Item
|
Description
|
|
1
|
Condensed Interim Financial Statements as of March 31, 2019 and for the three months periods ended March 31, 2019 and 2018
|
Notes
|
03.31.2019
|
03.31.2018
|
||||||||
Net revenues from sales
|
4
|
7,437,581,594
|
7,175,980,991
|
|||||||
Cost of sales
|
5
|
(5,292,981,940
|
)
|
(5,508,879,803
|
)
|
|||||
Gross income
|
2,144,599,654
|
1,667,101,188
|
||||||||
Selling and administrative expenses
|
6
|
(626,027,610
|
)
|
(550,617,795
|
)
|
|||||
Other net income and expenses
|
7
|
(2,098,128
|
)
|
5,827,531
|
||||||
Tax on bank debits and credits
|
8
|
(110,997,236
|
)
|
(102,225,618
|
)
|
|||||
NET FINANCIAL INCOME/(LOSS)
|
||||||||||
Exchange difference
|
9
|
(160,878,941
|
)
|
(68,708,600
|
)
|
|||||
Income/(loss) for monetary position
|
203,085,597
|
137,620,893
|
||||||||
Financial income
|
9
|
24,838,662
|
2,987,263
|
|||||||
Financial expenses
|
9
|
(201,469,881
|
)
|
(144,748,564
|
)
|
|||||
Income/(loss) before income tax
|
1,271,052,117
|
947,236,298
|
||||||||
INCOME TAX
|
||||||||||
Current
|
10
|
(342,192,821
|
)
|
(315,343,594
|
)
|
|||||
Deferred
|
10
|
138,364,416
|
90,713,801
|
|||||||
NET INCOME FOR THE PERIOD
|
1,067,223,712
|
722,606,505
|
||||||||
OTHER COMPREHENSIVE INCOME
|
||||||||||
Items to be reclassified through profit and loss:
|
||||||||||
Due to exchange differences
|
(9,483,210
|
)
|
10,099,565
|
|||||||
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS)
|
(9,483,210
|
)
|
10,099,565
|
|||||||
TOTAL COMPREHENSIVE INCOME/(LOSS)
|
1,057,740,502
|
732,706,070
|
||||||||
Net income from:
|
||||||||||
Owners of the parent company
|
1,013,880,370
|
670,866,044
|
||||||||
Non-controlling interests
|
53,343,342
|
51,740,461
|
||||||||
NET INCOME FOR THE PERIOD
|
1,067,223,712
|
722,606,505
|
||||||||
Comprehensive income from:
|
||||||||||
Owners of the parent company
|
1,009,043,771
|
676,016,991
|
||||||||
Non-controlling interests
|
48,696,731
|
56,689,079
|
||||||||
TOTAL COMPREHENSIVE INCOME/(LOSS)
|
1,057,740,502
|
732,706,070
|
||||||||
Earnings per share (basic and diluted)
|
11
|
1.7011
|
1.1256
|
Notes
|
03.31.2019
|
12.31.2018
|
||||||||
ASSETS
|
||||||||||
Non-current assets
|
||||||||||
Property, plant, and equipment
|
12
|
26,603,753,797
|
24,454,759,160
|
|||||||
Intangible assets
|
237,675,394
|
244,274,092
|
||||||||
Investments
|
18
|
1,857,735
|
1,857,735
|
|||||||
Capital gain
|
18,529,747
|
18,529,747
|
||||||||
Inventories
|
13
|
747,215,445
|
757,037,023
|
|||||||
Other receivables
|
15
|
938,513,073
|
1,053,214,582
|
|||||||
Right to use assets
|
16
|
308,636,371
|
-
|
|||||||
Trade accounts receivable
|
17
|
4,004,904
|
4,526,281
|
|||||||
Total non-current assets
|
28,860,186,466
|
26,534,198,620
|
||||||||
Current assets
|
||||||||||
Inventories
|
13
|
4,824,247,183
|
4,222,752,956
|
|||||||
Other receivables
|
15
|
473,940,108
|
428,434,120
|
|||||||
Trade accounts receivable
|
17
|
2,678,689,462
|
2,307,803,308
|
|||||||
Investments
|
18
|
636,272,119
|
2,341,921,435
|
|||||||
Cash and banks
|
860,254,707
|
901,723,964
|
||||||||
Total current assets
|
9,473,403,579
|
10,202,635,783
|
||||||||
Total assets
|
38,333,590,045
|
36,736,834,403
|
Notes
|
03.31.2019
|
12.31.2018
|
||||||||
SHAREHOLDERS’ EQUITY AND LIABILITIES
|
||||||||||
Capital stock and other capital related accounts
|
19
|
8,032,074,437
|
8,032,074,437
|
|||||||
Reserves
|
2,548,908,593
|
2,548,908,593
|
||||||||
Retained earnings
|
7,092,497,598
|
6,078,617,228
|
||||||||
Accumulated other comprehensive income
|
20
|
301,982,963
|
306,819,562
|
|||||||
Shareholders’ equity attributable to owners of the parent company
|
17,975,463,591
|
16,966,419,820
|
||||||||
Non-controlling interests
|
1,585,175,054
|
1,536,478,323
|
||||||||
Total shareholders’ equity
|
19,560,638,645
|
18,502,898,143
|
||||||||
LIABILITIES
|
||||||||||
Non-current liabilities
|
||||||||||
Loans
|
21
|
2,831,317,359
|
2,914,458,913
|
|||||||
Accounts payable
|
22
|
98,358,970
|
432,762,539
|
|||||||
Provisions
|
23
|
299,636,572
|
327,102,345
|
|||||||
Other payables
|
24,008,843
|
8,830,580
|
||||||||
Lease payables
|
16
|
272,867,959
|
-
|
|||||||
Deferred tax liabilities
|
3,422,837,730
|
3,561,363,582
|
||||||||
Total non-current liabilities
|
6,949,027,433
|
7,244,517,959
|
||||||||
Current liabilities
|
||||||||||
Loans
|
21
|
3,572,791,607
|
3,750,513,098
|
|||||||
Accounts payable
|
22
|
6,457,199,804
|
5,424,846,726
|
|||||||
Customer advances
|
167,891,343
|
188,520,193
|
||||||||
Payroll and social security contributions
|
720,730,992
|
708,576,211
|
||||||||
Tax liabilities
|
24
|
854,841,941
|
871,367,044
|
|||||||
Lease payables
|
16
|
5,451,374
|
-
|
|||||||
Other payables
|
45,016,906
|
45,595,029
|
||||||||
Total current liabilities
|
11,823,923,967
|
10,989,418,301
|
||||||||
Total liabilities
|
18,772,951,400
|
18,233,936,260
|
||||||||
Total shareholders’ equity and liabilities
|
38,333,590,045
|
36,736,834,403
|
Owners contributions
|
Other comprehensive income
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
Capital
|
Capital
adjustments
|
Share premium
|
Merger premium
|
Legal reserve
|
Environmental reserve
|
Optional reserve
|
Future dividends reserve
