Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2021shares | |
Document Information Line Items | |
Entity Registrant Name | AENZA S.A.A. |
Trading Symbol | AENZ |
Document Type | 20-F |
Current Fiscal Year End Date | --12-31 |
Entity Common Stock, Shares Outstanding | 871,917,855 |
Amendment Flag | false |
Entity Central Index Key | 0001572621 |
Entity Current Reporting Status | No |
Entity Voluntary Filers | No |
Entity Filer Category | Accelerated Filer |
Entity Well-known Seasoned Issuer | No |
Document Period End Date | Dec. 31, 2021 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
ICFR Auditor Attestation Flag | true |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Entity File Number | 001-35991 |
Contact Personnel Name | N/A |
Entity Incorporation, State or Country Code | R5 |
Entity Address, Address Line One | Av. Petit Thouars 4957 |
Entity Address, City or Town | Miraflores |
Entity Address, Postal Zip Code | 34 |
Entity Address, Country | PE |
Title of 12(b) Security | Common Shares, par value s/1.00 per share |
Security Exchange Name | NYSE |
Entity Interactive Data Current | Yes |
Document Accounting Standard | International Financial Reporting Standards |
Document Shell Company Report | false |
Auditor Firm ID | 6006 |
Auditor Name | Moore Assurance S.A.S |
Auditor Location | Bogotá, Colombia |
Business Contact [Member] | |
Document Information Line Items | |
Contact Personnel Name | Daniel Urbina Pérez |
Entity Address, Address Line One | Av. Petit Thouars 4957 |
Entity Address, City or Town | Miraflores |
Entity Address, Postal Zip Code | 34 |
Entity Address, Country | PE |
City Area Code | 011 |
Local Phone Number | 51-1-213-6565 |
Contact Personnel Email Address | relacion.inversionistas@aenza.com.pe |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets | ||
Cash and cash equivalents | S/ 957,178 | S/ 900,168 |
Trade accounts receivables, net | 590,280 | 687,514 |
Work in progress | 309,063 | 186,433 |
Accounts receivable from related parties | 20,817 | 27,338 |
Other accounts receivable | 487,058 | 404,743 |
Inventories, net | 488,326 | 552,000 |
Prepaid expenses | 32,142 | 22,972 |
Total current assets | 2,884,864 | 2,781,168 |
Non-current assets | ||
Trade accounts receivable, net | 683,306 | 689,293 |
Accounts receivable from related parties | 643,897 | 620,071 |
Prepaid expenses | 23,607 | 22,264 |
Other accounts receivable | 201,360 | 328,223 |
Investments in associates and joint ventures | 31,173 | 35,516 |
Investment property | 63,011 | 26,073 |
Property, plant and equipment, net | 303,170 | 405,469 |
Intangible assets, net | 743,391 | 791,990 |
Right-of-use assets, net | 47,717 | 64,518 |
Deferred income tax asset | 275,076 | 262,165 |
Total non-current assets | 3,015,708 | 3,245,582 |
Total assets | 5,900,572 | 6,026,750 |
Current liabilities | ||
Borrowings | 241,340 | 452,884 |
Bonds | 69,838 | 58,446 |
Trade accounts payable | 980,767 | 1,064,416 |
Accounts payable to related parties | 51,004 | 43,818 |
Current income tax | 94,958 | 34,494 |
Other accounts payable | 754,981 | 706,716 |
Other provisions | 154,829 | 92,757 |
Total current liabilities | 2,347,717 | 2,453,531 |
Non-current liabilities | ||
Borrowings | 338,560 | 445,436 |
Bonds | 1,191,084 | 874,313 |
Trade accounts payable | 40,502 | |
Other accounts payable | 92,369 | 183,232 |
Accounts payable to related parties | 50,712 | 36,297 |
Other provisions | 329,497 | 295,236 |
Deferred income tax liability | 97,367 | 102,907 |
Total non-current liabilities | 2,099,589 | 1,977,923 |
Total liabilities | 4,447,306 | 4,431,454 |
Equity | ||
Capital | 871,918 | 871,918 |
Legal reserve | 132,011 | 132,011 |
Voluntary reserve | 29,974 | 29,974 |
Share Premium | 1,131,574 | 1,131,574 |
Other reserves | (135,947) | (169,234) |
Retained earnings | (829,714) | (728,637) |
Equity attributable to controlling interest in the Company | 1,199,816 | 1,267,606 |
Non-controlling interest | 253,450 | 327,690 |
Total equity | 1,453,266 | 1,595,296 |
Total liabilities and equity | S/ 5,900,572 | S/ 6,026,750 |
Consolidated Statement of Incom
Consolidated Statement of Income - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Profit or loss [abstract] | |||
Revenues from construction activities | S/ 2,272,561 | S/ 1,815,671 | S/ 2,411,880 |
Revenues from services provided | 1,094,439 | 936,485 | 1,089,465 |
Revenue from real estate and sale of goods | 579,482 | 394,249 | 583,659 |
Revenues | 3,946,482 | 3,146,405 | 4,085,004 |
Cost of construction activities | (2,178,648) | (1,716,309) | (2,351,563) |
Cost of services provided | (918,212) | (811,505) | (866,326) |
Cost of real estate and sale of goods | (454,484) | (308,339) | (425,352) |
Cost | (3,551,344) | (2,836,153) | (3,643,241) |
Gross profit | 395,138 | 310,252 | 441,763 |
Administrative expenses | (179,613) | (134,013) | (213,908) |
Other income and expenses | (4,477) | (181,182) | (326,754) |
Operating (loss) profit | 211,048 | (4,943) | (98,899) |
Financial expenses | (262,574) | (146,355) | (231,709) |
Financial income | 5,773 | 39,316 | 74,656 |
Share of the profit or loss of associates and joint ventures accounted for using the equity method | (861) | 770 | (218,774) |
Loss before income tax | (46,614) | (111,212) | (474,726) |
Income tax expense | (43,700) | (62,208) | (319,957) |
Loss from continuing operations | (90,314) | (173,420) | (794,683) |
Loss from discontinued operations | (26,774) | (16,924) | (43,959) |
Loss for the period | (117,088) | (190,344) | (838,642) |
(Loss) profit attributable to: | |||
Owners of the Company | (153,210) | (217,871) | (884,721) |
Non-controlling interest | 36,122 | 27,527 | 46,079 |
(Loss) profit attributable, total | S/ (117,088) | S/ (190,344) | S/ (838,642) |
Loss per share attributable to owners of the Company during the period (in Nuevos Soles per share) | S/ (0.176) | S/ (0.25) | S/ (1.076) |
Loss per share from continuing operations attributable to owners of the Company during the period (in Nuevos Soles per share) | S/ (0.145) | S/ (0.23) | S/ (1.023) |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Consolidated Statement of Comprehensive Income [Abstract] | |||
Loss for the period | S/ (117,088) | S/ (190,344) | S/ (838,642) |
Items that may be subsequently reclassified to profit or loss | |||
Cash flow hedge, net of tax | (626) | 6 | |
Foreign currency translation adjustment, net of tax | (5,987) | 8,304 | (8,170) |
Exchange difference from net investment in a foreign operation, net of tax | (428) | 708 | (456) |
Other comprehensive income for the period, net of tax | (6,415) | 8,386 | (8,620) |
Total comprehensive income for the period | (123,503) | (181,958) | (847,262) |
Comprehensive income attributable to: | |||
Owners of the Company | (159,592) | (209,599) | (891,607) |
Non-controlling interest | 36,089 | 27,641 | 44,345 |
Comprehensive income attributable to, total | (123,503) | (181,958) | (847,262) |
Comprehensive income for the period attributable to owners of the Company: | |||
Continuing operations | (132,818) | (192,020) | (848,994) |
Discontinued operations | (26,774) | (17,579) | (42,613) |
Comprehensive income for the period attributable to owners of the Company, total | S/ (159,592) | S/ (209,599) | S/ (891,607) |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - PEN (S/) S/ in Thousands | Number of shares In thousands | Capital | Legal reserve | Voluntary reserve | Share premium | Other reserves | Retained earnings | Total | Non-controlling interest | Total |
Balance at Dec. 31, 2018 | S/ 729,434 | S/ 132,011 | S/ 29,974 | S/ 992,144 | S/ (170,620) | S/ 375,417 | S/ 2,088,360 | S/ 401,571 | S/ 2,489,931 | |
Balance (in Shares) at Dec. 31, 2018 | 729,434 | |||||||||
- IFRS adoption | (1,462) | (1,462) | (1,462) | |||||||
Initial balances restated | 729,434 | 132,011 | 29,974 | 992,144 | (170,620) | 373,955 | 2,086,898 | 401,571 | 2,488,469 | |
Initial balances restated (in Shares) | 729,434 | |||||||||
(Loss) profit for the year | (884,721) | (884,721) | 46,079 | (838,642) | ||||||
Cash flow hedge | 6 | 6 | 6 | |||||||
Foreign currency translation adjustment | (6,440) | (6,440) | (1,730) | (8,170) | ||||||
Exchange difference from net investment in a foreign operation | (452) | (452) | (4) | (456) | ||||||
Comprehensive income of the year | (6,886) | (884,721) | (891,607) | 44,345 | (847,262) | |||||
Transactions with shareholders: | ||||||||||
- Dividend distribution | (12,762) | (12,762) | ||||||||
- Contributions (devolution) of non-controlling shareholders, net | (32,996) | (32,996) | ||||||||
- Additional acquisition of non-controlling | 1,883 | 1,883 | (1,883) | |||||||
- Capital Increase | 142,484 | 138,152 | 280,636 | 280,636 | ||||||
- Capital Increase (in Shares) | 142,484 | |||||||||
Total transactions with shareholders | 142,484 | 140,035 | 282,519 | (47,641) | 234,878 | |||||
Total transactions with shareholders (in Shares) | 142,484 | |||||||||
Balance at Dec. 31, 2019 | 871,918 | 132,011 | 29,974 | 1,132,179 | (177,506) | (510,766) | 1,477,810 | 398,275 | 1,876,085 | |
Balance (in Shares) at Dec. 31, 2019 | 871,918 | |||||||||
(Loss) profit for the year | (217,871) | (217,871) | 27,527 | (190,344) | ||||||
Cash flow hedge | (594) | (594) | (32) | (626) | ||||||
Foreign currency translation adjustment | 8,158 | 8,158 | 146 | 8,304 | ||||||
Exchange difference from net investment in a foreign operation | 708 | 708 | 708 | |||||||
Comprehensive income of the year | 8,272 | (217,871) | (209,599) | 27,641 | (181,958) | |||||
Transactions with shareholders: | ||||||||||
- Dividend distribution | (82,412) | (82,412) | ||||||||
- Contributions (devolution) of non-controlling shareholders, net | (15,725) | (15,725) | ||||||||
- Additional acquisition of non-controlling | (605) | (605) | (89) | (694) | ||||||
Total transactions with shareholders | (605) | (605) | (98,226) | (98,831) | ||||||
Balance at Dec. 31, 2020 | 871,918 | 132,011 | 29,974 | 1,131,574 | (169,234) | (728,637) | 1,267,606 | 327,690 | 1,595,296 | |
Balance (in Shares) at Dec. 31, 2020 | 871,918 | |||||||||
(Loss) profit for the year | (153,210) | (153,210) | 36,122 | (117,088) | ||||||
Foreign currency translation adjustment | (5,957) | (5,957) | (30) | (5,987) | ||||||
Exchange difference from net investment in a foreign operation | (425) | (425) | (3) | (428) | ||||||
Comprehensive income of the year | (6,382) | (153,210) | (159,592) | 36,089 | (123,503) | |||||
Transactions with shareholders: | ||||||||||
- Dividend distribution | (42,974) | (42,974) | ||||||||
- Contributions (devolution) of non-controlling shareholders, net | (27,104) | (27,104) | ||||||||
- Additional acquisition of non-controlling | 39,669 | 39,669 | (39,669) | |||||||
- Deconsolidation Adexus S.A. | 52,133 | 52,133 | 52,133 | |||||||
- Dilution of non-controlling shareholders | (582) | (582) | ||||||||
Total transactions with shareholders | 39,669 | 52,133 | 91,802 | (110,329) | (18,527) | |||||
Balance at Dec. 31, 2021 | S/ 871,918 | S/ 132,011 | S/ 29,974 | S/ 1,131,574 | S/ (135,947) | S/ (829,714) | S/ 1,199,816 | S/ 253,450 | S/ 1,453,266 | |
Balance (in Shares) at Dec. 31, 2021 | 871,918 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows S/ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021PEN (S/) | Dec. 31, 2020PEN (S/) | Dec. 31, 2019PEN (S/) | |
OPERATING ACTIVITIES | |||
Loss before income tax | S/ (78,350) | S/ (131,900) | S/ (535,271) |
Adjustments to profit not affecting cash flows from | |||
Depreciation | 98,795 | 98,504 | 112,318 |
Amortization | 106,512 | 98,621 | 107,499 |
Impairment of inventories | 2,984 | 791 | 4,503 |
Impairment of accounts receivable and other accounts receivable | 29,389 | 134,964 | 290,491 |
Reversal of impairment of inventories | (821) | (4,752) | |
Debt condonation | (9,451) | (18,186) | |
Reversal of property, plant and equipment | 8,088 | 20,018 | |
Impairment of intangible assets | 45,821 | ||
Reversal of impairment of accounts receivable | (19,448) | ||
Reversal of impairment of intangible assets | (20,676) | ||
Change in the fair value of the liability for put option | 245 | 4,697 | |
Other provisions | 62,246 | 126,896 | 186,894 |
Renegotiation of liability for acquisition of non-controlling Morelco | (70,322) | ||
Financial expense,net | 222,453 | 225,212 | 167,872 |
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 | 861 | (770) | 218,774 |
Reversal of provisions | (13,027) | (33,264) | (7,471) |
Disposal of assets | 2,410 | 8,895 | 349 |
Profit on sale of property, plant and equipment | (3,937) | (2,322) | (11,892) |
(Profit) loss on remeasurement of accounts receivable | 106,613 | (25,888) | 45,363 |
Net variations in assets and liabilities: | |||
Trade accounts receivable and working in progress | (82,527) | 131,674 | 457,709 |
Other accounts receivable | 41,626 | (46,117) | 148,833 |
Other accounts receivable from related parties | (57,258) | (20,641) | (11,178) |
Inventories | 59,201 | 22,578 | (34,091) |
Pre-paid expenses and other assets | (11,681) | (823) | 4,964 |
Trade accounts payable | (55,131) | (42,062) | 58,973 |
Other accounts payable | 72,991 | (58,011) | (292,184) |
Other accounts payable to related parties | 7,703 | 3,591 | (24,461) |
Other provisions | (27,964) | (9,051) | (1,134) |
Interest payment | (146,369) | (137,369) | (172,377) |
Payments for purchases of intangibles - Concessions | (5,157) | (3,519) | (25,917) |
Payment of income tax | (75,641) | (112,851) | (94,669) |
Net cash provided by operating activities | 194,508 | 226,024 | 601,755 |
INVESTING ACTIVITIES | |||
Sale of property, plant and equipment | 9,162 | 9,118 | 18,607 |
Interest received | 2,474 | 4,292 | 6,552 |
Dividends received | 3,445 | 2,318 | 1,517 |
Payment for purchase of investments properties | (152) | (98) | (88) |
Payments for intangible purchase | (53,808) | (46,767) | (84,201) |
Loss of deconsolidation of investment | (11,223) | ||
Payments for property, plant and equipment purchase | (38,087) | (33,596) | (93,017) |
Net cash applied to investing activities | (88,189) | (64,733) | (150,630) |
FINANCING ACTIVITIES | |||
Loans received | 281,079 | 185,644 | 644,312 |
Bonds issued | 357,424 | ||
Amortization of loans received | (548,360) | (275,163) | (1,130,301) |
Amortization of bonds issued | (48,858) | (37,981) | (31,335) |
Payment for transaction costs for debt | (5,681) | (4,770) | |
Dividends paid to non-controlling interest | (25,693) | (82,412) | (12,762) |
Cash received (return of contributions) from non-controlling shareholders | (27,104) | (15,725) | (32,996) |
Capital increase | 280,636 | ||
Acquisition or sale of interest in a subsidiary of non-controlling shareholders | (33,232) | ||
Net cash applied to financing activities | (50,425) | (225,637) | (287,216) |
Net increase (net decrease) in cash | 55,894 | (64,346) | 163,909 |
Exchange difference | 1,116 | 13,813 | (20,303) |
Cash and cash equivalents at the beginning of the period | 900,168 | 950,701 | 807,095 |
Cash and cash equivalents at the end of the period | 957,178 | 900,168 | 950,701 |
NON-CASH TRANSACTIONS: | |||
Capitalization of interests | 1,244 | 4,887 | 7,229 |
Acquisition of assets through finance leases | 104 | 71 | 3,851 |
Dividends declared to non-controlling interest | 17,281 | ||
Acquisition of right-of-use assets | 7,988 | 12,075 | 101,745 |
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, 2021 | |
General Information [Abstract] | |
GENERAL INFORMATION | 1 GENERAL INFORMATION a) Incorporation and operations AENZA S.A.A., (hereinafter the “Company”) was incorporated in Peru on August 12, 1996, as a result of the equity spin-off of Inversiones GyM S.A: (formerly Graña y Montero S.A.). The Company’s legal address is Av Du Petit Thouars 4957, Miraflores Lima, Peru and is listed on the Lima Stock Exchange and New York Stock Exchange (NYSE). The Company is the parent of the AENZA Corporation that includes the Company and its subsidiaries (hereinafter, the “Corporation”) and is mainly engaged in its investments in the different subsidiaries. In addition, the Company provides strategic and functional services and office leases to its set of subsidiaries. The General Shareholder’s Meeting of November 2, 2020 approved the modification of the Company’s name from Graña y Montero S.A.A. to AENZA S.A.A., which was effective as of February 4, 2021. The Corporation is a conglomerate of companies whose operations encompass different business activities such as engineering and construction, energy, infrastructure (public concession ownership and operation) and real estate business. See details of operating segments in Note 7. b) Authorization for the financial statements issuance The consolidated financial statements for the period ended December 31, 2021 have been prepared and issued with authorization of Company´s Management and the Board of Directors on March 4, 2022 and were approved on the General Shareholder’s Meeting hold on March 31, 2022. In relation to the Financial Statements ended December 31, 2020, events with a material impact on the results occurred after the approval of the General Shareholders Meeting of March 31, 2021 and prior to the issuance of the annual report on Form 20-F on May 17, 2021. These events consisted primarily of the achievement of significant progress in the negotiations of the Company’s Collaboration Agreement which allowed for a reassessment of its contingency exposure. In compliance with International Financial Reporting Standards (IFRS) and in connection with the above events the audited Consolidated Financial Statements as of December 31, 2020 were restated and issued with authorization of the Management and the Board of Directors on June 9, 2021 and were approved by the General Shareholder’s Meeting held on July 6, 2021. c) Changes in Shareholders and Board of Directors On June 15, 2021, the Company was informed that IG4 Capital Infrastructure Investments LP (“IG4”) announced an “Oferta Publica de Adquisición” (“OPA”), or tender offer, for a total of 107,198,601 common shares with voting rights equivalent to 12.29% of the outstanding shares issued by AENZA S.A.A. On August 10, 2021, the Company was informed that IG4 purchased a significant shareholding participation in AENZA S.A.A., amounting to 23.90% of the company’s outstanding shares, which 12.29% was purchased within the OPA and American Depositary Shares and additionally acquired voting rights of 11.61% through the “Transaction Documents”, as such documents were denominated in the OPA of July 12, 2021. Furthermore, on August 12, 2021, certain shareholders of AENZA S.A.A. signed a Trust agreement with IG4 as trustee and La Fiduciaria S.A. as Trust, in which, among other aspects, IG4 acquired the voting rights of AENZA’s common shares representing approximately 8.97% of the company for a period of 8 years, which could be automatically renewed for an additional period of 8 years. As a result of the transactions described before, IG4 ended up controlling common shares for a total of 33.87% of the Company’s capital stock. As a consequence of the new shareholder structure, a new Board of Directors was elected for the period 2021-2024 at the General Shareholders’ Meeting held on September 20, 2021. d) Current situation of the Company The Company is involved in a series of criminal investigations conducted by the Public Ministry and administrative proceedings conducted by INDECOPI based on events that occurred between years 2003 and 2016. Such situations led to significant changes in the Corporation´s corporate governance structure, the opening of independent investigations and the adoption of measures to address and clarify these situations. 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 in six infrastructure projects with Odebrecht Group, directly or through its subsidiaries, in entities or consortiums. The resulting contingency from these projects has been determined in the Collaboration Agreement, and includes the following projects: IIRSA Sur Tranches 2 and 3, IIRSA Norte, the Electric Train Construction Project (Tranches 1 and 2) and Gasoducto Sur Peruano (GSP). Peruvian prosecutors have included José Graña Miró Quesada, former Chairman of the company, and Hernando Graña Acuña, former board member of the company and former chairman of Cumbra Peru, in an investigation for the crime of collusion and the crime of money laundering against the Peruvian government, respectively. These investigations are in connection with the IIRSA South (tranche II) project concession, in which we participated with Odebrecht. In addition, José Graña and Hernando Graña, as well as the former chief executive officer of Cumbra Peru, have been charged in connection with Tranches 1 and 2 of the Lima Metro. On February 9, 2022, Peruvian prosecutorial authorities announced plea agreements with José Graña Miró Quesada and Hernando Graña Acuña, which remain subject to judicial approval. These plea agreements may include providing information related to wrongdoing or knowledge of improper behavior while they were at the company. Criminal investigations in relation to the Construction Club case Cumbra Peru S.A. (formerly GyM S.A.) has been included, along with other construction companies, 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 Construction Club. The resulting contingency from these projects has been determined in the Collaboration Agreement with the Prosecutor’s Office and the Attorney General’s Office. Moreover, at the end of February 2020, the Public Ministry requested Unna Transporte S.A.C. (formerly Concar S.A.C.), be included in the criminal investigation, a request that was approved in October 2021. Just like other executives of other construction companies, a former commercial manager of Cumbra Peru S.A., a former president of the Board of Directors, a former Director and the former Corporate General Manager of the Company have been included in these criminal investigation. Company´s management cannot guarantee possibility of finding additional adverse evidence in the future, nor rule out the possibility of authorities or third parties finding additional adverse evidence not currently known with respect to the projects executed during the period under investigation. Acuerdo Preparatorio de Colaboración y Beneficios – “The Agreement” Following an internal investigation on the facts covered by the criminal investigations described above, the Company decided to provide the findings of the internal investigation to the authorities within the framework of a collaboration agreement process and in line with the commitment of transparency and integrity assumed by the Company. As a result of its contribution to the investigations, on December 27, 2019, the Company signed a preliminary agreement by which the Anti-Corruption Prosecutor’s Office and the Ad Hoc Attorney’s Office undertook to enter into a definitive effective collaboration agreement that would give the Company and its Subsidiaries certainty regarding the contingencies it faces as a result of the aforementioned processes. In addition, in the aforementioned preliminary collaboration agreement, the Anti-Corruption Prosecutor’s Office and the Ad Hoc Attorney’s Office authorized the Company to disclose but maintaining the legal reservation about its content. On May 21, 2021, the Company entered into an Agreement with the Special Team of Peruvian prosecutors who are committed to full dedication to the knowledge of investigations related to corruption offenses of officials and related personnel, in which the company Odebrecht and others would have incurred (the “Prosecutor’s Office”) and with the ad hoc Public Prosecutor’s Office for investigations and processes related to crimes corruption of officials, money laundering and related activities allegedly committed by the Odebrecht company and others (the “Attorney General’s Office”). Through the Agreement, AENZA S.A.A. as well as two of its subsidiaries, accepts they were utilized by certain former executives to commit illicit acts until 2016, and commits to pay a civil penalty to the Peruvian State of S/321.9 million and US$41.1 million. The civil penalty is subject to (i) a repayment tenor of 12 years, (ii) the legal interest rate in domestic and foreign currency, (iii) a total collateral of S/197.0 million through a trust agreement that includes shares issued by a subsidiary of AENZA, a real estate asset guarantee and a debt service guaranty account. Among other conditions, the Agreement includes a restriction to participate in public construction and road maintenance contracts for 2 years from the approval of the Agreement. As at 31 December 2021, we registered the present value of the amounts described before, which amount to S/164.6 million and US$18.9 million (in total S/240.1 million). The civil penalty covers the total contingency to which the Company is exposed to as a result of the investigations revealed in the financial statements notes since 2017. Nevertheless, the Agreement enforceability is subject to court approval and its terms and conditions are subject to confidentiality provisions. The Prosecutor’s Office has been obliged under the Agreement to request with respect to the projects subject to it, the complete exemption of the Company from the scope of Law 30737 and its implementing regulation approved by Decreto Supremo No 096-2018-EF. 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. On February 11, 2020, the subsidiary Cumbra Peru S.A. was notified by the Technical Secretariat (the “TS”) of the Commission for the Defense of Free Competition of INDECOPI (the “Commission”) 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. On November 17, 2021, the Commission imposed a fine of approximately S/67 million against Cumbra Peru S.A., which is currently being challenged and is pending of resolution by the final administrative instance within the Indecopi Court. As of December 31, 2021, Cumbra Peru recorded an estimated provision amounting to S/52.6 million (as of December 31, 2020 a present value equivalent to S/24.5 million was recorded). Investigations and administrative process initiated by INDECOPI in relation with the labor recruitment market On February 7, 2022, Cumbra Peru S.A. (formerly “GyM”) and Unna Transportes S.A.C.