Explanations for the variations in the above referred period are set forth
below:
Financial income
Financial income increased by US$13.2 million, or 172.1%, to US$20.8 million for the three-month period ended December 31, 2023
from US$7.6 million in the same period of 2022, mainly due to an increase in interest and dividends earned on bank deposits and financial investments to US$13.9 million in December 31, 2023 from US$1.7 million in
December 31, 2022.
Financial income increased by US$22.6 million, or 95.1%, to US$46.4 million for the twelve-month period
ended December 31, 2023 from US$23.8 million in the same period of 2022, mainly due to the increase in interest and dividends earned on bank deposits and financial investments to US$23.8 million in December 31, 2023 from
US$2.3 million in December 31, 2022.
Financial expense
Financial expense increased by US$15.5 million, or 313.9%, to US$20.4 million for the three-month period ended December 31, 2023
from US$4.9 million in the same period of 2022, mainly due to (1) an increase in adjustment of hyperinflation to US$9.1 million in December 31, 2023 from US$1.4 million in December 31, 2022 and; (2) an increase in
foreign exchange losses to US$7.4 million in December 31, 2023 from US$2.9 million in December 31, 2022.
Financial
expense increased by US$12.0 million, or 38.1%, to US$43.4 million for the twelve-month period ended December 31, 2023 from US$31.4 million in the same period of 2022, mainly due to (1) an increase in adjustment of
hyperinflation to US$19.4 million in December 31, 2023 from US$5.2 million in December 31, 2022 and; (2) the increase in foreign exchange losses to US$16.8 million in December 31, 2023 from US$8.5 million in
December 31, 2022, which was partially offset by (3) a decrease in losses from short and long-term investments to US$1.6 million in December 31, 2023 from US$13.8 million in December 31, 2022.
The following tables show the unrealized gain and loss position recorded in our Balance Sheet as at December 31, 2023 and
December 31, 2022:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at December 31, 2023 |
|
|
|
(unaudited) |
|
|
|
Amortized cost |
|
|
Gross unrealized gain |
|
|
Gross unrealized loss |
|
|
Fair value |
|
Short and long-term investments |
|
|
90,249 |
|
|
|
5,052 |
|
|
|
(8 |
) |
|
|
95,293 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at December 31, 2022 |
|
|
|
(unaudited) |
|
|
|
Amortized cost |
|
|
Gross unrealized gain |
|
|
Gross unrealized loss |
|
|
Fair value |
|
Short and long-term investments |
|
|
208,177 |
|
|
|
1,013 |
|
|
|
(5,145 |
) |
|
|
204,045 |
|
Net income (loss) for the period
As a result of the above, our net income amounted to US$3.2 million for the three-month ended December 31, 2023, compared to a net
loss of US$0.3 million in the same period of 2022.
As a result of the above, our net loss amounted to US$13.7 million for the
twelve-month period ended December 31, 2023, compared to US$52.4 million in the same period of 2022.
38