|
Exchange income/(loss)
|
Accumulated income/(loss)
|
Shareholders’ equity attributable to owners of the parent
company
|
Non-controlling interests
|
Total
|
||||||||||||||||||||||||||||||||||||||||
Balances as of January 1, 2019
|
59,602,649
|
2,505,050,499
|
4,630,891,823
|
836,529,466
|
116,211,941
|
4,003,835
|
2,395,018,905
|
33,673,912
|
306,819,562
|
6,078,617,228
|
16,966,419,820
|
1,536,478,323
|
18,502,898,143
|
|||||||||||||||||||||||||||||||||||||||
Other comprehensive income
|
(4,836,599
|
)
|
(4,836,599
|
)
|
(4,646,611
|
)
|
(9,483,210
|
)
|
||||||||||||||||||||||||||||||||||||||||||||
Income/(loss) for the period
|
1,013,880,370
|
1,013,880,370
|
53,343,342
|
1,067,223,712
|
||||||||||||||||||||||||||||||||||||||||||||||||
Balances as of March 31, 2019
|
59,602,649
|
2,505,050,499
|
4,630,891,823
|
836,529,466
|
116,211,941
|
4,003,835
|
2,395,018,905
|
33,673,912
|
301,982,963
|
7,092,497,598
|
17,975,463,591
|
1,585,175,054
|
19,560,638,645
|
Owners contributions
|
Other comprehensive income
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
Capital
|
Capital
adjustments
|
Share premium
|
Other capital adjustments
|
Merger premium
|
Legal reserve
|
Environmental reserve
|
Future dividends reserve
|
Exchange income/(loss)
|
Accumulated income/(loss)
|
Shareholders’ equity attributable to owners of the parent
company
|
Non-controlling interests
|
Total
|
||||||||||||||||||||||||||||||||||||||||
Balances as of January 1, 2018
|
59,602,649
|
2,505,050,498
|
5,523,505,450
|
(892,613,628
|
)
|
836,529,465
|
115,308,297
|
4,003,835
|
33,673,912
|
37,903,788
|
6,462,675,723
|
14,685,639,989
|
1,109,664,944
|
15,795,304,933
|
||||||||||||||||||||||||||||||||||||||
Other comprehensive income
|
5,150,947
|
5,150,947
|
4,948,618
|
10,099,565
|
||||||||||||||||||||||||||||||||||||||||||||||||
Income/(loss) for the period
|
670,866,044
|
670,866,044
|
51,740,461
|
722,606,504
|
||||||||||||||||||||||||||||||||||||||||||||||||
Balances as of March 31, 2018
|
59,602,649
|
2,505,050,498
|
5,523,505,450
|
(892,613,628
|
)
|
836,529,465
|
115,308,297
|
4,003,835
|
33,673,912
|
43,054,735
|
7,133,541,767
|
15,361,656,980
|
1,166,354,023
|
16,528,011,002
|
03.31.2019
|
03.31.2018
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Net income for the period
|
1,067,223,712
|
722,606,505
|
||||||
Adjustments to calculate cash flows from operating activities
|
||||||||
Income tax recognized in results
|
203,828,405
|
224,629,793
|
||||||
Depreciation and amortizations
|
619,344,405
|
689,655,455
|
||||||
Provisions
|
16,265,614
|
11,492,313
|
||||||
Interest lost
|
287,496,656
|
65,605,964
|
||||||
Exchange difference
|
44,029,353
|
(55,862,379
|
)
|
|||||
Other
|
(7,840,125
|
)
|
5,827,623
|
|||||
Changes in operating assets and liabilities
|
||||||||
Inventories
|
(559,459,679
|
)
|
(344,393,690
|
)
|
||||
Other receivables
|
(53,900,915
|
)
|
(167,338,154
|
)
|
||||
Trade accounts receivable
|
(576,003,481
|
)
|
(422,160,085
|
)
|
||||
Customer advances
|
(259,346
|
)
|
(100,107,388
|
)
|
||||
Accounts payable
|
(103,229,099
|
)
|
(489,303,459
|
)
|
||||
Lease payables
|
(17,756,077
|
)
|
-
|
|||||
Payroll and social security contributions
|
41,229,739
|
36,438,174
|
||||||
Provisions
|
(43,665,370
|
)
|
(7,182,649
|
)
|
||||
Tax liabilities
|
(105,924,848
|
)
|
(13,186,227
|
)
|
||||
Other payables
|
169,591,874
|
(6,750,743
|
)
|
|||||
Effect of restatement in homogeneous currency
|
(281,857,202
|
)
|
(113,162,735
|
)
|
||||
Income tax paid
|
(141,542,330
|
)
|
(120,651,380
|
)
|
||||
Net cash flows generated from/(applied to) operations
|
557,571,286
|
(83,843,062
|
)
|
|||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||
Income from the sale of property, plant, and equipment
|
6,496,885
|
2,995,049
|
||||||
Acquisition of property, plant and equipment
|
(1,893,397,155
|
)
|
(1,395,377,102
|
)
|
||||
Acquisition of intangible assets
|
(924,739
|
)
|
(2,216,634
|
)
|
||||
Contributions to the F.F.F.S.F.I Trust
|
(16,538,659
|
)
|
(13,221,195
|
)
|
||||
Net cash flows used in investing activities
|
(1,904,363,668
|
)
|
(1,407,819,882
|
)
|
||||
CASH FLOWS FROM FINANCING ACTIVITIES
|
||||||||
New loans
|
248,125,570
|
287,737,941
|
||||||
Interest paid
|
(256,642,596
|
)
|
(249,931,745
|
)
|
||||
Repayment of loans
|
(413,103,327
|
)
|
(284,697,401
|
)
|
||||
Net cash flows applied to financing activities
|
(421,620,353
|
)
|
(246,891,205
|
)
|
||||
Net changes in cash and cash equivalents
|
(1,768,412,735
|
)
|
(1,738,554,149
|
)
|
||||
Cash and cash equivalents at the beginning of the year
|
3,243,645,399
|
5,247,614,980
|
||||||
Effect of reinstatement in homogeneous currency of cash and equivalents
|
(24,042,794
|
)
|
(17,500,945
|
)
|
||||
Effects of exchange differences on cash and cash equivalents held in foreign currency
|
45,336,956
|
58,353,520
|
||||||
Cash and cash equivalents at the closing of the period
|
1,496,526,826
|
3,549,913,406
|
-
|
Of the bylaws: August 5, 1926 under No 38, on Page 46
|
-
|
Last amendment recorded: August 29, 2017, under No 17,557, on Book 85 of Joint-stock companies
|
-
|
No. of Registration with the Supervisory Board of Companies [IGJ]: 1,914,357.
