/s/Dennis Gray Febres | |
Stock Market Representative | |
Graña y Montero S.A.A. |
GRAÑA Y MONTERO S.A.A.
|
|
By: /s/ DENNIS GRAY FEBRES | |
Name: Dennis Gray Febres | |
Title: Stock Market Representative | |
April 28, 2015 |
GRAÑA Y MONTERO S.A.A. AND SUBSIDIARIES
|
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
|
ASSETS
|
LIABILITIES AND EQUITY
|
|||||||||||||||||||||||||
As of March 31,
|
As of March 31,
|
|||||||||||||||||||||||||
Note
|
2014
|
2015
|
Note
|
2014
|
2015
|
|||||||||||||||||||||
Current assets
|
Current liabilities
|
|||||||||||||||||||||||||
Cash and cash equivalents
|
818,402 | 1,016,085 |
Borrowings
|
12 | 1,425,455 | 1,205,305 | ||||||||||||||||||||
Financial asset at fair value through profit or loss | 7,105 | 7,188 |
Bonds
|
13 | - | 26,631 | ||||||||||||||||||||
Trade accounts receivables
|
1,108,345 | 950,677 |
Trade accounts payable
|
1,178,849 | 1,089,844 | |||||||||||||||||||||
Unbilled work in progress
|
1,152,790 | 1,259,340 |
Accounts payable to related parties
|
83,027 | 87,883 | |||||||||||||||||||||
Accounts receivable from related parties
|
9 | 99,061 | 100,416 |
Current income tax
|
89,615 | 161,628 | ||||||||||||||||||||
Other accounts receivable
|
579,654 | 673,330 |
Other accounts payable
|
1,007,743 | 1,049,627 | |||||||||||||||||||||
Inventories
|
833,570 | 847,024 |
Provisions
|
14 | 11,441 | 10,525 | ||||||||||||||||||||
Prepaid expenses
|
26,444 | 30,764 |
Total current liabilities
|
3,796,130 | 3,631,443 | |||||||||||||||||||||
Non-current assets classified as held for sale | 9,513 | 9,059 | ||||||||||||||||||||||||
Total current assets
|
4,634,884 | 4,893,883 |
Non-current liabilities
|
|||||||||||||||||||||||
Borrowings
|
12 | 326,124 | 336,748 | |||||||||||||||||||||||
Non-current assets
|
Long-term bonds
|
- | 585,990 | |||||||||||||||||||||||
Long-term trade accounts receivable
|
579,956 | 577,817 |
Long-term trade accounts payable
|
3,779 | 3,861 | |||||||||||||||||||||
Long-term unbilled work in progress
|
35,971 | 41,545 |
Other long-term accounts payable
|
294,886 | 269,872 | |||||||||||||||||||||
Prepaid expenses
|
9,478 | 5,674 |
Provisions
|
14 | 46,904 | 44,621 | ||||||||||||||||||||
Other long-term accounts receivable
|
44,553 | 44,458 |
Derivative financial instruments
|
2,999 | 3,207 | |||||||||||||||||||||
Available-for-sale financial assets
|
8 | 93,144 | 96,674 |
Deferred income tax liability
|
79,155 | 82,052 | ||||||||||||||||||||
Investments in associates and joint ventures
|
10 | 229,563 | 244,946 |
Total non-current liabilities
|
753,847 | 1,326,351 | ||||||||||||||||||||
Investment property
|
36,244 | 35,862 |
Total liabilities
|
4,549,977 | 4,957,794 | |||||||||||||||||||||
Property, plant and equipment
|
11 | 1,148,651 | 1,157,179 | |||||||||||||||||||||||
Intangible assets
|
11 | 781,454 | 805,413 |
Equity
|
||||||||||||||||||||||
Deferred income tax asset
|
136,001 | 139,635 |
Capital
|
15 | 660,054 | 660,054 | ||||||||||||||||||||
Total non-current assets
|
3,095,015 | 3,149,203 |
Legal reserve
|
132,011 | 132,011 | |||||||||||||||||||||
Optional reserve
|
- | 29,974 | ||||||||||||||||||||||||
Share Premium
|
899,311 | 898,417 | ||||||||||||||||||||||||
Other reserves
|
(113,895 | ) | (117,316 | ) | ||||||||||||||||||||||
Retained earnings
|
1,113,697 | 994,690 | ||||||||||||||||||||||||
Equity attributable to controlling interest in the Company | 2,691,178 | 2,597,830 | ||||||||||||||||||||||||
Non-controlling interest
|
488,744 | 487,462 | ||||||||||||||||||||||||
Total equity
|
3,179,922 | 3,085,292 | ||||||||||||||||||||||||
Total assets
|
7,729,899 | 8,043,086 |
Total liabilities and equity
|
7,729,899 | 8,043,086 | |||||||||||||||||||||
The accompanying notes on pages 8 to 24 are an integral part of the consolidated financial statements.
|
GRAÑA Y MONTERO S.A.A. AND SUBSIDIARIES
|
CONSOLIDATED INCOME STATEMENT
|
For the period of three months ended
|
||||||||||||
March 31,
|
||||||||||||
Note
|
2014
|
2015
|
||||||||||
Revenues from construction activities
|
1,052,620 | 1,241,803 | ||||||||||
Revenues from services provided
|
391,874 | 414,337 | ||||||||||
Revenue from real estate and sale of goods
|
77,753 | 46,830 | ||||||||||
1,522,247 | 1,702,970 | |||||||||||
Cost of construction activities
|
(929,001 | ) | (1,163,086 | ) | ||||||||
Cost of services provided
|
(313,415 | ) | (332,284 | ) | ||||||||
Cost of real estate and goods sold
|
(53,002 | ) | (34,127 | ) | ||||||||
16 | (1,295,418 | ) | (1,529,497 | ) | ||||||||
Gross profit
|
226,829 | 173,473 | ||||||||||
Administrative expenses
|
16 | (96,510 | ) | (108,908 | ) | |||||||
Other income and expenses
|
10,671 | (4,012 | ) | |||||||||
Operating profit
|
140,990 | 60,553 | ||||||||||
Financial expenses
|
(31,184 | ) | (37,246 | ) | ||||||||
Financial income
|
6,946 | 3,738 | ||||||||||
Share of the profit or loss in associates and joint | ||||||||||||
ventures under the equity method of accounting
|
6,114 | 15,002 | ||||||||||
Profit before income tax
|
122,866 | 42,047 | ||||||||||
Income tax
|
17 | (39,762 | ) | (14,077 | ) | |||||||
Profit for the year
|
83,104 | 27,970 | ||||||||||
Profit attributable to:
|
||||||||||||
Owners of the Company
|
70,863 | 17,581 | ||||||||||
Non-controlling interest
|
12,241 | 10,389 | ||||||||||
83,104 | 27,970 | |||||||||||
Earnings per share from continuing operations | ||||||||||||
attributable to owners of the Company during | ||||||||||||
the year
|
0.107 | 0.027 | ||||||||||
The accompanying notes on pages 8 to 24 are an integral part of the consolidated financial statements.
