30/2023 Seed and integrated products HB4 soy and breeding program 31,476,363 31,679,681 Integrated seed products 2,786,562 2,841,008 Crop nutrition Microbiological products 50,506,239 49,508,801 Other intangible assets Trademarks and patents 58,730,415 59,760,753 Software 1,609,367 1,987,690 Customer loyalty 22,925,590 23,006,023 RG/RS/OX Wheat 5,000,000 5,000,000 Total 173,034,536 173,783,956 |
Schedule of gross carrying amounts of intangibles | 1. Gross carrying amount as of September 30, 2023 is as follows: Gross carrying amount As of the Foreign As of the beginning of currency end of the Class the period Additions translation period Seed and integrated products HB4 soy and breeding program 34,958,425 224,230 — 35,182,655 Integrated seed products 3,219,808 — (8,178) 3,211,630 Crop nutrition Microbiological products 55,645,028 1,723,274 (6,119) 57,362,183 Other intangible assets Trademarks and patents 67,653,234 62,543 — 67,715,777 Software 5,582,411 1,943 (3,561) 5,580,793 Customer loyalty 30,247,712 — — 30,247,712 RG/RS/OX Wheat 5,000,000 — — 5,000,000 Total 202,306,618 2,011,990 (17,858) 204,300,750 3. Gross carrying amount as of September 30, 2022 is as follows: Gross carrying amount As of the Additions from beginning business Foreign currency As of the end of Class of the period Additions combination translation the period Seed and integrated products HB4 soy and breeding program 31,371,088 361,006 — — 31,732,094 Integrated seed products 3,181,155 — — — 3,181,155 Crop nutrition Microbiological products 8,855,421 2,880,002 39,613,280 (3,945) 51,344,758 Other intangible assets Trademarks and patents 12,183,045 3,679 55,420,441 — 67,607,165 Software 5,176,373 206,184 — (1,652) 5,380,905 Customer loyalty 28,462,475 — 1,785,237 — 30,247,712 RG/RS/OX Wheat 5,000,000 — — — 5,000,000 Total 94,229,557 3,450,871 96,818,958 (5,597) 194,493,789 |
Schedule of accumulated amortization of intangibles | 2. Accumulated amortization as of September 30, 2023 is as follows: Amortization Accumulated Foreign Accumulated as as of beginning currency of the end of the Class of the period Of the period translation period Seed and integrated products HB4 soy and breeding program 3,278,744 427,548 — 3,706,292 Integrated seed products 378,800 47,229 (961) 425,068 Crop nutrition Microbiological products 6,136,227 719,717 — 6,855,944 Other intangible assets Trademarks and patents 7,892,481 1,092,881 — 8,985,362 Software 3,594,721 379,398 (2,693) 3,971,426 Customer loyalty 7,241,689 80,433 — 7,322,122 Total 28,522,662 2,747,206 (3,654) 31,266,214 4. Accumulated amortization as of September 30, 2022 is as follows: Amortization Accumulated as Foreign Accumulated of beginning of currency as of the end Class the period Of the period translation of the period Seed and integrated products HB4 soy and breeding program 1,568,554 396,701 — 1,965,255 Integrated seed products 43,997 13,019 — 57,016 Crop nutrition Microbiological products 3,063,073 1,057,149 — 4,120,222 Other intangible assets Trademarks and patents 3,916,004 542,868 — 4,458,872 Software 3,008,388 141,044 (1,221) 3,148,211 Customer loyalty 5,924,672 326,051 — 6,250,723 Total 17,524,688 2,476,832 (1,221) 20,000,299 |
Schedule of carrying amount of goodwill | 09/30/2023 06/30/2023 Rizobacter Argentina S.A. 28,080,271 28,080,271 Bioceres Crops S.A. 7,523,322 7,523,322 Pro farm Group, Inc. 76,089,749 76,089,749 Insumos Agroquímicos S.A. 470,090 470,090 112,163,432 112,163,432 |
Summary of investment properties | 09/30/2023 06/30/2023 Investment properties 3,675,493 3,589,749 3,675,493 3,589,749 |
Schedule of trade and other payable | 09/30/2023 06/30/2023 Trade creditors 106,222,415 104,211,238 Shareholders and other related parties (Note 15) 27,708 35,292 Trade creditors - Parent company (Note 15) 270,645 644,191 Trade creditors - Joint ventures and associates (Note 15) 47,282,380 41,402,594 Taxes 5,138,674 3,561,058 Miscellaneous 183,536 953,301 159,125,358 150,807,674 |
Schedule of borrowings | 09/30/2023 06/30/2023 Current Bank borrowings 60,473,023 61,303,952 Corporate bonds 29,745,450 35,547,510 Trust debt securities 6,936,758 7,296,506 Net loans payables- Parents companies and related parties to Parent (Note 15) 3,565,754 3,491,691 100,720,985 107,639,659 Non-current Bank borrowings 7,586,944 10,663,266 Corporate bonds 41,202,548 50,007,680 48,789,492 60,670,946 |
Schedule of carrying value of borrowings | 09/30/2023 06/30/2023 Amortized cost Fair value Amortized cost Fair value Current Bank borrowings 60,473,023 57,553,255 61,303,952 57,209,155 Corporate Bonds 29,745,450 29,389,136 35,547,510 34,725,828 Non-current Bank borrowings 7,586,944 5,620,759 10,663,266 10,374,646 Corporate Bonds 41,202,548 39,984,876 50,007,680 47,014,542 |
Schedule of employee benefits and social security | 09/30/2023 06/30/2023 Salaries, accrued incentives, vacations and social security 9,685,549 9,388,639 Key management personnel (Note 15) 333,616 218,068 10,019,165 9,606,707 |
Schedule of deferred revenue and advances from customers | 09/30/2023 06/30/2023 Current Advances from customers 17,019,407 9,216,032 Deferred revenue 15,752,495 15,659,630 32,771,902 24,875,662 Non-current Advances from customers 272,334 620,893 Deferred revenue 1,930,040 1,436,912 2,202,374 2,057,805 |
INFORMATION ABOUT COMPONENTS _4
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |
Schedule of revenue from contracts with customers | 09/30/2023 09/30/2022 Sale of goods and services 115,628,792 126,113,636 Royalties 554,013 729,612 116,182,805 126,843,248 |
Schedule of cost of sales | Item 09/30/2023 09/30/2022 Inventories as of the beginning of the period 111,990,145 78,759,610 Business combination — 11,064,908 Purchases of the period 71,694,655 79,325,509 Production costs 7,123,255 8,440,830 Foreign currency translation (226,797) (236,263) Subtotal 190,581,258 177,354,594 Inventories as of the end of the period (*) (118,965,477) (101,678,716) Cost of sales 71,615,781 75,675,878 (*) |
Schedule of R&D classified by nature | Research and Research and development development expenses expenses Item 09/30/2023 09/30/2022 Amortization of intangible assets 1,164,940 1,511,118 Analysis and storage — 11,568 Import and export expenses — 850 Depreciation of property, plant and equipment 157,808 142,373 Freight and haulage 3,917 5,300 Employee benefits and social securities 1,307,126 861,312 Maintenance 206,778 217,066 Energy and fuel 3,628 79,121 Supplies and materials 847,382 559,044 Mobility and travel 13,771 108,694 Share-based incentives 188,250 6,975 Professional fees and outsourced services 491,787 293,776 Office supplies 170,375 21,454 Information technology expenses 4,375 11,996 Insurance 21,049 10,537 Depreciation of leased assets — 10,650 Miscellaneous 55 180 Total 4,581,241 3,852,014 09/30/2023 09/30/2022 R&D capitalized (Note 5.8) 1,947,504 3,241,008 R&D profit and loss 4,581,241 3,852,014 Total 6,528,745 7,093,022 |
Schedule of expenses classified by nature and function | Selling, general and Production administrative Total Item costs expenses 09/30/2023 Amortization of intangible assets 30,478 1,551,788 1,582,266 Analysis and storage 570 153,473 154,043 Commissions and royalties 134,592 794,058 928,650 Import and export expenses 67,228 120,345 187,573 Depreciation of property, plant and equipment 643,006 442,589 1,085,595 Depreciation of leased assets 339,378 497,821 837,199 Impairment of receivables — 352,920 352,920 Freight and haulage 643,877 2,989,094 3,632,971 Employee benefits and social securities 2,806,939 10,238,931 13,045,870 Maintenance 422,757 568,155 990,912 Energy and fuel 163,122 16,397 179,519 Supplies and materials 260,043 831,454 1,091,497 Mobility and travel 33,407 1,348,563 1,381,970 Publicity and advertising — 1,161,498 1,161,498 Contingencies — 27,109 27,109 Share-based incentives 275,432 5,729,986 6,005,418 Professional fees and outsourced services 509,450 1,575,982 2,085,432 Office supplies and registrations fees 149,888 370,770 520,658 Insurance 27,024 473,850 500,874 Information technology expenses 18,361 743,163 761,524 Obsolescence 505,285 — 505,285 Taxes 70,819 3,766,419 3,837,238 Miscellaneous 21,599 178,483 200,082 Total 7,123,255 33,932,848 41,056,103 Selling, general and Production administrative Total Item costs expenses 09/30/2022 Amortization of intangible assets 43,456 922,258 965,714 Analysis and storage 5,425 113,265 118,690 Commissions and royalties 118,960 623,459 742,419 Import and export expenses 98,186 256,070 354,256 Depreciation of property, plant and equipment 746,609 493,111 1,239,720 Depreciation of leased assets 395,972 269,805 665,777 Impairment of receivables — 156,053 156,053 Freight and haulage 241,533 3,474,028 3,715,561 Employee benefits and social securities 3,994,761 10,041,033 14,035,794 Maintenance 462,743 980,742 1,443,485 Energy and fuel 500,359 58,400 558,759 Supplies and materials 339,843 491,811 831,654 Mobility and travel 20,940 994,919 1,015,859 Publicity and advertising — 1,888,497 1,888,497 Contingencies — 2,448 2,448 Share-based incentives 100,206 120,170 220,376 Professional fees and outsourced services 674,014 4,610,610 5,284,624 Office supplies and registrations fees 32,546 289,467 322,013 Insurance 28,430 760,276 788,706 Information technology expenses 13,243 993,378 1,006,621 Obsolescence 539,382 79,107 618,489 Taxes 45,049 4,130,539 4,175,588 Miscellaneous 39,173 155,465 194,638 Total 8,440,830 31,904,911 40,345,741 |