(formerly Concar) were notified of Resolution No. 038-2021/DLC-INDECOPI, by means of which the “Direccion Nacional de Investigación y Promoción de la Libre Competencia” of INDECOPI initiated an administrative sanctioning proceeding for alleged concerted distribution of suppliers in the labor market in the construction sector between the years 2011 and 2017 in which competitor construction companies agreed not to hire staff of another party without its prior consent. The Commission for the Defense of Free Competition of INDECOPI will resolve the case in the first instance, and if either of the aforementioned subsidiaries appeals, the Chamber for the Defense of Competition of the INDECOPI Tribunal will decide in the second and final instance of the administrative procedure. The decision of INDECOPI may also be judicially challenged, however, such challenge would not suspend the execution of the challenged decision. As of December 31, 2021, Cumbra recorded an estimated provision amounting to S/4.8 million (or approximately US$1.2 million) related to this fine.” e) New State of Emergency due to COVID-19 On February 25, 2022, the Peruvian Government extended the State of National Emergency for a period of 32 days as of February 28, 2022, as a result of COVID-19. Likewise, certain economic activities are restricted, according to the alert level in each department of Peru, until March 31, 2022. Management considers that the measures taken by the national authorities have no impact on the continuity and development of the operations of the Company because the activities carried out by the Company are within the group of permitted activities. 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. Covid-19 and the consequent measures taken to limit the spread of the disease could affect the ability to conduct business in the normal way and, therefore, affect the financial position and results of operations, however until the date of approval of the audited financial statements, it is not expected that operations and going concern will be affected. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of Summary of Significant Accounting Policies [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, 2020 and 2021, 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 financial assets measured at fair value. The financial statements are presented in thousands of Peruvian Sol unless otherwise stated. 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 interest on an acquisition-by-acquisition basis. As of December 31, 2020, and 2021, the measurements of the non-controlling interest in the Corporation´s acquisitions were made at the non-controlling interest´s proportionate share of the recognized amounts of the acquiree’s identifiable net assets. 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 interest, over the net identifiable assets acquired and liabilities and contingent liabilities assumed. If the acquisition cost is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized in profit or loss at the time of acquisition. For consolidating subsidiaries, balances, income, and expenses from transactions between Corporation companies are eliminated. Profits and losses resulting from inter-company transactions that are recognized as assets are also eliminated. Corporation 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 interests that do not result in loss of control are accounted for as equity transactions, in other words as transactions with owners in their capacity as owners. The difference between the fair value of any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interest are also recorded in equity at the time of disposal. c) Disposal of subsidiaries When the Corporation ceases to have control over a subsidiary, any retained interest in the entity is re-measured at its fair value at the date when control is lost, with the change in carrying amount recognized in profit or loss at such date. The fair value is the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that entity are accounted for as if the Corporation had directly disposed of the related assets or liabilities. This may mean that the amount previously recognized in other comprehensive income is reclassified to profit or loss. 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 it 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. 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. Foreign exchange gains and losses resulting from the settlement of such transactions are recognized in the consolidated income statement, except when deferred in other comprehensive income. Foreign exchange gains and losses of all monetary items are included in the income statement within financial income or expense. 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 in the income statement on the disposal of the subsidiary or debt repayment to the extent such loans qualify as part of the “net investment in a foreign operation”. 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-iii (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 bank deposits, other highly liquid investments with original maturities of three months or less and bank overdrafts. In the consolidated statement of financial position, bank overdrafts are included in the balance of borrowings as current liabilities. 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 this classification at the date of each closing of its consolidated financial statements. As of December 31, 2020, and 2021, the Corporation only maintains financial assets in the following categories: 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 assets. 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. c) Financial assets at fair value through profit or loss Financial assets that do not meet the criteria of amortized cost 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 financial assets initially recognized by the Corporation at their fair value upon initial recognition and are held for sale. These are included in current assets. 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 twelve 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 twelve 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 twelve 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 at their fair value at the end of each reporting period. The method for recognizing the gain or loss resulting from changes in the fair value of the derivatives depends on whether they are designated as a hedging instrument, and if so, the nature of the item being hedged. 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 asset or liability when the remaining maturity period of the hedged item is more than twelve months and as a current asset or liability when the remaining maturity period of the hedged item is less than twelve months. Trading derivatives are classified as a current asset or liability. 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 asset (for example, inventory or fixed assets), the gains or losses previously deferred in equity are transferred from equity and are included in the initial measurement of the cost of the non-financial asset. The deferred amounts are finally recognized in cost of goods sold in the case of inventory or depreciation in the case of fixed assets. 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 assets. 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 and ). 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 replacement value, the lower. The cost of these items includes freight and non-refundable applicable taxes. 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 s ignificant components with useful lives substantially different (each component is treated separately for depreciation purposes). 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 interest and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the net identifiable assets acquired. If the payment made, the amount of the non-controlling interest recognized and previously held interest measured at fair value is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated statement of income. Goodwill acquired in a business combination is allocated to each cash-generating unit (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 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 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 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 Block V and the unit of production method for Blocks III and IV 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 f |
Standards, Amendments, and Inte
Standards, Amendments, and Interpretation of International Financial Reporting Standards | 12 Months Ended |
Dec. 31, 2021 | |
Standards Amendments And Interpretation Of International Financial Reporting Standards [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 2021 There were no regulatory changes of mandatory application for the 2021 financial statements that the Company has considered in the preparation of these financial statements. b) New standards, amendments to standards and interpretations that will be effective for financial statements for annual periods beginning on or after January 1, 2022 and that have not been early adopted Certain standards and amendments to standards have been issued that are mandatorily effective for 2022 or later and have not been early adopted by the Company. The Company’s assessment of the impact that these standards will have on the financial statements is explained below: ● Amendment to IAS 1: Classification of Liabilities as current or non-current. The amendments to IAS 1 Presentation of Financial Statements clarify that liabilities are classified as current or non-current, depending on the rights that exist at the end of the reporting period. The classification is not affected by the entity’s expectations or events after the reporting date (e.g., receipt of a waiver or breach of covenant). The amendments also clarify what IAS 1 means when it refers to the ’settlement’ of a liability. The amendments could affect the classification of liabilities, particularly for entities that previously considered management’s intentions in determining classification and for some liabilities that may be converted to equity. The amendments should be applied retrospectively in accordance with the normal requirements of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. The amendments are effective for annual reporting periods beginning on or after January 1, 2023 and should be applied retrospectively. ● Disclosure of accounting policies - Amendments to IAS 1 and Practical Statement 2 Originally the IAS established that “significant” accounting policies must be disclosed, with this amendment it is specified that the disclosure must be made for “material” accounting policies. In this sense, this amendment incorporates the definition of what is “information on material accounting policies” and explains how to identify this type of information. It also clarifies that information on immaterial accounting policies does not need to be disclosed and if it is disclosed, it should not cause confusion of important accounting information. Consistently, the Statement of Practice 2, ‘Making judgments about materiality’ was also amended to provide guidance on how to apply the concept of materiality to disclosures of accounting policies. This amendment is effective from January 1, 2023. ● Amendments to IAS 8 - Definition of Accounting Estimates This amendment clarifies how to distinguish changes in accounting policies from changes in accounting estimates. The distinction is important for defining the accounting treatment, since changes in accounting estimates are recognized prospectively to future transactions and events, while changes in accounting policies are generally applied retrospectively to past transactions and events, as well as to the current period. This amendment is effective as of January 1, 2023. ● Amendments to IAS 12 - Deferred Taxes Relating to Assets and Liabilities Arising from Single Transactions These amendments establish that deferred taxes arising from a single transaction that, on initial recognition, give rise to taxable and deductible temporary differences of the same value should be recognized. This will generally apply to transactions such as leases (for lessees) and decommissioning or remediation obligations, where deferred tax assets and liabilities will be required to be recognized. These amendments should be applied to transactions occurring on or after the beginning of the earliest comparative period presented. In addition, deferred tax assets (to the extent that it is probable that they can be utilized) and deferred tax liabilities should be recognized at the beginning of the earliest comparative period for all deductible or taxable temporary differences associated with: - right-of-use assets and lease liabilities, and - decommissioning, restoration and similar liabilities, and the related amounts are recognized as part of the cost of the related assets. The cumulative effect of these adjustments is recognized in retained earnings or another component of equity, as appropriate. Previously, IAS 12 did not establish any particular accounting treatment for the tax effects of leases that are recognized in the balance sheet and for similar transactions, so different approaches were considered acceptable. Entities that are already recognizing deferred taxes on these transactions will have no impact on their financial statements. This amendment is effective from January 1, 2023. ● 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 for the period. 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, and the financial performance of the asset being not relevant. This amendment 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 and are applied prospectively. ● 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. ● Amendment to IFRS 10 and IAS 28 - Sale or Contribution of Assets between an Investor and its Associate or Joint Venture The IASB has made limited scope amendments to IFRS 10 “Consolidated Financial Statements” and IAS 28 “Investments in Associates and Joint Ventures”. The amendments clarify the accounting treatment of sales or contributions of assets between an investor and its associates or joint ventures. They also confirm that the accounting treatment will depend on whether the non-cash assets sold or contributed to an associate or joint venture constitute a “business” (as defined in IFRS 3 “Business Combinations”). When the non-monetary assets constitute a business, the investor shall recognize the full gain or loss from the sale or contribution of the assets. If the assets do not meet the definition of a business, the gain or loss is recognized by the investor only to the extent of the investment of the other investors in the joint venture associate. These amendments will be applied prospectively. The effective date of these amendments is in the process of being defined. The Company will evaluate the impact of these changes when the application date is confirmed. ● IFRS 17 - Insurance Contracts In May 2017, IFRS 17 was issued which will replace IFRS 4 “Insurance Contracts”. This standard establishes a current measurement model in which estimates are required to be updated at each balance sheet date. Insurance contracts are measured taking into account the following components: - The discounted cash flows, weighted based on their probability, - An explicit risk adjustment, and - A contractual service margin (“MSC”), which represents the unearned income from the contract that is recognized as revenue during the coverage period. The standard allows a choice between recognizing changes in discount rates in profit or loss or in other comprehensive income. The option taken is expected to be defined in terms of how financial assets are recognized under IFRS 9. For short-duration contracts that are generally underwritten by non-life insurers, a simplified premium allocation approach is allowed for the liability in respect of the remaining coverage. The new rules will affect the financial statements and key performance indicators of all entities that write insurance or investment contracts with discretionary participation features. Certain amendments made in July 2020 are intended to facilitate the implementation of the standard by reducing implementation costs and making it easier to explain the results of applying IFRS 17 to investors and third parties. The amendments also postponed the application date of IFRS 17 to January 1, 2023. The Company is currently evaluating the impact that the modifications or amendments described above may have on current practice. |
Financial Risk Management
Financial Risk Management | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of financial risk management [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 financial instruments and the investment of excess liquidity, and financial risk which are supervised and monitoring periodically. 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. 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, 2020, and 2021 this exposure is mainly concentrated in fluctuations of U.S. dollar, the Chilean and Colombian Pesos. The balances of financial assets and liabilities denominated in foreign currencies correspond to balances in U.S. dollars, which are expressed at the published supply and demand exchange rate in effect at that date, according to the currency exchange rate: At At December 31, December 31, 2020 2021 Soles (a) 3.624 3.998 Chilean Pesos (b) 711.24 844.69 Colombian Pesos (c) 3,432.50 3,981.16 (a) Soles published by the Superintendencia de Bancos, Seguros y AFP (SBS). (b) Chilean pesos published by the Banco Central de Chile. (c) Colombian pesos published by Banco de la Republica de Colombia. As of December 31, the consolidated statement of financial position includes the following: 2020 2021 US$(000) US$(000) Assets 562,761 519,448 Liabilities 295,120 512,947 For the periods ended December 31, 2019, 2020 and 2021, the Corporation’s exchange gains and losses for the Peruvian Sol, the Chilean and Colombian Pesos exposure against the U.S. dollar was: 2019 2020 2021 Gain 390,008 426,164 383,199 Loss (422,578 ) (429,930 ) (430,410 ) If as of December 31, 2021 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 results for the year would have increased/decreased by S/0.9 million (S/0.1 million in 2020 and S/0.7 million in 2019). 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): 2020 2021 Assets Liabilities Assets Liabilities Chilean Pesos 40,869,086 74,151,415 37,652,361 97,540,055 Colombian Pesos 113,350,078 54,581,654 63,774,095 33,770,395 The Corporation’s foreign exchange translation adjustment for 2021 was negative by S/6 million (in 2020, S/8.3 million, positive and negative by S/8.2 million, in 2019). 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. 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 of Directors. 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 Corporation cash flows enabled it to meet its obligations. The Corporation has implemented various actions to reduce its exposure to liquidity risk and has developed a Financial Plan based on several steps, which were designed assuming attaining obligations within a reasonable time frame. The Financial Plan aims to enable compliance with the various obligations at the Corporation and levels. The Corporation’s Corporate Finance Office monitors rolling forecasts of the Corporation’s liquidity requirements to ensure it exists sufficient cash to meet operational needs so that the Corporation 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 ratio targets in the statement of financial position 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, which include interest to be applied according to the established schedule. Less than 1-2 2-5 More than As of December 31, 2020 1 year years years 5 years Total Other financial liabilities (except for finance leases and lease liability for right-of-use asset) 433,318 183,796 197,785 23,953 838,852 Finance leases 16,287 14,919 20,851 8,515 60,572 Lease liability for right-of-use asset 24,714 32,006 19,847 11,131 87,698 Bonds 137,090 168,673 385,919 971,543 1,663,225 Trade accounts payables (except non-financial liabilities) 968,719 40,502 - - 1,009,221 Accounts payables to related parties 43,818 35,461 - 836 80,115 Other accounts payables and other provisions (except non-financial liabilities) 344,411 62,943 230,352 322,123 959,829 1,968,357 538,300 854,754 1,338,101 4,699,512 As of December 31, 2021 Less than 1-2 2-5 More than Total Other financial liabilities (except for finance leases and lease liability for right-of-use asset) 224,503 52,751 173,392 124,320 574,966 Finance leases 5,624 4,613 296 - 10,533 Lease liability for right-of-use asset 18,817 24,295 21,993 8,086 73,191 Bonds 137,852 206,476 837,931 792,037 1,974,296 Trade accounts payables (except non-financial liabilities) 912,826 - - - 912,826 Accounts payables to related parties 51,004 50,712 - - 101,716 Other accounts payables and other provisions (except non-financial liabilities) 323,070 22,941 109,383 422,666 878,060 1,673,696 361,788 1,142,995 1,347,109 4,525,588 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 led Management to monitor deviations that might cause the non-compliance of covenants and may hinder renegotiation of liabilities (Note18-a). In extraordinary situations, the Corporation identifies potential deviations and requirements and establishes a plan. 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 borrowings), less cash and cash equivalents. Total capital is calculated as ‘total equity’ as shown in the consolidated statement of financial position plus net debt. As of December 31, 2020, and 2021, the gearing ratio is presented below indicating the Corporation’s strategy to keep it in a range from 0.08 to 0.70. 2020 2021 Total borrowings and bonds (Note 18 and Note 19) 1,831,079 1,840,822 Less: Cash and cash equivalents (Note 9) (900,168 ) (957,178 ) Net debt 930,911 883,644 Total equity 1,595,296 1,453,266 Total capital 2,526,207 2,336,910 Gearing ratio 0.37 0.38 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 3 As of December 31, 2020 Financial liabilities Other financial entities (Note 18-d) 152,523 As of December 31, 2021 Financial liabilities Other financial entities (Note 18-d) 165,878 |
Critical Accounting Estimates a
Critical Accounting Estimates and Judgments | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of accounting judgements and estimates [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). For this purpose, goodwill is allocated to the different Cash Generating Unit (“CGU”) to which it relates while other intangible assets with indefinite useful life are assessed individually. 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 and fair value less costs to sell. This evaluation requires the exercise of Management’s professional judgment to analyze any potential indicators of impairment as well as the use of estimates in determining the value in use, including preparing future cash flows, macro-economic forecasts as well as defining the interest rate at which said cash flows will be discounted. 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 result in derecognition. As of December 31, 2020, and 2021 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 2020 2021 Goodwill Gross margin (10 )% +10% (10 )% +10% Engineering and construction (8.30 )% 37.10 % (111.04 )% (68.87 )% Electromechanical 41.81 % 55.60 % 27.66 % 75.53 % Discount rate: (10 )% +10% (10 )% +10% Engineering and construction 32.68 % 0.53 % (72.22 )% (103.35 )% Electromechanical 52.32 % 45.23 % 57.09 % 46.39 % Terminal growth rate: (10 )% +10% (10 )% +10% Engineering and construction 11.58 % 17.44 % (92.70 )% (86.99 )% Electromechanical 46.83 % 50.65 % 51.59 % 51.59 % Trademarks Revenue growth rate: (10 )% +10% (10 )% +10% Morelco 59.65 % 123.51 % 27.78 % 77.02 % Vial y Vives - DSD (1.04 )% 2.79 % (6.61 )% 14.14 % Discount rate: (10 )% +10% (10 )% +10% Morelco 124.29 % 66.82 % 78.73 % 32.50 % Vial y Vives - DSD (6.56 )% 9.95 % (6.50 )% 16.83 % Terminal growth rate: (10 )% +10% (10 )% +10% Morelco 86.47 % 97.09 % 48.35 % 56.77 % Vial y Vives - DSD (9.14 )% 11.05 % 5.15 % 2.43 % Goodwill In 2021, if the revenue growth rate, perpetual growth rate, or discount rate were 10% below or above management’s estimates, the Corporation would have been required to recognize a provision for goodwill impairment for the Engineering and Construction CGU (Morelco). In 2020, if the gross margin had been 10% below management’s estimate, the Corporation would have had to recognize a provision for goodwill impairment for the engineering and construction CGU (Morelco). As a result of these evaluations, as of December 31, 2020 and 2021, no impairment provision was identified. (Note 17). Trademarks In 2021, 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. In 2020, if these assumptions had been 10% less or 10% more than Management’s estimates, the Corporation would have not recognized a provision for impairment in trademarks Vial y Vives-DSD. As a result of these evaluations, as of December 31, 2020 and 2021, no provision for impairment was identified. (Note 17). Review of carrying amounts of Unna Energia S.A.’s long-lived assets At the date of each consolidated statement of financial position, the reviews the carrying amounts of its non-financial assets with finite useful lives to determine whether there is any indication that their carrying amounts are impaired. If there is any indication of impairment, the recoverable amount of the asset is estimated in order to determine, if applicable, the amount of the impairment. 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 performed an impairment test of its long-lived assets belonging to its Cash Generating Units (hereinafter CGU), crude oil and non-associated gas in Block V, Block III, Block IV and the Pariñas Gas Plant, respectively, for which it used the value in use approach, since it has considered within its maintenance capex cash flows and the pre-tax valuation has been performed. 