|
GRAÑA Y MONTERO S.A.A. AND SUBSIDIARIES
|
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
|
For the period of three months ended
|
||||||||||||
March 31,
|
||||||||||||
Note
|
2014
|
2015
|
||||||||||
Profit for the year
|
83,104 | 27,970 | ||||||||||
Other comprehensive income:
|
||||||||||||
Items that will not be reclassified to profit or loss
|
||||||||||||
Remeasurement of actuarial gains and losses, net of tax
|
(1,865 | ) | (2,431 | ) | ||||||||
Items that may be subsequently reclassified to profit or loss
|
||||||||||||
Cash flow hedge, net of tax
|
158 | (66 | ) | |||||||||
Foreign currency translation adjustment, net of tax
|
(6,636 | ) | (9,511 | ) | ||||||||
Change in value of available-for-sale financial assets, net of tax | 9 | - | 2,542 | |||||||||
Exchange difference from net investment in a foreign operation, net of tax | - | 158 | ||||||||||
(6,478 | ) | (6,877 | ) | |||||||||
Other comprenhensive income for the year, net of tax
|
(8,343 | ) | (9,308 | ) | ||||||||
Total comprehensive income for the year
|
74,761 | 18,662 | ||||||||||
Comprehensive income attributable to:
|
||||||||||||
Owners of the Company
|
66,221 | 12,457 | ||||||||||
Non-controlling interest
|
8,540 | 6,205 | ||||||||||
74,761 | 18,662 | |||||||||||
The accompanying notes on pages 8 to 24 are an integral part of the consolidated financial statements.
|
Attributable to the controlling interests of the Company
|
||||||||||||||||||||||||||||||||||||||||
Number
|
Premium
|
Other
|
Non- | |||||||||||||||||||||||||||||||||||||
of shares
|
Legal
|
Optional
|
for issuance
|
reserves
|
Retained
|
controlling
|
||||||||||||||||||||||||||||||||||
In thousands
|
Capital
|
reserve
|
reserve
|
of shares
|
earnings
|
Total
|
interest
|
Total
|
||||||||||||||||||||||||||||||||
In thousands
|
||||||||||||||||||||||||||||||||||||||||
Balances as of January 1, 2014
|
660,054 | 660,054 | 111,657 | - | 1,027,533 | 18,423 | 947,433 | 2,765,100 | 431,301 | 3,196,401 | ||||||||||||||||||||||||||||||
Profit for the year
|
- | - | - | - | - | - | 70,863 | 70,863 | 12,241 | 83,104 | ||||||||||||||||||||||||||||||
Cash flow hedge
|
- | - | - | - | - | 150 | - | 150 | 8 | 158 | ||||||||||||||||||||||||||||||
Adjustment for actuarial gains and losses
|
- | - | - | - | - | - | (1,398 | ) | (1,398 | ) | (467 | ) | (1,865 | ) | ||||||||||||||||||||||||||
Foreign currency translation adjustment
|
- | - | - | - | - | (3,394 | ) | - | (3,394 | ) | (3,242 | ) | (6,636 | ) | ||||||||||||||||||||||||||
Comprehensive income of the year
|
- | - | - | - | - | (3,244 | ) | 69,465 | 66,221 | 8,540 | 74,761 | |||||||||||||||||||||||||||||
Transactions with shareholders:
|
||||||||||||||||||||||||||||||||||||||||
- Transfer to legal reserve
|
- | - | 20,354 | - | - | (20,354 | ) | - | - | - | ||||||||||||||||||||||||||||||
- Dividend distribution
|
- | - | - | - | - | (112,127 | ) | (112,127 | ) | (36,128 | ) | (148,255 | ) | |||||||||||||||||||||||||||
- Contributions of non-controlling shareholders
|
- | - | - | - | - | - | - | 21,908 | 21,908 | |||||||||||||||||||||||||||||||
Total transactions with shareholders
|
- | - | 20,354 | - | - | (132,481 | ) | (112,127 | ) | (14,220 | ) | (126,347 | ) | |||||||||||||||||||||||||||
Balances as of March 31, 2014
|
660,054 | 660,054 | 132,011 | 1,027,533 | 15,179 | 884,417 | 2,719,194 | 425,621 | 3,144,815 | |||||||||||||||||||||||||||||||
Balances as of January 1, 2015
|
660,054 | 660,054 | 132,011 | 899,311 | (113,895 | ) | 1,113,697 | 2,691,178 | 488,744 | 3,179,922 | ||||||||||||||||||||||||||||||
Profit for the year
|
- | - | - | - | - | 17,581 | 17,581 | 10,389 | 27,970 | |||||||||||||||||||||||||||||||
Cash flow hedge
|
- | - | - | - | (63 | ) | - | (63 | ) | (3 | ) | (66 | ) | |||||||||||||||||||||||||||
Adjustment for actuarial gains and losses
|
- | - | - | - | - | (1,703 | ) | (1,703 | ) | (728 | ) | (2,431 | ) | |||||||||||||||||||||||||||
Foreign currency translation adjustment
|
- | - | - | - | (6,057 | ) | - | (6,057 | ) | (3,454 | ) | (9,511 | ) | |||||||||||||||||||||||||||
Change in value of available-for-sale financial assets
|
- | - | - | - | 2,542 | - | 2,542 | - | 2,542 | |||||||||||||||||||||||||||||||
Exchange difference from net investment in a foreign operation
|
- | - | - | - | 157 | - | 157 | 1 | 158 | |||||||||||||||||||||||||||||||
Comprehensive income of the year
|
- | - | - | - | (3,421 | ) | 15,878 | 12,457 | 6,205 | 18,662 | ||||||||||||||||||||||||||||||
Transactions with shareholders:
|
||||||||||||||||||||||||||||||||||||||||
- Transfer to Optional reserve
|
- | - | - | 29,974 | - | - | (29,974 | ) | - | - | - | |||||||||||||||||||||||||||||
- Dividend distribution
|
- | - | - | - | - | (104,911 | ) | (104,911 | ) | (2,000 | ) | (106,911 | ) | |||||||||||||||||||||||||||
- Contributions of non-controlling shareholders
|
- | - | - | - | - | - | - | (4,517 | ) | (4,517 | ) | |||||||||||||||||||||||||||||
- Additional acquisition of non-controlling
|
- | - | - | (894 | ) | - | - | (894 | ) | (970 | ) | (1,864 | ) | |||||||||||||||||||||||||||
Total transactions with shareholders
|
- | - | - | 29,974 | (894 | ) | - | (134,885 | ) | (105,805 | ) | (7,487 | ) | (113,292 | ) | |||||||||||||||||||||||||
Balances as of March 31, 2015
|
660,054 | 660,054 | 132,011 | 29,974 | 898,417 | (117,316 | ) | 994,690 | 2,597,830 | 487,462 | 3,085,292 | |||||||||||||||||||||||||||||
The accompanying notes on pages 8 to 24 are an integral part of the consolidated financial statements.
