Document and Entity Information
Document and Entity Information | 9 Months Ended |
Mar. 31, 2024 | |
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 | Mar. 31, 2024 |
Current Fiscal Year End Date | --06-30 |
Document Fiscal Year Focus | 2024 |
Document Fiscal Period Focus | Q3 |
Amendment Flag | false |
UNAUDITED INTERIM CONDENSED CON
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 16,361,199 | $ 48,129,194 |
Other financial assets | 16,453,083 | 12,135,020 |
Trade receivables | 211,185,318 | 158,006,474 |
Other receivables | 30,686,962 | 28,824,998 |
Income and minimum presumed recoverable income taxes | 1,381,839 | 9,444,898 |
Inventories | 129,162,538 | 140,426,975 |
Biological assets | 1,947,754 | 146,842 |
Total current assets | 407,178,693 | 397,114,401 |
NON-CURRENT ASSETS | ||
Other financial assets | 444,725 | 444,909 |
Other receivables | 2,074,238 | 2,546,241 |
Income and minimum presumed recoverable income taxes | 5,575 | 16,286 |
Deferred tax assets | 9,690,160 | 7,312,964 |
Investments in joint ventures and associates | 42,306,321 | 39,296,810 |
Investment properties | 560,783 | 3,589,749 |
Property, plant and equipment | 74,563,591 | 67,853,835 |
Intangible assets | 174,453,875 | 173,783,956 |
Goodwill | 112,163,432 | 112,163,432 |
Right of use asset | 12,688,949 | 13,936,575 |
Total non-current assets | 428,951,649 | 420,944,757 |
Total assets | 836,130,342 | 818,059,158 |
CURRENT LIABILITIES | ||
Trade and other payables | 166,619,725 | 150,807,674 |
Borrowings | 142,608,708 | 107,639,659 |
Employee benefits and social security | 7,815,538 | 9,606,707 |
Deferred revenue and advances from customers | 5,539,897 | 24,875,662 |
Income tax payable | 3,958,922 | 509,034 |
Consideration for acquisition | 2,949,273 | 1,415,099 |
Lease liabilities | 3,480,295 | 3,858,699 |
Total current liabilities | 332,972,358 | 298,712,534 |
NON-CURRENT LIABILITIES | ||
Borrowings | 20,475,005 | 60,670,946 |
Deferred revenue and advances from customers | 2,779,695 | 2,057,805 |
Joint ventures and associates | 622,823 | |
Deferred tax liabilities | 39,420,755 | 35,785,347 |
Provisions | 773,713 | 891,769 |
Consideration for acquisition | 2,664,730 | 3,578,157 |
Secured notes | 79,722,978 | 75,213,146 |
Lease liabilities | 8,791,543 | 10,030,524 |
Total non-current liabilities | 154,628,419 | 188,850,517 |
Total liabilities | 487,600,777 | 487,563,051 |
EQUITY | ||
Equity attributable to owners of the parent | 313,354,742 | 298,594,088 |
Non-controlling interest | 35,174,823 | 31,902,019 |
Total equity | 348,529,565 | 330,496,107 |
Total equity and liabilities | $ 836,130,342 | $ 818,059,158 |
UNAUDITED INTERIM CONDENSED C_2
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | ||||
Revenues from contracts with customers | $ 84,038,761 | $ 92,984,498 | $ 340,515,393 | $ 314,376,460 |
Initial recognition and changes in the fair value of biological assets at the point of harvest | (56,756) | 620,894 | 281,372 | 972,371 |
Cost of sales | (41,337,736) | (36,137,759) | (201,664,054) | (170,954,896) |
Changes in the net realizable value of agricultural products after harvest | 170,811 | (1,111,851) | (2,021,747) | (2,848,810) |
Research and development expenses | (3,590,101) | (3,893,887) | (11,814,419) | (11,203,793) |
Selling, general and administrative expenses | (27,089,241) | (23,987,655) | (92,187,026) | (84,306,143) |
Share of profit or loss of joint ventures and associates | 906,136 | 378,145 | 4,467,103 | 1,260,433 |
Other income or expenses, net | 158,946 | 1,014,335 | (2,239,292) | 1,782,863 |
Operating profit | 13,200,820 | 29,866,720 | 35,337,330 | 49,078,485 |
Financial cost | (7,235,352) | (5,488,591) | (18,713,202) | (18,027,923) |
Other financial results | 2,856,009 | (2,089,237) | (480,187) | (7,578,400) |
Profit before income tax | 8,821,477 | 22,288,892 | 16,143,941 | 23,472,162 |
Income tax | 955,832 | 5,189,627 | (7,806,595) | (507,922) |
Profit for the period | 9,777,309 | 27,478,519 | 8,337,346 | 22,964,240 |
(Loss) profit for the period attributable to: | ||||
Equity holders of the parent | 9,257,226 | 28,145,878 | 4,774,041 | 20,487,429 |
Non-controlling interests | 520,083 | (667,359) | 3,563,305 | 2,476,811 |
Profit for the period | $ 9,777,309 | $ 27,478,519 | $ 8,337,346 | $ 22,964,240 |
Profit per share | ||||
Basic profit attributable to ordinary equity holders of the parent | $ 0.1473 | $ 0.4540 | $ 0.0760 | $ 0.3304 |
Diluted profit attributable to ordinary equity holders of the parent | $ 0.1387 | $ 0.4462 | $ 0.0715 | $ 0.3248 |
Profit for the period | $ 9,777,309 | $ 27,478,519 | $ 8,337,346 | $ 22,964,240 |
Other comprehensive (loss) income | 193,599 | (62,622) | (250,655) | 554,285 |
Items that may be subsequently reclassified to profit and loss | 193,599 | (62,622) | (250,655) | 554,285 |
Foreign exchange differences on translation of foreign operations from joint ventures | (1,136) | (100,292) | (239) | (122,238) |
Foreign exchange differences on translation of foreign operations | 194,735 | 37,670 | (250,416) | 676,523 |
Total comprehensive profit | 9,970,908 | 27,415,897 | 8,086,691 | 23,518,525 |
Total comprehensive (loss) profit attributable to: | ||||
Equity holders of the parent | 9,492,441 | 28,206,144 | 4,639,087 | 20,828,300 |
Non-controlling interests | 478,467 | (790,247) | 3,447,604 | 2,690,225 |
Total comprehensive profit | $ 9,970,908 | $ 27,415,897 | $ 8,086,691 | $ 23,518,525 |
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 | 3,144,903 | 6 | 651,983 | 135,361 | 2,357,553 | 3,144,903 | |||||||
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 | (26,539,505) | (26,539,505) | (26,539,505) | ||||||||||
Issuance of convertible notes | 9,109,516 | 9,109,516 | 9,109,516 | ||||||||||
Distribution of dividends by subsidiary | (452,129) | (452,129) | |||||||||||
Profit for the period | 20,487,429 | 20,487,429 | 2,476,811 | 22,964,240 | |||||||||
Other comprehensive income | 340,871 | 340,871 | 213,414 | 554,285 | |||||||||
Balance at Mar. 31, 2023 | 301,092,769 | 6,436 | 325,040,538 | (255,893) | (780,841) | 7,745,618 | 9,285,261 | (30,070,431) | (12,195,464) | 1,310,273 | 1,007,272 | 33,178,371 | 334,271,140 |
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 | 10,855,955 | 6 | 573,636 | 10,282,313 | 10,855,955 | ||||||||
Purchase of own shares | (734,388) | (734,388) | (734,388) | ||||||||||
Distribution of dividends by subsidiary | (174,800) | (174,800) | |||||||||||
Profit for the period | 4,774,041 | 4,774,041 | 3,563,305 | 8,337,346 | |||||||||
Other comprehensive income | (134,954) | (134,954) | (115,701) | (250,655) | |||||||||
Balance at Mar. 31, 2024 | $ 313,354,742 | $ 6,499 | $ 327,602,195 | $ (255,893) | $ (780,841) | $ 16,927,755 | $ 9,285,261 | $ (31,287,979) | $ (9,128,976) | $ 1,147,423 | $ (160,702) | $ 35,174,823 | $ 348,529,565 |
UNAUDITED INTERIM CONDENSED C_4
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Jun. 30, 2023 | |
OPERATING ACTIVITIES | |||||
Profit for the period | $ 9,777,309 | $ 27,478,519 | $ 8,337,346 | $ 22,964,240 | |
Adjustments to reconcile profit to net cash flows | |||||
Income tax | 7,806,595 | 507,922 | |||
Financial results | 19,193,389 | 25,606,323 | |||
Depreciation of property, plant and equipment | 3,923,274 | 4,201,056 | |||
Amortization of intangible assets | 8,235,478 | 7,958,605 | |||
Depreciation of leased assets | 2,526,174 | 2,816,343 | |||
Transactional expenses | 3,973,916 | ||||
Share-based incentive and stock options | 11,481,363 | 2,680,218 | |||
Share of profit or loss of joint ventures and associates | (906,136) | (378,145) | (4,467,103) | (1,260,433) | |
Loss of participation in joint ventures and associates | 13,433 | ||||
Provisions for contingencies | 362,248 | 61,948 | |||
Allowance for impairment of trade debtors | 463,688 | 510,243 | |||
Allowance for obsolescence | 335,763 | 814,026 | |||
Initial recognition and changes in the fair value of biological assets | (281,372) | (972,371) | |||
Changes in the net realizable value of agricultural products after harvest | 2,021,747 | 2,848,810 | |||
Gain or loss on sale of equipment and intangible assets | (87,599) | (68,292) | |||
Working capital adjustments | |||||
Trade receivables | (48,428,426) | (40,769,077) | |||
Other receivables | (2,721,910) | (12,211,085) | |||
Income and minimum presumed income taxes | 4,623,067 | (11,141,678) | |||
Inventories and biological assets | 7,577,552 | (19,371,086) | |||
Trade and other payables | 16,662,579 | (3,741,470) | |||
Employee benefits and social security | (1,791,169) | 320,004 | |||
Deferred revenue and advances from customers | (18,613,875) | 24,123,896 | |||
Income taxes paid | (3,468,795) | ||||
Interest collected | 1,408,277 | 4,777,712 | |||
Inflation effects on working capital adjustments | (107,285) | (94,393) | |||
Net cash flows generated by operating activities | 18,459,801 | 11,080,015 | |||
INVESTMENT ACTIVITIES | |||||
Proceeds from sale of property, plant and equipment | 167,868 | 107,155 | |||
Net cash received from business combination | 4,373,265 | ||||
Proceeds from financial assets | 2,491,947 | ||||
Investment in financial assets | (11,873,696) | (13,458,518) | |||
Purchase of property, plant and equipment | (7,773,443) | (7,319,549) | |||
Capitalized development expenditures | (7,867,528) | (8,479,784) | |||
Purchase of intangible assets | (1,086,398) | (198,203) | |||
Net cash flows used by investing activities | (28,433,197) | (22,483,687) | |||
FINANCING ACTIVITIES | |||||
Proceeds from borrowings | 139,750,796 | 180,832,115 | |||
Repayment of borrowings and financed payments | (131,671,711) | (127,855,172) | |||
Interest payments | (16,806,711) | (12,841,462) | |||
Other financial proceeds or payments, net | (1,800,597) | (5,009,457) | |||
Purchase of own shares | (734,388) | (2,513,787) | |||
Leased assets payments | (3,939,771) | (2,530,405) | |||
Cash dividend distributed by subsidiary | (174,800) | (452,129) | |||
Net cash flows (used) generated by financing activities | (15,377,182) | 29,629,703 | |||
Net (decrease) increase in cash and cash equivalents | (25,350,578) | 18,226,031 | |||
Inflation effects on cash and cash equivalents | (23,071) | (30,650) | |||
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 | (6,394,346) | 6,066,491 | |||
Cash and cash equivalents as of the end of the period | $ 16,361,199 | $ 57,737,138 | $ 16,361,199 | $ 57,737,138 | $ 48,129,194 |
GENERAL INFORMATION
GENERAL INFORMATION | 9 Months Ended |
Mar. 31, 2024 | |
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 45 countries, primarily in South America, the United States and Europe. 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 | 9 Months Ended |
Mar. 31, 2024 | |
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 nine-month period ended March 31, 2024, 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 March 31, 2024, June 30, 2023 and for the three and nine month periods ended March 31, 2024 and 2023 were authorized by the Board of Directors of Bioceres Crop Solutions Corp. on May 29, 2024. Basis of measurement The consolidated financial statements of the Group have been prepared using: ● ● 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 In previous years, the Group presented the sum of revenues from contracts with customers, initial recognition and changes in fair value of biological assets at the point of harvest, and changes in the net realizable value of agricultural products after harvest in a caption “Total” to assist investors to understand the performance of the Group’s comprehensive income for each fiscal year. As of the current period, that caption has been removed from the consolidated statements of comprehensive income to be aligned with comparable companies of the industry. 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 | 9 Months Ended |
Mar. 31, 2024 | |
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 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. The above amendments are not expected to have material impact on the Group. - IFRS 18 – Presentation and Disclosure in Financial Statements. This standard sets out requirements for the presentation and disclosure of information in general purpose financial statements to help ensure they provide relevant information that faithfully represents an entity’s assets, liabilities, equity, income and expenses. It is effective for annual periods beginning on or after January 1, 2027. The Group is currently analyzing the potential impact of this standard on our financial statements. |
SEASONALITY
SEASONALITY | 9 Months Ended |
Mar. 31, 2024 | |
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 | 9 Months Ended |
Mar. 31, 2024 | |
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 03/31/2024 06/30/2023 Cash at bank and on hand 16,361,199 48,129,194 16,361,199 48,129,194 5.2. Other financial assets 03/31/2024 06/30/2023 Current Restricted short-term deposits — 212,703 US Treasury bills 4,497,915 9,163,298 Mutual funds 9,304,234 1,596,539 Other investments 2,650,934 1,162,480 16,453,083 12,135,020 03/31/2024 06/30/2023 Non-current Shares of Bioceres S.A. 444,410 444,635 Other investments 315 274 444,725 444,909 5.3. Trade receivables 03/31/2024 06/30/2023 Current Trade debtors 217,411,575 160,269,233 Allowance for impairment of trade debtors (7,538,577) (7,425,604) Shareholders and other related parties (Note 15) 1,135,342 — Allowance for credit notes to be issued (3,955,767) (3,694,019) Trade debtors - Joint ventures and associates (Note 15) — 865,627 Deferred checks 4,132,745 7,991,237 211,185,318 158,006,474 The book value is reasonably approximate to the fair value given its short-term nature. 5.4. Other receivables 03/31/2024 06/30/2023 Current Taxes 6,044,470 6,113,764 Receivables for PP&E sales — 156,423 Shareholders and other related parties (Note 15) 3,214,782 3,792,429 Other receivables - Joint ventures and associates (Note 15) 8,289,497 6,104,219 Prepayments to suppliers 6,795,008 10,956,831 Reimbursements over exports — 10,558 Prepaid expenses and other receivables 4,919,413 1,302,221 Miscellaneous 1,423,792 388,553 30,686,962 28,824,998 03/31/2024 06/30/2023 Non-current Taxes 701,475 873,699 Reimbursements over exports 1,120,625 1,290,227 Loans receivables 230,000 230,000 Miscellaneous 22,138 152,315 2,074,238 2,546,241 5.5. Inventories 03/31/2024 06/30/2023 Seeds 591,889 1,542,159 Resale products 69,256,987 58,544,931 Manufactured products 28,389,645 25,881,761 Goods in transit 1,643,982 3,620,606 Supplies 18,545,213 24,893,187 Agricultural products 13,481,807 28,436,830 Allowance for obsolescence (2,746,985) (2,492,499) 129,162,538 140,426,975 Net of agricultural products 115,680,731 111,990,145 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 (61,540) 3,790 231,523 106,605 994 281,372 Costs incurred during the period 1,391,813 774,400 — — 137,682 2,303,895 Decrease due to harvest/disposals — (160,709) (319,308) (165,662) (138,676) (784,355) Period ended March 31, 2024 1,330,273 617,481 — — — 1,947,754 Soybean Corn Wheat Barley Sunflower 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 275,070 289,648 191,481 159,996 56,176 972,371 Costs incurred during the period 986,505 721,294 389,282 126,293 83,651 2,307,025 Decrease due to harvest/disposals (158,356) (70,510) (625,176) (299,189) (139,827) (1,293,058) Period ended March 31, 2023 1,103,219 940,432 — — — 2,043,651 5.7. Property, plant and equipment Property, plant and equipment as of March 31, 2024 and June 30, 2023 included the following: 03/31/2024 06/30/2023 Gross carrying amount 103,993,253 93,634,779 Accumulated depreciation (29,429,662) (25,780,944) Net carrying amount 74,563,591 67,853,835 Net carrying amount for each class of assets is as follows: Net carrying Net carrying amount amount Class 03/31/2024 06/30/2023 Office equipment 267,480 263,892 Vehicles 1,989,973 2,032,853 Equipment and computer software 171,674 174,399 Fixtures and fittings 2,279,558 2,862,949 Machinery and equipment 13,106,958 14,463,756 Land and buildings 38,673,141 36,144,792 Buildings in progress 18,074,807 11,911,194 Total 74,563,591 67,853,835 1. Gross carrying amount as of March 31, 2024 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 56,301 — (2,938) 1,021,451 Vehicles 5,492,319 588,368 (63,744) (83,135) 5,933,808 Equipment and computer software 974,509 152,174 (1,664) (7,568) 1,117,451 Fixtures and fittings 7,663,899 11,085 — (4,060) 7,670,924 Machinery and equipment 23,513,047 572,889 (115,211) (76,764) 23,893,961 Land and buildings 43,111,723 3,228,807 — (59,679) 46,280,851 Buildings in progress (a) 11,911,194 6,367,797 — (204,184) 18,074,807 Total 93,634,779 10,977,421 (180,619) (438,328) 103,993,253 (a)- Includes capitalized financial costs of $100,809 corresponding to the period ended March 31, 2024. 