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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 3/08/21 Aenza S.A.A. 6-K 3/05/21 1:4.9M Business Wire/FA |
Document/Exhibit Description Pages Size 1: 6-K Aenza S.A.A. Form 6-K HTML 2.18M
CONTENTS
|
Page
|
Report of Independent Auditors
|
1 - 2
|
Consolidated Statement of Financial Position
|
3
|
Consolidated Statement of Income
|
4
|
Consolidated Statement of Comprehensive Income
|
5
|
Consolidated Statement of Changes in Equity
|
6
|
Consolidated Statement of Cash Flows
|
7
|
Notes to the Consolidated Financial Statements
|
8 – 113
|
|
|
(FREE TRANSLATION)
|
AENZA S.A.A. (FORMERLY GRAÑA Y MONTERO S.A.A.) AND SUBSIDIARIES
|
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
|
(All amounts are expressed in thousands of S/ unless otherwise stated)
|
ASSETS
|
||||||
As of December 31,
|
||||||
Note
|
2019
|
2020
|
||||
(as restated)
|
||||||
Current assets
|
||||||
Cash and cash equivalents
|
9
|
950,701
|
900,168
|
|||
Trade accounts receivables, net
|
10
|
914,204
|
703,167
|
|||
Work in progress, net
|
11
|
49,457
|
186,433
|
|||
Accounts receivable from related parties
|
12
|
36,658
|
27,338
|
|||
Other accounts receivable
|
13
|
454,474
|
477,165
|
|||
Inventories, net
|
14
|
555,401
|
552,000
|
|||
Prepaid expenses
|
16,478
|
22,972
|
||||
2,977,373
|
2,869,243
|
|||||
Non-current assets as held for sale
|
2,398
|
-
|
||||
Total current assets
|
2,979,771
|
2,869,243
|
||||
Non-current assets
|
||||||
Trade accounts receivable, net
|
10
|
779,609
|
730,666
|
|||
Work in progress, net
|
11
|
23,117
|
-
|
|||
Accounts receivable from related parties
|
12
|
574,723
|
620,071
|
|||
Prepaid expenses
|
27,934
|
22,264
|
||||
Other accounts receivable
|
13
|
273,432
|
328,223
|
|||
Investments in associates and joint ventures
|
15
|
37,035
|
35,516
|
|||
Investment property
|
28,326
|
26,073
|
||||
Property, plant and equipment, net
|
16
|
463,990
|
405,469
|
|||
Intangible assets, net
|
17
|
854,227
|
791,990
|
|||
Right-of-use assets, net
|
16.2
|
90,581
|
64,518
|
|||
Deferred income tax asset
|
24
|
271,719
|
262,623
|
|||
Total non-current assets
|
3,424,693
|
3,287,413
|
||||
Total assets
|
6,404,464
|
6,156,656
|
||||
The accompanying notes on pages 8 to 113 are an integral part of the consolidated financial statements.
|
LIABILITIES AND EQUITY
|
||||||
As of December 31,
|
||||||
Note
|
2019
|
2020
|
||||
(as restated)
|
||||||
Current liabilities
|
||||||
Borrowings
|
18
|
481,529
|
452,884
|
|||
Bonds
|
19
|
44,737
|
58,446
|
|||
Trade accounts payable
|
20
|
1,159,075
|
1,097,167
|
|||
Accounts payable to related parties
|
12
|
38,916
|
43,818
|
|||
Current income tax
|
51,169
|
34,494
|
||||
Other accounts payable
|
21
|
669,674
|
718,406
|
|||
Provisions
|
22
|
113,483
|
141,744
|
|||
Total current liabilities
|
2,558,583
|
2,546,959
|
||||
Non-current liabilities
|
||||||
Borrowings
|
18
|
409,066
|
445,436
|
|||
Bonds
|
19
|
879,305
|
874,313
|
|||
Trade accounts payable
|
20
|
34,814
|
40,502
|
|||
Other accounts payable
|
21
|
296,290
|
183,230
|
|||
Accounts payable to related parties
|
12
|
22,583
|
36,297
|
|||
Provisions
|
22
|
214,952
|
237,836
|
|||
Derivative financial instruments
|
52
|
-
|
||||
Deferred income tax liability
|
24
|
112,734
|
102,907
|
|||
Total non-current liabilities
|
1,969,796
|
1,920,521
|
||||
Total liabilities
|
4,528,379
|
4,467,480
|
||||
Equity
|
23
|
|||||
Capital
|
871,918
|
871,918
|
||||
Legal reserve
|
132,011
|
132,011
|
||||
Voluntary reserve
|
29,974
|
29,974
|
||||
Share Premium
|
1,132,179
|
1,131,574
|
||||
Other reserves
|
(177,506)
|
(169,234)
|
||||
Retained earnings
|
(510,766)
|
(635,101)
|
||||
Equity attributable to controlling interest in the Company
|
1,477,810
|
1,361,142
|
||||
Non-controlling interest
|
398,275
|
328,034
|
||||
Total equity
|
1,876,085
|
1,689,176
|
||||
Total liabilities and equity
|
6,404,464
|
6,156,656
|
||||
AENZA S.A.A. (FORMERLY GRAÑA Y MONTERO S.A.A.) AND SUBSIDIARIES
|
||||||||||||
CONSOLIDATED STATEMENT OF INCOME
|
||||||||||||
(All amounts are expressed in thousands of S/ unless otherwise stated)
|
||||||||||||
For the year
|
||||||||||||
ended December 31,
|
||||||||||||
Note
|
2019
|
2020
|
||||||||||
(as restated)
|
||||||||||||
Revenues from construction activities
|
2,411,880
|
1,815,671
|
||||||||||
Revenues from services provided
|
1,254,059
|
1,055,423
|
||||||||||
Revenue from real estate and sale of goods
|
671,922
|
442,935
|
||||||||||
4,337,861
|
3,314,029
|
|||||||||||
Cost of construction activities
|
(2,351,563
|
)
|
(1,716,309
|
)
|
||||||||
Cost of services provided
|
(1,035,251
|
)
|
(929,206
|
)
|
||||||||
Cost of real estate and sale of goods
|
(500,610
|
)
|
(347,906
|
)
|
||||||||
26
|
(3,887,424
|
)
|
(2,993,421
|
)
|
||||||||
Gross profit
|
450,437
|
320,608
|
||||||||||
Administrative expenses
|
26
|
(248,652
|
)
|
(152,909
|
)
|
|||||||
Other income and expenses
|
28
|
(339,494
|
)
|
(87,232
|
)
|
|||||||
Operating (loss) profit
|
(137,709
|
)
|
80,467
|
|||||||||
Financial expenses
|
27
|
(253,134
|
)
|
(156,943
|
)
|
|||||||
Financial income
|
27
|
74,346
|
37,231
|
|||||||||
Share of the profit or loss of associates and joint ventures accounted for using the equity method
|
15 a)-b)
|
|
(218,774
|
)
|
770
|
|||||||
Loss before income tax
|
(535,271
|
)
|
(38,475
|
)
|
||||||||
Income tax expense
|
29
|
(303,371
|
)
|
(57,989
|
)
|
|||||||
Loss for the year
|
(838,642
|
)
|
(96,464
|
)
|
||||||||
(Loss) profit attributable to:
|
||||||||||||
Owners of the Company
|
(884,721
|
)
|
(124,335
|
)
|
||||||||
Non-controlling interest
|
46,079
|
27,871
|
||||||||||
(838,642
|
)
|
(96,464
|
)
|
|||||||||
Loss per share attributable to owners of the
|
||||||||||||
Company during the year
|
34
|
(1.076
|
)
|
(0.143
|
)
|
|||||||
The accompanying notes on pages 8 to 113 are an integral part of the consolidated financial statements.
|
AENZA S.A.A. (FORMERLY GRAÑA Y MONTERO S.A.A.) AND SUBSIDIARIES
|
||||||||||||
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
|
||||||||||||
(All amounts are expressed in thousands of S/ unless otherwise stated)
|
||||||||||||
For the year
|
||||||||||||
ended December 31,
|
||||||||||||
Note
|
2019
|
2020
|
||||||||||
Loss for the year
|
(838,642
|
)
|
(96,464
|
)
|
||||||||
Other comprehensive income:
|
||||||||||||
Items that may be subsequently reclassified to profit or loss
|
||||||||||||
Cash flow hedge, net of tax
|
30
|
6
|
(626
|
)
|
||||||||
Foreign currency translation adjustment, net of tax
|
30
|
(8,170
|
)
|
8,304
|
||||||||
Exchange difference from net investment in a foreign operation, net of tax
|
30
|
(456
|
)
|
708
|
||||||||
Other comprehensive income for the year, net of tax
|
(8,620
|
)
|
8,386
|
|||||||||
Total comprehensive income for the year
|
(847,262
|
)
|
(88,078
|
)
|
||||||||
Comprehensive income attributable to:
|
||||||||||||
Owners of the Company
|
(891,607
|
)
|
(116,063
|
)
|
||||||||
Non-controlling interest
|
44,345
|
27,985
|
||||||||||
(847,262
|
)
|
(88,078
|
)
|
|||||||||
The accompanying notes on pages 8 to 113 are an integral part of the consolidated financial statements.
|
AENZA S.A.A. (FORMERLY GRAÑA Y MONTERO S.A.A.) AND SUBSIDIARIES
|
||||||||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
|
||||||||||||||||||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2019 AND 2020
|
||||||||||||||||||||||||||||||||||||||||
(All amounts are expressed in thousands of S/ unless otherwise stated)
|
||||||||||||||||||||||||||||||||||||||||
Attributable to the controlling interests of the Company
|
||||||||||||||||||||||||||||||||||||||||
Number
|
||||||||||||||||||||||||||||||||||||||||
of shares
|
Legal
|
Voluntary
|
Share
|
Other
|
Retained
|
Non-controlling
|
||||||||||||||||||||||||||||||||||
In thousands
|
Capital
|
reserve
|
reserve
|
premium
|
reserves
|
earnings
|
Total
|
interest
|
Total
|
|||||||||||||||||||||||||||||||
Balances as of January 1, 2019
|
729,434
|
729,434
|
132,011
|
29,974
|
992,144
|
(170,620
|
)
|
375,417
|
2,088,360
|
401,571
|
2,489,931
|
|||||||||||||||||||||||||||||
- IFRS adoption
|
-
|
-
|
-
|
-
|
-
|
-
|
(1,462
|
)
|
(1,462
|
)
|
-
|
(1,462
|
)
|
|||||||||||||||||||||||||||
Initial balances restated
|
729,434
|
729,434
|
132,011
|
29,974
|
992,144
|
(170,620
|
)
|
373,955
|
2,086,898
|
401,571
|
2,488,469
|
|||||||||||||||||||||||||||||
(Loss) profit for the year
|
-
|
-
|
-
|
-
|
-
|
-
|
(884,721
|
)
|
(884,721
|
)
|
46,079
|
(838,642
|
)
|
|||||||||||||||||||||||||||
Cash flow hedge
|
-
|
-
|
-
|
-
|
-
|
6
|
-
|
6
|
-
|
6
|
||||||||||||||||||||||||||||||
Foreign currency translation adjustment
|
-
|
-
|
-
|
-
|
-
|
(6,440
|
)
|
-
|
(6,440
|
)
|
(1,730
|
)
|
(8,170
|
)
|
||||||||||||||||||||||||||
Exchange difference from net investment in a foreign operation
|
-
|
-
|
-
|
-
|
-
|
(452
|
)
|
-
|
(452
|
)
|
(4
|
)
|
(456
|
)
|
||||||||||||||||||||||||||
Comprehensive income of the year
|
-
|
-
|
-
|
-
|
-
|
(6,886
|
)
|
(884,721
|
)
|
(891,607
|
)
|
44,345
|
(847,262
|
)
|
||||||||||||||||||||||||||
Transactions with shareholders:
|
||||||||||||||||||||||||||||||||||||||||
- Dividend distribution
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(12,762
|
)
|
(12,762
|
)
|
||||||||||||||||||||||||||||
- Contributions (devolution) of non-controlling shareholders, net
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(32,996
|
)
|
(32,996
|
)
|
||||||||||||||||||||||||||||
- Additional acquisition of non-controlling
|
-
|
-
|
-
|
-
|
1,883
|
-
|
-
|
1,883
|
(1,883
|
)
|
-
|
|||||||||||||||||||||||||||||
- Capital Increase
|
142,484
|
142,484
|
-
|
-
|
138,152
|
-
|
-
|
280,636
|
-
|
280,636
|
||||||||||||||||||||||||||||||
Total transactions with shareholders
|
142,484
|
142,484
|
-
|
-
|
140,035
|
-
|
-
|
282,519
|
(47,641
|
)
|
234,878
|
|||||||||||||||||||||||||||||
Balances as of December 31, 2019
|
871,918
|
871,918
|
132,011
|
29,974
|
1,132,179
|
(177,506
|
)
|
(510,766
|
)
|
1,477,810
|
398,275
|
1,876,085
|
||||||||||||||||||||||||||||
Balances as of January 1, 2020
|
871,918
|
871,918
|
132,011
|
29,974
|
1,132,179
|
(177,506
|
)
|
(510,766
|
)
|
1,477,810
|
398,275
|
1,876,085
|
||||||||||||||||||||||||||||
(Loss) profit for the year
|
-
|
-
|
-
|
-
|
-
|
-
|
(124,335
|
)
|
(124,335
|
)
|
27,871
|
(96,464
|
)
|
|||||||||||||||||||||||||||
Cash flow hedge
|
-
|
-
|
-
|
-
|
-
|
(594
|
)
|
-
|
(594
|
)
|
(32
|
)
|
(626
|
)
|
||||||||||||||||||||||||||
Foreign currency translation adjustment
|
-
|
-
|
-
|
-
|
-
|
8,158
|
-
|
8,158
|
146
|
8,304
|
||||||||||||||||||||||||||||||
Exchange difference from net investment in a foreign operation
|
-
|
-
|
-
|
-
|
-
|
708
|
-
|
708
|
-
|
708
|
||||||||||||||||||||||||||||||
Comprehensive income of the year
|
-
|
-
|
-
|
-
|
-
|
8,272
|
(124,335
|
)
|
(116,063
|
)
|
27,985
|
(88,078
|
)
|
|||||||||||||||||||||||||||
Transactions with shareholders:
|
||||||||||||||||||||||||||||||||||||||||
- Dividend distribution
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(82,412
|
)
|
(82,412
|
)
|
||||||||||||||||||||||||||||
- Contributions (devolution) of non-controlling shareholders, net
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(15,725
|
)
|
(15,725
|
)
|
||||||||||||||||||||||||||||
- Additional acquisition of non-controlling
|
-
|
-
|
-
|
-
|
(605
|
)
|
-
|
-
|
(605
|
)
|
(89
|
)
|
(694
|
)
|
||||||||||||||||||||||||||
Total transactions with shareholders
|
-
|
-
|
-
|
-
|
(605
|
)
|
-
|
-
|
(605
|
)
|
(98,226
|
)
|
(98,831
|
)
|
||||||||||||||||||||||||||
Balances as of December 31, 2020
|
871,918
|
871,918
|
132,011
|
29,974
|
1,131,574
|
(169,234
|
)
|
(635,101
|
)
|
1,361,142
|
328,034
|
1,689,176
|
||||||||||||||||||||||||||||
The accompanying notes on pages 8 to 113 are an integral part of the consolidated financial statements.
|
AENZA S.A.A. (FORMERLY GRAÑA Y MONTERO S.A.A.) AND SUBSIDIARIES
|
||||||||||||
CONSOLIDATED STATEMENT OF CASH FLOWS
|
||||||||||||
(All amounts are expressed in thousands of S/ unless otherwise stated)
|
||||||||||||
For the year
|
||||||||||||
ended December 31,
|
||||||||||||
Note
|
2019
|
2020
|
||||||||||
OPERATING ACTIVITIES
|
||||||||||||
Loss before income tax
|
(535,271
|
)
|
(38,475
|
)
|
||||||||
Adjustments to profit not affecting cash flows from
|
||||||||||||
operating activities:
|
||||||||||||
Depreciation
|
26
|
112,318
|
98,504
|
|||||||||
Amortization
|
26
|
107,499
|
98,621
|
|||||||||
Impairment of inventories
|
26
|
4,503
|
791
|
|||||||||
Impairment of accounts receivable and other accounts receivable
|
26
|
290,491
|
91,330
|
|||||||||
Reversal of impairment of inventories
|
(4,752
|
)
|
(821
|
)
|
||||||||
Debt condonation
|
(18,186
|
)
|
(9,451
|
)
|
||||||||
Impairment (reversal) of property, plant and equipment
|
26
|
20,018
|
-
|
|||||||||
Impairment of intangible assets
|
28
|
45,821
|
-
|
|||||||||
Reversal of impairment of accounts receivable
|
(19,448
|
)
|
-
|
|||||||||
Reversal of impairment of intangible assets
|
(20,676
|
)
|
-
|
|||||||||
Change in the fair value of the liability for put option
|
28
|
4,697
|
245
|
|||||||||
Other provisions
|
22
|
186,894
|
80,673
|
|||||||||
Financial expense,net
|
167,872
|
225,212
|
||||||||||
Impairment of investment
|
384
|
38
|
||||||||||
Incremental cost accrued
|
-
|
8,875
|
||||||||||
Share of the profit and loss of associates and joint ventures accounted for using the equity method
|
15 a)-b)
|
|
218,774
|
(770
|
)
|
|||||||
Reversal of provisions
|
22
|
(7,471
|
)
|
(36,827
|
)
|
|||||||
Disposal (reversal) of assets
|
349
|
8,895
|
||||||||||
Profit on sale of property, plant and equipment
|
16
|
(11,892
|
)
|
(2,322
|
)
|
|||||||
Profit on remeasurement of accounts receivable
|
45,363
|
(25,888
|
)
|
|||||||||
Net variations in assets and liabilities:
|
||||||||||||
Trade accounts receivable and working in progress
|
457,709
|
131,674
|
||||||||||
Other accounts receivable
|
148,833
|
(46,120
|
)
|
|||||||||
Other accounts receivable from related parties
|
(11,178
|
)
|
(20,461
|
)
|
||||||||
Inventories
|
(34,091
|
)
|
22,578
|
|||||||||
Pre-paid expenses and other assets
|
4,964
|
(823
|
)
|
|||||||||
Trade accounts payable
|
58,973
|
(42,062
|
)
|
|||||||||
Other accounts payable
|
(286,110
|
)
|
(58,013
|
)
|
||||||||
Other accounts payable to related parties
|
(24,461
|
)
|
3,591
|
|||||||||
Other provisions
|
(1,134
|
)
|
(9,051
|
)
|
||||||||
Interest payment
|
(172,377
|
)
|
(137,369
|
)
|
||||||||
Payments for purchases of intangibles - Concessions
|
(25,917
|
)
|
(3,519
|
)
|
||||||||
Payment of income tax
|
(94,669
|
)
|
(112,851
|
)
|
||||||||
Net cash provided by operating activities
|
607,829
|
226,024
|
||||||||||
INVESTING ACTIVITIES
|
||||||||||||
Sale of property, plant and equipment
|
18,607
|
9,118
|
||||||||||
Interest received
|
6,552
|
4,292
|
||||||||||
Dividends received
|
15 a)-b)
|
|
1,517
|
2,318
|
||||||||
Payment for purchase of investments properties
|
(88
|
)
|
(98
|
)
|
||||||||
Payments for intangible purchase
|
(84,201
|
)
|
(46,767
|
)
|
||||||||
Payments for property, plant and equipment purchase
|
(93,017
|
)
|
(33,596
|
)
|
||||||||
Net cash applied to investing activities
|
(150,630
|
)
|
(64,733
|
)
|
||||||||
FINANCING ACTIVITIES
|
||||||||||||
Loans received
|
644,312
|
185,644
|
||||||||||
Amortization of loans received
|
(1,130,301
|
)
|
(275,163
|
)
|
||||||||
Amortization of bonds issued
|
(31,335
|
)
|
(37,981
|
)
|
||||||||
Payment for transaction costs for debt
|
(4,770
|
)
|
-
|
|||||||||
Dividends paid to non-controlling interest
|
35 d)
|
|
(12,762
|
)
|
(82,412
|
)
|
||||||
Cash received (return of contributions) from non-controlling shareholders
|
(32,996
|
)
|
(15,725
|
)
|
||||||||
Capital increase
|
23
|
280,636
|
-
|
|||||||||
Net cash applied to financing activities
|
(287,216
|
)
|
(225,637
|
)
|
||||||||
Net increase (net decrease) in cash
|
169,983
|
(64,346
|
)
|
|||||||||
Exchange difference
|
(20,303
|
)
|
13,813
|
|||||||||
Cash and cash equivalents at the beginning of the year
|
801,021
|
950,701
|
||||||||||
Cash and cash equivalents at the end of the year
|
9
|
950,701
|
900,168
|
|||||||||
NON-CASH TRANSACTIONS:
|
||||||||||||
Capitalization of interests
|
7,229
|
4,887
|
||||||||||
Acquisition of assets through finance leases
|
3,851
|
71
|
||||||||||
Acquisition of right-of-use assets
|
101,745
|
12,075
|
||||||||||
Reclassification to other accounts receivable by Concesionaria Vía Expresa Sur
|
-
|
24,157
|
||||||||||
Acquisition of supplier bonds
|
-
|
25,871
|
||||||||||
The accompanying notes on pages 8 to 113 are an integral part of the consolidated financial statements.
|
•
|
On January 9, 2017, the Board of Directors approved the opening of an independent investigation related to six projects developed in association with companies of
the Odebrecht Group.
|
• | On March 2, 2017, a new Corporate General Manager was appointed and on March 31, 2017, the shareholders appointed a new Board of Directors with an independent majority, all non-executive
directors, introducing fundamental changes in the corporate governance and culture of the Corporation. |
•
|
On March 30, 2017, the Board of Directors created the Risk and Compliance Committee, who was in charge of the oversight of the investigation independently from
Management. The investigation was conducted by the law firm Simpson Thacher & Bartlett LLP, with the assistance of forensic accountants, who reported exclusively to the Risk and Compliance Committee.
|
•
|
The external investigation concluded on November 2, 2017 and found no evidence that the Company or its subsidiaries or any of its directors or officers, former or
current, have intentionally or knowingly participated in acts of corruption related to the projects developed in association with Odebrecht.
|
•
|
Subsequently, in August 2019, José Graña Miró Quesada, a shareholder and former chairman of our Company's Board of Directors, publicly announced that he and
Hernando Graña Acuña, a shareholder and former member of the Company's Board of Directors, had initiated a process of plea bargaining to cooperate with Peruvian prosecutors in relation to the investigations of “Lava Jato” case and others
in progress. Due to the reserved nature of the plea bargain process, it is impossible for us to know of verify the statements made by the aforementioned persons within the scope of those processes. Any admission or other evidence provided
that corroborate wrongdoing could be inconsistent with the investigations carried out and could have a significant impact on your conclusions.
|
•
|
As new information emerged, the Company's Board of Directors continued to investigate the facts that were the subject of the criminal investigations, including
matters relating to the “Construction Club”, which scope was outside of the investigation carried out by Simpson Thacher & Bartlett LLP. After an extensive and detailed review process, it was decided to share all the findings with the
Peruvian authorities within the framework of a plea bargain process, in line with the Company's committment to transparency and integrity.
|
•
|
As a result of its contribution to the investigations, on December 27, 2019, the Company signed a preliminary agreement whereby the Anti-Corruption Prosecutor
Office and the Ad Hoc Prosecutor's Office promise to execute a final plea bargain agreement with the Company that would provide the Company with certainty regarding the contingencies it faces as a result of the above-mentioned processes.