Schedule of other income or expenses, net | 09/30/2023 09/30/2022 Net result from commercialization of agricultural products (1,316,393) 6,327 Expenses recovery 87,053 126,061 Other income or expenses, net (2,295) 345,653 (1,231,635) 478,041 |
Schedule of net financial cost | 09/30/2023 09/30/2022 Financial costs Interest expenses with the Parents (Note 15) (97,063) (149,734) Interest expenses (6,935,241) (5,569,576) Financial commissions (629,553) (1,060,537) (7,661,857) (6,779,847) Other financial results Exchange differences generated by assets (9,685,066) (833,428) Exchange differences generated by liabilities 10,335,537 6,322 Changes in fair value of financial assets or liabilities and other financial results (151,646) (569,032) Net gain of inflation effect on monetary items (380,960) 107,832 117,865 (1,288,306) |
TAXATION (Tables)
TAXATION (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
TAXATION | |
Schedule of current tax | 09/30/2023 09/30/2022 Current tax expense (6,457,134) (6,020,201) Deferred tax 6,028,094 1,007,558 Total (429,040) (5,012,643) |
Schedule of net deferred tax | 09/30/2023 09/30/2022 Beginning of the period deferred tax (28,472,383) (24,994,569) Additions for business combination — (16,704,770) Charge for the period 6,028,094 1,007,558 Conversion difference (3,718,889) (261,014) Total net deferred tax (26,163,178) (40,952,795) |
Schedule of reconciliation of the statutory tax rate to the effective tax rate | 09/30/2023 09/30/2022 Earning before income tax-rate (2,249,424) 8,924,643 Income tax expense by applying tax rate in force in the respective countries (1,721,853) (5,739,069) Share of profit or loss of subsidiaries, joint ventures and associates 530,177 313,280 Stock options charge (1,226,796) (57,818) Non-deductible expenses (383,074) (805,883) Unrecognized deferred tax — (895,896) Tax inflation adjustment 4,826,023 1,822,594 Result of inflation effect on monetary items and other finance results (2,352,623) 213,857 Others (100,894) 136,292 Income tax expenses (429,040) (5,012,643) |
EARNING PER SHARE (Tables)
EARNING PER SHARE (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
EARNING PER SHARE | |
Schedule of earnings per share | 09/30/2023 09/30/2022 Numerator (Loss) profit for the period (basic EPS) (4,591,634) 498,297 (Loss) profit for the period (diluted EPS) (4,591,634) 498,297 Denominator Weighted average number of shares (basic EPS) 62,846,690 60,537,110 Weighted average number of shares (diluted EPS) 62,846,690 61,736,679 Basic (loss) profit attributable to ordinary equity holders of the parent (0.0731) 0.0082 Diluted (loss) profit attributable to ordinary equity holders of the parent (0.0731) 0.0081 |
CASH FLOW INFORMATION (Tables)
CASH FLOW INFORMATION (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
CASH FLOW INFORMATION | |
Schedule of significant non-cash transactions related to investing and financing activities | 09/30/2023 09/30/2022 Investment activities Net assets acquisition by business combination — 150,510,313 Investment in-kind in other related parties (Note 15) — 550,183 Capitalization of interest on buildings in progress 36,589 — 36,589 151,060,496 09/30/2023 09/30/2022 Financing activities Capitalization of convertible notes (Note 5.13) — 12,211,638 Purchase of own shares — (23,915,029) — (11,703,391) |
JOINT VENTURES AND ASSOCIATES (
JOINT VENTURES AND ASSOCIATES (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
JOINT VENTURES AND ASSOCIATES | |
Schedule of investments in joint ventures and associates | 09/30/2023 06/30/2023 Assets Synertech Industrias S.A. 37,550,684 36,026,710 Alfalfa Technologies S.R.L. 36,502 36,502 Moolec Science S.A. 3,233,598 3,233,598 40,820,784 39,296,810 09/30/2023 06/30/2023 Liabilities Trigall Genetics S.A. 638,126 622,823 638,126 622,823 |
Schedule of share of profit or loss of joint ventures and associates | 09/30/2023 09/30/2022 Trigall Genetics S.A. (15,303) (132,117) Synertech Industrias S.A. 1,523,974 974,357 1,508,671 842,240 |
Schedule of changes in joint ventures | 09/30/2023 09/30/2022 As of the beginning of the period 38,673,987 37,836,144 Foreign currency translation — 100,868 Share of profit or loss 1,508,671 842,240 As of the end of the period 40,182,658 38,779,252 |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
SEGMENT INFORMATION | |
Schedule of operating results group's reporting segments | Seed and integrated Crop Crop Period ended September 30, 2023 products protection nutrition Consolidated Revenues from contracts with customers Sale of goods and services 21,677,053 55,754,360 38,197,379 115,628,792 Royalties 554,013 — — 554,013 Others Initial recognition and changes in the fair value of biological assets at the point of harvest 87,844 172,118 150,951 410,913 Total 22,318,910 55,926,478 38,348,330 116,593,718 Cost of sales (14,110,381) (36,183,792) (21,321,608) (71,615,781) Gross profit per segment 8,208,529 19,742,686 17,026,722 44,977,937 % Gross margin 37 % 35 % 44 % 39 % Seed and integrated Crop Crop Period ended September 30, 2022 products protection nutrition Consolidated Revenues from contracts with customers Sale of goods and services 13,073,640 62,986,173 50,053,823 126,113,636 Royalties 729,612 — — 729,612 Others Initial recognition and changes in the fair value of biological assets at the point of harvest 51,451 89,573 348,982 490,006 Total 13,854,703 63,075,746 50,402,805 127,333,254 Cost of sales (5,539,489) (45,035,250) (25,101,139) (75,675,878) Gross profit per segment 8,315,214 18,040,496 25,301,666 51,657,376 % Gross margin 60 % 29 % 50 % 41 % |
FINANCIAL INSTRUMENTS - RISK _2
FINANCIAL INSTRUMENTS - RISK MANAGEMENT (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
FINANCIAL INSTRUMENTS - RISK MANAGEMENT | |
Schedule of financial assets by category | Mandatorily measured at fair Amortized cost value through profit or loss Financial asset 09/30/2023 06/30/2023 09/30/2023 06/30/2023 Cash and cash equivalents 25,954,730 48,129,194 2,419,194 — Other financial assets 502,910 657,612 14,628,202 11,922,317 Trade receivables 186,276,319 158,006,474 — — Other receivables (*) 11,753,573 12,124,724 — — Total 224,487,532 218,918,004 17,047,396 11,922,317 (*) Advances expenses and tax balances are not included. |
Schedule financial liabilities by category | Mandatorily measured at fair Amortized cost value through profit or loss Financial liability 09/30/2023 06/30/2023 09/30/2023 06/30/2023 Trade and other payables 152,753,083 142,582,166 6,372,275 8,225,508 Borrowings 149,510,477 168,310,605 — — Secured notes 76,911,874 75,213,146 — — Lease liability 13,552,751 13,889,223 — — Consideration for acquisition of assets 6,742,570 4,993,256 — — Total 399,470,755 404,988,396 6,372,275 8,225,508 |
Schedule of fair value by hierarchy | Measurement at fair value at 09/30/2023 Level 1 Level 2 Level 3 Financial assets at fair value US Treasury bills 9,719,486 — — Mutual funds 3,236,702 — — Other investments 1,672,014 — — Financial liability at fair value Trade and other payables — 6,372,275 — Measurement at fair value at 06/30/2023 Level 1 Level 2 Level 3 Financial assets at fair value US Treasury bills 9,163,298 — — Mutual funds 1,596,539 — — Other investments 1,162,480 — — Financial liability at fair value Trade and other payables — 8,225,508 — |
Schedule of net exposure | Net foreign currency position 09/30/2023 Amount expressed in US$ (5,353,860) |
LEASES (Tables)
LEASES (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
LEASES | |
Schedule of right of use leased assets and lease liability from beginning of year to end of year | Right-of-use leased asset 09/30/2023 06/30/2023 Book value at the beginning of the period/year 21,163,192 15,828,032 Additions of the period/year 1,072,418 3,154,950 Additions from business combination — 3,005,000 Disposals (461,631) (1,839,921) Exchange differences (513,269) 1,015,131 Book value at the end of the period/year 21,260,710 21,163,192 Depreciation 09/30/2023 06/30/2023 Book value at the beginning of the period/year 7,226,617 3,684,006 Depreciation of the period/year 837,199 3,565,894 Disposals (274,431) (171,870) Exchange differences (47,874) 148,587 Accumulated depreciation at the end of the period/year 7,741,511 7,226,617 Total 13,519,199 13,936,575 Lease liability 09/30/2023 06/30/2023 Book value at the beginning of the period/year 13,889,223 11,751,284 Additions of the period/year 1,072,418 3,154,950 Additions from business combination — 3,245,000 Interest expenses, exchange differences and inflation effects (238,851) (406,494) Payments of the period/year (1,170,039) (3,855,517) Total 13,552,751 13,889,223 Lease Liabilities 09/30/2023 06/30/2023 Non-current 9,225,862 10,030,524 Current 4,326,889 3,858,699 Total 13,552,751 13,889,223 |
Schedule of right-of-use leased assets | 09/30/2023 06/30/2023 Machinery and equipment 3,655,741 3,655,741 Vehicles 1,433,616 1,475,581 Equipment and computer software 1,011,490 903,306 Land and buildings 15,159,863 15,128,564 21,260,710 21,163,192 |
