EX-15.1 20 ex151_7.htm EXHIBIT 15.1

Exhibit 15.1

Ratios

Liquid financial assets over total assets

| At December 31,
Thousands of U.S. dollars | 2023 | 2022 | 2021
Cash and cash equivalents | 1,637,821 | 1,091,527 | 318,127
Other current investments | 1,969,631 | 438,448 | 397,849
Non-current investments | 398,220 | 113,574 | 312,619
Liquid financial assets | 4,005,672 | 1,643,549 | 1,028,595
Total assets | 21,081,895 | 17,550,246 | 14,449,431
Ratio | 0.19 | 0.09 | 0.07

Total l iabilities to t otal a ssets r atio

| At December 31,
Thousands of U.S. dollars | 2023 | 2022 | 2021
Total liabilities | 4,051,458 | 3,515,809 | 2,343,729
Total assets | 21,081,895 | 17,550,246 | 14,449,431
Ratio | 0.19 | 0.20 | 0.16

Current borrowings to total borrowings

| At December 31,
Thousands of U.S. dollars | 2023 | 2022 | 2021
Current borrowings | 535,133 | 682,329 | 219,501
Total borrowings | 583,437 | 728,762 | 330,933
Ratio | 0.92 | 0.94 | 0.66