Último balance Grupo Clarín

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    BXQVD [email protected] ].N.

    Xapdrta Neunc y Astnlds G`enem`ards Mdesdc`lnlds pdr ac aoarm`m`d g`enc`znld ac => la l`m`ajhra la 86>1, prasaetnlds ae gdrjn mdjpnrnt`vn. \rnlumm`ýe c`hra nc Aspnþdc la cds Astnlds G`enem`ards Mdesdc`lnlds y Xapdrta neunc ( –Neeunc Xapdrt nel Mdesdc`lntal G`enem`nc ]tntajaets‚), aj`t`lds ae `l`djn @ebcàs n cds g`eas la  prasaetnm`ýe ae cn Hdcsn la Mdjarm`d la Cdelras (C]A)

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    BXQVD [email protected] ].N.

    XAVDX\A NEQNC MDXXA][email protected]\A NC [email protected]@D [email protected]]MNC Ed. >2 [email protected]@_NLD AC => LA [email protected]@AJHXA LA 86>1

     N mdet`eunm`ýe jaem`denjds cns pr`em`pncas sdm`alnlas mdetrdcnlns ”l`ramtn d `el`ramtnjaeta- pdr Brupd Mcnrêe ].N.? Nrta Brîg`md Al`tdr`nc Nrbaet`ed ].N. (NBAN), Nrtas Brîg`mns X`dpcntaesa ].N.(NBX), Mdjpnþên @evarsdrn ae Jal`ds la Mdjue`mnm`ýe ].N. ([email protected]), Mnhcav`s`ýe ].N. (Mnhcav`s`ýe), Vr`jarn Xal @etarnmt`vn la Jal`ds Nrbaet`eds ].N ([email protected]), Mdjpnþên la Jal`ds L`b`tncas ].N.(MJL), Nrta Xnl`dtacav`s`vd Nrbaet`ed ].N.(NX\ANX), BM Bast`ýe Mdjpnrt`ln ].N., @evarsdrn la Avaetds ].N.(@A]N) y Xnl`d J`tra ].N., aetra dtrns.

    MDE\A[\D JNMXDAMDEÝ[email protected] 86>1

    Cn amdedjên juel`nc sa axpnel`ý ae ac 86>1 n uen tnsn npaens supar`dr nc =,6%, pdr lahnod lac nþd netar`dr y tnjh`àe la cd prav`std dr`b`encjaeta pdr ac Gdeld Jdeatnr`d @etarenm`denc. Ae

    parspamt`vn k`stýr`mn, ac m`tnld r`tjd la mram`j`aetd rasuctý ac jaedr lac 86>6 n cn gamkn. Cn lasnmacarnm`ýe axk`h`ln pdr ac mdeouetd la amdedjêns ajarbaetas (ae huaen jal`ln `egcuaem`nln pdr cn rncaet`znm`ýe la Mk`en y cns savarns ramas`deas pnlam`lns pdr pnêsas brnv`tnetas lac hcdqua mdjd Xus`n, Hrns`c y Waeazuacn) ed cdbrý sar mdjpaesnln pdr ac jaodr lasajpaþd, nuequa racnt`vnjaeta s`be`g`mnt`vd, la cds pnêsas lasnrrdccnlds.

    Ae agamtd, ac mdeouetd la amdedjêns ajarbaetas s` h`ae mdet`euý mram`aeld pdr aem`jn lac prdjal`d, cd k`zd n su jaedr r`tjd lac ÿct`jd qu`equae`d (~,0%), nÿe muneld axk`h`ý uen cava jaodrn raspamtd lac 86>1 av`laem`ý ue lasmaesd lac >2% `etarneunc, aqu`vncaeta n Q]$>>,7 j`c JJ. Wnca m`tnr qua graeta nc rab`strd jîx`jd ncmneznld ae ac 86>>, cns axpdrtnm`deas nrbaet`ens nmujucne uen mnêln qua suparn cds Q]$82,6 j`c JJ. Ac nousta la cns `jpdrtnm`deas ae ac nþd, pdr su pnrta, njdrt`buý sýcd ae pnrta astn ratrnmm`ýe, baearneld ue làg`m`t ae ac hncnema mdjarm`nc (la Q]$=,6 j`c JJ) pdr pr`jarn vaz lac 8666 n cn gamkn.