Additionally, in the aforementioned preliminary agreement, the Anti-Corruption Prosecutor Office and the Ad Hoc Attorney General's Office authorize the Company to disclose the existence of the agreement but to maintain its content
confidential.
|
• |
At the same time, since the beginning of year 2017, the new administration together with the new Board of Directors began a transformation process based on the principles of Truth, Transparency and
Integrity, making profound changes in the organization supported by a Board of Directors with an independent majority, as well as the creation of new governance practices, such as the Corporate Risk Management and autonomous Compliance
function, with direct report to the Board of Directors, among other actions
|
•
|
IIRSA Sur
|
In relation to investigations on IIRSA Sur, the former Chairman of the Board of Directors was included as a subject of an investigation for collusion, and a
former director and a former executive was included as a subject of an investigation for money laundering. Subsequently, Graña y Montero S.A.A. and GyM S.A. were included as civilly liable third-party responsible in the process, which means
that it will be assessed whether the obligation to indemnify Governement for damages resulting from the facts under investigation will be imposed on these entities.
|
|
•
|
Electric Train Construction Project
|
The first Preparatory Investigation Court of the Judiciary decided to incorporate GyM S.A. as civilly liable third-party responsible in the process related to the
construction of the Electric train construction Project, tranches 1 and 2. In this investigation a former Chairman of the Board of Directors, a former Director and a former Manager have been charged.
|
-
|
The obligation to set up a trust that will guarantee any eventual payment obligation of an eventual civil compensation in favor of the Peruvian Government;
|
-
|
The obligation not to transfer funds abroad without the prior consent of the Ministry of Justice;
|
-
|
The implementation of a compliance program; and
|
-
|
The obligation to disclose information to the authorities and to collaborate in the investigation.
|
a.
|
Line 1 of the Metro operated with fewer passengers but revenues were not impacted due to the fact that revenues don’t depend on traffic but on the amount of kms
travelled by each train.
|
b.
|
The oil and gas business was impacted by the reduction of the oil Price to levels below the estimations considered for 2020. During the sanitary crisis, the
enforceability of further investment obligation on new wells in Lots III and IV was suspended obligations with suppliers were renegotiated.
|
c.
|
The state emergency situation caused an impact on Norvial S.A. revenues and on the results of 2020 as a result of lower vehicle traffic until July. In addition,
in May the Peruvian Congress approved a law in order suspending the collection of tolls, a measure that was in effect from May 9 to June 30, 2020. Norvial S.A. has claimed from the State the payment of a compensation foreseen in clause 9.9
of the Concession Contract, which establishes the obligation of the Grantor to recognize and pay the Concessionaire the corresponding tariff difference in the event that any public entity does not allow the Concessionaire to collect the
tariff as stipulated in the same contract.
|
d.
|
In the road concessions Survial S.A. and Concesion Canchaque S.A. the suspension in the collection of tolls did not impact the results of the year as the revenues
do not depend on vehicle traffic.
|
d)
|
Joint arrangements
|
c)
|
Corporation companies
|
i)
|
Assets and liabilities for each statement of financial position are translated using the closing exchange rate prevailing at the date of the consolidated
statement of financial position;
|
ii)
|
income and expenses for each income statement are translated at the average exchange rate (unless this average is not a reasonable approximation of the cumulative
effect of the rates prevailing on the transaction dates, in which case income and expenses are translated using the exchange rate on the date of the transaction);
|
iii)
|
capital is translated by using the historical exchange rate for each capital contribution made; and
|
iv)
|
all exchange differences are recognized as separate components in other comprehensive income, within foreign currency translations adjustment.
|
a)
|
It is recognized as a financial asset to the extent that it has a contractual right to receive cash or other financial assets either because the Government
secures the payment of specified or determinable amounts or because the Government will cover any difference arising from the amounts actually received from public service users in relation with the specified or determinable amounts.
These financial assets are recognized initially at fair value and subsequently at amortized cost (financial asset model).
|
b)
|
It is recognized as an intangible asset to the extent that the service agreement grants the Corporation a contractual right to charge users of the public
service. The resulting intangible asset is measured at cost and is amortized as described in Note 2.15 (intangible asset model).
|
c)
|
It is recognized as a financial asset and an intangible asset when the Corporation recovers its investment partially by a financial asset and partially by an
intangible asset (bifurcated model).
|
b)
|
Exploration and extraction activities
|
Years
|
||
Buildings and facilities
|
Between 3 and 50
|
|
Machinery and equipment
|
Between 2 and 10
|
|
Vehicles
|
Between 2 and 10
|
|
Furniture and fixtures
|
Between 2 and 10
|
|
Other equipment
|
Between 2 and 10
|
ii)
|
Trademarks
|
iv)
|
Contractual relationships with customers
|
-
|
technically feasible to complete the software product so that it will be available for use;
|
-
|
management intends to complete the software product and use or sell it;
|
-
|
there is the ability to use or sell the software product;
|
-
|
it can be demonstrated how the software product will probably generate future economic benefits;
|
-
|
technical, financial and other resources are available to complete the development and to use or sell the software product; and
|
-
|
expenses incurred during its development can be reliably measured.
|
c)
|
Workers’ profit sharing and incentives
|
ii)
|
Real-estate – Real estate, urban and industrial lots
|
●
|
If you have the right to control the use of the identified asses,
|
●
|
If the contract term is longer that twelve months,
|
●
|
If the underlying asset amount is a material amount, and,
|
●
|
That the fees to be paid are not entirely variable.
|
a)
|
The receivable balance to Consorcio Constructor Ductos del Sur amounting to S/27.8 million as of December 31, 2019 was reclassified from “other accounts
receivable” to “accounts receivable from related parties”.
|
|
b)
|
Information on the subsidiary Adexus S.A. is presented. (hereinafter “Adexus”), whose main activity is to provide information technology solutions mainly in Chile
and Peru, as of December 31, 2019 the subsidiary was recognized as a non-current asset held for sale; However, as of September 30, 2020, it was reclassified as a continuing operation for the reasons set forth in Note 36.
|
As of
|
As of
|
|||||||||||||||
December 31,
|
||||||||||||||||
Reclassified (a)
|
Adexus (b)
|
2019
|
||||||||||||||
ASSETS
|
Audited
|
As restated
|
||||||||||||||
Current assets
|
||||||||||||||||
Cash and cash equivalents
|
948,978
|
-
|
1,723
|
950,701
|
||||||||||||
Trade accounts receivables, net
|
821,737
|
-
|
92,467
|
914,204
|
||||||||||||
Work in progress, net
|
49,457
|
-
|
-
|
49,457
|
||||||||||||
Accounts receivable from related parties
|
36,658
|
-
|
-
|
36,658
|
||||||||||||
Other accounts receivable
|
444,500
|
-
|
9,974
|
454,474
|
||||||||||||
Inventories, net
|
552,573
|
-
|
2,828
|
555,401
|
||||||||||||
Prepaid expenses
|
11,348
|
-
|
5,130
|
16,478
|
||||||||||||
2,865,251
|
-
|
112,122
|
2,977,373
|
|||||||||||||
Non-current assets as held for sale
|
205,418
|
-
|
(203,020
|
)
|
2,398
|
|||||||||||
Total current assets
|
3,070,669
|
-
|
(90,898
|
)
|
2,979,771
|
|||||||||||
Non-current assets
|
||||||||||||||||
Trade accounts receivable, net
|
753,202
|
-
|
26,407
|
779,609
|
||||||||||||
Work in progress, net
|
23,117
|
-
|
-
|
23,117
|
||||||||||||
Accounts receivable from related parties
|
546,941
|
27,782
|
-
|
574,723
|
||||||||||||
Prepaid expenses
|
27,934
|
-
|
-
|
27,934
|
||||||||||||
Other accounts receivable
|
300,323
|
(27,782
|
)
|
891
|
273,432
|
|||||||||||
Investments in associates and joint ventures
|
37,035
|
-
|
-
|
37,035
|
||||||||||||
Investment property
|
28,326
|
-
|
-
|
28,326
|
||||||||||||
Property, plant and equipment, net
|
443,870
|
-
|
20,120
|
463,990
|
||||||||||||
Intangible assets, net
|
853,315
|
-
|
912
|
854,227
|
||||||||||||
Right-of-use assets, net
|
78,813
|
-
|
11,768
|
90,581
|
||||||||||||
Deferred income tax asset
|
240,919
|
-
|
30,800
|
271,719
|
||||||||||||
Total non-current assets
|
3,333,795
|
-
|
90,898
|
3,424,693
|
||||||||||||
Total assets
|
6,404,464
|
-
|
-
|
6,404,464
|
As of
|
As of
|
|||||||||||||||
December 31,
|
||||||||||||||||
Reclassified (a)
|
Adexus (b)
|
2019
|
||||||||||||||
Audited
|
As restated
|
|||||||||||||||
LIABILITIES AND EQUITY
|
||||||||||||||||
Current liabilities
|
||||||||||||||||
Borrowings
|
454,260
|
-
|
27,269
|
481,529
|
||||||||||||
Bonds
|
44,737
|
-
|
-
|
44,737
|
||||||||||||
Trade accounts payable
|
1,136,121
|
-
|
22,954
|
1,159,075
|
||||||||||||
Accounts payable to related parties
|
38,916
|
-
|
-
|
38,916
|
||||||||||||
Current income tax
|
47,999
|
-
|
3,170
|
51,169
|
||||||||||||
Other accounts payable
|
635,305
|
-
|
34,369
|
669,674
|
||||||||||||
Provisions
|
113,483
|
-
|
-
|
113,483
|
||||||||||||
Total current liabilities
|
2,470,821
|
-
|
87,762
|
2,558,583
|
||||||||||||
Non-current liabilities as held for sale
|
210,025
|
-
|
(210,025
|
)
|
-
|
|||||||||||
Total current liabilities
|
2,680,846
|
-
|
(122,263
|
)
|
2,558,583
|
|||||||||||
Non-current liabilities
|
||||||||||||||||
Borrowings
|
344,806
|
-
|
64,260
|
409,066
|
||||||||||||
Bonds
|
879,305
|
-
|
-
|
879,305
|
||||||||||||
Trade accounts payable
|
-
|
-
|
34,814
|
34,814
|
||||||||||||
Other accounts payable
|
273,101
|
-
|
23,189
|
296,290
|
||||||||||||
Accounts payable to related parties
|
22,583
|
-
|
-
|
22,583
|
||||||||||||
Provisions
|
214,952
|
-
|
-
|
214,952
|
||||||||||||
Derivative financial instruments
|
52
|
-
|
-
|
52
|
||||||||||||
Deferred income tax liability
|
112,734
|
-
|
-
|
112,734
|
||||||||||||
Total non-current liabilities
|
1,847,533
|
-
|
122,263
|
1,969,796
|
||||||||||||
Total liabilities
|
4,528,379
|
-
|
-
|
4,528,379
|
||||||||||||
Equity
|
||||||||||||||||
Capital
|
871,918
|
-
|
-
|
871,918
|
||||||||||||
Legal reserve
|
132,011
|
-
|
-
|
132,011
|
||||||||||||
Voluntary reserve
|
29,974
|
-
|
-
|
29,974
|
||||||||||||
Share Premium
|
1,132,179
|
-
|
-
|
1,132,179
|
||||||||||||
Other reserves
|
(177,506
|
)
|
-
|
-
|
(177,506
|
)
|
||||||||||
Retained earnings
|
(510,766
|
)
|
-
|
-
|
(510,766
|
)
|
||||||||||
Equity attributable to controlling interest in the Company
|
1,477,810
|
-
|
-
|
1,477,810
|
||||||||||||
Non-controlling interest
|
398,275
|
-
|
-
|
398,275
|
||||||||||||
Total equity
|
1,876,085
|
-
|
-
|
1,876,085
|
||||||||||||
Total liabilities and equity
|
6,404,464
|
-
|
-
|
6,404,464
|
For the year ended
|
||||||||||||
Reported
|
Adexus
|
As restated
|
||||||||||
Revenues from construction activities
|
2,411,880
|
-
|
2,411,880
|
|||||||||
Revenues from services provided
|
1,089,465
|
164,594
|
1,254,059
|
|||||||||
Revenue from real estate and sale of goods
|
583,659
|
88,263
|
671,922
|
|||||||||
4,085,004
|
252,857
|
4,337,861
|
||||||||||
Cost of construction activities
|
(2,351,563
|
)
|
-
|
(2,351,563
|
)
|
|||||||
Cost of services provided
|
(866,326
|
)
|
(168,925
|
)
|
(1,035,251
|
)
|
||||||
Cost of real estate and sale of goods
|
(425,352
|
)
|
(75,258
|
)
|
(500,610
|
)
|
||||||
(3,643,241
|
)
|
(244,183
|
)
|
(3,887,424
|
)
|
|||||||
Gross profit
|
441,763
|
8,674
|
450,437
|
|||||||||
Administrative expenses
|
(213,908
|
)
|
(34,744
|
)
|
(248,652
|
)
|
||||||
Other income and expenses
|
(326,754
|
)
|
(12,740
|
)
|
(339,494
|
)
|
||||||
Operating loss
|
(98,899
|
)
|
(38,810
|
)
|
(137,709
|
)
|
||||||
Financial expenses
|
(231,709
|
)
|
(21,425
|
)
|
(253,134
|
)
|
||||||
Financial income
|
74,656
|
(310
|
)
|
74,346
|
||||||||
Share of the profit or loss of associates and joint ventures accounted for using the equity method
|
(218,774
|
)
|
-
|
(218,774
|
)
|
|||||||
Loss before income tax
|
(474,726
|
)
|
(60,545
|
)
|
(535,271
|
)
|
||||||
Income tax expense
|
(319,957
|
)
|
16,586
|
(303,371
|
)
|
|||||||
Loss from continuing operations
|
(794,683
|
)
|
(43,959
|
)
|
(838,642
|
)
|
||||||
(Loss) profit from discontinued operations
|
(43,959
|
)
|
43,959
|
-
|
||||||||
Loss for the year
|
(838,642
|
)
|
-
|
(838,642
|
)
|
|||||||
(Loss) profit attributable to:
|
||||||||||||
Owners of the Company
|
(884,721
|
)
|
-
|
(884,721
|
)
|
|||||||
Non-controlling interest
|
46,079
|
-
|
46,079
|
|||||||||
(838,642
|
)
|
-
|
(838,642
|
)
|
•
|
Amendments to IAS 1 and IAS 8 - Definition of materiality.
|
The amendments provide a new definition of "materiality" as information the omission of which, through error or obstruction, would reasonably be expected to
influence the decision-making of the primary users of the financial statements. The amendments clarify that materiality will depend on the nature or extent of information, individually or aggregated with other information, in the context
of the financial statements.
|
|
•
|
Amendments to IFRS 3 - Definition of a Business
|
The amendments provide a new definition of business that requires an acquisition to include at least one input and one substantive process that together
contribute significantly to the ability to create products. The definition of the term "products" is modified to focus on goods and services provided to customers, generating investment and other income, and excludes returns in the form of
lower costs, savings and other economic benefits.
|
•
|
Amendments to IFRS 7, IFRS 9 and IAS 39 - Benchmark interest rate reform The amendments to IFRS 7 Financial Instruments: Disclosures, IFRS 9 Financial Instruments and IAS 39 Financial Instruments: Recognition
and Measurement provide certain exemptions in relation to benchmark interest rate reforms. The exemptions relate to hedge accounting and have the effect that the reforms should generally not cause the termination of hedge accounting.
However, any hedge ineffectiveness will continue to be recorded in the income statement.
|
•
|
Modifications to the Conceptual Framework for Financial Reporting
|
The revised conceptual framework includes some new concepts and definitions, as well as criteria for recognition of assets and liabilities, and clarifies some concepts. In particular, the IASB has issued a revised Conceptual Framework to be used for standard-setting decisions with immediate effect. Key changes include: |
|
(i) Increasing the importance of management in the objective of financial reporting. | |
(ii) Restoring prudence as a component of neutrality. | |
(iii) Defining a reporting entity, which may be a legal entity, or a part of an entity. | |
(iv) Revise the definitions of an asset and a liability. | |
(v) Eliminate the probability threshold for recognition and add guidance on derecognition. | |
|
(vi) Add guidance on different measurement bases; and |
(vii) establishing that profit or loss is the primary performance indicator and that, in principle, income and expenses in other comprehensive income should be recycled when this improves the relevance or faithful representation of the financial statements. | |
These amendments had no impact on the consolidated financial statements and are not expected to have future impacts on the Company. | |
•
|
Amendment to IFRS 16 "Leases" – Rent decrease related to Covid-19
|
This amendment was issued on May 28, 2020, is applicable for annual periods beginning on June 1, 2020 and provides an exemption in relation to the accounting treatment of lease modifications under IFRS 16 to lessees that obtain lease modifications in the context of Covid-19 (payment holidays and extension of lease payments). | |
The application of this amendment had no significant impact on the Company's consolidated financial statements as of December 31, 2020. |
•
|
Amendment to IAS 1: Classification of Liabilities as current or non-current.
|
The amendments to IAS 1 Presentation of Financial Statements clarify that liabilities are classified as current or non-current, depending on the rights that exist at the end of the reporting period. The classification is not affected by the entity's expectations or events after the reporting date (e.g., receipt of a waiver or breach of covenant). | |
The amendments also clarify what IAS 1 means when it refers to the 'settlement' of a liability. | |
The amendments could affect the classification of liabilities, particularly for entities that previously considered management's intentions in determining classification and for some liabilities that may be converted to equity. |
The amendments should be applied retrospectively in accordance with the normal requirements of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. | |
The amendments are effective for annual reporting periods beginning on or after January 1, 2023 and should be applied retrospectively. |
|
•
|
Amendment to IAS 16 - Property, Plant and Equipment: Property, Plant and Equipment: Property, Plant and Equipment: Product before use
|
This amendment prohibits entities from deducting from the cost of an item of Property, Plant and Equipment any income from the sale of items produced while bringing the asset to
the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity should recognize the proceeds from the sale of such items, and the production costs associated with those items,
in profit or loss. |
|
Likewise, the amendment clarifies that when IAS 16 indicates that an entity is "testing whether the asset is operating properly", it refers to the physical and technical
evaluation, the financial performance of the asset being not relevant. |
|
This modification is effective from January 1, 2022 and must be applied retrospectively. | |
•
|
Amendments to IFRS 3 - reference to the Conceptual Framework
|
Minor amendments were made to IFRS 3 Business Combinations to update the references to the Conceptual Framework for Financial Reporting and to add an exception for the recognition of liabilities and contingent liabilities within the scope of IAS 37 Provisions, Contingent Liabilities and Contingent Assets and IFRIC Interpretation 21 Liens. | |
The amendments also confirm that contingent assets should not be recognized at the acquisition date. | |
The amendment will be effective for annual reporting periods on or after January 1, 2022.
|
|
•
|
|
In May 2020, the International Accounting Standards Board issued amendments to IAS 37 to specify which cost an entity needs to include when assessing whether a contract is onerous or loss making. | |
The amendment to IAS 37 clarifies that direct contract performance costs include both incremental contract performance costs and an allocation of other costs directly related to the performance of contracts. Before recognizing a separate provision for an onerous contract, an entity recognizes any impairment loss that has occurred on assets used to fulfill the contract. | |
The amendment is effective for annual reporting periods beginning on or after January 1, 2022. | |
The Company will apply this modification to contracts for which it has not yet fulfilled all its obligations at the beginning of the annual reported period, in which
it is the first time the modifications are applied. |
|
•
|
Annual Improvements to IFRSs 2018-2020 Cycle
|
As part of its 2018-2020 annual improvements to the IFRS standard process in May 2020 the IASB issued the following amendments: |
|
(i) IFRS 9 Financial Instruments - clarifies which fees should be included in the 10% test for derecognition of financial liabilities. | |
(ii) IFRS 16 Leases - amended Illustrative Example 13 to remove the illustration of lessor payments related to leasehold improvements, to eliminate any misinterpretation on the
treatment of lease incentives. |
(iii) IFRS 1 First-time Adoption of International Financial Reporting Standards - permits entities that have measured their assets and liabilities at the carrying amounts recorded in the books of their parent to also measure any cumulative translation differences using the amounts reported by the parent. This amendment will also apply to associates and joint ventures that have taken the same IFRS 1 exception. | |
The amendments will be effective for annual reporting periods beginning on or after January 1, 2022 with early adoption permitted. | |
• |
Amendment to IFRS 10 and IAS 28 - Sale or Contribution of Assets between an Investor and its Associate or Joint Venture |
The IASB has made limited scope amendments to IFRS 10 "Consolidated Financial Statements" and IAS 28 "Investments in Associates and Joint Ventures". | |
The amendments clarify the accounting treatment of sales or contributions of assets between an investor and its associates or joint ventures. They also confirm that the accounting treatment will depend on whether the non-cash assets sold or contributed to an associate or joint venture constitute a "business" (as defined in IFRS 3 "Business Combinations"). | |
When the non-monetary assets constitute a business, the investor shall recognize the full gain or loss from the sale or contribution of the assets. If the assets do not meet the definition of a business, the gain or loss is recognized by the investor only to the extent of the investment of the other investors in the joint venture associate. These amendments will be applied prospectively. | |
In December 2015, the IASB decided to defer the date of application of this amendment until its research project on the equity method has been completed. | |
The amendments will be effective for annual reporting periods beginning on or after January 1, 2023 and should be applied retrospectively to items of property, plant and equipment made available for use on or after the beginning of the earliest period presented when the entity first applied the amendment. |
2019
|
2020
|
|||||||
S/(000)
|
USD(000)
|
S/(000)
|
USD(000)
|
|||||
Assets
|
2,868,128
|
864,675
|
2,125,400
|
586,479
|
||||
Liabilities
|
1,754,630
|
528,981
|
1,165,475
|
321,599
|
2019
|
2020
|
|||||||||||||||
Assets
|
Liabilities
|
Assets
|
Liabilities
|
|||||||||||||
Chilean Pesos
|
53,383,866
|
65,260,543
|
40,869,086
|
74,151,415
|
||||||||||||
Colombian Pesos
|
187,119,204
|
76,446,723
|
113,350,078
|
54,581,654
|
Less than
|
1-2
|
2-5
|
More than
|
|||||||||||||||||
1 year
|
years
|
years
|
5 years
|
Total
|
||||||||||||||||
Other financial liabilities (except
|
||||||||||||||||||||
for finance leases and lease
|
||||||||||||||||||||
liability for right-of-use asset)
|
501,864
|
147,473
|
235,222
|
-
|
884,559
|
|||||||||||||||
Finance leases
|
11,438
|
3,531
|
13,346
|
-
|
28,315
|
|||||||||||||||
Lease liability for right-of-use asset
|
31,036
|
40,808
|
32,562
|
11,551
|
115,957
|
|||||||||||||||
Bonds
|
115,690
|
157,516
|
358,461
|
1,077,960
|
1,709,627
|
|||||||||||||||
Trade accounts payables (except
|
||||||||||||||||||||
non-financial liabilities)
|
989,574
|
-
|
34,814
|
-
|
1,024,388
|
|||||||||||||||
Accounts payables to related parties
|
38,916
|
21,747
|
-
|
836
|
61,499
|
|||||||||||||||
Other accounts payables (except
|
||||||||||||||||||||
non-financial liabilities)
|
220,602
|
2,505
|
219,788
|
-
|
442,895
|
|||||||||||||||
Other non-financial liabilities
|
-
|
52
|
-
|
-
|
52
|
|||||||||||||||
1,909,120
|
373,632
|
894,193
|
1,090,347
|
4,267,292
|
Less than
|
1-2
|
2-5
|
More than
|
|||||||||||||||||
1 year
|
years
|
years
|
5 years
|
Total
|
||||||||||||||||
Other financial liabilities (except
|
||||||||||||||||||||
for finance leases and lease
|
||||||||||||||||||||
liability for right-of-use asset)
|
433,318
|
183,796
|
197,785
|
23,953
|
838,852
|
|||||||||||||||
Finance leases
|
16,287
|
14,919
|
20,851
|
8,515
|
60,572
|
|||||||||||||||
Lease liability for right-of-use asset
|
24,714
|
32,006
|
19,847
|
11,131
|
87,698
|
|||||||||||||||
Bonds
|
137,090
|
168,673
|
385,919
|
971,543
|
1,663,225
|
|||||||||||||||
Trade accounts payables (except
|
||||||||||||||||||||
non-financial liabilities)
|
1,001,470
|
40,502
|
-
|
-
|
1,041,972
|
|||||||||||||||
Accounts payables to related parties
|
43,818
|
35,461
|
-
|
836
|
80,115
|
|||||||||||||||
Other accounts payables (except
|
||||||||||||||||||||
non-financial liabilities)
|
288,037
|
2,185
|
115,321
|
-
|
405,543
|
|||||||||||||||
1,944,734
|
477,542
|
739,723
|
1,015,978
|
4,177,977
|
2019
|
2020
|
|||||||
Total financial liabilities and bonds (Note 18 and Note 19)
|
1,814,637
|
1,831,079
|
||||||
Less: Cash and cash equivalents (Note 9)
|
(950,701
|
)
|
(900,168
|
)
|
||||
Net debt
|
863,936
|
930,911
|
||||||
Total equity
|
1,876,085
|
1,689,176
|
||||||
Total capital
|
2,740,021
|
2,620,087
|
||||||
Gearing ratio
|
0.32
|
0.36
|
-
|
Level 1:
|
Measurement based on quoted prices in active markets for identical assets or liabilities.
|
-
|
Level 2:
|
Measurement based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (that is, as prices)
or indirectly (that is, derived from prices).
|
-
|
Level 3:
|
Measurement based on inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs, generally based on internal
estimates and assumptions of the Corporation).