2. Accumulated depreciation as of March 31, 2024 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 — 51,251 (1,476) 753,971 Vehicles 3,459,466 (54,731) 635,040 (95,940) 3,943,835 Equipment and computer software 800,110 (1,664) 152,719 (5,388) 945,777 Fixtures and fittings 4,800,950 — 592,248 (1,832) 5,391,366 Machinery and equipment 9,049,291 (43,955) 1,789,498 (7,831) 10,787,003 Land and buildings 6,966,931 — 702,518 (61,739) 7,607,710 Total 25,780,944 (100,350) 3,923,274 (174,206) 29,429,662 3. Gross carrying amount as of March 31, 2023 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 32,165 — — 3,068 943,237 Vehicles 5,261,979 263,773 — (59,744) 2,180 5,468,188 Equipment and computer software 925,349 72,436 12,469 (61,603) 3,614 952,265 Fixtures and fittings 7,606,389 47,224 5,379 — 1,482 7,660,474 Machinery and equipment 13,017,830 1,547,046 7,047,496 (26,958) 2,243 21,587,657 Land and buildings 40,659,129 — 4,750,136 — 23,936 45,433,201 Buildings in progress (a) 3,142,774 5,297,301 1,285,092 — 61,249 9,786,416 Total 71,521,454 7,259,945 13,100,572 (148,305) 97,772 91,831,438 (a)- Includes capitalized financial costs of $ 59,604 corresponding to the period ended March 31, 2023. 4. Accumulated depreciation as of March 31, 2023 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 — 48,541 693 687,700 Vehicles 2,596,905 (59,744) 717,554 1,990 3,256,705 Equipment and computer software 693,673 (44,309) 107,642 2,313 759,319 Fixtures and fittings 4,059,470 — 553,608 711 4,613,789 Machinery and equipment 7,205,870 (5,389) 2,091,363 7,407 9,299,251 Land and buildings 6,418,745 — 682,348 317 7,101,410 Total 21,613,129 (109,442) 4,201,056 13,431 25,718,174 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 March 31, 2024 and June 30, 2023 included the following: 03/31/2024 06/30/2023 Gross carrying amount 211,204,058 202,306,618 Accumulated amortization (36,750,183) (28,522,662) Net carrying amount 174,453,875 173,783,956 Net carrying amount of each class of intangible assets is as follows: Net carrying Net carrying amount amount Class 03/31/2024 (1) 06/30/2023 (1) Seed and integrated products HB4 soy and breeding program 33,806,586 31,679,681 Integrated seed products 2,658,346 2,841,008 Crop nutrition Microbiological products 51,728,746 49,508,801 Other intangible assets Trademarks and patents 56,737,786 59,760,753 Software 2,543,636 1,987,690 Customer loyalty 21,978,775 23,006,023 RG/RS/OX Wheat 5,000,000 5,000,000 Total 174,453,875 173,783,956 (1) Includes $34.2 million as of March 31, 2024 and $27.4 million as of June 30, 2023 of intangible assets not subject to amortization. 1. Gross carrying amount as of March 31, 2024 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 3,409,547 — 38,367,972 Integrated seed products 3,219,808 — (48,447) 3,171,361 Crop nutrition Microbiological products 55,645,028 4,457,981 — 60,103,009 Other intangible assets Trademarks and patents 67,653,234 36,249 — 67,689,483 Software 5,582,411 1,050,149 (8,039) 6,624,521 Customer loyalty 30,247,712 — — 30,247,712 RG/RS/OX Wheat 5,000,000 — — 5,000,000 Total 202,306,618 8,953,926 (56,486) 211,204,058 2. Accumulated amortization as of March 31, 2024 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 1,282,642 — 4,561,386 Integrated seed products 378,800 139,914 (5,699) 513,015 Crop nutrition Microbiological products 6,136,227 2,238,036 — 8,374,263 Other intangible assets Trademarks and patents 7,892,481 3,059,216 — 10,951,697 Software 3,594,721 488,422 (2,258) 4,080,885 Customer loyalty 7,241,689 1,027,248 — 8,268,937 Total 28,522,662 8,235,478 (7,957) 36,750,183 3. Gross carrying amount as of March 31, 2023 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 2,499,931 — — 33,871,019 Integrated seed products 3,181,155 — — 32,667 3,213,822 Crop nutrition Microbiological products 8,855,421 5,979,853 39,613,280 3,064 54,451,618 Other intangible assets Trademarks and patents 12,183,045 61,803 55,420,441 — 67,665,289 Software 5,176,373 136,400 — 12,488 5,325,261 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 8,677,987 96,818,958 48,219 199,774,721 4. Accumulated amortization as of March 31, 2023 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 1,270,163 — 2,838,717 Integrated seed products 43,997 34,439 1,921 80,357 Crop nutrition Microbiological products 3,063,073 3,218,529 — 6,281,602 Other intangible assets Trademarks and patents 3,916,004 67,578 — 3,983,582 Software 3,008,388 999,286 1,212 4,008,886 Customer loyalty 5,924,672 2,368,610 — 8,293,282 Total 17,524,688 7,958,605 3,133 25,486,426 The amortization charge is included in Notes 6.3 and 6.4. 5.9. Goodwill 03/31/2024 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 03/31/2024 06/30/2023 Investment properties 560,783 3,589,749 560,783 3,589,749 5.11. Trade and other payables 03/31/2024 06/30/2023 Trade creditors 100,566,790 104,211,238 Shareholders and other related parties (Note 15) 90,765 35,292 Trade creditors - Parent company (Note 15) 206,962 644,191 Trade creditors - Joint ventures and associates (Note 15) 60,463,450 41,402,594 Taxes 5,192,702 3,561,058 Miscellaneous 99,056 953,301 166,619,725 150,807,674 5.12. Borrowings 03/31/2024 06/30/2023 Current Bank borrowings 90,932,210 61,303,952 Corporate bonds 45,010,123 35,547,510 Trust debt securities 2,953,319 7,296,506 Net loans payables- Parents companies and related parties to Parent (Note 15) 3,713,056 3,491,691 142,608,708 107,639,659 Non-current Bank borrowings 13,840,284 10,663,266 Corporate bonds 5,071,823 50,007,680 Trust debt securities 1,562,898 — 20,475,005 60,670,946 The carrying value of some borrowings as of March 31, 2024 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. 03/31/2024 06/30/2023 Amortized cost Fair value Amortized cost Fair value Current Bank borrowings 90,932,210 89,596,837 61,303,952 57,209,155 Corporate Bonds 45,010,123 44,268,325 35,547,510 34,725,828 Non-current Bank borrowings 13,840,284 13,010,039 10,663,266 10,374,646 Corporate Bonds 5,071,823 4,871,622 50,007,680 47,014,542 5.13. Secured Notes Secured Guaranteed Notes The carrying value of $26.5 million of the Secured Guaranteed Notes as of March 31, 2024 are measured at amortized cost. Its fair value based on discounted cash flows, using a fair interest rate, would amount to $27 million. Secured Convertible Guaranteed Notes The carrying value of $53.2 million of the Secured Convertible Guaranteed Notes as of March 31, 2024 are measured at amortized cost. Its fair value based on discounted cash flows, using a fair interest rate, would amount to $55.7 million. Under the terms of the Secured Convertible Guaranteed Notes, the Group is in compliance with covenants. 5.14. Employee benefits and social security 03/31/2024 06/30/2023 Salaries, accrued incentives, vacations and social security 7,731,620 9,388,639 Key management personnel (Note 15) 83,918 218,068 7,815,538 9,606,707 5.15. Deferred revenue and advances from customers 03/31/2024 06/30/2023 Current Advances from customers 4,096,466 9,216,032 Deferred revenue 1,443,431 15,659,630 5,539,897 24,875,662 Non-current Advances from customers 110,285 620,893 Deferred revenue 2,669,410 1,436,912 2,779,695 2,057,805 |
INFORMATION ABOUT COMPONENTS _2
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | 9 Months Ended |
Mar. 31, 2024 | |
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 03/31/2024 03/31/2023 Sale of goods and services 324,017,247 281,274,372 Royalties 838,516 198,630 Right of use licenses 15,659,630 32,903,458 340,515,393 314,376,460 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 03/31/2024 03/31/2023 Inventories as of the beginning of the period 111,990,145 78,759,610 Business combination — 11,064,908 Purchases of the period 186,878,728 173,983,461 Production costs 18,690,702 20,705,305 Foreign currency translation (214,790) (59,173) Subtotal 317,344,785 284,454,111 Inventories as of the end of the period (*) (115,680,731) (113,499,215) Cost of sales 201,664,054 170,954,896 (*) 6.3. R&D classified by nature Research and Research and development development expenses expenses Item 03/31/2024 03/31/2023 Amortization of intangible assets 3,669,870 3,407,314 Analysis and storage 5,302 34,135 Import and export expenses — 850 Depreciation of property, plant and equipment 466,453 433,289 Freight and haulage 23,924 9,080 Employee benefits and social securities 3,847,298 3,515,918 Maintenance 220,228 430,497 Energy and fuel 8,337 104,181 Supplies and materials 1,418,048 1,678,527 Mobility and travel 157,561 211,183 Share-based incentives 394,997 122,222 Publicity and advertising — 20,589 Professional fees and outsourced services 848,716 746,611 Professional fees related parties 163,008 237,864 Office supplies 527,956 79,459 Information technology expenses 26,716 38,436 Insurance 35,690 62,884 Depreciation of leased assets — 46,772 Miscellaneous 315 23,982 Total 11,814,419 11,203,793 R&D capitalized (Note 5.8) 7,867,528 8,479,784 R&D profit and loss 11,814,419 11,203,793 Total 19,681,947 19,683,577 6.4. Expenses classified by nature and function Selling, general and Production administrative Total Item costs expenses 03/31/2024 Amortization of intangible assets 111,190 4,454,418 4,565,608 Analysis and storage 570 156,402 156,972 Commissions and royalties 419,089 1,342,811 1,761,900 Import and export expenses 56,789 502,588 559,377 Depreciation of property, plant and equipment 2,014,248 1,442,573 3,456,821 Depreciation of leased assets 1,003,866 1,522,308 2,526,174 Impairment of receivables — 463,688 463,688 Freight and haulage 1,006,879 9,326,846 10,333,725 Employee benefits and social securities 8,057,497 29,437,292 37,494,789 Maintenance 1,565,609 1,665,461 3,231,070 Energy and fuel 671,376 363,024 1,034,400 Supplies and materials 714,346 2,398,596 3,112,942 Mobility and travel 126,559 3,216,650 3,343,209 Publicity and advertising 1,735 3,434,408 3,436,143 Contingencies 43,598 318,650 362,248 Share-based incentives 445,153 10,641,213 11,086,366 Professional fees and outsourced services 1,496,057 6,257,187 7,753,244 Professional fees related parties — 134,366 134,366 Office supplies and registrations fees 139,983 927,625 1,067,608 Insurance 158,218 1,602,483 1,760,701 Information technology expenses 31,175 2,821,390 2,852,565 Obsolescence 335,763 — 335,763 Taxes 288,287 9,611,667 9,899,954 Miscellaneous 2,715 145,380 148,095 Total 18,690,702 92,187,026 110,877,728 Selling, general and Production administrative Total Item costs expenses 03/31/2023 Amortization of intangible assets 130,260 4,421,031 4,551,291 Analysis and storage 5,173 334,532 339,705 Commissions and royalties 122,275 1,304,013 1,426,288 Import and export expenses 188,051 510,368 698,419 Depreciation of property, plant and equipment 2,274,040 1,493,727 3,767,767 Depreciation of leased assets 320,024 2,449,547 2,769,571 Impairment of receivables — 510,243 510,243 Freight and haulage 1,861,657 7,831,593 9,693,250 Employee benefits and social securities 9,428,993 27,655,561 37,084,554 Maintenance 1,100,483 1,408,342 2,508,825 Energy and fuel 998,752 269,725 1,268,477 Supplies and materials 791,071 794,865 1,585,936 Mobility and travel 95,638 3,147,898 3,243,536 Publicity and advertising 2,528 4,510,067 4,512,595 Contingencies — 61,948 61,948 Share-based incentives 73,165 2,484,831 2,557,996 Professional fees and outsourced services 2,100,245 10,217,378 12,317,623 Professional fees related parties — 53,501 53,501 Office supplies and registrations fees 54,041 999,428 1,053,469 Insurance 130,800 2,310,796 2,441,596 Information technology expenses 20,550 2,322,092 2,342,642 Obsolescence 814,026 — 814,026 Taxes 193,533 8,710,646 8,904,179 Miscellaneous — 504,011 504,011 Total 20,705,305 84,306,143 105,011,448 6.5. Other income or expenses, net 03/31/2024 03/31/2023 Net result from commercialization of agricultural products (2,718,633) 698,517 Expenses recovery 319,843 482,034 Other income or expenses, net 159,498 602,312 (2,239,292) 1,782,863 6.6. Finance results 03/31/2024 03/31/2023 Financial costs Interest expenses with the Parents (Note 15) (255,816) (426,667) Interest expenses (16,656,789) (15,578,825) Financial commissions (1,800,597) (2,022,431) (18,713,202) (18,027,923) Other financial results Exchange differences generated by assets (17,368,288) (16,859,096) Exchange differences generated by liabilities 25,808,288 11,615,309 Changes in fair value of financial assets or liabilities and other financial results (9,928,530) (2,926,589) Net gain of inflation effect on monetary items 1,008,343 591,976 (480,187) (7,578,400) |
TAXATION
TAXATION | 9 Months Ended |
Mar. 31, 2024 | |
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. 03/31/2024 03/31/2023 Current tax expense (7,016,611) (1,452,477) Deferred tax (789,984) 944,555 Total (7,806,595) (507,922) 03/31/2024 03/31/2023 Beginning of the period deferred tax (28,472,383) (24,994,569) Additions for business combination — (16,704,771) Charge for the period (789,984) 944,555 Conversion difference (468,228) (810,767) Total net deferred tax (29,730,595) (41,565,552) 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: 03/31/2024 03/31/2023 Earning before income tax-rate 16,143,941 23,472,162 Income tax expense by applying tax rate in force in the respective countries (4,121,315) (1,139,677) Share of profit of subsidiaries, joint ventures and associates 1,503,115 202,534 Stock options charge (2,257,743) (434,439) Non-deductible expenses (397,162) (180,850) Unrecognized deferred tax — (8,024) Tax inflation adjustment 8,722,532 5,587,101 Result of inflation effect on monetary items and other finance results (11,256,022) (4,367,390) Other tax benefit — 183,917 Others — (351,094) Income tax expenses (7,806,595) (507,922) The income tax expense was calculated by applying the tax rate in force in the respective countries, as follows. Weight average Earnings before applicable tax Income tax as of Tax jurisdiction income tax-rate rate March 31, 2024 Low or null taxation jurisdictions 9,509,610 0.0 % — Profit-making entities 31,083,400 34.0 % 10,583,572 Loss-making entities (24,449,069) 26.4 % (6,462,257) 16,143,941 4,121,315 Weight average Earnings before applicable tax Income tax as of Tax jurisdiction income tax-rate rate March 31, 2023 Low or null taxation jurisdictions 24,291,640 0.0 % — Profit-making entities 14,398,735 31.0 % 4,464,256 Loss-making entities (15,218,213) 21.8 % (3,324,580) 23,472,162 1,139,677 |
