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DIA once again suffered a sharp fall in the stock market when supporting a when publishing its quarterly results and reveal that the figure of The Argentine crisis business will have an impact of 237 million euros.
The action of the supermarket group ended the day in at 69 cent leading the losses chapter in the Ibex 35 and broke a three-day sequence consecutive in green.
The value of DIA has fallen on the stock market in the last two weeks, coinciding with the worsening of its economic forecast for 2018 and the redrafting of its accounts for 2017, and had already accumulated during this period a devaluation of 65%.
The company today quantified, for 237 million euros, the impact of IAS 29 accounting rules, ob link for companies operating in "hyperinflationary" economies – because of their activity in Argentina – in their case -.
According to the calculations of the supermarket chain, the new accounting would have also resulted in a reduction of 27 million euros of its adjusted Ebitda
In contrast, IAS 29 has a positive effect of 13.5 million euros. euros on attributable net income and 57.6 million euros on consolidated shareholders' equity, according to these sources.
Taking into account these impacts, the Group's financial statements as of September 30, 2018 show a net sales volume of 5,490.5 million euros (minus 13.9%) and an adjusted EBITDA of 281.1%. million (24%). less), although DIA has not provided them with any benefit pending the completion of an badet impairment test that could result in a provision for a portion of their earnings.
The group's activities in Argentina represent about 17% of your billing at tr more than 900 stores.
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