Cover
Cover | 12 Months Ended |
Dec. 31, 2020shares | |
Cover [Abstract] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Trading Symbol | AENZ |
Entity Registrant Name | AENZA S.A.A. |
Entity Central Index Key | 0001572621 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | No |
Entity Current Reporting Status | No |
Entity Filer Category | Accelerated Filer |
Entity Common Stock, Shares Outstanding | 871,917,855 |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Accounting Standard | IFRS |
Document Annual Report | true |
Document Transition Report | false |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Entity Address, Country | PE |
Document Shell Company Report | false |
Title of 12(b) Security | Common Shares, par value s/1.00 per share |
Security Exchange Name | NYSE |
ICFR Auditor Attestation Flag | true |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets | ||||
Cash and cash equivalents | S/ 900,168 | S/ 950,701 | S/ 807,214 | |
Trade accounts receivables, net | 703,167 | 914,204 | ||
Work in progress, net | 186,433 | 49,457 | ||
Accounts receivable from related parties | 27,338 | 36,658 | ||
Other accounts receivable | 433,531 | 454,474 | ||
Inventories, net | 552,000 | 555,401 | ||
Prepaid expenses | 22,972 | 16,478 | ||
Current assets before non-current assets classified as held for sale | 2,825,609 | 2,977,373 | ||
Non-current assets as held for sale | 2,398 | |||
Total current assets | 2,825,609 | 2,979,771 | ||
Non-current assets | ||||
Trade accounts receivable, net | 730,666 | 779,609 | ||
Work in progress, net | 23,117 | |||
Accounts receivable from related parties | 620,071 | 574,723 | ||
Prepaid expenses | 22,264 | 27,934 | ||
Other accounts receivable | 328,223 | 273,432 | ||
Investments in associates and joint ventures | 35,516 | 37,035 | ||
Investment property | 26,073 | 28,326 | ||
Property, plant and equipment, net | 405,469 | 463,990 | 503,584 | S/ 865,735 |
Intangible assets, net | 791,990 | 854,227 | 868,050 | S/ 940,070 |
Right-of-use assets, net | 64,518 | 90,581 | ||
Deferred income tax asset | 262,165 | 271,719 | ||
Total non-current assets | 3,286,955 | 3,424,693 | 4,310,507 | |
Total assets | 6,112,564 | 6,404,464 | ||
Current liabilities | ||||
Borrowings | 452,884 | 481,529 | ||
Bonds | 58,446 | 44,737 | ||
Trade accounts payable | 1,097,167 | 1,159,075 | ||
Accounts payable to related parties | 43,818 | 38,916 | ||
Current income tax | 34,494 | 51,169 | ||
Other accounts payable | 718,406 | 669,674 | ||
Other provisions | 92,757 | 113,483 | ||
Total current liabilities | 2,497,972 | 2,558,583 | ||
Non-current liabilities | ||||
Borrowings | 445,436 | 409,066 | ||
Bonds | 874,313 | 879,305 | ||
Trade accounts payable | 40,502 | 34,814 | ||
Other accounts payable | 183,232 | 296,290 | ||
Accounts payable to related parties | 36,297 | 22,583 | ||
Other provisions | 336,609 | 214,952 | ||
Derivative financial instruments | 52 | |||
Deferred income tax liability | 102,907 | 112,734 | ||
Total non-current liabilities | 2,019,296 | 1,969,796 | ||
Total liabilities | 4,517,268 | 4,528,379 | ||
Equity | ||||
Capital | 871,918 | 871,918 | ||
Legal reserve | 132,011 | 132,011 | ||
Voluntary reserve | 29,974 | 29,974 | ||
Share Premium | 1,131,574 | 1,132,179 | ||
Other reserves | (169,234) | (177,506) | ||
Retained earnings | (728,637) | (510,766) | ||
Equity attributable to controlling interest in the Company | 1,267,606 | 1,477,810 | ||
Non-controlling interest | 327,690 | 398,275 | ||
Total equity | 1,595,296 | 1,876,085 | S/ 2,489,931 | |
Total liabilities and equity | S/ 6,112,564 | S/ 6,404,464 |
Consolidated Statement of Incom
Consolidated Statement of Income - PEN (S/) S/ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Profit or loss [abstract] | ||||
Revenues from construction activities | S/ 1,815,671 | S/ 2,411,880 | S/ 1,961,100 | |
Revenues from services provided | 1,055,423 | 1,254,059 | 1,089,315 | |
Revenue from real estate and sale of goods | 442,935 | 671,922 | 1,151,983 | |
Revenue | 3,314,029 | 4,337,861 | 4,202,398 | |
Cost of construction activities | (1,716,309) | (2,351,563) | (1,921,112) | |
Cost of services provided | (929,206) | (1,035,251) | (906,953) | |
Cost of real estate and sale of goods | (347,906) | (500,610) | (660,363) | |
Cost of sales | (2,993,421) | (3,887,424) | (3,488,428) | |
Gross profit | 320,608 | 450,437 | 713,970 | |
Administrative expenses | (152,909) | (248,652) | (311,163) | |
Other income and expenses | (182,846) | (339,494) | (65,854) | |
Loss from the sale of investments | (7) | |||
Operating profit (loss) | (15,147) | (137,709) | 336,946 | |
Financial expenses | (156,943) | (253,134) | (260,768) | |
Financial income | 39,420 | 74,346 | 51,536 | |
Share of the profit or loss of associates and joint ventures accounted for using the equity method | 770 | (218,774) | (3,709) | |
Profit (loss) before income tax | (131,900) | (535,271) | 124,005 | |
Income tax expense | (58,444) | (303,371) | (110,993) | |
Profit (loss) from continuing operations | (190,344) | (838,642) | 13,012 | |
Profit from discontinued operations | 44,403 | |||
Profit (loss) for the year | (190,344) | (838,642) | 57,415 | |
Profit (loss) attributable to: | ||||
Owners of the Company | (217,871) | (884,721) | (83,188) | |
Non-controlling interest | 27,527 | 46,079 | 140,603 | |
Profit (loss) for the year | S/ (190,344) | S/ (838,642) | S/ 57,415 | |
Loss per share attributable to owners of the Company during the year | [1] | S/ (0.250) | S/ (1.076) | S/ (0.125) |
Loss per share from continuing operations attributable to owners of the Company during the year | S/ (0.250) | S/ (1.076) | S/ (0.110) | |
[1] | The Corporation does not have common shares with dilutive effects As of December 31, 2018, 2019 and 2020. |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of comprehensive income [abstract] | |||
Profit (loss) for the year | S/ (190,344) | S/ (838,642) | S/ 57,415 |
Items that will not be reclassified to profit or loss | |||
Remeasurement of actuarial gains and losses, net of tax | 16,589 | ||
Items that may be subsequently reclassified to profit or loss | |||
Cash flow hedge, net of tax | (626) | 6 | 119 |
Foreign currency translation adjustment, net of tax | 8,304 | (8,170) | 5,733 |
Exchange difference from net investment in a foreign operation, net of tax | 708 | (456) | (8,147) |
Items that may be subsequently reclassified to profit or loss | 8,386 | (8,620) | (2,295) |
Other comprehensive income for the year, net of tax | 8,386 | (8,620) | 14,294 |
Total comprehensive income for the year | (181,958) | (847,262) | 71,709 |
Comprehensive income attributable to: | |||
Owners of the Company | (209,599) | (891,607) | (67,548) |
Non-controlling interest | 27,641 | 44,345 | 139,257 |
Total comprehensive income for the year | S/ (181,958) | S/ (847,262) | S/ 71,709 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - PEN (S/) shares in Thousands, S/ in Thousands | Total | CAM Group [member] | Stracon GyM S.A. [member] | Issued capital [member] | Legal reserve [member] | Voluntary reserve [member] | Share premium [member] | Other reserves [member] | Retained earnings [member] | Retained earnings [member]CAM Group [member] | Retained earnings [member]Stracon GyM S.A. [member] | Equity attributable to owners of parent [member] | Equity attributable to owners of parent [member]CAM Group [member] | Non-controlling interests [member] | Non-controlling interests [member]CAM Group [member] | Non-controlling interests [member]Stracon GyM S.A. [member] |
Beginning balance, shares (Previously stated [member]) at Dec. 31, 2017 | 660,054 | |||||||||||||||
Beginning balance, shares (Restated balance [member]) at Dec. 31, 2017 | 660,054 | |||||||||||||||
Beginning balance (Previously stated [member]) at Dec. 31, 2017 | S/ 2,589,078 | S/ 660,054 | S/ 132,011 | S/ 29,974 | S/ 881,795 | S/ (169,671) | S/ 589,167 | S/ 2,123,330 | S/ 465,748 | |||||||
Beginning balance (Increase (decrease) due to changes in accounting policy required by IFRSs [member]) at Dec. 31, 2017 | (53,543) | (52,564) | (52,564) | (979) | ||||||||||||
Beginning balance (Restated balance [member]) at Dec. 31, 2017 | 2,535,535 | 660,054 | 132,011 | 29,974 | 881,795 | (169,671) | 536,603 | 2,070,766 | 464,769 | |||||||
Statement [line items] | ||||||||||||||||
(Loss) profit for the year | Previously stated [member] | 57,415 | |||||||||||||||
(Loss) profit for the year | 57,415 | (83,188) | (83,188) | 140,603 | ||||||||||||
Cash flow hedge | 119 | 113 | 113 | 6 | ||||||||||||
Adjustment for actuarial gains and losses | 16,589 | 16,589 | 16,589 | |||||||||||||
Foreign currency translation adjustment | 5,733 | 6,930 | 6,930 | (1,197) | ||||||||||||
Exchange difference from net investment in a foreign operation | (8,147) | (7,992) | (7,992) | (155) | ||||||||||||
Total comprehensive income for the year | 71,709 | (949) | (66,599) | (67,548) | 139,257 | |||||||||||
- Dividend distribution | (102,772) | (102,772) | ||||||||||||||
- Contributions (devolution) of non-controlling shareholders, net | (84,442) | (84,442) | ||||||||||||||
- Additional acquisition of non-controlling interest | (13,633) | (9,583) | (9,583) | (4,050) | ||||||||||||
- Capital Increase | 137,603 | S/ 69,380 | 68,223 | 137,603 | ||||||||||||
- Capital Increase, shares | 69,380 | |||||||||||||||
- Deconsolidation of former subsidiary | S/ (24,657) | S/ (29,412) | 51,709 | S/ (42,878) | S/ (51,709) | S/ (42,878) | S/ 18,221 | S/ (29,412) | ||||||||
Total transactions with shareholders | (117,313) | S/ 69,380 | 110,349 | (94,587) | 85,142 | (202,455) | ||||||||||
Total transactions with shareholders, shares | 69,380 | |||||||||||||||
Ending balance, shares (Previously stated [member]) at Dec. 31, 2018 | 729,434 | |||||||||||||||
Ending balance, shares (Restated balance [member]) at Dec. 31, 2018 | 729,434 | |||||||||||||||
Ending balance, shares at Dec. 31, 2018 | 729,434 | |||||||||||||||
Ending balance (Previously stated [member]) at Dec. 31, 2018 | 2,489,931 | S/ 729,434 | 132,011 | 29,974 | 992,144 | (170,620) | 375,417 | 2,088,360 | 401,571 | |||||||
Ending balance (Increase (decrease) due to changes in accounting policy required by IFRSs [member]) at Dec. 31, 2018 | (1,462) | (1,462) | (1,462) | |||||||||||||
Ending balance (Restated balance [member]) at Dec. 31, 2018 | 2,488,469 | 729,434 | 132,011 | 29,974 | 992,144 | (170,620) | 373,955 | 2,086,898 | 401,571 | |||||||
Ending balance at Dec. 31, 2018 | 2,489,931 | 729,434 | 132,011 | 29,974 | 992,144 | (170,620) | 375,417 | 2,088,360 | 401,571 | |||||||
Statement [line items] | ||||||||||||||||
(Loss) profit for the year | Previously stated [member] | (838,642) | |||||||||||||||
(Loss) profit for the year | (838,642) | (884,721) | (884,721) | 46,079 | ||||||||||||
Cash flow hedge | 6 | 6 | 6 | |||||||||||||
Foreign currency translation adjustment | (8,170) | (6,440) | (6,440) | (1,730) | ||||||||||||
Exchange difference from net investment in a foreign operation | (456) | (452) | (452) | (4) | ||||||||||||
Total comprehensive income for the year | (847,262) | (6,886) | (884,721) | (891,607) | 44,345 | |||||||||||
- Dividend distribution | (12,762) | (12,762) | ||||||||||||||
- Contributions (devolution) of non-controlling shareholders, net | (32,996) | (32,996) | ||||||||||||||
- Additional acquisition of non-controlling interest | 1,883 | 1,883 | (1,883) | |||||||||||||
- Capital Increase | 280,636 | S/ 142,484 | 138,152 | 280,636 | ||||||||||||
- Capital Increase, shares | 142,484 | |||||||||||||||
Total transactions with shareholders | 234,878 | S/ 142,484 | 140,035 | 282,519 | (47,641) | |||||||||||
Total transactions with shareholders, shares | 142,484 | |||||||||||||||
Ending balance, shares at Dec. 31, 2019 | 871,918 | |||||||||||||||
Ending balance at Dec. 31, 2019 | 1,876,085 | S/ 871,918 | 132,011 | 29,974 | 1,132,179 | (177,506) | (510,766) | 1,477,810 | 398,275 | |||||||
Statement [line items] | ||||||||||||||||
(Loss) profit for the year | (190,344) | (217,871) | (217,871) | 27,527 | ||||||||||||
Cash flow hedge | (626) | (594) | (594) | (32) | ||||||||||||
Foreign currency translation adjustment | 8,304 | 8,158 | 8,158 | 146 | ||||||||||||
Exchange difference from net investment in a foreign operation | 708 | 708 | 708 | |||||||||||||
Total comprehensive income for the year | (181,958) | 8,272 | (217,871) | (209,599) | 27,641 | |||||||||||
- Dividend distribution | (82,412) | (82,412) | ||||||||||||||
- Contributions (devolution) of non-controlling shareholders, net | (15,725) | (15,725) | ||||||||||||||
- Additional acquisition of non-controlling interest | (694) | (605) | (605) | (89) | ||||||||||||
Total transactions with shareholders | (98,831) | (605) | (605) | (98,226) | ||||||||||||
Ending balance, shares at Dec. 31, 2020 | 871,918 | |||||||||||||||
Ending balance at Dec. 31, 2020 | S/ 1,595,296 | S/ 871,918 | S/ 132,011 | S/ 29,974 | S/ 1,131,574 | S/ (169,234) | S/ (728,637) | S/ 1,267,606 | S/ 327,690 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
OPERATING ACTIVITIES | |||
Profit (loss) before income tax | S/ (131,900) | S/ (535,271) | S/ 168,408 |
Adjustments to profit not affecting cash flows from operating activities: | |||
Depreciation | 98,504 | 112,318 | 125,419 |
Amortization | 98,621 | 107,499 | 112,072 |
Impairment of inventories | 791 | 4,503 | |
Impairment of accounts receivable and other accounts receivable | 134,964 | 290,491 | 65,076 |
Reversal of impairment of inventories | (821) | (4,752) | (26,993) |
Debt condonation | (9,451) | (18,186) | |
Impairment of property, plant and equipment | 20,018 | 5,664 | |
Impairment of intangible assets | 45,821 | ||
Reversal of impairment of accounts receivable | (19,448) | ||
Reversal of impairment of intangible assets | (20,676) | ||
Indemnification | 686 | ||
Change in the fair value of the liability for put option | 245 | 4,697 | (6,122) |
Other provisions | 126,896 | 186,894 | 75,369 |
Financial expense, net | 225,212 | 167,872 | 177,649 |
Impairment of investment | 38 | 384 | |
Incremental cost accrued | 8,875 | ||
Share of the profit and loss of associates and joint ventures accounted for using the equity method | (770) | 218,774 | 3,709 |
Reversal of provisions | (33,264) | (7,471) | (6,218) |
Disposal (reversal) of assets | 8,895 | 349 | 16,327 |
Profit on sale of property, plant and equipment | (2,322) | (11,892) | 7,105 |
Loss on sale from available-for-sale financial assets | 1,529 | ||
Profit on sale of investments in subsidiaries | (73,642) | ||
Profit on remeasurement of accounts receivable | (25,888) | 45,363 | 25,110 |
Net variations in assets and liabilities: | |||
Trade accounts receivable and working in progress | 131,674 | 457,709 | (236,011) |
Other accounts receivable | (46,117) | 148,833 | 190,354 |
Other accounts receivable from related parties | (20,641) | (11,178) | 24,609 |
Inventories | 22,578 | (34,091) | 200,575 |
Pre-paid expenses and other assets | (823) | 4,964 | 18,309 |
Trade accounts payable | (42,062) | 58,973 | 10,917 |
Other accounts payable | (58,011) | (292,184) | (311,848) |
Other accounts payable to related parties | 3,591 | (24,461) | 92,613 |
Other provisions | (9,051) | (1,134) | (6,615) |
Interest payment | (137,369) | (172,377) | (188,704) |
Payments for purchases of intangibles - Concessions | (3,519) | (25,917) | (10,305) |
Payment of income tax | (112,851) | (94,669) | (175,769) |
Net cash provided by operating activities | 226,024 | 601,755 | 279,273 |
INVESTING ACTIVITIES | |||
Sale of investment | 229,045 | ||
Sale of property, plant and equipment | 9,118 | 18,607 | 31,852 |
Sale of non-current assets held for sale, net | 16,244 | ||
Interest received | 4,292 | 6,552 | 36,508 |
Dividends received | 2,318 | 1,517 | 1,823 |
Payment for purchase of investments properties | (98) | (88) | (209) |
Payments for intangible purchase | (46,767) | (84,201) | (86,799) |
Payments for purchase and contributions on investment in associate and joint ventures | (3,770) | ||
Payments for property, plant and equipment purchase | (33,596) | (93,017) | (80,765) |
Net cash applied to investing activities | (64,733) | (150,630) | 143,929 |
FINANCING ACTIVITIES | |||
Loans received | 185,644 | 644,312 | 1,018,744 |
Amortization of loans received | (275,163) | (1,130,301) | (1,265,920) |
Amortization of bonds issued | (37,981) | (31,335) | (28,914) |
Payment for transaction costs for debt | 0 | (4,770) | 0 |
Dividends paid to non-controlling interest | (82,412) | (12,762) | (102,772) |
Cash received (return of contributions) from non-controlling shareholders | (15,725) | (32,996) | (59,053) |
Capital increase | 0 | 280,636 | 137,603 |
Acquisition or sale of interest in a subsidiary of non-controlling shareholders | 389 | ||
Net cash applied to financing activities | (225,637) | (287,216) | (299,923) |
Net increase (net decrease) in cash | (64,346) | 163,909 | 123,279 |
Exchange difference | 13,813 | (20,303) | 57,756 |
Cash and cash equivalents at the beginning of the year | 950,701 | 807,095 | 626,060 |
Cash and cash equivalents at the end of the year | 900,168 | 950,701 | 807,095 |
NON-CASH TRANSACTIONS: | |||
Capitalization of interests | 4,887 | 7,229 | 3,361 |
Acquisition of assets through finance leases | 71 | 3,851 | 2,365 |
Accounts payable to the non-controlling interest for purchase of investments | 14,022 | ||
Return of contribution in inventories | 25,389 | ||
Acquisition of right-of-use assets | 12,075 | 101,745 | 0 |
Deconsolidation from non-controlling interest | 0 | S/ 0 | S/ 54,069 |
Reclassification to other accounts receivable by Concesionaria Vía Expresa Sur | 24,157 | ||
Acquisition of supplier bonds | S/ 25,871 |
General Information
General Information | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
General Information | 1 GENERAL INFORMATION a) Incorporation and operations AENZA S.A.A., Graña y Montero S.A.A. spin-off The Company is the parent of the AENZA Corporation that includes the Company and its subsidiaries (hereinafter, the “Corporation”) and is mainly engaged in holding investments in Corporation companies. In addition, the Company provides strategic and functional services and office leases to the companies of the Corporation. The General Shareholder’s Meeting on November 2, 2020 approved the modification of the Company’s name from Graña y Montero S.A.A. to AENZA S.A.A., which is effective as of February 4, 2021. The Corporation is a conglomerate of companies whose operations encompass different business activities where, the most significant are engineering and construction, infrastructure (public concession ownership and operation) and real estate businesss. See details of operating segments in Note 7. b) Authorization for the issue of the financial statements The consolidated financial statements for the year ended December 31, 2020, have been prepared and issued with authorization of Management and the Board of Directors’ on March 5, 2021, and were approved on the General Shareholders’ Meeting hold on March 31, 2021. Since the date of approval of the financial statements by our shareholders until the date hereof, subsequent events with material impact on our results have occurred and as a result, we have recorded such impacts herein. For example, we have made considerable progress in the negotiations of the Company’s plea bargain agreement that has allowed us to reassess our estimate of our exposure to the contingencies including within its scope. The consolidated financial statements for the year ended December 31, 2019 were approved on the Annual General Mandatory Shareholder’s Meeting on July 13, 2020. c) Current situation of the Company The Corporation is involved in a series of criminal investigations conducted by the Public Ministry and administrative proceedings conducted by INDECOPI based on events that mainly occurred between years 2003 and 2015. Such situations led to significant changes at Corporation’s corporate governance structure, the opening of independent investigations and the adoption of measures to address and clarify these situations, as explained below: • 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 Chief Executive Officer was appointed and on March 31, 2017, the shareholders appointed a new Board of Directors with an independent majority, all non-executive • 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 an external law firm with the assistance of forensic accountants, who reported exclusively to the Risk and Compliance Committee. • The external investigation concluded on November 2, 2017 and identified no evidence to conclude that any company personnel engaged in bribery in connection with any of our company’s public projects in Peru with Odebrecht or its subsidiaries, or that any company personnel was aware of, or knowingly participated in, any corrupt payments made in relation to such projects. • 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 prior investigation. 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 commitment to transparency and integrity. • 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 Director’s, 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 or 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 the conclusions. • 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. • The outbreak of the Covid-19 pandemic in Peru suspended the negotiations of the plea bargain agreement in March 2020 and such negotiations discussions resumed in July 2020. The Company has made substantial progress in the negotiations and expects to execute an agreements soon which will then be submitted to judicial approval. • 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. Criminal investigations derived from projects developed in partnership with companies of the Odebrecht Group In connection with the Lava Jato case, the Company participated as a minority partner of Odebrecht Group companies, directly or through its subsidiaries, in entities or consortiums that developed six infrastructure projects. In 2016, Odebrecht entered into an Agreement with the United States Department of Justice and the Office of the District Attorney for the Eastern District of New York by which it admitted corruption acts in connection with some of these projects in which the Company participate as minority partner, which are mentioned below: • 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, AENZA S.A.A. and Cumbra Peru S.A. (formerly 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 Government 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 Cumbra Peru 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. • Gasoducto Sur Peruano (GSP) In year 2019, the Company concluded that it may have exposure with respect to the preliminary investigation process conducted in relation to GSP (the South Peruvian Gas Pipeline project). As of the date hereof, the Company has not been indicted or incorporated as a civilly liable third-party or as an investigated legal person. • IIRSA Norte Subsequently, in 2020, the Company and its legal advisors concluded that there is exposure to the preliminary investigation process conducted in relation to the IIRSA Norte project. To date, the Company has not been incorporated either as a responsible civil third party or as an investigated legal person. Criminal investigations in relation to the Construction Club case Cumbra Peru S.A. has been incorporated, along with other construction companies, as a legal entity investigated in the criminal investigation that the Public Ministry has been carrying out for the alleged crime of corruption of officials in relation to the so-called Anticorruption Law - effects on the Corporation Law 30737 and its regulation issued by Supreme Decree 096-2018-EF In the case of the Company and its subsidiary Cumbra Peru, the benefits of the mentioned rules are subject to the fulfillment of the following obligations as a consequence of the association with Odebrecht in the IRSA Sur and construction of the Electric train construction Project, tranches 1 and 2: • 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. The Corporation has designed a compliance program which is currently under implementation, it fully cooperates with the authorities in its investigations and has executed a trust agreement with the Ministry of Justice, under which the Company has established for an approximate amount of S/72 million (equivalent to US$20 million). In 2020, the Company was included in the framework of Law 30737 for the IIRSA Norte and Chavimochic. However, the Company has been in contact with the Ministry of Justice in order to clarify this information, given that the incorporation of the Company in the Category 2 is not in accordance with the provisions set forth in the law. Based on the standards indicated and their guidelines, It is estimated that the value of the contingencies related to Odebrecht and the Construction Club described above is S/469.7 million (US$129.6 million) and was recorded at December 31, 2020 the equivalent to the corresponding present value that results in S/216 million (equivalent to US$59.6 million). On the other hand, in addition to the cases where a provision for civil reparation has been recorded, there is a project carried out in partnership with Odebrecht that to date is not under investigation. If this is started and some evidence is found, the maximum possible exposure for civil reparation estimated according to Law 30737 for the project would be S/9.6 million (approximately US$2.6 million). As of the date hereof, the negotiations of the agreement are advanced and the Company expects the agreement to impose an obligation to pay damages in an amount that should not deviate materially from the amount estimated in the financial statements and, in addition, a temporary prohibition from contracting with the government. Although we expect to execute a final settlement and cooperation agreement soon, we cannot assure you that an agreement will be reached in a timely manner or at all, and in case an agreement is reached, we can not assure you that it will not contain terms and conditions that are substantially more onerous to the Company that we have foreseen. In addition, any agreement would be subject to further approval by the Peruvian court. Investigations and administrative process initiated by INDECOPI in relation to the Construction Club case On July 11, 2017, the Peruvian National Institute for the Defense of Free Competition and the Protection of Intellectual Property (“INDECOPI”) initiated an investigation against several construction companies (including Cumbra Peru S.A.), about the existence of an alleged cartel called the Construction Club. Cumbra Peru S.A. has provided to INDECOPI with all the information requested and continues collaborating with the investigation. On February 11, 2020, the subsidiary Cumbra Peru S.A. was notified by the Technical Secretariat of the Commission for the Defense of Free Competition of INDECOPI with the resolution that begins a sanctioning administrative procedure involving a total of 35 companies and 28 natural persons, for alleged anticompetitive conduct in the market of Public Works. The resolution does not include the assignment of responsibilities or the result of the administrative sanctioning procedure, which will be determined at the end of said procedure. The proceeding has concluded its evidentiary stage and the TS has recommended the Commission the imposition of a fine of approximately S/. 103.4 million. Cumbra Peru S.A. has objected this recommendation and its advisors estimate its exposure in approximately S/. 39 million without considering present value deductions and additional deductions to which Cumbra Peru S.A. may be entitled under applicable law, and was recorded at December 31, 2020 the equivalent present value in S/24.5 million. d) Impact of the COVID-19 The outbreak of the COVID-19 COVID-19, non-essential These measures led to a substantial reduction in economic activity, especially in the second quarter of 2020. In response to this situation, the governments of Peru, Chile and Colombia implemented various stimulus programs to assist families and businesses. In this context the results of operations, financial positions and cash flows of the Corporation have been adversely affected during second quarter of 2020. However as of the date of this report and as a result of the gradual normalization of activities since July 2020, the results of the following months show a significant recovery in activity. From the analysis carried out by Management the different business of the Corporation have been impacted during 2020 as follows: 1) In the engineering and construction business the mandatory stoppage of activities, specially form March to June, caused total revenues to decrease by 25% compare to 2019. However, the gradual normalization of activities from July and the result of negotiations with our clients regarding higher costs due to the stoppages and new operating standards prevented gross and operating margins from deteriorating substantially compare to 2019. Finally, it was very relevant the award of new contracts during the year, especially the contract for the construction of the second runway at Jorge Chavez airport and the contract for the construction of the Piura gas pipeline. 2) In the real estate business the shutdown of projects has impacted the delivery of real estate units during the year, which impacts the revenues and results of the year. However, despite these adverse circumstances, a positive result was achieved for this business in 2020. 3) The infrastructure businesses continue operating as they were declared essential services: 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. In general terms, we have not been affected by interruptions in the supply chain of personnel, services or materials, and despite the temporary stoppage of some of our projects, there were no penalties or non-compliance The most important goodwill of the Corporation is the result of acquisitions in Colombia and Chile. Considering that in both countries the impacts of the pandemic did not lead to major projects shut downs, our estimates of the value of the goodwill have not been affected. Based on our impairment assessment as of December 31, 2020, we have determined that our goodwill is not impaired. On the liquidity side, the Corporation implemented a plan that included several measures to reduce expenses and preserve cash in response to the ongoing COVID-19 project-by-project, non-essential |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Significant Accounting Policies | 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied in all the years presented, unless otherwise stated. 2.1 Basis of preparation The consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with International Financial Reporting Standards (IFRS) and interpretations issued by the IFRS Interpretations Committee (IFRIC) applicable to companies reporting under IFRS. The financial statements comply with IFRS as issued by the IASB in force as of December 31, 2019, and December 31, 2020, respectively. The consolidated financial statements have been prepared under the historical cost convention, except for derivative financial instruments, financial assets at fair value through profit or loss, and available-for-sale The preparation of the consolidated financial statements in conformity with IFRS requires the use of certain critical accounting estimates. Also requires that the Management exercise its critical judgment in the process of applying the Corporation’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 5. 2.2 Consolidation of financial statements a) Subsidiaries Subsidiaries are entities over which the Company has control. Subsidiaries are fully consolidated from the date on which control is transferred to the Corporation. They are deconsolidated from the date that control ceases. The Corporation applies the acquisition method to account for business combinations. Identifiable assets acquired, liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The Corporation evaluates the measurement of the non-controlling acquisition-by-acquisition non-controlling non-controlling Business acquisition-related costs are expensed as incurred. Any contingent consideration assumed by the Corporation with the selling party is recognized at fair value at the acquisition date. Subsequent changes to the fair value of the contingent consideration are recognized in accordance with IFRS 9 “Financial Instruments” as profit or loss. Goodwill is initially measured as the excess of the acquisition cost, the fair value at the acquisition date of any interest previously acquired plus the fair value of the non-controlling For consolidating subsidiaries, balances, income, and expenses from transactions between Group companies are eliminated. Profits and losses resulting from inter-company transactions that are recognized as assets are also eliminated. Group companies use common accounting practices, except for those that are specifically required for specific businesses. b) Changes in ownership interests in subsidiaries without change of control Transactions with non-controlling non-controlling c) Disposal of subsidiaries When the Corporation ceases to have control over a subsidiary, any retained interest in the entity is re-measured d) Joint arrangements Contracts in which the Corporation and one or more of the contracting parties have joint control on the relevant joint activities are called joint arrangements. Investments in joint arrangements are classified as either joint operations joint ventures joint ventures joint operations Joint ventures The Corporation assesses on an annual basis whether there is any objective evidence that the investment in the joint ventures and associate is impaired. If this is the case, the Corporation calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value and recognizes the impairment loss in share of the profit or loss in associates and joint ventures under the equity method of accounting in the income statement. In addition, the Corporation stops the use of the equity method if the entity ceases to be an operating entity. Joint operations In the Corporation, joint operations mainly relate to consortiums (entities without legal personality) created exclusively for the development of a construction contract. Considering that the only objective of the consortium is to develop a specific project, all revenue and costs are included within revenue from construction activities and cost of construction activities, respectively. e) Associates Associates are all entities over which the Corporation has significant influence but not control, generally accompanying a holding of between 20% and 50% of the voting rights. Investments in associates are accounted for using the equity method (see section d) above). Profits and losses resulting from transactions between the Corporation and its associates are recognized in the Corporation’s consolidated financial statements only to the extent of unrelated investor’s interests in the associates. Unrealized losses are eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates are changed where necessary to ensure consistency with the policies adopted by the Corporation. Impairment losses are measured and recorded in accordance with section d) above. 2.3 Segment reporting Operating segments are reported in a consistent manner with internal reporting provided to the Management of the Corporation. If an entity changes the structure of its internal organization in a manner that causes the composition of its reportable segments to change, the Corporation restates the information for earlier periods unless the information is not available. 2.4 Foreign currency translation a) Functional and presentation currency The consolidated financial statements are presented in Peruvian soles, which is the functional and presentation currency of the Corporation. All subsidiaries, joint arrangements, and associates use the Peruvian Sol as their functional currency, except for foreign entities, for which the functional currency is the currency of the country in which they operate. b) Transactions and balances Foreign currency transactions are translated into the functional currency using prevailing the exchange rates at the date of the transactions or valuation when items are re-measured. Exchange differences arising on loans from the Company to its subsidiaries in foreign currencies are recognized in the separate financial statements of the Company and separate financial statements of the subsidiaries. In the consolidated financial statements, such exchange differences are recognized in other comprehensive income and are re-classified c) Corporation companies The results and financial position of all the Corporation entities (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency of the Corporation are translated into the presentation currency as follows: 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 Goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and are translated at the closing exchange rate. Exchange differences are recognized in other comprehensive income. 2.5 Public services concession agreements Concession agreements signed between the Corporation and the Peruvian Government entitle the Corporation, as a Concessionaire, to assume obligations for the construction or improvement of infrastructure and which qualify as public service concessions are accounted as defined by IFRIC 12 “Service Concession Arrangements”. The consideration to be received from the Government for the services of constructing or improving public infrastructure is recognized as a financial asset, an intangible asset or both, as stated below: 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). 2.6 Cash and cash equivalents In the consolidated statements of financial position and cash flows, cash and cash equivalents include cash on hand, on-demand 2.7 Financial assets 2.7.1 Classification and measurement The Corporation classifies its financial assets, according to its subsequent measurement, in the following categories: i) amortized cost; ii) financial assets at fair value through other comprehensive income and iii) financial assets at fair value through profit or loss. The classification depends on the purpose for which the financial assets were acquired on the basis of the Corporation’s business model for managing the financial assets and the characteristics of the contractual cash flows of the financial asset. Management determines the classification of its financial assets at the date of its initial recognition and re-evaluates a) Amortized cost This category is the most relevant for the Corporation. The Corporation measures financial assets at amortized cost if the following conditions are met: i) The financial asset is held within a business model with the objective of maintaining the financial assets to obtain the contractual cash flows; and ii) The contractual terms of the financial asset generate cash flows, on specific dates, that are only payments of the principal and interest on the amount of the outstanding principal. Financial assets at amortized cost are subsequently measured using the effective interest method and are subject to impairment. Profits and losses are recognized in profits or losses when the asset is written off, modified or impaired. Trade accounts receivable, accounts receivable from related companies, other accounts receivable, work in progress and cash and cash equivalents are included in current assets except for those over twelve months after the date of the consolidated statement of financial position. The latter are classified as non-current b) Financial assets at fair value through other comprehensive results Financial assets at fair value through other comprehensive income of the Corporation are classified in this category when they meet the following conditions: i) keep them within a business model whose objective is achieved by obtaining contractual cash flows and selling financial assets; and ii) the contractual terms of the financial asset give rise, on specific dates, to cash flows that are only payments of the principal and interest on the outstanding principal amount. The investment account at Inversiones en Autopistas S.A. is included in this category. c) Financial assets at fair value through profit or loss Financial assets that do not meet the criteria of amortized costs or fair value through other comprehensive income are measured at fair value through profit or loss. The result in a debt investment that is subsequently measured at fair value through gains and losses is recognized in the consolidated statement of comprehensive income in the period in which it occurs. Financial assets at fair value through profit or loss are non-derivative 2.7.2 Derecognition of financial assets The Corporation derecognizes a financial asset when the contractual rights over the cash flows of the financial asset expire, or when it transfers the rights to receive the contractual cash flows in a transaction in which all the risks and benefits of ownership of the financial asset are substantially transferred, or does not transfer or retain substantially all the risks and benefits related to the property and does not retain control over the assets transferred. The Corporation participates in transactions in which it transfers the assets recognized in its statement of financial position but retains all or substantially all the risks and advantages of the assets transferred, and/or control over them. In these cases, the assets transferred are not derecognized and are measured on a basis that reflects rights and obligations that the Corporation has retained. 2.8 Impairment of financial assets IFRS 9 “Financial Instruments”, requires to register expected credit losses of all financial assets, except for those that are carried at fair value with an effect on results, estimating it over 12 months or for the entire life of the financial instrument (“lifetime”). In accordance with the provisions of the standard, the Corporation applies the simplified approach (which estimates the loss for the entire life of the financial instrument), for the commercial debtors of the rental business line of the real estate sector, and the general approach for the trade accounts receivables, and other accounts receivable; the same that requires evaluating whether or not a significant increase in risk exists to determine whether the loss should be estimated based on 12 months after the reporting date or during the entire life of the asset. The Corporation has established a policy to conduct an evaluation, at the end of each reporting period, to identify whether the asset has suffered a significant increase in credit risk since the initial date. Both the credit losses expected at 12 months and the expected credit losses during the life of the asset are calculated individually or collectively, depending on the nature of the portfolio. For financial assets for which the Corporation has no reasonable expectation of recovering, either the entire outstanding amount or a portion thereof, the gross carrying amount of the financial asset is reduced. This is considered a decrease in (partial) accounts of the financial asset. 2.9 Derivative financial instruments and hedging activities Derivatives are initially recognized at fair value on the date a derivative contract is signed into and are subsequently re-measured The Corporation designates certain derivatives as hedges of a particular risk associated with a recognized asset or liability (fair value hedge) or a highly probable forecast transaction (cash flow hedge). Derivatives are initially recognized at fair value on the date of subscription of the contract and are subsequently recognized at their fair value. The Corporation documents, at the inception of the transaction, the relationship between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedges transactions. The Corporation also documents its assessment, both at hedge inception as at the date of each subsequent statement of financial position, of whether the derivatives used in hedges transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. The fair value of various derivative instruments used for hedging purposes and changes in the account reserves for hedges in equity are disclosed in Note 8. The full fair value of a hedging derivative is classified as a non-current Cash flow hedge The effective portion of changes in the fair value of derivatives that are designated and qualify as fair value hedges is recognized as other comprehensive income. The gain or loss relating to the ineffective portion is recognized immediately in the income statement. Amounts accumulated in equity are reclassified to profit or loss in the periods when the hedged item affects profit or loss (for example, when the forecasted sale that is hedged takes place). The gain or loss relating to the effective portion of interest rate swaps hedging variable rate borrowings is recognized in the income statement as “Financial income or Financial expenses”. However, when the forecasted transaction that is hedged results in the recognition of a non-financial non-financial When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any cumulative gain or loss existing in equity at that time remains in equity and will be reversed to income when the forecasted transaction is finally recognized in the statement of comprehensive income. When a forecasted transaction is no longer expected to occur, the cumulative gain or loss that was reported in equity is immediately transferred to the income statement within “other income and expenses, net”. 2.10 Trade accounts receivables Trade receivables are amounts due from customers for goods or services sold by the Corporation. If the collection is expected in one year or less, they are classified as current assets. If not, they are presented as non-current Trade receivables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method, less any provision for impairment, except for receivables of less than one year that are stated at a nominal amount which is similar to their fair values since they are short term. It includes Management estimates corresponding to the collection rights for services performed pending invoice and/or approval by client, which have been valued using the completion percentage method. It corresponds mainly to the Engineering and Construction segment (subsidiaries Cumbra Peru S.A. and Cumbra Ingenieria S.A. (formerly GMI S.A.). In the Infrastructure segment, for concessions it corresponds to future collections for public services, mainly represented by unconditional contractual rights to be received from the Grantor under the model of the financial asset (Note 2.5). 2.11 Work in progress This account includes the balance of work in progress costs incurred that relates to future activities of the construction contracts (see Note 2.27 for detail on revenue recognition from construction activities and concessions services). Changes in estimates of contract revenues and costs can increase or decrease the estimated margin. When a change in the estimate is known, the cumulative impact of the change is recorded in the period in which it is known, based on the progress completed. 2.12 Inventories The inventories include land, works in progress and finished buildings related to the real estate activity, materials used in the construction activity and marketed supplies for exploration and extraction activities. a) Real estate activity Land used for the execution of real estate projects is recognized at acquisition cost. Work in progress and finished real estate includes the costs of design, materials, direct labor, borrowing costs (directly attributable to the acquisition, construction, production of the asset), other indirect costs and general expenses related to the construction. Net realizable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses. Annually, the Corporation reviews whether inventories have been impaired identifying three groups of inventories to measure their net realizable value: i) land bought for future real estate projects which are compared to their net appraisal value; if the acquisition value is higher, a provision of impairment is recognized; ii) land under construction, impairment is measured based on cost projections; if these costs are higher than selling prices of each real estate unit, an impairment estimated is recorded; and iii) completed real estate units; these inventory items are compared to the selling prices less selling expenses; if these selling expenses are higher, a provision for impairment is recorded. For the reductions in the carrying amount of these inventories to their net realizable value, a provision is recognized for impairment of inventories with a charge to profit or loss for the year in which those reductions occur. b) Exploration and extraction activities Inventories are valued at production costs or net realizable value (NRV), the one with the lowest result, on the basis of the weighted average method. The NRV represents the value at which it is estimated to make oil, gas and its derivatives LPG and HAS, which is calculated on the basis of international prices at which discounts that are usually granted are deducted. Miscellaneous supplies, materials, and spare parts are valued at cost or replacement value, whichever is less based on the average method. The cost of inventories excludes financing expenses and exchange differences. Inventories to be received are recorded at cost by the specific identification method. The Corporation constitutes a devaluation of materials charged to income for the year in cases in which the book value exceeds its recoverable value. c) Other activities Materials and supplies are recorded at cost by the weighted average method or at their replacement value, the lower. The cost of these items includes freight and non-refundable The devaluation of these items is estimated on the basis of specific analysis made by the Management on its rotation. If it is identified that the book value of the stocks of materials and supplies exceeds their replacement value, the difference is charged to income in the year in which this situation is determined. Management considers that as of the date of the consolidated financial statements it is not necessary to establish additional provisions to those recognized in the financial statements to cover losses due to obsolescence of these inventories. 2.13 Investment property Investment properties are shown at cost less accumulated depreciation and impairment losses, if any. Subsequent costs attributable to investment properties are capitalized only if it is probable that future economic benefits will flow to the Company and the cost of these assets can be measured reliably; if not, they are recognized as expenses when incurred. Repair and maintenance expenses are recognized in profit and loss when they are incurred. If the property’s carrying amount is greater than its estimated recoverable amount, an adjustment to reduce the carrying amount to the recoverable amount is recognized. Depreciation is determined by the straight-line method at a rate that is considered sufficient to absorb the cost of the assets and the end of the useful life and considered their significant components with useful lives substantially different (each component is treated separately for depreciation purposes). The estimated useful lives of those properties range from 5 to 50 years. The investment properties held by the Corporation correspond to: (i) “Agustino Plaza” Shopping Center, located in the El Agustino District, and (ii) the stores situated within the stations of Line 1 of the Lima Metro; the properties owned by the subsidiary Viva Negocio Inmobiliario S.A. are represented by a fair value amount to US$14.16 million, equivalent to S/51.31 million as of December 31, 2020 (US$18.7 million, equivalent to S/62.6 million, as of December 31 of 2019). These investment properties have been leased under the modality of an operating lease. 2.14 Property, plant and equipment Property, plant and equipment are stated at historical cost less accumulated depreciation and impairment losses, if any. Historical cost includes expenditure that is directly attributable to the acquisition of these items. Subsequent costs are included in the asset’s carrying amount or are recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Corporation and the cost of the item can be measured reliably. Repairs and maintenance expense are charged to the statement of income during the financial period in which they are incurred. Assets under construction are capitalized as a separate component. At their completion, the cost of such assets is transferred to their definitive category. Replacement units are major spare parts in which depreciation starts when the units are installed for use within the related asset. Depreciation of machinery, equipment and vehicles recognized as “Major equipment” are depreciated based on their hours of use. Under this method, the total number of work hours that machinery and equipment is capable of producing is estimated and a charge per hour is determined. The depreciation of other assets that do not qualify as “Major equipment” is calculated under the straight-line method to allocate their cost less their residual values over their estimated useful lives, as follows: 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 Residual values and useful lives are reviewed and adjusted as appropriate at each reporting date. Gains and losses on disposals are recognized in “Other income and expenses, net” in the statement of income. Regarding joint operations that carry out construction activities, the difference between the proceeds from disposals of fixed assets and their carrying amount is shown within “revenue from construction activities” and “cost of construction activities”, respectively. 2.15 Intangible assets i) Goodwill Goodwill arises on the acquisition of subsidiaries and represents the excess of the purchase consideration, the amount of any non-controlling non-controlling Goodwill acquired in a business combination is allocated to each cash-generating units (CGU), or group of CGUs, that is expected to benefit from the synergies of the combination. Goodwill is monitored at the operating segment level. Goodwill impairment reviews are performed at least annually and when events or changes in circumstances indicate a potential impairment. Any impairment is recognized immediately as an expense in item “Other income and expenses, net” and cannot be reversed later. ii) Trademarks Trademarks acquired separately are shown at historical cost. Trademarks acquired in a business combination are recognized at fair value at the acquisition date. Management has determined that these trademarks have indefinite useful lives. Trademark impairment reviews are performed at least annually and when events or changes in circumstances indicate a potential impairment. Any impairment is recognized immediately as an expense in item “Other income and expenses, net”. The carrying amount that has been subject to impairment is reviewed at each reporting date to verify possible reversals of the impairment and is recognized in the “other income and expenses, net” item. iii) Concession rights The intangible asset consisting of the right to charge users for the services related to service concessions agreements (Note 2.5 and Note 6.b) is initially recorded at the fair value of construction or improvement services and before amortization is started, an impairment test is performed; it is amortized under the straight-line method, from the date revenue starts using the lower of its estimated expected useful life or effective period of the concession agreement. iv) Contractual relationships with customers Contractual relationships with customers are assets resulting from business combinations that were initially recognized at fair value as determined based on the expected cash flows from those relations over a period of time based on the estimated permanent of the Corporation’s customer (the estimation of useful life is based on the term of contract with customers which fluctuate between 5 and 9 years). The useful life and the impairment of these assets are individually assessed. v) Cost of development wells Costs incurred in preparing wells to extract hydrocarbons in Blocks I, III, IV, and V, located in Talara, are capitalized as part of intangible assets. These costs are amortized over the useful lives of the wells (estimated in remaining periods for Blocks I and V and the unit of production method for Blocks III and IV), until the end period of the agreements signed with Perupetro. vi) Software and development costs Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by the Corporation are recognized as intangible assets when the following criteria are met: • 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. Other development costs that do not meet these criteria are reconized in the statement of income as incurred. Development costs previously recognized as an expense are not recognized as an asset in a subsequent period. Computer software development costs recognized as assets are amortized over their estimated useful lives, which fluctuate between 2 to 15 years. vii) Land use rights Refers to the rights maintained by the subsidiary Promotora Larcomar S.A. Land use of rights are stated at historical cost less amortization and any accumulated impairment losses. The useful life of this asset is based on the agreement signed (60 years) and may be extended if agreed by parties. Amortization will begin when it becomes ready for its intended use by Management. 2.16 Impairment of non-financial Assets subject to amortization are subject to impairment tests when events or circumstances occur that indicate that their book value may not be recovered. Impairment losses are measured as the amount by which the book value of the asset exceeds its recoverable value. The recoverable value of the assets corresponds to the higher of its fair value and its value in use. For purposes of the impairment assessment, assets are grouped at the lowest levels in which they generate identifiable cash flows (cash-generating units). The book value of non-financial 2.17 Financial liabilities The financial liabilities of the Corporation include trade accounts payable, accounts payable to related parties, remuneration and other accounts payable. All financial liabilities are initially recognized at fair value and subsequently valued at amortized cost using the effective interest rate method. Financial liabilities are classified as current liabilities if the payment must be made within a year or less (or in the normal operating cycle of the business if it is greater), otherwise, they are presented as non-current 2.18 Trade accounts payable Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business. Accounts payable are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer), if not, they are presented as non-current Accounts payable are initially recognized at their fair value and subsequently are amortized at amortized cost using the effective interest method, except for accounts payable within less than one year that are recorded at their nominal value that is similar to their fair value due to its maturity in the short term. 2.19 Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profi |
Standards, Amendments, And Inte
Standards, Amendments, And Interpretation Of International Financial Reporting Standards | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Standards, Amendments, And Interpretation Of International Financial Reporting Standards | 3 STANDARDS, AMENDMENTS, AND INTERPRETATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS a) New standards and amendments to standards and interpretations adopted by the Company in 2020 The following accounting standards (IFRS), amendments to standards and interpretations are effective as of January 1, 2020, and have had no impact on the Company’s consolidated financial statements: • 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 The application of this amendment had no significant impact on the Company’s consolidated financial statements as of December 31, 2020. b) New standards and interpretations that have not been adopted in advance The following standards, amendments to standards and interpretations have been published with application for periods beginning after the date of presentation of these financial statements and have not been adopted in advance: • 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, 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. • Onerous Contracts - Cost of fulfilling a contract - Amendments to IAS 37 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 When the non-monetary 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. The Company is currently evaluating the impact that the modifications or amendments described before may have on current practice. |
Financial Risk Management
Financial Risk Management | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Financial Risk Management | 4 FINANCIAL RISK MANAGEMENT Financial risk management is carried out by the Corporation’s Management. Management oversees the general management of financial risks, such as foreign exchange rate risk, price risk, cash flow, and fair value interest rate risk, credit risk, the use of derivative and non-derivative 4.1 Financial Risk Factors The Corporation’s activities expose it to a variety of financial risks: market risk (including foreign exchange risk, price risk, fair value interest rate risk and cash flow interest rate risk), credit risk and liquidity risk. The Corporation’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Corporation’s financial performance. The Corporation uses derivative financial instruments to hedge certain risk exposures in one of its subsidiaries and considers the use of other derivatives in the event that it identifies risks that may generate an adverse effect for the Corporation in the short and medium-term. a) Market risks i) Foreign exchange risk The Corporation is exposed to exchange rate risk as a result of the transactions carried out locally in foreign currency and due to its operations abroad. As of December 31, 2019, and 2020 this exposure is mainly concentrated in fluctuations of U.S. dollar, the Chilean and Colombian Pesos. As of December 31, 2020, the balances of financial assets and liabilities denominated in foreign currencies correspond to balances in U.S. dollars, which are expressed at the published bid and ask exchange rate in effect at that date, according to the currency exchange rate: soles for S/3.624 published by the Superintendency of Banking, Insurance and Pension Fund Administrators (SBS), Chilean pesos for CLP711.24 published by the Central Bank of Chile and Colombian pesos for COP3,432.50 published by Banco of the Republica of Colombia. As of December 31, the consolidated statement of financial position includes the following: 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 The Corporation’s exchange gains and losses for the Peruvian Sol, the Chilean and Colombian Pesos exposure against the U.S. dollar was: 2018 2019 2020 Gain 383,085 392,942 426,850 Loss (406,789 ) (425,782 ) (432,652 ) If as of December 31, 2020 the Peruvian Sol, the Chilean and Colombian Pesos had strengthened/weakened by 2% against the U.S. dollar, with all other variables held constant, the pre-tax The consolidated statement of changes in equity comprises a foreign currency translation adjustment originated by its subsidiaries. The consolidated statement of financial position includes assets and liabilities in functional currency equivalent to (in thousands): 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 The Corporation’s foreign exchange translation adjustment for 2020 was positive by S/8.3 million (in 2019, S/8.2 million, negative and positive by S/5.7 million in 2018). ii) Price risk Management considers that the exposure of the Corporation to the price risk of its investments in mutual funds, bonds, and equity securities is low since the invested amounts are not significant. Any fluctuation in their fair value will not have any significant impact on the balances reported in the consolidated financial statements. iii) Cash flow and fair value interest rate risk The Corporation’s interest rate risk mainly arises from its long-term borrowings. Borrowings issued at variable rates expose the Corporation to cash flow interest rate risk. Borrowings issued at fixed rates expose the Corporation to fair value interest rate risk. Group policy is to maintain most of its borrowings at fixed rate instruments; 62.3% of total debt in 2020 (61.8% in 2019) was contracted at fixed rates and 37.7% at variable rates (38.2% in 2019) which consisted of a 37.5% fixed rate plus VAC (adjusted for inflation) and the remaining 0.2% at a variable rate (37.7% fixed rate + VAC and the remaining 0.5% at a variable rate in 2019). During 2019 and 2020, the debt subject to fixed rate plus VAC is related to a bond issued in Peruvian Sol to finance the GyM Ferrovias Project, Metro Line 1 (Note 19). Any increase in the interest rate resulting from higher inflation will have no significant impact on the Corporation’s profit because these revenues are also adjusted for inflation. In the event that the Corporation accrues variable interest rates in soles and U.S. dollars, the policy would be to hedge the cash flow risk with interest rate swap-type derivatives, on which the hedge accounting treatment is applied. If as of December 31, 2019, the libor rate plus three months had increased/decreased by 5%, with all other variables held constant, the pre-tax b) Credit risk Credit risk arises from cash and cash equivalents and deposits with banks and financial institutions, as well as customer credit counterparties, including the outstanding balance of accounts receivable and committed transactions. Concerning to loans to related parties, the Corporation has measures in place to ensure the recovery of these loans through the controls maintained by the Corporate Finance Management and the performance evaluation conducted by the Board. Management does not expect the Corporation to incur any losses from the performance by these counterparties, except for the ones already recorded at the financial statements. c) Liquidity risk Prudent liquidity risk management implies maintaining sufficient cash and cash equivalents, the availability of funding through an adequate number of sources of committed credit facilities and the capacity to close out positions in the market. Historically, the Group cash flows enabled it to meet its obligations. Due to the COVID-19 1-d), The Group’s Corporate Finance Office monitors rolling forecasts of the Group’s liquidity requirements to ensure it exists sufficient cash to meet operational needs so that the Group does not breach borrowing limits or covenants, where applicable, on any of its borrowing facilities. Less significant financing transactions are controlled by the Finance Management of each subsidiary. Such forecasting takes into consideration the Corporation’s debt financing plans, covenant compliance, compliance with internal statement of financial position ratio targets and, if applicable, external regulatory or legal requirements, for example, foreign currency restrictions. Surplus cash held by the operating entities over the balance required for working capital management is invested in interest-bearing checking accounts or time deposits, selecting instruments with appropriate maturities and sufficient liquidity. The table below analyzes the Corporation’s financial liabilities into relevant maturity groupings based on the remaining period from the date of the consolidated statement of financial position to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. As of December 31, 2019 Less than 1-2 2-5 More than Total Other financial liabilities (except for finance leases and lease liability for right-of-use 501,864 147,473 235,222 — 884,559 Finance leases 11,438 3,531 13,346 — 28,315 Lease liability for right-of-use 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 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 220,602 2,505 219,788 — 442,895 Other non-financial — 52 — — 52 1,909,120 373,632 894,193 1,090,347 4,267,292 As of December 31, 2020 Less than 1-2 2-5 More than Total Other financial liabilities (except for finance leases and lease liability for right-of-use 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 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 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 288,037 2,185 115,321 — 405,543 1,944,734 477,542 739,723 1,015,978 4,177,977 4.2 Capital management risk The Corporation’s objectives when managing capital are to safeguard the Corporation’s ability to continue as a going concern in order to provide returns for shareholders, benefits for other stakeholders and to maintain an optimal capital structure to minimize the cost of capital. In 2017 the situation of the Corporation had lead Management to monitor deviations that might cause the non-compliance (Note18-a). In order to maintain or adjust the capital structure, the Corporation may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt. The Corporation monitors capital based on the gearing ratio. This ratio is calculated as net debt divided by total capital. Net debt is calculated as total borrowings (including current and non-current As of December 31, 2019, and 2020, the gearing ratio is presented below indicating the Corporation’s strategy to keep it in a range from 0.10 to 0.70. 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 1,595,296 Total capital 2,740,021 2,526,207 Gearing ratio 0.32 0.37 4.3 Fair value estimation For the classification of the type of valuation used by the Corporation for its financial instruments at fair value, the following levels of measurement have been established. • 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). The table below shows the Corporation’s assets and liabilities measured at fair value: Level 2 Level 3 As of December 31, 2019 Financial liabilities Derivatives used for hedging (a) 52 — As of December 31, 2020 Financial liabilities Other financial entities (Note 18-d) — 152,523 (a) As of December 31, 2020, this financial liability was liquidated. |
Critical Accounting Estimates a