|
-
|
Taxpayer's ID Number [CUIT]: 30-50053085-1
|
-
|
Date of expiration: July 3, 2116.
|
Main activity
|
Country
|
% of direct and indirect ownership as of
|
|||||
03.31.2019
|
12.31.2018
|
03.31.2018
|
|||||
Controlled:
|
|||||||
Cofesur S.A.U.
|
Investment
|
Argentina
|
100.00
|
100.00
|
100.00
|
||
Ferrosur Roca S.A. (1)
|
Rail freight transportation
|
Argentina
|
80.00
|
80.00
|
80.00
|
||
Recycomb S.A.U.
|
Waste recycling
|
Argentina
|
100.00
|
100.00
|
100.00
|
||
Yguazú Cementos S.A.
|
Marketing and manufacture of construction materials
|
Paraguay
|
51.00
|
51.00
|
51.00
|
(1)
|
Directly controlled by Cofesur S.A.U.
|
03.31.2019
|
12.31.2018
|
|||||||
Current assets (1)
|
1,531,756,749
|
1,428,890,771
|
||||||
Non-current assets
|
4,464,051,132
|
4,603,271,401
|
||||||
Current liabilities (2)
|
874,328,427
|
839,375,788
|
||||||
Non-current liabilities (2)
|
2,183,752,909
|
2,394,238,662
|
||||||
Shareholders’ equity attributable to owners of the parent company
|
1,498,289,582
|
1,427,306,060
|
||||||
Non-controlling interests
|
1,439,436,963
|
1,371,241,660
|
(1)
|
Includes 522,233,953 and 638,165,332 of cash and cash equivalents as of March 31, 2019 and December 31, 2018, respectively.
|
(2)
|
Includes the financial loans described in Note 21.
|
03.31.2019
|
03.31.2018
|
|||||||
Net revenues from sales
|
733,273,957
|
547,803,379
|
||||||
Financial income/(loss)
|
(55,287,162
|
)
|
(48,199,610
|
)
|
||||
Depreciations
|
(109,935,770
|
)
|
(86,325,242
|
)
|
||||
Income tax
|
(13,673,193
|
)
|
(7,617,603
|
)
|
||||
Net income
|
148,662,025
|
95,667,927
|
03.31.2019
|
03.31.2018
|
|||||||
Net cash flows from operating activities
|
272,155,288
|
64,847,992
|
||||||
Net cash flows used in investment activities
|
(2,592,939
|
)
|
(1,538,517
|
)
|
||||
Net cash flows applied to financing activities
|
(381,283,788
|
)
|
(101,436,386
|
)
|
03.31.2019
|
03.31.2018
|
|||||||
Current assets
|
787,627,479
|
791,294,510
|
||||||
Non-current assets
|
1,967,202,286
|
2,021,029,457
|
||||||
Current liabilities
|
1,852,115,675
|
1,804,840,206
|
||||||
Non-current liabilities
|
169,125,737
|
135,420,427
|
||||||
Shareholders’ equity attributable to owners of the parent company
|
586,870,682
|
665,759,590
|
||||||
Non-controlling interests
|
146,717,671
|
166,439,897
|
Three months period
|
03.31.2019
|
03.31.2018
|
||||||
Net revenues from sales
|
685,748,204
|
697,076,718
|
||||||
Financial income/(loss)
|
(52,804,013
|
)
|
(19,630,376
|
)
|
||||
Depreciations
|
109,295,570
|
97,360,275
|
||||||
Income tax
|
3,320,572
|
120,037,191
|
||||||
Net income/(loss) for the period
|
(98,611,134
|
)
|
24,323,883
|
Three months period
|
03.31.2019
|
03.31.2018
|
||||||
Net cash flows applied to operations
|
182,804,989
|
(7,763,340
|
)
|
|||||
Net cash flows applied to investing activities
|
(34,070,609
|
)
|
(72,924,396
|
)
|
||||
Net cash flows from financing activities
|
(109,678,482
|
)
|
133,965,217
|
●
|
Adoption of new and revised IFRS
|
●
|
New standards
|
03.31.2019
|
12.31.2018
|
|||||||
Current assets
|
77,074,368
|
62,581,344
|
||||||
Current liabilities
|
73,810
|
82,503
|
||||||
Shareholders’ equity
|
77,000,558
|
62,498,841
|
03.31.2019
|
03.31.2018
|
|||||||
Three months period
|
||||||||
Sale of products
|
7,437,463,690
|
7,087,304,978
|
||||||
Domestic market
|
7,431,937,919
|
7,083,154,577
|
||||||
External market
|
5,525,771
|
4,150,401
|
||||||
Services rendered
|
394,588,603
|
415,037,164
|
||||||
(-) Bonuses / Discounts
|
(394,470,699
|
)
|
(326,361,151
|
)
|
||||
Total
|
7,437,581,594
|
7,175,980,991
|
03.31.2019
|
03.31.2018
|
|||||||||||||||
Three months period
|
||||||||||||||||
Inventories at the beginning of the year
|
4,979,789,979
|
4,281,792,365
|
||||||||||||||
Finished products
|
433,059,255
|
230,607,880
|
||||||||||||||
Products in progress
|
1,203,531,110
|
1,027,466,205
|
||||||||||||||
Raw materials, materials, fuels and inventory in transit
|
3,343,199,614
|
3,023,718,280
|
||||||||||||||
Exchange difference
|
26,449,584
|
(84,970,728
|
)
|
|||||||||||||
Production purchases and expenses of the period
|
5,858,205,005
|
5,979,417,452
|
||||||||||||||
Inventories at the end of the period
|
5,571,462,628
|
4,667,359,286
|
||||||||||||||
Finished products
|
368,681,473
|
359,991,440
|
||||||||||||||
Products in progress
|
1,570,130,584
|
1,173,226,057
|
||||||||||||||
Raw materials, materials, fuels and inventory in transit
|
3,632,650,571
|
3,134,141,789
|
||||||||||||||
Cost of sales
|
5,292,981,940
|
5,508,879,803
|
03.31.2019
|
03.31.2018
|
|||||||
Three months period
|
||||||||
Fees and service fees
|
97,549,444
|
97,737,024
|
||||||
Salaries, wages and social security contributions
|
897,380,450
|
931,440,602
|
||||||
Personnel transport and travel expenses
|
37,114,535
|
38,997,941
