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IRSA Inversiones y Representaciones SA










Financial Health of Irsa




Comparing to competitors in the Conglomerates industry




  Industry Rankings  


IRSA Inversiones y Representaciones SA
Buy, Hold or Sell?

Should you buy, hold or sell Irsa?

I guess you are interested in IRSA Inversiones y Representaciones SA. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

Let's analyse Irsa

Let's start. I'm going to help you getting a better view of IRSA Inversiones y Representaciones SA. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

  1. Company's Financial Health
    A deep dive into the books. How are the numbers doing? Is IRSA Inversiones y Representaciones SA even making a profit? Is the company skyrocketing? Or is it sinking like the Titanic. The trend is your friend.
  2. Market Valuation
    Finally, you now have an insight of how IRSA Inversiones y Representaciones SA is doing in the market. If the company is worth buying. The latest step is to find out how other investors value IRSA Inversiones y Representaciones SA. The closing price on 2022-12-06 was ARS156.00 per share. Is the company over- or underpriced?
  3. Key Performance Indicators
    A total overlook on how the company is doing. Based on the (trends in) the key performance indicators.
IRSA Inversiones y Representaciones SA Daily Candlestick Chart

Summary

Financial Health

Profitability Details
 Compared to previous yearCompared to industry
The company is making a huge profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is less efficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating very efficient.
The company is less efficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is unable to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is able to pay all its debts by selling its assets.
The company is just able to pay all its debts with equity.

1.1. Profitability of IRSA Inversiones y Representaciones SA.

1.1. Profitability
1.1.1. Net Profit Margin

Measures how much net profit Irsa earns for each $1 of revenue.

  • Above 10% is considered healthy but always compare Irsa to the Conglomerates industry mean.
  • A Net Profit Margin of 174.9% means that $1.75 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of IRSA Inversiones y Representaciones SA:

  • The MRQ is 174.9%. The company is making a huge profit. +2
  • The TTM is 80.8%. The company is making a huge profit. +2
Trends
Current periodCompared to+/- 
MRQ174.9%TTM80.8%+94.1%
TTM80.8%YOY202.1%-121.3%
TTM80.8%5Y54.4%+26.4%
5Y54.4%10Y40.9%+13.4%
Compared to industry (Conglomerates)
PeriodCompanyIndustry (mean)+/- 
MRQ174.9%3.6%+171.3%
TTM80.8%3.6%+77.2%
YOY202.1%3.1%+199.0%
5Y54.4%2.5%+51.9%
10Y40.9%3.8%+37.1%
1.1.2. Return on Assets

Shows how efficient Irsa is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Irsa to the Conglomerates industry mean.
  • 5.9% Return on Assets means that Irsa generated $0.06 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of IRSA Inversiones y Representaciones SA:

  • The MRQ is 5.9%. Using its assets, the company is efficient in making profit. +1
  • The TTM is 2.2%. Using its assets, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ5.9%TTM2.2%+3.7%
TTM2.2%YOY-3.7%+5.9%
TTM2.2%5Y-0.2%+2.4%
5Y-0.2%10Y0.3%-0.5%
Compared to industry (Conglomerates)
PeriodCompanyIndustry (mean)+/- 
MRQ5.9%0.7%+5.2%
TTM2.2%0.7%+1.5%
YOY-3.7%0.6%-4.3%
5Y-0.2%0.6%-0.8%
10Y0.3%0.6%-0.3%
1.1.3. Return on Equity

Shows how efficient Irsa is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Irsa to the Conglomerates industry mean.
  • 13.9% Return on Equity means Irsa generated $0.14 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of IRSA Inversiones y Representaciones SA:

  • The MRQ is 13.9%. Using its investors money, the company is less efficient in making profit.
  • The TTM is 5.2%. Using its investors money, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ13.9%TTM5.2%+8.7%
TTM5.2%YOY-11.6%+16.9%
TTM5.2%5Y-2.3%+7.6%
5Y-2.3%10Y0.6%-3.0%
Compared to industry (Conglomerates)
PeriodCompanyIndustry (mean)+/- 
MRQ13.9%2.1%+11.8%
TTM5.2%2.2%+3.0%
YOY-11.6%1.7%-13.3%
5Y-2.3%1.6%-3.9%
10Y0.6%1.6%-1.0%

1.2. Operating Efficiency of IRSA Inversiones y Representaciones SA.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Irsa is operating .

  • Measures how much profit Irsa makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Irsa to the Conglomerates industry mean.
  • An Operating Margin of 41.2% means the company generated $0.41  for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of IRSA Inversiones y Representaciones SA:

  • The MRQ is 41.2%. The company is operating very efficient. +2
  • The TTM is 41.0%. The company is operating very efficient. +2
Trends
Current periodCompared to+/- 
MRQ41.2%TTM41.0%+0.1%
TTM41.0%YOY30.8%+10.2%
TTM41.0%5Y16.9%+24.1%
5Y16.9%10Y11.5%+5.4%
Compared to industry (Conglomerates)
PeriodCompanyIndustry (mean)+/- 
MRQ41.2%6.6%+34.6%
TTM41.0%5.4%+35.6%
YOY30.8%4.9%+25.9%
5Y16.9%5.0%+11.9%
10Y11.5%4.2%+7.3%
1.2.2. Operating Ratio