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 V until 2023, Block III, Block IV and gas plant until 2045). ● 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, 2021) starting at US$/bbl54.86, reaching US$/bbl91.42 in the long term for crude oil. Likewise, the prices for the Company have been considered a reference price starting at US$/bbl53.36 up to US$/bbl89.92 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 three Blocks and for the Plant is 10.16%, which is the weighted average cost of capital (WACC) rate, determined in accordance with the Company’s policies, before taxes. As of December 31, 2020, and 2021, the Company has completed a detailed assessment of the reserves (proven, probable, and possible) of the oil and gas fields included in the four contracts subscribed with Perupetro S.A. For this assessment, the Company performs in-house estimations with its team of reservoir specialists and geologists from the Exploration and Production unit. The analysis uses available historic information at the pit and field levels. As of December 31, 2020, total proven oil reserves amounted to 26.1 million barrels, and total associated gas reserves amounted to 25,733 million cubic feet. As of December 31, 2021, total proven oil reserves amounted to 25.2 million barrels, and total associated gas reserves amounted to 55,017 million cubic feet. This information has not been audited and is submitted to the General Hydrocarbon Direction (DGH) of the Ministry of Energy and Mines. The recoverable value determined by the Company for crude oil following the value in use approach was S/785 million, which is higher than the carrying value of the CGU’s S/322.7 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 on December 31, 2021 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, 2021. 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 17.1%. 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/295 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/303 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 from construction contracts are recognized by the percentage of completion method, which requires estimating the margin to be obtained when project is completed. 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 project 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, 2019, 2020 and 2021, a sensitivity analysis was performed considering a 10% increase/decrease in the Corporation’s gross margins, as follows: 2019 2020 2021 Revenues 2,411,880 1,815,671 2,272,561 Gross profit 60,317 99,362 93,913 % 2.50 5.47 4.13 Plus 10% 2.75 6.02 4.54 Increase in profit before income tax 6,010 9,941 9,261 66,327 109,303 103,174 Less 10% 2.25 4.92 3.72 Decrease in profit before income tax (6,010 ) (9,941 ) (9,261 ) 54,307 89,421 84,652 d) Provision for well closure costs As of December 31, 2021, the present value of the estimated provision for the closure of 201 wells amounted to S/71 million (S/52.9 million as of December 31, 2020, for the closure of 193 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 2021, the calculation of the provision has been separated according to the obligation’s currency. Therefore, the pre-tax discount rates used for the calculation of the present value were: i) Block I for 1.48% (for dollars) 4.54% (for soles), ii) Block V for 1.13% (for dollars) 4.01% (for soles), and iii) Blocks III and IV for 3.56% (for dollars) 7.01% (for soles), based on the rate applicable to Peruvian sovereign bonds in soles and dollars between 3, 5 and 30 years respectively, in effect as of December 2021. If on December 31, 2021, the estimated rate had increased or decreased by 10%, with all variables held constant, the impact on pre-tax profit would not have been significant. 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), as well as the agreements taken at the end of the year, the Corporation identified potential impairment indicators affecting the recoverability of its investment. Consequently, the Corporation impaired the full investment amount in 2019. 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 by the Peruvian State and the situation in which the process of forming the creditors’ meeting was, and according to the opinion of lawyers for similar cases, the term for five years was estimated the recovery of the account receivable. As of 2019, 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 plea 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. As of the date of this report, the creation of the Creditors’ Meeting is pending. 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 by a contractual agreement with the majority investor 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 the Corporation is not determined to have control or joint control but has rights to the assets and obligations for the liabilities under the arrangement, the Corporation recognizes its assets, liabilities, income and expenses and its interest in any jointly controlled assets or liabilities and any income or expenses arising from the arrangement as a joint operation in accordance with IFRS 11 - Joint Arrangements (Note 2.2-d). |
Interests in Other Entities
Interests in Other Entities | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of interests in other entities [text block] [Abstract] | |
INTERESTS 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, Chile y 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. Morelco S.A.S. Colombia, Ecuador y Peru Construction and assembly services, supply of equipment and materials, operation and maintenance and engineering services in the specialties of mechanics, instrumentation and civil works. Cumbra Ingenieria S.A. Peru, Mexico y Bolivia Advisory and consulting services in engineering, carrying out studies and projects, managing projects and supervision of works. Energy: Unna Energia ES.A. Peru Services of extraction, operation and exploitation of oil, natural gas and derived products; as well as fuel storage and dispatch services. Oiltanking Andina Services S.A. Peru Operation of the gas processing plant of Pisco - Camisea. Transportadora de Gas Natural Comprimido Andino S.A.C. (TGNCA) Peru Commercialization of natural gas through a virtual system and compression service. Infrastructure: Unna Transporte S.A.C. (formerly CONCAR S.A.C.) Peru Highway and roads concessions operation and maintenance. Name Country Economic activity Tren Urbano de Lima S.A. Peru Concession for the operation of the public transportation system of Lima Metro (Metro de Lima Metropolitana). Carretera Andina del Sur S.A. (formerly Survial S.A.) Peru Concession for constructing, operating and maintaining Section 1 of the “Southern Inter-oceanic” highway. Red Vial 5 S.A. (formerly Norvial S.A.) Peru Concession for restoring, operating and maintaining the “Ancon - Huacho - Pativilca” section of the Panamericana Norte road. Carretera Sierra Piura S.A.C. (formerly Concesion Canchaque S.A.) Peru Concession for operating and maintaining of the Buenos Aires – Canchaque provincial road highway. Concesionaria Vía 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 Develop and managing real estate projects directly or together with other partners. Company Operations CAM Holding S.p.A. Chile Investment company. Qualys S.A. Peru Payroll, Information technological, accounting and tax 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 Peru 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, 2021: Percentage of common shares directly held by Parent (%) Percentage of common shares Percentage of common shares held by the Group (%) Percentage of common shares held by non-controlling interests (%) Engineering and Construction: Cumbra Peru S.A. 99.39 % - 99.39 % 0.61 % - Morelco S.A.S. - 100.00 % 100.00 % - - GyM Chile S.p.A. - 100.00 % 100.00 % - - Vial y Vives - DSD S.A. - 94.49 % 94.49 % 5.51 % - Cumbra Inversiones Colombia SAS - 100.00 % 100.00 % - 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. - 100.00 % 100.00 % 1.43 % Energy: 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. - 100.00 % 100.00 % - Infrastructure: Unna Transporte S.A.C. 100.00 % - 100.00 % - Tren Urbano de Lima S.A. 75.00 % - 75.00 % 25.00 % Carretera Andina del Sur S.A.C 100.00 % - 100.00 % - Red Vial 5 S.A. 18.20 % 48.80 % 67.00 % 33.00 % Carretera Sierra Piura S.A.C. 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 % - The following table shows the Corporation’s subsidiaries and related interest as of December 31, 2020: Percentage of common shares directly held by Parent (%) Percentage of common shares Percentage of common shares held by the Group (%) Percentage of common shares held by non-controlling interests (%) 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 % Energy: Unna Energía 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 % Infrastructure: Unna Transporte S.A.C. 100.00 % - 100.00 % - Tren Urbano de Lima S.A. 75.00 % - 75.00 % 25.00 % Carretera Andina del Sur S.A.C. 100.00 % - 100.00 % - Red Vial 5 S.A. 18.20 % 48.80 % 67.00 % 33.00 % Carretera Sierra Piura S.A.C. 99.96 % 0.04 % 100.00 % - Concesionaria Vía 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 interest is attributed to the following subsidiaries: 2020 2021 Viva Negocio Inmobiliario S.A. and subsidiaries 132,238 116,400 Red Vial 5 S.A. 57,941 55,559 Tren Urbano de Lima S.A. 59,231 41,757 Unna Energia S.A. 24,162 29,217 Cumbra Peru S.A. and subsidiaries 51,798 9,430 Others 2,320 1,087 327,690 253,450 According to the General Shareholders’ Meeting of Cumbra Peru S.A., on December 16, 2021, the capital increase by capitalization of credits owned by the Company for S/323 million was approved. Summarized financial information of subsidiaries with material non-controlling interests Set out below is the summarized financial information for each subsidiary that has non-controlling interests that are material to the Corporation: As of December 31, summarized statement of financial position Viva Negocio Inmobiliario S.A. Cumbra Peru S.A. Red Vial 5 S.A. Tren Urbano de 2020 2021 2020 2021 2020 2021 2020 2021 Current: Assets 541,703 493,385 1,265,612 1,371,524 72,462 104,292 367,610 344,769 Liabilities (249,816 ) (211,581 ) (1,642,914 ) (1,600,583 ) (45,185 ) (82,915 ) (85,616 ) (106,467 ) Current net assets (liabilities) 291,887 281,804 (377,302 ) (229,059 ) 27,277 21,377 281,994 238,302 Non-current: Assets 120,223 111,528 1,050,747 909,297 403,280 368,258 635,836 669,898 Liabilities (34,378 ) (29,742 ) (397,880 ) (181,716 ) (254,979 ) (221,274 ) (680,905 ) (741,202 ) Non-current net assets (liabilities) 85,845 81,786 652,867 727,581 148,301 146,984 (45,069 ) (71,304 ) Net assets 377,732 363,590 275,565 498,522 175,578 168,361 236,925 166,998 For the years ended December 31 Summarized income statement Viva Negocio Inmobiliario S.A. Cumbra Peru S.A. Red Vial 5 S.A. Tren Urbano de 2020 2021 2020 2021 2020 2021 2020 2021 Revenue 182,439 239,391 1,816,358 2,273,151 134,149 197,137 345,258 348,915 Profit (loss) before income tax 17,816 19,604 (76,669 ) (88,726 ) (2,029 ) 40,473 87,522 61,485 Income tax (2,854 ) (6,644 ) (1,753 ) (6,221 ) 1,405 (6,690 ) (26,681 ) (19,382 ) Profit (loss) for the year 14,962 12,960 (78,422 ) (94,947 ) (624 ) 33,783 60,841 42,103 Other comprehensive income - - 7,368 - - - - - Total comprehensive income for the year 14,962 12,960 (71,054 ) (94,947 ) (624 ) 33,783 60,841 42,103 For the years ended December 31, summary statement of cash flows Viva Negocio Inmobiliario S.A. Cumbra Peru S.A. Red Vial 5 S.A. Tren Urbano For the year ended For the year ended For the year ended For the year ended 2020 2021 2020 2021 2020 2021 2020 2021 Net cash provided from operating activities 84,770 94,017 1,400 (79,810) 37,473 93,515 52,055 41,725 Net cash (applied to) provided from investing activities (473 ) 1,114 (8,835 ) (28,592 ) (12 ) - 812 162 Net cash (applied to) provided from financing activities (71,484 ) (58,834 ) 26,550 21,300 (39,667 ) (69,914 ) (145,788 ) (67,255 ) (Decrease) increase in cash and cash equivalents, net 12,813 36,297 19,115 (87,102 ) (2,206 ) 23,601 (92,921 ) (25,368 ) Cash and cash equivalents at the beginning of the year 60,718 73,531 336,467 355,582 66,286 64,080 300,896 207,975 Cash and cash equivalents at the end of the year 73,531 109,828 355,582 268,480 64,080 87,681 207,975 182,607 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 bifurcated model). 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, 2021: Name of Concessionary Description Estimated investment Consideration Ordinary shares held Concession termination Accounting model Carretera Andina del Sur 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). 100.00 % 2032 Financial asset Carretera Sierra Piura 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. 100.00 % 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 Concessionary Description Estimated investment Consideration Ordinary shares held Concession termination Accounting model Red Vial 5 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 Concesionaria Vía Expresa Sur S.A. The Company obtained the concession for designing, financing, building, operating and aintaining 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 February 2022. 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. 100.00 % 2053 Financial asset c) Main joint operations As of December 31, 2019, 2020 and 2021, the Corporation participates in 51, 52 and 49 joint operations with third parties, respectively. The table below lists the Corporation’s major Joint Operations. Percentage of interest Joint operations 2019 2020 2021 AENZA S.A.A. - Concesionaria La Chira S.A. 50 % 50 % 50 % Cumbra Peru S.A. - Consorcio CDEM 85 % - - - Consorcio Huacho Pativilca 67 % 67 % 67 % - Consorcio GyM – CONCIVILES 67 % 67 % 67 % - Consorcio Chicama - Ascope 50 % 50 % 50 % - Consorcio Constructor Alto Cayma 50 % 50 % 50 % - Consorcio GyM Sade Skanska 50 % - - - Consorcio Menegua 50 % - - - Consorcio Ermitaño 50 % 50 % 50 % - Consorcio GyM-Stracon 50 % 50 % 50 % - Consorcio GyM-OSSA 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 Rio Urubamba 50 % 50 % 50 % - Consorcio Rio Mantaro 50 % - - - Consorcio TNT Vial y Vives - DSD Chile LTDA 50 % - - - Constructora Incolur DSD Limitada 50 % - - - Consorcio Alto Cayma 49 % 49 % 49 % - Consorcio Energia y Vapor 50 % - - - 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 % 49 % - Consorcio Pasco 1 % 1 % 1 % Unna Energia S.A. - Consorcio Terminales 50 % 50 % 50 % - Terminales del Peru 50 % 50 % 50 % Percentage of interest Joint operations 2019 2020 2021 Unna Transporte S.A.C. - Consorcio Ancon-Pativilca 67 % 67 % - - Consorcio Peruano de Conservacion 50 % 50 % 50 % - Consorcio Manperan 67 % 67 % 67 % - Consorcio Vial Sierra 50 % 50 % 50 % - Consorcio Vial Ayahuaylas 99 % 99 % 99 % - Consorcio Vial ICAPAL 10 % 10 % - - Consorcio Vial Sullana 99 % 99 % 99 % - Consorcio Vial del Sur 99 % 99 % 99 % - Consorcio Obras Viales 99 % 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 % 40 % - Consorcio Supervisor GRH - 64 % 83 % - Consorcio Ecotec - GMI - 20 % 20 % All the joint agreements listed above are operated in Peru, Chile and Colombia. The main activities of the joint operations correspond to: Joint Operations in Economic activity AENZA 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. Unna Transporte S.A.C. 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 contract 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, 2021 | |
Disclosure Of Segmental Reporting Explanatory [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) energy, (iii) infrastructure, (iv) real estate and (v) parent company operations. As set forth under IFRS 8, reportable segments based on the level of revenue is: ‘engineering and construction’ and ‘infraestructure’. However, the Corporation has voluntarily decided to report in all its operating segments. Income derived from operations abroad (Chile and Colombia) represent 17.5% of the Corporation’s total income in 2021 (21.2% in 2020 includes Chile, Colombia and Mexico). Inter-segmental sales transactions are entered into at prices that are similar to those that would have been agreed to with unrelated third parties. Revenues from external customers reported are measured in a manner consistent with the basis of preparation of the financial statements. Sales of goods are related to real estate segment. Revenues from services are related to other segments. Corporation sales and receivables are not concentrated in a few customers. There is no external customer that represents 10% or more of the Corporation’s revenue. 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) Energy: Includes the activities of exploration, exploitation, production, treatment and sale of oil, separation and sale of natural gas and its derivatives, as well as the construction and assembly of oil facilities or those linked to the oil and gas industry, as well as the storage and dispatch of fuel and petroleum derivatives. c) 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. d) 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 lease. e) Parent Company Operations: 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, 2020 and 2021, 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: 2019 2020 2021 Net loss (838,642 ) (190,344 ) (117,088 ) Financial income and expenses 178,787 117,523 272,527 Income tax 303,371 58,444 38,738 Depreciation and amortization 219,817 197,125 205,307 Initial EBITDA (136,667 ) 182,748 399,484 Extraordinary adjustments to EBITDA Impairment of investments 261,924 - - Impairment of accounts receivables 332,862 102,148 19,967 Impairment of goodwill 33,089 - - Provisions: civil compensation and legal claims 127,147 89,084 30,457 Provisions for labor claims - 7,434 - Put option on Morelco acquisition - - (70,322 ) Impairment recovery (40,094 ) - - Adjusted EBITDA 578,261 381,414 379,586 EBITDA for each segment is as follows: 2019 2020 2021 Engineering and construction 51,147 55,766 29,318 Energy 180,759 109,443 173,664 Infrastructure 222,795 180,892 197,066 Real estate 56,821 32,555 36,912 Parent company operations (417,954 ) (93,933 ) (18,881 ) Intercompany eliminations 484,693 96,691 (38,493 ) EBITDA 578,261 381,414 379,586 Backlog refers to the expected future revenue undersigned contracts and legally binding letters of intent. The breakdown by operating segments as of December 31, 2021, and the dates in which they are estimated to be realized is shown in the following table: Annual Backlog (No audited) 2021 2022 2023 2024+ Engineering and Construction 1,782,117 602,887 596,639 582,591 Infrastructure 3,627,643 2,224,785 1,183,758 219,100 Real estate 179,848 151,866 27,983 - Intercompany eliminations (453,660 ) (148,826 ) (151,204 ) (153,630 ) 5,135,948 2,830,712 1,657,176 648,061 The following table shows the Corporation’s financial statements by operating segments: Operating segments financial position Segment reporting Infrastructure As of December 31, 2020 Engineering and construction Energy Toll roads Transportation Water treatment 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 410,286 37,614 25,014 111,602 565 38,043 64,390 - 687,514 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 294,296 27,900 23,631 13,220 197 10,446 35,051 2 404,743 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 1,447,811 163,694 213,387 367,610 8,316 541,703 258,531 (219,884 ) 2,781,168 Long-term trade accounts receivable, net 11,663 - 15,740 632,214 - 2,181 27,495 - 689,293 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 assets, net 8,179 9,872 4,626 99 - 3,936 51,401 (13,595 ) 64,518 Deferred income tax asset 174,269 4,717 5,037 - 779 18,704 53,536 5,123 262,165 Total non-current assets 1,068,226 511,053 440,074 635,836 20,110 120,223 2,207,747 (1,757,687 ) 3,245,582 Total assets 2,516,037 674,747 653,461 1,003,446 28,426 661,926 2,466,278 (1,977,571 ) 6,026,750 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 829,082 51,225 51,221 32,637 61 42,565 57,625 - 1,064,416 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 513,505 12,905 35,997 6,719 766 91,976 40,252 4,596 706,716 Provisions 8,876 18,943 1,659 - - 492 62,787 - 92,757 Total current liabilities 1,798,717 118,057 143,477 85,616 993 249,816 279,652 (222,797 ) 2,453,531 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 81,130 37,599 26,034 1,925 - - 148,548 - 295,236 Deferred income tax liability 25,576 36,793 1,518 39,020 - - - - 102,907 Total non-current liabilities 399,927 177,546 290,331 680,905 26,969 34,378 709,343 (341,476 ) 1,977,923 Total liabilities 2,198,644 295,603 433,808 766,521 27,962 284,194 988,995 (564,273 ) 4,431,454 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 interest 55,892 24,162 57,943 59,231 - 238,799 2,885 (111,222 ) 327,690 Total liabilities and equity 2,516,037 674,747 653,461 1,003,446 28,426 661,926 2,466,278 (1,977,571 ) 6,026,750 Operating segments financial position Segment reporting Infrastructure As of December 31, 2021 Engineering and construction Energy Toll roads Transportation Water treatment Real estate Parent Eliminations Consolidated Assets.- Cash and cash equivalent 303,925 121,873 114,100 182,607 7,499 109,828 117,346 - 957,178 Trade accounts receivables, net 366,299 67,662 38,418 106,856 1,003 9,958 84 - 590,280 Work in progress, net 309,063 - - - - - - - 309,063 Accounts receivable from related parties 95,390 121 48,012 4,309 - 3,166 52,644 (182,825 ) 20,817 Other accounts receivable 390,133 31,092 30,057 18,734 960 3,783 12,297 2 487,058 Inventories, net 48,192 35,489 7,662 31,949 13 366,650 - (1,629 ) 488,326 Prepaid expenses 15,838 3,575 6,531 344 52 - 5,802 - 32,142 Total current assets 1,528,840 259,812 244,780 344,799 9,527 493,385 188,173 (184,452 ) 2,884,864 Long-term trade accounts receivable, net 851 - 15,654 666,801 - - - - 683,306 Long-term accounts receivable from related parties 335,150 - 19,700 42 11,536 - 584,596 (307,127 ) 643,897 Prepaid expenses - 981 20,558 1,894 684 - - (510 ) 23,607 Other long-term accounts receivable 10,448 86,815 - - 7,346 57,243 39,508 - 201,360 Investments in associates and joint ventures 108,038 8,951 - - - 5,443 1,559,672 (1,650,931 ) 31,173 Investment property - - - - - 22,416 42,558 (1,963 ) 63,011 Property, plant and equipment, net 142,228 153,456 7,056 749 181 6,845 1,653 (8,998 ) 303,170 Intangible assets, net 142,499 257,580 322,625 351 - 733 14,575 5,028 743,391 Right-of-use assets, net 3,825 3,890 5,308 61 17 1,888 40,789 (8,061 ) 47,717 Deferred income tax asset 179,319 4,717 21,304 - 644 16,960 47,038 5,094 275,076 Total non-current assets 922,358 516,390 412,205 669,898 20,408 111,528 2,330,389 (1,967,468 ) 3,015,708 Total assets 2,451,198 776,202 656,985 1,014,697 29,935 604,913 2,518,562 (2,151,920 ) 5,900,572 Liabilities.- Borrowings 136,512 27,046 3,687 45 18 69,065 13,573 (8,606 ) 241,340 Bonds 4,896 - 36,637 24,496 - - 3,809 - 69,838 Trade accounts payable 767,792 67,686 44,210 30,637 464 30,401 38,894 683 980,767 Accounts payable to related parties 130,848 1,079 47,340 42,185 19 19,155 13,623 (203,245 ) 51,004 Current income tax 59,407 15,748 17,920 - 347 1,058 478 - 94,958 Other accounts payable 560,920 23,116 38,198 9,104 791 91,342 31,510 - 754,981 Provisions 70,585 25,498 4,158 - - 560 54,028 - 154,829 Total current liabilities 1,730,960 160,173 192,150 106,467 1,639 211,581 155,915 (211,168 ) 2,347,717 Borrowings 5,382 121,693 1,721 15 - 5,315 205,244 (810 ) 338,560 Long-term bonds 21,386 - 215,296 602,201 - - 352,201 - 1,191,084 Other long-term accounts payable 54,026 - 8,163 219 2,862 24,427 2,672 - 92,369 Long-term accounts payable to related parties 25,957 - 1,006 88,213 24,671 - 197,844 (286,979 ) 50,712 Provisions 56,362 55,279 33,188 3,039 - - 181,629 - 329,497 Deferred income tax liability 18,665 31,187 - 47,515 - - - - 97,367 Total non-current liabilities 181,778 208,159 259,374 741,202 27,533 29,742 939,590 (287,789 ) 2,099,589 Total liabilities 1,912,738 368,332 451,524 847,669 29,172 241,323 1,095,505 (498,957 ) 4,447,306 Equity attributable to controlling interest in the Company 524,807 378,653 149,904 125,271 763 139,728 1,420,221 (1,539,531 ) 1,199,816 Non-controlling interest 13,653 29,217 55,557 41,757 - 223,862 2,836 (113,432 ) 253,450 Total liabilities and equity 2,451,198 776,202 656,985 1,014,697 29,935 604,913 2,518,562 (2,151,920 ) 5,900,572 Operating segment performance Segment Reporting Infrastructure For the year ended December 31, 2019 Engineering and construction Energy Toll roads Transportation Water treatment Real estate Parent Elimination Consolidated Revenue 2,797,326 552,584 633,301 397,853 3,555 264,401 87,476 (651,492 ) 4,085,004 Gross profit (loss) 98,362 108,291 96,164 119,464 500 70,787 (2,168 ) (49,637 ) 441,763 Administrative expenses (141,421 ) (24,230 ) (28,623 ) (17,991 ) (397 ) (22,045 ) (40,402 ) 61,201 (213,908 ) Other income and expenses, net 9,937 606 (47,998 ) (2,661 ) 12 20,020 (305,749 ) (921 ) (326,754 ) Operating (loss) profit (33,122 ) 84,667 19,543 98,812 115 68,762 (348,319 ) 10,643 (98,899 ) Financial expenses (74,171 ) (13,266 ) (27,297 ) (10,948 ) (12 ) (42,320 ) (101,914 ) 38,219 (231,709 ) Financial income 5,644 2,033 2,245 33,214 826 3,829 73,832 (46,967 ) 74,656 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 (1,075,675 ) 483,202 (474,726 ) Income tax (35,457 ) (22,911 ) (17,112 ) (39,634 ) (506 ) (7,000 ) (196,219 ) (1,118 ) (319,957 ) (Loss) profit from continuing operations (140,664 ) 52,816 (22,621 ) 81,444 423 23,729 (1,271,894 ) 482,084 (794,683 ) (Loss) from discontinuing operations - - - - - - (42,857 ) (1,102 ) (43,959 ) (Loss) profit for the year (140,664 ) 52,816 (22,621 ) 81,444 423 23,729 (1,314,751 ) 480,982 (838,642 ) (Loss) profit from attributable to: Owners of the Company (137,109 ) 48,056 (28,270 ) 61,084 423 (4,995 ) (1,304,676 ) 480,766 (884,721 ) Non-controlling interest (3,555 ) 4,760 5,649 20,360 - 28,724 (10,075 ) 216 46,079 (140,664 ) 52,816 (22,621 ) 81,444 423 23,729 (1,314,751 ) 480,982 (838,642 ) Operating segment performance Segment Reporting Infrastructure For the period ended December 31, 2020 Engineering and construction Energy Toll roads Transportation Water treatment Real estate Parent Elimination Consolidated Revenue 2,092,592 369,798 466,824 345,258 3,359 182,439 71,197 (385,062 ) 3,146,405 Gross profit (loss) 115,995 53,251 40,858 107,918 366 40,345 (2,344 ) (46,137 ) 310,252 Administrative expenses (102,985 ) (16,119 ) (16,584 ) (12,738 ) (289 ) (16,462 ) (23,647 ) 54,811 (134,013 ) Other income and expenses, net (43,573 ) (4,185 ) (79,576 ) 72 42 1,962 (55,984 ) 60 (181,182 ) Operating (loss) profit (30,563 ) 32,947 (55,302 ) 95,252 119 25,845 (81,975 ) 8,734 (4,943 ) Financial expenses (54,173 ) (17,525 ) (32,376 ) (9,316 ) (275 ) (12,647 ) (48,371 ) 28,328 (146,355 ) Financial income 8,792 2,239 4,326 1,586 897 4,584 47,402 (30,510 ) 39,316 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 (181,610 ) 103,563 (111,212 ) Income tax (3,614 ) (7,500 ) (13,477 ) (26,681 ) (277 ) (2,854 ) (7,768 ) (37 ) (62,208 ) (Loss) profit from continuing operations (79,558 ) 12,552 (96,829 ) 60,841 464 14,962 (189,378 ) 103,526 (173,420 ) Loss from discontinuing operations - - - - - - (16,919 ) (5 ) (16,924 ) (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 interest (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 ) Operating segment performance Segment Reporting Infrastructure For the Period ended December 31, 2021 Engineering and construction Energy Toll roads Transportation Water treatment Real estate Parent Company operations Elimination Consolidated Revenue 2,559,071 541,859 515,382 348,915 3,650 239,391 67,202 (328,988 ) 3,946,482 Gross profit (loss) 121,058 110,078 81,964 81,993 1,322 42,025 3,372 (46,674 ) 395,138 Administrative expenses (125,094 ) (14,575 ) (14,460 ) (14,267 ) (449 ) (14,911 ) (46,193 ) 50,336 (179,613 ) Other income and expenses, net 40,301 (4,400 ) (3,683 ) 1,537 4 1,337 (38,705 ) (868 ) (4,477 ) Operating profit (loss) 36,265 91,103 63,821 69,263 877 28,451 (81,526 ) 2,794 211,048 Financial expenses (121,712 ) (14,705 ) (29,442 ) (8,298 ) (124 ) (11,947 ) (118,676 ) 42,330 (262,574 ) Financial income 1,870 1,034 2,544 520 510 2,269 40,740 (43,714 ) 5,773 Dividends - - - - - - 20,008 (20,008 ) - Share of profit or loss in associates and joint ventures (1,794 ) 2,833 - - - 831 32,638 (35,369 ) (861 ) (Loss) profit before income tax (85,371 ) 80,265 36,923 61,485 1,263 19,604 (106,816 ) (53,967 ) (46,614 ) Income tax (11,435 ) (22,469 ) (10,012 ) (19,382 ) (500 ) (6,644 ) 26,808 (66 ) (43,700 ) (Loss) profit from continuing operations (96,806 ) 57,796 26,911 42,103 763 12,960 (80,008 ) (54,033 ) (90,314 ) Loss from discontinuing operations - - - - - - (26,716 ) (58 ) (26,774 ) (Loss) profit for the year (96,806 ) 57,796 26,911 42,103 763 12,960 (106,724 ) (54,091 ) (117,088 ) (Loss) profit from attributable to: Owners of the Company (93,600 ) 51,294 15,946 31,577 763 794 (106,677 ) (53,307 ) (153,210 ) Non-controlling interest (3,206 ) 6,502 10,965 10,526 - 12,166 (47 ) (784 ) 36,122 (96,806 ) 57,796 26,911 42,103 763 12,960 (106,724 ) (54,091 ) (117,088 ) Segments by geographical area: 2019 2020 2021 Revenues: - Peru 3,499,074 2,477,435 3,255,214 - Chile 344,169 514,907 585,317 - Colombia 241,761 151,876 105,951 - Mexico - 2,187 - 4,085,004 3,146,405 3,946,482 Non-current assets: - Peru 2,992,173 2,892,369 2,757,633 - Chile 235,803 245,727 159,309 - Colombia 123,758 107,486 98,766 3,351,734 3,245,582 3,015,708 |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of derivative financial instruments [text block] [Abstract] | |
