Investments (Tables)

12 Months Ended

Jun. 30, 2018

Investments

Schedule of changes in investments

a) Changes in investments

At June 30, 2016	102,955
Share of loss in a joint venture	(4,425	)
Effect from currency translation adjustment	2,896
Balance at June 30, 2017	101,426
Write-off of investment due to spin-off	(115,478	)
Share of profit in a joint venture	14,671
Effect from currency translation adjustment	(533	)
Balance at June 30, 2018	86

Schedule of reconciliation with the book value of the investment in the consolidated financial statements

Cresca’s summarized financial information, based on the financial statements prepared in accordance with IFRS as of and for years ended June 30, 2018 and 2017 and the reconciliation with the book value of the investment in the consolidated financial statements considering the fair value adjustments on the acquisition date are presented below:

	2018(*)			2017
Assets		3,371			281,529
Current		3,356			9,705
Cash and cash equivalents		333			503
Accounts receivable, inventories and other receivables		3,023			8,976
Contract of purchase of land		—			226
Noncurrent		15			271,824
Recoverable taxes		—			3,311
Investment properties		—			268,267
Other noncurrent		15			246
Liabilities		3,200			78,677
Current		3,200			1,295
Trade payables, taxes and loans		3,200			1,295
Noncurrent		—			77,382
Including taxes and loans		—			77,382
Total net assets		171			202,852
Company’s interest – 50%		50	%		50	%
Company’s interest in net assets at estimated fair value		86			101,426

	2018			2017
Revenue		83			12,916
Cost of products sold		(684	)		(14,404	)
Gross revenue (expenses)		(601	)		(1,488	)
Selling expenses		(34	)		(891	)
Administrative expenses		(374	)		(979	)
Other profit/expenses		437			(92	)
Finance profit		32,340			(578	)
Finance costs		16			(5,257	)
Loss before tax		31,784			(9,285	)
Income and social contribution taxes		(2,443	)		—
Loss for the year		29,341			(9,285	)
Company’s interest – 50%		14,671			(4,643	)
Amortization of fair value adjustment on the purchase date (shareholders’ loans)		—			218
Equity method		14,671			(4,425	)

(*) Balance sheet after spin-off that took place on February 9, 2018, as described in Note 1.1.