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Evil of many, cautiously crazy says the word, but it is good for most Argentine companies that close their scales in red. Arcor is one of them, and perhaps one of the hardest hits, because he has already accumulated $ 6,200 million in losses in September – nine months ago, $ 1,084 million.
No doubt, the quarter closed in September has accelerated the situation, as it only added a negative result of more than $ 3,700 million in that period, and for the rest of 2018 the chances are even more negative for food to close one of the worst balances in its history. As Arcor explained in the last balance sheet report, the result of the year was "influenced by the behavior of certain macroeconomic variables, mainly with the influence of Argentina on strong devaluation of the currency and accelerating inflation."
So, although the company exports part of its production, most of its business is in the domestic market, which contributes about 70% of revenue.
To better understand the company's panorama, nothing better than shelling the numbers. In the analyzed period, Arcor had invoiced slightly more than $ 49,900 million, sold $ 35,400 million a year earlier, ie it has risen by 40 percent over the previous year. Meanwhile, other variables such as marketing and administrative costs have risen between 30 and 40%, but the "Financial Expense" item has increased from $ 1,998 million in 2017 to $ 13,213 million, ie more than 500% , liabilities and bonds, as well as losses due to negative exchange rate differences.
We also need to consider a strong increase in the financial liabilities of a company that ranged from $ 30,200,000 to over $ 56,900 million, ie they increased nothing more than anything and nothing less than 68.5%. The most significant item was "Loans", since $ 21,000 million was added to September 2017, compared to $ 41,200 million annually.