|
||||||
Data processing
|
5,054,259
|
2,264,618
|
||||||
Taxes, contributions and commissions
|
105,557,577
|
91,376,844
|
||||||
Depreciation and amortizations
|
613,030,741
|
684,578,911
|
||||||
Preservation and maintenance
|
594,000,837
|
532,392,035
|
||||||
Communications
|
5,106,118
|
4,419,247
|
||||||
Rent
|
19,797,075
|
14,614,867
|
||||||
Personnel benefits
|
18,927,141
|
18,927,576
|
||||||
Electricity, gas and water services
|
1,472,301
|
1,379,402
|
||||||
Freight
|
398,070,455
|
586,329,462
|
||||||
Fuels
|
783,938,190
|
843,286,377
|
||||||
Insurance
|
14,317,625
|
10,135,324
|
||||||
Packaging
|
169,563,939
|
170,647,353
|
||||||
Electricity
|
600,345,085
|
512,675,877
|
||||||
Contractors
|
434,736,328
|
395,367,838
|
||||||
Tolls
|
768,010
|
1,321,513
|
||||||
Royalties
|
5,073,106
|
5,801,418
|
||||||
Surveillance
|
30,811,137
|
38,520,757
|
||||||
Other
|
69,652,447
|
56,383,106
|
||||||
Total
|
4,902,266,800
|
5,038,598,092
|
03.31.2019
|
03.31.2018
|
|||||||
Three months period
|
||||||||
Managers, directors and statutory auditors’ fees
|
72,604,694
|
31,476,931
|
||||||
Fees and service fees
|
54,009,262
|
30,201,277
|
||||||
Salaries, wages and social security contributions
|
207,462,136
|
169,637,873
|
||||||
Personnel transport and travel expenses
|
6,087,923
|
6,648,084
|
||||||
Data processing
|
6,740,269
|
7,381,444
|
||||||
Advertising expenses
|
12,345,161
|
9,228,452
|
||||||
Taxes, contributions and commissions
|
140,637,974
|
145,941,091
|
||||||
Depreciation and amortizations
|
32,314,922
|
39,202,636
|
||||||
Preservation and maintenance
|
2,760,306
|
1,813,500
|
||||||
Communications
|
5,999,865
|
4,646,626
|
||||||
Rent
|
6,289,983
|
7,994,087
|
||||||
Personnel benefits
|
3,377,382
|
8,138,431
|
||||||
Electricity, gas and water services
|
876,685
|
729,269
|
||||||
Freight
|
53,451,624
|
67,903,124
|
||||||
Insurance
|
8,366,679
|
7,397,821
|
||||||
Allowance for bad debts
|
341,771
|
(8,171
|
)
|
|||||
Surveillance
|
1,220,069
|
1,143,769
|
||||||
Other
|
11,140,905
|
11,141,551
|
||||||
Total
|
626,027,610
|
550,617,795
|
03.31.2019
|
03.31.2018
|
|||||||
Three months period
|
||||||||
Donations
|
(3,164,045
|
)
|
(2,105,025
|
)
|
||||
Contingencies
|
(6,895,738
|
)
|
(2,252,086
|
)
|
||||
Rent
|
9,598,997
|
10,654,326
|
||||||
Miscellaneous
|
(1,637,342
|
)
|
(469,684
|
)
|
||||
Total
|
(2,098,128
|
)
|
5,827,531
|
Three months period
|
03.31.2019
|
03.31.2018
|
||||||
From exchange differences
|
||||||||
Income from exchange differences
|
9,321,852
|
-
|
||||||
Expenses for exchange differences
|
(170,200,793
|
)
|
(68,708,600
|
)
|
||||
Total
|
(160,878,941
|
)
|
(68,708,600
|
)
|
||||
Financial income
|
||||||||
Interest from temporary investments
|
-
|
2,987,263
|
||||||
Interest from leases
|
4,956,603
|
-
|
||||||
Updates
|
19,882,059
|
-
|
||||||
Total
|
24,838,662
|
2,987,263
|
||||||
Financial expenses
|
||||||||
Interest expenses
|
(99,195,418
|
)
|
(119,468,810
|
)
|
||||
Tax interest
|
(31,162,215
|
)
|
(209,543
|
)
|
||||
Interest from temporary investments
|
(23,828,059
|
)
|
-
|
|||||
Interest from loans to related parties
|
-
|
(4,573,773
|
)
|
|||||
Restatement on liabilities
|
(9,229,555
|
)
|
(1,997,579
|
)
|
||||
Other
|
(38,054,634
|
)
|
(18,498,859
|
)
|
||||
Total
|
(201,469,881
|
)
|
(144,748,564
|
)
|
03.31.2019
|
03.31.2018
|
|||||||
Income/(loss) before income tax
|
1,271,052,117
|
947,236,298
|
||||||
Statutory rate (*)
|
30
|
%
|
30
|
%
|
||||
Income tax at statutory rate
|
(381,315,635
|
)
|
(284,170,889
|
)
|
||||
Adjustments for calculation of the effective income tax:
|
||||||||
Effect of different rates of foreign subsidiaries (*)
|
32,467,043
|
20,657,106
|
||||||
Effect of tax revaluation
|
291,635,196
|
-
|
||||||
Effect of change in deferred tax rate
|
(10,672,035
|
)
|
91,396,081
|
|||||
Restatement in homogeneous currency
|
(139,082,136
|
)
|
(54,611,178
|
)
|
||||
Other permanent differences
|
3,139,162
|
2,099,087
|
||||||
Total income tax
|
(203,828,405
|
)
|
(224,629,793
|
)
|
||||
INCOME TAX
|
||||||||
Current
|
(342,192,821
|
)
|
(315,343,594
|
)
|
||||
Deferred
|
138,364,416
|
90,713,801
|
||||||
Total
|
(203,828,405
|
)
|
(224,629,793
|
)
|
03.31.2019
|
12.31.2018
|
|||||||
Assets
|
||||||||
Tax losses
|
149,765,726
|
152,393,594
|
||||||
Provisions
|
-
|
17,528,564
|
||||||
Accounts payable
|
3,527,401
|
-
|
||||||
Trade accounts receivable
|
-
|
1,050,762
|
||||||
Other
|
13,316,995
|
6,493,251
|
||||||
Total assets
|
166,610,122
|
177,466,171
|
Liabilities
|
||||||||
Investments
|
(3,438,051
|
)
|
(3,258,609
|
)
|
||||
Property, plant, and equipment
|
(3,192,987,015
|
)
|
(3,374,069,485
|
)
|
||||
Other receivables
|
(34,402,649
|
)
|
(23,875,447
|
)
|
||||
Inventories
|
(343,615,519
|
)
|
(317,991,054
|
)
|
||||
