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FINANCIAL RISK MANAGEMENT (Tables)

12 Months Ended

Dec. 31, 2019

FINANCIAL RISK MANAGEMENT

Schedule of financial assets and liabilities denominated in foreign currencies


		2019		2018
		In equivalent millions of Argentine pesos
Assets		31,451		26,323
Liabilities		(169,121)		(138,788)
Liabilities Net		(137,670)		(112,465)

Schedule of theoretical exposure to credit risk


								Other
		Cash and cash				Trade		receivables,
Date due		equivalents		Investments		receivables, net		net		Total
Total due		—		—		8,280		17		8,297
Total not due		25,582		1,426		8,768		1,555		37,331
Total as of December 31, 2019		25,582		1,426		17,048		1,572		45,628

Schedule of working capital breakdown and its main variations


		2019		2018		Variation
Trade receivables		16,965		26,790		(9,825)
Other receivables (not considering financial NDF)		4,427		6,652		(2,225)
Inventories		3,212		4,210		(998)
Current liabilities (not considering financial debt)		(50,701)		(51,384)		683
Operative working capital		(26,097)		(13,732)		(12,365)
Over revenues		11.0	%	5.3	%

Cash and cash equivalents		25,582		10,601		14,981
Financial NDF		163		1,154		(991)
Investments		429		2,109		(1,680)
Current financial debt		(35,280)		(30,835)		(4,445)
Net Current financial (liability) asset		(9,106)		(16,971)		7,865

Negative operating working capital (current assets - current liabilities)		(35,203)		(30,703)		(4,500)
Liquidity rate		0.59		0.63		(0.04)

Schedule of breakdown of financial liabilities into relevant maturity groups


						Salaries and
						social
		Trade		Financial		security		Leases		Other
Maturity Date		payables		Debt		payables		liabilities		liabilities		Total
Due		2,398		—		—		—		—		2,398
January 2020 thru December 2020		29,565		36,170		9,957		2,782		226		78,700
January 2021 thru December 2021		1,807		58,058		409		1,537		65		61,876
January 2022 thru December 2022		233		40,037		270		949		—		41,489
January 2023 and thereafter		315		47,922		297		2,293		—		50,827
		34,318		182,187		10,933		7,561		291		235,290