|
For the period of three months ended
|
||||||||||||
March 31,
|
||||||||||||
Note
|
2014
|
2015
|
||||||||||
OPERATING ACTIVITIES
|
||||||||||||
Profit before income tax
|
122,866 | 42,047 | ||||||||||
Adjustments to profit not affecting cash flows from
|
||||||||||||
operating activities:
|
||||||||||||
Depreciation
|
11 | 40,089 | 48,279 | |||||||||
Amortization of other assets
|
11 | 20,230 | 19,892 | |||||||||
Impairment of accounts receivable
|
16 | 194 | ||||||||||
Impairment of other assets
|
2,902 | |||||||||||
Reversal of impairment of inventories
|
16 | (269 | ) | |||||||||
Other Provisions
|
14 | 8,344 | 330 | |||||||||
Share of the profit and loss in associates
|
||||||||||||
under the equity method of accounting
|
10 | (6,114 | ) | (15,002 | ) | |||||||
Reversal of provisions
|
14 | (2,426 | ) | (1,987 | ) | |||||||
Profit on sale of property, plant and equipment
|
(7,060 | ) | (740 | ) | ||||||||
Net variations in assets and liabilities:
|
||||||||||||
Decrease in trade accounts receivable
|
(83,149 | ) | 47,494 | |||||||||
Increase (decrease) in other accounts receivable
|
(49,451 | ) | (92,846 | ) | ||||||||
Decrease in other accounts receivable from related parties
|
3,328 | (1,355 | ) | |||||||||
Decrease in inventories
|
(91,300 | ) | (13,185 | ) | ||||||||
Increase (decrease) in pre-paid expenses and other assets
|
(10,835 | ) | (23,184 | ) | ||||||||
Increase in trade accounts payable
|
(4,823 | ) | (88,744 | ) | ||||||||
Increase (decrease) in other accounts payable
|
127,503 | 19,164 | ||||||||||
Increase (decrease) in other accounts payable to related parties
|
8,046 | 4,856 | ||||||||||
Decrease in other provisions
|
(3,752 | ) | (1,542 | ) | ||||||||
Payments related to Norvial Concession
|
(551 | ) | (27,742 | ) | ||||||||
Payment of income tax
|
(69,507 | ) | (60,708 | ) | ||||||||
Net cash provided by (applied to) operating activities
|
1,438 | (142,146 | ) | |||||||||
INVESTING ACTIVITIES
|
||||||||||||
Sale of property, plant and equipment
|
15,861 | 2,473 | ||||||||||
Dividends received
|
10 | - | 99 | |||||||||
Payment for purchase of available-for-sale investment
|
- | |||||||||||
Payment for purchase of investments properties
|
(935 | ) | (179 | ) | ||||||||
Payments for intangible purchase
|
(4,516 | ) | (5,903 | ) | ||||||||
Payments for purchase and contributions on investment in associate and joint ventures
|
(13,791 | ) | ||||||||||
Direct cash outflow from acquisition of subsidiaries
|
(6,387 | ) | ||||||||||
Payments for property, plant and equipment purchase
|
(41,062 | ) | (57,793 | ) | ||||||||
Net cash applied to investing activities
|
(50,830 | ) | (61,303 | ) | ||||||||
FINANCING ACTIVITIES
|
||||||||||||
Loans received
|
268,151 | 1,444,456 | ||||||||||
Amortization of loans received
|
(302,576 | ) | (1,012,177 | ) | ||||||||
Interest payment
|
(10,471 | ) | (22,764 | ) | ||||||||
Dividends paid to owners of the parent
|
- | |||||||||||
Dividends paid to non-controlling interest
|
(21,397 | ) | (2,000 | ) | ||||||||
Cash received from non-controlling shareholders
|
19,085 | (4,518 | ) | |||||||||
Acquisition or sale of interest in a subsidiary of non-controlling shareholders
|
- | (1,865 | ) | |||||||||
Capital contribution
|
2,823 | |||||||||||
Net cash (applied to) provided by financing activities
|
(44,385 | ) | 401,132 | |||||||||
Net increase (net decrease) in cash
|
(93,777 | ) | 197,683 | |||||||||
Cash decrease in deconsolidation
|
||||||||||||
Cash and cash equivalents at the beginning of the year
|
959,415 | 818,402 | ||||||||||
Cash and cash equivalents at the end of the year
|
865,638 | 1,016,085 | ||||||||||
NON-CASH TRANSACTIONS:
|
||||||||||||
Dividends declared
|
126,858 | 104,911 | ||||||||||
Acquisition of assets through finance leases
|
23,318 | 16,069 | ||||||||||
Change in fair vaue of available-for-sale financial asset
|
3,531 |
1
|
GENERAL INFORMATION
|
2
|
BASIS OF PREPARATION
|
3
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
|
4
|
FINANCIAL RISK MANAGEMENT
|
Less than 1
|
From 1 to
|
From 2 to
|
Over
|
||||||||||||||||
Year
|
2 Years
|
5 years
|
5 years
|
Total
|
|||||||||||||||
At December 31, 2014
|
|||||||||||||||||||
Other financial liabilities (except | |||||||||||||||||||
finance leases)
|
1,318,817 | 72,696 | 56,206 | - | 1,447,719 | ||||||||||||||
Finance leases
|
138,988 | 92,242 | 122,378 | 11,224 | 364,832 | ||||||||||||||
Trade payables
|
1,178,849 | 3,779 | - | - | 1,182,628 | ||||||||||||||
Payables to related parties
|
83,027 | - | - | - | 83,027 | ||||||||||||||
Other payables
|
337,692 | 45,684 | - | - | 383,376 | ||||||||||||||
Other non-financial liabilities | - | 2,999 | - | - | 2,999 | ||||||||||||||
3,057,373 | 217,400 | 178,584 | 11,224 | 3,464,581 |
At March 31, 2015
|
|||||||||||||||||||
Other financial liabilities (except
|
|||||||||||||||||||
finance leases)
|
1,122,541 | 93,488 | 35,327 | - | 1,251,356 | ||||||||||||||
Finance leases
|
117,485 | 129,722 | 92,245 | 17,140 | 356,592 | ||||||||||||||
Bonds payable
|
62,218 | 68,218 | 135,490 | 1,284,918 | 1,550,844 | ||||||||||||||
Trade payables
|
1,089,844 | 3,861 | - | - | 1,093,705 | ||||||||||||||
Payables to related parties
|
87,883 | - | - | - | 87,883 | ||||||||||||||
Other payables
|
509,419 | 56,063 | 37,074 | 754 | 603,310 | ||||||||||||||
Other non-financial liabilities
|
- | 3,207 | - | - | 3,207 | ||||||||||||||
2,989,390 | 354,559 | 300,136 | 1,302,812 | 4,946,897 |
December 31, | March 31, | |||||||
2014 | 2015 | |||||||
Total borrowing
|
1,751,579 | 1,542,053 | ||||||
Less: Cash and cash equivalents
|
(818,402 | ) | (1,016,085 | ) | ||||
Net debt
|
933,177 | 525,968 | ||||||
Total equity
|
3,179,922 | 3,081,879 | ||||||
Total capital
|
4,113,099 | 3,607,847 | ||||||
Gearing ratio
|
0.23 | 0.15 |
5
|
CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS
|
6
|
SEASONALITY OF OPERATIONS
|
7
|
SEGMENT REPORTING
|
(All the amounts are expressed in thousand of S/. unless otherwise stated)
