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Financial risk management (Tables)
 12 Months Ended
Dec. 31, 2021
Schedule of balances in foreign currency

As of December 31, 2021 and 2020, the Company’s balances in foreign currency are as follow:

 

 

                     
    Currency   Amount in foreign currency   Exchange rate (1)   Total
12.31.21		   Total
12.31.20
           
ASSETS                    
CURRENT ASSETS                    
Other receivables   USD                   1   102.720                 103                  762
    JPY                   -   0.893                     -                   68
Financial assets at fair value through profit or loss   USD                 46   102.720              4,725                      -
Cash and cash equivalents   USD                 12   102.720              1,233               2,159
TOTAL CURRENT ASSETS                          6,061               2,989
TOTAL ASSETS                          6,061               2,989
                     
LIABILITIES                    
NON-CURRENT LIABILITIES                    
Borrowings   USD                   -   102.720                     -             12,465
TOTAL NON-CURRENT LIABILITIES                                 -             12,465
CURRENT LIABILITIES                    
Trade payables   USD                 12   102.720              1,233               1,451
Borrowings   USD               100   102.720            10,262                  216
Other payables    USD                 10   102.720              1,027               1,142
TOTAL CURRENT LIABILITIES                        12,522               2,809
TOTAL LIABILITIES                        12,522             15,274

 

 

(1)The exchange rates used are the BNA exchange rates in effect as of December 31, 2021 for US Dollars (USD) and Japanese Yens (JPY).
Schedule of exposure to currency risk

The table below shows the Company’s exposure to currency risk resulting from the financial assets and liabilities denominated in a currency other than the Company’s functional currency.

 

 

         
     12.31.21     12.31.20 
Net position        
US dollar            (6,461)          (12,353)
Japanese Yen                     -                   68
Total             (6,461)          (12,285)
Schedule of decrease in results of operations

The Company estimates that a 10% devaluation of the Argentine peso with respect to each foreign currency, with all other variables held constant, would give rise to the following decrease in the loss for the year:

 

         
     12.31.21     12.31.20 
Net position        
US dollar               (646)            (1,235)
Japanese Yen                     -                     7
Decrease in the results of operations for the year               (646)            (1,228)
Schedule of analysis of non-derivative financial liabilities

The table below includes an analysis of the Company’s non-derivative financial liabilities, which have been classified into maturity groupings based on the remaining period between the closing date of the fiscal year and the contractual maturity date. Derivative financial liabilities are included in the analysis if their contractual maturities are essential for an understanding of the timing of the cash flows. The amounts disclosed in the table are the contractual undiscounted cash flows.

 

 

                         
     No deadline     Less than 3 months     From 3 months to 1 year     From 1 to 2 years     From 2 to 5 years     Total 
As of December 31, 2021                        
Trade payables and other liabilities             52,926             26,963              7,192                 311              12,519                99,911
Borrowings                     -                     -             10,262                     -                       -                10,262
Total              52,926             26,963             17,454                 311              12,519              110,173
                         
As of December 31, 2020                        
Trade payables and other liabilities             27,414             30,038              5,829                 302              13,362                76,945
Borrowings                     -                     -                 216             12,465                       -                12,681
Total              27,414             30,038              6,045             12,767              13,362                89,626
Schedule of gearing ratios

The gearing ratios at December 31, 2021 and 2020 were as follow:

 

 

         
     12.31.21     12.31.20 
Total liabilities           164,129           129,608
Less: Cash and cash equivalents and Financial assets at fair value through profit or loss          (18,623)            (9,934)
Net debt           145,506           119,674
Total Equity             73,694             94,902
Total capital attributable to owners           219,200           214,576
Gearing ratio   66.38%   55.77%
Schedule of financial assets and liabilities measured at fair value

The table below shows the Company’s financial assets and liabilities measured at fair value as of December 31, 2021 and 2020:

 

     
     LEVEL 1 
     
At December 31, 2021    
Assets    
Financial assets at fair value through profit or loss:    
Government bonds              8,872
Mutual funds              6,579
Cash and cash equivalents:    
Mutual funds              1,349
Total assets             16,800
     
     
At December 31, 2020    
Assets    
Financial assets at fair value through profit or loss:    
Government bonds              3,352
Cash and cash equivalents    
Mutual funds              4,110
Total assets              7,462