Business Context and Reporting Period
Company: Grupo Supervielle S.A.
Filing Type: Form 6-K (Report of Foreign Issuer)
Date: May 10, 2019
Context: This filing serves as a notification that the Company has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2018, with the U.S. Securities and Exchange Commission (SEC).
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The document is a procedural notice regarding the availability of the Annual Report 20-F rather than a financial statement itself.
Material Changes and Accounting Standards
- Adoption of IFRS: Starting with fiscal year 2018, the Company's financial statements issued for regulatory purposes in Argentina follow International Financial Reporting Standards (IFRS) as adopted by the Central Bank of the Republic of Argentina (BCRA), excluding IFRS 9 paragraph 5.5 (Impairment) and IAS 29 (Hyperinflationary Economies).
- SEC Reporting Standards: For the Annual Report 20-F filed with the SEC, the Company presents financial statements under full IFRS without exceptions. This includes the expected loss model of IFRS 9 and inflation adjustments under IAS 29.
- Discontinuation of Reconciliation: Due to the presentation of the balance sheet under full IFRS, reconciliation with U.S. GAAP has been discontinued.
- Significant Differences: The SEC-reported financial statements present significant differences compared to those issued under BCRA standards due to the inclusion of the IFRS 9 expected loss model and IAS 29 inflation adjustments.
Guidance, Outlook, and Risks
The filing does not contain specific management guidance, outlook, or risk factors. It notes that the Company's website (www.gruposupervielle.com) contains an explanation of the methodology for calculating inflation adjustments and a reconciliation between the BCRA presentation rules and the Full IFRS used in the Annual Report 20-F.
Investor Verification Checklist
- Verify the full Annual Report 20-F for the fiscal year ended December 31, 2018, on the SEC website or the Company's website.
- Review the reconciliation table on the Company's website to understand the quantitative impact of IAS 29 (inflation) and IFRS 9 (impairment) on the financial statements.
- Confirm that U.S. GAAP reconciliation is no longer provided in future filings due to the full IFRS adoption.