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Financial instruments
 12 Months Ended
Dec. 31, 2021
Financial instruments

 

 Note

15 | Financial instruments

 

Note 15.1 | Financial instruments by category

 

 

                 
     Financial assets at amortized cost     Financial assets at fair value through profit or loss     Non-financial assets     Total 
 As of December 31, 2021                 
 Assets                  
Trade receivables                 17,563                          -                          -                 17,563
Other receivables                   2,117                          -                       23                   2,140
Cash and cash equivalents                 
     Cash and Banks                   1,518                          -                          -                   1,518
     Time deposits                      305                          -                          -                      305
     Mutual funds                          -                   1,349                          -                   1,349
Financial assets at fair value through profit or loss:                
     Government bonds                          -                   8,872                          -                   8,872
     Mutual funds                          -                   6,579                          -                   6,579
Financial assets at amortized cost:                
     Government bonds                      243                          -                          -                      243
 Total                  21,746                 16,800                       23                 38,569
                 
                 
 As of December 31, 2020                 
 Assets                  
Trade receivables                 21,352                          -                          -                 21,352
Other receivables                      592                          -                      492                   1,084
Cash and cash equivalents                 
     Cash and Banks                   2,472                          -                          -                   2,472
     Mutual funds                          -                   4,110                          -                   4,110
Financial assets at fair value through profit or loss:                
     Government bonds                          -                   3,352                          -                   3,352
Financial assets at fair value                
     Government bonds                      478                          -                          -                      478
 Total                  24,894                   7,462                      492                 32,848

 

 

         
     Financial liabilities at amortized cost     Total 
 As of December 31, 2021         
 Liabilities         
 Trade payables                  76,837                 76,837
 Other payables                  13,429                 13,429
 Borrowings                  10,262                 10,262
 Total                 100,528               100,528
         
 As of December 31, 2020         
 Liabilities         
 Trade payables                  50,606                 50,606
 Other payables                  14,009                 14,009
 Borrowings                  12,681                 12,681
 Total                   77,296                 77,296

 

 

 

 

Financial instruments categories have been determined based on IFRS 9.

 

 

 

 

 

 

The income, expenses, gains and losses resulting from each category of financial instruments are as follow:

 

             
     Financial assets at amortized cost     Financial assets at fair value through profit or loss     Total 
 As of December 31, 2021             
Interest income                        65                          -                       65
Exchange differences                      456                      492                      948
Changes in fair value of financial assets                          -                   3,967                   3,967
Net gain from the cancelattion of Corporate Notes                         3                          -                         3
Other                      580                          -                      580
Total                    1,104                   4,459                   5,563
             
 As of December 31, 2020             
Interest income                        83                          -                       83
Exchange differences                      860                      874                   1,734
Changes in fair value of financial assets                          -                   1,492                   1,492
Net gain from the cancelattion of Corporate Notes                      626                          -                      626
Total                    1,569                   2,366                   3,935

         
     Financial liabilities at amortized cost     Total 
 As of December 31, 2021         
Interest expense               (26,920)               (26,920)
Exchange differences                (2,550)                (2,550)
Other financial results                (1,057)                (1,057)
 Total                 (30,527)               (30,527)
         
 As of December 31, 2020         
Interest expense               (13,814)   (13,814)
Exchange differences                (6,192)                (6,192)
Other financial results                   (317)                   (317)
 Total                 (20,323)   (20,323)

Note 15.2 | Credit quality of financial assets

 

The credit quality of financial assets that are neither past due nor impaired may be assessed based on external credit ratings or historical information:

 

 

         
     12.31.21     12.31.20 
 Customers with no external credit rating:         
 Group 1  (i)                    12,828                 15,748
 Group 2 (ii)                      1,660                   1,304
 Group 3 (iii)                      3,075                   4,300
 Total trade receivables                   17,563                 21,352

 

(i)Relates to customers with debt to become due.
(ii)Relates to customers with past due debt from 0 to 3 months.
(iii)Relates to customers with past due debt from 3 to 12 months.

 

At the Statement of Financial Position date, the maximum exposure to credit risk is the carrying amount of these financial assets.