EARNING PER SHARE
EARNING PER SHARE | 9 Months Ended |
Mar. 31, 2024 | |
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: Three-month period ended Nine-month period ended 03/31/2024 03/31/2023 03/31/2024 03/31/2023 Numerator Profit for the period (basic EPS) 9,257,226 28,145,878 4,774,041 20,487,429 Profit for the period (diluted EPS) 9,257,226 28,145,878 4,774,041 20,487,429 Denominator Weighted average number of shares (basic EPS) 62,837,668 62,002,011 62,837,668 62,002,011 Weighted average number of shares (diluted EPS) 66,761,225 63,079,523 66,761,225 63,079,523 Basic profit attributable to ordinary equity holders of the parent 0.1473 0.4540 0.0760 0.3304 Diluted profit attributable to ordinary equity holders of the parent 0.1387 0.4462 0.0715 0.3248 For the three month and nine-month period ended March 31, 2024 and 2023, 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, from share-based incentives, were included in the diluted EPS calculation for the three and nine-month period ended March 31, 2024 and 2023 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 three and nine-month period ended March 31, 2024 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 | 9 Months Ended |
Mar. 31, 2024 | |
EQUITY INFORMATION | |
EQUITY INFORMATION | 9. EQUITY INFORMATION Capital issued As of March 31, 2024, we had (i) 100,000,000 ordinary shares ($0.0001 par value) authorized, (ii) 62,845,314 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 | 9 Months Ended |
Mar. 31, 2024 | |
CASH FLOW INFORMATION | |
CASH FLOW INFORMATION | 10. CASH FLOW INFORMATION Significant non-cash transactions related to investing and financing activities are as follows: 03/31/2024 03/31/2023 Investment activities Net assets acquisition by business combination — 152,070,313 Investment in-kind in other related parties (Note 15) 2,115,109 1,429,089 Capitalization of interest on buildings in progress 100,809 59,604 Reclassification from investment properties to property, plant and equipment 3,103,169 — Sale of Moolec Science S.A. equity investment (Note 11) (900,000) — 4,419,087 153,559,006 03/31/2024 03/31/2023 Financing activities Capitalization of convertible notes (Note 5.13) — 12,211,638 Purchase of own shares — (24,025,718) — (11,814,080) |
JOINT VENTURES AND ASSOCIATES
JOINT VENTURES AND ASSOCIATES | 9 Months Ended |
Mar. 31, 2024 | |
JOINT VENTURES AND ASSOCIATES | |
JOINT VENTURES AND ASSOCIATES | 11. JOINT VENTURES AND ASSOCIATES 03/31/2024 06/30/2023 Assets Synertech Industrias S.A. 39,942,506 36,026,710 Trigall Genetics S.A. 8,534 — Alfalfa Technologies S.R.L. 36,503 36,502 Moolec Science S.A. 2,318,778 3,233,598 42,306,321 39,296,810 03/31/2024 06/30/2023 Liabilities Trigall Genetics S.A. — 622,823 — 622,823 Changes in joint ventures investments and affiliates: 03/31/2024 03/31/2023 As of the beginning of the period 38,673,987 37,836,144 Share-based incentives 65,470 3,825 Sale of equity investment - Indrasa Biotecnología S.A. — (13,433) Sale of equity investment - Moolec Science S.A. (900,000) — Foreign currency translation (239) (122,238) Share of profit or loss 4,467,103 1,260,433 As of the end of the period 42,306,321 38,964,731 Share of profit or loss of joint ventures and affiliates: 03/31/2024 03/31/2023 Trigall Genetics S.A. 631,357 496,934 Synertech Industrias S.A. 3,915,797 337,543 Moolec Science S.A. (80,051) 482,989 Indrasa Biotecnología S.A. — (57,033) 4,467,103 1,260,433 |
SEGMENT INFORMATION
SEGMENT INFORMATION | 9 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 products protection nutrition Consolidated Revenues from contracts with customers Sale of goods and services 61,996,719 173,971,462 103,708,696 339,676,877 Royalties 838,516 — — 838,516 Others Initial recognition and changes in the fair value of biological assets at the point of harvest 281,372 — — 281,372 Total 63,116,607 173,971,462 103,708,696 340,796,765 Cost of sales (42,331,794) (110,242,995) (49,089,265) (201,664,054) Gross profit per segment 20,784,813 63,728,467 54,619,431 139,132,711 % Gross margin 33 % 37 % 53 % 41 % Seed and integrated Crop Crop Period ended March 31, 2023 products protection nutrition Consolidated Revenues from contracts with customers Sale of goods and services 35,747,136 160,300,954 118,129,740 314,177,830 Royalties 198,630 — — 198,630 Others Initial recognition and changes in the fair value of biological assets at the point of harvest 145,985 448,227 378,159 972,371 Total 36,091,751 160,749,181 118,507,899 315,348,831 Cost of sales (15,876,212) (106,523,851) (48,554,833) (170,954,896) Gross profit per segment 20,215,539 54,225,330 69,953,066 144,393,935 % Gross margin 56 % 34 % 59 % 46 % 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 Group has recast the comparative amounts. |
FINANCIAL INSTRUMENTS - RISK MA
FINANCIAL INSTRUMENTS - RISK MANAGEMENT | 9 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024, and June 30, 2023. Financial assets by category Mandatorily measured at fair Amortized cost value through profit or loss Financial asset 03/31/2024 06/30/2023 03/31/2024 06/30/2023 Cash and cash equivalents 16,361,199 48,129,194 — — Other financial assets 444,725 657,612 16,453,083 11,922,317 Trade receivables 211,185,318 158,006,474 — — Other receivables (*) 14,300,834 12,124,724 — — Total 242,292,076 218,918,004 16,453,083 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 03/31/2024 06/30/2023 03/31/2024 06/30/2023 Trade and other payables 161,473,722 142,582,166 5,146,003 8,225,508 Borrowings 163,083,713 168,310,605 — — Secured notes 79,722,978 75,213,146 — — Lease liability 12,271,838 13,889,223 — — Consideration for acquisition of assets 5,614,003 4,993,256 — — Total 422,166,254 404,988,396 5,146,003 8,225,508 Financial instruments measured at fair value Measurement at fair value at 03/31/2024 Level 1 Level 2 Level 3 Financial assets at fair value US Treasury bills 4,497,915 — — Mutual funds 9,304,234 — — Other investments 2,650,934 — — Financial liability at fair value Trade and other payables — 5,146,003 — 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 March 31, 2024: Net foreign currency position 03/31/2024 Amount expressed in US$ (16,326,836) Considering only this net currency exposure as of March 31, 2024 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 March 31, 2024 would have resulted in a net pre-tax loss or gain of approximately $1.6 million. |
LEASES
LEASES | 9 Months Ended |
Mar. 31, 2024 | |
LEASES | |
LEASES | 14. LEASES Right-of-use leased asset 03/31/2024 06/30/2023 Book value at the beginning of the period/year 21,163,192 15,828,032 Additions of the period/year 2,146,418 3,154,950 Additions from business combination — 3,005,000 Disposals (1,375,665) (1,839,921) Exchange differences (426,105) 1,015,131 Book value at the end of the period/year 21,507,840 21,163,192 Depreciation 03/31/2024 06/30/2023 Book value at the beginning of the period/year 7,226,617 3,684,006 Depreciation of the period/year 2,526,174 3,565,894 Disposals (921,505) (171,870) Exchange differences (12,395) 148,587 Accumulated depreciation at the end of the period/year 8,818,891 7,226,617 Total 12,688,949 13,936,575 Lease liability 03/31/2024 06/30/2023 Book value at the beginning of the period/year 13,889,223 11,751,284 Additions of the period/year 2,146,418 3,154,950 Additions from business combination — 3,245,000 Interest expenses, exchange differences and inflation effects 175,968 (406,494) Payments of the period/year (3,939,771) (3,855,517) Total 12,271,838 13,889,223 Lease Liabilities 03/31/2024 06/30/2023 Non-current 8,791,543 10,030,524 Current 3,480,295 3,858,699 Total 12,271,838 13,889,223 The recognized right-of-use assets relate to the following types of assets: 03/31/2024 06/30/2023 Machinery and equipment 3,655,741 3,655,741 Vehicles 1,372,597 1,475,581 Equipment and computer software 1,036,258 903,306 Land and buildings 15,443,244 15,128,564 21,507,840 21,163,192 The incremental borrowing rate used was 2.34 % in US$ and 12.81% in reais. |
SHAREHOLDERS AND OTHER RELATED
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | 9 Months Ended |
Mar. 31, 2024 | |
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | |
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | 15. SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS During the period ended March 31, 2024, and 2023, 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 03/31/2024 03/31/2023 Joint ventures and associates Sales and services 19,404,971 24,927,813 Joint ventures and associates Purchases of goods and services (20,951,684) (48,561,129) Key management personnel Salaries, social security benefits and other benefits (4,425,476) (3,963,332) Key management personnel Sales and services — 572,136 Shareholders and other related parties Sales of goods and services 7,156,388 597,950 Shareholders and other related parties Purchases of goods and services (1,401,698) (2,239,972) Shareholders and other related parties In-kind contributions 2,115,109 1,429,089 Shareholders and other related parties Interest expenses — 19,513 Parent company and related parties to Parent (Note 6.6) Interest expenses (255,816) (426,667) Total 1,641,794 (27,644,599) Amounts receivable from related parties Party Transaction type 03/31/2024 06/30/2023 Shareholders and other related parties Trade debtors 1,135,342 — Shareholders and other related parties Other receivables 3,214,782 3,792,429 Joint ventures and associates Trade debtors — 865,627 Joint ventures and associates Other receivables 8,519,497 6,334,219 Total 12,869,621 10,992,275 Amounts payable to related parties Party Transaction type 03/31/2024 06/30/2023 Parent company and related parties to Parent Trade creditors (206,962) (644,191) Parent company and related parties to Parent Net loans payables (3,713,056) (3,491,691) Key management personnel Salaries, social security benefits and other benefits (83,918) (218,068) Shareholders and other related parties Trade and other payables (90,765) (35,292) Joint ventures and associates Trade creditors (60,463,450) (41,402,594) Total (64,558,151) (45,791,836) |
KEY MANAGEMENT PERSONNEL COMPEN
KEY MANAGEMENT PERSONNEL COMPENSATION | 9 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024, and 2023. 03/31/2024 03/31/2023 Salaries, social security and other benefits 1,472,483 1,283,114 Share-based incentives 2,952,993 2,680,218 Total 4,425,476 3,963,332 |
SHARE-BASED PAYMENT
SHARE-BASED PAYMENT | 9 Months Ended |
Mar. 31, 2024 | |
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 between $10.47 and $10.79 . - Performance Share Option plan: to vest and become exercisable if the Group’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. These options have also a strike price of between $10.47 and $10.79 . 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 March 31, 2024, 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 | 9 Months Ended |
Mar. 31, 2024 | |
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 | 9 Months Ended |
Mar. 31, 2024 | |
EVENTS OCCURRING AFTER THE REPORTING PERIOD | |
EVENTS OCCURRING AFTER THE REPORTING PERIOD | 19. EVENTS OCCURRING AFTER THE REPORTING PERIOD Subsequent to March 31, 2024, 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) | 9 Months Ended |
Mar. 31, 2024 | |
ACCOUNTING STANDARDS AND BASIS OF PREPARATION | |
Basis of measurement | Basis of measurement The consolidated financial statements of the Group have been prepared using: ● ● |
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 In previous years, the Group presented the sum of revenues from contracts with customers, initial recognition and changes in fair value of biological assets at the point of harvest, and changes in the net realizable value of agricultural products after harvest in a caption “Total” to assist investors to understand the performance of the Group’s comprehensive income for each fiscal year. As of the current period, that caption has been removed from the consolidated statements of comprehensive income to be aligned with comparable companies of the industry. 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) | 9 Months Ended |
Mar. 31, 2024 | |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION | |
Schedule of cash and cash equivalents | 03/31/2024 06/30/2023 Cash at bank and on hand 16,361,199 48,129,194 16,361,199 48,129,194 |
Schedule of other financial assets | 03/31/2024 06/30/2023 Current Restricted short-term deposits — 212,703 US Treasury bills 4,497,915 9,163,298 Mutual funds 9,304,234 1,596,539 Other investments 2,650,934 1,162,480 16,453,083 12,135,020 03/31/2024 06/30/2023 Non-current Shares of Bioceres S.A. 444,410 444,635 Other investments 315 274 444,725 444,909 |
Schedule of trade receivables | 03/31/2024 06/30/2023 Current Trade debtors 217,411,575 160,269,233 Allowance for impairment of trade debtors (7,538,577) (7,425,604) Shareholders and other related parties (Note 15) 1,135,342 — Allowance for credit notes to be issued (3,955,767) (3,694,019) Trade debtors - Joint ventures and associates (Note 15) — 865,627 Deferred checks 4,132,745 7,991,237 211,185,318 158,006,474 |
Schedule of other receivables | 03/31/2024 06/30/2023 Current Taxes 6,044,470 6,113,764 Receivables for PP&E sales — 156,423 Shareholders and other related parties (Note 15) 3,214,782 3,792,429 Other receivables - Joint ventures and associates (Note 15) 8,289,497 6,104,219 Prepayments to suppliers 6,795,008 10,956,831 Reimbursements over exports — 10,558 Prepaid expenses and other receivables 4,919,413 1,302,221 Miscellaneous 1,423,792 388,553 30,686,962 28,824,998 03/31/2024 06/30/2023 Non-current Taxes 701,475 873,699 Reimbursements over exports 1,120,625 1,290,227 Loans receivables 230,000 230,000 Miscellaneous 22,138 152,315 2,074,238 2,546,241 |
Schedule of inventories | 03/31/2024 06/30/2023 Seeds 591,889 1,542,159 Resale products 69,256,987 58,544,931 Manufactured products 28,389,645 25,881,761 Goods in transit 1,643,982 3,620,606 Supplies 18,545,213 24,893,187 Agricultural products 13,481,807 28,436,830 Allowance for obsolescence (2,746,985) (2,492,499) 129,162,538 140,426,975 Net of agricultural products 115,680,731 111,990,145 |
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 (61,540) 3,790 231,523 106,605 994 281,372 Costs incurred during the period 1,391,813 774,400 — — 137,682 2,303,895 Decrease due to harvest/disposals — (160,709) (319,308) (165,662) (138,676) (784,355) Period ended March 31, 2024 1,330,273 617,481 — — — 1,947,754 Soybean Corn Wheat Barley Sunflower 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 275,070 289,648 191,481 159,996 56,176 972,371 Costs incurred during the period 986,505 721,294 389,282 126,293 83,651 2,307,025 Decrease due to harvest/disposals (158,356) (70,510) (625,176) (299,189) (139,827) (1,293,058) Period ended March 31, 2023 1,103,219 940,432 — — — 2,043,651 |