Critical Accounting Estimates and Judgments | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Critical Accounting Estimates and Judgments | 5 CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS Estimates and judgments used are continuously evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 5.1 Critical accounting estimates and assumptions The Corporation makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. a) Evaluation of the impairment of goodwill and other fixed assets of definite useful life and intangible assets of indefinite useful life Impairment reviews are undertaken annually to determine if goodwill arising from business acquisitions and other intangible assets with indefinite useful life are impaired, in accordance with the policy described in Note 2.15-i). The recoverable amounts of the CGU and of other intangible assets with indefinite useful life have been determined based on the higher of their value-in-use If the Corporation experiences a significant drop in revenues or a drastic increase in costs or changes in other factors, the fair value of their business units might decrease. If management determines that the factors reducing the fair value of the business are permanent, those economic factors will be taken into consideration to determine the recoverable amount of those business units and therefore, goodwill, as well as other intangible assets with indefinite useful life may be deemed to be impaired, which may cause their write-down. As of December 31, 2019, and 2020 the Corporation has performed a sensitivity analysis increasing or decreasing the assumptions of gross margin, discount rate, and revenue and terminal growth rate by a 10%, with all the other variables held constant, as follows: 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 % Goodwill In 2020, if the gross margin had been 10% less than management’s estimate, the Corporation would have had to recognize an impairment provision for goodwill of the Engineering and Construction CGU (Morelco); however, if the discount rate or terminal growth rate had been 10% less or 10% more than management’s estimate, it would not have had to recognize an impairment provision. In 2019, if these assumptions had been 10% less or 10% more than Management’s estimate, the Corporation would not have recognized a provision for impairment of goodwill in the Electromechanical CGU (GMA); however, at the same variation, the Corporation would have to recognized a provision for impairment of the Engineering and Construction (Morelco). As a result of these assessments, as of December 31, 2020, no impairment provision was identified. As of December 31, 2019, an impairment of the goodwill in Morelco was identified and recorded in the Engineering and Construction CGU (Note 17). Trademarks In 2020, if the revenue growth rate, terminal growth rate, or discount rate were 10% below Management’s estimates, the Corporation would have had to recognize a provision for trademark impairment in Vial y Vives-DSD. As a result of these assessments, as of December 31, 2020, no impairment provision was identified. As of December 31, 2019, a reversal of goodwill impairment was identified and recorded in the Engineering and Construction CGU, trademark impairment in Vial y Vives-DSD Review of carrying amounts of UNNA ENERGIA’s long-lived assets At the date of each consolidated statement of financial position, the Group reviews the carrying amounts of its non-financial The determination of whether an asset or group of assets is impaired involves management’s estimates with a certain level of uncertainty, such as future oil and gas (commodity) prices, effects of inflation on operating expenses, discount rates, production profiles and the outlook for world supply and demand conditions for crude oil, natural gas and refined products. Expected future cash flows are determined using management’s best estimate of future oil and gas prices and reserve volumes. The level of expected future production in any impairment test is based on assumptions about future oil and gas prices, development and production costs, current tax regimes, among other factors. As a consequence of the decrease in crude oil and gas prices at international level, the Group performed an impairment test of its long-lived assets belonging to its Cash Generating Units (hereinafter CGU), crude oil and non-associated pre-tax Management based its estimates of expected future cash flows to determine the recoverable value on i) information on reserves determined by technical management; and ii) estimated future prices and costs projected by management, using the following assumptions: • 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. The recoverable value determined by the Company for crude oil following the value in use approach was S/783.8 million, which is higher than the carrying value of the CGU’s S/361 million, therefore management concludes that it is not required to recognize an impairment recovery of its assets (Level 3) Sensitivity analysis The sensitivity of the results obtained from the impairment test above to changes in the assumptions used by management is detailed below: • 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%. • Changes in the discount rate: If the discount rate used by management were to increase by 10%. As a result of the volatility of oil and gas prices in the international and local market, the Company sensitized the prices and discount rates in its expected cash flow model according to the assumptions included obtaining the recoverable values as of December 31, 2020. Assuming that prices had been reduced by 10%, and the discount rate had been increased by 10%, this would have resulted in a negative variation in the Company’s value in use of 29.2%. Although there is a high level of uncertainty, the impact is not significant in the separate financial statements, which is still higher than the carrying value of the CGU’s S/194 million. b) Income taxes Determination of the tax obligations and expenses requires interpretations of the applicable tax laws and regulations. The Corporation seeks legal and tax counsel before making any decision on tax matters. Deferred income tax assets and liabilities are calculated on the temporary differences arising between the tax basis of assets and liabilities and the amounts stated in the financial statement of each entity that makes up the Corporation, using the tax rates in effect in each of the years in which the difference is expected to reverse. Any change in tax rates will affect the deferred income tax assets and liabilities. This change will be recognized in the consolidated statement of income in the period in which the change takes effect. Deferred income tax assets are recognized only to the extent that it is probable that future taxable profits will be available against which deductible temporary differences and tax loss carryforwards can be utilized. For this purpose, the Corporation takes into consideration all available evidence, including factors such as historical data, projected income, current operations, and tax planning strategies. A tax benefit related to a tax position is only recognized if it is more likely than not that the benefit will ultimately be realized. The Corporation’s possible maximum exposure to tax contingencies amount to S/147.7 million. The income tax for the year includes Management’s evaluation of the amount of taxes to be paid in uncertain tax positions, where the liabilities have not yet been agreed with the tax administration. c) Percentage of completion revenue recognition Service revenues based on construction contracts are recognized by the percentage of completion method, which requires estimating the margin will be obtained culminating works. Projections of these margins are determined by management based on their budgets execution and adjusted periodically in order to use updated information to reflect actual performance in the work. In this regard, management believes that the estimates made at the end of the year are reasonable. When changes occur not approved in the scope of work, income is recognized as equivalent to the cost incurred (no profit is recognized) until it has been approved the additional work. The revenue of the contract is recognized as such in the consolidated statement of comprehensive income in the accounting periods in which the work was executed. Costs related to the construction contract costs are recognized as works in the consolidated comprehensive income in the accounting periods in which the work was executed. However, any expected and likely cost overruns related to the contract over total expected income under the contract is recognized as expense immediately. In addition, any change in the estimates under the contract is recognized as a change in accounting estimates in the period in which the change is made and future periods if applicable. In certain construction contracts, the terms of these agreements allow to retain an amount to customers until it culminates with construction. Under these contracts, the total amount cannot be recognized until the construction is finished. As of December 31, 2018, 2019 and 2020, a sensitivity analysis was performed considering a 10% increase/decrease in the Corporation’s gross margins, as follows: 2018 2019 2020 Revenues 1,961,100 2,411,880 1,815,671 Gross profit 32,685 60,317 99,362 % 1.67 2.50 5.47 Plus 10% 1.84 2.75 6.02 Increase in profit before income tax 3,399 6,010 9,941 36,084 66,327 109,303 Less 10% 1.50 2.25 4.92 Decrease in profit before income tax (3,399 ) (6,010 ) (9,941 ) 29,286 54,307 89,421 d) Provision for well closure costs As of December 31, 2020, the present value of the estimated provision for the closure of 193 wells located in Talara amounted to S/52.9 million (S/50.1 million as of December 31, 2019, for the closure of 189 wells). The well closure liability is adjusted to reflect the changes that resulted from the passage of time and from reviews of either the date of occurrence or the amount of the present value of the originally estimated obligations (Note 17-d). The Corporation estimates the present value of its future obligation for well closure costs, or well closure liability, and increases the carrying amount of the asset that will be withdrawn in the future and that is shown under the heading of intangibles in the consolidated statement of financial position. In 2020, the calculation of the provision has been separated according to the obligations currency. Therefore, the pre-tax If on December 31, 2019, and 2020, the estimated rate had increased or decreased by 10%, with all variables held constant, the impact on pre-tax e) Impairment of investment in associate and account receivable to Gasoducto Sur Peruano S.A. (GSP) Based on the termination of the concession agreement, on which Gasoducto Sur Peruano S.A. (GSP) acts as concessionaire (Note 15 a-i), In that process, the Corporation has applied judgment to weight the various uncertainties surrounding the amount that can be recovered from this investment. Management has determined the recoverable amount assuming the following key factors: (i) the amount that GSP will recover as a result of a possible public auction, (ii) the liquidation of the company via the GSP Creditor’s meeting, and (iii) the validity of its right to subordinate the Odebrecht Group’s debts in GSP. The calculation of the impairment estimate assumes a process of liquidation of GSP in accordance with Peruvian legislation, whereby the value of the asset to be recovered is first applied to the payments of liabilities in the different categories of creditors and the remainder, if it is the case, to the payment of the shareholders, taking into account the existing subordination agreements. In 2018, in relation to the amount to be recovered by GSP, the Corporation is assuming a recovery of the minimum amount established in the concession agreement, which is equivalent to 72.25% of the Net Carrying Amount (NCA) of the Concession assets. This amount, in substance, represents a minimum payment to be obtained by GSP based on a public auction (liquidation) to be set up for the adequate transfer of the Concession’s assets to a new Concessionaire, under the relevant contractual terms and conditions. Additionally, given the situation of non-compliance As of December 31, 2019 and 2020, the recovery of NCA estimated by Management equals 50%, in consideration of the agreements taken as a consequence of the signing of the preliminary effective collaboration agreement. Likewise, considering that the formation of the creditors’ meeting is still pending, the deadline to initiate actions to start the collection process has been delayed. Therefore, a total term of eight years has been considered, from the date and until the formation of the creditors’ meeting, the approval of the settlement plan, the presentation of the arbitration claim, as well as the entire arbitration process in itself. 5.2 Critical judgments in applying the accounting policies Consolidation of entities in which the Corporation holds less than 50% The Corporation owns some direct and indirect subsidiaries of which the Corporation has control even though it has less than 50% of the voting rights. These subsidiaries mainly comprise indirect subsidiaries in the real estate business owned through Viva Negocio Inmobiliario S.A., having the power to affect the relevant activities that impact the subsidiaries’ returns, even though the Corporation holds interest between 30% and 50%. Additionally, the Corporation has control de facto UNNA ENERGIA S.A. Lots III and IV, License contracts for the exploitation of hydrocarbons As a result of the signing in March 2015 of the license agreements for block III and IV, the Group’s oil production and business capacity has increased. The most relevant critical judgments applied by the Group are listed below. The Corporation’s Management concluded that it acquired control over the assets of the aforementioned blocks, by defining the main aspects of the operation, maintenance and disposal, as well as being exposed to the main risks and benefits inherent to the ownership of the assets and, consequently, the Group is not simply assuming a right of use. Therefore, on April 2015, the Group recognized facilities, machinery and equipment for S / 35.7 million and will recognize its futures investments as part of its assets. Additionally, the Group would assume the costs of the permanent abandonment of the productive wells and facilities that are part of its operations and that have been produced in the Group’s management, which, for safety, environmental or economic reasons, cease to operate, in accordance with established in clause 13.5 of the aforementioned contract. It should be noted that it is not the Group’s obligation to carry out closure activities for existing wells that are not produced by it. These costs must be part of the assets of the company, see Note 13 - Intangible Assets - Provision for the closure of wells. On December 31, 2016, the Company began its well drilling activities in Block IV, which continued until March 2020, when due to a Sanitary Emergency, the drilling campaigns were suspended due to Force Majeure. In Block III, the company has not started its drilling activities, for reasons of Force Majeure, as it does not have the authorization of the Miramar Vichayal Peasant Community (the Community), until the Easement Contract is registered in Public Registries. In November 2019, UNNA ENERGIA S.A. and the Community entered into the Easement Agreement. Efforts are under way to register the Easement Contract in Public Records, to then continue with the respective payments and start the drilling campaign in Block III. Consolidation of entities in which the Corporation does not have joint control but holds rights and obligations over the assets and liabilities The Corporation assesses, on an ongoing basis, the nature of the contracts signed with one or more parties. If no control or joint control is determined to be held by the Corporation, but it has rights over assets and obligations for liabilities under the arrangement, then the Corporation recognizes its assets, liabilities, revenue and expenses and its share of any jointly controlled assets or liabilities and any revenue or expense arising under the arrangement as a joint operation in accordance with IFRS 11 - Joint arrangements (Note 2.2-d). |
Interest in Other Entities
Interest in Other Entities | 12 Months Ended |
Dec. 31, 2020 | |
Investments accounted for using equity method [abstract] | |
Interest in Other Entities | 6. INTERESTS IN OTHER ENTITIES The consolidated financial statements include the accounts of the Corporation and its subsidiaries. Additionally, the consolidated financial statements of the Corporation include its interest in joint operations in which the Company or certain subsidiaries have joint control with their partners (Note 2.2-d). a) Main subsidiaries The following table shows the principal direct and indirect subsidiaries classified by operating segment (Note 7): Name Country Economic activity Engineering and Construction: Cumbra Peru 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. Cumbra Ingenieria 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 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: UNNA Energia S.A. Peru Oil and oil by-products 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. Name Country Economic activity Concar S.A.C. Peru Highway and roads concessions operation and maintenance. Tren Urbano de Lima 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 Negocio Inmobiliario 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 Corporation’s 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. Perú Activities related to the generation, cogeneration, transmission, import, export and distribution of electrical energy. The following table shows the Corporation’s subsidiaries and related interest as of December 31, 2020: Percentage of Percentage of Percentage of shares held by the Group (%) Percentage of held by non-controlling Engineering and Construction: Cumbra Peru 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 % Cumbra Ingenieria S.A. 89.41 % — 89.41 % 10.59 % - Ecología Tecnología Ambiental S.A.C. — 100.00 % 100.00 % — - GM Ingenieria y Construccion de CV — 100.00 % 100.00 % — - GM Ingenieria Bolivia S.R.L. — 98.57 % 98.57 % 1.43 % Infrastructure: UNNA ENERGIA 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 % — Tren Urbano de Lima 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 % Concesion Canchaque S.A. 99.96 % 0.04 % 100.00 % — Concesionaria Via Expresa Sur S.A. 99.98 % 0.02 % 100.00 % — Real Estate: Viva Negocio Inmobiliario 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 % — The following table shows the Corporation’s subsidiaries and related interest as of December 31, 2019: Percentage of common shares directly held by Parent (%) Percentage of Percentage of Percentage of held by non-controlling Engineering and Construction: Cumbra Peru 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 % Cumbra Ingenieria S.A. 89.41 % — 89.41 % 10.59 % - Ecología Tecnología Ambiental S.A.C. — 100.00 % 100.00 % — - GM Ingenieria y Construccion de CV — 99.00 % 99.00 % 1.00 % - GM Ingenieria Bolivia S.R.L. — 98.57 % 98.57 % 1.43 % Infrastructure: UNNA ENERGIA 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 % — Tren Urbano de Lima 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 % Concesion Canchaque S.A. 99.96 % 0.04 % 100.00 % — Concesionaria Via Expresa Sur S.A. 99.98 % 0.02 % 100.00 % — Real Estate: Viva Negocio Inmobiliario 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 % — All investments in subsidiaries have been included in the consolidation. The proportion of voting rights in such subsidiaries is held directly by the Company and does not differ significantly from the proportion of shares held. As of December 31, the non-controlling 2019 2020 Viva Negocio Inmobiliario S.A. and subsidiaries 168,839 132,238 Cumbra Peru S.A. and subsidiaries 61,569 51,798 Norvial S.A. 63,031 57,941 UNNA ENERGIA S.A. 24,413 24,162 Tren Urbano de Lima S.A. 77,564 59,231 Promotora Larcomar S.A. 3,058 3,022 Other (199 ) (702 ) 398,275 327,690 In December 2019, the subsidiary Viva Negocio Inmobiliario S.A. through the General Shareholders’ Meeting, it agreed to capitalize its supplementary premium for the amount of S/65.3 million to subsequently reduce the share capital in a non-proportional The return did not generate cash outflow as the reciprocal obligations between its shareholders with the subsidiary were offset. Consequently, the Company modified its participation in its subsidiary from 63.4% to 56.2%, in turn its subsidiary Cumbra Peru S.A. (also a shareholder of Viva Negocio Inmobiliario S.A.) modified its stake from 36.1% to 43.3%. In addition, in December 2019 the subsidiary Cumbra Peru S.A. through the General Shareholders’ Meeting agreed to the capital increase for monetary contributions in the amount of S/146.1 million. Minority shareholders voluntarily waived the pre-emptive Summarized financial information of subsidiaries with material non-controlling Set out below is the summarized financial information for each subsidiary that has non-controlling Summarized statement of financial position Viva Negocio and subsidiaries Cumbra Peru S.A. and subsidiaries Norvial S.A. Tren Urbano de Lima S.A. As of December 31, As of December 31, As of December 31, As of December 31, 2019 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 ) (1,687,355 ) (53,715 ) (45,185 ) (93,879 ) (85,616 ) Current net assets (liabilities) 327,810 291,887 (259,261 ) (337,302 ) 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 ) (439,253 ) (282,358 ) (254,979 ) (668,080 ) (680,905 ) Non-current 83,678 85,845 613,294 652,867 159,828 148,301 (45,047 ) (45,069 ) Net assets 411,488 377,732 354,033 275,565 191,002 175,578 310,254 236,925 Summarized income statement Viva Negocio and subsidiaries Cumbra Peru S.A. and subsidiaries Norvial S.A. Tren Urbano de Lima 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 ) (76,669 ) 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 ) (78,422 ) 17,252 (624 ) 81,445 60,841 Other comprehensive income — 0 (7,436 ) 7,368 — 0 — 0 Total comprehensive income for the year 23,729 14,962 (154,360 ) (71,054 ) 17,252 (624 ) 81,445 60,841 Summarized statement of cash flows Viva Negocio Cumbra Peru S.A. Norvial S.A. Tren Urbano de Lima 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 ) 1,400 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 19,115 (33,564 ) (2,737 ) 109,718 (92,921 ) Cash and cash equivalents at the beginning of the year 93,262 60,718 172,628 336,467 99,850 66,286 191,178 300,896 Cash and cash equivalents at the end of the year 60,718 73,531 336,467 355,582 66,286 63,549 300,896 207,975 The information above is the amount before inter-company eliminations. b) Public services concessions The Corporation has public service concessions. When applicable, the income attributable to the construction or restoration of infrastructure has been accounted for by applying the models described in Note 2.5 (financial asset model, intangible asset and forked model). Since the termination of the Contract between TGNCA and the Ministry of Energy and Mines, Management has worked on developing and completing new gas compression and liquefaction projects. Additionally, it is evaluating the centralization of the gas business through this vehicle and expects to start the gas compression project in 2021. In all the Corporation’s concessions, the infrastructure returns to the Grantor at the end of the Contract. The concessions held by the Corporation are as follows as of December 31, 2020: Name of Description Estimated Consideration Ordinary Concession Accounting 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 Sedapal´s collection trust. 50.00% 2036 Financial asset Tren Urbano de Lima 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 concession Description Estimated Consideration Ordinary Concession Accounting 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. The Company obtained the concession 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 Bifurcated c) Main joint operations As of December 31, 2018 and 2019, the Corporation is a partner to 51, and as of December 31, 2020, to 52 Joint Operations with third parties, respectively. The table below lists the Corporation’s major Joint Operations. Percentage of interest Joint operations 2018 2019 2020 AENZA S.A.A. - Concesionaria La Chira S.A. 50 % 50 % 50 % Cumbra Peru S.A. - Consorcio CDEM 85 % 85 % — - Consorcio Huacho Pativilca 67 % 67 % 67 % - Consorcio GyM – CONCIVILES 67 % 67 % 67 % - Consorcio AMDP norte 50 % — 50 % - Consorcio Chicama - Ascope 50 % 50 % — - Consorcio Constructor Alto Cayma 50 % 50 % 50 % - Consorcio Energia y Vapor 50 % 50 % — - Consorcio Ermitaño 50 % 50 % 50 % - Consorcio GyM Sade Skanska 50 % 50 % — - Consorcio GYM-OSSA — 50 % 100 % - Consorcio GyM-Stracon 50 % 50 % 50 % - Consorcio HV GyM 50 % 50 % 50 % - Consorcio La Chira 50 % 50 % 50 % - Consorcio Lima Actividades Comerciales Sur 50 % 50 % 50 % - Consorcio Lima Actividades Sur 50 % 50 % 50 % - Consorcio Menegua 50 % 50 % — - Consorcio para la Atencion y Mantenimiento de Ductos 40 % - — - Consorcio Rio Mantaro 50 % 50 % — - Consorcio Río Urubamba 50 % 50 % 50 % - Consorcio TNT Vial y Vives - DSD Chile LTDA 50 % 50 % — - Constructora Incolur DSD Limitada 50 % 50 % — - Consorcio Alto Cayma 49 % 49 % 49 % - Consorcio La Gloria 49 % 49 % 49 % - Consorcio Norte Pachacutec 49 % 49 % 49 % - Consorcio Italo Peruano 48 % 48 % 48 % - Consorcio Vial Quinua 46 % 46 % 46 % - Consorcio Constructor Ductos del Sur 29 % 29 % 29 % - Consorcio Constructor Chavimochic 27 % 27 % 27 % - Consorcio Inti Punku — — 49 % - Consorcio Pasco — 1 % 1 % UNNA ENERGIA S.A. - Consorcio Terminales 50 % 50 % 50 % - Terminales del Perú 50 % 50 % 50 % Percentage of interest Joint operations 2018 2019 2020 Concar S.A.C. - Consorcio Ancon-Pativilca 67 % 67 % 67 % - Consorcio Peruano de Conservación 50 % 50 % 50 % - Consorcio Manperan 67 % 67 % 67 % - Consorcio Vial Sierra 100 % 50 % 50 % - Consorcio Vial Ayahuaylas 99 % 99 % 99 % - Consorcio Vial ICAPAL 10 % 10 % 10 % - Consorcio Vial Sullana 99 % 99 % 99 % - Consorcio Vial del Sur 99 % 99 % 99 % - Consorcio Obras Viales — 99 % 99 % Cumbra Ingenieria S.A. - Consorcio Vial la Concordia 88 % 88 % 88 % - Consorcio GMI- Haskoningdhv 70 % 70 % 70 % - Consorcio Supervisor Ilo 55 % 55 % 55 % - Consorcio Poyry-GMI 40 % 40 % 40 % - Consorcio Internacional Supervision Valle Sagrado 33 % 33 % 33 % - Consorcio Ecotec — GMI — PIM 30 % 30 % 30 % - Consorcio Ribereño Chinchaycamac — 40 % 40 % - Consorcio Supervisor GRH — — 64 % - Consorcio Ecotec — GMI — — 20 % Joint operations agreements listed above are operated in Peru, Chile and Colombia. On November 2, 2019, the operation contract of Consorcio Terminales of the subsidiary UNNA ENERGIA S.A., corresponding to the terminals of Pisco, Mollendo, Ilo, Cusco and Juliaca, was terminated, and the assets and operations were delivered to Petroperú. Currently, it is in the process of liquidating assets and liabilities. The main activities of the joint operations correspond to: 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. Cumbra Peru S.A. These joint operations were created exclusively to development of construction contracts. UNNA ENERGIA 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. Cumbra Ingenieria S.A. Engineering consulting services in, study and project execution, project management and Works supervision. The consolidated financial statements do not include any other type of entities in addition to those mentioned above, such as trust funds or special purpose entities. |
Segment Reporting
Segment Reporting | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Segment Reporting | 7 SEGMENT REPORTING Operating segments are reported consistently with the internal reports that are reviewed by the Corporation’s chief decision-maker; that is, the Executive Committee, which is led by the Corporate General Manager. This Committee acts as the maximum authority in operations decision making and is responsible for allocating resources and evaluating the performance of each operating segment. The Corporation’s operating segments are assessed by the activities of the following business units: (i) engineering and construction, (ii) infrastructure, (iii) real estate and (iv) parent company operations. As set forth under IFRS 8, reportable segments based on the level of revenue is: ‘engineering and construction’. However, the Corporation has voluntarily decided to report in all its operating segments as detailed in this Note. The revenues derived from foreign operations (Chile, Colombia y Mexico) comprise 24% of the Corporation’s total revenue reported in 2020 (19% to 2019). Sales between segments are carried out at arm’s length, are not material, and are eliminated on consolidation. The revenue from external parties is measured in a manner consistent with that in the income statement. Sale of goods relate to the real estate segment. Revenue from services relate to all other segments. Group sales and receivables are not concentrated in a few private customers. The principal activities of the Corporation in each operating segment are as follows: a) Engineering and construction: This segment includes from traditional engineering services such as structural, civil and design engineering, and architectural planning to advanced specialties including process design, simulation, and environmental services at three divisions; i) civil works, such as the construction of hydroelectric power stations and other large infrastructure facilities; (ii) electro-mechanic construction, such as concentrator plants, oil, and natural gas pipelines, and transmission lines; iii) building construction, such as office buildings, residential buildings, hotels, affordable housing projects, shopping centers, and industrial facilities. b) Infrastructure: The Corporation has long-term concessions or similar contractual arrangements in Peru for three toll roads, the Lima Metro, a wastewater treatment plant in Lima, four producing oil fields, a gas processing plant and operation and maintenance services for infrastructure assets. c) Real Estate: The Corporation develops and sells homes targeted to low and middle-income population sectors which are experiencing a significant increase in disposable income, as well as, office and commercial space to a lesser extent. d) Parent Company Operation: Corresponds to services provided to related entities of the Corporation such as strategic and functional advisory services and operational leasing of offices. The Executive Committee uses adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) to assess the performance of operating segments. In the years 2019 and 2020, additional provisions have been considered for some of the Corporation’s asses, such as impairment of investments, impairment of account receivables, impairment of goodwill, provision for civil repair and legal claims. EBITDA is reconciled to operating income (loss) before income taxes as follows: 2018 2019 2020 Net profit (loss) 57,415 (838,642 ) (190,344 ) Financial income and expenses 209,232 178,787 117,523 Income tax 110,993 303,371 58,444 Depreciation and amortization 206,520 219,817 197,125 Initial EBITDA 584,160 (136,667 ) 182,748 Extraordinary adjustments to EBITDA Impairment of investments — 261,924 — Impairment of accounts receivables — 332,862 102,148 Impairment of goodwill — 33,089 — Provisions: civil compensation and legal claims 73,499 127,147 89,084 Provisions for labor claims — — 7,434 Impairment recovery — (40,094 ) — Adjusted EBITDA 657,659 578,261 381,414 EBITDA for each segment is as follows: 2018 2019 2020 Engineering and construction 44,003 51,147 55,766 Infrastructure 409,626 403,554 290,335 Real estate 240,991 56,821 32,555 Parent company operations 49,671 (417,954 ) (93,931 ) Intercompany eliminations (86,632 ) 484,693 96,689 EBITDA 657,658 578,261 381,414 Backlog refers to the expected future revenue undersigned 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 The following table shows the Corporation’s financial statements by operating segments: Operating segments financial position Segment reporting Infrastructure As of December 31, 2019 Engineering and Energy Toll roads Transportation Water Real estate Parent 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 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 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 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 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 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 Energy Toll roads Transportation Water Real estate Parent 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 1,342 102,103 (218,159 ) 27,338 Other accounts receivable 323,084 27,900 23,631 13,220 197 10,446 35,051 2 433,531 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 1,492,252 163,694 213,387 367,610 8,316 541,703 258,531 (219,884 ) 2,825,609 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 1,322,865 (1,411,394 ) 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 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 53,536 5,123 262,165 Total non-current 1,109,599 511,053 440,074 635,836 20,110 120,223 2,207,747 (1,757,687 ) 3,286,955 Total assets 2,601,851 674,747 653,461 1,003,446 28,426 661,926 2,466,278 (1,977,571 ) 6,112,564 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 17,738 21,531 — 19,074 15,708 (216,420 ) 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 8,876 18,943 1,659 — — 492 62,787 — 92,757 Total current liabilities 1,843,158 118,057 143,477 85,616 993 249,816 279,652 (222,797 ) 2,497,972 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 2,762 23,357 4,654 — 183,232 Long-term accounts payable to related parties 104,432 — 836 36,297 24,207 — 186,886 (316,361 ) 36,297 Provisions 122,503 37,599 26,034 1,925 — — 148,548 — 336,609 Deferred income tax liability 25,576 36,793 1,518 39,020 — — — — 102,907 Total non-current 441,300 177,546 290,331 680,905 26,969 34,378 709,343 (341,476 ) 2,019,296 Total liabilities 2,284,458 295,603 433,808 766,521 27,962 284,194 988,995 (564,273 ) 4,517,268 Equity attributable to controlling interest in the Company 261,501 354,982 161,710 177,694 464 138,933 1,474,398 (1,302,076 ) 1,267,606 Non-controlling 55,892 24,162 57,943 59,231 — 238,799 2,885 (111,222 ) 327,690 Total liabilities and equity 2,601,851 674,747 653,461 1,003,446 28,426 661,926 2,466,278 (1,977,571 ) 6,112,564 Operating segment performance Segment Reporting Infrastructure For the year ended December 31, 2018 Engineering Energy Toll roads Transportation Water Real estate Parent Elimination Consolidated Revenue 1,960,863 560,506 733,148 586,329 3,270 630,130 367,600 (639,448 ) 4,202,398 Gross profit (loss) 62,095 120,360 107,092 122,567 592 287,959 29,251 (15,946 ) 713,970 Administrative expenses (136,066 ) (20,898 ) (35,626 ) (12,007 ) (296 ) (50,730 ) (95,653 ) 40,113 (311,163 ) Other income and expenses, net (13,508 ) 1,243 (11 ) 31 — (1,971 ) (52,298 ) 660 (65,854 ) Loss from the sale of investments (7 ) — — — — — — — (7 ) Operating (loss) profit (87,486 ) 100,705 71,455 110,591 296 235,258 (118,700 ) 24,827 336,946 Financial expenses (82,861 ) (15,631 ) (26,691 ) (20,604 ) 6 (11,859 ) (127,863 ) 24,735 (260,768 ) Financial income 15,122 4,593 2,560 35,147 554 3,556 32,363 (42,359 ) 51,536 Dividends — — — — — — 8,344 (8,344 ) — Share of profit or loss in associates and joint ventures 11,366 1,608 — — — (10 ) 84,138 (100,811 ) (3,709 ) (Loss) profit before income tax (143,859 ) 91,275 47,324 125,134 856 226,945 (121,718 ) (101,952 ) 124,005 Income tax 14,361 (26,275 ) (15,737 ) (38,017 ) (517 ) (69,166 ) 25,192 (834 ) (110,993 ) (Loss) profit from continuing operations (129,498 ) 65,000 31,587 87,117 339 157,779 (96,526 ) (102,786 ) 13,012 Profit (Loss) from discontinuing operations 44,096 — — — — — 3,608 (3,301 ) 44,403 (Loss) profit for the year (85,402 ) 65,000 31,587 87,117 339 157,779 (92,918 ) (106,087 ) 57,415 (Loss) profit from attributable to: Owners of the Company (86,857 ) 59,866 26,732 65,338 339 28,921 (85,716 ) (91,811 ) (83,188 ) Non-controlling 1,455 5,134 4,855 21,779 — 128,858 (7,202 ) (14,276 ) 140,603 (85,402 ) 65,000 31,587 87,117 339 157,779 (92,918 ) (106,087 ) 57,415 Operating segment performance Segment Reporting Infrastructure For the year ended December 31, 2019 Engineering Energy Toll roads Transportation Water Real estate Parent 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 (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 Energy Toll roads Transportation Water Real estate Parent 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 (43,573 ) (4,185 ) (79,576 ) 72 42 1,962 (57,648 ) 60 (182,846 ) Operating profit (loss) (30,563 ) 32,947 (55,302 ) 95,252 119 25,845 (92,057 ) 8,612 (15,147 ) Financial expenses (54,173 ) (17,525 ) (32,376 ) (9,316 ) (275 ) (12,647 ) (59,076 ) 28,445 (156,943 ) Financial income 8,792 2,239 4,326 1,586 897 4,584 47,506 (30,510 ) 39,420 Dividends — — — — — — 7,222 (7,222 ) — Share of profit or loss in associates and joint ventures — 2,391 — — — 34 (105,888 ) 104,233 770 (Loss) profit before income tax (75,944 ) 20,052 (83,352 ) 87,522 741 17,816 (202,293 ) 103,558 (131,900 ) Income tax (3,614 ) (7,500 ) (13,477 ) (26,681 ) (277 ) (2,854 ) (4,004 ) (37 ) (58,444 ) (Loss) profit for the year (79,558 ) 12,552 (96,829 ) 60,841 464 14,962 (206,297 ) 103,521 (190,344 ) (Loss) profit from attributable to: Owners of the Company (76,580 ) 9,176 (88,865 ) 45,631 464 1,391 (206,257 ) 97,169 (217,871 ) Non-controlling (2,978 ) 3,376 (7,964 ) 15,210 — 13,571 (40 ) 6,352 27,527 (79,558 ) 12,552 (96,829 ) 60,841 464 14,962 (206,297 ) 103,521 (190,344 ) Segments by geographical area 2018 2019 2020 Revenues: - Peru 3,348,824 3,496,799 2,517,928 - Chile 528,543 599,301 642,038 - Colombia 325,031 241,761 151,876 - Mexico — 2,187 4,202,398 4,337,861 3,314,029 Non-current - Peru 4,009,849 3,065,132 2,933,742 - Chile 142,819 235,803 245,727 - Colombia 157,839 123,758 107,486 4,310,507 3,424,693 3,286,955 |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Financial Instruments | 8 FINANCIAL INSTRUMENTS 8.1 Financial instruments by category The classification of financial assets and liabilities by category is as follows: As of 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 non-financial 1,358,282 1,178,577 - Financial assets related to concession agreements 748,365 775,677 - Accounts receivable from related parties 611,381 647,409 3,668,729 3,501,831 Financial assets related to concession agreements are presented in the consolidated statement of financial position as the line items short-term trade accounts receivable and long-term trade accounts receivable. As of 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 92,870 72,726 - Bonds 924,042 932,759 - Trade and other accounts payable non-financial 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 — 8.2 Credit quality of financial assets 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. As of December 31, the credit quality of financial assets is presented below: 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 Santander - Peru (A+) 114 54,478 Banco Scotiabank (A+) 64,106 52,448 Banco Interbank (A) 41,718 45,808 Banco de la Nacion (A) 56,114 22,882 Fondo de Inversion Alianza (AA+) 46 21,247 Santander Colombia (A-) 15,183 18,256 Banco Santander - Chile (AAA) 5,833 17,174 Banco Bogota (BBB-) 7,255 12,194 Banco de Credito e Inversiones - Chile (A-) 1,407 8,579 Bancolombia (BBB-) 115 8,516 Banco Scotiabank - Chile (AAA) 9,801 2,114 Credicorp Capital Colombia (AAA) 44,338 — JP Morgan (A+) 17,853 — Otros 6,676 5,653 943,714 896,832 For banks in Peru, these risk ratings are obtained from the risk rating agencies authorized by the Superintendence of Banking, Insurance and AFP (SBS). For banks in Chile, ratings are obtained from the risk rating agencies authorized by the Superintendence of Securities and Insurance (SVS) of Chile (Fitch Chile Clasificadora de Riesgo Ltda. and ICR International Credit Rating Cia Clasificadora de Riesgo Ltda.). For banks in Colombia, ratings are obtained from the following financial institutions: Fitch Ratings, Value and Risk Rating S.A., BRC Standard and Poor’s Rating and Technical Committe of BRC Investor Services S.A. SCV. (*) The difference between the balances shown and the balances of the statement of financial position correspond to cash and remittances in transit (Note 9). The credit quality of customers is assessed in three categories (internal classification): 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 The total balance of trade accounts receivable and accounts receivable from related parties is subject to the terms and conditions of the respective contract, none of which has been renegotiated. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Cash and Cash Equivalents | 9 CASH AND CASH EQUIVALENTS As of December 31, this account comprises: 2019 2020 Cash on hand 1,323 996 Remittances in-transit 5,664 2,340 Bank accounts 225,101 300,552 Escrow accounts (a) 507,982 471,339 Deposits in financial institutions (b) 210,631 124,941 950,701 900,168 (a) The Corporation maintains trust accounts in local and foreign banks that includes reserve funds for bond payments issued by the subsidiaries Tren Urbano de Lima S.A. and Norvial S.A. for the year 2020 S/125 million and S/28 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 192,069 233,955 Infrastructure projects 84,927 49,036 507,982 471,339 (b) As of December 31 i) Savings Account Financial entities 2019 2020 Cumbra Peru S.A. Credicorp Capital Colombia SA 7,588 151 Cumbra Peru S.A. Bancolombia S.A. 36,751 29,439 Cumbra Peru S.A. Banco de Bogota S.A. 72 37 Cumbra Peru S.A. Alianza Fiduciaria S.A. 46 49 44,457 29,676 ii) Time deposits have maturities less than 90 days and may be renewed upon maturity. These deposits earn interest that fluctuates between 0.15% and 2.70%. Financial entities Interest 2019 2020 Tren Urbano de Lima S.A. Banco de Credito del Peru S.A. 2.70 % 32,300 65,000 Tren Urbano de Lima S.A. BBVA Banco Continental S.A 69,531 - Norvial S.A. Banco de Credito del Peru S.A. 0.25 % 4,763 7,429 AENZA S.A.A. Banco de Credito del Peru S.A. 2.40 % 5,312 6,500 Concesionaria la Chira S.A. BBVA Banco Continental S.A 1.65 % - 6,250 Survial S.A. Banco de Credito del Peru S.A. 0.15 % 15,400 4,800 Concesion Canchaque S.A.C. Banco de Credito del Peru S.A. 0.25 % 662 4,381 UNNA ENERGIA S.A. Banco de Credito del Peru S.A. 0.50 % - 905 Cumbra Peru S.A. Banco de Credito del Peru S.A. 28,213 - Cumbra Ingenieria S.A. Banco de Credito del Peru S.A. 9,993 - 166,174 95,265 The above figures are reconciled with the amount of cash shown in the consolidated statement of cash flows at the end of the year as follows: 2018 2019 2020 Cash and cash equivalent on consolidated statement of financial position 807,214 950,701 900,168 Bank overdrafts (119 ) — — Balances per consolidated statement of cash flows 807,095 950,701 900,168 |
Trade Accounts Receivables, Net
Trade Accounts Receivables, Net | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Trade Accounts Receivables, Net | 10 TRADE ACCOUNTS RECEIVABLES, NET As of December 31, this account comprises: 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 The fair value of current accounts receivable is similar to their book value because their average maturity period is less than 60 days. These current accounts receivable do not accrue interest and do not have specific guarantees. As of December 31, 2020, trade accounts receivable correspond mainly to Tren Urbano de Lima S.A. in S/743.8 (S/716.1 million to 2019), Cumbra Peru S.A. in S/435.8 million (S/575.5 million as of 2019), Adexus S.A. in S/91.7 million (S/118.9 million as of 2019), Cumbra Ingenieria S.A. in S/43.2 million (S/53.3 million as of 2019), Viva Negocio Immobiliario S.A. in S/40.2 million (S/83.6 million as of 2019), UNNA ENERGIA S.A. in S/37.6 million (S/63.4 million as of 2019), and others in S/41.5 million (S/83 million to 2019). Trade accounts receivable of Tren Urbano de Lima S.A. includes the financial asset related to contractual right, for the amount of S/590.1 million (S/579.8 as of December 31, 2019). a) The detail of the age of the commercial receivables net of impairment corresponds as follows: 2019 2020 Current 817,233 718,220 0 to 30 days past due 45,922 5,737 31 to 90 days past due 27,364 6,801 91 to 120 days past due 1,319 2,279 121 to 360 days past due 10,502 4,185 Over 360 days past due 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, as follows: 2019 2020 Cumbra Peru S.A. 384,660 315,878 Concar S.A.C. 10,737 6,298 Cumbra Ingenieria S.A. 24,787 25,823 UNNA ENERGIA S.A. 1,657 1,512 Adexus S.A. 78,133 63,853 499,974 413,364 Below are the unbilled receivables by the subsidiaries grouped by the main projects: 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 S.A. 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 to the following: 2019 2020 Tren Urbano de Lima 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 d) The movement of impairment in trade accounts receivable is as follows: 2018 2019 2020 Balance at January, 1 (17,227 ) (7,633 ) (8,422 ) Impairment, net (Note 26.ii) (3,065 ) (955 ) (19,772 ) Impairment, net (Note 28.b) — — (33,874 ) Write-off 12,873 12 5,653 Exchange difference (214 ) 37 (212 ) Translation adjustments — 117 (3 ) Balance at December, 31 (7,633 ) (8,422 ) (56,630 ) e) The no current unbilled receivables from Tren Urbano de Lima S.A. to the Peruvian State, which is measured at its cost amortized, accrued interest at a rate of 7.7% rate used in a financial instrument of similar characteristics (similar term, currency and counterparty risk) The fair value and carrying amount for this concept are detailed below: Carrying amount Fair value 2019 2020 2019 2020 Tren Urbano de Lima 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). |
Work in Progress, Net
Work in Progress, Net | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Work in Progress, Net | 11 WORK IN PROGRESS, NET As of December 31, this account comprises: 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 costs 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 Cumbra Peru 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 Cumbra Ingenieria S.A. (S/19.9 million as of December 31, 2019). Below are the work in progress grouped by the main projects: 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 |
Transactions with Related Parti
Transactions with Related Parties and Joint Operators | 12 Months Ended |
Dec. 31, 2020 | |
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Transactions with Related Parties and Joint Operators | 12 TRANSACTIONS WITH RELATED PARTIES AND JOINT OPERATORS a) Transactions with related parties Major transactions between the Company and its related parties are summarized as follows: 2018 2019 2020 Revenue from sales of goods and services: - Joint operations 56,560 44,130 15,903 - Associates 1,704 108 5 58,264 44,238 15,908 Purchase of goods and services: - Joint operations 601 1,765 — - Associates 2,130 — 1,225 2,731 1,765 1,225 Transactions between related parties are made based on current price lists and the terms and conditions are the same as those agreed with third parties. b) Key Management compensation Key Management includes directors (executives and non-executives), c) Balances at the end of the year were: As of December 31, As of December 31, 2019 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 Ferrovias S.A. — 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 Gasoducto Sur Peruano S.A. (GSP) 572,624 — 620,071 — Ferrovias S.A. — — — 12,862 Ferrovias Participaciones S.A. — 22,583 — 23,435 Other minors 2,099 — — — Non-current 574,723 22,583 620,071 36,297 Accounts receivable and payable are mainly of current maturity and have no specific guarantees; except for accounts receivable from GSP and Ferrovías participations. These balances do not generate interest considering their maturity in the short term. The non-current a-i). non-current Transactions with non-controlling |
Other Accounts Receivable
Other Accounts Receivable | 12 Months Ended |
Dec. 31, 2020 | |
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Other Accounts Receivable | 13 OTHER ACCOUNTS RECEIVABLE As of December 31, this account comprises: 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 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 - Cumbra Peru 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 ) (102,050 ) (27,415 ) (98,626 ) (3,283 ) (3,424 ) 727,906 761,754 454,474 433,531 273,432 328,223 The fair value of the other short-term accounts receivable is similar to their book value due to their short-term maturity. The non-current non-financial non-current The maximum exposure to credit risk at the reporting date is the carrying amount of each class of other accounts receivable mentioned. The Corporation does not request guarantees. Below is a description and composition of the main accounts receivable: (a) Advance to suppliers - corresponds mainly to the following: Current 2019 2020 Alstom Transporte — Linea 1 2,597 5,786 Advances — Refineria Talara 48,303 6,951 Advances — joint operations vendors 49,181 36,803 Others 35,400 26,660 135,481 76,200 (b) Income tax on-account Total Current Non-current 2019 2020 2019 2020 2019 2020 Cumbra Peru S.A. 45,628 35,599 45,628 35,599 — — Cumbra Ingenieria S.A. 7,203 3,532 7,203 3,532 — — UNNA ENERGIA S.A. S.A. 2,400 1,883 2,400 1,883 — — Concar S.A. 3,709 3,340 3,709 3,340 — — Viva Negocio Inmobiliario S.A. 3,485 1,351 3,485 1,351 — — AENZA 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 (c) Tax credit related to VAT on the following subsidiaries: Total Current Non-current 2019 2020 2019 2020 2019 2020 Cumbra Peru S.A. 12,963 12,868 12,963 12,868 — — Tren Urbano de Lima S.A. 11,970 3,335 11,970 3,335 — — AENZA 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 — — Cumbra Ingenieria S.A. 1,513 13,754 1,513 13,754 — — Viva Negocio Inmobiliario S.A. 6,874 8,111 513 953 6,361 7,158 UNNA ENERGIA S.A. 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 Management considers that VAT credit will be recovered in the regular course of future operations of subsidiaries. (d) Guarantee deposits Corresponds to funds held by customers for construction contracts mainly from the subsidiary GyM S.A. These deposits are retained by customers to ensure the subsidiary’s compliance with its obligations under the contracts. The amounts retained will be recovered once the work is completed. 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 3,299 189,210 217,441 104,965 156,123 84,245 61,318 (e) Third-party claims Total Current Non-current 2019 2020 2019 2020 2019 2020 Tecnicas Reunidas — Talara (e.1) — 53,635 — — — 53,635 Municipalidad Metropolitana de 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 (e.1) Tecnicas Reunidas - Talara Cumbra Peru S.A. filed a lawsuit case against Tecnicas Reunidas for approximately US$78 million as indemnification for damages as a consequence of several contractual breaches. Tecnicas Reunidas has filed a counterclaim for approximately US$ 81 million alleging that Cumbra Peru S.A. has breached the subcontract entered between the two companies. On December 28, 2020, Tecnicas Reunidas executed two letters of guarantee issued by Banco Santander, for US$16 million for Performance and the second letter for advance payment for US$7.7 million, despite the fact that the obligations guaranteed by the letter of guarantee were being litigated in the process described in this paragraph. As of December 31, 2020, the balance of this item at face value amounts to US$17.3 million equivalent to S/62.5 million (at present value the balance amounts to US$14.8 million equivalent to S/53.6 million). (e.2) Municipalidad Metropolitana de Lima Includes the reclassification of net intangible assets for S/21.8 million (Note 17), work in progress - related to concession agreements for S/23.4 million (Note 11-a), 28-b). (f) Other accounts receivable from Petroperu S.A. It corresponds to accounts receivable to Petroperu S.A., for the additional investments of the Terminales del Peru Consortium of the subsidiary UNNA ENERGIA S.A. (g) Restricted funds As of December 31, 2020, includes restricted funds of S/19.1 million of the Company and S/0.9 million of the subsidiary Viva Negocio Inmobiliario S.A. for bank certificates under guarantee and S/7.3 corresponds to the bank accounts for the reserve account of the Concesionaria La Chira S.A. and others subsidiaries for S/1.6 million (S/7.7 million, S/0.9 million, S/7.3 million and S/0.5 million as of December 31, 2019, respectively). (h) Consorcio Panorama Corresponds to the settlement agreement of the Consorcio Panorama signed by Viva Negocio Inmobiliario S.A. and Inversiones Maje S.A.C. on December 14, 2018. This balance includes the return of contributions and the profit earned, based on future sales of the properties held in the project. (i) Impairment The movement in impairment of other receivables during 2018, 2019 and 2020 was as follows: Total Guaranties Retention Claims to third parties 2018 2019 2020 2018 2019 2020 2018 2019 2020 Balance at January, 1 (1,398 ) (25,567 ) (30,698 ) — — 165 (1,398 ) (25,567 ) (30,863 ) Impairment of Concar S.A.C. (Note 26.ii) (665 ) (1,457 ) (11,431 ) — — — (665 ) (1,457 ) (11,431 ) Impairment of Sucursal Colombia (Note 26.ii) — (3,283 ) — — — — — (3,283 ) — Impairment of Cumbra Peru S.A. (Note 26.ii) (24,169 ) (937 ) (828 ) — — — (24,169 ) (937 ) (828 ) Impairment of Viva Negocio Inmobiliario (19,418 ) — — — — — (19,418 ) — — Impairment of other minors (Note 26.ii) — (27 ) (59 ) — — — — (27 ) (59 ) 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) — — (55,847 ) — — — — — (49,625 ) Impairment of other minors (Note 28.b) — — (513 ) — — — — — (513 ) Reversal of impairment (Note 28.b) — 32 — — — — — 32 — Write-off 20,083 — 12,205 — — 12,530 20,083 — (325 ) Exchange difference — 387 (2,188 ) — — — — 387 (2,188 ) Translations adjustments — 154 (180 ) — 165 (184 ) — (11 ) 4 Balance at December, 31 (25,567 ) (30,698 ) (102,050 ) — 165 — (25,567 ) (30,863 ) (95,828 ) |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2020 | |
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Inventories | 14 INVENTORIES As of December 31, this account comprises: 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 Land Land comprises properties, net of impairment and includes properties for the development of the following projects of the subsidiary Viva Negocio Inmobiliario Viva 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 (a) Plot of land of 107 hectares that corresponds to Inmobiliaria Almonte S.A.C. and a land 210 hectares that corresponds to Inmobiliaria Almonte 2 S.A.C., both lands located in the district of Lurin, province of Lima, destined for the purposes of industrial development and public housing. (b) Land located on David Samanez Ocampo street N° 140 in San Isidro district where a 15-story (c) Land located in Chimbote of 11.5 hectares for the development of a real estate social housing project. (d) Land located in Paul Harris St. N°332 and N°336 in Barranco district, for the development of a residential building project. (e) Land located in the district of Veintiséis de Octubre, province of Piura with an area of 65,096 m2 for the development of Los Parques de Piura IV project. Real estate - work in progress As of December 31, real state work in progress comprises the following projects: 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 During 2020, the Corporation has capitalized financing costs of these construction projects (Note 2.21) amounting to S/3.8 million at annual interest rates between 7% and 11% (S/3.7 million in 2019 at interest rates between 7% and 12%). Finished properties As of December 31, the balance of finished properties consists of the following investment properties: 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). Construction materials As of December 31, 2020, the construction materials correspond mainly to projects of the subsidiary Cumbra Peru S.A. for S/53.1 million (Cumbra Peru S.A. for S/56.2 million as of December 31, 2019). |
Investments in Associates and J
Investments in Associates and Joint Ventures | 12 Months Ended |
Dec. 31, 2020 | |
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Investments in Associates and Joint Ventures | 15 INVESTMENTS IN ASSOCIATES AND JOINT VENTURES As of December 31, this account comprises: 2019 2020 Associates 28,875 27,246 Joint ventures 8,160 8,270 37,035 35,516 The amounts recognized in the income statement as the value of the equity interest are as follows: 2019 2020 Associates (220,993 ) (1,635 ) Joint ventures 2,219 2,405 (218,774 ) 770 a) Investment in associates Set out in the table below are the associates of the Corporation as of December 31, 2019 and 2020 the associates listed below have share capital solely consisting of common shares, which are held directly by the Corporation. None of the associates are listed companies; therefore, there is no quoted market price available for their shares. Carrying amount Interest in capital At December 31, Entity Class 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 Maje S.A.C. Common 9.59 9.59 2,306 2,283 Otros Common 327 333 28,875 27,246 (*) Mainly corresponds to an write-off The movement of the investments in associates is as follows: 2018 2019 2020 Opening balance 250,053 250,282 28,875 Contributions received 5,616 — — Equity interest in results (5,308) (220,993) (1,635) Decrease in capital (30) — — Impairment of investment — (374) (38) Conversion adjustment (49) (40) 44 Final balance 250,282 28,875 27,246 The most significant associates are described as follows: i) Gasoducto Sur Peruano S.A. In November 2015, the Corporation acquired a 20% interest in Gasoducto Sur Peruano S.A. (hereinafter “GSP”) and obtained a 29% interest in Consorcio Constructor Ductos del Sur (hereinafter “CCDS”) through its subsidiary Cumbra Peru S.A. GSP signed on July 22, 2014, a concession contract with the Peruvian Government to build, operate and maintain the pipelines transportation system of natural gas to meet the demand of cities in the south of Peru (hereinafter, the “Concession Contract”). Additionally, GSP signed an engineering, procurement, and construction contract with CCDS. The Corporation made an investment of US$242.5 million and was required to assume 20% of the performance guarantee established in the concession contract for US$262.5 million and 21.49% of the guarantee for a bridge loan obtained by GSP of US$600 million. Early termination of the Concession Agreement On January 24, 2017 the Ministry of Energy and Mines (hereinafter “MEM”) notified the early termination of the Concession Contract under its clause 6.7 based on GSP’s failure to provide evidence of the project’s financial closing within the contractual deadline and proceeded to the immediate enforcement of the performance guarantee. This situation generated the enforcement of the guarantees provided by the Company for US$52.5 million nominal value and US$129 million nominal value to secure GSP’s obligation with its lenders under a bridge loan granted to it. Under the Concession Agreement, the guarantees were paid by the Company on behalf of GSP, therefore the Company recognized a right to collect from GSP an amount equal to US$181.5 million nominal value that was recorded in 2016 as accounts receivable from related parties. On October 11, 2017, GSP and MEM entered into an agreement to deliver the concession asset pursuant to the Concession Agreement. These assets included all the works, equipment, facilities and engineering studies needed for the development of the project. After the termination of the Concession Contract, the Peruvian Government should have appointed a recognized international audit firm to calculate the net book value of the concession assets (hereinafter “VCN”) and conducted up to three public auctions of the GSP concession pursuant to clause 20 of the Concession Agreement. However, as of the date hereof, the Peruvian Government continues to be in breach of such contractual obligation. An independent audit firm engaged by GSP calculated the VCN to equal US$2,602 million as of December 31, 2016. On December 4, 2017, GSP entered into a bankruptcy proceeding before the National Institute for the Defense of Competition and Intellectual Protection of Peru. The Corporation registered a claim for accounts receivable for US$0.4 million and an additional accounts receivable of US$169.3 million that is held in trust in benefit of the Company’s creditors. The process is in the debt recognition stage to determine the parties who will be entitled to participate in the Creditors’ Assembly to convoked under the mentioned bankruptcy proceeding. On December 21, 2018, the Company. submitted to the Peruvian Government a request for direct negotiations demanding the payment of the VCN in favor of GSP therefore, commencing the cool off period under the Concession Contract. This request is based on the right that creditors have under article 1219 of the Peruvian Civil Code to initiate actions against its debtor’s debtors that the former to collect a credit that would allow the payment of the outstanding debt. Upon the conclusion of the contractual cool off period, the Company filed on October 18, 2019 a request for arbitration before CIADI. The Company withdrew its request for arbitration on December 27 of the same year the preliminary plea bargain agreement entered on the same date by the Company with the Prosecutor and the Ad hoc State Counsel (Note 1). The fair value of the investment in GSP, as Corporate associate, is based on the amount of the VCN, taking into consideration the payments anticipated in the insolvency proceedings, the subordination contracts and the loan assignment agreements entered into by the Company and its partners in the project. Based on management’s estimate of such payments, an impairment of the investment value for US$220 million (S/739 million), corresponding to the year end 2019 US$65 million (S/218 million). In addition, Management has applied, at the consolidated financial statements of the company, an impairment of US$81.5 million (S/276 million) to the long-term account receivable from GSP, and also discount under the amortized cost for US$17 million (S/58 million). In addition, write-off As of December 31, 2020, the fair value of the investment in GSP was determined to be US$88.6 million, equivalent to S/320 million (as of December 31, 2019 US$83 million, equivalent to S/275 million), the Corporation’s management maintains the 8-year In the opinion of our internal and external legal advisors, any proceeds received by GSP from the Peruvian Government derived from the former’s obligation to reimburse the VCN of the concession assets would not be subject to retention under Law 30737 since this payment does not include a net profit margin, nor does it correspond to the sale of assets. Such withdrawal does not imply the loss of the Company’s right of collection against GSP nor does it restrict, limit or obstruct the possibility that GSP has of exercising its rights against the Government in the future. ii) Concesionaria Chavimochic S.A.C. The entity was awarded the concesion of the Chavimochic irrigation project, including a) design and construction of the work required for the third phase of the Chavimochic irrigation project in the province of La Libertad; b) operation and maintenance of works; and c) water supply to the Project users. Construction activities started in 2015; the effective concession period is 25 years, and the total investment amounts was estimated in US$647 million. The civil works of the third stage of the Chavimochic Irrigation Project were structured in two phases. To date, the works of the first phase (Palo Redondo Dam) are 70% completed. However, at the beginning of 2017, the procedure for early termination of the Concession Contract was initiated due to the breach of contract by the Grantor, and all activities were suspended in December 2017. Due to the fact that no agreement was reached, the Concessionaire initiated an arbitration process at the UNCID. The arbitration proceedings are suspended, as a consequence of the of the National Emergency. Moreover, from 2018 to date, the Peruvian Government (“the Grantor”) has been evaluating the modification of the Concession Contract, to determine a mechanism that allow the completion of the project, without resolution as of to date. Finally, the Grantor and the Ministry of Agriculture and Irrigation (MINAGRI), and the Chavimochic Special Project, have signed an Agreement in order to allow MINAGRI to subrogate the ownership of the Project, within the framework of the provisions of the Emergency Decree N ° 021-2020. The following table shows the financial information of the principal associates: Summarized financial information for associates – Concesionaria 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 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 ) b) Investment in Joint Ventures Set out below are the joint ventures of the Corporation as of December 31: 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 Common 50.00 50.00 29 34 Others — — 125 156 8,160 8,270 The movement of the investments in joint ventures was as follows: 2018 2019 2020 Opening balance 18,618 7,483 8,160 Equity interest in results 1,599 2,219 2,405 Disposal of Investment (10,112 ) — — Dividends received (1,823 ) (1,517 ) (2,318 ) Conversion adjustment 79 (14 ) 23 Impairment of investment (878 ) (11 ) — Final balance 7,483 8,160 8,270 The following table shows the financial information of the principal joint ventures: Summarized financial information for joint ventures 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 37,620 35,715 Total non-current (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 6,500 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 The Corporation received dividends in 2020 from Logística Quimicos del Sur S.A. for S/2.3 million (S/1.5 million in 2019 and S/1.8 million in 2018). |
Property, Plant and Equipment,
Property, Plant and Equipment, Net and Right-of-Use Assets | 12 Months Ended |
Dec. 31, 2020 | |
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Property, Plant and Equipment, Net and Right-of-Use Assets | 16 PROPERTY, PLANT AND EQUIPMENT, NET AND RIGHT— OF— USE ASSETS 16.1. PROPERTY, PLANT AND EQUIPMENT The movement in property, plant and equipment accounts and its related accumulated depreciation for the year ended December 31, 2018, 2019 and 2020 is as follows: Land Buildings Machinery Vehicles Furniture Other Replacement Work in Total At January 1, 2018 Cost 23,951 161,057 995,155 380,503 63,727 195,142 22,938 28,713 1,871,186 Accumulated depreciation and impairment (273 ) (48,498 ) (562,333 ) (198,720 ) (48,832 ) (146,433 ) (10 ) (352 ) (1,005,451 ) Net carrying amount 23,678 112,559 432,822 181,783 14,895 48,709 22,928 28,361 865,735 Net initial carrying amount 23,678 112,559 432,822 181,783 14,895 48,709 22,928 28,361 865,735 Additions (i) — 13,216 11,318 9,377 2,145 14,122 5,577 27,431 83,186 Desconsolidation, net (3,183 ) (24,295 ) (109,425 ) (110,540 ) (547 ) (10,421 ) — (715 ) (259,126 ) Reclassifications — 17,129 16,626 (1,415 ) (1,430 ) 75 (10,577 ) (20,408 ) — Deduction for sale of assets — (3,527 ) (55,567 ) (32,399 ) (2,164 ) (2,200 ) (124 ) — (95,981 ) Disposals, net — (9,723 ) (2,607 ) (1,418 ) (292 ) (461 ) — (118 ) (14,619 ) Depreciation charge — (14,257 ) (67,430 ) (19,391 ) (3,954 ) (18,068 ) — — (123,100 ) Impairment loss — — (5,664 ) — — — — — (5,664 ) Depreciation for sale deductions (ii) — 1,189 37,452 14,868 1,813 1,702 — — 57,024 Translations adjustments (286 ) 3,383 (3,310 ) (788 ) (134 ) (2,415 ) — (321 ) (3,871 ) Net final carrying amount 20,209 95,674 254,215 40,077 10,332 31,043 17,804 34,230 503,584 At December 31, 2018 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 Land Buildings Machinery Vehicles Furniture Other Replacement and in-transit Work in Total At January 1, 2019 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 At December 31, 2019 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 Land Buildings Machinery Vehicles Furniture Other Replacement and in-transit Work in Total At January 1, 2020 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 At December 31, 2020 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 (i) In 2018, 2019 and 2020, additions to cost correspond to acquisitions of fixed assets made under financial leases or direct purchases. (ii) In 2020 the sale of fixed assets which is shown in the statement of income under the caption “other income and expenses, net” (Note 28) amounted to S/9.1 million (S/12.7 million in 2019 and S/31.9 million in 2018), generating a gain of S/2.3 million (gain of S/6.1 million in 2019 and loss of S/7.1 million in 2018). (iii) During 2019, a property owned by Morelco S.A.S. (subsidiary of Cumbra Peru S.A.) was transferred to investment properties to the leased to a third party. During 2020, corresponds to transfers received for software, and expenses related to UNNA ENERGIA S.A.’s well development. Depreciation of property, plant and equipment and investment property is distributed in the income statement as follows: 2018 2019 2020 Cost of services and goods (Note 26) 91,249 108,066 90,146 Administrative expenses (Note 26) 6,600 4,252 8,358 (+) Depreciation discontinued operations 27,570 — — Total depreciation 125,419 112,318 98,504 (-) Depreciation related to investment property (2,319) (2,356 ) (2,413 ) (-) Depreciation related to right-of-use assets (Note 16.2) — (29,396 ) (17,531 ) Total depreciation of property, plant and equipment 123,100 80,566 78,560 As of December 31, 2020, the Corporation had fully depreciated assets in use of S/119.1 million (S/135.2 million in 2019 and S/424.5 million in 2018). 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, 2018 2019 2020 Cost of acquisition 86,881 68,553 64,623 Accumulated depreciation (38,026 ) (46,773 ) (52,165 ) Net carrying amount 48,855 21,780 12,458 Other financial liabilities are secured by property, plant and equipment for S/79.7 million (S/111.9 million in 2019 and S/162.9 million in 2018). 16.2. RIGHT-OF-USE As of December 31, 2019 and 2020, the Corporation recognized assets and liabilities for right-of-use, Buildings Machinery Vehicles Total At January 1, 2019 Additions 80,279 18,597 20,830 119,706 Depreciation (13,568 ) (6,899 ) (8,929 ) (29,396 ) Translations adjustments 271 — — 271 Net final carrying amount 66,982 11,698 11,901 90,581 At December 31, 2019 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 At January 1, 2020 66,982 11,698 11,901 90,581 Additions 6,681 876 4,518 12,075 Depreciation (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 At December 31, 2020 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 The expense for depreciation of right-of-use 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: Leases under 12 months: S/351.7 million (S/167.3 million in 2019). Leases of low value assets: S/5.1 million (S/7 million in 2019). Likewise, leases whose payments are entirely variable, which depend on their future performance or use, were excluded, during the year 2020 the expenditure was S/48.7 million (in 2019, S/0.6 million). |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Intangible Assets | 17 INTANGIBLE ASSETS The movement in intangible assets and the related accumulated amortization as of December 31, 2018, 2019 and 2020 is as follows: Goodwill Trade- Concession Contractual Software and Costs of Land Other Total At January 1, 2018 Cost 193,862 110,486 879,289 100,640 66,301 400,429 13,288 51,983 1,816,278 Accumulated amortization and impairment (77,058 ) (45,386 ) (351,062 ) (66,375 ) (48,677 ) (283,696 ) — (3,954 ) (876,208 ) Net cost 116,804 65,100 528,227 34,265 17,624 116,733 13,288 48,029 940,070 Net initial cost 116,804 65,100 528,227 34,265 17,624 116,733 13,288 48,029 940,070 Additions — — 23,803 — 3,267 68,544 — 5,067 100,681 Capitalization of interest — — 3,361 — — — — — 3,361 Desconsolidation, net (20,086 ) — (20,716 ) — (10,153 ) — — (219 ) (51,174 ) Transfers from assets under construction — — — — 199 — — (199 ) — Derecognition - cost — — (16 ) — (1,941 ) (4,126 ) — — (6,083 ) Amortization — — (50,776 ) (7,996 ) (5,834 ) (41,930 ) — (5,536 ) (112,072 ) Translations adjustments (3,430 ) (4,301 ) 199 (303 ) 830 — — 272 (6,733 ) Net final cost 93,288 60,799 484,082 25,966 3,992 139,221 13,288 47,414 868,050 At December 31, 2018 Cost 170,346 106,185 885,915 100,337 22,565 464,847 13,288 55,131 1,818,614 Accumulated amortization and impairment (77,058 ) (45,386 ) (401,833 ) (74,371 ) (18,573 ) (325,626 ) — (7,717 ) (950,564 ) Net cost 93,288 60,799 484,082 25,966 3,992 139,221 13,288 47,414 868,050 Goodwill Trade- Concession Contractual Software and Costs of Land Other Total At January 1, 2019 Cost 170,346 106,185 885,915 100,337 22,565 464,847 13,288 55,131 1,818,614 Accumulated amortization and impairment (77,058 ) (45,386 ) (401,833 ) (74,371 ) (18,573 ) (325,626 ) — (7,717 ) (950,564 ) Net cost 93,288 60,799 484,082 25,966 3,992 139,221 13,288 47,414 868,050 Net initial cost 93,288 60,799 484,082 25,966 3,992 139,221 13,288 47,414 868,050 Additions — — 26,645 — 5,016 102,022 — 5,212 138,895 Capitalization of interest expenses — — 2,725 — — — — 802 3,527 Transfers from assets under construction — — — — 672 — — (672 ) — Derecognition - net (930 ) (8,358 ) — (11,665 ) (2,015 ) — — (2,996 ) (25,964 ) Amortization — — (50,102 ) (3,682 ) (7,529 ) (43,552 ) — (2,634 ) (107,499 ) Impairment loss (33,089 ) — (3,213 ) — — — (2,468 ) — (38,770 ) Impairment reversal — 20,676 — — — — — — 20,676 Translations adjustments (1,902 ) (2,422 ) (16,187 ) (10,118 ) 21,251 (3,717 ) — 8,407 (4,688 ) Net final cost 57,367 70,695 443,950 501 21,387 193,974 10,820 55,533 854,227 At December 31, 2019 — — — — — — — — — 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 Goodwill Trade- Concession Contractual Software and Costs of Land Other Total At January 1, 2020 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 At December 31, 2020 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 a) Goodwill 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: 2018 2019 2020 Engineering and construction 71,621 36,632 38,211 Electromechanical 20,737 20,735 20,735 IT equipment and services 930 — 0 93,288 57,367 58,946 As a result of management’s annual impairment tests on goodwill, the recoverable amount of cash-generating units was determined on the basis of the greater their value in use and fair value less disposal costs. The value in use was determined on the basis of expected future cash flows generated by the evaluation of CGUs. As a result of these evaluations, in 2020, no impairment was identified. In 2019, an impairment was identified in Morelco S.A.S. for S/33 million and Adexus S.A. for S/0.9 million. Through the subsidiary Cumbra Peru S.A., the loss due to deterioration in Morelco was generated by the decrease in expected flows as a result of the reduction in the contracting of new projects during the year (“Backlog”). Additionally, the Company impaired the value of goodwill in Adexus, because the subsidiary submitted a request for bankruptcy reorganization at the Justice Court of Chile, according to Law 20.720 (Note 36). In 2018, no provision for impairment was recorded. The main assumptions used by the Corporation to determine fair value less disposal costs and value in use are as follows: Engineering Electro- % % 2018 Gross margin 12.67 % 7.63 % Terminal growth rate 3.00 % 2.00 % Discount rate 12.55 % 11.44 % 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 % These assumptions have been used for the analysis of each CGUs for a period of 5 years. Management determines budgeted gross margins based on past results and market development expectations. Average growth rates are consistent with those prevailing in the industry. The discount rates used are pre-tax post-tax, b) Trademarks This item mainly includes the brands acquired in the business combination processes with Vial y Vives S.A.C. (S/75.4 million) in August 2013, Morelco S.A.S. (S/33.33 million) in December 2014 and Adexus S.A. (S/9.1 million) in August 2016. Management determined that the brands from Vial y Vives, Morelco and Adexus have indefinite useful lives; consequently, annual impairment tests are performed on these intangible assets as explained in paragraph a) above. As a result of these evaluations, in 2020, no impairment was identified. In 2019, the Vial y Vives - DSD the brand impairment was reversed for S/20.7 million (equivalent to CLP4,782 million). Management considered that the market value of the brand has increased due to the increase of projects in execution and projects and award process. Additionally, in 2019, the Company impaired the value of the Adexus brand, because the subsidiary submitted a request for bankruptcy reorganization before the courts of justice of Chile, under the law 20.720 of that country (Note 36). In 2018, no provision for impairment was recorded. The main assumptions used by the Corporation to determine fair value less cost of sales are as follows: Engineering and construction Morelco Vial y Vives- DSD % % 2018 Average revenue growth rate 12.25 % 19.58 % Terminal growth rate 3.00 % 3.00 % Discount rate 12.55 % 14.00 % 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 % c) Concessions As of December 31, mainly include intangibles of Norvial S.A.: 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 Additionally, the reclassification presented includes S/21.8 million from Concesionaria Via Expresa Sur S.A. which was transferred to other accounts receivable (Note 13.e). d) Cost of well’s development Through one of its subsidiaries, UNNA ENERGIA S.A., the Corporation operates and extracts oil from two fields (Lot I and Lot V) located in the province of Talara, in northern Peru. Both fields are operated under long-term service contracts in which the Corporation provides hydrocarbon extraction services to Perupetro. The expiration date of these contracts are December 2021 and October 2023 for Lot I and Lot V, respectively. On December 10, 2014, the Peruvian State granted the subsidiary UNNA ENERGIA S.A. the right to exploit for 30 years the oil lots III and IV (owned by the Peruvian State - Perupetro) located in the Talara basin, Piura. The investment committed is estimated at US$400 million and corresponds to the drilling of 230 wells in Lot III and 330 wells in Lot IV. The drilling began in April 2015 in both lots. As part of the Corporation’s obligations under the infrastructure, it is necessary to incur certain costs to prepare the wells located in Lots I, III, IV and V. These costs are capitalized as part of the intangible assets with a value of S/41 million during 2020 (S/108 million in 2019 and S/68 million in 2018), which includes the capitalization of the provision for dismantling wells and instalations in Lots I, III, IV and V, which during 2020 has not had a significant movement (S/36 million during 2019). The lots are amortized on the basis of the useful lives of the wells (determined on the remaining terms for lots I and V and units produced for lots III and IV), until the term of contract with Perupetro. e) Amortization of intangible assets Amortization of intangibles is broken down in the consolidated income statement as follows: 2018 2019 2020 Cost of sales and services (Note 26) 101,378 101,810 94,483 Administrative expenses (Note 26) 7,293 5,689 4,138 (+) Amortization discontinued operations 3,401 — — 112,072 107,499 98,621 |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Borrowings | 18 BORROWINGS As of December 31, this item includes: 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 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 a) Bank Loans As of December 31, 2019 and 2020, this item comprises bank loans in local and foreign currencies for working capital purposes. These obligations accrue fixed interest rates that fluctuate between 1.0% and 12.0% in 2019 and between 0.5% and 11.0% in 2020. Current Non-current Interest Date of At December, 31 At December, 31 rate maturity 2019 2020 2019 2020 Cumbra Peru S.A. (i) 2.00% / 11.00% 2022 170,798 222,924 26,401 19,977 UNNA ENERGIA S.A. (ii) 3.06% / 6.04% 2027 30,367 24,950 102,895 99,474 AENZA 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 Negocio Inmobiliario S.A. 6.84% / 11.00% 2022 110,343 90,197 — 3,318 445,289 409,272 186,574 162,387 i) Financial Stability Framework Agreement In July 2017, the Company and its subsidiaries (Cumbra Peru S.A., Construyendo Pais S.A., Vial y Vives-DSD S.A. and Concesionaria Via Expresa Sur S.A.) entered into a Financial Stability Framework Agreement with the following financial entities: Scotiabank Peru S.A., Banco Internacional del Peru S.A.A., BBVA Banco Continental, Banco de Credito del Peru, Citibank del Peru SA and Citibank N.A. The Framework Agreement aims to: (i) grant Cumbra Peru S.A. a syndicated revolving line of credit for working capital for up to US$1.6 million and S/143.9 million, which may be increased by an additional US$14 million subject to certain conditions; (ii) grant Cumbra Peru S.A. a line of credit of up to US$51.6 million and S/33.6 million; (iii) grant the Company, Cumbra Peru S.A., Construyendo Pais S.A., Vial y Vives - DSD S.A. and Concesionaria Via Expresa Sur S.A. a non-revolving In accordance with the Financial Stability Framework Agreement, the Company must comply quarterly with two ratios, related to its invoices and sales provisions: (i) the calculated value of 90% of its bills receivable, and (ii) the calculated value of 80% of its income provisions must be greater than 50% of the amount of Tranche A pending payment. As of December 31, 2020 due to the stoppage of activities generated by the COVID-19 As of December 31, 2019, the balance payable under the Financial Stability Framework Agreement amounted to US$44.2 million (equivalent to S/146.6 million). In August 2019, the Corporation paid the entire balance of Tranche B, equivalent to S/9.7 million and US$9.2 million. In September and October 2019, Tranche A was partially paid for S/.0.4 million and US$0.1 million; and S/0.5 million, respectively. As of December 31, 2020, the Company’s balance payable under the Financial Stability Framework Agreement amounts to US$30.7 million (equivalent to S/111 million). ii) Terminales del Peru Loan Terminales del Peru (hereinafter “TP”), a joint operation of the subsidiary UNNA ENERGIA S.A., has a medium-term loan agreement with Banco de Credito del Peru S.A.(hereinafter BCP) up to US$30 million to finance the investments committed and up to US$70 million to finance the additional investments from the operation contract of the North and Center terminals for the period 2015 to 2019 with a maximum exposure limit of US$80 million. These facilities are repaid within 8 years. As of December 31, 2020, these loans amount to US$23.2 million (equivalent to S/84.1 million), and due in 2027, this amount corresponds to the 50% interest held by the subsidiary UNNA ENERGIA. In addition, in November 2019, TP signed a loan agreement to finance the additional investments from 2019 to 2023, for a credit line amount to US$46 million with BCP. The contract confirmed the participation of an assignee, so BD Capital (BDC) acquired 50% of the BCP contractual position through the subscription of the accession contract and in November 2019 disbursed to TP US$23 million. As of December 31, 2020, the loan amounts to US$11 million (equivalent to S/40 million), this amount corresponds to the 50% interest held by the subsidiary UNNA ENERGIA and is due in 2026. As of December 31, 2020 and the date of this report, TP is in compliance with the ratios established in the contract loan. iii) CS Peru Infrastructure Holdings LLC Loan In July 2019, the Company entered into a medium term loan credit agreement for up to US$35 million with CS Peru Infrastructure Holdings LLC. The term of the loan is three years, with quarterly installments of principal starting on the 18th month. The loan accrued interest at the following rates per annum: (i) for the period from and including the July 31, 2019 (“Closing Date”) to but excluding the date that is 6 months after the Closing Date, 9.10%; (ii) for the period from and including the date that is 6 months after the Closing Date to but excluding the date that is 1 year after the Closing Date, 9.35%; (iii) for the period between the first annual anniversary of the Closing Date and the day before the thirtieth month of the Closing Date, 9.60%, and (iv) for the period from the thirtieth month of the Closing Date to the third annual anniversary of the Closing Date, 10.10%. The loan was used for working capital in the Company, Cumbra Peru S.A. and Adexus S.A. On November 21, 2019, as a result of the initiation of a preventive insolvency process by the Chilean subsidiary, Adexus SA, the Company received a communication from CS Peru Infrastructure Holdings LLC reporting the occurrence of a default event under the loan contract, in accordance with the provisions of Section 7.02 (e) and 9.09 of the same contract. As a consequence, as of December 31, 2019, the loan was classified as current liabilities. In February 2020, US$10 million was partially paid. On February 28, 2020, the waiver was obtained by the Company, so it was reclassified to non-current On November 13, 2020, as a consequence of the health crisis caused by COVID-19, non-applicability As of December 31, 2020, the principal amount of the loan is US$25.7 million, equivalent to S/93.2 million (US$35 million, equivalent to S/112.9 million, as of December 31, 2019). iv) Banco Santander Loan On December 30, 2020, Técnicas Reunidas enforced two letters of credit in the aggregate amount of US$23.7 million, which letters of credit had been issued by Santander on behalf of our subsidiary Cumbra as security pursuant to a construction contract. As a result, Cumbra subscribed to a short term loan with Banco Santander in the aggregate principal amount of US$23.7 million. The loan accrues interest at an annual rate of Libor + 8.0%. The term of the loan was 30 days, which maturity was extended until March 30, 2021. We subsequently negotiated payment in installments starting on May 2021 ending on September 2021. As of December 31, 2020 and to the date of this annual report, the principal amount outstanding is US$23.7 million (equivalent to S/85.9 million). b) Financial Leases 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 Negocio Inmobiliario S.A. 7.79% / 9.04% 2023 4,297 4,617 7,399 4,357 Cumbra Peru S.A. 4.80% / 7.67% 2023 3,395 2,021 5,678 2,823 UNNA ENERGIA 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 The minimum payments to be made according to their maturity and the present value of the leasing obligations are as follows: At December 31, 2019 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 The present value of the finance lease agreements obligations are as follows: At December 31, 2019 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 c) Lease liability for right-of-use Current Non-current Interest Date of At December, 31 At December, 31 rate maturity 2019 2020 2019 2020 UNNA ENERGIA S.A. 6.59% / 7.80% 2023 10,584 6,765 10,261 2,926 AENZA 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 Cumbra Peru S.A. 7.65% 2022 1,592 852 541 426 Concar S.A.C. 5.55% 2024 1,171 2,047 806 1,925 Cumbra Ingenieria S.A. 7.40% 2023 — 302 — 381 Tren Urbano de Lima S.A. 10.00% 2023 — 42 — 59 Other minors 6.31% / 10.00% 2020 11 — — — 23,980 19,950 68,890 52,776 The minimum payments to be made according to their maturity and the present value of the lease liability for right-of-use At December 31, 2019 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 92,870 72,726 The present value of the lease liability for right-of-use At December 31, 2019 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 d) Other financial entities The balance is mainly composed of the monetization of Norvial dividends, as described below. At May 29, 2018 the Company subscribes an agreement between the Company and Inversiones Concesiones Vial S.A.C. (“BCI Peru”) -whith the intervention of Fondo de Inversiones BCI NV (“Fondo BCI”) and BCI Management Administradora General de Fondos S.A. (“BCI” Asset Management”) - to monetize future dividends from Norvial S.A. to the Company. With the signing of this agreement, the Company obligated itself to indirectly transfer its economic rights over 48.8% of the share capital of Norvial S.A. by transferring its class B shares (equivalent to 48.8% of the capital of Norvial S.A.) to a vehicle specially constituted for such purposes named Inversiones en Autopistas S.A. The amount of the transaction was US$42.3 million (equivalent to S/138 million) and was completed on June 11, 2018. Likewise, it has been agreed that the Company will have purchase options on 48.8% of Norvial’s economic rights that BCI Peru will maintain through its participation in Inversiones en Autopistas S.A. These options will be subject to certain conditions such as the expiration of different terms, recovery of the investment made with the funds of the BCI Fund (according to different economic calculations) and/or that a change of control occurs. During the 2020 period, the Company reviewed the projected cash flows and effective interest rate of the financial liability with BCI Peru based on new information available on Norvial’s projected traffic and determined that there was a material quantitative change that exceeds the +/-10% As of December 31, 2020, the loan balance payable amounted to US$42.1 million (equivalent to S/152.5 million), and corresponds entirely to the loan principal (as of December 31, 2019, the balance was US$42.9 million, equivalent to S/142.2 million). e) Fair value of debt The book value and fair value of financial liabilities are as follows: 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 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 In 2020, fair values are based on discounted cash flows using debt rates between 0.7% and 11% (between 2.9% and 11% in 2019) and are within level 2 of the fair value hierarchy. |