SHAREHOLDERS AND OTHER RELATE_2
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | |
Schedule of transactions between the group and related parties, and the related balances owed | Value of transactions for the period ended Party Transaction type 09/30/2023 09/30/2022 Joint ventures and associates Sales and services 6,801,117 17,083,027 Joint ventures and associates Purchases of goods and services (20,691,171) (25,314,814) Key management personnel Salaries, social security benefits and other benefits (6,702,803) (648,494) Shareholders and other related parties Sales of goods and services 1,590,568 261,418 Shareholders and other related parties Purchases of goods and services (196,051) (239,772) Shareholders and other related parties In-kind contributions — 550,183 Shareholders and other related parties Net loans granted/(cancelled) — (1,609) Shareholders and other related parties Interest expenses (23,000) — Parent company and related parties to Parent (Note 6.6) Interest expenses (97,063) (149,734) Total (19,318,403) (8,459,795) Amounts receivable from related parties Party Transaction type 09/30/2023 06/30/2023 Shareholders and other related parties Other receivables 1,368,373 — Shareholders and other related parties Other receivables 2,919,431 3,792,429 Joint ventures and associates Trade debtors 781,451 865,627 Joint ventures and associates Other receivables 6,699,863 6,334,219 Total 11,769,118 10,992,275 Amounts payable to related parties Party Transaction type 09/30/2023 06/30/2022 Parent company and related parties to Parent Trade creditors (270,645) (644,191) Parent company and related parties to Parent Net loans payables (3,565,754) (3,491,691) Key management personnel Salaries, social security benefits and other benefits (333,616) (218,068) Shareholders and other related parties Trade and other payables (27,708) (35,292) Joint ventures and associates Trade creditors (47,282,380) (41,402,594) Total (51,480,103) (45,791,836) |
KEY MANAGEMENT PERSONNEL COMP_2
KEY MANAGEMENT PERSONNEL COMPENSATION (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
KEY MANAGEMENT PERSONNEL COMPENSATION | |
Schedule of compensation of directors and other members of key management personnel | 09/30/2023 09/30/2022 Salaries, social security and other benefits 509,135 421,143 Share-based incentives 6,193,668 227,351 Total 6,702,803 648,494 |
GENERAL INFORMATION - (Details)
GENERAL INFORMATION - (Details) | Sep. 30, 2023 country |
Business information | |
Number of countries where Group's agricultural inputs are marketed | 40 |
SEASONALITY (Details)
SEASONALITY (Details) | Sep. 30, 2023 item |
SEASONALITY | |
Some customers and distributers order per year, minimum | 1 |
Some customers and distributers order per year, maximum | 2 |
INFORMATION ABOUT COMPONENTS _5
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Cash and cash equivalents (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION | ||
Cash at bank and on hand | $ 25,954,730 | $ 48,129,194 |
Mutual funds | 2,419,194 | |
Cash and cash equivalents | $ 28,373,924 | $ 48,129,194 |
INFORMATION ABOUT COMPONENTS _6
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Other financial assets (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
Current | ||
Restricted short-term deposit | $ 212,703 | |
US Treasury bills | $ 9,719,486 | 9,163,298 |
Mutual funds | 3,236,702 | 1,596,539 |
Other investments | 1,672,014 | 1,162,480 |
Other financial assets | 14,628,202 | 12,135,020 |
Non-current | ||
Shares of Bioceres S.A. | 444,575 | 444,635 |
Other investments | 58,335 | 274 |
Other financial assets | $ 502,910 | $ 444,909 |
INFORMATION ABOUT COMPONENTS _7
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Trade receivables (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
Components of Consolidated Statement of Financial Position | ||
Trade debtors | $ 189,222,562 | $ 160,269,233 |
Allowance for impairment of trade debtors | (7,615,433) | (7,425,604) |
Allowance for credit notes to be issued | (2,610,596) | (3,694,019) |
Deferred checks | 5,129,962 | 7,991,237 |
Trade receivables | 186,276,319 | 158,006,474 |
Shareholders and other related parties | ||
Components of Consolidated Statement of Financial Position | ||
Shareholders and other related parties | 1,368,373 | |
Joint ventures and associates | ||
Components of Consolidated Statement of Financial Position | ||
Trade debtors | $ 781,451 | $ 865,627 |
INFORMATION ABOUT COMPONENTS _8
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Other receivables (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
Current | ||
Taxes | $ 6,009,626 | $ 6,113,764 |
Prepayments to suppliers | 5,010,022 | 10,956,831 |
Reimbursements over exports | 10,558 | 10,558 |
Prepaid expenses and other receivables | 3,657,633 | 1,302,221 |
Miscellaneous | 735,655 | 388,553 |
Other receivables | 24,902,503 | 28,824,998 |
Non-current | ||
Taxes | 865,588 | 873,699 |
Reimbursements over exports | 1,268,928 | 1,290,227 |
Loan receivables | 230,000 | 230,000 |
Miscellaneous | 29,423 | 152,315 |
Other receivables | 2,393,939 | 2,546,241 |
Receivables for PP&E sales | ||
Current | ||
Other receivables | 89,715 | 156,423 |
Shareholders and other related parties | ||
Current | ||
Other receivables | 2,919,431 | 3,792,429 |
Joint ventures and associates | ||
Current | ||
Other receivables | $ 6,469,863 | $ 6,104,219 |
INFORMATION ABOUT COMPONENTS _9
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Inventories (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
Inventory | ||
Goods in transit | $ 2,298,136 | $ 3,620,606 |
Supplies | 18,709,303 | 24,893,187 |
Agricultural products | 19,111,345 | 28,436,830 |
Inventories | 138,076,822 | 140,426,975 |
Net of agricultural products | 118,965,477 | 111,990,145 |
Seeds | ||
Inventory | ||
Inventories | 9,293,210 | 1,542,159 |
Resale products | ||
Inventory | ||
Inventories | 71,973,203 | 58,544,931 |
Manufactured products | ||
Inventory | ||
Inventories | 19,604,930 | 25,881,761 |
Allowance for obsolescence | ||
Inventory | ||
Inventories | $ (2,913,305) | $ (2,492,499) |
INFORMATION ABOUT COMPONENTS_10
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Biological assets (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Biological assets | ||
Beginning of the period | $ 146,842 | $ 57,313 |
Initial recognition and changes in the fair value of biological assets at the point of harvest | 410,913 | 490,006 |
Cost incurred during the period | 583,358 | 501,468 |
Exchange differences | (22,043) | |
End of period | 1,141,113 | 1,026,744 |
Soybean | ||
Biological assets | ||
Beginning of the period | 0 | |
Cost incurred during the period | 374,456 | |
End of period | 374,456 | |
Corn | ||
Biological assets | ||
Beginning of the period | 0 | |
Cost incurred during the period | 177,601 | |
End of period | 177,601 | |
Wheat | ||
Biological assets | ||
Beginning of the period | 87,785 | 44,413 |
Initial recognition and changes in the fair value of biological assets at the point of harvest | 276,511 | 365,833 |
Cost incurred during the period | 378,631 | |
Exchange differences | (16,699) | |
End of period | 364,296 | 772,178 |
Sunflower | ||
Biological assets | ||
Beginning of the period | 0 | |
Cost incurred during the period | 31,301 | |
End of period | 31,301 | |
Barley | ||
Biological assets | ||
Beginning of the period | 59,057 | 12,900 |
Initial recognition and changes in the fair value of biological assets at the point of harvest | 134,402 | 124,173 |
Cost incurred during the period | 122,837 | |
Exchange differences | (5,344) | |
End of period | $ 193,459 | $ 254,566 |
INFORMATION ABOUT COMPONENTS_11
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Property, plant and equipment (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 | Sep. 30, 2022 | Jun. 30, 2022 |
Property, plant and equipment | ||||
Property, plant and equipment | $ 69,930,709 | $ 67,853,835 | ||
Gross carrying amount | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 96,833,359 | 93,634,779 | $ 85,587,833 | $ 71,521,454 |
Accumulated depreciation | ||||
Property, plant and equipment | ||||
Property, plant and equipment | $ (26,902,650) | $ (25,780,944) | $ (22,710,109) | $ (21,613,129) |
INFORMATION ABOUT COMPONENTS_12
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Property, plant and equipment - net carrying amount (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
Property, plant and equipment | ||
Property, plant and equipment | $ 69,930,709 | $ 67,853,835 |
Office equipment | ||
Property, plant and equipment | ||
Property, plant and equipment | 280,905 | 263,892 |
Vehicles | ||
Property, plant and equipment | ||
Property, plant and equipment | 1,862,542 | 2,032,853 |
Equipment and computer software | ||
Property, plant and equipment | ||
Property, plant and equipment | 167,741 | 174,399 |
Fixture and fittings | ||
Property, plant and equipment | ||
Property, plant and equipment | 2,676,861 | 2,862,949 |
Machinery and equipment | ||
Property, plant and equipment | ||
Property, plant and equipment | 13,970,593 | 14,463,756 |
Land and buildings | ||
Property, plant and equipment | ||