Schedule of property plant and equipment | 03/31/2024 06/30/2023 Gross carrying amount 103,993,253 93,634,779 Accumulated depreciation (29,429,662) (25,780,944) Net carrying amount 74,563,591 67,853,835 |
Schedule of property, plant and equipment net carrying amount | Net carrying Net carrying amount amount Class 03/31/2024 06/30/2023 Office equipment 267,480 263,892 Vehicles 1,989,973 2,032,853 Equipment and computer software 171,674 174,399 Fixtures and fittings 2,279,558 2,862,949 Machinery and equipment 13,106,958 14,463,756 Land and buildings 38,673,141 36,144,792 Buildings in progress 18,074,807 11,911,194 Total 74,563,591 67,853,835 |
Schedule of property, plant and equipment gross carrying amount | 1. Gross carrying amount as of March 31, 2024 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 56,301 — (2,938) 1,021,451 Vehicles 5,492,319 588,368 (63,744) (83,135) 5,933,808 Equipment and computer software 974,509 152,174 (1,664) (7,568) 1,117,451 Fixtures and fittings 7,663,899 11,085 — (4,060) 7,670,924 Machinery and equipment 23,513,047 572,889 (115,211) (76,764) 23,893,961 Land and buildings 43,111,723 3,228,807 — (59,679) 46,280,851 Buildings in progress (a) 11,911,194 6,367,797 — (204,184) 18,074,807 Total 93,634,779 10,977,421 (180,619) (438,328) 103,993,253 (a)- Includes capitalized financial costs of $100,809 corresponding to the period ended March 31, 2024. 3. Gross carrying amount as of March 31, 2023 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 32,165 — — 3,068 943,237 Vehicles 5,261,979 263,773 — (59,744) 2,180 5,468,188 Equipment and computer software 925,349 72,436 12,469 (61,603) 3,614 952,265 Fixtures and fittings 7,606,389 47,224 5,379 — 1,482 7,660,474 Machinery and equipment 13,017,830 1,547,046 7,047,496 (26,958) 2,243 21,587,657 Land and buildings 40,659,129 — 4,750,136 — 23,936 45,433,201 Buildings in progress (a) 3,142,774 5,297,301 1,285,092 — 61,249 9,786,416 Total 71,521,454 7,259,945 13,100,572 (148,305) 97,772 91,831,438 (a)- Includes capitalized financial costs of $ 59,604 corresponding to the period ended March 31, 2023. |
Schedule of property, plant and equipment accumulated depreciation | 2. Accumulated depreciation as of March 31, 2024 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 — 51,251 (1,476) 753,971 Vehicles 3,459,466 (54,731) 635,040 (95,940) 3,943,835 Equipment and computer software 800,110 (1,664) 152,719 (5,388) 945,777 Fixtures and fittings 4,800,950 — 592,248 (1,832) 5,391,366 Machinery and equipment 9,049,291 (43,955) 1,789,498 (7,831) 10,787,003 Land and buildings 6,966,931 — 702,518 (61,739) 7,607,710 Total 25,780,944 (100,350) 3,923,274 (174,206) 29,429,662 4. Accumulated depreciation as of March 31, 2023 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 — 48,541 693 687,700 Vehicles 2,596,905 (59,744) 717,554 1,990 3,256,705 Equipment and computer software 693,673 (44,309) 107,642 2,313 759,319 Fixtures and fittings 4,059,470 — 553,608 711 4,613,789 Machinery and equipment 7,205,870 (5,389) 2,091,363 7,407 9,299,251 Land and buildings 6,418,745 — 682,348 317 7,101,410 Total 21,613,129 (109,442) 4,201,056 13,431 25,718,174 |
Schedule of intangible assets | 03/31/2024 06/30/2023 Gross carrying amount 211,204,058 202,306,618 Accumulated amortization (36,750,183) (28,522,662) Net carrying amount 174,453,875 173,783,956 |
Schedule of net carrying amount of intangibles | Net carrying Net carrying amount amount Class 03/31/2024 (1) 06/30/2023 (1) Seed and integrated products HB4 soy and breeding program 33,806,586 31,679,681 Integrated seed products 2,658,346 2,841,008 Crop nutrition Microbiological products 51,728,746 49,508,801 Other intangible assets Trademarks and patents 56,737,786 59,760,753 Software 2,543,636 1,987,690 Customer loyalty 21,978,775 23,006,023 RG/RS/OX Wheat 5,000,000 5,000,000 Total 174,453,875 173,783,956 (1) Includes $34.2 million as of March 31, 2024 and $27.4 million as of June 30, 2023 of intangible assets not subject to amortization. |
Schedule of gross carrying amounts of intangibles | 1. Gross carrying amount as of March 31, 2024 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 3,409,547 — 38,367,972 Integrated seed products 3,219,808 — (48,447) 3,171,361 Crop nutrition Microbiological products 55,645,028 4,457,981 — 60,103,009 Other intangible assets Trademarks and patents 67,653,234 36,249 — 67,689,483 Software 5,582,411 1,050,149 (8,039) 6,624,521 Customer loyalty 30,247,712 — — 30,247,712 RG/RS/OX Wheat 5,000,000 — — 5,000,000 Total 202,306,618 8,953,926 (56,486) 211,204,058 3. Gross carrying amount as of March 31, 2023 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 2,499,931 — — 33,871,019 Integrated seed products 3,181,155 — — 32,667 3,213,822 Crop nutrition Microbiological products 8,855,421 5,979,853 39,613,280 3,064 54,451,618 Other intangible assets Trademarks and patents 12,183,045 61,803 55,420,441 — 67,665,289 Software 5,176,373 136,400 — 12,488 5,325,261 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 8,677,987 96,818,958 48,219 199,774,721 |
Schedule of accumulated amortization of intangibles | 2. Accumulated amortization as of March 31, 2024 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 1,282,642 — 4,561,386 Integrated seed products 378,800 139,914 (5,699) 513,015 Crop nutrition Microbiological products 6,136,227 2,238,036 — 8,374,263 Other intangible assets Trademarks and patents 7,892,481 3,059,216 — 10,951,697 Software 3,594,721 488,422 (2,258) 4,080,885 Customer loyalty 7,241,689 1,027,248 — 8,268,937 Total 28,522,662 8,235,478 (7,957) 36,750,183 4. Accumulated amortization as of March 31, 2023 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 1,270,163 — 2,838,717 Integrated seed products 43,997 34,439 1,921 80,357 Crop nutrition Microbiological products 3,063,073 3,218,529 — 6,281,602 Other intangible assets Trademarks and patents 3,916,004 67,578 — 3,983,582 Software 3,008,388 999,286 1,212 4,008,886 Customer loyalty 5,924,672 2,368,610 — 8,293,282 Total 17,524,688 7,958,605 3,133 25,486,426 |
Schedule of carrying amount of goodwill | 03/31/2024 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 |
Schedule of investment properties | 03/31/2024 06/30/2023 Investment properties 560,783 3,589,749 560,783 3,589,749 |
Schedule of trade and other payable | 03/31/2024 06/30/2023 Trade creditors 100,566,790 104,211,238 Shareholders and other related parties (Note 15) 90,765 35,292 Trade creditors - Parent company (Note 15) 206,962 644,191 Trade creditors - Joint ventures and associates (Note 15) 60,463,450 41,402,594 Taxes 5,192,702 3,561,058 Miscellaneous 99,056 953,301 166,619,725 150,807,674 |
Schedule of borrowings | 03/31/2024 06/30/2023 Current Bank borrowings 90,932,210 61,303,952 Corporate bonds 45,010,123 35,547,510 Trust debt securities 2,953,319 7,296,506 Net loans payables- Parents companies and related parties to Parent (Note 15) 3,713,056 3,491,691 142,608,708 107,639,659 Non-current Bank borrowings 13,840,284 10,663,266 Corporate bonds 5,071,823 50,007,680 Trust debt securities 1,562,898 — 20,475,005 60,670,946 |
Schedule of carrying value of borrowings | 03/31/2024 06/30/2023 Amortized cost Fair value Amortized cost Fair value Current Bank borrowings 90,932,210 89,596,837 61,303,952 57,209,155 Corporate Bonds 45,010,123 44,268,325 35,547,510 34,725,828 Non-current Bank borrowings 13,840,284 13,010,039 10,663,266 10,374,646 Corporate Bonds 5,071,823 4,871,622 50,007,680 47,014,542 |
Schedule of employee benefits and social security | 03/31/2024 06/30/2023 Salaries, accrued incentives, vacations and social security 7,731,620 9,388,639 Key management personnel (Note 15) 83,918 218,068 7,815,538 9,606,707 |
Schedule of deferred revenue and advances from customers | 03/31/2024 06/30/2023 Current Advances from customers 4,096,466 9,216,032 Deferred revenue 1,443,431 15,659,630 5,539,897 24,875,662 Non-current Advances from customers 110,285 620,893 Deferred revenue 2,669,410 1,436,912 2,779,695 2,057,805 |
INFORMATION ABOUT COMPONENTS _4
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Tables) | 9 Months Ended |
Mar. 31, 2024 | |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |
Schedule of revenue from contracts with customers | 03/31/2024 03/31/2023 Sale of goods and services 324,017,247 281,274,372 Royalties 838,516 198,630 Right of use licenses 15,659,630 32,903,458 340,515,393 314,376,460 |
Schedule of cost of sales | Item 03/31/2024 03/31/2023 Inventories as of the beginning of the period 111,990,145 78,759,610 Business combination — 11,064,908 Purchases of the period 186,878,728 173,983,461 Production costs 18,690,702 20,705,305 Foreign currency translation (214,790) (59,173) Subtotal 317,344,785 284,454,111 Inventories as of the end of the period (*) (115,680,731) (113,499,215) Cost of sales 201,664,054 170,954,896 (*) |
Schedule of R&D classified by nature | Research and Research and development development expenses expenses Item 03/31/2024 03/31/2023 Amortization of intangible assets 3,669,870 3,407,314 Analysis and storage 5,302 34,135 Import and export expenses — 850 Depreciation of property, plant and equipment 466,453 433,289 Freight and haulage 23,924 9,080 Employee benefits and social securities 3,847,298 3,515,918 Maintenance 220,228 430,497 Energy and fuel 8,337 104,181 Supplies and materials 1,418,048 1,678,527 Mobility and travel 157,561 211,183 Share-based incentives 394,997 122,222 Publicity and advertising — 20,589 Professional fees and outsourced services 848,716 746,611 Professional fees related parties 163,008 237,864 Office supplies 527,956 79,459 Information technology expenses 26,716 38,436 Insurance 35,690 62,884 Depreciation of leased assets — 46,772 Miscellaneous 315 23,982 Total 11,814,419 11,203,793 R&D capitalized (Note 5.8) 7,867,528 8,479,784 R&D profit and loss 11,814,419 11,203,793 Total 19,681,947 19,683,577 |
Schedule of expenses classified by nature and function | Selling, general and Production administrative Total Item costs expenses 03/31/2024 Amortization of intangible assets 111,190 4,454,418 4,565,608 Analysis and storage 570 156,402 156,972 Commissions and royalties 419,089 1,342,811 1,761,900 Import and export expenses 56,789 502,588 559,377 Depreciation of property, plant and equipment 2,014,248 1,442,573 3,456,821 Depreciation of leased assets 1,003,866 1,522,308 2,526,174 Impairment of receivables — 463,688 463,688 Freight and haulage 1,006,879 9,326,846 10,333,725 Employee benefits and social securities 8,057,497 29,437,292 37,494,789 Maintenance 1,565,609 1,665,461 3,231,070 Energy and fuel 671,376 363,024 1,034,400 Supplies and materials 714,346 2,398,596 3,112,942 Mobility and travel 126,559 3,216,650 3,343,209 Publicity and advertising 1,735 3,434,408 3,436,143 Contingencies 43,598 318,650 362,248 Share-based incentives 445,153 10,641,213 11,086,366 Professional fees and outsourced services 1,496,057 6,257,187 7,753,244 Professional fees related parties — 134,366 134,366 Office supplies and registrations fees 139,983 927,625 1,067,608 Insurance 158,218 1,602,483 1,760,701 Information technology expenses 31,175 2,821,390 2,852,565 Obsolescence 335,763 — 335,763 Taxes 288,287 9,611,667 9,899,954 Miscellaneous 2,715 145,380 148,095 Total 18,690,702 92,187,026 110,877,728 Selling, general and Production administrative Total Item costs expenses 03/31/2023 Amortization of intangible assets 130,260 4,421,031 4,551,291 Analysis and storage 5,173 334,532 339,705 Commissions and royalties 122,275 1,304,013 1,426,288 Import and export expenses 188,051 510,368 698,419 Depreciation of property, plant and equipment 2,274,040 1,493,727 3,767,767 Depreciation of leased assets 320,024 2,449,547 2,769,571 Impairment of receivables — 510,243 510,243 Freight and haulage 1,861,657 7,831,593 9,693,250 Employee benefits and social securities 9,428,993 27,655,561 37,084,554 Maintenance 1,100,483 1,408,342 2,508,825 Energy and fuel 998,752 269,725 1,268,477 Supplies and materials 791,071 794,865 1,585,936 Mobility and travel 95,638 3,147,898 3,243,536 Publicity and advertising 2,528 4,510,067 4,512,595 Contingencies — 61,948 61,948 Share-based incentives 73,165 2,484,831 2,557,996 Professional fees and outsourced services 2,100,245 10,217,378 12,317,623 Professional fees related parties — 53,501 53,501 Office supplies and registrations fees 54,041 999,428 1,053,469 Insurance 130,800 2,310,796 2,441,596 Information technology expenses 20,550 2,322,092 2,342,642 Obsolescence 814,026 — 814,026 Taxes 193,533 8,710,646 8,904,179 Miscellaneous — 504,011 504,011 Total 20,705,305 84,306,143 105,011,448 |
Schedule of other income or expenses, net | 03/31/2024 03/31/2023 Net result from commercialization of agricultural products (2,718,633) 698,517 Expenses recovery 319,843 482,034 Other income or expenses, net 159,498 602,312 (2,239,292) 1,782,863 |
Schedule of net financial cost | 03/31/2024 03/31/2023 Financial costs Interest expenses with the Parents (Note 15) (255,816) (426,667) Interest expenses (16,656,789) (15,578,825) Financial commissions (1,800,597) (2,022,431) (18,713,202) (18,027,923) Other financial results Exchange differences generated by assets (17,368,288) (16,859,096) Exchange differences generated by liabilities 25,808,288 11,615,309 Changes in fair value of financial assets or liabilities and other financial results (9,928,530) (2,926,589) Net gain of inflation effect on monetary items 1,008,343 591,976 (480,187) (7,578,400) |
TAXATION (Tables)
TAXATION (Tables) | 9 Months Ended |
Mar. 31, 2024 | |
TAXATION | |
Schedule of current tax | 03/31/2024 03/31/2023 Current tax expense (7,016,611) (1,452,477) Deferred tax (789,984) 944,555 Total (7,806,595) (507,922) |
Schedule of net deferred tax | 03/31/2024 03/31/2023 Beginning of the period deferred tax (28,472,383) (24,994,569) Additions for business combination — (16,704,771) Charge for the period (789,984) 944,555 Conversion difference (468,228) (810,767) Total net deferred tax (29,730,595) (41,565,552) |
Schedule of reconciliation of the statutory tax rate to the effective tax rate | 03/31/2024 03/31/2023 Earning before income tax-rate 16,143,941 23,472,162 Income tax expense by applying tax rate in force in the respective countries (4,121,315) (1,139,677) Share of profit of subsidiaries, joint ventures and associates 1,503,115 202,534 Stock options charge (2,257,743) (434,439) Non-deductible expenses (397,162) (180,850) Unrecognized deferred tax — (8,024) Tax inflation adjustment 8,722,532 5,587,101 Result of inflation effect on monetary items and other finance results (11,256,022) (4,367,390) Other tax benefit — 183,917 Others — (351,094) Income tax expenses (7,806,595) (507,922) |