FINANCIAL INSTRUMENTS | 8 FINANCIAL INSTRUMENTS 8.1 Financial instruments by category As of December 31, the classification of financial assets and liabilities by category is as follows: 2020 2021 Financial assets according to the statement of financial position Loans and accounts receivable at amortized cost: - Cash and cash equivalents 900,168 957,178 - Trade accounts receivable and other accounts receivable (excluding non-financial assets) 1,092,763 974,196 - Financial assets related to concession agreements 775,677 814,293 - Accounts receivable from related parties 647,409 664,714 3,416,017 3,410,381 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. 2020 2021 Financial liabilities according to the statement of financial position Other financial liabilities at amortized cost: - Other financial liabilities 773,203 509,557 - Finance leases 52,391 9,836 - Lease liability for right-of-use asset 72,726 60,507 - Bonds 932,759 1,260,922 - Trade and other accounts payable(excluding non-financial liabilities) 1,403,074 1,178,830 - Accounts payable to related parties 80,115 101,716 3,314,268 3,121,368 Other financial liabilities: - Other provisions 534,207 576,194 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: 2020 2021 Cash and cash equivalents (*) Banco de Credito del Peru S.A. (A+) 351,515 492,076 Citibank del Peru S.A. (A+) 128,100 110,232 Banco BBVA Peru S.A. (A+) 147,868 109,344 Scotiabank Peru S.A.A. (A+) 52,448 83,192 Banco Internacional del Peru S.A.A. (A+) 45,808 77,497 Banco Santander Chile (AAA) 17,174 32,835 Banco de la Nacion (A) 22,882 22,627 Banco de Bogota (BB+) 12,194 13,950 Banco Santander Perú S.A. (A+) 54,478 2,878 Banco Interamericano de Finanzas S.A. (A+) 277 2,114 Banco Pichincha S.A.A. (A) 2 2,045 Scotiabank Chile (A+) 2,114 1,566 Bancolombia S.A. (AAA) 8,516 937 Banco Santander de Negocios Colombia S.A. (AAA) 18,256 139 Banco de Credito e Inversiones Chile (AAA) 8,579 112 Alianza Fiduciaria S.A. (AA+) 21,247 51 Other 5,374 2,426 896,832 954,020 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. 2020 2021 Trade accounts receivable (Note 10) Counterparties with no external risk rating A 40,034 28,156 B 1,218,497 1,234,437 C 118,276 10,993 1,376,807 1,273,586 Receivable from related parties and joint operators (Note 12) B 647,409 664,714 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, 2021 | |
Disclosure of cash and cash equivalents [text block] [Abstract] | |
CASH AND CASH EQUIVALENTS | 9 CASH AND CASH EQUIVALENTS As of December 31, this account comprises: 2020 2021 Cash on hand 996 936 Remittances in-transit 2,340 2,222 Bank accounts Current accounts 161,227 142,029 Banco de la Nacion 20,862 19,847 Savings deposits and mutual funds 9,038 62 Time deposits (less than 3 months) (a) 95,265 205,302 286,392 367,240 Escrow account (b) Operational funds 298,435 261,001 Reserve funds 144,737 163,939 Consortium funds 122,088 78,589 Guarantee funds 45,180 83,251 610,440 586,780 Total Cash and Cash equivalents 900,168 957,178 (a) Time deposits have maturities less than 90 days and may be renewed upon maturity. These deposits earn interest that fluctuates between 0.26% and 1.75%. Financial Interest entities rate 2020 2021 AENZA S.A.A. Banco de Credito del Peru S.A. 0.26 % 6,500 100,583 Tren Urbano de Lima S.A. Banco de Credito del Peru S.A. 1.70 % 65,000 55,000 Unna Energia S.A. Banco Internacional del Peru S.A.A. 0.35 % - 32,197 Unna Energia S.A. Banco de Credito del Peru S.A. 0.30 % 905 11,130 Concesionaria La Chira S.A. Banco BBVA Peru S.A. 1.65 % 6,250 4,000 Cumbra Ingenieria S.A. Banco de Credito del Peru S.A. 1.75 % - 2,392 Red Vial 5 S.A. Banco de Credito del Peru S.A. 0.25 % 7,429 - Carretera Andina del Sur S.A.C. Banco de Credito del Peru S.A. 0.15 % 4,800 - Carretera Sierra Piura S.A.C. Banco de Credito del Peru S.A. 0.25 % 4,381 - 95,265 205,302 (b) The Corporation maintains trust accounts in local and foreign banks classified as: i) operating funds and consortium funds that are for the exclusive use of projects; and ii) reserve and guarantee funds that are intended to meet the payment of bonds issued and other obligations of the Corporation. |
Trade Accounts Receivables, Net
Trade Accounts Receivables, Net | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of trade and other receivables [text block] [Abstract] | |
TRADE ACCOUNTS RECEIVABLES, NET | 10 TRADE ACCOUNTS RECEIVABLES, NET As of December 31, this account comprises: Total Current Non-current 2020 2021 2020 2021 2020 2021 Trade Receivables, net (a) 753,693 773,575 254,587 269,427 499,106 504,148 Unbilled receivables - Subsidiaries (b) 356,338 209,258 321,591 209,258 34,747 - Unbilled receivables - Concessions (c) 266,776 290,753 111,336 111,595 155,440 179,158 1,376,807 1,273,586 687,514 590,280 689,293 683,306 The fair value of current accounts receivable it is similar to its book value since its average collection period is less than 60 days. These accounts receivable do not accrue interest and do not have specific guarantees. As of December 31, trade accounts receivable corresponds to: 2020 2021 Tren Urbano de Lima S.A. 743,816 773,657 Cumbra Peru S.A. 378,784 323,455 Unna Energia S.A. 37,614 67,662 Cumbra Ingenieria S.A. 43,165 43,695 Red Vial 5 S.A. 15,572 22,458 Unna Transporte S.A.C. 9,458 14,439 Carretera Andina del Sur S.A.C. 10,631 12,686 Viva Negocio Inmobiliario S.A. 40,224 9,958 Carretera Sierra Piura S.A.C. 5,093 4,489 Concesionaria La Chira S.A. 565 1,003 Adexus S.A. 91,669 - Others 216 84 1,376,807 1,273,586 The maximum exposure to credit risk at the reporting date is the carrying amount of accounts receivable and work in progress, net (Note 11). a) The detail of the age of the commercial receivables net of impairment corresponds as follows: 2020 2021 Current 718,220 683,921 Past due up to 30 days 5,737 41,222 Past due from 31 days up to 90 days 6,801 11,668 Past due from 91 days up to 120 days 2,279 15,814 Past due from 121 days up to 360 days 4,185 7,070 Past due over 360 days 16,471 13,880 753,693 773,575 b) The unbilled receivables of subsidiaries in the Engineering and Construction segment are documents related to the estimates of the degree of progress for services rendered that were not billed, and services pending billing for the other subsidiaries, as follows: 2020 2021 Cumbra Peru S.A. 258,852 170,063 Cumbra Ingenieria S.A. 25,823 24,177 Unna Transporte S.A.C. 6,298 10,291 Unna Energia S.A. 1,512 4,718 Adexus S.A. 63,853 - Others - 9 356,338 209,258 Below are the unbilled receivables of subsidiaries grouped by the main projects: 2020 2021 Infrastructure Operation and maintenance of roads 4,167 9,192 Others 2,131 1,099 6,298 10,291 Energy 1,512 4,718 Engineering and Construction Cumbra Peru S.A. - Concentrator Plant and tunnel of Quellaveco 84,014 50,148 Cumbra Peru S.A. - Talara Refinery 28,956 43,677 Vial y Vives - DSD S.A. - Engineering and Construction Works 43,159 40,714 Cumbra Peru S.A. - Gasoducto Piura Project - 13,220 Cumbra Peru S.A. - Works and Consortiums 6,576 12,080 Morelco S.A.S. - Engineering and Construction Works 16,066 5,751 Cumbra Ingenieria S.A. - Mina Gold Fields La Cima S.A. Project 15,055 3,872 Cumbra Ingenieria S.A. - Mina Justa Project 1,743 446 Cumbra Peru S.A. - Civil Works, Assembly and Electromechanics - Acero Arequipa 1,357 - Others 87,749 24,332 284,675 194,240 Parent Company Operation 63,853 9 356,338 209,258 c) The unbilled receivables of Concessions corresponds to future collections for public services granted according to the financial model (Note 2.5), as follows: 2020 2021 Tren Urbano de Lima S.A. 235,763 256,526 Carretera Andina del Sur S.A.C. 10,611 12,667 Red Vial 5 S.A. 15,436 16,451 Carretera Sierra Piura S.A.C. 4,401 4,489 Concesionaria La Chira S.A. 565 620 266,776 290,753 The long-term 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 2020 2021 2020 2021 Tren Urbano de Lima S.A. 590,092 605,775 783,643 624,137 d) The movement of impairment in trade accounts receivable is as follows: 2019 2020 2021 Balance at January, 1 (7,633 ) (8,422 ) (56,630 ) Impairment, net (Note 26.iii) (955 ) (19,772 ) (1,061 ) Impairment, net (Note 28.b) - (33,874 ) 84 Write-off (*) 12 5,653 8,340 Exchange difference 37 (212 ) (336 ) Translation adjustments 117 (3 ) (1 ) Balance at December, 31 (8,422 ) (56,630 ) (49,604 ) (*) In 2021, corresponds mainly to the write-offs generated in Cumbra Peru for S/4.2 million, Tren Urbano de Lima S.A. for S/3.5 million, and others for S/0.6 million (in 2020, Cumbra Peru for S/5.7 million). |
Work in Progress, Net
Work in Progress, Net | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Unbilled Work In Progress Explanatory [Abstract] | |
WORK IN PROGRESS, NET | 11 WORK IN PROGRESS, NET As of December 31, this account comprises: 2020 2021 Cumbra Peru S.A. 170,965 304,940 Cumbra Ingenieria S.A. 15,468 4,123 186,433 309,063 The work in progress 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. Below is the work in progress grouped by the main projects: 2020 2021 Vial y Vives - DSD S.A. - Modernization and expansion of Arauco Plant 24,224 139,025 Vial y Vives - DSD S.A. - Quebrada Blanca Project 73,337 64,777 Cumbra Peru S.A. - Concentrator Plant and tunnel of Quellaveco 68,701 82,253 Cumbra Peru S.A. - Jorge Chavez Airport - 16,602 Cumbra Peru S.A. - Talara Refinery 15,468 - Others 4,703 6,406 186,433 309,063 |
Transactions With Related Parti
Transactions With Related Parties And Joint Operators | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of related party [text block] [Abstract] | |
Transactions With Related Parties And Joint Operators | 12 TRANSACTIONS WITH RELATED PARTIES AND JOINT OPERATORS a) Transactions with related parties The main transactions between the Company and its related parties are summarized as follows: 2019 2020 2021 Revenue from sales of goods and services: - Joint operations 44,130 15,903 22,374 - Associates 108 5 - 44,238 15,908 22,374 Purchase of goods and services: - Joint operations 1,765 - - - Associates - 1,225 4,478 1,765 1,225 4,478 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), members of the Executive Committee and Internal Audit Management. Compensation paid or payable to key management in 2021 amounted to S/23.3 million (S/22.7 million in 2020 and S/28 million in 2019) an c) Balances at the end of the year were: As of December 31, As of December 31, 2020 2021 Receivable Payable Receivable Payable Current portion: Joint operations Consorcio Rio Urubamba 9,357 - 9,792 - Consorcio Inti Punku - 6,556 1,865 1,733 Consorcio GyM Conciviles 1,341 1,472 1,479 1,074 Consorcio Italo Peruano 1,520 217 1,394 106 Consorcio Manperan 1,057 656 1,389 4,968 Consorcio Ermitaño 890 474 1,028 515 Consorcio Peruano de Conservacion 3,156 - 654 2,392 Consorcio Norte Pachacutec 1,077 1,192 125 282 Terminales del Peru 501 161 92 399 Consorcio Constructor Chavimochic - 6,208 - 9,301 Consorcio Rio Mantaro - 7,655 - 7,043 Consorcio Vial Quinua - 2,051 - 1,947 Consorcio Chicama Ascope 2,922 - - - Consorcio CDEM 1,111 - - 1,545 Consorcio GyM-Stracon - 644 - 143 Consorcio TNT Vial y Vives - DSD Chile Ltda - 1,015 - 633 Others 2,446 1,701 288 1,803 25,378 30,002 18,106 33,884 Other related parties Ferrovias S.A. - 11,139 - 15,513 Peru Piping Spools S.A.C. 1,960 2,677 2,711 1,607 1,960 13,816 2,711 17,120 Current portion 27,338 43,818 20,817 51,004 Non-current portion Gasoducto Sur Peruano S.A. 620,071 - 643,897 - Ferrovias S.A. - 12,862 - 14,690 Ferrovias Participaciones S.A. - 23,435 - 36,022 Non-current 620,071 36,297 643,897 50,712 Accounts receivable and payable are mainly of current maturity and have no specific guarantees; except for accounts receivable from GSP and Ferrovias Participations S.A. These balances do not generate interest considering their maturity in the short term. The non-current balance corresponds to the obligations arising from the early termination of the GSP project (Note 15 a-i). As of December 31, 2021, the book value of the non-current account receivable registered by the Company, for S/400 million, was recorded using the discounted cash flow method, at a rate of 2.73% (1.6% in 2020) that originated a value of discount of S/77 million equivalent to US$20 million (S/364 million and S/43 million equivalent to US$12 million, as of December 31, 2020, respectively). Additionally, as a result of the early termination of the GSP, and related facts, the subsidiary Cumbra Peru S.A. it has balances from the Consorcio Constructor Ductos del Sur (CCDS) to those who had previously deteriorated in 2016, it was integrated in the consolidation under the proportional participation method. As of December 31, 2021, the value of accounts receivable from CCDS corresponds mainly to collection rights to GSP for S/321 million, which includes S/289 million receivables from CCDS and S/32 million for lost profits (as of December 31, 2020, S/299 million which includes S/267 million and S/32 million, respectively). Transactions with non-controlling interests are disclosed in Note 35. |
Other Accounts Receivable
Other Accounts Receivable | 12 Months Ended |
Dec. 31, 2021 | |
Other Accounts Receivable [Abstract] | |
OTHER ACCOUNTS RECEIVABLE | 13 OTHER ACCOUNTS RECEIVABLE As of December 31, this account comprises: Total Current Non-current 2020 2021 2020 2021 2020 2021 Advances to suppliers (a) 76,200 33,769 76,200 33,769 - - Income tax on-account payments (b) 48,052 44,072 48,052 44,072 - - VAT credit (c) 54,076 47,295 43,498 38,924 10,578 8,371 Guarantee deposits (d) 204,474 199,132 143,156 185,334 61,318 13,798 Claims to third parties (e) 196,744 215,943 92,927 186,065 103,817 29,878 Petroleos del Peru S.A.- Petroperu S.A. (f) 87,826 106,077 17,132 19,262 70,694 86,815 ITAN and other tax receivable 63,003 48,378 30,468 17,302 32,535 31,076 Restricted funds (g) 29,121 7,346 2,092 - 27,029 7,346 Rental and sale of equipment - Cumbra Peru S.A. projects 29,149 32,827 29,149 32,827 - - Accounts receivable from personneel 10,957 16,963 10,957 16,963 - - Consorcio Panorama (h) 25,026 27,193 - - 25,026 27,193 Other minors 10,388 38,993 9,738 38,854 650 139 835,016 817,987 503,369 613,371 331,647 204,616 Impairment (i) (102,050 ) (129,569 ) (98,626 ) (126,313 ) (3,424 ) (3,256 ) 732,966 688,418 404,743 487,058 328,223 201,360 The fair value of the other short-term accounts receivable is similar to their book value due to their short-term maturity. The other non-current accounts receivable correspond mainly to the account claims to third parties and have maturities between 2 and 5 years. 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: 2020 2021 Advances - joint operations vendors 36,803 12,547 Alstom Transporte - Linea 1 5,786 3,691 Advances - Talara Refinery 6,951 2,404 Others 26,660 15,127 76,200 33,769 (b) Income tax pre-payments, consist of income tax payments and credits in the following subsidiaries: 2020 2021 Cumbra Peru S.A. 35,599 25,539 Tren Urbano de Lima S.A. - 9,990 Cumbra Ingenieria S.A. 3,532 4,331 AENZA S.A.A. 1,348 1,129 Unna Energia S.A. 1,883 932 Unna Transporte S.A.C. 3,340 844 Qualys S.A. 559 502 Carretera Andina del Sur S.A.C. 141 370 Viva Negocio Inmobiliario S.A. 1,351 47 Others 299 388 48,052 44,072 (c) Tax credit related to VAT on the following subsidiaries: Total Current Non-current 2020 2021 2020 2021 2020 2021 Cumbra Peru S.A. 12,868 12,737 12,868 12,737 - - Via Expresa Sur S.A. (*) 6,222 6,256 6,222 6,256 - - Viva Negocio Inmobiliario S.A. 8,111 6,110 953 514 7,158 5,596 Unna Transporte S.A.C. 1,527 5,333 1,527 5,333 - - Tren Urbano de Lima S.A. 3,335 4,266 3,335 4,266 - - AENZA S.A.A. 648 3,715 648 3,715 - - Cumbra Ingenieria S.A. 13,754 1,947 13,754 1,947 - - Unna Energia S.A. 678 1,911 678 1,911 - - Carretera Andina del Sur S.A.C. 2,631 1,475 2,631 1,475 - - Others 4,302 3,545 882 770 3,420 2,775 54,076 47,295 43,498 38,924 10,578 8,371 (*) This item includes the tax credit of the concessionaire Via Expresa Sur S.A for S/6.2 million which has been impaired as of December 31, 2020 (i). 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 Cumbra Peru 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 2020 2021 2020 2021 2020 2021 Vial y Vives - DSD S.A. - Minera Teck 64,175 79,126 64,175 79,126 - - Talara Refinery 58,831 59,651 812 49,222 58,019 10,429 Concentrator Plant and tunnel of Quellaveco 23,699 12,133 23,699 12,133 - - Morelco S.A.S. - Engineering and Construction Works 14,108 6,617 14,108 6,617 - - Joint operations retention 16,825 3,245 16,825 3,245 - - Others 26,836 38,360 23,537 34,991 3,299 3,369 204,474 199,132 143,156 185,334 61,318 13,798 (e) Third-party claims – corresponds mainly to: Total Current Non-current 2020 2021 2020 2021 2020 2021 Tecnicas Reunidas - Talara (e.1) 53,635 63,809 - 63,809 53,635 - Municipalidad Metropolitana de Lima (e.2) 49,625 49,632 49,625 49,632 - - Ministerio de Vivienda and Fondo Mi Vivienda 21,816 23,953 - - 21,816 23,953 Accounts receivable from joint venture 45,040 59,917 22,505 59,917 22,535 - Others 26,628 18,632 20,797 12,707 5,831 5,925 196,744 215,943 92,927 186,065 103,817 29,878 (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 enforced 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, 2021, the balance of this item at nominal value amounts to US$17.3 million equivalent to S/68.6 million (at present value the balance amounts to US$14.8 million equivalent to S/63.8 million). (e.2) Account receivable – Concession Via Expresa Sur S.A. Includes account recivable of the Municipalidad Metropolitana de Lima related to concession agreements for S/49.6 million, which is fully impaired. (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, 2021, includes restricted funds for bank certificates under guarantee, S/7.3 million corresponds to the reserve account of the Concesionaria La Chira S.A. (S/19.1 million of AENZA S.A.A., S/0.9 million of the subsidiary Viva Negocio Inmobiliario S.A., S/7.3 million of the Concesionaria La Chira S.A. and other subsidiaries for S/1.8 million (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 2019, 2020 and 2021 was as follows: Total Tax credit Guaranties Retention Claims to third parties At January 1, 2019 (25,567 ) - - (25,567 ) Impairment of Sucursal Colombia (Note 26.iii) (3,283 ) - - (3,283 ) Impairment of Unna Transporte S.A.C. (Note 26.iii) (1,457 ) - - (1,457 ) Impairment of Cumbra Peru S.A. (Note 26.iii) (937 ) - - (937 ) Impairment of other minors (Note 26.iii) (27 ) - - (27 ) Reversal of impairment 32 - - 32 Exchange difference 387 - - 387 Translations adjustments 154 - 165 (11 ) At December 31, 2019 (30,698 ) - 165 (30,863 ) At January 1, 2020 (30,698 ) - 165 (30,863 ) Impairment of Unna Transporte S.A.C. (Note 26.iii) (11,431 ) - - (11,431 ) Impairment of Cumbra Peru S.A. (Note 26.iii) (828 ) - - (828 ) Impairment of other minors (Note 26.iii) (59 ) - - (59 ) Impairment of Cam Holding S.P.A. (Note 28.c) (12,511 ) - (12,511 ) - Impairment of Concesionaria Via Expresa Sur S.A. (Note 28.b) (55,847 ) (6,222 ) - (49,625 ) Impairment of other minors (Note 28.b) (513 ) - - (513 ) Write-off 12,205 - 12,530 (325 ) Exchange difference (2,188 ) - - (2,188 ) Translations adjustments (180 ) - (184 ) 4 At December 31, 2020 (102,050 ) (6,222 ) - (95,828 ) At January 1, 2021 (102,050 ) (6,222 ) - (95,828 ) Impairment of Unna Transporte S.A.C. (Note 26.iii) (227 ) - - (227 ) Impairment of Cumbra Peru S.A. (Note 26.iii) (964 ) - - (964 ) Impairment of other minors (Note 26.iii) (114 ) - - (114 ) Impairment of AENZA S.A.A. (Note 28.c) (19,967 ) - - (19,967 ) Impairment of other minors (34 ) - - (34 ) Reversal of impairment (Note 26.iii) 128 - - 128 Write-off 986 - - 986 Exchange difference (2,400 ) - - (2,400 ) Translations adjustments (4,927 ) - - (4,927 ) At December 31, 2021 (129,569 ) (6,222 ) - (123,347 ) |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of inventories [text block] [Abstract] | |
INVENTORIES | 14 INVENTORIES As of December 31, this account comprises: 2020 2021 Land 176,927 175,087 Work in progress - Real estate 164,514 117,341 Finished properties 78,048 75,085 Construction materials 58,621 49,403 Merchandise and supplies 80,142 80,051 558,252 496,967 Impairment of inventories (6,252 ) (8,641 ) 552,000 488,326 Land Land includes properties for the development of the following projects of the subsidiary Viva Negocio Inmobiliario S.A. As of December 31, 2021, the land impairment provision equals S/1.2 million (S/1.2 million in 2020): 2020 2021 Lurin (a) 81,493 84,648 San Isidro (b) 51,626 51,850 Nuevo Chimbote (c) 17,616 18,624 Barranco (d) 14,432 14,640 Piura (e) 11,760 5,325 176,927 175,087 (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 building with 24 apartments and 124 parking lots will be built. (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 Veintiseis de Octubre, province of Piura with an area of 10,000 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: 2020 2021 Los Parques de Comas 66,114 63,213 Los Parques del Callao 26,613 27,235 Los Parques del Mar 44,683 20,044 Los Parques de Carabayllo III 10,266 - Los Parques de Piura 9,514 - Inmobiliaria Pezet 417 S.A.C. 4,459 - Others 2,865 6,849 164,514 117,341 During 2021, the Corporation has capitalized financing costs of these construction projects (Note 2.21) amounting to S/1 million at annual interest rates between 7% and 11% (S/3.8 million in 2020 at interest rates between 7% and 11%). Finished properties As of December 31, the balance of finished properties consists of the following investment properties: 2020 2021 Los Parques de Comas 32,098 27,185 Los Parques de Carabayllo III 8,518 14,757 Los Parques del Mar - 13,885 Huancayo 13,033 7,918 Strip Callao 6,286 6,286 Los Parques de Callao 14,479 2,441 Los Parques de Piura 1,034 430 El Nuevo Rancho 1,284 - Others 1,316 2,183 78,048 75,085 As of December 31, 2021, the balance of finished properties is net of an impairment of S/3.7 million (S/3.8 million as of December 31, 2020). Construction materials As of December 31, 2021, the construction materials correspond mainly to projects of the subsidiary Cumbra Peru S.A. for S/47 million (Cumbra Peru S.A. for S/53.1 million as of December 31, 2020). |
Investments in Associates and J
Investments in Associates and Joint Ventures | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of joint ventures [text block] [Abstract] | |
