Wednesday, July 5, 2017

The 5 Largest Argentine HQ'd Companies Reporting With the US SEC Generated Total 2016 Losses of 15 Bil Argentine Pesos (ARS) as Compared With Total 2015 Earnings of 20 Bil ARS

The largest Argentine Companies dominating the Argentine landscape are the ones reporting their financial statements to the US SEC.

For instance, 4 of the 5 Argentine Companies with the highest stock market capitalizations report their financial statements to the US SEC.

Altogether there were 5 Argentine Companies with market caps now above 50 Bil Argentine Pesos (ARS) which filed their financial statements with the US SEC.  The Argentine Peso is equal to US$0.592 now. 

Three of these five Argentine Companies follow IFRS accounting principles and the other two follow Argentine Central Bank accounting principles.

After researching 2016 Audited Earnings in the three largest countries in Central and South America ..... Brazil, Mexico and Argentina ..... it is pretty clear that this region was really suffering on the earnings front in 2016. 

From a review of company financial statements in the US SEC website, along with a review of Google's fine financial website, below are the Audited Earnings (Losses) From Continuing Operations for each fiscal year (FYE) from 2011 through 2016 for each of these 5 Argentine Companies:

2016 2015 2014 2013 2012 2011

Most Audited Audited Audited Audited Audited Audited
Largest Argentine Companies Recent Net Net Net Net Net Net
Filing With US SEC 2016 Income Income Income Income Income Income
Reporting in Argentine Peso (ARS) FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)

 mil ARS   mil ARS   mil ARS   mil ARS   mil ARS   mil ARS 

Grupo Financiero Gallacia SA Dec           6,018          4,338          3,338          1,824          1,336          1,107
Telecom Argentina SA Dec           4,005          3,435          3,729          3,254          2,732          2,542
BBVA Banco Frances SA Dec           3,750          3,921          3,308          2,079          1,300          1,014
Pampa Energia SA Dec             (252)          3,849             530             742         (1,111)            (729)
YPF SA Dec        (28,379)          4,426          8,849          5,079          3,902          4,445

Total all 5
       (14,858)        19,969        19,754        12,978          8,159          8,379

2016 Total Earnings Below 2015