Property, plant and equipment | 35,640,076 | 36,144,792 |
Buildings in progress | ||
Property, plant and equipment | ||
Property, plant and equipment | $ 15,331,991 | $ 11,911,194 |
INFORMATION ABOUT COMPONENTS_13
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Property, plant and equipment - gross carrying amounts (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Property, plant and equipment | ||
As of the beginning of period | $ 67,853,835 | |
Additions from business combination | $ 13,100,572 | |
As of the end of period | 69,930,709 | |
Office equipment | ||
Property, plant and equipment | ||
As of the beginning of period | 263,892 | |
As of the end of period | 280,905 | |
Vehicles | ||
Property, plant and equipment | ||
As of the beginning of period | 2,032,853 | |
As of the end of period | 1,862,542 | |
Equipment and computer software | ||
Property, plant and equipment | ||
As of the beginning of period | 174,399 | |
Additions from business combination | 12,469 | |
As of the end of period | 167,741 | |
Fixture and fittings | ||
Property, plant and equipment | ||
As of the beginning of period | 2,862,949 | |
Additions from business combination | 5,379 | |
As of the end of period | 2,676,861 | |
Machinery and equipment | ||
Property, plant and equipment | ||
As of the beginning of period | 14,463,756 | |
Additions from business combination | 7,047,496 | |
As of the end of period | 13,970,593 | |
Land and buildings | ||
Property, plant and equipment | ||
As of the beginning of period | 36,144,792 | |
Additions from business combination | 4,750,136 | |
As of the end of period | 35,640,076 | |
Buildings in progress | ||
Property, plant and equipment | ||
As of the beginning of period | 11,911,194 | |
Additions from business combination | 1,285,092 | |
As of the end of period | 15,331,991 | |
Gross carrying amount | ||
Property, plant and equipment | ||
As of the beginning of period | 93,634,779 | 71,521,454 |
Additions | 3,948,660 | 1,414,730 |
Disposals | (45,062) | (59,744) |
Foreign currency translation | (705,018) | (389,179) |
As of the end of period | 96,833,359 | 85,587,833 |
Gross carrying amount | Office equipment | ||
Property, plant and equipment | ||
As of the beginning of period | 968,088 | 908,004 |
Additions | 34,918 | |
Foreign currency translation | (2,764) | (15,172) |
As of the end of period | 1,000,242 | 892,832 |
Gross carrying amount | Vehicles | ||
Property, plant and equipment | ||
As of the beginning of period | 5,492,319 | 5,261,979 |
Additions | 28,680 | 226,051 |
Disposals | (45,062) | (59,744) |
Foreign currency translation | (1,498) | (6,243) |
As of the end of period | 5,474,439 | 5,422,043 |
Gross carrying amount | Equipment and computer software | ||
Property, plant and equipment | ||
As of the beginning of period | 974,509 | 925,349 |
Additions | 30,188 | 41,658 |
Foreign currency translation | (5,857) | (6,667) |
As of the end of period | 998,840 | 972,809 |
Gross carrying amount | Fixture and fittings | ||
Property, plant and equipment | ||
As of the beginning of period | 7,663,899 | 7,606,389 |
Additions | 33,869 | |
Foreign currency translation | (2,126) | (5,539) |
As of the end of period | 7,661,773 | 7,640,098 |
Gross carrying amount | Machinery and equipment | ||
Property, plant and equipment | ||
As of the beginning of period | 23,513,047 | 13,017,830 |
Additions | 176,837 | 107,717 |
Foreign currency translation | (91,465) | (24,469) |
As of the end of period | 23,598,419 | 20,148,574 |
Gross carrying amount | Land and buildings | ||
Property, plant and equipment | ||
As of the beginning of period | 43,111,723 | 40,659,129 |
Foreign currency translation | (344,068) | (313,148) |
As of the end of period | 42,767,655 | 45,096,117 |
Gross carrying amount | Buildings in progress | ||
Property, plant and equipment | ||
As of the beginning of period | 11,911,194 | 3,142,774 |
Additions | 3,678,037 | 1,005,435 |
Foreign currency translation | (257,240) | (17,941) |
As of the end of period | 15,331,991 | 5,415,360 |
Accumulated depreciation | ||
Property, plant and equipment | ||
As of the beginning of period | (25,780,944) | (21,613,129) |
Of the period | (1,243,403) | (1,382,093) |
Disposals | 36,049 | 59,744 |
Foreign currency translation | 85,648 | 225,369 |
As of the end of period | (26,902,650) | (22,710,109) |
Accumulated depreciation | Office equipment | ||
Property, plant and equipment | ||
As of the beginning of period | (704,196) | (638,466) |
Of the period | (17,004) | (17,053) |
Foreign currency translation | 1,863 | 16,931 |
As of the end of period | (719,337) | (638,588) |
Accumulated depreciation | Vehicles | ||
Property, plant and equipment | ||
As of the beginning of period | (3,459,466) | (2,596,905) |
Of the period | (188,532) | (226,899) |
Disposals | 36,049 | 59,744 |
Foreign currency translation | 52 | 3,364 |
As of the end of period | (3,611,897) | (2,760,696) |
Accumulated depreciation | Equipment and computer software | ||
Property, plant and equipment | ||
As of the beginning of period | (800,110) | (693,673) |
Of the period | (35,963) | (28,914) |
Foreign currency translation | 4,974 | 476 |
As of the end of period | (831,099) | (722,111) |
Accumulated depreciation | Fixture and fittings | ||
Property, plant and equipment | ||
As of the beginning of period | (4,800,950) | (4,059,470) |
Of the period | (184,877) | (206,830) |
Foreign currency translation | 915 | 23,814 |
As of the end of period | (4,984,912) | (4,242,486) |
Accumulated depreciation | Machinery and equipment | ||
Property, plant and equipment | ||
As of the beginning of period | (9,049,291) | (7,205,870) |
Of the period | (595,729) | (679,201) |
Foreign currency translation | 17,194 | 180,089 |
As of the end of period | (9,627,826) | (7,704,982) |
Accumulated depreciation | Land and buildings | ||
Property, plant and equipment | ||
As of the beginning of period | (6,966,931) | (6,418,745) |
Of the period | (221,298) | (223,196) |
Foreign currency translation | 60,650 | 695 |
As of the end of period | $ (7,127,579) | $ (6,641,246) |
INFORMATION ABOUT COMPONENTS_14
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Property, plant and equipment - accumulated depreciation (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Property, plant and equipment | ||
As of the beginning of period | $ 67,853,835 | |
As of the end of period | 69,930,709 | |
Office equipment | ||
Property, plant and equipment | ||
As of the beginning of period | 263,892 | |
As of the end of period | 280,905 | |
Vehicles | ||
Property, plant and equipment | ||
As of the beginning of period | 2,032,853 | |
As of the end of period | 1,862,542 | |
Equipment and computer software | ||
Property, plant and equipment | ||
As of the beginning of period | 174,399 | |
As of the end of period | 167,741 | |
Fixture and fittings | ||
Property, plant and equipment | ||
As of the beginning of period | 2,862,949 | |
As of the end of period | 2,676,861 | |
Machinery and equipment | ||
Property, plant and equipment | ||
As of the beginning of period | 14,463,756 | |
As of the end of period | 13,970,593 | |
Land and buildings | ||
Property, plant and equipment | ||
As of the beginning of period | 36,144,792 | |
As of the end of period | 35,640,076 | |
Accumulated depreciation | ||
Property, plant and equipment | ||
As of the beginning of period | (25,780,944) | $ (21,613,129) |
Disposals | 36,049 | 59,744 |
Foreign currency translation | 85,648 | 225,369 |
As of the end of period | (26,902,650) | (22,710,109) |
Accumulated depreciation | Office equipment | ||
Property, plant and equipment | ||
As of the beginning of period | (704,196) | (638,466) |
Foreign currency translation | 1,863 | 16,931 |
As of the end of period | (719,337) | (638,588) |
Accumulated depreciation | Vehicles | ||
Property, plant and equipment | ||
As of the beginning of period | (3,459,466) | (2,596,905) |
Disposals | 36,049 | 59,744 |
Foreign currency translation | 52 | 3,364 |
As of the end of period | (3,611,897) | (2,760,696) |
Accumulated depreciation | Equipment and computer software | ||
Property, plant and equipment | ||
As of the beginning of period | (800,110) | (693,673) |
Foreign currency translation | 4,974 | 476 |
As of the end of period | (831,099) | (722,111) |
Accumulated depreciation | Fixture and fittings | ||
Property, plant and equipment | ||
As of the beginning of period | (4,800,950) | (4,059,470) |
Foreign currency translation | 915 | 23,814 |
As of the end of period | (4,984,912) | (4,242,486) |
Accumulated depreciation | Machinery and equipment | ||
Property, plant and equipment | ||
As of the beginning of period | (9,049,291) | (7,205,870) |
Foreign currency translation | 17,194 | 180,089 |
As of the end of period | (9,627,826) | (7,704,982) |
Accumulated depreciation | Land and buildings | ||
Property, plant and equipment | ||
As of the beginning of period | (6,966,931) | (6,418,745) |
Foreign currency translation | 60,650 | 695 |
As of the end of period | $ (7,127,579) | $ (6,641,246) |
INFORMATION ABOUT COMPONENTS_15
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Intangible assets (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 | Sep. 30, 2022 | Jun. 30, 2022 |