Schedule of income tax expense calculated by applying the tax rate in force | Weight average Earnings before applicable tax Income tax as of Tax jurisdiction income tax-rate rate March 31, 2024 Low or null taxation jurisdictions 9,509,610 0.0 % — Profit-making entities 31,083,400 34.0 % 10,583,572 Loss-making entities (24,449,069) 26.4 % (6,462,257) 16,143,941 4,121,315 Weight average Earnings before applicable tax Income tax as of Tax jurisdiction income tax-rate rate March 31, 2023 Low or null taxation jurisdictions 24,291,640 0.0 % — Profit-making entities 14,398,735 31.0 % 4,464,256 Loss-making entities (15,218,213) 21.8 % (3,324,580) 23,472,162 1,139,677 |
EARNING PER SHARE (Tables)
EARNING PER SHARE (Tables) | 9 Months Ended |
Mar. 31, 2024 | |
EARNING PER SHARE | |
Schedule of earnings per share | Three-month period ended Nine-month period ended 03/31/2024 03/31/2023 03/31/2024 03/31/2023 Numerator Profit for the period (basic EPS) 9,257,226 28,145,878 4,774,041 20,487,429 Profit for the period (diluted EPS) 9,257,226 28,145,878 4,774,041 20,487,429 Denominator Weighted average number of shares (basic EPS) 62,837,668 62,002,011 62,837,668 62,002,011 Weighted average number of shares (diluted EPS) 66,761,225 63,079,523 66,761,225 63,079,523 Basic profit attributable to ordinary equity holders of the parent 0.1473 0.4540 0.0760 0.3304 Diluted profit attributable to ordinary equity holders of the parent 0.1387 0.4462 0.0715 0.3248 |
CASH FLOW INFORMATION (Tables)
CASH FLOW INFORMATION (Tables) | 9 Months Ended |
Mar. 31, 2024 | |
CASH FLOW INFORMATION | |
Schedule of significant non-cash transactions related to investing and financing activities | 03/31/2024 03/31/2023 Investment activities Net assets acquisition by business combination — 152,070,313 Investment in-kind in other related parties (Note 15) 2,115,109 1,429,089 Capitalization of interest on buildings in progress 100,809 59,604 Reclassification from investment properties to property, plant and equipment 3,103,169 — Sale of Moolec Science S.A. equity investment (Note 11) (900,000) — 4,419,087 153,559,006 03/31/2024 03/31/2023 Financing activities Capitalization of convertible notes (Note 5.13) — 12,211,638 Purchase of own shares — (24,025,718) — (11,814,080) |
JOINT VENTURES AND ASSOCIATES (
JOINT VENTURES AND ASSOCIATES (Tables) | 9 Months Ended |
Mar. 31, 2024 | |
JOINT VENTURES AND ASSOCIATES | |
Schedule of investments in joint ventures and associates | 03/31/2024 06/30/2023 Assets Synertech Industrias S.A. 39,942,506 36,026,710 Trigall Genetics S.A. 8,534 — Alfalfa Technologies S.R.L. 36,503 36,502 Moolec Science S.A. 2,318,778 3,233,598 42,306,321 39,296,810 03/31/2024 06/30/2023 Liabilities Trigall Genetics S.A. — 622,823 — 622,823 |
Schedule of changes in joint ventures | 03/31/2024 03/31/2023 As of the beginning of the period 38,673,987 37,836,144 Share-based incentives 65,470 3,825 Sale of equity investment - Indrasa Biotecnología S.A. — (13,433) Sale of equity investment - Moolec Science S.A. (900,000) — Foreign currency translation (239) (122,238) Share of profit or loss 4,467,103 1,260,433 As of the end of the period 42,306,321 38,964,731 |
Schedule of share of profit or loss of joint ventures and associates | 03/31/2024 03/31/2023 Trigall Genetics S.A. 631,357 496,934 Synertech Industrias S.A. 3,915,797 337,543 Moolec Science S.A. (80,051) 482,989 Indrasa Biotecnología S.A. — (57,033) 4,467,103 1,260,433 |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 9 Months Ended |
Mar. 31, 2024 | |
SEGMENT INFORMATION | |
Schedule of operating results group's reporting segments | Seed and integrated Crop Crop Period ended March 31, 2024 products protection nutrition Consolidated Revenues from contracts with customers Sale of goods and services 61,996,719 173,971,462 103,708,696 339,676,877 Royalties 838,516 — — 838,516 Others Initial recognition and changes in the fair value of biological assets at the point of harvest 281,372 — — 281,372 Total 63,116,607 173,971,462 103,708,696 340,796,765 Cost of sales (42,331,794) (110,242,995) (49,089,265) (201,664,054) Gross profit per segment 20,784,813 63,728,467 54,619,431 139,132,711 % Gross margin 33 % 37 % 53 % 41 % Seed and integrated Crop Crop Period ended March 31, 2023 products protection nutrition Consolidated Revenues from contracts with customers Sale of goods and services 35,747,136 160,300,954 118,129,740 314,177,830 Royalties 198,630 — — 198,630 Others Initial recognition and changes in the fair value of biological assets at the point of harvest 145,985 448,227 378,159 972,371 Total 36,091,751 160,749,181 118,507,899 315,348,831 Cost of sales (15,876,212) (106,523,851) (48,554,833) (170,954,896) Gross profit per segment 20,215,539 54,225,330 69,953,066 144,393,935 % Gross margin 56 % 34 % 59 % 46 % |
FINANCIAL INSTRUMENTS - RISK _2
FINANCIAL INSTRUMENTS - RISK MANAGEMENT (Tables) | 9 Months Ended |
Mar. 31, 2024 | |
FINANCIAL INSTRUMENTS - RISK MANAGEMENT | |
Schedule of financial assets by category | Mandatorily measured at fair Amortized cost value through profit or loss Financial asset 03/31/2024 06/30/2023 03/31/2024 06/30/2023 Cash and cash equivalents 16,361,199 48,129,194 — — Other financial assets 444,725 657,612 16,453,083 11,922,317 Trade receivables 211,185,318 158,006,474 — — Other receivables (*) 14,300,834 12,124,724 — — Total 242,292,076 218,918,004 16,453,083 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 03/31/2024 06/30/2023 03/31/2024 06/30/2023 Trade and other payables 161,473,722 142,582,166 5,146,003 8,225,508 Borrowings 163,083,713 168,310,605 — — Secured notes 79,722,978 75,213,146 — — Lease liability 12,271,838 13,889,223 — — Consideration for acquisition of assets 5,614,003 4,993,256 — — Total 422,166,254 404,988,396 5,146,003 8,225,508 |
Schedule of fair value by hierarchy | Measurement at fair value at 03/31/2024 Level 1 Level 2 Level 3 Financial assets at fair value US Treasury bills 4,497,915 — — Mutual funds 9,304,234 — — Other investments 2,650,934 — — Financial liability at fair value Trade and other payables — 5,146,003 — 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 03/31/2024 Amount expressed in US$ (16,326,836) |
LEASES (Tables)
LEASES (Tables) | 9 Months Ended |
Mar. 31, 2024 | |
LEASES | |
Schedule of right of use leased assets and lease liability from beginning of year to end of year | Right-of-use leased asset 03/31/2024 06/30/2023 Book value at the beginning of the period/year 21,163,192 15,828,032 Additions of the period/year 2,146,418 3,154,950 Additions from business combination — 3,005,000 Disposals (1,375,665) (1,839,921) Exchange differences (426,105) 1,015,131 Book value at the end of the period/year 21,507,840 21,163,192 Depreciation 03/31/2024 06/30/2023 Book value at the beginning of the period/year 7,226,617 3,684,006 Depreciation of the period/year 2,526,174 3,565,894 Disposals (921,505) (171,870) Exchange differences (12,395) 148,587 Accumulated depreciation at the end of the period/year 8,818,891 7,226,617 Total 12,688,949 13,936,575 Lease liability 03/31/2024 06/30/2023 Book value at the beginning of the period/year 13,889,223 11,751,284 Additions of the period/year 2,146,418 3,154,950 Additions from business combination — 3,245,000 Interest expenses, exchange differences and inflation effects 175,968 (406,494) Payments of the period/year (3,939,771) (3,855,517) Total 12,271,838 13,889,223 Lease Liabilities 03/31/2024 06/30/2023 Non-current 8,791,543 10,030,524 Current 3,480,295 3,858,699 Total 12,271,838 13,889,223 |
Schedule of right-of-use leased assets | 03/31/2024 06/30/2023 Machinery and equipment 3,655,741 3,655,741 Vehicles 1,372,597 1,475,581 Equipment and computer software 1,036,258 903,306 Land and buildings 15,443,244 15,128,564 21,507,840 21,163,192 |
SHAREHOLDERS AND OTHER RELATE_2
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS (Tables) | 9 Months Ended |
Mar. 31, 2024 | |
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 03/31/2024 03/31/2023 Joint ventures and associates Sales and services 19,404,971 24,927,813 Joint ventures and associates Purchases of goods and services (20,951,684) (48,561,129) Key management personnel Salaries, social security benefits and other benefits (4,425,476) (3,963,332) Key management personnel Sales and services — 572,136 Shareholders and other related parties Sales of goods and services 7,156,388 597,950 Shareholders and other related parties Purchases of goods and services (1,401,698) (2,239,972) Shareholders and other related parties In-kind contributions 2,115,109 1,429,089 Shareholders and other related parties Interest expenses — 19,513 Parent company and related parties to Parent (Note 6.6) Interest expenses (255,816) (426,667) Total 1,641,794 (27,644,599) Amounts receivable from related parties Party Transaction type 03/31/2024 06/30/2023 Shareholders and other related parties Trade debtors 1,135,342 — Shareholders and other related parties Other receivables 3,214,782 3,792,429 Joint ventures and associates Trade debtors — 865,627 Joint ventures and associates Other receivables 8,519,497 6,334,219 Total 12,869,621 10,992,275 Amounts payable to related parties Party Transaction type 03/31/2024 06/30/2023 Parent company and related parties to Parent Trade creditors (206,962) (644,191) Parent company and related parties to Parent Net loans payables (3,713,056) (3,491,691) Key management personnel Salaries, social security benefits and other benefits (83,918) (218,068) Shareholders and other related parties Trade and other payables (90,765) (35,292) Joint ventures and associates Trade creditors (60,463,450) (41,402,594) Total (64,558,151) (45,791,836) |
KEY MANAGEMENT PERSONNEL COMP_2
KEY MANAGEMENT PERSONNEL COMPENSATION (Tables) | 9 Months Ended |
Mar. 31, 2024 | |
KEY MANAGEMENT PERSONNEL COMPENSATION | |
Schedule of compensation of directors and other members of key management personnel | 03/31/2024 03/31/2023 Salaries, social security and other benefits 1,472,483 1,283,114 Share-based incentives 2,952,993 2,680,218 Total 4,425,476 3,963,332 |
GENERAL INFORMATION - (Details)
GENERAL INFORMATION - (Details) | Mar. 31, 2024 country |
Business information | |
Number of countries where Group's agricultural inputs are marketed | 45 |
SEASONALITY (Details)
SEASONALITY (Details) | Mar. 31, 2024 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 ($) | Mar. 31, 2024 | Jun. 30, 2023 |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION | ||
Cash at bank and on hand | $ 16,361,199 | $ 48,129,194 |
Cash and cash equivalents | $ 16,361,199 | $ 48,129,194 |
INFORMATION ABOUT COMPONENTS _6
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Other financial assets (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Current | ||
Restricted short-term deposits | $ 212,703 | |
US Treasury bills | $ 4,497,915 | 9,163,298 |
Mutual funds | 9,304,234 | 1,596,539 |
Other investments | 2,650,934 | 1,162,480 |
Other financial assets | 16,453,083 | 12,135,020 |
Non-current | ||
Shares of Bioceres S.A. | 444,410 | 444,635 |
Other investments | 315 | 274 |
Other financial assets | $ 444,725 | $ 444,909 |
INFORMATION ABOUT COMPONENTS _7
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Trade receivables (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Components of Consolidated Statement of Financial Position | ||
Trade debtors | $ 217,411,575 | $ 160,269,233 |
Allowance for impairment of trade debtors | (7,538,577) | (7,425,604) |
Allowance for credit notes to be issued | (3,955,767) | (3,694,019) |
Deferred checks | 4,132,745 | 7,991,237 |
Trade receivables | 211,185,318 | 158,006,474 |
Shareholders and other related parties | ||
Components of Consolidated Statement of Financial Position | ||
Shareholders and other related parties (Note 15) | $ 1,135,342 | |
Joint ventures and associates | ||
Components of Consolidated Statement of Financial Position | ||
Trade debtors | $ 865,627 |
INFORMATION ABOUT COMPONENTS _8
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Other receivables (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Current | ||
Taxes | $ 6,044,470 | $ 6,113,764 |
Prepayments to suppliers | 6,795,008 | 10,956,831 |
Reimbursements over exports | 10,558 | |
Prepaid expenses and other receivables | 4,919,413 | 1,302,221 |
Miscellaneous | 1,423,792 | 388,553 |
Other receivables | 30,686,962 | 28,824,998 |
Non-current | ||
Taxes | 701,475 | 873,699 |
Reimbursements over exports | 1,120,625 | 1,290,227 |
Loan receivables | 230,000 | 230,000 |
Miscellaneous | 22,138 | 152,315 |
Other receivables | 2,074,238 | 2,546,241 |
Receivables for PP&E sales | ||
Current | ||
Other receivables | 156,423 | |
Shareholders and other related parties | ||
Current | ||
Other receivables | 3,214,782 | 3,792,429 |
Joint ventures and associates | ||
Current | ||
Other receivables | $ 8,289,497 | $ 6,104,219 |
INFORMATION ABOUT COMPONENTS _9
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Inventories (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Inventory | ||
Goods in transit | $ 1,643,982 | $ 3,620,606 |
Supplies | 18,545,213 | 24,893,187 |
Agricultural products | 13,481,807 | 28,436,830 |
Inventories | 129,162,538 | 140,426,975 |
Net of agricultural products | 115,680,731 | 111,990,145 |
Seeds | ||
Inventory | ||
Inventories | 591,889 | 1,542,159 |
Resale products | ||
Inventory | ||
Inventories | 69,256,987 | 58,544,931 |
Manufactured products | ||
Inventory | ||
Inventories | 28,389,645 | 25,881,761 |
Allowance for obsolescence | ||
Inventory | ||
Inventories | $ (2,746,985) | $ (2,492,499) |
INFORMATION ABOUT COMPONENTS_10
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Biological assets (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
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 | $ (56,756) | $ 620,894 | 281,372 | 972,371 |
Cost incurred during the period | 2,303,895 | 2,307,025 | ||
Decrease due to harvest/disposals | (784,355) | (1,293,058) | ||
End of period | 1,947,754 | 2,043,651 | 1,947,754 | 2,043,651 |
Soybean | ||||
Biological assets | ||||
Beginning of the period | 0 | 0 | ||
Initial recognition and changes in the fair value of biological assets at the point of harvest | (61,540) | 275,070 | ||
Cost incurred during the period | 1,391,813 | 986,505 | ||
Decrease due to harvest/disposals | (158,356) | |||
End of period | 1,330,273 | 1,103,219 | 1,330,273 | 1,103,219 |
Corn | ||||
Biological assets | ||||
Beginning of the period | 0 | 0 | ||
Initial recognition and changes in the fair value of biological assets at the point of harvest | 3,790 | 289,648 | ||
Cost incurred during the period | 774,400 | 721,294 | ||
Decrease due to harvest/disposals | (160,709) | (70,510) | ||
End of period | $ 617,481 | $ 940,432 | 617,481 | 940,432 |
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 | 231,523 | 191,481 | ||
Cost incurred during the period | 389,282 | |||
Decrease due to harvest/disposals | (319,308) | (625,176) | ||
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 | 106,605 | 159,996 | ||
Cost incurred during the period | 126,293 | |||
Decrease due to harvest/disposals | (165,662) | (299,189) | ||
Sunflower | ||||
Biological assets | ||||
Beginning of the period | 0 | 0 | ||
Initial recognition and changes in the fair value of biological assets at the point of harvest | 994 | 56,176 | ||
Cost incurred during the period | 137,682 | 83,651 | ||
Decrease due to harvest/disposals | $ (138,676) | $ (139,827) |
INFORMATION ABOUT COMPONENTS_11
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Property, plant and equipment (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 |