Schedule of investments in associates and joint ventures | 15 INVESTMENTS IN ASSOCIATES AND JOINT VENTURES As of December 31, this account comprises: 2020 2021 Associates 27,246 22,047 Joint ventures 8,270 9,126 35,516 31,173 The amounts recognized in the income statement as the value of the equity interest are as follows: 2019 2020 2021 Associates (220,993 ) (1,635 ) (3,693 ) Joint ventures 2,219 2,405 2,832 (218,774 ) 770 (861 ) a) Investment in associates Set out in the table below are the associates of the Corporation as of December 31, 2020 and 2021. 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 Class Interest in capital At December 31, Entity of share 2020 2021 2020 2021 % % Gasoducto del Peru S.A. ( * ) Common - - - - Concesionaria Chavimochic S.A.C. Common 26.50 26.50 18,058 16,295 Obratres S.A.C. Common 37.50 37.50 3,812 3,400 Inversiones Maje S.A.C. Common 9.59 9.59 2,283 2,043 Peru Piping Spools S.A.C. Common 33.33 33.33 2,760 - Otros Common 333 309 27,246 22,047 (*) Mainly corresponds to a write-off of the investment in Gasoducto Sur Peruano S.A. as a whole. The movement of the investments in associates is as follows: 2019 2020 2021 Opening balance 250,282 28,875 27,246 Dividends received - - (1,483 ) Equity interest in results (220,993 ) (1,635 ) (3,693 ) Impairment of investment (374 ) (38 ) - Conversion adjustment (40 ) 44 (23 ) Final balance 28,875 27,246 22,047 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 “ 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 On December 4, 2017, GSP entered into a bankruptcy proceeding before the National Institute for the Defense of Competition and Intellectual Protection of Peru (INDECOPI). The Corporation registered a claim for accounts receivable for US$0.4 million and US$169.3 million that is held in trust for the benefit of the Company’s creditors. The debt recognition stage of the bankruptcy process has concluded and we are now awaiting the call of the Creditors’ Assembly. On December 21, 2018, the Company submitted to the Peruvian Government a direct deal demanding the payment of the VCN in favor of GSP. On October 18, 2019, the Company filed with CIADI a request for arbitration. On December 27, 2019 the Company withdrew the arbitration in compliance with a preliminary agreement of effective collaboration signed with the Prosecutor and the Ad hoc State Counsel on the same date (Note 1). As of December 31, 2021, the fair value of the investment in GSP was calculated in US$81.1 million, equivalent to S/322.6 million (as of December 31, 2020, US$88.6 million, equivalent to S/320 million) and recorded an accumulated impairment amount of US$82.8 million (S/329 million), the Corporation’s management maintains the 8-year investment recovery estimate; however, it has updated the discount rate used in its estimates from 1.6% to 2.73%, resulting in an amortized cost discounting gain of US$7.5 million (S/29.8 million). The Company and 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, which is currently in process and close to the stage that corresponds to the arbitral decision. 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 Chavimochic S.A.C. At December, 31 Entity 2020 2021 Current Assets 58,814 64,161 Liabilities (4,795 ) (3,450 ) Non-current Assets 11,635 10,864 Liabilities - (10,085 ) Net assets 65,654 61,490 Administrative expenses (4,521 ) (7,641 ) Loss operative (4,521 ) (7,641 ) Others 3,534 4,153 Loss of the year (987 ) (3,488 ) Total comprehensive loss (987 ) (3,488 ) 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 2020 2021 2020 2021 % % Logistica Quimicos del Sur S.A.C. Common 50.00 50.00 8,080 8,951 Constructora SK-VyV Ltda. Common 50.00 50.00 34 31 Others - - 156 144 8,270 9,126 The movement of the investments in joint ventures was as follows: 2019 2020 2021 Opening balance 7,483 8,160 8,270 Equity interest in results 2,219 2,405 2,832 Dividends received (1,517 ) (2,318 ) (1,962 ) Conversion adjustment (14 ) 23 (14 ) Impairment of investment (11 ) - - Final balance 8,160 8,270 9,126 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. 2020 2021 Current Cash and cash equivalents 2,710 3,096 Other current assets 3,324 2,068 Total current assets 6,034 5,164 Other current liabilities (6,108 ) (3,899 ) Total current liabilities (6,108 ) (3,899 ) Non-current Total non-current assets 35,715 34,027 Total non-current liabilities (19,484 ) (17,392 ) Net assets 16,157 17,900 Revenue 13,351 14,847 Depreciation and amortization (2,394 ) (2,400 ) Interest expense (508 ) (366 ) Profit from continuing operations 6,854 8,140 Income tax expense (2,072 ) (2,473 ) Profit from continuing operations 4,782 5,667 Total comprehensive income 4,782 5,667 The Corporation received dividends in 2021 from Logistica Quimicos del Sur S.A. for S/2 million (S/2.3 million in 2020). |
Investment Property, Property,
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of property, plant and equipment [text block] [Abstract] | |
INVESTMENT PROPERTY, PROPERTY, PLANT AND EQUIPMENT, NET AND RIGHT-OF-USE ASSETS | 16 INVESTMENT PROPERTY, PROPERTY, PLANT AND EQUIPMENT, NET AND RIGHT-OF-USE ASSETS 16.1. INVESTMENT PROPERTY The movement in investment property and its related accumulated depreciation for the year ended December 31, 2019, 2020 and 2021 is as follows: Land Buildings Buildings Total At January 1, 2019 Cost 2,220 41,993 46 44,259 Accumulated depreciation and impairment - (15,126 ) - (15,126 ) Net carrying amount 2,220 26,867 46 29,133 Net initial carrying amount - At January 1, 2019 2,220 26,867 46 29,133 Additions - 14 74 88 Depreciation charge - (2,356 ) - (2,356 ) Transfers (b) 273 1,187 - 1,460 Reclassifications - 108 (108 ) - Translations adjustments 1 - - 1 Net final carrying amount - At December 31, 2019 2,494 25,820 12 28,326 At January 1, 2020 Cost 2,494 43,302 12 45,808 Accumulated depreciation and impairment - (17,482 ) - (17,482 ) Net carrying amount 2,494 25,820 12 28,326 Net initial carrying amount - At January 1, 2020 2,494 25,820 12 28,326 Additions - 58 40 98 Depreciation charge - (2,413 ) - (2,413 ) Reclassifications - 32 (32 ) - Translations adjustments 11 51 - 62 Net final carrying amount - At December 31, 2020 2,505 23,548 20 26,073 At December 31, 2020 Cost 2,505 43,443 20 45,968 Accumulated depreciation and impairment - (19,895 ) - (19,895 ) Net carrying amount 2,505 23,548 20 26,073 Net initial carrying amount - At January 1, 2021 2,505 23,548 20 26,073 Additions - 28 124 152 Depreciation charge - (4,316 ) - (4,316 ) Transfers (b) 10,692 30,458 - 41,150 Reclassifications - 123 (123 ) - Translations adjustments (9 ) (39 ) - (48 ) Net final carrying amount - At December 31, 2021 13,188 49,802 21 63,011 At December 31, 2021 Cost 13,188 74,013 21 87,222 Accumulated depreciation and impairment - (24,211 ) - (24,211 ) Net carrying amount 13,188 49,802 21 63,011 Investment properties correspond mainly to: (a) The subsidiary Viva Negocio Inmobiliario S.A. owner of the “Agustino Plaza” Shopping Center, located in the District of El Agustino, and the stores located within the stations of Line 1 of the Lima Metro, whose fair value amounts to US$17.3 million equivalent to S/69.1 million as of December 31, 2021 (US$14.1 million, equivalent to S/51.3 million and, as of December 31, 2020 and US$18.7 million, equivalent to S/62.6 million and, as of December 31, 2019). These investment properties have been leased under an operating lease with third parties. Their carrying amount amounts to S/22.4 million (S/24.6 million and S/26.9 million at December 31, 2020 and 2019, respectively). b) In 2021, Cumbra Peru S.A. through its subsidiary Morelco S.A.S. transferred the net carrying amount of S/1.4 million from item “investment properties” to item “property, plant and equipment”, which were under lease until March 2021. (In August 2019, said premises located in Colombia were leased for which the net book value of S/1.5 million was transferred from the item “property, plant and equipment” to “investment properties”). However, in December 2021, the Management of AENZA S.A.A. decided to lease the property located at 4675 Paseo de la Republica Avenue in Surquillo, transferring from item “property, plant and equipment” to item “investment property” for the net carrying amount of S/42.6 million (Note 16.2-iii), whose fair value is US$18.6 million equivalent to S/74 million as of December 31, 2021. Depreciation of investment property is distributed in the income statement as follows: 2019 2020 2021 Cost of services and goods (Note 26. ii) 2,356 2,413 4,316 16.2. PROPERTY, PLANT AND EQUIPMENT The movement in property, plant and equipment accounts and its related accumulated depreciation for the year ended December 31, 2019, 2020 and 2021 is as follows: Furniture Replacement and Other and in-transit Work in Land Buildings Machinery Vehicles fixtures equipment units progress 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 ) Sale of assets, net - - (3,365 ) (4,299 ) (47 ) (72 ) (9 ) - (7,792 ) 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 Furniture Replacement and Other and in-transit Work in Land Buildings Machinery Vehicles fixtures equipment units progress 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 ) Sale of assets, net (ii) - (134 ) (753 ) (5,926 ) (28 ) (20 ) - - (6,861 ) Disposals, net (9,895 ) (2,014 ) (237 ) (94 ) (140 ) 6 - - (12,374 ) Impairment loss - (161 ) (5,069 ) (17 ) 33 - - - (5,214 ) Transfers - - - - - 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 Furniture Replacement and Other and in-transit Work in Land Buildings Machinery Vehicles fixtures equipment units progress Total At January 1, 2021 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 Net initial carrying amount 10,606 81,200 257,237 16,724 7,937 15,476 11,946 4,343 405,469 Additions (i) 85 131 15,786 519 661 5,175 2,572 13,262 38,191 Depreciation charge - (5,455 ) (49,753 ) (4,561 ) (1,335 ) (9,676 ) - - (70,780 ) Sale of assets, net (ii) - (10 ) (4,361 ) (1,143 ) (31 ) (139 ) - - (5,684 ) Disposals, net - (647 ) (610 ) (111 ) (127 ) (22 ) - - (1,517 ) Impairment loss - - (8,055 ) - - - (33 ) - (8,088 ) Transfers (iii) (10,692 ) (30,458 ) 120 14 - - - (218 ) (41,234 ) Deconsolidation, net (iv) - (3,418 ) - (14 ) (199 ) (4,304 ) - - (7,935 ) Reclassifications 10,198 (6,515 ) 13,444 918 (2 ) 484 (2,645 ) (15,882 ) - Translations adjustments (479 ) (655 ) (3,058 ) (528 ) (53 ) (479 ) - - (5,252 ) Net final carrying amount 9,718 34,173 220,750 11,818 6,851 6,515 11,840 1,505 303,170 At December 31, 2021 Cost 9,718 72,405 849,980 219,105 33,614 57,707 11,850 1,505 1,255,884 Accumulated depreciation and impairment - (38,232 ) (629,230 ) (207,287 ) (26,763 ) (51,192 ) (10 ) - (952,714 ) Net carrying amount 9,718 34,173 220,750 11,818 6,851 6,515 11,840 1,505 303,170 (i) In 2019, 2020 and 2021, additions correspond to acquisitions measured at cost under direct acquisition and, to a lesser extent, under financial leasing. (ii) A reversal of S/2.1 million is included in the gross margin and S/7.8 million in item “other income and expenses, net”. The income presented in item “other income and expenses, net” for S/9.6 million generates a gain of S/1.8 million (S/9.1 million of income in this item and a gain of S/2.6 million in 2020 and S/12.7 million of income in this item and a gain of S/6.1 million in 2019) (Note 28). (iii) Corresponds mainly to the building located in Surquillo that has been reclassified to Investment Properties due to management’s decision to rent the property located at 4675 Paseo de la República Avenue for a net book value of S/42.6 million. Additionally, Cumbra Peru S.A. through its subsidiary Morelco S.A.S. reclassified land and buildings from item “investment property” to item “property, plant and equipment”, which were under lease for S/1.4 million (In August 2019, said premises located in Colombia were leased for which the net book value of S/1.5 million was transferred from the item “property, plant and equipment” to the item “investment properties”), according to Note 16.1-b. (iv) The subsidiary Adexus S.A. is deconsolidated, in accordance with the purchase and sale agreement signed on December 27, 2021 (Note 36). Depreciation of property, plant and equipment and investment property is distributed in the income statement as follows: 2019 2020 2021 Cost of services and goods (Note 26.ii) 70,368 66,479 60,230 Administrative expenses (Note 26.ii) 1,670 5,432 4,610 Depreciation discontinued operations 8,528 6,649 5,940 80,566 78,560 70,780 As of December 31, 2021, the Corporation had fully depreciated assets in use of S/341.2 million (S/231.1 million in 2020 and S/135.2 million in 2019). The net carrying amount of machinery and equipment, vehicles and furniture and fixtures acquired under finance lease contracts is broken down as follows: 2019 2020 2021 Cost of acquisition 68,553 64,623 64,640 Accumulated depreciation (46,773 ) (52,165 ) (53,321 ) Net carrying amount 21,780 12,458 11,319 As of December 31, 2021 payments were made for amortization and interest on financial leases amounting to S/8.8 million (S/15.9 million in 2020 y S/15.7 million in 2019). 16.3. RIGHT-OF-USE ASSETS As of December 31, 2019, 2020 and 2021, the Corporation recognized assets and liabilities for right-of-use, as shown in the following table: Buildings Machinery Vehicles Total At January 1, 2019 Additions 80,279 18,597 20,830 119,706 Depreciation charge (13,568 ) (6,899 ) (8,929 ) (29,396 ) Translations adjustments 271 - - 271 Net final carrying amount 66,982 11,698 11,901 90,581 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 Net initial carrying amount - At January 1, 2020 66,982 11,698 11,901 90,581 Additions 6,681 876 4,518 12,075 Depreciation charge (13,211 ) (5,834 ) 1,514 (17,531 ) Disposals, net (10,463 ) - (11,078 ) (21,541 ) Translations adjustments 880 - 54 934 Net final carrying amount - At December 31, 2020 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 Net initial carrying amount - At January 1, 2021 50,869 6,740 6,909 64,518 Additions 8,260 317 5,354 13,931 Depreciation charge (12,589 ) (5,355 ) (5,755 ) (23,699 ) Deconsolidation, net (6,416 ) - (216 ) (6,632 ) Reclassifications - 1,356 (1,356 ) - Translations adjustments (352 ) - (49 ) (401 ) Net final carrying amount - At December 31, 2021 39,772 3,058 4,887 47,717 At December 31, 2021 Cost 61,596 19,671 17,124 98,391 Accumulated depreciation (21,824 ) (16,613 ) (12,237 ) (50,674 ) Net carrying amount 39,772 3,058 4,887 47,717 The expense for depreciation of right-of-use assets has been distributed in the following items of the consolidated statement of income: 2019 2020 2021 Cost of services and goods (Note 26.ii) 22,721 10,840 17,517 Administrative expenses (Note 26.ii) 237 961 815 Depreciation discontinued operations 6,438 5,730 5,367 29,396 17,531 23,699 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/252.4 million (S/351.7 million in 2020 and S/167.3 million in 2019). Leases of low value assets: S/44.4 million (S/5.1 million in 2020 and 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 2021 the expenditure was S/85.8 million (in 2020, S/48.7 million and S/0.6 million in 2019). For the years ended December 31, total depreciation is composed as follows: 2019 2020 2021 Depreciation of property, plant and equipment (Note 16.2) 80,566 78,560 70,780 Depreciation related to right-of-use assets (Note 16.3) 29,396 17,531 23,699 Depreciation related to investment property (Note 16.1) 2,356 2,413 4,316 112,318 98,504 98,795 |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of intangible assets [text block] [Abstract] | |
INTANGIBLE ASSETS | 17 INTANGIBLE ASSETS The movement in intangible assets and the related accumulated amortization as of December 31, 2019, 2020 and 2021 is as follows: Contractual Software and Costs of Land Trade- Concession relations development development use Other Goodwill marks rights with clients costs of wells rights assets 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 Contractual Software and Costs of Land Trade- Concession relations development development use Other Goodwill marks rights with clients costs of wells rights assets 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 F-90 Contractual Software and Costs of Land Trade- Concession relations development development use Other Goodwill marks rights with clients costs of wells rights assets Total At January 1, 2021 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 Net initial cost 58,946 78,421 371,797 523 16,595 195,001 10,820 59,887 791,990 Additions - - 6,185 - 10,312 45,518 - 5,726 67,741 Capitalization of interest expenses - - - - - - - 609 609 Derecognition - net - - (862 ) - (1,825 ) (2 ) - - (2,689 ) Amortization - - (54,304 ) - (7,269 ) (40,501 ) - (4,438 ) (106,512 ) Subsidiary deconsolidation - - - - (751 ) - - - (751 ) Translations adjustments (1,866 ) (4,984 ) - (26 ) (121 ) - - - (6,997 ) Net final cost 57,080 73,437 322,816 497 16,941 200,016 10,820 61,784 743,391 At December 31, 2021 Cost 93,600 76,578 694,809 74,155 45,239 328,907 13,288 126,980 1,453,556 Accumulated amortization and impairment (36,520 ) (3,141 ) (371,993 ) (73,658 ) (28,298 ) (128,891 ) (2,468 ) (65,196 ) (710,165 ) Net cost 57,080 73,437 322,816 497 16,941 200,016 10,820 61,784 743,391 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: 2019 2020 2021 Engineering and construction 36,632 38,211 36,345 Electromechanical 20,735 20,735 20,735 57,367 58,946 57,080 As a result of management’s annual impairment tests on goodwill, the recoverable number 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 and 2021, no impairment was identified. In 2019, an impairment was identified in Morelco S.A.S. for S/33 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”). The main assumptions used by the Corporation to determine fair value less disposal costs and value in use are as follows: Engineering and Electro- construction mechanical % % 2019 Gross margin 12.43 % 8.86 % Terminal growth rate 3.00 % 2.00 % Discount rate 11.83 % 11.40 % 2020 Gross margin 12.50 % 9.36 % Terminal growth rate 3.00 % 2.00 % Discount rate 11.06 % 11.77 % 2021 Gross margin 11.10 % 9.04 % Terminal growth rate 3.30 % - Discount rate 11.97 % 13.28 % 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 or post-tax, as applicable, and reflect the specific risks associated with the CGUs evaluated. b) Trademarks As of December 31, 2021, this item includes the brands acquired in the business combination processes with Vial y Vives S.A.C. for S/47.4 million (S/51 million as of December 31, 2020), Morelco S.A.S. for S/26.1 million (S/27.4 million as of December 31, 2020). Management determined that the brands from Vial y Vives and Morelco 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 and 2021, 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. 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 % % 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 % 2021 Average revenue growth rate 23.16 % 5.00 % Terminal growth rate 3.30 % 3.00 % Discount rate 11.97 % 17.60 % c) Concessions As of December 31, mainly include intangibles of Red Vial 5 S.A. and is made up of: 2020 2021 EPC Contract 54,506 46,719 Construction of the second tranch of the “Ancon-Huacho-Pativilca” highway 3,406 2,919 Road improvement 12,922 11,795 Implementation for road safety 9,034 10,179 Work capitalization of second roadway 280,326 240,279 Disbursements for land adquisition 4,510 4,883 Other intangible assets contracted for the delivery process 5,026 5,118 Total Red Vial 5 S.A. 369,730 321,892 Other concessions 2,067 924 371,797 322,816 In 2020, S/21.8 million of Concesionaria Via Expresa Sur S.A. were reclassified 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/49.2 million during 2021 (S/41 million in 2020 and S/108 million in 2019), which includes the capitalization of the provision for dismantling wells and instalations in Lots III and IV, which during 2021, an amount of S/7.8 million (in 2020 there was no significant movement at Lots I, III, IV and V). 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: 2019 2020 2021 Cost of sales and services (Note 26) 99,589 93,135 101,578 Administrative expenses (Note 26) 5,689 4,138 3,642 (+) Amortization discontinued operations 2,221 1,348 1,292 107,499 98,621 106,512 |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of borrowings [text block] [Abstract] | |
BORROWINGS | 18 BORROWINGS As of December 31, this item includes: Total Current Non-current 2020 2021 2020 2021 2020 2021 Bank loans (a) 571,659 343,679 409,272 217,935 162,387 125,744 Finance leases (b) 52,391 9,836 13,635 5,118 38,756 4,718 Lease liability for right-of-use asset (c) 72,726 60,507 19,950 14,541 52,776 45,966 Other financial entities (d) 201,544 165,878 10,027 3,746 191,517 162,132 898,320 579,900 452,884 241,340 445,436 338,560 a) Bank Loans As of December 31, 2020 and 2021, this item comprises bank loans in local and foreign currencies for working capital purposes. These obligations accrue fixed interest rates that fluctuate between 0.5% and 11.0% in 2020 and between 0.9% and 11.0% in 2021. Interest Date of Current Non-current rate maturity 2020 2021 2020 2021 Cumbra Peru S.A. (i-iv) 0.90% / 8.50% 2025 222,924 129,905 19,977 4,526 Unna Energia S.A.(ii) 6.04% / 7.68% 2027 24,950 23,351 99,474 120,635 Viva Negocio Inmobiliario S.A. (v) 7.00% / 11.00% 2023 90,197 64,679 3,318 583 AENZA S.A.A. (iii) 9.10% / 10.10% 2021 51,977 - 39,618 - Adexus S.A. (Note 36) 0.50% / 1.15% 2021 19,224 - - - 409,272 217,935 162,387 125,744 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.) signed a Financial Stability Framework Agreement with the following financial entities: Scotiabank Peru S.A.A., Banco Internacional del Peru S.A.A., Banco BBVA Peru S.A., Banco de Credito del Peru S.A., Citibank del Peru SA and Citibank N.A. The objectives of the Financial Stability Framework Agreement were: to guarantee Cumbra Peru S.A. a syndicated revolving line for working capital, a non-revolving line of credit to finance repayment commitments subject to performance bonds; guarantee lines of credit for the issuance of the performance bond and undertake to maintain the existing letters of credit issued at the request of Cumbra Peru S.A. On August 12, 2021, the lenders agreed to extend the maturity date of the Framework Agreement, the Financing Agreement and the Syndicated Letter of Guarantee Facility to July 31, 2022, which expires August 1, 2021. 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 pending payment. As of December 31, 2021, the account receivable rate and unbilled receivable rate reached 212% and 284%, respectively. As of December 31, 2020 due to the stoppage of activities generated by the COVID-19 pandemic, the account receivable rate and unbilled receivable rate reached 56% and 142%, respectively. The Company complied with the requirement of the Financial Stability Framework Agreement. In August 2021, US$20 million was paid, equivalent to S/81.3 million. As of December 31, 2021, the Company’s balance payable under the Financial Stability Framework Agreement amounts to US$7.4 million, equivalent to S/29.5 million (US$30.7 million, equivalent to S/111 million, as of December 31, 2020) ii) Unna Energia S.A. 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. In April and December 2021, an additional cash transfer of US$7.3 million (equivalent to US$28.2 million) and US$4.3 million (equivalent to US$16.9 million), respectively, was requested for the additional investments. As of December 31, 2021, TP has a total amount of financing of US$54.3 million (equivalent to S/217.4 million) and due in 2027 (US$46.4 million, equivalent to S/168.2 million, as of December 31, 2020). As of December 31, 2021, the amount of financing equivalent to the 50% interest held by the subsidiary Unna Energia S.A. amounts to US$27.2 million, equivalent to S/108.7 million (US$23.2 million, equivalent to S/84.1 million, as of December 31, 2020). 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, 2021, TP has a total amount of financing of US$18.4 million (equivalent to S/73.6 million) and due in 2026 (US$22 million, equivalent to S/80 million, as of December 31, 2020). As of December 31, 2021, the amount of financing equivalent to the 50% interest held by the subsidiary Unna Energia S.A. amounts to US$9.2 million, equivalent to S/36.8 million (US$11 million, equivalent to S/40 million, as of December 31, 2020). As of December 31, 2021 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 generates interest between 9.1% and 10.10%. The loan funds were used for working capital in the Company, Cumbra Peru S.A. and Adexus S.A. In August 2021, the loan was paid in full. (US$25.7 million, equivalent to S/93.2 million, as of December 31, 2020). iv) Banco Santander Peru S.A. Loan On December 28, 2020, Técnicas Reunidas enforced two letters of credit for a total amount of US$23.7 million, which had been issued by Santander on behalf of our subsidiary Cumbra Peru S.A. as security pursuant to a construction contract. As a result, Cumbra Peru S.A. subscribed a loan with Banco Santander for principal amount of US$23.7 million (equivalent to S/85.9 million). The loan accrues interest at an annual rate of Libor + 8% and due on September 30, 2022. In October and December 2021, the debt was paid for US$2.5 million and US$1 million, respectively. As of December 31, 2021, the principal amount of the loan is US$20.2 million, equivalent to S/80.8 million (US$23.7 million, equivalent to S/85.9 million, as of December 31, 2020). Pursuant to the Loan Agreement executed with Banco Santander Peru S.A., Cumbra Peru S.A. was obliged to amortize US$1.5 million on December 31, 2021. However, such agreement stipulates that to the extent other payment obligations have not been fulfilled (Amortization of Direct Debt to the banks of the Syndicated Line), AENZA S.A.A. could request to Banco Santander Peru S.A. the same payment waivers granted by these creditors (banks of the Syndicated Line). Therefore, on December 30, 2021, Cumbra Peru requested Banco Santander Peru S.A. a waiver with respect to the amortization date in the following main terms: (i) waiver of the US$1.5 million amortization on the Payment Date and (ii) schedule the amortization to February 15, 2022, to the extent that the amortization of the Syndicated Line Amortization is fulfilled on the same date. Banco Santander Peru S.A. approved a payment waiver with effective date December 31, 2021. As of December 31, 2021, Cumbra Peru S.A. is in compliance with the covenants under the Loan Agreement with Banco Santander Peru S.A. v) Viva Negocio Inmobiliario S.A. Loan The balance consists mainly of the financing of the following projects: - Los Parques de Comas: As of December 31, 2021, promissory notes for a total of S/9.7 million with Banco BBVA Peru S.A., with an interest rate between 7.85% and 8.89%, maturing between January 2022 and January 2023 (S/8.2 million, at December 31, 2020). - El Nuevo Rancho: As of December 31, 2021, a promissory note with the Banco Interamericano de Finanzas S.A. for S/18.4 million, with an interest rate of 7%, due in January 2022 (S/24.2 million, as of December 31, 2020). - Los Parques del Mar: As of December 31, 2021, promissory notes with the Banco de Credito del Peru S.A. for a total of S/35.7 million, with an interest rate of 7%, due in July 2022 (S/43.4 million, as of December 31, 2020). - Los Parques de Carabayllo: As of December 31, 2021, loan with Eldo Peru S.A.C. for US$0.35 million equivalent to S/1.4 million, with an interest rate of 11%, maturing in April 2022 (US$1 million equivalent to S/3.6 million, as of December 31, 2020). b) Financial Leases Interest Date of Current Non-current rate maturity 2020 2021 2020 2021 Viva Negocio Inmobiliario S.A. 7.79% / 9.04 2024 4,617 2,754 4,357 3,924 Cumbra Peru S.A. 4.80% / 7.67 2023 2,021 2,318 2,823 794 Unna Energia S.A. 6.28% 2022 149 46 19 - Adexus S.A. (Note 36) 0.23% / 0.51 2027 6,848 - 31,557 - 13,635 5,118 38,756 4,718 The minimum payments to be made according to their maturity and the present value of the leasing obligations are as follows: 2020 2021 Up to 1 year 16,287 5,624 From 1 to 5 years 35,770 4,909 Over 5 years 8,515 - 60,572 10,533 Future financial charges (8,181 ) (697 ) Present value of the obligations for finance lease contracts 52,391 9,836 The present value of the finance lease agreements obligations are as follows: 2020 2021 Up to 1 year 13,635 5,118 From 1 year to 5 years 30,635 4,718 Over 5 years 8,121 - 52,391 9,836 c) Lease liability for right-of-use asset Interest Date of Current Non-current rate maturity 2020 2021 2020 2021 AENZA S.A.A. 7.88% 2027 6,534 8,075 41,403 43,112 Unna Energía S.A. 7.10% 2024 6,765 2,831 2,926 1,058 UNNA Transporte S.A.C. 5.40% / 7.50 2024 2,047 2,782 1,925 1,721 Cumbra Peru S.A. 6.95% 2023 852 423 426 - Cumbra Ingenieria S.A. 6.95% / 7.40 2023 302 367 381 60 Tren Urbano de Lima S.A. 10.00% 2023 42 45 59 15 Adexus S.A. (Note 36) 0.25% / 0.50 2025 3,408 - 5,656 - Other minors 4.50% 2022 - 18 - - 19,950 14,541 52,776 45,966 The minimum payments to be made according to their maturity and the present value of the lease liability for right-of-use asset obligations are as follows: 2020 2021 Up to 1 year 24,714 18,817 From 1 to 5 years 51,853 46,288 Over 5 years 11,131 8,086 87,698 73,191 Future financial charges (14,972 ) (12,684 ) Present value of the lease liability for right-of-use asset obligations 72,726 60,507 The present value of the lease liability for right-of-use asset obligations are as follows: 2020 2021 Up to 1 year 19,950 14,541 From 1 year to 5 years 42,641 38,136 Over 5 years 10,135 7,830 72,726 60,507 d) Other financial entities The balance is mainly composed of the monetization of Red Vial 5 S.A. 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 Red Vial 5 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 Red Vial 5 S.A. by transferring its class B shares (equivalent to 48.8% of the capital of Red Vial 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 Red Vial 5’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 Red Vial 5’s projected traffic and determined that there was a material quantitative change that exceeds the +/-10%. For this reason, the liability with BCI Peru measured at amortized cost was derecognized during 2020 in the amount of US$46 million; the difference between this amount and the new liability amounted to US$3.9 million, which was recorded in other income and expenses (net) in the income statement. Simultaneously, the Company recorded the same liability amounting to US$42.1 million which is measured at fair value from the date of initial recognition. As of December 31, 2021, the loan balance payable amounted to US$41.5 million, equivalent to S/165.8 million (as of December 31, 2020, the balance was US$42.1 million, equivalent to S/152.5 million, in addition the balance was composed of loans payable from AENZA S.A.A. for S/11.3 million and Adexus S.A. for S/37.7 million) and includes the effect of the fair value of S/12.4 million (Note 27-d). Accrued interest amounted to S/10 million (In 2020, S/14.5 million) (Note 27-b). e) Fair value of debt As of December 31, the book value and fair value of financial liabilities are as follows: Carrying amount Fair value 2020 2021 2020 2021 Bank loans 571,659 343,679 589,737 372,270 Finance leases 52,391 9,836 54,343 9,097 Lease liability for right-of-use asset 72,726 60,507 88,779 66,943 Other financial entities 201,544 165,878 247,857 165,878 898,320 579,900 980,716 614,188 In 2021, fair values are based on discounted cash flows using debt rates between 3.9% and 10% (between 0.7% and 11% in 2020) and are within level 2 of the fair value hierarchy. |