Other
|
(15,004,618
|
)
|
(19,635,160
|
)
|
||||
Total liabilities
|
(3,589,447,852
|
)
|
(3,738,829,755
|
)
|
||||
Total deferred liabilities
|
(3,422,837,730
|
)
|
(3,561,363,584
|
)
|
03.31.2019
|
03.31.2018
|
|||||||
Net profit attributable to owners of the parent used in the calculation of basic and diluted earnings per share
|
1,013,880,370
|
670,866,044
|
||||||
Weighted average number of common shares for the purposes of basic and diluted earnings per share (all measurements)
|
596,026,490
|
596,026,490
|
||||||
Basic and diluted earnings per share
|
1.7011
|
1.1256
|
03.31.2019
|
12.31.2018
|
|||||||
Cost
|
61,363,017,771
|
58,596,479,882
|
||||||
Accumulated depreciation
|
(34,759,263,974
|
)
|
(34,141,720,722
|
)
|
||||
Total
|
26,603,753,797
|
24,454,759,160
|
||||||
Land
|
365,492,321
|
365,593,422
|
||||||
Buildings
|
5,685,347,713
|
5,728,365,546
|
||||||
Machinery and equipment
|
10,914,309,831
|
11,050,361,494
|
||||||
Transport and freight vehicles
|
1,303,739,068
|
1,358,593,675
|
||||||
Furniture and fixtures
|
41,594,980
|
45,336,457
|
||||||
Quarries
|
2,252,366,423
|
2,192,954,550
|
||||||
Tools
|
29,635,902
|
30,259,029
|
||||||
Works in progress
|
6,011,267,559
|
3,683,294,987
|
||||||
Total
|
26,603,753,797
|
24,454,759,160
|
03.31.2019
|
12.31.2018
|
|||||||
Non-current
|
||||||||
Spare parts
|
780,805,655
|
789,270,824
|
||||||
Allowance for obsolete inventories
|
(33,590,210
|
)
|
(32,233,801
|
)
|
||||
Total
|
747,215,445
|
757,037,023
|
||||||
Current
|
||||||||
Finished products
|
368,681,473
|
433,059,255
|
||||||
Products in progress
|
1,570,130,584
|
1,203,531,110
|
||||||
Raw materials, materials and spare parts
|
2,241,828,033
|
2,084,530,422
|
||||||
Fuels
|
643,607,093
|
501,632,169
|
||||||
Total
|
4,824,247,183
|
4,222,752,956
|
03.31.2019
|
12.31.2018
|
|||||||
Other related parties:
|
||||||||
InterCement Brasil S.A.
|
||||||||
Accounts payable
|
(48,103,518
|
)
|
(79,050,966
|
)
|
||||
Cimpor Trading e Inversiones S.A.
|
||||||||
Other receivables
|
17,442,200
|
4,684,300
|
||||||
Accounts payable
|
(9,126,878
|
)
|
(8,966,822
|
)
|
||||
InterCement Portugal S.A.
|
||||||||
Accounts payable
|
(204,837,429
|
)
|
(211,659,752
|
)
|
||||
Loma Negra Holding GmbH
|
||||||||
Other receivables
|
4,897,103
|
5,473,892
|
03.31.2019
|
12.31.2018
|
|||||||
Other receivables
|
22,339,303
|
10,158,192
|
||||||
Accounts payable
|
(262,067,825
|
)
|
(299,677,540
|
)
|
03.31.2019
|
12.31.2018
|
|||||||
InterCement Brasil S.A. – interest and exchange differences
|
2,946,015
|
-
|
||||||
InterCement Brasil S.A. – purchase of goods and services
|
(14,132,376
|
)
|
(15,572,848
|
)
|
||||
Cimpor Trading e Inversiones S.A. - exchange differences
|
827,028
|
(5,026,074
|
)
|
|||||
Cimpor Trading e Inversiones S.A. - purchase of goods and services
|
-
|
(55,479,304
|
)
|
|||||
Cimpor Trading e Inversiones S.A. – sale of services
|
11,743,015
|
-
|
||||||
InterCement Portugal S.A. – exchange differences
|
(2,907,797
|
)
|
11,603,952
|
|||||
InterCement Portugal S.A.– services received
|
(64,473,258
|
)
|
(61,974,736
|
)
|
||||
Sacopor S.A. – exchange difference
|
-
|
(255,537
|
)
|
03.31.2019
|
12.31.2018
|
|||||||
Non-current
|
||||||||
Tax credits
|
61,706,496
|
96,832,480
|
||||||
Contributions to the trust “Fondo Fiduciario para el Fortalecimiento del Sistema Ferroviario Interurbano” (F.F.F.S.F.I.)
|
77,000,559
|
62,498,841
|
||||||
Expenses paid in advance
|
65,587,334
|
52,977,100
|
||||||
Advance to suppliers
|
729,393,319
|
835,556,427
|
||||||
Security deposits
|
4,825,365
|
5,349,734
|
||||||
Total
|
938,513,073
|
1,053,214,582
|
03.31.2019
|
12.31.2018
|
|||||||
Current
|
||||||||
Tax credits
|
158,463,156
|
145,350,106
|
||||||
Receivables from related parties (Note 14)
|
22,339,303
|
10,158,192
|
||||||
Expenses paid in advance
|
117,519,803
|
85,073,303
|
||||||
Security deposits
|
1,393,412
|
5,496,021
|
||||||
Reimbursement receivable
|
21,409,988
|
21,388,698
|
||||||
Advances to suppliers
|
17,814,459
|
28,700,554
|
||||||
Personnel loans
|
6,404,862
|
9,132,969
|
||||||
Balance receivable from ADSs program
|
87,183,958
|
85,983,212
|
||||||
Receivables from sale of property, plant and equipment
|
20,321,044
|
26,817,929
|
||||||
Miscellaneous
|
21,090,123
|
10,333,136
|
||||||
Total
|
473,940,108
|
428,434,120
|
03.31.2019
|
01.01.2019
|
|||||||
Assets for right to use
|
308,636,371
|
322,087,805
|
||||||
Lease payables
|
278,319,333
|
322,087,805
|
03.31.2019
|
12.31.2018
|
|||||||
Non-current
|
||||||||
Regular debtors
|
9,732,669
|
10,013,666
|
||||||
Allowance for bad debts
|
(5,727,765
|
)
|
(5,487,385
|
)
|
||||
Total
|
4,004,904
|
4,526,281
|
||||||
Current
|
||||||||
Regular debtors
|
2,534,944,528
|
2,156,218,216
|
||||||
Loan with U.E.P.F.P. - Ferrosur Roca S.A.