|
UNAUDITED
|
Operating segments financial position
|
Segment reporting
|
Parent
|
||||||||||||||||||||||||||||||||||||||||
Engineering
|
Infrastructure
|
Technical |
Company
|
|||||||||||||||||||||||||||||||||||||
and construction
|
Energy
|
Toll roads
|
Mass transit
|
Water treatment
|
Real estate
|
services
|
Operations
|
Eliminations
|
Consolidated
|
|||||||||||||||||||||||||||||||
As of December 31, 2014
|
||||||||||||||||||||||||||||||||||||||||
Assets.-
|
||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents
|
285,367 | 54,085 | 53,312 | 51,522 | 8,407 | 54,268 | 134,679 | 176,762 | - | 818,402 | ||||||||||||||||||||||||||||||
Financial asset at fair value through profit or loss
|
7,105 | - | - | - | - | - | - | - | - | 7,105 | ||||||||||||||||||||||||||||||
Trade Accounts receivable
|
604,951 | 35,201 | 46,598 | 71,817 | - | 57,584 | 292,160 | 34 | - | 1,108,345 | ||||||||||||||||||||||||||||||
Unbilled work in progress
|
1,136,404 | 1,414 | - | - | 14,972 | - | - | - | - | 1,152,790 | ||||||||||||||||||||||||||||||
Accounts receivable from related parties
|
121,989 | 6,723 | - | 216 | - | 6,561 | 65,242 | 371,765 | (473,435 | ) | 99,061 | |||||||||||||||||||||||||||||
Other accounts receivable
|
384,484 | 10,781 | 9,042 | 29,515 | 3,154 | 11,409 | 63,797 | 66,414 | 1,058 | 579,654 | ||||||||||||||||||||||||||||||
Inventories
|
126,293 | 7,921 | - | 13,909 | - | 630,758 | 55,601 | 486 | (1,398 | ) | 833,570 | |||||||||||||||||||||||||||||
Prepaid expenses
|
11,489 | 891 | 822 | 6,056 | 407 | 235 | 5,119 | 1,425 | - | 26,444 | ||||||||||||||||||||||||||||||
Non-current assets classified as held for sale
|
9,513 | - | - | - | - | - | - | - | - | 9,513 | ||||||||||||||||||||||||||||||
Total Current assets | 2,687,595 | 117,016 | 109,774 | 173,035 | 26,940 | 760,815 | 616,598 | 616,886 | (473,775 | ) | 4,634,884 | |||||||||||||||||||||||||||||
Long-term trade accounts receivable
|
- | - | - | 579,956 | - | - | - | - | - | 579,956 | ||||||||||||||||||||||||||||||
Long-term unbilled work in progress
|
- | 25,387 | 10,584 | - | - | - | - | - | - | 35,971 | ||||||||||||||||||||||||||||||
Long-term trade accounts receivable from related parties
|
- | - | 408 | - | - | - | 433 | 182,548 | (183,389 | ) | - | |||||||||||||||||||||||||||||
Prepaid expenses
|
- | - | 2,416 | 7,062 | - | - | - | - | - | 9,478 | ||||||||||||||||||||||||||||||
Other long-term accounts receivable
|
6,192 | 4,449 | 11,776 | 4,131 | 1,587 | 9,705 | 4,496 | 2,217 | - | 44,553 | ||||||||||||||||||||||||||||||
Available-for-sale financial assets
|
- | 1,058 | - | - | - | - | 2 | 93,144 | (1,060 | ) | 93,144 | |||||||||||||||||||||||||||||
Investments in associates and joint ventures
|
161,938 | 7,316 | - | - | - | 62,863 | 10,059 | 1,729,640 | (1,742,253 | ) | 229,563 | |||||||||||||||||||||||||||||
Investment property
|
- | - | - | - | - | 36,244 | - | - | - | 36,244 | ||||||||||||||||||||||||||||||
Property, plant and equipment
|
652,797 | 193,183 | 2,036 | 14,270 | - | 7,344 | 166,323 | 119,483 | (6,785 | ) | 1,148,651 | |||||||||||||||||||||||||||||
Intangible assets
|
325,943 | 146,477 | 234,923 | 6,247 | 1,100 | 1,187 | 33,508 | 17,417 | 14,652 | 781,454 | ||||||||||||||||||||||||||||||
Deferred income tax asset
|
91,361 | 714 | 4,604 | 244 | - | 9 | 37,557 | 926 | 586 | 136,001 | ||||||||||||||||||||||||||||||
Total non-current assets
|
1,238,231 | 378,584 | 266,747 | 611,910 | 2,687 | 117,352 | 252,378 | 2,145,375 | (1,918,249 | ) | 3,095,015 | |||||||||||||||||||||||||||||
Total assets
|
3,925,826 | 495,600 | 376,521 | 784,945 | 29,627 | 878,167 | 868,976 | 2,762,261 | (2,392,024 | ) | 7,729,899 | |||||||||||||||||||||||||||||
Liabilities.-
|
||||||||||||||||||||||||||||||||||||||||
Borrowings
|
629,584 | 69,577 | 95,902 | 404,915 | - | 144,314 | 80,531 | 632 | - | 1,425,455 | ||||||||||||||||||||||||||||||
Trade accounts payable
|
940,042 | 27,148 | 3,250 | 12,385 | 159 | 31,690 | 155,714 | 8,461 | - | 1,178,849 | ||||||||||||||||||||||||||||||
Accounts payable to related parties
|
89,445 | 1,061 | 55,679 | 278,819 | 24,552 | 24,106 | 82,203 | 12,421 | (485,259 | ) | 83,027 | |||||||||||||||||||||||||||||
Current taxes
|
71,288 | 5,493 | 249 | 32 | 138 | 1,150 | 11,259 | 6 | - | 89,615 | ||||||||||||||||||||||||||||||
Other accounts payable
|
771,127 | 18,518 | 26,076 | 2,308 | - | 65,316 | 101,973 | 22,425 | - | 1,007,743 | ||||||||||||||||||||||||||||||
Provisions
|
- | 8,414 | - | - | - | - | 3,027 | - | - | 11,441 | ||||||||||||||||||||||||||||||
Total current liabilities
|
2,501,486 | 130,211 | 181,156 | 698,459 | 24,849 | 266,576 | 434,707 | 43,945 | (485,259 | ) | 3,796,130 | |||||||||||||||||||||||||||||
Borrowings
|
144,081 | 99,767 | 633 | - | - | 16,368 | 63,070 | 2,205 | - | 326,124 | ||||||||||||||||||||||||||||||
Long-term trade accounts payable
|
- | - | 1,622 | 2,157 | - | - | - | - | - | 3,779 | ||||||||||||||||||||||||||||||
Accounts payables to related parties
|
- | - | - | - | - | 109,126 | 62,522 | - | (171,648 | ) | - | |||||||||||||||||||||||||||||
Other long-term accounts payable
|
214,462 | 349 | 495 | 4,820 | - | 4,679 | 69,201 | 880 | - | 294,886 | ||||||||||||||||||||||||||||||
Provisions
|
26,878 | 5,774 | - | - | - | - | 14,252 | - | - | 46,904 | ||||||||||||||||||||||||||||||
Derivative financial instruments
|
- | 2,999 | - | - | - | - | - | - | - | 2,999 | ||||||||||||||||||||||||||||||
Deferred income tax liability
|
51,556 | 1,331 | - | - | 325 | 8,707 | 7,021 | 10,215 | - | 79,155 | ||||||||||||||||||||||||||||||
Total non-current liabilities
|
436,977 | 110,220 | 2,750 | 6,977 | 325 | 138,880 | 216,066 | 13,300 | (171,648 | ) | 753,847 | |||||||||||||||||||||||||||||
Total liabilities
|
2,938,463 | 240,431 | 183,906 | 705,436 | 25,174 | 405,456 | 650,773 | 57,245 | (656,907 | ) | 4,549,977 | |||||||||||||||||||||||||||||
Equity attributable to controlling interest in the Company