Bonds
Bonds | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about borrowings [text block] [Abstract] | |
BONDS | 19 BONDS As of December 31, this item includes: Total Current Non-current 2020 2021 2020 2021 2020 2021 Tren Urbano de Lima S.A. (a) 624,454 626,697 21,081 24,496 603,373 602,201 Red Vial 5 S.A. (b) 280,848 251,933 32,819 36,637 248,029 215,296 AENZA S.A.A. (c) - 356,010 - 3,809 - 352,201 Cumbra Peru S.A. (d) 27,457 26,282 4,546 4,896 22,911 21,386 932,759 1,260,922 58,446 69,838 874,313 1,191,084 a) Tren Urbano de Lima S.A. 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, 2021, an accumulated amortization amounting to S/106.9 million (S/90.6 million as of December 31, 2020) has been made. As of December 31, 2021, the balance includes VAC adjustments and interest payable for S/121.1 million (S/103.4 million as of December 31, 2020). The account movement for the periods ended December 31, 2019, 2020 and 2021 is as follows: 2019 2020 2021 Balance at January, 1 611,660 618,497 624,454 Amortization (11,330 ) (11,582 ) (16,376 ) Accrued interest 48,253 47,615 49,013 Interest paid (30,086 ) (30,076 ) (30,394 ) Balance at December, 31 618,497 624,454 626,697 As of December 31, 2020 and 2021, Tren Urbano de Lima S.A. has complied with the corresponding covenants. As of December 31, 2021, the fair value amounts to S/626.8 million (S/710 million, as of December 31, 2020), this is based on discounted cash flows using the rate of 4.9% (3.6% as of December 31, 2020) and corresponds to level 3 of the fair value hierarchy. b) Red Vial 5 S.A. Between 2015 and 2016, the subsidiary Red Vial 5 S.A. issued Corporate Bond on the Lima Stock Exchange for a total S/365 million. Risk rating agencies Equilibrium y Apoyo & Asociados Internacionales graded this debt instrument AA. The capital raised was used to finance the construction of the second phase of Red Vial No.5 and the financing of VAT arising from a project-related expenses. The account movement for the periods ended December 31, 2019, 2020 and 2021 is as follows: 2019 2020 2021 Balance at January, 1 325,382 305,545 280,848 Amortization (20,005 ) (24,820 ) (28,836 ) Accrued interest 23,482 24,619 22,315 Capitalized interest 2,725 - - Interest paid (26,039 ) (24,496 ) (22,394 ) Balance at December, 31 305,545 280,848 251,933 As of December 31, 2020 and 2021, Red Vial 5 S.A. has complied with the covenants. As of December 31, 2021, the fair value amounts to S/260 million (S/304.7 million as of December 31, 2020), is based on discounted cash flows using rate 8.1% as of December 31, 2020 and 2021, and is within level 2 of the fair value hierarchy. c) AENZA S.A.A. On August 2021 13, AENZA S.A.A. issued bonds convertible (hereinafter, the “Bonds”) into common shares with voting rights. The total amount of the issue was US$89.9 million, issuing 89,970 bonds, each with a nominal value of US$ 1,000. The placement of these bonds was executed locally and is the result of the exercise of the preemptive subscription right provided by the applicable legislation, as well as their subsequent private offering. The Bonds have been made available to investors only in Peru pursuant to the provisions of the applicable Peruvian legislation. The bonds mature in February 2024, bear interest at a rate of 8%, and are payable quarterly. Pursuant to the terms and conditions of the convertible bond, they may be converted into shares as of the sixth month from the date of issuance, according to the following procedure: 1) the conversion day is the last business day of each month; 2) the conversion may be total or partial; 3) the conversion notice must be sent to the Bondholders’ Representative no later than 5 business days prior to the conversion date; and 4) the conversion price will be the minimum between (i) US$0. 33 (Zero and 33/100 Dollars) per Share, and (ii) 80% of the average price of the transactions occurring thirty (30) days prior to the Conversion Date, weighted by the volume of each transaction. The conversion will be made by dividing the current nominal value of each bond by the conversion price. As of December 31, 2021, the principal balance amounts to US$89.9 million equivalent to S/359.7 million. The debt balance net of costs incurred amounts to S/356 million. As of December 31, 2021, the fair value amounts to S/361.1 million, is based on discounted cash flows using rate 8.1% and is within level 3 of the fair value hierarchy. d) 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 2020, bonds issued amounts to US$7.8 million (equivalent to S/25.9 million) under the debt swap modality, related to its outstanding business obligations. 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-, granted by the rating company Moody’s Peru. As of December 31, 2021, the balance includes accrued interest payable for US$0.3 million, equivalent to S/1 million (US$0.6 million, equivalent to S/2.2 million, as of December 31, 2020). The account movement for the periods ended December 31, 2020 and 2021 is as follows: 2020 2021 Balance at January, 1 - 27,457 Additions 25,871 - Amortization (1,579 ) (3,687 ) Exchange difference 2,153 2,561 Accrued interest 2,152 2,219 Interest paid (1,140 ) (2,268 ) Balance at December, 31 27,457 26,282 As of December 31, 2021, the fair value amounts to S/27.1 million (S/28.6 million as of December 31, 2020), is based on discounted cash flows using a rate of 7.4% (7.1% as of December 31, 2020) and is within level 3 of the fair value hierarchy. |
Trade Accounts Payable
Trade Accounts Payable | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Trade Accounts Payables Explanatory [Abstract] | |
TRADE ACCOUNTS PAYABLE | 20 TRADE ACCOUNTS PAYABLE As of December 31, this item includes: Total Current Non-current 2020 2021 2020 2021 2020 2021 Invoices payable (a) 454,174 506,798 454,174 506,798 - - Provision of contract costs (b) 642,492 468,360 601,990 468,360 40,502 - Notes payable 8,252 5,609 8,252 5,609 - - 1,104,918 980,767 1,064,416 980,767 40,502 - (a) Invoices payable are obligations accredited with formal documents. The following are the invoices payable according to main projects: 2020 2021 Infrastructure Linea 1 - Metro de Lima 18,992 15,616 Operation and maintenance - Roads 20,194 17,372 39,186 32,988 Energy 33,085 43,501 Engineering and Construction Cumbra Peru S.A. - Talara Refinery 96,051 109,930 Vial y Vives - DSD S.A. - Engineering and Construction Works 70,987 73,188 Cumbra Peru S.A. - Concentrator Plant and tunnel of Quellaveco 55,107 71,324 Cumbra Peru S.A. - Jorge Chavez Airport 1,397 55,596 Morelco S.A.S. - Engineering and Construction Works 17,616 22,629 Cumbra Peru S.A. - Gasoducto Piura Project 172 11,167 Cumbra Peru S.A. - Generating Plant Machu Picchu 3,488 3,832 Cumbra Ingenieria S.A. - Project Mina Gold Fields La Cima S.A. 10,353 3,810 Cumbra Peru S.A. - Desilting of the Chicama River 4,257 2,974 Cumbra Peru S.A. - Cerro del Águila Hydroelectric Power Plant 822 2,199 Cumbra Peru S.A. - Civil Works, Assembly and Electromechanics - Acero Arequipa 2,428 28 Cumbra Ingenieria S.A. - Mina Justa Project 14,190 14 Others 38,907 40,955 315,775 397,646 Real Estate 18,056 9,769 Parent Company Operation 48,072 22,894 454,174 506,798 b) Provisions for contract costs correspond to the measurement by the degree of progress of the projects. Below are the balances of the main projects: 2020 2021 Infrastructure Linea 1 - Metro de Lima 13,645 15,021 Operation and maintenance - Roads 31,027 27,303 44,672 42,324 Energy 18,140 24,185 Engineering and Construction Cumbra Peru S.A. - Concentrator Plant and tunnel of Quellaveco 42,822 86,562 Vial y Vives - DSD S.A. - Engineering and Construction Works 106,186 74,912 Cumbra Peru S.A. - Talara Refinery 204,102 54,513 Cumbra Peru S.A. - Gasoducto Piura Project 599 43,401 Morelco S.A.S. - Engineering and Construction Works 84,513 25,434 Cumbra Peru S.A. - Jorge Chavez Airport 1,083 25,093 Cumbra Ingenieria S.A. - Project Mina Gold Fields La Cima S.A. 12,670 9,135 Cumbra Peru S.A. - Project Via Expresa Linea Amarilla 5,359 6,545 Cumbra Peru S.A. - Generating Plant Machu Picchu 1,222 2,348 Cumbra Peru S.A. - Civil Works, Assembly and Electromechanics - Acero Arequipa 5,222 1,556 Cumbra Ingenieria S.A. - Improvement and expansion - INEN 2,036 1,465 Cumbra Peru S.A. - Works and Consortiums 1,951 804 Cumbra Ingenieria S.A. - Mina Justa Project 33,525 98 Others 6,847 33,354 508,137 365,220 Real estate 24,509 20,632 Parent Company Operation 47,034 15,999 642,492 468,360 |
Other Accounts Payable
Other Accounts Payable | 12 Months Ended |
Dec. 31, 2021 | |
Other Accounts Payable [Abstract] | |
OTHER ACCOUNTS PAYABLE | 21 OTHER ACCOUNTS PAYABLE As of December 31, this item includes: Total Current Non-current 2020 2021 2020 2021 2020 2021 Advances received from customers (a) 280,970 322,680 249,870 315,644 31,100 7,036 Consorcio Ductos del Sur - payable (b) 88,206 77,665 28,836 29,242 59,370 48,423 Salaries and other payable 77,386 126,466 77,386 126,466 - - Put option liability on Morelco acquisition (c) 118,622 27,986 79,096 27,986 39,526 - Third-party loans 11,608 2,076 9,533 - 2,075 2,076 Other taxes payable 115,862 124,497 102,240 112,737 13,622 11,760 Acquisition of additional non-controlling interest (Note 35) 27,596 25,253 27,596 25,253 - - Guarantee deposits 23,744 26,017 23,744 26,017 - - Consorcio Rio Mantaro - payables 75,059 58,502 75,059 58,502 - - Provision of interest for debt with suppliers 16,425 3,056 - 285 16,425 2,771 Share purchase agreement - Inversiones Sur 14,496 15,992 - - 14,496 15,992 Other accounts payables 39,974 37,160 33,356 32,849 6,618 4,311 889,948 847,350 706,716 754,981 183,232 92,369 (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 2020 2021 2020 2021 2020 2021 Customer advances from Consortiums 55,020 27,568 55,020 27,568 - - Customer advances for real estate projects 78,286 80,188 78,286 80,188 - - Cumbra Peru S.A. - Concentrator Plant and tunnel of Quellaveco 86,415 10,841 71,571 10,841 14,844 - Special National Transportation Infrastructure Project 24,050 19,582 13,781 12,765 10,269 6,817 Vial y Vives - DSD S.A. - Quebrada Blanca Project - 120,642 - 120,642 - - Vial y Vives - DSD S.A. - Modernization and expansion of Arauco - 52,063 - 52,063 - - Cumbra Peru S.A. - Piura Pipeline Project 31,048 5,745 25,292 5,745 5,756 - Others 6,151 6,051 5,920 5,832 231 219 280,970 322,680 249,870 315,644 31,100 7,036 (b) The balance of other accounts payable from Consorcio Constructor Ductos del Sur corresponds to payment obligations to vendors and main subcontractors for S/77.6 million (S/88.2 million as of December 31, 2020), assumed by the subsidiary Cumbra Peru S.A. as a result of the termination of Gasoducto Sur Peruano S.A. operations. (c) On December 23, 2014, the Company acquired through the subsidiary Cumbra Peru S.A. control of Morelco S.A.S. (Morelco), with the purchase of 70.00% of its shares representative of the capital stock. Morelco, an entity domiciled in Colombia, also entered into a put and call option agreement in connection with the common shares retained by the non-controlling interest that grants the sellers the right to sell their retained shares to Cumbra Peru S.A. (put option). The signed put option agreement represented an obligation to purchase shares of the non-controlling interest and, therefore, the Corporation recognized a “financial liability” at fair value with a corresponding reduction in shareholders’ equity decreasing other reserves. Taking into account the Company’s current financial situation, during 2021, management renegotiated the critical terms of the Shareholders’ Agreements (put option agreement), mainly regarding the exercise price. Such renegotiation ended with the signing of a new acquisition agreement for an amount of US$15.4 million, disregarding the original put option agreement of up to US$32.7 million. In consequence, this new agreement is considered by management as a modification of the original financial liability recorded at the acquisition date under IFRS 9. Consequently, the Company recorded “Other income - results from valuation of financial instruments” for an amount of US$17.3 million (S/70.3 million) in the statement of income in 2021 (Note 28-a). The fair value of short-term accounts approximates their book value due to their short-term maturities. The non-current part mainly includes non-financial liabilities such as advances received from customers; the remaining balance is not significant in the financial statements for the periods shown. |
Other Provisions
Other Provisions | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of other provisions [Abstract] | |
OTHER PROVISIONS | 22 OTHER PROVISIONS As of December 31, this item includes: Total Current Non-current 2020 2021 2020 2021 2020 2021 Legal claims (a) 326,868 364,385 78,627 117,520 248,241 246,865 Tax claims 8,176 37,466 3,293 16,776 4,883 20,690 Provision for well closure (b) 52,949 82,475 10,837 20,533 42,112 61,942 387,993 484,326 92,757 154,829 295,236 329,497 a) Additions for legal claims correspond to: Civil compensation to Peruvian Government Corresponds to the legal contingency estimated by management for exposure of the Company and two of 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 Construcción”. As indicated in Note 1-d) through the Agreement signed on May 21, 2021, the entry into force of which is subject to judicial approval, the Company acknowledges that it was used by some of its former directors for the commission of illegal acts up to in 2016 and agrees, consequently, to pay a civil compensation to the State for a total amount of S/321.9 million and US$41.1 million. As of December 31, 2021, the amount equivalent to the present value resulting from the amounts descrived above is recorded as one provision total S/164.6 million and US$18.9 million, equivalent to a total S/240.1 million. Administrative process INDECOPI i) On March 9, 2021, Cumbra Peru S.A. was notified with an “Informe Final de Instrucción” prepared by INDECOPI’s Technical Secretary, in relation with the administrative sanction process against 33 construction companies and other 26 of their executives for allegedly arranging a coordination system through with they illegaly distributed several contract tenders conducted by Provias Nacional and other govenmental entities. Such report was subject to approval by INDECOPI’s “Comision de Defensa de la Libre Competencia”, which on November 15, 2021, through Resolution N°080-021-CLC-INDECOPI, ruled in favor to sanction the companies and their executives, included Cumbra Peru S.A. On December 9, 2021, Cumbra Peru filed an appeal against such ruling, suspending its application. As of December 31, 2021, the Company and its legal advisors estimated a provision of S/52.6 million (S/24.5 million as of December 31, 2020). ii) On February 7, 2022, Cumbra Peru S.A. and Unna Transporte S.A.C. were notified by the National Directorate for the Investigation and Promotion of Free Competition under File 003-2020/CLC-IP, issuing Resolution 038-2021/DLC-INDECOPI of December 28, 2021, through which an administrative procedure is initiated penalty for the alleged execution of a horizontal collusive practice in the form of concerted distribution of suppliers in the contracting market for workers in the construction sector at the national level, during the period between the years 2011 to 2017. As of December 31, 2021, the Company and its legal advisors estimate a provision amounting to S/4.8 million. Shareholder class action lawsuits in the Eastern District Court of New York 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 July 2, 2020, the Company signed the settlement agreement with the plaintiffs’ attorneys, by which the parties agree to terminate the class action, subject to the court approval and the payment of the transaction amount by the Company. The amount agreed for the termination of the class action is equivalent to US$20 million. The Company registered a provision of US$15 million (equivalent of S/49.8 million), the difference of US$5 million was covered by the professional liability insurance policy in accordance with the agreement signed with the insurance company. In september 2020 , the Company paid US$0.3 million (equivalent to S/1.1 million). On June 30, 2021, a first amendment to the agreement was signed, which stipulates a payment of US$0.6 million (equivalent to S/2.2 million), amortization of the oustanding balance on September 30, 2021, and annual interest of 8%. On September 14, 2021, the settlement agreement was approved by the Eastern District Court of New York. On October 1, 2021, the second amendment to the agreement was signed, whereby US$5.5 million (equivalent to S/22.7 million) was paid plus accrued interest of US$0.9 million (equivalent to S/3.6 million), established as a new expiration date June 30, 2022, plus accrued interest at an interest rate of 9% per year was set. As of December 31, 2021, the Company maintains a provision of US$8.6 million, equivalent to S/34.4 million, plus interest (as of December 31, 2020, US$14.7 million, equivalent to S/53.1 million, plus interest). As of the date of this report, all amounts under the settlement agreement related to the class action civil lawsuit have been paid in full, and the parties have jointly requested the court to reinstate the final judgment terminating the case. Other legal provisions As of December 31, 2021, corresponds to civil, labor, administrative and contentious administrative contingencies estimated at S/34.2 million (S/32.1 million as of December 31, 2020). b) Provision for closure corresponds mainly to: i) Provisions for closure of wells of Unna Energia S.A. for S/71.1 million and contractual compliance with Petroperu for S/3.4 million (as of December 31, 2020, S/48.4 million and S/3.2 million, respectively); ii) In Red Vial 5 S.A. provision for costs associated with the closing of the concession contract and the process of claiming the tariff guarantee for toll suspension for S/5.1 million (as of December 31, 2020, S/4.5 million); and iii) Provisions for net liabilities assumed from the partner in the Consorcio Chicama Ascope and other minor liabilities for S/2.8 million in Cumbra Peru S.A. The account movement for the periods ended December 31, 2020 and 2021 are as follows: Contingent liabilities resulting Provision Legal Tax from for well claims claims acquisitions closure Total At January 1, 2019 81,052 3,676 4,498 20,382 109,608 Additions 190,610 7,111 - 30,998 228,719 Reversals of provisions (3,122 ) - (4,349 ) - (7,471 ) Compensation (i) (45,940 ) - - - (45,940 ) Payments (914 ) - - (1,264 ) (2,178 ) Translation adjustments / Exchange difference (94 ) - (149 ) - (243 ) At December 31, 2019 221,592 10,787 - 50,116 282,495 At January 1, 2020 221,592 10,787 - 50,116 282,495 Additions 121,404 3,161 - 2,450 127,015 Present value 3,604 - - 2,182 5,786 Reversals of provisions (30,806 ) (2,458 ) - - (33,264 ) Transfers 1,540 - - - 1,540 Compensation (i) 4,106 - - - 4,106 Payments (3,938 ) (3,314 ) - (1,799 ) (9,051 ) Translation adjustments / Exchange difference 9,366 - - - 9,366 At December 31, 2020 326,868 8,176 - 52,949 387,993 At January 1, 2021 326,868 8,176 - 52,949 387,993 Additions 59,109 30,505 - 10,815 100,429 Present value 19,627 - - 9,780 29,407 Reversals of provisions (13,027 ) - - (2,957 ) (15,984 ) Transfers 466 (299 ) - 716 883 Reclasification (3,335 ) - - 3,335 - Compensation (i) (8,541 ) - - - (8,541 ) Desconsolidation of subsidiary (1,657 ) - - - (1,657 ) Payments (26,863 ) (916 ) - (185 ) (27,964 ) Translation adjustments / Exchange difference 11,738 - - 8,022 19,760 At December 31, 2021 364,385 37,466 - 82,475 484,326 (i) Corresponds to the presentation of the net position against the trade accounts receivable of the Talara Refinery Project that is in arbitration proceedings with the customer Tenicas Reunidas S.A.C of the subsidiary Cumbra Peru S.A. (Note 2.32-i). |
Equity
Equity | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of share capital, reserves and other equity interest [text block] [Abstract] | |
EQUITY | 23 EQUITY a) Capital As of December 31, 2021 and 2020, the capital of the Company is represented by 871,917,855 shares of a nominal value of S/1.00 each, all registered in the Public Registries. As of December 31, 2021, a total of 136,637,740 shares were represented in ADS, equivalent to 27,327,548 ADSs at a rate of 5 shares per ADS. As of December 31, 2020, a total of 190,863,050 shares were represented by ADS, equivalent to 38,172,610 ADSs at a rate of 5 shares per ADS. As of December 31, 2021, the Company’s shareholding structure is as follows: Total Percentage of individual Number of percentage of interest in outstanding capital shareholders interest Up to 1.00 1,561 7.32 % From 1.01 to 5.00 12 25.42 % From 5.01 to 10.00 5 39.29 % Over 10 2 27.97 % 1,580 100.00 % As of December 31, 2021, the Company’s shares registered a stock price at the end of the year of S/1.37 per share and a trading frequency of 77.27% (S/1.72 per share and a trading frequency of 95.65% at 31 December 2020). 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 capital. In the absence of profits or unrestricted reserves, the legal reserve must be applied to the compensation of losses and must be replenished with the profits of subsequent years. This reserve may be capitalized; and its replacement is also mandatory. c) Voluntary reserve As of December 31, 2020, and 2021, 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 capital. 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. In addition, this account recognizes the difference between the nominal value and the transaction value for acquisitions of shares in non-controlling interests. 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 2020 and 2021 were not distributed (Note 33). |
Deferred Income Tax
Deferred Income Tax | 12 Months Ended |
Dec. 31, 2021 | |
Description of accounting policy for deferred income tax [text block] [Abstract] | |