|
137,081,760
|
148,714,438
|
||||||
Accounts receivable in litigation
|
19,739,773
|
22,122,287
|
||||||
Notes receivable
|
2,690,607
|
202,258
|
||||||
Foreign customers
|
5,247,396
|
3,631,158
|
||||||
Subtotal
|
2,699,704,064
|
2,330,888,357
|
||||||
Allowance for bad debts
|
(21,014,602
|
)
|
(23,085,049
|
)
|
||||
Total
|
2,678,689,462
|
2,307,803,308
|
Non-current
|
03.31.2019
|
12.31.2018
|
||||||
Investments in other companies
|
||||||||
- Cementos del Plata S.A.
|
1,857,735
|
1,857,735
|
||||||
Total
|
1,857,735
|
1,857,735
|
||||||
Current
|
||||||||
Short-term investments:
|
||||||||
- Mutual investment fund in pesos
|
220,078,939
|
332,832,126
|
||||||
- Certificate of deposit in pesos
|
-
|
939,899,592
|
||||||
- Investments in foreign currency
|
416,193,180
|
1,067,775,319
|
||||||
- Miscellaneous
|
-
|
1,414,398
|
||||||
Total
|
636,272,119
|
2,341,921,435
|
03.31.2019
|
12.31.2018
|
|||||||
Capital
|
59,602,649
|
59,602,649
|
||||||
Capital adjustment
|
2,505,050,499
|
2,505,050,499
|
||||||
Share premium
|
4,630,891,823
|
4,630,891,823
|
||||||
Merger premium
|
836,529,466
|
836,529,466
|
||||||
Total
|
8,032,074,437
|
8,032,074,437
|
Common shares with a nominal value of $0.10 each,
|
||||||||
each entitling to 1 vote, fully paid-in
|
596,026,490
|
596,026,490
|
03.31.2019
|
12.31.2018
|
|||||||
Exchange differences for transactions in foreign
currency
|
||||||||
Balances at the beginning of the year
|
306,819,562
|
37,903,788
|
||||||
Difference due to conversion of transactions in foreign currency
|
(4,836,599
|
)
|
268,915,774
|
|||||
Balances at closing
|
301,982,963
|
306,819,562
|
03.31.2019
|
12.31.2018
|
|||||||
Loans
|
||||||||
In foreign currency
|
5,494,854,934
|
5,653,610,349
|
||||||
In local currency
|
909,254,032
|
1,011,361,662
|
||||||
Total
|
6,404,108,966
|
6,664,972,011
|
||||||
Non-current loans
|
2,831,317,359
|
2,914,458,913
|
||||||
Current loans
|
3,572,791,607
|
3,750,513,098
|
||||||
Total
|
6,404,108,966
|
6,664,972,011
|
03.31.2019
|
12.31.2018
|
|||||||
Company
|
Ref.
|
Rate
|
Maturity
|
Amount
|
Amount
|
|||
Loans in foreign currency - USD
|
||||||||
Industrial and Commercial Bank of China
|
Loma Negra C.I.A.S.A.
|
(1)
|
6 Months Libor + 4.25%
|
Mar-21
|
103,138,853
|
-
|
||
Banco Latinoamericano de Comercio Exterior S.A.
|
Ferrosur Roca S.A.
|
3 Months Libor + 1.95%
|
Aug-19
|
659,323,993
|
636,512,139
|
|||
Industrial and Commercial Bank of China (Dubai) | Loma Negra C.I.A.S.A. |
3 Months Libor + 3.75%
|
May-20
|
1,712,683,022
|
1,652,832,033
|
|||
Industrial and Commercial Bank of China (Dubai) | Loma Negra C.I.A.S.A. |
3 Months Libor + 3.4%
|
Jun-19
|
437,061,067
|
421,105,473
|
|||
Loans in
foreign currency – Guarani
|
||||||||
Banco Continental S.A.E.C.A.
|
Yguazú Cementos S.A.
|
8.5%
|
Aug-25
|
1,559,126,252
|
1,725,739,873
|
|||
Sudameris Bank S.A.E.C.A.
|
Yguazú Cementos S.A.
|
9.0%
|
Aug-25
|
1,023,521,747
|
1,134,433,999
|
|||
Banco Itaú Paraguay S.A.
|
Yguazú Cementos S.A.
|
-
|
-
|
-
|
82,986,830
|
|||
Total loans in foreign currency
|
5,494,854,934
|
5,653,610,347
|
||||||
Loans in local currency
|
||||||||
Banco Provincia de Buenos Aires
|
Loma Negra C.I.A.S.A.
|
BADLAR + 2%
|
Mar-19
|
-
|
20,116,153
|
|||
Banco Provincia de Buenos Aires
|
Loma Negra C.I.A.S.A.
|
BADLAR + 2%
|
Jun-19
|
18,361,482
|
41,256,483
|
|||
Banco Provincia de Buenos Aires
|
Loma Negra C.I.A.S.A.
|
BADLAR + 2%
|
July-19
|
3,192,840
|
6,253,123
|
|||
HSBC Bank Argentina S.A.
|
Loma Negra C.I.A.S.A.
|
21.75%
|
Apr-19
|
157,686,986
|
176,459,458
|
|||
HSBC Bank Argentina S.A.
|
Ferrosur Roca S.A.
|
21.75%
|
Apr-19
|
157,686,986
|
176,459,458
|
|||
Advances in checking account
|
Loma Negra C.I.A.S.A.
|
51.80%
|
Apr-19
|
7,023,637
|
5,804,088
|
|||
Advances in checking account
|
Recycomb S.A.U.U.
|
-
|
-
|
-
|
7,221,675
|
|||
Advances in checking account
|
Ferrosur Roca S.A.
|
50.70%
|
Apr-19
|
565,302,101
|
577,791,226
|
|||
Total loans in local currency
|
909,254,032
|
1,011,361,664
|
||||||
Total
|
6,404,108,966
|
6,664,972,011
|
03.31.2019
|
12.31.2018
|
|||||||
Total of loans by company:
|
||||||||
Loma Negra C.I.A.S.A.
|
2,439,147,887
|
2,323,826,811
|
||||||
Ferrosur Roca S.A.
|
1,382,313,080
|
1,390,762,823
|
||||||
Recycomb S.A.U.
|
-
|
7,221,675
|
||||||
Yguazú Cementos S.A.
|
2,582,647,999
|
2,943,160,702
|
||||||
Total
|
6,404,108,966
|
6,664,972,011
|
(1)
|
In March 2019, Loma Negra executed a loan agreement with the Industrial and Commercial Bank of China for a total amount of USD
2,559,014 to be cancelled in March 2021, accruing a variable nominal rate based on the LIBO rate payable every six months.