|
Level 2
|
Level 3
|
|||
Financial liabilities
|
|
|||
Derivatives used for hedging (a)
|
52
|
- | ||
Financial liabilities
|
|
|||
Other financial entities (Note 18-d)
|
-
|
152,523 |
5
|
CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS
|
Difference between recoverable amount and carrying amounts | ||||||||||||||||
2019 |
2020 |
|||||||||||||||
Goodwill | ||||||||||||||||
Gross margin
|
(10
|
%)
|
+10
|
%
|
(10
|
%)
|
+10
|
% |
||||||||
Engineering and construction
|
(25.54
|
%)
|
(4.25
|
%)
|
(8.30
|
%)
|
37.10
|
%
|
||||||||
Electromechanical
|
35.63
|
%
|
52.97
|
%
|
41.81
|
%
|
55.60
|
%
|
||||||||
Discount rate:
|
(10
|
%)
|
+10
|
%
|
(10
|
%)
|
+10
|
%
|
||||||||
Engineering and construction
|
(4.30
|
%)
|
(23.09
|
%)
|
32.68
|
%
|
0.53
|
%
|
||||||||
Electromechanical
|
48.89
|
%
|
39.92
|
%
|
52.32
|
%
|
45.23
|
%
|
||||||||
Terminal growth rate:
|
(10
|
%)
|
+10
|
%
|
(10
|
%)
|
+10
|
%
|
||||||||
Engineering and construction
|
(16.31
|
%)
|
(13.38
|
%)
|
11.58
|
%
|
17.44
|
%
|
||||||||
Electromechanical
|
42.36
|
%
|
46.32
|
%
|
46.83
|
%
|
50.65
|
%
|
Trademarks
|
||||||||||||||||
Revenue growth rate:
|
(10
|
%)
|
+10
|
%
|
(10
|
%)
|
+10
|
%
|
||||||||
Morelco
|
22.14
|
%
|
60.11
|
%
|
59.65
|
%
|
123.51
|
%
|
||||||||
Vial y Vives - DSD
|
110.69
|
%
|
72.38
|
%
|
(1.04
|
%)
|
2.79
|
%
|
||||||||
Discount rate:
|
(10
|
%)
|
+10
|
%
|
(10
|
%)
|
+10
|
%
|
||||||||
Morelco
|
63.02
|
%
|
23.56
|
%
|
124.29
|
%
|
66.82
|
%
|
||||||||
Vial y Vives - DSD
|
78.72
|
%
|
106.64
|
%
|
(6.56
|
%)
|
9.95
|
%
|
||||||||
Terminal growth rate:
|
(10
|
%)
|
+10
|
%
|
(10
|
%)
|
+10
|
%
|
||||||||
Morelco
|
37.49
|
%
|
44.02
|
%
|
86.47
|
%
|
97.09
|
%
|
||||||||
Vial y Vives - DSD
|
88.07
|
%
|
95.20
|
%
|
(9.14
|
%)
|
11.05
|
%
|
•
|
Projection horizon of the concession of its lots, (Block I until 2021, Block V until 2023, Block III until 2045, Block IV until 2045 and gas plant until 2046).
|
•
|
Future prices projected based on information available in the market at the date of the consolidated statement of financial position, based on a "Crude Oil Brent" price forecast and published by the
Energy Information Administration (EIA) starting at US$/bbl57.50, reaching US$/bbl100.25 in the long term for crude oil. Likewise, the prices for the Company have been considered a reference price starting at US$/bbl57.50 up to
US$/bbl98.68 in the long term.
|
•
|
Future costs projected by Management based on the estimated evolution of the business, considering the investment plan reported to Perupetro S.A.
|
•
|
Actual discount rate for the four Lots is 11.09% and for the Plant 10.17%, which is the weighted average cost of capital (WACC) rate, determined in accordance with the Company's policies, before taxes.
|
-
|
Changes in projected future prices based on information available in the market at a date close to the date of approval of the consolidated financial statements by the Board of Directors. This assumption
has considered a decrease in quoted oil and gas prices at December 31, 2019 by 10%.
|
2019
|
2020
|
|||||||
Revenues
|
2,411,880
|
1,815,671
|
||||||
Gross profit
|
60,317
|
99,362
|
||||||
%
|
2.50
|
5.47
|
||||||
Plus 10%
|
2.75
|
6.02
|
||||||
Increase in profit before income tax
|
6,010
|
9,941
|
||||||
66,327
|
109,303
|
|||||||
Less 10%
|
2.25
|
4.92
|
||||||
Decrease in profit before income tax
|
(6,010
|
)
|
(9,941
|
)
|
||||
54,307
|
89,421
|
Name |
Country |
Economic activity |
||||||||
Engineering and Construction:
|
||||||||||
GyM S.A.
|
Peru,
and Colombia
|
Civil construction, electro-mechanic assembly, buildings management and implementing housing development projects and other related services.
|
||||||||
GyM Chile S.p.A.
|
Chile
|
Investment funds, investment companies and similar financial entities.
|
||||||||
Vial y Vives - DSD S.A.
|
Chile
|
Construction engineering projects, civil construction and related technical consultancy, rental of agricultural machinery and equipment,
forestry, construction and civil engineering without operator.
|
Name |
Country |
Economic activity |
||||||||
GMI S.A.
|
Peru, Mexico,
and Bolivia
|
Advisory and consultancy services in engineering, carrying out studies and projects, managing projects and supervision of works. |
||||||||
Morelco S.A.S.
|
Colombia and Ecuador
|
out studies and projects, managing projects and supervision of works.
Providing construction and assembly services, supply of equipment and materials, operation and maintenance and engineering services in the specialties of mechanics, instrumentation and civil works.
|
||||||||
Infrastructure:
|
|
|||||||||
GMP S.A.
|
Peru
|
Oil and oil by-products extraction, operation and exploration services, as well as providing storage and fuel dispatch services.
|
||||||||
Oiltanking Andina Services S.A.
|
Peru
|
Operation of the gas processing plant of Pisco - Camisea.
|
||||||||
Transportadora de Gas Natural Comprimido Andino S.A.C.
|
Peru
|
Supply, process and market natural gas and its derivative products.
|
||||||||
Concar S.A.C.
|
Peru
|
Highway and roads concessions operation and maintenance.
|
||||||||
GyM Ferrovias S.A.
|
Peru
|
Concession for the operation of the public transportation system of Lima Metro (Metro de Lima Metropolitana).
|
||||||||
Survial S.A.
|
Peru
|
Concession for constructing, operating and maintaining Section 1 of the “Southern Inter-oceanic” highway.
|
||||||||
Norvial S.A.
|
Peru
|
Concession for restoring, operating and maintaining the “Ancon - Huacho - Pativilca” section of the Panamericana Norte road.
|
||||||||
Concesion Canchaque S.A.C.
|
Peru
|
Concession for operating and maintaining of the Buenos Aires – Canchaque provincial road highway.
|
||||||||
Concesionaria Via Expresa Sur S.A.
|
Peru
|
Concession for designing, constructing, operating and maintaining the Via Expresa - Paseo de la Republica in Lima.
|
||||||||
Real estate:
|
||||||||||
VIVA GyM S.A.
|
Peru
|
Developing and managing real estate projects directly or together with other partners.
|
||||||||
Parent company operation:
|
||||||||||
Adexus S.A.
|
Chile, Peru,
Colombia and
Ecuador
|
IT solutions services.
|
||||||||
CAM Holding S.p.A.
|
Chile
|
Investment company.
|
||||||||
Qualys S.A.
|
Peru
|
Human, economic and technological services to the B4s companies.
|
||||||||
Promotores Asociados de Inmobiliarias S.A.
|
Peru
|
Operating in the real-estate industry and engaged in the development and sale of office premises in Peru.
|
||||||||
Negocios del Gas S.A.
|
Peru
|
Investment company for construction, operation, and maintenance of the pipeline system to transport natural gas and liquids.
|
||||||||
Inversiones en Autopistas S.A.
|
Peru
|
Holding company of shares, participation or any other credit instrument or investment document.
|
||||||||
Agenera S.A.C.
|
Peru |
Activities related to the generation, cogeneration, transmission, import, export and distribution of electrical energy.
|
Percentage of common shares directly held by Parent (%)
|
Percentage of common shares held by Subsidiaries (%)
|
Percentage of common shares held by the Group (%)
|
Percentage of common shares held by non-controlling interests (%)
|
|||||||||||||
Engineering and Construction:
|
||||||||||||||||
GyM S.A.
|
98.90
|
%
|
-
|
98.90
|
%
|
1.10
|
%
|
|||||||||
- Morelco S.A.S.
|
-
|
70.00
|
%
|
70.00
|
%
|
30.00
|
%
|
|||||||||
- GyM Chile S.p.A.
|
-
|
100.00
|
%
|
100.00
|
%
|
-
|
||||||||||
- Vial y Vives – DSD S.A.
|
-
|
94.49
|
%
|
94.49
|
%
|
5.51
|
%
|
|||||||||
GMI S.A.
|
89.41
|
%
|
-
|
89.41
|
%
|
10.59
|
%
|
|||||||||
- Ecología Tecnología Ambiental S.A.C.
|
-
|
100.00
|
%
|
100.00
|
%
|
-
|
||||||||||
- GM Ingenieria y Construcción de CV
|
-
|
100.00
|
%
|
100.00
|
%
|
0.00
|
%
|
|||||||||
- GM Ingenieria Bolivia S.R.L.
|
-
|
98.57
|
%
|
98.57
|
%
|
1.43
|
%
|
|||||||||
Infrastructure:
|
||||||||||||||||
GMP S.A.
|
95.00
|
%
|
-
|
95.00
|
%
|
5.00
|
%
|
|||||||||
- Oiltanking Andina Services S.A.
|
-
|
50.00
|
%
|
50.00
|
%
|
50.00
|
%
|
|||||||||
- Transportadora de Gas Natural
|
||||||||||||||||
Comprimido Andino S.A.C.
|
-
|
99.93
|
%
|
99.93
|
%
|
0.07
|
%
|
|||||||||
Concar S.A.C.
|
100.00
|
%
|
-
|
100.00
|
%
|
-
|
||||||||||
GyM Ferrovias S.A.
|
75.00
|
%
|
-
|
75.00
|
%
|
25.00
|
%
|
|||||||||
Survial S.A.
|
100.00
|
%
|
-
|
100.00
|
%
|
-
|
||||||||||
Norvial S.A.
|
18.20
|
%
|
48.80
|
%
|
67.00
|
%
|
33.00
|
%
|
||||||||
Concesión Canchaque S.A.
|
99.96
|
%
|
0.04
|
%
|
100.00
|
%
|
-
|
|||||||||
Concesionaria Vía Expresa Sur S.A.
|
99.98
|
%
|
0.02
|
%
|
100.00
|
%
|
-
|
|||||||||
Real Estate:
|
||||||||||||||||
Viva GyM S.A.
|
56.22
|
%
|
43.32
|
%
|
99.54
|
%
|
0.46
|
%
|
||||||||
Parent company operations:
|
||||||||||||||||
Qualys S.A.
|
100.00
|
%
|
-
|
100.00
|
%
|
-
|
||||||||||
Promotora Larcomar S.A.
|
46.55
|
%
|
-
|
46.55
|
%
|
53.45
|
%
|
|||||||||
Negocios del Gas S.A.
|
99.99
|
%
|
0.01
|
%
|
100.00
|
%
|
-
|
|||||||||
Agenera S.A.
|
99.00
|
%
|
1.00
|
%
|
100.00
|
%
|
-
|
|||||||||
Inversiones en Autopistas S.A.
|
1.00
|
%
|
99.00
|
%
|
100.00
|
%
|
-
|
|||||||||
Cam Holding S.p.A.
|
100.00
|
%
|
-
|
100.00
|
%
|
-
|
||||||||||
Adexus S.A.
|
100.00
|
%
|
-
|
100.00
|
%
|
-
|
||||||||||
Percentage of common shares directly held by Parent (%)
|
Percentage of common shares held by Subsidiaries (%)
|
Percentage of common shares held by the Group (%)
|
Percentage of common shares held by non-controlling interests (%)
|
|||||||||||||
Engineering and Construction:
|
||||||||||||||||
GyM S.A.
|
98.87
|
%
|
-
|
98.87
|
%
|
1.13
|
%
|
|||||||||
- Morelco S.A.S.
|
-
|
70.00
|
%
|
70.00
|
%
|
30.00
|
%
|
|||||||||
- GyM Chile S.p.A.
|
-
|
100.00
|
%
|
100.00
|
%
|
-
|
||||||||||
- Vial y Vives – DSD S.A.
|
-
|
94.49
|
%
|
94.49
|
%
|
5.51
|
%
|
|||||||||
GMI S.A.
|
89.41
|
%
|
-
|
89.41
|
%
|
10.59
|
%
|
|||||||||
- Ecología Tecnología Ambiental S.A.C.
|
-
|
100.00
|
%
|
100.00
|
%
|
-
|
||||||||||
- GM Ingenieria y Construcción de CV
|
-
|
99.00
|
%
|
99.00
|
%
|
1.00
|
%
|
|||||||||
- GM Ingenieria Bolivia S.R.L.
|
-
|
98.57
|
%
|
98.57
|
%
|
1.43
|
%
|
|||||||||
Infrastructure:
|
||||||||||||||||
GMP S.A.
|
95.00
|
%
|
-
|
95.00
|
%
|
5.00
|
%
|
|||||||||
- Oiltanking Andina Services S.A.
|
-
|
50.00
|
%
|
50.00
|
%
|
50.00
|
%
|
|||||||||
- Transportadora de Gas Natural
|
||||||||||||||||
Comprimido Andino S.A.C.
|
-
|
99.93
|
%
|
99.93
|
%
|
0.07
|
%
|
|||||||||
Concar S.A.C.
|
100.00
|
%
|
-
|
100.00
|
%
|
-
|
||||||||||
GyM Ferrovias S.A.
|
75.00
|
%
|
-
|
75.00
|
%
|
25.00
|
%
|
|||||||||
Survial S.A.
|
100.00
|
%
|
-
|
100.00
|
%
|
-
|
||||||||||
Norvial S.A.
|
18.20
|
%
|
48.80
|
%
|
67.00
|
%
|
33.00
|
%
|
||||||||
Concesión Canchaque S.A.
|
99.96
|
%
|
0.04
|
%
|
100.00
|
%
|
-
|
|||||||||
Concesionaria Vía Expresa Sur S.A.
|
99.98
|
%
|
0.02
|
%
|
100.00
|
%
|
-
|
|||||||||
Real Estate:
|
||||||||||||||||
Viva GyM S.A.
|
56.22
|
%
|
43.32
|
%
|
99.54
|
%
|
0.46
|
%
|
||||||||
Parent company operations:
|
||||||||||||||||
Qualys S.A.
|
100.00
|
%
|
-
|
100.00
|
%
|
-
|
||||||||||
Promotora Larcomar S.A.
|
46.55
|
%
|
-
|
46.55
|
%
|
53.45
|
%
|
|||||||||
Negocios del Gas S.A.
|
99.99
|
%
|
0.01
|
%
|
100.00
|
%
|
-
|
|||||||||
Agenera S.A.
|
99.00
|
%
|
1.00
|
%
|
100.00
|
%
|
-
|
|||||||||
Inversiones en Autopistas S.A.
|
1.00
|
%
|
99.00
|
%
|
100.00
|
%
|
-
|
|||||||||
Cam Holding S.p.A.
|
100.00
|
%
|
-
|
100.00
|
%
|
-
|
||||||||||
Adexus S.A.
|
100.00
|
%
|
-
|
100.00
|
%
|
-
|
2019
|
2020
|
|||||||
Viva GyM S.A. and subsidiaries
|
168,839
|
132,238
|
||||||
GyM S.A. and subsidiaries
|
61,569
|
51,798
|
||||||
Norvial S.A.
|
63,031
|
57,941
|
||||||
GMP S.A.
|
24,413
|
24,162
|
||||||
GyM Ferrovias S.A.
|
77,564
|
59,231
|
||||||
Promotora Larcomar S.A.
|
3,058
|
3,022
|
||||||
Other
|
(199
|
)
|
(358
|
)
|
||||
398,275
|
328,034
|
Viva GyM S.A.
and subsidiaries
|
GyM S.A.
and subsidiaries
|
Norvial S.A.
|
GyM Ferrovías S.A.
|
|||||||||||||||||||||||||||||
At December 31,
|
At December 31,
|
At December 31,
|
At December 31,
|
|||||||||||||||||||||||||||||
2020
|
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
||||||||||||||||||||||||||
Current:
|
||||||||||||||||||||||||||||||||
Assets
|
591,402
|
541,703
|
1,232,486
|
1,310,053
|
84,889
|
72,462
|
449,180
|
367,610
|
||||||||||||||||||||||||
Liabilities
|
(263,592
|
)
|
(249,816
|
)
|
(1,491,747
|
)
|
(1,696,190
|
)
|
(53,715
|
)
|
(45,185
|
)
|
(93,879
|
)
|
(85,616
|
)
|
||||||||||||||||
Current net assets (liabilities)
|
327,810
|
291,887
|
(259,261
|
)
|
(386,137
|
)
|
31,174
|
27,277
|
355,301
|
281,994
|
||||||||||||||||||||||
Non-current:
|
||||||||||||||||||||||||||||||||
Assets
|
121,529
|
120,223
|
1,100,218
|
1,092,120
|
442,186
|
403,280
|
623,033
|
635,836
|
||||||||||||||||||||||||
Liabilities
|
(37,851
|
)
|
(34,378
|
)
|
(486,924
|
)
|
(399,948
|
)
|
(282,358
|
)
|
(254,979
|
) |
(668,080
|
)
|
(680,905
|
)
|
||||||||||||||||
Non-current net assets (liabilities)
|
83,678
|
85,845
|
613,294
|
692,172
|
159,828
|
148,301
|
(45,047
|
)
|
(45,069
|
)
|
||||||||||||||||||||||
Net assets
|
411,488
|
377,732
|
354,033
|
306,035
|
191,002
|
175,578
|
310,254
|
236,925
|
Viva GyM S.A.
and subsidiaries
|
GyM S.A.
and subsidiaries
|
Norvial S.A.
|
GyM Ferrovías S.A.
|
|||||||||||||||||||||||||||||
For the year ended
|
For the year ended
|
For the year ended
|
For the year ended
|
|||||||||||||||||||||||||||||
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||||||||
Revenue
|
264,401
|
182,439
|
2,279,786
|
1,816,358
|
272,679
|
134,149
|
397,853
|
345,258
|
||||||||||||||||||||||||
Profit (loss) before income tax
|
30,729
|
17,816
|
(116,081
|
)
|
(46,199
|
)
|
24,067
|
(2,029
|
)
|
121,079
|
87,522
|
|||||||||||||||||||||
Income tax
|
(7,000
|
)
|
(2,854
|
)
|
(30,843
|
)
|
(1,753
|
)
|
(6,815
|
)
|
1,405
|
(39,634
|
)
|
(26,681
|
)
|
|||||||||||||||||
Profit (loss) for the year
|
23,729
|
14,962
|
(146,924
|
)
|
(47,952
|
)
|
17,252
|
(624
|
)
|
81,445
|
60,841
|
|||||||||||||||||||||
Other comprehensive income
|
-
|
-
|
(7,436
|
)
|
7,368
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||
Total comprehensive income for the year
|
23,729
|
14,962
|
(154,360
|
)
|
(40,584
|
)
|
17,252
|
(624
|
)
|
81,445
|
60,841
|
|||||||||||||||||||||
|
Viva GyM S.A.
|
GyM S.A.
|
|||||||||||||||||||||||||||||||
and subsidiaries
|
and subsidiaries
|
Norvial S.A.
|
GyM Ferrovías S.A.
|
|||||||||||||||||||||||||||||
For the year ended
|
For the year ended
|
For the year ended
|
For the year ended
|
|||||||||||||||||||||||||||||
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||||||||
Net cash provided from
|
||||||||||||||||||||||||||||||||
operating activities
|
28,791
|
84,770
|
(25,503
|
)
|
(8,737
|
) |
12,514
|
36,942
|
379,882
|
52,055
|
||||||||||||||||||||||
Net cash (applied to) provided from
|
||||||||||||||||||||||||||||||||
investing activities
|
(2,613
|
)
|
(473
|
)
|
(20,173
|
)
|
(8,835
|
)
|
(33
|
)
|
(12
|
)
|
2,845
|
812
|
||||||||||||||||||
Net cash (applied to) provided from
|
||||||||||||||||||||||||||||||||
financing activities
|
(58,722
|
)
|
(71,484
|
)
|
209,515
|
26,550
|
(46,045
|
)
|
(39,667
|
)
|
(273,009
|
)
|
(145,788
|
)
|
||||||||||||||||||
(Decrease) increase in cash
|
||||||||||||||||||||||||||||||||
and cash equivalents, net
|
(32,544
|
)
|
12,813
|
163,839
|
8,978
|
(33,564
|
)
|
(2,737
|
)
|
109,718
|
(92,921
|
)
|
||||||||||||||||||||
Cash and cash equivalents
|
||||||||||||||||||||||||||||||||
at the beginning of the year
|
93,262
|
60,718
|
172,628
|
346,603
|
99,850
|
66,286
|
191,178
|
300,896
|
||||||||||||||||||||||||
Cash and cash equivalents
|
||||||||||||||||||||||||||||||||
at the end of the year
|
60,718
|
73,531
|
336,467
|
355,581
|
66,286
|
63,549
|
300,896
|
207,975
|
Name of |
Estimated |
Ordinary |
Concession |
Accounting | ||||||||||||||
Concession |
Description | investment |
Consideration |
shares held |
termination |
model | ||||||||||||
Survial S.A.
|
This company operates and maintains a 750 km road from the San Juan de Marcona port to Urcos, Peru, which is connected to an interoceanic road.
The road has five toll stations and three weigh stations.
|
US$99 million
|
Transaction secured by the Peruvian Government involving from annual payments for the
maintenance and operation of the road, which is in charge of the Peruvian Ministry of Transport and Communications (MTC).
|
|
99.90
|
%
|
2032
|
Financial asset
|
||||||||||
Canchaque S.A.C.
|
This company operates and periodically maintains a 78 km road which connects the towns of Buenos Aires and Canchaque, in Peru.
The road has one toll station.
|
US$31 million
|
Transaction secured by the Peruvian Government regardless the traffic volume.
Revenue is secured by an annual minimum amount of US$0.3 million.
|
99.96
|
%
|
2025
|
Financial asset
|
|||||||||||
Concesionaria. La Chira S.A.
|
Designing, financing, constructing, operating and maintaining project called “Planta de Tratamiento de Aguas
Residuales y Emisario Submarino La Chira”. The Project will treat approximately 25%
of wastewaters in Lima.
|
S/250 million
|
Transaction secured by the Peruvian Government consisting of monthly and
quarterly payments settled by B4s collection trust.
|
50.00
|
%
|
2036
|
Financial asset
|
|||||||||||
GyM Ferrovias S.A.
|
Concession for the operation of Line 1 of Lima Metro, Peru’s only urban railway system in Lima city, which includes (i) operation and maintenance
of the existing trains (24 initial investment trains and 20 additional trains), (ii) operation and maintenance of the railway system (railway and infrastructure).
|
S/642 million
|
Transaction secured by the Peruvian Government involving a quarterly payment received from
MTC based on km travelled per train.
|
75.00
|
%
|
2041
|
Financial asset
|
Name of |
Estimated |
Ordinary |
Concession |
Accounting | ||||||||||||||
Concession |
Description | investment |
Consideration |
shares held |
termination |
model | ||||||||||||
Norvial S.A.
|
The Company operates and maintains the highway that connects
Lima to the northwest of Peru. This 183 km road known as Red Vial 5 runs from the cities of Ancon to Pativilca and has three toll stations. |
US$187 million
|
Collected from users (self-financed concession; revenue is derived from collection of tolls). |
|
67.00
|
%
|
2028
|
Intangible
|
||||||||||
Via Expresa Sur S.A.asset
|
The contract gives the right for designing, financing, building, operating and maintaining the infrastructure associated with the Via Expresa Sur Project. This project involves the second stage expansion of the Via Expresa - Paseo de la Republica,between Av. Republica de Panama and and Panamericana highway. |
US$197 million
|
The contract gives the right of collection from users; however the Peruvian Government shall pay the difference when the operating revenue obtained is below US$18 million during the first two years and US$19.7
million from the third year to the fifteenth year of the effective
period of the financing, with a ceiling of US$10 million. In June 2017, the contract was suspended temporarily and has been extended until June 2021. To date, the term
of the Concession remains suspended by agreement between the parties pending agreement on the terms and conditions to approve the Early Termination of the Concession Contract by Mutual Agreement as provided in Clause 16.3 of the
aforementioned Contract.
|
99.98
|
%
|
2053
|
Financial
|
Percentage of interest
|
||||||||
Joint operations
|
2019
|
2020
|
||||||
AENZA S.A.A.
|
||||||||
- Concesionaria La Chira S.A.
|
50
|
%
|
50
|
%
|
||||
GyM S.A.
|
||||||||
- Consorcio CDEM
|
85
|
%
|
-
|
|||||
- Consorcio Huacho Pativilca
|
67
|
%
|
67
|
%
|
||||
- Consorcio GyM – CONCIVILES
|
67
|
%
|
67
|
%
|
||||
- Consorcio Chicama - Ascope
|
50
|
%
|
-
|
|||||
- Consorcio Constructor Alto Cayma
|
50
|
%
|
50
|
%
|
||||
- Consorcio Energía y Vapor
|
50
|
%
|
-
|
|||||
- Consorcio Ermitaño
|
50
|
%
|
50
|
%
|
||||
- Consorcio GyM Sade Skanska
|
50
|
%
|
-
|
|||||
- Consorcio GYM-OSSA
|
50
|
%
|
100
|
%
|
||||
- Consorcio GyM-Stracon
|
50
|
%
|
50
|
%
|
||||
- Consorcio HV GyM
|
50
|
%
|
50
|
%
|
||||
- Consorcio La Chira
|
50
|
%
|
50
|
%
|
||||
- Consorcio Lima Actividades Comerciales Sur
|
50
|
%
|
50
|
%
|
||||
- Consorcio Lima Actividades Sur
|
50
|
%
|
50
|
%
|
||||
- Consorcio Menegua
|
50
|
%
|
-
|
|||||
- Consorcio Rio Mantaro
|
50
|
%
|
-
|
|||||
- Consorcio Río Urubamba
|
50
|
%
|
50
|
%
|
||||
- Consorcio TNT Vial y Vives - DSD Chile LTDA
|
50
|
%
|
-
|
|||||
- Constructora Incolur DSD Limitada
|
50
|
%
|
-
|
|||||
- Consorcio Alto Cayma
|
49
|
%
|
49
|
%
|
||||
- Consorcio La Gloria
|
49
|
%
|
49
|
%
|
||||
- Consorcio Norte Pachacutec
|
49
|
%
|
49
|
%
|
||||
- Consorcio Italo Peruano
|
48
|
%
|
48
|
%
|
||||
- Consorcio Vial Quinua
|
46
|
%
|
46
|
%
|
||||
- Consorcio Constructor Ductos del Sur
|
29
|
%
|
29
|
%
|
||||
- Consorcio Constructor Chavimochic
|
27
|
%
|
27
|
%
|
||||
- Consorcio Inti Punku
|
-
|
49
|
%
|
|||||
- Consorcio Pasco
|
1
|
%
|
1
|
%
|
||||
GMP S.A.