Measures how efficient Irsa is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Conglomerates industry mean).
  • An Operation Ratio of 0.98 means that the operating costs are $0.98 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of IRSA Inversiones y Representaciones SA:

  • The MRQ is 0.975. The company is less efficient in keeping operating costs low.
  • The TTM is 0.976. The company is less efficient in keeping operating costs low.
Trends
Current periodCompared to+/- 
MRQ0.975TTM0.976-0.001
TTM0.976YOY1.315-0.339
TTM0.9765Y1.112-0.136
5Y1.11210Y0.755+0.358
Compared to industry (Conglomerates)
PeriodCompanyIndustry (mean)+/- 
MRQ0.9751.524-0.549
TTM0.9761.517-0.541
YOY1.3151.513-0.198
5Y1.1121.395-0.283
10Y0.7551.152-0.397

1.3. Liquidity of IRSA Inversiones y Representaciones SA.

1.3. Liquidity
1.3.1. Current Ratio

Measures if Irsa is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Conglomerates industry mean).
  • A Current Ratio of 0.28 means the company has $0.28 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of IRSA Inversiones y Representaciones SA:

  • The MRQ is 0.277. The company is unable to pay all its short-term debts. -2
  • The TTM is 0.621. The company is unable to pay all its short-term debts. -2
Trends
Current periodCompared to+/- 
MRQ0.277TTM0.621-0.344
TTM0.621YOY0.435+0.186
TTM0.6215Y0.771-0.150
5Y0.77110Y0.523+0.248
Compared to industry (Conglomerates)
PeriodCompanyIndustry (mean)+/- 
MRQ0.2771.440-1.163
TTM0.6211.433-0.812
YOY0.4351.467-1.032
5Y0.7711.466-0.695
10Y0.5231.297-0.774
1.3.2. Quick Ratio

Measures if Irsa is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Irsa to the Conglomerates industry mean.
  • A Quick Ratio of 0.34 means the company can pay off $0.34 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of IRSA Inversiones y Representaciones SA:

  • The MRQ is 0.339. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.603. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.339TTM0.603-0.264
TTM0.603YOY0.412+0.191
TTM0.6035Y0.444+0.159
5Y0.44410Y0.301+0.143
Compared to industry (Conglomerates)
PeriodCompanyIndustry (mean)+/- 
MRQ0.3390.650-0.311
TTM0.6030.650-0.047
YOY0.4120.634-0.222
5Y0.4440.655-0.211
10Y0.3010.614-0.313

1.4. Solvency of IRSA Inversiones y Representaciones SA.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

Measures how much % of Irsa assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Irsa to Conglomerates industry mean.
  • A Debt to Asset Ratio of 0.54 means that Irsa assets are financed with 54.5% credit (debt) and the remaining percentage (100% - 54.5%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of IRSA Inversiones y Representaciones SA:

  • The MRQ is 0.545. The company is able to pay all its debts by selling its assets. +1
  • The TTM is 0.576. The company is able to pay all its debts by selling its assets. +1
Trends
Current periodCompared to+/- 
MRQ0.545TTM0.576-0.031
TTM0.576YOY0.560+0.016
TTM0.5765Y0.707-0.131
5Y0.70710Y0.703+0.004
Compared to industry (Conglomerates)
PeriodCompanyIndustry (mean)+/- 
MRQ0.5450.567-0.022
TTM0.5760.583-0.007
YOY0.5600.575-0.015
5Y0.7070.570+0.137
10Y0.7030.562+0.141
1.4.2. Debt to Equity Ratio

Measures if Irsa is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Irsa to the Conglomerates industry mean.
  • A Debt to Equity ratio of 127.8% means that company has $1.28 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of IRSA Inversiones y Representaciones SA:

  • The MRQ is 1.278. The company is able to pay all its debts with equity. +1
  • The TTM is 1.574. The company is just able to pay all its debts with equity.
Trends
Current periodCompared to+/- 
MRQ1.278TTM1.574-0.295
TTM1.574YOY1.714-0.141
TTM1.5745Y6.249-4.675
5Y6.24910Y6.551-0.303
Compared to industry (Conglomerates)
PeriodCompanyIndustry (mean)+/- 
MRQ1.2781.437-0.159
TTM1.5741.549+0.025
YOY1.7141.502+0.212
5Y6.2491.511+4.738
10Y6.5511.502+5.049

2. Market Valuation of IRSA Inversiones y Representaciones SA

2. Earnings Per Share
2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Irsa generates.

  • Above 15 is considered overpriced but always compare Irsa to the Conglomerates industry mean.
  • A PE ratio of 3.42 means the investor is paying $3.42 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of IRSA Inversiones y Representaciones SA:

  • The EOD is 5.729. Very good. +2
  • The MRQ is 3.415. Very good. +2
  • The TTM is -23.897. Company is losing money. -2
Trends
Current periodCompared to+/- 
EOD5.729MRQ3.415+2.313
MRQ3.415TTM-23.897+27.312
TTM-23.897YOY-2.372-21.525
TTM-23.8975Y0.572-24.469
5Y0.57210Y553.550-552.978
Compared to industry (Conglomerates)
PeriodCompanyIndustry (mean)+/- 
EOD5.72922.222-16.493
MRQ3.41523.606-20.191
TTM-23.89733.530-57.427
YOY-2.37227.853-30.225
5Y0.57222.677-22.105
10Y553.55023.862+529.688
2.2. Price Earnings to Growth Ratio

Measures the predicted future growth of Irsa.