Bonds
Bonds | 12 Months Ended |
Dec. 31, 2020 | |
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Bonds | 19 BONDS As of December 31, this item includes: Total Current Non-current 2019 2020 2019 2020 2019 2020 Tren Urbano de Lima 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 Cumbra Peru S.A. (c) — 27,457 — 4,546 — 22,911 924,042 932,759 44,737 58,446 879,305 874,313 a) Tren Urbano de Lima In February 2015, the subsidiary Tren Urbano de Lima S.A. issue corporate bonds under Regulation S of the United States of America. The issuance was made in VAC soles (adjusted for the Constant Update Value) for an amount of S/629 million. The bonds expire in November 2039 and accrue interest at a rate of 4.75% (plus the VAC adjustment), present a risk rating of AA + (local scale) granted by Support & International Associates Risk Classifier. As of December 31, 2020, an accumulated amortization amounting to S/90.6 million (S/79 million as of December 31, 2019) has been made. As of December 31, 2020, the balance includes accrued interest payable and VAC adjustments for S/103.4 million (S/86.8 million as of December 31, 2019). As of December 31, 2018, 2019 and 2020, the movement of this account is as follows: 2018 2019 2020 Balance at January, 1 603,657 611,660 618,497 Amortization (10,178 ) (11,330 ) (11,582 ) Accrued interest 48,130 48,253 47,615 Interest paid (29,949 ) (30,086 ) (30,076 ) Balance at December, 31 611,660 618,497 624,454 As part of the bond structuring process, Tren Urbano de Lima S.A. pledged to report and verify compliance with the following, measured according to their individual financial statements (covenants): • 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. As of December 31, 2019, and 2020, Tren Urbano de Lima S.A. has complied with the corresponding covenants. As of December 31, 2020, the fair value amounts to S/710 million (S/686.8 million, as of December 31, 2019), this is based on discounted cash flows using the rate of 3.6% (4.32% as of December 31, 2019) and corresponds to level 2 of the fair value hierarchy. b) Norvial S.A. Between 2015 and 2016, the subsidiary, Norvial S.A., issued the First Corporate Bond Program on the Lima Stock Exchange for S/365 million. The rating companies Equilibrium Risk and Apoyo & Asociados Internacionales gave the rating of AA to this debt instrument. The purpose of the awarded funds was to finance the construction works of the Second Stage of the Road Network No. 5 and the financing of the VAT linked to the execution of the expenses of the Project. As of December 31, 2018, 2019, and 2020, the movement in this account is as follows: 2018 2019 2020 Balance at January, 1 343,910 325,382 305,545 Amortization (18,736 ) (20,005 ) (24,820 ) Accrued interest 24,170 23,482 24,619 Capitalized interest 3,361 2,725 — Interest paid (27,323 ) (26,039 ) (24,496 ) Balance at December, 31 325,382 305,545 280,848 As part of the bond structuring process, Norvial S.A. undertook to periodically report and verify compliance with the following covenants: • Debt service coverage ratio not less than 1.3 times; • Proforma leverage ratio less than 4 times. As of December 31, 2019, and 2020, Norvial S.A. has complied with the corresponding covenants. As of December 31, 2020, the fair value amounts to S/304.7 million (as of December 31, 2019, amounts to S/327.2 million,), this is based on discounted cash flows using rates between 6.73% and 8.07% (between 6.20% and 7.59% as of December 31, 2019) corresponds to level 2 of the fair value hierarchy. c) Cumbra Peru S.A. At the beginning of 2020, the subsidiary Cumbra Peru S.A. prepared the First Private Bond Program, up to a maximum amount of US$8 million. In the first quarter of the year, bonds issued amounts to US$7.8 million (equivalent to S/25.9 million) under the debt swap modality, related to its outstanding trade accounts. The bonds mature in December 2027 and bear interest at a rate of 8.5%, payment is semi-annual and have a risk rating of B-, As of December 31, 2020, the fair value amounts to S/28.6 million, is based on discounted cash flows using rate 7.14% and is within level 3 of the fair value hierarchy. |
Trade Accounts Payable
Trade Accounts Payable | 12 Months Ended |
Dec. 31, 2020 | |
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Trade Accounts Payable | 20 TRADE ACCOUNTS PAYABLE As of December 31, this item includes: 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 (a) Invoices payable are obligations accredited with formal documents. The following are the invoices payable according to main projects: 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 S.A. 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 b) Provision of contract costs are obligations not accredited with formal documents. Below are the services received not billed according to main projects: 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 S.A. 68,140 106,186 Engineering and Construction Works - Morelco S.A.S. 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 |
Other Accounts Payable
Other Accounts Payable | 12 Months Ended |
Dec. 31, 2020 | |
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Other Accounts Payable | 21 OTHER ACCOUNTS PAYABLE As of December 31, this item includes: 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 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 54,470 58,420 33,356 41,974 21,114 965,964 901,638 669,674 718,406 296,290 183,232 (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 Cumbra Peru S.A.; as a result of the termination of GSP operations. The fair value of short-term accounts approximates their book value due to their short-term maturities. The non-current non-financial |
Other Provisions
Other Provisions | 12 Months Ended |
Dec. 31, 2020 | |
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Provisions | 22 OTHER PROVISIONS As of December 31, this item includes: Total Current Non-current 2019 2020 2019 2020 2019 2020 Legal claims 272,274 375,596 101,266 80,456 171,008 295,140 Tax claims 6,045 5,630 2,369 1,954 3,676 3,676 Provision for well closure 50,116 52,949 9,848 10,837 40,268 42,112 328,435 429,366 113,483 92,757 214,952 336,609 Additions for legal claims correspond to: i) Civil compensation As of December 31, 2020, corresponds to the legal contingency estimated by management for exposure of the Company and its subsidiaries to a probable compensation in relation to their participation as minority partners in certain entities that developed infrastructure projects in Peru with companies belonging to the Odebrecht group and projects related to “Club de la Construccion”. As of December 31, 2020, the present value of the estimated provision totals S/216.3 million (S/154 million as of December 31, 2019). ii) Administrative process Indecopi On March 9, 2021, Cumbra Peru S.A. was notified with the Final Instruction Report prepared by the Technical Secretariat, which is subject to review by the Commission for the Defense of Free Competition of INDECOPI, related to the sanctioning administrative procedure mentioned in Note 1.c). In this regard, Company and its legal advisors estimate that, based on the findings of the Final Investigation Report, the fine to be imposed on Cumbra Peru S.A. in this case should not exceed S/39 million and was recorded on December 31, 2020 the equivalent to the corresponding present value that results in S/24 million. iii) Class Action During the first quarter of 2017 two securities class actions have been filed against the Company, and certain former employees in the Eastern District of New York. Both complaints allege false and misleading statements during the class period. In particular, they allege that the Company failed to disclose, among other things, that a) the Company knew that its partner Odebrecht was engaged in illegal activities, and b) the Company profited from such activities in violation of its own corporate governance standards. As of the date of this report, the Company has signed the definitive settlement agreement with plaintiffs’ counsel, whereby the parties agree to terminate the class action subject to Court approval and payment of the settlement amount by the Company. The amount stipulated for the termination of the class action is equivalent to US$20 million. As of December 31, 2019, the Company registered a provision of US$15 million (equivalent of S/49.8 million). As of December 31, 2020, the Company maintains a provision of US$14.7 million plus interest of US$0.2 million (equivalent to S/53.1 million and S/0.9 million, respectively). In 2020, a payment of US$0.3 million (equivalent to S/1.1 million) and US$5 million was made and covered by the Company and by the professional liability policy in accordance with the agreement signed with the insurer, respectively. The settlement terms stipulate that the remaining $14,650,000, plus interest of 5% per annum running from September 17, 2020, must be paid by the company by June 30, 2021. We have initiated discussions with the plaintiffs regarding a deferral of this payment, iii) Other provisions As of December 31, 2020 corresponds to legal claims of civil, labor, administrative processes and administrative litigation nature, for an estimated provision of S/76 million (S/68.5 million as of December 31, 2019). Legal claims of a civil nature, mainly includes claims received from clients for S/41.4 million, corresponding to the subsidiary Cumbra Peru S.A. (S/46 million as of December 31, 2019). The gross movement of other provisions is as follows: Legal Contingent Provision Total At January 1, 2018 23,364 6,156 16,804 46,324 Additions 75,369 — 3,578 78,947 Reversals of provisions (4,875 ) (1,343 ) — (6,218 ) Desconsolidation of subsidiaries (2,340 ) — — (2,340 ) Payments (6,615 ) — — (6,615 ) Translation adjustments (175 ) (315 ) — (490 ) At December 31, 2018 84,728 4,498 20,382 109,608 At January 1, 2019 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 ) At December 31, 2019 278,319 — 50,116 328,435 At January 1, 2020 278,319 — 50,116 328,435 Additions 128,169 — 4,632 132,801 Reversals of provisions (33,264 ) — — (33,264 ) Reclasification 1,079 — — 1,079 Payments (7,252 ) — (1,799 ) (9,051 ) Translation adjustments 9,366 — — 9,366 At December 31, 2020 376,417 — 52,949 429,366 |
Equity
Equity | 12 Months Ended |
Dec. 31, 2020 | |
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Equity | 23 EQUITY a) Capital On April 2, 2019, the Company concluded the capital increase process by completing the subscription of 142,483,663 new common shares, therefore the capital of the Company is represented by S/871,917,855, after the end of the private offer and considering the contributions made during the 2 preferential subscription wheels. As of December 31, 2020, a total of 190,863,050 shares were represented in ADS, equivalent to 38,172,610 ADSs at a rate of 5 shares per ADS; and as of December 31, 2019, 218,043,480 shares were represented by ADS, equivalent to 43,608,696 ADSs As of December 31, 2020, the Company’s shareholding structure is as follows: Percentage of individual interest in outstanding capital Number of Total 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 % As of December 31, 2020, the Company’s shares registered a stock price at the end of the year of S/1.72 per share and a trading frequency of 95.65% (S/1.70 per share and a trading frequency of 95.24% at 31 December 2019). b) Legal reserve In accordance with the Peruvian General Law of Corporations, the legal reserve of the Company is constituted with the transfer of 10% of the annual profit until reaching an amount equivalent to 20% of the paid-in c) Voluntary reserve As of December 31, 2019, and 2020, this S/29.97 million reserve is related to the excess of the legal reserve; this reserve is above the requirement to constitute a reserve until it reaches the equivalent of 20% of the paid-in d) Share premium This item includes the excess of total income obtained by shares issued in 2013 compared to their nominal value of S/1,055.5 million; and by shares issued in 2019 an amount of S/138.1 million and 2020 for the acquisition of a non-controlling In addition, this account recognizes the difference between the nominal value and the transaction value for acquisitions of shares in non-controlling e) Retained earnings Dividends distributed to shareholders other than domiciled legal entities are subject to the rates of 4.1% (earnings until 2014), 6.8% (2015 and 2016 earnings) and 5.00% (2017 and thereafter) for income tax charged to these shareholders; such tax is withheld and settled by the Company. Dividends for fiscal years 2019 and 2020 were not distributed (Note 33). |
Deferred Income Tax
Deferred Income Tax | 12 Months Ended |
Dec. 31, 2020 | |
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Deferred Income Tax | 24 DEFERRED INCOME TAX Deferred income tax is classified by its estimated reversal term as follows: At December 31, 2019 2020 Deferred income tax asset: Reversal expected in the following twelve months 37,927 44,780 Reversal expected after twelve months 233,792 217,385 Total deferred tax asset 271,719 262,165 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 158,985 159,258 The gross movement of the deferred income tax item is as follows: At December 31, 2018 2019 2020 Opening balance 364,225 365,263 158,985 Debit (credit) to income statement (Note 29) 28,462 (188,509 ) (5,310 ) Adjustment for changes in rates of income tax (1,524 ) (622 ) — Sales of a Subsidiary (24,135 ) — — IFRIC 23 adoption — (986 ) — Debit (credit) to equity (95 ) (3 ) — Other movements (1,670 ) (16,158 ) 5,583 Final balance 365,263 158,985 159,258 The movement in deferred tax assets and liabilities in the year, without considering the offsetting of balances, is as follows: Deferred income tax liabilities Difference in Deferred Work in Tax Borrowing PPA Others Total At January 1, 2018 165,851 — 2,530 32,189 19,945 15,338 9,357 245,210 (Debit) credit to P&L (76,246 ) 13,574 2,926 689 (4,229 ) (12,479 ) 9,263 (66,502 ) Sale of subsidiary (8,052 ) — — — — (4,421 ) 2,125 (10,348 ) At December 31, 2018 81,553 13,574 5,456 32,878 15,716 (1,562 ) 20,745 168,360 (Debit) credit to P&L 9,937 10,571 33,403 3,312 (780 ) 11,385 18,821 86,649 At December 31, 2019 91,490 24,145 38,859 36,190 14,936 9,823 39,566 255,009 (Debit) 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 ) At December 31, 2020 87,988 15,906 17,203 39,026 15,108 8,917 23,396 207,544 Deferred income tax assets Provisions Accelerated Tax Work in Accrual Impairment NIIF 9 Tax Others Total At January 1, 2018 52,439 86,651 144,089 39,487 13,440 224,780 — 20,413 28,136 609,435 Debit (credit) to P&L (1,336 ) (82,065 ) 32,952 (5,482 ) 2,529 35,289 — (2,365 ) (19,086 ) (39,564 ) Debit (credit) to — — — — — — — — (95 ) (95 ) Sale of subsidiary (8,531 ) (3,665 ) 1,248 — (6,187 ) (6,302 ) — — (11,046 ) (34,483 ) Others — — — — — — — — (1,670 ) (1,670 ) At December 31, 2018 42,572 921 178,289 34,005 9,782 253,767 — 18,048 (3,761 ) 533,623 Debit (credit) to 804 7,512 14,343 11,715 1,842 (205,265 ) 46,804 (4,526 ) 24,289 (102,482 ) Debit (credit) to — — — — — — — — (3 ) (3 ) IFRIC 23 adoption — — (986 ) — — — — — — (986 ) Others — — — — — — — — (16,158 ) (16,158 ) At December 31, 2019 43,376 8,433 191,646 45,720 11,624 48,502 46,804 13,522 4,367 413,994 Debit (credit) to (38,130 ) 374 (8,767 ) (12,298 ) 1,416 3,257 (10,874 ) (4,518 ) 19,160 (50,380 ) Reclassification 24,340 (1,154 ) 3,616 (28,630 ) — (507 ) 10,067 4,989 (15,116 ) (2,395 ) Others — — — — — — — — 5,583 5,583 At December 31, 2020 29,586 7,653 186,495 4,792 13,040 51,252 45,997 13,993 13,994 366,802 Tax Tax loss Application Statute of loss method 2020 2021 Forward limitations Cumbra Peru S.A. 354,381 B 25,722 19,893 308,766 — Adexus 149,303 N/A — — 149,303 — VyV-DSD S.A. 103,886 N/A 18,870 22,395 62,621 — Transportadora de Gas Natural Comprimido Andino S.A.C. 15,989 B — — 15,989 — Viva Negocio Inmobiliario S.A. 9,454 A — 9,454 — 2022 GyM Chile SPA 4,236 N/A — — 4,236 — Cumbra Ingenieria S.A. 3,052 A 3,052 — — 2025 UNNA ENERGIA 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. 1,014 A 1,014 — — 2022 Qualys S.A. 162 A 162 — — 2025 646,602 50,346 51,742 544,514 A 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. The taxable goodwill relates to the tax credit generated in the reorganization of the Chilean subsidiaries in 2014, in accordance with such legislation. Deferred income corresponds to income that, according to Colombian tax regulations, is not recognized as such for tax purposes until certain requirements are met. |
Workers' Profit Sharing
Workers' Profit Sharing | 12 Months Ended |
Dec. 31, 2020 | |
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Workers' Profit Sharing | 25 WORKERS’ PROFIT SHARING The distribution of the workers’ profit sharing in the income statement for the years ended December 31 is shown below: 2018 2019 2020 Cost of sales of goods and services 5,274 4,661 2,147 Administrative expenses 2,588 1,679 23 7,862 6,340 2,170 |
Costs And Expenses by Nature
Costs And Expenses by Nature | 12 Months Ended |
Dec. 31, 2020 | |
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Expenses by Nature | 26 COSTS AND EXPENSES BY NATURE For the years ended December 31, the detail of this item is as follows: Cost of goods Administrative Total 2018 Services provided by third-parties 1,123,461 105,217 1,228,678 Salaries, wages and fringe benefits (i) 901,029 127,001 1,028,030 Purchase of goods 862,940 — 862,940 Other management charges 375,308 43,533 418,841 Depreciation (Note 16.1) 91,249 6,600 97,849 Amortization (Note 17.e) 101,378 7,293 108,671 Impairment of accounts receivable (ii) 45,658 19,418 65,076 Taxes 8,930 2,101 11,031 Impairment of property, plant and equipment 5,468 — 5,468 Inventory recovery (26,993 ) — (26,993 ) 3,488,428 311,163 3,799,591 Cost of goods Administrative Total 2019 Services provided by third-parties 1,500,897 65,154 1,566,051 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) 101,810 5,689 107,499 Impairment of accounts receivable (ii) 8,183 — 8,183 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 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 (i) For the years ended on December 31, salaries, wages and fringe benefits comprise the following: 2018 2019 2020 Salaries 718,453 853,579 814,874 Statutory gratification 87,984 93,262 91,189 Social contributions 74,184 61,533 57,763 Employee’s severance indemnities 50,852 49,944 60,090 Vacations 44,482 42,025 42,135 Workers’ profit sharing (Note 25) 7,862 6,340 2,170 Others 44,213 76,927 29,037 1,028,030 1,183,610 1,097,258 (ii) For the years ended December 31, the impairment of accounts receivable includes the following: 2018 2019 2020 Trade accounts receivables (Note 10) 3,065 955 19,772 Other accounts receivable (Note 13.i) 44,252 5,704 12,318 Accounts receivable from related parties 17,759 1,524 129 65,076 8,183 32,219 |
Financial Income and Expenses
Financial Income and Expenses | 12 Months Ended |
Dec. 31, 2020 | |
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Financial Income and Expenses | 27 FINANCIAL INCOME AND EXPENSES For the years ended on December 31, these items include the following: 2018 2019 2020 Financial income: Interest on loans to third parties 27,060 36,876 863 Profit for present value of financial asset or financial liability 9,786 30,408 32,734 Interest on short-term bank deposits 3,811 4,770 2,457 Commissions and collaterals 1,448 535 601 Others 9,431 1,757 2,765 51,536 74,346 39,420 Financial expenses: Interest expense: - Bank loans 100,256 93,019 69,420 - Bonds 27,388 26,113 26,771 - Loans from third parties 32,431 16,275 12,612 - Right-of-use — 5,978 4,600 - Financial lease 3,768 2,218 3,139 Commissions and collaterals 31,668 24,521 14,077 Loss for present value of financial asset or financial liability 25,796 41,131 4,552 Exchange difference loss, net 23,704 32,840 5,802 Derivative financial instruments 268 92 64 Other financial expenses 23,656 18,176 20,793 Less capitalized interest (8,167 ) (7,229 ) (4,887 ) 260,768 253,134 156,943 |
Other Income and Expenses, Net
Other Income and Expenses, Net | 12 Months Ended |
Dec. 31, 2020 | |
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Other Income and Expenses, Net | 28 OTHER INCOME AND EXPENSES, NET For the years ended December 31, these items include the following: 2018 2019 2020 Other income: Sale of assets 26,007 12,748 9,118 Sale of investments 13,475 — — 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 — Present value of the liability from put option 6,122 — — Others 12,815 13,384 4,267 58,419 179,785 35,599 Other expenditures: Asset impairment (b) — 339,774 103,074 Civil repair to the Peruvian Government 73,500 69,150 64,571 Net cost of fixed assets disposal 36,931 23,697 8,682 Legal and tax litigation — 49,754 32,186 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 13,842 26,729 708 124,273 519,279 218,445 (65,854 ) (339,494 ) (182,846 ) (a) Corresponds to the refinancing agreement linked to the contract signed between Tren Urbano de Lima S.A. and Mitzuho Bank Ltd. where the Company acted as an endorsement of the transaction. Under the contract, a bond letter was issued with Mitzuho Bank Ltd. for it to be covered with a financial derivative required for the closing of the CPAOs purchase operation of the Expansion Project. The contract further indicated that in the event that the bank refinanced the debt obtained for the purchase of the CPAOS, the Company received 70% of the gains obtained. (b) As of December 31, 2020, corresponds a impairment of accounts receivable generated by the subsidiary Concessionaire Via Expresa Sur S.A. for S/55.8 million (Note 13(i)), as a consequence of the new estimates of the Company regarding the recovery of the investment it maintains in the project, this project concession contract has been suspended by mutual agreement with the Municipality of Lima since June; impairment accounted in CAM Holding S.P.A. for S/12.5 million for claims accepted against the guarantee account (Note 13), and impairment of accounts receivable generated by the subsidiary Concar S.A.C. for S/33.8 million to the Regional Government of Cusco (Note 10); other minor for S/0.5 million from other accounts receivable (Note 13) and S/0.1 million from trade accounts receivable (Note 10) (as of December 31, 2019 corresponds to a provision for impairment of accounts receivable from GSP for S/276 million; the subsidiary Promotora Larco Mar SA recognized an impairment in its assets in progress for S/18.2 million; the subsidiary Cumbra Peru S.A. recognized an impairment of intangibles for S/35.4 million; the subsidiary Adexus recognized an impairment of Intangibles for S/10.1 million). |
Tax Situation
Tax Situation | 12 Months Ended |
Dec. 31, 2020 | |
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Tax Situation | 29 TAX SITUATION a) Each company of the Corporation is individually subject to the applicable taxes in Peru, Chile and Colombia. Management considers that it has determined the taxable income under general income tax laws in accordance with the tax legislation current effective of each country. b) Changes in the Income Tax Law in Colombia - With the entry into force of the law 2010 of December 2019 law of economic growth, employment, investment, strengthening of public finances and the progressivity, equity and efficiency of the tax system, the following was stipulated as of January 1, 2020. The income tax rate applicable to national societies, permanent establishments and foreign legal entities will be 32%, 31% and 30% for the periods 2020,2021 and 2022, respectively. Payments abroad for interest, commissions, fees, royalties, leases, personal services are subject to withholding tax at the rate of 20%. Payments for consulting, technical services and technical assistance provided by non-residents non-residents In case of an increase in taxable income of 30% with respect to the previous year, for fiscal years 2020 and 2021, the statute of limitation of the returns would be six (6) months and in the case of a 20% increase year will be close at month twelve (12). c) The income tax expense shown in the consolidated statement of income comprises: 2018 2019 2020 Current income tax 151,039 114,240 53,134 Deferred income tax (Note 24) (26,938 ) 189,131 5,310 124,101 303,371 58,444 (-) Discontinued Operations (13,108 ) — — Income tax expense 110,993 303,371 58,444 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: 2018 2019 2020 Profit (loss) before income tax 124,005 (535,271 ) (131,900 ) Income tax by applying local applicable tax rates on profit generated in the respective countries 37,823 (157,744 ) (39,719 ) Tax effect on: - Reversal of deferred income tax asset — 174,716 7,950 - Non-recoverable — 85,301 19,794 - Non-deductible 70,411 84,620 49,580 - Unrecognized deferred income tax asset 8,592 82,424 24,930 - Change in prior years estimations 3,235 36,529 2,213 - Provision of tax contingencies — 7,079 (3,421 ) - Adjustment for changes in rates of income tax 1,524 622 (240 ) - Non-taxable (1,691 ) (1,195 ) (22 ) - Equity method (profit) loss (1,094 ) (64 ) (227 ) - Others (7,807 ) (8,917 ) (2,394 ) Income tax 110,993 303,371 58,444 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., Tren Urbano de Lima S.A., Concesionaria Via Expresa Sur S.A. and UNNA ENERGIA 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. Country Local Tax Rates Profit before Income Tax Income Tax (A) (B) (A)*(B) 2018 Peru 29.50 % 151,627 44,730 Peru - Norvial S.A. 27.00 % 21,104 5,698 Peru - Tren Urbano de Lima S.A. 30.00 % 125,136 37,541 Peru -Via Expresa Sur S.A. 30.00 % 2,951 885 Peru - UNNA ENERGIA S.A. 29.00 % 35,421 10,272 Chile 27.00 % (30,710 ) (8,292 ) Colombia 37.00 % 11,851 4,385 Colombia 33.00 % 1,984 655 Bolivia 25.00 % (137 ) (34 ) Unrealized gains (195,222 ) (58,017 ) 124,005 37,823 2019 Peru 29.50 % (1,612,192 ) (475,597 ) Peru - Norvial S.A. 27.00 % 24,066 6,498 Peru - Tren Urbano de Lima S.A. 30.00 % 121,080 36,324 Peru - Via Expresa Sur S.A. 30.00 % (17,752 ) (5,326 ) Peru - UNNA ENERGIA 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 0.00 % 1,021,609 299,834 (535,271 ) (157,744 ) 2020 Peru 29.50 % (132,192 ) (38,997 ) Peru - Norvial S.A. 27.00 % (2,029 ) (548 ) Peru - Tren Urbano de Lima S.A. 30.00 % 87,521 26,256 Peru - Via Expresa Sur S.A. 30.00 % (53,697 ) (16,109 ) Peru - UNNA ENERGIA S.A. 29.00 % (1,930 ) (540 ) Chile 27.00 % (15,282 ) (4,126 ) Colombia 32.00 % (11,178 ) (3,577 ) Bolivia 25.00 % (13 ) (3 ) Unrealized gains (3,100 ) (2,075 ) (131,900 ) (38,379 ) 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 December 31, 2020. h) Temporary tax on net assets (ITAN) Is applied by the companies which operate in Peru, to third category income generators subject to the Peruvian Income Tax General Regime. Effective the year 2012, the tax rate is 0.4%, applicable to the amount of the net assets exceeding S/1 million. The amount effectively paid may be used as a credit against payments on account of income tax or against the provisional tax payment of the income tax of the related period. i) In 2019, certain operations have not been recognized to have impact on income tax such as: additional impairment of investments in GSP (Negocios del Gas S.A.) S/67 million, account receivable from the tax authorities converted to a contingent asset (Cumbra Peru S.A.) amount to S/7.7 million and write-offs of non-recoverable 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: • Tren Urbano de Lima S.A. S/22 million in 2020 (S/7 million in 2019) • Inmobiliaria Almonte S/4.1 million en 2020 • Consorcio Vial Sierra S/3.4 million in 2020 |
Other Comprehensive Income
Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2020 | |
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Other Comprehensive Income | 30 OTHER COMPREHENSIVE INCOME The analysis of this account is reflected below: Cash flow Foreign Increase in assets as held for sale Exchange in foreign Total As of January 1, 2018 475 (69,320 ) 7,461 (1,962 ) (63,346 ) (Debit) credit for the year 160 (7,875 ) — (10,800 ) (18,515 ) Tax effects (47 ) — — 2,808 2,761 Transfer to profit or loss — 14,805 — — 14,805 Other comprehensive income of the year 113 6,930 — (7,992 ) (949 ) As of December 31, 2018 588 (62,390 ) 7,461 (9,954 ) (64,295 ) (Debit) credit for the year 8 (6,892 ) — — (6,884 ) Tax effects (2 ) — — — (2 ) Other comprehensive loss of the year 6 (6,892 ) — — (6,886 ) As of December 31, 2019 594 (69,282 ) 7,461 (9,954 ) (71,181 ) (Debit) credit for the year (594 ) 8,158 — 708 8,272 Other comprehensive income of the year (594 ) 8,158 — 708 8,272 As of December 31, 2020 — (61,124 ) 7,461 (9,246 ) (62,909 ) The amount of S/14.8 million corresponds to the recognition of the translation adjustment from CAM Chile S.A., an indirect subsidiary sold in December 2018. The amounts in the above table only represent amounts attributable to the Company’s controlling interest, net of tax. The table below shows the movement in other comprehensive income per year: 2018 2019 2020 Controlling interest (949 ) (6,886 ) 8,272 Non-controlling (1,346 ) (1,734 ) 114 Adjustment for actuarial gains and losses, net of tax 16,589 — — Total value in OCI 14,294 (8,620 ) 8,386 |
Contingencies, Committments and
Contingencies, Committments and Warranties | 12 Months Ended |
Dec. 31, 2020 | |
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Contingencies, Committments and Warranties | 31 CONTINGENCIES, COMMITMENTS, AND WARRANTIES In the opinion of Management and its legal advisors, the provisions registered mainly for labor and tax claims are sufficient to cover the results of these probable contingencies. (Note 22). a) Tax contingencies The Company considers that the maximum exposure for tax contingencies of the Corporate amounts to S/147.7 million according to the following detail: Contentious Administrative Process before the Judiciary regarding the assessment of IGV or VAT tax from 1998 to 2002 for S/0.7 million and for Income Tax and IGV or VAT tax from 2001 for S/3.9 million. For fiscal year 2020, the dispute or claim for these processes has been summarized to the excessive collection of interest due to the time that has elapsed since the beginning of the process to date. In February 2020, a Contentious Administrative Process was started for the results of the audit by VAT tax 2011 amounting to S/0.7 million. The appeal before SUNAT of income tax assessments from 2013 amounting to S/14 million (S/12.1 million correspond to Cumbra Peru S.A. and S/1.9 million to Viva Negocio Inmobiliario SA), and of income tax assessments from 2014 amounting to S/65.5 million correspond to AENZA S.A.A. The appeal before the Tax Court regarding VAT tax assessments for: a) Income tax from 2012, S/40 million to Cumbra Peru S.A. b) Income Tax 2009, 2010 and 2013, S/12 million to AENZA S.A.A. c) Income Tax 2013 and 2016, S/6.4 million to Cumbra Ingenieria S.A. d) Income Tax 2009 and 2016, S/4.5 million from Viva Negocio Inmobiliario S.A. Management estimates that all the afore mentioned processes will be favorable considering their characteristics and the evaluation of their legal advisors. b) Other contingencies Civil lawsuits, demanding compensation of damages, contract terminations and the enforcement of payment obligations S/99 million (S/2.9 million correspond to Cumbra Peru S.A., S/1 million to Morelco S.A.S., S/89.7 million to Viva Negocio Inmobiliario S.A. and S/5.4 million to Norvial S.A.). Administrative contentious proceedings amounting to S/8.1 million (S/1.7 million correspond to Consorcio Terminales, S/0.6 million to UNNA ENERGIA S.A., S/3.5 million to Tren Urbano de Lima S.A. and S/2.3 million to Cumbra Peru S.A.) Administrative processes amounting to S/7.8 million (S/5.5 million correspond to Cumbra Peru S.A., S/0.6 million to Viva Negocio Inmobiliario S.A., S/0.5 million to UNNA ENERGIA S.A. and its subsidiary and S/1.2 million to AENZA S.A.A.) Labor dispute processes amounting to S/3 million (S/1.2 million correspond to Morelco S.A.S., S/1.6 million to UNNA ENERGIA S.A. and its subsidiary and the rest to Concar S.A.C.) c) Letters bonds and guarantees The Corporate maintains letters of guarantee and guarantees in force in various financial institutions guaranteeing operations for US $427.5 million (US $390 million as of December 31, 2019). |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2020 | |
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Business Combinations | 32 BUSINESS COMBINATIONS Morelco S.A.S. acquisition On December 23, 2014, the Company acquired control through its subsidiary Cumbra Peru S.A., with the purchase of 70% of its shares representing the capital stock. Morelco S.A.S. is an entity domiciled in Colombia, whose principal economic activity is the provision of construction and assembly services. This acquisition forms part of the Corporate’s expansion plans in markets with high growth potential such as Colombia and in attractive industries such as mining and energy. As of December 31, 2014, the Company determined goodwill on this acquisition based on an estimated purchase price of US$93.7 million (equivalent to S/277.1 million) which included cash payments made of US$78.5 million and estimated payables of US$15.1 million (equivalent to S/45.7 million), which according to what was agreed between the parties, would be defined after the review of the balance sheet of the acquired entity mainly referring to working capital, cash and financial debt and the determination of the definitive value of the contracted works pending to execute (backlog) of the acquired business. The estimated purchase price was distributed among the provisional fair values of the assets acquired, and liabilities assumed. As a result of this distribution, a goodwill of US$36.1 million (equivalent to S/105.8 million) was determined. Non-controlling In accordance with the shareholders’ agreement entered into for the purchase of Morelco S.A.S., Cumbra Peru S.A. signed put and call option contract on 30% of the shares of Morelco held by the non-controlling non-controlling The Company obtains the right to purchase the same shares for a period of 10 years and at a determined price similar to that of the aforementioned put options, except that the minimum value applies to the entire term of the option (call options). Into IFRS framework, the put option represents an obligation for the Company to purchase shares of the non-controlling On April 30, 2019, an addenda No. 01 was signed to the shareholders Agreement, which modifies: Section 7.3 sale option in favor of the Initial shareholder, for the following: As of December 31, 2020 and for a term of six (6) months, the initial shareholder may exercise a selling option, only once, for a number of shares held by the Initial shareholder equivalent to sixty-six sub-clause the option of sale 1 within the period indicated in paragraph b of this Section 7.3, the term established for the exercise of option 2 is accelerated and may be exercised by the Initial shareholder at any time after the day following expiration of said period by sending a Notification of the option of sale to Cumbra Peru S.A., so that in such event Cumbra Peru S.A. will only fulfill its obligations by purchasing one hundred (100%) of the shares held by the previous shareholder. Section 7.3 (c) is replaced in its entirety by the following: (c) The price per share in each sale option shall be equal to the base price per share plus an interest charge. The base price per share shall be the result of dividing 5,375 times the EBITDA of the twelve (12) months prior to the date of receipt of the Notification of the option of sale by Cumbra Peru S.A. minus DFN, between (and) all of the shares at the date of receipt of the Notice of option of sale by Cumbra Peru S.A.; however, the corresponding base price per share shall not be less than the price per share corresponding to the purchase price [as that term is defined in the share sale Contract). The base price per Minimum action established in this Section 7.3 (c) shall not apply: (a) in a sale option that is triggered by the Cumbra Peru S.A. share provision to a third party, when the Cumbra Peru S.A. Stock provision does not result in a sale of the Company, and (b) in an Opt sales ion activated before an Exempt Operation. On the base price per share, remuneration interest will be caused at an annual interest rate composed of two point seventy percent (2.70%) as of (i) February 14, 2018 for option 1; (ii) December 31, 2019 for sale option 2 and (iii) in both cases, up to the effective payment date of the purchase contract price concluded as a result of the exercise of each sale option. |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Dividends | 33 DIVIDENDS In compliance with certain covenants, the company will not pay dividends for the years 2019 and 2020, except for transactions with non-controlling 35-c). |
Loss Per Share
Loss Per Share | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Loss Per Share | 34 LOSS PER SHARE The basic loss per common share has been calculated by dividing the loss of the year attributable to the Corporate’s common shareholders by the weighted average of the number of common shares outstanding during that year. No diluted loss per common share has been calculated because there is no potential diluent common or investment shares (ie, financial instruments or agreements that entitle to obtain common or investment shares); therefore, it is the same as the loss per basic share. The basic loss per common share is as follows: 2018 2019 2020 Loss attributable to owners of the Company during the year (83,188 ) (884,721 ) (217,871 ) Weighted average number of shares in issue at S/1.00 each, at December 31, 665,835,490 822,213,119 871,917,855 Basic loss per share (in S/) ( *) (0.125 ) (1.076 ) (0.250 ) 2018 2019 2020 Loss from continuing operations attributable to owners of the Company during the year (73,506 ) (884,721 ) (217,871 ) Weighted average number of shares in issue at S/1.00 each, at December 31, 665,835,490 822,213,119 871,917,855 Basic loss per share (in S/) ( *) (0.110 ) (1.076 ) (0.250 ) (*) The Corporation does not have common shares with dilutive effects As of December 31, 2018, 2019 and 2020. |
Transactions with Non-Controlli
Transactions with Non-Controlling Interests | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Transactions with Non-Controlling Interests | 35 TRANSACTIONS WITH NON-CONTROLLING a) Acquisition of additional non-controlling In May, November and December 2016, GyM Chile S.p.A. acquired 5.43%, 6.77%, and 1.49%, respectively of additional shares in Vial y Vives—DSD S.A. at a total purchase price of S/21.6 million, S/25.7 million and S/3.8 million, respectively. The carrying values of the non-controlling interest at the acquisition dates were S/13.9 million, S/17.9 million and S/3.9 million. The Corporation ceased to recognize the corresponding non-controlling interest, recording a decrease in equity attributable to the owners of the Company of S/15.4 million. As of December 31, 2020, the outstanding balance was S/27.6 million (S/22.7 million in 2019) (Note 21). b) Contributions (returns) from non-controlling Corresponds to the contributions and returns made by the partners of the subsidiary Viva Negocio Inmobiliario S.A. for the realization of real estate projects. As of December 31, the balances include: 2018 2019 2020 Contributions received 3,399 152 18 Returns of contributions (87,841 ) (33,148 ) (15,743 ) (84,442 ) (32,996 ) (15,725 ) Plus: Contributions from other subsidiaries 15,120 — — Decrease in equity of non controlling parties (69,322 ) (32,996 ) (15,725 ) c) Dividends As of December 31, 2019 and 2020, dividends were distributed to the non-controlling |
Operations of Subsidiary Adexus
Operations of Subsidiary Adexus S.A. Reclassified As Continuing Operations | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of Operations Of Subsidiary Adexus SA Reclassified As Continuing Operations [Abstract] | |
Operations of Subsidiary Adexus S.A. Reclassified As Continuing Operations | 36 OPERATIONS OF SUBSIDIARY ADEXUS S.A. RECLASSIFIED AS CONTINUING OPERATIONS As of December 31, 2020, the financial information of the subsidiary Adexus S.A. (hereinafter Adexus) was reclassified as continuous operation. The subsidiary that has been reclassified as a non-current On November 19, 2019, Adexus filed an application for reorganization under law 20720 with the Chilean courts of justice. The Company impaired the total investment value as of December 31, 2019. On January 9, 2020, the Company communicated that the creditors committee of Adexus approved with the favorable vote of more than 80% of the pledge creditors and 85% of the unsecured creditors, respectively, the judicial reorganization agreement proposed by Adexus in the framework of the reorganization procedure. According to the terms of the judicial reorganization agreement, Adexus will restructure and pay the total of its reorganized liabilities within a maximum period of six years, according to the new agreed conditions, being authorized to continue with its commercial activities normally. As a result of the financial protection provided by the Chilean law and with the support of its creditors, Adexus has achieved the restructuring of its liabilities while continuing to serve all its customers. In 2020, Adexus S.A. has complied with the payment schedule agreed with the creditors. On December 28, the creditor’s committee signed a debt reorganization agreement whith pledge creditors and unsecured creditors. The Corporation decided that Adexus will be subject to the patrimonial protection law; after achieving this restructuring, the Corporation will focus on honoring it in the terms agreed while finding the right shareholder for the future development of the subsidiary. |
Events After the Date of the St
Events After the Date of the Statement of Financial Position | 12 Months Ended |
Dec. 31, 2020 | |
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Events After the Date of the Statement of Financial Position | 37 EVENTS AFTER THE DATE OF THE STATEMENT OF FINANCIAL POSITION 1. Issuance of Convertible Bonds On January 13, 2021, the Board of Directors approved terms and conditions for the issuance of convertible bonds to be placed by private offering, including the registration and delivery dates, for the exercise of the preemptive subscription right, both in the first and second subscription round. The convertible bonds to be issued have not been and will not be registered under the U.S. Securities Act, or under the securities laws of any state or jurisdiction outside Peru. Additionally, on the same date, a contract was signed with Kallpa Securities Sociedad Agencia de Bolsa S.A., who will act as Representative of the Bondholders for the issuance of the convertible bonds. The second preferential subscription round of the issuance of the Convertible Bonds in Shares of AENZA S.A.A., by the Company, ended on February 26, 2021. Together with the Subscription Agreements that were subscribed in the first preferential subscription round, in both rounds, Subscription Agreements have been subscribed for a total of 32,721 bonds, for a subscription value that amounts to the total amount of US$32.7 million. Bonds that were not subscribed during the preemptive subscription rounds may be placed to institutional investors through a private placement offering. As of the date hereof, none of the convertible bonds have been issued, and we cannot guarantee that they will be issued on a timely basis or at all 2. New State of emergency due to COVID On April 17, 2021, the Peruvian Government extended the State of National Emergency for a period of 30 days as a result of COVID-19. The Company’s Management continues to monitor the evolution of the situation and the guidance of the national and international authorities, since events beyond the control of Management may arise that require modifying the established business plan. A further spread of Covid-19 Citizen immobilization, the restriction of activities of strategic companies as well as the paralysis of public entities have affected the execution of investment projects as well as the performance of exploration activities, and until the date of approval of the financial statements, it is not expected that operations and going concern will be affected. 3. Process of a plea bargain agreement The Company has made significant progress in the negotiation of the plea bargain agreement and expects to be execute the agreement soon. As the negotiation have advanced, it has been able to have more certainty regarding its exposure to the criminal investigations that will be settled by the agreement and, as a result it has been able to adjust its provisions to update its view of the outcome. Notwithstanding, we cannot assure you that an agreement will be reached in a timely manner or at all and in case an agreement is reached, we can not assure you that it will not contain terms and conditions that are substantially more onerous to the Company that we have foreseen. In addition, any agreement would be subject to further approval by the Peruvian court. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
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Basis of preparation | 2.1 Basis of preparation The consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with International Financial Reporting Standards (IFRS) and interpretations issued by the IFRS Interpretations Committee (IFRIC) applicable to companies reporting under IFRS. The financial statements comply with IFRS as issued by the IASB in force as of December 31, 2019, and December 31, 2020, respectively. The consolidated financial statements have been prepared under the historical cost convention, except for derivative financial instruments, financial assets at fair value through profit or loss, and available-for-sale The preparation of the consolidated financial statements in conformity with IFRS requires the use of certain critical accounting estimates. Also requires that the Management exercise its critical judgment in the process of applying the Corporation’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 5. |
Consolidation of financial statements | 2.2 Consolidation of financial statements a) Subsidiaries Subsidiaries are entities over which the Company has control. Subsidiaries are fully consolidated from the date on which control is transferred to the Corporation. They are deconsolidated from the date that control ceases. The Corporation applies the acquisition method to account for business combinations. Identifiable assets acquired, liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The Corporation evaluates the measurement of the non-controlling acquisition-by-acquisition non-controlling non-controlling Business acquisition-related costs are expensed as incurred. Any contingent consideration assumed by the Corporation with the selling party is recognized at fair value at the acquisition date. Subsequent changes to the fair value of the contingent consideration are recognized in accordance with IFRS 9 “Financial Instruments” as profit or loss. Goodwill is initially measured as the excess of the acquisition cost, the fair value at the acquisition date of any interest previously acquired plus the fair value of the non-controlling For consolidating subsidiaries, balances, income, and expenses from transactions between Group companies are eliminated. Profits and losses resulting from inter-company transactions that are recognized as assets are also eliminated. Group companies use common accounting practices, except for those that are specifically required for specific businesses. b) Changes in ownership interests in subsidiaries without change of control Transactions with non-controlling non-controlling c) Disposal of subsidiaries When the Corporation ceases to have control over a subsidiary, any retained interest in the entity is re-measured d) Joint arrangements Contracts in which the Corporation and one or more of the contracting parties have joint control on the relevant joint activities are called joint arrangements. Investments in joint arrangements are classified as either joint operations joint ventures joint ventures joint operations Joint ventures The Corporation assesses on an annual basis whether there is any objective evidence that the investment in the joint ventures and associate is impaired. If this is the case, the Corporation calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value and recognizes the impairment loss in share of the profit or loss in associates and joint ventures under the equity method of accounting in the income statement. In addition, the Corporation stops the use of the equity method if the entity ceases to be an operating entity. Joint operations In the Corporation, joint operations mainly relate to consortiums (entities without legal personality) created exclusively for the development of a construction contract. Considering that the only objective of the consortium is to develop a specific project, all revenue and costs are included within revenue from construction activities and cost of construction activities, respectively. e) Associates Associates are all entities over which the Corporation has significant influence but not control, generally accompanying a holding of between 20% and 50% of the voting rights. Investments in associates are accounted for using the equity method (see section d) above). Profits and losses resulting from transactions between the Corporation and its associates are recognized in the Corporation’s consolidated financial statements only to the extent of unrelated investor’s interests in the associates. Unrealized losses are eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates are changed where necessary to ensure consistency with the policies adopted by the Corporation. Impairment losses are measured and recorded in accordance with section d) above. |
Segment reporting | 2.3 Segment reporting Operating segments are reported in a consistent manner with internal reporting provided to the Management of the Corporation. If an entity changes the structure of its internal organization in a manner that causes the composition of its reportable segments to change, the Corporation restates the information for earlier periods unless the information is not available. |
Foreign currency translation | 2.4 Foreign currency translation a) Functional and presentation currency The consolidated financial statements are presented in Peruvian soles, which is the functional and presentation currency of the Corporation. All subsidiaries, joint arrangements, and associates use the Peruvian Sol as their functional currency, except for foreign entities, for which the functional currency is the currency of the country in which they operate. b) Transactions and balances Foreign currency transactions are translated into the functional currency using prevailing the exchange rates at the date of the transactions or valuation when items are re-measured. Exchange differences arising on loans from the Company to its subsidiaries in foreign currencies are recognized in the separate financial statements of the Company and separate financial statements of the subsidiaries. In the consolidated financial statements, such exchange differences are recognized in other comprehensive income and are re-classified c) Corporation companies The results and financial position of all the Corporation entities (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency of the Corporation are translated into the presentation currency as follows: 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 Goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and are translated at the closing exchange rate. Exchange differences are recognized in other comprehensive income. |
Public services concession agreements | 2.5 Public services concession agreements Concession agreements signed between the Corporation and the Peruvian Government entitle the Corporation, as a Concessionaire, to assume obligations for the construction or improvement of infrastructure and which qualify as public service concessions are accounted as defined by IFRIC 12 “Service Concession Arrangements”. The consideration to be received from the Government for the services of constructing or improving public infrastructure is recognized as a financial asset, an intangible asset or both, as stated below: 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). |
Cash and cash equivalents | 2.6 Cash and cash equivalents In the consolidated statements of financial position and cash flows, cash and cash equivalents include cash on hand, on-demand |
Financial assets | 2.7 Financial assets 2.7.1 Classification and measurement The Corporation classifies its financial assets, according to its subsequent measurement, in the following categories: i) amortized cost; ii) financial assets at fair value through other comprehensive income and iii) financial assets at fair value through profit or loss. The classification depends on the purpose for which the financial assets were acquired on the basis of the Corporation’s business model for managing the financial assets and the characteristics of the contractual cash flows of the financial asset. Management determines the classification of its financial assets at the date of its initial recognition and re-evaluates a) Amortized cost This category is the most relevant for the Corporation. The Corporation measures financial assets at amortized cost if the following conditions are met: i) The financial asset is held within a business model with the objective of maintaining the financial assets to obtain the contractual cash flows; and ii) The contractual terms of the financial asset generate cash flows, on specific dates, that are only payments of the principal and interest on the amount of the outstanding principal. Financial assets at amortized cost are subsequently measured using the effective interest method and are subject to impairment. Profits and losses are recognized in profits or losses when the asset is written off, modified or impaired. Trade accounts receivable, accounts receivable from related companies, other accounts receivable, work in progress and cash and cash equivalents are included in current assets except for those over twelve months after the date of the consolidated statement of financial position. The latter are classified as non-current b) Financial assets at fair value through other comprehensive results Financial assets at fair value through other comprehensive income of the Corporation are classified in this category when they meet the following conditions: i) keep them within a business model whose objective is achieved by obtaining contractual cash flows and selling financial assets; and ii) the contractual terms of the financial asset give rise, on specific dates, to cash flows that are only payments of the principal and interest on the outstanding principal amount. The investment account at Inversiones en Autopistas S.A. is included in this category. c) Financial assets at fair value through profit or loss Financial assets that do not meet the criteria of amortized costs or fair value through other comprehensive income are measured at fair value through profit or loss. The result in a debt investment that is subsequently measured at fair value through gains and losses is recognized in the consolidated statement of comprehensive income in the period in which it occurs. Financial assets at fair value through profit or loss are non-derivative 2.7.2 Derecognition of financial assets The Corporation derecognizes a financial asset when the contractual rights over the cash flows of the financial asset expire, or when it transfers the rights to receive the contractual cash flows in a transaction in which all the risks and benefits of ownership of the financial asset are substantially transferred, or does not transfer or retain substantially all the risks and benefits related to the property and does not retain control over the assets transferred. The Corporation participates in transactions in which it transfers the assets recognized in its statement of financial position but retains all or substantially all the risks and advantages of the assets transferred, and/or control over them. In these cases, the assets transferred are not derecognized and are measured on a basis that reflects rights and obligations that the Corporation has retained. |
Impairment of financial assets | 2.8 Impairment of financial assets IFRS 9 “Financial Instruments”, requires to register expected credit losses of all financial assets, except for those that are carried at fair value with an effect on results, estimating it over 12 months or for the entire life of the financial instrument (“lifetime”). In accordance with the provisions of the standard, the Corporation applies the simplified approach (which estimates the loss for the entire life of the financial instrument), for the commercial debtors of the rental business line of the real estate sector, and the general approach for the trade accounts receivables, and other accounts receivable; the same that requires evaluating whether or not a significant increase in risk exists to determine whether the loss should be estimated based on 12 months after the reporting date or during the entire life of the asset. The Corporation has established a policy to conduct an evaluation, at the end of each reporting period, to identify whether the asset has suffered a significant increase in credit risk since the initial date. Both the credit losses expected at 12 months and the expected credit losses during the life of the asset are calculated individually or collectively, depending on the nature of the portfolio. For financial assets for which the Corporation has no reasonable expectation of recovering, either the entire outstanding amount or a portion thereof, the gross carrying amount of the financial asset is reduced. This is considered a decrease in (partial) accounts of the financial asset. |
Derivative financial instruments and hedging activities | 2.9 Derivative financial instruments and hedging activities Derivatives are initially recognized at fair value on the date a derivative contract is signed into and are subsequently re-measured The Corporation designates certain derivatives as hedges of a particular risk associated with a recognized asset or liability (fair value hedge) or a highly probable forecast transaction (cash flow hedge). Derivatives are initially recognized at fair value on the date of subscription of the contract and are subsequently recognized at their fair value. The Corporation documents, at the inception of the transaction, the relationship between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedges transactions. The Corporation also documents its assessment, both at hedge inception as at the date of each subsequent statement of financial position, of whether the derivatives used in hedges transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. The fair value of various derivative instruments used for hedging purposes and changes in the account reserves for hedges in equity are disclosed in Note 8. The full fair value of a hedging derivative is classified as a non-current Cash flow hedge The effective portion of changes in the fair value of derivatives that are designated and qualify as fair value hedges is recognized as other comprehensive income. The gain or loss relating to the ineffective portion is recognized immediately in the income statement. Amounts accumulated in equity are reclassified to profit or loss in the periods when the hedged item affects profit or loss (for example, when the forecasted sale that is hedged takes place). The gain or loss relating to the effective portion of interest rate swaps hedging variable rate borrowings is recognized in the income statement as “Financial income or Financial expenses”. However, when the forecasted transaction that is hedged results in the recognition of a non-financial non-financial When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any cumulative gain or loss existing in equity at that time remains in equity and will be reversed to income when the forecasted transaction is finally recognized in the statement of comprehensive income. When a forecasted transaction is no longer expected to occur, the cumulative gain or loss that was reported in equity is immediately transferred to the income statement within “other income and expenses, net”. |
Trade accounts receivables | 2.10 Trade accounts receivables Trade receivables are amounts due from customers for goods or services sold by the Corporation. If the collection is expected in one year or less, they are classified as current assets. If not, they are presented as non-current Trade receivables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method, less any provision for impairment, except for receivables of less than one year that are stated at a nominal amount which is similar to their fair values since they are short term. It includes Management estimates corresponding to the collection rights for services performed pending invoice and/or approval by client, which have been valued using the completion percentage method. It corresponds mainly to the Engineering and Construction segment (subsidiaries Cumbra Peru S.A. and Cumbra Ingenieria S.A. (formerly GMI S.A.). In the Infrastructure segment, for concessions it corresponds to future collections for public services, mainly represented by unconditional contractual rights to be received from the Grantor under the model of the financial asset (Note 2.5). |
Work in progress | 2.11 Work in progress This account includes the balance of work in progress costs incurred that relates to future activities of the construction contracts (see Note 2.27 for detail on revenue recognition from construction activities and concessions services). Changes in estimates of contract revenues and costs can increase or decrease the estimated margin. When a change in the estimate is known, the cumulative impact of the change is recorded in the period in which it is known, based on the progress completed. |
Inventories | 2.12 Inventories The inventories include land, works in progress and finished buildings related to the real estate activity, materials used in the construction activity and marketed supplies for exploration and extraction activities. a) Real estate activity Land used for the execution of real estate projects is recognized at acquisition cost. Work in progress and finished real estate includes the costs of design, materials, direct labor, borrowing costs (directly attributable to the acquisition, construction, production of the asset), other indirect costs and general expenses related to the construction. Net realizable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses. Annually, the Corporation reviews whether inventories have been impaired identifying three groups of inventories to measure their net realizable value: i) land bought for future real estate projects which are compared to their net appraisal value; if the acquisition value is higher, a provision of impairment is recognized; ii) land under construction, impairment is measured based on cost projections; if these costs are higher than selling prices of each real estate unit, an impairment estimated is recorded; and iii) completed real estate units; these inventory items are compared to the selling prices less selling expenses; if these selling expenses are higher, a provision for impairment is recorded. For the reductions in the carrying amount of these inventories to their net realizable value, a provision is recognized for impairment of inventories with a charge to profit or loss for the year in which those reductions occur. b) Exploration and extraction activities Inventories are valued at production costs or net realizable value (NRV), the one with the lowest result, on the basis of the weighted average method. The NRV represents the value at which it is estimated to make oil, gas and its derivatives LPG and HAS, which is calculated on the basis of international prices at which discounts that are usually granted are deducted. Miscellaneous supplies, materials, and spare parts are valued at cost or replacement value, whichever is less based on the average method. The cost of inventories excludes financing expenses and exchange differences. Inventories to be received are recorded at cost by the specific identification method. The Corporation constitutes a devaluation of materials charged to income for the year in cases in which the book value exceeds its recoverable value. c) Other activities Materials and supplies are recorded at cost by the weighted average method or at their replacement value, the lower. The cost of these items includes freight and non-refundable The devaluation of these items is estimated on the basis of specific analysis made by the Management on its rotation. If it is identified that the book value of the stocks of materials and supplies exceeds their replacement value, the difference is charged to income in the year in which this situation is determined. Management considers that as of the date of the consolidated financial statements it is not necessary to establish additional provisions to those recognized in the financial statements to cover losses due to obsolescence of these inventories. |
Investment property | 2.13 Investment property Investment properties are shown at cost less accumulated depreciation and impairment losses, if any. Subsequent costs attributable to investment properties are capitalized only if it is probable that future economic benefits will flow to the Company and the cost of these assets can be measured reliably; if not, they are recognized as expenses when incurred. Repair and maintenance expenses are recognized in profit and loss when they are incurred. If the property’s carrying amount is greater than its estimated recoverable amount, an adjustment to reduce the carrying amount to the recoverable amount is recognized. Depreciation is determined by the straight-line method at a rate that is considered sufficient to absorb the cost of the assets and the end of the useful life and considered their significant components with useful lives substantially different (each component is treated separately for depreciation purposes). The estimated useful lives of those properties range from 5 to 50 years. The investment properties held by the Corporation correspond to: (i) “Agustino Plaza” Shopping Center, located in the El Agustino District, and (ii) the stores situated within the stations of Line 1 of the Lima Metro; the properties owned by the subsidiary Viva Negocio Inmobiliario S.A. are represented by a fair value amount to US$14.16 million, equivalent to S/51.31 million as of December 31, 2020 (US$18.7 million, equivalent to S/62.6 million, as of December 31 of 2019). These investment properties have been leased under the modality of an operating lease. |