Intangible assets | ||||
Intangible assets | $ 173,034,536 | $ 173,783,956 | ||
Gross carrying amount | ||||
Intangible assets | ||||
Intangible assets | 204,300,750 | 202,306,618 | $ 194,493,789 | $ 94,229,557 |
Accumulated depreciation | ||||
Intangible assets | ||||
Intangible assets | $ (31,266,214) | $ (28,522,662) | $ (20,000,299) | $ (17,524,688) |
INFORMATION ABOUT COMPONENTS_16
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Intangible assets, net carrying amount (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
Intangible assets | ||
Intangible assets | $ 173,034,536 | $ 173,783,956 |
HB4 and breeding program | ||
Intangible assets | ||
Intangible assets | 31,476,363 | 31,679,681 |
Integrated products | ||
Intangible assets | ||
Intangible assets | 2,786,562 | 2,841,008 |
Microbiology product | ||
Intangible assets | ||
Intangible assets | 50,506,239 | 49,508,801 |
Trademarks and patents | ||
Intangible assets | ||
Intangible assets | 58,730,415 | 59,760,753 |
Software | ||
Intangible assets | ||
Intangible assets | 1,609,367 | 1,987,690 |
Customer loyalty | ||
Intangible assets | ||
Intangible assets | 22,925,590 | 23,006,023 |
RG/RS/OX Wheat | ||
Intangible assets | ||
Intangible assets | $ 5,000,000 | $ 5,000,000 |
INFORMATION ABOUT COMPONENTS_17
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Intangible assets, gross carrying amount (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Intangible assets | ||
Balance at beginning of the period | $ 173,783,956 | |
Balance at end of the period | 173,034,536 | |
Gross carrying amount | ||
Intangible assets | ||
Balance at beginning of the period | 202,306,618 | $ 94,229,557 |
Additions | 2,011,990 | 3,450,871 |
Additions from business combination | 96,818,958 | |
Foreign currency translation | (17,858) | (5,597) |
Balance at end of the period | 204,300,750 | 194,493,789 |
HB4 and breeding program | ||
Intangible assets | ||
Balance at beginning of the period | 31,679,681 | |
Balance at end of the period | 31,476,363 | |
HB4 and breeding program | Gross carrying amount | ||
Intangible assets | ||
Balance at beginning of the period | 34,958,425 | 31,371,088 |
Additions | 224,230 | 361,006 |
Balance at end of the period | 35,182,655 | 31,732,094 |
Integrated products | ||
Intangible assets | ||
Balance at beginning of the period | 2,841,008 | |
Balance at end of the period | 2,786,562 | |
Integrated products | Gross carrying amount | ||
Intangible assets | ||
Balance at beginning of the period | 3,219,808 | 3,181,155 |
Foreign currency translation | (8,178) | |
Balance at end of the period | 3,211,630 | 3,181,155 |
Microbiology product | ||
Intangible assets | ||
Balance at beginning of the period | 49,508,801 | |
Balance at end of the period | 50,506,239 | |
Microbiology product | Gross carrying amount | ||
Intangible assets | ||
Balance at beginning of the period | 55,645,028 | 8,855,421 |
Additions | 1,723,274 | 2,880,002 |
Additions from business combination | 39,613,280 | |
Foreign currency translation | (6,119) | (3,945) |
Balance at end of the period | 57,362,183 | 51,344,758 |
Trademarks and patents | ||
Intangible assets | ||
Balance at beginning of the period | 59,760,753 | |
Balance at end of the period | 58,730,415 | |
Trademarks and patents | Gross carrying amount | ||
Intangible assets | ||
Balance at beginning of the period | 67,653,234 | 12,183,045 |
Additions | 62,543 | 3,679 |
Additions from business combination | 55,420,441 | |
Balance at end of the period | 67,715,777 | 67,607,165 |
Software | ||
Intangible assets | ||
Balance at beginning of the period | 1,987,690 | |
Balance at end of the period | 1,609,367 | |
Software | Gross carrying amount | ||
Intangible assets | ||
Balance at beginning of the period | 5,582,411 | 5,176,373 |
Additions | 1,943 | 206,184 |
Foreign currency translation | (3,561) | (1,652) |
Balance at end of the period | 5,580,793 | 5,380,905 |
Customer loyalty | ||
Intangible assets | ||
Balance at beginning of the period | 23,006,023 | |
Balance at end of the period | 22,925,590 | |
Customer loyalty | Gross carrying amount | ||
Intangible assets | ||
Balance at beginning of the period | 30,247,712 | 28,462,475 |
Additions from business combination | 1,785,237 | |
Balance at end of the period | 30,247,712 | 30,247,712 |
RG/RS/OX Wheat | ||
Intangible assets | ||
Balance at beginning of the period | 5,000,000 | |
Balance at end of the period | 5,000,000 | |
RG/RS/OX Wheat | Gross carrying amount | ||
Intangible assets | ||
Balance at beginning of the period | 5,000,000 | 5,000,000 |
Balance at end of the period | $ 5,000,000 | $ 5,000,000 |
INFORMATION ABOUT COMPONENTS_18
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Intangible assets, accumulated amortization (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Intangible assets | ||
Balance at beginning of the period | $ 173,783,956 | |
Balance at end of the period | 173,034,536 | |
Accumulated depreciation | ||
Intangible assets | ||
Balance at beginning of the period | (28,522,662) | $ (17,524,688) |
Amortization of the period | (2,747,206) | (2,476,832) |
Foreign currency translation | 3,654 | 1,221 |
Balance at end of the period | (31,266,214) | (20,000,299) |
HB4 and breeding program | ||
Intangible assets | ||
Balance at beginning of the period | 31,679,681 | |
Balance at end of the period | 31,476,363 | |
HB4 and breeding program | Accumulated depreciation | ||
Intangible assets | ||
Balance at beginning of the period | (3,278,744) | (1,568,554) |
Amortization of the period | (427,548) | (396,701) |
Balance at end of the period | (3,706,292) | (1,965,255) |
Integrated products | ||
Intangible assets | ||
Balance at beginning of the period | 2,841,008 | |
Balance at end of the period | 2,786,562 | |
Integrated products | Accumulated depreciation | ||
Intangible assets | ||
Balance at beginning of the period | (378,800) | (43,997) |
Amortization of the period | (47,229) | (13,019) |
Foreign currency translation | 961 | |
Balance at end of the period | (425,068) | (57,016) |
Microbiology product | ||
Intangible assets | ||
Balance at beginning of the period | 49,508,801 | |
Balance at end of the period | 50,506,239 | |
Microbiology product | Accumulated depreciation | ||
Intangible assets | ||
Balance at beginning of the period | (6,136,227) | (3,063,073) |
Amortization of the period | (719,717) | (1,057,149) |
Balance at end of the period | (6,855,944) | (4,120,222) |
Trademarks and patents | ||
Intangible assets | ||
Balance at beginning of the period | 59,760,753 | |
Balance at end of the period | 58,730,415 | |
Trademarks and patents | Accumulated depreciation | ||
Intangible assets | ||
Balance at beginning of the period | (7,892,481) | (3,916,004) |
Amortization of the period | (1,092,881) | (542,868) |
Balance at end of the period | (8,985,362) | (4,458,872) |
Software | ||
Intangible assets | ||
Balance at beginning of the period | 1,987,690 | |
Balance at end of the period | 1,609,367 | |
Software | Accumulated depreciation | ||
Intangible assets | ||
Balance at beginning of the period | (3,594,721) | (3,008,388) |
Amortization of the period | (379,398) | (141,044) |
Foreign currency translation | 2,693 | 1,221 |
Balance at end of the period | (3,971,426) | (3,148,211) |
Customer loyalty | ||
Intangible assets | ||
Balance at beginning of the period | 23,006,023 | |
Balance at end of the period | 22,925,590 | |
Customer loyalty | Accumulated depreciation | ||
Intangible assets | ||
Balance at beginning of the period | (7,241,689) | (5,924,672) |
Amortization of the period | (80,433) | (326,051) |
Balance at end of the period | $ (7,322,122) | $ (6,250,723) |
INFORMATION ABOUT COMPONENTS_19
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Goodwill (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
Goodwill | ||
Goodwill | $ 112,163,432 | $ 112,163,432 |
Rizobacter Argentina S.A. | ||
Goodwill | ||
Goodwill | 28,080,271 | 28,080,271 |
Bioceres Crops S.A. | ||
Goodwill | ||
Goodwill | 7,523,322 | 7,523,322 |
Pro farm Group, Inc. | ||
Goodwill | ||
Goodwill | 76,089,749 | 76,089,749 |
Insumos Agroqumicos S.A. | ||
Goodwill | ||
Goodwill | $ 470,090 | $ 470,090 |
INFORMATION ABOUT COMPONENTS_20
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Investment properties (Details) - USD ($) | Sep. 30, 2033 | Jun. 30, 2033 | Sep. 30, 2023 | Jun. 30, 2023 |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION | ||||
Investment properties | $ 3,675,493 | $ 3,589,749 | $ 3,675,493 | $ 3,589,749 |
INFORMATION ABOUT COMPONENTS_21
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Trade and other payable (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
Current | ||
Trade creditors | $ 106,222,415 | $ 104,211,238 |
Taxes | 5,138,674 | 3,561,058 |
Miscellaneous | 183,536 | 953,301 |
Trade and other payable | 159,125,358 | 150,807,674 |
Shareholders and other related parties | ||
Current | ||
Trade payable, related party | 27,708 | 35,292 |
Parent company | ||
Current | ||
Trade payable, related party | 270,645 | 644,191 |
Joint ventures and associates | ||
Current | ||
Trade payable, related party | $ 47,282,380 | $ 41,402,594 |