DEFERRED INCOME TAX | 24 DEFERRED INCOME TAX As of December 31, deferred income tax is classified by its estimated reversal term as follows: 2020 2021 Deferred income tax asset: Reversal expected in the following twelve months 44,780 44,037 Reversal expected after twelve months 217,385 231,039 Total deferred tax asset 262,165 275,076 Deferred income tax liability: Reversal expected in the following twelve months (1,261 ) 1,424 Reversal expected after twelve months (101,646 ) (98,791 ) Total deferred tax liability (102,907 ) (97,367 ) Deferred income tax asset, net 159,258 177,709 The gross movement of the deferred income tax item is as follows: 2019 2020 2021 Opening balance 365,263 158,985 159,258 Debit (credit) to income statement (Note 29) (206,894 ) (9,652 ) 64,021 Discontinued operations 14,469 9,886 (40,686 ) Other movements (13,853 ) 39 (4,884 ) Final balance 158,985 159,258 177,709 The movement in deferred tax assets and liabilities in the year, without considering the offsetting of balances, is as follows: Difference in Work Borrowing Deferred income depreciation Deferred in Tax costs tax liabilities rates income process receivable capitalized PPA Others Total At January 1, 2019 81,553 13,574 5,456 32,878 15,716 (1,562 ) 20,745 168,360 (Debit) credit to P&L 10,109 11,126 33,403 3,312 (780 ) 11,385 18,821 87,376 Discontinued operations (172 ) (555 ) - - - - - (727 ) 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 (1,831 ) (8,239 ) (16,740 ) 2,836 172 357 (18,381 ) (41,826 ) Discontinued operations (2,734 ) - - - - - (510 ) (3,244 ) 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 (Debit) credit to P&L (10,668 ) (15,906 ) 30,439 3,028 (2,780 ) 12,476 (21,417 ) (4,828 ) Sale of a subsidiary (3,836 ) - - - - - (883 ) (4,719 ) At December 31, 2021 73,484 - 47,642 42,054 12,328 21,393 1,096 197,997 Deferred income tax assets Provisions Accelerated tax depreciation Tax losses Work Accrual for Impairment IFRS 9 Tax Goodwill Earning Unpaid Non domicilied expenses IFRS Others Total At January 1, 2019 42,572 921 178,289 34,005 9,782 253,767 - 18,048 - - - (3,761 ) 533,623 Debit (credit) to P&L 938 7,512 3,024 11,715 1,842 (205,265 ) 46,804 (4,526 ) - - - 18,438 (119,518 ) Debit (credit) to equity - - - - - - - - - - - (3 ) (3 ) Discontinued operations (134 ) - 11,319 - - - - - - - - 2,557 13,742 IFRIC 23 adoption - - (986 ) - - - - - - - - - (986 ) Others - - - - - - - - - - - (12,864 ) (12,864 ) At December 31, 2019 43,376 8,433 191,646 45,720 11,624 48,502 46,804 13,522 - - - 4,367 413,994 At January 1, 2020 43,376 8,433 191,646 45,720 11,624 48,502 46,804 13,522 - - - 4,367 413,994 Debit (credit) to P&L (36,338 ) 2,041 (8,767 ) (12,298 ) 1,301 3,257 (10,874 ) (4,518 ) - - - 14,718 (51,478 ) Discontinued operations (1,792 ) (1,667 ) - - 115 - - - - - - 9,986 6,642 Reclassification 24,340 (1,154 ) 3,616 (28,630 ) - (507 ) 10,067 4,989 - - - (15,116 ) (2,395 ) Others - - - - - - - - - - - 39 39 At December 31, 2020 29,586 7,653 186,495 4,792 13,040 51,252 45,997 13,993 - - - 13,994 366,802 Debit (credit) to P&L 13,673 8,640 36,258 (4,792 ) 7,288 (21,834 ) 5,596 (2,407 ) 8,372 4,064 4,571 (236 ) 59,193 Sale of a subsidiary (2,413 ) - (40,312 ) - (887 ) - - - - - - (1,793 ) (45,405 ) Others - - - - - - - - - - - (4,884 ) (4,884 ) At December 31, 2021 40,846 16,293 182,441 - 19,441 29,418 51,593 11,586 8,372 4,064 4,571 7,081 375,706 As of December 31, 2021, the total tax loss amounts to S/639 million and is composed as follows: Tax loss aplication Application Statute of Tax loss method 2022 2023 Forward limitations Cumbra Peru S.A. 342,268 B 14,000 14,771 313,497 - Vial y Vives - DSD S.A. 225,094 NA 129,222 - 95,872 - AENZA S.A.A. 32,092 A 32,092 - - 2025 Transportadora de Gas Natural 15,989 B 82 952 14,955 - GyM Chile S.p.A. 14,705 NA - - 14,705 - Carretera Andina del Sur S.A.C. 3,704 B 3,704 - - - Consorcio Vial del Sur 3,508 A 3,508 - - 2025 Incolur DSD 1,537 NA - - 1,537 - Cumbra Ingeniería S.A. 2 A 2 - - 2025 638,899 182,610 15,723 440,566 According to Peruvian legislation, there are two ways to compensate for tax losses: 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 2021. 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. |
Workers' Profit Sharing
Workers' Profit Sharing | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Workers Profit Sharing Explanatory [Abstract] | |
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: 2019 2020 2021 Cost of sales of goods and services 4,661 2,147 7,650 Administrative expenses 1,679 23 1,238 6,340 2,170 8,888 |
Costs and ExpensesBy Nature
Costs and ExpensesBy Nature | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of expenses by nature [text block] [Abstract] | |
Costs and 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 and Administrative services expenses Total 2019 Salaries, wages and fringe benefits (i) 951,455 117,426 1,068,881 Services provided by third-parties 1,447,294 58,728 1,506,022 Purchase of goods 855,743 - 855,743 Other management charges 174,678 27,708 202,386 Depreciation (ii) 95,445 1,907 97,352 Amortization (Note 17) 99,589 5,689 105,278 Impairment of accounts receivable (iii) 8,183 - 8,183 Taxes 6,941 2,450 9,391 Impairment of property, plant and equipment 3,907 - 3,907 Impairment of investments 255 - 255 Inventory recovery (249 ) - (249 ) 3,643,241 213,908 3,857,149 Cost of goods and Administrative services expenses Total 2020 Salaries, wages and fringe benefits (i) 946,631 75,677 1,022,308 Services provided by third-parties 949,545 33,411 982,956 Purchase of goods 565,052 - 565,052 Other management charges 158,929 14,322 173,251 Depreciation (ii) 79,732 6,393 86,125 Amortization (Note 17) 93,135 4,138 97,273 Impairment of accounts receivable (iii) 32,215 4 32,219 Taxes 5,956 68 6,024 Recovery of property, plant and equipment 4,950 - 4,950 Impairment of investments 38 - 38 Inventory recovery (30 ) - (30 ) 2,836,153 134,013 2,970,166 Cost of goods and Administrative services expenses Total 2021 Salaries, wages and fringe benefits (i) 1,297,352 97,682 1,395,034 Services provided by third-parties 1,118,929 56,462 1,175,391 Purchase of goods 705,000 43 705,043 Other management charges 222,648 16,203 238,851 Depreciation (ii) 82,063 5,425 87,488 Amortization (Note 17) 101,578 3,642 105,220 Impairment of accounts receivable (iii) 9,420 2 9,422 Taxes 5,691 154 5,845 Impairment of property, plant and equipment 5,679 - 5,679 Impairment of inventory 2,984 - 2,984 3,551,344 179,613 3,730,957 (i) For the years ended on December 31, salaries, wages and fringe benefits comprise the following: 2019 2020 2021 Salaries 786,346 756,873 1,068,013 Statutory gratification 88,369 85,010 96,612 Social contributions 61,533 57,225 75,395 Employee’s severance indemnities 49,944 55,523 66,827 Vacations 39,298 39,499 49,409 Workers’ profit sharing (Note 25) 6,340 2,170 8,888 Others 37,051 26,008 29,890 1,068,881 1,022,308 1,395,034 (ii) For the years ended on December 31, the depreciation comprises the following: Cost of goods and Administrative services expenses Total 2019 Property, plant and equipment (Note 16.2) 70,368 1,670 72,038 Right-of-use assets (Note 16.3) 22,721 237 22,958 Investment property (Note 16.1) 2,356 - 2,356 95,445 1,907 97,352 2020 Property, plant and equipment (Note 16.2) 66,479 5,432 71,911 Right-of-use assets (Note 16.3) 10,840 961 11,801 Investment property (Note 16.1) 2,413 - 2,413 79,732 6,393 86,125 2021 Property, plant and equipment (Note 16.2) 60,230 4,610 64,840 Right-of-use assets (Note 16.3) 17,517 815 18,332 Investment property (Note 16.1) 4,316 - 4,316 82,063 5,425 87,488 (iii) For the years ended December 31, the impairment of accounts receivable includes the following: 2019 2020 2021 Trade accounts receivables (Note 10) 955 19,772 1,061 Other accounts receivable (Note 13.i) 5,704 12,318 1,177 Accounts receivable from related parties 1,524 129 7,184 8,183 32,219 9,422 |
Financial Income and Expenses
Financial Income and Expenses | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of finance income (cost) [text block] [Abstract] | |
FINANCIAL INCOME AND EXPENSES | 27 FINANCIAL INCOME AND EXPENSES For the years ended on December 31, these items include the following: 2019 2020 2021 Financial income: Profit for present value of financial asset or financial liability 30,408 32,734 3,127 Interest on short-term bank deposits 4,056 2,353 959 Interest on loans to third parties 789 863 442 Interest on mutual funds 116 537 287 Commissions and collaterals 535 601 55 Sale of CPAO financial asset to Mizuho Bank Ltd. (a) 35,971 - - Others 2,781 2,228 903 74,656 39,316 5,773 Financial expenses: Interest expense on: - Bank loans (b) 78,293 63,435 56,534 - Bonds 26,113 26,771 36,830 - Loans from third parties 14,162 12,612 12,642 - Right-of-use 5,472 4,259 3,982 - Financial lease 2,042 1,187 862 Commissions and collaterals 25,492 28,083 24,263 Interests from Tax Administration 6,222 4,827 14,236 Loss for present value of financial asset or 41,131 4,552 53,757 Update of fair value of financial liability (d) - - 12,402 Exchange difference loss, net 32,570 3,766 47,211 Derivative financial instruments 92 64 - Other financial expenses 7,349 1,686 1,099 Less capitalized interest (7,229 ) (4,887 ) (1,244 ) 231,709 146,355 262,574 (a) In 2019 the income corresponds to the proceeds from the sale of CPAO’s to Mizuho Bank Ltd. (Note 28 b) (b) In 2021, the variation in interest corresponds mainly to Inversiones en Autopistas S.A. which decreased by S/4.5 million due to the loan with BCI Peru (Nota 18-d) and AENZA S.A.A, which decreased by S/4.8 million due to the cancellation of the debt with CS Peru Infrastructure Holdings LLC (Note 18 a-iii); on the other hand, Cumbra Peru increased by S/5 million for various promissory notes. (c) In 2021, the increase is mainly generated by the effect of the present value of the account receivable from Gasoducto Sur Peruano S.A. for S/32.6 million (Note 12), due to the variation of the discount rate applied, which increased from 1.65% to 2.73%. Additionally, increase by the effect of the present value of the account payable according to the Acta de Acuerdo Preparatorio de Colaboración y Beneficios – “The Agreement” for S/17 million (Note 1-d). (d) In 2021, the increase corresponds entirely to Inversiones en Autopistas S.A. for the recognition of the fair value of the loan with BCI Peru (Note 18-d). |
Other Income and Expenses, Net
Other Income and Expenses, Net | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of other operating income (expense) [text block] [Abstract] | |
OTHER INCOME AND EXPENSES, NET | 28 OTHER INCOME AND EXPENSES, NET For the years ended December 31, these items include the following: 2019 2020 2021 Other income: Change in contract of the call option (a) - - 70,322 Sale of assets 12,748 9,118 9,618 Recovery of provisions and impairments 23,279 6,501 6,070 Insurance compensation - 156 3,728 Penalty income 984 1,168 1,883 Supplier debt forgiveness 19,026 14,545 - Profit from Mizuho Bank Ltd. agreement (b) 89,688 - - Trademarks revaluation 20,676 - - Others 13,384 4,072 5,593 179,785 35,560 97,214 Other expenditures: Asset impairment (c) 329,670 103,074 20,285 Civil repair to the Peruvian Government 69,150 64,571 86 Legal and tax litigation (d) 49,754 32,186 59,184 Net cost of fixed assets disposal 6,667 6,478 7,794 Provision for well closure 4,055 112 7,211 Disposal of property, plant and equipment 14,394 501 3,764 Present value of the call option 4,697 2,326 - Administrative fine 1,423 2,056 2,068 Renegotiation of contract with suppliers - 4,889 176 Others 26,729 549 1,123 506,539 216,742 101,691 (326,754 ) (181,182 ) (4,477 ) a) In 2021, the subsidiary Cumbra Peru S.A. renegotiated the payment for the purchase of shares from the minority of the subsidiary Morelco S.A.S., such renegotiation ended with the signing of a new acquisition agreement for an amount of US$15.4 million, disregarding the original put option agreement. Consequently, the Company recorded “other income - results from valuation of financial instruments” for an amount of S/70.3 million in the statement of income in 2021 (Note 21-c). b) 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. c) In 2021, corresponds mainly to the impairment of other accounts receivable of S/19.9 million, as a consequence of the financial obligation assumed by AENZA S.A.A. in favor of Adexus S.A.(Note 13-i). In 2020, corresponds to: i) impairment of other accounts receivable generated by the subsidiary Concesionaria Vía Expresa Sur S.A. for S/55.8 million, as a consequence of the new estimates of the Company on the recovery of the investment it maintains in the project; ii) impairment of other accounts receivable of CAM Holding S.p.A. for S/12.5 million for claims accepted against the guarantee account; iii) impairment of trade receivables generated by the subsidiary Unna Transporte S.A.C. for S/33.7 million to the Regional Government of Cusco iv) other minor for S/0.5 million of other receivables and S/0.5 million of trade receivables. In 2019, corresponds to a 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 d) In 2021, corresponds mainly to the penalty imposed by the Technical Secretariat of INDECOPI to the subsidiary Cumbra Peru S.A. for S/28.1 million and to the subsidiary Unna Transporte S.A.C. for S/2.4 million (Note 22-a), additionally, tax penalties for income tax in AENZA S.A.A. for S/18.2 million, Cumbra Peru S.A. for S/9.5 million and Cumbra Ingenieria S.A. for S/0.9 million. In 2020, exposure of the fine by the Technical Secretariat of INDECOPI of the subsidiary Cumbra Peru for S/24.5 million (Note 22-a) and other minor proceedings for S/7.7 million. In 2019, corresponds to the Class Action civil lawsuit in AENZA S.A.A for S/49.7 million. |
Tax Situation
Tax Situation | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of income tax [text block] [Abstract] | |
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 are subject to the 20% withholding tax rate. Payments for financial returns to non-residents are subject to the 15% withholding tax rate. Payments to the parent company for management fee, are subject to the 33% withholding tax rate. 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: 2019 2020 2021 Current income tax 113,062 52,556 107,721 Deferred income tax (Note 24) 206,894 9,652 (64,021 ) Income tax expense 319,956 62,208 43,700 d) The Corporation’s income tax differs from the theoretical amount that would have resulted from applying the weighted-average income tax rate applicable to the profit reported by of the consolidated companies, as follows: 2019 2020 2021 Loss before income tax (474,726 ) (111,212 ) (46,614 ) Income tax by applying local applicable tax rates on profit generated in the respective countries (141,370 ) (34,133 ) (13,182 ) Tax effect on: - Non-deductible expenses 84,832 47,761 33,489 - Provision of tax contingencies 7,079 (3,421 ) 14,240 - Change in prior years estimations 36,529 2,213 8,492 - Unrecognized deferred income tax asset 82,424 24,930 1,459 - Equity method (profit) loss (64 ) (227 ) 254 - Non-taxable income (1,195 ) (22 ) (57 ) - Reversal of deferred income tax asset 174,716 7,950 - - Non-recoverable item 85,301 19,794 - - Adjustment for changes in rates of income tax 622 (240 ) - - Others (8,918 ) (2,397 ) (995 ) Income tax 319,956 62,208 43,700 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 2021 income tax rates of 29.5%, 27% and 31% respectively (29.5%, 27% and 32% for 2020). Red Vial 5 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. Rates Utility Taxes before the local Tax Tax Country Applicable to Rent to rent (A) (B) (A)*(B) 2019 Peru 29.50 % (1,612,192 ) (475,596 ) Peru - Red Vial 5 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 % (38,177 ) (10,307 ) Colombia 33.00 % (11,824 ) (3,902 ) Bolivia 25.00 % 681 170 Mexico 30.00 % 1,261 378 Unrealized gains 1,022,711 300,119 (474,725 ) (141,370 ) Rates Utility Taxes before the local Tax Tax Country Applicable to Rent to rent (A) (B) (A)*(B) 2020 Peru 29.50 % (130,909 ) (38,612 ) Peru - Red Vial 5 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 % 5,401 1,458 Colombia 32.00 % (11,178 ) (3,577 ) Bolivia 25.00 % (13 ) (3 ) México 30.00 % (1,283 ) (385 ) Unrealized gains (3,095 ) (2,073 ) (111,212 ) (34,133 ) 2021 Peru 29.50 % (76,324 ) (22,516 ) Peru - Red Vial 5 S.A. 27.00 % 40,473 10,928 Peru - Tren Urbano de Lima S.A. 30.00 % 61,484 18,445 Peru - Via Expresa Sur S.A. 30.00 % (3,804 ) (1,141 ) Peru - Unna Energia S.A. 29.00 % 24,699 6,916 Chile 27.00 % (71,692 ) (19,357 ) Colombia 32.00 % 1,040 322 Bolivia 25.00 % 59 15 México 30.00 % (288 ) (86 ) Unrealized gains (22,261 ) (6,708 ) (46,614 ) (13,182 ) 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 2017 through 2021 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 2018 to 2021 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 2019, 2020 and 2021 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, 2021. 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 assets (Concesionaria Via Expresa Sur S.A. and Promotora Larcomar S.A.) equal to S/10.8 million. j) The current income tax payable, after applying the corresponding tax credits and whose due date is up to the first week of April of the following year, includes mainly: - Unna Energia S.A. S/29.3 million in 2021 - Viva Negocio Inmobiliario S.A. S/1.6 million en 2021 - Morelco S.A.S. S/4.8 million in 2021 |
Other Comprehensive Income
Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of analysis of other comprehensive income by item [text block] [Abstract] | |
OTHER COMPREHENSIVE INCOME | 30 OTHER COMPREHENSIVE INCOME The analysis of this account is reflected below: Exchange Foreign Increase in difference from net currency fair value of investment Cash flow translations available-for in a foreign hedge adjustment sale assets operation Total As of January 1, 2019 588 (62,390 ) 7,461 (9,954 ) (64,295 ) (Charge) credit for the year 8 (6,892 ) - - (6,884 ) Tax effects (2 ) - - (2 ) Other comprehensive income of the year 6 (6,892 ) - - (6,886 ) As of December 31, 2019 594 (69,282 ) 7,461 (9,954 ) (71,181 ) As of January 1, 2020 594 (69,282 ) 7,461 (9,954 ) (71,181 ) (Charge) 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 ) (Charge) credit for the year - (5,957 ) - (425 ) (6,382 ) Other comprehensive income of the year - (5,957 ) - (425 ) (6,382 ) As of December 31, 2021 - (67,081 ) 7,461 (9,671 ) (69,291 ) 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: 2019 2020 2021 Controlling interest (6,886 ) 8,272 (6,382 ) Non-controlling interest (1,734 ) 114 (33 ) Total value in OCI (8,620 ) 8,386 (6,415 ) |
Contingencies, Commitments, and
Contingencies, Commitments, and Warranties | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Contingencies Commitments And Warranties Explanatory [Abstract] | |
CONTINGENCIES, COMMITMENTS, AND WARRANTIES | 31 CONTINGENCIES, COMMITMENTS, AND WARRANTIES In the opinion of Management and its legal advisors, the provisions registered mainly for civil lawsuits, labor dispute processes, contentious and administrative processes 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/288.8 million according to the following detail: Claim process before SUNAT regarding the results of income tax audits from 2014 to 2016 amounting to S/211.6 million (S/109.2 million of AENZA S.A.A., S/78.8 million of Cumbra Peru S.A., S/17.2 million of Cumbra Ingenieria S.A., S/3 million of CCDS, S/2.5 million of Consorcio Constructor Chavimochic and S/0.9 million of Unna Transporte S.A.C.). Appeal process before the Tax Court regarding the results of income tax audits for the years 2009, 2012 to 2014 and 2016 amounting to S/77.2 million (S/46.1 million of AENZA S.A.A., S/22.5 million of Cumbra Peru S.A., S/5.1 million of Cumbra Ingenieria S.A. and S/3.5 million of 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 The Company considers that the maximum exposure for other contingencies of the Corporate amounts to S/84.7 million according to the following detail: - Administrative processes amounting to S/12.6 million (Cumbra Peru S.A. for S/5.4 millon,Tren Urbano de Lima S.A. for S/4.9 million, AENZA S.A.A for S/2 million and Unna Energia S.A. for S/0.3 million). - Civil lawsuits, mainly related to indemnities for damages, contract terminations and obligations to pay a sum of money amounting to S/59.8 million (Cumbra Peru S.A. for S/52.6 million, Red Vial 5 S.A. for S/1.5 million, Cumbra Ingenieria S.A. for S/3.8 million, Unna Transporte S.A.C for S/1.1 million and Viva Negocio Inmobiliario S.A. for S/0.8 million). - Contentious administrative process, corresponding mainly to non-compliance amounting to S/3.7 million (Unna Energia S.A. for S/1.9 million, Morelco SAS for S/1.1 million and Cumbra Peru S.A. for S/0.7 million). - Labor dispute processes amounting to S/8.6 million (Morelco SAS for S/5.9 million, Unna Energia S.A. and subsidiaries for S/1.9 million, Unna Transporte S.A.C for S/0.6 million and Viva Negocio Inmobiliario S.A. for S/0.2 million). c) Letters bonds and guarantees The Corporate maintains letters of guarantee and guarantees in force in various financial institutions guaranteeing operations for US$372.4 million (US$427.5 million as of December 31, 2020). |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of business combinations [text block] [Abstract] | |
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 interest put and call options 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 shareholders. Through this contract, the non-controlling shareholders obtain a right to sell their shares within the term and amount established in the contract (put options). The period for exercising the option begins on completion of the second year of the purchase and expires in the tenth year. The exercise price is based on a multiple of EBITDA less net financial debt and until the months 51 and 63 from the date of the agreement, a minimum value is set based on the price per share that the Company paid to acquire 70% of Morelco shares. 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 interest and, consequently, the Corporation recognizes a liability measured by the fair value of that option, as of December 31, 2020, the value of the liability amounts to S/118.6 million (as of December 31, 2019, it was S/106.4 million). Because the Corporation concluded that as a result of this contract, did not acquire the significant risks and rewards inherent to the stock option package, the initial recognition of this liability was charged to an equity account of the controlling stockholders, under the heading of other reserves. 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 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”. In 2021, Cumbra Peru renegotiated the terms of the Agreement and on December 15, 2021 acquired directly and indirectly (through its subsidiary Cumbra Inversiones Colombia S.A.S) the entire non-controlling interest for US$15.4 million and maintains a payable of US$7 million (equivalent to S/28 million - Note 21 c). As a result of the renegotiation of the put option liability, the Company recognized income of S/70.3 million in item “other income and other expenses, net” (Note 28) and derecognized the non-controlling interest. |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of dividends [text block] [Abstract] | |
DIVIDENDS | 33 DIVIDENDS In compliance with certain covenants the Company will not pay dividends, except for the transactions with non-controlling interests described in Note 35). Certain debt or other contractual obligations may restrict the ability to pay dividends in the future. Additionally, the “Preparatory Agreement for Effective Collaboration” does not permit the distribution of dividends until 40% of the total amount of the committed Civil Redress described in Note 1-d) has been amortized. For the period ended December 31, 2021, the Corporation’s subsidiaries have paid dividends to their noncontrolling unitholders of S/43 million (S/82.4 million for the same period in 2020). |
Loss Per Share
Loss Per Share | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of earnings per share [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. For the periods ended December 31, 2019, 2020 and 2021, the basic loss per common share is as follows: 2019 2020 2021 Loss attributable to owners of the Company during the period (884,721 ) (217,871 ) (153,210 ) Weighted average number of shares in issue at S/1.00 each, at December 31, 822,213,119 871,917,855 871,917,855 Basic loss per share (in S/) (*) (1.076 ) (0.250 ) (0.176 ) 2019 2020 2021 Loss from continuing operations attributable to owners of the Company during the period (840,762 ) (200,947 ) (126,436 ) Weighted average number of shares in issue at S/1.00 each, at December 31, 822,213,119 871,917,855 871,917,855 Basic loss per share (in S/) (*) (1.023 ) (0.230 ) (0.145 ) (*) The Corporation does not have common shares with dilutive effects as of December 31, 2019, 2020 and 2021. |
Transactions with Non-Controlli
Transactions with Non-Controlling Interests | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Transactions With Noncontrolling Interests Explanatory [Abstract] | |
TRANSACTIONS WITH NON-CONTROLLING INTERESTS | 35 TRANSACTIONS WITH NON-CONTROLLING INTERESTS a) Acquisition of additional non-controlling interest During 2016, GyM Chile S.P.A. acquired additional 13.69% of shares in Vial y Vives - DSD S.A. at a total purchase price of S/51.1 million; the carrying values of the non-controlling interest at the dates of acquisitions totaled S/35.7 million. The Corporation discontinued recognizing the related noncontrolling interest, recording a decrease in equity attributable to owners of the Company of S/15.4 million. As of December 31, 2021, there is an outstanding balance of S/25.3 million (S/27.6 million in 2020) (Note 21). b) Contributions (returns) from 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: 2019 2020 2021 Contributions received 152 18 182 Returns of contributions (33,148 ) (15,743 ) (27,286 ) Decrease in equity of non controlling parties (32,996 ) (15,725 ) (27,104 ) |
Operations of Subsidiary Adexus
Operations of Subsidiary Adexus S.A. Reclassified as Discontinuing Operations | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of discontinued operations [Abstract] | |
OPERATIONS OF SUBSIDIARY ADEXUS S.A. RECLASSIFIED AS DISCONTINUING OPERATIONS | 36 OPERATIONS OF SUBSIDIARY ADEXUS S.A. RECLASSIFIED AS DISCONTINUING OPERATIONS On November 19, 2019, Adexus filed a petition for bankruptcy reorganization under Chilean Law 20,720 before the Chilean courts. As a result, the Company impaired the total investment in that subsidiary at the end of 2019. On January 9, 2020, the Company reported that the meeting of creditors of Adexus approved with the favorable vote of more than 80% of the pledgees and 85% of the secured creditors, respectively, the judicial reorganization agreement proposed by Adexus under the reorganization proceeding. On December 27, 2021, the Company entered into a purchase and sale agreement for its entire interest (representing 100%) in Adexus S.A. (hereinafter “Adexus”). The sale price was agreed at US$1. On January 5, 2022, the Judicial Court in this case approved the modification of the Judicial Reorganization Agreement filed by Adexus, which allows the transfer of Adexus shares. The financial result and cash flow information of the discontinued operation related to Adexus S.A. is presented below: 2019 2020 2021 Revenues 252,857 167,624 162,967 Operating costs (244,183 ) (157,268 ) (157,299 ) Gross profit 8,674 10,356 5,668 Administrative expenses (34,744 ) (18,896 ) (21,698 ) Other (expenses) income, net (12,740 ) (1,664 ) 20 Operating loss (38,810 ) (10,204 ) (16,010 ) Financial expenses (24,359 ) (10,588 ) (15,847 ) Financial income 2,625 104 121 Loss before income tax (60,544 ) (20,688 ) (31,736 ) Income tax 16,585 3,764 4,962 Loss from discontinued operations (43,959 ) (16,924 ) (26,774 ) Net effect in consolidated (43,959 ) (16,924 ) (26,774 ) Cash flows relating to the discontinued operations are as follows: Operating cash flows 437 27,894 786 Investing cash flows - (3,301 ) (3,573 ) Financing cash flows (1,250 ) (21,016 ) 8,449 Net increase generated in subsidiary (813 ) 3,577 5,662 |