  • Lower is better.
  • A PEG ratio of 1 means the market price of the stock and the expected future earnings are on par.

Let's take a look of the Price Earnings to Growth Ratio trends of IRSA Inversiones y Representaciones SA:

  • The MRQ is 1.911. Seems overpriced? -1
  • The TTM is 0.537. Good. +1
Trends
Current periodCompared to+/- 
MRQ1.911TTM0.537+1.373
TTM0.537YOY5.253-4.716
TTM0.5375Y-2.287+2.824
5Y-2.28710Y-263.064+260.777
Compared to industry (Conglomerates)
PeriodCompanyIndustry (mean)+/- 
MRQ1.9110.215+1.696
TTM0.5370.160+0.377
YOY5.2530.164+5.089
5Y-2.2870.113-2.400
10Y-263.0640.120-263.184

2. Book Value per Share
2.3. Price to Book Ratio

Measures if the stock price of Irsa is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Conglomerates industry mean).
  • A PB ratio of 0.44 means the investor is paying $0.44 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of IRSA Inversiones y Representaciones SA:

  • The EOD is 0.745. Very good. +2
  • The MRQ is 0.444. Very good. +2
  • The TTM is 0.582. Very good. +2
Trends
Current periodCompared to+/- 
EOD0.745MRQ0.444+0.301
MRQ0.444TTM0.582-0.138
TTM0.582YOY0.512+0.071
TTM0.5825Y0.491+0.091
5Y0.49110Y1.241-0.750
Compared to industry (Conglomerates)
PeriodCompanyIndustry (mean)+/- 
EOD0.7451.027-0.282
MRQ0.4441.027-0.583
TTM0.5821.164-0.582
YOY0.5121.071-0.559
5Y0.4911.023-0.532
10Y1.2410.696+0.545
2. Total Gains per Share

3. Summary

3.1. Key Performance Indicators

The key performance indicators of IRSA Inversiones y Representaciones SA compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share--53.57626.823+100%-12.311+123%7.944+574%7.357+628%
Book Value Growth--0.9960.995+0%0.993+0%0.994+0%0.995+0%
Book Value Per Share--209.310157.217+33%111.305+88%115.845+81%82.432+154%
Book Value Per Share Growth--0.2560.156+64%-0.110+143%0.047+442%0.083+207%
Current Ratio--0.2770.621-55%0.435-36%0.771-64%0.523-47%
Debt To Asset Ratio--0.5450.576-5%0.560-3%0.707-23%0.703-22%
Debt To Equity Ratio--1.2781.574-19%1.714-25%6.249-80%6.551-80%
Dividend Per Share---0.030-100%0.020-100%0.022-100%0.015-100%
Eps--27.23210.653+156%-9.227+134%0.700+3788%0.588+4530%
Eps Growth--1.7876.738-73%-1.233+169%0.586+205%-0.039+102%
Gross Profit Margin--1.0001.0000%1.0000%1.0000%1.0000%
Net Profit Margin--1.7490.808+116%2.021-13%0.544+222%0.409+327%
Operating Margin--0.4120.410+0%0.308+33%0.169+143%0.115+258%
Operating Ratio--0.9750.9760%1.315-26%1.112-12%0.755+29%
Pb Ratio0.745+40%0.4440.582-24%0.512-13%0.491-10%1.241-64%
Pe Ratio5.729+40%3.415-23.897+800%-2.372+169%0.572+497%553.550-99%
Peg Ratio--1.9110.537+256%5.253-64%-2.287+220%-263.064+13867%
Price Per Share156.000+40%93.00088.138+6%56.493+65%55.310+68%42.959+116%
Price To Total Gains Ratio2.912+40%1.73615.251-89%342.788-99%72.190-98%49.629-97%
Profit Growth--100.4652.873+3397%-50.373+150%-5.088+105%28.243+256%
Quick Ratio--0.3390.603-44%0.412-18%0.444-24%0.301+13%
Return On Assets--0.0590.022+167%-0.037+163%-0.002+104%0.003+1907%
Return On Equity--0.1390.052+167%-0.116+184%-0.023+117%0.006+2158%
Revenue Growth--0.9970.9970%0.468+113%0.884+13%0.919+8%
Total Gains Per Share--53.57626.853+100%-12.291+123%7.966+573%7.372+627%
Total Gains Per Share Growth--0.963-4.219+538%15.506-94%-1.252+230%-0.918+195%
Usd Book Value--1001389300.000752165925.000+33%532511875.000+88%554228921.053+81%394376742.293+154%
Usd Book Value Change Per Share--0.3160.158+100%-0.073+123%0.047+574%0.043+628%
Usd Book Value Per Share--1.2350.928+33%0.657+88%0.683+81%0.486+154%
Usd Dividend Per Share---0.000-100%0.000-100%0.000-100%0.000-100%
Usd Eps--0.1610.063+156%-0.054+134%0.004+3788%0.003+4530%
Usd Price Per Share0.920+40%0.5490.520+6%0.333+65%0.326+68%0.253+116%
Usd Profit--130283800.00044958000.000+190%-45714675.000+135%1669700.000+7703%1673364.532+7686%
Usd Revenue--74481600.00044046450.000+69%13382675.000+457%90632694.737-18%71632028.114+4%
Usd Total Gains Per Share--0.3160.158+100%-0.073+123%0.047+573%0.043+627%
 EOD+2 -3MRQTTM+24 -10YOY+25 -95Y+25 -910Y+27 -7