    Cns raspuastns ae jntar`n la pdcêt`mn amdeýj`mn lnlns pdr huaen pnrta la cds pnêsas ajarbaetas axpdrtnldras la jntar`ns pr`jns `emcuyarde ae baearnc uen lapram`nm`ýe la sus jdealns ae tàrj`eds rancas dr`aetnln n njdrt`bunr cds agamtds la asta skdmi axtared eabnt`vd. Ae mdetrnsta, y la mnrn n cns eamas`lnlas la ue nþd acamtdrnc, ac gdmd la cn pdcêt`mn amdeýj`mn cdmnc maetrý su cýb`mn axpnes`vn ae cn lapram`nm`ýe lac pasd raspamtd lac lýcnr n ue r`tjd `egar`dr nc la cn `egcnm`ýe (ae ue mdetaxtd la npram`nm`ýe baearnc`znln lac lýcnr graeta n dtrns jdealns), prdguel`znm`ýe lac ntrnsd ae cns tnr`gns la m`artds sarv`m`ds pÿhc`mds y nmacarnm`ýe lac `jpucsd g`smnc mde àegns`s ae ac bnstd pÿhc`md.

    Xasuctnld la astn astrntab`n ed sustaetnhca ae ac t`ajpd, cn `egcnm`ýe (racavnln pdr Amdcnt`en) lasmael`ý ae dema jasas lac mns` =7% mde qua marrnrn ac 86>< nc 81% rab`strnld ae edv`ajhra. \netd ac [email protected] mdjd ac mdesujd pr`vnld rab`strnrde ue cava ramupard raspamtd lac ramasd pnlam`ld lurneta ac 86>

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    lajneln la l`v`sns lac samtdr pr`vnld ae mdemaptd la nkdrrd, v`noas y tur`sjd nc axtar`dr. Lah`ld n accd y n dtrds gnmtdras tncas mdjd ac ax`bud suparîv`t mdjarm`nc y ac jnydr sarv`m`d la lauln sdharnen, ac stdmi la rasarvns lac HMXN sa mdetrnod s`be`g`mnt`vnjaeta n cd cnrbd lac nþd, lasmael`aeld nc m`arra la cn bast`ýe la Mr`st`en Gareîelaz la I`rmkear n vncdras ae tdred n cds Q]$81,6 j`c JJ (mns` Q]$7,1 j`c JJ pdr lahnod lac rab`strd la m`arra lac 86>1 ue jdetd ràmdrl marmned n cds $>;6,6 j`c JJ pnrn ns`st`r nc \asdrd Enm`denc. Nc m`tnld g`enem`nj`aetd ae jdealn cdmnc laha sujnrsa cn ns`staem`n nc \asdrd ae jdealn axtrneoarn pdr ncbd jîs la Q]$>6,6 j`c JJ npc`mnlds nc pnbd lac sarv`m`d la lauln sdharnen. Vdr asta mdemaptd, ac \asdrd nmujucnhn nc m`arra la edv`ajhra ue aelaulnj`aetd mde ac Hnemd Maetrnc la ncralaldr la Q]$71,6 j`c JJ.

    Ae tnetd y la nmuarld nc ÿct`jd lntd mdrraspdel`aeta nc jas la sapt`ajhra, cn lauln sdharnen enm`denc ae s`tunm`ýe edrjnc la pnbd (qua vnca nmcnrnr ed `emcuya cn ed prasaetnln dpdrtuenjaeta n cds Mneoas y cn mdet`ebaeta lar`vnln la cds mupdeas [email protected]) sa acavý knstn cds Q]$88 nþds la bdh`areds i`rmkear`stns. Cns euavns nutdr`lnlas karalne uen amdedjên astnemnln ae vnr`ds graetas, mde jnrmnln asmnsaz la `evars`deas y acavnln `egcnm`ýe la nrrnstra, mdesamuaem`n ae cd guelnjaetnc lac s`be`g`mnt`vd ntrnsd mnjh`nr`d `emuhnld y ac brnva lasaqu`c`hr`d prasaeta ae sus muaetns pÿhc`mns.