Property, plant and equipment | 2.14 Property, plant and equipment Property, plant and equipment are stated at historical cost less accumulated depreciation and impairment losses, if any. Historical cost includes expenditure that is directly attributable to the acquisition of these items. Subsequent costs are included in the asset’s carrying amount or are recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Corporation and the cost of the item can be measured reliably. Repairs and maintenance expense are charged to the statement of income during the financial period in which they are incurred. Assets under construction are capitalized as a separate component. At their completion, the cost of such assets is transferred to their definitive category. Replacement units are major spare parts in which depreciation starts when the units are installed for use within the related asset. Depreciation of machinery, equipment and vehicles recognized as “Major equipment” are depreciated based on their hours of use. Under this method, the total number of work hours that machinery and equipment is capable of producing is estimated and a charge per hour is determined. The depreciation of other assets that do not qualify as “Major equipment” is calculated under the straight-line method to allocate their cost less their residual values over their estimated useful lives, as follows: 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 Residual values and useful lives are reviewed and adjusted as appropriate at each reporting date. Gains and losses on disposals are recognized in “Other income and expenses, net” in the statement of income. Regarding joint operations that carry out construction activities, the difference between the proceeds from disposals of fixed assets and their carrying amount is shown within “revenue from construction activities” and “cost of construction activities”, respectively. |
Intangible assets | 2.15 Intangible assets i) Goodwill Goodwill arises on the acquisition of subsidiaries and represents the excess of the purchase consideration, the amount of any non-controlling non-controlling Goodwill acquired in a business combination is allocated to each cash-generating units (CGU), or group of CGUs, that is expected to benefit from the synergies of the combination. Goodwill is monitored at the operating segment level. Goodwill impairment reviews are performed at least annually and when events or changes in circumstances indicate a potential impairment. Any impairment is recognized immediately as an expense in item “Other income and expenses, net” and cannot be reversed later. ii) Trademarks Trademarks acquired separately are shown at historical cost. Trademarks acquired in a business combination are recognized at fair value at the acquisition date. Management has determined that these trademarks have indefinite useful lives. Trademark impairment reviews are performed at least annually and when events or changes in circumstances indicate a potential impairment. Any impairment is recognized immediately as an expense in item “Other income and expenses, net”. The carrying amount that has been subject to impairment is reviewed at each reporting date to verify possible reversals of the impairment and is recognized in the “other income and expenses, net” item. iii) Concession rights The intangible asset consisting of the right to charge users for the services related to service concessions agreements (Note 2.5 and Note 6.b) is initially recorded at the fair value of construction or improvement services and before amortization is started, an impairment test is performed; it is amortized under the straight-line method, from the date revenue starts using the lower of its estimated expected useful life or effective period of the concession agreement. iv) Contractual relationships with customers Contractual relationships with customers are assets resulting from business combinations that were initially recognized at fair value as determined based on the expected cash flows from those relations over a period of time based on the estimated permanent of the Corporation’s customer (the estimation of useful life is based on the term of contract with customers which fluctuate between 5 and 9 years). The useful life and the impairment of these assets are individually assessed. v) Cost of development wells Costs incurred in preparing wells to extract hydrocarbons in Blocks I, III, IV, and V, located in Talara, are capitalized as part of intangible assets. These costs are amortized over the useful lives of the wells (estimated in remaining periods for Blocks I and V and the unit of production method for Blocks III and IV), until the end period of the agreements signed with Perupetro. vi) Software and development costs Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by the Corporation are recognized as intangible assets when the following criteria are met: • 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. Other development costs that do not meet these criteria are reconized in the statement of income as incurred. Development costs previously recognized as an expense are not recognized as an asset in a subsequent period. Computer software development costs recognized as assets are amortized over their estimated useful lives, which fluctuate between 2 to 15 years. vii) Land use rights Refers to the rights maintained by the subsidiary Promotora Larcomar S.A. Land use of rights are stated at historical cost less amortization and any accumulated impairment losses. The useful life of this asset is based on the agreement signed (60 years) and may be extended if agreed by parties. Amortization will begin when it becomes ready for its intended use by Management. |
Impairment of non-financial assets | 2.16 Impairment of non-financial Assets subject to amortization are subject to impairment tests when events or circumstances occur that indicate that their book value may not be recovered. Impairment losses are measured as the amount by which the book value of the asset exceeds its recoverable value. The recoverable value of the assets corresponds to the higher of its fair value and its value in use. For purposes of the impairment assessment, assets are grouped at the lowest levels in which they generate identifiable cash flows (cash-generating units). The book value of non-financial |
Financial liabilities | 2.17 Financial liabilities The financial liabilities of the Corporation include trade accounts payable, accounts payable to related parties, remuneration and other accounts payable. All financial liabilities are initially recognized at fair value and subsequently valued at amortized cost using the effective interest rate method. Financial liabilities are classified as current liabilities if the payment must be made within a year or less (or in the normal operating cycle of the business if it is greater), otherwise, they are presented as non-current |
Trade accounts payable | 2.18 Trade accounts payable Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business. Accounts payable are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer), if not, they are presented as non-current Accounts payable are initially recognized at their fair value and subsequently are amortized at amortized cost using the effective interest method, except for accounts payable within less than one year that are recorded at their nominal value that is similar to their fair value due to its maturity in the short term. |
Financial liabilities at fair value through profit or loss | 2.19 Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include liabilities designated at initial recognition as at fair value through profit or loss. Financial liabilities designated at initial recognition at fair value through profit or loss are designated at the initial recognition date, and only if the criteria of IFRS 9 are met. The Company has only designated the obligation with BCI Peru as a financial liability at fair value through profit or loss, see note 18. |
Other financial liabilities | 2.20 Other financial liabilities Corresponds to the loans and bonds issued by the Corporation, which are initially recognized at their fair value, net of the costs incurred in the transaction. These financial liabilities are subsequently recorded at amortized cost; any difference between the funds received (net of transaction costs) and the redemption value is recognized in the statement of income during the period of the loan using the effective interest method. The costs incurred to obtain these financial liabilities are recognized as transaction costs to the extent that it is probable that part or the entire loan will be received. In this case, these charges are deferred until the time the loan is received. |
Borrowing costs | 2.21 Borrowing costs Debt costs are recognized at the statement of income in the period in which they have been incurred, except for intangible assets and inventories in which the borrowing costs are capitalized. General and specific borrowing costs directly attributable to the acquisition, construction or production of qualified assets, which are assets that necessarily take a substantial period (more than 12 months) to reach their condition of use or sale, are added to the cost of said assets until the period when the assets are substantially ready for use or sale. The Corporation suspends the capitalization of borrowing costs during the periods in which the development of activities of a qualified asset has been suspended. The income obtained from the temporary investment of specific loans that have not yet been invested in qualified assets is deducted from the borrowing costs eligible for capitalization. |
Current and deferred income tax | 2.22 Current and deferred income tax Income tax expense comprises current and deferred tax. Tax expense is recognized in the statement of income, except to the extent that it relates to items recognized in other comprehensive income or directly in equity. In this case, tax is also recognized in the statement of comprehensive income or directly in equity, respectively. The current income tax is calculated based on the tax laws enacted at the date of the statement of financial position in the countries where the Company and its subsidiaries operate and generate taxable income. Management, where appropriate, establishes provisions based on amounts expected to be paid to the tax authorities. Deferred tax is recognized on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred income tax assets are recognized only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilized. Deferred income tax is determined using tax rates (and legislation) that have been enacted as of the date of the statement of financial position and that are expected to be applicable when the deferred income tax is realized or paid. Deferred income tax is provided on temporary differences arising on investments in subsidiaries and associates, except for deferred income tax liability where the timing of the reversal of the temporary difference is controlled by the Corporation, and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred income tax arising from the initial recognition of goodwill is not recognized; likewise, the deferred tax is not recorded if it arises from the initial recognition of an asset or liability in a transaction that is not a business combination that does not affect the accounting or tax profit or loss at the time of the transaction. |
Employee benefits | 2.23 Employee benefits The Corporation recognizes a liability when the employee has rendered services in exchange for which is entitled to receive future payments and an expense when the Corporation has consumed the economic benefit from the service provided by the employee in exchange for the benefits in question. The Corporation determines employee benefits in accordance with current labor and legal regulations and classifies them as short-term benefits, long-term benefits, and termination benefits. Short-term benefits are those other than termination indemnities, whose payment is settled in the twelve months following the end of the period in which the employees have rendered the services; they correspond to current remunerations (salaries, wages and contributions to social security), annual paid and sick absences, participation in profits and incentives and other non-monetary Long-term benefits are those benefits that must be paid more than twelve months after the end of the period in which the services were rendered. As of December 31, 2019, and 2020, the Corporation does not grant benefits in this category. Termination benefits are those benefits payable as a result of (i) the entity’s decision to terminate the employee’s contract before the retirement date, and (ii) the employee’s decision to voluntarily accept the conclusion of the relationship of work. Short-term benefits: a) Current salaries and wages The current remunerations are constituted by salaries, wages, contributions to social security, statutory bonuses and compensation for the time of services. Salaries, wages, and contributions to social security are settled on a monthly basis. Entities of the Corporation recognize the expense and the related liability for statutory bonuses based on applicable laws and regulations effective in Peru, Chile, and Colombia. In Peru bonuses correspond to two monthly payments, settled one in July and one in December of each year, and accrue based on the consideration of the service. The compensation for time of service corresponds to the indemnification rights of the staff, and is accrued based on the consideration of the service calculated according to the legislation in force in each country in which the entities of the Corporation operate and determine as follows: (i) in Peru it is equivalent to half the remuneration in force at the date of payment and this is effected by deposit in bank accounts designated by the workers in the months of May and November of each year; (ii) In Colombia, it is equivalent to 8.33% of the monthly remuneration, (iii) In Chile this benefit is not available. b) Annual paid absences Annual holidays are recognized on an accrual basis. The provision for the estimated obligation for the annual vacations of personnel resulting from the services rendered by employees is recognized on the date of the consolidated statement of financial position and corresponds; (i) one month for personnel in Peru, (ii) fifteen days for personnel in Colombia, and (iii) in the case of Chile, they are subject to the worker’s seniority and range from fifteen to thirty days. c) Workers’ profit sharing and incentives The workers’ profit sharing is determined on the basis of the legal provisions in force in each country where the entities of the Corporation operate, as follows: (i) in Peru it is equivalent to 5% of the taxable base determined by each entity of the Corporation, in accordance with current income tax legislation, (ii) in Chile, workers’ participation is a component of the remuneration (equivalent to 4.75 minimum wages per year) and not a determinable percentage of the profit, (iii) in Colombia these benefits are not provided to employees. Termination benefits The Corporation entities recognize the liability and expense for severance payments when they occur, based on the legal provisions in force in each country. In accordance with the legislation of Peru, the compensation for arbitrary dismissal for personnel with an indefinite contract amounts to 1.5 times the monthly remuneration for each year worked. In Colombian legislation, for the first year worked, the equivalent of 30 days of salary is granted, and from the second year on, the compensation will be the equivalent of 20 days of salary for each additional year (or the proportion); in the legislation of Chile is granted compensation of thirty days of salary for each year worked with a maximum salary of 330 days. |
Provisions | 2.24 Provisions a) General Provisions are recognized when i) the Corporation has a present, legal or constructive obligation as a result of past events; ii) it is probable that an outflow of resources will be required to settle the obligation; and iii) the amount has been reliably estimated. Provisions are reviewed at year - end. If the time value of money is significant, provisions are discounted using a pre-tax Contingent obligations when their existence will only be confirmed by future events or their amount cannot be reliably measured. Contingent assets are not recognized and are disclosed only if it is probable that the Corporation will generate an income from economic benefits in the future. b) Provision for the closure of production wells The subsidiary UNNA ENERGIA S.A. (formerly GMP S.A.) recognizes a provision for the closure of operating units that correspond to the legal obligation to close oil production wells once the production phase has been completed. At the initial date of recognition, the liability that arises from this obligation measured at its fair value and discounted at its present value, according to the valuation techniques established by IFRS 13, “Fair Value Measurement”, and is simultaneously charged to the intangible account in the consolidated statement of financial position. Subsequently, the liability is increased in each period to reflect the financial cost considered in the initial measurement of the discount, and the capitalized cost is depreciated based on the useful life of the related asset. When a liability is settled, the subsidiaries recognize any gain or loss that may arise. The fair value changes estimated for the initial obligation and the interest rates used to discount the flows they are recognized as an increase or decrease in the book value of the obligation and the asset to which they relate to, any decrease in the provision, and any decrease of the asset that may exceed the carrying amount of said asset is immediately recognized in the consolidated statement of income. If the review of the estimated obligation results in the need to increase the provision and, accordingly, increase the carrying amount of the asset, the subsidiaries should also take into consideration if the said increase corresponds to an indicator that the asset has been impaired and, if so, impairment tests are to be carried out (Note 2.16). |
Put option arrangement | 2.25 Put option arrangement The subsidiary Cumbra Peru S.A. signed a sale option contract on the equity of its subsidiary Morelco S.A.S. (Note 32) that allows the shareholder to reallocate its shares over a period of 10 years. The amount payable under the option is initially recognized at the present value of the reimbursement under “Other accounts payable”, directly charged to equity. The charge to equity is recorded separately as put options subscribed on the non-controlling non-controlling Subsequently, the financial liability is updated by changes in the assumptions on which the estimation of the expected cash flows is based and by the financial component due to the passage of time. The effects of this update are recognized in results. In the event that the option expires without being exercised, the liability is written off with the corresponding adjustment to equity. |
Capital | 2.26 Capital Common shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity, as a deduction, of the proceeds, net of taxes. |
Revenue recognition from contracts with customers | 2.27 Revenue recognition from contracts with customers Revenues from contracts with customers are recognized, for each performance obligation, either during a period of time or at a specific time, depending on which method best reflects the transfer of control of the underlying products or services to the obligation of particular performance with the client. The Corporation recognizes the income through the application of the five steps defined in the regulation i) identification of the contract with the client; ii) identification of performance obligations in the contract; iii) determination of the price of the transaction; iv) allocation of the transaction price for performance obligations; and v) recognition of income when (or as) a performance obligation is satisfied. Subsequently, the Corporation policy of recognition of each type of income according to IFRS 15: i) Engineering and construction Revenues from engineering and construction contracts are recognized over time as the Corporation performs its obligations because there is a continuous transfer of control of the deliverable to the customer pursuant to the terms of such contracts. For this reason, the Corporation accounts for revenue over time by measuring the progress towards complete satisfaction of its performance obligations under each contract. In this manner, revenues are accounted for using the percentage-of-completion The Corporation recognizes revenue based on surveys of work to date, using the output method, which is the direct measurement of the value to the customer of the construction services completed to date relative to the remaining services to be performed under the contract. The Corporation believes that the use of the output method based on surveys of performance provides a faithful depiction of the transfer of services by the Corporation to the customer because it reflects an enforceable right to payment from the Corporation for the work completed to date. The contract generates assets when the costs incurred are greater than the cost associated with those revenues. Otherwise, liabilities are generated for the accrued costs not invoiced. When it is probable that the total costs of the contract will exceed the related revenue, the expected loss is immediately recognized. Revenues for additional work resulting from a modification or an instruction received from the customer to make a change in the scope of work or the price, or both, will result in an increase in contract revenue. The Corporation does not account for contract modifications unless approved by the customer. In addition, the Corporation reviews the enforceability of changes to the rights and obligations in contract modifications. As part of its evaluation of whether changes to the rights and obligations in a contract modification are enforceable, the Corporation considers whether one or more of the following factors has been satisfied: a) the contract, applicable law or other evidence provides a legal basis for the modification; b) additional costs were caused by circumstances that were unforeseen on the date of execution of the contract and not a result of deficiencies incurred by the Corporation’s performance; c) modification-related costs are identifiable and considered reasonable in view of the work performed; or d) evidence supporting the modification is objective and verifiable. When one or more of the foregoing factors is satisfied, the changes to the rights and obligations in the contract modification are considered by the Corporation to be enforceable. The Corporation estimates the change in the transaction price arising from the contract modification if the transaction price has not yet been approved by the customer in accordance with the requirements of IFRS 15 to estimate variable consideration. In order to include variable consideration related to a contract modification in the estimated transaction price, the Corporation must conclude that it is ‘highly probable’ that a significant revenue reversal will not occur. The Corporation determines the probability that the revenue reversal will occur (and therefore whether such price will be recovered) based on an analysis of whether any of the following factors is present: i) contractual entitlement; ii) past practices with the customer; iii) specific discussions or preliminary negotiations with the customer; and iv) verbal approval by the customer. If, as a result of such analysis, the Corporation concludes that it is ‘highly probable’ that a significant reversal in the amount of revenue recognized will not occur, it recognizes the variable consideration relating to the contract modification. When the contract profit cannot be estimated reliably, the associated revenue is recognized to the extent of costs incurred are recoverable. Revenue is billed once approval is received by the owners of the work in progress. The nature of certain contracts, such us cost-plus fee contracts in its E&C segment and unit price or similar contracts in its E&C segment and certain services it provides in its Infrastructure segment, give rise to variable consideration. Depending on the type of contract, this variable consideration may include reimbursable or target costs; variable number of units; award and incentive fees; and penalties. The Corporation estimates the amount of revenue to be recognized as variable consideration using the expected value method or the most likely amount method, whichever is expected to better predict the amount of consideration to which the Corporation will be entitled. These methods require the Corporation to estimate costs, unit quantities, award/incentive fees and penalties. In making such estimates, judgments are required to evaluate potential variances in the cost of materials, the cost of labor, productivity levels, the impact of change orders, liability claims and contract disputes, the achievement of contractual performance standards, and other contingencies.” ii) Real-estate Sale of Real estate Revenue from sales of real estate properties is recognized when control over the property has been transferred to the client with the delivery record. Revenue is measured based on the price agreed under the contract. Until this is met, the incomes received will be counted as customer advances. These sales contracts have two performance obligations: i) the one corresponding to the transfer of the property, which includes the common areas of the building where these real estates are located, and ii) the one corresponding to the transfer of the common area outside the real estate assets but that are part of the real estate projects, which are recognized when the common area has been delivered. Sale of urban lots Revenue related to sales of urban lots is recognized when control over the property is transferred to the customer. Until this is met, the incomes received will be recognized as customer advances. Revenue is measured based on the transaction price agreed under the contract. These sales contracts have a single performance obligation for the sale of lots, which is executed upon delivery of the sale of the assets. Sale of industrial lots Revenue related to sales of industrial lots is recognized when control over the property has been transferred to the customer. Until this is met, the incomes received will be counted as customer advances. These sales contracts have two performance obligations: i) transfer of the industrial lot and ii) urban authorization of the industrial lot. iii) Infrastructure Income for provided services of oil and gas extraction, fuel dispatch and other services The revenue from providing these services is recognized at the time the service is provided, calculating the service actually provided as a portion of the total services to be provided. This type of income has a single performance obligation; that is performed when the service is provided at a time moment. Income from the sale of oil and derivative products Revenue from the sale of goods is recognized when the control of the assets is transferred to the customer, which is when the goods are delivered. In this type of income there is only one performance obligation for the sale of oil; which is executed at the delivery of the goods. Income from concession services Revenues from concession services correspond to operation and maintenance services, and are recognized according to their nature in the period in which the service is provided. In this revenue there is only one performance obligation, executed when the service is provided. |
Recognition of cost and expenses | 2.28 Recognition of cost and expenses Engineering and construction contracts Contract costs include all direct costs such as materials, labor, subcontracting costs, manufacturing and supply costs of equipment, start-up Costs for sale of oil and derivative products The costs of the services rendered and the costs of sales of petroleum and derivative products are recognized when they are incurred, simultaneously with the recognition of related revenues. Other costs and expenses are recognized as they accrue, regardless of when they are paid and are recorded in the accounting periods to which they relate. Costs for concession operation services The costs of the operation and maintenance services are recognized when they are incurred, simultaneously with the recognition of related revenues. Other costs and expenses are recognized as they are accrued, regardless of when they are paid and are recorded in the accounting periods with which they are related. |
Leases | 2.29 Leases Lease contracts are analyzed for the purpose of identifying those containing the characterisctics according to IFRS 16 Leases (hereinafter “IFRS 16”) for recognition, measurement, presentation and disclosure. The Corporation evaluates in every lease contract the following: • 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) Leases in which the Corporation is a lessee The Corporation recognizes a right-of-use The right-of-use right-of-use The lease liability is the total unpaid installments, measured at amortized cost using the effective interest method. It is measured again when there is a change in future lease payments that arise from a change in an index or rate, if there is a change in the Corporation’s estimate of the amount expected to be paid under a residual value guarantee, or if the Corporation changes its assessment of whether it is sure that it will exercise a purchase, extension or term option. When the lease liability is measured again, the carrying amount of the right-of-use In engineering and construction segment, interest expenses related to leasing contracts of the core business are reported in gross margin; the rest of the Corporation segments, report them in financial expenses. Operational cash flows will be greater since cash payments for the main portion of the lease debt are classified within the financing activities. Only the part of the payments that reflects interest can continue to be presented as operating cash flow. b) Leases in which the Corporation is a lessor Liabilities for operating leases and assets are included in the statement of financial position according to the nature of the asset. Revenues from operating leases are recognized in a straight line over the term of the lease agreement and the incentives granted to lessees are reduced from rental income. Based on the foregoing, the Corporation as lessor has not changed the recognition of its leases. |
Dividend distribution | 2.30 Dividend distribution Dividend distribution to the Corporation shareholders is recognized as a liability in the financial statements in the period in which the dividends are approved. |
Significant non-operating items | 2.31 Significant non-operating Significant non-operating |
Account balance reclassified as of December 31, 2018 and 2019 | 2.32 Account balance reclassified as of December 31, 2018 and 2019 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, 2018 and 2019 the subsidiary was recognized as a non-current As of As of 2019 Reclassified (a) Adexus (b) 2019 Audited As restated ASSETS 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 205,418 — (203,020 ) 2,398 Total current assets 3,070,669 — (90,898 ) 2,979,771 Non-current 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 78,813 — 11,768 90,581 Deferred income tax asset 240,919 — 30,800 271,719 Total non-current 3,333,795 — 90,898 3,424,693 Total assets 6,404,464 — — 6,404,464 As of As of 2019 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 210,025 — (210,025 ) — Total current liabilities 2,680,846 — (122,263 ) 2,558,583 Non-current 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 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 398,275 — — 398,275 Total equity 1,876,085 — — 1,876,085 Total liabilities and equity 6,404,464 — — 6,404,464 As a result of this process, the amounts in the consolidated statement of income are reclassified as follows: For the year ended December 31, 2018 Reported Adexus As restated Revenues from construction activities 1,961,100 — 1,961,100 Revenues from services provided 1,003,623 85,692 1,089,315 Revenue from real estate and sale of goods 934,739 217,244 1,151,983 3,899,462 302,936 4,202,398 Cost of construction activities (1,921,112 ) — (1,921,112 ) Cost of services provided (741,172 ) (165,781 ) (906,953 ) Cost of real estate and sale of goods (562,689 ) (97,674 ) (660,363 ) (3,224,973 ) (263,455 ) (3,488,428 ) Gross profit 674,489 39,481 713,970 Administrative expenses (278,433 ) (32,730 ) (311,163 ) Other income and expenses (61,335 ) (4,519 ) (65,854 ) Loss from the sale of investments (7 ) — (7 ) Operating profit 334,714 2,232 336,946 Financial expenses (247,982 ) (12,786 ) (260,768 ) Financial income 50,925 611 51,536 (3,709 ) — (3,709 ) Profit (loss) before income tax 133,948 (9,943 ) 124,005 Income tax expense (113,318 ) 2,325 (110,993 ) Profis (loss) from continuing operations 20,630 (7,618 ) 13,012 Profit from discontinued operations 36,785 7,618 44,403 Profit for the period 57,415 — 57,415 Profit (loss) attributable to: Owners of the Company 11,336 (94,524 ) (83,188 ) Non-controlling 46,079 94,524 140,603 57,415 — 57,415 For the year ended December 31, 2019 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 46,079 — 46,079 (838,642 ) — (838,642 ) |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Estimated Useful Life of Property, Plant and Equipment | The depreciation of other assets that do not qualify as “Major equipment” is calculated under the straight-line method to allocate their cost less their residual values over their estimated useful lives, as follows: 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 |
Summary of Reclassified Discontinued Operations | As of As of 2019 Reclassified (a) Adexus (b) 2019 Audited As restated ASSETS 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 205,418 — (203,020 ) 2,398 Total current assets 3,070,669 — (90,898 ) 2,979,771 Non-current 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 78,813 — 11,768 90,581 Deferred income tax asset 240,919 — 30,800 271,719 Total non-current 3,333,795 — 90,898 3,424,693 Total assets 6,404,464 — — 6,404,464 As of As of 2019 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 210,025 — (210,025 ) — Total current liabilities 2,680,846 — (122,263 ) 2,558,583 Non-current 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 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 398,275 — — 398,275 Total equity 1,876,085 — — 1,876,085 Total liabilities and equity 6,404,464 — — 6,404,464 As a result of this process, the amounts in the consolidated statement of income are reclassified as follows: For the year ended December 31, 2018 Reported Adexus As restated Revenues from construction activities 1,961,100 — 1,961,100 Revenues from services provided 1,003,623 85,692 1,089,315 Revenue from real estate and sale of goods 934,739 217,244 1,151,983 3,899,462 302,936 4,202,398 Cost of construction activities (1,921,112 ) — (1,921,112 ) Cost of services provided (741,172 ) (165,781 ) (906,953 ) Cost of real estate and sale of goods (562,689 ) (97,674 ) (660,363 ) (3,224,973 ) (263,455 ) (3,488,428 ) Gross profit 674,489 39,481 713,970 Administrative expenses (278,433 ) (32,730 ) (311,163 ) Other income and expenses (61,335 ) (4,519 ) (65,854 ) Loss from the sale of investments (7 ) — (7 ) Operating profit 334,714 2,232 336,946 Financial expenses (247,982 ) (12,786 ) (260,768 ) Financial income 50,925 611 51,536 (3,709 ) — (3,709 ) Profit (loss) before income tax 133,948 (9,943 ) 124,005 Income tax expense (113,318 ) 2,325 (110,993 ) Profis (loss) from continuing operations 20,630 (7,618 ) 13,012 Profit from discontinued operations 36,785 7,618 44,403 Profit for the period 57,415 — 57,415 Profit (loss) attributable to: Owners of the Company 11,336 (94,524 ) (83,188 ) Non-controlling 46,079 94,524 140,603 57,415 — 57,415 For the year ended December 31, 2019 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 46,079 — 46,079 (838,642 ) — (838,642 ) |
Financial Risk Management (Tabl
Financial Risk Management (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Schedule of Consolidated Statement of Financial Position | As of December 31, the consolidated statement of financial position includes the following: 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 |
Schedule of Foreign Currency Exchange Gains and Losses Exposure against US Dollar | The Corporation’s exchange gains and losses for the Peruvian Sol, the Chilean and Colombian Pesos exposure against the U.S. dollar was: 2018 2019 2020 Gain 383,085 392,942 426,850 Loss (406,789 ) (425,782 ) (432,652 ) |
Schedule of Assets and Liabilities Equivalent to Functional Currency | The consolidated statement of changes in equity comprises a foreign currency translation adjustment originated by its subsidiaries. The consolidated statement of financial position includes assets and liabilities in functional currency equivalent to (in thousands): 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 |
Schedule of Undiscounted Cash Flows of Financial Liabilities | The table below analyzes the Corporation’s financial liabilities into relevant maturity groupings based on the remaining period from the date of the consolidated statement of financial position to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. As of December 31, 2019 Less than 1-2 2-5 More than Total Other financial liabilities (except for finance leases and lease liability for right-of-use 501,864 147,473 235,222 — 884,559 Finance leases 11,438 3,531 13,346 — 28,315 Lease liability for right-of-use 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 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 220,602 2,505 219,788 — 442,895 Other non-financial — 52 — — 52 1,909,120 373,632 894,193 1,090,347 4,267,292 As of December 31, 2020 Less than 1-2 2-5 More than Total Other financial liabilities (except for finance leases and lease liability for right-of-use 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 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 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 288,037 2,185 115,321 — 405,543 1,944,734 477,542 739,723 1,015,978 4,177,977 |
Schedule of Information About Gearing Ratio | As of December 31, 2019, and 2020, the gearing ratio is presented below indicating the Corporation’s strategy to keep it in a range from 0.10 to 0.70. 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 1,595,296 Total capital 2,740,021 2,526,207 Gearing ratio 0.32 0.37 |
Schedule of Assets and Liabilities Measured at Fair Value | The table below shows the Corporation’s assets and liabilities measured at fair value: Level 2 Level 3 As of December 31, 2019 Financial liabilities Derivatives used for hedging (a) 52 — As of December 31, 2020 Financial liabilities Other financial entities (Note 18-d) — 152,523 (a) As of December 31, 2020, this financial liability was liquidated. |
Critical Accounting Estimates_2
Critical Accounting Estimates and Judgments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Sensitivity Analysis Based on 10% Increase/Decrease in Assumptions of Gross Margin, Discount Rate, Terminal Growth Rate (Details) | As of December 31, 2019, and 2020 the Corporation has performed a sensitivity analysis increasing or decreasing the assumptions of gross margin, discount rate, and revenue and terminal growth rate by a 10%, with all the other variables held constant, as follows: 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 % |
Summary of Sensitivity Analysis Performed Considering a 10% Increase/Decrease in Group's Gross Margins | As of December 31, 2018, 2019 and 2020, a sensitivity analysis was performed considering a 10% increase/decrease in the Corporation’s gross margins, as follows: 2018 2019 2020 Revenues 1,961,100 2,411,880 1,815,671 Gross profit 32,685 60,317 99,362 % 1.67 2.50 5.47 Plus 10% 1.84 2.75 6.02 Increase in profit before income tax 3,399 6,010 9,941 36,084 66,327 109,303 Less 10% 1.50 2.25 4.92 Decrease in profit before income tax (3,399 ) (6,010 ) (9,941 ) 29,286 54,307 89,421 |
Interest in Other Entities (Tab
Interest in Other Entities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Investments accounted for using equity method [abstract] | |
Summary of Principal Direct and Indirect Subsidiaries Classified by Operating Segment | The following table shows the principal direct and indirect subsidiaries classified by operating segment (Note 7): Name Country Economic activity Engineering and Construction: Cumbra Peru 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. Cumbra Ingenieria 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 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: UNNA Energia S.A. Peru Oil and oil by-products 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. Name Country Economic activity Concar S.A.C. Peru Highway and roads concessions operation and maintenance. Tren Urbano de Lima 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 Negocio Inmobiliario 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 Corporation’s 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. Perú Activities related to the generation, cogeneration, transmission, import, export and distribution of electrical energy. |
Summary of Group's Subsidiaries and Related Interests | The following table shows the Corporation’s subsidiaries and related interest as of December 31, 2020: Percentage of Percentage of Percentage of shares held by the Group (%) Percentage of held by non-controlling Engineering and Construction: Cumbra Peru 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 % Cumbra Ingenieria S.A. 89.41 % — 89.41 % 10.59 % - Ecología Tecnología Ambiental S.A.C. — 100.00 % 100.00 % — - GM Ingenieria y Construccion de CV — 100.00 % 100.00 % — - GM Ingenieria Bolivia S.R.L. — 98.57 % 98.57 % 1.43 % Infrastructure: UNNA ENERGIA 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 % — Tren Urbano de Lima 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 % Concesion Canchaque S.A. 99.96 % 0.04 % 100.00 % — Concesionaria Via Expresa Sur S.A. 99.98 % 0.02 % 100.00 % — Real Estate: Viva Negocio Inmobiliario 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 % — The following table shows the Corporation’s subsidiaries and related interest as of December 31, 2019: Percentage of common shares directly held by Parent (%) Percentage of Percentage of Percentage of held by non-controlling Engineering and Construction: Cumbra Peru 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 % Cumbra Ingenieria S.A. 89.41 % — 89.41 % 10.59 % - Ecología Tecnología Ambiental S.A.C. — 100.00 % 100.00 % — - GM Ingenieria y Construccion de CV — 99.00 % 99.00 % 1.00 % - GM Ingenieria Bolivia S.R.L. — 98.57 % 98.57 % 1.43 % Infrastructure: UNNA ENERGIA 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 % — Tren Urbano de Lima 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 % Concesion Canchaque S.A. 99.96 % 0.04 % 100.00 % — Concesionaria Via Expresa Sur S.A. 99.98 % 0.02 % 100.00 % — Real Estate: Viva Negocio Inmobiliario 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 % — |
Summary of Group's Subsidiaries Non-controlling Interests | As of December 31, the non-controlling 2019 2020 Viva Negocio Inmobiliario S.A. and subsidiaries 168,839 132,238 Cumbra Peru S.A. and subsidiaries 61,569 51,798 Norvial S.A. 63,031 57,941 UNNA ENERGIA S.A. 24,413 24,162 Tren Urbano de Lima S.A. 77,564 59,231 Promotora Larcomar S.A. 3,058 3,022 Other (199 ) (702 ) 398,275 327,690 |
Summarized Financial Information of Subsidiaries With Material Non-controlling Interests | Summarized statement of financial position Viva Negocio and subsidiaries Cumbra Peru S.A. and subsidiaries Norvial S.A. Tren Urbano de Lima S.A. As of December 31, As of December 31, As of December 31, As of December 31, 2019 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 ) (1,687,355 ) (53,715 ) (45,185 ) (93,879 ) (85,616 ) Current net assets (liabilities) 327,810 291,887 (259,261 ) (337,302 ) 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 ) (439,253 ) (282,358 ) (254,979 ) (668,080 ) (680,905 ) Non-current 83,678 85,845 613,294 652,867 159,828 148,301 (45,047 ) (45,069 ) Net assets 411,488 377,732 354,033 275,565 191,002 175,578 310,254 236,925 Summarized income statement Viva Negocio and subsidiaries Cumbra Peru S.A. and subsidiaries Norvial S.A. Tren Urbano de Lima 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 ) (76,669 ) 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 ) (78,422 ) 17,252 (624 ) 81,445 60,841 Other comprehensive income — 0 (7,436 ) 7,368 — 0 — 0 Total comprehensive income for the year 23,729 14,962 (154,360 ) (71,054 ) 17,252 (624 ) 81,445 60,841 Summarized statement of cash flows Viva Negocio Cumbra Peru S.A. Norvial S.A. Tren Urbano de Lima 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 ) 1,400 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 19,115 (33,564 ) (2,737 ) 109,718 (92,921 ) Cash and cash equivalents at the beginning of the year 93,262 60,718 172,628 336,467 99,850 66,286 191,178 300,896 Cash and cash equivalents at the end of the year 60,718 73,531 336,467 355,582 66,286 63,549 300,896 207,975 |
Summary of Group's Public Services Concessions | The concessions held by the Corporation are as follows as of December 31, 2020: Name of Description Estimated Consideration Ordinary Concession Accounting 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 Sedapal´s collection trust. 50.00% 2036 Financial asset Tren Urbano de Lima 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 concession Description Estimated Consideration Ordinary Concession Accounting 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. The Company obtained the concession 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 Bifurcated |
Summary of Group's Major Joint Operations | The table below lists the Corporation’s major Joint Operations. Percentage of interest Joint operations 2018 2019 2020 AENZA S.A.A. - Concesionaria La Chira S.A. 50 % 50 % 50 % Cumbra Peru S.A. - Consorcio CDEM 85 % 85 % — - Consorcio Huacho Pativilca 67 % 67 % 67 % - Consorcio GyM – CONCIVILES 67 % 67 % 67 % - Consorcio AMDP norte 50 % — 50 % - Consorcio Chicama - Ascope 50 % 50 % — - Consorcio Constructor Alto Cayma 50 % 50 % 50 % - Consorcio Energia y Vapor 50 % 50 % — - Consorcio Ermitaño 50 % 50 % 50 % - Consorcio GyM Sade Skanska 50 % 50 % — - Consorcio GYM-OSSA — 50 % 100 % - Consorcio GyM-Stracon 50 % 50 % 50 % - Consorcio HV GyM 50 % 50 % 50 % - Consorcio La Chira 50 % 50 % 50 % - Consorcio Lima Actividades Comerciales Sur 50 % 50 % 50 % - Consorcio Lima Actividades Sur 50 % 50 % 50 % - Consorcio Menegua 50 % 50 % — - Consorcio para la Atencion y Mantenimiento de Ductos 40 % - — - Consorcio Rio Mantaro 50 % 50 % — - Consorcio Río Urubamba 50 % 50 % 50 % - Consorcio TNT Vial y Vives - DSD Chile LTDA 50 % 50 % — - Constructora Incolur DSD Limitada 50 % 50 % — - Consorcio Alto Cayma 49 % 49 % 49 % - Consorcio La Gloria 49 % 49 % 49 % - Consorcio Norte Pachacutec 49 % 49 % 49 % - Consorcio Italo Peruano 48 % 48 % 48 % - Consorcio Vial Quinua 46 % 46 % 46 % - Consorcio Constructor Ductos del Sur 29 % 29 % 29 % - Consorcio Constructor Chavimochic 27 % 27 % 27 % - Consorcio Inti Punku — — 49 % - Consorcio Pasco — 1 % 1 % UNNA ENERGIA S.A. - Consorcio Terminales 50 % 50 % 50 % - Terminales del Perú 50 % 50 % 50 % Percentage of interest Joint operations 2018 2019 2020 Concar S.A.C. - Consorcio Ancon-Pativilca 67 % 67 % 67 % - Consorcio Peruano de Conservación 50 % 50 % 50 % - Consorcio Manperan 67 % 67 % 67 % - Consorcio Vial Sierra 100 % 50 % 50 % - Consorcio Vial Ayahuaylas 99 % 99 % 99 % - Consorcio Vial ICAPAL 10 % 10 % 10 % - Consorcio Vial Sullana 99 % 99 % 99 % - Consorcio Vial del Sur 99 % 99 % 99 % - Consorcio Obras Viales — 99 % 99 % Cumbra Ingenieria S.A. - Consorcio Vial la Concordia 88 % 88 % 88 % - Consorcio GMI- Haskoningdhv 70 % 70 % 70 % - Consorcio Supervisor Ilo 55 % 55 % 55 % - Consorcio Poyry-GMI 40 % 40 % 40 % - Consorcio Internacional Supervision Valle Sagrado 33 % 33 % 33 % - Consorcio Ecotec — GMI — PIM 30 % 30 % 30 % - Consorcio Ribereño Chinchaycamac — 40 % 40 % - Consorcio Supervisor GRH — — 64 % - Consorcio Ecotec — GMI — — 20 % Joint operations agreements listed above are operated in Peru, Chile and Colombia. On November 2, 2019, the operation contract of Consorcio Terminales of the subsidiary UNNA ENERGIA S.A., corresponding to the terminals of Pisco, Mollendo, Ilo, Cusco and Juliaca, was terminated, and the assets and operations were delivered to Petroperú. Currently, it is in the process of liquidating assets and liabilities. The main activities of the joint operations correspond to: 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. Cumbra Peru S.A. These joint operations were created exclusively to development of construction contracts. UNNA ENERGIA 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. Cumbra Ingenieria S.A. Engineering consulting services in, study and project execution, project management and Works supervision. |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Disclosure of Profit before Income Tax Reconciles to EBITDA | EBITDA is reconciled to operating income (loss) before income taxes as follows: 2018 2019 2020 Net profit (loss) 57,415 (838,642 ) (190,344 ) Financial income and expenses 209,232 178,787 117,523 Income tax 110,993 303,371 58,444 Depreciation and amortization 206,520 219,817 197,125 Initial EBITDA 584,160 (136,667 ) 182,748 Extraordinary adjustments to EBITDA Impairment of investments — 261,924 — Impairment of accounts receivables — 332,862 102,148 Impairment of goodwill — 33,089 — Provisions: civil compensation and legal claims 73,499 127,147 89,084 Provisions for labor claims — — 7,434 Impairment recovery — (40,094 ) — Adjusted EBITDA 657,659 578,261 381,414 |
Disclosure of Detailed Information About EBITDA for Each Segment | EBITDA for each segment is as follows: 2018 2019 2020 Engineering and construction 44,003 51,147 55,766 Infrastructure 409,626 403,554 290,335 Real estate 240,991 56,821 32,555 Parent company operations 49,671 (417,954 ) (93,931 ) Intercompany eliminations (86,632 ) 484,693 96,689 EBITDA 657,658 578,261 381,414 |
Summary of Breakdown by Operating Segments | Backlog refers to the expected future revenue undersigned 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 |
Disclosure of Detailed Information About Operating Segments Financial Position and Profit (Loss) | The following table shows the Corporation’s financial statements by operating segments: Operating segments financial position Segment reporting Infrastructure As of December 31, 2019 Engineering and Energy Toll roads Transportation Water Real estate Parent 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 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 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 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 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 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 Energy Toll roads Transportation Water Real estate Parent 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 1,342 102,103 (218,159 ) 27,338 Other accounts receivable 323,084 27,900 23,631 13,220 197 10,446 35,051 2 433,531 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 1,492,252 163,694 213,387 367,610 8,316 541,703 258,531 (219,884 ) 2,825,609 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 1,322,865 (1,411,394 ) 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 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 53,536 5,123 262,165 Total non-current 1,109,599 511,053 440,074 635,836 20,110 120,223 2,207,747 (1,757,687 ) 3,286,955 Total assets 2,601,851 674,747 653,461 1,003,446 28,426 661,926 2,466,278 (1,977,571 ) 6,112,564 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 17,738 21,531 — 19,074 15,708 (216,420 ) 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 8,876 18,943 1,659 — — 492 62,787 — 92,757 Total current liabilities 1,843,158 118,057 143,477 85,616 993 249,816 279,652 (222,797 ) 2,497,972 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 2,762 23,357 4,654 — 183,232 Long-term accounts payable to related parties 104,432 — 836 36,297 24,207 — 186,886 (316,361 ) 36,297 Provisions 122,503 37,599 26,034 1,925 — — 148,548 — 336,609 Deferred income tax liability 25,576 36,793 1,518 39,020 — — — — 102,907 Total non-current 441,300 177,546 290,331 680,905 26,969 34,378 709,343 (341,476 ) 2,019,296 Total liabilities 2,284,458 295,603 433,808 766,521 27,962 284,194 988,995 (564,273 ) 4,517,268 Equity attributable to controlling interest in the Company 261,501 354,982 161,710 177,694 464 138,933 1,474,398 (1,302,076 ) 1,267,606 Non-controlling 55,892 24,162 57,943 59,231 — 238,799 2,885 (111,222 ) 327,690 Total liabilities and equity 2,601,851 674,747 653,461 1,003,446 28,426 661,926 2,466,278 (1,977,571 ) 6,112,564 Operating segment performance Segment Reporting Infrastructure For the year ended December 31, 2018 Engineering Energy Toll roads Transportation Water Real estate Parent Elimination Consolidated Revenue 1,960,863 560,506 733,148 586,329 3,270 630,130 367,600 (639,448 ) 4,202,398 Gross profit (loss) 62,095 120,360 107,092 122,567 592 287,959 29,251 (15,946 ) 713,970 Administrative expenses (136,066 ) (20,898 ) (35,626 ) (12,007 ) (296 ) (50,730 ) (95,653 ) 40,113 (311,163 ) Other income and expenses, net (13,508 ) 1,243 (11 ) 31 — (1,971 ) (52,298 ) 660 (65,854 ) Loss from the sale of investments (7 ) — — — — — — — (7 ) Operating (loss) profit (87,486 ) 100,705 71,455 110,591 296 235,258 (118,700 ) 24,827 336,946 Financial expenses (82,861 ) (15,631 ) (26,691 ) (20,604 ) 6 (11,859 ) (127,863 ) 24,735 (260,768 ) Financial income 15,122 4,593 2,560 35,147 554 3,556 32,363 (42,359 ) 51,536 Dividends — — — — — — 8,344 (8,344 ) — Share of profit or loss in associates and joint ventures 11,366 1,608 — — — (10 ) 84,138 (100,811 ) (3,709 ) (Loss) profit before income tax (143,859 ) 91,275 47,324 125,134 856 226,945 (121,718 ) (101,952 ) 124,005 Income tax 14,361 (26,275 ) (15,737 ) (38,017 ) (517 ) (69,166 ) 25,192 (834 ) (110,993 ) (Loss) profit from continuing operations (129,498 ) 65,000 31,587 87,117 339 157,779 (96,526 ) (102,786 ) 13,012 Profit (Loss) from discontinuing operations 44,096 — — — — — 3,608 (3,301 ) 44,403 (Loss) profit for the year (85,402 ) 65,000 31,587 87,117 339 157,779 (92,918 ) (106,087 ) 57,415 (Loss) profit from attributable to: Owners of the Company (86,857 ) 59,866 26,732 65,338 339 28,921 (85,716 ) (91,811 ) (83,188 ) Non-controlling 1,455 5,134 4,855 21,779 — 128,858 (7,202 ) (14,276 ) 140,603 (85,402 ) 65,000 31,587 87,117 339 157,779 (92,918 ) (106,087 ) 57,415 Operating segment performance Segment Reporting Infrastructure For the year ended December 31, 2019 Engineering Energy Toll roads Transportation Water Real estate Parent 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 (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 Energy Toll roads Transportation Water Real estate Parent 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 (43,573 ) (4,185 ) (79,576 ) 72 42 1,962 (57,648 ) 60 (182,846 ) Operating profit (loss) (30,563 ) 32,947 (55,302 ) 95,252 119 25,845 (92,057 ) 8,612 (15,147 ) Financial expenses (54,173 ) (17,525 ) (32,376 ) (9,316 ) (275 ) (12,647 ) (59,076 ) 28,445 (156,943 ) Financial income 8,792 2,239 4,326 1,586 897 4,584 47,506 (30,510 ) 39,420 Dividends — — — — — — 7,222 (7,222 ) — Share of profit or loss in associates and joint ventures — 2,391 — — — 34 (105,888 ) 104,233 770 (Loss) profit before income tax (75,944 ) 20,052 (83,352 ) 87,522 741 17,816 (202,293 ) 103,558 (131,900 ) Income tax (3,614 ) (7,500 ) (13,477 ) (26,681 ) (277 ) (2,854 ) (4,004 ) (37 ) (58,444 ) (Loss) profit for the year (79,558 ) 12,552 (96,829 ) 60,841 464 14,962 (206,297 ) 103,521 (190,344 ) (Loss) profit from attributable to: Owners of the Company (76,580 ) 9,176 (88,865 ) 45,631 464 1,391 (206,257 ) 97,169 (217,871 ) Non-controlling (2,978 ) 3,376 (7,964 ) 15,210 — 13,571 (40 ) 6,352 27,527 (79,558 ) 12,552 (96,829 ) 60,841 464 14,962 (206,297 ) 103,521 (190,344 ) |
Disclosure of Geographical Areas | Segments by geographical area 2018 2019 2020 Revenues: - Peru 3,348,824 3,496,799 2,517,928 - Chile 528,543 599,301 642,038 - Colombia 325,031 241,761 151,876 - Mexico — 2,187 4,202,398 4,337,861 3,314,029 Non-current - Peru 4,009,849 3,065,132 2,933,742 - Chile 142,819 235,803 245,727 - Colombia 157,839 123,758 107,486 4,310,507 3,424,693 3,286,955 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Financial Assets and Liabilities by Category | The classification of financial assets and liabilities by category is as follows: As of 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 non-financial 1,358,282 1,178,577 - Financial assets related to concession agreements 748,365 775,677 - Accounts receivable from related parties 611,381 647,409 3,668,729 3,501,831 Financial assets related to concession agreements are presented in the consolidated statement of financial position as the line items short-term trade accounts receivable and long-term trade accounts receivable. As of 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 92,870 72,726 - Bonds 924,042 932,759 - Trade and other accounts payable non-financial 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 — |
Summary of Credit Quality of Financial Assets | 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 Santander - Peru (A+) 114 54,478 Banco Scotiabank (A+) 64,106 52,448 Banco Interbank (A) 41,718 45,808 Banco de la Nacion (A) 56,114 22,882 Fondo de Inversion Alianza (AA+) 46 21,247 Santander Colombia (A-) 15,183 18,256 Banco Santander - Chile (AAA) 5,833 17,174 Banco Bogota (BBB-) 7,255 12,194 Banco de Credito e Inversiones - Chile (A-) 1,407 8,579 Bancolombia (BBB-) 115 8,516 Banco Scotiabank - Chile (AAA) 9,801 2,114 Credicorp Capital Colombia (AAA) 44,338 — JP Morgan (A+) 17,853 — Otros 6,676 5,653 943,714 896,832 |
Summary of Credit Quality of Customers | 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 |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Cash and Cash Equivalents | As of December 31, this account comprises: 2019 2020 Cash on hand 1,323 996 Remittances in-transit 5,664 2,340 Bank accounts 225,101 300,552 Escrow accounts (a) 507,982 471,339 Deposits in financial institutions (b) 210,631 124,941 950,701 900,168 |
Summary Of Detailed Information About Cash And Cash Equivalents Explanatory | 2019 2020 Reserve funds issued bonds 199,192 153,075 Real estate projects 31,794 35,273 Engineering and construction projects 192,069 233,955 Infrastructure projects 84,927 49,036 507,982 471,339 |
Summary of Disclosure of Savings Account | Financial entities 2019 2020 Cumbra Peru S.A. Credicorp Capital Colombia SA 7,588 151 Cumbra Peru S.A. Bancolombia S.A. 36,751 29,439 Cumbra Peru S.A. Banco de Bogota S.A. 72 37 Cumbra Peru S.A. Alianza Fiduciaria S.A. 46 49 44,457 29,676 |
Summary of Time Deposits from Subsidiaries | ii) Time deposits have maturities less than 90 days and may be renewed upon maturity. These deposits earn interest that fluctuates between 0.15% and 2.70%. Financial entities Interest 2019 2020 Tren Urbano de Lima S.A. Banco de Credito del Peru S.A. 2.70 % 32,300 65,000 Tren Urbano de Lima S.A. BBVA Banco Continental S.A 69,531 - Norvial S.A. Banco de Credito del Peru S.A. 0.25 % 4,763 7,429 AENZA S.A.A. Banco de Credito del Peru S.A. 2.40 % 5,312 6,500 Concesionaria la Chira S.A. BBVA Banco Continental S.A 1.65 % - 6,250 Survial S.A. Banco de Credito del Peru S.A. 0.15 % 15,400 4,800 Concesion Canchaque S.A.C. Banco de Credito del Peru S.A. 0.25 % 662 4,381 UNNA ENERGIA S.A. Banco de Credito del Peru S.A. 0.50 % - 905 Cumbra Peru S.A. Banco de Credito del Peru S.A. 28,213 - Cumbra Ingenieria S.A. Banco de Credito del Peru S.A. 9,993 - 166,174 95,265 |
Summary of Reconcile to the Amount of Cash Shown in the Statement of Cash Flow | The above figures are reconciled with the amount of cash shown in the consolidated statement of cash flows at the end of the year as follows: 2018 2019 2020 Cash and cash equivalent on consolidated statement of financial position 807,214 950,701 900,168 Bank overdrafts (119 ) — — Balances per consolidated statement of cash flows 807,095 950,701 900,168 |
Trade Accounts Receivables, N_2
Trade Accounts Receivables, Net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Trade Accounts Receivables | As of December 31, this account comprises: 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 |
Schedule of Current and Non-Current Unbilled Receivables | b) The unbilled receivables by subsidiaries are documents related to the estimates of the degree of progress for services rendered that were not billed, as follows: 2019 2020 Cumbra Peru S.A. 384,660 315,878 Concar S.A.C. 10,737 6,298 Cumbra Ingenieria S.A. 24,787 25,823 UNNA ENERGIA S.A. 1,657 1,512 Adexus S.A. 78,133 63,853 499,974 413,364 Below are the unbilled receivables by the subsidiaries grouped by the main projects: 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 S.A. 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 to the following: 2019 2020 Tren Urbano de Lima 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 |
Summary of Aging of Trade Accounts Receivable | a) The detail of the age of the commercial receivables net of impairment corresponds as follows: 2019 2020 Current 817,233 718,220 0 to 30 days past due 45,922 5,737 31 to 90 days past due 27,364 6,801 91 to 120 days past due 1,319 2,279 121 to 360 days past due 10,502 4,185 Over 360 days past due 56,811 16,471 959,151 753,693 |
Summary Of Reconcilaition Of Impairment Loss In Trade Accounts Receivable Explanatory | d) The movement of impairment in trade accounts receivable is as follows: 2018 2019 2020 Balance at January, 1 (17,227 ) (7,633 ) (8,422 ) Impairment, net (Note 26.ii) (3,065 ) (955 ) (19,772 ) Impairment, net (Note 28.b) — — (33,874 ) Write-off 12,873 12 5,653 Exchange difference (214 ) 37 (212 ) Translation adjustments — 117 (3 ) Balance at December, 31 (7,633 ) (8,422 ) (56,630 ) |
Summary Of Unbilled Receivables At Fair Values And Carrying Amount Explanatory | The fair value and carrying amount for this concept are detailed below: Carrying amount Fair value 2019 2020 2019 2020 Tren Urbano de Lima S.A. 579,765 590,092 696,665 783,643 579,765 590,092 696,665 783,643 |
Work in Progress, Net (Tables)
Work in Progress, Net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Work in Progress | As of December 31, this account comprises: 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 — |
Summary of Work in Progress Grouped by Main Projects | Below are the work in progress grouped by the main projects: 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 |
Transactions with Related Par_2
Transactions with Related Parties and Joint Operators (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Disclosure of Transactions Between Related Parties | Major transactions between the Company and its related parties are summarized as follows: 2018 2019 2020 Revenue from sales of goods and services: - Joint operations 56,560 44,130 15,903 - Associates 1,704 108 5 58,264 44,238 15,908 Purchase of goods and services: - Joint operations 601 1,765 — - Associates 2,130 — 1,225 2,731 1,765 1,225 |
Summary of Sale Purchase of Goods Services | As of December 31, As of December 31, 2019 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 Ferrovias S.A. — 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 Gasoducto Sur Peruano S.A. (GSP) 572,624 — 620,071 — Ferrovias S.A. — — — 12,862 Ferrovias Participaciones S.A. — 22,583 — 23,435 Other minors 2,099 — — — Non-current 574,723 22,583 620,071 36,297 |
Other Accounts Receivable (Tabl
Other Accounts Receivable (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Other Accounting Recivables | As of December 31, this account comprises: 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 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 - Cumbra Peru 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 ) (102,050 ) (27,415 ) (98,626 ) (3,283 ) (3,424 ) 727,906 761,754 454,474 433,531 273,432 328,223 |
Schedule of Advances to Suppliers | (a) Advance to suppliers - corresponds mainly to the following: Current 2019 2020 Alstom Transporte — Linea 1 2,597 5,786 Advances — Refineria Talara 48,303 6,951 Advances — joint operations vendors 49,181 36,803 Others 35,400 26,660 135,481 76,200 |
Schedule of Income Tax Payments | (b) Income tax on-account Total Current Non-current 2019 2020 2019 2020 2019 2020 Cumbra Peru S.A. 45,628 35,599 45,628 35,599 — — Cumbra Ingenieria S.A. 7,203 3,532 7,203 3,532 — — UNNA ENERGIA S.A. S.A. 2,400 1,883 2,400 1,883 — — Concar S.A. 3,709 3,340 3,709 3,340 — — Viva Negocio Inmobiliario S.A. 3,485 1,351 3,485 1,351 — — AENZA 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 |
Schedule of Tax Credit Related to VAT on Subsidiaries | (c) Tax credit related to VAT on the following subsidiaries: Total Current Non-current 2019 2020 2019 2020 2019 2020 Cumbra Peru S.A. 12,963 12,868 12,963 12,868 — — Tren Urbano de Lima S.A. 11,970 3,335 11,970 3,335 — — AENZA 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 — — Cumbra Ingenieria S.A. 1,513 13,754 1,513 13,754 — — Viva Negocio Inmobiliario S.A. 6,874 8,111 513 953 6,361 7,158 UNNA ENERGIA S.A. 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 |
Schedule of guarantee deposits | The amounts retained will be recovered once the work is completed. 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 3,299 189,210 217,441 104,965 156,123 84,245 61,318 |
Summary of Third party claims | (e) Third-party claims Total Current Non-current 2019 2020 2019 2020 2019 2020 Tecnicas Reunidas — Talara (e.1) — 53,635 — — — 53,635 Municipalidad Metropolitana de 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 |
Summary Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory | The movement in impairment of other receivables during 2018, 2019 and 2020 was as follows: Total Guaranties Retention Claims to third parties 2018 2019 2020 2018 2019 2020 2018 2019 2020 Balance at January, 1 (1,398 ) (25,567 ) (30,698 ) — — 165 (1,398 ) (25,567 ) (30,863 ) Impairment of Concar S.A.C. (Note 26.ii) (665 ) (1,457 ) (11,431 ) — — — (665 ) (1,457 ) (11,431 ) Impairment of Sucursal Colombia (Note 26.ii) — (3,283 ) — — — — — (3,283 ) — Impairment of Cumbra Peru S.A. (Note 26.ii) (24,169 ) (937 ) (828 ) — — — (24,169 ) (937 ) (828 ) Impairment of Viva Negocio Inmobiliario (19,418 ) — — — — — (19,418 ) — — Impairment of other minors (Note 26.ii) — (27 ) (59 ) — — — — (27 ) (59 ) 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) — — (55,847 ) — — — — — (49,625 ) Impairment of other minors (Note 28.b) — — (513 ) — — — — — (513 ) Reversal of impairment (Note 28.b) — 32 — — — — — 32 — Write-off 20,083 — 12,205 — — 12,530 20,083 — (325 ) Exchange difference — 387 (2,188 ) — — — — 387 (2,188 ) Translations adjustments — 154 (180 ) — 165 (184 ) — (11 ) 4 Balance at December, 31 (25,567 ) (30,698 ) (102,050 ) — 165 — (25,567 ) (30,863 ) (95,828 ) |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Schedule of Inventories | As of December 31, this account comprises: 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 |
Schedule of Inventories of Land | As of December 31, 2020, the land impairment provision equals S/1.2 million (S/5.2 million in 2019): 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 (a) Plot of land of 107 hectares that corresponds to Inmobiliaria Almonte S.A.C. and a land 210 hectares that corresponds to Inmobiliaria Almonte 2 S.A.C., both lands located in the district of Lurin, province of Lima, destined for the purposes of industrial development and public housing. (b) Land located on David Samanez Ocampo street N° 140 in San Isidro district where a 15-story (c) Land located in Chimbote of 11.5 hectares for the development of a real estate social housing project. (d) Land located in Paul Harris St. N°332 and N°336 in Barranco district, for the development of a residential building project. (e) Land located in the district of Veintiséis de Octubre, province of Piura with an area of 65,096 m2 for the development of Los Parques de Piura IV project. |
Schedule of Inventories of Work In Progress | As of December 31, real state work in progress comprises the following projects: 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 |
Schedule of Inventories of Finished Properties | As of December 31, the balance of finished properties consists of the following investment properties: 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 |
Investments in Associates and_2
Investments in Associates and Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Schedule of Amounts Recognised in Balance Sheet | As of December 31, this account comprises: 2019 2020 Associates 28,875 27,246 Joint ventures 8,160 8,270 37,035 35,516 |
Schedule of Amounts Recognised in Income Statement | The amounts recognized in the income statement as the value of the equity interest are as follows: 2019 2020 Associates (220,993 ) (1,635 ) Joint ventures 2,219 2,405 (218,774 ) 770 |
Summary of Detailed Information about Associates | Set out in the table below are the associates of the Corporation as of December 31, 2019 and 2020 the associates listed below have share capital solely consisting of common shares, which are held directly by the Corporation. None of the associates are listed companies; therefore, there is no quoted market price available for their shares. Carrying amount Interest in capital At December 31, Entity Class 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 Maje S.A.C. Common 9.59 9.59 2,306 2,283 Otros Common 327 333 28,875 27,246 |
Schedule of Movement of Investments in Associates | The movement of the investments in associates is as follows: 2018 2019 2020 Opening balance 250,053 250,282 28,875 Contributions received 5,616 — — Equity interest in results (5,308) (220,993) (1,635) Decrease in capital (30) — — Impairment of investment — (374) (38) Conversion adjustment (49) (40) 44 Final balance 250,282 28,875 27,246 |
Summary of Financial Information for Associates | The following table shows the financial information of the principal associates: Summarized financial information for associates – Concesionaria 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 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 ) |
Summary of Detailed Information about Joint Ventures | Set out below are the joint ventures of the Corporation as of December 31: 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 Common 50.00 50.00 29 34 Others — — 125 156 8,160 8,270 |
Schedule of Movement of Investments in Joint Ventures | The movement of the investments in joint ventures was as follows: 2018 2019 2020 Opening balance 18,618 7,483 8,160 Equity interest in results 1,599 2,219 2,405 Disposal of Investment (10,112 ) — — Dividends received (1,823 ) (1,517 ) (2,318 ) Conversion adjustment 79 (14 ) 23 Impairment of investment (878 ) (11 ) — Final balance 7,483 8,160 8,270 |
Summary of Financial Information for Joint Ventures | The following table shows the financial information of the principal joint ventures: Summarized financial information for joint ventures 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 37,620 35,715 Total non-current (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 6,500 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 |
Property, Plant and Equipment_2
Property, Plant and Equipment, Net and Right-of-Use Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Movement in Property, Plant and Equipment Accounts and Its Related Accumulated Depreciation | The movement in property, plant and equipment accounts and its related accumulated depreciation for the year ended December 31, 2018, 2019 and 2020 is as follows: Land Buildings Machinery Vehicles Furniture Other Replacement Work in Total At January 1, 2018 Cost 23,951 161,057 995,155 380,503 63,727 195,142 22,938 28,713 1,871,186 Accumulated depreciation and impairment (273 ) (48,498 ) (562,333 ) (198,720 ) (48,832 ) (146,433 ) (10 ) (352 ) (1,005,451 ) Net carrying amount 23,678 112,559 432,822 181,783 14,895 48,709 22,928 28,361 865,735 Net initial carrying amount 23,678 112,559 432,822 181,783 14,895 48,709 22,928 28,361 865,735 Additions (i) — 13,216 11,318 9,377 2,145 14,122 5,577 27,431 83,186 Desconsolidation, net (3,183 ) (24,295 ) (109,425 ) (110,540 ) (547 ) (10,421 ) — (715 ) (259,126 ) Reclassifications — 17,129 16,626 (1,415 ) (1,430 ) 75 (10,577 ) (20,408 ) — Deduction for sale of assets — (3,527 ) (55,567 ) (32,399 ) (2,164 ) (2,200 ) (124 ) — (95,981 ) Disposals, net — (9,723 ) (2,607 ) (1,418 ) (292 ) (461 ) — (118 ) (14,619 ) Depreciation charge — (14,257 ) (67,430 ) (19,391 ) (3,954 ) (18,068 ) — — (123,100 ) Impairment loss — — (5,664 ) — — — — — (5,664 ) Depreciation for sale deductions (ii) — 1,189 37,452 14,868 1,813 1,702 — — 57,024 Translations adjustments (286 ) 3,383 (3,310 ) (788 ) (134 ) (2,415 ) — (321 ) (3,871 ) Net final carrying amount 20,209 95,674 254,215 40,077 10,332 31,043 17,804 34,230 503,584 At December 31, 2018 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 Land Buildings Machinery Vehicles Furniture Other Replacement and in-transit Work in Total At January 1, 2019 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 At December 31, 2019 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 Land Buildings Machinery Vehicles Furniture Other Replacement and in-transit Work in Total At January 1, 2020 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 At December 31, 2020 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 (i) In 2018, 2019 and 2020, additions to cost correspond to acquisitions of fixed assets made under financial leases or direct purchases. (ii) In 2020 the sale of fixed assets which is shown in the statement of income under the caption “other income and expenses, net” (Note 28) amounted to S/9.1 million (S/12.7 million in 2019 and S/31.9 million in 2018), generating a gain of S/2.3 million (gain of S/6.1 million in 2019 and loss of S/7.1 million in 2018). (iii) During 2019, a property owned by Morelco S.A.S. (subsidiary of Cumbra Peru S.A.) was transferred to investment properties to the leased to a third party. During 2020, corresponds to transfers received for software, and expenses related to UNNA ENERGIA S.A.’s well development. |
Summary of Depreciation of Property, Plant and Equipment and Investment Property | Depreciation of property, plant and equipment and investment property is distributed in the income statement as follows: 2018 2019 2020 Cost of services and goods (Note 26) 91,249 108,066 90,146 Administrative expenses (Note 26) 6,600 4,252 8,358 (+) Depreciation discontinued operations 27,570 — — Total depreciation 125,419 112,318 98,504 (-) Depreciation related to investment property (2,319) (2,356 ) (2,413 ) (-) Depreciation related to right-of-use assets (Note 16.2) — (29,396 ) (17,531 ) Total depreciation of property, plant and equipment 123,100 80,566 78,560 |
Summary of Net Carrying Amount of Machinery and Equipment, Vehicles and Furniture and Fixtures Acquired Under Finance Lease Contracts | 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, 2018 2019 2020 Cost of acquisition 86,881 68,553 64,623 Accumulated depreciation (38,026 ) (46,773 ) (52,165 ) Net carrying amount 48,855 21,780 12,458 |
Summary of Corporation Recognized Assets And Liabilities For Right-Of-Use | As of December 31, 2019 and 2020, the Corporation recognized assets and liabilities for right-of-use, Buildings Machinery Vehicles Total At January 1, 2019 Additions 80,279 18,597 20,830 119,706 Depreciation (13,568 ) (6,899 ) (8,929 ) (29,396 ) Translations adjustments 271 — — 271 Net final carrying amount 66,982 11,698 11,901 90,581 At December 31, 2019 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 At January 1, 2020 66,982 11,698 11,901 90,581 Additions 6,681 876 4,518 12,075 Depreciation (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 At December 31, 2020 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 |