3.2. Fundamental Score

Let's check the fundamental score of IRSA Inversiones y Representaciones SA based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-155.729
Price to Book Ratio (EOD)Between0-10.745
Net Profit Margin (MRQ)Greater than01.749
Operating Margin (MRQ)Greater than00.412
Quick Ratio (MRQ)Greater than10.339
Current Ratio (MRQ)Greater than10.277
Debt to Asset Ratio (MRQ)Less than10.545
Debt to Equity Ratio (MRQ)Less than11.278
Return on Equity (MRQ)Greater than0.150.139
Return on Assets (MRQ)Greater than0.050.059
Total6/10 (60.0%)

3.3. Technical Score

Let's check the technical score of IRSA Inversiones y Representaciones SA based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5075.616
Ma 20Greater thanMa 50132.445
Ma 50Greater thanMa 100127.137
Ma 100Greater thanMa 200122.197
OpenGreater thanClose148.000
Total4/5 (80.0%)



Latest Balance Sheet

Balance Sheet of 2022-06-30. Currency in ARS. All numbers in thousands.

Summary
Total Assets372,792,000
Total Liabilities203,065,000
Total Stockholder Equity158,853,000
 As reported
Total Liabilities 203,065,000
Total Stockholder Equity+ 158,853,000
Total Assets = 372,792,000

Assets

Total Assets372,792,000
Total Current Assets23,979,000
Long-term Assets23,979,000
Total Current Assets
Cash And Cash Equivalents 12,776,000
Short-term Investments 18,440,000
Net Receivables 10,885,000
Total Current Assets  (as reported)23,979,000
Total Current Assets  (calculated)42,101,000
+/- 18,122,000
Long-term Assets
Property Plant Equipment 9,232,000
Goodwill 221,000
Long Term Investments 16,991,000
Intangible Assets 3,158,000
Other Assets 300,771,000
Long-term Assets  (as reported)330,373,000
Long-term Assets  (calculated)330,373,000
+/-0

Liabilities & Shareholders' Equity

Total Current Liabilities86,429,000
Long-term Liabilities116,636,000
Total Stockholder Equity158,853,000
Total Current Liabilities
Short Long Term Debt 61,682,000
Accounts payable 8,524,000
Other Current Liabilities 15,332,000
Total Current Liabilities  (as reported)86,429,000
Total Current Liabilities  (calculated)85,538,000
+/- 891,000
Long-term Liabilities
Long term Debt 13,052,000
Capital Lease Obligations Min Short Term Debt1,228,000
Other Liabilities 102,436,000
Long-term Liabilities  (as reported)116,636,000
Long-term Liabilities  (calculated)116,716,000
+/- 80,000
Total Stockholder Equity
Common Stock805,000
Retained Earnings 66,441,000
Other Stockholders Equity 26,194,000
Total Stockholder Equity (as reported)158,853,000
Total Stockholder Equity (calculated)93,440,000
+/- 65,413,000
Other
Capital Stock35,096,000
Common Stock Shares Outstanding 810,880
Net Debt 61,958,000
Net Invested Capital 233,587,000
Net Tangible Assets 155,474,000
Net Working Capital -44,010,000



Balance Sheet

Currency in ARS. All numbers in thousands.