     N cd m`tnld laha nbrabnrsa cn lasmnp`tnc`znm`ýe pnlam`ln ae ac Hnemd Maetrnc y ae samtdras astrntàb`mds mdjd ac aearbàt`md, nsê mdjd cn `etarvaem`ýe ae cns astnlêst`mns pÿhc`mns, qua knma `jprasm`el`hca uen nul`tdrên qua parj`tn dhtaear ue l`nbeýst`md mdrramtd raspamtd la cn s`tunm`ýe sdm`d-amdeýj`mn.

    Qen la cns pr`jarns jal`lns la pdcêt`mn amdeýj`mn `estrujaetnln, oust`g`mnln ae cn eamas`lnl la

    vdcvar n baearnr l`v`sns, gua cn ac`j`enm`ýe la cns rataem`deas n cns axpdrtnm`deas nbrdpamunr`ns(mde cn sdcn axmapm`ýe lac mnsd la cn sdon, muyn ncêmudtn sa raluod lac =1% nc =6%).

    Ae pnrncacd sa `estrujaetnrde uen sar`a la jal`lns dr`aetnlns n ramnp`tnc`znr ac stdmi la rasarvns lac Hnemd Maetrnc y guarde acavnlns cns tnsns la `etaràs `jpcêm`tns ae cns Catrns lac Hnemd Maetrnc (CAHNMs).

    @estrujaetnlns astns jal`lns, sa cdbrý nvneznr ae cn ue`g`mnm`ýe lac t`pd la mnjh`d y cn ac`j`enm`ýe la cns rastr`mm`deas pnrn ac nmmasd n l`v`sns la parsdens gês`mns y/d ourêl`mns (prasarvneld ÿe`mnjaeta ac tdpa la Q]$8,6 JJ/jas). Cn gcdtnm`ýe la cn pnr`lnl $/Q]$ rasuctý ae cds lêns rajneaetas la l`m`ajhra jaeds trnujît`mn la cd prav`stn, ncmnezneld ue pr`jar aqu`c`hr`d hnod cns rav`snlns tnsns la `etaràs y s`e `etarvaem`ýe la cn nutdr`lnl jdeatnr`n ae tdred n cds $/Q]$>=,6 (lapram`nm`ýe edj`enc lac 81,6.

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    Ac prdbrnjn g`smnc y la jatns la `egcnm`ýe ram`aetajaeta lnld n mdedmar pravà pnrn ac parêdld 86>7-86>0 trnyamtdr`ns la brnlunc mdrramm`ýe pnrn ac lasaqu`c`hr`d g`smnc y cn `egcnm`ýe karalnlns. Vnrn ac 86>7 ae pnrt`mucnr, pravà ue làg`m`t g`smnc pr`jnr`d la 1) y ue lasmaesd la cn `egcnm`ýe knstn ac rnebd lac 86 ” 81%.

    Ac cdbrd lac dhoat`vd g`smnc rasuctn mrum`nc pnrn ralum`r cn ldj`enem`n g`smnc sdhra cn pdcêt`mnjdeatnr`n y pdr aela mdemaetrnr nc Hnemd Maetrnc ae ac cdbrd lac dhoat`vd `egcnm`denr`d. Ae asta saet`ld, ued la cds ratds n cds qua sa laharî knmar graeta pnrn ncmneznr cn m`tnln jatn sarî mdetaear ae cds pr`jards jasas lac nþd ae mursd ac trnscnld n pram`ds lac s`emarnj`aetd mnjh`nr`d j`e`j`zneld ac usd la cn pdcêt`mn mnjh`nr`n pnrn tnc g`e. Wnca ramdrlnr qua cn k`stdr`n nrbaet`en aesaþn qua cns nhruptns mdrramm`deas dr`aetnlns n mdrrab`r ntrnsds mnjh`nr`ds nmujucnlds t`aeae ae ac mdrtd pcnzd agamtds `egcnm`denr`ds y ramas`vds jnydras n cds var`g`mnlds ae dtrds pnras la cn rab`ýe, y qua la ed sar njdrt`bunlds tarj`ene ards`deneld jîs tajprned qua tnrla cns bnenem`ns la mdjpat`t`v`lnl husmnlns ae dr`bae.