Summary of Distribution Expense For Depreciation Of Right-Of-Use Assets | The expense for depreciation of right-of-use 2019 2020 Cost of services and goods 26,449 15,938 Administrative expenses 2,947 1,593 29,396 17,531 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Movement of Intangible Assets and That of Their Related Accumulated Amortization | The movement in intangible assets and the related accumulated amortization as of December 31, 2018, 2019 and 2020 is as follows: Goodwill Trade- Concession Contractual Software and Costs of Land Other Total At January 1, 2018 Cost 193,862 110,486 879,289 100,640 66,301 400,429 13,288 51,983 1,816,278 Accumulated amortization and impairment (77,058 ) (45,386 ) (351,062 ) (66,375 ) (48,677 ) (283,696 ) — (3,954 ) (876,208 ) Net cost 116,804 65,100 528,227 34,265 17,624 116,733 13,288 48,029 940,070 Net initial cost 116,804 65,100 528,227 34,265 17,624 116,733 13,288 48,029 940,070 Additions — — 23,803 — 3,267 68,544 — 5,067 100,681 Capitalization of interest — — 3,361 — — — — — 3,361 Desconsolidation, net (20,086 ) — (20,716 ) — (10,153 ) — — (219 ) (51,174 ) Transfers from assets under construction — — — — 199 — — (199 ) — Derecognition - cost — — (16 ) — (1,941 ) (4,126 ) — — (6,083 ) Amortization — — (50,776 ) (7,996 ) (5,834 ) (41,930 ) — (5,536 ) (112,072 ) Translations adjustments (3,430 ) (4,301 ) 199 (303 ) 830 — — 272 (6,733 ) Net final cost 93,288 60,799 484,082 25,966 3,992 139,221 13,288 47,414 868,050 At December 31, 2018 Cost 170,346 106,185 885,915 100,337 22,565 464,847 13,288 55,131 1,818,614 Accumulated amortization and impairment (77,058 ) (45,386 ) (401,833 ) (74,371 ) (18,573 ) (325,626 ) — (7,717 ) (950,564 ) Net cost 93,288 60,799 484,082 25,966 3,992 139,221 13,288 47,414 868,050 Goodwill Trade- Concession Contractual Software and Costs of Land Other Total At January 1, 2019 Cost 170,346 106,185 885,915 100,337 22,565 464,847 13,288 55,131 1,818,614 Accumulated amortization and impairment (77,058 ) (45,386 ) (401,833 ) (74,371 ) (18,573 ) (325,626 ) — (7,717 ) (950,564 ) Net cost 93,288 60,799 484,082 25,966 3,992 139,221 13,288 47,414 868,050 Net initial cost 93,288 60,799 484,082 25,966 3,992 139,221 13,288 47,414 868,050 Additions — — 26,645 — 5,016 102,022 — 5,212 138,895 Capitalization of interest expenses — — 2,725 — — — — 802 3,527 Transfers from assets under construction — — — — 672 — — (672 ) — Derecognition - net (930 ) (8,358 ) — (11,665 ) (2,015 ) — — (2,996 ) (25,964 ) Amortization — — (50,102 ) (3,682 ) (7,529 ) (43,552 ) — (2,634 ) (107,499 ) Impairment loss (33,089 ) — (3,213 ) — — — (2,468 ) — (38,770 ) Impairment reversal — 20,676 — — — — — — 20,676 Translations adjustments (1,902 ) (2,422 ) (16,187 ) (10,118 ) 21,251 (3,717 ) — 8,407 (4,688 ) Net final cost 57,367 70,695 443,950 501 21,387 193,974 10,820 55,533 854,227 At December 31, 2019 — — — — — — — — — 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 Goodwill Trade- Concession Contractual Software and Costs of Land Other Total At January 1, 2020 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 At December 31, 2020 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 |
Summary of Goodwill Allocated to Cash-Generating Units (CGU) | As of December 31, the goodwill of the cash-generating units (CGUs) is distributed as follows: 2018 2019 2020 Engineering and construction 71,621 36,632 38,211 Electromechanical 20,737 20,735 20,735 IT equipment and services 930 — 0 93,288 57,367 58,946 |
Summary of Major Assumptions Used by the Group in Determining the Fair Value Less Cost of Disposal | The main assumptions used by the Corporation to determine fair value less disposal costs and value in use are as follows: Engineering Electro- % % 2018 Gross margin 12.67 % 7.63 % Terminal growth rate 3.00 % 2.00 % Discount rate 12.55 % 11.44 % 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 % The main assumptions used by the Corporation to determine fair value less cost of sales are as follows: Engineering and construction Morelco Vial y Vives- DSD % % 2018 Average revenue growth rate 12.25 % 19.58 % Terminal growth rate 3.00 % 3.00 % Discount rate 12.55 % 14.00 % 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 % |
Summary of Amortization of Intangibles | Amortization of intangibles is broken down in the consolidated income statement as follows: 2018 2019 2020 Cost of sales and services (Note 26) 101,378 101,810 94,483 Administrative expenses (Note 26) 7,293 5,689 4,138 (+) Amortization discontinued operations 3,401 — — 112,072 107,499 98,621 |
Disclosure Of Detailed Information About Concessions | As of December 31, mainly include intangibles of Norvial S.A.: 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 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Statement [line items] | |
Summary of Other Financial Liabilities | As of December 31, this item includes: 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 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 |
Summary of Bank Loan | Current Non-current Interest Date of At December, 31 At December, 31 rate maturity 2019 2020 2019 2020 Cumbra Peru S.A. (i) 2.00% / 11.00% 2022 170,798 222,924 26,401 19,977 UNNA ENERGIA S.A. (ii) 3.06% / 6.04% 2027 30,367 24,950 102,895 99,474 AENZA 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 Negocio Inmobiliario S.A. 6.84% / 11.00% 2022 110,343 90,197 — 3,318 445,289 409,272 186,574 162,387 |
Summary of Finance Lease Obligations | 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 Negocio Inmobiliario S.A. 7.79% / 9.04% 2023 4,297 4,617 7,399 4,357 Cumbra Peru S.A. 4.80% / 7.67% 2023 3,395 2,021 5,678 2,823 UNNA ENERGIA 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 |
Summary of Minimum Payment by Maturity and Present Value of Finance Lease Obligations | The minimum payments to be made according to their maturity and the present value of the leasing obligations are as follows: At December 31, 2019 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 |
Summary of Present value of Finance Lease Obligations | At December 31, 2019 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 |
Summary of Lease Liability for Right-of-use Asset | c) Lease liability for right-of-use Current Non-current Interest Date of At December, 31 At December, 31 rate maturity 2019 2020 2019 2020 UNNA ENERGIA S.A. 6.59% / 7.80% 2023 10,584 6,765 10,261 2,926 AENZA 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 Cumbra Peru S.A. 7.65% 2022 1,592 852 541 426 Concar S.A.C. 5.55% 2024 1,171 2,047 806 1,925 Cumbra Ingenieria S.A. 7.40% 2023 — 302 — 381 Tren Urbano de Lima S.A. 10.00% 2023 — 42 — 59 Other minors 6.31% / 10.00% 2020 11 — — — 23,980 19,950 68,890 52,776 |
Summary of Minimum Payment by Maturity and the Present Value of the Lease Liability for Right-of-use Asset Obligations | The minimum payments to be made according to their maturity and the present value of the lease liability for right-of-use At December 31, 2019 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 92,870 72,726 |
Summary of Present Value of Lease Liability for Right-of-use Asset | The present value of the lease liability for right-of-use At December 31, 2019 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 |
Obligations under finance leases [member] | |
Statement [line items] | |
Summary of Carrying Amount and Fair Value of Borrowings | The book value and fair value of financial liabilities are as follows: 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 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 |
Bonds (Tables)
Bonds (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Statement [line items] | |
Summary of Bonds Issued | As of December 31, this item includes: Total Current Non-current 2019 2020 2019 2020 2019 2020 Tren Urbano de Lima 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 Cumbra Peru S.A. (c) — 27,457 — 4,546 — 22,911 924,042 932,759 44,737 58,446 879,305 874,313 |
GyM Ferrovias S.A. [member] | |
Statement [line items] | |
Bonds | As of December 31, 2018, 2019 and 2020, the movement of this account is as follows: 2018 2019 2020 Balance at January, 1 603,657 611,660 618,497 Amortization (10,178 ) (11,330 ) (11,582 ) Accrued interest 48,130 48,253 47,615 Interest paid (29,949 ) (30,086 ) (30,076 ) Balance at December, 31 611,660 618,497 624,454 |
Norvial S.A. [member] | |
Statement [line items] | |
Bonds | As of December 31, 2018, 2019, and 2020, the movement in this account is as follows: 2018 2019 2020 Balance at January, 1 343,910 325,382 305,545 Amortization (18,736 ) (20,005 ) (24,820 ) Accrued interest 24,170 23,482 24,619 Capitalized interest 3,361 2,725 — Interest paid (27,323 ) (26,039 ) (24,496 ) Balance at December, 31 325,382 305,545 280,848 |
Trade Accounts Payable (Tables)
Trade Accounts Payable (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Trade Accounts Payable | As of December 31, this item includes: 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 |
Disclosure Of Detailed Information About Invoices Payable | (a) Invoices payable are obligations accredited with formal documents. The following are the invoices payable according to main projects: 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 S.A. 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 |
Disclosure Of Detailed Information About Provision Of Contract Costs | b) Provision of contract costs are obligations not accredited with formal documents. Below are the services received not billed according to main projects: 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 S.A. 68,140 106,186 Engineering and Construction Works - Morelco S.A.S. 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 |
Other Accounts Payable (Tables)
Other Accounts Payable (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Other Accounts Payable | As of December 31, this item includes: 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 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 54,470 58,420 33,356 41,974 21,114 965,964 901,638 669,674 718,406 296,290 183,232 (a) Advances received from customers relate mainly to construction projects, and are discounted from invoicing, in accordance with the terms of the contracts. (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 Cumbra Peru S.A.; as a result of the termination of GSP operations. |
Disclosure of detailed information about advances explanatory | (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 |
Other Provisions (Tables)
Other Provisions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Provisions | As of December 31, this item includes: Total Current Non-current 2019 2020 2019 2020 2019 2020 Legal claims 272,274 375,596 101,266 80,456 171,008 295,140 Tax claims 6,045 5,630 2,369 1,954 3,676 3,676 Provision for well closure 50,116 52,949 9,848 10,837 40,268 42,112 328,435 429,366 113,483 92,757 214,952 336,609 |
Summary Gross Movement of Other Provisions | The gross movement of other provisions is as follows: Legal Contingent Provision Total At January 1, 2018 23,364 6,156 16,804 46,324 Additions 75,369 — 3,578 78,947 Reversals of provisions (4,875 ) (1,343 ) — (6,218 ) Desconsolidation of subsidiaries (2,340 ) — — (2,340 ) Payments (6,615 ) — — (6,615 ) Translation adjustments (175 ) (315 ) — (490 ) At December 31, 2018 84,728 4,498 20,382 109,608 At January 1, 2019 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 ) At December 31, 2019 278,319 — 50,116 328,435 At January 1, 2020 278,319 — 50,116 328,435 Additions 128,169 — 4,632 132,801 Reversals of provisions (33,264 ) — — (33,264 ) Reclasification 1,079 — — 1,079 Payments (7,252 ) — (1,799 ) (9,051 ) Translation adjustments 9,366 — — 9,366 At December 31, 2020 376,417 — 52,949 429,366 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Company's Corporate Structure | As of December 31, 2020, the Company’s shareholding structure is as follows: Percentage of individual interest in outstanding capital Number of Total 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 % |
Deferred Income Tax (Tables)
Deferred Income Tax (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Deferred Income Tax | Deferred income tax is classified by its estimated reversal term as follows: At December 31, 2019 2020 Deferred income tax asset: Reversal expected in the following twelve months 37,927 44,780 Reversal expected after twelve months 233,792 217,385 Total deferred tax asset 271,719 262,165 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 158,985 159,258 |
Summary of Movement of Deferred Income Tax | The gross movement of the deferred income tax item is as follows: At December 31, 2018 2019 2020 Opening balance 364,225 365,263 158,985 Debit (credit) to income statement (Note 29) 28,462 (188,509 ) (5,310 ) Adjustment for changes in rates of income tax (1,524 ) (622 ) — Sales of a Subsidiary (24,135 ) — — IFRIC 23 adoption — (986 ) — Debit (credit) to equity (95 ) (3 ) — Other movements (1,670 ) (16,158 ) 5,583 Final balance 365,263 158,985 159,258 |
Summary of Movements of Deferred Tax Assets and Liabilities | The movement in deferred tax assets and liabilities in the year, without considering the offsetting of balances, is as follows: Deferred income tax liabilities Difference in Deferred Work in Tax Borrowing PPA Others Total At January 1, 2018 165,851 — 2,530 32,189 19,945 15,338 9,357 245,210 (Debit) credit to P&L (76,246 ) 13,574 2,926 689 (4,229 ) (12,479 ) 9,263 (66,502 ) Sale of subsidiary (8,052 ) — — — — (4,421 ) 2,125 (10,348 ) At December 31, 2018 81,553 13,574 5,456 32,878 15,716 (1,562 ) 20,745 168,360 (Debit) credit to P&L 9,937 10,571 33,403 3,312 (780 ) 11,385 18,821 86,649 At December 31, 2019 91,490 24,145 38,859 36,190 14,936 9,823 39,566 255,009 (Debit) 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 ) At December 31, 2020 87,988 15,906 17,203 39,026 15,108 8,917 23,396 207,544 Deferred income tax assets Provisions Accelerated Tax Work in Accrual Impairment NIIF 9 Tax Others Total At January 1, 2018 52,439 86,651 144,089 39,487 13,440 224,780 — 20,413 28,136 609,435 Debit (credit) to P&L (1,336 ) (82,065 ) 32,952 (5,482 ) 2,529 35,289 — (2,365 ) (19,086 ) (39,564 ) Debit (credit) to — — — — — — — — (95 ) (95 ) Sale of subsidiary (8,531 ) (3,665 ) 1,248 — (6,187 ) (6,302 ) — — (11,046 ) (34,483 ) Others — — — — — — — — (1,670 ) (1,670 ) At December 31, 2018 42,572 921 178,289 34,005 9,782 253,767 — 18,048 (3,761 ) 533,623 Debit (credit) to 804 7,512 14,343 11,715 1,842 (205,265 ) 46,804 (4,526 ) 24,289 (102,482 ) Debit (credit) to — — — — — — — — (3 ) (3 ) IFRIC 23 adoption — — (986 ) — — — — — — (986 ) Others — — — — — — — — (16,158 ) (16,158 ) At December 31, 2019 43,376 8,433 191,646 45,720 11,624 48,502 46,804 13,522 4,367 413,994 Debit (credit) to (38,130 ) 374 (8,767 ) (12,298 ) 1,416 3,257 (10,874 ) (4,518 ) 19,160 (50,380 ) Reclassification 24,340 (1,154 ) 3,616 (28,630 ) — (507 ) 10,067 4,989 (15,116 ) (2,395 ) Others — — — — — — — — 5,583 5,583 At December 31, 2020 29,586 7,653 186,495 4,792 13,040 51,252 45,997 13,993 13,994 366,802 |
Summary Of Tax Loss Carry forward | Tax Tax loss Application Statute of loss method 2020 2021 Forward limitations Cumbra Peru S.A. 354,381 B 25,722 19,893 308,766 — Adexus 149,303 N/A — — 149,303 — VyV-DSD S.A. 103,886 N/A 18,870 22,395 62,621 — Transportadora de Gas Natural Comprimido Andino S.A.C. 15,989 B — — 15,989 — Viva Negocio Inmobiliario S.A. 9,454 A — 9,454 — 2022 GyM Chile SPA 4,236 N/A — — 4,236 — Cumbra Ingenieria S.A. 3,052 A 3,052 — — 2025 UNNA ENERGIA 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. 1,014 A 1,014 — — 2022 Qualys S.A. 162 A 162 — — 2025 646,602 50,346 51,742 544,514 |
Workers' Profit Sharing (Tables
Workers' Profit Sharing (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Worker's Profit Sharing | The distribution of the workers’ profit sharing in the income statement for the years ended December 31 is shown below: 2018 2019 2020 Cost of sales of goods and services 5,274 4,661 2,147 Administrative expenses 2,588 1,679 23 7,862 6,340 2,170 |
Costs And Expenses by Nature (T
Costs And Expenses by Nature (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Information about Expense by Nature | For the years ended December 31, the detail of this item is as follows: Cost of goods Administrative Total 2018 Services provided by third-parties 1,123,461 105,217 1,228,678 Salaries, wages and fringe benefits (i) 901,029 127,001 1,028,030 Purchase of goods 862,940 — 862,940 Other management charges 375,308 43,533 418,841 Depreciation (Note 16.1) 91,249 6,600 97,849 Amortization (Note 17.e) 101,378 7,293 108,671 Impairment of accounts receivable (ii) 45,658 19,418 65,076 Taxes 8,930 2,101 11,031 Impairment of property, plant and equipment 5,468 — 5,468 Inventory recovery (26,993 ) — (26,993 ) 3,488,428 311,163 3,799,591 Cost of goods Administrative Total 2019 Services provided by third-parties 1,500,897 65,154 1,566,051 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) 101,810 5,689 107,499 Impairment of accounts receivable (ii) 8,183 — 8,183 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 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 |
Summary of Salaries, Wages and Fringe Benefits | (i) For the years ended on December 31, salaries, wages and fringe benefits comprise the following: 2018 2019 2020 Salaries 718,453 853,579 814,874 Statutory gratification 87,984 93,262 91,189 Social contributions 74,184 61,533 57,763 Employee’s severance indemnities 50,852 49,944 60,090 Vacations 44,482 42,025 42,135 Workers’ profit sharing (Note 25) 7,862 6,340 2,170 Others 44,213 76,927 29,037 1,028,030 1,183,610 1,097,258 |
Summary of impairment of accounts receivable | (ii) For the years ended December 31, the impairment of accounts receivable includes the following: 2018 2019 2020 Trade accounts receivables (Note 10) 3,065 955 19,772 Other accounts receivable (Note 13.i) 44,252 5,704 12,318 Accounts receivable from related parties 17,759 1,524 129 65,076 8,183 32,219 |
Financial Income and Expenses (
Financial Income and Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Financial Income and Expenses | For the years ended on December 31, these items include the following: 2018 2019 2020 Financial income: Interest on loans to third parties 27,060 36,876 863 Profit for present value of financial asset or financial liability 9,786 30,408 32,734 Interest on short-term bank deposits 3,811 4,770 2,457 Commissions and collaterals 1,448 535 601 Others 9,431 1,757 2,765 51,536 74,346 39,420 Financial expenses: Interest expense: - Bank loans 100,256 93,019 69,420 - Bonds 27,388 26,113 26,771 - Loans from third parties 32,431 16,275 12,612 - Right-of-use — 5,978 4,600 - Financial lease 3,768 2,218 3,139 Commissions and collaterals 31,668 24,521 14,077 Loss for present value of financial asset or financial liability 25,796 41,131 4,552 Exchange difference loss, net 23,704 32,840 5,802 Derivative financial instruments 268 92 64 Other financial expenses 23,656 18,176 20,793 Less capitalized interest (8,167 ) (7,229 ) (4,887 ) 260,768 253,134 156,943 |
Other Income and Expenses, Net
Other Income and Expenses, Net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Other Income and Expenses, Net | For the years ended December 31, these items include the following: 2018 2019 2020 Other income: Sale of assets 26,007 12,748 9,118 Sale of investments 13,475 — — 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 — Present value of the liability from put option 6,122 — — Others 12,815 13,384 4,267 58,419 179,785 35,599 Other expenditures: Asset impairment (b) — 339,774 103,074 Civil repair to the Peruvian Government 73,500 69,150 64,571 Net cost of fixed assets disposal 36,931 23,697 8,682 Legal and tax litigation — 49,754 32,186 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 13,842 26,729 708 124,273 519,279 218,445 (65,854 ) (339,494 ) (182,846 ) (a) Corresponds to the refinancing agreement linked to the contract signed between Tren Urbano de Lima S.A. and Mitzuho Bank Ltd. where the Company acted as an endorsement of the transaction. Under the contract, a bond letter was issued with Mitzuho Bank Ltd. for it to be covered with a financial derivative required for the closing of the CPAOs purchase operation of the Expansion Project. The contract further indicated that in the event that the bank refinanced the debt obtained for the purchase of the CPAOS, the Company received 70% of the gains obtained. (b) As of December 31, 2020, corresponds a impairment of accounts receivable generated by the subsidiary Concessionaire Via Expresa Sur S.A. for S/55.8 million (Note 13(i)), as a consequence of the new estimates of the Company regarding the recovery of the investment it maintains in the project, this project concession contract has been suspended by mutual agreement with the Municipality of Lima since June; impairment accounted in CAM Holding S.P.A. for S/12.5 million for claims accepted against the guarantee account (Note 13), and impairment of accounts receivable generated by the subsidiary Concar S.A.C. for S/33.8 million to the Regional Government of Cusco (Note 10); other minor for S/0.5 million from other accounts receivable (Note 13) and S/0.1 million from trade accounts receivable (Note 10) (as of December 31, 2019 corresponds to a provision for impairment of accounts receivable from GSP for S/276 million; the subsidiary Promotora Larco Mar SA recognized an impairment in its assets in progress for S/18.2 million; the subsidiary Cumbra Peru S.A. recognized an impairment of intangibles for S/35.4 million; the subsidiary Adexus recognized an impairment of Intangibles for S/10.1 million). |
Tax Situation (Tables)
Tax Situation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Income Tax Expense | c) The income tax expense shown in the consolidated statement of income comprises: 2018 2019 2020 Current income tax 151,039 114,240 53,134 Deferred income tax (Note 24) (26,938 ) 189,131 5,310 124,101 303,371 58,444 (-) Discontinued Operations (13,108 ) — — Income tax expense 110,993 303,371 58,444 |
Summary of Weighted-Average Income Tax Rate Applicable To Pre-tax Income | 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: 2018 2019 2020 Profit (loss) before income tax 124,005 (535,271 ) (131,900 ) Income tax by applying local applicable tax rates on profit generated in the respective countries 37,823 (157,744 ) (39,719 ) Tax effect on: - Reversal of deferred income tax asset — 174,716 7,950 - Non-recoverable — 85,301 19,794 - Non-deductible 70,411 84,620 49,580 - Unrecognized deferred income tax asset 8,592 82,424 24,930 - Change in prior years estimations 3,235 36,529 2,213 - Provision of tax contingencies — 7,079 (3,421 ) - Adjustment for changes in rates of income tax 1,524 622 (240 ) - Non-taxable (1,691 ) (1,195 ) (22 ) - Equity method (profit) loss (1,094 ) (64 ) (227 ) - Others (7,807 ) (8,917 ) (2,394 ) Income tax 110,993 303,371 58,444 |
Summary of Weighted Average Pre-tax Profit or Loss and Applicable Income Tax Rate | Country Local Tax Rates Profit before Income Tax Income Tax (A) (B) (A)*(B) 2018 Peru 29.50 % 151,627 44,730 Peru - Norvial S.A. 27.00 % 21,104 5,698 Peru - Tren Urbano de Lima S.A. 30.00 % 125,136 37,541 Peru -Via Expresa Sur S.A. 30.00 % 2,951 885 Peru - UNNA ENERGIA S.A. 29.00 % 35,421 10,272 Chile 27.00 % (30,710 ) (8,292 ) Colombia 37.00 % 11,851 4,385 Colombia 33.00 % 1,984 655 Bolivia 25.00 % (137 ) (34 ) Unrealized gains (195,222 ) (58,017 ) 124,005 37,823 2019 Peru 29.50 % (1,612,192 ) (475,597 ) Peru - Norvial S.A. 27.00 % 24,066 6,498 Peru - Tren Urbano de Lima S.A. 30.00 % 121,080 36,324 Peru - Via Expresa Sur S.A. 30.00 % (17,752 ) (5,326 ) Peru - UNNA ENERGIA 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 0.00 % 1,021,609 299,834 (535,271 ) (157,744 ) 2020 Peru 29.50 % (132,192 ) (38,997 ) Peru - Norvial S.A. 27.00 % (2,029 ) (548 ) Peru - Tren Urbano de Lima S.A. 30.00 % 87,521 26,256 Peru - Via Expresa Sur S.A. 30.00 % (53,697 ) (16,109 ) Peru - UNNA ENERGIA S.A. 29.00 % (1,930 ) (540 ) Chile 27.00 % (15,282 ) (4,126 ) Colombia 32.00 % (11,178 ) (3,577 ) Bolivia 25.00 % (13 ) (3 ) Unrealized gains (3,100 ) (2,075 ) (131,900 ) (38,379 ) |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Accumulated Other Comprehensive Income Loss | The analysis of this account is reflected below: Cash flow Foreign Increase in assets as held for sale Exchange in foreign Total As of January 1, 2018 475 (69,320 ) 7,461 (1,962 ) (63,346 ) (Debit) credit for the year 160 (7,875 ) — (10,800 ) (18,515 ) Tax effects (47 ) — — 2,808 2,761 Transfer to profit or loss — 14,805 — — 14,805 Other comprehensive income of the year 113 6,930 — (7,992 ) (949 ) As of December 31, 2018 588 (62,390 ) 7,461 (9,954 ) (64,295 ) (Debit) credit for the year 8 (6,892 ) — — (6,884 ) Tax effects (2 ) — — — (2 ) Other comprehensive loss of the year 6 (6,892 ) — — (6,886 ) As of December 31, 2019 594 (69,282 ) 7,461 (9,954 ) (71,181 ) (Debit) credit for the year (594 ) 8,158 — 708 8,272 Other comprehensive income of the year (594 ) 8,158 — 708 8,272 As of December 31, 2020 — (61,124 ) 7,461 (9,246 ) (62,909 ) |
Summary of Other Comprehensive Income | The amounts in the above table only represent amounts attributable to the Company’s controlling interest, net of tax. The table below shows the movement in other comprehensive income per year: 2018 2019 2020 Controlling interest (949 ) (6,886 ) 8,272 Non-controlling (1,346 ) (1,734 ) 114 Adjustment for actuarial gains and losses, net of tax 16,589 — — Total value in OCI 14,294 (8,620 ) 8,386 |
Loss Per Share (Tables)
Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Basic Earnings Per Share | The basic loss per common share is as follows: 2018 2019 2020 Loss attributable to owners of the Company during the year (83,188 ) (884,721 ) (217,871 ) Weighted average number of shares in issue at S/1.00 each, at December 31, 665,835,490 822,213,119 871,917,855 Basic loss per share (in S/) ( *) (0.125 ) (1.076 ) (0.250 ) 2018 2019 2020 Loss from continuing operations attributable to owners of the Company during the year (73,506 ) (884,721 ) (217,871 ) Weighted average number of shares in issue at S/1.00 each, at December 31, 665,835,490 822,213,119 871,917,855 Basic loss per share (in S/) ( *) (0.110 ) (1.076 ) (0.250 ) (*) The Corporation does not have common shares with dilutive effects As of December 31, 2018, 2019 and 2020. |
Transactions with Non-Control_2
Transactions with Non-Controlling Interests (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Contributions of Non-controlling Shareholders | Corresponds to the contributions and returns made by the partners of the subsidiary Viva Negocio Inmobiliario S.A. for the realization of real estate projects. As of December 31, the balances include: 2018 2019 2020 Contributions received 3,399 152 18 Returns of contributions (87,841 ) (33,148 ) (15,743 ) (84,442 ) (32,996 ) (15,725 ) Plus: Contributions from other subsidiaries 15,120 — — Decrease in equity of non controlling parties (69,322 ) (32,996 ) (15,725 ) |
General Information - Additiona
General Information - Additional Information (Detail) S/ in Thousands, $ in Millions | Feb. 11, 2020PEN (S/) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2019PEN (S/) | Dec. 31, 2018PEN (S/) | Dec. 31, 2020USD ($) |
General Information [Line Items] | ||||||
Payments to secure trust contingent obligations | S/ 72,000 | $ 20 | ||||
Maximum eventual liability | 469,700 | $ 129.6 | ||||
Present value of trust liability | 216,000 | 59.6 | ||||
Maximum Exposure to Civil Reparation | 9,600 | $ 2.6 | ||||
Goodwill impaired | S/ 0 | S/ 33,089 | S/ 0 | |||
Date of modifications of company name | Feb. 4, 2021 | Feb. 4, 2021 | ||||
Description of modification of company's name | The General Shareholder’s Meeting on November 2, 2020 approved the modification of the Company’s name from Graña y Montero S.A.A. to AENZA S.A.A., which is effective as of February 4, 2021. | The General Shareholder’s Meeting on November 2, 2020 approved the modification of the Company’s name from Graña y Montero S.A.A. to AENZA S.A.A., which is effective as of February 4, 2021. | ||||
Fines And Penalties | S/ 103,400 | |||||
Estimated Fines And Penalties | S/ 39,000 | |||||
Covid 19 [member] | ||||||
General Information [Line Items] | ||||||
Percentage of decrease in revenue | 25.00% | 25.00% | ||||
Goodwill impaired | S/ 0 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) S/ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2019PEN (S/) | Dec. 31, 2019USD ($) | |
Basis Of Presentation And Summary Of Significant Accounting Policies [line items] | ||||
Account Balance Reclassified | S/ 27,800 | |||
Viva GyM S.A. [member] | ||||
Basis Of Presentation And Summary Of Significant Accounting Policies [line items] | ||||
Estimated fair value | S/ 51,310 | $ 14,160 | S/ 62,600 | $ 18,700 |
Morelco S.A.S. [member] | ||||
Basis Of Presentation And Summary Of Significant Accounting Policies [line items] | ||||
Put option period | 10 years | 10 years | ||
Chile (member) | ||||
Basis Of Presentation And Summary Of Significant Accounting Policies [line items] | ||||
Employees indemnity period | 330 days | 330 days | ||
Peru [member] | ||||
Basis Of Presentation And Summary Of Significant Accounting Policies [line items] | ||||
Workers' profit sharing on taxable income, Percentage | 5.00% | 5.00% | ||
Right-of-use assets [member] | Land [member] | ||||
Basis Of Presentation And Summary Of Significant Accounting Policies [line items] | ||||
Estimated useful life | 60 years | 60 years | ||
Bottom of range [member] | ||||
Basis Of Presentation And Summary Of Significant Accounting Policies [line items] | ||||
Percentage of voting rights held | 20.00% | 20.00% | ||
Bottom of range [member] | Chile (member) | ||||
Basis Of Presentation And Summary Of Significant Accounting Policies [line items] | ||||
Workers' profit sharing on taxable income, Percentage | 4.75% | 4.75% | ||
Bottom of range [member] | Contractual relationships with clients [member] | ||||
Basis Of Presentation And Summary Of Significant Accounting Policies [line items] | ||||
Estimated useful life | 5 years | 5 years | ||
Bottom of range [member] | Computer software [member] | ||||
Basis Of Presentation And Summary Of Significant Accounting Policies [line items] | ||||
Estimated useful life | 2 years | 2 years | ||
Bottom of range [member] | Investment property [member] | ||||
Basis Of Presentation And Summary Of Significant Accounting Policies [line items] | ||||
Estimated useful life of property | 5 years | 5 years | ||
Top of range [member] | ||||
Basis Of Presentation And Summary Of Significant Accounting Policies [line items] | ||||
Percentage of voting rights held | 50.00% | 50.00% | ||
Top of range [member] | Contractual relationships with clients [member] | ||||
Basis Of Presentation And Summary Of Significant Accounting Policies [line items] | ||||
Estimated useful life | 9 years | 9 years | ||
Top of range [member] | Computer software [member] | ||||
Basis Of Presentation And Summary Of Significant Accounting Policies [line items] | ||||
Estimated useful life | 15 years | 15 years | ||
Top of range [member] | Investment property [member] | ||||
Basis Of Presentation And Summary Of Significant Accounting Policies [line items] | ||||
Estimated useful life of property | 50 years | 50 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Estimated Useful Life of Property, Plant and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Bottom of range [member] | Buildings [member] | |
Disclosure Of Property Plant And Equipment Estimated Useful Life [line items] | |
Property, plant and equipment, estimated useful life | 3 years |
Bottom of range [member] | Machinery [member] | |
Disclosure Of Property Plant And Equipment Estimated Useful Life [line items] | |
Property, plant and equipment, estimated useful life | 2 years |
Bottom of range [member] | Vehicles [member] | |
Disclosure Of Property Plant And Equipment Estimated Useful Life [line items] | |
Property, plant and equipment, estimated useful life | 2 years |
Bottom of range [member] | Furniture and fixture [member] | |
Disclosure Of Property Plant And Equipment Estimated Useful Life [line items] | |
Property, plant and equipment, estimated useful life | 2 years |
Bottom of range [member] | Other equipment [member] | |
Disclosure Of Property Plant And Equipment Estimated Useful Life [line items] | |
Property, plant and equipment, estimated useful life | 2 years |
Top of range [member] | Buildings [member] | |
Disclosure Of Property Plant And Equipment Estimated Useful Life [line items] | |
Property, plant and equipment, estimated useful life | 50 years |
Top of range [member] | Machinery [member] | |
Disclosure Of Property Plant And Equipment Estimated Useful Life [line items] | |
Property, plant and equipment, estimated useful life | 10 years |
Top of range [member] | Vehicles [member] | |
Disclosure Of Property Plant And Equipment Estimated Useful Life [line items] | |
Property, plant and equipment, estimated useful life | 10 years |
Top of range [member] | Furniture and fixture [member] | |
Disclosure Of Property Plant And Equipment Estimated Useful Life [line items] | |
Property, plant and equipment, estimated useful life | 10 years |
Top of range [member] | Other equipment [member] | |
Disclosure Of Property Plant And Equipment Estimated Useful Life [line items] | |
Property, plant and equipment, estimated useful life | 10 years |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Summary of reclassification of consolidated statement of financial position (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets | ||||
Cash and cash equivalent | S/ 900,168 | S/ 950,701 | S/ 807,214 | |
Trade accounts receivable, Current | 703,167 | 914,204 | ||
Current, Work in Progress, net | 186,433 | 49,457 | ||
Accounts receivable from related parties | 27,338 | 36,658 | ||
Other accounts receivable | 433,531 | 454,474 | ||
Inventories | 552,000 | 555,401 | ||
Prepaid expenses | 22,972 | 16,478 | ||
Current assets before non-current assets classified as held for sale | 2,825,609 | 2,977,373 | ||
Non-current assets as held for sale | 2,398 | |||
Total current assets | 2,825,609 | 2,979,771 | ||
Non-current assets | ||||
Trade accounts receivable, net | 730,666 | 779,609 | ||
Long-term work in progress, net | 23,117 | |||
Accounts receivable from related parties | 620,071 | 574,723 | ||
Prepaid expenses | 22,264 | 27,934 | ||
Other long-term accounts receivable | 328,223 | 273,432 | ||
Investments in associates and joint ventures | 35,516 | 37,035 | ||
Investment property | 26,073 | 28,326 | ||
Property, plant and equipment, net | 405,469 | 463,990 | 503,584 | S/ 865,735 |
Intangible assets | 791,990 | 854,227 | 868,050 | S/ 940,070 |
Right-of-use assets | 64,518 | 90,581 | ||
Deferred income tax asset | 262,165 | 271,719 | ||
Total non-current assets | 3,286,955 | 3,424,693 | 4,310,507 | |
Total assets | 6,112,564 | 6,404,464 | ||
Current liabilities | ||||
Borrowings | 452,884 | 481,529 | ||
Bonds | 58,446 | 44,737 | ||
Trade accounts payable | 1,097,167 | 1,159,075 | ||
Accounts payable to related parties | 43,818 | 38,916 | ||
Current income tax | 34,494 | 51,169 | ||
Other accounts payable | 718,406 | 669,674 | ||
Provisions | 92,757 | 113,483 | ||
Total current liabilities | 2,497,972 | 2,558,583 | ||
Non-current liabilities | ||||
Borrowings | 445,436 | 409,066 | ||
Bond | 874,313 | 879,305 | ||
Trade accounts payable | 40,502 | 34,814 | ||
Other accounts payable | 183,232 | 296,290 | ||
Payables related parties, not current | 36,297 | 22,583 | ||
Provisions | 336,609 | 214,952 | ||
Derivative financial instruments | 52 | |||
Deferred income tax liabilities | 102,907 | 112,734 | ||
Total non-current liabilities | 2,019,296 | 1,969,796 | ||
Total liabilities | 4,517,268 | 4,528,379 | ||
Equity | ||||
Capital | 871,918 | 871,918 | ||
Legal reserve | 132,011 | 132,011 | ||
Voluntary reserve | 29,974 | 29,974 | ||
Share Premium | 1,131,574 | 1,132,179 | ||
Other reserves | (169,234) | (177,506) | ||
Retained earnings | (728,637) | (510,766) | ||
Equity attributable to controlling interest in the Company | 1,267,606 | 1,477,810 | ||
Non controlling interests | 327,690 | 398,275 | ||
Total equity | 1,595,296 | 1,876,085 | S/ 2,489,931 | |
Total liabilities and equity | S/ 6,112,564 | 6,404,464 | ||
Audited [member] | ||||
Current assets | ||||
Cash and cash equivalent | 948,978 | |||
Trade accounts receivable, Current | 821,737 | |||
Current, Work in Progress, net | 49,457 | |||
Accounts receivable from related parties | 36,658 | |||
Other accounts receivable | 444,500 | |||
Inventories | 552,573 | |||
Prepaid expenses | 11,348 | |||
Current assets before non-current assets classified as held for sale | 2,865,251 | |||
Non-current assets as held for sale | 205,418 | |||
Total current assets | 3,070,669 | |||
Non-current assets | ||||
Trade accounts receivable, net | 753,202 | |||
Long-term work in progress, net | 23,117 | |||
Accounts receivable from related parties | 546,941 | |||
Prepaid expenses | 27,934 | |||
Other long-term accounts receivable | 300,323 | |||
Investments in associates and joint ventures | 37,035 | |||
Investment property | 28,326 | |||
Property, plant and equipment, net | 443,870 | |||
Intangible assets | 853,315 | |||
Right-of-use assets | 78,813 | |||
Deferred income tax asset | 240,919 | |||
Total non-current assets | 3,333,795 | |||
Total assets | 6,404,464 | |||
Current liabilities | ||||
Borrowings | 454,260 | |||
Bonds | 44,737 | |||
Trade accounts payable | 1,136,121 | |||
Accounts payable to related parties | 38,916 | |||
Current income tax | 47,999 | |||
Other accounts payable | 635,305 | |||
Provisions | 113,483 | |||
Total current liabilities | 2,470,821 | |||
Non-current liabilities as held for sale | 210,025 | |||
Total current liabilities | 2,680,846 | |||
Non-current liabilities | ||||
Borrowings | 344,806 | |||
Bond | 879,305 | |||
Other accounts payable | 273,101 | |||
Payables related parties, not current | 22,583 | |||
Provisions | 214,952 | |||
Derivative financial instruments | 52 | |||
Deferred income tax liabilities | 112,734 | |||
Total non-current liabilities | 1,847,533 | |||
Total liabilities | 4,528,379 | |||
Equity | ||||
Capital | 871,918 | |||
Legal reserve | 132,011 | |||
Voluntary reserve | 29,974 | |||
Share Premium | 1,132,179 | |||
Other reserves | (177,506) | |||
Retained earnings | (510,766) | |||
Equity attributable to controlling interest in the Company | 1,477,810 | |||
Non controlling interests | 398,275 | |||
Total equity | 1,876,085 | |||
Total liabilities and equity | 6,404,464 | |||
Reclassified [member] | ||||
Non-current assets | ||||
Accounts receivable from related parties | 27,782 | |||
Other long-term accounts receivable | (27,782) | |||
Adexus [member] | ||||
Current assets | ||||
Cash and cash equivalent | 1,723 | |||
Trade accounts receivable, Current | 92,467 | |||
Other accounts receivable | 9,974 | |||
Inventories | 2,828 | |||
Prepaid expenses | 5,130 | |||
Current assets before non-current assets classified as held for sale | 112,122 | |||
Non-current assets as held for sale | 203,020 | |||
Total current assets | 90,898 | |||
Non-current assets | ||||
Trade accounts receivable, net | 26,407 | |||
Other long-term accounts receivable | 891 | |||
Property, plant and equipment, net | 20,120 | |||
Intangible assets | 912 | |||
Right-of-use assets | 11,768 | |||
Deferred income tax asset | 30,800 | |||
Total non-current assets | 90,898 | |||
Current liabilities | ||||
Borrowings | 27,269 | |||
Trade accounts payable | 22,954 | |||
Current income tax | 3,170 | |||
Other accounts payable | 34,369 | |||
Total current liabilities | 87,762 | |||
Non-current liabilities as held for sale | 210,025 | |||
Total current liabilities | 122,263 | |||
Non-current liabilities | ||||
Borrowings | 64,260 | |||
Trade accounts payable | 34,814 | |||
Other accounts payable | 23,189 | |||
Total non-current liabilities | 122,263 | |||
As restated [member] | ||||
Current assets | ||||
Cash and cash equivalent | 950,701 | |||
Trade accounts receivable, Current | 914,204 | |||
Current, Work in Progress, net | 49,457 | |||
Accounts receivable from related parties | 36,658 | |||
Other accounts receivable | 454,474 | |||
Inventories | 555,401 | |||
Prepaid expenses | 16,478 | |||
Current assets before non-current assets classified as held for sale | 2,977,373 | |||
Non-current assets as held for sale | 2,398 | |||
Total current assets | 2,979,771 | |||
Non-current assets | ||||
Trade accounts receivable, net | 779,609 | |||
Long-term work in progress, net | 23,117 | |||
Accounts receivable from related parties | 574,723 | |||
Prepaid expenses | 27,934 | |||
Other long-term accounts receivable | 273,432 | |||
Investments in associates and joint ventures | 37,035 | |||
Investment property | 28,326 | |||
Property, plant and equipment, net | 463,990 | |||
Intangible assets | 854,227 | |||
Right-of-use assets | 90,581 | |||
Deferred income tax asset | 271,719 | |||
Total non-current assets | 3,424,693 | |||
Total assets | 6,404,464 | |||
Current liabilities | ||||
Borrowings | 481,529 | |||
Bonds | 44,737 | |||
Trade accounts payable | 1,159,075 | |||
Accounts payable to related parties | 38,916 | |||
Current income tax | 51,169 | |||
Other accounts payable | 669,674 | |||
Provisions | 113,483 | |||
Total current liabilities | 2,558,583 | |||
Total current liabilities | 2,558,583 | |||
Non-current liabilities | ||||
Borrowings | 409,066 | |||
Bond | 879,305 | |||
Trade accounts payable | 34,814 | |||
Other accounts payable | 296,290 | |||
Payables related parties, not current | 22,583 | |||
Provisions | 214,952 | |||
Derivative financial instruments | 52 | |||
Deferred income tax liabilities | 112,734 | |||
Total non-current liabilities | 1,969,796 | |||
Total liabilities | 4,528,379 | |||
Equity | ||||
Capital | 871,918 | |||
Legal reserve | 132,011 | |||
Voluntary reserve | 29,974 | |||
Share Premium | 1,132,179 | |||
Other reserves | (177,506) | |||
Retained earnings | (510,766) | |||
Equity attributable to controlling interest in the Company | 1,477,810 | |||
Non controlling interests | 398,275 | |||
Total equity | 1,876,085 | |||
Total liabilities and equity | S/ 6,404,464 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Summary of Restatement of Statement of Income (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Restatement [line items] | |||
Revenues | S/ 3,314,029 | S/ 4,337,861 | S/ 4,202,398 |
Gross profit | 320,608 | 450,437 | 713,970 |
Administrative expenses | (152,909) | (248,652) | (311,163) |
Other (expenses) income, net | (182,846) | (339,494) | (65,854) |
Loss from the sale of investments | (7) | ||
Operating (loss) profit | (15,147) | (137,709) | 336,946 |
Financial expenses | (156,943) | (253,134) | (260,768) |
Financial income | 39,420 | 74,346 | 51,536 |
Share of the profit or loss in associates and joint ventures | 770 | (218,774) | (3,709) |
Profit (loss) before income tax | (131,900) | (535,271) | 124,005 |
Income tax expense | (58,444) | (303,371) | (110,993) |
Profit (loss) from continuing operations | (190,344) | (838,642) | 13,012 |
Profit (loss) from discontinued operations | 44,403 | ||
Profit of the year | (190,344) | (838,642) | 57,415 |
Revenues from construction activities | 1,815,671 | 2,411,880 | 1,961,100 |
Revenues from services provided | 1,055,423 | 1,254,059 | 1,089,315 |
Revenue from real estate and sale of goods | 442,935 | 671,922 | 1,151,983 |
Cost of sales of construction services | 1,716,309 | 2,351,563 | 1,921,112 |
Cost of sales of services | 929,206 | 1,035,251 | 906,953 |
Cost of real estate and goods sold | 347,906 | 500,610 | 660,363 |
Profit (loss), attributable to [abstract] | |||
Owners of the Company | (217,871) | (884,721) | (83,188) |
Non-controlling interest | 27,527 | 46,079 | 140,603 |
Cost of sales | S/ (2,993,421) | (3,887,424) | (3,488,428) |
Previously stated [member] | |||
Disclosure Of Restatement [line items] | |||
Revenues | 4,085,004 | 3,899,462 | |
Gross profit | 441,763 | 674,489 | |
Administrative expenses | (213,908) | (278,433) | |
Other (expenses) income, net | (326,754) | (61,335) | |
Loss from the sale of investments | (7) | ||
Operating (loss) profit | (98,899) | 334,714 | |
Financial expenses | (231,709) | (247,982) | |
Financial income | 74,656 | 50,925 | |
Share of the profit or loss in associates and joint ventures | (218,774) | (3,709) | |
Profit (loss) before income tax | (474,726) | 133,948 | |
Income tax expense | (319,957) | (113,318) | |
Profit (loss) from continuing operations | (794,683) | 20,630 | |
Profit (loss) from discontinued operations | (43,959) | 36,785 | |
Profit of the year | (838,642) | 57,415 | |
Revenues from construction activities | 2,411,880 | 1,961,100 | |
Revenues from services provided | 1,089,465 | 1,003,623 | |
Revenue from real estate and sale of goods | 583,659 | 934,739 | |
Cost of sales of construction services | (2,351,563) | (1,921,112) | |
Cost of sales of services | (866,326) | (741,172) | |
Cost of real estate and goods sold | (425,352) | (562,689) | |
Profit (loss), attributable to [abstract] | |||
Owners of the Company | (884,721) | 11,336 | |
Non-controlling interest | 46,079 | 46,079 | |
Profit (loss) for the year | (838,642) | 57,415 | |
Cost of sales | (3,643,241) | (3,224,973) | |
Adexus [Member] | |||
Disclosure Of Restatement [line items] | |||
Revenues | 252,857 | 302,936 | |
Gross profit | 8,674 | 39,481 | |
Administrative expenses | (34,744) | (32,730) | |
Other (expenses) income, net | (12,740) | (4,519) | |
Loss from the sale of investments | 0 | ||
Operating (loss) profit | (38,810) | 2,232 | |
Financial expenses | (21,425) | (12,786) | |
Financial income | 310 | 611 | |
Share of the profit or loss in associates and joint ventures | 0 | 0 | |
Profit (loss) before income tax | (60,545) | (9,943) | |
Income tax expense | 16,586 | 2,325 | |
Profit (loss) from continuing operations | (43,959) | (7,618) | |
Profit (loss) from discontinued operations | 43,959 | 7,618 | |
Profit of the year | 0 | 0 | |
Revenues from services provided | 164,594 | 85,692 | |
Revenue from real estate and sale of goods | 88,263 | 217,244 | |
Cost of sales of services | (168,925) | (165,781) | |
Cost of real estate and goods sold | (75,258) | (97,674) | |
Profit (loss), attributable to [abstract] | |||
Owners of the Company | (94,524) | ||
Non-controlling interest | 94,524 | ||
Cost of sales | (244,183) | (263,455) | |
As restated [member] | |||
Disclosure Of Restatement [line items] | |||
Revenues | 4,337,861 | ||
Gross profit | 450,437 | 713,970 | |
Administrative expenses | (248,652) | (311,163) | |
Other (expenses) income, net | (339,494) | (65,854) | |
Loss from the sale of investments | (7) | ||
Operating (loss) profit | (137,709) | 336,946 | |
Financial expenses | (253,134) | (260,768) | |
Financial income | 74,346 | 51,536 | |
Share of the profit or loss in associates and joint ventures | (218,774) | (3,709) | |
Profit (loss) before income tax | (535,271) | 124,005 | |
Income tax expense | (303,371) | (110,993) | |
Profit (loss) from continuing operations | (838,642) | 13,012 | |
Profit (loss) from discontinued operations | 0 | 44,403 | |
Profit of the year | (838,642) | 57,415 | |
Revenues from construction activities | 2,411,880 | 1,961,100 | |
Revenues from services provided | 1,254,059 | 1,089,315 | |
Revenue from real estate and sale of goods | 671,922 | 1,151,983 | |
Cost of sales of construction services | (2,351,563) | (1,921,112) | |
Cost of sales of services | (1,035,251) | (906,953) | |
Cost of real estate and goods sold | (500,610) | (660,363) | |
Profit (loss), attributable to [abstract] | |||
Owners of the Company | (884,721) | (83,188) | |
Non-controlling interest | 46,079 | 140,603 | |
Profit (loss) for the year | (838,642) | 57,415 | |
Cost of sales | S/ (3,887,424) | S/ (3,488,428) |
Financial Risk Management - Sch
Financial Risk Management - Schedule of Consolidated Statement of Financial Position (Detail) S/ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2020CLP ($) | Dec. 31, 2020COP ($) | Dec. 31, 2019PEN (S/) | Dec. 31, 2019USD ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2019COP ($) |
Disclosure Of Financial Risk Management [line items] | ||||||||
Liabilities | S/ 1,831,079 | S/ 1,814,637 | ||||||
Foreign exchange risk [member] | ||||||||
Disclosure Of Financial Risk Management [line items] | ||||||||
Assets | 2,125,400 | $ 586,479 | $ 40,869,086 | $ 113,350,078 | 2,868,128 | $ 864,675 | $ 53,383,866 | $ 187,119,204 |
Liabilities | S/ 1,165,475 | $ 321,599 | $ 74,151,415 | $ 54,581,654 | S/ 1,754,630 | $ 528,981 | $ 65,260,543 | $ 76,446,723 |
Financial Risk Management - S_2
Financial Risk Management - Schedule of Foreign Currency Exchange Gains and Losses Exposure against US Dollar (Detail) - Foreign exchange risk [member] - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Financial Risk Management [line items] | |||
Gain | S/ 426,850 | S/ 392,942 | S/ 383,085 |
Loss | S/ (432,652) | S/ (425,782) | S/ (406,789) |
Financial Risk Management - Add
Financial Risk Management - Additional Information (Detail) | 12 Months Ended | |||||
Dec. 31, 2020PEN (S/) | Dec. 31, 2019PEN (S/) | Dec. 31, 2018PEN (S/) | Dec. 31, 2021CLP ($) | Dec. 31, 2020COP ($) | Dec. 31, 2020soles | |
Disclosure Of Financial Risk Management [line items] | ||||||
Percentage of debt at fixed rate | 62.30% | (61.80%) | ||||
Percentage of debt at variable rate | 37.70% | 38.20% | ||||
Increase / decrease in libor plus spread rate | 5.00% | |||||
Increase / decrease in pretax profit | S/ 10,000 | |||||
Bottom of range [member] | ||||||
Disclosure Of Financial Risk Management [line items] | ||||||
Gearing ratio | 0.10% | |||||
Top of range [member] | ||||||
Disclosure Of Financial Risk Management [line items] | ||||||
Gearing ratio | 0.70% | |||||
Foreign exchange risk [member] | ||||||
Disclosure Of Financial Risk Management [line items] | ||||||
Percentage change in foreign currency | 2.00% | |||||
Increase / decrease in pretax profit | S/ 100,000 | 700,000 | S/ 500,000 | |||
Foreign currency translation adjustments | S/ 8,300,000 | S/ 8,200,000 | S/ 5,700,000 | |||
Closing foreign exchange rate | 711,240 | 3,432,500 | 3,624 | |||
Valor Adquisitivo Constante [member] | ||||||
Disclosure Of Financial Risk Management [line items] | ||||||
Percentage of debt at fixed rate plus inflation rate | 37.50% | 37.70% | ||||
Percentage of debt at variable rate plus inflation rate | 0.20% | 0.50% |
Financial Risk Management - S_3
Financial Risk Management - Schedule of Assets and Liabilities Equivalent to Functional Currency (Detail) S/ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2020CLP ($) | Dec. 31, 2020COP ($) | Dec. 31, 2019PEN (S/) | Dec. 31, 2019USD ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2019COP ($) |
Disclosure Of Financial Risk Management [line items] | ||||||||
Liabilities | S/ 1,831,079 | S/ 1,814,637 | ||||||
Foreign exchange risk [member] | ||||||||
Disclosure Of Financial Risk Management [line items] | ||||||||
Assets | 2,125,400 | $ 586,479 | $ 40,869,086 | $ 113,350,078 | 2,868,128 | $ 864,675 | $ 53,383,866 | $ 187,119,204 |
Liabilities | S/ 1,165,475 | $ 321,599 | $ 74,151,415 | $ 54,581,654 | S/ 1,754,630 | $ 528,981 | $ 65,260,543 | $ 76,446,723 |
Financial Risk Management - S_4
Financial Risk Management - Schedule of Undiscounted Cash Flows of Financial Liabilities (Detail) S/ in Thousands | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2019PEN (S/) | Dec. 31, 2019USD ($) |
Disclosure Of Undiscounted Cash Flows Financial Liabilities [line items] | ||||
Lease liability for right-of-use asset | S/ 72,726 | S/ 92,870 | ||
Bonds | 932,759 | 924,042 | ||
Accounts payables to related parties | 43,818 | 38,916 | ||
Other accounts payables (except non-financial liabilities) | $ | $ 54,470 | $ 100,394 | ||
Liquidity risk [member] | ||||
Disclosure Of Undiscounted Cash Flows Financial Liabilities [line items] | ||||
Other financial liabilities (except for finance leases) | 838,852 | 884,559 | ||
Finance leases | 60,572 | 28,315 | ||
Lease liability for right-of-use asset | 87,698 | 115,957 | ||
Bonds | 1,663,225 | 1,709,627 | ||
Trade accounts payables (except non-financial liabilities) | 1,041,972 | 1,024,388 | ||
Accounts payables to related parties | 80,115 | 61,499 | ||
Other accounts payables (except non-financial liabilities) | 405,543 | 442,895 | ||
Other non-financial liabilities | 52 | |||
Derivative financial liabilities undiscounted cash flows | 4,177,977 | 4,267,292 | ||
Liquidity risk [member] | Up to 1 year [member] | ||||
Disclosure Of Undiscounted Cash Flows Financial Liabilities [line items] | ||||
Other financial liabilities (except for finance leases) | 433,318 | 501,864 | ||
Finance leases | 16,287 | 11,438 | ||
Lease liability for right-of-use asset | 24,714 | 31,036 | ||
Bonds | 137,090 | 115,690 | ||
Trade accounts payables (except non-financial liabilities) | 1,001,470 | 989,574 | ||
Accounts payables to related parties | 43,818 | 38,916 | ||
Other accounts payables (except non-financial liabilities) | 288,037 | 220,602 | ||
Derivative financial liabilities undiscounted cash flows | 1,944,734 | 1,909,120 | ||
Liquidity risk [member] | From 1 to 2 years [member] | ||||
Disclosure Of Undiscounted Cash Flows Financial Liabilities [line items] | ||||
Other financial liabilities (except for finance leases) | 183,796 | 147,473 | ||
Finance leases | 14,919 | 3,531 | ||
Lease liability for right-of-use asset | 32,006 | 40,808 | ||
Bonds | 168,673 | 157,516 | ||
Trade accounts payables (except non-financial liabilities) | 40,502 | |||
Accounts payables to related parties | 35,461 | 21,747 | ||
Other accounts payables (except non-financial liabilities) | 2,185 | 2,505 | ||
Other non-financial liabilities | 52 | |||
Derivative financial liabilities undiscounted cash flows | 477,542 | 373,632 | ||
Liquidity risk [member] | Within 2 to 5 years [member] | ||||
Disclosure Of Undiscounted Cash Flows Financial Liabilities [line items] | ||||
Other financial liabilities (except for finance leases) | 197,785 | 235,222 | ||
Finance leases | 20,851 | 13,346 | ||
Lease liability for right-of-use asset | 19,847 | 32,562 | ||
Bonds | 385,919 | 358,461 | ||
Trade accounts payables (except non-financial liabilities) | 34,814 | |||
Other accounts payables (except non-financial liabilities) | 115,321 | 219,788 | ||
Derivative financial liabilities undiscounted cash flows | 739,723 | 894,193 | ||
Liquidity risk [member] | Over 5 years [member] | ||||
Disclosure Of Undiscounted Cash Flows Financial Liabilities [line items] | ||||
Other financial liabilities (except for finance leases) | 23,953 | |||
Finance leases | 8,515 | |||
Lease liability for right-of-use asset | 11,131 | 11,551 | ||
Bonds | 971,543 | 1,077,960 | ||
Accounts payables to related parties | 836 | 836 | ||
Derivative financial liabilities undiscounted cash flows | S/ 1,015,978 | S/ 1,090,347 |
Financial Risk Management - S_5
Financial Risk Management - Schedule of Information About Gearing Ratio (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of Gearing Ratio [abstract] | |||
Total financial liabilities and bonds | S/ 1,831,079 | S/ 1,814,637 | |
Less: Cash and cash equivalent | (900,168) | (950,701) | S/ (807,214) |
Net debt | 930,911 | 863,936 | |
Total equity | 1,595,296 | 1,876,085 | S/ 2,489,931 |
Total capital | S/ 2,526,207 | S/ 2,740,021 | |
Gearing ratio | 0.37% | 0.32% |
Financial Risk Management - S_6
Financial Risk Management - Schedule of Assets and Liabilities Measured at Fair Value (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Financial liabilities | ||
Derivatives used for hedging | S/ 1,831,079 | S/ 1,814,637 |
Level 2 of fair value hierarchy [member] | Derivatives used for hedging [member] | ||
Financial liabilities | ||
Derivatives used for hedging | S/ 52 |
Critical Accounting Estimates_3
Critical Accounting Estimates And Judgments - Summary of Sensitivity Analysis Based on 10% Increase/Decrease in Assumptions of Gross Margin, Discount Rate, Terminal Growth Rate (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Goodwill [member] | Engineering and Construction [member] | ||
Disclosure Of Sensitivity Analysis [line items] | ||
Effect of ten percent decrease in assumptions of gross margin on percentage of recoverable amount, percent | (8.30%) | (25.54%) |
Effect of ten percent decrease in assumptions of discount rate on percentage of recoverable amount, percent | 32.68% | (4.30%) |
Effect of ten percent decrease in assumptions of terminal growth rate on percentage of recoverable amount, percent | 11.58% | (16.31%) |
Effect of ten percent increase in assumptions of gross margin on percentage of recoverable amount, percent | 37.10% | (4.25%) |
Effect of ten percent increase in assumptions of discount rate on percentage of recoverable amount, percent | 0.53% | (23.09%) |
Effect of ten percent increase in assumptions of terminal growth rate on percentage of recoverable amount, percent | 17.44% | (13.38%) |
Goodwill [member] | Electromechanical [member] | ||
Disclosure Of Sensitivity Analysis [line items] | ||
Effect of ten percent decrease in assumptions of gross margin on percentage of recoverable amount, percent | 41.81% | 35.63% |
Effect of ten percent decrease in assumptions of discount rate on percentage of recoverable amount, percent | 52.32% | 48.89% |
Effect of ten percent decrease in assumptions of terminal growth rate on percentage of recoverable amount, percent | 46.83% | 42.36% |
Effect of ten percent increase in assumptions of gross margin on percentage of recoverable amount, percent | 55.60% | 52.97% |
Effect of ten percent increase in assumptions of discount rate on percentage of recoverable amount, percent | 45.23% | 39.92% |
Effect of ten percent increase in assumptions of terminal growth rate on percentage of recoverable amount, percent | 50.65% | 46.32% |
Trademark [member] | Morelco S.A.S. [member] | ||
Disclosure Of Sensitivity Analysis [line items] | ||
Effect of ten percent decrease in assumptions of revenue growth rate on percentage of recoverable amount, percent | 59.65% | 22.14% |
Effect of ten percent increase in assumptions of revenue growth rate on percentage of recoverable amount, percent | 123.51% | 60.11% |
Effect of ten percent decrease in assumptions of discount rate on percentage of recoverable amount, percent | 124.29% | 63.02% |
Effect of ten percent decrease in assumptions of terminal growth rate on percentage of recoverable amount, percent | 86.47% | 37.49% |
Effect of ten percent increase in assumptions of discount rate on percentage of recoverable amount, percent | 66.82% | 23.56% |
Effect of ten percent increase in assumptions of terminal growth rate on percentage of recoverable amount, percent | 97.09% | 44.02% |
Trademark [member] | Vial y Vives-DSD [member] | ||
Disclosure Of Sensitivity Analysis [line items] | ||
Effect of ten percent decrease in assumptions of revenue growth rate on percentage of recoverable amount, percent | (1.04%) | 110.69% |
Effect of ten percent increase in assumptions of revenue growth rate on percentage of recoverable amount, percent | 2.79% | 72.38% |
Effect of ten percent decrease in assumptions of discount rate on percentage of recoverable amount, percent | (6.56%) | 78.72% |
Effect of ten percent decrease in assumptions of terminal growth rate on percentage of recoverable amount, percent | (9.14%) | 88.07% |
Effect of ten percent increase in assumptions of discount rate on percentage of recoverable amount, percent | 9.95% | 106.64% |
Effect of ten percent increase in assumptions of terminal growth rate on percentage of recoverable amount, percent | 11.05% | 95.20% |
Critical Accounting Estimates_4
Critical Accounting Estimates and Judgments - Additional Information (Detail) | Apr. 30, 2015PEN (S/) | Dec. 31, 2020PEN (S/)bblWellApartment | Dec. 31, 2019PEN (S/)Well | Dec. 31, 2018PEN (S/) |
Disclosure of critical accounting estimates and judgments [line items] | ||||
Maximum exposure to tax contingencies | S/ 147,700,000 | |||
Percentage of increase/ decrease in Group's gross margins considered for sensitivity analysis | 10.00% | |||
Pre-tax discount rate used for present value calculation, bond rate period description | Peruvian sovereign bonds in soles and dollars between 3, 5 and 30 years | |||
Period to initiate legal actions | 8 years | |||
Recovery percent of legal action amount | 50.00% | |||
Impairment provision for Goodwill | S/ 0 | S/ 33,089,000 | S/ 0 | |
Number Of Lots | Apartment | 4 | |||
Estimated Future Recoverable Value For Crude Oil Measured With Value In Use Approach | S/ 783,800,000 | |||
Estimated Future Recoverable Value For Crude Oil Measured With Value In Use Approach Exceeds Its Carrying Amount | 361,000,000 | |||
Impairment Recovery of Assets | S/ 0 | |||
Description Of Information About Changes in Projected Future Quoted Oil And Gas Prices And Changes in Discount Rates Considered in Sensitivity Analysis | Changes in the discount rate: If the discount rate used by management were to increase by 10%. | 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%. | ||
Description Of Information About Volatility Of Prices And Discount Rates Considered IN Sensitivity Analysis | Assuming that prices had been reduced by 10%, and the discount rate had been increased by 10%, this would have resulted in a negative variation in the Company’s value in use of 29.2%. | |||
Uncertainty In Projected Cash Recoverable value For Oil Still Exceeds Its Carrying Amount | S/ 194,000,000 | |||
License Agreemnts for Block Three And Four [Member] | ||||
Disclosure of critical accounting estimates and judgments [line items] | ||||
Cash flows for recoginition of assets used in exploitation of hydrocarbons | S/ 35,700,000 | |||
Weighted Average Cost of Capital Rate [Member] | ||||
Disclosure of critical accounting estimates and judgments [line items] | ||||
Discount Rate Of Lots | 11.09% | |||
Block one [member] | ||||
Disclosure of critical accounting estimates and judgments [line items] | ||||
Pre-tax discount rate used for present value calculation | 0.17% | 1.58% | ||
Block five [member] | ||||
Disclosure of critical accounting estimates and judgments [line items] | ||||
Pre-tax discount rate used for present value calculation | 1.149% | 1.66% | ||
Block III [member] | ||||
Disclosure of critical accounting estimates and judgments [line items] | ||||
Pre-tax discount rate used for present value calculation | 1.55% | 2.33% | ||
Block IV [member] | ||||
Disclosure of critical accounting estimates and judgments [line items] | ||||
Pre-tax discount rate used for present value calculation | 5.65% | 2.33% | ||
Block One Dollars [Member] | ||||
Disclosure of critical accounting estimates and judgments [line items] | ||||
Pre-tax discount rate used for present value calculation | 0.36% | |||
Block One Soles [Member] | ||||
Disclosure of critical accounting estimates and judgments [line items] | ||||
Pre-tax discount rate used for present value calculation | 1.95% | |||
Other property, plant and equipment [member] | Weighted Average Cost of Capital Rate [Member] | ||||
Disclosure of critical accounting estimates and judgments [line items] | ||||
Discount Rate Of Lots | 10.17% | |||
Gasoducto Sur Peruano [member] | ||||
Disclosure of critical accounting estimates and judgments [line items] | ||||
Percentage of Net Carrying Amount (NCA) of the Concession assets | 72.25% | |||
Bottom of range [member] | ||||
Disclosure of critical accounting estimates and judgments [line items] | ||||
Long Term Estimated Future Projected And Forecast Prices for Crude Oil In The Market | bbl | 57.50 | |||
Long Term Estimated Future Projected And Forecast Reference Prices for Crude Oil In The Market | bbl | 57.50 | |||
Bottom of range [member] | Viva GyM S.A. [member] | ||||
Disclosure of critical accounting estimates and judgments [line items] | ||||
Percentage of voting rights held in subsidiaries | 30.00% | |||
Top of range [member] | ||||
Disclosure of critical accounting estimates and judgments [line items] | ||||
Long Term Estimated Future Projected And Forecast Prices for Crude Oil In The Market | bbl | 100.25 | |||
Long Term Estimated Future Projected And Forecast Reference Prices for Crude Oil In The Market | bbl | 98.68 | |||
Top of range [member] | Viva GyM S.A. [member] | ||||
Disclosure of critical accounting estimates and judgments [line items] | ||||
Percentage of voting rights held in subsidiaries | 50.00% | |||
Parent company operation [member] | Promotora Larcomar S.A. [member] | ||||
Disclosure of critical accounting estimates and judgments [line items] | ||||
Percentage of equity interest in subsidiaries | 46.55% | 46.55% | ||
Talara, Piura [member] | ||||
Disclosure of critical accounting estimates and judgments [line items] | ||||
Number of wells closed | Well | 193 | 189 | ||
Present value of estimated provision for closure of wells | S/ 52,900,000 | S/ 50,100,000 |
Critical Accounting Estimates_5
Critical Accounting Estimates and Judgments - Summary of Sensitivity Analysis Performed Considering a 10% Increase/Decrease in Group's Gross Margins (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Sensitivity Analysis [line items] | |||
Sales | S/ 1,815,671 | S/ 2,411,880 | S/ 1,961,100 |
Gross profit | 320,608 | 450,437 | 713,970 |
Profit loss before tax | (131,900) | (535,271) | 124,005 |
Sensitivity analysis [member] | |||
Disclosure Of Sensitivity Analysis [line items] | |||
Sales | 1,815,671 | 2,411,880 | 1,961,100 |
Gross profit | S/ 99,362 | S/ 60,317 | S/ 32,685 |
Percentage of gross profit | 5.47% | 2.50% | 1.67% |
Percentage of gross profit, Plus 10% | 6.02% | 2.75% | 1.84% |
Increase in profit before income tax | S/ 9,941 | S/ 6,010 | S/ 3,399 |
Profit loss before tax | S/ 109,303 | S/ 66,327 | S/ 36,084 |
Profit loss before tax, Less 10% | 4.92% | 2.25% | 1.50% |
Decrease in profit before income tax | S/ (9,941) | S/ (6,010) | S/ (3,399) |
Profit loss before tax on ten percentage decrease in gross margin | S/ 89,421 | S/ 54,307 | S/ 29,286 |
Interests in Other Entities - S
Interests in Other Entities - Summary of Principal Direct and Indirect Subsidiaries Classified by Operating Segment (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Engineering and Construction [member] | Cumbra Peru S.A [member] | |
Disclosure of subsidiaries [line items] | |
Name | Cumbra Peru S.A. |
Country | Peru and Colombia |
Economic activity | Civil construction, electro-mechanic assembly, buildings management and implementing housing development projects and other related services. |
Engineering and Construction [member] | GyM Chile S.p.A. [member] | |
Disclosure of subsidiaries [line items] | |
Name | GyM Chile S.p.A. |
Country | Chile |
Economic activity | Investment funds, investment companies and similar financial entities. |
Engineering and Construction [member] | Vial y Vives-DSD S.A. [member] | |
Disclosure of subsidiaries [line items] | |
Name | Vial y Vives - DSD S.A. |
Country | Chile |
Economic activity | Construction engineering projects, civil construction and related technical consultancy, rental of agricultural machinery and equipment, forestry, construction and civil engineering without operator. |
Engineering and Construction [member] | Cumbra Ingenieria S.A. [member] | |
Disclosure of subsidiaries [line items] | |
Name | Cumbra Ingenieria S.A. |
Country | Peru, Mexico, and Bolivia |
Economic activity | Advisory and consultancy services in engineering, carrying out studies and projects, managing projects and supervision of works. |
Engineering and Construction [member] | Morelco S.A.S. [member] | |
Disclosure of subsidiaries [line items] | |
Name | Morelco S.A.S. |
Country | Colombia and Ecuador |
Economic activity | 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 [member] | UNNA Energia S.A. [member] | |
Disclosure of subsidiaries [line items] | |
Name | UNNA Energia S.A. |
Country | Peru |
Economic activity | Oil and oil by-products extraction, operation and exploration services, as well as providing storage and fuel dispatch services. |
Infrastructure [member] | Oiltanking Andina Services S.A. [member] | |
Disclosure of subsidiaries [line items] | |
Name | Oiltanking Andina Services S.A. |
Country | Peru |
Economic activity | Operation of the gas processing plant of Pisco - Camisea. |
Infrastructure [member] | Transportadora de Gas Natural Comprimido Andino S.A.C. [member] | |
Disclosure of subsidiaries [line items] | |
Name | Transportadora de Gas Natural Comprimido Andino S.A.C. |
Country | Peru |
Economic activity | Supply, process and market natural gas and its derivative products. |
Infrastructure [member] | Concar S.A.C. [member] | |
Disclosure of subsidiaries [line items] | |
Name | Concar S.A.C. |
Country | Peru |
Economic activity | Highway and roads concessions operation and maintenance. |
Infrastructure [member] | Tren Urbano de Lima S.A.[member] | |
Disclosure of subsidiaries [line items] | |
Name | Tren Urbano de Lima S.A. |
Country | Peru |
Economic activity | Concession for the operation of the public transportation system of Lima Metro (Metro de Lima Metropolitana). |
Infrastructure [member] | Survial S.A. [member] | |
Disclosure of subsidiaries [line items] | |
Name | Survial S.A. |
Country | Peru |
Economic activity | Concession for constructing, operating and maintaining Section 1 of the “Southern Inter-oceanic” highway. |
Infrastructure [member] | Norvial S.A. [member] | |
Disclosure of subsidiaries [line items] | |
Name | Norvial S.A. |
Country | Peru |
Economic activity | Concession for restoring, operating and maintaining the “Ancon — Huacho — Pativilca” section of the Panamericana Norte road. |
Infrastructure [member] | Concesin Canchaque S.A. [member] | |
Disclosure of subsidiaries [line items] | |
Name | Concesion Canchaque S.A.C. |
Country | Peru |
Economic activity | Concession for operating and maintaining of the Buenos Aires – Canchaque provincial road highway. |
Infrastructure [member] | Concesionaria Vía Expresa Sur S.A. [member] | |
Disclosure of subsidiaries [line items] | |
Name | Concesionaria Via Expresa Sur S.A. |
Country | Peru |
Economic activity | Concession for designing, constructing, operating and maintaining the Via Expresa — Paseo de la Republica in Lima. |
Real estate [member] | Viva Negocio Inmobiliario S.A. [Member] | |
Disclosure of subsidiaries [line items] | |
Name | Viva Negocio Inmobiliario S.A. |
Country | Peru |
Economic activity | Developing and managing real estate projects directly or together with other partners. |
Parent company operation [member] | Adexus S.A.[member] | |
Disclosure of subsidiaries [line items] | |
Name | Adexus S.A. |
Country | Chile, Peru, Colombia and Ecuador |
Economic activity | IT solutions services. |
Parent company operation [member] | CAM Holding S.p.A. [member] | |
Disclosure of subsidiaries [line items] | |
Name | CAM Holding S.p.A. |
Country | Chile |
Economic activity | Investment company. |
Parent company operation [member] | Qualys S.A. [member] | |
Disclosure of subsidiaries [line items] | |
Name | Qualys S.A. |
Country | Peru |
Economic activity | Human, economic and technological services to the Corporation’s companies. |
Parent company operation [member] | Promotores Asociados de Inmobiliarias S.A. [member] | |
Disclosure of subsidiaries [line items] | |
Name | Promotores Asociados de Inmobiliarias S.A. |
Country | Peru |
Economic activity | Operating in the real-estate industry and engaged in the development and sale of office premises in Peru. |
Parent company operation [member] | Negocios del Gas S.A. [member] | |
Disclosure of subsidiaries [line items] | |
Name | Negocios del Gas S.A. |
Country | Peru |
Economic activity | Investment company for construction, operation, and maintenance of the pipeline system to transport natural gas and liquids. |
Parent company operation [member] | Inversiones en Autopistas S.A.[member] | |
Disclosure of subsidiaries [line items] | |
Name | Inversiones en Autopistas S.A. |
Country | Peru |
Economic activity | Holding company of shares, participation or any other credit instrument or investment document. |
Parent company operation [member] | Agenera S.A.C. [member] | |
Disclosure of subsidiaries [line items] | |
Name | Agenera S.A.C. |
Country | Perú |
Economic activity | Activities related to the generation, cogeneration, transmission, import, export and distribution of electrical energy. |
Interests in Other Entities -_2
Interests in Other Entities - Summary of Group's Subsidiaries and Related Interests (Detail) | 1 Months Ended | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Viva Negocio Inmobiliario S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares held by Subsidiaries (%) | 43.30% | ||
Engineering and Construction [member] | Cumbra Peru S.A. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 98.90% | 98.87% | |
Percentage of common shares held by the Group (%) | 98.90% | 98.87% | |
Percentage of common shares held by non-controlling interests (%) | 1.10% | 1.13% | |
Engineering and Construction [member] | Morelco S.A.S. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares held by Subsidiaries (%) | 70.00% | 70.00% | |
Percentage of common shares held by the Group (%) | 70.00% | 70.00% | |
Percentage of common shares held by non-controlling interests (%) | 30.00% | 30.00% | |
Engineering and Construction [member] | GyM Chile S.p.A. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares held by Subsidiaries (%) | 100.00% | 100.00% | |
Percentage of common shares held by the Group (%) | 100.00% | 100.00% | |
Engineering and Construction [member] | Vial y Vives - DSD S.A. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares held by Subsidiaries (%) | 94.49% | 94.49% | |
Percentage of common shares held by the Group (%) | 94.49% | 94.49% | |
Percentage of common shares held by non-controlling interests (%) | 5.51% | 5.51% | |
Engineering and Construction [member] | Cumbra Ingenieria S.A. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 89.41% | 89.41% | |
Percentage of common shares held by the Group (%) | 89.41% | 89.41% | |
Percentage of common shares held by non-controlling interests (%) | 10.59% | 10.59% | |
Engineering and Construction [member] | Ecologia Tecnologia Ambiental S.A.C.[member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares held by Subsidiaries (%) | 100.00% | 100.00% | |
Percentage of common shares held by the Group (%) | 100.00% | 100.00% | |
Engineering and Construction [member] | Gm Ingenieria y Construccin de CV [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares held by Subsidiaries (%) | 100.00% | 99.00% | |
Percentage of common shares held by the Group (%) | 100.00% | 99.00% | |
Percentage of common shares held by non-controlling interests (%) | 1.00% | ||
Engineering and Construction [member] | Gm ingeniera Bolivia S.R.L. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares held by Subsidiaries (%) | 98.57% | 98.57% | |
Percentage of common shares held by the Group (%) | 98.57% | 98.57% | |
Percentage of common shares held by non-controlling interests (%) | 1.43% | 1.43% | |
Infrastructure [member] | UNNA ENERGIA S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 95.00% | 95.00% | |
Percentage of common shares held by the Group (%) | 95.00% | 95.00% | |
Percentage of common shares held by non-controlling interests (%) | 5.00% | 5.00% | |
Infrastructure [member] | Oiltanking Andina Services S.A. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares held by Subsidiaries (%) | 50.00% | 50.00% | |
Percentage of common shares held by the Group (%) | 50.00% | 50.00% | |
Percentage of common shares held by non-controlling interests (%) | 50.00% | 50.00% | |
Infrastructure [member] | Transportadora de Gas Natural Comprimido Andino S.A.C. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares held by Subsidiaries (%) | 99.93% | 99.93% | |
Percentage of common shares held by the Group (%) | 99.93% | 99.93% | |
Percentage of common shares held by non-controlling interests (%) | 0.07% | 0.07% | |
Infrastructure [member] | Concar S.A.C. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 100.00% | 100.00% | |
Percentage of common shares held by the Group (%) | 100.00% | 100.00% | |