Property, plant and equipment | ||||
Property, plant and equipment | $ 74,563,591 | $ 67,853,835 | ||
Gross carrying amount | ||||
Property, plant and equipment | ||||
Property, plant and equipment | 103,993,253 | 93,634,779 | $ 91,831,438 | $ 71,521,454 |
Accumulated depreciation | ||||
Property, plant and equipment | ||||
Property, plant and equipment | $ (29,429,662) | $ (25,780,944) | $ (25,718,174) | $ (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 ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Property, plant and equipment | ||
Property, plant and equipment | $ 74,563,591 | $ 67,853,835 |
Office equipment | ||
Property, plant and equipment | ||
Property, plant and equipment | 267,480 | 263,892 |
Vehicles | ||
Property, plant and equipment | ||
Property, plant and equipment | 1,989,973 | 2,032,853 |
Equipment and computer software | ||
Property, plant and equipment | ||
Property, plant and equipment | 171,674 | 174,399 |
Fixture and fittings | ||
Property, plant and equipment | ||
Property, plant and equipment | 2,279,558 | 2,862,949 |
Machinery and equipment | ||
Property, plant and equipment | ||
Property, plant and equipment | 13,106,958 | 14,463,756 |
Land and buildings | ||
Property, plant and equipment | ||
Property, plant and equipment | 38,673,141 | 36,144,792 |
Buildings in progress | ||
Property, plant and equipment | ||
Property, plant and equipment | $ 18,074,807 | $ 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 ($) | 9 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
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 | 74,563,591 | |
Capitalized financial costs | 100,809 | 59,604 |
Office equipment | ||
Property, plant and equipment | ||
As of the beginning of period | 263,892 | |
As of the end of period | 267,480 | |
Vehicles | ||
Property, plant and equipment | ||
As of the beginning of period | 2,032,853 | |
As of the end of period | 1,989,973 | |
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 | 171,674 | |
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 | 2,279,558 | |
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 | 13,106,958 | |
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 | 38,673,141 | |
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 | 18,074,807 | |
Gross carrying amount | ||
Property, plant and equipment | ||
As of the beginning of period | 93,634,779 | 71,521,454 |
Additions | 10,977,421 | 7,259,945 |
Disposals | (180,619) | (148,305) |
Foreign currency translation | (438,328) | 97,772 |
As of the end of period | 103,993,253 | 91,831,438 |
Gross carrying amount | Office equipment | ||
Property, plant and equipment | ||
As of the beginning of period | 968,088 | 908,004 |
Additions | 56,301 | 32,165 |
Foreign currency translation | (2,938) | 3,068 |
As of the end of period | 1,021,451 | 943,237 |
Gross carrying amount | Vehicles | ||
Property, plant and equipment | ||
As of the beginning of period | 5,492,319 | 5,261,979 |
Additions | 588,368 | 263,773 |
Disposals | (63,744) | (59,744) |
Foreign currency translation | (83,135) | 2,180 |
As of the end of period | 5,933,808 | 5,468,188 |
Gross carrying amount | Equipment and computer software | ||
Property, plant and equipment | ||
As of the beginning of period | 974,509 | 925,349 |
Additions | 152,174 | 72,436 |
Disposals | (1,664) | (61,603) |
Foreign currency translation | (7,568) | 3,614 |
As of the end of period | 1,117,451 | 952,265 |
Gross carrying amount | Fixture and fittings | ||
Property, plant and equipment | ||
As of the beginning of period | 7,663,899 | 7,606,389 |
Additions | 11,085 | 47,224 |
Foreign currency translation | (4,060) | 1,482 |
As of the end of period | 7,670,924 | 7,660,474 |
Gross carrying amount | Machinery and equipment | ||
Property, plant and equipment | ||
As of the beginning of period | 23,513,047 | 13,017,830 |
Additions | 572,889 | 1,547,046 |
Disposals | (115,211) | (26,958) |
Foreign currency translation | (76,764) | 2,243 |
As of the end of period | 23,893,961 | 21,587,657 |
Gross carrying amount | Land and buildings | ||
Property, plant and equipment | ||
As of the beginning of period | 43,111,723 | 40,659,129 |
Additions | 3,228,807 | |
Foreign currency translation | (59,679) | 23,936 |
As of the end of period | 46,280,851 | 45,433,201 |
Gross carrying amount | Buildings in progress | ||
Property, plant and equipment | ||
As of the beginning of period | 11,911,194 | 3,142,774 |
Additions | 6,367,797 | 5,297,301 |
Foreign currency translation | (204,184) | 61,249 |
As of the end of period | $ 18,074,807 | $ 9,786,416 |
INFORMATION ABOUT COMPONENTS_14
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Property, plant and equipment - accumulated depreciation (Details) - USD ($) | 9 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Property, plant and equipment | ||
As of the beginning of period | $ (67,853,835) | |
As of the end of period | (74,563,591) | |
Office equipment | ||
Property, plant and equipment | ||
As of the beginning of period | (263,892) | |
As of the end of period | (267,480) | |
Vehicles | ||
Property, plant and equipment | ||
As of the beginning of period | (2,032,853) | |
As of the end of period | (1,989,973) | |
Equipment and computer software | ||
Property, plant and equipment | ||
As of the beginning of period | (174,399) | |
As of the end of period | (171,674) | |
Fixture and fittings | ||
Property, plant and equipment | ||
As of the beginning of period | (2,862,949) | |
As of the end of period | (2,279,558) | |
Machinery and equipment | ||
Property, plant and equipment | ||
As of the beginning of period | (14,463,756) | |
As of the end of period | (13,106,958) | |
Land and buildings | ||
Property, plant and equipment | ||
As of the beginning of period | (36,144,792) | |
As of the end of period | (38,673,141) | |
Accumulated depreciation | ||
Property, plant and equipment | ||
As of the beginning of period | 25,780,944 | $ 21,613,129 |
Disposals | (100,350) | (109,442) |
Depreciation of the period | 3,923,274 | 4,201,056 |
Foreign currency translation | (174,206) | 13,431 |
As of the end of period | 29,429,662 | 25,718,174 |
Accumulated depreciation | Office equipment | ||
Property, plant and equipment | ||
As of the beginning of period | 704,196 | 638,466 |
Depreciation of the period | 51,251 | 48,541 |
Foreign currency translation | (1,476) | 693 |
As of the end of period | 753,971 | 687,700 |
Accumulated depreciation | Vehicles | ||
Property, plant and equipment | ||
As of the beginning of period | 3,459,466 | 2,596,905 |
Disposals | (54,731) | (59,744) |
Depreciation of the period | 635,040 | 717,554 |
Foreign currency translation | (95,940) | 1,990 |
As of the end of period | 3,943,835 | 3,256,705 |
Accumulated depreciation | Equipment and computer software | ||
Property, plant and equipment | ||
As of the beginning of period | 800,110 | 693,673 |
Disposals | (1,664) | (44,309) |
Depreciation of the period | 152,719 | 107,642 |
Foreign currency translation | (5,388) | 2,313 |
As of the end of period | 945,777 | 759,319 |
Accumulated depreciation | Fixture and fittings | ||
Property, plant and equipment | ||
As of the beginning of period | 4,800,950 | 4,059,470 |
Depreciation of the period | 592,248 | 553,608 |
Foreign currency translation | (1,832) | 711 |
As of the end of period | 5,391,366 | 4,613,789 |
Accumulated depreciation | Machinery and equipment | ||
Property, plant and equipment | ||
As of the beginning of period | 9,049,291 | 7,205,870 |
Disposals | (43,955) | (5,389) |
Depreciation of the period | 1,789,498 | 2,091,363 |
Foreign currency translation | (7,831) | 7,407 |
As of the end of period | 10,787,003 | 9,299,251 |
Accumulated depreciation | Land and buildings | ||
Property, plant and equipment | ||
As of the beginning of period | 6,966,931 | 6,418,745 |
Depreciation of the period | 702,518 | 682,348 |
Foreign currency translation | (61,739) | 317 |
As of the end of period | $ 7,607,710 | $ 7,101,410 |
INFORMATION ABOUT COMPONENTS_15
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Intangible assets (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 |
Intangible assets | ||||
Intangible assets | $ 174,453,875 | $ 173,783,956 | ||
Gross carrying amount | ||||
Intangible assets | ||||
Intangible assets | 211,204,058 | 202,306,618 | $ 199,774,721 | $ 94,229,557 |
Accumulated depreciation | ||||
Intangible assets | ||||
Intangible assets | $ (36,750,183) | $ (28,522,662) | $ (25,486,426) | $ (17,524,688) |
INFORMATION ABOUT COMPONENTS_16
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Intangible assets, net carrying amount (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Intangible assets | ||
Intangible assets | $ 174,453,875 | $ 173,783,956 |
Intangible assets not subject to amortization | 34,200,000 | 27,400,000 |
HB4 and breeding program | ||
Intangible assets | ||
Intangible assets | 33,806,586 | 31,679,681 |
Integrated seed products | ||
Intangible assets | ||
Intangible assets | 2,658,346 | 2,841,008 |
Microbiology product | ||
Intangible assets | ||
Intangible assets | 51,728,746 | 49,508,801 |
Trademarks and patents | ||
Intangible assets | ||
Intangible assets | 56,737,786 | 59,760,753 |
Software | ||
Intangible assets | ||
Intangible assets | 2,543,636 | 1,987,690 |
Customer loyalty | ||
Intangible assets | ||
Intangible assets | 21,978,775 | 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 ($) | 9 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Intangible assets | ||
Balance at beginning of the period | $ 173,783,956 | |
Balance at end of the period | 174,453,875 | |
Gross carrying amount | ||
Intangible assets | ||
Balance at beginning of the period | 202,306,618 | $ 94,229,557 |
Additions | 8,953,926 | 8,677,987 |
Additions from business combination | 96,818,958 | |
Foreign currency translation | (56,486) | 48,219 |
Balance at end of the period | 211,204,058 | 199,774,721 |
HB4 and breeding program | ||
Intangible assets | ||
Balance at beginning of the period | 31,679,681 | |
Balance at end of the period | 33,806,586 | |
HB4 and breeding program | Gross carrying amount | ||
Intangible assets | ||
Balance at beginning of the period | 34,958,425 | 31,371,088 |
Additions | 3,409,547 | 2,499,931 |
Balance at end of the period | 38,367,972 | 33,871,019 |
Integrated seed products | ||
Intangible assets | ||
Balance at beginning of the period | 2,841,008 | |
Balance at end of the period | 2,658,346 | |
Integrated seed products | Gross carrying amount | ||
Intangible assets | ||
Balance at beginning of the period | 3,219,808 | 3,181,155 |
Foreign currency translation | (48,447) | 32,667 |
Balance at end of the period | 3,171,361 | 3,213,822 |
Microbiology product | ||
Intangible assets | ||
Balance at beginning of the period | 49,508,801 | |
Balance at end of the period | 51,728,746 | |
Microbiology product | Gross carrying amount | ||
Intangible assets | ||
Balance at beginning of the period | 55,645,028 | 8,855,421 |
Additions | 4,457,981 | 5,979,853 |
Additions from business combination | 39,613,280 | |
Foreign currency translation | 3,064 | |
Balance at end of the period | 60,103,009 | 54,451,618 |
Trademarks and patents | ||
Intangible assets | ||
Balance at beginning of the period | 59,760,753 | |
Balance at end of the period | 56,737,786 | |
Trademarks and patents | Gross carrying amount | ||
Intangible assets | ||
Balance at beginning of the period | 67,653,234 | 12,183,045 |
Additions | 36,249 | 61,803 |
Additions from business combination | 55,420,441 | |
Balance at end of the period | 67,689,483 | 67,665,289 |
Software | ||
Intangible assets | ||
Balance at beginning of the period | 1,987,690 | |
Balance at end of the period | 2,543,636 | |
Software | Gross carrying amount | ||
Intangible assets | ||
Balance at beginning of the period | 5,582,411 | 5,176,373 |
Additions | 1,050,149 | 136,400 |
Foreign currency translation | (8,039) | 12,488 |
Balance at end of the period | 6,624,521 | 5,325,261 |
Customer loyalty | ||
Intangible assets | ||
Balance at beginning of the period | 23,006,023 | |
Balance at end of the period | 21,978,775 | |
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 ($) | 9 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Intangible assets | ||
Balance at beginning of the period | $ (173,783,956) | |
Balance at end of the period | (174,453,875) | |
Accumulated depreciation | ||
Intangible assets | ||
Balance at beginning of the period | 28,522,662 | $ 17,524,688 |
Amortization of the period | 8,235,478 | 7,958,605 |
Foreign currency translation | (7,957) | 3,133 |
Balance at end of the period | 36,750,183 | 25,486,426 |
HB4 and breeding program | ||
Intangible assets | ||
Balance at beginning of the period | (31,679,681) | |
Balance at end of the period | (33,806,586) | |
HB4 and breeding program | Accumulated depreciation | ||
Intangible assets | ||
Balance at beginning of the period | 3,278,744 | 1,568,554 |
Amortization of the period | 1,282,642 | 1,270,163 |
Balance at end of the period | 4,561,386 | 2,838,717 |
Integrated seed products | ||
Intangible assets | ||
Balance at beginning of the period | (2,841,008) | |
Balance at end of the period | (2,658,346) | |
Integrated seed products | Accumulated depreciation | ||
Intangible assets | ||
Balance at beginning of the period | 378,800 | 43,997 |
Amortization of the period | 139,914 | 34,439 |
Foreign currency translation | (5,699) | 1,921 |
Balance at end of the period | 513,015 | 80,357 |
Microbiology product | ||
Intangible assets | ||
Balance at beginning of the period | (49,508,801) | |
Balance at end of the period | (51,728,746) | |
Microbiology product | Accumulated depreciation | ||
Intangible assets | ||
Balance at beginning of the period | 6,136,227 | 3,063,073 |
Amortization of the period | 2,238,036 | 3,218,529 |
Balance at end of the period | 8,374,263 | 6,281,602 |
Trademarks and patents | ||
Intangible assets | ||
Balance at beginning of the period | (59,760,753) | |
Balance at end of the period | (56,737,786) | |
Trademarks and patents | Accumulated depreciation | ||
Intangible assets | ||
Balance at beginning of the period | 7,892,481 | 3,916,004 |
Amortization of the period | 3,059,216 | 67,578 |
Balance at end of the period | 10,951,697 | 3,983,582 |
Software | ||
Intangible assets | ||
Balance at beginning of the period | (1,987,690) | |
Balance at end of the period | (2,543,636) | |
Software | Accumulated depreciation | ||
Intangible assets | ||
Balance at beginning of the period | 3,594,721 | 3,008,388 |
Amortization of the period | 488,422 | 999,286 |
Foreign currency translation | (2,258) | 1,212 |
Balance at end of the period | 4,080,885 | 4,008,886 |
Customer loyalty | ||
Intangible assets | ||
Balance at beginning of the period | (23,006,023) | |
Balance at end of the period | (21,978,775) | |
Customer loyalty | Accumulated depreciation | ||
Intangible assets | ||
Balance at beginning of the period | 7,241,689 | 5,924,672 |
Amortization of the period | 1,027,248 | 2,368,610 |
Balance at end of the period | $ 8,268,937 | $ 8,293,282 |
INFORMATION ABOUT COMPONENTS_19
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Goodwill (Details) - USD ($) | Mar. 31, 2024 | 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 ($) | Mar. 31, 2024 | Jun. 30, 2023 |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION | ||