    Cd nrr`hn jaem`denld rasuja n brnelas rnsbds ac mdjpcaod asmaenr`d qua ae ac graeta ldjàst`md laharî aegraetnr cn amdedjên nrbaet`en n cd cnrbd lac 86>7. N cd m`tnld lahae nbrabnrsa l`g`muctnlas la mnrîmtar axýbaed, tncas mdjd cn raedvnln pras`ýe n cn hnon prav`stn pnrn ac pram`d la cns jntar`ns pr`jns nbrêmdcns y cn mdet`eu`lnl prdyamtnln tnetd pnrn ac savard prdmasd ramas`vd qua ntrnv`asn Hrns`c mdjd pnrn cn brnlunc lasnmacarnm`ýe qua av`laem`n cn amdedjên mk`en (njhds pr`em`pncas sdm`ds mdjarm`ncas la cn Nrbaet`en).

    Ae sêetas`s, ac prdmasd la edrjnc`znm`ýe la cn amdedjên rasuctn pdr lajîs lasng`neta. Cn rastnurnm`ýe y cn prasarvnm`ýe la cds aqu`c`hr`ds jnmrd guelnjaetncas sde pnsds eamasnr`ds pnrn qua cn amdedjên nrbaet`en cdbra astnhcamar ue saelard lac mram`j`aetd sdstae`ld y aemnrnr uen vaz jîs cn nbaeln pnrn ncmneznr ac tne nes`nld y knstn nkdrn asqu`vd astnlêd supar`dr la lasnrrdccd.

    AC NÞD 86>1 P CN @ELQ]\[email protected] LA [email protected]] AE CN NXBAE\@EN P AC JQELD

    Ac lasajpaþd la cn `elustr`n la jal`ds y aetratae`j`aetd n e`vac bcdhnc cdbrý jnetaear n cd cnrbd lac 86>1 cn avdcum`ýe rab`strnln ae nþds netar`dras, la nmuarld nc ram`aeta –\ka Bcdhnc aetartn`ejaet nel jal`n Dutcddi 86>1-86>0‚  acnhdrnld pdr Vr`ma Rntarkdusa & Md, qua nenc`zn cn s`tunm`ýe nmtunc la cds pr`em`pncas sabjaetds la cn `elustr`n ae 1< pnêsas y acnhdrn prdyamm`deas qu`equaencas. Ac mdesdc`lnld la `ebrasds la astn `elustr`n marrý ac nþd hnod neîc`s`s axk`h`aeld ue nczn s`j`cnr nc lac 86>< (nprdx`jnlnjaeta lac 1%), supar`dr n cn dhsarvnln pdr ac [email protected] juel`nc (ae tdred nc =% sabÿe [email protected] y Hnemd Juel`nc) y la mnrîmtar katardbàead ae v`rtul la cns vnr`nlns l`jaes`deas y brnld la jnluraz la mnln ued la cds jarmnlds hnod neîc`s`s.

    Cn rab`ýe cnt`ednjar`mnen ae pnrt`mucnr suparn asa prdjal`d, nuequa ae jaedr jnbe`tul qua ae nþds netar`dras. Ac aoa maetrnc la astn mdelumtn rnl`mn ae ac mram`j`aetd la cn mcnsa jal`n ae cn brne jnydrên la cds pnêsas la cn rab`ýe, qua `emdrpdrn euavds mdesuj`ldras n cn `elustr`n la jal`ds. Cn