|
||||||||
- Consorcio Terminales
|
50
|
%
|
50
|
%
|
||||
- Terminales del Perú
|
50
|
%
|
50
|
%
|
Percentage of interest
|
||||||||
Joint operations
|
2019
|
2020
|
||||||
Concar S.A.C.
|
||||||||
- Consorcio Ancón-Pativilca
|
67
|
%
|
67
|
%
|
||||
- Consorcio Peruano de Conservación
|
50
|
%
|
50
|
%
|
||||
- Consorcio Manperán
|
67
|
%
|
67
|
%
|
||||
- Consorcio Vial Sierra
|
50
|
%
|
50
|
%
|
||||
- Consorcio Vial Ayahuaylas
|
99
|
%
|
99
|
%
|
||||
- Consorcio Vial ICAPAL
|
10
|
%
|
10
|
%
|
||||
- Consorcio Vial Sullana
|
99
|
%
|
99
|
%
|
||||
- Consorcio Vial del Sur
|
99
|
%
|
99
|
%
|
||||
- Consorcio Obras Viales
|
99
|
%
|
99
|
%
|
||||
GMI S.A.
|
||||||||
- Consorcio Vial la Concordia
|
88
|
%
|
88
|
%
|
||||
- Consorcio GMI- Haskoningdhv
|
70
|
%
|
70
|
%
|
||||
- Consorcio Supervisor Ilo
|
55
|
%
|
55
|
%
|
||||
- Consorcio Poyry-GMI
|
40
|
%
|
40
|
%
|
||||
- Consorcio Internacional Supervisión Valle Sagrado
|
33
|
%
|
33
|
%
|
||||
- Consorcio Ecotec - GMI - PIM
|
30
|
%
|
30
|
%
|
||||
- Consorcio Ribereño Chinchaycamac
|
40
|
%
|
40
|
%
|
||||
- Consorcio Supervisor GRH
|
-
|
64
|
%
|
|||||
- Consorcio Ecotec - GMI
|
-
|
20
|
%
|
Joint Operations in
|
Economic activity
|
|
AENZA S.A.A (formerly Graña y Montero S.A.A.)
|
Construction, operation and maintenance of La Chira wastewater treatment plant in the south of Lima. The project is aimed to solve Lima’s
environmental problems caused by sewage discharged directly into the sea.
|
|
GyM S.A. |
These joint operations were created exclusively to development of construction contracts.
|
|
GMP S.A. |
Consorcio Terminales and Terminales del Peru provide services for receiving, storing, shipping and transporting liquid hydrocarbons, such as gasoline, jet fuel, diesel fuel and residual among others.
|
|
CONCAR S.A.C.
|
Concar’s joint operations provides rehabilitation service, routine and periodic maintenance of the road; and road conservation and preservation services.
|
|
GMI S.A. |
Engineering consulting services in, study and project execution, project management and Works supervision.
|
|
|
||||||||
2019
|
2020
|
|||||||
Net loss
|
(838,643
|
)
|
(96,464
|
)
|
||||
Financial income and expenses
|
178,787
|
119,712
|
||||||
Income tax
|
303,372
|
57,989
|
||||||
Depreciation and amortization
|
219,817
|
199,720
|
||||||
Initial EBITDA
|
(136,667
|
)
|
280,957
|
|||||
Extraordinary adjustments to EBITDA
|
||||||||
Impairment of investments
|
261,924
|
-
|
||||||
Impairment of accounts receivables
|
332,862
|
58,514
|
||||||
Impairment of goodwill
|
33,089
|
-
|
||||||
Provisions: civil compensation and legal claims
|
127,147
|
37,109
|
||||||
Provisions for labor claims
|
-
|
7,434
|
||||||
Impairment recovery
|
(40,094
|
)
|
-
|
|||||
Adjusted EBITDA
|
578,261
|
384,014
|
||||||
The EBITDA for each segment is as follows:
|
||||||||
2019
|
2020
|
|||||||
Engineering and construction
|
51,147
|
55,766
|
||||||
Infrastructure
|
403,554
|
288,659
|
||||||
Real estate
|
56,821
|
32,555
|
||||||
Parent company operations
|
(417,954
|
)
|
13,372
|
|||||
Intercompany eliminations
|
484,693
|
(6,338
|
)
|
|||||
EBITDA
|
578,261
|
384,014
|
|
Backlog refers to the expected future revenue under signed contracts and legally binding letters of intent. The breakdown by operating segments as of December 31, 2020, and the dates in which they are
estimated to be realized is shown in the following table:
|
Annual Backlog
|
||||||||
2020
|
2021
|
2022
|
2023+
|
|||||
Engineering and Construction
|
3,091,072
|
2,588,137
|
502,935
|
-
|
||||
Infrastructure
|
1,784,582
|
601,020
|
597,520
|
586,042
|
||||
Real estate
|
218,598
|
194,654
|
23,944
|
-
|
||||
Parent company operations
|
166,324
|
97,808
|
45,702
|
22,814
|
||||
Intercompany eliminations
|
(440,152)
|
(145,950)
|
(146,968)
|
(147,235)
|
||||
4,820,424
|
3,335,670
|
1,023,134
|
461,621
|
Operating segments financial position | ||||||||||||||||||||||||||||||||||||
Segment reporting
|
||||||||||||||||||||||||||||||||||||
Infrastructure | ||||||||||||||||||||||||||||||||||||
As of December 31, 2019
|
Engineering and
construction
|
Energy |
Toll roads
|
Transportation
|
Water
treatment
|
Real estate
|
Parent
Company
operations
|
Eliminations
|
Consolidated | |||||||||||||||||||||||||||
Assets.-
|
||||||||||||||||||||||||||||||||||||
Cash and cash equivalent
|
372,991
|
53,118
|
123,020
|
300,896
|
6,388
|
60,718
|
33,570
|
-
|
950,701
|
|||||||||||||||||||||||||||
Trade accounts receivables, net
|
531,591
|
63,402
|
44,513
|
97,059
|
1,168
|
83,019
|
93,452
|
-
|
914,204
|
|||||||||||||||||||||||||||
Work in progress, net
|
49,457
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
49,457
|
|||||||||||||||||||||||||||
Accounts receivable from related parties
|
202,181
|
369
|
43,852
|
1,853
|
-
|
1,144
|
99,794
|
(312,535)
|
36,658
|
|||||||||||||||||||||||||||
Other accounts receivable
|
327,977
|
30,853
|
30,228
|
18,548
|
109
|
9,509
|
37,248
|
2
|
454,474
|
|||||||||||||||||||||||||||
Inventories, net
|
57,093
|
32,366
|
7,109
|
30,594
|
-
|
437,012
|
2,828
|
(11,601)
|
555,401
|
|||||||||||||||||||||||||||
Prepaid expenses
|
6,812
|
1,271
|
2,779
|
231
|
133
|
-
|
5,252
|
-
|
16,478
|
|||||||||||||||||||||||||||
1,548,102
|
181,379
|
251,501
|
449,181
|
7,798
|
591,402
|
272,144
|
(324,134)
|
2,977,373
|
||||||||||||||||||||||||||||
Non-current assets classified as held for sale
|
2,398
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
2,398
|
|||||||||||||||||||||||||||
Total current assets
|
1,550,500
|
181,379
|
251,501
|
449,181
|
7,798
|
591,402
|
272,144
|
(324,134)
|
2,979,771
|
|||||||||||||||||||||||||||
Long-term trade accounts receivable, net
|
97,256
|
-
|
36,273
|
619,086
|
-
|
587
|
26,407
|
-
|
779,609
|
|||||||||||||||||||||||||||
Long-term work in progress, net
|
-
|
-
|
23,117
|
-
|
-
|
-
|
-
|
-
|
23,117
|
|||||||||||||||||||||||||||
Long-term accounts receivable from related parties
|
318,748
|
-
|
836
|
-
|
10,475
|
-
|
552,687
|
(308,023)
|
574,723
|
|||||||||||||||||||||||||||
Prepaid expenses
|
-
|
887
|
24,462
|
2,307
|
788
|
-
|
-
|
(510)
|
27,934
|
|||||||||||||||||||||||||||
Other long-term accounts receivable
|
86,097
|
63,649
|
5,156
|
-
|
7,346
|
50,449
|
60,735
|
-
|
273,432
|
|||||||||||||||||||||||||||
Investments in associates and joint ventures
|
109,839
|
8,006
|
-
|
-
|
-
|
6,062
|
1,495,422
|
(1,582,294)
|
37,035
|
|||||||||||||||||||||||||||
Investment property
|
1,450
|
-
|
-
|
-
|
-
|
26,876
|
-
|
-
|
28,326
|
|||||||||||||||||||||||||||
Property, plant and equipment, net
|
186,589
|
184,819
|
11,106
|
841
|
153
|
11,742
|
69,899
|
(1,159)
|
463,990
|
|||||||||||||||||||||||||||
Intangible assets, net
|
136,547
|
244,901
|
443,420
|
794
|
-
|
1,029
|
20,402
|
7,134
|
854,227
|
|||||||||||||||||||||||||||
Right-of-use assets, net
|
5,638
|
24,038
|
3,860
|
5
|
7
|
5,048
|
67,300
|
(15,315)
|
90,581
|
|||||||||||||||||||||||||||
Deferred income tax asset
|
176,740
|
4,741
|
13,054
|
-
|
720
|
19,736
|
51,552
|
5,176
|
271,719
|
|||||||||||||||||||||||||||
Total non-current assets
|
1,118,904
|
531,041
|
561,284
|
623,033
|
19,489
|
121,529
|
2,344,404
|
(1,894,991)
|
3,424,693
|
|||||||||||||||||||||||||||
Total assets
|
2,669,404
|
712,420
|
812,785
|
1,072,214
|
27,287
|
712,931
|
2,616,548
|
(2,219,125
|
6,404,464
|
|||||||||||||||||||||||||||
Liabilities.-
|
||||||||||||||||||||||||||||||||||||
Borrowings
|
180,535
|
42,760
|
2,383
|
5
|
6
|
116,231
|
148,648
|
(9,039)
|
481,529
|
|||||||||||||||||||||||||||
Bonds
|
-
|
-
|
28,995
|
15,742
|
-
|
-
|
-
|
-
|
44,737
|
|||||||||||||||||||||||||||
Trade accounts payable
|
932,142
|
67,444
|
34,762
|
28,508
|
132
|
39,645
|
56,442
|
-
|
1,159,075
|
|||||||||||||||||||||||||||
Accounts payable to related parties
|
206,907
|
2,233
|
35,554
|
21,024
|
-
|
23,437
|
58,951
|
(309,190)
|
38,916
|
|||||||||||||||||||||||||||
Current income tax
|
18,451
|
961
|
3,710
|
23,887
|
-
|
704
|
3,456
|
-
|
51,169
|
|||||||||||||||||||||||||||
Other accounts payable
|
441,271
|
16,721
|
53,987
|
4,713
|
835
|
83,345
|
68,802
|
-
|
669,674
|
|||||||||||||||||||||||||||
Provisions
|
6,031
|
18,459
|
6,183
|
-
|
-
|
230
|
82,580
|
-
|
113,483
|
|||||||||||||||||||||||||||
Total current liabilities
|
1,785,337
|
148,578
|
165,574
|
93,879
|
973
|
263,592
|
418,879
|
(318,229)
|
2,558,583
|
|||||||||||||||||||||||||||
Borrowings
|
32,620
|
116,218
|
2,070
|
-
|
-
|
11,010
|
254,931
|
(7,783)
|
409,066
|
|||||||||||||||||||||||||||
Long-term bonds
|
-
|
-
|
276,550
|
602,755
|
-
|
-
|
-
|
-
|
879,305
|
|||||||||||||||||||||||||||
Long-term trade accounts payable
|
-
|
-
|
-
|
-
|
-
|
-
|
34,814
|
-
|
34,814
|
|||||||||||||||||||||||||||
Other long-term accounts payable
|
222,887
|
-
|
15,989
|
2,176
|
2,106
|
26,841
|
26,291
|
-
|
296,290
|
|||||||||||||||||||||||||||
Long-term accounts payable to related parties
|
120,255
|
-
|
836
|
22,583
|
23,784
|
-
|
165,286
|
(310,161)
|
22,583
|
|||||||||||||||||||||||||||
Provisions
|
80,125
|
40,268
|
24,691
|
1,394
|
-
|
-
|
68,474
|
-
|
214,952
|
|||||||||||||||||||||||||||
Derivative financial instruments
|
-
|
52
|
-
|
-
|
-
|
-
|
-
|
-
|
52
|
|||||||||||||||||||||||||||
Deferred income tax liability
|
31,037
|
36,476
|
5,806
|
39,172
|
-
|
-
|
243
|
-
|
112,734
|
|||||||||||||||||||||||||||
Total non-current liabilities
|
486,924
|
193,014
|
325,942
|
668,080
|
25,890
|
37,851
|
550,039
|
(317,944)
|
1,969,796
|
|||||||||||||||||||||||||||
Total liabilities
|
2,272,261
|
341,592
|
491,516
|
761,959
|
26,863
|
301,443
|
968,918
|
(636,173)
|
4,528,379
|
|||||||||||||||||||||||||||
Equity attributable to controlling interest in the Company
|
330,992
|
346,415
|
258,223
|
232,692
|
424
|
137,542
|
1,644,707
|
(1,473,185)
|
1,477,810
|
|||||||||||||||||||||||||||
Non-controlling interest
|
66,151
|
24,413
|
63,046
|
77,563
|
-
|
273,946
|
2,923
|
(109,767)
|
398,275
|
|||||||||||||||||||||||||||
Total liabilities and equity
|
2,669,404
|
712,420
|
812,785
|
1,072,214
|
27,287
|
712,931
|
2,616,548
|
(2,219,125)
|
6,404,464
|
|
|
Operating segments financial position | ||||||||||||||||||||||||||||||||||||
Segment reporting
|
||||||||||||||||||||||||||||||||||||
Infrastructure | ||||||||||||||||||||||||||||||||||||
As of December 31, 2020
|
Engineering and
construction
|
Energy |
Toll roads
|
Transportation
|
Water
treatment
|
Real estate
|
Parent
Company
operations
|
Eliminations | Consolidated | |||||||||||||||||||||||||||
Assets.-
|
||||||||||||||||||||||||||||||||||||
Cash and cash equivalent
|
382,850
|
60,165
|
117,893
|
207,975
|
7,408
|
73,531
|
50,346
|
-
|
900,168
|
|||||||||||||||||||||||||||
Trade accounts receivables, net
|
425,939
|
37,614
|
25,014
|
111,602
|
565
|
38,043
|
64,390
|
-
|
703,167
|
|||||||||||||||||||||||||||
Work in progress, net
|
186,433
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
186,433
|
|||||||||||||||||||||||||||
Accounts receivable from related parties
|
107,495
|
35
|
31,868
|
2,624
|
30
|
1,342
|
104,007
|
(220,063
|
) |
27,338
|
||||||||||||||||||||||||||
Other accounts receivable
|
323,084
|
27,900
|
67,265
|
13,220
|
197
|
10,446
|
35,051
|
2
|
477,165
|
|||||||||||||||||||||||||||
Inventories, net
|
58,653
|
36,016
|
8,496
|
31,861
|
-
|
418,341
|
360
|
(1,727
|
) |
552,000
|
||||||||||||||||||||||||||
Prepaid expenses
|
7,798
|
1,964
|
6,485
|
328
|
116
|
-
|
6,281
|
-
|
22,972
|
|||||||||||||||||||||||||||
Total current assets
|
1,492,252
|
163,694
|
257,021
|
367,610
|
8,316
|
541,703
|
260,435
|
(221,788
|
2,869,243
|
|||||||||||||||||||||||||||
Long-term trade accounts receivable, net
|
53,036
|
-
|
15,740
|
632,214
|
-
|
2,181
|
27,495
|
-
|
730,666
|
|||||||||||||||||||||||||||
Long-term accounts receivable from related parties
|
315,393
|
-
|
14,508
|
-
|
11,103
|
-
|
611,498
|
(332,431
|
) |
620,071
|
||||||||||||||||||||||||||
Prepaid expenses
|
-
|
981
|
19,009
|
2,048
|
736
|
-
|
-
|
(510
|
) |
22,264
|
||||||||||||||||||||||||||
Other long-term accounts receivable
|
134,719
|
70,694
|
531
|
-
|
7,346
|
54,237
|
60,696
|
-
|
328,223
|
|||||||||||||||||||||||||||
Investments in associates and joint ventures
|
109,870
|
8,080
|
-
|
-
|
-
|
6,095
|
1,424,614
|
(1,513,143
|
) |
35,516
|
||||||||||||||||||||||||||
Investment property
|
1,467
|
-
|
-
|
-
|
-
|
24,606
|
44,521
|
(44,521
|
) |
26,073
|
||||||||||||||||||||||||||
Property, plant and equipment, net
|
169,091
|
166,382
|
9,186
|
794
|
146
|
9,592
|
16,718
|
33,560
|
405,469
|
|||||||||||||||||||||||||||
Intangible assets, net
|
143,575
|
250,327
|
371,437
|
681
|
-
|
872
|
19,017
|
6,081
|
791,990
|
|||||||||||||||||||||||||||
Right-of-use assets, net
|
8,179
|
9,872
|
4,626
|
99
|
-
|
3,936
|
51,401
|
(13,595
|
) |
64,518
|
||||||||||||||||||||||||||
Deferred income tax asset
|
174,269
|
4,717
|
5,037
|
-
|
779
|
18,704
|
53,994
|
5,123
|
262,623
|
|||||||||||||||||||||||||||
Total non-current assets
|
1,109,599
|
511,053
|
440,074
|
635,836
|
20,110
|
120,223
|
2,309,954
|
(1,859,436
|
) |
3,287,413
|
||||||||||||||||||||||||||
Total assets
|
2,601,851
|
674,747
|
697,095
|
1,003,446
|
28,426
|
661,926
|
2,570,389
|
(2,081,224
|
) |
6,156,656
|
||||||||||||||||||||||||||
Liabilities.-
|
||||||||||||||||||||||||||||||||||||
Borrowings
|
230,682
|
32,550
|
2,405
|
42
|
-
|
95,709
|
102,469
|
(10,973
|
) |
452,884
|
||||||||||||||||||||||||||
Bonds
|
4,546
|
-
|
32,819
|
21,081
|
-
|
-
|
-
|
-
|
58,446
|
|||||||||||||||||||||||||||
Trade accounts payable
|
861,833
|
51,225
|
51,221
|
32,637
|
61
|
42,565
|
57,625
|
-
|
1,097,167
|
|||||||||||||||||||||||||||
Accounts payable to related parties
|
185,104
|
1,083
|
19,642
|
21,531
|
-
|
19,074
|
15,708
|
(218,324
|
43,818
|
|||||||||||||||||||||||||||
Current income tax
|
26,922
|
1,351
|
1,638
|
3,606
|
166
|
-
|
811
|
-
|
34,494
|
|||||||||||||||||||||||||||
Other accounts payable
|
525,195
|
12,905
|
35,997
|
6,719
|
766
|
91,976
|
40,252
|
4,596
|
718,406
|
|||||||||||||||||||||||||||
Provisions
|
17,711
|
18,943
|
6,694
|
-
|
-
|
492
|
97,904
|
-
|
141,744
|
|||||||||||||||||||||||||||
Total current liabilities
|
1,851,993
|
118,057
|
150,416
|
85,616
|
993
|
249,816
|
314,769
|
(224,701
|
2,546,959
|
|||||||||||||||||||||||||||
Borrowings
|
25,273
|
103,154
|
2,291
|
59
|
-
|
11,021
|
328,753
|
(25,115
|
445,436
|
|||||||||||||||||||||||||||
Long-term bonds
|
22,911
|
-
|
248,029
|
603,373
|
-
|
-
|
-
|
-
|
874,313
|
|||||||||||||||||||||||||||
Long-term trade accounts payable
|
-
|
-
|
-
|
-
|
-
|
-
|
40,502
|
-
|
40,502
|
|||||||||||||||||||||||||||
Other long-term accounts payable
|
140,605
|
-
|
11,623
|
231
|
2,761
|
23,357
|
4,653
|
-
|
183,230
|
|||||||||||||||||||||||||||
Long-term accounts payable to related parties
|
104,432
|
-
|
836
|
36,297
|
24,207
|
-
|
186,886
|
(316,361
|
36,297
|
|||||||||||||||||||||||||||
Provisions
|
83,198
|
37,599
|
17,436
|
1,925
|
-
|
-
|
97,678
|
-
|
237,836
|
|||||||||||||||||||||||||||
Deferred income tax liability
|
25,576
|
36,793
|
1,518
|
39,020
|
-
|
-
|
-
|
-
|
102,907
|
|||||||||||||||||||||||||||
Total non-current liabilities
|
401,995
|
177,546
|
281,733
|
680,905
|
26,968
|
34,378
|
658,472
|
(341,476
|
1,920,521
|
|||||||||||||||||||||||||||
Total liabilities
|
2,253,988
|
295,603
|
432,149
|
766,521
|
27,961
|
284,194
|
973,241
|
(566,177
|
4,467,480
|
|||||||||||||||||||||||||||
Equity attributable to controlling interest in the Company
|
291,636
|
354,982
|
206,993
|
177,694
|
465
|
138,933
|
1,594,264
|
(1,403,825
|
1,361,142
|
|||||||||||||||||||||||||||
Non-controlling interest
|
56,227
|
24,162
|
57,953
|
59,231
|
-
|
238,799
|
2,884
|
(111,222
|
328,034
|
|||||||||||||||||||||||||||
Total liabilities and equity
|
2,601,851
|
674,747
|
697,095
|
1,003,446
|
28,426
|
661,926
|
2,570,389
|
(2,081,224
|
6,156,656
|
|
|
|
Operating segment performance
|
||||||||||||||||||||||||||||||||||||
Segment Reporting
|
||||||||||||||||||||||||||||||||||||
Infrastructure
|
||||||||||||||||||||||||||||||||||||
For the year ended December 31, 2019
|
Engineering and construction
|
Energy |
Toll roads
|
Transportation
|
Water treatment
|
Real estate
|
Parent
Company
operations
|
Elimination |
Consolidated
|
|||||||||||||||||||||||||||
Revenue
|
2,797,326
|
552,584
|
633,301
|
397,853
|
3,555
|
264,401
|
342,608
|
(653,767
|
)
|
4,337,861
|
||||||||||||||||||||||||||
Gross profit (loss)
|
98,362
|
108,291
|
96,164
|
119,464
|
500
|
70,787
|
6,584
|
(49,715
|
)
|
450,437
|
||||||||||||||||||||||||||
Administrative expenses
|
(141,421
|
)
|
(24,230
|
)
|
(28,623
|
)
|
(17,991
|
)
|
(397
|
)
|
(22,045
|
)
|
(75,146
|
)
|
61,201
|
(248,652
|
)
|
|||||||||||||||||||
Other income and expenses, net
|
9,937
|
606
|
(47,998
|
)
|
(2,661
|
)
|
12
|
20,020
|
(318,489
|
)
|
(921
|
)
|
(339,494
|
)
|
||||||||||||||||||||||
Operating (loss) profit
|
(33,122
|
)
|
84,667
|
19,543
|
98,812
|
115
|
68,762
|
(387,051
|
)
|
10,565
|
(137,709
|
)
|
||||||||||||||||||||||||
Financial expenses
|
(74,171
|
)
|
(13,266
|
)
|
(27,297
|
)
|
(10,948
|
)
|
(12
|
)
|
(42,320
|
)
|
(123,339
|
)
|
38,219
|
(253,134
|
)
|
|||||||||||||||||||
Financial income
|
5,644
|
2,033
|
2,245
|
33,214
|
826
|
3,829
|
74,546
|
(47,991
|
)
|
74,346
|
||||||||||||||||||||||||||
Dividends
|
-
|
-
|
-
|
-
|
-
|
-
|
12,688
|
(12,688
|
)
|
-
|
||||||||||||||||||||||||||
Share of profit or loss in associates
|
||||||||||||||||||||||||||||||||||||
and joint ventures
|
(3,558
|
)
|
2,293
|
-
|
-
|
-
|
458
|
(711,962
|
)
|
493,995
|
(218,774
|
)
|
||||||||||||||||||||||||
(Loss) profit before income tax
|
(105,207
|
)
|
75,727
|
(5,509
|
)
|
121,078
|
929
|
30,729
|
(1,135,118
|
)
|
482,100
|
(535,271
|
)
|
|||||||||||||||||||||||
Income tax
|
(35,457
|
)
|
(22,911
|
)
|
(17,112
|
)
|
(39,634
|
)
|
(506
|
)
|
(7,000
|
)
|
(179,633
|
)
|
(1,118
|
)
|
(303,371
|
)
|
||||||||||||||||||
(Loss) profit for the year
|
(140,664
|
)
|
52,816
|
(22,621
|
)
|
81,444
|
423
|
23,729
|
(1,314,751
|
)
|
480,982
|
(838,642
|
)
|
|||||||||||||||||||||||
(Loss) profit from attributable to:
|
||||||||||||||||||||||||||||||||||||
Owners of the Company
|
(137,109
|
)
|
48,056
|
(28,270
|
)
|
61,084
|
423
|
(4,995
|
)
|
(1,304,676
|
)
|
480,766
|
(884,721
|
)
|
||||||||||||||||||||||
Non-controlling interest
|
(3,555
|
)
|
4,760
|
5,649
|
20,360
|
-
|
28,724
|
(10,075
|
)
|
216
|
46,079
|
|||||||||||||||||||||||||
(140,664
|
)
|
52,816
|
(22,621
|
)
|
81,444
|
423
|
23,729
|
(1,314,751
|
)
|
480,982
|
(838,642
|
)
|
Operating segment performance
|
||||||||||||||||||||||||||||||||||||
Segment Reporting
|
||||||||||||||||||||||||||||||||||||
Infrastructure | ||||||||||||||||||||||||||||||||||||
For the year ended December 31, 2020
|
Engineering and construction | Energy |
Toll roads
|
Transportation
|
Water treatment
|
Real estate |
Parent
Company
operations
|
Elimination | Consolidated | |||||||||||||||||||||||||||
Revenue
|
2,092,592
|
369,798
|
466,824
|
345,258
|
3,359
|
182,439
|
240,799
|
(387,040)
|
|
3,314,029
|
||||||||||||||||||||||||||
Gross profit (loss)
|
115,995
|
53,251
|
40,858
|
107,918
|
366
|
40,345
|
8,134
|
(46,259)
|
|
320,608
|
||||||||||||||||||||||||||
Administrative expenses
|
(102,985)
|
|
(16,119)
|
(16,584)
|
|
(12,738)
|
|
(289)
|
|
(16,462)
|
|
(42,543)
|
|
54,811
|
(152,909)
|
|
||||||||||||||||||||
Other income and expenses, net
|
(10,914)
|
(4,185)
|
|
(34,283)
|
|
72
|
42
|
1,962
|
(39,991)
|
|
65
|
(87,232)
|
|
|||||||||||||||||||||||
Operating profit (loss)
|
2,096
|
32,947
|
(10,009)
|
|
95,252
|
119
|
25,845
|
(74,400)
|
|
8,617
|
80,467
|
|||||||||||||||||||||||||
Financial expenses
|
(54,173)
|
|
(17,525)
|
|
(32,376)
|
|
(9,316)
|
|
(275)
|
|
(12,647)
|
|
(59,076)
|
|
28,445
|
(156,943)
|
|
|||||||||||||||||||
Financial income
|
6,603
|
2,239
|
4,326
|
1,586
|
897
|
4,584
|
47,506
|
(30,510)
|
|
37,231
|
||||||||||||||||||||||||||
Dividends
|
-
|
-
|
-
|
-
|
-
|
-
|
7,222
|
(7,222)
|
|
-
|
||||||||||||||||||||||||||
Share of profit or loss in associates
|
||||||||||||||||||||||||||||||||||||
and joint ventures
|
-
|
2,391
|
-
|
-
|
-
|
34
|
(261)
|
|
(1,394)
|
|
770
|
|||||||||||||||||||||||||
(Loss) profit before income tax
|
(45,474)
|
|
20,052
|
(38,059)
|
|
87,522
|
741
|
17,816
|
(79,009)
|
|
(2,064)
|
|
(38,475)
|
|
||||||||||||||||||||||
Income tax
|
(3,614)
|
|
(7,500)
|
|
(13,477)
|
(26,681)
|
|
(277)
|
|
(2,854)
|
|
(3,549)
|
|
(37)
|
|
(57,989)
|
|
|||||||||||||||||||
(Loss) profit for the year
|
(49,088)
|
|
12,552
|
(51,536
|
|
60,841
|
464
|
14,962
|
(82,558)
|
|
(2,101)
|
|
(96,464)
|
|
||||||||||||||||||||||
(Loss) profit from attributable to:
|
||||||||||||||||||||||||||||||||||||
Owners of the Company
|
(46,445)
|
|
9,176
|
(43,581)
|
|
45,631
|
464
|
1,391
|
(82,518)
|
|
(8,453)
|
|
(124,335)
|
|
||||||||||||||||||||||
Non-controlling interest
|
(2,643)
|
|
3,376
|
(7,955)
|
|
15,210
|
-
|
13,571
|
(40)
|
|
6,352
|
27,871
|
||||||||||||||||||||||||
(49,088)
|
|
12,552
|
(51,536)
|
|
60,841
|
464
|
14,962
|
(82,558)
|
(2,101)
|
|
(96,464)
|
|
At December, 31
|
||||||||
2019
|
2020
|
|||||||
Financial assets according to the statement of financial position
|
||||||||
Loans and accounts receivable at amortized cost:
|
||||||||
- Cash and cash equivalents
|
950,701
|
900,168
|
||||||
- Trade accounts receivable and other accounts receivable
|
||||||||
(excluding financial assets)
|
1,358,282
|
1,222,211
|
||||||
- Financial assets related to concession agreements
|
748,365
|
775,677
|
||||||
- Accounts receivable from related parties
|
36,658
|
27,338
|
||||||
3,094,006
|
2,925,394
|
At December, 31
|
||||||||
2019
|
2020
|
|||||||
Financial liabilities according to the statement of financial position
|
||||||||
Other financial liabilities at amortized cost:
|
||||||||
- Other financial liabilities
|
774,075
|
773,203
|
||||||
- Finance leases
|
23,650
|
52,391
|
||||||
- Lease liability for right-of-use asset
|
92,870
|
72,726
|
||||||
- Bonds
|
924,042
|
932,759
|
||||||
- Trade and other accounts payable
|
||||||||
(excluding non-financial liabilities)
|
1,467,283
|
1,447,515
|
||||||
- Accounts payable to related parties
|
61,499
|
80,115
|
||||||
3,343,419
|
3,358,709
|
|||||||
Hedging derivatives:
|
||||||||
- Derivative financial instruments
|
52
|
-
|
|
The credit quality of financial assets that are neither past due nor impaired can be assessed with reference to external risk ratings (if they exist), or based on historical information on the default rates of their
counterparties.