INFORMATION ABOUT COMPONENTS_22
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Borrowings (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
Current | ||
Corporate bonds | $ 29,745,450 | $ 35,547,510 |
Borrowings | 100,720,985 | 107,639,659 |
Non-current | ||
Corporate bonds | 41,202,548 | 50,007,680 |
Borrowings | 48,789,492 | 60,670,946 |
Bank borrowings | ||
Current | ||
Borrowings | 60,473,023 | 61,303,952 |
Non-current | ||
Borrowings | 7,586,944 | 10,663,266 |
Trust debt securities | ||
Current | ||
Borrowings | 6,936,758 | 7,296,506 |
Net loans payables - Parents companies and related parties | ||
Current | ||
Borrowings | $ 3,565,754 | $ 3,491,691 |
INFORMATION ABOUT COMPONENTS_23
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Borrowings, carrying amount (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
Current | ||
Borrowings | $ 100,720,985 | $ 107,639,659 |
Corporate bonds | 29,745,450 | 35,547,510 |
Non-current | ||
Borrowings | 48,789,492 | 60,670,946 |
Corporate bonds | 41,202,548 | 50,007,680 |
Amortized cost | ||
Current | ||
Corporate bonds | 29,745,450 | 35,547,510 |
Non-current | ||
Corporate bonds | 41,202,548 | 50,007,680 |
Fair value | ||
Current | ||
Corporate bonds | 29,389,136 | 34,725,828 |
Non-current | ||
Corporate bonds | 39,984,876 | 47,014,542 |
Bank borrowings | ||
Current | ||
Borrowings | 60,473,023 | 61,303,952 |
Non-current | ||
Borrowings | 7,586,944 | 10,663,266 |
Bank borrowings | Amortized cost | ||
Current | ||
Borrowings | 60,473,023 | 61,303,952 |
Non-current | ||
Borrowings | 7,586,944 | 10,663,266 |
Bank borrowings | Fair value | ||
Current | ||
Borrowings | 57,553,255 | 57,209,155 |
Non-current | ||
Borrowings | $ 5,620,759 | $ 10,374,646 |
INFORMATION ABOUT COMPONENTS_24
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Secured Notes (Details) - USD ($) | Sep. 30, 2033 | Sep. 30, 2023 | Jun. 30, 2023 |
Borrowings: | |||
Secured notes | $ 76,911,874 | $ 75,213,146 | |
Secured Guaranteed Notes | At cost | |||
Borrowings: | |||
Borrowings | $ 25,900,000 | ||
Secured Guaranteed Notes | Fair value | |||
Borrowings: | |||
Borrowings | 26,100,000 | ||
Secured Convertible Guaranteed Notes | At cost | |||
Borrowings: | |||
Borrowings | 51,000,000 | ||
Secured Convertible Guaranteed Notes | Fair value | |||
Borrowings: | |||
Borrowings | $ 53,300,000 |
INFORMATION ABOUT COMPONENTS_25
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Employee benefits and social security (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION | ||
Salaries, accrued incentives, vacations and social security | $ 9,685,549 | $ 9,388,639 |
Key management personnel | 333,616 | 218,068 |
Employee benefits and social security | $ 10,019,165 | $ 9,606,707 |
INFORMATION ABOUT COMPONENTS_26
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Deferred revenue and advances from customers (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
Current | ||
Advances from customers | $ 17,019,407 | $ 9,216,032 |
Deferred Revenue | 15,752,495 | 15,659,630 |
Deferred revenue and advances from customers | 32,771,902 | 24,875,662 |
Non-current | ||
Advances from customers | 272,334 | 620,893 |
Deferred Revenue | 1,930,040 | 1,436,912 |
Deferred revenue and advances from customers | $ 2,202,374 | $ 2,057,805 |
INFORMATION ABOUT COMPONENTS_27
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - Revenue (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Revenue | ||
Revenues from contracts with customers | $ 116,182,805 | $ 126,843,248 |
Royalties | 554,013 | 729,612 |
Sale of goods and services | ||
Revenue | ||
Revenues from contracts with customers | $ 115,628,792 | $ 126,113,636 |
INFORMATION ABOUT COMPONENTS_28
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - Cost of Sales (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | ||
Inventories as of the beginning of the period | $ 111,990,145 | $ 78,759,610 |
Business combination | 11,064,908 | |
Purchases of the period | 71,694,655 | 79,325,509 |
Production costs | 7,123,255 | 8,440,830 |
Foreign currency translation | (226,797) | (236,263) |
Subtotal | 190,581,258 | 177,354,594 |
Inventories as of the end of the period | (118,965,477) | (101,678,716) |
Cost of sales | $ 71,615,781 | $ 75,675,878 |
INFORMATION ABOUT COMPONENTS_29
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - R&D classified by nature (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Costs and expenses | ||
Depreciation of leased assets | $ 837,199 | $ 676,427 |
Total | 4,581,241 | 3,852,014 |
R&D capitalized | 1,947,504 | 3,241,008 |
Total | 6,528,745 | 7,093,022 |
Research and development expenses | ||
Costs and expenses | ||
Amortization of intangible assets | 1,164,940 | 1,511,118 |
Analysis and storage | 11,568 | |
Import and export expenses | 850 | |
Depreciation of property, plant and equipment | 157,808 | 142,373 |
Freight and haulage | 3,917 | 5,300 |
Employee benefits and social securities | 1,307,126 | 861,312 |
Maintenance | 206,778 | 217,066 |
Energy and fuel | 3,628 | 79,121 |
Supplies and materials | 847,382 | 559,044 |
Mobility and travel | 13,771 | 108,694 |
Share-based incentives | 188,250 | 6,975 |
Professional fees and outsourced services | 491,787 | 293,776 |
Office supplies and registrations fees | 170,375 | 21,454 |
Information technology expenses | 4,375 | 11,996 |
Insurance | 21,049 | 10,537 |
Depreciation of leased assets | 10,650 | |
Miscellaneous | 55 | 180 |
Total | $ 4,581,241 | $ 3,852,014 |
INFORMATION ABOUT COMPONENTS_30
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - Expenses classified by nature and functions (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Expenses classified by nature and function | ||
Depreciation of leased assets | $ 837,199 | $ 676,427 |
Obsolescence | 505,285 | 618,489 |
Production costs | ||
Expenses classified by nature and function | ||
Amortization of intangible assets | 30,478 | 43,456 |
Analysis and storage | 570 | 5,425 |
Commissions and royalties | 134,592 | 118,960 |
Import and export expenses | 67,228 | 98,186 |
Depreciation of property, plant and equipment | 643,006 | 746,609 |
Depreciation of leased assets | 339,378 | 395,972 |
Freight and haulage | 643,877 | 241,533 |
Employee benefits and social securities | 2,806,939 | 3,994,761 |
Maintenance | 422,757 | 462,743 |
Energy and fuel | 163,122 | 500,359 |
Supplies and materials | 260,043 | 339,843 |
Mobility and travel | 33,407 | 20,940 |
Share-based incentives | 275,432 | 100,206 |
Professional fees and outsourced services | 509,450 | 674,014 |
Office supplies | 149,888 | 32,546 |
Insurance | 27,024 | 28,430 |
Information technology expenses | 18,361 | 13,243 |
Obsolescence | 505,285 | 539,382 |
Taxes | 70,819 | 45,049 |
Miscellaneous | 21,599 | 39,173 |
Total | 7,123,255 | 8,440,830 |
Selling, general and administrative expenses | ||
Expenses classified by nature and function | ||
Amortization of intangible assets | 1,551,788 | 922,258 |
Analysis and storage | 153,473 | 113,265 |
Commissions and royalties | 794,058 | 623,459 |
Import and export expenses | 120,345 | 256,070 |
Depreciation of property, plant and equipment | 442,589 | 493,111 |
Depreciation of leased assets | 497,821 | 269,805 |
Impairment of receivables | 352,920 | 156,053 |
Freight and haulage | 2,989,094 | 3,474,028 |
Employee benefits and social securities | 10,238,931 | 10,041,033 |
Maintenance | 568,155 | 980,742 |
Energy and fuel | 16,397 | 58,400 |
Supplies and materials | 831,454 | 491,811 |
Mobility and travel | 1,348,563 | 994,919 |
Publicity and advertising | 1,161,498 | 1,888,497 |
Contingencies | 27,109 | 2,448 |
Share-based incentives | 5,729,986 | 120,170 |
Professional fees and outsourced services | 1,575,982 | 4,610,610 |
Office supplies | 370,770 | 289,467 |
Insurance | 473,850 | 760,276 |
Information technology expenses | 743,163 | 993,378 |
Obsolescence | 79,107 | |
Taxes | 3,766,419 | 4,130,539 |
Miscellaneous | 178,483 | 155,465 |
Total | 33,932,848 | 31,904,911 |
Total | ||
Expenses classified by nature and function | ||
Amortization of intangible assets | 1,582,266 | 965,714 |
Analysis and storage | 154,043 | 118,690 |
Commissions and royalties | 928,650 | 742,419 |
Import and export expenses | 187,573 | 354,256 |
Depreciation of property, plant and equipment | 1,085,595 | 1,239,720 |
Depreciation of leased assets | 837,199 | 665,777 |
Impairment of receivables | 352,920 | 156,053 |
Freight and haulage | 3,632,971 | 3,715,561 |
Employee benefits and social securities | 13,045,870 | 14,035,794 |
Maintenance | 990,912 | 1,443,485 |
Energy and fuel | 179,519 | 558,759 |
Supplies and materials | 1,091,497 | 831,654 |
Mobility and travel | 1,381,970 | 1,015,859 |
Publicity and advertising | 1,161,498 | 1,888,497 |
Contingencies | 27,109 | 2,448 |
Share-based incentives | 6,005,418 | 220,376 |
Professional fees and outsourced services | 2,085,432 | 5,284,624 |
Office supplies | 520,658 | 322,013 |
Insurance | 500,874 | 788,706 |
Information technology expenses | 761,524 | 1,006,621 |
Obsolescence | 505,285 | 618,489 |
Taxes | 3,837,238 | 4,175,588 |
Miscellaneous | 200,082 | 194,638 |
Total | $ 41,056,103 | $ 40,345,741 |
INFORMATION ABOUT COMPONENTS_31