Infrastructure [member] | Tren Urbano de Lima S.A.[member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 75.00% | 75.00% | |
Percentage of common shares held by the Group (%) | 75.00% | 75.00% | |
Percentage of common shares held by non-controlling interests (%) | 25.00% | 25.00% | |
Infrastructure [member] | Survial S.A. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 100.00% | 100.00% | |
Percentage of common shares held by the Group (%) | 100.00% | 100.00% | |
Infrastructure [member] | Norvial S.A. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 18.20% | 18.20% | |
Percentage of common shares held by Subsidiaries (%) | 48.80% | 48.80% | |
Percentage of common shares held by the Group (%) | 67.00% | 67.00% | |
Percentage of common shares held by non-controlling interests (%) | 33.00% | 33.00% | |
Infrastructure [member] | Concesion Canchaque S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 99.96% | 99.96% | |
Percentage of common shares held by Subsidiaries (%) | 0.04% | 0.04% | |
Percentage of common shares held by the Group (%) | 100.00% | 100.00% | |
Infrastructure [member] | Concesionaria Vía Expresa Sur S.A. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 99.98% | 99.98% | |
Percentage of common shares held by Subsidiaries (%) | 0.02% | 0.02% | |
Percentage of common shares held by the Group (%) | 100.00% | 100.00% | |
Real estate [member] | Viva Negocio Inmobiliario S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 56.22% | 56.22% | |
Percentage of common shares held by Subsidiaries (%) | 43.32% | 43.32% | |
Percentage of common shares held by the Group (%) | 99.54% | 99.54% | |
Percentage of common shares held by non-controlling interests (%) | 0.46% | 0.46% | |
Parent company operation [member] | Qualys S.A. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 100.00% | ||
Percentage of common shares held by the Group (%) | 100.00% | ||
Parent company operation [member] | Promotora Larcomar S.A. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 46.55% | 46.55% | |
Percentage of common shares held by the Group (%) | 46.55% | 46.55% | |
Percentage of common shares held by non-controlling interests (%) | 53.45% | 53.45% | |
Parent company operation [member] | Negocios del Gas S.A. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 99.99% | 99.99% | |
Percentage of common shares held by Subsidiaries (%) | 0.01% | 0.01% | |
Percentage of common shares held by the Group (%) | 100.00% | 100.00% | |
Parent company operation [member] | Agenera S.A. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 99.00% | 99.00% | |
Percentage of common shares held by Subsidiaries (%) | 1.00% | 1.00% | |
Percentage of common shares held by the Group (%) | 100.00% | 100.00% | |
Parent company operation [member] | Inversiones en Autopistas S.A.[member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 1.00% | 1.00% | |
Percentage of common shares held by Subsidiaries (%) | 99.00% | 99.00% | |
Percentage of common shares held by the Group (%) | 100.00% | 100.00% | |
Parent company operation [member] | CAM Holding S.p.A. [member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 100.00% | 100.00% | |
Percentage of common shares held by the Group (%) | 100.00% | 100.00% | |
Parent company operation [member] | Adexus S.A.[member] | |||
Disclosure of subsidiaries [line items] | |||
Percentage of common shares directly held by Parent (%) | 100.00% | 100.00% | |
Percentage of common shares held by the Group (%) | 100.00% | 100.00% |
Interests in Other Entities - A
Interests in Other Entities - Additional Information (Detail) S/ in Millions | 1 Months Ended |
Dec. 31, 2019PEN (S/) | |
Viva Negocio Inmobiliario S.A. [Member] | |
Disclosure of subsidiaries [line items] | |
Supplementary premium capitalize | S/ 65.3 |
Returns of contributions | S/ 82.3 |
Percentage of common shares held by Subsidiaries (%) | 43.30% |
Viva Negocio Inmobiliario S.A. [Member] | Previously stated [member] | |
Disclosure of subsidiaries [line items] | |
Percentage of common shares held by Subsidiaries (%) | 36.10% |
Cumbra Peru S.A [member] | |
Disclosure of subsidiaries [line items] | |
Percentage of common shares directly held by Parent (%) | 56.20% |
Capital increase for monetary contributions | S/ 146.1 |
Percentage of common shares held by the Group (%) | 98.90% |
Cumbra Peru S.A [member] | Previously stated [member] | |
Disclosure of subsidiaries [line items] | |
Percentage of common shares directly held by Parent (%) | 63.40% |
Percentage of common shares held by the Group (%) | 98.20% |
Interests in Other Entities -_3
Interests in Other Entities - Summary of Group's Subsidiaries Non-controlling Interests (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of Subsidiaries noncontrolling interests [line items] | ||
Non controlling interests | S/ 327,690 | S/ 398,275 |
Viva Negocio Inmobiliario SA And Subsidiaries [Member] | ||
Disclosure of Subsidiaries noncontrolling interests [line items] | ||
Non controlling interests | 132,238 | 168,839 |
Cumbra Peru SA And Subsidiaries [Member] | ||
Disclosure of Subsidiaries noncontrolling interests [line items] | ||
Non controlling interests | 51,798 | 61,569 |
Norvial S.A. [member] | ||
Disclosure of Subsidiaries noncontrolling interests [line items] | ||
Non controlling interests | 57,941 | 63,031 |
UNNA ENERGIA S.A. [Member] | ||
Disclosure of Subsidiaries noncontrolling interests [line items] | ||
Non controlling interests | 24,162 | 24,413 |
Tren Urbano De Lima S A [Member] | ||
Disclosure of Subsidiaries noncontrolling interests [line items] | ||
Non controlling interests | 59,231 | 77,564 |
Promotora Larcomar S.A. [member] | ||
Disclosure of Subsidiaries noncontrolling interests [line items] | ||
Non controlling interests | 3,022 | 3,058 |
Others [member] | ||
Disclosure of Subsidiaries noncontrolling interests [line items] | ||
Non controlling interests | S/ (702) | S/ (199) |
Interests in Other Entities -_4
Interests in Other Entities - Summarized Financial Information of Subsidiaries With Material Non-controlling Interests (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of summarized financial information [line items] | |||
Assets | S/ 2,825,609 | S/ 2,979,771 | |
Liabilities | (2,497,972) | (2,558,583) | |
Assets | 3,286,955 | 3,424,693 | S/ 4,310,507 |
Liabilities | (2,019,296) | (1,969,796) | |
Revenue | 3,314,029 | 4,337,861 | 4,202,398 |
Profit (loss) before income tax | (131,900) | (535,271) | 124,005 |
Income tax expense | (58,444) | (303,371) | (110,993) |
Profit (loss) for the year | (190,344) | (838,642) | 57,415 |
Other comprehensive income | 8,386 | (8,620) | 14,294 |
Total comprehensive income for the year | (181,958) | (847,262) | 71,709 |
Net cash provided from operating activities | 226,024 | 601,755 | 279,273 |
Net cash (applied to) provided from investing activities | (64,733) | (150,630) | 143,929 |
Net cash (applied to) provided from financing activities | (225,637) | (287,216) | (299,923) |
(Decrease) increase in cash and cash equivalents, net | (64,346) | 163,909 | 123,279 |
Cash and cash equivalents at the beginning of the year | 950,701 | 807,214 | |
Cash and cash equivalents at the end of the year | 900,168 | 950,701 | 807,214 |
Viva Negocio Inmobiliario SA And Subsidiaries [Member] | |||
Disclosure of summarized financial information [line items] | |||
Assets | 541,703 | 591,402 | |
Liabilities | (249,816) | (263,592) | |
Current net assets (liabilities) | 291,887 | 327,810 | |
Assets | 120,223 | 121,529 | |
Liabilities | (34,378) | (37,851) | |
Non-current net assets (liabilities) | 85,845 | 83,678 | |
Net assets | 377,732 | 411,488 | |
Revenue | 182,439 | 264,401 | |
Profit (loss) before income tax | 17,816 | 30,729 | |
Income tax expense | (2,854) | (7,000) | |
Profit (loss) for the year | 14,962 | 23,729 | |
Total comprehensive income for the year | 14,962 | 23,729 | |
Net cash provided from operating activities | 84,770 | 28,791 | |
Net cash (applied to) provided from investing activities | (473) | (2,613) | |
Net cash (applied to) provided from financing activities | (71,484) | (58,722) | |
(Decrease) increase in cash and cash equivalents, net | 12,813 | (32,544) | |
Cash and cash equivalents at the beginning of the year | 60,718 | 93,262 | |
Cash and cash equivalents at the end of the year | 73,531 | 60,718 | 93,262 |
Cumbra Peru SA And Subsidiaries [Member] | |||
Disclosure of summarized financial information [line items] | |||
Assets | 1,310,053 | 1,232,486 | |
Liabilities | (1,687,355) | (1,491,747) | |
Current net assets (liabilities) | (337,302) | (259,261) | |
Assets | 1,092,120 | 1,100,218 | |
Liabilities | (439,253) | (486,924) | |
Non-current net assets (liabilities) | 652,867 | 613,294 | |
Net assets | 275,565 | 354,033 | |
Revenue | 1,816,358 | 2,279,786 | |
Profit (loss) before income tax | (76,669) | (116,081) | |
Income tax expense | (1,753) | (30,843) | |
Profit (loss) for the year | (78,422) | (146,924) | |
Other comprehensive income | 7,368 | (7,436) | |
Total comprehensive income for the year | (71,054) | (154,360) | |
Net cash provided from operating activities | 1,400 | (25,503) | |
Net cash (applied to) provided from investing activities | (8,835) | (20,173) | |
Net cash (applied to) provided from financing activities | 26,550 | 209,515 | |
(Decrease) increase in cash and cash equivalents, net | 19,115 | 163,839 | |
Cash and cash equivalents at the beginning of the year | 336,467 | 172,628 | |
Cash and cash equivalents at the end of the year | 355,582 | 336,467 | 172,628 |
Norvial S.A. [member] | |||
Disclosure of summarized financial information [line items] | |||
Assets | 72,462 | 84,889 | |
Liabilities | (45,185) | (53,715) | |
Current net assets (liabilities) | 27,277 | 31,174 | |
Assets | 403,280 | 442,186 | |
Liabilities | (254,979) | (282,358) | |
Non-current net assets (liabilities) | 148,301 | 159,828 | |
Net assets | 175,578 | 191,002 | |
Revenue | 134,149 | 272,679 | |
Profit (loss) before income tax | (2,029) | 24,067 | |
Income tax expense | 1,405 | (6,815) | |
Profit (loss) for the year | (624) | 17,252 | |
Total comprehensive income for the year | (624) | 17,252 | |
Net cash provided from operating activities | 36,942 | 12,514 | |
Net cash (applied to) provided from investing activities | (12) | (33) | |
Net cash (applied to) provided from financing activities | (39,667) | (46,045) | |
(Decrease) increase in cash and cash equivalents, net | (2,737) | (33,564) | |
Cash and cash equivalents at the beginning of the year | 66,286 | 99,850 | |
Cash and cash equivalents at the end of the year | 63,549 | 66,286 | 99,850 |
Tren Urbano De Lima S A [Member] | |||
Disclosure of summarized financial information [line items] | |||
Assets | 367,610 | 449,180 | |
Liabilities | (85,616) | (93,879) | |
Current net assets (liabilities) | 281,994 | 355,301 | |
Assets | 635,836 | 623,033 | |
Liabilities | (680,905) | (668,080) | |
Non-current net assets (liabilities) | (45,069) | (45,047) | |
Net assets | 236,925 | 310,254 | |
Revenue | 345,258 | 397,853 | |
Profit (loss) before income tax | 87,522 | 121,079 | |
Income tax expense | (26,681) | (39,634) | |
Profit (loss) for the year | 60,841 | 81,445 | |
Total comprehensive income for the year | 60,841 | 81,445 | |
Net cash provided from operating activities | 52,055 | 379,882 | |
Net cash (applied to) provided from investing activities | 812 | 2,845 | |
Net cash (applied to) provided from financing activities | (145,788) | (273,009) | |
(Decrease) increase in cash and cash equivalents, net | (92,921) | 109,718 | |
Cash and cash equivalents at the beginning of the year | 300,896 | 191,178 | |
Cash and cash equivalents at the end of the year | S/ 207,975 | S/ 300,896 | S/ 191,178 |
Interests in Other Entities -_5
Interests in Other Entities - Summary of Group's Public Services Concessions (Detail) S/ in Millions, $ in Millions | 12 Months Ended | |
Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | |
Survial S.A. [member] | ||
Disclosure of detailed information about service concession arrangements [line items] | ||
Description | 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. | |
Estimated investment | $ 99 | |
Consideration | 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). | |
Ordinary shares held | 99.90% | 99.90% |
Accounting model | Financial asset | |
Concesin Canchaque S.A. [member] | ||
Disclosure of detailed information about service concession arrangements [line items] | ||
Description | 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. | |
Estimated investment | $ 31 | |
Consideration | Transaction secured by the Peruvian Government regardless the traffic volume. Revenue is secured by an annual minimum amount of US$0.3 million. | |
Ordinary shares held | 99.96% | 99.96% |
Accounting model | Financial asset | |
La Chira S.A. [member] | ||
Disclosure of detailed information about service concession arrangements [line items] | ||
Description | 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. | |
Estimated investment | S/ | S/ 250 | |
Consideration | Transaction secured by the Peruvian Government consisting of monthly and quarterly payments settled by Sedapal´s collection trust. | |
Ordinary shares held | 50.00% | 50.00% |
Accounting model | Financial asset | |
Tren Urbano De Lima SA [Member] | ||
Disclosure of detailed information about service concession arrangements [line items] | ||
Description | 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). | |
Estimated investment | S/ | S/ 642 | |
Consideration | Transaction secured by the Peruvian Government involving a quarterly payment received from MTC based on km travelled per train. | |
Ordinary shares held | 75.00% | 75.00% |
Accounting model | Financial asset | |
Norvial S.A. [member] | ||
Disclosure of detailed information about service concession arrangements [line items] | ||
Description | 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. | |
Estimated investment | $ 187 | |
Consideration | Collected from users (self-financed concession; revenue is derived from collection of tolls). | |
Ordinary shares held | 67.00% | 67.00% |
Accounting model | Intangible | |
Via Expresa Sur S.A. [member] | ||
Disclosure of detailed information about service concession arrangements [line items] | ||
Description | The Company obtained the concession 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. | |
Estimated investment | $ 197 | |
Consideration | 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. | |
Ordinary shares held | 99.98% | 99.98% |
Accounting model | Bifurcated |
Interests on Other Entities - S
Interests on Other Entities - Summary of Group's Major Joint Operations (Detail) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Concesionaria La Chira S.A. [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio CDEM [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 85.00% | 85.00% | |
Consorcio Huacho Pativilca [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 67.00% | 67.00% | 67.00% |
Consorcio GyM Conciviles [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 67.00% | 67.00% | 67.00% |
Consorcio AMDP norte [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | |
Consorcio Chicama Ascope [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | |
Consorcio Constructor Alto Cayma [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio Energia y Vapor [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | |
Consorcio Ermitano [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio GyM Sade Skanska [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | |
Consorcio GyM-OSSA [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 100.00% | 50.00% | |
Consorcio GyM-Stracon [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio HV GyM [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio La Chira [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio Lima Actividades Comerciales Sur [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio Lima Actividades Sur [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio Menegua [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | |
Consorcio para la Atencion y Mantenimiento de Ductos [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 40.00% | ||
Consorcio Rio Mantaro [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | |
Consorcio Rio Urubamba [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio TNT Vial y Vives - DSD Chile LTDA [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | |
Constructora Incolur DSD Limitada [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | |
Consorcio Alto Cayma [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 49.00% | 49.00% | 49.00% |
Consorcio La Gloria [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 49.00% | 49.00% | 49.00% |
Consorcio Norte Pachacutec [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 49.00% | 49.00% | 49.00% |
Consorcio Italo Peruano [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 48.00% | 48.00% | 48.00% |
Consorcio Vial Quinua [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 46.00% | 46.00% | 46.00% |
Consorcio Constructor Ductos del Sur [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 29.00% | 29.00% | 29.00% |
Consorcio Constructor Chavimochic [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 27.00% | 27.00% | 27.00% |
Consorcio Vial ICAPAL [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 10.00% | 10.00% | 10.00% |
Consorcio Inti Punku [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 49.00% | ||
Consorcio Pasco [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 1.00% | 1.00% | |
Consorcio Terminales [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Terminales del Peru [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio Ancon-Pativilca [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 67.00% | 67.00% | 67.00% |
Consorcio Peruano de Conservacion [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio Manperan [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 67.00% | 67.00% | 67.00% |
Consorcio Vial Sierra [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 50.00% | 50.00% | 100.00% |
Consorcio Vial Ayahuaylas [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 99.00% | 99.00% | 99.00% |
Consorcio Vial Sullana [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 99.00% | 99.00% | 99.00% |
Consorcio Vial del Sur [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 99.00% | 99.00% | 99.00% |
Consorcio Obras Viales [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 99.00% | 99.00% | |
Consorcio vial la concordia [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 88.00% | 88.00% | 88.00% |
Consorcio GMI Haskoningdhv [Member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 70.00% | 70.00% | 70.00% |
Consorcio Supervisor Ilo [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 55.00% | 55.00% | 55.00% |
Consorcio Poyry-GMI [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 40.00% | 40.00% | 40.00% |
Consorcio Internacional Supervision Valle Sagrado [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 33.00% | 33.00% | 33.00% |
Consorcio Ecotec GMI PIM [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 30.00% | 30.00% | 30.00% |
Consorcio Ribereo Chinchaycamac [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 40.00% | 40.00% | |
Consorcio Supervisor GRH [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 64.00% | ||
Consorcio Ecotec GMI [member] | |||
Disclosure of joint operations [line items] | |||
Percentage of interest | 20.00% |
Segment Reporting- Additional I
Segment Reporting- Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Foreign countries [member] | ||
Disclosure of operating segments [line items] | ||
Percentage of revenues derived from foreign operations | 24.00% | 19.00% |
Segment Reporting - Disclosure
Segment Reporting - Disclosure of Profit before Income Tax Reconciles to EBITDA (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [abstract] | |||
Net profit (loss) | S/ (190,344) | S/ (838,642) | S/ 57,415 |
Financial income and expenses | 117,523 | 178,787 | 209,232 |
Income tax | 58,444 | 303,371 | 110,993 |
Depreciation and amortization | 197,125 | 219,817 | 206,520 |
Initial EBITDA | 182,748 | (136,667) | 584,160 |
Impairment of investments | 261,924 | ||
Impairment of accounts receivables | 102,148 | 332,862 | |
Impairment of goodwill | 0 | 33,089 | 0 |
Provisions: civil repair and legal litigartion | 89,084 | 127,147 | 73,499 |
Provisions for labor claims | 7,434 | ||
Impairment recovery | (40,094) | ||
Adjusted EBITDA | S/ 381,414 | S/ 578,261 | S/ 657,659 |
Segment Reporting - Disclosur_2
Segment Reporting - Disclosure of Detailed Information about EBITDA for Each Segment (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule Of Breakdown By Operating Segments [line items] | |||
EBITDA | S/ 381,414 | S/ 578,261 | S/ 657,658 |
Engineering and Construction [member] | |||
Schedule Of Breakdown By Operating Segments [line items] | |||
EBITDA | 55,766 | 51,147 | 44,003 |
Infrastructure [member] | |||
Schedule Of Breakdown By Operating Segments [line items] | |||
EBITDA | 290,335 | 403,554 | 409,626 |
Real estate [member] | |||
Schedule Of Breakdown By Operating Segments [line items] | |||
EBITDA | 32,555 | 56,821 | 240,991 |
Parent company operations [member] | |||
Schedule Of Breakdown By Operating Segments [line items] | |||
EBITDA | (93,931) | (417,954) | 49,671 |
Elimination of intersegment amounts [member] | |||
Schedule Of Breakdown By Operating Segments [line items] | |||
EBITDA | S/ 96,689 | S/ 484,693 | S/ (86,632) |
Segment Reporting - Summary of
Segment Reporting - Summary of Breakdown by Operating Segments (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Jan. 09, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | S/ 3,314,029 | S/ 4,337,861 | S/ 4,202,398 | ||||
Parent company operations [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | 240,799 | S/ 342,608 | S/ 367,600 | ||||
Annual Backlog Two Thousand Twenty [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | 4,820,424 | ||||||
Annual Backlog Two Thousand Twenty [member] | Elimination of intersegment amounts [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | (440,152) | ||||||
Annual Backlog Two Thousand Twenty [member] | Engineering and Construction [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | 3,091,072 | ||||||
Annual Backlog Two Thousand Twenty [member] | Infrastructure [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | 1,784,582 | ||||||
Annual Backlog Two Thousand Twenty [member] | Real estate [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | S/ 218,598 | ||||||
Annual Backlog Two Thousand Twenty [member] | Parent company operations [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | S/ 166,324 | ||||||
Annual Backlog Two Thousand Twenty One [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | S/ 3,335,670 | ||||||
Annual Backlog Two Thousand Twenty One [member] | Elimination of intersegment amounts [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | (145,950) | ||||||
Annual Backlog Two Thousand Twenty One [member] | Engineering and Construction [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | 2,588,137 | ||||||
Annual Backlog Two Thousand Twenty One [member] | Infrastructure [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | 601,020 | ||||||
Annual Backlog Two Thousand Twenty One [member] | Real estate [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | 194,654 | ||||||
Annual Backlog Two Thousand Twenty One [member] | Parent company operations [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | S/ 97,808 | ||||||
Annual Backlog Two Thousand Twenty Two [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | S/ 1,023,134 | ||||||
Annual Backlog Two Thousand Twenty Two [member] | Elimination of intersegment amounts [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | (146,968) | ||||||
Annual Backlog Two Thousand Twenty Two [member] | Engineering and Construction [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | 502,935 | ||||||
Annual Backlog Two Thousand Twenty Two [member] | Infrastructure [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | 597,520 | ||||||
Annual Backlog Two Thousand Twenty Two [member] | Real estate [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | 23,944 | ||||||
Annual Backlog Two Thousand Twenty Two [member] | Parent company operations [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | S/ 45,702 | ||||||
Annual Backlog Two Thousand Twenty Three Plus [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | S/ 461,621 | ||||||
Annual Backlog Two Thousand Twenty Three Plus [member] | Elimination of intersegment amounts [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | (147,235) | ||||||
Annual Backlog Two Thousand Twenty Three Plus [member] | Infrastructure [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | 586,042 | ||||||
Annual Backlog Two Thousand Twenty Three Plus [member] | Parent company operations [member] | |||||||
Schedule Of Breakdown By Operating Segments [line items] | |||||||
Revenue | S/ 22,814 |
Segment Reporting - Disclosur_3
Segment Reporting - Disclosure of Detailed Information About Operating Segments Financial Position (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Assets.- | ||||
Cash and cash equivalent | S/ 900,168 | S/ 950,701 | S/ 807,214 | |
Trade accounts receivables, net | 703,167 | 914,204 | ||
Work in progress, net | 186,433 | 49,457 | ||
Accounts receivable from related parties | 27,338 | 36,658 | ||
Other accounts receivable | 433,531 | 454,474 | ||
Inventories, net | 552,000 | 555,401 | ||
Prepaid expenses | 22,972 | 16,478 | ||
Current assets before non-current assets classified as held for sale | 2,825,609 | 2,977,373 | ||
Non-current assets classified as held for sale | 2,398 | |||
Total current assets | 2,825,609 | 2,979,771 | ||
Long-term trade accounts receivable, net | 730,666 | 779,609 | ||
Long-term work in progress, net | 23,117 | |||
Long-term accounts receivable from related parties | 620,071 | 574,723 | ||
Prepaid expenses | 22,264 | 27,934 | ||
Other long-term accounts receivable | 328,223 | 273,432 | ||
Investments in associates and joint ventures | 35,516 | 37,035 | ||
Investment property | 26,073 | 28,326 | ||
Property, plant and equipment, net | 405,469 | 463,990 | 503,584 | S/ 865,735 |
Intangible assets, net | 791,990 | 854,227 | 868,050 | S/ 940,070 |
Right-of-use assets, net | 64,518 | 90,581 | ||
Deferred income tax asset | 262,165 | 271,719 | ||
Total non-current assets | 3,286,955 | 3,424,693 | S/ 4,310,507 | |
Total assets | 6,112,564 | 6,404,464 | ||
LIABILITIES AND EQUITY | ||||
Borrowings | 452,884 | 481,529 | ||
Bonds | 58,446 | 44,737 | ||
Trade accounts payable | 1,097,167 | 1,159,075 | ||
Accounts payable to related parties | 43,818 | 38,916 | ||
Current income tax | 34,494 | 51,169 | ||
Other accounts payable | 718,406 | 669,674 | ||
Provisions | 92,757 | 113,483 | ||
Total current liabilities | 2,497,972 | 2,558,583 | ||
Borrowings | 445,436 | 409,066 | ||
Long-term bonds | 874,313 | 879,305 | ||
Long-term trade accounts payable | 40,502 | 34,814 | ||
Other long-term accounts payable | 183,232 | 296,290 | ||
Long-term accounts payable to related parties | 36,297 | 22,583 | ||
Provisions | 336,609 | 214,952 | ||
Derivative financial instruments | 52 | |||
Deferred income tax liability | 102,907 | 112,734 | ||
Total non-current liabilities | 2,019,296 | 1,969,796 | ||
Total liabilities | 4,517,268 | 4,528,379 | ||
Equity attributable to controlling interest in the Company | 1,267,606 | 1,477,810 | ||
Non-controlling interest | 327,690 | 398,275 | ||
Total liabilities and equity | 6,112,564 | 6,404,464 | ||
Elimination of intersegment amounts [member] | ||||
Assets.- | ||||
Accounts receivable from related parties | (218,159) | (312,535) | ||
Other accounts receivable | 2 | 2 | ||
Inventories, net | (1,727) | (11,601) | ||
Current assets before non-current assets classified as held for sale | (324,134) | |||
Total current assets | (219,884) | (324,134) | ||
Long-term accounts receivable from related parties | (332,431) | (308,023) | ||
Prepaid expenses | (510) | (510) | ||
Investments in associates and joint ventures | (1,411,394) | (1,582,294) | ||
Investment property | (44,521) | |||
Property, plant and equipment, net | 33,560 | (1,159) | ||
Intangible assets, net | 6,081 | 7,134 | ||
Right-of-use assets, net | (13,595) | (15,315) | ||
Deferred income tax asset | 5,123 | 5,176 | ||
Total non-current assets | (1,757,687) | (1,894,991) | ||
Total assets | (1,977,571) | (2,219,125) | ||
LIABILITIES AND EQUITY | ||||
Borrowings | (10,973) | (9,039) | ||
Accounts payable to related parties | (216,420) | (309,190) | ||
Other accounts payable | 4,596 | |||
Total current liabilities | (222,797) | (318,229) | ||
Borrowings | (25,115) | (7,783) | ||
Long-term accounts payable to related parties | (316,361) | (310,161) | ||
Total non-current liabilities | (341,476) | (317,944) | ||
Total liabilities | (564,273) | (636,173) | ||
Equity attributable to controlling interest in the Company | (1,302,076) | (1,473,185) | ||
Non-controlling interest | (111,222) | (109,767) | ||
Total liabilities and equity | (1,977,571) | (2,219,125) | ||
Parent company operations [member] | ||||
Assets.- | ||||
Cash and cash equivalent | 50,346 | 33,570 | ||
Trade accounts receivables, net | 64,390 | 93,452 | ||
Accounts receivable from related parties | 102,103 | 99,794 | ||
Other accounts receivable | 35,051 | 37,248 | ||
Inventories, net | 360 | 2,828 | ||
Prepaid expenses | 6,281 | 5,252 | ||
Current assets before non-current assets classified as held for sale | 272,144 | |||
Total current assets | 258,531 | 272,144 | ||
Long-term trade accounts receivable, net | 27,495 | 26,407 | ||
Long-term accounts receivable from related parties | 611,498 | 552,687 | ||
Other long-term accounts receivable | 60,696 | 60,735 | ||
Investments in associates and joint ventures | 1,322,865 | 1,495,422 | ||
Investment property | 44,521 | |||
Property, plant and equipment, net | 16,718 | 69,899 | ||
Intangible assets, net | 19,017 | 20,402 | ||
Right-of-use assets, net | 51,401 | 67,300 | ||
Deferred income tax asset | 53,536 | 51,552 | ||
Total non-current assets | 2,207,747 | 2,344,404 | ||
Total assets | 2,466,278 | 2,616,548 | ||
LIABILITIES AND EQUITY | ||||
Borrowings | 102,469 | 148,648 | ||
Trade accounts payable | 57,625 | 56,442 | ||
Accounts payable to related parties | 15,708 | 58,951 | ||
Current income tax | 811 | 3,456 | ||
Other accounts payable | 40,252 | 68,802 | ||
Provisions | 62,787 | 82,580 | ||
Total current liabilities | 279,652 | 418,879 | ||
Borrowings | 328,753 | 254,931 | ||
Long-term trade accounts payable | 40,502 | 34,814 | ||
Other long-term accounts payable | 4,654 | 26,291 | ||
Long-term accounts payable to related parties | 186,886 | 165,286 | ||
Provisions | 148,548 | 68,474 | ||
Deferred income tax liability | 243 | |||
Total non-current liabilities | 709,343 | 550,039 | ||
Total liabilities | 988,995 | 968,918 | ||
Equity attributable to controlling interest in the Company | 1,474,398 | 1,644,707 | ||
Non-controlling interest | 2,885 | 2,923 | ||
Total liabilities and equity | 2,466,278 | 2,616,548 | ||
Operating segments [member] | Engineering and Construction [member] | ||||
Assets.- | ||||
Cash and cash equivalent | 382,850 | 372,991 | ||
Trade accounts receivables, net | 425,939 | 531,591 | ||
Work in progress, net | 186,433 | 49,457 | ||
Accounts receivable from related parties | 107,495 | 202,181 | ||
Other accounts receivable | 323,084 | 327,977 | ||
Inventories, net | 58,653 | 57,093 | ||
Prepaid expenses | 7,798 | 6,812 | ||
Current assets before non-current assets classified as held for sale | 1,548,102 | |||
Non-current assets classified as held for sale | 2,398 | |||
Total current assets | 1,492,252 | 1,550,500 | ||
Long-term trade accounts receivable, net | 53,036 | 97,256 | ||
Long-term accounts receivable from related parties | 315,393 | 318,748 | ||
Other long-term accounts receivable | 134,719 | 86,097 | ||
Investments in associates and joint ventures | 109,870 | 109,839 | ||
Investment property | 1,467 | 1,450 | ||
Property, plant and equipment, net | 169,091 | 186,589 | ||
Intangible assets, net | 143,575 | 136,547 | ||
Right-of-use assets, net | 8,179 | 5,638 | ||
Deferred income tax asset | 174,269 | 176,740 | ||
Total non-current assets | 1,109,599 | 1,118,904 | ||
Total assets | 2,601,851 | 2,669,404 | ||
LIABILITIES AND EQUITY | ||||
Borrowings | 230,682 | 180,535 | ||
Bonds | 4,546 | |||
Trade accounts payable | 861,833 | 932,142 | ||
Accounts payable to related parties | 185,104 | 206,907 | ||
Current income tax | 26,922 | 18,451 | ||
Other accounts payable | 525,195 | 441,271 | ||
Provisions | 8,876 | 6,031 | ||
Total current liabilities | 1,843,158 | 1,785,337 | ||
Borrowings | 25,273 | 32,620 | ||
Long-term bonds | 22,911 | |||
Other long-term accounts payable | 140,605 | 222,887 | ||
Long-term accounts payable to related parties | 104,432 | 120,255 | ||
Provisions | 122,503 | 80,125 | ||
Deferred income tax liability | 25,576 | 31,037 | ||
Total non-current liabilities | 441,300 | 486,924 | ||
Total liabilities | 2,284,458 | 2,272,261 | ||
Equity attributable to controlling interest in the Company | 261,501 | 330,992 | ||
Non-controlling interest | 55,892 | 66,151 | ||
Total liabilities and equity | 2,601,851 | 2,669,404 | ||
Operating segments [member] | Energy infrastructure [member] | ||||
Assets.- | ||||
Cash and cash equivalent | 60,165 | 53,118 | ||
Trade accounts receivables, net | 37,614 | 63,402 | ||
Accounts receivable from related parties | 35 | 369 | ||
Other accounts receivable | 27,900 | 30,853 | ||
Inventories, net | 36,016 | 32,366 | ||
Prepaid expenses | 1,964 | 1,271 | ||
Current assets before non-current assets classified as held for sale | 181,379 | |||
Total current assets | 163,694 | 181,379 | ||
Prepaid expenses | 981 | 887 | ||
Other long-term accounts receivable | 70,694 | 63,649 | ||
Investments in associates and joint ventures | 8,080 | 8,006 | ||
Property, plant and equipment, net | 166,382 | 184,819 | ||
Intangible assets, net | 250,327 | 244,901 | ||
Right-of-use assets, net | 9,872 | 24,038 | ||
Deferred income tax asset | 4,717 | 4,741 | ||
Total non-current assets | 511,053 | 531,041 | ||
Total assets | 674,747 | 712,420 | ||
LIABILITIES AND EQUITY | ||||
Borrowings | 32,550 | 42,760 | ||
Trade accounts payable | 51,225 | 67,444 | ||
Accounts payable to related parties | 1,083 | 2,233 | ||
Current income tax | 1,351 | 961 | ||
Other accounts payable | 12,905 | 16,721 | ||
Provisions | 18,943 | 18,459 | ||
Total current liabilities | 118,057 | 148,578 | ||
Borrowings | 103,154 | 116,218 | ||
Provisions | 37,599 | 40,268 | ||
Derivative financial instruments | 52 | |||
Deferred income tax liability | 36,793 | 36,476 | ||
Total non-current liabilities | 177,546 | 193,014 | ||
Total liabilities | 295,603 | 341,592 | ||
Equity attributable to controlling interest in the Company | 354,982 | 346,415 | ||
Non-controlling interest | 24,162 | 24,413 | ||
Total liabilities and equity | 674,747 | 712,420 | ||
Operating segments [member] | Toll roads infrastructure [member] | ||||
Assets.- | ||||
Cash and cash equivalent | 117,893 | 123,020 | ||
Trade accounts receivables, net | 25,014 | 44,513 | ||
Accounts receivable from related parties | 31,868 | 43,852 | ||
Other accounts receivable | 23,631 | 30,228 | ||
Inventories, net | 8,496 | 7,109 | ||
Prepaid expenses | 6,485 | 2,779 | ||
Current assets before non-current assets classified as held for sale | 251,501 | |||
Total current assets | 213,387 | 251,501 | ||
Long-term trade accounts receivable, net | 15,740 | 36,273 | ||
Long-term work in progress, net | 23,117 | |||
Long-term accounts receivable from related parties | 14,508 | 836 | ||
Prepaid expenses | 19,009 | 24,462 | ||
Other long-term accounts receivable | 531 | 5,156 | ||
Property, plant and equipment, net | 9,186 | 11,106 | ||
Intangible assets, net | 371,437 | 443,420 | ||
Right-of-use assets, net | 4,626 | 3,860 | ||
Deferred income tax asset | 5,037 | 13,054 | ||
Total non-current assets | 440,074 | 561,284 | ||
Total assets | 653,461 | 812,785 | ||
LIABILITIES AND EQUITY | ||||
Borrowings | 2,405 | 2,383 | ||
Bonds | 32,819 | 28,995 | ||
Trade accounts payable | 51,221 | 34,762 | ||
Accounts payable to related parties | 17,738 | 35,554 | ||
Current income tax | 1,638 | 3,710 | ||
Other accounts payable | 35,997 | 53,987 | ||
Provisions | 1,659 | 6,183 | ||
Total current liabilities | 143,477 | 165,574 | ||
Borrowings | 2,291 | 2,070 | ||
Long-term bonds | 248,029 | 276,550 | ||
Other long-term accounts payable | 11,623 | 15,989 | ||
Long-term accounts payable to related parties | 836 | 836 | ||
Provisions | 26,034 | 24,691 | ||
Deferred income tax liability | 1,518 | 5,806 | ||
Total non-current liabilities | 290,331 | 325,942 | ||
Total liabilities | 433,808 | 491,516 | ||
Equity attributable to controlling interest in the Company | 161,710 | 258,223 | ||
Non-controlling interest | 57,943 | 63,046 | ||
Total liabilities and equity | 653,461 | 812,785 | ||
Operating segments [member] | Transportation infrastructure [member] | ||||
Assets.- | ||||
Cash and cash equivalent | 207,975 | 300,896 | ||
Trade accounts receivables, net | 111,602 | 97,059 | ||
Accounts receivable from related parties | 2,624 | 1,853 | ||
Other accounts receivable | 13,220 | 18,548 | ||
Inventories, net | 31,861 | 30,594 | ||
Prepaid expenses | 328 | 231 | ||
Current assets before non-current assets classified as held for sale | 449,181 | |||
Total current assets | 367,610 | 449,181 | ||
Long-term trade accounts receivable, net | 632,214 | 619,086 | ||
Prepaid expenses | 2,048 | 2,307 | ||
Property, plant and equipment, net | 794 | 841 | ||
Intangible assets, net | 681 | 794 | ||
Right-of-use assets, net | 99 | 5 | ||
Total non-current assets | 635,836 | 623,033 | ||
Total assets | 1,003,446 | 1,072,214 | ||
LIABILITIES AND EQUITY | ||||
Borrowings | 42 | 5 | ||
Bonds | 21,081 | 15,742 | ||
Trade accounts payable | 32,637 | 28,508 | ||
Accounts payable to related parties | 21,531 | 21,024 | ||
Current income tax | 3,606 | 23,887 | ||
Other accounts payable | 6,719 | 4,713 | ||
Total current liabilities | 85,616 | 93,879 | ||
Borrowings | 59 | |||
Long-term bonds | 603,373 | 602,755 | ||
Other long-term accounts payable | 231 | 2,176 | ||
Long-term accounts payable to related parties | 36,297 | 22,583 | ||
Provisions | 1,925 | 1,394 | ||
Deferred income tax liability | 39,020 | 39,172 | ||
Total non-current liabilities | 680,905 | 668,080 | ||
Total liabilities | 766,521 | 761,959 | ||
Equity attributable to controlling interest in the Company | 177,694 | 232,692 | ||
Non-controlling interest | 59,231 | 77,563 | ||
Total liabilities and equity | 1,003,446 | 1,072,214 | ||
Operating segments [member] | Water treatment infrastructure [member] | ||||
Assets.- | ||||
Cash and cash equivalent | 7,408 | 6,388 | ||
Trade accounts receivables, net | 565 | 1,168 | ||
Accounts receivable from related parties | 30 | |||
Other accounts receivable | 197 | 109 | ||
Prepaid expenses | 116 | 133 | ||
Current assets before non-current assets classified as held for sale | 7,798 | |||
Total current assets | 8,316 | 7,798 | ||
Long-term accounts receivable from related parties | 11,103 | 10,475 | ||
Prepaid expenses | 736 | 788 | ||
Other long-term accounts receivable | 7,346 | 7,346 | ||
Property, plant and equipment, net | 146 | 153 | ||
Right-of-use assets, net | 7 | |||
Deferred income tax asset | 779 | 720 | ||
Total non-current assets | 20,110 | 19,489 | ||
Total assets | 28,426 | 27,287 | ||
LIABILITIES AND EQUITY | ||||
Borrowings | 6 | |||
Trade accounts payable | 61 | 132 | ||
Current income tax | 166 | |||
Other accounts payable | 766 | 835 | ||
Total current liabilities | 993 | 973 | ||
Other long-term accounts payable | 2,762 | 2,106 | ||
Long-term accounts payable to related parties | 24,207 | 23,784 | ||
Total non-current liabilities | 26,969 | 25,890 | ||
Total liabilities | 27,962 | 26,863 | ||
Equity attributable to controlling interest in the Company | 464 | 424 | ||
Total liabilities and equity | 28,426 | 27,287 | ||
Operating segments [member] | Real estate [member] | ||||
Assets.- | ||||
Cash and cash equivalent | 73,531 | 60,718 | ||
Trade accounts receivables, net | 38,043 | 83,019 | ||
Accounts receivable from related parties | 1,342 | 1,144 | ||
Other accounts receivable | 10,446 | 9,509 | ||
Inventories, net | 418,341 | 437,012 | ||
Current assets before non-current assets classified as held for sale | 591,402 | |||
Total current assets | 541,703 | 591,402 | ||
Long-term trade accounts receivable, net | 2,181 | 587 | ||
Other long-term accounts receivable | 54,237 | 50,449 | ||
Investments in associates and joint ventures | 6,095 | 6,062 | ||
Investment property | 24,606 | 26,876 | ||
Property, plant and equipment, net | 9,592 | 11,742 | ||
Intangible assets, net | 872 | 1,029 | ||
Right-of-use assets, net | 3,936 | 5,048 | ||
Deferred income tax asset | 18,704 | 19,736 | ||
Total non-current assets | 120,223 | 121,529 | ||
Total assets | 661,926 | 712,931 | ||
LIABILITIES AND EQUITY | ||||
Borrowings | 95,709 | 116,231 | ||
Trade accounts payable | 42,565 | 39,645 | ||
Accounts payable to related parties | 19,074 | 23,437 | ||
Current income tax | 704 | |||
Other accounts payable | 91,976 | 83,345 | ||
Provisions | 492 | 230 | ||
Total current liabilities | 249,816 | 263,592 | ||
Borrowings | 11,021 | 11,010 | ||
Other long-term accounts payable | 23,357 | 26,841 | ||
Total non-current liabilities | 34,378 | 37,851 | ||
Total liabilities | 284,194 | 301,443 | ||
Equity attributable to controlling interest in the Company | 138,933 | 137,542 | ||
Non-controlling interest | 238,799 | 273,946 | ||
Total liabilities and equity | S/ 661,926 | S/ 712,931 |
Segment Reporting - Disclosur_4
Segment Reporting - Disclosure of Detailed Information About Operating Segment Performance (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about operating segment performance [line items] | |||
Revenue | S/ 3,314,029 | S/ 4,337,861 | S/ 4,202,398 |
Gross profit (loss) | 320,608 | 450,437 | 713,970 |
Administrative expenses | (152,909) | (248,652) | (311,163) |
Other income and expenses, net | (182,846) | (339,494) | (65,854) |
Loss from the sale of investments | (7) | ||
Operating (loss) profit | (15,147) | (137,709) | 336,946 |
Financial expenses | (156,943) | (253,134) | (260,768) |
Financial income | 39,420 | 74,346 | 51,536 |
Share of profit or loss in associates and joint ventures | 770 | (218,774) | (3,709) |
Profit (loss) before income tax | (131,900) | (535,271) | 124,005 |
Income tax expense | (58,444) | (303,371) | (110,993) |
(Loss) profit from continuing operations | (190,344) | (838,642) | 13,012 |
Profit (loss) from discontinued operations | 44,403 | ||
Profit (loss) for the year | (190,344) | (838,642) | 57,415 |
(Loss) profit from attributable to: | |||
Owners of the Company | (217,871) | (884,721) | (83,188) |
Non-controlling interest | 27,527 | 46,079 | 140,603 |
Profit (loss) for the period | (190,344) | (838,642) | 57,415 |
Elimination of intersegment amounts [member] | |||
Disclosure of detailed information about operating segment performance [line items] | |||
Revenue | (387,040) | (653,767) | (639,448) |
Gross profit (loss) | (46,259) | (49,715) | (15,946) |
Administrative expenses | 54,811 | 61,201 | 40,113 |
Other income and expenses, net | 60 | (921) | 660 |
Operating (loss) profit | 8,612 | 10,565 | 24,827 |
Financial expenses | 28,445 | 38,219 | 24,735 |
Financial income | (30,510) | (47,991) | (42,359) |
Dividends | (7,222) | (12,688) | (8,344) |
Share of profit or loss in associates and joint ventures | 104,233 | 493,995 | (100,811) |
Profit (loss) before income tax | 103,558 | 482,100 | (101,952) |
Income tax expense | (37) | (1,118) | (834) |
(Loss) profit from continuing operations | (102,786) | ||
Profit (loss) from discontinued operations | (3,301) | ||
Profit (loss) for the year | 103,521 | 480,982 | (106,087) |
(Loss) profit from attributable to: | |||
Owners of the Company | 97,169 | 480,766 | (91,811) |
Non-controlling interest | 6,352 | 216 | (14,276) |
Profit (loss) for the period | 103,521 | 480,982 | (106,087) |
Parent company operations [member] | |||
Disclosure of detailed information about operating segment performance [line items] | |||
Revenue | 240,799 | 342,608 | 367,600 |
Gross profit (loss) | 8,134 | 6,584 | 29,251 |
Administrative expenses | (42,543) | (75,146) | (95,653) |
Other income and expenses, net | (57,648) | (318,489) | (52,298) |
Operating (loss) profit | (92,057) | (387,051) | (118,700) |
Financial expenses | (59,076) | (123,339) | (127,863) |
Financial income | 47,506 | 74,546 | 32,363 |
Dividends | 7,222 | 12,688 | 8,344 |
Share of profit or loss in associates and joint ventures | (105,888) | (711,962) | 84,138 |
Profit (loss) before income tax | (202,293) | (1,135,118) | (121,718) |
Income tax expense | (4,004) | (179,633) | 25,192 |
(Loss) profit from continuing operations | (96,526) | ||
Profit (loss) from discontinued operations | 3,608 | ||
Profit (loss) for the year | (206,297) | (1,314,751) | (92,918) |
(Loss) profit from attributable to: | |||
Owners of the Company | (206,257) | (1,304,676) | (85,716) |
Non-controlling interest | (40) | (10,075) | (7,202) |
Profit (loss) for the period | (206,297) | (1,314,751) | (92,918) |
Operating segments [member] | Engineering and Construction [member] | |||
Disclosure of detailed information about operating segment performance [line items] | |||
Revenue | 2,092,592 | 2,797,326 | 1,960,863 |
Gross profit (loss) | 115,995 | 98,362 | 62,095 |
Administrative expenses | (102,985) | (141,421) | (136,066) |
Other income and expenses, net | (43,573) | 9,937 | (13,508) |
Loss from the sale of investments | (7) | ||
Operating (loss) profit | (30,563) | (33,122) | (87,486) |
Financial expenses | (54,173) | (74,171) | (82,861) |
Financial income | 8,792 | 5,644 | 15,122 |
Share of profit or loss in associates and joint ventures | (3,558) | 11,366 | |
Profit (loss) before income tax | (75,944) | (105,207) | (143,859) |
Income tax expense | (3,614) | (35,457) | 14,361 |
(Loss) profit from continuing operations | (129,498) | ||
Profit (loss) from discontinued operations | 44,096 | ||
Profit (loss) for the year | (79,558) | (140,664) | (85,402) |
(Loss) profit from attributable to: | |||
Owners of the Company | (76,580) | (137,109) | (86,857) |
Non-controlling interest | (2,978) | (3,555) | 1,455 |
Profit (loss) for the period | (79,558) | (140,664) | (85,402) |
Operating segments [member] | Energy infrastructure [member] | |||
Disclosure of detailed information about operating segment performance [line items] | |||
Revenue | 369,798 | 552,584 | 560,506 |
Gross profit (loss) | 53,251 | 108,291 | 120,360 |
Administrative expenses | (16,119) | (24,230) | (20,898) |
Other income and expenses, net | (4,185) | 606 | 1,243 |
Operating (loss) profit | 32,947 | 84,667 | 100,705 |
Financial expenses | (17,525) | (13,266) | (15,631) |
Financial income | 2,239 | 2,033 | 4,593 |
Share of profit or loss in associates and joint ventures | 2,391 | 2,293 | 1,608 |
Profit (loss) before income tax | 20,052 | 75,727 | 91,275 |
Income tax expense | (7,500) | (22,911) | (26,275) |
(Loss) profit from continuing operations | 65,000 | ||
Profit (loss) for the year | 12,552 | 52,816 | 65,000 |
(Loss) profit from attributable to: | |||
Owners of the Company | 9,176 | 48,056 | 59,866 |
Non-controlling interest | 3,376 | 4,760 | 5,134 |
Profit (loss) for the period | 12,552 | 52,816 | 65,000 |
Operating segments [member] | Toll roads infrastructure [member] | |||
Disclosure of detailed information about operating segment performance [line items] | |||
Revenue | 466,824 | 633,301 | 733,148 |
Gross profit (loss) | 40,858 | 96,164 | 107,092 |
Administrative expenses | (16,584) | (28,623) | (35,626) |
Other income and expenses, net | (79,576) | (47,998) | (11) |
Operating (loss) profit | (55,302) | 19,543 | 71,455 |
Financial expenses | (32,376) | (27,297) | (26,691) |
Financial income | 4,326 | 2,245 | 2,560 |
Profit (loss) before income tax | (83,352) | (5,509) | 47,324 |
Income tax expense | (13,477) | (17,112) | (15,737) |
(Loss) profit from continuing operations | 31,587 | ||
Profit (loss) for the year | (96,829) | (22,621) | 31,587 |
(Loss) profit from attributable to: | |||
Owners of the Company | (88,865) | (28,270) | 26,732 |
Non-controlling interest | (7,964) | 5,649 | 4,855 |
Profit (loss) for the period | (96,829) | (22,621) | 31,587 |
Operating segments [member] | Transportation infrastructure [member] | |||
Disclosure of detailed information about operating segment performance [line items] | |||
Revenue | 345,258 | 397,853 | 586,329 |
Gross profit (loss) | 107,918 | 119,464 | 122,567 |
Administrative expenses | (12,738) | (17,991) | (12,007) |
Other income and expenses, net | 72 | (2,661) | 31 |
Operating (loss) profit | 95,252 | 98,812 | 110,591 |
Financial expenses | (9,316) | (10,948) | (20,604) |
Financial income | 1,586 | 33,214 | 35,147 |
Profit (loss) before income tax | 87,522 | 121,078 | 125,134 |
Income tax expense | (26,681) | (39,634) | (38,017) |
(Loss) profit from continuing operations | 87,117 | ||
Profit (loss) for the year | 60,841 | 81,444 | 87,117 |
(Loss) profit from attributable to: | |||
Owners of the Company | 45,631 | 61,084 | 65,338 |
Non-controlling interest | 15,210 | 20,360 | 21,779 |
Profit (loss) for the period | 60,841 | 81,444 | 87,117 |
Operating segments [member] | Water treatment infrastructure [member] | |||
Disclosure of detailed information about operating segment performance [line items] | |||
Revenue | 3,359 | 3,555 | 3,270 |
Gross profit (loss) | 366 | 500 | 592 |
Administrative expenses | (289) | (397) | (296) |
Other income and expenses, net | 42 | 12 | |
Operating (loss) profit | 119 | 115 | 296 |
Financial expenses | (275) | (12) | 6 |
Financial income | 897 | 826 | 554 |
Profit (loss) before income tax | 741 | 929 | 856 |
Income tax expense | (277) | (506) | (517) |
(Loss) profit from continuing operations | 339 | ||
Profit (loss) for the year | 464 | 423 | 339 |
(Loss) profit from attributable to: | |||
Owners of the Company | 464 | 423 | 339 |
Profit (loss) for the period | 464 | 423 | 339 |
Operating segments [member] | Real estate [member] | |||
Disclosure of detailed information about operating segment performance [line items] | |||
Revenue | 182,439 | 264,401 | 630,130 |
Gross profit (loss) | 40,345 | 70,787 | 287,959 |
Administrative expenses | (16,462) | (22,045) | (50,730) |
Other income and expenses, net | 1,962 | 20,020 | (1,971) |
Operating (loss) profit | 25,845 | 68,762 | 235,258 |
Financial expenses | (12,647) | (42,320) | (11,859) |
Financial income | 4,584 | 3,829 | 3,556 |
Share of profit or loss in associates and joint ventures | 34 | 458 | (10) |
Profit (loss) before income tax | 17,816 | 30,729 | 226,945 |
Income tax expense | (2,854) | (7,000) | (69,166) |
(Loss) profit from continuing operations | 157,779 | ||
Profit (loss) for the year | 14,962 | 23,729 | 157,779 |
(Loss) profit from attributable to: | |||
Owners of the Company | 1,391 | (4,995) | 28,921 |
Non-controlling interest | 13,571 | 28,724 | 128,858 |
Profit (loss) for the period | S/ 14,962 | S/ 23,729 | S/ 157,779 |
Segment Reporting - Disclosur_5
Segment Reporting - Disclosure of Detailed Information About Segments by Geographical Area (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of geographical areas [line items] | |||
Revenue | S/ 3,314,029 | S/ 4,337,861 | S/ 4,202,398 |
Non-current assets | 3,286,955 | 3,424,693 | 4,310,507 |
Peru [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 2,517,928 | 3,496,799 | 3,348,824 |
Non-current assets | 2,933,742 | 3,065,132 | 4,009,849 |
Chile [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 642,038 | 599,301 | 528,543 |
Non-current assets | 245,727 | 235,803 | 142,819 |
Colombia [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 151,876 | 241,761 | 325,031 |
Non-current assets | 107,486 | S/ 123,758 | S/ 157,839 |
Mexico [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | S/ 2,187 |
Financial Instruments - Summary
Financial Instruments - Summary of Financial Assets and Liabilities by Category (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | |||
Cash and cash equivalents | S/ 900,168 | S/ 950,701 | S/ 807,214 |
Accounts receivable from related parties | 27,338 | 36,658 | |
Lease liability for right-of-use asset | 72,726 | 92,870 | |
Bonds | 932,759 | 924,042 | |
Financial liabilities | 1,831,079 | 1,814,637 | |
Financial liabilities at amortised cost, category [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Other financial liabilities | 773,203 | 774,075 | |
Finance leases | 52,391 | 23,650 | |
Lease liability for right-of-use asset | 72,726 | 92,870 | |
Bonds | 932,759 | 924,042 | |
Trade and other accounts payable (excluding non-financial liabilities) | 1,447,515 | 1,467,283 | |
Accounts payable to related parties | 80,115 | 61,499 | |
Financial liabilities | 3,358,709 | 3,343,419 | |
Financial liabilities hedging derivatives [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | 52 | ||
Loans and receivables, category [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Cash and cash equivalents | 900,168 | 950,701 | |
Trade accounts receivable and other accounts receivable (excluding financial assets) | 1,178,577 | 1,358,282 | |
Financial assets related to concession agreements | 775,677 | 748,365 | |
Accounts receivable from related parties | 647,409 | 611,381 | |
Available-for-sale financial asset | S/ 3,501,831 | S/ 3,668,729 |
Financial Instruments - Summa_2
Financial Instruments - Summary of Credit Quality of Financial Assets (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | S/ 900,168 | S/ 950,701 | S/ 807,214 |
Financial assets neither past due nor impaired [member] | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 896,832 | 943,714 | |
Financial assets neither past due nor impaired [member] | Banco de Crdito del Peru [member] | A + [member] | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 351,515 | 303,193 | |
Financial assets neither past due nor impaired [member] | Banco Continental [member] | A + [member] | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 147,868 | 186,239 | |
Financial assets neither past due nor impaired [member] | Citibank [member] | A + [member] | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 128,100 | 183,723 | |
Financial assets neither past due nor impaired [member] | Banco Santander - Peru [member] | A + [member] | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 54,478 | 114 | |
Financial assets neither past due nor impaired [member] | Banco Scotiabank [member] | A + [member] | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 52,448 | 64,106 | |
Financial assets neither past due nor impaired [member] | Banco Interbank [member] | A- [member] | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 22,882 | 56,114 | |
Financial assets neither past due nor impaired [member] | Banco Interbank [member] | (A) [Member] | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 45,808 | 41,718 | |
Financial assets neither past due nor impaired [member] | Fondo de Inversion Alianza [member] | AA + [member] | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 21,247 | 46 | |
Financial assets neither past due nor impaired [member] | Santander colombia [member] | A- [member] | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 18,256 | 15,183 | |
Financial assets neither past due nor impaired [member] | Banco Scotiabank - Chile [member] | AAA [member] | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 2,114 | 9,801 | |
Financial assets neither past due nor impaired [member] | Banco Bogota [member] | (BBB-) | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 12,194 | 7,255 | |
Financial assets neither past due nor impaired [member] | Banco de Crdito e Inversiones-Chile [member] | A- [member] | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 8,579 | 1,407 | |
Financial assets neither past due nor impaired [member] | Bancolombia [Member] | (BBB-) | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 8,516 | 115 | |
Financial assets neither past due nor impaired [member] | Banco Santander - Chile [member] | AAA [member] | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 17,174 | 5,833 | |
Financial assets neither past due nor impaired [member] | Credicorp capital colombia [member] | AAA [member] | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 44,338 | ||
Financial assets neither past due nor impaired [member] | JP Morgan [member] | A + [member] | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | 17,853 | ||
Financial assets neither past due nor impaired [member] | Others [member] | |||
Disclosure of financial assets [line items] | |||
Cash and cash equivalents | S/ 5,653 | S/ 6,676 |
Financial Instruments - Summa_3
Financial Instruments - Summary of Credit Quality of Customers (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Trade receivables [member] | ||
Disclosure of internal credit grades [line items] | ||
Credit exposure | S/ 1,433,833 | S/ 1,693,813 |
Trade receivables [member] | New customers/related parties (less than 6 months) [member] | ||
Disclosure of internal credit grades [line items] | ||
Credit exposure | 40,034 | 58,442 |
Trade receivables [member] | Existing customers/related parties (with more than 6 months of trade relationship) with no previous default history [member] | ||
Disclosure of internal credit grades [line items] | ||
Credit exposure | 1,275,523 | 1,492,446 |
Trade receivables [member] | Existing customers/related parties (with more than 6 months of trade relationship) with previous default history [member] | ||
Disclosure of internal credit grades [line items] | ||
Credit exposure | 118,276 | 142,925 |
Receivable from related parties [member] | Existing customers/related parties (with more than 6 months of trade relationship) with no previous default history [member] | ||
Disclosure of internal credit grades [line items] | ||
Credit exposure | S/ 647,409 | S/ 611,381 |
Cash and Cash Equivalent- Summa
Cash and Cash Equivalent- Summary of Cash and Cash Equivalents (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Cash And Cash Equivalents [abstract] | |||
Cash on hand | S/ 996 | S/ 1,323 | |
Remittances in-transit | 2,340 | 5,664 | |
Bank accounts | 300,552 | 225,101 | |
Escrow account | 471,339 | 507,982 | |
Deposits in financial institutions | 95,265 | 210,631 | |
Total | S/ 900,168 | S/ 950,701 | S/ 807,214 |
Cash and Cash Equivalent - Summ
Cash and Cash Equivalent - Summary of Cash and Cash Equivalents (Parenthetical) (Detail) - PEN (S/) S/ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Norvial S.A. [member] | ||
Disclosure of cash and cash equivalents [line items] | ||
Reserve fund for bond payments | S/ 28 | S/ 18 |
Tren Urbano de Lima S.A.[member] | ||
Disclosure of cash and cash equivalents [line items] | ||
Reserve fund for bond payments | S/ 125 | S/ 181 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of detailed about cash and cash equivalents (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of cash and cash equivalents [line items] | ||
Escrow account | S/ 471,339 | S/ 507,982 |
Reserve funds issued bonds [member] | ||
Disclosure of cash and cash equivalents [line items] | ||
Escrow account | 153,075 | 199,192 |
Real estate projects [member] | ||
Disclosure of cash and cash equivalents [line items] | ||
Escrow account | 35,273 | 31,794 |
Engineering and construction projects [member] | ||
Disclosure of cash and cash equivalents [line items] | ||
Escrow account | 233,955 | 192,069 |
Infrastructure projects [member] | ||
Disclosure of cash and cash equivalents [line items] | ||
Escrow account | S/ 49,036 | S/ 84,927 |
Cash and Cash Equivalents - S_2
Cash and Cash Equivalents - Summary of Disclosure of Savings Account (Detail) - Cumbra Peru SA [Member] - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of Savings Account [line Items] | ||
Short-term investments, classified as cash equivalents | S/ 29,676 | S/ 44,457 |
Credicorp Capital Colombia SA [member] | ||
Disclosure of Savings Account [line Items] | ||
Short-term investments, classified as cash equivalents | 151 | 7,588 |
Bancolombia S.A.[member] | ||
Disclosure of Savings Account [line Items] | ||
Short-term investments, classified as cash equivalents | 29,439 | 36,751 |
Banco de Bogota S.A.[member] | ||
Disclosure of Savings Account [line Items] | ||
Short-term investments, classified as cash equivalents | 37 | 72 |
Alianza Fiduciaria S.A.[member] | ||
Disclosure of Savings Account [line Items] | ||
Short-term investments, classified as cash equivalents | S/ 49 | S/ 46 |
Cash and Cash Equivalents - S_3
Cash and Cash Equivalents - Summary of Disclosure of Savings Account (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Savings Account [Line Items] | |
Time deposit maturity period | 90 days |
Bottom of range [member] | |
Disclosure Of Savings Account [Line Items] | |
Time deposit interest rate | 0.15% |
Top of range [member] | |
Disclosure Of Savings Account [Line Items] | |
Time deposit interest rate | 2.70% |
Cash and Cash Equivalents - S_4
Cash and Cash Equivalents - Summary of Time Deposits from Subsidiaries (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Time Deposits [line items] | ||
Time deposits | S/ 95,265 | S/ 210,631 |
Banco de Credito del Peru S.A. [member] | Tren Urbano de Lima S.A.[member] | ||
Time Deposits [line items] | ||
Time deposits | S/ 65,000 | 32,300 |
Time deposit interest rate | 2.70% | |
Banco de Credito del Peru S.A. [member] | Norvial S.A. [member] | ||
Time Deposits [line items] | ||
Time deposits | S/ 7,429 | 4,763 |
Time deposit interest rate | 0.25% | |
Banco de Credito del Peru S.A. [member] | AENZA S.A.A.[member] | ||
Time Deposits [line items] | ||
Time deposits | S/ 6,500 | 5,312 |
Time deposit interest rate | 2.40% | |
Banco de Credito del Peru S.A. [member] | Survial S.A. [member] | ||
Time Deposits [line items] | ||
Time deposits | S/ 4,800 | 15,400 |
Time deposit interest rate | 0.15% | |
Banco de Credito del Peru S.A. [member] | Concesion Canchaque S.A.C. [Member] | ||
Time Deposits [line items] | ||
Time deposits | S/ 4,381 | 662 |
Time deposit interest rate | 0.25% | |
Banco de Credito del Peru S.A. [member] | UNNA Energia S.A. [member] | ||
Time Deposits [line items] | ||
Time deposits | S/ 905 | |
Time deposit interest rate | 0.50% | |
Banco de Credito del Peru S.A. [member] | Cumbra Peru S.A [member] | ||
Time Deposits [line items] | ||
Time deposits | 28,213 | |
Banco de Credito del Peru S.A. [member] | Cumbra Ingenieria S.A. [member] | ||
Time Deposits [line items] | ||
Time deposits | 9,993 | |
BBVA Banco Continental S.A [member] | Tren Urbano de Lima S.A.[member] | ||
Time Deposits [line items] | ||
Time deposits | S/ 69,531 | |
BBVA Banco Continental S.A [member] | Concesionaria La Chira S.A. [member] | ||
Time Deposits [line items] | ||
Time deposits | S/ 6,250 | |
Time deposit interest rate | 1.65% |
Cash and Cash Equivalent- Sum_2
Cash and Cash Equivalent- Summary of Reconcile to the Amount of Cash Shown in the Statement of Cash Flow (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Cash And Cash Equivalents [abstract] | ||||
Cash and cash equivalent on consolidated statement of financial position | S/ 900,168 | S/ 950,701 | S/ 807,214 | |
Bank overdrafts | (119) | |||
Balances per consolidated statement of cash flows | S/ 900,168 | S/ 950,701 | S/ 807,095 | S/ 626,060 |
Trade Accounts Receivables, N_3
Trade Accounts Receivables, Net - Summary of Trade Accounts Receivables (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable, Current | S/ 703,167 | S/ 914,204 |
Trade accounts receivable, Non-current | 730,666 | 779,609 |
Trade receivables [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade receivables | 1,433,833 | 1,693,813 |
Trade accounts receivable, Current | 703,167 | 914,204 |
Trade accounts receivable, Non-current | 730,666 | 779,609 |
Receivables [Member] | Trade receivables [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade receivables | 753,693 | 959,151 |
Trade accounts receivable, Current | 254,587 | 415,970 |
Trade accounts receivable, Non-current | 499,106 | 543,181 |
Unbilled Receivables Subsidiaries [Member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade receivables | 413,364 | 499,974 |
Unbilled Receivables Subsidiaries [Member] | Trade receivables [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade receivables | 413,364 | 499,974 |
Trade accounts receivable, Current | 337,244 | 387,998 |
Trade accounts receivable, Non-current | 76,120 | 111,976 |
Unbilled Receivables Concessions [Member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade receivables | 266,776 | 234,688 |
Unbilled Receivables Concessions [Member] | Trade receivables [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade receivables | 266,776 | 234,688 |
Trade accounts receivable, Current | 111,336 | 110,236 |
Trade accounts receivable, Non-current | S/ 155,440 | S/ 124,452 |
Trade Accounts Receivables, N_4
Trade Accounts Receivables, Net - Additional Information (Detail) - PEN (S/) S/ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Tren Urbano de Lima S.A.[member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | S/ 743.8 | S/ 716.1 |
Contractual right | 590.1 | 579.8 |
Cumbra Peru S.A [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 435.8 | 575.5 |
Adexus S.A.[member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 91.7 | 118.9 |
Cumbra Ingenieria S.A. [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 43.2 | 53.3 |
Viva Negocio Inmobiliario S.A. [Member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 40.2 | 83.6 |
UNNA Energia S.A. [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 37.6 | 63.4 |
Others [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | S/ 41.5 | S/ 83.0 |
Trade Accounts Receivables, N_5
Trade Accounts Receivables, Net - Summary of Aging of Trade Accounts Receivable (Detail) - Gross carrying amount [member] - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Trade accounts receivable | S/ 753,693 | S/ 959,151 |
Current [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Trade accounts receivable | 718,220 | 817,233 |
Not later than one month [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Trade accounts receivable | 5,737 | 45,922 |
Later than one month and not later than three months [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Trade accounts receivable | 6,801 | 27,364 |
Later than three months and not later than four months [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Trade accounts receivable | 2,279 | 1,319 |
Later Than Four Month And Not Later One Year [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Trade accounts receivable | 4,185 | 10,502 |
Later than one year [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Trade accounts receivable | S/ 16,471 | S/ 56,811 |
Trade Accounts Receivables, N_6
Trade Accounts Receivables, Net - Schedule of Current and Non-Current Unbilled Receivables (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Accounts Receivable [line items] | ||
Unbilled receivables | S/ 413,364 | S/ 499,974 |
Cumbra Peru S.A. [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Unbilled receivables | 315,878 | 384,660 |
Concar S.A. [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Unbilled receivables | 6,298 | 10,737 |
Cucumbra Ingenieria S.A. [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Unbilled receivables | 25,823 | 24,787 |
UNNA Energia S.A. [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Unbilled receivables | 1,512 | 1,657 |
Adexus S.A.[member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Unbilled receivables | S/ 63,853 | S/ 78,133 |
Trade Accounts Receivables, N_7
Trade Accounts Receivables, Net - Summary of Unbilled Receivables by Subsidiaries Grouped by Main Projects (Detail) - Unbilled Receivables Subsidiaries [Member] - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | S/ 413,364 | S/ 499,974 |
Infrastructure [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 7,810 | 12,395 |
Infrastructure [member] | Operation and maintenance of roads [Member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 4,167 | 9,837 |
Infrastructure [member] | Oil Services [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 1,512 | 1,657 |
Infrastructure [member] | Others [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 2,131 | 901 |
Engineering and Construction [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 341,701 | 409,446 |
Engineering and Construction [member] | Parent company operations [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 63,853 | 78,133 |
Engineering and Construction [member] | Others [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 87,749 | 16,608 |
Engineering and Construction [member] | Talara Refinery [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 70,329 | 190,831 |
Engineering and Construction [member] | Civil works, assembly and electromechanics - Acero Arequipa [Member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 1,357 | 16,449 |
Engineering and Construction [member] | Project Mina Gold Fields La Cima S.A. [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 15,055 | 3,409 |
Engineering and Construction [member] | Generating Plant Machu Picchu [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 15,653 | 13,098 |
Engineering and Construction [member] | Project Quellaveco [Member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 84,014 | 52,488 |
Engineering and Construction [member] | Project Mina Justa [Member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 1,743 | 26,658 |
Engineering and Construction [member] | Works and Consortiums [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 6,576 | 11,311 |
Engineering and Construction [member] | Engineering and Construction Works VyV-DSD S.A. [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 43,159 | 38,194 |
Engineering and Construction [member] | Engineering and Construction Works - Morelco S.A.S. [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | S/ 16,066 | S/ 40,400 |
Trade Accounts Receivables, N_8
Trade Accounts Receivables, Net - Summary of Unbilled Receivables Concessions Corresponds to Future Collections for Public Services Granted According (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Tren Urbano de Lima S.A. [Member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | S/ 743,800 | S/ 716,100 |
Unbilled Receivables Concessions [Member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 266,776 | 234,688 |
Unbilled Receivables Concessions [Member] | Tren Urbano de Lima S.A. [Member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 235,763 | 208,205 |
Unbilled Receivables Concessions [Member] | Survial S.A. [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 10,611 | 16,466 |
Unbilled Receivables Concessions [Member] | Norvial S.A. [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 15,436 | 2,149 |
Unbilled Receivables Concessions [Member] | Concesin Canchaque S.A. [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | 4,401 | 6,700 |
Unbilled Receivables Concessions [Member] | Concesionaria Vía Expresa Sur S.A. [member] | ||
Disclosure Of Accounts Receivable [line items] | ||
Trade accounts receivable | S/ 565 | S/ 1,168 |
Trade Accounts Receivables, N_9
Trade Accounts Receivables, Net - Summary Of Unbilled Receivables At Fair Values And Carrying Amount Explanatory (Detail) - Unbilled Receivables Concessions [Member] - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Statement [line items] | ||
Carrying amount | S/ 590,092 | S/ 579,765 |
Fair value | 783,643 | 696,665 |
Tren Urbano de Lima S.A.[member] | ||
Statement [line items] | ||
Carrying amount | 590,092 | 579,765 |
Fair value | S/ 783,643 | S/ 696,665 |
Trade Accounts Receivables, _10
Trade Accounts Receivables, Net - Summary Of Unbilled Receivables At Fair Values And Carrying Amount Explanatory (Parenthetical) (Detail) | Dec. 31, 2020 |
Unbilled Receivables Concessions [Member] | |
Statement [line items] | |
Accrued Interest Rate On Unbilled Receivables | 7.70% |
Trade Accounts Receivables, _11
Trade Accounts Receivables, Net - Summary Of Reconcilaition Of Impairment Loss In Trade Accounts Receivable Explanatory (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement [line items] | |||
Impairment, net (Note 26.ii) | S/ (32,219) | S/ (8,183) | S/ (65,076) |
Impairment, net (Note 28.b) | 103,074 | 339,774 | |
Trade receivables [member] | |||
Statement [line items] | |||
Balance at January, 1 | 8,422 | 7,633 | 17,227 |
Impairment, net (Note 26.ii) | (19,772) | (955) | (3,065) |
Impairment, net (Note 28.b) | (33,874) | ||
Write-off | 5,653 | 12 | 12,873 |
Exchange difference | (212) | 37 | (214) |
Translation adjustments | (3) | 117 | |
Balance at December, 31 | S/ 56,630 | S/ 8,422 | S/ 7,633 |
Work in Progress, Net - Summary
Work in Progress, Net - Summary of Unbilled Work in Progress (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Unbilled Work In Progress [Line items] | ||
Current, Work in Progress, net | S/ 186,433 | S/ 49,457 |
Non-current, Work in Progress, net | 23,117 | |
Total | 186,433 | 72,574 |
Unbilled receivable concessions in progress [member] | ||
Disclosure Of Unbilled Work In Progress [Line items] | ||
Non-current, Work in Progress, net | 23,117 | |
Total | 23,117 | |
Work in Progress [Member] | ||
Disclosure Of Unbilled Work In Progress [Line items] | ||
Current, Work in Progress, net | 186,433 | 49,457 |
Total | S/ 186,433 | S/ 49,457 |
Work in Progress, Net - Summa_2
Work in Progress, Net - Summary of Work in Progress Grouped by Main Projects (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule Of Work In Progress [Line Items] | ||
Unbilled WorkIn Progress | S/ 186,433 | S/ 72,574 |
Infrastructure [member] | ||
Schedule Of Work In Progress [Line Items] | ||
Unbilled WorkIn Progress | 23,117 | |
Infrastructure [member] | Road Operation And Maintenance [member] | ||
Schedule Of Work In Progress [Line Items] | ||
Unbilled WorkIn Progress | 23,117 | |
Engineering and construction [member] | ||
Schedule Of Work In Progress [Line Items] | ||
Unbilled WorkIn Progress | 186,433 | 49,457 |
Engineering and construction [member] | Road Operation And Maintenance [member] | ||
Schedule Of Work In Progress [Line Items] | ||
Unbilled WorkIn Progress | 97,561 | 19,531 |
Engineering and construction [member] | Talara Refinery [member] | ||
Schedule Of Work In Progress [Line Items] | ||
Unbilled WorkIn Progress | 15,468 | 20,126 |
Engineering and construction [member] | North Concentrator Plant - Quellaveco [member] | ||
Schedule Of Work In Progress [Line Items] | ||
Unbilled WorkIn Progress | 50,216 | 1,033 |
Engineering and construction [member] | Ground transport tunnel of Quellaveco [member] | ||
Schedule Of Work In Progress [Line Items] | ||
Unbilled WorkIn Progress | 18,485 | |
Engineering and construction [member] | Others [member] | ||
Schedule Of Work In Progress [Line Items] | ||
Unbilled WorkIn Progress | S/ 4,703 | S/ 8,767 |
Work in Progress, Net - Additio
Work in Progress, Net - Additional Information (Detail) - PEN (S/) S/ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Vial y Vives - DSD S.A. [member] | Cumbra Peru S.A [member] | ||
Disclosure Of Unbilled Work In Progress [Line items] | ||
Expenses incurred by the company under construction contracts | S/ 171.0 | S/ 29.6 |
Cumbra Ingenieria S.A. [member] | ||
Disclosure Of Unbilled Work In Progress [Line items] | ||
Expenses incurred by the company under construction contracts | S/ 15.5 | S/ 19.9 |
Transactions with Related Par_3
Transactions with Related Parties and Joint Operators - Disclosure of Transactions Between Related Parties (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of transactions between related parties [line items] | |||
Revenue from sales of goods and services | S/ 15,908 | S/ 44,238 | S/ 58,264 |
Purchase of goods and services | 1,225 | 1,765 | 2,731 |
Associates [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from sales of goods and services | 5 | 108 | 1,704 |