|
2019
|
2020
|
|||||||
Cash and cash equivalents (*)
|
||||||||
Banco de Credito del Peru (A+)
|
303,193
|
351,515
|
||||||
Banco Continental (A+)
|
186,239
|
147,868
|
||||||
Citibank (A)
|
183,723
|
128,100
|
||||||
Banco Scotiabank (A+)
|
114
|
54,478
|
||||||
Banco de la Nacion (A)
|
64,106
|
52,448
|
||||||
Credicorp Capital Colombia (AAA)
|
41,718
|
45,808
|
||||||
Banco Interbank (A)
|
56,114
|
22,882
|
||||||
JP Morgan (AAA)
|
46
|
21,247
|
||||||
Santander Colombia (AAA)
|
15,183
|
18,256
|
||||||
Banco Scotiabank - Chile (A+)
|
5,833
|
17,174
|
||||||
Banco Bogota (BB+)
|
7,255
|
12,194
|
||||||
Banco Santander - Chile (AAA)
|
1,407
|
8,579
|
||||||
Banco Santander - Perú (A)
|
115
|
8,516
|
||||||
Fondo de Inversion Alianza (AA+)
|
9,801
|
2,114
|
||||||
Banco de crédito e Inversiones - Chile (AA+)
|
44,338
|
-
|
||||||
Banco de crédito e Inversiones - Chile (AA+)
|
17,853
|
-
|
||||||
Others
|
6,676
|
5,653
|
||||||
943,714
|
896,832
|
A:
|
New customers/related parties (less than six months),
|
B:
|
Existing customers/related parties (with more than six months of trade relationship) with no previous default history; and
|
C:
|
Existing customers/related parties (with more than six months of trade relationship) with previous default history.
|
2019
|
2020
|
|||||||
Trade accounts receivable (Note 10)
|
||||||||
Counterparties with no external risk rating
|
||||||||
A
|
58,442
|
40,034
|
||||||
B
|
1,492,446
|
1,275,523
|
||||||
C
|
142,925
|
118,276
|
||||||
1,693,813
|
1,433,833
|
|||||||
Receivable from related parties and
|
||||||||
joint operators (Note 12)
|
||||||||
B
|
611,381
|
647,409
|
||||||
2019
|
2020
|
|||||||
Cash on hand
|
1,323
|
996
|
||||||
Remittances in-transit
|
5,664
|
2,340
|
||||||
Bank accounts
|
225,101
|
300,552
|
||||||
Escrow account (a)
|
552,439
|
501,015
|
||||||
Time deposits (b)
|
166,174
|
95,265
|
||||||
950,701
|
900,168
|
(a)
|
The Corporation maintains trust accounts in local and foreign banks that includes reserve funds for bond payments issued by the subsidiaries GyM Ferrovias S.A. and Norvial S.A. for the year 2020 S/132 million and S/21 million,
respectively (for the year 2019 S/181 million and S/18 million, respectively), as shown in the following detail:
|
2019
|
2020
|
|||||||
Reserve funds issued bonds
|
199,192
|
153,075
|
||||||
Real estate projects
|
31,794
|
35,273
|
||||||
Engineering and construction projects
|
236,526
|
263,631
|
||||||
Infrastructure projects
|
84,927
|
49,036
|
||||||
552,439
|
501,015
|
(b)
|
Time deposits have maturities less than 90 days and may be renewed upon maturity. These deposits earn interest that fluctuates between 0.25% and 2.70%.
|
Financial
|
Interest
|
||||||||||||
|
entities |
rate
|
2019
|
2020
|
|||||||||
GyM Ferrovias S.A.
|
Banco de Credito del Peru
|
2.70
|
%
|
32,300
|
65,000
|
||||||||
GyM Ferrovias S.A.
|
Banco Continental
|
69,531
|
-
|
||||||||||
Norvial S.A.
|
Banco de Credito del Peru
|
0.25
|
%
|
4,763
|
7,429
|
||||||||
AENZA S.A.A. (formerly Graña y Montero S.A.A.)
|
Banco de Credito del Peru
|
2.40
|
%
|
5,312
|
6,500
|
||||||||
Concesionaria la Chira S.A.
|
Banco de Credito del Peru
|
1.65
|
%
|
-
|
6,250
|
||||||||
Survial S.A.
|
Banco de Credito del Peru
|
0.15
|
%
|
15,400
|
4,800
|
||||||||
Concesion Canchaque S.A.C.
|
Banco de Credito del Peru
|
0.25
|
%
|
662
|
4,381
|
||||||||
GMP S.A.
|
Banco de Credito del Peru
|
0.50
|
%
|
-
|
905
|
||||||||
GyM S.A.
|
Banco de Credito del Peru
|
28,213
|
-
|
||||||||||
GMI S.A.
|
Banco de Credito del Peru
|
9,993
|
-
|
||||||||||
166,174
|
95,265
|
Total
|
Current
|
Non-current
|
||||||||||||||||||||||
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||
Receivables (net) (a)
|
959,151
|
753,693
|
415,970
|
254,587
|
543,181
|
499,106
|
||||||||||||||||||
Unbilled receivables (net) - Subsidiaries (b)
|
499,974
|
413,364
|
387,998
|
337,244
|
111,976
|
76,120
|
||||||||||||||||||
Unbilled receivables (net) - Concessions (c)
|
234,688
|
266,776
|
110,236
|
111,336
|
124,452
|
155,440
|
||||||||||||||||||
1,693,813
|
1,433,833
|
914,204
|
703,167
|
779,609
|
730,666
|
a)
|
The detail of the age of the commercial receivables net of impairment corresponds as follows:
|
2019
|
2020
|
|||||||
Current
|
817,233
|
718,220
|
||||||
Past due up to 30 days
|
45,922
|
5,737
|
||||||
Past due from 31 days up to 90 days
|
27,364
|
6,801
|
||||||
Past due from 91 days up to 120 days
|
1,319
|
2,279
|
||||||
Past due from 121 days up to 360 days
|
10,502
|
4,185
|
||||||
Past due over 360 days
|
56,811
|
16,471
|
||||||
959,151
|
753,693
|
b) The unbilled receivables by subsidiaries are documents related to the estimates of the degree of progress for services rendered that were not billed, according to the following detail: |
2019
|
2020
|
|||||||
GYM S.A.
|
384,660
|
315,878
|
||||||
Concar S.A.C.
|
10,737
|
6,298
|
||||||
GMI S.A.
|
24,787
|
25,823
|
||||||
GMP S.A.
|
1,657
|
1,512 |
||||||
Adexus S.A.
|
78,133
|
63,853
|
||||||
499,974
|
413,364
|
2019
|
2020
|
|||||||
Infrastructure
|
||||||||
Operation and maintenance of roads
|
9,837
|
4,167
|
||||||
Oil services
|
1,657
|
1,512
|
||||||
Others
|
901
|
2,131
|
||||||
12,395
|
7,810
|
Engineering and Construction
|
||||||||
Talara Refinery
|
190,831
|
70,329
|
||||||
Project Quellaveco
|
52,488
|
84,014
|
||||||
Project Mina Justa
|
26,658
|
1,743
|
||||||
Civil works, assembly and electromechanics - Acero Arequipa
|
16,449
|
1,357
|
||||||
Project Mina Gold Fields La Cima S.A.
|
3,409
|
15,055
|
||||||
Generating Plant Machu Picchu
|
13,098
|
15,653
|
||||||
Works and Consortiums
|
11,311
|
6,576
|
||||||
Engineering and Construction Works VYV - DSD Chile Ltda.
|
38,194
|
43,159
|
||||||
Engineering and Construction Works - Morelco S.A.S.
|
40,400
|
16,066
|
||||||
Others
|
16,608
|
87,749
|
||||||
409,446
|
341,701
|
|||||||
Parent Company Operation
|
78,133
|
63,853
|
||||||
499,974
|
413,364
|
c) The unbilled receivables (net) – Concessions (Note 2.5), corresponds to future collections for public services granted according detail below: |
2019
|
2020
|
|||||||
GyM Ferrovias S.A.
|
208,205
|
235,763
|
||||||
Survial S.A.
|
16,466
|
10,611
|
||||||
Norvial S.A.
|
2,149
|
15,436
|
||||||
Concesión Canchaque S.A.C.
|
6,700
|
4,401
|
||||||
Concesionaria La Chira S.A.
|
1,168
|
565
|
||||||
234,688
|
266,776
|
2019
|
2020
|
|||||||
Balance at January, 1
|
(7,633
|
)
|
(8,422
|
)
|
||||
Imparment, net (Note 26.ii)
|
(955
|
)
|
(19,772
|
)
|
||||
Imparment, net (Note 28.b)
|
-
|
(33,874
|
)
|
|||||
Write-off
|
12
|
5,653
|
||||||
Exchange difference
|
37
|
(212
|
)
|
|||||
Translation adjustments
|
117
|
(3
|
)
|
|||||
Balance at December, 31
|
(8,422
|
)
|
(56,630
|
)
|
||||
Carrying amount
|
Fair value
|
|||||||||||||||
2019
|
2020
|
2019
|
2020
|
|||||||||||||
GyM Ferrovias S.A.
|
579,765
|
590,092
|
696,665
|
783,643
|
||||||||||||
579,765
|
590,092
|
696,665
|
783,643
|
f)
|
The maximum exposure to credit risk at the reporting date is the carrying amount of accounts receivable and work in progress (Note 11).
|
Total
|
Current
|
Non-current
|
||||||||||||||||||||||
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||
Unbilled receivable concessions in progress (a)
|
23,117
|
-
|
-
|
-
|
23,117
|
-
|
||||||||||||||||||
Work in progress (b)
|
49,457
|
186,433
|
49,457
|
186,433
|
)
|
-
|
-
|
|||||||||||||||||
72,574
|
186,433
|
49,457
|
186,433
|
23,117
|
-
|
The ongoing work costs include all expenses incurred by the Corporation under construction contracts currently in force. The Corporation estimates that all the cost incurred will be billed and collected. |
|
a) Corresponds to the accounts receivable from the Municipality of Lima related to the mandatory investments from the Concession Contract and the income guaranteed by the Grantor from the start of exploitation. As of December 31, 2019, these accounts are presented in the long term because it was expected to be collected once the operation stage began. To date, both the Concession term and most of the obligations under the respective Concession Contract remain suspended by agreement between the parties and pending the agreement of the terms and conditions to approve the Early Termination of the Concession Contract by Mutual Agreement. In accordance with the provisions of Clause 16.3 of the aforementioned Contract, for this reason the balance has been reclassified to “Other accounts receivable - Third-party claims”. |
|
b) Mainly includes S/171 million corresponding to GyM S.A. and its subsidiary Vial y Vives - DSD S.A. (S/29.6 million as of December 31, 2019); and S/15.5 million from GMI S.A.
(S/19.9 million as of December 31, 2019).
|
2019
|
2020
|
|||||||
Infrastructure
|
||||||||
Road operation and maintenance
|
23,117
|
-
|
||||||
23,117
|
-
|
|||||||
Engineering and construction
|
||||||||
Engineering and Construction Works - GYM Chile S.p.A.
|
19,531
|
97,561
|
||||||
Talara Refinery
|
20,126
|
15,468
|
||||||
North Concentrator Plant of Quellaveco
|
1,033
|
50,216
|
||||||
Ground transport tunnel of Quellaveco
|
-
|
18,485
|
||||||
Others
|
8,767
|
4,703
|
||||||
49,457
|
186,433
|
|||||||
72,574
|
186,433
|
2019
|
2020
|
|||||||
Revenue from sales of goods and services:
|
||||||||
- Joint operations
|
44,130
|
15,903
|
||||||
- Associates
|
108
|
5
|
||||||
44,238
|
15,908
|
|||||||
Purchase of goods and services:
|
||||||||
- Joint operations
|
1,765
|
-
|
||||||
- Associates
|
-
|
1,225
|
||||||
1,765
|
1,225
|
|||||||
At December 31,
|
At December 31,
|
|||||||||||||||
2020
|
||||||||||||||||
Receivable
|
Payable
|
Receivable
|
Payable
|
|||||||||||||
Current portion:
|
||||||||||||||||
Joint operations
|
||||||||||||||||
Consorcio Rio Urubamba
|
9,042
|
-
|
9,357
|
-
|
||||||||||||
Consorcio Peruano de Conservacion
|
3,592
|
-
|
3,156
|
-
|
||||||||||||
Consorcio Italo Peruano
|
1,011
|
363
|
1,520
|
217
|
||||||||||||
Consorcio Constructor Chavimochic
|
-
|
5,953
|
-
|
6,208
|
||||||||||||
Consorcio GyM Conciviles
|
1,257
|
1,958
|
1,341
|
1,472
|
||||||||||||
Consorcio La Gloria
|
1,750
|
1,017
|
69
|
113
|
||||||||||||
Consorcio Ermitaño
|
831
|
440
|
890
|
474
|
||||||||||||
Terminales del Peru
|
1,176
|
-
|
501
|
161
|
||||||||||||
Consorcio TNT Vial y Vives - DSD Chile Ltda
|
-
|
1,088
|
-
|
1,015
|
||||||||||||
Consorcio Rio Mantaro
|
-
|
5,869
|
-
|
7,655
|
||||||||||||
Consorcio Vial Quinua
|
-
|
2,048
|
-
|
2,051
|
||||||||||||
Consorcio Huacho Pativilca
|
1,419
|
5,895
|
4
|
85
|
||||||||||||
Consorcio CDEM
|
638
|
-
|
1,111
|
-
|
||||||||||||
Consorcio GyM-Stracon
|
2,230
|
-
|
-
|
644
|
||||||||||||
Consorcio GyM-OSSA
|
7,202
|
-
|
-
|
-
|
||||||||||||
Consorcio Chicama Ascope
|
2,471
|
-
|
2,922
|
-
|
||||||||||||
Consorcio Inti Punku
|
-
|
-
|
-
|
6,556
|
||||||||||||
Consorcio Manperan
|
-
|
-
|
1,057
|
656
|
||||||||||||
Consorcio Norte Pachacutec
|
-
|
-
|
1,077
|
1,192
|
||||||||||||
Other minors
|
1,407
|
2,102
|
2,373
|
1,503
|
||||||||||||
34,026
|
26,733
|
25,378
|
30,002
|
|||||||||||||
Other related parties
|
||||||||||||||||
Ferrovías Argentina
|
-
|
12,183
|
-
|
11,139
|
||||||||||||
Perú Piping Spools S.A.C.
|
2,632
|
-
|
1,960
|
2,677
|
||||||||||||
2,632
|
12,183
|
1,960
|
13,816
|
|||||||||||||
Current portion
|
36,658
|
38,916
|
27,338
|
43,818
|
||||||||||||
Non-current portion
|
||||||||||||||||
Gasoducto Sur Peruano S.A.
|
572,624
|
-
|
620,071
|
-
|
||||||||||||
Ferrovías Argentina
|
- | - |
- |
12,862 | ||||||||||||
Ferrovías Participaciones
|
-
|
22,583
|
-
|
23,435
|
||||||||||||
Other minors
|
2,099
|
-
|
-
|
-
|
||||||||||||
Non-current
|
574,723
|
22,583
|
620,071
|
36,297
|
Total
|
Current
|
Non-current
|
||||||||||||||||||||||
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||
Advances to suppliers (a)
|
135,481
|
76,200
|
135,481
|
76,200
|
-
|
-
|
||||||||||||||||||
Income tax on-account payments (b)
|
71,541
|
48,054
|
71,541
|
48,052
|
-
|
2
|
||||||||||||||||||
VAT credit (c)
|
47,167
|
54,076
|
32,903
|
43,498
|
14,264
|
10,578
|
||||||||||||||||||
Guarantee deposits (d)
|
189,210
|
217,441
|
104,965
|
156,123
|
84,245
|
61,318
|
||||||||||||||||||
Claims to third parties (e)
|
83,054
|
212,565
|
38,874
|
108,748
|
44,180
|
103,817
|
||||||||||||||||||
Petroleos del Peru S.A.- Petroperu S.A. (f)
|
80,942
|
87,826
|
17,293
|
17,132
|
63,649
|
70,694
|
||||||||||||||||||
ITAN and other tax receivable
|
60,883
|
63,003
|
30,233
|
30,468
|
30,650
|
32,535
|
||||||||||||||||||
Restricted funds (g)
|
16,523
|
29,121
|
1,522
|
2,092
|
15,001
|
27,029
|
||||||||||||||||||
Rental and sale of equipment - GyM S.A. projects
|
30,798
|
29,149
|
30,798
|
29,149
|
-
|
-
|
||||||||||||||||||
Accounts receivable from personneel
|
2,940
|
10,957
|
2,940
|
10,957
|
-
|
-
|
||||||||||||||||||
Consorcio Panorama (h)
|
23,491
|
25,026
|
-
|
-
|
23,491
|
25,026
|
||||||||||||||||||
Other minors
|
16,574
|
10,386
|
15,339
|
9,738
|
1,235
|
648
|
||||||||||||||||||
758,604
|
863,804
|
481,889
|
532,157
|
276,715
|
331,647
|
|||||||||||||||||||
Impairment (i)
|
(30,698
|
)
|
(58,416
|
)
|
(27,415
|
)
|
(54,992
|
)
|
(3,283
|
)
|
(3,424
|
)
|
||||||||||||
727,906
|
805,388
|
454,474
|
477,165
|
273,432
|
328,223
|
Current
|
||||||||
2019
|
2020
|
|||||||
Alsthom Transporte - Linea 1
|
2,597
|
5,786
|
||||||
Advances - joint operations vendors
|
49,181
|
36,803
|
||||||
Others
|
35,400
|
26,660
|
||||||
135,481
|
76,200
|
Total
|
Current
|
Non-current
|
||||||||||||||||||||||
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||
GyM S.A.
|
45,628
|
35,599
|
45,628
|
35,599
|
-
|
-
|
||||||||||||||||||
GMI S.A.
|
7,203
|
3,532
|
7,203
|
3,532
|
-
|
-
|
||||||||||||||||||
GMP S.A.
|
2,400
|
1,883
|
2,400
|
1,883
|
-
|
-
|
||||||||||||||||||
Concar S.A.
|
3,709
|
3,340
|
3,709
|
3,340
|
-
|
-
|
||||||||||||||||||
Viva GyM S.A.
|
3,485
|
1,351
|
3,485
|
1,351
|
-
|
-
|
||||||||||||||||||
AENZA S.A.A. (formerly Graña y Montero S.A.A.)
|
2,895
|
1,348
|
2,895
|
1,348
|
-
|
-
|
||||||||||||||||||
Norvial S.A.