|
817,356 | 236,925 | 150,788 | 59,633 | 4,453 | 157,276 | 128,429 | 2,695,401 | (1,559,083 | ) | 2,691,178 | |||||||||||||||||||||||||||||
Non-controlling interest
|
170,007 | 18,244 | 41,827 | 19,876 | - | 315,435 | 89,774 | 9,615 | (176,034 | ) | 488,744 | |||||||||||||||||||||||||||||
Total liabilities and equity
|
3,925,826 | 495,600 | 376,521 | 784,945 | 29,627 | 878,167 | 868,976 | 2,762,261 | (2,392,024 | ) | 7,729,899 |
(All the amounts are expressed in thousand of S/. unless otherwise stated)
|
UNAUDITED
|
Operating segments financial position
|
Segment reporting
|
Parent
|
||||||||||||||||||||||||||||||||||||||||
Engineering
|
Infrastructure
|
Technical |
Company
|
|||||||||||||||||||||||||||||||||||||
and construction
|
Energy
|
Toll roads
|
Mass transit
|
Water treatment
|
Real estate
|
services
|
Operations
|
Eliminations
|
Consolidated
|
|||||||||||||||||||||||||||||||
As of March 31, 2015
|
||||||||||||||||||||||||||||||||||||||||
Assets.-
|
||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents
|
249,166 | 80,275 | 111,332 | 103,369 | 2,918 | 55,652 | 44,547 | 368,826 | - | 1,016,085 | ||||||||||||||||||||||||||||||
Financial asset at fair value through profit or loss
|
7,188 | - | - | - | - | - | - | - | - | 7,188 | ||||||||||||||||||||||||||||||
Trade Accounts receivable
|
521,272 | 43,042 | 19,681 | 71,894 | - | 50,370 | 244,418 | - | - | 950,677 | ||||||||||||||||||||||||||||||
Unbilled work in progress
|
1,228,958 | 3,294 | - | - | 27,088 | - | - | - | - | 1,259,340 | ||||||||||||||||||||||||||||||
Accounts receivable from related parties
|
126,749 | 1,686 | - | 250 | - | 2,601 | 50,055 | 258,151 | (339,076 | ) | 100,416 | |||||||||||||||||||||||||||||
Other accounts receivable
|
453,520 | 22,309 | 4,874 | 33,583 | 4,681 | 11,160 | 77,109 | 66,091 | 3 | 673,330 | ||||||||||||||||||||||||||||||
Inventories
|
124,214 | 9,164 | - | 14,712 | - | 639,177 | 59,765 | 486 | (494 | ) | 847,024 | |||||||||||||||||||||||||||||
Prepaid expenses
|
12,968 | 1,796 | 390 | 3,587 | 433 | 80 | 10,406 | 1,104 | - | 30,764 | ||||||||||||||||||||||||||||||
Non-current assets classified as held for sale
|
9,059 | - | - | - | - | - | - | - | - | 9,059 | ||||||||||||||||||||||||||||||
Total Current assets
|
2,733,094 | 161,566 | 136,277 | 227,395 | 35,120 | 759,040 | 486,300 | 694,658 | (339,567 | ) | 4,893,883 | |||||||||||||||||||||||||||||
Long-term trade accounts receivable
|
- | - | - | 577,817 | - | - | - | - | - | 577,817 | ||||||||||||||||||||||||||||||
Long-term unbilled work in progress
|
- | 29,635 | 11,910 | - | - | - | - | - | - | 41,545 | ||||||||||||||||||||||||||||||
Long-term trade accounts receivable from related parties
|
- | - | 411 | - | - | - | 453 | 156,489 | (157,353 | ) | - | |||||||||||||||||||||||||||||
Prepaid expenses
|
- | - | 5,674 | - | - | - | - | - | - | 5,674 | ||||||||||||||||||||||||||||||
Other long-term accounts receivable
|
6,192 | 4,784 | 14,270 | 4,154 | 1,589 | 9,668 | 2,098 | 1,703 | - | 44,458 | ||||||||||||||||||||||||||||||
Available-for-sale financial assets
|
- | - | - | - | - | - | 2 | 96,674 | (2 | ) | 96,674 | |||||||||||||||||||||||||||||
Investments in associates and joint ventures
|
165,818 | 7,588 | - | - | - | 67,525 | 10,428 | 1,672,927 | (1,679,340 | ) | 244,946 | |||||||||||||||||||||||||||||
Investment property
|
- | - | - | - | - | 35,862 | - | - | - | 35,862 | ||||||||||||||||||||||||||||||
Property, plant and equipment
|
646,507 | 192,909 | 1,927 | 19,223 | - | 8,883 | 168,707 | 124,713 | (5,690 | ) | 1,157,179 | |||||||||||||||||||||||||||||
Intangible assets
|
321,118 | 148,205 | 259,934 | 6,218 | 1,087 | 1,163 | 35,517 | 17,783 | 14,388 | 805,413 | ||||||||||||||||||||||||||||||
Deferred income tax asset
|
93,451 | 2,146 | 5,290 | - | - | 177 | 37,988 | 989 | (406 | ) | 139,635 | |||||||||||||||||||||||||||||
Total non-current assets
|
1,233,086 | 385,267 | 299,416 | 607,412 | 2,676 | 123,278 | 255,193 | 2,071,278 | (1,828,403 | ) | 3,149,203 | |||||||||||||||||||||||||||||
Total assets
|
3,966,180 | 546,833 | 435,693 | 834,807 | 37,796 | 882,318 | 741,493 | 2,765,936 | (2,167,970 | ) | 8,043,086 | |||||||||||||||||||||||||||||
Liabilities.-
|
||||||||||||||||||||||||||||||||||||||||
Borrowings
|
768,967 | 81,661 | 124,032 | - | 2,501 | 152,787 | 74,713 | 644 | - | 1,205,305 | ||||||||||||||||||||||||||||||
Bonds
|
- | - | - | 26,631 | - | - | - | - | - | 26,631 | ||||||||||||||||||||||||||||||
Trade accounts payable
|
869,015 | 26,725 | 1,237 | 14,595 | 339 | 30,221 | 140,319 | 7,393 | - | 1,089,844 | ||||||||||||||||||||||||||||||
Accounts payable to related parties
|
95,947 | 44,537 | 34,468 | 111,492 | 17,938 | 27,943 | 89,947 | 6,526 | (340,915 | ) | 87,883 | |||||||||||||||||||||||||||||
Current taxes
|
134,717 | 9,458 | 941 | 224 | 157 | 1,391 | 8,451 | 6,289 | - | 161,628 | ||||||||||||||||||||||||||||||
Other accounts payable
|
679,395 | 9,295 | 66,325 | 1,090 | - | 74,415 | 99,718 | 119,390 | (1 | ) | 1,049,628 | |||||||||||||||||||||||||||||
Provisions
|
- | 8,372 | - | - | - | - | 2,153 | - | - | 10,525 | ||||||||||||||||||||||||||||||
Total current liabilities
|
2,548,041 | 180,048 | 227,003 | 154,032 | 20,935 | 286,757 | 415,301 | 140,242 | (340,916 | ) | 3,631,444 | |||||||||||||||||||||||||||||
Borrowings
|
160,433 | 98,759 | 480 | - | - | 19,654 | 55,383 | 2,039 | - | 336,748 | ||||||||||||||||||||||||||||||
Long-term bonds
|
- | - | - | 585,990 | - | - | - | - | - | 585,990 | ||||||||||||||||||||||||||||||
Long-term trade accounts payable
|
- | - | 1,704 | 2,157 | - | - | - | - | - | 3,861 | ||||||||||||||||||||||||||||||
Accounts payables to related parties
|
- | - | - | - | 11,500 | 109,126 | 34,888 | - | (155,514 | ) | - | |||||||||||||||||||||||||||||
Other long-term accounts payable
|
191,138 | - | 494 | 5,739 | - | 4,951 | 66,738 | 812 | - | 269,872 | ||||||||||||||||||||||||||||||
Provisions
|