 Trend2022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-312008-12-312008-09-302008-06-302008-03-312007-12-312007-09-302007-06-302007-03-312006-12-312006-09-302006-06-302006-03-312005-12-312005-09-302005-06-302005-03-312004-12-312004-09-302004-06-302004-03-312003-12-312003-09-302003-06-302002-12-312002-06-302001-12-312001-06-302000-12-31
> Total Assets 
820,987
764,007
717,706
1,144,715
2,080,718
2,052,964
2,033,492
2,115,994
2,095,392
2,202,944
2,216,775
2,346,102
2,408,514
2,524,426
2,567,424
2,622,731
2,632,054
2,740,121
2,761,182
3,099,306
3,677,738
4,144,899
4,241,548
4,155,974
4,198,854
4,471,972
0
4,496,569
4,519,057
4,935,987
5,022,281
5,229,136
5,464,135
5,633,441
5,802,668
6,086,955
6,123,677
6,315,310
6,398,295
6,422,021
6,573,670
6,600,565
7,064,061
7,888,882
8,110,851
8,326,529
8,397,941
8,740,006
9,459,963
9,810,106
9,603,107
9,305,070
9,262,409
10,250,976
10,649,706
133,920,000
156,800,000
159,000,000
162,744,000
166,113,000
166,529,000
231,242,000
239,354,000
260,538,000
279,757,000
335,773,000
488,863,000
427,621,000
491,820,000
474,634,000
518,294,000
501,529,000
525,996,000
627,199,000
200,415,000
200,129,000
0
222,782,000
237,104,000
288,315,000
291,563,000
372,792,000
372,792,000291,563,000288,315,000237,104,000222,782,0000200,129,000200,415,000627,199,000525,996,000501,529,000518,294,000474,634,000491,820,000427,621,000488,863,000335,773,000279,757,000260,538,000239,354,000231,242,000166,529,000166,113,000162,744,000159,000,000156,800,000133,920,00010,649,70610,250,9769,262,4099,305,0709,603,1079,810,1069,459,9638,740,0068,397,9418,326,5298,110,8517,888,8827,064,0616,600,5656,573,6706,422,0216,398,2956,315,3106,123,6776,086,9555,802,6685,633,4415,464,1355,229,1365,022,2814,935,9874,519,0574,496,56904,471,9724,198,8544,155,9744,241,5484,144,8993,677,7383,099,3062,761,1822,740,1212,632,0542,622,7312,567,4242,524,4262,408,5142,346,1022,216,7752,202,9442,095,3922,115,9942,033,4922,052,9642,080,7181,144,715717,706764,007820,987
   > Total Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
87,977,000
144,374,000
141,276,000
164,070,000
138,810,000
141,099,000
186,283,000
9,807,000
9,487,000
15,097,000
10,757,000
11,809,000
17,822,000
17,997,000
23,979,000
23,979,00017,997,00017,822,00011,809,00010,757,00015,097,0009,487,0009,807,000186,283,000141,099,000138,810,000164,070,000141,276,000144,374,00087,977,0000000000000000000000000000000000000000000000000000000000000000000000
       Cash And Cash Equivalents 
3,915
5,383
5,434
24,831
33,995
87,182
90,432
93,226
92,259
93,096
105,914
78,412
142,857
98,244
82,266
69,729
81,116
103,018
83,452
71,716
118,571
218,356
149,752
148,570
80,694
161,748
0
64,773
53,310
66,562
84,279
44,679
72,818
71,175
67,667
102,688
183,103
168,170
206,965
217,951
200,878
257,451
281,342
366,037
399,276
796,902
281,188
225,740
239,277
609,907
1,245,496
817,144
237,647
375,180
698,216
13,032,000
19,224,000
13,866,000
15,449,000
23,700,000
22,379,000
24,854,000
26,032,000
29,495,000
32,961,000
37,317,000
70,788,000
53,216,000
61,357,000
60,482,000
62,669,000
64,753,000
56,638,000
90,359,000
4,397,000
1,605,000
0
1,931,000
2,153,000
7,264,000
5,687,000
12,776,000
12,776,0005,687,0007,264,0002,153,0001,931,00001,605,0004,397,00090,359,00056,638,00064,753,00062,669,00060,482,00061,357,00053,216,00070,788,00037,317,00032,961,00029,495,00026,032,00024,854,00022,379,00023,700,00015,449,00013,866,00019,224,00013,032,000698,216375,180237,647817,1441,245,496609,907239,277225,740281,188796,902399,276366,037281,342257,451200,878217,951206,965168,170183,103102,68867,66771,17572,81844,67984,27966,56253,31064,7730161,74880,694148,570149,752218,356118,57171,71683,452103,01881,11669,72982,26698,244142,85778,412105,91493,09692,25993,22690,43287,18233,99524,8315,4345,3833,915
       Short-term Investments 
52,859
45,858
22,659
36,796
227,147
139,105
132,718
91,519
58,548
70,804
56,028
98,927
82,787
113,690
136,257
153,175
146,038
130,420
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
8,127
0
0
0
14,338
0
0
0
1,859
4,733
684
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
41,589,000
43,880,000
44,928,000
39,397,000
37,271,000
22,811,000
3,378,000
2,732,000
0
3,166,000
3,499,000
3,701,000
6,402,000
18,440,000
18,440,0006,402,0003,701,0003,499,0003,166,00002,732,0003,378,00022,811,00037,271,00039,397,00044,928,00043,880,00041,589,0000000000000000000006844,7331,85900014,3380008,127000000000000000000000130,420146,038153,175136,257113,69082,78798,92756,02870,80458,54891,519132,718139,105227,14736,79622,65945,85852,859
       Net Receivables 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