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - Other income or expenses, net (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | ||
Net result from commercialization of agricultural products | $ (1,316,393) | $ 6,327 |
Expenses recovery | 87,053 | 126,061 |
Other income or expenses, net | (2,295) | 345,653 |
Total | $ (1,231,635) | $ 478,041 |
INFORMATION ABOUT COMPONENTS_32
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - Finance results (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Financial costs | ||
Interest expenses with the Parents | $ (97,063) | $ (149,734) |
Interest expenses | (6,935,241) | (5,569,576) |
Financial commissions | (629,553) | (1,060,537) |
Financial Costs | (7,661,857) | (6,779,847) |
Other financial results | ||
Exchange differences generated by assets | (9,685,066) | (833,428) |
Exchange differences generated by liabilities | 10,335,537 | 6,322 |
Changes in fair value of financial assets or liabilities and other financial results | (151,646) | (569,032) |
Net gain of inflation effect on monetary items | (380,960) | 107,832 |
Other finance results | $ 117,865 | $ (1,288,306) |
TAXATION - Taxes on income (Det
TAXATION - Taxes on income (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
TAXATION | ||
Current tax expense | $ (6,457,134) | $ (6,020,201) |
Deferred tax | 6,028,094 | 1,007,558 |
Income tax expenses | $ (429,040) | $ (5,012,643) |
TAXATION - Movement on the defe
TAXATION - Movement on the deferred income tax (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
TAXATION | ||
Beginning of the period deferred tax | $ (28,472,383) | $ (24,994,569) |
Additions for business combination | (16,704,770) | |
Charge for the period | 6,028,094 | 1,007,558 |
Conversion difference | (3,718,889) | (261,014) |
Total net deferred tax | $ (26,163,178) | $ (40,952,795) |
TAXATION - Reconciliation of th
TAXATION - Reconciliation of the statutory tax rate (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
TAXATION | ||
Earnings before income tax-rate | $ (2,249,424) | $ 8,924,643 |
Income tax expense by applying tax rate in force in the respective countries | (1,721,853) | (5,739,069) |
Share of profit or loss of subsidiaries, joint ventures and associates | 530,177 | 313,280 |
Stock options charge | (1,226,796) | (57,818) |
Non-deductible expenses | (383,074) | (805,883) |
Unrecognized deferred tax | (895,896) | |
Tax inflation adjustment | 4,826,023 | 1,822,594 |
Result of inflation effect on monetary items and other finance results | (2,352,623) | 213,857 |
Others | (100,894) | 136,292 |
Income tax expenses | $ (429,040) | $ (5,012,643) |
EARNING PER SHARE (Details)
EARNING PER SHARE (Details) | 3 Months Ended | |
Sep. 30, 2023 USD ($) $ / shares shares | Sep. 30, 2022 USD ($) category $ / shares shares | |
Numerator | ||
(Loss) profit for the period (basic EPS) | $ | $ (4,591,634) | $ 498,297 |
(Loss) profit for the period (diluted EPS) | $ | $ (4,591,634) | $ 498,297 |
Denominator | ||
Weighted average number of shares (basic EPS) | shares | 62,846,690 | 60,537,110 |
Weighted average number of shares (diluted EPS) | shares | 62,846,690 | 61,736,679 |
Basic (loss) profit attributable to ordinary equity holders of the parent | $ / shares | $ (0.0731) | $ 0.0082 |
Diluted (loss) profit attributable to ordinary equity holders of the parent | $ / shares | $ (0.0731) | $ 0.0081 |
Number of categories of dilutive potential shares | category | 2 |
EQUITY INFORMATION (Details)
EQUITY INFORMATION (Details) | 3 Months Ended |
Sep. 30, 2023 shares Vote USD ($) $ / shares | |
Disclosure of classes of share capital [line items] | |
Number of own shares repurchased | $ | 2,231,761 |
Number of votes for each ordinary share | Vote | 1 |
Equity compensation plan | |
Disclosure of classes of share capital [line items] | |
Number of total converted options outstanding | 3,951,917 |
Ordinary shares | |
Disclosure of classes of share capital [line items] | |
Number of shares authorised | 100,000,000 |
Par value per share | $ / shares | $ 0.0001 |
Number of shares issued | 62,849,997 |
Number of shares outstanding | 62,849,997 |
Preference shares | |
Disclosure of classes of share capital [line items] | |
Number of shares authorised | 1,000,000 |
Par value per share | $ / shares | $ 0.0001 |
Number of shares issued | 0 |
Number of shares outstanding | 0 |
CASH FLOW INFORMATION (Details)
CASH FLOW INFORMATION (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Investment activities | ||
Net assets acquisition by business combination | $ 150,510,313 | |
Investment in-kind in other related parties | 550,183 | |
Capitalization of interest on buildings in progress | $ 36,589 | |
Investing activities | $ 36,589 | 151,060,496 |
Financing activities | ||
Capitalization of convertible notes | 12,211,638 | |
Purchase of own shares | (23,915,029) | |
Financing activities | $ (11,703,391) |
JOINT VENTURES AND ASSOCIATES_2
JOINT VENTURES AND ASSOCIATES (Details) - USD ($) | 3 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Jun. 30, 2023 | |
JOINT VENTURES | |||
Assets in joint ventures and associates | $ 40,820,784 | $ 39,296,810 | |
Liabilities in joint ventures and associates | 638,126 | 622,823 | |
Share of profit or loss of joint ventures and associates | 1,508,671 | $ 842,240 | |
Trigall Genetics S.A. | |||
JOINT VENTURES | |||
Liabilities in joint ventures and associates | 638,126 | 622,823 | |
Share of profit or loss of joint ventures and associates | (15,303) | (132,117) | |
Synertech Industrias S.A. | |||
JOINT VENTURES | |||
Assets in joint ventures and associates | 37,550,684 | 36,026,710 | |
Share of profit or loss of joint ventures and associates | 1,523,974 | $ 974,357 | |
Alfalfa Technologies S.R.L | |||
JOINT VENTURES | |||
Assets in joint ventures and associates | 36,502 | 36,502 | |
Moolec Science S.A. | |||
JOINT VENTURES | |||
Assets in joint ventures and associates | $ 3,233,598 | $ 3,233,598 |
JOINT VENTURES AND ASSOCIATES -
JOINT VENTURES AND ASSOCIATES - Changes in joint ventures investments (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
JOINT VENTURES AND ASSOCIATES | ||
As of the beginning of the period | $ 38,673,987 | $ 37,836,144 |
Foreign currency translation | 100,868 | |
Share of profit or loss | 1,508,671 | 842,240 |
As of the end of the period | $ 40,182,658 | $ 38,779,252 |
SEGMENT INFORMATION - Group's r
SEGMENT INFORMATION - Group's reporting segments (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Revenues from contracts with customers | ||
Sale of goods and services | $ 116,182,805 | $ 126,843,248 |
Royalties | 554,013 | 729,612 |
Initial recognition and changes in the fair value of biological assets at the point of harvest | 410,913 | 490,006 |
Total | 116,593,718 | 127,333,254 |
Cost of sales | (71,615,781) | (75,675,878) |
Gross profit per segment | $ 44,977,937 | $ 51,657,376 |
% Gross margin | 39% | 41% |
Seed and integrated products | ||
Revenues from contracts with customers | ||
Royalties | $ 554,013 | $ 729,612 |
Initial recognition and changes in the fair value of biological assets at the point of harvest | 87,844 | 51,451 |
Total | 22,318,910 | 13,854,703 |
Cost of sales | (14,110,381) | (5,539,489) |
Gross profit per segment | $ 8,208,529 | $ 8,315,214 |
% Gross margin | 37% | 60% |
Crop protection | ||
Revenues from contracts with customers | ||
Initial recognition and changes in the fair value of biological assets at the point of harvest | $ 172,118 | $ 89,573 |
Total | 55,926,478 | 63,075,746 |
Cost of sales | (36,183,792) | (45,035,250) |
Gross profit per segment | $ 19,742,686 | $ 18,040,496 |
% Gross margin | 35% | 29% |
Crop nutrition | ||
Revenues from contracts with customers | ||
Initial recognition and changes in the fair value of biological assets at the point of harvest | $ 150,951 | $ 348,982 |
Total | 38,348,330 | 50,402,805 |
Cost of sales | (21,321,608) | (25,101,139) |
Gross profit per segment | $ 17,026,722 | $ 25,301,666 |
% Gross margin | 44% | 50% |
Sale of goods and services | ||
Revenues from contracts with customers | ||
Sale of goods and services | $ 115,628,792 | $ 126,113,636 |
Sale of goods and services | Seed and integrated products | ||
Revenues from contracts with customers | ||
Sale of goods and services | 21,677,053 | 13,073,640 |
Sale of goods and services | Crop protection | ||
Revenues from contracts with customers | ||
Sale of goods and services | 55,754,360 | 62,986,173 |
Sale of goods and services | Crop nutrition | ||
Revenues from contracts with customers | ||
Sale of goods and services | $ 38,197,379 | $ 50,053,823 |
FINANCIAL INSTRUMENTS - RISK _3
FINANCIAL INSTRUMENTS - RISK MANAGEMENT - Financial assets by category (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
Amortized cost | ||
Financial assets by category | ||
Financial assets. | $ 224,487,532 | $ 218,918,004 |
Fair value | ||
Financial assets by category | ||
Financial assets. | 17,047,396 | 11,922,317 |
Cash and cash equivalents | Amortized cost | ||
Financial assets by category | ||
Financial assets. | 25,954,730 | 48,129,194 |
Cash and cash equivalents | Fair value | ||
Financial assets by category | ||
Financial assets. | 2,419,194 | |
Other financial assets | Amortized cost | ||