Investment properties | $ 560,783 | $ 3,589,749 |
INFORMATION ABOUT COMPONENTS_21
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Trade and other payable (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Current | ||
Trade creditors | $ 100,566,790 | $ 104,211,238 |
Taxes | 5,192,702 | 3,561,058 |
Miscellaneous | 99,056 | 953,301 |
Trade and other payable | 166,619,725 | 150,807,674 |
Shareholders and other related parties | ||
Current | ||
Trade payable, related party | 90,765 | 35,292 |
Parent company | ||
Current | ||
Trade payable, related party | 206,962 | 644,191 |
Joint ventures and associates | ||
Current | ||
Trade payable, related party | $ 60,463,450 | $ 41,402,594 |
INFORMATION ABOUT COMPONENTS_22
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Borrowings (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Current | ||
Corporate bonds | $ 45,010,123 | $ 35,547,510 |
Borrowings | 142,608,708 | 107,639,659 |
Non-current | ||
Corporate bonds | 5,071,823 | 50,007,680 |
Borrowings | 20,475,005 | 60,670,946 |
Bank borrowings | ||
Current | ||
Borrowings | 90,932,210 | 61,303,952 |
Non-current | ||
Borrowings | 13,840,284 | 10,663,266 |
Trust debt securities | ||
Current | ||
Borrowings | 2,953,319 | 7,296,506 |
Non-current | ||
Borrowings | 1,562,898 | |
Net loans payables - Parents companies and related parties | ||
Current | ||
Borrowings | $ 3,713,056 | $ 3,491,691 |
INFORMATION ABOUT COMPONENTS_23
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Borrowings, carrying amount (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Current | ||
Borrowings | $ 142,608,708 | $ 107,639,659 |
Corporate bonds | 45,010,123 | 35,547,510 |
Non-current | ||
Borrowings | 20,475,005 | 60,670,946 |
Corporate bonds | 5,071,823 | 50,007,680 |
Amortized cost | ||
Current | ||
Corporate bonds | 45,010,123 | 35,547,510 |
Non-current | ||
Corporate bonds | 5,071,823 | 50,007,680 |
Fair value | ||
Current | ||
Corporate bonds | 44,268,325 | 34,725,828 |
Non-current | ||
Corporate bonds | 4,871,622 | 47,014,542 |
Bank borrowings | ||
Current | ||
Borrowings | 90,932,210 | 61,303,952 |
Non-current | ||
Borrowings | 13,840,284 | 10,663,266 |
Bank borrowings | Amortized cost | ||
Current | ||
Borrowings | 90,932,210 | 61,303,952 |
Non-current | ||
Borrowings | 13,840,284 | 10,663,266 |
Bank borrowings | Fair value | ||
Current | ||
Borrowings | 89,596,837 | 57,209,155 |
Non-current | ||
Borrowings | $ 13,010,039 | $ 10,374,646 |
INFORMATION ABOUT COMPONENTS_24
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Secured Notes (Details) $ in Millions | Mar. 31, 2024 USD ($) |
Secured Guaranteed Notes | At cost | |
Borrowings: | |
Borrowings | $ 26.5 |
Secured Guaranteed Notes | Fair value | |
Borrowings: | |
Borrowings | 27 |
Secured Convertible Guaranteed Notes | At cost | |
Borrowings: | |
Borrowings | 53.2 |
Secured Convertible Guaranteed Notes | Fair value | |
Borrowings: | |
Borrowings | $ 55.7 |
INFORMATION ABOUT COMPONENTS_25
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Employee benefits and social security (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION | ||
Salaries, accrued incentives, vacations and social security | $ 7,731,620 | $ 9,388,639 |
Key management personnel | 83,918 | 218,068 |
Employee benefits and social security | $ 7,815,538 | $ 9,606,707 |
INFORMATION ABOUT COMPONENTS_26
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - Deferred revenue and advances from customers (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Current | ||
Advances from customers | $ 4,096,466 | $ 9,216,032 |
Deferred Revenue | 1,443,431 | 15,659,630 |
Deferred revenue and advances from customers | 5,539,897 | 24,875,662 |
Non-current | ||
Advances from customers | 110,285 | 620,893 |
Deferred revenue | 2,669,410 | 1,436,912 |
Deferred revenue and advances from customers | $ 2,779,695 | $ 2,057,805 |
INFORMATION ABOUT COMPONENTS_27
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - Revenue (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
Revenue | ||||
Royalties | $ 838,516 | $ 198,630 | ||
Right of use license | 15,659,630 | 32,903,458 | ||
Revenues from contracts with customers | $ 84,038,761 | $ 92,984,498 | 340,515,393 | 314,376,460 |
Sale of goods and services | ||||
Revenue | ||||
Revenues from contracts with customers | $ 324,017,247 | $ 281,274,372 |
INFORMATION ABOUT COMPONENTS_28
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - Cost of Sales (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
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 | 186,878,728 | 173,983,461 | ||
Production costs | 18,690,702 | 20,705,305 | ||
Foreign currency translation | (214,790) | (59,173) | ||
Subtotal | 317,344,785 | 284,454,111 | ||
Inventories as of the end of the period | $ (115,680,731) | $ (113,499,215) | (115,680,731) | (113,499,215) |
Cost of sales | $ 41,337,736 | $ 36,137,759 | $ 201,664,054 | $ 170,954,896 |
INFORMATION ABOUT COMPONENTS_29
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - R&D classified by nature (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
Costs and expenses | ||||
Depreciation of leased assets | $ 2,526,174 | $ 2,816,343 | ||
Total | $ 3,590,101 | $ 3,893,887 | 11,814,419 | 11,203,793 |
R&D capitalized (Note 5.8) | 7,867,528 | 8,479,784 | ||
Total | 19,681,947 | 19,683,577 | ||
Research and development expenses | ||||
Costs and expenses | ||||
Amortization of intangible assets | 3,669,870 | 3,407,314 | ||
Analysis and storage | 5,302 | 34,135 | ||
Import and export expenses | 850 | |||
Depreciation of property, plant and equipment | 466,453 | 433,289 | ||
Freight and haulage | 23,924 | 9,080 | ||
Employee benefits and social securities | 3,847,298 | 3,515,918 | ||
Maintenance | 220,228 | 430,497 | ||
Energy and fuel | 8,337 | 104,181 | ||
Supplies and materials | 1,418,048 | 1,678,527 | ||
Mobility and travel | 157,561 | 211,183 | ||
Share-based incentives | 394,997 | 122,222 | ||
Publicity and advertising | 20,589 | |||
Professional fees and outsourced services | 848,716 | 746,611 | ||
Professional fees related parties | 163,008 | 237,864 | ||
Office supplies | 527,956 | 79,459 | ||
Information technology expenses | 26,716 | 38,436 | ||
Insurance | 35,690 | 62,884 | ||
Depreciation of leased assets | 46,772 | |||
Miscellaneous | 315 | 23,982 | ||
Total | $ 11,814,419 | $ 11,203,793 |
INFORMATION ABOUT COMPONENTS_30
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - Expenses classified by nature and functions (Details) - USD ($) | 9 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Expenses classified by nature and function | ||
Depreciation of leased assets | $ 2,526,174 | $ 2,816,343 |
Obsolescence | 335,763 | 814,026 |
Production costs | ||
Expenses classified by nature and function | ||
Amortization of intangible assets | 111,190 | 130,260 |
Analysis and storage | 570 | 5,173 |
Commissions and royalties | 419,089 | 122,275 |
Import and export expenses | 56,789 | 188,051 |
Depreciation of property, plant and equipment | 2,014,248 | 2,274,040 |
Depreciation of leased assets | 1,003,866 | 320,024 |
Freight and haulage | 1,006,879 | 1,861,657 |
Employee benefits and social securities | 8,057,497 | 9,428,993 |
Maintenance | 1,565,609 | 1,100,483 |
Energy and fuel | 671,376 | 998,752 |
Supplies and materials | 714,346 | 791,071 |
Mobility and travel | 126,559 | 95,638 |
Publicity and advertising | 1,735 | 2,528 |
Contingencies | 43,598 | |
Share-based incentives | 445,153 | 73,165 |
Professional fees and outsourced services | 1,496,057 | 2,100,245 |
Office supplies and registrations fees | 139,983 | 54,041 |
Insurance | 158,218 | 130,800 |
Information technology expenses | 31,175 | 20,550 |
Obsolescence | 335,763 | 814,026 |
Taxes | 288,287 | 193,533 |
Miscellaneous | 2,715 | |
Total | 18,690,702 | 20,705,305 |
Selling, general and administrative expenses | ||
Expenses classified by nature and function | ||
Amortization of intangible assets | 4,454,418 | 4,421,031 |
Analysis and storage | 156,402 | 334,532 |
Commissions and royalties | 1,342,811 | 1,304,013 |
Import and export expenses | 502,588 | 510,368 |
Depreciation of property, plant and equipment | 1,442,573 | 1,493,727 |
Depreciation of leased assets | 1,522,308 | 2,449,547 |
Impairment of receivables | 463,688 | 510,243 |
Freight and haulage | 9,326,846 | 7,831,593 |
Employee benefits and social securities | 29,437,292 | 27,655,561 |
Maintenance | 1,665,461 | 1,408,342 |
Energy and fuel | 363,024 | 269,725 |
Supplies and materials | 2,398,596 | 794,865 |
Mobility and travel | 3,216,650 | 3,147,898 |
Publicity and advertising | 3,434,408 | 4,510,067 |
Contingencies | 318,650 | 61,948 |
Share-based incentives | 10,641,213 | 2,484,831 |
Professional fees and outsourced services | 6,257,187 | 10,217,378 |
Professional fees related parties | 134,366 | 53,501 |
Office supplies and registrations fees | 927,625 | 999,428 |
Insurance | 1,602,483 | 2,310,796 |
Information technology expenses | 2,821,390 | 2,322,092 |
Taxes | 9,611,667 | 8,710,646 |
Miscellaneous | 145,380 | 504,011 |
Total | 92,187,026 | 84,306,143 |
Total | ||
Expenses classified by nature and function | ||
Amortization of intangible assets | 4,565,608 | 4,551,291 |
Analysis and storage | 156,972 | 339,705 |
Commissions and royalties | 1,761,900 | 1,426,288 |
Import and export expenses | 559,377 | 698,419 |
Depreciation of property, plant and equipment | 3,456,821 | 3,767,767 |
Depreciation of leased assets | 2,526,174 | 2,769,571 |
Impairment of receivables | 463,688 | 510,243 |
Freight and haulage | 10,333,725 | 9,693,250 |
Employee benefits and social securities | 37,494,789 | 37,084,554 |
Maintenance | 3,231,070 | 2,508,825 |
Energy and fuel | 1,034,400 | 1,268,477 |
Supplies and materials | 3,112,942 | 1,585,936 |
Mobility and travel | 3,343,209 | 3,243,536 |
Publicity and advertising | 3,436,143 | 4,512,595 |
Contingencies | 362,248 | 61,948 |
Share-based incentives | 11,086,366 | 2,557,996 |
Professional fees and outsourced services | 7,753,244 | 12,317,623 |
Professional fees related parties | 134,366 | 53,501 |
Office supplies and registrations fees | 1,067,608 | 1,053,469 |
Insurance | 1,760,701 | 2,441,596 |
Information technology expenses | 2,852,565 | 2,342,642 |
Obsolescence | 335,763 | 814,026 |
Taxes | 9,899,954 | 8,904,179 |
Miscellaneous | 148,095 | 504,011 |
Total | $ 110,877,728 | $ 105,011,448 |
INFORMATION ABOUT COMPONENTS_31
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - Other income or expenses, net (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | ||||
Net result from commercialization of agricultural products | $ (2,718,633) | $ 698,517 | ||
Expenses recovery | 319,843 | 482,034 | ||
Other income or expenses, net | 159,498 | 602,312 | ||
Total | $ 158,946 | $ 1,014,335 | $ (2,239,292) | $ 1,782,863 |
INFORMATION ABOUT COMPONENTS_32
INFORMATION ABOUT COMPONENTS OF CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - Finance results (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
Financial costs | ||||
Interest expenses with the Parents (Note 15) | $ (255,816) | $ (426,667) | ||
Interest expenses | (16,656,789) | (15,578,825) | ||
Financial commissions | (1,800,597) | (2,022,431) | ||
Financial costs | (18,713,202) | (18,027,923) | ||
Other financial results | ||||
Exchange differences generated by assets | (17,368,288) | (16,859,096) | ||
Exchange differences generated by liabilities | 25,808,288 | 11,615,309 | ||
Changes in fair value of financial assets or liabilities and other financial results | (9,928,530) | (2,926,589) | ||
Net gain of inflation effect on monetary items | 1,008,343 | 591,976 | ||
Other financial results | $ 2,856,009 | $ (2,089,237) | $ (480,187) | $ (7,578,400) |
TAXATION - Taxes on income (Det
TAXATION - Taxes on income (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
TAXATION | ||||
Current tax expense | $ (7,016,611) | $ (1,452,477) | ||
Deferred tax | (789,984) | 944,555 | ||
Income tax expenses | $ 955,832 | $ 5,189,627 | $ (7,806,595) | $ (507,922) |
TAXATION - Movement on the defe
TAXATION - Movement on the deferred income tax (Details) - USD ($) | 9 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
TAXATION | ||
Beginning of the period deferred tax | $ (28,472,383) | $ (24,994,569) |
Additions for business combination | (16,704,771) | |
Charge for the period | (789,984) | 944,555 |
Conversion difference | (468,228) | (810,767) |
Total net deferred tax | $ (29,730,595) | $ (41,565,552) |
TAXATION - Reconciliation of th
TAXATION - Reconciliation of the statutory tax rate (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
TAXATION | ||||
Earnings before income tax-rate | $ 16,143,941 | $ 23,472,162 | ||
Income tax expense by applying tax rate in force in the respective countries | (4,121,315) | (1,139,677) | ||
Share of profit of subsidiaries, joint ventures and associates | 1,503,115 | 202,534 | ||
Stock options charge | (2,257,743) | (434,439) | ||
Non-deductible expenses | (397,162) | (180,850) | ||
Unrecognized deferred tax | (8,024) | |||
Tax inflation adjustment | 8,722,532 | 5,587,101 | ||
Result of inflation effect on monetary items and other finance results | (11,256,022) | (4,367,390) | ||
Other tax benefit | 183,917 | |||
Others | (351,094) | |||
Income tax expenses | $ 955,832 | $ 5,189,627 | $ (7,806,595) | $ (507,922) |
TAXATION - Income tax expense w
TAXATION - Income tax expense was calculated by applying the tax rate in force (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
TAXATION | ||||
Earnings before income tax-rate | $ 8,821,477 | $ 22,288,892 | $ 16,143,941 | $ 23,472,162 |
Income tax | 4,121,315 | 1,139,677 | ||
Low or null taxation jurisdictions | ||||
TAXATION | ||||
Earnings before income tax-rate | $ 9,509,610 | $ 24,291,640 | ||
Weight average applicable tax rate | 0% | 0% | ||
Profit-making entities | ||||
TAXATION | ||||
Earnings before income tax-rate | $ 31,083,400 | $ 14,398,735 | ||
Weight average applicable tax rate | 34% | 31% | ||
Income tax | $ 10,583,572 | $ 4,464,256 | ||
Loss-making entities | ||||
TAXATION | ||||
Earnings before income tax-rate | $ (24,449,069) | $ (15,218,213) | ||
Weight average applicable tax rate | 26.40% | 21.80% | ||
Income tax | $ (6,462,257) | $ (3,324,580) |
EARNING PER SHARE (Details)
EARNING PER SHARE (Details) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2024 USD ($) category $ / shares shares | Mar. 31, 2023 USD ($) category $ / shares shares | Mar. 31, 2024 USD ($) category $ / shares shares | Mar. 31, 2023 USD ($) category $ / shares shares | |
Numerator | ||||
Profit for the period (basic EPS) | $ | $ 9,257,226 | $ 28,145,878 | $ 4,774,041 | $ 20,487,429 |
Profit for the period (diluted EPS) | $ | $ 9,257,226 | $ 28,145,878 | $ 4,774,041 | $ 20,487,429 |
Denominator | ||||
Weighted average number of shares (basic EPS) | shares | 62,837,668 | 62,002,011 | 62,837,668 | 62,002,011 |
Weighted average number of shares (diluted EPS) | shares | 66,761,225 | 63,079,523 | 66,761,225 | 63,079,523 |
Basic profit attributable to ordinary equity holders of the parent | $ / shares | $ 0.1473 | $ 0.4540 | $ 0.0760 | $ 0.3304 |
