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Cresud S.A.C.I.F. y A. (CRESY) CEO Alejandro Elsztain on Q3 2020 Results - Earnings Call Transcript

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Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) Q3 2020 Results Conference Call June 10, 2020 1:00 PM ET

Company Participants

Alejandro Elsztain - Chief Executive Officer

Carlos Blousson - General Manager of Argentina and Bolivia

Matias Gaivironsky - Chief Administrative and Financial Officer

Unidentified Company Representative

Good afternoon, everyone. I’m [indiscernible], Investor Relations officer of Cresud. And I welcome you to the Third Quarter 2020 Results Conference Call.

As you know, today’s live webcast will be held in a new format through Zoom. Nevertheless, both audio and a slideshow may be accessed through companies Investor Relations website at www.cresud.com.ar by clicking on the banner webcast link. The following presentation and the earnings release issued yesterday are also available for download on the company website. [Operator Instructions]

Before we begin, I would like to remind you that this call is being recorded and that information discussed today may include Forward-Looking Statements regarding the company’s financial and operating performance. All projections are subject to risks and uncertainties, and actual results may differ materially. Please refer to the detailed note in the company’s earnings release regarding forward-looking statements.

I will now turn the call over to Mr. Alejandro Elsztain, CEO. Please go ahead, sir.

Alejandro Elsztain

Good afternoon, everybody. Welcome to the third quarter 2020 results. This is a special conference calls, you know the different difficult times that we are spending and I hope that everyone is well and safe.

As you know, Cresud as a business is operating relatively normally, being an active that is essential in Argentina and all over the world. Not the same in other segments. We can see that in the European segments we had suffered in lockdown since March 20 in the case of Argentina, so the shopping center where closed and hotels were closed. We are going to see that the main results

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