|
4,266
|
5
|
4,266
|
5
|
-
|
-
|
||||||||||||||||||
Survial S.A.
|
426
|
141
|
426
|
141
|
-
|
-
|
||||||||||||||||||
Others
|
1,529
|
855
|
1,529
|
853
|
-
|
2
|
||||||||||||||||||
71,541
|
48,054
|
71,541
|
48,052
|
-
|
2
|
Total
|
Current
|
Non-current
|
||||||||||||||||||||||
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||
GyM S.A.
|
12,963
|
12,868
|
12,963
|
12,868
|
-
|
-
|
||||||||||||||||||
GyM Ferrovias S.A.
|
11,970
|
3,335
|
11,970
|
3,335
|
-
|
-
|
||||||||||||||||||
AENZA S.A.A. (formerly Graña y Montero S.A.A.)
|
-
|
648
|
-
|
648
|
-
|
-
|
||||||||||||||||||
Concar S.A.
|
1,653
|
1,527
|
1,653
|
1,527
|
-
|
-
|
||||||||||||||||||
Survial SA.
|
1,817
|
2,631
|
1,817
|
2,631
|
-
|
-
|
||||||||||||||||||
GMI S.A.
|
1,513
|
13,754
|
1,513
|
13,754
|
-
|
-
|
||||||||||||||||||
Viva GyM S.A.
|
6,874
|
8,111
|
513
|
953
|
6,361
|
7,158
|
||||||||||||||||||
GMP S.A.
|
396
|
678
|
396
|
678
|
-
|
-
|
||||||||||||||||||
Others
|
9,981
|
10,524
|
2,078
|
7,104
|
7,903
|
3,420
|
||||||||||||||||||
47,167
|
54,076
|
32,903
|
43,498
|
14,264
|
10,578
|
Total
|
Current
|
Non-current
|
||||||||||||||||||||||
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||
Talara Refinery
|
55,567
|
58,831
|
308
|
812
|
55,259
|
58,019
|
||||||||||||||||||
Retention Toquepala
|
19,630
|
-
|
19,630
|
-
|
-
|
-
|
||||||||||||||||||
Retention Minera Teck
|
16,075
|
64,175
|
16,075
|
64,175
|
-
|
-
|
||||||||||||||||||
Retention Quellaveco
|
15,926
|
23,699
|
15,926
|
23,699
|
-
|
-
|
||||||||||||||||||
Joint operations retention
|
29,575
|
29,792
|
15,654
|
29,792
|
13,921
|
-
|
||||||||||||||||||
Retention Morelco
|
15,261
|
14,108
|
15,261
|
14,108
|
-
|
-
|
||||||||||||||||||
Retention Marcobre
|
5,052
|
302
|
5,052
|
302
|
-
|
-
|
||||||||||||||||||
SBLC guarantees - Sale of CAM Chile S.p.A.
|
14,726
|
-
|
3,576
|
-
|
11,150
|
-
|
||||||||||||||||||
Others
|
17,398
|
26,534
|
13,483
|
23,235
|
3,915
|
3,299
|
||||||||||||||||||
189,210
|
221,298
|
104,965
|
156,123
|
84,245
|
61,318
|
Total
|
Current
|
Non-current
|
||||||||||||||||||||||
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||
Técnicas Reunidas - Talara (e-1)
|
-
|
53,635
|
-
|
-
|
-
|
53,635
|
||||||||||||||||||
Municipality of Lima (e.2)
|
-
|
49,625
|
-
|
49,625
|
-
|
-
|
||||||||||||||||||
Ministerio de Vivienda and Fondo Mi Vivienda
|
20,536
|
21,816
|
-
|
-
|
20,536
|
21,816
|
||||||||||||||||||
Accounts receivable from joint venture
|
39,736
|
60,861
|
23,934
|
38,326
|
15,802
|
22,535
|
||||||||||||||||||
Others
|
22,782
|
26,628
|
14,940
|
20,797
|
7,842
|
5,831
|
||||||||||||||||||
83,054
|
212,565
|
38,874
|
108,748
|
44,180
|
103,817 |
Totales
|
Guaranties Retention
|
|
Claims to third parties |
|||||||||||||||||||||
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||
Balance at January, 1
|
(25,567
|
)
|
(30,698
|
)
|
-
|
165
|
(25,567
|
)
|
(30,863
|
)
|
||||||||||||||
Impairment of Concar S.A.C. (Note 26.ii)
|
(1,457
|
)
|
(11,431
|
)
|
-
|
-
|
(1,457
|
)
|
(11,431
|
)
|
||||||||||||||
Impairment of Sucursal Colombia (Note 26.ii)
|
(3,283
|
)
|
-
|
-
|
-
|
(3,283
|
)
|
-
|
||||||||||||||||
Impairment of third-party claims (Note 26.ii)
|
(964
|
)
|
(887
|
)
|
-
|
-
|
(964
|
)
|
(887
|
)
|
||||||||||||||
Impairment of third-party claims (Note 28.b)
|
-
|
(513
|
)
|
-
|
-
|
-
|
(513
|
)
|
||||||||||||||||
Impairment of Cam Holding S.P.A. (Note 28.b)
|
-
|
(12,511
|
)
|
-
|
(12,511
|
)
|
-
|
-
|
||||||||||||||||
Impairment of Concesionaria Vía Expresa Sur S.A. (Note 28.b)
|
-
|
(12,213
|
)
|
-
|
-
|
-
|
(12,213
|
)
|
||||||||||||||||
Reversal of impairment of third-party claims (Note 28.b)
|
32
|
-
|
-
|
-
|
32
|
-
|
||||||||||||||||||
Write-off
|
-
|
12,205
|
-
|
12,530
|
-
|
(325
|
)
|
|||||||||||||||||
Exchange difference
|
387
|
(2,188
|
)
|
-
|
-
|
387
|
(2,188
|
)
|
||||||||||||||||
Translations adjustments
|
154
|
(180
|
)
|
165
|
(184
|
)
|
(11
|
)
|
4
|
|||||||||||||||
Balance at December, 31
|
(30,698
|
)
|
(58,416
|
)
|
165
|
-
|
(30,863
|
)
|
(58,416
|
)
|
2019
|
2020
|
|||||||
Land
|
183,218
|
176,927
|
||||||
Work in progress - Real estate
|
158,010
|
164,514
|
||||||
Finished properties
|
86,190
|
78,048
|
||||||
Construction materials
|
59,879
|
58,621
|
||||||
Merchandise and supplies
|
77,787
|
80,142
|
||||||
565,084
|
558,252
|
|||||||
Impairment of inventories
|
(9,683
|
)
|
(6,252
|
)
|
||||
555,401
|
552,000
|
2019
|
2020
|
|||||||
Lurin (a)
|
71,902
|
81,493
|
||||||
San Isidro (b)
|
51,285
|
51,626
|
||||||
Nuevo Chimbote (c)
|
17,457
|
17,616
|
||||||
Barranco (d)
|
14,202
|
14,432
|
||||||
Piura (e)
|
11,805
|
11,760
|
||||||
Carabayllo III
|
16,567
|
-
|
||||||
183,218
|
176,927
|
2019
|
2020
|
|||||||
Los Parques de Comas
|
77,757
|
66,114
|
||||||
Los Parques del Callao
|
35,549
|
26,613
|
||||||
Los Parques de Piura
|
5,658
|
9,514
|
||||||
Los Parques del Mar
|
32,183
|
44,683
|
||||||
Los Parques de Carabayllo III
|
-
|
10,266
|
||||||
Inmobiliaria Pezet 417 S.A.C.
|
4,091
|
4,459
|
||||||
Others
|
2,772
|
2,865
|
||||||
158,010
|
164,514
|
2019
|
2020
|
|||||||
Los Parques de Comas
|
37,605
|
32,098
|
||||||
Los Parques de Callao
|
10,914
|
14,479
|
||||||
Huancayo
|
19,672
|
13,033
|
||||||
Los Parques de Carabayllo III
|
168
|
8,518
|
||||||
Strip Callao
|
-
|
6,286
|
||||||
El Nuevo Rancho
|
4,060
|
1,284
|
||||||
Los Parques de Piura
|
6,050
|
1,034
|
||||||
Klimt
|
5,978
|
-
|
||||||
Los Parques de San Martín de Porres
|
903
|
-
|
||||||
Others
|
840
|
1,316
|
||||||
86,190
|
78,048
|
As of December 31, 2020, the balance of finished properties is net of an impairment of S/3.8 million (S/4.5 million as of December 31, 2019). |
As of December 31, 2020, the construction materials correspond mainly to projects of the subsidiary GyM S.A. for S/53.1 million (GyM S.A. for S/56.2 million as of December 31, 2019). |
Carrying amount
|
||||||||||
Class
|
Interest in capital
|
At December 31,
|
||||||||
Entity
|
of share
|
2019
|
2020
|
2019
|
2020
|
|||||
%
|
%
|
|||||||||
Gasoducto del Peru S.A. ( * )
|
Common | - |
- | - | - | |||||
Concesionaria Chavimochic S.A.C.
|
Common
|
26.50
|
26.50
|
18,320
|
18,058
|
|||||
Peru Piping Spools S.A.C.
|
Common
|
33.33
|
33.33
|
4,166
|
2,760
|
|||||
Obratres S.A.C.
|
Common
|
37.50
|
37.50
|
3,756
|
3,812
|
|||||
Inversiones Majes S.A.
|
Common
|
9.59
|
9.59
|
2,306
|
2,283
|
|||||
Others
|
327
|
333
|
||||||||
28,875
|
27,246
|
2019
|
2020
|
|||||||
Opening balance
|
250,282
|
28,875
|
||||||
Equity interest in results
|
(220,993
|
)
|
(1,635
|
)
|
||||
Impairment of investment
|
(374
|
)
|
(38
|
)
|
||||
Conversion adjustment
|
(40
|
)
|
44
|
|||||
Final balance
|
28,875
|
27,246
|
Concesionaria
|
||||||||
Chavimochic S.A.C.
|
||||||||
At December, 31
|
||||||||
Entity
|
2019
|
2020
|
||||||
Current
|
||||||||
Assets
|
55,830
|
58,814
|
||||||
Liabilities
|
(1,596
|
)
|
(4,795
|
)
|
||||
Non-current
|
||||||||
Assets
|
12,408
|
11,635
|
||||||
Net assets
|
66,642
|
65,654
|
||||||
Concesionaria
|
||||||||
Chavimochic S.A.C.
|
||||||||
Entity
|
2019
|
2020
|
||||||
Administrative expenses
|
(11,028
|
)
|
(4,521
|
)
|
||||
Loss operative
|
(11,028
|
)
|
(4,521
|
)
|
||||
Others
|
(719
|
)
|
3,534
|
|||||
Loss of the year
|
(11,747
|
)
|
(987
|
)
|
||||
Total comprehensive loss
|
(11,747
|
)
|
(987
|
)
|
Carrying amount
|
||||||||||
Class
|
Interest in capital
|
At December 31,
|
||||||||
Entity
|
of share
|
2019
|
2020
|
2019
|
2020
|
|||||
%
|
%
|
|||||||||
Logistica Quimicos del Sur S.A.C.
|
Common
|
)
|
50.00
|
50.00
|
8,006
|
8,080
|
||||
Constructora SK-VyV Ltda.
|
Common
|
50.00
|
50.00
|
29
|
34
|
|||||
Others
|
-
|
-
|
125
|
156
|
||||||
8,160
|
8,270
|
2019
|
2020
|
|||||||
Opening balance
|
7,483
|
8,160
|
||||||
Equity interest in results
|
2,219
|
2,405
|
||||||
Dividends received
|
(1,517
|
)
|
(2,318
|
)
|
||||
Conversion adjustment
|
(14
|
)
|
23
|
|||||
Impairment of investment
|
(11
|
)
|
-
|
|||||
Final balance
|
8,160
|
8,270
|
At December, 31
|
||||||||
Logistica Quimicos del Sur S.A.C.
|
2019
|
2020
|
||||||
Current
|
||||||||
Cash and cash equivalents
|
2,131
|
2,710
|
||||||
Other current assets
|
2,416
|
3,324
|
||||||
Total current assets
|
4,547
|
6,034
|
||||||
Other current liabilities
|
(4,381
|
)
|
(6,108
|
)
|
||||
Total current liabilities
|
(4,381
|
)
|
(6,108
|
)
|
||||
Non-current
|
||||||||
Total non-current assets
|
37,620
|
35,715
|
||||||
Total non-current liabilities
|
(21,773
|
)
|
(19,484
|
)
|
||||
Net assets
|
16,013
|
16,157
|
||||||
Revenue
|
12,622
|
13,351
|
||||||
Depreciation and amortization
|
(2,505
|
)
|
(2,394
|
)
|
||||
Interest expense
|
(644
|
)
|
(508
|
)
|
||||
Profit from continuing operations
|
4,698
|
6,854
|
||||||
Income tax expense
|
(1,913
|
)
|
(2,072
|
)
|
||||
Profit from continuing operations
after income tax
|
4,587
|
4,782
|
||||||
Total comprehensive income
|
4,587
|
4,782
|
Furniture
|
Replacement
|
|||||||||||||||||||||||||||||||||||
and
|
Other
|
and in-transit
|
Work in
|
|||||||||||||||||||||||||||||||||
Land
|
Buildings
|
Machinery
|
Vehicles
|
fixtures
|
equipment
|
units
|
progress
|
Total
|
||||||||||||||||||||||||||||
Cost
|
20,482
|
129,482
|
689,845
|
85,349
|
59,643
|
170,622
|
17,814
|
34,582
|
1,207,819
|
|||||||||||||||||||||||||||
Accumulated depreciation and impairment
|
(273
|
)
|
(33,808
|
)
|
(435,630
|
)
|
(45,272
|
)
|
(49,311
|
)
|
(139,579
|
)
|
(10
|
)
|
(352
|
)
|
(704,235
|
)
|
||||||||||||||||||
Net carrying amount
|
20,209
|
95,674
|
254,215
|
40,077
|
10,332
|
31,043
|
17,804
|
34,230
|
503,584
|
|||||||||||||||||||||||||||
Net initial carrying amount
|
20,209
|
95,674
|
254,215
|
40,077
|
10,332
|
31,043
|
17,804
|
34,230
|
503,584
|
|||||||||||||||||||||||||||
Additions (i)
|
290
|
459
|
23,011
|
866
|
759
|
9,897
|
7,036
|
39,584
|
81,902
|
|||||||||||||||||||||||||||
Depreciation charge
|
-
|
(7,387
|
)
|
(48,035
|
)
|
(9,816
|
)
|
(2,338
|
)
|
(12,989
|
)
|
(1
|
)
|
-
|
(80,566
|
)
|
||||||||||||||||||||
Deduction for sale of assets (ii)
|
-
|
(78
|
)
|
(22,885
|
)
|
(9,531
|
)
|
(133
|
)
|
(2,789
|
)
|
(9
|
)
|
-
|
(35,425
|
)
|
||||||||||||||||||||
Depreciation for sale deductions (ii)
|
-
|
78
|
19,520
|
5,232
|
86
|
2,717
|
-
|
-
|
27,633
|
|||||||||||||||||||||||||||
Disposals, net
|
-
|
(674
|
)
|
(316
|
)
|
(101
|
)
|
(187
|
)
|
(2,350
|
)
|
-
|
-
|
(3,628
|
)
|
|||||||||||||||||||||
Impairment loss
|
-
|
-
|
(3,155
|
)
|
-
|
-
|
-
|
-
|
(15,785
|
)
|
(18,940
|
)
|
||||||||||||||||||||||||
Transfers (iii)
|
(273
|
)
|
(1,187
|
)
|
-
|
-
|
-
|
-
|
-
|
(804
|
)
|
(2,264
|
)
|
|||||||||||||||||||||||
Reclassifications
|
-
|
1,672
|
52,720
|
342
|
207
|
369
|
(14,217
|
)
|
(41,093
|
)
|
-
|
|||||||||||||||||||||||||
Translations adjustments
|
(525
|
)
|
(647
|
)
|
(3,719
|
)
|
(746
|
)
|
(142
|
)
|
(2,527
|
)
|
-
|
-
|
(8,306
|
)
|
||||||||||||||||||||
Net final carrying amount
|
19,701
|
87,910
|
271,356
|
26,323
|
8,584
|
23,371
|
10,613
|
16,132
|
463,990
|
|||||||||||||||||||||||||||
Cost
|
19,974
|
129,911
|
726,173
|
75,146
|
58,236
|
179,179
|
10,624
|
32,269
|
1,231,512
|
|||||||||||||||||||||||||||
Accumulated depreciation and impairment
|
(273
|
)
|
(42,001
|
)
|
(454,817
|
)
|
(48,823
|
)
|
(49,652
|
)
|
(155,808
|
)
|
(11
|
)
|
(16,137
|
)
|
(767,522
|
)
|
||||||||||||||||||
Net carrying amount
|
19,701
|
87,910
|
271,356
|
26,323
|
8,584
|
23,371
|
10,613
|
16,132
|
463,990
|
Furniture
|
Replacement
|
|||||||||||||||||||||||||||||||||||
and
|
Other
|
and in-transit
|
Work in
|
|||||||||||||||||||||||||||||||||
Land
|
Buildings
|
Machinery
|
Vehicles
|
fixtures
|
equipment
|
units
|
progress
|
Total
|
||||||||||||||||||||||||||||
Cost
|
19,974
|
129,911
|
726,173
|
75,146
|
58,236
|
179,179
|
10,624
|
32,269
|
1,231,512
|
|||||||||||||||||||||||||||
Accumulated depreciation and impairment
|
(273
|
)
|
(42,001
|
)
|
(454,817
|
)
|
(48,823
|
)
|
(49,652
|
)
|
(155,808
|
)
|
(11
|
)
|
(16,137
|
)
|
(767,522
|
)
|
||||||||||||||||||
Net carrying amount
|
19,701
|
87,910
|
271,356
|
26,323
|
8,584
|
23,371
|
10,613
|
16,132
|
463,990
|
|||||||||||||||||||||||||||
Net initial carrying amount
|
19,701
|
87,910
|
271,356
|
26,323
|
8,584
|
23,371
|
10,613
|
16,132
|
463,990
|
|||||||||||||||||||||||||||
Additions (i)
|
-
|
412
|
17,941
|
-
|
844
|
1,781
|
3,549
|
11,538
|
36,065
|
|||||||||||||||||||||||||||
Depreciation charge
|
-
|
(7,636
|
)
|
(53,220
|
)
|
(4,461
|
)
|
(1,344
|
)
|
(11,899
|
)
|
-
|
-
|
(78,560
|
)
|
|||||||||||||||||||||
Deduction for sale of assets (ii)
|
-
|
(192
|
)
|
(26,046
|
)
|
(11,762
|
)
|
(523
|
)
|
(448
|
)
|
-
|
-
|
(38,971
|
)
|
|||||||||||||||||||||
Depreciation for sale deductions (ii)
|
-
|
58
|
25,293
|
5,836
|
495
|
428
|
-
|
-
|
32,110
|
|||||||||||||||||||||||||||
Disposals, net
|
(9,895
|
)
|
(2,014
|
)
|
(237
|
)
|
(94
|
)
|
(140
|
)
|
6
|
-
|
-
|
(12,374
|
)
|
|||||||||||||||||||||
Impairment loss
|
-
|
(161
|
)
|
(5,069
|
)
|
(17
|
)
|
33
|
-
|
-
|
-
|
(5,214
|
)
|
|||||||||||||||||||||||
Transfers (iii)
|
-
|
-
|
-
|
-
|
-
|
89
|
-
|
-
|
89
|
|||||||||||||||||||||||||||
Reclassifications
|
-
|
1,404
|
23,745
|
35
|
-
|
379
|
(2,216
|
)
|
(23,347
|
)
|
-
|
|||||||||||||||||||||||||
Translations adjustments
|
800
|
1,419
|
3,474
|
864
|
(12
|
)
|
1,769
|
-
|
20
|
8,334
|
||||||||||||||||||||||||||
Net final carrying amount
|
10,606
|
81,200
|
257,237
|
16,724
|
7,937
|
15,476
|
11,946
|
4,343
|
405,469
|
|||||||||||||||||||||||||||
Cost
|
10,879
|
132,940
|
750,769
|
64,666
|
52,843
|
156,111
|
11,957
|
20,481
|
1,200,646
|
|||||||||||||||||||||||||||
Accumulated depreciation and impairment
|
(273
|
)
|
(51,740
|
)
|
(493,532
|
)
|
(47,942
|
)
|
(44,906
|
)
|
(140,635
|
)
|
(11
|
)
|
(16,138
|
)
|
(795,177
|
)
|
||||||||||||||||||
Net carrying amount
|
10,606
|
81,200
|
257,237
|
16,724
|
7,937
|
15,476
|
11,946
|
4,343
|
405,469
|
2019
|
2020
|
|||||||
Cost of services and goods (Note 26)
|
108,066
|
90,146
|
||||||
Administrative expenses (Note 26)
|
4,252
|
8,358
|
||||||
Total depreciation related to property, plant and
equipment and investment property
|
112,318
|
98,504
|
||||||
(-) Depreciation related to investment property
|
(2,356
|
)
|
(2,412
|
)
|
||||
(-) Depreciation related to right-of-use assets (Note 16.2)
|
(29,396
|
)
|
(17,531
|
)
|
||||
Total depreciation of property, plant
and equipment
|
80,566
|
78,561
|
The net carrying amount of machinery and equipment, vehicles and furniture and fixtures acquired under finance lease contracts is broken down as follows:
|
At December 31,
|
||||||||
2020
|
||||||||
Cost of acquisition
|
68,553
|
64,623
|
||||||
Accumulated depreciation
|
(46,773
|
)
|
(52,165
|
)
|
||||
Net carrying amount
|
21,780
|
12,458
|
Buildings
|
Machinery
and
equipments
|
Vehicles
|
Total
|
|||||||||||||
Additions
|
80,279
|
18,597
|
20,830
|
119,706
|
||||||||||||
Depreciation charge
|
(13,568
|
)
|
(6,899
|
)
|
(8,929
|
)
|
(29,396
|
)
|
||||||||
Translations adjustments
|
271
|
-
|
-
|
271
|
||||||||||||
Net final carrying amount
|
66,982
|
11,698
|
11,901
|
90,581
|
||||||||||||
Cost
|
80,550
|
18,597
|
20,830
|
119,977
|
||||||||||||
Accumulated depreciation
|
(13,568
|
)
|
(6,899
|
)
|
(8,929
|
)
|
(29,396
|
)
|
||||||||
Net carrying amount
|
66,982
|
11,698
|
11,901
|
90,581
|
||||||||||||
66,982
|
11,698
|
11,901
|
90,581
|
|||||||||||||
Additions
|
6,681
|
876
|
4,518
|
12,075
|
||||||||||||
Depreciation charge
|
(13,211
|
)
|
(5,834
|
)
|
1,514
|
(17,531
|
)
|
|||||||||
Disposals, net
|
(10,463
|
)
|
-
|
(11,078
|
)
|
(21,541
|
)
|
|||||||||
Translations adjustments
|
880
|
-
|
54
|
934
|
||||||||||||
Net final carrying amount
|
50,869
|
6,740
|
6,909
|
64,518
|
||||||||||||
Cost
|
75,849
|
19,344
|
14,324
|
109,517
|
||||||||||||
Accumulated depreciation
|
(24,980
|
)
|
(12,604
|
)
|
(7,415
|
)
|
(44,999
|
)
|
||||||||
Net carrying amount
|
50,869
|
6,740
|
6,909
|
64,518
|
2019
|
2020
|
|||||||
Cost of services and goods
|
26,449
|
15,938
|
||||||
Administrative expenses
|
2,947
|
1,593
|
||||||
29,396
|
17,531
|
The costs related to the leasing of machinery and equipment for which the Corporation applied the exceptions described in paragraph 5 of IFRS 16 are
the following: |
Contractual
|
Software and
|
Costs of
|
Land
|
|||||||||||||||||||||||||||||||||
Trade-
|
Concession
|
relations
|
development
|
development
|
use
|
Other
|
||||||||||||||||||||||||||||||
Goodwill
|
marks
|
rights
|
with clients
|
costs
|
of wells
|
rights
|
assets
|
Total
|
||||||||||||||||||||||||||||
Cost
|
95,789
|
76,307
|
680,920
|
75,862
|
98,621
|
456,508
|
13,288
|
85,468
|
1,582,763
|
|||||||||||||||||||||||||||
Accumulated amortization and impairment
|
(3,431
|
)
|
(23,817
|
)
|
(214,078
|
)
|
(71,565
|
)
|
(54,264
|
)
|
(321,004
|
)
|
-
|
(38,426
|
)
|
(726,585
|
)
|
|||||||||||||||||||
Net cost
|
92,358
|
52,490
|
466,842
|
4,297
|
44,357
|
135,504
|
13,288
|
47,042
|
856,178
|
|||||||||||||||||||||||||||