Purchase of goods and services | 1,225 | 2,130 | |
Joint operations [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from sales of goods and services | S/ 15,903 | 44,130 | 56,560 |
Purchase of goods and services | S/ 1,765 | S/ 601 |
Transactions with Related Par_4
Transactions with Related Parties and Joint Operators - Additional Information (Detail) S/ in Thousands, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2019PEN (S/) | Dec. 31, 2019USD ($) | Dec. 31, 2018PEN (S/) | |
Disclosure of transactions between related parties [line items] | |||||
Key management personnel compensation | S/ 64,500 | S/ 87,400 | S/ 58,000 | ||
Accounts receivable from related parties | 620,071 | 574,723 | |||
Gaseoducto Sur Peruano SA [member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Accounts receivable from related parties | 333,000 | ||||
Discounted Value | $ 12 | S/ 57,000 | $ 17.8 | ||
Gasoducto Sur Peruano [member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Accounts receivable from related parties | S/ 364,000 | ||||
Discount rate | 1.60% | 3.46% | |||
Discounted Value | S/ 44,000 | ||||
Consorcio Constructor Ductos del Sur [member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Accounts receivable from related parties | 267,000 | S/ 270,000 | |||
Lost profits | 32,000 | 28,000 | |||
Discontinued operations [member] | Consorcio Constructor Ductos del Sur [member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Accounts receivable from related parties | S/ 299,000 | S/ 298,000 |
Transactions with Related Par_5
Transactions with Related Parties and Joint Operators - Summary of Sale Purchase of Goods Services (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | S/ 27,338 | S/ 36,658 |
Accounts payable to related parties | 43,818 | 38,916 |
Long-term accounts receivable from related parties | 620,071 | 574,723 |
Long-term accounts payable to related parties | 36,297 | 22,583 |
Gasoducto Sur Peruano S.A. [member] | ||
Disclosure of transactions between related parties [line items] | ||
Long-term accounts receivable from related parties | 620,071 | 572,624 |
Peru Piping Spools S.A.C [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 1,960 | 2,632 |
Accounts payable to related parties | 2,677 | |
Ferrovias S.A. | ||
Disclosure of transactions between related parties [line items] | ||
Accounts payable to related parties | 11,139 | 12,183 |
Long-term accounts payable to related parties | 12,862 | |
Ferrovias Participaciones S.A. | ||
Disclosure of transactions between related parties [line items] | ||
Long-term accounts payable to related parties | 23,435 | 22,583 |
Consorcio Rio Urubamba [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 9,357 | 9,042 |
Consorcio Peruano de Conservacion [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 3,156 | 3,592 |
Consorcio Italo Peruano [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 1,520 | 1,011 |
Accounts payable to related parties | 217 | 363 |
Consorcio Constructor Chavimochic [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 0 | |
Accounts payable to related parties | 6,208 | 5,953 |
Consorcio GyM Conciviles [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 1,341 | 1,257 |
Accounts payable to related parties | 1,472 | 1,958 |
Consorcio La Gloria [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 69 | 1,750 |
Accounts payable to related parties | 113 | 1,017 |
Consorcio Ermitano [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 890 | 831 |
Accounts payable to related parties | 474 | 440 |
Terminales del Peru [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 501 | 1,176 |
Accounts payable to related parties | 161 | |
Consorcio TNT Vial y Vives - DSD Chile LTDA [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts payable to related parties | 1,015 | 1,088 |
Consorcio Rio Mantaro [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts payable to related parties | 7,655 | 5,869 |
Consorcio Vial Quinua [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts payable to related parties | 2,051 | 2,048 |
Consorcio Huacho Pativilca [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 4 | 1,419 |
Accounts payable to related parties | 85 | 5,895 |
Consorcio CDEM [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 1,111 | 638 |
Consorcio GyM-Stracon [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 2,230 | |
Accounts payable to related parties | 644 | |
Consorcio GyM-OSSA [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 7,202 | |
Consorcio Chicama Ascope [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 2,922 | 2,471 |
Joint operations [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 25,378 | 34,026 |
Accounts payable to related parties | 30,002 | 26,733 |
Other related parties [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 1,960 | 2,632 |
Accounts payable to related parties | 13,816 | 12,183 |
Consorcio Inti Punku [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 0 | |
Accounts payable to related parties | 6,556 | |
Consorcio Manperan [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 1,057 | |
Accounts payable to related parties | 656 | |
Consorcio Norte Pachacutec [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 1,077 | |
Accounts payable to related parties | 1,192 | |
Other minors [member] | ||
Disclosure of transactions between related parties [line items] | ||
Accounts receivable from related parties | 2,373 | 1,407 |
Accounts payable to related parties | S/ 1,503 | 2,102 |
Long-term accounts receivable from related parties | S/ 2,099 |
Other Accounts Receivable - Sch
Other Accounts Receivable - Schedule of Other Accounts Receivable (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Total | ||||
Receivables from taxes other than income tax | S/ 48,054 | S/ 71,541 | ||
Value added tax receivables | 54,076 | 47,167 | ||
Claims To Third Parties | 212,565 | 83,054 | ||
Other receivables | 433,531 | 454,474 | ||
Current | ||||
Advances to suppliers | 76,200 | 135,481 | ||
Income tax on-account payments | 48,052 | 71,541 | ||
VAT credit | 43,498 | 32,903 | ||
Guarantee deposits | 23,744 | 16,445 | ||
Claims to third parties Current | 108,748 | 38,874 | ||
Other current receivables | 433,531 | 454,474 | ||
Non-current | ||||
Income tax on-account payments | 2 | |||
VAT credit | 10,578 | 14,264 | ||
Other non-current receivables | 328,223 | 273,432 | ||
Others [member] | ||||
Current | ||||
Guarantee deposits | 23,235 | 13,483 | ||
Non-current | ||||
Guarantee deposits | 3,299 | 3,915 | ||
Cumbra Peru S.A. [member] | ||||
Total | ||||
Receivables from taxes other than income tax | 35,599 | 45,628 | ||
Value added tax receivables | 12,868 | 12,963 | ||
Current | ||||
Income tax on-account payments | 35,599 | 45,628 | ||
VAT credit | 12,868 | 12,963 | ||
Gross carrying amount [member] | ||||
Total | ||||
Advances To Suppliers | 76,200 | 135,481 | ||
Receivables from taxes other than income tax | 48,054 | 71,541 | ||
Value added tax receivables | 54,076 | 47,167 | ||
Deposits Not Classified As Cash Equivalents | 217,441 | 189,210 | ||
Claims To Third Parties | 212,565 | 83,054 | ||
Taxes Receivable | 63,003 | 60,883 | ||
Restricted cash and cash equivalents | 29,121 | 16,523 | ||
Receivables From Personnel | 10,957 | 2,940 | ||
Other receivables | 863,804 | 758,604 | ||
Current | ||||
Advances to suppliers | 76,200 | 135,481 | ||
Income tax on-account payments | 48,052 | 71,541 | ||
VAT credit | 43,498 | 32,903 | ||
Guarantee deposits | 156,123 | 104,965 | ||
Claims to third parties Current | 108,748 | 38,874 | ||
Taxes receivable | 30,468 | 30,233 | ||
Restricted funds | 2,092 | 1,522 | ||
Accounts receivable from personnel | 10,957 | 2,940 | ||
Other current receivables | 532,157 | 481,889 | ||
Non-current | ||||
VAT credit | 10,578 | 14,264 | ||
Guarantee deposits | 61,318 | 84,245 | ||
Claims to third parties | 103,817 | 44,180 | ||
Taxes receivable | 32,535 | 30,650 | ||
Restricted funds | 27,029 | 15,001 | ||
Other non-current receivables | 331,647 | 276,715 | ||
Gross carrying amount [member] | Petroleos Del Peru S. A. Petroperu S.A. [member] | ||||
Total | ||||
Claims To Third Parties | 87,826 | 80,942 | ||
Current | ||||
Claims to third parties Current | 17,132 | 17,293 | ||
Non-current | ||||
Claims to third parties | 70,694 | 63,649 | ||
Gross carrying amount [member] | Consorcio Panorama [member] | ||||
Total | ||||
Claims To Third Parties | 25,026 | 23,491 | ||
Non-current | ||||
Claims to third parties | 25,026 | 23,491 | ||
Gross carrying amount [member] | Others [member] | ||||
Total | ||||
Other Minors Receivable | 10,386 | 16,574 | ||
Current | ||||
Other minors, Current | 9,738 | 15,339 | ||
Non-current | ||||
Other Minor Non Current Receivables | 648 | 1,235 | ||
Gross carrying amount [member] | Cumbra Peru S.A. [member] | ||||
Total | ||||
Receivables From Rental And Sale Of Properties | 29,149 | 30,798 | ||
Current | ||||
Rental and sale of equipment | 29,149 | 30,798 | ||
Accumulated impairment [member] | ||||
Total | ||||
Other receivables | (102,050) | (30,698) | S/ (25,567) | S/ (1,398) |
Current | ||||
Other current receivables | (98,626) | (27,415) | ||
Non-current | ||||
Other non-current receivables | S/ (3,424) | S/ (3,283) |
Other Accounts Receivable - Add
Other Accounts Receivable - Additional Information (Detail) S/ in Millions, $ in Millions | Dec. 28, 2020USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2019PEN (S/) | Dec. 31, 2020USD ($) |
GDM SA [Member] | ||||
Other Accounts Receivable [line items] | ||||
Guarantee accounts for credit agreement | S/ 19.1 | |||
Guarantee Accounts For Reserve Account | S/ 7.7 | |||
Viva GyM S A [Member] | ||||
Other Accounts Receivable [line items] | ||||
Guarantee accounts for credit agreement | 0.9 | |||
Guarantee Accounts For Reserve Account | 0.9 | |||
Concesionaria La Chira S.A. [member] | ||||
Other Accounts Receivable [line items] | ||||
Guarantee Accounts For Reserve Account | 7.3 | 7.3 | ||
Tecnicas Reunidas Talara [Member] | ||||
Other Accounts Receivable [line items] | ||||
Claim Present Value | 53.6 | $ 14.8 | ||
CounterParty Litigation Claims Receivable For Breach Of Subcontract | $ | 81 | |||
Claim Face Value | 62.5 | 17.3 | ||
Tecnicas Reunidas Talara [Member] | Letter of Guarantee One [Member] | ||||
Other Accounts Receivable [line items] | ||||
Letter Of Guarantee For Performance Amount | $ | $ 16 | |||
Tecnicas Reunidas Talara [Member] | Letter of Guarantee Two [Member] | ||||
Other Accounts Receivable [line items] | ||||
Letter Of Guarantee For Advance Payment Amount | $ | $ 7.7 | |||
Municipalidad Metropolitana de Lima [Member] | ||||
Other Accounts Receivable [line items] | ||||
Reclassification Adjustments Of Net Intangible Assets | 21.8 | |||
Adjustments To Work in Progress Related To Concession Agreements | 23.4 | |||
Adjustments Of Impairment Loss Recognised In Profit Or Loss Trade Receivables | 49.6 | |||
Other Subsidiaries [member] | ||||
Other Accounts Receivable [line items] | ||||
Guarantee Accounts For Reserve Account | S/ 1.6 | S/ 0.5 | ||
Cumbra Peru S.A [member] | ||||
Other Accounts Receivable [line items] | ||||
Litigation Claim Receivable As Indemnification For Damages For Several Contractual Breaches | $ | $ 78 | |||
Bottom of range [member] | ||||
Other Accounts Receivable [line items] | ||||
Other Non-current accounts receivable maturities | 2 years | |||
Top of range [member] | ||||
Other Accounts Receivable [line items] | ||||
Other Non-current accounts receivable maturities | 5 years |
Other Accounts Receivable - S_2
Other Accounts Receivable - Schedule of Advances to Suppliers (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Other Accounts Receivable [line items] | ||
Current advances to suppliers | S/ 76,200 | S/ 135,481 |
Alsthom Transporte - Linea 1 [member] | ||
Other Accounts Receivable [line items] | ||
Current advances to suppliers | 5,786 | 2,597 |
Advances - joint operations vendors [member] | ||
Other Accounts Receivable [line items] | ||
Current advances to suppliers | 36,803 | 49,181 |
Others [member] | ||
Other Accounts Receivable [line items] | ||
Current advances to suppliers | 26,660 | 35,400 |
Advances – Refineria Talara [member] | ||
Other Accounts Receivable [line items] | ||
Current advances to suppliers | S/ 6,951 | S/ 48,303 |
Other Accounts Receivable - S_3
Other Accounts Receivable - Schedule of Income Tax Payments (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Other Accounts Receivable [line items] | ||
Current receivables from taxes other than income tax | S/ 48,052 | S/ 71,541 |
Non-current receivables from taxes other than income tax | 2 | |
Receivables from taxes other than income tax | 48,054 | 71,541 |
Cumbra Peru S.A. [member] | ||
Other Accounts Receivable [line items] | ||
Current receivables from taxes other than income tax | 35,599 | 45,628 |
Receivables from taxes other than income tax | 35,599 | 45,628 |
Cumbra Ingenieria S.A. [member] | ||
Other Accounts Receivable [line items] | ||
Current receivables from taxes other than income tax | 3,532 | 7,203 |
Receivables from taxes other than income tax | 3,532 | 7,203 |
UNNA ENERGIA S.A. S.A. | ||
Other Accounts Receivable [line items] | ||
Current receivables from taxes other than income tax | 1,883 | 2,400 |
Receivables from taxes other than income tax | 1,883 | 2,400 |
Concar S.A. [member] | ||
Other Accounts Receivable [line items] | ||
Current receivables from taxes other than income tax | 3,340 | 3,709 |
Receivables from taxes other than income tax | 3,340 | 3,709 |
Viva Negocio Inmobiliario S.A. [Member] | ||
Other Accounts Receivable [line items] | ||
Current receivables from taxes other than income tax | 1,351 | 3,485 |
Receivables from taxes other than income tax | 1,351 | 3,485 |
Norvial S.A. [member] | ||
Other Accounts Receivable [line items] | ||
Current receivables from taxes other than income tax | 5 | 4,266 |
Receivables from taxes other than income tax | 5 | 4,266 |
Survial S.A. [member] | ||
Other Accounts Receivable [line items] | ||
Current receivables from taxes other than income tax | 141 | 426 |
Receivables from taxes other than income tax | 141 | 426 |
Other [member] | ||
Other Accounts Receivable [line items] | ||
Current receivables from taxes other than income tax | 853 | 1,529 |
Non-current receivables from taxes other than income tax | 2 | |
Receivables from taxes other than income tax | 855 | 1,529 |
AENZA S.A.A.[member] | ||
Other Accounts Receivable [line items] | ||
Current receivables from taxes other than income tax | 1,348 | 2,895 |
Receivables from taxes other than income tax | S/ 1,348 | S/ 2,895 |
Other Accounts Receivable - S_4
Other Accounts Receivable - Schedule of Tax Credit Related to VAT on Subsidiaries (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Other Accounts Receivable [line items] | ||
Value added tax receivables | S/ 54,076 | S/ 47,167 |
Current value added tax receivables | 43,498 | 32,903 |
Non-current value added tax receivables | 10,578 | 14,264 |
Cumbra Peru S.A. [member] | ||
Other Accounts Receivable [line items] | ||
Value added tax receivables | 12,868 | 12,963 |
Current value added tax receivables | 12,868 | 12,963 |
Tren Urbano de Lima S.A.[member] | ||
Other Accounts Receivable [line items] | ||
Value added tax receivables | 3,335 | 11,970 |
Current value added tax receivables | 3,335 | 11,970 |
AENZA S.A.A.[member] | ||
Other Accounts Receivable [line items] | ||
Value added tax receivables | 648 | |
Current value added tax receivables | 648 | |
Concar S.A. [member] | ||
Other Accounts Receivable [line items] | ||
Value added tax receivables | 1,527 | 1,653 |
Current value added tax receivables | 1,527 | 1,653 |
Survial S.A. [member] | ||
Other Accounts Receivable [line items] | ||
Value added tax receivables | 2,631 | 1,817 |
Current value added tax receivables | 2,631 | 1,817 |
Cucumbra Ingenieria S.A. [member] | ||
Other Accounts Receivable [line items] | ||
Value added tax receivables | 13,754 | 1,513 |
Current value added tax receivables | 13,754 | 1,513 |
Viva Negocio Inmobiliario S.A. [Member] | ||
Other Accounts Receivable [line items] | ||
Value added tax receivables | 8,111 | 6,874 |
Current value added tax receivables | 953 | 513 |
Non-current value added tax receivables | 7,158 | 6,361 |
UNNA ENERGIA S.A. S.A. | ||
Other Accounts Receivable [line items] | ||
Value added tax receivables | 678 | 396 |
Current value added tax receivables | 678 | 396 |
Other [member] | ||
Other Accounts Receivable [line items] | ||
Value added tax receivables | 10,524 | 9,981 |
Current value added tax receivables | 7,104 | 2,078 |
Non-current value added tax receivables | S/ 3,420 | S/ 7,903 |
Other Accounts Receivable - S_5
Other Accounts Receivable - Schedule Of Guarantee Deposits (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Detailed Information About Guarantee Deposits [Line Items] | ||
Guarantee Deposits, Current | S/ 23,744 | S/ 16,445 |
Gross carrying amount [member] | ||
Disclosure Of Detailed Information About Guarantee Deposits [Line Items] | ||
Guarantee Deposits, Current | 156,123 | 104,965 |
Guarantee Deposits Current, Non current | 61,318 | 84,245 |
Guarantee Deposits | 217,441 | 189,210 |
Talara Refinery [member] | ||
Disclosure Of Detailed Information About Guarantee Deposits [Line Items] | ||
Guarantee Deposits, Current | 812 | 308 |
Guarantee Deposits Current, Non current | 58,019 | 55,259 |
Guarantee Deposits | 58,831 | 55,567 |
Retention Toquepala [Member] | ||
Disclosure Of Detailed Information About Guarantee Deposits [Line Items] | ||
Guarantee Deposits, Current | 19,630 | |
Guarantee Deposits | 19,630 | |
Retention Minera Teck [Member] | ||
Disclosure Of Detailed Information About Guarantee Deposits [Line Items] | ||
Guarantee Deposits, Current | 64,175 | 16,075 |
Guarantee Deposits | 64,175 | 16,075 |
Retention Quellaveco [Member] | ||
Disclosure Of Detailed Information About Guarantee Deposits [Line Items] | ||
Guarantee Deposits, Current | 23,699 | 15,926 |
Guarantee Deposits | 23,699 | 15,926 |
Joint Operations Retention [Member] | ||
Disclosure Of Detailed Information About Guarantee Deposits [Line Items] | ||
Guarantee Deposits, Current | 29,792 | 15,654 |
Guarantee Deposits Current, Non current | 13,921 | |
Guarantee Deposits | 29,792 | 29,575 |
Retention Morelco [Member] | ||
Disclosure Of Detailed Information About Guarantee Deposits [Line Items] | ||
Guarantee Deposits, Current | 14,108 | 15,261 |
Guarantee Deposits | 14,108 | 15,261 |
Retention Marcobre [Member] | ||
Disclosure Of Detailed Information About Guarantee Deposits [Line Items] | ||
Guarantee Deposits, Current | 302 | 5,052 |
Guarantee Deposits | 302 | 5,052 |
SBLC guarantees - Sale of CAM Chile S.p.A. [Member] | ||
Disclosure Of Detailed Information About Guarantee Deposits [Line Items] | ||
Guarantee Deposits, Current | 3,576 | |
Guarantee Deposits Current, Non current | 11,150 | |
Guarantee Deposits | 14,726 | |
Others [member] | ||
Disclosure Of Detailed Information About Guarantee Deposits [Line Items] | ||
Guarantee Deposits, Current | 23,235 | 13,483 |
Guarantee Deposits Current, Non current | 3,299 | 3,915 |
Guarantee Deposits | S/ 26,534 | S/ 17,398 |
Other Accounts Receivable - Sum
Other Accounts Receivable - Summary of Third party claims (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Other Accounts Receivables Amount Third Party Contract Claims Explanatory [Line Items] | ||
Claims To Third Parties | S/ 212,565 | S/ 83,054 |
Claims to third parties Current | 108,748 | 38,874 |
Claims To Third Parties Noncurrent | 103,817 | 44,180 |
Tecnicas Reunidas — Talara [Member] | ||
Other Accounts Receivables Amount Third Party Contract Claims Explanatory [Line Items] | ||
Claims To Third Parties | 53,635 | |
Claims To Third Parties Noncurrent | 53,635 | |
Municipalidad Metropolitana de Lima [Member] | ||
Other Accounts Receivables Amount Third Party Contract Claims Explanatory [Line Items] | ||
Claims To Third Parties | 49,625 | |
Claims to third parties Current | 49,625 | |
Ministerio de Vivienda and Fondo Mi Vivienda [Member] | ||
Other Accounts Receivables Amount Third Party Contract Claims Explanatory [Line Items] | ||
Claims To Third Parties | 21,816 | 20,536 |
Claims To Third Parties Noncurrent | 21,816 | 20,536 |
Accounts receivable from joint venture [Member] | ||
Other Accounts Receivables Amount Third Party Contract Claims Explanatory [Line Items] | ||
Claims To Third Parties | 60,861 | 39,736 |
Claims to third parties Current | 38,326 | 23,934 |
Claims To Third Parties Noncurrent | 22,535 | 15,802 |
Others [Member] | ||
Other Accounts Receivables Amount Third Party Contract Claims Explanatory [Line Items] | ||
Claims To Third Parties | 26,628 | 22,782 |
Claims to third parties Current | 20,797 | 14,940 |
Claims To Third Parties Noncurrent | S/ 5,831 | S/ 7,842 |
Other Accounts Receivable - S_6
Other Accounts Receivable - Summary Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Beginning balance | S/ 454,474 | ||
Reversal of impairment (Note 28.b) | S/ 32 | ||
Write-off | 12,205 | S/ 20,083 | |
Exchange difference | (2,188) | 387 | |
Translations adjustments | (180) | 154 | |
Ending balance | 433,531 | 454,474 | |
Accumulated impairment [member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Beginning balance | (30,698) | (25,567) | (1,398) |
Ending balance | (102,050) | (30,698) | (25,567) |
Guaranties Retention [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Write-off | 12,530 | ||
Translations adjustments | (184) | 165 | |
Guaranties Retention [Member] | Accumulated impairment [member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Beginning balance | 165 | ||
Ending balance | 165 | ||
Claims To Third Parties [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Reversal of impairment (Note 28.b) | 32 | ||
Write-off | (325) | 20,083 | |
Exchange difference | (2,188) | 387 | |
Translations adjustments | 4 | (11) | |
Claims To Third Parties [Member] | Accumulated impairment [member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Beginning balance | (30,863) | (25,567) | (1,398) |
Ending balance | (95,828) | (30,863) | (25,567) |
Impairment of Concar SAC [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Adjustments To Impairment Loss On Receivables Or Contract Assets Arising From Contracts With Customers | (11,431) | (1,457) | (665) |
Impairment of Concar SAC [Member] | Claims To Third Parties [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Adjustments To Impairment Loss On Receivables Or Contract Assets Arising From Contracts With Customers | (11,431) | (1,457) | (665) |
Impairment of Sucursal Colombia [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Adjustments To Impairment Loss On Receivables Or Contract Assets Arising From Contracts With Customers | (3,283) | ||
Impairment of Sucursal Colombia [Member] | Claims To Third Parties [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Adjustments To Impairment Loss On Receivables Or Contract Assets Arising From Contracts With Customers | (3,283) | ||
Impairment Of Cumbra Peru S.A. [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Adjustments To Impairment Loss On Receivables Or Contract Assets Arising From Contracts With Customers | (828) | (937) | (24,169) |
Impairment Of Cumbra Peru S.A. [Member] | Claims To Third Parties [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Adjustments To Impairment Loss On Receivables Or Contract Assets Arising From Contracts With Customers | (828) | (937) | (24,169) |
Impairment of other minors [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Adjustments To Impairment Loss On Receivables Or Contract Assets Arising From Contracts With Customers | (59) | (27) | |
Impairment of other minors [Member] | Claims To Third Parties [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Adjustments To Impairment Loss On Receivables Or Contract Assets Arising From Contracts With Customers | (59) | S/ (27) | |
Impairment of Cam Holding SPA [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Adjustments To Impairment Loss On Receivables Or Contract Assets Arising From Contracts With Customers | (12,511) | ||
Impairment of Cam Holding SPA [Member] | Guaranties Retention [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Adjustments To Impairment Loss On Receivables Or Contract Assets Arising From Contracts With Customers | (12,511) | ||
Impairment of Concesionaria Va Expresa Sur SA [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Adjustments To Impairment Loss On Receivables Or Contract Assets Arising From Contracts With Customers | (55,847) | ||
Impairment of Concesionaria Va Expresa Sur SA [Member] | Claims To Third Parties [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Adjustments To Impairment Loss On Receivables Or Contract Assets Arising From Contracts With Customers | (49,625) | ||
Impairment of other minors One [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Adjustments To Impairment Loss On Receivables Or Contract Assets Arising From Contracts With Customers | (513) | ||
Impairment of other minors One [Member] | Claims To Third Parties [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Adjustments To Impairment Loss On Receivables Or Contract Assets Arising From Contracts With Customers | S/ (513) | ||
Impairment of Viva Negocio Inmobiliario SA [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Adjustments To Impairment Loss On Receivables Or Contract Assets Arising From Contracts With Customers | (19,418) | ||
Impairment of Viva Negocio Inmobiliario SA [Member] | Claims To Third Parties [Member] | |||
Disclosure Of Detailed Information About Movement In Impairment Of Other Receivables Explanatory [Line Items] | |||
Adjustments To Impairment Loss On Receivables Or Contract Assets Arising From Contracts With Customers | S/ (19,418) |
Inventories - Schedule of Inven
Inventories - Schedule of Inventories (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of inventories [abstract] | ||
Land | S/ 176,927 | S/ 183,218 |
Work in progress- Real estate | 164,514 | 158,010 |
Finished properties | 78,048 | 86,190 |
Construction materials | 58,621 | 59,879 |
Merchandise and supplies | 80,142 | 77,787 |
Inventories gross | 558,252 | 565,084 |
Impairment of inventories | (6,252) | (9,683) |
Inventories | S/ 552,000 | S/ 555,401 |
Inventories - Additional Inform
Inventories - Additional Information (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of inventories [line items] | ||
Capitalised financing cost | S/ 3,800 | S/ 3,700 |
Construction material | 58,621 | 59,879 |
Impairment of Finished Properties | 3,800 | 4,500 |
Viva GyM [member] | ||
Disclosure of inventories [line items] | ||
Impairment loss | 1,200 | 5,200 |
Cumbra Peru S A [Member] | ||
Disclosure of inventories [line items] | ||
Construction material | S/ 53,100 | S/ 56,200 |
Bottom of range [member] | ||
Disclosure of inventories [line items] | ||
Interest rate | 7.00% | 7.00% |
Bottom of range [member] | Cumbra Peru S A [Member] | ||
Disclosure of inventories [line items] | ||
Interest rate | 2.00% | |
Top of range [member] | ||
Disclosure of inventories [line items] | ||
Interest rate | 11.00% | 12.00% |
Top of range [member] | Cumbra Peru S A [Member] | ||
Disclosure of inventories [line items] | ||
Interest rate | 11.00% |
Inventories - Schedule of Inv_2
Inventories - Schedule of Inventories of Land (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of inventories [line items] | ||
Land | S/ 176,927 | S/ 183,218 |
Lurin [member] | ||
Disclosure of inventories [line items] | ||
Land | 81,493 | 71,902 |
San Isidro [member] | ||
Disclosure of inventories [line items] | ||
Land | 51,626 | 51,285 |
Nuevo Chimbote [member] | ||
Disclosure of inventories [line items] | ||
Land | 17,616 | 17,457 |
Barranco [member] | ||
Disclosure of inventories [line items] | ||
Land | 14,432 | 14,202 |
Piura [member] | ||
Disclosure of inventories [line items] | ||
Land | S/ 11,760 | 11,805 |
Carabayllo IIl [member] | ||
Disclosure of inventories [line items] | ||
Land | S/ 16,567 |
Inventories - Schedule of Inv_3
Inventories - Schedule of Inventories of Land (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2020haApartmentParkingSpaces | |
Lurin [member] | Inmobiliaria Almonte SAC [member] | |
Disclosure of inventories [line items] | |
Area of land for development of social housing project | 107 |
Lurin [member] | Inmobiliaria Almonte 2 Sac [Member] | |
Disclosure of inventories [line items] | |
Area of land for development of social housing project | 210 |
Nuevo Chimbote [member] | |
Disclosure of inventories [line items] | |
Area of land for development of social housing project | 11.5 |
David Samanez Ocampo [member] | |
Disclosure of inventories [line items] | |
Number of apartments in building | Apartment | 24 |
Number of parking spaces | ParkingSpaces | 124 |
Inventories - Schedule of Real
Inventories - Schedule of Real Estate Work in Progress (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of inventories [line items] | ||
Work in progress - Real estate | S/ 164,514 | S/ 158,010 |
Los Parques de Comas [member] | ||
Disclosure of inventories [line items] | ||
Work in progress - Real estate | 66,114 | 77,757 |
Los Parques del Callao [member] | ||
Disclosure of inventories [line items] | ||
Work in progress - Real estate | 26,613 | 35,549 |
Los Parques de Piura [member] | ||
Disclosure of inventories [line items] | ||
Work in progress - Real estate | 9,514 | 5,658 |
Los Parques del Mar [member] | ||
Disclosure of inventories [line items] | ||
Work in progress - Real estate | 44,683 | 32,183 |
Los Parques de Carabayllo III [Member] | ||
Disclosure of inventories [line items] | ||
Work in progress - Real estate | 10,266 | |
Inmobiliaria Pezet 417 S.A.C. [member] | ||
Disclosure of inventories [line items] | ||
Work in progress - Real estate | 4,459 | 4,091 |
Others [member] | ||
Disclosure of inventories [line items] | ||
Work in progress - Real estate | S/ 2,865 | S/ 2,772 |
Inventories - Schedule of Inv_4
Inventories - Schedule of Inventories of Finished Properties (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of inventories [line items] | ||
Finished properties | S/ 78,048 | S/ 86,190 |
Los Parques de Comas [member] | ||
Disclosure of inventories [line items] | ||
Finished properties | 32,098 | 37,605 |
Los Parques del Callao [member] | ||
Disclosure of inventories [line items] | ||
Finished properties | 14,479 | 10,914 |
Huancayo [member] | ||
Disclosure of inventories [line items] | ||
Finished properties | 13,033 | 19,672 |
Los Parques de Carabayllo III [Member] | ||
Disclosure of inventories [line items] | ||
Finished properties | 8,518 | 168 |
Strip Callao [Member] | ||
Disclosure of inventories [line items] | ||
Finished properties | 6,286 | |
E1 Nuevo Rancho [Member] | ||
Disclosure of inventories [line items] | ||
Finished properties | 1,284 | 4,060 |
Los Parques de Piura [member] | ||
Disclosure of inventories [line items] | ||
Finished properties | 1,034 | 6,050 |
Klimt [member] | ||
Disclosure of inventories [line items] | ||
Finished properties | 5,978 | |
Los Parques de San Martin de Porres [Member] | ||
Disclosure of inventories [line items] | ||
Finished properties | 903 | |
Others [member] | ||
Disclosure of inventories [line items] | ||
Finished properties | S/ 1,316 | S/ 840 |
Investments In Associates And_3
Investments In Associates And Joint Ventures - Schedule of Amounts Recognised in Balance Sheet (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Investments In Associates And Joint Ventures [abstract] | ||||
Associates | S/ 27,246 | S/ 28,875 | S/ 250,282 | S/ 250,053 |
Joint ventures | 8,270 | 8,160 | S/ 7,483 | S/ 18,618 |
Investments in associates and joint ventures | S/ 35,516 | S/ 37,035 |
Investments In Associates And_4
Investments In Associates And Joint Ventures - Schedule of Amounts Recognised in Income Statement (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Investments In Associates And Joint Ventures [abstract] | |||
Associates | S/ (1,635) | S/ (220,993) | S/ (5,308) |
Joint ventures | 2,405 | 2,219 | 1,599 |
Share of profit loss of associates and joint ventures accounted for using equity method | S/ 770 | S/ (218,774) | S/ (3,709) |
Investments In Associates And_5
Investments In Associates And Joint Ventures - Summary of Detailed Information about Investment in Associates (Detail) S/ in Thousands, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020PEN (S/) | Dec. 31, 2019PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2018PEN (S/) | Dec. 31, 2017PEN (S/) | |
Disclosure of associates and joint ventures [line items] | |||||
Carrying amount | S/ 27,246 | S/ 28,875 | S/ 250,282 | S/ 250,053 | |
Concesionaria Chavimochic S.A.C. [member] | |||||
Disclosure of associates and joint ventures [line items] | |||||
Carrying amount | $ | $ 647 | ||||
Common Share [member] | Concesionaria Chavimochic S.A.C. [member] | |||||
Disclosure of associates and joint ventures [line items] | |||||
Interest in capital | 26.50% | 26.50% | |||
Carrying amount | S/ 18,058 | S/ 18,320 | |||
Common Share [member] | Peru Piping Spools S.A.C. [member] | |||||
Disclosure of associates and joint ventures [line items] | |||||
Interest in capital | 33.33% | 33.33% | |||
Carrying amount | S/ 2,760 | S/ 4,166 | |||
Common Share [member] | Obratres S.A.C. [Member] | |||||
Disclosure of associates and joint ventures [line items] | |||||
Interest in capital | 37.50% | 37.50% | |||
Carrying amount | S/ 3,812 | S/ 3,756 | |||
Common Share [member] | Inversiones Majes S.A. [Member] | |||||
Disclosure of associates and joint ventures [line items] | |||||
Interest in capital | 9.59% | 9.59% | |||
Carrying amount | S/ 2,283 | S/ 2,306 | |||
Common Share [member] | Otros [Member] | |||||
Disclosure of associates and joint ventures [line items] | |||||
Carrying amount | S/ 333 | S/ 327 |
Investments in Associates and_6
Investments in Associates and Joint Ventures - Schedule of Movement of Investments in Associates (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial information of associates [abstract] | |||
Opening balance | S/ 28,875 | S/ 250,282 | S/ 250,053 |
Contributions received | (30) | ||
Equity interest in results | (1,635) | (220,993) | (5,308) |
Decrease in capital | 5,616 | ||
Impairment of Investment | (38) | (374) | |
Conversion adjustment | 44 | (40) | (49) |
Final balance | S/ 27,246 | S/ 28,875 | S/ 250,282 |
Investments in Associates and_7
Investments in Associates and Joint Ventures - Additional Information (Detail) S/ in Thousands, $ in Millions | Jan. 24, 2017USD ($) | Nov. 30, 2015USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2019PEN (S/) | Dec. 31, 2019USD ($) | Dec. 31, 2018PEN (S/) | Dec. 31, 2018USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2017PEN (S/) | Dec. 31, 2017USD ($) |
Disclosure of Investments in Associates and Joint Ventures [line items] | |||||||||||||
Investment in associate | S/ | S/ 27,246 | S/ 28,875 | S/ 250,282 | S/ 250,053 | |||||||||
Accounts receivable from related parties | S/ | 27,338 | 36,658 | |||||||||||
Income tax expense | S/ | 53,134 | 114,240 | 151,039 | ||||||||||
Gasoducto Sur Peruano S.A. [member] | |||||||||||||
Disclosure of Investments in Associates and Joint Ventures [line items] | |||||||||||||
Ownership interest in associate | 20.00% | ||||||||||||
Percentage of performance guarantee established in concession contract | 20.00% | ||||||||||||
Performance guarantee required under concession agreement | $ 262.5 | ||||||||||||
Percentage of collateral of bridge loan | 21.49% | ||||||||||||
Collateral bridge loan | $ 600 | ||||||||||||
Value determined by audit firm as payable | $ 2,602 | ||||||||||||
Accounts receivable claim | $ 0.4 | ||||||||||||
Claims from fiduciary as administrator of the accounts receivable | $ 169.3 | ||||||||||||
Impairment of investment | 218,000 | $ 65 | S/ 739,000 | $ 220 | |||||||||
Impairment of long term account receivable | 276,000 | 81.5 | |||||||||||
Discount Under Amortized Cost | 22,800 | $ 5.4 | 58,000 | 17 | |||||||||
Write-off of deferred tax asset | 180,000 | 54 | |||||||||||
Effect of Change in Fair Value of Investments Before Taxes | 552,000 | 163.5 | |||||||||||
Income tax expense | 180,000 | $ 54 | |||||||||||
Fair value of investments | S/ 320,000 | S/ 275,000 | $ 88.6 | $ 83 | |||||||||
Gasoducto Sur Peruano S.A. [member] | GSP Bridge Loan [member] | |||||||||||||
Disclosure of Investments in Associates and Joint Ventures [line items] | |||||||||||||
Guarantee obligation | $ 129 | ||||||||||||
Gasoducto Sur Peruano S.A. [member] | Bottom of range [member] | |||||||||||||
Disclosure of Investments in Associates and Joint Ventures [line items] | |||||||||||||
Discount rate used in estimations | 1.60% | 1.60% | |||||||||||
Gasoducto Sur Peruano S.A. [member] | Top of range [member] | |||||||||||||
Disclosure of Investments in Associates and Joint Ventures [line items] | |||||||||||||
Discount rate used in estimations | 3.43% | 3.43% | |||||||||||
Gasoducto Sur Peruano S.A. [member] | Concession Agreement [member] | |||||||||||||
Disclosure of Investments in Associates and Joint Ventures [line items] | |||||||||||||
Guarantee obligation | 52.5 | ||||||||||||
Accounts receivable from related parties | $ 181.5 | ||||||||||||
Gasoducto Sur Peruano S.A. [member] | Capital Contributions [member] | |||||||||||||
Disclosure of Investments in Associates and Joint Ventures [line items] | |||||||||||||
Investment in associate | $ 242.5 | ||||||||||||
Consorcio Constructor Ductos del Sur [member] | |||||||||||||
Disclosure of Investments in Associates and Joint Ventures [line items] | |||||||||||||
Ownership interest in associate | 29.00% | ||||||||||||
Concesionaria Chavimochic S.A.C. [member] | |||||||||||||
Disclosure of Investments in Associates and Joint Ventures [line items] | |||||||||||||
Investment in associate | $ 647 | ||||||||||||
Concession effective period | 25 years | 25 years | |||||||||||
Palo Redondo Dam [member] | |||||||||||||
Disclosure of Investments in Associates and Joint Ventures [line items] | |||||||||||||
Percentage of work completed | 70.00% | 70.00% |
Investments In Associates And_8
Investments In Associates And Joint Ventures - Summary of Financial Information for Associates (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial information of associates [line items] | |||
Assets | S/ 2,825,609 | S/ 2,979,771 | |
Liabilities | (2,497,972) | (2,558,583) | |
Assets | 3,286,955 | 3,424,693 | S/ 4,310,507 |
Administrative expenses | (152,909) | (248,652) | (311,163) |
Loss operative | (131,900) | (535,271) | 124,005 |
Others | 218,445 | 519,279 | 124,273 |
Loss of the year | (190,344) | (838,642) | 13,012 |
Total comprehensive income for the year | (181,958) | (847,262) | S/ 71,709 |
Concesionaria Chavimochic S.A.C. [member] | |||
Disclosure of financial information of associates [line items] | |||
Assets | 58,814 | 55,830 | |
Liabilities | (4,795) | (1,596) | |
Assets | 11,635 | 12,408 | |
Net assets | 65,654 | 66,642 | |
Administrative expenses | (4,521) | (11,028) | |
Loss operative | (4,521) | (11,028) | |
Others | 3,534 | 719 | |
Loss of the year | (987) | (11,747) | |
Total comprehensive income for the year | S/ (987) | S/ (11,747) |
Investments In Associates And_9
Investments In Associates And Joint Ventures - Summary of Detailed Information about Joint Ventures (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of associates and joint ventures [line items] | ||||
Carrying amount, joint ventures | S/ 8,270 | S/ 8,160 | S/ 7,483 | S/ 18,618 |
Common Share [member] | Logistica Quimicos del Sur S.A.C. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Interest in capital, joint ventures | 50.00% | 50.00% | ||
Carrying amount, joint ventures | S/ 8,080 | S/ 8,006 | ||
Common Share [member] | Constructora SK-VyV Ltda. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Interest in capital, joint ventures | 50.00% | 50.00% | ||
Carrying amount, joint ventures | S/ 34 | S/ 29 | ||
Common Share [member] | Other joint ventures [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Carrying amount, joint ventures | S/ 156 | S/ 125 |
Investments In Associates An_10
Investments In Associates And Joint Venture - Schedule of Movement of Investments in Joint Ventures (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial information of joint ventures [abstract] | |||
Opening balance | S/ 8,160 | S/ 7,483 | S/ 18,618 |
Equity interest in results | 2,405 | 2,219 | 1,599 |
Disposal of Investment | (10,112) | ||
Dividends received | (2,318) | (1,517) | (1,823) |
Conversion adjustment | 23 | (14) | 79 |
Impairment Of Investment | (11) | (878) | |
Final balance | S/ 8,270 | S/ 8,160 | S/ 7,483 |
Investments In Associates An_11
Investments In Associates And Joint Venture - Summary of Financial Information for Joint Ventures (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial information of joint ventures [line items] | |||
Cash and cash equivalents | S/ 900,168 | S/ 950,701 | S/ 807,214 |
Total current assets | 2,825,609 | 2,979,771 | |
Other current liabilities | (718,406) | (669,674) | |
Total current liabilities | (2,497,972) | (2,558,583) | |
Total non-current assets | 3,286,955 | 3,424,693 | 4,310,507 |
Total non-current liabilities | (2,019,296) | (1,969,796) | |
Revenues | 3,314,029 | 4,337,861 | 4,202,398 |
Depreciation and amortization | (197,125) | (219,817) | (206,520) |
(Loss)/profit before income tax | (131,900) | (535,271) | 124,005 |
Income tax expense | (58,444) | (303,371) | (110,993) |
Profit from continuing operations after income tax | (190,344) | (838,642) | 13,012 |
Total comprehensive income | (181,958) | (847,262) | S/ 71,709 |
Logistica Quimicos del Sur S.A.C. [member] | |||
Disclosure of financial information of joint ventures [line items] | |||
Cash and cash equivalents | 2,710 | 2,131 | |
Other current assets | 3,324 | 2,416 | |
Total current assets | 6,034 | 4,547 | |
Other current liabilities | (6,108) | (4,381) | |
Total current liabilities | (6,108) | (4,381) | |
Total non-current assets | 35,715 | 37,620 | |
Total non-current liabilities | (19,484) | (21,773) | |
Net assets | 16,157 | 16,013 | |
Revenues | 13,351 | 12,622 | |
Depreciation and amortization | (2,394) | (2,505) | |
Interest expense | (508) | (644) | |
(Loss)/profit before income tax | 6,854 | 6,500 | |
Income tax expense | (2,072) | (1,913) | |
Profit from continuing operations after income tax | 4,782 | 4,587 | |
Total comprehensive income | S/ 4,782 | S/ 4,587 |
Investments In Associates An_12
Investments In Associates And Joint Venture - Summary of Financial Information for Joint Ventures (Parenthetical) (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial information of joint ventures [line items] | |||
Dividends received | S/ 2,318 | S/ 1,517 | S/ 1,823 |
Logistica Quimicos del Sur S.A. [member] | |||
Disclosure of financial information of joint ventures [line items] | |||
Dividends received | S/ 2,300 | S/ 1,500 | S/ 1,800 |
Property, Plant And Equipment_3
Property, Plant And Equipment, Net And Right-Of-Use Assets - Summary of Movement in Property, Plant and Equipment Accounts and Its Related Accumulated Depreciation (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | S/ 463,990 | S/ 503,584 | S/ 865,735 |
Additions | 36,065 | 81,902 | 83,186 |
Transfer to investment property | 89 | (2,264) | |
Deconsolidation, net | (259,126) | ||
Deduction for sale of assets | (38,971) | (35,425) | (95,981) |
Disposals, net | (12,374) | (3,628) | |
Depreciation charge | (78,560) | (80,566) | (123,100) |
Impairment loss | (5,214) | (18,940) | (5,664) |
Depreciation for sale deductions | 32,110 | 27,633 | 57,024 |
Translations adjustments | 8,334 | (8,306) | (3,871) |
Net carrying amount | 405,469 | 463,990 | 503,584 |
Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 1,231,512 | 1,207,819 | 1,871,186 |
Disposals, net | (14,619) | ||
Net carrying amount | 1,200,646 | 1,231,512 | 1,207,819 |
Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | (767,522) | (704,235) | (1,005,451) |
Net carrying amount | (795,177) | (767,522) | (704,235) |
Land [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 19,701 | 20,209 | 23,678 |
Additions | 290 | 0 | |
Transfer to investment property | (273) | ||
Deconsolidation, net | (3,183) | ||
Deduction for sale of assets | 0 | ||
Disposals, net | (9,895) | ||
Translations adjustments | 800 | (525) | (286) |
Net carrying amount | 10,606 | 19,701 | 20,209 |
Land [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 19,974 | 20,482 | 23,951 |
Net carrying amount | 10,879 | 19,974 | 20,482 |
Land [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | (273) | (273) | (273) |
Net carrying amount | (273) | (273) | (273) |
Buildings [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 87,910 | 95,674 | 112,559 |
Additions | 412 | 459 | 13,216 |
Transfer to investment property | (1,187) | ||
Deconsolidation, net | (24,295) | ||
Reclassifications | 1,404 | 1,672 | 17,129 |
Deduction for sale of assets | (192) | (78) | (3,527) |
Disposals, net | (2,014) | (674) | |
Depreciation charge | (7,636) | (7,387) | (14,257) |
Impairment loss | (161) | ||
Depreciation for sale deductions | 58 | 78 | 1,189 |
Translations adjustments | 1,419 | (647) | 3,383 |
Net carrying amount | 81,200 | 87,910 | 95,674 |
Buildings [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 129,911 | 129,482 | 161,057 |
Disposals, net | (9,723) | ||
Net carrying amount | 132,940 | 129,911 | 129,482 |
Buildings [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | (42,001) | (33,808) | (48,498) |
Net carrying amount | (51,740) | (42,001) | (33,808) |
Machinery [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 271,356 | 254,215 | 432,822 |
Additions | 17,941 | 23,011 | 11,318 |
Deconsolidation, net | (109,425) | ||
Reclassifications | 23,745 | 52,720 | 16,626 |
Deduction for sale of assets | (26,046) | (22,885) | (55,567) |
Disposals, net | (237) | (316) | |
Depreciation charge | (53,220) | (48,035) | (67,430) |
Impairment loss | (5,069) | (3,155) | (5,664) |
Depreciation for sale deductions | 25,293 | 19,520 | 37,452 |
Translations adjustments | 3,474 | (3,719) | (3,310) |
Net carrying amount | 257,237 | 271,356 | 254,215 |
Machinery [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 726,173 | 689,845 | 995,155 |
Disposals, net | (2,607) | ||
Net carrying amount | 750,769 | 726,173 | 689,845 |
Machinery [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | (454,817) | (435,630) | (562,333) |
Net carrying amount | (493,532) | (454,817) | (435,630) |
Vehicles [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 26,323 | 40,077 | 181,783 |
Additions | 0 | 866 | 9,377 |
Deconsolidation, net | (110,540) | ||
Reclassifications | 35 | 342 | (1,415) |
Deduction for sale of assets | (11,762) | (9,531) | (32,399) |
Disposals, net | (94) | (101) | |
Depreciation charge | (4,461) | (9,816) | (19,391) |
Impairment loss | (17) | ||
Depreciation for sale deductions | 5,836 | 5,232 | 14,868 |
Translations adjustments | 864 | (746) | (788) |
Net carrying amount | 16,724 | 26,323 | 40,077 |
Vehicles [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 75,146 | 85,349 | 380,503 |
Disposals, net | (1,418) | ||
Net carrying amount | 64,666 | 75,146 | 85,349 |
Vehicles [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | (48,823) | (45,272) | (198,720) |
Net carrying amount | (47,942) | (48,823) | (45,272) |
Furniture and fixtures [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 8,584 | 10,332 | 14,895 |
Additions | 844 | 759 | 2,145 |
Deconsolidation, net | (547) | ||
Reclassifications | 207 | (1,430) | |
Deduction for sale of assets | (523) | (133) | (2,164) |
Disposals, net | (140) | (187) | |
Depreciation charge | (1,344) | (2,338) | (3,954) |
Impairment loss | (33) | ||
Depreciation for sale deductions | 495 | 86 | 1,813 |
Translations adjustments | (12) | (142) | (134) |
Net carrying amount | 7,937 | 8,584 | 10,332 |
Furniture and fixtures [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 58,236 | 59,643 | 63,727 |
Disposals, net | (292) | ||
Net carrying amount | 52,843 | 58,236 | 59,643 |
Furniture and fixtures [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | (49,652) | (49,311) | (48,832) |
Net carrying amount | (44,906) | (49,652) | (49,311) |
Other equipment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 23,371 | 31,043 | 48,709 |
Additions | 1,781 | 9,897 | 14,122 |
Transfer to investment property | 89 | ||
Deconsolidation, net | (10,421) | ||
Reclassifications | 379 | 369 | 75 |
Deduction for sale of assets | (448) | (2,789) | (2,200) |
Disposals, net | (6) | (2,350) | |
Depreciation charge | (11,899) | (12,989) | (18,068) |
Depreciation for sale deductions | 428 | 2,717 | 1,702 |
Translations adjustments | 1,769 | (2,527) | (2,415) |
Net carrying amount | 15,476 | 23,371 | 31,043 |
Other equipment [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 179,179 | 170,622 | 195,142 |
Disposals, net | (461) | ||
Net carrying amount | 156,111 | 179,179 | 170,622 |
Other equipment [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | (155,808) | (139,579) | (146,433) |
Net carrying amount | (140,635) | (155,808) | (139,579) |
Replacement units [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 17,804 | ||
Depreciation charge | (1) | ||
Translations adjustments | 0 | ||
Net carrying amount | 17,804 | ||
Replacement units [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 17,814 | ||
Net carrying amount | 17,814 | ||
Replacement units [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | (10) | ||
Net carrying amount | (10) | ||
Replacement and In-transit units [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 10,613 | 17,804 | 22,928 |
Additions | 3,549 | 7,036 | 5,577 |
Deconsolidation, net | 0 | ||
Reclassifications | (2,216) | (14,217) | (10,577) |
Deduction for sale of assets | (9) | (124) | |
Disposals, net | 0 | ||
Net carrying amount | 11,946 | 10,613 | 17,804 |
Replacement and In-transit units [Member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 10,624 | 17,814 | 22,938 |
Net carrying amount | 11,957 | 10,624 | 17,814 |
Replacement and In-transit units [Member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | (11) | (10) | (10) |
Net carrying amount | (11) | (11) | (10) |
Work in progress [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 16,132 | 34,230 | 28,361 |
Additions | 11,538 | 39,584 | 27,431 |
Transfer to investment property | (804) | ||
Deconsolidation, net | (715) | ||
Reclassifications | (23,347) | (41,093) | (20,408) |
Disposals, net | 0 | (118) | |
Impairment loss | (15,785) | ||
Translations adjustments | 20 | (321) | |
Net carrying amount | 4,343 | 16,132 | 34,230 |
Work in progress [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | 32,269 | 34,582 | 28,713 |
Net carrying amount | 20,481 | 32,269 | 34,582 |
Work in progress [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net carrying amount | (16,137) | (352) | (352) |
Net carrying amount | S/ (16,138) | S/ (16,137) | S/ (352) |
Property, Plant And Equipment_4
Property, Plant And Equipment, Net And Right-Of-Use Assets - Additional Information (Detail) - PEN (S/) S/ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Proceeds from sale of fixed assets | S/ 9.1 | S/ 12.7 | S/ 31.9 |
Gain (loss) from fixed assets | 2.3 | 6.1 | (7.1) |
Fully depreciated property, plant and equipment | 119.1 | 135.2 | 424.5 |
Lease Expense under 12 months | 351.7 | 167.3 | |
Lease Expense of Low Value Assets | 5.1 | 7 | |
Variable Lease Payments | 48.7 | 0.6 | |
Property, plant and equipment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Other financial liabilities | S/ 79.7 | S/ 111.9 | S/ 162.9 |
Property, Plant And Equipment_5
Property, Plant And Equipment, Net And Right-Of-Use Assets - Summary of Depreciation of Fixed Assets and Investment Properties (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Depreciation related to investment property | S/ (2,413) | S/ (2,356) | S/ (2,319) |
Cumulative depreciation | (17,531) | (29,396) | |
Total depreciation of property, plant and equipment | 78,560 | 80,566 | 123,100 |
Discontinued operations [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total depreciation of property, plant and equipment | 27,570 | ||
Property, plant and equipment including investment property [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total depreciation of property, plant and equipment | 98,504 | 112,318 | 125,419 |
Cost of goods and services [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Cumulative depreciation | (15,938) | (26,449) | |
Total depreciation of property, plant and equipment | 90,146 | 108,066 | 91,249 |
Administrative expenses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Cumulative depreciation | (1,593) | (2,947) | |
Total depreciation of property, plant and equipment | S/ 8,358 | S/ 4,252 | S/ 6,600 |
Property, Plant And Equipment_6
Property, Plant And Equipment, Net And Right-Of-Use Assets - Summary of Net Carrying Amount of Machinery and Equipment, Vehicles and Furniture and Fixtures Acquired Under Finance Lease Agreements (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Accumulated depreciation | S/ (78,560) | S/ (80,566) | S/ (123,100) | |
Net carrying amount | 405,469 | 463,990 | 503,584 | S/ 865,735 |
Finance Lease [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Cost of acquisition | 64,623 | 68,553 | 86,881 | |
Accumulated depreciation | (52,165) | (46,773) | (38,026) | |
Net carrying amount | S/ 12,458 | S/ 21,780 | S/ 48,855 |
Property, Plant and Equipment_7
Property, Plant and Equipment, Net and Right-of-Use Assets - Summary of Corporation Recognized Assets And Liabilities For Right-Of-Use (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of quantitative information about right-of-use assets [line items] | |||
Addition of liabilities for right-of-use | S/ 12,075 | S/ 101,745 | S/ 0 |
Depreciation charge | (17,531) | (29,396) | |
Disposals, net | (21,541) | ||
Translations adjustments | 934 | 271 | |
Net final carrying amount | 64,518 | 90,581 | |
Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Net final carrying amount | 109,517 | 119,977 | |
Accumulated depreciation and amortisation [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Net final carrying amount | (44,999) | (29,396) | |
Buildings [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Addition of liabilities for right-of-use | 6,681 | 80,279 | |
Depreciation charge | (13,211) | (13,568) | |
Disposals, net | (10,463) | ||
Translations adjustments | 880 | 271 | |
Net final carrying amount | 50,869 | 66,982 | |
Buildings [member] | Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Net final carrying amount | 75,849 | 80,550 | |
Buildings [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Net final carrying amount | (24,980) | (13,568) | |
Machinery And Equipment [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Addition of liabilities for right-of-use | 876 | 18,597 | |
Depreciation charge | (5,834) | (6,899) | |
Net final carrying amount | 6,740 | 11,698 | |
Machinery And Equipment [Member] | Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Net final carrying amount | 19,344 | 18,597 | |
Machinery And Equipment [Member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Net final carrying amount | (12,604) | (6,899) | |
Vehicles [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Addition of liabilities for right-of-use | 4,518 | 20,830 | |
Depreciation charge | (1,514) | (8,929) | |
Disposals, net | (11,078) | ||
Translations adjustments | 54 | ||
Net final carrying amount | 6,909 | 11,901 | |
Vehicles [member] | Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Net final carrying amount | 14,324 | 20,830 | |
Vehicles [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Net final carrying amount | S/ (7,415) | S/ (8,929) |
Property, Plant and Equipment_8
Property, Plant and Equipment, Net and Right-of-Use Assets - Summary of Distribution Expense For Depreciation Of Right-Of-Use Assets (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Depreciation Of Right of use Assets [Line Items] | ||
Depreciation, right-of-use assets | S/ 17,531 | S/ 29,396 |
Cost of services and goods [member] | ||
Disclosure Of Depreciation Of Right of use Assets [Line Items] | ||
Depreciation, right-of-use assets | 15,938 | 26,449 |
Administrative expenses [member] | ||
Disclosure Of Depreciation Of Right of use Assets [Line Items] | ||
Depreciation, right-of-use assets | S/ 1,593 | S/ 2,947 |
Intangible Assets - Summary of
Intangible Assets - Summary of Movement of Intangible Assets and That of Their Related Accumulated Amortization (Detail) S/ in Thousands, $ in Millions | 12 Months Ended | |||
Dec. 31, 2020PEN (S/) | Dec. 31, 2019PEN (S/) | Dec. 31, 2019CLP ($) | Dec. 31, 2018PEN (S/) | |
Disclosure Of Goodwill [line items] | ||||
Intangible assets | S/ 854,227 | S/ 868,050 | S/ 940,070 | |
Additions | 50,405 | 138,895 | 100,681 | |
Capitalization of interest expenses | 1,105 | 3,527 | 3,361 | |
Deconsolidation, net | (51,174) | |||
Transfers from assets under Construction | (89) | |||
Derecognition - net | (492) | (25,964) | (6,083) | |
Amortization | (98,621) | (107,499) | (112,072) | |
Impairment loss | (38,770) | |||
Impairment reversal | 20,676 | $ 4,782 | ||
Translations adjustments | 9,612 | (4,688) | (6,733) | |
Reclasifications | (24,157) | |||
Intangible assets | 791,990 | 854,227 | 868,050 | |
Gross carrying amount [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 1,698,976 | 1,818,614 | 1,816,278 | |
Intangible assets | 1,739,418 | 1,698,976 | 1,818,614 | |
Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | (844,749) | (950,564) | (876,208) | |
Intangible assets | (947,428) | (844,749) | (950,564) | |
Goodwill [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 57,367 | 93,288 | 116,804 | |
Deconsolidation, net | (20,086) | |||
Derecognition - net | (930) | |||
Impairment loss | (33,089) | |||
Translations adjustments | 1,579 | (1,902) | (3,430) | |
Reclasifications | 0 | |||
Intangible assets | 58,946 | 57,367 | 93,288 | |
Goodwill [member] | Gross carrying amount [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 93,887 | 170,346 | 193,862 | |
Intangible assets | 95,466 | 93,887 | 170,346 | |
Goodwill [member] | Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | (36,520) | (77,058) | (77,058) | |
Intangible assets | (36,520) | (36,520) | (77,058) | |
Trademarks [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 70,695 | 60,799 | 65,100 | |
Derecognition - net | (8,358) | |||
Impairment reversal | 20,676 | |||
Translations adjustments | 7,810 | (2,422) | (4,301) | |
Reclasifications | (84) | |||
Intangible assets | 78,421 | 70,695 | 60,799 | |
Trademarks [member] | Gross carrying amount [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 73,836 | 106,185 | 110,486 | |
Intangible assets | 81,562 | 73,836 | 106,185 | |
Trademarks [member] | Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | (3,141) | (45,386) | (45,386) | |
Intangible assets | (3,141) | (3,141) | (45,386) | |
Concession rights [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 443,950 | 484,082 | 528,227 | |
Additions | 4,412 | 26,645 | 23,803 | |
Capitalization of interest expenses | 2,725 | 3,361 | ||
Deconsolidation, net | (20,716) | |||
Derecognition - net | (16) | |||
Amortization | (52,408) | (50,102) | (50,776) | |
Impairment loss | (3,213) | |||
Translations adjustments | (16,187) | 199 | ||
Reclasifications | (24,157) | |||
Intangible assets | 371,797 | 443,950 | 484,082 | |
Concession rights [member] | Gross carrying amount [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 710,290 | 885,915 | 879,289 | |
Intangible assets | 690,545 | 710,290 | 885,915 | |
Concession rights [member] | Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | (266,340) | (401,833) | (351,062) | |
Intangible assets | (318,748) | (266,340) | (401,833) | |
Contractual relationships with clients [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 501 | 25,966 | 34,265 | |
Derecognition - net | (11,665) | |||
Amortization | (3,682) | (7,996) | ||
Translations adjustments | 22 | (10,118) | (303) | |
Intangible assets | 523 | 501 | 25,966 | |
Contractual relationships with clients [member] | Gross carrying amount [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 72,810 | 100,337 | 100,640 | |
Intangible assets | 77,542 | 72,810 | 100,337 | |
Contractual relationships with clients [member] | Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | (72,309) | (74,371) | (66,375) | |
Intangible assets | (77,019) | (72,309) | (74,371) | |
Software and development costs [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 21,387 | 3,992 | 17,624 | |
Additions | 1,526 | 5,016 | 3,267 | |
Deconsolidation, net | (10,153) | |||
Transfers from assets under Construction | (64) | 672 | 199 | |
Derecognition - net | (492) | (2,015) | (1,941) | |
Amortization | (6,037) | (7,529) | (5,834) | |
Translations adjustments | 201 | 21,251 | 830 | |
Reclasifications | 74 | |||
Intangible assets | 16,595 | 21,387 | 3,992 | |
Software and development costs [member] | Gross carrying amount [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 63,278 | 22,565 | 66,301 | |
Intangible assets | 63,871 | 63,278 | 22,565 | |
Software and development costs [member] | Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | (41,891) | (18,573) | (48,677) | |
Intangible assets | (47,276) | (41,891) | (18,573) | |
Costs of development of wells [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 193,974 | 139,221 | 116,733 | |
Additions | 37,994 | 102,022 | 68,544 | |
Transfers from assets under Construction | (25) | |||
Derecognition - net | 0 | (4,126) | ||
Amortization | (36,942) | (43,552) | (41,930) | |
Translations adjustments | (3,717) | |||
Intangible assets | 195,001 | 193,974 | 139,221 | |
Costs of development of wells [member] | Gross carrying amount [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 558,530 | 464,847 | 400,429 | |
Intangible assets | 596,499 | 558,530 | 464,847 | |
Costs of development of wells [member] | Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | (364,556) | (325,626) | (283,696) | |
Intangible assets | (401,498) | (364,556) | (325,626) | |
Land use right [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 10,820 | 13,288 | 13,288 | |
Impairment loss | (2,468) | |||
Intangible assets | 10,820 | 10,820 | 13,288 | |
Land use right [member] | Gross carrying amount [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 13,288 | 13,288 | 13,288 | |
Intangible assets | 13,288 | 13,288 | 13,288 | |
Land use right [member] | Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | (2,468) | |||
Intangible assets | (2,468) | (2,468) | ||
Other assets [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 55,533 | 47,414 | 48,029 | |
Additions | 6,473 | 5,212 | 5,067 | |
Capitalization of interest expenses | 1,105 | 802 | ||
Deconsolidation, net | (219) | |||
Transfers from assets under Construction | (672) | (199) | ||
Derecognition - net | (2,996) | |||
Amortization | (3,234) | (2,634) | (5,536) | |
Translations adjustments | 8,407 | 272 | ||
Reclasifications | 10 | |||
Intangible assets | 59,887 | 55,533 | 47,414 | |
Other assets [member] | Gross carrying amount [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | 113,057 | 55,131 | 51,983 | |
Intangible assets | 120,645 | 113,057 | 55,131 | |
Other assets [member] | Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure Of Goodwill [line items] | ||||
Intangible assets | (57,524) | (7,717) | (3,954) | |
Intangible assets | S/ (60,758) | S/ (57,524) | S/ (7,717) |
Intangible Assets - Summary o_2
Intangible Assets - Summary of Goodwill Allocated to Cash-Generating Units (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Goodwill [line items] | |||
Goodwill | S/ 58,946 | S/ 57,367 | S/ 93,288 |
Engineering and Construction [member] | |||
Disclosure Of Goodwill [line items] | |||
Goodwill | 38,211 | 36,632 | 71,621 |
Electromechanical [member] | |||
Disclosure Of Goodwill [line items] | |||
Goodwill | 20,735 | S/ 20,735 | 20,737 |
IT equipment and services [member] | |||
Disclosure Of Goodwill [line items] | |||
Goodwill | S/ 0 | S/ 930 |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) S/ in Thousands, $ in Millions, $ in Millions | Dec. 10, 2014USD ($) | Dec. 31, 2020PEN (S/)Wells | Dec. 31, 2019PEN (S/) | Dec. 31, 2019USD ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2018PEN (S/) | Aug. 31, 2016PEN (S/) | Dec. 31, 2014PEN (S/) | Aug. 31, 2013PEN (S/) |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||
Impairment impact in goodwill | S/ 0 | S/ 33,089 | S/ 0 | ||||||
Period of operating economic activities of each CGU | 5 years | ||||||||
Costs capitalized | S/ 41,000 | 108,000 | S/ 68,000 | ||||||
Dismantling wells provision | 36,000 | ||||||||
Impairment loss reversal | S/ 20,676 | $ 4,782 | |||||||
UNNA Energia S.A. [member] | Talara, Piura [member] | |||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||
Right for exploiting oil blocks in years | 30 | ||||||||
Total estimated investment | $ | $ 400 | ||||||||
Bottom of range [member] | |||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||
Borrowings interest rate | 7.00% | 7.00% | |||||||
Top of range [member] | |||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||
Borrowings interest rate | 11.00% | 12.00% | |||||||
Trademark [member] | Vial and Vives S.A.C. [member] | |||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||
Trademarks acquired | S/ 75,400 | ||||||||
Trademark [member] | Morelco S.A.S. [member] | |||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||
Impairment impact in goodwill | $ | $ 33 | ||||||||
Trademarks acquired | S/ 33,330 | ||||||||
Trademark [member] | Adexus S.A.[member] | |||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||
Impairment impact in goodwill | S/ 900 | ||||||||
Trademarks acquired | S/ 9,100 | ||||||||
Oil lots three [member] | UNNA Energia S.A. [member] | Talara, Piura [member] | |||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||
Number of wells | Wells | 230 | ||||||||
Oil lots four [member] | UNNA Energia S.A. [member] | Talara, Piura [member] | |||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||
Number of wells | Wells | 330 | ||||||||
Concession rights [member] | Bottom of range [member] | |||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||
Borrowings interest rate | 7.14% | ||||||||
Concession rights [member] | Top of range [member] | |||||||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||||||
Borrowings interest rate | 8.72% |
Intangible Assets - Summary o_3
Intangible Assets - Summary of Major Assumptions Used by the Group in Determining the Fair Value Less Cost of Disposal (Detail) | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Engineering and Construction [member] | |||
Disclosure Of Major Assumptions Used In Determining Fair Value Less Cost Of disposal And Value In Use [line items] | |||
Gross margin | 12.50% | 12.43% | 12.67% |
Terminal growth rate | 3.00% | 3.00% | 3.00% |
Discount rate | 11.06% | 11.83% | 12.55% |
Engineering and Construction [member] | Morelco S.A.S. [member] | |||
Disclosure Of Major Assumptions Used In Determining Fair Value Less Cost Of disposal And Value In Use [line items] | |||
Average revenue growth rate | 7.60% | 5.70% | 12.25% |
Terminal growth rate | 3.00% | 3.00% | 3.00% |
Discount rate | 11.06% | 11.83% | 12.55% |
Engineering and Construction [member] | Vial y Vives - DSD [member] | |||
Disclosure Of Major Assumptions Used In Determining Fair Value Less Cost Of disposal And Value In Use [line items] | |||
Average revenue growth rate | 5.00% | 19.58% | 19.58% |
Terminal growth rate | 2.10% | 2.00% | 3.00% |
Discount rate | 13.16% | 14.12% | 14.00% |
Electromechanical [member] | |||
Disclosure Of Major Assumptions Used In Determining Fair Value Less Cost Of disposal And Value In Use [line items] | |||
Gross margin | 9.36% | 8.86% | 7.63% |
Terminal growth rate | 2.00% | 2.00% | 2.00% |
Discount rate | 11.77% | 11.40% | 11.44% |
Intangible Assets - Summary o_4
Intangible Assets - Summary of Concessions (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Detailed Information About Concessions [Line Items] | ||||
EPC Contract | S/ 791,990 | S/ 854,227 | S/ 868,050 | S/ 940,070 |
Cost of capitalized indebtedness at effective interest rates between 7.14% and 8.72% | 3,800 | 3,700 | ||
Road improvement | 12,922 | 14,449 | ||
Implementation for road safety | 9,034 | 8,152 | ||
Work capitalization of second roadway | 280,326 | 314,614 | ||
Disbursements for land adquisition | 4,510 | 4,233 | ||
Other intangible assets contracted for the delivery process | 5,026 | 7,477 | ||
Total Norvial S.A. | 369,730 | 417,003 | ||
Other concessions | 2,067 | 26,947 | ||
Contractual arrangements [member] | ||||
Disclosure Of Detailed Information About Concessions [Line Items] | ||||
EPC Contract | 371,797 | 443,950 | ||
Service concession rights [member] | ||||
Disclosure Of Detailed Information About Concessions [Line Items] | ||||
EPC Contract | 371,797 | 443,950 | S/ 484,082 | S/ 528,227 |
Cost of capitalized indebtedness at effective interest rates between 7.14% and 8.72% | 950 | |||
Service concession rights [member] | Contractual arrangements [member] | ||||
Disclosure Of Detailed Information About Concessions [Line Items] | ||||
EPC Contract | 54,506 | 62,319 | ||
Ancon Huacho Pativilca [Member] | Service concession rights [member] | ||||
Disclosure Of Detailed Information About Concessions [Line Items] | ||||
Cost of capitalized indebtedness at effective interest rates between 7.14% and 8.72% | S/ 3,406 | S/ 4,809 |
Intangible Assets - Summary o_5
Intangible Assets - Summary of Amortization of Intangibles (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Amortisation expense of intangible assets | S/ 98,621 | S/ 107,499 | S/ 112,072 |
Cost of sales and services [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Amortisation expense of intangible assets | 94,483 | 101,810 | 101,378 |
Administrative expenses [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Amortisation expense of intangible assets | S/ 4,138 | S/ 5,689 | 7,293 |
Discontinued operations [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Amortisation expense of intangible assets | S/ 3,401 |
Borrowings - Summary of Other F
Borrowings - Summary of Other Financial Liabilities (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [line items] | ||
Total | S/ 898,320 | S/ 890,595 |
Current borrowings | 452,884 | 481,529 |
Non-current borrowings | 445,436 | 409,066 |
Bank loans [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 571,659 | 631,863 |
Current borrowings | 409,272 | 445,289 |
Non-current borrowings | 162,387 | 186,574 |
Finance Leases Liabilities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 52,391 | 23,650 |
Current borrowings | 13,635 | 10,357 |
Non-current borrowings | 38,756 | 13,293 |
Lease liability for right-of-use asset [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 72,726 | 92,870 |
Current borrowings | 19,950 | 23,980 |
Non-current borrowings | 52,776 | 68,890 |
Other financial liabilities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 201,544 | 142,212 |
Current borrowings | 10,027 | 1,903 |
Non-current borrowings | S/ 191,517 | S/ 140,309 |
Borrowings - Additional informa
Borrowings - Additional information (Detail) S/ in Thousands, $ in Millions | Jul. 31, 2017PEN (S/) | Jul. 31, 2017USD ($) | Jul. 31, 2019 | May 29, 2018 | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2020USD ($) | Dec. 30, 2020USD ($) | Feb. 28, 2020USD ($) | Dec. 31, 2019PEN (S/) | Dec. 31, 2019USD ($) | Oct. 31, 2019PEN (S/) | Oct. 31, 2019USD ($) | Sep. 30, 2019PEN (S/) | Aug. 31, 2019PEN (S/) | Aug. 31, 2019USD ($) | Jul. 01, 2019USD ($) | Jun. 11, 2018PEN (S/) | Jun. 11, 2018USD ($) | Jul. 31, 2017USD ($) |
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Initial term of loan | 18 months | |||||||||||||||||||
Borrowings | S/ | S/ 898,320 | S/ 890,595 | ||||||||||||||||||
Borrowings, maturity | December 2027 | December 2027 | ||||||||||||||||||
Outstanding line of credit | S/ 111,000 | $ 30.7 | 146,600 | $ 44.2 | ||||||||||||||||
Material quantitative change percentage | (10.00%) | (10.00%) | ||||||||||||||||||
Percentage of the amount of income provisions | 80.00% | 80.00% | ||||||||||||||||||
Percentage of the amount of bills receivable | 90.00% | 90.00% | ||||||||||||||||||
Percentage of increase decrease in the amount of accounts receivable rate | 56.00% | 56.00% | ||||||||||||||||||
Percentage of increase decrease in the amount of unbilled receivable rate | 142.00% | 142.00% | ||||||||||||||||||
Short term loan | S/ | S/ 452,884 | 481,529 | ||||||||||||||||||
Tranche A [member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Outstanding line of credit | S/ 500 | $ 0.1 | S/ 400 | |||||||||||||||||
Percentage of the amount of Tranche A | 50.00% | 50.00% | ||||||||||||||||||
Tranche B [member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Outstanding line of credit | S/ 9,700 | $ 9.2 | ||||||||||||||||||
Norvial S.A. [member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Borrowings | S/ 138,000 | $ 42.3 | ||||||||||||||||||
Outstanding line of credit | S/ 152,500 | $ 42.1 | 142,200 | 42.9 | ||||||||||||||||
Percentage of economic rights | 48.80% | 48.80% | ||||||||||||||||||
Derecognized liability measured at amortized cost | 46 | |||||||||||||||||||
Liability recorded in other income and expense | 3.9 | |||||||||||||||||||
Liability measured at fair value | 42.1 | |||||||||||||||||||
Norvial S.A. [member] | Common Class B Shares [Member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Percentage of economic rights | 48.80% | |||||||||||||||||||
Financial stability framework agreement [Member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Line of credit facility, maximum amount outstanding during period | S/ 110,000 | $ 30.2 | ||||||||||||||||||
Banco santander loan [Member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Line of credit facility, maximum amount outstanding during period | S/ 85,900 | $ 23.7 | ||||||||||||||||||
Medium term loan credit agreement [member] | CS Peru Infrastructure Holdings LLC Loan [member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Term loan credit agreement | $ 35 | |||||||||||||||||||
Borrowings | S/ 93,200 | $ 25.7 | S/ 112,900 | 35 | ||||||||||||||||
Repayment of borrowings | $ 10 | |||||||||||||||||||
Ban Co De Credito Del Peru SA [Member] | Medium term loan credit agreement [member] | Terminales Del Peru Loan [Member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Term loan credit agreement | $ 46 | |||||||||||||||||||
Borrowings, adjustment to interest rate basis | 50.00% | 50.00% | ||||||||||||||||||
Borrowings | S/ 84,100 | $ 23.2 | ||||||||||||||||||
Borrowings, maturity | 2027 | 2027 | ||||||||||||||||||
Acquired contractual position percentage | 50.00% | 50.00% | ||||||||||||||||||
Loan amount disbursed to associates | $ 23 | |||||||||||||||||||
Maximum exposure limit | 80 | |||||||||||||||||||
Loan Facilities Repaid Term | 8 years | 8 years | ||||||||||||||||||
Term loan credit agreement to finance the investments committed | 30 | |||||||||||||||||||
Term loan credit agreement to finance the additional investments | $ 70 | |||||||||||||||||||
GMP [Member] | Medium term loan credit agreement [member] | Terminales Del Peru Loan [Member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Borrowings, adjustment to interest rate basis | 50.00% | 50.00% | ||||||||||||||||||
Borrowings | S/ 40,000 | $ 11 | ||||||||||||||||||
Borrowings, maturity | 2026 | 2026 | ||||||||||||||||||
Técnicas reunidas [Member] | Banco santander loan [Member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Borrowings | $ 23.7 | |||||||||||||||||||
Number of letter of credit | 2 | |||||||||||||||||||
Cumbra [Member] | Banco santander loan [Member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Short term loan | $ 23.7 | |||||||||||||||||||
Cumbra Peru S.A [member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Revolving line of credit for working capital | 33,600 | $ 1.6 | ||||||||||||||||||
Increase decrease in revolving line of credit | 14 | |||||||||||||||||||
Revolving line of credit for working capital | S/ 143,900 | 51.6 | ||||||||||||||||||
