Reports

Date Report Type
26/11/2018

San Miguel 3Q18

San Miguel reached a positive operating result of ARS 1.105 million (-ARS 50 million in 2017) during the first nine months, reflecting a complete recovery in production and more favorable market conditions for the business as a whole.

Equity Full Report
16/11/2018

Aluar 1Q 18/19

Aluar delivered solid performance with results above expectations, driven by a higher aluminum price and a hike in the foreign exchange rate. Consolidated net revenues grew 101,1% y-o-y in 1Q 2018/19, thanks to increases in aluminum international price and foreign exchange rate, although with a lower shipped volume.

Equity Full Report
15/11/2018

BYMA 3Q18

Bolsas y Mercados Argentinos (BYMA) obtained a quarterly net result higher than expected, with a remarkable growth in income from both its portfolio and Caja de Valores business.

Equity Full Report
12/11/2018

Tenaris 3Q18

Tenaris disclosed higher than expected quarterly revenue and operating income. 3Q18’s revenue came 6% higher on a quarterly sequential basis supported by higher shipments (+2% QoQ, +75% YoY) and strong average prices ($ 2.226/t, +3,8% QoQ).

Equity Full Report
12/11/2018

Ternium 3Q18

Thanks to solid sales levels, operating margin, and associated companies positive result, Ternium Argentina disclosed a net result above expectations, despite negative financial result.

Equity Full Report
26/10/2018

Grupo Financiero Valores Oct 2018

Grupo Financiero Valores (BYMA:VALO) is the controlling shareholder (99,9%) of Banco de Valores, which represents ~90% of the holding’s net income.

Equity Full Report
04/10/2018

Aluar 4Q 2017-2018

Aluar showed a solid performance, driven by exports and an improvement in aluminum price.

Equity Full Report
27/09/2018

Argentine Banking Industry First Half 2018

Earnings grow on top of 2017 figures The Argentina banking industry accumulated a profit of ARS 65 billion in the first half of 2018, 61% more than the net gain obtained in the first six months of 2017. With this, there was also an improvement compared to the growth path observed in 2017: in the first semester of 2017, YoY growth had been only 4%, while in the second half of the same year, YoY growth had been 28%. Earnings grow on top of 2017 figures The Argentina banking industry accumulated a profit of ARS 65 billion in the first half of 2018, 61% more than the net gain obtained in the first six months of 2017. With this, there was also an improvement compared to the growth path observed in 2017: in the first semester of 2017, YoY growth had been only 4%, while in the second half of the same year, YoY growth had been 28%.

Equity Full Report
21/09/2018

Edenor 2Q18

The peso depreciation had a strong negative impact on Edenor's quarterly figures (EDN) due to high exposure on dollar debt and energy purchases for distribution.

Equity Full Report
20/09/2018

Pampa Energía 2Q18

Quarterly sales climbed 74% YoY, to $20,317 million, as a result of a 116% increase in power generation (12 power plants), 78% YoY increase in energy distribution and 37% expansion in the oil and gas business.

Equity Full Report
20/09/2018

Telecom 2Q18

Quarterly sales suffered and grew in line with inflation (+ 30.9% YoY, vs. +32% expected), as a consequence of the economic downturn. Weak demand will continue in 3Q18.

Equity Full Report
19/09/2018

Transener 2Q18

Predictable, yet still interesting, were Transener's quarterly earnings, not in line with the stock’s trend so far this year.

Equity Full Report
17/09/2018

YPF 2Q18

YPF’s 2Q18 has been a continuation of the downtrend evidenced during 1Q18: net sales grew at a slower pace than costs, hurting the gross margin. This can be mainly explained by the strong peso devaluation in 2Q18 and the delay in the adjustment of domestic prices as a result of political pressures in the face of accelerating inflation.

Equity Full Report
13/09/2018

Enel Generación Costanera 2Q18

A recovery in gross and operating margins took place during 2Q18, which stood at 58.7% and 54.1% (vs 33.9% and 26.7% in 2Q17). The improvement was mainly due to tariffs (RTI contract) adjustment and greater efficiency in operating costs management.

Equity Full Report
12/09/2018

Central Puerto 2Q18

Conventional power generation fell by 18% YoY during 2Q18, higher than our estimate of a 10% decline, as a result of a 37% drop in thermoelectric power production due to maintenance stops in Puerto Combined cycle, started in March and ended in the second quarter

Equity Full Report