Net initial cost
|
92,358
|
52,490
|
466,842
|
4,297
|
44,357
|
135,504
|
13,288
|
47,042
|
856,178
|
|||||||||||||||||||||||||||
Additions
|
-
|
-
|
26,645
|
-
|
(15,044
|
)
|
102,022
|
-
|
5,212
|
118,835
|
||||||||||||||||||||||||||
Capitalization of interest expenses
|
-
|
-
|
2,725
|
-
|
-
|
-
|
-
|
802
|
3,527
|
|||||||||||||||||||||||||||
Transfers from assets under construction
|
-
|
-
|
-
|
-
|
672
|
-
|
-
|
(672
|
)
|
-
|
||||||||||||||||||||||||||
Derecognition - net
|
-
|
-
|
-
|
-
|
(2,015
|
)
|
-
|
-
|
(1,351
|
)
|
(3,366
|
)
|
||||||||||||||||||||||||
Amortization
|
-
|
-
|
(49,049
|
)
|
(3,682
|
)
|
(7,529
|
)
|
(43,552
|
)
|
-
|
4,500
|
(99,312
|
)
|
||||||||||||||||||||||
Impairment loss
|
(33,089
|
)
|
-
|
(3,213
|
)
|
-
|
-
|
-
|
(2,468
|
)
|
-
|
(38,770
|
)
|
|||||||||||||||||||||||
Impairment reversal
|
-
|
20,676
|
-
|
-
|
-
|
-
|
-
|
-
|
20,676
|
|||||||||||||||||||||||||||
Translations adjustments
|
(1,902
|
)
|
(2,471
|
)
|
-
|
(114
|
)
|
946
|
-
|
-
|
-
|
(3,541
|
)
|
|||||||||||||||||||||||
Net final cost
|
57,367
|
70,695
|
443,950
|
501
|
21,387
|
193,974
|
10,820
|
55,533
|
854,227
|
|||||||||||||||||||||||||||
Cost
|
93,887
|
73,836
|
710,290
|
72,810
|
63,278
|
558,530
|
13,288
|
113,057
|
1,698,976
|
|||||||||||||||||||||||||||
Accumulated amortization and impairment
|
(36,520
|
)
|
(3,141
|
)
|
(266,340
|
)
|
(72,309
|
)
|
(41,891
|
)
|
(364,556
|
)
|
(2,468
|
)
|
(57,524
|
)
|
(844,749
|
)
|
||||||||||||||||||
Net cost
|
57,367
|
70,695
|
443,950
|
501
|
21,387
|
193,974
|
10,820
|
55,533
|
854,227
|
Contractual
|
Software and
|
Costs of
|
Land
|
|||||||||||||||||||||||||||||||||
Trade-
|
Concession
|
relations
|
development
|
development
|
use
|
Other
|
||||||||||||||||||||||||||||||
Goodwill
|
marks
|
rights
|
with clients
|
costs
|
of wells
|
rights
|
assets
|
Total
|
||||||||||||||||||||||||||||
Cost
|
93,887
|
73,836
|
710,290
|
72,810
|
63,278
|
558,530
|
13,288
|
113,057
|
1,698,976
|
|||||||||||||||||||||||||||
Accumulated amortization and impairment
|
(36,520
|
)
|
(3,141
|
)
|
(266,340
|
)
|
(72,309
|
)
|
(41,891
|
)
|
(364,556
|
)
|
(2,468
|
)
|
(57,524
|
)
|
(844,749
|
)
|
||||||||||||||||||
Net cost
|
57,367
|
70,695
|
443,950
|
501
|
21,387
|
193,974
|
10,820
|
55,533
|
854,227
|
|||||||||||||||||||||||||||
Net initial cost
|
57,367
|
70,695
|
443,950
|
501
|
21,387
|
193,974
|
10,820
|
55,533
|
854,227
|
|||||||||||||||||||||||||||
Additions
|
-
|
-
|
4,412
|
-
|
1,526
|
37,994
|
-
|
6,473
|
50,405
|
|||||||||||||||||||||||||||
Capitalization of interest expenses
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
1,105
|
1,105
|
|||||||||||||||||||||||||||
Transfers from assets under construction
|
-
|
-
|
-
|
-
|
(64
|
)
|
(25
|
)
|
-
|
-
|
(89
|
)
|
||||||||||||||||||||||||
Derecognition - net
|
-
|
-
|
-
|
-
|
(492
|
)
|
-
|
-
|
-
|
(492
|
)
|
|||||||||||||||||||||||||
Amortization
|
-
|
-
|
(52,408
|
)
|
-
|
(6,037
|
)
|
(36,942
|
)
|
-
|
(3,234
|
)
|
(98,621
|
)
|
||||||||||||||||||||||
Translations adjustments
|
1,579
|
7,810
|
-
|
22
|
201
|
-
|
-
|
-
|
9,612
|
|||||||||||||||||||||||||||
Reclassifications
|
-
|
(84
|
)
|
(24,157
|
)
|
-
|
74
|
-
|
-
|
10
|
(24,157
|
)
|
||||||||||||||||||||||||
Net final cost
|
58,946
|
78,421
|
371,797
|
523
|
16,595
|
195,001
|
10,820
|
59,887
|
791,990
|
|||||||||||||||||||||||||||
Cost
|
95,466
|
81,562
|
690,545
|
77,542
|
63,871
|
596,499
|
13,288
|
120,645
|
1,739,418
|
|||||||||||||||||||||||||||
Accumulated amortization and impairment
|
(36,520
|
)
|
(3,141
|
)
|
(318,748
|
)
|
(77,019
|
)
|
(47,276
|
)
|
(401,498
|
)
|
(2,468
|
)
|
(60,758
|
)
|
(947,428
|
)
|
||||||||||||||||||
Net cost
|
58,946
|
78,421
|
371,797
|
523
|
16,595
|
195,001
|
10,820
|
59,887
|
791,990
|
Management reviews the results of its businesses on the basis of the type of economic activity carried on. As of December 31, the goodwill of the cash-generating units (CGUs) is distributed as follows: |
2019
|
2020
|
|||||||
Engineering and construction
|
36,632
|
38,211
|
||||||
Electromechanical
|
20,735
|
20,735
|
||||||
57,367
|
58,946
|
Engineering
|
||||||||
and
|
Electro-
|
|||||||
construction
|
mechanical
|
|||||||
%
|
%
|
|||||||
2019
|
||||||||
Gross margin
|
12.43
|
%
|
8.86
|
%
|
||||
Terminal growth rate
|
3.00
|
%
|
2.00
|
%
|
||||
Discount rate
|
11.83
|
%
|
11.40
|
%
|
||||
2020
|
||||||||
Gross margin
|
12.50
|
%
|
9.36
|
%
|
||||
Terminal growth rate
|
3.00
|
%
|
2.00
|
%
|
||||
Discount rate
|
11.06
|
%
|
11.77
|
%
|
Engineering
|
||||||||
and construction
|
||||||||
Morelco
|
Vial y Vives-DSD
|
|||||||
%
|
%
|
|||||||
2019
|
||||||||
Average revenue growth rate
|
5.70
|
%
|
19.58
|
%
|
||||
Terminal growth rate
|
3.00
|
%
|
2.00
|
%
|
||||
Discount rate
|
11.83
|
%
|
14.12
|
%
|
||||
2020
|
||||||||
Average revenue growth rate
|
7.60
|
%
|
5.00
|
%
|
||||
Terminal growth rate
|
3.00
|
%
|
2.10
|
%
|
||||
Discount rate
|
11.06
|
%
|
13.16
|
%
|
2019
|
2020
|
|||||||
EPC Contract
|
62,319
|
54,506
|
||||||
Construction of the second tranch of the “Ancon-
|
||||||||
Huacho-Pativilca” highway
|
4,809
|
3,406
|
||||||
Cost of capitalized indebtedness at effective interest
|
||||||||
rates between 7.14% and 8.72%
|
950
|
-
|
||||||
Road improvement
|
14,449
|
12,922
|
||||||
Implementation for road safety
|
8,152
|
9,034
|
||||||
Work capitalization of second roadway
|
314,614
|
280,326
|
||||||
Disbursements for land adquisition
|
4,233
|
4,510
|
||||||
Other intangible assets contracted for the
|
||||||||
delivery process
|
7,477
|
5,026
|
||||||
Total Norvial S.A.
|
417,003
|
369,730
|
||||||
Other concessions
|
26,947
|
2,067
|
||||||
443,950
|
371,797
|
2019
|
2020
|
|||||||
Cost of sales and services (Note 26)
|
94,676
|
94,483
|
||||||
Administrative expenses (Note 26)
|
4,636
|
4,138
|
||||||
99,312
|
98,621
|
Total
|
Current
|
Non-current
|
||||||||||||||||||||||
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||
Bank loans (a)
|
631,863
|
571,659
|
445,289
|
409,272
|
186,574
|
162,387
|
||||||||||||||||||
Finance leases (b)
|
23,650
|
52,391
|
10,357
|
13,635
|
13,293
|
38,756
|
||||||||||||||||||
Lease liability for right-of-use asset (c)
|
92,870
|
72,726
|
23,980
|
19,950
|
68,890
|
52,776
|
||||||||||||||||||
Other financial entities (d)
|
142,212
|
201,544
|
1,903
|
10,027
|
140,309
|
191,517
|
||||||||||||||||||
890,595
|
898,320
|
481,529
|
452,884
|
409,066
|
445,436
|
Current
|
Non-current
|
|||||||||||||||||||||||
Interest
|
Date of
|
At December, 31
|
At December, 31
|
|||||||||||||||||||||
rate
|
maturity
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||
GyM S.A. (i)
|
2.00% / 11.00
|
%
|
2022
|
170,798
|
222,924
|
26,401
|
19,977
|
|||||||||||||||||
GMP S.A. (ii)
|
3.06% / 6.04
|
%
|
2027
|
30,367
|
24,950
|
102,895
|
99,474
|
|||||||||||||||||
AENZA S.A.A. (formerly Graña y Montero S.A.A.) (iii)
|
9.10% / 10.10
|
%
|
2022
|
112,854
|
51,977
|
-
|
39,618
|
|||||||||||||||||
Adexus S.A.
|
0.50% / 1.15
|
%
|
2021
|
20,927
|
19,224
|
57,278
|
-
|
|||||||||||||||||
Viva GyM S.A.
|
6.84% / 11.00
|
%
|
2022
|
110,343
|
90,197
|
-
|
3,318
|
|||||||||||||||||
445,289
|
409,272
|
186,574
|
162,387
|
Current
|
Non-current
|
|||||||||||||||||||||||
Interest
|
Date of
|
At December, 31
|
At December, 31
|
|||||||||||||||||||||
rate
|
maturity
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||
Adexus S.A.
|
0.23% / 0.51
|
%
|
2027
|
608
|
6,848
|
62
|
31,557
|
|||||||||||||||||
Viva GyM S.A.
|
7.79% / 9.04
|
%
|
2023
|
4,297
|
4,617
|
7,399
|
4,357
|
|||||||||||||||||
GyM S.A.
|
4.80% / 7.67
|
%
|
2023
|
3,395
|
2,021
|
5,678
|
2,823
|
|||||||||||||||||
GMP S.A.
|
6.28
|
%
|
2022
|
1,511
|
149
|
154
|
19
|
|||||||||||||||||
Concar S.A.C.
|
4.30% / 5.05
|
%
|
2020
|
546
|
-
|
-
|
-
|
|||||||||||||||||
10,357
|
13,635
|
13,293
|
38,756
|
At December 31,
|
||||||||
2020
|
||||||||
Up to 1 year
|
11,438
|
16,287
|
||||||
From 1 to 5 years
|
16,877
|
35,770
|
||||||
Over 5 years
|
-
|
8,515
|
||||||
28,315
|
60,572
|
|||||||
Future financial charges
|
(4,665
|
)
|
(8,181
|
)
|
||||
Present value of the obligations for finance lease contracts
|
23,650
|
52,391
|
At December 31,
|
||||||||
2020
|
||||||||
Up to 1 year
|
10,357
|
13,635
|
||||||
From 1 year to 5 years
|
13,293
|
30,635
|
||||||
Over 5 years
|
-
|
8,121
|
||||||
23,650
|
52,391
|
Current
|
Non-current
|
|||||||||||||||||||||||
Interest
|
Date of
|
At December, 31
|
At December, 31
|
|||||||||||||||||||||
rate
|
maturity
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||
GMP S.A.
|
6.59% / 7.80
|
%
|
2023
|
10,584
|
6,765
|
10,261
|
2,926
|
|||||||||||||||||
AENZA S.A.A. (formerly Graña y Montero S.A.A.)
|
7.88
|
%
|
2027
|
4,888
|
6,534
|
50,362
|
41,403
|
|||||||||||||||||
Adexus S.A.
|
0.25% / 0.50
|
%
|
2025
|
5,734
|
3,408
|
6,920
|
5,656
|
|||||||||||||||||
GyM S.A.
|
7.65
|
%
|
2022
|
1,592
|
852
|
541
|
426
|
|||||||||||||||||
Concar S.A.C.
|
5.55
|
%
|
2024
|
1,171
|
2,047
|
806
|
1,925
|
|||||||||||||||||
GMI S.A.
|
7.40
|
%
|
2023
|
-
|
302
|
-
|
381
|
|||||||||||||||||
Ferrovías S.A.
|
10.00
|
%
|
2023
|
-
|
42
|
-
|
59
|
|||||||||||||||||
Other minors
|
6.31% / 10.00
|
%
|
2020
|
11
|
-
|
-
|
-
|
|||||||||||||||||
23,980
|
19,950
|
68,890
|
52,776
|
At December 31,
|
||||||||
2020
|
||||||||
Up to 1 year
|
31,036
|
24,714
|
||||||
From 1 to 5 years
|
73,370
|
51,853
|
||||||
Over 5 years
|
11,551
|
11,131
|
||||||
115,957
|
87,698
|
|||||||
Future financial charges
|
(23,087
|
)
|
(14,972
|
)
|
||||
Present value of the lease liability for right-of-use asset obligations
|
92,870
|
72,726
|
At December 31,
|
||||||||
2020
|
||||||||
Up to 1 year
|
23,981
|
19,950
|
||||||
From 1 year to 5 years
|
57,713
|
42,641
|
||||||
Over 5 years
|
11,176
|
10,135
|
||||||
92,870
|
72,726
|
e) |
Fair value of debt
|
Carrying amount
|
Fair value
|
|||||||||||||||
At December, 31
|
At December, 31
|
|||||||||||||||
2019
|
2020
|
2019
|
2020
|
|||||||||||||
Bank loans
|
631,863
|
571,659
|
650,224
|
589,737
|
||||||||||||
Finance leases
|
23,650
|
52,391
|
23,697
|
54,343
|
||||||||||||
Lease liability for right-of-use asset
|
92,870
|
72,726
|
109,453
|
88,779
|
||||||||||||
Other financial entities
|
142,212
|
201,544
|
142,212
|
247,857
|
||||||||||||
890,595
|
898,320
|
925,586
|
980,716
|
Total
|
Current
|
Non-current
|
||||||||||||||||||||||
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||
GyM Ferrovías S.A. (a)
|
618,497
|
624,454
|
15,742
|
21,081
|
602,755
|
603,373
|
||||||||||||||||||
Norvial S.A. (b)
|
305,545
|
280,848
|
28,995
|
32,819
|
276,550
|
248,029
|
||||||||||||||||||
GyM S.A. (c)
|
-
|
27,457
|
-
|
4,546
|
-
|
22,911
|
||||||||||||||||||
924,042
|
932,759
|
44,737
|
58,446
|
879,305
|
874,313
|
a) |
GyM Ferrovias S.A.
|
2019
|
2020
|
|||||||
Balance at January, 1
|
611,660
|
618,497
|
||||||
Amortization
|
(11,330
|
)
|
(11,582
|
)
|
||||
Accrued interest
|
48,253
|
47,615
|
||||||
Interest paid
|
(30,086
|
)
|
(30,076
|
)
|
||||
Balance at December, 31
|
618,497
|
624,454
|
- |
Debt service coverage ratio not less than 1.2 times;
|
- |
Maintain a constant balance in the minimum trust equal to one month of operation and maintenance costs (including VAT). As of December 31, 2019, maintain a minimum balance equal to one quarter of
operating and maintenance costs.
|
- |
Maintain a constant balance in the minimum trust equal to the following two coupons according to the bond schedule.
|
b) |
Norvial S.A.
|
2019
|
2020
|
|||||||
Balance at January, 1
|
325,382
|
305,545
|
||||||
Amortization
|
(20,005
|
)
|
(24,820
|
)
|
||||
Accrued interest
|
23,482
|
24,619
|
||||||
Capitalized interest
|
2,725
|
-
|
||||||
Interest paid
|
(26,039
|
)
|
(24,496
|
)
|
||||
Balance at December, 31
|
305,545
|
280,848
|
- |
Debt service coverage ratio not less than 1.3 times;
|
- |
Proforma leverage ratio less than 4 times.
|
c) |
GyM S.A.
|
Total
|
Current
|
Non-current
|
||||||||||||||||||||||
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||
Invoices payable (a)
|
398,347
|
470,118
|
363,533
|
470,118
|
34,814
|
-
|
||||||||||||||||||
Provision of contract costs (b)
|
758,116
|
659,299
|
758,116
|
618,797
|
-
|
40,502
|
||||||||||||||||||
Notes payable
|
37,426
|
8,252
|
37,426
|
8,252
|
-
|
-
|
||||||||||||||||||
1,193,889
|
1,137,669
|
1,159,075
|
1,097,167
|
34,814
|
40,502
|
2019
|
2020
|
|||||||
Infrastructure
|
||||||||
Linea 1 - Metro de Lima
|
15,125
|
18,992
|
||||||
Oil services
|
46,932
|
33,085
|
||||||
Operation and maintenance - Roads
|
16,000
|
20,194
|
||||||
78,057
|
72,271
|
|||||||
Engineering and Construction
|
||||||||
Talara Refinery
|
59,740
|
96,051
|
||||||
Engineering and Construction Works VYV - DSD Chile Ltda.
|
26,368
|
70,987
|
||||||
Project Quellaveco
|
26,589
|
55,107
|
||||||
Engineering and Construction Works - Morelco S.A.S.
|
8,141
|
17,616
|
||||||
Works and Consortiums
|
64,571
|
17,114
|
||||||
Project Mina Justa
|
12,267
|
14,190
|
||||||
Project Mina Gold Fields La Cima S.A.
|
5,302
|
10,353
|
||||||
Generating Plant Machu Picchu
|
6,575
|
3,488
|
||||||
Civil works, assembly and electromechanics - Acero Arequipa
|
5,421
|
2,428
|
||||||
Civil Works, Assembly and Electromechanics - Toquepala
|
10,325
|
-
|
||||||
Others
|
2,825
|
44,385
|
||||||
228,124
|
331,719
|
|||||||
Real Estate
|
26,072
|
18,056
|
||||||
Parent Company Operation
|
66,094
|
48,072
|
||||||
398,347
|
470,118
|
2019
|
2020
|
|||||||
Infrastructure
|
||||||||
Linea 1 - Metro de Lima
|
13,383
|
13,645
|
||||||
Oil services
|
20,512
|
18,140
|
||||||
Operation and maintenance - Roads
|
18,762
|
31,027
|
||||||
52,657
|
62,812
|
|||||||
Engineering and Construction
|
||||||||
Talara Refinery
|
418,540
|
204,102
|
||||||
Engineering and Construction Works VYV - DSD
|
68,140
|
106,186
|
||||||
Engineering and Construction Works - Morelco SAS
|
34,804
|
84,513
|
||||||
Project Quellaveco
|
24,185
|
42,822
|
||||||
Project Mina Justa
|
19,852
|
33,525
|
||||||
Mina Project of Gold Fields La Cima S.A.
|
15,050
|
12,670
|
||||||
Civil Works, Assembly and Electromechanics - Acero Arequipa
|
17,382
|
5,222
|
||||||
Generating Plant Machu Picchu
|
4,633
|
1,222
|
||||||
Civil Works, Assembly and Electromechanics - Toquepala
|
5,055
|
-
|
||||||
Others
|
71,450
|
34,682
|
||||||
679,091
|
524,944
|
|||||||
Real estate
|
13,573
|
24,509
|
||||||
Parent Company Operation
|
12,795
|
47,034
|
||||||
758,116
|
659,299
|
21 |
OTHER ACCOUNTS PAYABLE
|
Total
|
Current
|
Non-current
|
||||||||||||||||||||||
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||
Advances received from customers (a)
|
307,839
|
309,590
|
270,714
|
278,490
|
37,125
|
31,100
|
||||||||||||||||||
Consorcio Ductos del Sur - payable (b)
|
148,076
|
88,206
|
-
|
28,836
|
148,076
|
59,370
|
||||||||||||||||||
Salaries and other payable
|
92,313
|
77,386
|
92,313
|
77,386
|
-
|
-
|
||||||||||||||||||
Put option liability on Morelco acquisition (Note 32)
|
106,444
|
118,622
|
71,341
|
79,096
|
35,103
|
39,526
|
||||||||||||||||||
Third-party loans
|
11,619
|
11,608
|
9,545
|
9,533
|
2,074
|
2,075
|
||||||||||||||||||
Other taxes payable
|
108,457
|
115,862
|
88,248
|
102,240
|
20,209
|
13,622
|
||||||||||||||||||
Acquisition of additional non-controlling interest (Note 35-a)
|
22,697
|
27,596
|
22,697
|
27,596
|
-
|
-
|
||||||||||||||||||
Guarantee deposits
|
16,445
|
23,744
|
16,445
|
23,744
|
-
|
-
|
||||||||||||||||||
Consorcio Rio Mantaro - payables
|
35,625
|
58,129
|
35,625
|
58,129
|
-
|
-
|
||||||||||||||||||
Provision of interest for debt with suppliers
|
16,055
|
16,425
|
4,326
|
-
|
11,729
|
16,425
|
||||||||||||||||||
Other accounts payables
|
100,394
|
54,468
|
58,420
|
33,356
|
41,974
|
21,112
|
||||||||||||||||||
965,964
|
901,636
|
669,674
|
718,406
|
296,290
|
183,230
|
(a) |
Advances received from customers relate mainly to construction projects, and are discounted from invoicing, in accordance with the terms of the contracts.
|
Total
|
Current
|
Non-current
|
||||||||||||||||||||||
2019
|
2020
|
2019
|
2020
|
2019
|
2020
|
|||||||||||||||||||
Advances Customers Consortiums
|
115,250
|
83,640
|
113,093
|
83,640
|
2,157
|
-
|
||||||||||||||||||
Customer advances for real estate projects
|
66,258
|
78,286
|
66,258
|
78,286
|
-
|
-
|
||||||||||||||||||
Concentradora Norte - Quellaveco
|
64,118
|
86,415
|
44,932
|
71,571
|
19,186
|
14,844
|
||||||||||||||||||
Special National Transportation Infrastructure Project
|
42,030
|
24,050
|
26,534
|
13,781
|
15,496
|
10,269
|
||||||||||||||||||
Others
|
20,183
|
37,199
|
19,897
|
31,212
|
286
|
5,987
|
||||||||||||||||||
307,839
|
309,590
|
270,714
|
278,490
|
37,125
|
31,100
|
(b) |
The other accounts payable of Consorcio Constructor Ductos del Sur correspond to payment obligations to suppliers and the main subcontractors for S/235 million, assumed by the subsidiary GyM S.A; as a result of the termination of GSP
operations.