19,282,000
22,534,000
22,544,000
29,063,000
28,670,000
35,402,000
37,450,000
5,103,000
7,755,000
10,932,000
8,640,000
9,455,000
10,319,000
11,898,000
10,885,000
10,885,00011,898,00010,319,0009,455,0008,640,00010,932,0007,755,0005,103,00037,450,00035,402,00028,670,00029,063,00022,544,00022,534,00019,282,0000000000000000000000000000000000000000000000000000000000000000000000
       Other Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
11,851,000
13,920,000
12,467,000
25,558,000
42,161,000
43,400,000
48,098,000
24,000
6,000
9,000
0
0
10,000
4,000
0
04,00010,000009,0006,00024,00048,098,00043,400,00042,161,00025,558,00012,467,00013,920,00011,851,0000000000000000000000000000000000000000000000000000000000000000000000
   > Long-term Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
347,446,000
333,358,000
354,224,000
323,322,000
347,626,000
421,482,000
187,230,000
187,910,000
0
208,859,000
221,796,000
266,792,000
267,164,000
330,373,000
330,373,000267,164,000266,792,000221,796,000208,859,0000187,910,000187,230,000421,482,000347,626,000323,322,000354,224,000333,358,000347,446,00000000000000000000000000000000000000000000000000000000000000000000000
       Property Plant Equipment 
225,629
214,382
215,490
338,794
1,215,785
1,197,521
1,177,437
1,216,688
1,210,017
1,265,666
1,261,575
1,350,615
1,337,601
1,436,628
1,429,828
1,431,566
1,422,088
1,413,212
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
18,322,000
22,262,000
22,323,000
40,235,000
39,855,000
51,718,000
57,589,000
2,959,000
4,010,000
4,553,000
4,957,000
5,392,000
6,958,000
7,904,000
9,232,000
9,232,0007,904,0006,958,0005,392,0004,957,0004,553,0004,010,0002,959,00057,589,00051,718,00039,855,00040,235,00022,323,00022,262,00018,322,00000000000000000000000000000000000000000000000000001,413,2121,422,0881,431,5661,429,8281,436,6281,337,6011,350,6151,261,5751,265,6661,210,0171,216,6881,177,4371,197,5211,215,785338,794215,490214,382225,629
       Goodwill 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
80,603
71,812
0
0
0
0
0
0
0
0
56,893
0
67,632
81,668
5,824
5,824
5,481
5,481
5,481
5,481
3,764,000
4,306,000
2,214,000
2,304,000
2,346,000
2,371,000
2,778,000
2,770,000
3,648,000
4,137,000
3,086,000
4,406,000
3,983,000
4,599,000
4,590,000
4,586,000
4,809,000
5,020,000
5,643,000
125,000
138,000
0
135,000
148,000
163,000
189,000
221,000
221,000189,000163,000148,000135,0000138,000125,0005,643,0005,020,0004,809,0004,586,0004,590,0004,599,0003,983,0004,406,0003,086,0004,137,0003,648,0002,770,0002,778,0002,371,0002,346,0002,304,0002,214,0004,306,0003,764,0005,4815,4815,4815,4815,8245,82481,66867,632056,8930000000071,81280,60300000000000000000000000000000000000
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
80,495,000
41,647,000
38,159,000
66,919,000
67,553,000
70,072,000
77,907,000
13,224,000
14,352,000
0
13,383,000
14,299,000
13,100,000
14,363,000
16,991,000
16,991,00014,363,00013,100,00014,299,00013,383,000014,352,00013,224,00077,907,00070,072,00067,553,00066,919,00038,159,00041,647,00080,495,0000000000000000000000000000000000000000000000000000000000000000000000
       Intangible Assets 
5,804
3,536
0
3,951
48,096
3,239
2,567
2,292
2,148
2,601
3,038
6,098
5,942
5,880
5,416
5,119
6,997
3,599
3,198
2,818
2,439
2,822
2,047
1,904
2,769
8,612
0
8,684
8,538
18,559
17,357
27,708
37,229
54,397
43,408
124,600
115,062
42,362
50,826
50,570
48,578
58,180
28,831
75,212
77,167
172,878
83,351
90,030
115,178
124,085
124,181
128,965
128,293
127,409
126,495
5,644,000
6,589,000
11,763,000
11,414,000
11,294,000
11,027,000
12,387,000
12,058,000
12,809,000
13,814,000
12,297,000
17,400,000
11,392,000
13,242,000
13,324,000
18,197,000
18,653,000
19,306,000
22,141,000
1,061,000
1,177,000
0
2,265,000
2,332,000
2,506,000
2,914,000
3,158,000
3,158,0002,914,0002,506,0002,332,0002,265,00001,177,0001,061,00022,141,00019,306,00018,653,00018,197,00013,324,00013,242,00011,392,00017,400,00012,297,00013,814,00012,809,00012,058,00012,387,00011,027,00011,294,00011,414,00011,763,0006,589,0005,644,000126,495127,409128,293128,965124,181124,085115,17890,03083,351172,87877,16775,21228,83158,18048,57850,57050,82642,362115,062124,60043,40854,39737,22927,70817,35718,5598,5388,68408,6122,7691,9042,0472,8222,4392,8183,1983,5996,9975,1195,4165,8805,9426,0983,0382,6012,1482,2922,5673,23948,0963,95103,5365,804
       Long-term Assets Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
4,082,000
3,103,000
2,849,000
712,000
641,000
1,871,000
0
0
0
0
0
0
0
0
000000001,871,000641,000712,0002,849,0003,103,0004,082,00000000000000000000000000000000000000000000000000000000000000000000000
