| Note 2 - Cost of sales |
2 Cost of sales
|
|
Year ended December 31,
|
|
|
|
2025
|
|
|
2024
|
|
|
2023
|
|
|
Inventories at the beginning of the year
|
3,709,942
|
|
|
3,921,097
|
|
|
3,986,929
|
|
|
Changes in inventories due to business combinations (*)
|
-
|
|
|
52,792
|
|
|
107,588
|
|
|
Decrease in inventory due to deconsolidation of subsidiaries (**)
|
(43
|
) |
|
-
|
|
|
-
|
|
|
Plus: Charges of the year
|
|
|
|
|
|
|
|
|
|
Raw materials, energy, consumables and other
|
4,425,441
|
|
|
4,638,681
|
|
|
5,277,507
|
|
|
Services and fees
|
367,532
|
|
|
408,478
|
|
|
437,804
|
|
|
Labor cost
|
1,411,608
|
|
|
1,454,924
|
|
|
1,403,546
|
|
|
Depreciation of property, plant and equipment
|
476,215
|
|
|
483,535
|
|
|
424,373
|
|
|
Amortization of intangible assets
|
13,602
|
|
|
12,193
|
|
|
11,582
|
|
|
Depreciation of right-of-use assets
|
37,844
|
|
|
34,332
|
|
|
30,352
|
|
|
Maintenance expenses
|
338,042
|
|
|
443,498
|
|
|
408,410
|
|
|
Allowance for obsolescence
|
53,700
|
|
|
41,240
|
|
|
13,581
|
|
|
Taxes
|
417,380
|
|
|
124,500
|
|
|
272,120
|
|
|
Other
|
211,539
|
|
|
230,161
|
|
|
216,220
|
|
|
|
7,752,860
|
|
|
7,924,334
|
|
|
8,603,083
|
|
|
Less: Inventories at the end of the year
|
(3,602,058
|
) |
|
(3,709,942
|
) |
|
(3,921,097
|
) |
|
|
7,860,744
|
|
|
8,135,489
|
|
|
8,668,915
|
|
| (*) |
For the year 2023, related to the GPC, Isoplus anticorrosion coating division and Mattr’s pipe coating business unit acquisitions. |
|
For the year 2024, related to Mattr’s pipe coating business unit acquisition. |
| (**) |
For the year 2025, related to the deconsolidation of Amaja Tubular Services Limited. |
|