Agricultural company Los Grobo group’s half-year financial results have placed its financial dire straits in the limelight. The report, which covers the six months through December 2024, reveals that Los Grobo Agropecuaria and Agrofina, the holding’s main two companies which filed for a legal moratorium earlier this month, lost over AR$42.7 billion (US$40 million at the official rate, US$35,4 million at the MEP rate).

Perhaps the most alarming revelation is that Los Grobo Agropecuaria has net negative assets, placing the company on the verge of dissolvement according to Argentina’s General Companies Law. In the last semester of 2024, the company reported AR$318 million in revenue, but the combination of high costs, operational expenses, and an elevated financial impact led to net losses of AR$26 billion — almost four times the losses they reported in the second half of 2023. 

This plunge has further deepened its solvency crisis: its total liabilities are AR$333 billion, while its assets are........

© Buenos Aires Herald