26,230 | 6,449 | - | - | - | - | 11,942 | - | - | 44,621 | ||||||||||||||||||||||||||||||
Derivative financial instruments
|
- | 3,207 | - | - | - | - | - | - | - | 3,207 | ||||||||||||||||||||||||||||||
Deferred income tax liability
|
52,778 | 2,169 | - | 1,872 | 318 | 8,087 | 4,920 | 11,908 | - | 82,052 | ||||||||||||||||||||||||||||||
Total non-current liabilities
|
430,579 | 110,584 | 2,678 | 595,758 | 11,818 | 141,818 | 173,871 | 14,759 | (155,514 | ) | 1,326,351 | |||||||||||||||||||||||||||||
Total liabilities
|
2,978,620 | 290,632 | 229,681 | 749,790 | 32,753 | 428,575 | 589,172 | 155,001 | (496,430 | ) | 4,957,794 | |||||||||||||||||||||||||||||
Equity attributable to controlling interest in the Company
|
814,273 | 237,691 | 161,215 | 63,764 | 5,043 | 149,856 | 125,585 | 2,601,416 | (1,561,013 | ) | 2,597,830 | |||||||||||||||||||||||||||||
Non-controlling interest
|
173,287 | 18,510 | 44,797 | 21,253 | - | 303,887 | 26,736 | 9,519 | (110,527 | ) | 487,462 | |||||||||||||||||||||||||||||
Total liabilities and equity
|
3,966,180 | 546,833 | 435,693 | 834,807 | 37,796 | 882,318 | 741,493 | 2,765,396 | (2,167,970 | ) | 8,043,086 |
(All amounts are expressed in thousands of S/. unless otherwise stated)
|
UNAUDITED
|
Operating segment performance
|
Segment Reporting
|
Engineering
|
Infrastructure
|
Parent
|
||||||||||||||||||||||||||||||||||||||
and
construction
|
Energy
|
Toll roads
|
Mass
transit
|
Water
treatment
|
Real
estate
|
Technical
services
|
Company
operations
|
Eliminations
|
Consolidated
|
|||||||||||||||||||||||||||||||
For the three-month period
|
||||||||||||||||||||||||||||||||||||||||
ended Mar 31, 2014
|
||||||||||||||||||||||||||||||||||||||||
Revenue
|
1,105,106 | 79,623 | 35,901 | 44,277 | 6,416 | 53,620 | 246,202 | 12,294 | (61,192 | ) | 1,522,247 | |||||||||||||||||||||||||||||
Gross profit
|
140,924 | 29,145 | 14,674 | 15,697 | 523 | 13,143 | 22,604 | (291 | ) | (9,590 | ) | 226,829 | ||||||||||||||||||||||||||||
Administrative expenses
|
(63,159 | ) | (3,914 | ) | (1,635 | ) | (2,004 | ) | (81 | ) | (5,381 | ) | (28,667 | ) | (7,162 | ) | 15,493 | (96,510 | ) | |||||||||||||||||||||
Other income and expenses
|
(1,724 | ) | (461 | ) | 237 | (3,028 | ) | (4 | ) | (347 | ) | 2,650 | 13,961 | (613 | ) | 10,671 | ||||||||||||||||||||||||
Profit before interests
|
||||||||||||||||||||||||||||||||||||||||
and taxes
|
76,041 | 24,770 | 13,276 | 10,665 | 438 | 7,415 | (3,413 | ) | 6,508 | 5,290 | 140,990 | |||||||||||||||||||||||||||||
Financial expenses
|
(18,429 | ) | (1,895 | ) | (6,784 | ) | (2,621 | ) | (11 | ) | (2,068 | ) | (6,134 | ) | (466 | ) | 7,224 | (31,184 | ) | |||||||||||||||||||||
Financial income
|
6,260 | 16 | 570 | 74 | 5 | 27 | 787 | 14,211 | (15,004 | ) | 6,946 | |||||||||||||||||||||||||||||
Share of the profit or loss
|
||||||||||||||||||||||||||||||||||||||||
in associates and joint ventures under the equity
|
||||||||||||||||||||||||||||||||||||||||
method of accounting
|
6,909 | 245 | - | - | - | - | 692 | 55,246 | (56,978 | ) | 6,114 | |||||||||||||||||||||||||||||
Profit before income tax
|
70,781 | 23,136 | 7,062 | 8,118 | 432 | 5,374 | (8,068 | ) | 75,499 | (59,468 | ) | 122,866 | ||||||||||||||||||||||||||||
Income tax
|
(21,563 | ) | (7,193 | ) | (2,278 | ) | (2,945 | ) | (131 | ) | (2,310 | ) | 1,570 | (5,190 | ) | 278 | (39,762 | ) | ||||||||||||||||||||||
Net profit for the period
|
49,218 | 15,943 | 4,784 | 5,173 | 301 | 3,064 | (6,498 | ) | 70,309 | (59,190 | ) | 83,104 | ||||||||||||||||||||||||||||
Profit attributable to:
|
||||||||||||||||||||||||||||||||||||||||
Owners of the Company
|
37,912 | 14,915 | 3,375 | 3,880 | 301 | 683 | (4,081 | ) | 70,450 | (56,572 | ) | 70,863 | ||||||||||||||||||||||||||||
Non-controlling interest
|
11,306 | 1,028 | 1,409 | 1,293 | - | 2,381 | (2,417 | ) | (141 | ) | (2,618 | ) | 12,241 | |||||||||||||||||||||||||||
Net profit for the period
|
49,218 | 15,943 | 4,784 | 5,173 | 301 | 3,064 | (6,498 | ) | 70,309 | (59,190 | ) | 83,104 |
(All amounts are expressed in thousands of S/. unless otherwise stated)
|
UNAUDITED
|
Operating segment performance
|
Segment Reporting
|
Engineering
|
Infrastructure
|
Parent
|
||||||||||||||||||||||||||||||||||||||
and
construction
|
Energy
|
Toll roads
|
Mass
transit
|
Water
treatment
|
Real
estate
|
Technical
services
|
Company
operations
|
Eliminations
|
Consolidated
|
|||||||||||||||||||||||||||||||
For the three-month period
|
||||||||||||||||||||||||||||||||||||||||
ended Mar 31, 2015
|
||||||||||||||||||||||||||||||||||||||||
Revenue
|
1,310,454 | 72,437 | 67,812 | 50,677 | 12,402 | 23,773 | 243,000 | 17,031 | (94,616 | ) | 1,702,970 | |||||||||||||||||||||||||||||
Gross profit
|
106,443 | 10,890 | 14,671 | 12,187 | 908 | 4,625 | 39,939 | (1,696 | ) | (14,494 | ) | 173,473 | ||||||||||||||||||||||||||||
Administrative expenses
|
(69,127 | ) | (3,989 | ) | (2,370 | ) | (3,056 | ) | (69 | ) | (4,726 | ) | (36,014 | ) | (6,798 | ) | 17,241 | (108,908 | ) | |||||||||||||||||||||
Other income and expenses
|
(7,635 | ) | (986 | ) | - | - | - | (591 | ) | 3,719 | 1,614 | (133 | ) | (4,012 | ) | |||||||||||||||||||||||||
Profit before interests
|
||||||||||||||||||||||||||||||||||||||||
and taxes
|
29,681 | 5,915 | 12,301 | 9,131 | 839 | (692 | ) | 7,644 | (6,880 | ) | 2,614 | 60,553 | ||||||||||||||||||||||||||||
Financial expenses
|
(25,521 | ) | (4,936 | ) | (1,276 | ) | (1,240 | ) | (9 | ) | (4,606 | ) | (7,864 | ) | (568 | ) | 8,774 | (37,246 | ) | |||||||||||||||||||||
Financial income
|
3,049 | 58 | 3,128 | 10 | 15 | 52 | 639 | 9,122 | (12,335 | ) | 3,738 | |||||||||||||||||||||||||||||
Share of the profit or loss
|
||||||||||||||||||||||||||||||||||||||||
in associates and joint ventures under the equity
|
||||||||||||||||||||||||||||||||||||||||
method of accounting
|
8,457 | 267 | - | - | - | 4,663 | 332 | 15,581 | (14,298 | ) | 15,002 | |||||||||||||||||||||||||||||
Profit before income tax
|
