SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2019

SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Detailed data reflecting subsidiary control as of December 31, 2019 and 2018 is as follows:

Company	% of shareholding and votes	Country	Closing date	Main activity

Telcosur	99.98	Argentina	December 31	Telecommunication Services
CTG ⁽¹⁾	100.00	Argentina	December 31	Electricity related services

⁽¹⁾ 100% of the shares of this company were acquired on August 8, 2017. At present, it is in the process of being transformed into S.A.U.

Associates

In the table below, associates are disclosed, together with the percentage of shareholding and voting as of December 31, 2019 and 2018:

Company	% of shareholding and voting	Country	Main activity	Closing date

TGU	49.00	Uruguay	Pipeline maintenance	December 31
EGS (“in liquidation”)	49.00	Argentina	Pipeline exploitation and construction	December 31
Link	49.00	Argentina	Pipeline exploitation and construction	December 31

Earnings Per Share

Earnings per share as of December 31, 2019, 2018 and 2017 were calculated as follows:

	2019		2018		2017
Net income attributable to owners of the Company		12,805,105		17,561,249		8,847,196
Average number of outstanding shares ⁽¹⁾		776,121,341		788,405,563		794,495,283
Basic and diluited earnings per share		16.50		22.27		11.14

⁽¹⁾ The weighted average number of shares considers the effect of the weighted average of the changes originated in the transactions with the treasury shares made during the year.