|
22 |
OTHER PROVISIONS
|
Contingent
|
||||||||||||||||
Legal
|
liabilities
|
Provision
|
||||||||||||||
and tax
|
resulting from
|
for well
|
||||||||||||||
Other provisions
|
claims
|
acquisitions
|
closure
|
Total
|
||||||||||||
84,728
|
4,498
|
20,382
|
109,608
|
|||||||||||||
Additions
|
197,721
|
-
|
30,998
|
228,719
|
||||||||||||
Reversals of provisions
|
(3,122
|
)
|
(4,349
|
)
|
-
|
(7,471
|
)
|
|||||||||
Payments
|
(914
|
)
|
-
|
(1,264
|
)
|
(2,178
|
)
|
|||||||||
Translation adjustments
|
(94
|
)
|
(149
|
)
|
-
|
(243
|
)
|
|||||||||
278,319
|
-
|
50,116
|
328,435
|
|||||||||||||
278,319
|
-
|
50,116
|
328,435
|
|||||||||||||
Additions
|
81,946
|
-
|
4,632
|
86,578
|
||||||||||||
Reversals of provisions
|
(36,827
|
)
|
-
|
-
|
(36,827
|
)
|
||||||||||
Reclasification
|
1,079
|
-
|
-
|
1,079
|
||||||||||||
Payments
|
(7,252
|
)
|
-
|
(1,799
|
)
|
(9,051
|
)
|
|||||||||
Translation adjustments
|
9,366
|
-
|
-
|
9,366
|
||||||||||||
326,631
|
-
|
52,949
|
379,580
|
23 |
EQUITY
|
a) |
Capital
|
Total
|
||||||||
Percentage of individual
|
Number of
|
percentage of
|
||||||
interest in outstanding capital
|
shareholders
|
interest
|
||||||
Up to 1.00
|
1,728
|
13.27
|
%
|
|||||
From 1.01 to 5.00
|
14
|
27.98
|
%
|
|||||
From 5.01 to 10.00
|
2
|
13.38
|
%
|
|||||
Over 10
|
3
|
45.37
|
%
|
|||||
1,747
|
100.00
|
%
|
b) |
Legal reserve
|
c) |
Voluntary reserve
|
d) |
Share premium
|
e) |
Retained earnings
|
At December 31,
|
||||||||
2020
|
||||||||
Deferred income tax asset:
|
||||||||
Reversal expected in the following twelve months
|
37,927
|
44,780
|
||||||
Reversal expected after twelve months
|
233,792
|
217,843
|
||||||
Total deferred tax asset
|
271,719
|
262,623
|
||||||
Deferred income tax liability:
|
||||||||
Reversal expected in the following twelve months
|
(19,791
|
)
|
(1,261
|
)
|
||||
Reversal expected after twelve months
|
(92,943
|
)
|
(101,646
|
)
|
||||
Total deferred tax liability
|
(112,734
|
)
|
(102,907
|
)
|
||||
Deferred income tax asset, net
|
158,985
|
159,716
|
||||||
The gross movement of the deferred income tax item is as follows:
|
||||||||
At December 31,
|
||||||||
2020
|
||||||||
Opening balance
|
365,263
|
158,985
|
||||||
Debit (credit) to income statement (Note 29)
|
(188,509
|
)
|
(4,855
|
)
|
||||
Adjustment for changes in rates of income tax
|
(622
|
)
|
-
|
|||||
IFRIC 23 adoption
|
(986
|
)
|
-
|
|||||
Debit (credit) to equity
|
(3
|
)
|
-
|
|||||
Other movements
|
(16,158
|
)
|
5,586
|
|||||
Final balance
|
158,985
|
159,716
|
Difference in
|
Work
|
Borrowing
|
||||||||||||||||||||||||||||||||||||||
Deferred income
|
depreciation
|
Deferred
|
in
|
Tax
|
costs
|
|||||||||||||||||||||||||||||||||||
tax liabilities
|
rates
|
income
|
process
|
receivable
|
capitalized
|
PPA
|
Others
|
Total
|
||||||||||||||||||||||||||||||||
81,553
|
13,574
|
5,456
|
32,878
|
15,716
|
(1,562
|
)
|
20,745
|
168,360
|
||||||||||||||||||||||||||||||||
(Charge) credit to P&L
|
9,937
|
10,571
|
33,403
|
3,312
|
(780
|
)
|
11,385
|
18,821
|
86,649
|
|||||||||||||||||||||||||||||||
91,490
|
24,145
|
38,859
|
36,190
|
14,936
|
9,823
|
39,566
|
255,009
|
|||||||||||||||||||||||||||||||||
(Charge) credit to P&L
|
(4,565
|
)
|
(8,239
|
)
|
(16,740
|
)
|
2,836
|
172
|
357
|
(18,891
|
)
|
(45,070
|
)
|
|||||||||||||||||||||||||||
Reclassification
|
1,063
|
-
|
(4,916
|
)
|
-
|
-
|
(1,263
|
)
|
2,721
|
(2,395
|
)
|
|||||||||||||||||||||||||||||
87,988
|
15,906
|
17,203
|
39,026
|
15,108
|
8,917
|
23,396
|
207,544
|
|||||||||||||||||||||||||||||||||
Accelerated
|
Accrual for
|
|||||||||||||||||||||||||||||||||||||||
Deferred income
|
tax
|
Tax
|
Work
|
unpaid
|
Tax
|
|||||||||||||||||||||||||||||||||||
tax assets
|
Provisions
|
depreciation
|
losses
|
in process
|
vacations
|
Impairment
|
NIIF 9
|
Goodwill
|
Others
|
Total
|
||||||||||||||||||||||||||||||
42,572
|
921
|
178,289
|
34,005
|
9,782
|
253,767
|
-
|
18,048
|
(3,761
|
)
|
533,623
|
||||||||||||||||||||||||||||||
Charge (credit) to P&L
|
804
|
7,512
|
14,343
|
11,715
|
1,842
|
(205,265
|
)
|
46,804
|
(4,526
|
)
|
24,289
|
(102,482
|
)
|
|||||||||||||||||||||||||||
Charge (credit) to equity
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(3
|
)
|
(3
|
)
|
||||||||||||||||||||||||||||
Sale of subsidiary
|
-
|
-
|
(986
|
)
|
-
|
-
|
-
|
-
|
-
|
-
|
(986
|
)
|
||||||||||||||||||||||||||||
Others
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(16,158
|
)
|
(16,158
|
)
|
||||||||||||||||||||||||||||
43,376
|
8,433
|
191,646
|
45,720
|
11,624
|
48,502
|
46,804
|
13,522
|
4,367
|
413,994
|
|||||||||||||||||||||||||||||||
Charge (credit) to P&L
|
(37,675
|
)
|
374
|
(8,767
|
)
|
(12,298
|
)
|
1,416
|
3,257
|
(10,874
|
)
|
(4,518
|
)
|
19,160
|
(49,925
|
)
|
||||||||||||||||||||||||
Reclassification
|
24,340
|
(1,154
|
)
|
3,616
|
(28,630
|
)
|
-
|
(507
|
)
|
10,067
|
4,989
|
(15,116
|
)
|
(2,395
|
)
|
|||||||||||||||||||||||||
Others
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
5,586
|
5,586
|
||||||||||||||||||||||||||||||
30,041
|
7,653
|
186,495
|
4,792
|
13,040
|
51,252
|
45,997
|
13,993
|
13,997
|
367,260
|
Tax loss
|
||||||||||||
Tax
|
aplication
|
Application
|
Statute of
|
|||||||||
loss
|
method
|
2020
|
2021
|
Forward
|
limitations
|
|||||||
GyM S.A.
|
354,381
|
B
|
41,547
|
2,599
|
310,235
|
- |
||||||
Adexus S.A.
|
149,303
|
N/A
|
-
|
-
|
149,303
|
- | ||||||
Vial y Vives – DSD S.A.
|
103,886
|
N/A
|
-
|
-
|
103,886
|
- | ||||||
Transportadora de Gas Natural
|
15,989
|
B
|
-
|
-
|
15,989
|
- | ||||||
Viva GyM S.A.
|
9,454
|
A
|
-
|
9,454
|
-
|
2022
|
||||||
GyM Chile S.p.A.
|
4,236
|
N/A
|
-
|
-
|
4,236
|
|||||||
GMI S.A.
|
3,052
|
A
|
3,052
|
-
|
-
|
2025
|
||||||
GMP S.A.
|
2,092
|
A
|
-
|
-
|
2,092
|
2025
|
||||||
Survial S.A.
|
1,526
|
B
|
1,526
|
-
|
-
|
- | ||||||
Incolur DSD
|
1,507
|
N/A
|
-
|
-
|
1,507
|
- | ||||||
AENZA S.A.A. (formerly Graña y Montero S.A.A.)
|
1,014
|
A
|
1,014
|
-
|
-
|
2022
|
||||||
Qualys S.A.
|
162
|
A
|
162
|
-
|
-
|
2025
|
||||||
646,602
|
47,301
|
12,053
|
587,248
|
1. |
System A, it is allowed to offset the tax loss in future years up to the following four (4) years from the date the loss is incurred. According to Legislative Decree No. 1481 of May 2020, the application term is extended until five (5)
years with respect to the tax loss generated in fiscal year 2020.
|
2. |
System B. The tax loss may be offset in future years up to 50% of the net rent of each year. This option does not consider a statute of limitations.
|
25 |
WORKERS’ PROFIT SHARING
|
2019
|
2020
|
|||||||
Cost of sales of goods and services
|
4,661
|
2,147
|
||||||
Administrative expenses
|
1,679
|
23
|
||||||
6,340
|
2,170
|
26 |
COSTS AND EXPENSES BY NATURE
|
Cost
|
||||||||||||
of goods
|
Administrative
|
|||||||||||
and services
|
expenses
|
Total
|
||||||||||
2019
|
||||||||||||
Services provided by third-parties
|
1,511,314
|
66,207
|
1,577,521
|
|||||||||
Salaries, wages and fringe benefits (i)
|
1,040,293
|
143,317
|
1,183,610
|
|||||||||
Purchase of goods
|
942,633
|
33
|
942,666
|
|||||||||
Other management charges
|
174,678
|
27,708
|
202,386
|
|||||||||
Depreciation (Note 16.1)
|
108,066
|
4,252
|
112,318
|
|||||||||
Amortization (Note 17.e)
|
94,676
|
4,636
|
99,312
|
|||||||||
Impairment of accounts receivable (ii)
|
4,900
|
-
|
4,900
|
|||||||||
Taxes
|
6,951
|
2,499
|
9,450
|
|||||||||
Impairment of property, plant and equipment
|
3,907
|
-
|
3,907
|
|||||||||
Impairment of investments
|
255
|
-
|
255
|
|||||||||
Inventory recovery
|
(249
|
)
|
-
|
(249
|
)
|
|||||||
3,887,424
|
248,652
|
4,136,076
|
Cost
|
||||||||||||
of goods
|
Administrative
|
|||||||||||
and services
|
expenses
|
Total
|
||||||||||
2020
|
||||||||||||
Services provided by third-parties
|
987,995
|
39,000
|
1,026,995
|
|||||||||
Salaries, wages and fringe benefits (i)
|
1,010,315
|
86,943
|
1,097,258
|
|||||||||
Purchase of goods
|
608,424
|
73
|
608,497
|
|||||||||
Other management charges
|
158,929
|
14,322
|
173,251
|
|||||||||
Depreciation (Note 16.1)
|
90,146
|
8,358
|
98,504
|
|||||||||
Amortization (Note 17.e)
|
94,483
|
4,138
|
98,621
|
|||||||||
Impairment of accounts receivable (ii)
|
32,215
|
4
|
32,219
|
|||||||||
Taxes
|
5,956
|
71
|
6,027
|
|||||||||
Impairment of property, plant and equipment
|
4,950
|
-
|
4,950
|
|||||||||
Impairment of investments
|
38
|
-
|
38
|
|||||||||
Inventory recovery
|
(30
|
)
|
-
|
(30
|
)
|
|||||||
2,993,421
|
152,909
|
3,146,330
|
2019
|
2020
|
|||||||
Salaries
|
853,579
|
814,874
|
||||||
Statutory gratification
|
93,262
|
91,189
|
||||||
Social contributions
|
61,533
|
57,763
|
||||||
Employee’s severance indemnities
|
49,944
|
60,090
|
||||||
Vacations
|
42,025
|
42,135
|
||||||
Workers' profit sharing (Note 25)
|
6,340
|
2,170
|
||||||
Others
|
76,927
|
29,037
|
||||||
1,183,610
|
1,097,258
|
Detail of impairment of accounts receivables:
|
||||||||
2019
|
2020
|
|||||||
Trade accounts receivables
|
955
|
19,772
|
||||||
Other accounts receivable
|
5,704
|
12,318
|
||||||
Accounts receivable from related parties
|
1,524
|
129
|
||||||
8,183
|
32,219
|
27 |
FINANCIAL INCOME AND EXPENSES
|
2019
|
2020
|
|||||||
Financial income:
|
||||||||
Interest on loans to third parties
|
36,876
|
863
|
||||||
Profit for present value of financial asset or financial liability
|
30,408
|
30,545
|
||||||
Interest on short-term bank deposits
|
4,770
|
2,457
|
||||||
Commissions and collaterals
|
535
|
601
|
||||||
Others
|
1,757
|
2,765
|
||||||
74,346
|
37,231
|
|||||||
Financial expenses:
|
||||||||
Interest expense:
|
||||||||
- Bank loans
|
93,019
|
69,420
|
||||||
- Bonds
|
26,113
|
26,771
|
||||||
- Loans from third parties
|
16,275
|
12,612
|
||||||
- Right-of-use
|
5,978
|
4,600
|
||||||
- Financial lease
|
2,218
|
3,139
|
||||||
Commissions and collaterals
|
24,521
|
14,077
|
||||||
Loss for present value of financial asset or financial liability
|
41,131
|
4,552
|
||||||
Exchange difference loss, net
|
32,840
|
5,802
|
||||||
Derivative financial instruments
|
92
|
64
|
||||||
Other financial expenses
|
18,176
|
20,793
|
||||||
Less capitalized interest
|
(7,229
|
)
|
(4,887
|
)
|
||||
253,134
|
156,943
|
28 |
OTHER INCOME AND EXPENSES, NET
|
2019
|
2020
|
|||||||
Other income:
|
||||||||
Sale of assets
|
12,748
|
9,118
|
||||||
Penalty income
|
984
|
1,168
|
||||||
Supplier debt forgiveness
|
19,026
|
14,545
|
||||||
Recovery of provisions and impairments
|
23,279
|
6,501
|
||||||
Trademarks revaluation
|
20,676
|
-
|
||||||
Profit from Mizuho Bank Ltd. agreement (a)
|
89,688
|
-
|
||||||
Others
|
13,384
|
4,272
|
||||||
179,785
|
35,604
|
|||||||
Other expenditures:
|
||||||||
Asset impairment (b)
|
339,774
|
59,440
|
||||||
Civil repair to the Peruvian Government
|
69,150
|
37,109
|
||||||
Net cost of fixed assets disposal
|
23,697
|
8,682
|
||||||
Legal and tax litigation
|
49,754
|
7,673
|
||||||
Renegotiation of contract with suppliers
|
-
|
4,889
|
||||||
Present value of the call option
|
4,697
|
2,326
|
||||||
Provision for well closure
|
4,055
|
112
|
||||||
Administrative fine
|
1,423
|
1,897
|
||||||
Others
|
26,729
|
708
|
||||||
519,279
|
122,836
|
|||||||
(339,494
|
)
|
(87,232
|
)
|
29 |
TAX SITUATION
|
b) | Changes in the Income Tax Law in Colombia - |
c) |
The income tax expense shown in the consolidated statement of income comprises:
|
2019
|
2020
|
|||||||
Current income tax
|
114,240
|
53,134
|
||||||
Deferred income tax (Note 24)
|
189,131
|
4,855
|
||||||
Income tax expense
|
303,371
|
57,989
|
d) |
The Corporation’s income tax differs from the theoretical amount that would have resulted from applying the weighted-average income tax rate applicable to the profit reported by of the consolidated
companies, as follows:
|
2019
|
2020
|
|||||||
Loss before income tax
|
(535,271
|
)
|
(38,475
|
)
|
||||
Income tax by applying local applicable tax
|
||||||||
rates on profit generated in the respective countries
|
(157,744
|
)
|
(10,819
|
)
|
||||
Tax effect on:
|
||||||||
- Reversal of deferred income tax asset
|
174,716
|
7,950
|
||||||
- Non-recoverable item
|
85,301
|
7,275
|
||||||
- Non-deductible expenses
|
84,620
|
27,124
|
||||||
- Unrecognized deferred income tax asset
|
82,424
|
30,058
|
||||||
- Change in prior years estimations
|
36,529
|
2,578
|
||||||
- Provision of tax contingencies
|
7,079
|
(3,421
|
)
|
|||||
- Adjustment for changes in rates of income tax
|
622
|
(240
|
)
|
|||||
- Non-taxable income
|
(1,195
|
)
|
(348
|
)
|
||||
- Equity method (profit) loss
|
(64
|
)
|
226
|
|
||||
- Others
|
(8,917
|
)
|
(2,394
|
)
|
||||
Income tax
|
303,371
|
57,989
|
e) |
The theoretical tax disclosed is the result of applying the income tax rate in accordance with the tax legislation of the country where each company that is
part of the Corporation is domiciled. In this sense, companies domiciled in Peru, Chile, and Colombia applied in 2020 income tax rates of 29.5%, 27% and 32% respectively (29.5%, 27% and 33% for 2019). Norvial S.A., GyM Ferrovias
S.A., Concesionaria Via Expresa Sur S.A. and GMP S.A. (Blocks III and IV) have legal stability contracts signed with the Peruvian Government in force during the term of the associated concessions. Therefore, the consolidated
theoretical amount is obtained from the weighting of the profit or loss before income tax and the applicable income tax rate.
|
Rates
|
Utility
|
|||||||||||
Taxes
|
before the
|
|||||||||||
local
|
Tax
|
Tax
|
||||||||||
Country
|
Applicable
|
to Rent
|
to rent
|
|||||||||
(A)
|
(B)
|
(A)*(B)
|
||||||||||
2019
|
||||||||||||
Peru
|
29.50
|
%
|
(1,612,192
|
)
|
(475,597
|
)
|
||||||
Peru - Norvial S.A.
|
27.00
|
%
|
24,066
|
6,498
|
||||||||
Peru - GyM Ferrovías S.A.
|
30.00
|
%
|
121,080
|
36,324
|
||||||||
Peru - Vía Expresa Sur S.A.
|
30.00
|
%
|
(17,752
|
)
|
(5,326
|
)
|
||||||
Peru - GMP S.A.
|
29.00
|
%
|
35,421
|
10,272
|
||||||||
Chile
|
27.00
|
%
|
(96,360
|
)
|
(26,017
|
)
|
||||||
Colombia
|
33.00
|
%
|
(11,824
|
)
|
(3,902
|
)
|
||||||
Bolivia
|
25.00
|
%
|
681
|
170
|
||||||||
Unrealized gains |
1,021,609
|
299,834
|
||||||||||
(535,271
|
)
|
(157,744
|
)
|
|||||||||
2020
|
||||||||||||
Peru
|
29.50
|
%
|
(88,739
|
)
|
(26,178
|
)
|
||||||
Peru - Norvial S.A.
|
27.00
|
%
|
(2,029
|
)
|
(548
|
)
|
||||||
Peru - GyM Ferrovías S.A.
|
30.00
|
%
|
87,521
|
26,256
|
||||||||
Peru - Vía Expresa Sur S.A.
|
30.00
|
%
|
(11,968
|
)
|
(3,590
|
)
|
||||||
Peru - GMP S.A.
|
29.00
|
%
|
(1,930
|
)
|
(540
|
)
|
||||||
Chile
|
27.00
|
%
|
(14,309
|
)
|
(3,863
|
)
|
||||||
Colombia
|
32.00
|
%
|
(11,178
|
)
|
(3,577
|
)
|
||||||
Bolivia
|
25.00
|
%
|
(13
|
)
|
(3
|
)
|
||||||
Unrealized gains
|
4,170
|
1,224
|
||||||||||
(38,475
|
)
|
(10,819
|
)
|
f) |
Peruvian tax authorities have the right to examine, and, if necessary, amend the income tax determined by the Company in the last four years - from January 1 of the year after
the date when the tax returns are filed (open fiscal year). Therefore, years 2016 through 2020 are subject to examination by the tax authorities. Management considers that no significant liabilities will arise as a result of these
possible tax examinations. Additionally, income tax returns for fiscal years 2017 to 2020 remain open for examination by the Chilean tax authorities who have the right to carry out said examination within the three years
following the date the income tax returns have been filed. Fiscal years 2018, 2019 and 2020 are open for tax audit by Colombian tax authorities. Colombian tax authorities are entitled to audit two consecutive years following the
date the income tax returns were filed.
|
g) |
In accordance with current Peruvian legislation, for purposes of determining income tax and general sales tax, the transfer prices of transactions with related companies and
companies resident in low or no tax territories must be considered, for which purpose documentation and information must be available to support the valuation methods used and the criteria considered for their determination
(transfer pricing rules).. The Tax Administration is authorized to request this information from the taxpayer. Based on the analysis of the Company's operations, Management and its legal advisors estimate that the transfer
prices of transactions with related companies are based on market conditions, similar to those agreed with third parties, as of 31 December 2020.
|
h) |
Temporary tax on net assets (ITAN)
|
i) |
In 2019, certain operations have not been recognized to have impact on income tax such as: additional impairment of investments in GSP (Negocios Gas S.A.) S/67 million, account receivable from the tax authorities
converted to a contingent asset (GyM S.A.) amount to S/7.7 million and write-offs of non-recoverable assets (Concesionaria Via Expresa Sur S.A. and Promotora Larcomar S.A.) equal to S/10.8 million.
|
j) |
The current income tax payable, after applying the corresponding tax credits and whose due date is up to the first week of April of the
following year, includes mainly:
|
- GyM Ferrovias S.A.
|
S/22 million in 2020 and S/7 million in 2019 |
- Consorcio Vial Sierra
|
S/3.4 million in 2020 |
30 |
OTHER COMPREHENSIVE INCOME
|
Exchange |
||||||||||||||||||||
Foreign | Increase in |
difference from |
||||||||||||||||||
currency | fair value of | net investment | ||||||||||||||||||
Cash flow | translations |
available-for | in a foreign | |||||||||||||||||
hedge |
adjustment |
sale assets | operation | Total | ||||||||||||||||
490
|
(63,684
|
)
|
7,461
|
(9,954
|
)
|
(65,687
|
)
|
|||||||||||||
(Charge) credit for the year
|
8
|
(6,892
|
)
|
-
|
-
|
(6,884
|
)
|
|||||||||||||
Tax effects
|
(2
|
)
|
-
|
-
|
-
|
(2
|
)
|
|||||||||||||
Other comprehensive income of the year
|
6
|
(6,892
|
)
|
-
|
-
|
(6,886
|
)
|
|||||||||||||
496
|
(70,576
|
)
|
7,461
|
(9,954
|
)
|
(72,573
|
)
|
|||||||||||||
(Charge) credit for the year
|
(594
|
)
|
8,158
|
-
|
708
|
8,272
|
||||||||||||||
Other comprehensive income of the year
|
(594
|
)
|
8,158
|
-
|
708
|
8,272
|
||||||||||||||
(98
|
) |
(62,418
|
)
|
7,461
|
(9,246
|
)
|
(64,301
|
)
|
2019
|
2020
|
|||||||
Controlling interest
|
(6,886
|
)
|
8,272
|
|||||
Non-controlling interest
|
(1,734
|
)
|
114
|
|||||
Total value in OCI
|
(8,620
|
)
|
8,386
|
31 |
CONTINGENCIES, COMMITMENTS, AND WARRANTIES
|
a) |
Tax contingencies
|
b) |
Other contingencies
|
c) |
Letters bonds and guarantees
|
32 |
BUSINESS COMBINATIONS
|
33 |
DIVIDENDS
|
34 |
LOSS PER SHARE
|
2019
|
2020
|
||||||||
Loss attributable to owners of the Company
|
|||||||||
during the year
|
(884,721
|
)
|
(124,335
|
)
|
|||||
Weighted average number of shares in issue
|
|||||||||
at S/1.00 each, at December 31,
|
822,213,119
|
871,917,855
|
|||||||
Basic loss per share (in S/)
|
(*)
|
(1.076
|
)
|
(0.143
|
)
|
35 |
TRANSACTIONS WITH NON-CONTROLLING INTERESTS
|
a) |
Acquisition of additional non-controlling interest
|
b) |
Contributions (returns) from non-controlling shareholders
|
2019
|
2020
|
|||||||
Viva GyM S.A.
|
||||||||
Contributions received
|
152
|
18
|
||||||
Returns of contributions
|
(33,148
|
)
|
(15,743
|
)
|
||||
Increase (decrease) in equity of non controlling parties
|
(32,996
|
)
|
(15,725
|
)
|
c) |
Dividends
|
36 |
OPERATIONS OF SUBSIDIARY ADEXUS S.A. RECLASSIFIED AS CONTINUING OPERATIONS
|
37 |
EVENTS AFTER THE DATE OF THE STATEMENT OF FINANCIAL POSITION
|
1. |
Issuance of Convertible Bonds
|
2. |
New State of emergency due to COVID
|
This ‘6-K’ Filing | Date | Other Filings | ||
---|---|---|---|---|
1/1/23 | ||||
12/31/22 | ||||
1/1/22 | ||||
3/14/21 | ||||
Filed on: | 3/8/21 | |||
For Period end: | 3/5/21 | |||
2/26/21 | 6-K | |||
2/10/21 | ||||
2/4/21 | ||||
1/22/21 | ||||
1/13/21 | 6-K | |||
12/31/20 | 20-F, NT 20-F | |||
12/28/20 | 6-K | |||
12/23/20 | ||||
11/13/20 | 6-K | |||
11/2/20 | 6-K | |||
9/30/20 | ||||
7/13/20 | 6-K | |||
6/30/20 | ||||
6/1/20 | ||||
5/28/20 | ||||
2/28/20 | ||||
2/11/20 | 6-K, SC 13G/A | |||
1/9/20 | 6-K | |||
1/1/20 | ||||
12/31/19 | 20-F, 20-F/A | |||
12/27/19 | 6-K | |||
11/21/19 | 6-K | |||
11/19/19 | 6-K | |||
11/2/19 | ||||
10/18/19 | ||||
7/31/19 | 6-K | |||
4/30/19 | 20-F, 6-K, NT 20-F | |||
4/2/19 | 6-K | |||
1/1/19 | ||||
12/31/18 | 20-F, NT 20-F | |||
12/21/18 | 6-K, UPLOAD | |||
12/14/18 | 6-K | |||
6/11/18 | 6-K | |||
5/29/18 | ||||
2/14/18 | ||||
12/4/17 | ||||
11/2/17 | 6-K | |||
10/11/17 | 6-K | |||
7/11/17 | ||||
3/31/17 | 6-K | |||
3/30/17 | 6-K | |||
3/2/17 | 6-K | |||
1/24/17 | 6-K | |||
1/9/17 | ||||
12/31/16 | 20-F, 20-F/A, NT 20-F | |||
12/31/14 | 20-F | |||
12/23/14 | 6-K | |||
12/10/14 | 6-K | |||
7/22/14 | ||||
List all Filings |