> Total Liabilities 
250,854
214,783
241,584
609,081
978,056
802,446
801,192
805,609
747,040
772,853
769,960
875,520
777,333
826,358
832,741
881,472
845,383
804,366
800,799
1,107,736
1,627,416
2,047,775
1,997,061
1,822,215
1,833,876
2,091,079
0
2,222,009
2,237,975
2,375,944
2,299,337
2,390,349
2,570,337
2,667,288
2,783,964
3,300,917
3,289,403
3,516,669
3,588,328
3,677,412
3,675,467
3,902,357
3,970,095
4,717,520
4,786,637
5,195,840
5,204,306
5,842,686
6,541,837
6,932,663
6,860,190
7,076,892
7,212,698
7,379,810
8,068,376
128,171,000
149,239,000
145,499,000
149,257,000
147,039,000
147,677,000
183,906,000
192,448,000
202,732,000
220,706,000
261,232,000
385,873,000
336,426,000
392,338,000
388,815,000
434,864,000
420,134,000
442,888,000
504,544,000
106,676,000
107,848,000
0
140,058,000
147,880,000
163,606,000
165,280,000
203,065,000
203,065,000165,280,000163,606,000147,880,000140,058,0000107,848,000106,676,000504,544,000442,888,000420,134,000434,864,000388,815,000392,338,000336,426,000385,873,000261,232,000220,706,000202,732,000192,448,000183,906,000147,677,000147,039,000149,257,000145,499,000149,239,000128,171,0008,068,3767,379,8107,212,6987,076,8926,860,1906,932,6636,541,8375,842,6865,204,3065,195,8404,786,6374,717,5203,970,0953,902,3573,675,4673,677,4123,588,3283,516,6693,289,4033,300,9172,783,9642,667,2882,570,3372,390,3492,299,3372,375,9442,237,9752,222,00902,091,0791,833,8761,822,2151,997,0612,047,7751,627,4161,107,736800,799804,366845,383881,472832,741826,358777,333875,520769,960772,853747,040805,609801,192802,446978,056609,081241,584214,783250,854
   > Total Current Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
66,443,000
77,055,000
73,959,000
101,574,000
109,270,000
124,730,000
143,384,000
30,050,000
22,391,000
29,881,000
22,138,000
21,251,000
19,117,000
25,026,000
86,429,000
86,429,00025,026,00019,117,00021,251,00022,138,00029,881,00022,391,00030,050,000143,384,000124,730,000109,270,000101,574,00073,959,00077,055,00066,443,0000000000000000000000000000000000000000000000000000000000000000000000
       Short-term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
43,760,000
48,040,000
45,504,000
59,256,000
58,970,000
0
0
0
0
0
0
0
0
0
0
000000000058,970,00059,256,00045,504,00048,040,00043,760,0000000000000000000000000000000000000000000000000000000000000000000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
43,760,000
48,040,000
45,504,000
59,256,000
58,970,000
68,302,000
78,341,000
24,471,000
14,531,000
0
15,409,000
13,856,000
11,684,000
12,037,000
61,682,000
61,682,00012,037,00011,684,00013,856,00015,409,000014,531,00024,471,00078,341,00068,302,00058,970,00059,256,00045,504,00048,040,00043,760,0000000000000000000000000000000000000000000000000000000000000000000000
       Accounts payable 
8,119
5,729
0
12,224
69,151
38,585
68,900
44,964
80,239
100,129
105,445
128,297
130,003
159,622
103,642
106,714
109,791
106,329
135,381
189,445
203,904
161,967
207,646
234,680
214,543
203,418
0
165,128
128,246
135,217
124,016
185,267
196,423
171,656
66,360
109,057
77,216
45,971
62,783
65,201
59,513
79,848
71,664
140,988
130,697
59,637
60,213
63,435
84,520
64,217
91,949
166,145
78,372
104,185
94,773
9,485,000
13,767,000
11,520,000
12,402,000
12,393,000
10,972,000
13,712,000
13,222,000
23,120,000
24,670,000
14,617,000
16,729,000
14,188,000
18,623,000
18,561,000
21,205,000
19,938,000
24,674,000
29,672,000
5,007,000
7,206,000
7,932,000
5,103,000
5,752,000
6,310,000
7,312,000
8,524,000
8,524,0007,312,0006,310,0005,752,0005,103,0007,932,0007,206,0005,007,00029,672,00024,674,00019,938,00021,205,00018,561,00018,623,00014,188,00016,729,00014,617,00024,670,00023,120,00013,222,00013,712,00010,972,00012,393,00012,402,00011,520,00013,767,0009,485,00094,773104,18578,372166,14591,94964,21784,52063,43560,21359,637130,697140,98871,66479,84859,51365,20162,78345,97177,216109,05766,360171,656196,423185,267124,016135,217128,246165,1280203,418214,543234,680207,646161,967203,904189,445135,381106,329109,791106,714103,642159,622130,003128,297105,445100,12980,23944,96468,90038,58569,15112,22405,7298,119
       Other Current Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6,602,000
5,489,000
5,718,000
12,155,000
22,966,000
23,691,000
26,397,000
198,000
219,000
215,000
1,136,000
1,129,000
453,000
5,027,000
15,332,000
15,332,0005,027,000453,0001,129,0001,136,000215,000219,000198,00026,397,00023,691,00022,966,00012,155,0005,718,0005,489,0006,602,0000000000000000000000000000000000000000000000000000000000000000000000
   > Long-term Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
315,283,000