15,666 | 1,304 | 14,153 | 7,901 | 845 | (583 | ) | 751 | 17,255 | (15,245 | ) | 42,047 | ||||||||||||||||||||||||||||
Income tax
|
(5,708 | ) | (564 | ) | (3,820 | ) | (2,392 | ) | (254 | ) | 154 | (1,226 | ) | (656 | ) | 389 | (14,077 | ) | ||||||||||||||||||||||
Net profit for the period
|
9,958 | 740 | 10,333 | 5,509 | 591 | (429 | ) | (475 | ) | 16,599 | (14,856 | ) | 27,970 | |||||||||||||||||||||||||||
Profit attributable to:
|
||||||||||||||||||||||||||||||||||||||||
Owners of the Company
|
3,944 | 416 | 7,364 | 4,132 | 591 | (131 | ) | (388 | ) | 16,693 | (15,040 | ) | 17,581 | |||||||||||||||||||||||||||
Non-controlling interest
|
6,014 | 324 | 2,969 | 1,377 | - | (298 | ) | (87 | ) | (94 | ) | 184 | 10,389 | |||||||||||||||||||||||||||
Net profit for the period
|
9,958 | 740 | 10,333 | 5,509 | 591 | (429 | ) | (475 | ) | 16,599 | (14,856 | ) | 27,970 |
8
|
AVAILABLE-FOR-SALE FINANCIAL ASSETS
|
9
|
TRANSACTIONS WITH RELATED PARTIES
|
(All amounts are expressed in thousands of S/. unless otherwise stated)
|
UNAUDITED
|
From the period | ||||||||
ended March 31, | ||||||||
2013 | 2014 | |||||||
Revenue from sale of goods and services: | ||||||||
- Associates | - | 1,128 | ||||||
- Joint operations | 10,149 | 10,536 | ||||||
10,149 | 11,664 |
(All amounts are expressed in thousands of S/. unless otherwise stated)
|
UNAUDITED
|
At December 31, |
At March 31,
|
|||||||||||||||
2014
|
|
2015
|
||||||||||||||
Receivable
|
Payable |
Receivable
|
Payable
|
|||||||||||||
Consorcio GyM Conciviles
|
48,581 | - | 51,159 | - | ||||||||||||
Consorcio Peruano de Conservación
|
15,365 | - | 11,427 | - | ||||||||||||
Consorcio Tren Electrico
|
7,380 | - | 6,338 | - | ||||||||||||
Consorcio Terminales
|
6,837 | - | 518 | - | ||||||||||||
Consorcio Rio Urubamba
|
5,107 | 3,796 | 5,512 | 3,351 | ||||||||||||
Consorcio Sistemas SEC
|
4,349 | - | - | - | ||||||||||||
Consorcio La Gloria
|
3,805 | 3,423 | 3,822 | 3,032 | ||||||||||||
Consorcio Constructor Alto Cayma
|
1,424 | - | 122 | - | ||||||||||||
Consorcio JV Panamá
|
1,043 | - | 1,105 | - | ||||||||||||
Consorcio Lima
|
877 | - | 291 | - | ||||||||||||
Consorcio Norte Pachacutec
|
531 | 1,068 | 1087 | 1,015 | ||||||||||||
Consorcio Huacho Pativilca
|
369 | 4,555 | - | 5,268 | ||||||||||||
Consorcio Rios Pallca
|
187 | 282 | 141 | 559 | ||||||||||||
Consorcio Constructor Chavimochic
|
141 | 2,896 | - | 665 | ||||||||||||
Consorcio Alto Cayma
|
121 | 700 | 122 | 690 | ||||||||||||
Consorcio Construcciones y Montajes
|
115 | 1,198 | - | 1,673 | ||||||||||||
Consorcio Vial Quinua
|
116 | 0 | 135 | - | ||||||||||||
Bechtel Vial y Vives Servicios Complementarios Ltd
|
96 | 4,648 | - | 6,305 | ||||||||||||
Consorcio Atocongo | - | 915 | 82 | 300 | ||||||||||||
Consorcio brocal pasco | - | - | - | - |
Consorcio Ingenieria y Construcción Bechtel
|
- | 5,140 | 137 | 62 | |||||||||||
Consorcio Rio Mantaro
|
- | - | 466 | 2603 | |||||||||||
Consorcio Vial Ipacal
|
- | - | - | - | |||||||||||
Consorcio Vial Sullana
|
- | - | - | - | |||||||||||
Consorcio Vial Sur
|
- | - | - | - | |||||||||||
Consorcio EIM ISA
|
- | 2,955 | - | 2,965 | |||||||||||
Ingeniería y Construcción Sigdo Koppers-Vial
|
- | 35,302 | 163 | 38,603 | |||||||||||
Consorcio Lima Actividades Comerciales
|
- | - | 2,922 | 469 | |||||||||||
Terminales del Perú
|
- | - | 1,291 | - | |||||||||||
Consorcio Constructor Alto Cayma
|
- | - | 1,445 | - | |||||||||||
CONSTRUCTORA INCOLUR-DSD LIMITADA
|
- | - | - | 2663 | |||||||||||
Other minor
|
2,617 | 2,056 | 12,131 | 3,214 | |||||||||||
99,061 | 68,934 | 100,416 | 73,437 | ||||||||||||
Other related parties:
|
|||||||||||||||
Ferrovias Argentina
|
- | 14,093 | - | 14,043 | |||||||||||
Besco
|
- | - | - | 403 | |||||||||||
- | 14,093 | - | 14,446 | ||||||||||||
99,061 | 83,027 | 100,416 | 87,883 |
(All amounts are expressed in thousands of S/. unless otherwise stated)
|
UNAUDITED
|
10
|
INVESTMENTS IN ASSOCIATES AND JOINT VENTURES
|
2014
|
2015
|
|||||||
Beginning balance
|
87,967 | 229,563 | ||||||
Acquisition and/or contributions received
|
13,791 | - | ||||||
Share of the profit and loss in associates
|
||||||||
under the equity method of accounting
|
6,114 | 15,002 | ||||||
Dividends received
|
- | (99 | ) | |||||
Other
|
(2,662 | ) | 480 | |||||
Ending balances
|
105,210 | 244,946 |
(All amounts are expressed in thousands of S/. unless otherwise stated)
|
UNAUDITED
|
Property,
plant and
equipment |
Intangible
assets |
|||||||
At January 1, 2014
|
952,906 | 480,885 | ||||||
Additions
|
64,380 | 5,067 | ||||||
Acquisition of subsidiary - net
|
711 | 7,790 | ||||||
Transfers, disposals and adjustments
|
(24,945 | ) | 10,536 | |||||
Deductions for sale of assets
|
(8,800 | ) | - | |||||
Depreciation, amortization
|
(39,565 | ) | (20,230 | ) | ||||
Net cost at March 31, 2014
|
944,687 | 484,048 |
At January 1, 2015
|
1,148,651 | 781,454 | ||||||
Additions
|
73,862 | 33,645 | ||||||
Transfers, disposals and adjustments
|
(16,023 | ) | 10,206 | |||||
Deductions for sale of assets
|
(1,594 | ) | - | |||||
Depreciation, amortization
|
(47,717 | ) | (19,892 | ) | ||||
Net cost at March 31, 2015
|
1,157,179 | 805,413 |
At December | At March | |||||||
|
31, 2014 | 31, 2015 | ||||||
Construction - Engineering
|
138,172 | 138,283 | ||||||
Construction - Mining services
|
13,366 | 13,366 | ||||||
Construction - Electromechanical
|
20,737 | 20,737 | ||||||
IT services
|
4,172 | 4,172 | ||||||
Telecommunications Services
|
6,413 | 6,413 | ||||||
182,860 | 182,971 |
(All amounts are expressed in thousands of S/. unless otherwise stated)
|
UNAUDITED
|
12
|
BORROWINGS
|
Total | Current | Non-current | ||||||||||||||||||||||
At | At | At | At | At | At | |||||||||||||||||||
December | March | December | March | December | March | |||||||||||||||||||
31, 2014 | 31, 2015 | 31, 2014 | 31, 2015 | 31, 2014 | 31, 2015 | |||||||||||||||||||
Bank loans | 1,419,428 | 1,218,002 | 1,300,636 | 1,098,852 | 118,792 | 119,150 | ||||||||||||||||||