Issuance of performance bonds | 100 | |||||||||||||||||||
Issuance of performance bonds, addition | $ 50 | |||||||||||||||||||
Not more than six months after the closing date [member] | CS Peru Infrastructure Holdings LLC Loan [member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Borrowings, interest rate | 9.10% | |||||||||||||||||||
Not more than one year after the closing date [member] | CS Peru Infrastructure Holdings LLC Loan [member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Borrowings, interest rate | 9.35% | |||||||||||||||||||
Not more than thirty months after the closing date [member] | CS Peru Infrastructure Holdings LLC Loan [member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Borrowings, interest rate | 9.60% | |||||||||||||||||||
More than thirty months [member] | CS Peru Infrastructure Holdings LLC Loan [member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Borrowings, interest rate | 10.10% | |||||||||||||||||||
Libor [Member] | Banco santander loan [Member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Borrowings, interest rate | 8.00% | |||||||||||||||||||
Bottom of range [member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Borrowings, interest rate | 7.00% | 7.00% | 7.00% | 7.00% | ||||||||||||||||
Bottom of range [member] | Level 2 of fair value hierarchy [member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Borrowings, interest rate | 0.70% | 0.70% | 2.90% | 2.90% | ||||||||||||||||
Bottom of range [member] | Fixed interest rate [member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Borrowings, interest rate | 0.50% | 0.50% | 1.00% | 1.00% | ||||||||||||||||
Top of range [member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Borrowings, interest rate | 11.00% | 11.00% | 12.00% | 12.00% | ||||||||||||||||
Top of range [member] | Level 2 of fair value hierarchy [member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Borrowings, interest rate | 11.00% | 11.00% | 11.00% | 11.00% | ||||||||||||||||
Top of range [member] | Fixed interest rate [member] | ||||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||||||||
Borrowings, interest rate | 11.00% | 11.00% | 12.00% | 12.00% |
Borrowings - Summary of Bank Lo
Borrowings - Summary of Bank Loan (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, maturity | December 2027 | |
Current borrowings | S/ 452,884 | S/ 481,529 |
Non-current borrowings | 445,436 | 409,066 |
Bank loans [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Current borrowings | 409,272 | 445,289 |
Non-current borrowings | S/ 162,387 | 186,574 |
Bank loans [member] | Cumbra Peru S.A [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, maturity | 2022 | |
Current borrowings | S/ 222,924 | 170,798 |
Non-current borrowings | S/ 19,977 | 26,401 |
Bank loans [member] | UNNA Energia S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, maturity | 2027 | |
Current borrowings | S/ 24,950 | 30,367 |
Non-current borrowings | S/ 99,474 | 102,895 |
Bank loans [member] | AENZA SAA [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, maturity | 2022 | |
Current borrowings | S/ 51,977 | 112,854 |
Non-current borrowings | S/ 39,618 | |
Bank loans [member] | Adexus S.A.[member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, maturity | 2021 | |
Current borrowings | S/ 19,224 | 20,927 |
Non-current borrowings | 57,278 | |
Bank loans [member] | Viva Negocio Inmobiliario S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, maturity | 2022 | |
Current borrowings | S/ 90,197 | S/ 110,343 |
Non-current borrowings | S/ 3,318 | |
Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 7.00% | 7.00% |
Bottom of range [member] | Cumbra Peru S.A [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 2.00% | |
Bottom of range [member] | UNNA Energia S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 3.06% | |
Bottom of range [member] | AENZA SAA [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 9.10% | |
Bottom of range [member] | Adexus S.A.[member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 0.50% | |
Bottom of range [member] | Viva Negocio Inmobiliario S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 6.84% | |
Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 11.00% | 12.00% |
Top of range [member] | Cumbra Peru S.A [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 11.00% | |
Top of range [member] | UNNA Energia S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 6.04% | |
Top of range [member] | AENZA SAA [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 10.10% | |
Top of range [member] | Adexus S.A.[member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 1.15% | |
Top of range [member] | Viva Negocio Inmobiliario S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 11.00% |
Borrowings - Summary of Finance
Borrowings - Summary of Finance Lease Obligations (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of finance lease and operating lease by lessor [line items] | ||
Current finance lease liabilities | S/ 13,635 | S/ 10,357 |
Non-current finance lease liabilities | S/ 38,756 | 13,293 |
Adexus S.A.[member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Date of maturity | 2027 | |
Current finance lease liabilities | S/ 6,848 | 608 |
Non-current finance lease liabilities | S/ 31,557 | 62 |
Viva Negocio Inmobiliario S.A. [member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Date of maturity | 2023 | |
Current finance lease liabilities | S/ 4,617 | 4,297 |
Non-current finance lease liabilities | S/ 4,357 | 7,399 |
Cumbra Peru S.A [member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Date of maturity | 2023 | |
Current finance lease liabilities | S/ 2,021 | 3,395 |
Non-current finance lease liabilities | S/ 2,823 | 5,678 |
UNNA Energia S.A. [member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Interest rate | 6.28% | |
Date of maturity | 2022 | |
Current finance lease liabilities | S/ 149 | 1,511 |
Non-current finance lease liabilities | S/ 19 | 154 |
Concar S.A.C. [member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Date of maturity | 2020 | |
Current finance lease liabilities | S/ 546 | |
Bottom of range [member] | Adexus S.A.[member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Interest rate | 0.23% | |
Bottom of range [member] | Viva Negocio Inmobiliario S.A. [member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Interest rate | 7.79% | |
Bottom of range [member] | Cumbra Peru S.A [member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Interest rate | 4.80% | |
Bottom of range [member] | Concar S.A.C. [member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Interest rate | 4.30% | |
Top of range [member] | Adexus S.A.[member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Interest rate | 0.51% | |
Top of range [member] | Viva Negocio Inmobiliario S.A. [member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Interest rate | 9.04% | |
Top of range [member] | Cumbra Peru S.A [member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Interest rate | 7.67% | |
Top of range [member] | Concar S.A.C. [member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Interest rate | 5.05% |
Borrowings - Summary of Minimum
Borrowings - Summary of Minimum Payment by Maturity and Present Value of Finance Lease Obligations (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of finance lease agreements obligations [Line Items] | ||
Minimum finance lease payments payable | S/ 60,572 | S/ 28,315 |
Future financial charges on finance leases | (8,181) | (4,665) |
Present value of the obligations for finance lease contracts | 52,391 | 23,650 |
Maturity Period Less than One Year [member] | ||
Disclosure of finance lease agreements obligations [Line Items] | ||
Minimum finance lease payments payable | 16,287 | 11,438 |
Present value of the obligations for finance lease contracts | 13,635 | 10,357 |
Maturity Period Greater than One and Less than Five Year [member] | ||
Disclosure of finance lease agreements obligations [Line Items] | ||
Minimum finance lease payments payable | 35,770 | 16,877 |
Present value of the obligations for finance lease contracts | 30,635 | 13,293 |
Maturity Period Greater than Five Year [member] | ||
Disclosure of finance lease agreements obligations [Line Items] | ||
Minimum finance lease payments payable | 8,515 | 0 |
Present value of the obligations for finance lease contracts | S/ 8,121 | S/ 0 |
Borrowings - Summary of Present
Borrowings - Summary of Present value of Finance Lease Obligations (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of finance lease agreements obligations [Line Items] | ||
Present value of finance lease obligations | S/ 52,391 | S/ 23,650 |
Maturity Period Less than One Year [member] | ||
Disclosure of finance lease agreements obligations [Line Items] | ||
Present value of finance lease obligations | 13,635 | 10,357 |
Maturity Period Greater than One and Less than Five Year [member] | ||
Disclosure of finance lease agreements obligations [Line Items] | ||
Present value of finance lease obligations | 30,635 | 13,293 |
Maturity Period Greater than Five Year [member] | ||
Disclosure of finance lease agreements obligations [Line Items] | ||
Present value of finance lease obligations | S/ 8,121 | S/ 0 |
Borrowings - Summary of Lease L
Borrowings - Summary of Lease Liability for Right-of-use Asset (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Lease liabilities [Line Items] | ||
Current | S/ 19,950 | S/ 23,980 |
Non-current | S/ 52,776 | 68,890 |
UNNA Energia S.A. [member] | ||
Disclosure Of Lease liabilities [Line Items] | ||
Date of maturity | 2023 | |
Current | S/ 6,765 | 10,584 |
Non-current | S/ 2,926 | 10,261 |
UNNA Energia S.A. [member] | Bottom of range [member] | ||
Disclosure Of Lease liabilities [Line Items] | ||
Interest rate | 6.59% | |
UNNA Energia S.A. [member] | Top of range [member] | ||
Disclosure Of Lease liabilities [Line Items] | ||
Interest rate | 7.80% | |
AENZA SAA [Member] | ||
Disclosure Of Lease liabilities [Line Items] | ||
Interest rate | 7.88% | |
Date of maturity | 2027 | |
Current | S/ 6,534 | 4,888 |
Non-current | S/ 41,403 | 50,362 |
Adexus S.A.[member] | ||
Disclosure Of Lease liabilities [Line Items] | ||
Date of maturity | 2025 | |
Current | S/ 3,408 | 5,734 |
Non-current | S/ 5,656 | 6,920 |
Adexus S.A.[member] | Bottom of range [member] | ||
Disclosure Of Lease liabilities [Line Items] | ||
Interest rate | 0.25% | |
Adexus S.A.[member] | Top of range [member] | ||
Disclosure Of Lease liabilities [Line Items] | ||
Interest rate | 0.50% | |
Cumbra Peru S.A [member] | ||
Disclosure Of Lease liabilities [Line Items] | ||
Interest rate | 7.65% | |
Date of maturity | 2022 | |
Current | S/ 852 | 1,592 |
Non-current | S/ 426 | 541 |
Concar S.A.C. [member] | ||
Disclosure Of Lease liabilities [Line Items] | ||
Interest rate | 5.55% | |
Date of maturity | 2024 | |
Current | S/ 2,047 | 1,171 |
Non-current | S/ 1,925 | 806 |
Cumbra Ingenieria S.A. [member] | ||
Disclosure Of Lease liabilities [Line Items] | ||
Interest rate | 7.40% | |
Date of maturity | 2023 | |
Current | S/ 302 | |
Non-current | S/ 381 | |
Tren Urbano de Lima S.A.[member] | ||
Disclosure Of Lease liabilities [Line Items] | ||
Interest rate | 10.00% | |
Date of maturity | 2023 | |
Current | S/ 42 | |
Non-current | S/ 59 | |
Other minors [member] | ||
Disclosure Of Lease liabilities [Line Items] | ||
Date of maturity | 2020 | |
Current | S/ 11 | |
Other minors [member] | Bottom of range [member] | ||
Disclosure Of Lease liabilities [Line Items] | ||
Interest rate | 6.31% | |
Other minors [member] | Top of range [member] | ||
Disclosure Of Lease liabilities [Line Items] | ||
Interest rate | 10.00% |
Borrowings - Summary of Minim_2
Borrowings - Summary of Minimum Payment by Maturity and the Present Value of the Lease Liability for Right-of-use Asset Obligations (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Future Minimum Lease Payments [Line Items] | ||
Undiscounted Future Minimum Lease Payments | S/ 87,698 | S/ 115,957 |
Future financial charges | (14,972) | (23,087) |
Present value of the lease liability for right-of-use asset obligations | 72,726 | 92,870 |
Maturity Period Less than One Year [member] | ||
Disclosure Of Future Minimum Lease Payments [Line Items] | ||
Undiscounted Future Minimum Lease Payments | 24,714 | 31,036 |
Present value of the lease liability for right-of-use asset obligations | 19,950 | 23,981 |
Maturity Period Greater than One and Less than Five Year [member] | ||
Disclosure Of Future Minimum Lease Payments [Line Items] | ||
Undiscounted Future Minimum Lease Payments | 51,853 | 73,370 |
Present value of the lease liability for right-of-use asset obligations | 42,641 | 57,713 |
Maturity Period Greater than Five Year [member] | ||
Disclosure Of Future Minimum Lease Payments [Line Items] | ||
Undiscounted Future Minimum Lease Payments | 11,131 | 11,551 |
Present value of the lease liability for right-of-use asset obligations | S/ 10,135 | S/ 11,176 |
Borrowings - Summary of Prese_2
Borrowings - Summary of Present Value of Lease Liability for Right-of-use Asset (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Future Minimum Lease Payments [Line Items] | ||
Lease liability for right-of-use asset | S/ 72,726 | S/ 92,870 |
Maturity Period Less than One Year [member] | ||
Disclosure Of Future Minimum Lease Payments [Line Items] | ||
Lease liability for right-of-use asset | 19,950 | 23,981 |
Maturity Period Greater than One and Less than Five Year [member] | ||
Disclosure Of Future Minimum Lease Payments [Line Items] | ||
Lease liability for right-of-use asset | 42,641 | 57,713 |
Maturity Period Greater than Five Year [member] | ||
Disclosure Of Future Minimum Lease Payments [Line Items] | ||
Lease liability for right-of-use asset | S/ 10,135 | S/ 11,176 |
Borrowings - Summary of Carryin
Borrowings - Summary of Carrying Amount and Fair Value of Borrowings (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [line items] | ||
Carrying amount | S/ 898,320 | S/ 890,595 |
Carrying amount [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Carrying amount | 898,320 | 890,595 |
Carrying amount [member] | Bank Loan [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Carrying amount | 571,659 | 631,863 |
Carrying amount [member] | Finance Lease [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Carrying amount | 52,391 | 23,650 |
Carrying amount [member] | Lease liability for right-of-use asset [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Carrying amount | 72,726 | 92,870 |
Carrying amount [member] | Other financial liabilities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Carrying amount | 201,544 | 142,212 |
At fair value [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Carrying amount | 980,716 | 925,586 |
At fair value [member] | Bank Loan [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Carrying amount | 589,737 | 650,224 |
At fair value [member] | Finance Lease [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Carrying amount | 54,343 | 23,697 |
At fair value [member] | Lease liability for right-of-use asset [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Carrying amount | 88,779 | 109,453 |
At fair value [member] | Other financial liabilities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Carrying amount | S/ 247,857 | S/ 142,212 |
Bonds - Summary of Bonds Issued
Bonds - Summary of Bonds Issued (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of detailed information about borrowings [line items] | ||||
Total | S/ 932,759 | S/ 924,042 | ||
Current | 58,446 | 44,737 | ||
Non-current | 874,313 | 879,305 | ||
Tren Urbano de Lima S.A.[member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Total | 624,454 | 618,497 | ||
Current | 21,081 | 15,742 | ||
Non-current | 603,373 | 602,755 | ||
Norvial S.A. [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Total | 280,848 | 305,545 | S/ 325,382 | S/ 343,910 |
Current | 32,819 | 28,995 | ||
Non-current | 248,029 | S/ 276,550 | ||
Cumbra Peru S.A [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Total | 27,457 | |||
Current | 4,546 | |||
Non-current | S/ 22,911 |
Bonds - Additional Information
Bonds - Additional Information (Detail) S/ in Millions, $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Feb. 28, 2015PEN (S/) | Mar. 31, 2020PEN (S/) | Mar. 31, 2020USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2019PEN (S/) | Dec. 31, 2016PEN (S/) | Dec. 31, 2020USD ($) | Jan. 01, 2020USD ($) | |
Disclosure of detailed information about borrowings [line items] | ||||||||
Maturity period of bonds | December 2027 | |||||||
Fair value of bonds | S/ 304.7 | S/ 327.2 | ||||||
Top of range [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate | 11.00% | 12.00% | 11.00% | |||||
Top of range [member] | Level 2 of fair value hierarchy [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate | 11.00% | 11.00% | 11.00% | |||||
Discounted cash flows rates | 8.07% | 7.59% | ||||||
Bottom of range [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate | 7.00% | 7.00% | 7.00% | |||||
Bottom of range [member] | Level 2 of fair value hierarchy [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate | 0.70% | 2.90% | 0.70% | |||||
Discounted cash flows rates | 6.73% | 6.20% | ||||||
GyM Ferrovias S.A. [member] | Level 2 of fair value hierarchy [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Fair value of bonds | S/ 710.0 | S/ 686.8 | ||||||
Discounted cash flows rates | 3.60% | 4.32% | ||||||
Norvial S.A. [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Issue of corporate bonds | S/ 365.0 | |||||||
Tren Urbano de Lima S.A. [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Issue of corporate bonds | S/ 629.0 | |||||||
Maturity period of bonds | November 2039 | |||||||
Interest rate | 4.75% | |||||||
Bonds amortized | S/ 90.6 | S/ 79.0 | ||||||
Accrued interest and VAC adjustments payable | S/ 103.4 | S/ 86.8 | ||||||
Cumbra Peru S.A. [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Issue of corporate bonds | S/ 25.9 | $ 7.8 | ||||||
Interest rate | 8.50% | 8.50% | ||||||
Maximum amount of bond can be borrowed | $ | $ 8 | |||||||
accrued interest payable | S/ 2.2 | $ 0.6 | ||||||
Cumbra Peru S.A. [Member] | Level 3 of fair value hierarchy [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Fair value of bonds | S/ 28.6 | |||||||
Discounted cash flows rates | 7.14% |
Bonds - Rollforwards of Bonds (
Bonds - Rollforwards of Bonds (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about borrowings [line items] | |||
Balance at January, 1 | S/ 924,042 | ||
Balance at December, 31 | 932,759 | S/ 924,042 | |
GyM Ferrovias S.A. [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Balance at January, 1 | 618,497 | 611,660 | S/ 603,657 |
Amortization | (11,582) | (11,330) | (10,178) |
Accrued interest | 47,615 | 48,253 | 48,130 |
Interest paid | (30,076) | (30,086) | (29,949) |
Balance at December, 31 | 624,454 | 618,497 | 611,660 |
Norvial S.A. [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Balance at January, 1 | 305,545 | 325,382 | 343,910 |
Amortization | (24,820) | (20,005) | (18,736) |
Accrued interest | 24,619 | 23,482 | 24,170 |
Capitalized interest | 2,725 | 3,361 | |
Interest paid | (24,496) | (26,039) | (27,323) |
Balance at December, 31 | S/ 280,848 | S/ 305,545 | S/ 325,382 |
Trade Accounts Payable - Summar
Trade Accounts Payable - Summary of Trade Accounts Payable (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Statement Of Table [Line Items] | ||
Invoices payable | S/ 470,118 | S/ 398,347 |
Provision of contract costs | 659,299 | 758,116 |
Notes payable | 8,252 | 37,426 |
Trade accounts payable | 1,097,167 | 1,159,075 |
Current [member] | ||
Statement Of Table [Line Items] | ||
Invoices payable | 470,118 | 363,533 |
Provision of contract costs | 618,797 | 758,116 |
Notes payable | 8,252 | 37,426 |
Trade accounts payable | 1,097,167 | 1,159,075 |
Non Current [Member] | ||
Statement Of Table [Line Items] | ||
Invoices payable | 34,814 | |
Provision of contract costs | 40,502 | |
Trade accounts payable | S/ 40,502 | S/ 34,814 |
Trade Accounts Payable - Summ_2
Trade Accounts Payable - Summary of invoices payable (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | S/ 470,118 | S/ 398,347 |
Infrastructure [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 72,271 | 78,057 |
Infrastructure [member] | Linea 1 - Metro de Lima [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 18,992 | 15,125 |
Infrastructure [member] | Oil Services [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 33,085 | 46,932 |
Infrastructure [member] | Operation and maintenance - Roads [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 20,194 | 16,000 |
Engineering and Construction [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 331,719 | 228,124 |
Engineering and Construction [member] | Works and Consortiums [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 17,114 | 64,571 |
Engineering and Construction [member] | Talara Refinery [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 96,051 | 59,740 |
Engineering and Construction [member] | Engineering and Construction Works VyV-DSD S.A. [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 70,987 | 26,368 |
Engineering and Construction [member] | Project Quellaveco [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 55,107 | 26,589 |
Engineering and Construction [member] | Civil Works, Assembly and Electromechanics - Toquepala [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 10,325 | |
Engineering and Construction [member] | Engineering and Construction Works - Morelco S.A.S. [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 17,616 | 8,141 |
Engineering and Construction [member] | Generating Plant Machu Picchu [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 3,488 | 6,575 |
Engineering and Construction [member] | Project Mina Justa [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 14,190 | 12,267 |
Engineering and Construction [member] | Project Mina Gold Fields La Cima S.A. [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 10,353 | 5,302 |
Engineering and Construction [member] | Civil works, assembly and electromechanics—Acero Arequipa [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 2,428 | 5,421 |
Engineering and Construction [member] | Others [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 44,385 | 2,825 |
Real Estate [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | 18,056 | 26,072 |
Parent company operation [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Invoices payable | S/ 48,072 | S/ 66,094 |
Trade Accounts Payable - Summ_3
Trade Accounts Payable - Summary of provision of contract costs (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | S/ 659,299 | S/ 758,116 |
Infrastructure [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | 62,812 | 52,657 |
Infrastructure [member] | Linea 1 - Metro de Lima [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | 13,645 | 13,383 |
Infrastructure [member] | Oil Services [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | 18,140 | 20,512 |
Infrastructure [member] | Operation and maintenance - Roads [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | 31,027 | 18,762 |
Engineering and Construction [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | 524,944 | 679,091 |
Engineering and Construction [member] | Talara Refinery [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | 204,102 | 418,540 |
Engineering and Construction [member] | Engineering and Construction Works VyV-DSD S.A. [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | 106,186 | 68,140 |
Engineering and Construction [member] | Engineering and Construction Works - Morelco S.A.S. [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | 84,513 | 34,804 |
Engineering and Construction [member] | Project Quellaveco [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | 42,822 | 24,185 |
Engineering and Construction [member] | Project Mina Justa [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | 33,525 | 19,852 |
Engineering and Construction [member] | Mina Project Of Gold Fields La Cima SA [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | 12,670 | 15,050 |
Engineering and Construction [member] | Civil Works, Assembly and Electromechanics - Acero Arequipa [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | 5,222 | 17,382 |
Engineering and Construction [member] | Civil Works, Assembly and Electromechanics - Toquepala [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | 5,055 | |
Engineering and Construction [member] | Generating Plant Machu Picchu [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | 1,222 | 4,633 |
Engineering and Construction [member] | Others [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | 34,682 | 71,450 |
Real Estate [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | 24,509 | 13,573 |
Parent company operation [member] | ||
Disclosure Of Trade Accounts Payable [Line Items] | ||
Provision of contract costs | S/ 47,034 | S/ 12,795 |
Other Accounts Payable - Summar
Other Accounts Payable - Summary of Other Accounts Payable (Detail) S/ in Thousands | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2019PEN (S/) | Dec. 31, 2019USD ($) |
Disclosure Of Other Payables [line items] | ||||
Advances received from customers | S/ 309,590 | S/ 307,839 | ||
Salaries and other payable | 77,386 | 92,313 | ||
Put option liability on Morelco acquisition (Note 32-b) | 118,622 | 106,444 | ||
Third-party loans | 11,608 | 11,619 | ||
Other taxes payable | 115,862 | 108,457 | ||
Acquisition of non-controlling interest (Note 35-a) | 27,596 | 22,697 | ||
Guarantee deposits | 23,744 | 16,445 | ||
Provision of interest for debt with suppliers | $ | $ 16,425 | $ 16,055 | ||
Other accounts payables | $ | 54,470 | 100,394 | ||
Other payables | 901,638 | 965,964 | ||
Advances received from customers, current | 278,490 | 270,714 | ||
Salaries and other payable, current | 77,386 | 92,313 | ||
Put option liability on Morelco acquisition, current | 79,096 | 71,341 | ||
Third-party loans, current | 9,533 | 9,545 | ||
Other taxes payable, current | 102,240 | 88,248 | ||
Acquisition of non-controlling interest (Note 35-a), current | 27,596 | 22,697 | ||
Guarantee Deposits, Current | 23,744 | 16,445 | ||
Provision of interest for debt with suppliers, current | $ | 4,326 | |||
Other accounts payables, current | $ | 33,356 | 58,420 | ||
Other payables, current | 718,406 | 669,674 | ||
Advances received from customers, not current | 31,100 | 37,125 | ||
Payables related parties, not current | 36,297 | 22,583 | ||
Put option liability on Morelco acquisition (Note 33-b), not current | 39,526 | 35,103 | ||
Third-party loans, not current | 2,075 | 2,074 | ||
Other taxes payable, not current | 13,622 | 20,209 | ||
Provision of interest for debt with suppliers, non current | $ | 16,425 | 11,729 | ||
Other accounts payables, not current | $ | $ 21,114 | $ 41,974 | ||
Other payables, not current | 183,232 | 296,290 | ||
Consorcio Ductos del Sur payable [member] | ||||
Disclosure Of Other Payables [line items] | ||||
Payables related parties | 88,206 | 148,076 | ||
Payables related parties, current | 28,836 | |||
Payables related parties, not current | 59,370 | 148,076 | ||
Consorcio Rio Mantaro [member] | ||||
Disclosure Of Other Payables [line items] | ||||
Payables related parties | 58,129 | 35,625 | ||
Payables related parties, current | S/ 58,129 | S/ 35,625 |
Other Accounts Payable - Summ_2
Other Accounts Payable - Summary of Advances Details From Customers (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Other Payables [line items] | ||
Total | S/ 309,590 | S/ 307,839 |
Current | 278,490 | 270,714 |
Non-current | 31,100 | 37,125 |
Advances Customers Consortiums [member] | ||
Disclosure Of Other Payables [line items] | ||
Total | 83,640 | 115,250 |
Current | 83,640 | 113,093 |
Non-current | 2,157 | |
Customer advances for real estate projects [member] | ||
Disclosure Of Other Payables [line items] | ||
Total | 78,286 | 66,258 |
Current | 78,286 | 66,258 |
Concentradora Norte - Quellaveco [member] | ||
Disclosure Of Other Payables [line items] | ||
Total | 86,415 | 64,118 |
Current | 71,571 | 44,932 |
Non-current | 14,844 | 19,186 |
Special National Transportation Infrastructure Project [member] | ||
Disclosure Of Other Payables [line items] | ||
Total | 24,050 | 42,030 |
Current | 13,781 | 26,534 |
Non-current | 10,269 | 15,496 |
Others [member] | ||
Disclosure Of Other Payables [line items] | ||
Total | 37,199 | 20,183 |
Current | 31,212 | 19,897 |
Non-current | S/ 5,987 | S/ 286 |
Other Accounts Payable - Additi
Other Accounts Payable - Additional Information (Detail) S/ in Millions | Dec. 31, 2020PEN (S/) |
Construction contracts 1 [member] | |
Disclosure Of Other Payables [line items] | |
Payment obligations to main subcontractors as a consequence of termination of GSP operations | S/ 235 |
Other Provisions - Summary of O
Other Provisions - Summary of Other Provisions (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of other provisions [line items] | ||
Provisions | S/ 429,366 | S/ 328,435 |
Provisions, current | 92,757 | 113,483 |
Provisions, not current | 336,609 | 214,952 |
Legal claims [member] | ||
Disclosure of other provisions [line items] | ||
Provisions | 375,596 | 272,274 |
Provisions, current | 80,456 | 101,266 |
Provisions, not current | 295,140 | 171,008 |
Tax claims [member] | ||
Disclosure of other provisions [line items] | ||
Provisions | 5,630 | 6,045 |
Provisions, current | 1,954 | 2,369 |
Provisions, not current | 3,676 | 3,676 |
Provision for decommissioning, restoration and rehabilitation costs [member] | ||
Disclosure of other provisions [line items] | ||
Provisions | 52,949 | 50,116 |
Provisions, current | 10,837 | 9,848 |
Provisions, not current | S/ 42,112 | S/ 40,268 |
Other Provisions - Additional I
Other Provisions - Additional Information (Detail) S/ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2019PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018PEN (S/) | Dec. 31, 2017PEN (S/) | |
Disclosure of other provisions [line items] | |||||||
Other provisions | S/ 429,366 | S/ 328,435 | S/ 109,608 | S/ 46,324 | |||
Litigation settlement | $ | $ 14,650,000 | ||||||
percentage of interest on litigation | 5.00% | 5.00% | |||||
Administrative process Indecopi [member] | |||||||
Disclosure of other provisions [line items] | |||||||
Present value of the estimated provision | S/ 24,000 | ||||||
Maximum estimated provision | 39,000 | ||||||
Cumbra Peru S.A [Member] | |||||||
Disclosure of other provisions [line items] | |||||||
Interest payable | 2,200 | $ 600,000 | |||||
Legal Claims Of Civil Labour Administrative Litigation Nature [Member] | |||||||
Disclosure of other provisions [line items] | |||||||
Estimated other provision | 76,000 | 68,500 | |||||
Legal proceedings provision [member] | |||||||
Disclosure of other provisions [line items] | |||||||
Present value of the estimated provision | 216,300 | 154,000 | |||||
Other provisions | 376,417 | 278,319 | S/ 84,728 | S/ 23,364 | |||
Termination of the Legal class action | $ | 20,000,000 | ||||||
Legal proceedings provision [member] | Cumbra Peru S.A [Member] | |||||||
Disclosure of other provisions [line items] | |||||||
Claims received from clients | 41,400 | 46,000 | |||||
Professional Liability [member]. | |||||||
Disclosure of other provisions [line items] | |||||||
Other provisions | 53,100 | S/ 49,800 | 14,700,000 | $ 15,000,000 | |||
Interest payable | 900 | $ 200,000 | |||||
Payments made towards other provisions | S/ 1,100 | $ 300,000 | |||||
Payments Covered By The Company | $ | $ 5,000,000 |
Other Provisions - Summary Gros
Other Provisions - Summary Gross Movement of Other Provisions (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [line items] | |||
Beginning balance | S/ 328,435 | S/ 109,608 | S/ 46,324 |
Additions | 132,801 | 228,719 | 78,947 |
Reversals of provisions | (33,264) | (7,471) | (6,218) |
Deconsolidation of subsidiaries | (2,340) | ||
Reclasification | 1,079 | ||
Payments | (9,051) | (2,178) | (6,615) |
Translation adjustments | 9,366 | (243) | (490) |
Ending balance | 429,366 | 328,435 | 109,608 |
Legal proceedings provision [member] | |||
Disclosure of other provisions [line items] | |||
Beginning balance | 278,319 | 84,728 | 23,364 |
Additions | 128,169 | 197,721 | 75,369 |
Reversals of provisions | (33,264) | (3,122) | (4,875) |
Deconsolidation of subsidiaries | (2,340) | ||
Reclasification | 1,079 | ||
Payments | (7,252) | (914) | (6,615) |
Translation adjustments | 9,366 | (94) | (175) |
Ending balance | 376,417 | 278,319 | 84,728 |
Contingent liabilities [member] | |||
Disclosure of other provisions [line items] | |||
Beginning balance | 4,498 | 6,156 | |
Reversals of provisions | (4,349) | (1,343) | |
Translation adjustments | (149) | (315) | |
Ending balance | 4,498 | ||
Provision for decommissioning, restoration and rehabilitation costs [member] | |||
Disclosure of other provisions [line items] | |||
Beginning balance | 50,116 | 20,382 | 16,804 |
Additions | 4,632 | 30,998 | 3,578 |
Reversals of provisions | 0 | ||
Payments | (1,799) | (1,264) | |
Ending balance | S/ 52,949 | S/ 50,116 | S/ 20,382 |
Equity - Additional Information
Equity - Additional Information (Detail) - PEN (S/) | 12 Months Ended | ||||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2014 | Apr. 02, 2019 | Dec. 31, 2013 | |
Disclosure of classes of share capital [line items] | |||||||
Capital increase shares subscribed | 142,483,663 | ||||||
Authorized capital | S/ 871,917,855 | ||||||
Number of equity shares per American Depository Shares | S/ 5 | ||||||
Quoted share price | S/ 1.72 | S/ 1.70 | |||||
Trading frequency, percentage | 95.65% | 95.24% | |||||
Percentage of net profit transferred to legal reserve | 10.00% | ||||||
Maximum allowed percentage to legal reserve to paid-in capital | 20.00% | ||||||
Voluntary reserve | S/ 29,974,000 | S/ 29,974,000 | |||||
Excess of total income obtained by shares issued over nominal value | S/ 138,100,000 | S/ 1,055,500,000 | |||||
Dividend rate percentage | 6.80% | 4.10% | |||||
Acquisition of non controlling interest | S/ 600,000 | ||||||
Ordinary shares [member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Number of shares | 38,172,610 | 218,043,480 | |||||
American depository shares [member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Number of shares | 190,863,050 | 43,608,696 | |||||
2017 and onwards [member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Dividend rate percentage | 5.00% |
Equity - Summary of Company's C
Equity - Summary of Company's Corporte Structure (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of classes of share capital [line items] | |
Number of shareholders | 1,747 |
Total percentage of interest | 100.00% |
Upto one percent [member] | |
Disclosure of classes of share capital [line items] | |
Number of shareholders | 1,728 |
Total percentage of interest | 13.27% |
From one point zero one percent to five percent [member] | |
Disclosure of classes of share capital [line items] | |
Number of shareholders | 14 |
Total percentage of interest | 27.98% |
From five point zero one percent to ten percent [member] | |
Disclosure of classes of share capital [line items] | |
Number of shareholders | 2 |
Total percentage of interest | 13.38% |
Over Ten Percent [member] | |
Disclosure of classes of share capital [line items] | |
Number of shareholders | 3 |
Total percentage of interest | 45.37% |
Deferred Income Tax - Summary o
Deferred Income Tax - Summary of Deferred Income Tax (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of deferred income taxes [line items] | ||||
Deferred income tax asset | S/ 262,165 | S/ 271,719 | ||
Deferred income tax liability | (102,907) | (112,734) | ||
Deferred income tax asset, net | 159,258 | 158,985 | S/ 365,263 | S/ 364,225 |
Up to 1 year [member] | ||||
Disclosure of deferred income taxes [line items] | ||||
Deferred income tax asset | 44,780 | 37,927 | ||
Deferred income tax liability | (1,261) | (19,791) | ||
Later than one year [member] | ||||
Disclosure of deferred income taxes [line items] | ||||
Deferred income tax asset | 217,385 | 233,792 | ||
Deferred income tax liability | S/ (101,646) | S/ (92,943) |
Deferred Income Tax - Summary_2
Deferred Income Tax - Summary of Gross Movement of Deferred Income Tax Item (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Beginning balance | S/ 158,985 | S/ 365,263 | S/ 364,225 |
Debit (credit) to income statement (Note 29) | (5,310) | (188,509) | 28,462 |
Adjustment for changes in rates of income tax | (622) | (1,524) | |
Sale of a subsidiary | (24,135) | ||
IFRIC 23 adoption | (986) | ||
Debit (credit) to equity | (3) | (95) | |
Other movements | 5,583 | (16,158) | (1,670) |
Ending balance | S/ 159,258 | S/ 158,985 | S/ 365,263 |
Deferred Income Tax - Summary_3
Deferred Income Tax - Summary of Movements of Deferred Tax Assets and Liabilities (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | S/ 158,985 | S/ 365,263 | S/ 364,225 |
(Debit) credit to P&L | (5,310) | (188,509) | 28,462 |
Debit (credit) to equity | (3) | (95) | |
Reclassification | (2,395) | ||
Sale of subsidiaries | 24,135 | ||
Ending balance | 159,258 | 158,985 | 365,263 |
Difference in depreciation rates [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 91,490 | 81,553 | 165,851 |
(Debit) credit to P&L | (4,565) | 9,937 | (76,246) |
Reclassification | 1,063 | ||
Sale of subsidiaries | (8,052) | ||
Ending balance | 87,988 | 91,490 | 81,553 |
Deferred income [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 24,145 | 13,574 | |
(Debit) credit to P&L | (8,239) | 10,571 | 13,574 |
Ending balance | 15,906 | 24,145 | 13,574 |
Deferred income tax liability work in process [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 38,859 | 5,456 | 2,530 |
(Debit) credit to P&L | (16,740) | 33,403 | 2,926 |
Reclassification | (4,916) | ||
Ending balance | 17,203 | 38,859 | 5,456 |
Tax receivable [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 36,190 | 32,878 | 32,189 |
(Debit) credit to P&L | 2,836 | 3,312 | 689 |
Ending balance | 39,026 | 36,190 | 32,878 |
Borrowing costs capitalized [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 14,936 | 15,716 | 19,945 |
(Debit) credit to P&L | 172 | (780) | (4,229) |
Ending balance | 15,108 | 14,936 | 15,716 |
PPA [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 9,823 | (1,562) | 15,338 |
(Debit) credit to P&L | 357 | 11,385 | (12,479) |
Reclassification | (1,263) | ||
Sale of subsidiaries | (4,421) | ||
Ending balance | 8,917 | 9,823 | (1,562) |
Others [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 39,566 | 20,745 | 9,357 |
(Debit) credit to P&L | (18,891) | 18,821 | 9,263 |
Reclassification | 2,721 | ||
Sale of subsidiaries | 2,125 | ||
Ending balance | 23,396 | 39,566 | 20,745 |
Deferred Tax Liabilities [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 255,009 | 168,360 | 245,210 |
(Debit) credit to P&L | (45,070) | 86,649 | (66,502) |
Reclassification | (2,395) | ||
Sale of subsidiaries | (10,348) | ||
Ending balance | 207,544 | 255,009 | 168,360 |
Provisions [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 43,376 | 42,572 | 52,439 |
(Debit) credit to P&L | (38,130) | 804 | (1,336) |
Reclassification | 24,340 | ||
Sale of subsidiaries | (8,531) | ||
Ending balance | 29,586 | 43,376 | 42,572 |
Accelerated tax depreciation [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 8,433 | 921 | 86,651 |
(Debit) credit to P&L | 374 | 7,512 | (82,065) |
Reclassification | (1,154) | ||
Sale of subsidiaries | (3,665) | ||
Ending balance | 7,653 | 8,433 | 921 |
Tax losses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 191,646 | 178,289 | 144,089 |
(Debit) credit to P&L | (8,767) | 14,343 | 32,952 |
Reclassification | 3,616 | ||
Sale of subsidiaries | (986) | 1,248 | |
Ending balance | 186,495 | 191,646 | 178,289 |
Deferred income tax asset work in process [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 45,720 | 34,005 | 39,487 |
(Debit) credit to P&L | (12,298) | 11,715 | (5,482) |
Reclassification | (28,630) | ||
Ending balance | 4,792 | 45,720 | 34,005 |
Accrual for unpaid vacations [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 11,624 | 9,782 | 13,440 |
(Debit) credit to P&L | 1,416 | 1,842 | 2,529 |
Sale of subsidiaries | (6,187) | ||
Ending balance | 13,040 | 11,624 | 9,782 |
Provision deterioration [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 48,502 | 253,767 | 224,780 |
(Debit) credit to P&L | 3,257 | (205,265) | 35,289 |
Reclassification | (507) | ||
Sale of subsidiaries | (6,302) | ||
Ending balance | 51,252 | 48,502 | 253,767 |
NIIF 9 [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 46,804 | ||
(Debit) credit to P&L | (10,874) | 46,804 | |
Reclassification | 10,067 | ||
Ending balance | 45,997 | 46,804 | |
Tax goodwill [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 13,522 | 18,048 | 20,413 |
(Debit) credit to P&L | (4,518) | (4,526) | (2,365) |
Reclassification | 4,989 | ||
Ending balance | 13,993 | 13,522 | 18,048 |
Other [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 4,367 | (3,761) | 28,136 |
(Debit) credit to P&L | 19,160 | 24,289 | (19,086) |
Debit (credit) to equity | (3) | (95) | |
Reclassification | (15,116) | ||
Sale of subsidiaries | (11,046) | ||
Others | 5,583 | (16,158) | (1,670) |
Ending balance | 13,994 | 4,367 | (3,761) |
Deferred Tax Asset [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 413,994 | 533,623 | 609,435 |
(Debit) credit to P&L | (50,380) | (102,482) | (39,564) |
Debit (credit) to equity | (3) | (95) | |
Sale of subsidiaries | (986) | (34,483) | |
Others | 5,583 | (16,158) | (1,670) |
Ending balance | S/ 366,802 | S/ 413,994 | S/ 533,623 |
Deferred Income Tax - Additiona
Deferred Income Tax - Additional Information (Detail) S/ in Millions | Dec. 31, 2020PEN (S/) |
Deferred tax assets and liabilities [abstract] | |
Tax losses | S/ 646.6 |
Deferred Income Tax -Summary Of
Deferred Income Tax -Summary Of Tax Loss Carry forward (Detail) S/ in Thousands | 12 Months Ended |
Dec. 31, 2020PEN (S/) | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | S/ 646,600 |
Cumbra Peru S.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | S/ 354,381 |
Tax Loss Aplication Method | B |
Adexus [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | S/ 149,303 |
Tax Loss Aplication Method | N/A |
Transportadora de Gas Natural Comprimido Andino S.A.C. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | S/ 15,989 |
Tax Loss Aplication Method | B |
Viva GyM [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Statute of Limitations | 2022 |
GyM Chile S.p.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | S/ 4,236 |
Tax Loss Aplication Method | N/A |
Cucumbra Ingenieria S.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | S/ 3,052 |
Tax Loss Aplication Method | A |
GMI [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Statute of Limitations | 2025 |
GMP [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Statute of Limitations | 2025 |
Incolur DSD [Member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | S/ 1,507 |
Tax Loss Aplication Method | N/A |
AENZA SAA [Member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | S/ 1,014 |
Tax Loss Aplication Method | A |
Statute of Limitations | 2022 |
Qualys [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | S/ 162 |
Tax Loss Aplication Method | A |
Statute of Limitations | 2025 |
VyV-DSD S.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | S/ 103,886 |
Tax Loss Aplication Method | N/A |
Viva Negocio Inmobiliario S.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | S/ 9,454 |
Tax Loss Aplication Method | A |
UNNA Energia S.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | S/ 2,092 |
Tax Loss Aplication Method | A |
Survial S.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | S/ 1,526 |
Tax Loss Aplication Method | B |
Two thousand twenty [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | S/ 50,346 |
Two thousand twenty [member] | Cumbra Peru S.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 25,722 |
Two thousand twenty [member] | Cucumbra Ingenieria S.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 3,052 |
Two thousand twenty [member] | AENZA SAA [Member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 1,014 |
Two thousand twenty [member] | Qualys [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 162 |
Two thousand twenty [member] | VyV-DSD S.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 18,870 |
Two thousand twenty [member] | Survial S.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 1,526 |
Two thousand twenty one [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 51,742 |
Two thousand twenty one [member] | Cumbra Peru S.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 19,893 |
Two thousand twenty one [member] | VyV-DSD S.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 22,395 |
Two thousand twenty one [member] | Viva Negocio Inmobiliario S.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 9,454 |
Two thousand twenty two and later [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 544,514 |
Two thousand twenty two and later [member] | Cumbra Peru S.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 308,766 |
Two thousand twenty two and later [member] | Adexus [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 149,303 |
Two thousand twenty two and later [member] | Transportadora de Gas Natural Comprimido Andino S.A.C. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 15,989 |
Two thousand twenty two and later [member] | GyM Chile S.p.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 4,236 |
Two thousand twenty two and later [member] | Incolur DSD [Member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 1,507 |
Two thousand twenty two and later [member] | VyV-DSD S.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | 62,621 |
Two thousand twenty two and later [member] | UNNA Energia S.A. [member] | |
Disclosure Of Tax Loss Carryforwards [line items] | |
Application | S/ 2,092 |
Deferred Income Tax -Summary _2
Deferred Income Tax -Summary Of Tax Loss Carry forward (Parenthetical) (Detail) | 1 Months Ended | 12 Months Ended |
May 31, 2020 | Dec. 31, 2020 | |
Disclosure Of Tax Loss Carryforwards [abstract] | ||
Tax loss offset period from the date the loss is incurred | 5 years | 4 years |
Tax loss offset, percentage of net rent | 50.00% |
Workers' Profit Sharing - Summa
Workers' Profit Sharing - Summary of Worker's Profit Sharing (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure employees participation [line items] | |||
Workers profit sharing | S/ 2,170 | S/ 6,340 | S/ 7,862 |
Cost of sales of goods and services [member] | |||
Disclosure employees participation [line items] | |||
Workers profit sharing | 2,147 | 4,661 | 5,274 |
Administrative expenses [member] | |||
Disclosure employees participation [line items] | |||
Workers profit sharing | S/ 23 | S/ 1,679 | S/ 2,588 |
Costs And Expenses by Nature -
Costs And Expenses by Nature - Summary of Information about Expense by Nature (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Expense by Nature [line items] | |||
Services provided by third-parties | S/ 1,026,995 | S/ 1,566,051 | S/ 1,228,678 |
Salaries, wages and fringe benefits | 1,097,258 | 1,183,610 | 1,028,030 |
Purchase of goods | 608,497 | 942,666 | 862,940 |
Other management charges | 173,251 | 202,386 | 418,841 |
Depreciation | 98,504 | 112,318 | 97,849 |
Amortization | 98,621 | 107,499 | 108,671 |
Impairment of accounts receivable | 32,219 | 8,183 | 65,076 |
Taxes | 6,027 | 9,450 | 11,031 |
Impairment of property, plant and equipment | 4,950 | 3,907 | 5,468 |
Impairment of investments | 38 | 255 | |
Inventory recovery | (30) | (249) | (26,993) |
Total report reclassified | 3,146,330 | 4,136,076 | 3,799,591 |
Cost of goods and services [member] | |||
Expense by Nature [line items] | |||
Services provided by third-parties | 987,995 | 1,500,897 | 1,123,461 |
Salaries, wages and fringe benefits | 1,010,315 | 1,040,293 | 901,029 |
Purchase of goods | 608,424 | 942,633 | 862,940 |
Other management charges | 158,929 | 174,678 | 375,308 |
Depreciation | 90,146 | 108,066 | 91,249 |
Amortization | 94,483 | 101,810 | 101,378 |
Impairment of accounts receivable | 32,215 | 8,183 | 45,658 |
Taxes | 5,956 | 6,951 | 8,930 |
Impairment of property, plant and equipment | 4,950 | 3,907 | 5,468 |
Impairment of investments | 38 | 255 | |
Inventory recovery | (30) | (249) | (26,993) |
Total report reclassified | 2,993,421 | 3,887,424 | 3,488,428 |
Administrative expenses [member] | |||
Expense by Nature [line items] | |||
Services provided by third-parties | 39,000 | 65,154 | 105,217 |
Salaries, wages and fringe benefits | 86,943 | 143,317 | 127,001 |
Purchase of goods | 73 | 33 | |
Other management charges | 14,322 | 27,708 | 43,533 |
Depreciation | 8,358 | 4,252 | 6,600 |
Amortization | 4,138 | 5,689 | 7,293 |
Impairment of accounts receivable | 4 | 0 | 19,418 |
Taxes | 71 | 2,499 | 2,101 |
Total report reclassified | S/ 152,909 | S/ 248,652 | S/ 311,163 |
Costs And Expenses by Nature _2
Costs And Expenses by Nature - Summary of Wages, Salaries and Fringe Benefits (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Classes of employee benefits expense [abstract] | |||
Salaries | S/ 814,874 | S/ 853,579 | S/ 718,453 |
Statutory gratification | 91,189 | 93,262 | 87,984 |
Social contributions | 57,763 | 61,533 | 74,184 |
Employee's severance indemnities | 60,090 | 49,944 | 50,852 |
Vacations | 42,135 | 42,025 | 44,482 |
Workers' profit sharing (Note 25) | 2,170 | 6,340 | 7,862 |
Others | 29,037 | 76,927 | 44,213 |
Total | S/ 1,097,258 | S/ 1,183,610 | S/ 1,028,030 |
Costs And Expenses by nature _3
Costs And Expenses by nature - Summary of impairment of accounts receivable (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Impairment Of Accounts Receivable [line items] | |||
Impairment of accounts receivable | S/ 32,219 | S/ 8,183 | S/ 65,076 |
Trade receivables [member] | |||
Disclosure Of Impairment Of Accounts Receivable [line items] | |||
Impairment of accounts receivable | 19,772 | 955 | 3,065 |
Other accounts receivable [member] | |||
Disclosure Of Impairment Of Accounts Receivable [line items] | |||
Impairment of accounts receivable | 12,318 | 5,704 | 44,252 |
Trade receivables and due from related parties [member] | |||
Disclosure Of Impairment Of Accounts Receivable [line items] | |||
Impairment of accounts receivable | S/ 129 | S/ 1,524 | S/ 17,759 |
Financial Income and Expenses -
Financial Income and Expenses - Summary of Financial Income and Expenses (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Financial income: | |||
Interest on loans to third parties | S/ 863 | S/ 36,876 | S/ 27,060 |
Profit for present value of financial asset or financial liability | 32,734 | 30,408 | 9,786 |
Interest on short-term bank deposits | 2,457 | 4,770 | 3,811 |
Commissions and collaterals | 601 | 535 | 1,448 |
Others | 2,765 | 1,757 | 9,431 |
Finance income | 39,420 | 74,346 | 51,536 |
Interest expense: | |||
- Bank loans | 69,420 | 93,019 | 100,256 |
- Bonds | 26,771 | 26,113 | 27,388 |
- Loans from third parties | 12,612 | 16,275 | 32,431 |
- Right-of-use | 4,600 | 5,978 | |
- Financial lease | 3,139 | 2,218 | 3,768 |
Commissions and collaterals | 14,077 | 24,521 | 31,668 |
Loss for present value of financial asset or financial liability | 4,552 | 41,131 | 25,796 |
Exchange difference loss, net | 5,802 | 32,840 | 23,704 |
Derivative financial instruments | 64 | 92 | 268 |
Other financial expenses | 20,793 | 18,176 | 23,656 |
Less capitalized interest | (4,887) | (7,229) | (8,167) |
Finance costs | S/ 156,943 | S/ 253,134 | S/ 260,768 |
Other Income and Expenses, Ne_2
Other Income and Expenses, Net - Summary of Other Income and Expenses, Net (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Other income: | |||
Sale of assets | S/ 9,118 | S/ 12,748 | S/ 26,007 |
Sale of investments | 13,475 | ||
Penalty income | 1,168 | 984 | |
Supplier debt forgiveness | 14,545 | 19,026 | |
Recovery of provisions and impairments | 6,501 | 23,279 | |
Trademarks revaluation | 20,676 | ||
Profit from Mizuho Bank Ltd. agreement | 89,688 | ||
Present value of the liability from put option | 6,122 | ||
Others | 4,267 | 13,384 | 12,815 |
Other income | 35,599 | 179,785 | 58,419 |
Other expenditures: | |||
Asset impairment | 103,074 | 339,774 | |
Civil repair to the Peruvian Government | 64,571 | 69,150 | 73,500 |
Legal and tax litigation | 32,186 | 49,754 | |
Renegotiation of contract with suppliers | 4,889 | ||
Net cost of fixed assets disposal | 8,682 | 23,697 | 36,931 |
Present value of the call option | 2,326 | 4,697 | |
Provision for well closure | 112 | 4,055 | |
Administrative fine | 1,897 | 1,423 | |
Others | 708 | 26,729 | 13,842 |
Other expenditures | 218,445 | 519,279 | 124,273 |
Other expenses | S/ (182,846) | S/ (339,494) | S/ (65,854) |
Other Income and Expenses, Ne_3
Other Income and Expenses, Net - Summary of Other Income and Expenses, Net (Parenthetical) (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other income and expenses net [line items] | |||
Percentage of gains | 70.00% | ||
Impairment of accounts receivable | S/ 32,219 | S/ 8,183 | S/ 65,076 |
Impairment of accounts receivable | 500 | ||
Concessionaire Va Expresa Sur SA [member] | |||
Disclosure of other income and expenses net [line items] | |||
Impairment of accounts receivable | 55,800 | ||
CAM Holding SPA [member] | |||
Disclosure of other income and expenses net [line items] | |||
Impairment of accounts receivable | 12,500 | ||
Concar S.A.C [Member] | |||
Disclosure of other income and expenses net [line items] | |||
Impairment of accounts receivable | 33,800 | ||
GSP [member] | |||
Disclosure of other income and expenses net [line items] | |||
Impairment of accounts receivable | 276,000 | ||
Promotora Larcomar S.A. [member] | |||
Disclosure of other income and expenses net [line items] | |||
Impairment of accounts receivable | 18,200 | ||
Cumbra Peru S.A [member] | |||
Disclosure of other income and expenses net [line items] | |||
Impairment of accounts receivable | 35,400 | ||
Adexus [member] | |||
Disclosure of other income and expenses net [line items] | |||
Impairment of accounts receivable | S/ 10,100 | ||
Other subsidiaries [member] | |||
Disclosure of other income and expenses net [line items] | |||
Impairment of accounts receivable | S/ 100 |
Tax Situation - Additional Info
Tax Situation - Additional Information (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of Income Tax [Line items] | |||||
Current income tax payable | S/ 53,134 | S/ 114,240 | S/ 151,039 | ||
Impairment of investments | (38) | (374) | |||
Negocios Gas S.A [member] | |||||
Disclosure of Income Tax [Line items] | |||||
Impairment of investments | 67,000 | ||||
Cumbra Peru S.A [member] | |||||
Disclosure of Income Tax [Line items] | |||||
Impairment of accounts receivable | 7,700 | ||||
Concesionaria Vesur S.A. And Promotora Larcomar S.A [member] | |||||
Disclosure of Income Tax [Line items] | |||||
Impairment of work in progress | 10,800 | ||||
Tren Urbano de Lima S.A.[member] | |||||
Disclosure of Income Tax [Line items] | |||||
Current income tax payable | 22,000 | S/ 7,000 | |||
Inmobiliaria Almonte S.A.[member] | |||||
Disclosure of Income Tax [Line items] | |||||
Current income tax payable | 4,100 | ||||
Consorcio Vial Sierra [member] | |||||
Disclosure of Income Tax [Line items] | |||||
Current income tax payable | S/ 3,400 | ||||
Chile (member) | |||||
Disclosure of Income Tax [Line items] | |||||
Income tax rate | 27.00% | 27.00% | 27.00% | ||
Colombia (member) | |||||
Disclosure of Income Tax [Line items] | |||||
Income tax rate | 32.00% | 33.00% | 37.00% | ||
Withholding tax rate for payments in abroad | 20.00% | ||||
Withholding tax rate for payments to non resident | 20.00% | ||||
Withholding tax rate to payments for financial returns to non residents | 15.00% | ||||
Withholding tax rate to payments to the parent company | 33.00% | ||||
Increase in taxable income compared to previous year | 30.00% | ||||
Limitation for tax return description | In case of an increase in taxable income of 30% with respect to the previous year, for fiscal years 2020 and 2021, the statute of limitation of the returns would be six (6) months and in the case of a 20% increase year will be close at month twelve (12). | ||||
Peru [member] | |||||
Disclosure of Income Tax [Line items] | |||||
Income tax rate | 29.50% | 29.50% | 29.50% | ||
Tax rate applicable to net assets exceeding S/1 million | 0.40% | ||||
Current income tax payable | S/ 1,000 | ||||
Changes in tax rates or tax laws enacted or announced [member] | Colombia (member) | |||||
Disclosure of Income Tax [Line items] | |||||
Tax rate on foreign entities | 30.00% | 31.00% | 32.00% |
Tax Situation - Summary of Inco
Tax Situation - Summary of Income Tax Expense (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Major components of tax expense (income) [abstract] | |||
Current income tax | S/ 53,134 | S/ 114,240 | S/ 151,039 |
Deferred income tax (Note 24) | 5,310 | 189,131 | (26,938) |
Total | 58,444 | 303,371 | 124,101 |
(-) Discontinued operations | (13,108) | ||
Income tax | S/ 58,444 | S/ 303,371 | S/ 110,993 |
Tax Situation - Summary of Weig
Tax Situation - Summary of Weighted-Average Income Tax Rate Applicable To Pre-tax Income (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |||
Profit (loss) before income tax | S/ (131,900) | S/ (535,271) | S/ 124,005 |
Income tax by applying local applicable tax rates on profit generated in the respective countries | (39,719) | (157,744) | 37,823 |
Reversal of deferred income tax asset | 174,716 | 7,950 | |
Non-recoverable item | 85,301 | 19,794 | |
Non-deductible expenses | 49,580 | 84,620 | 70,411 |
Unrecognized deferred income tax asset | 24,930 | 82,424 | 8,592 |
Change in prior years estimations | 2,213 | 36,529 | 3,235 |
Provision of tax contingencies | 7,079 | (3,421) | |
Adjustment for changes in rates of income tax | (240) | 622 | 1,524 |
Non-taxable income | (22) | (1,195) | (1,691) |
Equity method (profit) loss | (227) | (64) | (1,094) |
Others | (2,394) | (8,917) | (7,807) |
Income tax | S/ 58,444 | S/ 303,371 | S/ 110,993 |
Tax Situation - Summary of We_2
Tax Situation - Summary of Weighted Average Pre-tax Profit or Loss and Applicable Income Tax Rate (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of weighted average pre-tax profit or loss and applicable income tax rate [line items] | |||
Pre - tax profit | S/ (131,900) | S/ (535,271) | S/ 124,005 |
Tax at statutory tax rate | S/ (39,719) | S/ (157,744) | S/ 37,823 |
Peru [member] | |||
Disclosure of weighted average pre-tax profit or loss and applicable income tax rate [line items] | |||
Statutory tax rate | 29.50% | 29.50% | 29.50% |
Pre - tax profit | S/ (132,192) | S/ (1,612,192) | S/ 151,627 |
Tax at statutory tax rate | S/ (38,997) | S/ (475,597) | S/ 44,730 |
Peru Norvial [member] | |||
Disclosure of weighted average pre-tax profit or loss and applicable income tax rate [line items] | |||
Statutory tax rate | 27.00% | 27.00% | 27.00% |
Pre - tax profit | S/ (2,029) | S/ 24,066 | S/ 21,104 |
Tax at statutory tax rate | S/ (548) | S/ 6,498 | S/ 5,698 |
Peru Tren Urbano De Lima SA [Member] | |||
Disclosure of weighted average pre-tax profit or loss and applicable income tax rate [line items] | |||
Statutory tax rate | 30.00% | 30.00% | 30.00% |
Pre - tax profit | S/ 87,521 | S/ 121,080 | S/ 125,136 |
Tax at statutory tax rate | S/ 26,256 | S/ 36,324 | S/ 37,541 |
Peru - Vía Expresa Sur [member] | |||
Disclosure of weighted average pre-tax profit or loss and applicable income tax rate [line items] | |||
Statutory tax rate | 30.00% | 30.00% | 30.00% |
Pre - tax profit | S/ (53,697) | S/ (17,752) | S/ 2,951 |
Tax at statutory tax rate | S/ (16,109) | S/ (5,326) | S/ 885 |
Peru Unna Energia SA [Member] | |||
Disclosure of weighted average pre-tax profit or loss and applicable income tax rate [line items] | |||
Statutory tax rate | 29.00% | 29.00% | 29.00% |
Pre - tax profit | S/ (1,930) | S/ 35,421 | S/ 35,421 |
Tax at statutory tax rate | S/ (540) | S/ 10,272 | S/ 10,272 |
Chile (member) | |||
Disclosure of weighted average pre-tax profit or loss and applicable income tax rate [line items] | |||
Statutory tax rate | 27.00% | 27.00% | 27.00% |
Pre - tax profit | S/ (15,282) | S/ (96,360) | S/ (30,710) |
Tax at statutory tax rate | S/ (4,126) | S/ (26,017) | S/ (8,292) |
Colombia (member) | |||
Disclosure of weighted average pre-tax profit or loss and applicable income tax rate [line items] | |||
Statutory tax rate | 32.00% | 33.00% | 37.00% |
Pre - tax profit | S/ (11,178) | S/ (11,824) | S/ 11,851 |
Tax at statutory tax rate | S/ (3,577) | S/ (3,902) | S/ 4,385 |
Colombia One [Member] | |||
Disclosure of weighted average pre-tax profit or loss and applicable income tax rate [line items] | |||
Statutory tax rate | 33.00% | ||
Pre - tax profit | S/ 1,984 | ||
Tax at statutory tax rate | S/ 655 | ||
Bolivia (member) | |||
Disclosure of weighted average pre-tax profit or loss and applicable income tax rate [line items] | |||
Statutory tax rate | 25.00% | 25.00% | 25.00% |
Pre - tax profit | S/ (13) | S/ 681 | S/ (137) |
Tax at statutory tax rate | (3) | S/ 170 | (34) |
Unrealized Gain (Loss) [member] | |||
Disclosure of weighted average pre-tax profit or loss and applicable income tax rate [line items] | |||
Statutory tax rate | 0.00% | ||
Pre - tax profit | (3,100) | S/ 1,021,609 | (195,222) |
Tax at statutory tax rate | (2,075) | 299,834 | S/ (58,017) |
Utility [member] | |||
Disclosure of weighted average pre-tax profit or loss and applicable income tax rate [line items] | |||
Pre - tax profit | (131,900) | (535,271) | |
Tax at statutory tax rate | S/ (38,379) | S/ (157,744) |
Other Comprehensive Income - Su
Other Comprehensive Income - Summary of Accumulated Other Comprehensive Income Loss (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | S/ 1,876,085 | S/ 2,489,931 | |
Ending balance | 1,595,296 | 1,876,085 | S/ 2,489,931 |
Reserve of cash flow hedges [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | 594 | 588 | 475 |
(Debit) credit for the year | (594) | 8 | 160 |
Tax effects | (2) | (47) | |
Other comprehensive income/loss of the year | (594) | 6 | 113 |
Ending balance | 594 | 588 | |
Reserve of exchange differences on translation [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (69,282) | (62,390) | (69,320) |
(Debit) credit for the year | 8,158 | (6,892) | (7,875) |
Transfer to profit or loss (*) | 14,805 | ||
Other comprehensive income/loss of the year | 8,158 | (6,892) | 6,930 |
Ending balance | (61,124) | (69,282) | (62,390) |
Reserve of gains and losses on remeasuring available-for-sale financial assets [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | 7,461 | 7,461 | 7,461 |
Ending balance | 7,461 | 7,461 | 7,461 |
Reserve of change in value of foreign currency basis spreads [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (9,954) | (9,954) | (1,962) |
(Debit) credit for the year | 708 | (10,800) | |
Tax effects | 2,808 | ||
Other comprehensive income/loss of the year | 708 | (7,992) | |
Ending balance | (9,246) | (9,954) | (9,954) |
Accumulated other comprehensive income [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (71,181) | (64,295) | (63,346) |
(Debit) credit for the year | 8,272 | (6,884) | (18,515) |
Tax effects | (2) | 2,761 | |
Transfer to profit or loss (*) | 14,805 | ||
Other comprehensive income/loss of the year | 8,272 | (6,886) | (949) |
Ending balance | S/ (62,909) | S/ (71,181) | S/ (64,295) |
Other Comprehensive Income - _2
Other Comprehensive Income - Summary of Accumulated Other Comprehensive Income Loss (Parenthetical) (Detail) S/ in Millions | 12 Months Ended |
Dec. 31, 2018PEN (S/) | |
CAM Chile S.A. [member] | |
Disclosure of analysis of other comprehensive income by item [line items] | |
Transfer to profit or loss (Note 10) | S/ 14.8 |
Other Comprehensive Income - _3
Other Comprehensive Income - Summary of Other Comprehensive Income Loss (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of analysis of other comprehensive income by item [line items] | |||
Other comprehensive income | S/ 8,386 | S/ (8,620) | S/ 14,294 |
Equity attributable to owners of parent [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Other comprehensive income | 8,272 | (6,886) | (949) |
Non-controlling interests [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Other comprehensive income | S/ 114 | S/ (1,734) | (1,346) |
Adjustment for actuarial gains and losses, net of tax [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Other comprehensive income | S/ 16,589 |
Contingencies Commitments and W
Contingencies Commitments and Warranties - Additional Information (Detail) S/ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2019PEN (S/) | |
Disclosure of commitments and contingencies [line items] | ||||
Letters of guarantee amount | $ | $ 427.5 | $ 390 | ||
Civil lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | S/ 99.0 | |||
Administrative lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 0.7 | |||
Contingency provision | 0.7 | |||
Labor lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 3 | |||
Contentious administrative lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 8.1 | |||
Income tax assessments [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingency provision | 14 | |||
Income tax assessments [member] | Tax Year 2009 and 2010 and 2013 [Member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingency provision | 12 | |||
Income tax assessments [member] | Top of range [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingency provision | 147.7 | |||
Income Tax And IGV Or VAT Tax [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingency provision | 3.9 | |||
Consorcio Terminales [member] | Contentious administrative lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 1.7 | |||
The company [member] | Administrative lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 1.2 | |||
Morelco SA [member] | Civil lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 1 | |||
Morelco SA [member] | Labor lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 1.2 | |||
Norvial S.A. [member] | Civil lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 5.4 | |||
Cumbra Peru S A [Member] | Civil lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 2.9 | |||
Cumbra Peru S A [Member] | Administrative lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 7.8 | S/ 5.5 | ||
Cumbra Peru S A [Member] | Contentious administrative lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 2.3 | |||
Cumbra Peru S A [Member] | Income tax assessments [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingency provision | 12.1 | |||
Cumbra Peru S A [Member] | Income tax assessments [member] | Tax Year 2012 [Member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingency provision | 40 | |||
Viva Negocio Inmobiliario S A [Member] | Civil lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 89.7 | |||
Viva Negocio Inmobiliario S A [Member] | Administrative lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 0.6 | |||
Viva Negocio Inmobiliario S A [Member] | Income tax assessments [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingency provision | 1.9 | |||
Viva Negocio Inmobiliario S A [Member] | Income tax assessments [member] | Tax Year 2009 and 2016 [Member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingency provision | 4.5 | |||
Cumbra Ingenieria SA [Member] | Income tax assessments [member] | Tax Year 2013 and 2016 [Member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingency provision | 6.4 | |||
UNNA Energia S A [Member] | Administrative lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 0.5 | |||
UNNA Energia S A [Member] | Labor lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 1.6 | |||
UNNA Energia S A [Member] | Contentious administrative lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 0.6 | |||
Tren Urbano De Lima S A [Member] | Contentious administrative lawsuits [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingent liabilities | 3.5 | |||
SUNAT [member] | Income tax assessments [member] | ||||
Disclosure of commitments and contingencies [line items] | ||||
Contingency provision | S/ 65.5 |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) S/ in Thousands, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2020PEN (S/) | Dec. 31, 2014PEN (S/) | Dec. 31, 2019PEN (S/) | Dec. 31, 2018PEN (S/) | Dec. 31, 2014USD ($) | Dec. 23, 2014 | |
Disclosure of detailed information about business combination [line items] | ||||||
Goodwill | S/ 58,946 | S/ 57,367 | S/ 93,288 | |||
Estimated liability | S/ 4,517,268 | 4,528,379 | ||||
Morelco S.A.S. [member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Percentage of interest in capital stock | 70.00% | |||||
Business combination consideration transferred | S/ 277,100 | $ 93.7 | ||||
Cash payments made for acquisition | $ | 78.5 | |||||
Contingent liabilities recognised in business combination | 45,700 | 15.1 | ||||
Goodwill | S/ 105,800 | $ 36.1 | ||||
Non-controlling interest, ownership interest | 30.00% | |||||
Price per share description | The price per share in each sale option shall be equal to the base price per share plus an interest charge. The base price per share shall be the result of dividing 5,375 times the EBITDA of the twelve (12) months prior to the date of receipt of the Notification of the option of sale by Cumbra Peru S.A. minus DFN, between (and) all of the shares at the date of receipt of the Notice of option of sale by Cumbra Peru S.A.; however, the corresponding base price per share shall not be less than the price per share corresponding to the purchase price [as that term is defined in the share sale Contract). The base price per Minimum action established in this Section 7.3 (c) shall not apply: (a) in a sale option that is triggered by the Cumbra Peru S.A. share provision to a third party, when the Cumbra Peru S.A. Stock provision does not result in a sale of the Company, and (b) in an Opt sales ion activated before an Exempt Operation. On the base price per share, remuneration interest will be caused at an annual interest rate composed of two point seventy percent (2.70%) as of (i) February 14, 2018 for option 1; (ii) December 31, 2019 for sale option 2 and (iii) in both cases, up to the effective payment date of the purchase contract price concluded as a result of the exercise of each sale option. | |||||
Morelco S.A.S. [member] | Purchased call options [member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Period over which shares of non-controlling interest be acquired | 10 years | |||||
Morelco S.A.S. [member] | Written put options [member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Estimated liability | S/ 118,600 | S/ 106,400 | ||||
Initial share holder selling option terms | As of December 31, 2020 and for a term of six (6) months, the initial shareholder may exercise a selling option, only once, for a number of shares held by the Initial shareholder equivalent to sixty-six point sixty-seven percent (66.67%) of the shares held by the Initial shareholder at the time of exercising the Low sale option this sub-clause (sale option 1). As of December 31, 2022 and for a term of six (6) months, the Initial shareholder may at any time exercise a sale option, for one time only, for the totality and not less than the totality of the shares held by the Initial shareholder at the time of exercising the sale option under this subclause, notwithstanding the foregoing, if Cumbra Peru S.A. does not fulfill its obligations subject to the option of sale 1 within the period indicated in paragraph b of this Section 7.3, the term established for the exercise of option 2 is accelerated and may be exercised by the Initial shareholder at any time after the day following expiration of said period by sending a Notification of the option of sale to Cumbra Peru S.A., so that in such event Cumbra Peru S.A. will only fulfill its obligations by purchasing one hundred (100%) of the shares held by the previous shareholder. |
Loss Per Share - Summary of Bas
Loss Per Share - Summary of Basic Earnings Per Share (Detail) - PEN (S/) S/ / shares in Units, S/ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Earnings per share [abstract] | ||||
Loss attributable to owners of the Company during the year | S/ (217,871) | S/ (884,721) | S/ (83,188) | |
Weighted average number of shares in issue at S/1.00 each, at December 31, | 871,917,855 | 822,213,119 | 665,835,490 | |
Basic loss per share (in S/) | [1] | S/ (0.250) | S/ (1.076) | S/ (0.125) |
Loss from continuing operations attributable to owners of the Company during the year | S/ (217,871) | S/ (884,721) | S/ (73,506) | |
Weighted average number of shares in issue at S/1.00 each, at December 31, | 871,917,855 | 822,213,119 | 665,835,490 | |
Basic loss per share (S/) | [1] | S/ (0.250) | S/ (1.076) | S/ (0.110) |
[1] | The Corporation does not have common shares with dilutive effects As of December 31, 2018, 2019 and 2020. |
Loss Per Share - Summary of B_2
Loss Per Share - Summary of Basic Earnings Per Share (Parenthetical) (Detail) - S/ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Earnings per share [abstract] | |||
Weighted average number of shares issued per share | S/ 1.00 | S/ 1.00 | S/ 1.00 |
Transactions with Non-control_3
Transactions with Non-controlling Interests - Additional Information (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2016 | Nov. 30, 2016 | May 31, 2016 | |
Non-controlling interests [line items] | |||||
Carrying amount of non controlling interests | S/ 600 | ||||
Acquisition of non-controlling interest | 27,596 | S/ 22,697 | |||
Dividends were distributed to the non-controlling interest | 82,400 | 12,800 | |||
GyM S.A. [member] | Vial y Vives - DSD S.A [member] | |||||
Non-controlling interests [line items] | |||||
Percentage of capital acquired | 1.49% | 6.77% | 5.43% | ||
Payment for acquisition of non-controlling interest | S/ 3,800 | S/ 25,700 | S/ 21,600 | ||
Carrying amount of non controlling interests | S/ 3,900 | S/ 17,900 | S/ 13,900 | ||
Increase (Decrease) through de-recognition of non-controlling interest equity | (15,400) | ||||
Acquisition of non-controlling interest | S/ 27,600 | S/ 22,700 |
Transactions with Non-control_4
Transactions with Non-controlling Interests - Summary of Contributions of Non-controlling Shareholders (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Non-controlling interests [line items] | |||
Contributions from other subsidiaries | S/ 15,120 | ||
Decrease in equity of non controlling parties | S/ (15,725) | S/ (32,996) | (69,322) |
Viva Negocio Inmobiliario S.A. [Member] | |||
Non-controlling interests [line items] | |||
Contributions received | 18 | 152 | 3,399 |
Returns of contributions | (15,743) | (33,148) | (87,841) |
Decrease in equity of non controlling parties | S/ (15,725) | S/ (32,996) | S/ (84,442) |
Operations of Subsidiary Adex_2
Operations of Subsidiary Adexus S.A. Reclassified as Continuing Operations - Additional Information (Detail) - Adexus S.A.[member] | Dec. 28, 2021 | Jan. 09, 2020 |
Disclosure of Operations of Subsidiary Adexus SA Reclassified as Continuing Operations [Line Items] | ||
Date of Approval of reorganization agreement by creditors | Dec. 28, 2021 | |
Nonadjusting Events new [Member] | ||
Disclosure of Operations of Subsidiary Adexus SA Reclassified as Continuing Operations [Line Items] | ||
Percentage of favorable vote for reorganization by pledge creditors | 80.00% | |
Percentage of favorable vote for reorganization by unsecured creditors | 85.00% | |
Time period to repay reorganized liabilities | 6 years |
Events After the Date of the _2
Events After the Date of the Statement of Financial Position - Additional Information (Detail) $ in Millions | Feb. 26, 2021USD ($) |
Disclosure of non-adjusting events after reporting period [line items] | |
Number of bonds issued | 32,721 |
Issuance of convertible bonds in shares [member] | |
Disclosure of non-adjusting events after reporting period [line items] | |
Total amount of convertible bonds issued | $ 32.7 |