|
Balances as of January 1, 2019
|
6,664,972,011
|
|||
New loans and financing
|
248,125,570
|
|||
Interest accrued
|
99,195,418
|
|||
Exchange difference
|
(35,181,172
|
)
|
||
Effects of exchange differences
|
96,743,062
|
|||
Interest payments
|
(256,642,596
|
)
|
||
Principal payments
|
(413,103,327
|
)
|
||
Balances as of March 31, 2019
|
6,404,108,966
|
Fiscal year
|
||||
2020
|
759,962,834
|
|||
2021
|
502,757,653
|
|||
2022
|
392,149,218
|
|||
2023 onwards
|
1,176,447,654
|
|||
Total
|
2,831,317,359
|
03.31.2019
|
12.31.2018
|
|||||||
Non-current
|
||||||||
Accounts payable for investments in property, plant and equipment
|
98,358,970
|
432,762,539
|
||||||
Total
|
98,358,970
|
432,762,539
|
||||||
Current
|
||||||||
Suppliers
|
2,237,010,010
|
2,313,779,222
|
||||||
Related parties (Note 14)
|
262,067,825
|
299,677,540
|
||||||
Accounts payable for investments in property, plant and equipment and intangible assets
|
3,182,754,660
|
1,855,943,663
|
||||||
Provisions for expenses
|
775,367,309
|
955,446,301
|
||||||
Total
|
6,457,199,804
|
5,424,846,726
|
03.31.2019
|
12.31.2018
|
|||||||
Non-current
|
||||||||
Labor and social security
|
54,667,029
|
53,439,460
|
||||||
Environmental
|
182,787,384
|
208,041,479
|
||||||
Civil and others
|
62,182,159
|
65,621,406
|
||||||
Total
|
299,636,572
|
327,102,345
|
Labor and
social security
|
Environmental
|
Civil and others
|
Total
|
|||||||||||||
Balances as of January 1, 2019
|
53,439,460
|
208,041,479
|
65,621,406
|
327,102,345
|
||||||||||||
Increases
|
9,502,463
|
-
|
4,542,549
|
14,045,012
|
||||||||||||
Uses (*)
|
(8,274,894
|
)
|
(25,254,095
|
)
|
(7,981,796
|
)
|
(41,510,785
|
)
|
||||||||
Balances as of March 31, 2019
|
54,667,029
|
182,787,384
|
62,182,159
|
299,636,572
|
03.31.2019
|
12.31.2018
|
|||||||
Current
|
||||||||
Income tax
|
542,829,833
|
411,591,751
|
||||||
Value added tax
|
115,586,421
|
105,446,860
|
||||||
Gross revenues
|
61,183,355
|
52,640,217
|
||||||
Other taxes, withholdings and collections
|
135,242,332
|
301,688,216
|
||||||
Total
|
854,841,941
|
871,367,044
|
03.31.2019
|
12.31.2018
|
|||||||
Cash and banks
|
860,254,707
|
901,723,964
|
||||||
Short-term investments (Note 18)
|
636,272,119
|
2,341,921,435
|
||||||
Cash and cash equivalents
|
1,496,526,826
|
3,243,645,399
|
03.31.2019
|
12.31.2018
|
|||||||
Debt (i)
|
6,404,108,966
|
6,664,972,011
|
||||||
Cash and cash equivalents
|
1,496,526,826
|
3,243,645,399
|
||||||
Net debt
|
4,907,582,140
|
3,421,326,612
|
||||||
Shareholders’ equity (ii)
|
19,560,638,645
|
18,502,898,143
|
||||||
Net debt to equity ratio and shareholders’ equity
|
0.25
|
0.18
|
(i)
|
Debt is defined as long and short-term loans.
|
(ii)
|
Shareholders’ equity includes all the Group's reserves and capital managed as capital.
|
03.31.2019
|
12.31.2018
|
|||||||
Financial assets
|
||||||||
At amortized cost: | ||||||||
Cash and banks
|
860,254,707
|
901,723,964
|
||||||
Investments
|
416,193,015
|
2,009,089,309
|
||||||
Accounts receivable
|
2,861,257,559
|
2,477,856,512
|
||||||
At fair value through income/(loss):
|
||||||||
Investments
|
220,079,104
|
332,832,126
|
03.31.2019
|
12.31.2018
|
|||||||
Financial liabilities
|
||||||||
Amortized cost
|
14,882,585,755
|
14,156,950,139
|
03.31.2019
|
12.31.2018
|
|||||||
Liabilities
|
||||||||
United States Dollars
|
4,655,009,643
|
4,266,842,181
|
||||||
Guaraníes
|
2,790,070,151
|
3,148,674,560
|
||||||
Euro
|
786,164,644
|
388,467,117
|
||||||
Real
|
28,409
|
27,509
|
||||||
Assets
|
||||||||
United States Dollars
|
715,413,862
|
1,257,647,857
|
||||||
Guaraníes
|
881,420,350
|
1,010,067,161
|
||||||
Euro
|
1,065,152
|
1,219,552
|
||||||
Real
|
112,563
|
99,840
|
Effect of US Dollars
|
Effect of the Guaraní
|
||
03.31.2019
|
03.31.2019
|
||
Income/(Loss)
|
984,899
|
-
|
|
Shareholder's Equity
|
984,899
|
734,432
|
03.31.2019
|
03.31.2018
|
|||||||
- Payments of Property, plant and equipment
|
929,003,102
|
13,221,195
|
03.31.2019
|
03.31.2018
|
|||||||
Net revenues from sales
|
||||||||
Cement, masonry and lime – Argentina
|
5,172,003,628
|
3,399,805,657
|
||||||
Cement – Paraguay
|
702,947,120
|
345,910,327
|
||||||
Concrete
|
1,185,613,943
|
706,721,507
|
||||||
Railroad
|
656,288,571
|
440,596,645
|
||||||
Aggregates
|
125,799,016
|
68,301,269
|
||||||
Other
|
31,523,545
|
25,132,894
|
||||||
Eliminations
|
(742,090,408
|
)
|
(452,636,842
|
)
|
||||
Total
|
7,132,085,415
|
4,533,831,457
|
||||||
Reconciliation - Effect of restatement in homogeneous currency
|
305,496,179
|
2,642,149,534
|
||||||
Total
|
7,437,581,594
|
7,175,980,991
|
Cost of sales
|
03.31.2019
|
03.31.2018
|
||||||
Cement, masonry and lime – Argentina
|
3,251,501,971
|
2,278,017,397
|
||||||
Cement – Paraguay
|
471,607,166
|
236,884,823
|
||||||
Concrete
|
1,062,291,028
|
675,629,127
|
||||||
Railroad
|
586,575,178
|
413,503,603
|
||||||
Aggregates
|
136,321,450
|
67,712,692
|
||||||
Other
|
18,001,533
|
13,898,413
|
||||||
Eliminations
|
(742,090,408
|
)
|
(452,636,842