Leases | 332,151 | 324,051 | 124,819 | 106,453 | 207,332 | 217,598 | ||||||||||||||||||
1,751,579 | 1,542,053 | 1,425,455 | 1,205,305 | 326,124 | 336,748 |
Carrying amounts
|
Fair value | |||||||||||||||
|
At December | At March | At December | At March | ||||||||||||
31, 2014 | 31, 2015 | 31, 2014 | 31, 2015 | |||||||||||||
Other loans
|
1,751,579 | 1,542,053 | 1,705,843 | 1,506,342 | ||||||||||||
|
1,751,579 | 1,542,053 | 1,705,843 | 1,506,342 |
13
|
BONDS
|
(All amounts are expressed in thousands of S/. unless otherwise stated)
|
UNAUDITED
|
14
|
PROVISIONS
|
|
At December
|
At March
|
||||||
|
31, 2014 | 31, 2015 | ||||||
11,441 | 10,525 | |||||||
Current portion
|
46,904 | 44,621 | ||||||
Non-current portion
|
58,345 | 55,146 |
Contingent
|
Provisions for the
|
Provision
|
Provision
|
|||||||||||||||||||||
Legal |
liabilities from
|
for the acquisition
|
for well
|
for periodic
|
||||||||||||||||||||
Claims |
acquisitions
|
of CAM
|
closure
|
maintenance
|
Total | |||||||||||||||||||
At January 1, 2014
|
12,217 | 9,852 | 21,546 | 4,852 | 3,846 | 52,313 | ||||||||||||||||||
Additions
|
839 | - | - | - | 7,505 | 8,344 | ||||||||||||||||||
Additions from business combinations
|
- | 2,658 | - | - | - | 2,658 | ||||||||||||||||||
Reversals
|
- | (290 | ) | (2,426 | ) | - | (2,716 | ) | ||||||||||||||||
Payments
|
- | - | - | (205 | ) | (3,547 | ) | (3,752 | ) | |||||||||||||||
At March 31, 2014
|
13,056 | 12,220 | 19,120 | 4,647 | 7,804 | 56,847 | ||||||||||||||||||
|
||||||||||||||||||||||||
At January 1, 2015
|
13,056 | 25,927 | 12,152 | 7,210 | - | 58,345 | ||||||||||||||||||
Additions
|
- | - | - | 330 | - | 330 | ||||||||||||||||||
Reversals
|
- | - | (1,987 | ) | - | - | (1,987 | ) | ||||||||||||||||
Payments
|
(1,538 | ) | - | - | (4 | ) | - | (1,542 | ) | |||||||||||||||
At March 31, 2015
|
11,518 | 25,927 | 10,165 | 7,536 | - | 55,146 | ) |
15
|
CAPITAL
|
16
|
EXPENSES BY NATURE
|
Cost of | Adminis- | |||||||
services | trative- | |||||||
and goods | expenses | |||||||
2014 | ||||||||
Purchase of goods | 30,560 | - | ||||||
Personnel charges
|
384,660 | 52,253 | ||||||
Services provided by third-parties
|
511,209 | 33,875 | ||||||
Taxes
|
2,761 | 533 | ||||||
Other management charges
|
146,765 | 5,187 | ||||||
Depreciation
|
36,916 | 3,173 | ||||||
Amortization
|
18,741 | 1,489 | ||||||
Variation of inventories
|
163,806 | - | ||||||
1,295,418 | 96,510 | |||||||
2015 | ||||||||
Purchase of goods | 222,869 | - | ||||||
Personnel charges
|
454,167 | 59,162 | ||||||
Services provided by third-parties
|
634,225 | 29,079 | ||||||
Taxes
|
4,259 | 735 | ||||||
Other management charges
|
165,830 | 13,311 | ||||||
Depreciation
|
44,247 | 4,032 | ||||||
Amortization
|
17,303 | 2,589 | ||||||
Impairment
|
194 | - | ||||||
Reversal of impairment
|
(269 | ) | - | |||||
Variation of inventories
|
(13,328 | ) | - | |||||
1,529,497 | 108,908 |
17
|
INCOME TAX
|
18
|
CONTINGENCIES, COMMITTMENTS AND GUARANTEES
|
19
|
DIVIDENDS
|
20
|
BUSINESS COMBINATIONS
|
a)
|
Acquisition of Coasin Instalaciones Limitada.
|
Previous reported
|
|
Revised | ||||||||||||||
S/.000 | US$000 |
US$000
|
S/.000 | |||||||||||||
|
||||||||||||||||
Cash and cash equivalents
|
3 | 1 | 3 | 1 | ||||||||||||
Trade accounts receivable
|
4,675 | 1,564 | 3,811 | 1,275 | ||||||||||||
Inventories
|
276 | 92 | 276 | 92 | ||||||||||||
Prepaid expenses
|
33 | 11 | 33 | 11 | ||||||||||||
Property, plant and equipment
|
711 | 238 | 711 | 238 | ||||||||||||
Intangibles
|
1,377 | 461 | 1,377 | 461 | ||||||||||||
Deferred income tax
|
(178 | ) | (60 | ) | 16 | 4 | ||||||||||
Trade accounts payable
|
(3,592 | ) | (1,202 | ) | (3,592 | ) | (1,202 | ) | ||||||||
Contingent liabilities
|
(2,658 | ) | (889 | ) | ( 2,658 | ) | (889 | ) | ||||||||
Fair value of net assets
|
647 | 216 | ( 23 | ) | (9 | ) | ||||||||||
|
||||||||||||||||
Goodwill
|
5,743 | 1,921 | 6,413 | 2,146 | ||||||||||||
Total paid for acquisition
|
6,390 | 2,137 | 6,390 | 2,137 | ||||||||||||
Cash payment for the acquisition
|
6,390 | 2,137 | 6,390 | 2,137 | ||||||||||||
Cash and cash equivalent
|
||||||||||||||||
of the acquired subsidiary
|
(3 | ) | (1 | ) | (3 | ) | (1 | ) | ||||||||
Direct cash outflow from acquisition
|
6,387 | 2,136 | 6,387 | 2,136 |
Previous reported | Revised | |||||||||||||||
S/.000 | US$000 | S/.000 | US$000 | |||||||||||||
Cash and cash equivalents
|
15,530 | 5,562 | 15,530 | 5,562 | ||||||||||||
Trade accounts receivable
|
74,502 | 26,684 | 74,317 | 26,618 | ||||||||||||
Accounts receivable from related parties
|
6,605 | 2,366 | 10,083 | 3,611 | ||||||||||||
Prepaid expenses
|
1,032 | 369 | 1,032 | 369 | ||||||||||||
Investments
|
2,608 | 935 | 2,608 | 935 | ||||||||||||
Property, plant and equipment
|
52,504 | 18,805 | 52,922 | 18,955 | ||||||||||||
Intangibles
|
5,741 | 2,056 | 7,591 | 2,719 | ||||||||||||
Deferred income tax
|
2,192 | 785 | 2,192 | 785 | ||||||||||||
Trade accounts payable
|
(5,328 | ) | (1,908 | ) | (5,328 | ) | (1,908 | ) | ||||||||
Other accounts payable
|
(38,679 | ) | (13,854 | ) | (38,679 | ) | (13,854 | ) | ||||||||
Contingent liabilities
|
(815 | ) | (292 | ) | (3,846 | ) | (1,378 | ) | ||||||||
Deferred income tax liability
|
(4,187 | ) | (1,500 | ) | (4,692 | ) | (1,681 | ) | ||||||||
Fair value of net assets
|
111,705 | ) | 40,008 | ) | 113,730 | 40,733 | ||||||||||
Non-controlling interest (14.05%)
|
(15,701 | ) | (5,624 | ) | (15,986 | ) | (5,725 | ) | ||||||||
Goodwill
|
7,868 | 2,802 | 6,128 | 2,178 | ||||||||||||
Total paid for acquisition
|
103,872 | 37,186 | 103,872 | 37,186 | ||||||||||||
Cash payment for the acquisition
|
103,872 | 37,186 | 103,872 | 37,186 | ||||||||||||
Cash and cash equivalent
|
||||||||||||||||
of the acquired subsidiary
|
(15,530 | ) | (5,562 | ) | (15,530 | ) | (5,562 | ) | ||||||||
Direct cash outflow from acquisition
|
88,342 | 31,624 | ) | 88,342 | 31,624 |
20
|
EVENTS AFTER THE DATE OF THE STATEMENT OF FINANCIAL POSITION
|