Regarding operational metrics, from the company they affirmed that sales in shopping centers, although they showed an interannual drop of 8.5%, continue to recover in quarterly terms, where they grew by 21.4%. At the same time, they reached full occupation of the premium offices, but hotels registered lower income and occupations.
“Among the relevant facts of the quarter, the acquisition of the“ May Terrazas ”shop .
The exact dates for six stations that quote on the stock market are still unknown: Banco Macro (BMA), Globant (GLOB) – the estimated is estimated February 14-, Transporter of Gas del Norte (TGN04), Aluar, Commercial Company of the Plata (Come) and Edenor (EDN), which increases the expectation around its reports.
In the field of companies with ADR on Wall Street, of the 16 members of the S&P Merval, IRSA presents its results the Friday, February 7while Cresud (CRES), belonging to the same economic group, the February 11. This last data will be especially relevant in a complicated context for the agricultural sector. Likewise, Bioceres (Biox), the agricultural biotechnology firm, will reveal its figures February 12.
On the other hand, in the energy sector, gas transporter of the South (TGS) and Transener will inform their results Thursday, February 27. Both companies have improved their balances thanks to the correction in the rates for 2024, and in the face of this year, the outcome of the quinquenal tariff (RQT) revision and the sale of the shares that the state -owned Enarsa in Citelec, controlling of Transener.
He March 5 Mark the presentation of the results of two essential banks: Grupo Financiero Galicia (GGAL) and BBVA. It should be noted that Ggal was consolidated as the protagonist in 2024 after the acquisition of HSBC. That same day, Pampa Energía (Pamp), the main private holding company in the energy sector led by Marcelo Mindlin, will present an ambitious investment plan focused on the unconventional deposits of Vaca Muerta.
MercadoLibre (Meli), which operates with ADR In the New York Stock Exchange, although it is not part of the S&P Merval, the results will publish its results February 20while Energy view (View) will do it February 26.
YPFfor its part, the figures will announce the March 7. Subsequently, the April 11its managers will be presented at Wall Street to expose the company’s strategic plans for the next five years, with special emphasis on investments in Vaca Muerta, the export of oil and the production of LNG.
Finally, the March 10 It will be the day in which Supervielle (SUPV), Telecom and Central Puerto (CEPU) disclose their financial statements, closing a calendar that is emerging as a determinant for the assessment of the Argentine market.
Argentine Actions: The expectation of the City
The financial advisor, Pablo Das Nevespoints out in dialogue Scope That, although 2024 was a great year for the Argentine “Equity”, the 2025 began with a “healthy” correction that allows or offers investors better entry prices, that is, buying the fall of Argentine companies.
For this year, the strategist anticipates that “you have to be much more cautious and selective than the previous one, at least until the doubts about the support of the surplus, the agreement with the IMF and the value of the dollar“, perhaps the three axes in which the market fixes its gaze these days and then allowing you to think about new maximums for Argentine assets.
And, as Das Neves analyzes, “these variables directly affect the country risk which determines the value of the equity. “Although it slides that there is a lot of medium and long value in the sector Oil & Gas, with YPF, Vista, and Gas Transporter del Nortewhose ratios exceed the industry. Also, although to a lesser extent, he ponders the banking sector, in particular he likes Macro, Galicia and Superviellesince it is estimated that this year it will be important for credit growth.
For its part, Matthew ReschiniHead of Research of Inviu, warns in statements to this media that the expectation is that, in general, “the data that were known and that are about to be known reflect good performance“Of Argentine companies.
Sector by sector: What does the City expect
He comments that a key point to analyze is the impact of reducing subsidies to rates on energy companies. On the other hand, in the banking sector, “It is interesting to evaluate how this context influenced consumption“, says Reschini. Beyond these factors, A good balance season is expecteddriven by interannual rebounds compared to last year, when the situation was more fragile than the current one, the strategist predicts.
Jose Ignacio ThomeEquity analyst SBS groupHe adds that, from the firm he represents, they expect satisfactory results in most sectors, in line with what the market already discounted in prices during the second half of 2024.
Strictly speaking, the sector of “Oil & Gas “the SBS “Top Pick” sector, the analyst expects “oil productions that will continue to the online rise with what is already advanced by available production reports, to which in this case the impulse of the Brent barrel is added whose price she rebounded In the final part of 4q24, “he explains.
On the side of the “Utilities“, another favorite broker sector, an extension of the good performances already exhibited during the 2Q and 3Q is anticipated, since the normalization that the sector has lived in the first part of last year was added monthly adjustments in their rates that They ran above the accumulated inflation in the quarter, which will allow the good operational margins reached by both carriers and gas and electricity distributors.
As for the Banking sectorThom In progress “Financing to families and companies after two years whose main business was in positioning in debt of the Treasury and the BCRA”.
Not all sectors generate enthusiasm
Finally, Thome highlights that the sector where perspectives do not look favorable, and where the context is more than challenging, “is construction and materials“The strategist remarks that although the worst seems to have been left behind,” with very poor operational performances in the first 2024 semester, the activity in these sectors has not yet regained markedly. “
To this are added two key factors that Thome stands out as fundamental. First, geopolitical uncertainty: the threat that represents the opening of imports from China and the imposition of tariffs by the Trump administration. In second place, “The lack of investment in public works“, which significantly reduces the possibilities of a substantial change in the dynamics of these sectors in the short term.
And although last year’s robust results showed the enthusiasm of investors, the current correction of the equity and the macroeconomic context – which includes the sustainability of the surplus, negotiations with the IMF and the evolution of the dollar – force to reexamine the Sector perspectives by sector.
Source: Ambito
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