|
)
|
||||
Total
|
4,784,207,918
|
3,233,009,213
|
||||||
Reconciliation - Effect of restatement in homogeneous currency
|
508,774,022
|
2,275,870,590
|
||||||
Total
|
5,292,981,940
|
5,508,879,803
|
Selling, administrative expenses and other
expenses
|
03.31.2019
|
03.31.2018
|
||||||
Cement, masonry and lime – Argentina
|
455,686,625
|
243,486,224
|
||||||
Cement – Paraguay
|
22,718,028
|
13,370,246
|
||||||
Concrete
|
35,185,606
|
23,779,136
|
||||||
Railroad
|
44,991,579
|
32,432,430
|
||||||
Aggregates
|
1,833,813
|
1,256,099
|
||||||
Other
|
11,238,349
|
8,914,589
|
||||||
Total
|
571,654,000
|
323,238,724
|
||||||
Reconciliation - Effect of restatement in homogeneous currency
|
56,471,738
|
221,551,540
|
||||||
Total
|
628,125,738
|
544,790,264
|
Depreciation and amortizations
|
03.31.2019 | 03.31.2018 | ||||||
Cement, masonry and lime – Argentina
|
179,230,011
|
97,170,443
|
||||||
Cement – Paraguay
|
105,389,033
|
54,510,055
|
||||||
Concrete
|
10,723,294
|
7,793,560
|
||||||
Railroad
|
41,583,292
|
27,031,722
|
||||||
Aggregates
|
4,362,369
|
1,718,962
|
||||||
Other
|
761,640
|
648,252
|
||||||
Total
|
342,049,639
|
188,872,994
|
||||||
Reconciliation - Effect of restatement in homogeneous currency
|
277,294,766
|
500,782,461
|
||||||
Total
|
619,344,405
|
689,655,455
|
Net revenues from sales minus cost of sales,
selling and administrative expenses, and other income and expenses
|
03.31.2019
|
03.31.2018
|
||||||
Cement, masonry and lime – Argentina
|
1,464,815,032
|
878,302,036
|
||||||
Cement – Paraguay
|
208,621,926
|
95,655,258
|
||||||
Concrete
|
88,137,309
|
7,313,244
|
||||||
Railroad
|
24,721,814
|
(5,339,388
|
)
|
|||||
Aggregates
|
(12,356,247
|
)
|
(667,523
|
)
|
||||
Other
|
2,283,663
|
2,319,893
|
||||||
Total
|
1,776,223,497
|
977,583,520
|
||||||
Reconciliation - Effect of restatement in homogeneous currency
|
(259,749,581
|
)
|
144,727,404
|
|||||
Total
|
1,516,473,916
|
1,122,310,924
|
||||||
Reconciling items:
|
||||||||
Tax on bank debits and credits
|
(110,997,236
|
)
|
(102,225,618
|
)
|
||||
Net financial income/(loss)
|
(134,424,563
|
)
|
(72,849,008
|
)
|
||||
Income tax
|
(203,828,405
|
)
|
(224,629,793
|
)
|
||||
Net income
|
1,067,223,712
|
722,606,505
|
Geographical information
|
03.31.2019
|
12.31.2018
|
||||||
Non-current assets
|
||||||||
Argentina
|
24,400,225,302
|
21,930,927,220
|
||||||
Paraguay
|
4,459,961,164
|
4,603,271,401
|
03.31.2019
|
03.31.2018
|
|||||||
Current assets
|
9,473,403,579
|
10,524,761,292
|
||||||
Non-current assets
|
28,860,186,466
|
22,339,527,755
|
||||||
Total assets
|
38,333,590,045
|
32,864,289,047
|
||||||
Current liabilities
|
11,823,923,967
|
8,526,320,542
|
||||||
Non-current liabilities
|
6,949,027,433
|
7,809,957,500
|
||||||
Total liabilities
|
18,772,951,400
|
16,336,278,042
|
||||||
Non-controlling interests
|
1,585,175,054
|
1,166,354,018
|
||||||
Shareholders’ equity attributable to owners of the parent company
|
17,975,463,591
|
15,361,656,987
|
||||||
Total shareholders’ equity
|
19,560,638,645
|
16,528,011,005
|
03.31.2019
|
03.31.2018
|
|||||||
Gross income
|
2,144,599,654
|
1,667,101,188
|
||||||
Selling and administrative expenses
|
(626,027,610
|
)
|
(550,617,795
|
)
|
||||
Other net income and expenses
|
(2,098,128
|
)
|
5,827,531
|
|||||
Tax on bank debits and credits
|
(110,997,236
|
)
|
(102,225,618
|
)
|
||||
Net financial income/(loss)
|
(134,424,563
|
)
|
(72,849,008
|
)
|
||||
Income/(loss) before income tax
|
1,271,052,117
|
947,236,298
|
||||||
Income tax
|
(203,828,405
|
)
|
(224,629,793
|
)
|
||||
Net income for the period
|
1,067,223,712
|
722,606,505
|
||||||
Net income for the period attributable to:
|
||||||||
Owners of the parent company
|
1,013,880,370
|
670,866,044
|
||||||
Non-controlling interests
|
53,343,342
|
51,740,461
|
||||||
Other comprehensive income
|
||||||||
Due to exchange differences
|
(9,483,210
|
)
|
10,099,565
|
|||||
Total other comprehensive income for the period
|
(9,483,210
|
)
|
10,099,565
|
|||||
Total comprehensive income for the period
|
1,057,740,502
|
732,706,070
|
03.31.2019
|
03.31.2018
|
|||||||
Net cash flows generated from/(applied to) operating activities
|
557,571,286
|
(83,843,062
|
)
|
|||||
Funds allocated to investing activities
|
(1,904,363,668
|
)
|
(1,407,819,882
|
)
|
||||
Funds allocated to financing activities
|
(421,620,353
|
)
|
(246,891,205
|
)
|
||||
Total funds applied during the period
|
(1,768,412,735
|
)
|
(1,738,554,149
|
)
|
03.31.2019
|
03.31.2018
|
|||||||
Production volume (*)
|
1,521,207
|
1,709,128
|
||||||
Sales volume (*)
|
||||||||
Argentina
|
1,367,962
|
1,580,773
|
||||||
Paraguay
|
150,621
|
139,753
|
||||||
Abroad
|
1,607
|
1,607
|
||||||
Total
|
1,522,190
|
1,722,133
|
03.31.2019
|
03.31.2018
|
|||||||
Liquidity
|
0.80
|
1.23
|
||||||
Creditworthiness
|
1.04
|
1.01
|
||||||
Fixed capital
|
0.75
|
0.68
|
Date: May 28, 2019 |
By: |
/s/ Marcos I. Gradin |
|
Name: |
Marcos I. Gradin |
|
Title: |
Chief Financial Officer |