314,856,000
333,290,000
310,864,000
318,158,000
361,160,000
76,626,000
85,457,000
0
117,920,000
126,629,000
144,489,000
140,254,000
116,636,000
116,636,000140,254,000144,489,000126,629,000117,920,000085,457,00076,626,000361,160,000318,158,000310,864,000333,290,000314,856,000315,283,00000000000000000000000000000000000000000000000000000000000000000000000
       Capital Lease Obligations Min Short Term Debt
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-43,760,000
-48,040,000
-45,504,000
-45,294,000
-45,070,000
16,710,000
18,245,000
725,000
784,000
0
906,000
944,000
989,000
1,079,000
1,228,000
1,228,0001,079,000989,000944,000906,0000784,000725,00018,245,00016,710,000-45,070,000-45,294,000-45,504,000-48,040,000-43,760,0000000000000000000000000000000000000000000000000000000000000000000000
> Total Stockholder Equity
511,941
490,765
435,970
460,416
640,627
809,186
794,320
872,050
900,092
959,854
995,223
1,040,573
1,194,537
1,252,229
1,291,016
1,301,356
1,340,768
1,485,766
1,505,402
1,576,577
1,633,384
1,646,714
1,783,995
1,875,087
1,892,182
1,924,178
2,380,893
1,834,524
1,832,968
2,095,662
2,228,391
2,328,204
2,364,608
2,403,046
2,460,746
2,458,052
2,518,353
2,481,815
2,499,117
2,429,305
2,522,175
2,335,279
2,702,307
2,706,129
2,818,754
2,745,538
2,797,379
2,507,856
2,489,506
2,284,686
2,063,126
1,880,718
1,675,795
2,474,253
2,229,502
1,903,000
1,277,000
1,115,000
465,000
3,003,000
3,623,000
25,864,000
26,107,000
30,585,000
30,651,000
37,421,000
50,716,000
42,324,000
45,303,000
32,075,000
37,674,000
34,340,000
28,710,000
57,127,000
70,375,000
70,107,000
0
61,832,000
66,801,000
116,762,000
117,889,000
158,853,000
158,853,000117,889,000116,762,00066,801,00061,832,000070,107,00070,375,00057,127,00028,710,00034,340,00037,674,00032,075,00045,303,00042,324,00050,716,00037,421,00030,651,00030,585,00026,107,00025,864,0003,623,0003,003,000465,0001,115,0001,277,0001,903,0002,229,5022,474,2531,675,7951,880,7182,063,1262,284,6862,489,5062,507,8562,797,3792,745,5382,818,7542,706,1292,702,3072,335,2792,522,1752,429,3052,499,1172,481,8152,518,3532,458,0522,460,7462,403,0462,364,6082,328,2042,228,3912,095,6621,832,9681,834,5242,380,8931,924,1781,892,1821,875,0871,783,9951,646,7141,633,3841,576,5771,505,4021,485,7661,340,7681,301,3561,291,0161,252,2291,194,5371,040,573995,223959,854900,092872,050794,320809,186640,627460,416435,970490,765511,941
   Common Stock
0
207,412
0
207,412
0
212,013
212,212
229,290
238,253
248,803
258,253
261,520
338,373
357,267
0
0
0
435,448
437,554
448,742
453,557
464,969
551,780
578,676
578,676
578,676
0
578,676
578,676
578,676
578,676
578,676
578,676
578,676
578,676
578,676
578,676
578,676
578,676
578,676
578,676
578,676
578,676
578,676
578,676
578,676
578,506
574,588
574,188
573,771
573,771
573,771
573,771
574,451
574,874
575,000
575,000
575,000
575,000
575,000
575,000
575,000
575,000
575,000
575,000
575,000
575,000
575,000
575,000
575,000
575,000
575,000
575,000
575,000
575,000
575,000
575,000
655,000
657,000
809,000
657,000
805,000
805,000657,000809,000657,000655,000575,000575,000575,000575,000575,000575,000575,000575,000575,000575,000575,000575,000575,000575,000575,000575,000575,000575,000575,000575,000575,000575,000574,874574,451573,771573,771573,771573,771574,188574,588578,506578,676578,676578,676578,676578,676578,676578,676578,676578,676578,676578,676578,676578,676578,676578,676578,676578,676578,676578,6760578,676578,676578,676551,780464,969453,557448,742437,554435,448000357,267338,373261,520258,253248,803238,253229,290212,212212,0130207,4120207,4120
   Retained Earnings Total Equity0000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Accumulated Other Comprehensive Income 0000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Capital Surplus 0000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Treasury Stock000000000000000-24,000-25,000-26,000-28,000-28,000-28,000-29,000-29,000-29,000-29,000-29,000-30,000-30,130-33,729-37,906-37,906-37,906-37,906-32,998-29,627-1,1820000000000000000000000000000000000000000000000
   Other Stockholders Equity 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,048,000
6,677,000
5,858,000
5,840,000
4,439,000
4,699,000
7,517,000
10,392,000
11,923,000
13,101,000
15,903,000
17,261,000
18,382,000
21,491,000
26,194,000
26,194,00021,491,00018,382,00017,261,00015,903,00013,101,00011,923,00010,392,0007,517,0004,699,0004,439,0005,840,0005,858,0006,677,0005,048,0000000000000000000000000000000000000000000000000000000000000000000000



Balance Sheet

Currency in ARS. All numbers in thousands.




Cash Flow

Currency in ARS. All numbers in thousands.