Financial assets by category | ||
Financial assets. | 502,910 | 657,612 |
Other financial assets | Fair value | ||
Financial assets by category | ||
Financial assets. | 14,628,202 | 11,922,317 |
Trade receivables | Amortized cost | ||
Financial assets by category | ||
Financial assets. | 186,276,319 | 158,006,474 |
Other receivables | Amortized cost | ||
Financial assets by category | ||
Financial assets. | $ 11,753,573 | $ 12,124,724 |
FINANCIAL INSTRUMENTS - RISK _4
FINANCIAL INSTRUMENTS - RISK MANAGEMENT - Financial liabilities by category (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
Amortized cost | ||
Financial liabilities by category | ||
Financial liabilities | $ 399,470,755 | $ 404,988,396 |
Fair value | ||
Financial liabilities by category | ||
Financial liabilities | 6,372,275 | 8,225,508 |
Trade and other payables | Amortized cost | ||
Financial liabilities by category | ||
Financial liabilities | 152,753,083 | 142,582,166 |
Trade and other payables | Fair value | ||
Financial liabilities by category | ||
Financial liabilities | 6,372,275 | 8,225,508 |
Borrowings | Amortized cost | ||
Financial liabilities by category | ||
Financial liabilities | 149,510,477 | 168,310,605 |
Convertible notes | Amortized cost | ||
Financial liabilities by category | ||
Financial liabilities | 76,911,874 | 75,213,146 |
Lease liability | Amortized cost | ||
Financial liabilities by category | ||
Financial liabilities | 13,552,751 | 13,889,223 |
Consideration for acquisition of assets | Amortized cost | ||
Financial liabilities by category | ||
Financial liabilities | $ 6,742,570 | $ 4,993,256 |
FINANCIAL INSTRUMENTS - RISK _5
FINANCIAL INSTRUMENTS - RISK MANAGEMENT - Fair value by hierarchy (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
Level 2 | ||
Fair value by hierarchy | ||
Financial liabilities, at fair value | $ 6,372,275 | $ 8,225,508 |
US Treasury bills | Level 1 | ||
Fair value by hierarchy | ||
Financial assets at fair value | 9,719,486 | 9,163,298 |
Mutual funds | Level 1 | ||
Fair value by hierarchy | ||
Financial assets at fair value | 3,236,702 | 1,596,539 |
Other investments | Level 1 | ||
Fair value by hierarchy | ||
Financial assets at fair value | $ 1,672,014 | $ 1,162,480 |
FINANCIAL INSTRUMENTS - RISK _6
FINANCIAL INSTRUMENTS - RISK MANAGEMENT - Currency risk (Details) - Currency risk | 3 Months Ended |
Sep. 30, 2023 USD ($) | |
Currency risk | |
Foreign currency | $ (5,353,860) |
Percentage of that a devaluation or an appreciation of the US Dollar other currencies | 10% |
Effect in profit and loss due to designate devaluation or appreciation of US dollar | $ 500,000 |
LEASES - Right-of-use leased as
LEASES - Right-of-use leased asset (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | Jun. 30, 2023 | |
Right-of-use leased asset | |||
Book value at the beginning of the period/year | $ 13,936,575 | ||
Depreciation of the period/year | 837,199 | $ 676,427 | |
Book value at the end of the period/year | 13,519,199 | $ 13,936,575 | |
Right-of-use leased asset | |||
Right-of-use leased asset | |||
Book value at the beginning of the period/year | 21,163,192 | 15,828,032 | 15,828,032 |
Additions of the period/year | 1,072,418 | 3,154,950 | |
Additions from business combination | 3,005,000 | ||
Disposals | (461,631) | (1,839,921) | |
Exchange differences | (513,269) | 1,015,131 | |
Book value at the end of the period/year | 21,260,710 | 21,163,192 | |
Depreciation | |||
Right-of-use leased asset | |||
Book value at the beginning of the period/year | (7,226,617) | $ (3,684,006) | (3,684,006) |
Disposals | (274,431) | (171,870) | |
Exchange differences | (47,874) | 148,587 | |
Depreciation of the period/year | 837,199 | 3,565,894 | |
Book value at the end of the period/year | $ (7,741,511) | $ (7,226,617) |
LEASES - Lease liability (Detai
LEASES - Lease liability (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Jun. 30, 2023 | |
LEASES | ||
Book value at the beginning of the period/year | $ 13,889,223 | $ 11,751,284 |
Additions of the period/year | 1,072,418 | 3,154,950 |
Additions from business combination | 3,245,000 | |
Interest expenses, exchange differences and inflation effects | (238,851) | (406,494) |
Payment of the period/year | (1,170,039) | (3,855,517) |
Total | 13,552,751 | 13,889,223 |
Lease Liabilities | ||
Non-current | 9,225,862 | 10,030,524 |
Current | 4,326,889 | 3,858,699 |
Total | $ 13,552,751 | $ 13,889,223 |
LEASES - Right-of-use asset by
LEASES - Right-of-use asset by type (Details) - USD ($) | 3 Months Ended | ||
Sep. 30, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | |
Right-of-use leased asset | |||
Right of use asset | $ 13,519,199 | $ 13,936,575 | |
Incremental borrowing rate | 2.13% | ||
Right-of-use leased asset | |||
Right-of-use leased asset | |||
Right of use asset | $ 21,260,710 | 21,163,192 | $ 15,828,032 |
Right-of-use leased asset | Machinery and equipment | |||
Right-of-use leased asset | |||
Right of use asset | 3,655,741 | 3,655,741 | |
Right-of-use leased asset | Vehicles | |||
Right-of-use leased asset | |||
Right of use asset | 1,433,616 | 1,475,581 | |
Right-of-use leased asset | Equipment and computer software | |||
Right-of-use leased asset | |||
Right of use asset | 1,011,490 | 903,306 | |
Right-of-use leased asset | Land and buildings | |||
Right-of-use leased asset | |||
Right of use asset | $ 15,159,863 | $ 15,128,564 |
SHAREHOLDERS AND OTHER RELATE_3
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS - Transactions (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
In-kind contributions | $ 550,183 | |
Total | $ (19,318,403) | (8,459,795) |
Joint ventures and associates | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Sales of goods and services | 6,801,117 | 17,083,027 |
Purchases of goods and services | (20,691,171) | (25,314,814) |
Key management personnel | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Salaries, social security benefits and other benefits | (6,702,803) | (648,494) |
Shareholders and other related parties | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Sales of goods and services | 1,590,568 | 261,418 |
Purchases of goods and services | (196,051) | (239,772) |
In-kind contributions | 550,183 | |
Net loans granted / (cancelled) | (1,609) | |
Interest expenses | (23,000) | |
Parent company and related parties to Parent | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Interest expenses | $ (97,063) | $ (149,734) |
SHAREHOLDERS AND OTHER RELATE_4
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS - Receivable (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Other receivables | $ 24,902,503 | $ 28,824,998 |
Total | 11,769,118 | 10,992,275 |
Shareholders and other related parties | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Other receivables | 2,919,431 | 3,792,429 |
Trade debtors | 1,368,373 | |
Joint ventures and associates | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Other receivables | 6,699,863 | 6,334,219 |
Trade debtors | $ 781,451 | $ 865,627 |
SHAREHOLDERS AND OTHER RELATE_5
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS - Payables (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Total | $ 51,480,103 | $ 45,791,836 |
Parent company and related parties to Parent | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Trade payables/creditors | (270,645) | (644,191) |
Net loans payables | (3,565,754) | (3,491,691) |
Key management personnel | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Salaries, social security benefits and other benefits | (333,616) | (218,068) |
Shareholders and other related parties | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Trade payables/creditors | (27,708) | (35,292) |
Joint ventures and associates | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Trade payables/creditors | $ (47,282,380) | $ (41,402,594) |
KEY MANAGEMENT PERSONNEL COMP_3
KEY MANAGEMENT PERSONNEL COMPENSATION - Summary of compensation of directors and other members (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
KEY MANAGEMENT PERSONNEL COMPENSATION | ||
Salaries, social security and other benefits | $ 509,135 | $ 421,143 |
Share-based incentives | 6,193,668 | 227,351 |
Total | $ 6,702,803 | $ 648,494 |
SHARE-BASED PAYMENT (Details)
SHARE-BASED PAYMENT (Details) $ / shares in Units, $ in Millions | 1 Months Ended |
Aug. 31, 2023 USD ($) $ / shares | |
Past Share Option plan | Minimum | |
SHARE-BASED PAYMENT | |
Exercise price | $ 11.93 |
Past Share Option plan | Maximum | |
SHARE-BASED PAYMENT | |
Exercise price | 13.24 |
Base Share Option plan | |
SHARE-BASED PAYMENT | |
Exercise price | 10.47 |
Performance Share Option plan | |
SHARE-BASED PAYMENT | |
Exercise price | $ 10.47 |
Performance Share Option plan | If EBITDA Reaches at Least US$120 Million | |
SHARE-BASED PAYMENT | |
Threshold earnings before interest | $ | $ 120 |
Vesting percentage | 0% |
Performance Share Option plan | If EBITDA reaches at least US$150 million | |
SHARE-BASED PAYMENT | |
Threshold earnings before interest | $ | $ 150 |
Performance Share Option plan | Maximum | If EBITDA reaches at least US$150 million | |
SHARE-BASED PAYMENT | |
Vesting percentage | 100% |