Diluted profit attributable to ordinary equity holders of the parent | $ / shares | $ 0.1387 | $ 0.4462 | $ 0.0715 | $ 0.3248 |
Number of categories of dilutive potential shares | category | 2 | 2 | 2 | 2 |
EQUITY INFORMATION (Details)
EQUITY INFORMATION (Details) | 9 Months Ended |
Mar. 31, 2024 shares USD ($) Vote $ / shares | |
EQUITY INFORMATION | |
Number of own shares repurchased | $ | 2,258,016 |
Number of votes for each ordinary share | Vote | 1 |
Equity compensation plan | |
EQUITY INFORMATION | |
Number of total converted options outstanding | 3,930,345 |
Ordinary shares | |
EQUITY INFORMATION | |
Number of shares authorized | 100,000,000 |
Par value per share | $ / shares | $ 0.0001 |
Number of shares issued | 62,845,314 |
Number of shares outstanding | 62,845,314 |
Preference shares | |
EQUITY INFORMATION | |
Number of shares authorized | 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 ($) | 9 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Investment activities | ||
Net assets acquisition by business combination | $ 152,070,313 | |
Investment in-kind in other related parties | $ 2,115,109 | 1,429,089 |
Capitalization of interest on buildings in progress | 100,809 | 59,604 |
Reclassification from investment properties to property, plant and equipment | 3,103,169 | |
Sale of Moolec Science S.A. equity investment | (900,000) | |
Investing activities | $ 4,419,087 | 153,559,006 |
Financing activities | ||
Capitalization of convertible notes (Note 5.13) | 12,211,638 | |
Purchase of own shares | (24,025,718) | |
Financing activities | $ (11,814,080) |
JOINT VENTURES AND ASSOCIATES -
JOINT VENTURES AND ASSOCIATES - Assets and Liabilities (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
JOINT VENTURES AND ASSOCIATES | ||
Assets in joint ventures and associates | $ 42,306,321 | $ 39,296,810 |
Liabilities in joint ventures and associates | 622,823 | |
Synertech Industrias S.A. | ||
JOINT VENTURES AND ASSOCIATES | ||
Assets in joint ventures and associates | 39,942,506 | 36,026,710 |
Trigall Genetics S.A. | ||
JOINT VENTURES AND ASSOCIATES | ||
Assets in joint ventures and associates | 8,534 | |
Liabilities in joint ventures and associates | 622,823 | |
Alfalfa Technologies S.R.L | ||
JOINT VENTURES AND ASSOCIATES | ||
Assets in joint ventures and associates | 36,503 | 36,502 |
Moolec Science S.A. | ||
JOINT VENTURES AND ASSOCIATES | ||
Assets in joint ventures and associates | $ 2,318,778 | $ 3,233,598 |
JOINT VENTURES AND ASSOCIATES_2
JOINT VENTURES AND ASSOCIATES - Changes in joint ventures investments (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
JOINT VENTURES AND ASSOCIATES | ||||
As of the beginning of the period | $ 38,673,987 | $ 37,836,144 | ||
Share-based incentives | 65,470 | 3,825 | ||
Foreign currency translation | (239) | (122,238) | ||
Share of profit or loss | $ 906,136 | $ 378,145 | 4,467,103 | 1,260,433 |
As of the end of the period | $ 42,306,321 | $ 38,964,731 | 42,306,321 | 38,964,731 |
Indrasa Biotecnologa S.A. | ||||
JOINT VENTURES AND ASSOCIATES | ||||
Sale of equity investment | (13,433) | |||
Share of profit or loss | (57,033) | |||
Moolec Science S.A. | ||||
JOINT VENTURES AND ASSOCIATES | ||||
Sale of equity investment | (900,000) | |||
Share of profit or loss | $ (80,051) | $ 482,989 |
JOINT VENTURES AND ASSOCIATES_3
JOINT VENTURES AND ASSOCIATES - Share of profit (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
JOINT VENTURES AND ASSOCIATES | ||||
Share of profit or loss | $ 906,136 | $ 378,145 | $ 4,467,103 | $ 1,260,433 |
Trigall Genetics S.A. | ||||
JOINT VENTURES AND ASSOCIATES | ||||
Share of profit or loss | 631,357 | 496,934 | ||
Synertech Industrias S.A. | ||||
JOINT VENTURES AND ASSOCIATES | ||||
Share of profit or loss | 3,915,797 | 337,543 | ||
Moolec Science S.A. | ||||
JOINT VENTURES AND ASSOCIATES | ||||
Share of profit or loss | $ (80,051) | 482,989 | ||
Indrasa Biotecnologa S.A. | ||||
JOINT VENTURES AND ASSOCIATES | ||||
Share of profit or loss | $ (57,033) |
SEGMENT INFORMATION - Group's r
SEGMENT INFORMATION - Group's reporting segments (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
Revenues from contracts with customers | ||||
Sale of goods and services | $ 84,038,761 | $ 92,984,498 | $ 340,515,393 | $ 314,376,460 |
Royalties | 838,516 | 198,630 | ||
Initial recognition and changes in the fair value of biological assets at the point of harvest | (56,756) | 620,894 | 281,372 | 972,371 |
Total | 340,796,765 | 315,348,831 | ||
Cost of sales | $ (41,337,736) | $ (36,137,759) | (201,664,054) | (170,954,896) |
Gross profit per segment | $ 139,132,711 | $ 144,393,935 | ||
% Gross margin | 41% | 46% | ||
Seed and integrated products | ||||
Revenues from contracts with customers | ||||
Royalties | $ 838,516 | $ 198,630 | ||
Initial recognition and changes in the fair value of biological assets at the point of harvest | 281,372 | 145,985 | ||
Total | 63,116,607 | 36,091,751 | ||
Cost of sales | (42,331,794) | (15,876,212) | ||
Gross profit per segment | $ 20,784,813 | $ 20,215,539 | ||
% Gross margin | 33% | 56% | ||
Crop protection | ||||
Revenues from contracts with customers | ||||
Initial recognition and changes in the fair value of biological assets at the point of harvest | $ 448,227 | |||
Total | $ 173,971,462 | 160,749,181 | ||
Cost of sales | (110,242,995) | (106,523,851) | ||
Gross profit per segment | $ 63,728,467 | $ 54,225,330 | ||
% Gross margin | 37% | 34% | ||
Crop nutrition | ||||
Revenues from contracts with customers | ||||
Initial recognition and changes in the fair value of biological assets at the point of harvest | $ 378,159 | |||
Total | $ 103,708,696 | 118,507,899 | ||
Cost of sales | (49,089,265) | (48,554,833) | ||
Gross profit per segment | $ 54,619,431 | $ 69,953,066 | ||
% Gross margin | 53% | 59% | ||
Sale of goods and services | ||||
Revenues from contracts with customers | ||||
Sale of goods and services | $ 339,676,877 | $ 314,177,830 | ||
Sale of goods and services | Seed and integrated products | ||||
Revenues from contracts with customers | ||||
Sale of goods and services | 61,996,719 | 35,747,136 | ||
Sale of goods and services | Crop protection | ||||
Revenues from contracts with customers | ||||
Sale of goods and services | 173,971,462 | 160,300,954 | ||
Sale of goods and services | Crop nutrition | ||||
Revenues from contracts with customers | ||||
Sale of goods and services | $ 103,708,696 | $ 118,129,740 |
FINANCIAL INSTRUMENTS - RISK _3
FINANCIAL INSTRUMENTS - RISK MANAGEMENT - Financial assets by category (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Amortized cost | ||
Financial assets by category | ||
Financial assets. | $ 242,292,076 | $ 218,918,004 |
Fair value | ||
Financial assets by category | ||
Financial assets. | 16,453,083 | 11,922,317 |
Cash and cash equivalents | Amortized cost | ||
Financial assets by category | ||
Financial assets. | 16,361,199 | 48,129,194 |
Other financial assets | Amortized cost | ||
Financial assets by category | ||
Financial assets. | 444,725 | 657,612 |
Other financial assets | Fair value | ||
Financial assets by category | ||
Financial assets. | 16,453,083 | 11,922,317 |
Trade receivables | Amortized cost | ||
Financial assets by category | ||
Financial assets. | 211,185,318 | 158,006,474 |
Other receivables | Amortized cost | ||
Financial assets by category | ||
Financial assets. | $ 14,300,834 | $ 12,124,724 |
FINANCIAL INSTRUMENTS - RISK _4
FINANCIAL INSTRUMENTS - RISK MANAGEMENT - Financial liabilities by category (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Amortized cost | ||
Financial liabilities by category | ||
Financial liabilities | $ 422,166,254 | $ 404,988,396 |
Fair value | ||
Financial liabilities by category | ||
Financial liabilities | 5,146,003 | 8,225,508 |
Trade and other payables | Amortized cost | ||
Financial liabilities by category | ||
Financial liabilities | 161,473,722 | 142,582,166 |
Trade and other payables | Fair value | ||
Financial liabilities by category | ||
Financial liabilities | 5,146,003 | 8,225,508 |
Borrowings | Amortized cost | ||
Financial liabilities by category | ||
Financial liabilities | 163,083,713 | 168,310,605 |
secured notes | Amortized cost | ||
Financial liabilities by category | ||
Financial liabilities | 79,722,978 | 75,213,146 |
Lease liability | Amortized cost | ||
Financial liabilities by category | ||
Financial liabilities | 12,271,838 | 13,889,223 |
Consideration for acquisition of assets | Amortized cost | ||
Financial liabilities by category | ||
Financial liabilities | $ 5,614,003 | $ 4,993,256 |
FINANCIAL INSTRUMENTS - RISK _5
FINANCIAL INSTRUMENTS - RISK MANAGEMENT - Fair value by hierarchy (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Trade and other payables | Level 2 | ||
Fair value by hierarchy | ||
Financial liabilities, at fair value | $ 5,146,003 | $ 8,225,508 |
US Treasury bills | Level 1 | ||
Fair value by hierarchy | ||
Financial assets at fair value | 4,497,915 | 9,163,298 |
Mutual funds | Level 1 | ||
Fair value by hierarchy | ||
Financial assets at fair value | 9,304,234 | 1,596,539 |
Other investments | Level 1 | ||
Fair value by hierarchy | ||
Financial assets at fair value | $ 2,650,934 | $ 1,162,480 |
FINANCIAL INSTRUMENTS - RISK _6
FINANCIAL INSTRUMENTS - RISK MANAGEMENT - Currency risk (Details) - Currency risk | 9 Months Ended |
Mar. 31, 2024 USD ($) | |
Currency risk | |
Foreign currency | $ (16,326,836) |
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 | $ 1,600,000 |
LEASES - Right-of-use leased as
LEASES - Right-of-use leased asset (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | 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 | 2,526,174 | $ 2,816,343 | |
Book value at the end of the period/year | 12,688,949 | $ 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 | 2,146,418 | 3,154,950 | |
Additions from business combination | 3,005,000 | ||
Disposals | (1,375,665) | (1,839,921) | |
Exchange differences | (426,105) | 1,015,131 | |
Book value at the end of the period/year | 21,507,840 | 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 | (921,505) | (171,870) | |
Exchange differences | 12,395 | (148,587) | |
Depreciation of the period/year | 2,526,174 | 3,565,894 | |
Book value at the end of the period/year | $ (8,818,891) | $ (7,226,617) |
LEASES - Lease liability (Detai
LEASES - Lease liability (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Jun. 30, 2023 | |
LEASES | ||
Book value at the beginning of the period/year | $ 13,889,223 | $ 11,751,284 |
Additions of the period/year | 2,146,418 | 3,154,950 |
Additions from business combination | 3,245,000 | |
Interest expenses, exchange differences and inflation effects | 175,968 | (406,494) |
Payment of the period/year | (3,939,771) | (3,855,517) |
Total | 12,271,838 | 13,889,223 |
Lease Liabilities | ||
Non-current | 8,791,543 | 10,030,524 |
Current | 3,480,295 | 3,858,699 |
Total | $ 12,271,838 | $ 13,889,223 |
LEASES - Right-of-use asset by
LEASES - Right-of-use asset by type (Details) - USD ($) | 9 Months Ended | ||
Mar. 31, 2024 | Jun. 30, 2023 | Jun. 30, 2022 | |
Right-of-use leased asset | |||
Right of use asset | $ 12,688,949 | $ 13,936,575 | |
USD | |||
Right-of-use leased asset | |||
Incremental borrowing rate | 2.34% | ||
BRL | |||
Right-of-use leased asset | |||
Incremental borrowing rate | 12.81% | ||
Right-of-use leased asset | |||
Right-of-use leased asset | |||
Right of use asset | $ 21,507,840 | 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 | 1,372,597 | 1,475,581 | |
Right-of-use leased asset | Equipment and computer software | |||
Right-of-use leased asset | |||
Right of use asset | 1,036,258 | 903,306 | |
Right-of-use leased asset | Land and buildings | |||
Right-of-use leased asset | |||
Right of use asset | $ 15,443,244 | $ 15,128,564 |
SHAREHOLDERS AND OTHER RELATE_3
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS - Transactions (Details) - USD ($) | 9 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
In-kind contributions | $ 2,115,109 | $ 1,429,089 |
Total | 1,641,794 | (27,644,599) |
Joint ventures and associates | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Sales of goods and services | 19,404,971 | 24,927,813 |
Purchases of goods and services | (20,951,684) | (48,561,129) |
Key management personnel | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Sales of goods and services | 572,136 | |
Salaries, social security benefits and other benefits | (4,425,476) | (3,963,332) |
Shareholders and other related parties | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Sales of goods and services | 7,156,388 | 597,950 |
Purchases of goods and services | (1,401,698) | (2,239,972) |
In-kind contributions | 2,115,109 | 1,429,089 |
Interest expenses | 19,513 | |
Parent company and related parties to Parent | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Interest expenses | $ (255,816) | $ (426,667) |
SHAREHOLDERS AND OTHER RELATE_4
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS - Receivable (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Other receivables | $ 30,686,962 | $ 28,824,998 |
Total | 12,869,621 | 10,992,275 |
Shareholders and other related parties | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Other receivables | 3,214,782 | 3,792,429 |
Trade debtors | 1,135,342 | |
Joint ventures and associates | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Other receivables | $ 8,519,497 | 6,334,219 |
Trade debtors | $ 865,627 |
SHAREHOLDERS AND OTHER RELATE_5
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS - Payables (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Total | $ (64,558,151) | $ (45,791,836) |
Parent company and related parties to Parent | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Trade payables/creditors | (206,962) | (644,191) |
Net loans payables | (3,713,056) | (3,491,691) |
Key management personnel | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Salaries, social security benefits and other benefits | (83,918) | (218,068) |
Shareholders and other related parties | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Trade payables/creditors | (90,765) | (35,292) |
Joint ventures and associates | ||
SHAREHOLDERS AND OTHER RELATED PARTIES BALANCES AND TRANSACTIONS | ||
Trade payables/creditors | $ (60,463,450) | $ (41,402,594) |
KEY MANAGEMENT PERSONNEL COMP_3
KEY MANAGEMENT PERSONNEL COMPENSATION - Summary of compensation of directors and other members (Details) - USD ($) | 9 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
KEY MANAGEMENT PERSONNEL COMPENSATION | ||
Salaries, social security and other benefits | $ 1,472,483 | $ 1,283,114 |
Share-based incentives | 2,952,993 | 2,680,218 |
Total | $ 4,425,476 | $ 3,963,332 |
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 | Minimum | |
SHARE-BASED PAYMENT | |
Exercise price | 10.47 |
Base Share Option plan | Maximum | |
SHARE-BASED PAYMENT | |
Exercise price | $ 10.79 |
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 | Minimum | |
SHARE-BASED PAYMENT | |
Exercise price | $ 10.47 |
Performance Share Option plan | Maximum | |
SHARE-BASED PAYMENT | |
Exercise price | $ 10.79 |
Performance Share Option plan | Maximum | If EBITDA reaches at least US$150 million | |
SHARE-BASED PAYMENT | |
Vesting percentage | 100% |