Events After The Date of The St
Events After The Date of The Statement of Financial Position | 12 Months Ended |
Dec. 31, 2021 | |
Events After The Date Of The Statement Of Financial Position [Abstract] | |
EVENTS AFTER THE DATE OF THE STATEMENT OF FINANCIAL POSITION | 37 EVENTS AFTER THE DATE OF THE STATEMENT OF FINANCIAL POSITION a) Capital increase In accordance with the terms and conditions of the convertible bond, holders of 11,000 Convertible Bonds, each with a par value of US$1,000 and for a principal amount equivalent to US$11 million, communicated the exercise of their conversion rights. On February 28, 2022, the Company issued provisional certificates for 37,801,073 new common shares, with a nominal value of S/1.00 each, with voting rights, and they are fully subscribed and paid. Therefore, the Company increased its capital stock from S/871,917,855 to S/ 909,718,928; and with respect to the convertible bonds, the principal balance to date amounts to US$79 million. Additionally, on March 31, 2022, holders of 78,970 convertible bonds, each for a par value of US$1,000. 00 and for a principal amount equivalent to US$78,970,000, have communicated the exercise of their conversion right. The company converted the bonds, as well as paid the accrued interest to the bondholders who have exercised their conversion rights. As a consequence, we issued provisional certificates for 287,261,051 new common shares. Therefore, our capital stock has increased from S/909,718,928 to S/1,196,979,979. After this last conversion of the convertible bonds, the bonds have been fully cancelled. b) Bridge Loan On March 17, 2022, the company entered into a bridge loan credit agreement for up to US$120 million, with a group of financial entities comprised by Banco BTG Pactual S.A. - Cayman Branch, Banco Santander Peru S.A., HSBC Mexico, S.A., Institucion de Banca Multiple, Grupo Financiero HSBC, and Natixis, New York Branch. The proceeds of this loan will be used, among other corporate purposes, to execute the mandatory redemption of the bonds convertible into shares of our company. The financing will be repaid over a period of 18 months, and will be secured, subject to the fulfillment of certain precedent conditions, by a flow trust (first lien), a trust over the shares of Viva Negocio Inmobiliario S.A. (second lien), and a pledge on our shares in Unna Energía S.A. (first lien). c) Shareholder class action lawsuits As of the date of this report, the amount derived from the shareholder class action lawsuits in the Eastern District Court of New York, explained in Note 22, has been paid in full. d) Concesionaria Chavimochic S.A.C. On April 19, 2022, a joint agreement was signed to request the arbitration tribunal - taking into consideration that there is an ongoing arbitration filed by the concessionaire in 2017 - to suspend the issuance of the arbitration resolution. According to the signed minutes, the deadline for negotiations between the Ministry of Agriculture and Irrigation and the Chavimochic concessionaire is 60 working days, and this deadline may be extended 30 working days for the signing of the addendum to the contract, which will allow the concessionaire to finish the Palo Redondo dam, which is currently 70% complete. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
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, 2020 and 2021, 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 financial assets measured at fair value. The financial statements are presented in thousands of Peruvian Sol unless otherwise stated. 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 interest on an acquisition-by-acquisition basis. As of December 31, 2020, and 2021, the measurements of the non-controlling interest in the Corporation´s acquisitions were made at the non-controlling interest´s proportionate share of the recognized amounts of the acquiree’s identifiable net assets. 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 interest, over the net identifiable assets acquired and liabilities and contingent liabilities assumed. If the acquisition cost is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized in profit or loss at the time of acquisition. For consolidating subsidiaries, balances, income, and expenses from transactions between Corporation companies are eliminated. Profits and losses resulting from inter-company transactions that are recognized as assets are also eliminated. Corporation 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 interests that do not result in loss of control are accounted for as equity transactions, in other words as transactions with owners in their capacity as owners. The difference between the fair value of any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interest are also recorded in equity at the time of disposal. c) Disposal of subsidiaries When the Corporation ceases to have control over a subsidiary, any retained interest in the entity is re-measured at its fair value at the date when control is lost, with the change in carrying amount recognized in profit or loss at such date. The fair value is the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that entity are accounted for as if the Corporation had directly disposed of the related assets or liabilities. This may mean that the amount previously recognized in other comprehensive income is reclassified to profit or loss. 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 it 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. 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. Foreign exchange gains and losses resulting from the settlement of such transactions are recognized in the consolidated income statement, except when deferred in other comprehensive income. Foreign exchange gains and losses of all monetary items are included in the income statement within financial income or expense. 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 in the income statement on the disposal of the subsidiary or debt repayment to the extent such loans qualify as part of the “net investment in a foreign operation”. 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-iii (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 bank deposits, other highly liquid investments with original maturities of three months or less and bank overdrafts. In the consolidated statement of financial position, bank overdrafts are included in the balance of borrowings as current liabilities. |
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 this classification at the date of each closing of its consolidated financial statements. As of December 31, 2020, and 2021, the Corporation only maintains financial assets in the following categories: 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 assets. 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. c) Financial assets at fair value through profit or loss Financial assets that do not meet the criteria of amortized cost 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 financial assets initially recognized by the Corporation at their fair value upon initial recognition and are held for sale. These are included in current assets. 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 twelve 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 twelve 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 twelve 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 at their fair value at the end of each reporting period. The method for recognizing the gain or loss resulting from changes in the fair value of the derivatives depends on whether they are designated as a hedging instrument, and if so, the nature of the item being hedged. 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 asset or liability when the remaining maturity period of the hedged item is more than twelve months and as a current asset or liability when the remaining maturity period of the hedged item is less than twelve months. Trading derivatives are classified as a current asset or liability. 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 asset (for example, inventory or fixed assets), the gains or losses previously deferred in equity are transferred from equity and are included in the initial measurement of the cost of the non-financial asset. The deferred amounts are finally recognized in cost of goods sold in the case of inventory or depreciation in the case of fixed assets. 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 assets. 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 and ). 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 replacement value, the lower. The cost of these items includes freight and non-refundable applicable taxes. 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 s ignificant components with useful lives substantially different (each component is treated separately for depreciation purposes). 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 interest and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the net identifiable assets acquired. If the payment made, the amount of the non-controlling interest recognized and previously held interest measured at fair value is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated statement of income. Goodwill acquired in a business combination is allocated to each cash-generating unit (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 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 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 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 Block V and the unit of production method for Blocks III and IV 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 recognized 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 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 assets other than goodwill that have been subject to write-offs for impairment is reviewed at each reporting date to verify possible reversals of impairment. |
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 liabilities. |
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 liabilities. 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 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-d. |
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 twelve 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 benefits. 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, 2020, and 2021, 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, and accrue based on the consideration of the service. There are no bonuses in Chile and in Colombia it is called service bonus and corresponds to a monthly remuneration per year. 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) or 10% of the profit, to be determined by the employer, (iii) in Colombia these benefits are not provided to employees up to a maximum of twelve monthly remunerations. 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) |
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 rate that reflects, when applicable, the specific risks related to the liability. Reversal of the discount due to the passage of time results in the obligation being recognized with a charge to the statement of income as a financial expense. 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. 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 will be 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 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 In the case of a put option contract on the equity of a subsidiary that allows the shareholder to reallocate its shares in a certain period, 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 interest. 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 profit and loss. |
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. The following details the Corporation policy of recognition for each type of income according to IFRS 15: i) Engineering and construction Revenues from engineering and construction (E&C) 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 method, based on surveys of performance by the Corporation’s experts who review the work performed to date under each contract. 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 – Real estate, urban and industrial lots 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) Energy 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 enforced at the delivery of the goods. iv) Infrastructure 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, enforced 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, depreciation and amortization, and indirect costs. Periodically, the evaluates the reasonableness of the estimates used in the determination of the total estimated contract cost. If, as a result of this evaluation, there are modifications to the revenue or cost previously estimated, or if the total estimated cost of the project exceeds expected revenues, an adjustment is made in order to reflect the effect in results of the period in which the adjustment or loss is incurred. 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 characteristics according to IFRS 16 Leases (hereinafter “IFRS 16”) for recognition, measurement, presentation and disclosure. The Corporatio n 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 Corporat The Corporation recognizes a right-of-use asset and a lease liability as of the beginning of the lease. The right-of-use asset is initially measured by the initial amount of the lease liability adjusted for any lease payment made on or before the start date, plus the initial direct costs incurred. The right-of-use assets are depreciated in a straight line, from the start date until the end of the lease contract. The term of the lease includes the periods covered by an option to extend the contract if the Corporation is reasonably sure to exercise that option. 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 asset is adjusted. 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. |
Balances reclassified | 2.32 Balances reclassified as of December 31, 2020 i) Balances reclassified in the consolidated statement of financial position The reclassified balance comes from the subsidiary Cumbra Peru S.A. and correspond to the presentation of the net position of customer and supplier balances related to the projects that are in arbitration proceedings: - Generating Plant Machu Picchu (Empresa de Generacion Electrica Machu Picchu S.A.) - Talara Refinery (Tecnicas Reunidas de Talara S.A.C.) - Cerro del Aguila Hydroelectric Power Plant (Andritz Hydro S.A.) As a result of this process, the balances in the consolidated statement of financial position are reclassified as follows: As of December 31, 2020 As of December 31, 2020 (*) Reclassification As restated ASSETS Current assets Trade accounts receivables, net 703,167 (15,653 ) 687,514 Other accounts receivable 433,531 (28,788 ) 404,743 Other current assets 1,688,911 - 1,688,911 Total current assets 2,825,609 (44,441 ) 2,781,168 Non-current assets Trade accounts receivable, net 730,666 (41,373 ) 689,293 Other non-current assets 2,556,289 - 2,556,289 Total non-current assets 3,286,955 (41,373 ) 3,245,582 Total assets 6,112,564 (85,814 ) 6,026,750 (*) Consolidated statement of financial position submitted on June 9, 2021 (Note 2.32-i) As of December 31, 2020 As of December 31, 2020 (*) Reclassification As restated LIABILITIES AND EQUITY Current liabilities Trade accounts payable 1,097,167 (32,751 ) 1,064,416 Other accounts payable 718,406 (11,690 ) 706,716 Other current liabilities 682,399 - 682,399 Total current liabilities 2,497,972 (44,441 ) 2,453,531 Non-current liabilities Provisions 336,609 (41,373 ) 295,236 Other non-current liabilities 1,682,687 - 1,682,687 Total non-current liabilities 2,019,296 (41,373 ) 1,977,923 Total liabilities 4,517,268 (85,814 ) 4,431,454 Equity Total equity 1,595,296 - 1,595,296 Total liabilities and equity 6,112,564 (85,814 ) 6,026,750 (*) Consolidated statement of financial position submitted on June 9, 2021 (Note 2.32-i) |
Non-operating items | 2.31 Non-operating items Non-operating items are separately shown in the financial statements when they are necessary to provide an adequate understanding of the Corporation’s financial performance. These material items are income or expenses shown separately due to their nature or significant amount. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Summary of Significant Accounting Policies [Abstract] | |
Schedule of major equipment is calculated under the straight-line method to allocate their cost less their residual values over their estimated useful lives | 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 |
Schedule of consolidated statement of financial position | As of December 31, 2020 As of December 31, 2020 (*) Reclassification As restated ASSETS Current assets Trade accounts receivables, net 703,167 (15,653 ) 687,514 Other accounts receivable 433,531 (28,788 ) 404,743 Other current assets 1,688,911 - 1,688,911 Total current assets 2,825,609 (44,441 ) 2,781,168 Non-current assets Trade accounts receivable, net 730,666 (41,373 ) 689,293 Other non-current assets 2,556,289 - 2,556,289 Total non-current assets 3,286,955 (41,373 ) 3,245,582 Total assets 6,112,564 (85,814 ) 6,026,750 As of December 31, 2020 As of December 31, 2020 (*) Reclassification As restated LIABILITIES AND EQUITY Current liabilities Trade accounts payable 1,097,167 (32,751 ) 1,064,416 Other accounts payable 718,406 (11,690 ) 706,716 Other current liabilities 682,399 - 682,399 Total current liabilities 2,497,972 (44,441 ) 2,453,531 Non-current liabilities Provisions 336,609 (41,373 ) 295,236 Other non-current liabilities 1,682,687 - 1,682,687 Total non-current liabilities 2,019,296 (41,373 ) 1,977,923 Total liabilities 4,517,268 (85,814 ) 4,431,454 Equity Total equity 1,595,296 - 1,595,296 Total liabilities and equity 6,112,564 (85,814 ) 6,026,750 |
Financial Risk Management (Tabl
Financial Risk Management (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of financial risk management [text block] [Abstract] | |
Schedule of financial assets and liabilities | At At December 31, December 31, 2020 2021 Soles (a) 3.624 3.998 Chilean Pesos (b) 711.24 844.69 Colombian Pesos (c) 3,432.50 3,981.16 |
Schedule of financial position | 2020 2021 US$(000) US$(000) Assets 562,761 519,448 Liabilities 295,120 512,947 |
Schedule of corporation’s exchange gains and losses | 2019 2020 2021 Gain 390,008 426,164 383,199 Loss (422,578 ) (429,930 ) (430,410 ) |
Schedule of foreign currency | 2020 2021 Assets Liabilities Assets Liabilities Chilean Pesos 40,869,086 74,151,415 37,652,361 97,540,055 Colombian Pesos 113,350,078 54,581,654 63,774,095 33,770,395 |
Schedule of financial liabilities | Less than 1-2 2-5 More than As of December 31, 2020 1 year years years 5 years Total Other financial liabilities (except for finance leases and lease liability for right-of-use asset) 433,318 183,796 197,785 23,953 838,852 Finance leases 16,287 14,919 20,851 8,515 60,572 Lease liability for right-of-use asset 24,714 32,006 19,847 11,131 87,698 Bonds 137,090 168,673 385,919 971,543 1,663,225 Trade accounts payables (except non-financial liabilities) 968,719 40,502 - - 1,009,221 Accounts payables to related parties 43,818 35,461 - 836 80,115 Other accounts payables and other provisions (except non-financial liabilities) 344,411 62,943 230,352 322,123 959,829 1,968,357 538,300 854,754 1,338,101 4,699,512 As of December 31, 2021 Less than 1-2 2-5 More than Total Other financial liabilities (except for finance leases and lease liability for right-of-use asset) 224,503 52,751 173,392 124,320 574,966 Finance leases 5,624 4,613 296 - 10,533 Lease liability for right-of-use asset 18,817 24,295 21,993 8,086 73,191 Bonds 137,852 206,476 837,931 792,037 1,974,296 Trade accounts payables (except non-financial liabilities) 912,826 - - - 912,826 Accounts payables to related parties 51,004 50,712 - - 101,716 Other accounts payables and other provisions (except non-financial liabilities) 323,070 22,941 109,383 422,666 878,060 1,673,696 361,788 1,142,995 1,347,109 4,525,588 |
Schedule of gearing ratio | 2020 2021 Total borrowings and bonds (Note 18 and Note 19) 1,831,079 1,840,822 Less: Cash and cash equivalents (Note 9) (900,168 ) (957,178 ) Net debt 930,911 883,644 Total equity 1,595,296 1,453,266 Total capital 2,526,207 2,336,910 Gearing ratio 0.37 0.38 |
Schedule of assets and liabilities measured at fair value | Level 3 As of December 31, 2020 Financial liabilities Other financial entities (Note 18-d) 152,523 As of December 31, 2021 Financial liabilities Other financial entities (Note 18-d) 165,878 |
Critical Accounting Estimates_2
Critical Accounting Estimates and Judgments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of accounting judgements and estimates [text block] [Abstract] | |
Schedule of sensitivity analysis increasing or decreasing the assumptions of gross margin, discount rate, and revenue and terminal growth rate | Difference between recoverable amount and carrying amounts 2020 2021 Goodwill Gross margin (10 )% +10% (10 )% +10% Engineering and construction (8.30 )% 37.10 % (111.04 )% (68.87 )% Electromechanical 41.81 % 55.60 % 27.66 % 75.53 % Discount rate: (10 )% +10% (10 )% +10% Engineering and construction 32.68 % 0.53 % (72.22 )% (103.35 )% Electromechanical 52.32 % 45.23 % 57.09 % 46.39 % Terminal growth rate: (10 )% +10% (10 )% +10% Engineering and construction 11.58 % 17.44 % (92.70 )% (86.99 )% Electromechanical 46.83 % 50.65 % 51.59 % 51.59 % Trademarks Revenue growth rate: (10 )% +10% (10 )% +10% Morelco 59.65 % 123.51 % 27.78 % 77.02 % Vial y Vives - DSD (1.04 )% 2.79 % (6.61 )% 14.14 % Discount rate: (10 )% +10% (10 )% +10% Morelco 124.29 % 66.82 % 78.73 % 32.50 % Vial y Vives - DSD (6.56 )% 9.95 % (6.50 )% 16.83 % Terminal growth rate: (10 )% +10% (10 )% +10% Morelco 86.47 % 97.09 % 48.35 % 56.77 % Vial y Vives - DSD (9.14 )% 11.05 % 5.15 % 2.43 % |
Schedule of sensitivity analysis was performed considering increase/decrease corporation’s gross margins | 2019 2020 2021 Revenues 2,411,880 1,815,671 2,272,561 Gross profit 60,317 99,362 93,913 % 2.50 5.47 4.13 Plus 10% 2.75 6.02 4.54 Increase in profit before income tax 6,010 9,941 9,261 66,327 109,303 103,174 Less 10% 2.25 4.92 3.72 Decrease in profit before income tax (6,010 ) (9,941 ) (9,261 ) 54,307 89,421 84,652 |
Interests in Other Entities (Ta
Interests in Other Entities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of interests in other entities [text block] [Abstract] | |
Schedule of corporation’s subsidiaries and related interest | Percentage of common shares directly held by Parent (%) Percentage of common shares Percentage of common shares held by the Group (%) Percentage of common shares held by non-controlling interests (%) Engineering and Construction: Cumbra Peru S.A. 99.39 % - 99.39 % 0.61 % - Morelco S.A.S. - 100.00 % 100.00 % - - GyM Chile S.p.A. - 100.00 % 100.00 % - - Vial y Vives - DSD S.A. - 94.49 % 94.49 % 5.51 % - Cumbra Inversiones Colombia SAS - 100.00 % 100.00 % - 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. - 100.00 % 100.00 % 1.43 % Energy: 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. - 100.00 % 100.00 % - Infrastructure: Unna Transporte S.A.C. 100.00 % - 100.00 % - Tren Urbano de Lima S.A. 75.00 % - 75.00 % 25.00 % Carretera Andina del Sur S.A.C 100.00 % - 100.00 % - Red Vial 5 S.A. 18.20 % 48.80 % 67.00 % 33.00 % Carretera Sierra Piura S.A.C. 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 % - Percentage of common shares directly held by Parent (%) Percentage of common shares Percentage of common shares held by the Group (%) Percentage of common shares held by non-controlling interests (%) 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 % Energy: Unna Energía 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 % Infrastructure: Unna Transporte S.A.C. 100.00 % - 100.00 % - Tren Urbano de Lima S.A. 75.00 % - 75.00 % 25.00 % Carretera Andina del Sur S.A.C. 100.00 % - 100.00 % - Red Vial 5 S.A. 18.20 % 48.80 % 67.00 % 33.00 % Carretera Sierra Piura S.A.C. 99.96 % 0.04 % 100.00 % - Concesionaria Vía 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 % - |
Schedule of non-controlling interest is attributed | 2020 2021 Viva Negocio Inmobiliario S.A. and subsidiaries 132,238 116,400 Red Vial 5 S.A. 57,941 55,559 Tren Urbano de Lima S.A. 59,231 41,757 Unna Energia S.A. 24,162 29,217 Cumbra Peru S.A. and subsidiaries 51,798 9,430 Others 2,320 1,087 327,690 253,450 |
Schedule of summarized statement of financial position | Viva Negocio Inmobiliario S.A. Cumbra Peru S.A. Red Vial 5 S.A. Tren Urbano de 2020 2021 2020 2021 2020 2021 2020 2021 Current: Assets 541,703 493,385 1,265,612 1,371,524 72,462 104,292 367,610 344,769 Liabilities (249,816 ) (211,581 ) (1,642,914 ) (1,600,583 ) (45,185 ) (82,915 ) (85,616 ) (106,467 ) Current net assets (liabilities) 291,887 281,804 (377,302 ) (229,059 ) 27,277 21,377 281,994 238,302 Non-current: Assets 120,223 111,528 1,050,747 909,297 403,280 368,258 635,836 669,898 Liabilities (34,378 ) (29,742 ) (397,880 ) (181,716 ) (254,979 ) (221,274 ) (680,905 ) (741,202 ) Non-current net assets (liabilities) 85,845 81,786 652,867 727,581 148,301 146,984 (45,069 ) (71,304 ) Net assets 377,732 363,590 275,565 498,522 175,578 168,361 236,925 166,998 Viva Negocio Inmobiliario S.A. Cumbra Peru S.A. Red Vial 5 S.A. Tren Urbano de 2020 2021 2020 2021 2020 2021 2020 2021 Revenue 182,439 239,391 1,816,358 2,273,151 134,149 197,137 345,258 348,915 Profit (loss) before income tax 17,816 19,604 (76,669 ) (88,726 ) (2,029 ) 40,473 87,522 61,485 Income tax (2,854 ) (6,644 ) (1,753 ) (6,221 ) 1,405 (6,690 ) (26,681 ) (19,382 ) Profit (loss) for the year 14,962 12,960 (78,422 ) (94,947 ) (624 ) 33,783 60,841 42,103 Other comprehensive income - - 7,368 - - - - - Total comprehensive income for the year 14,962 12,960 (71,054 ) (94,947 ) (624 ) 33,783 60,841 42,103 Viva Negocio Inmobiliario S.A. Cumbra Peru S.A. Red Vial 5 S.A. Tren Urbano For the year ended For the year ended For the year ended For the year ended 2020 2021 2020 2021 2020 2021 2020 2021 Net cash provided from operating activities 84,770 94,017 1,400 (79,810) 37,473 93,515 52,055 41,725 Net cash (applied to) provided from investing activities (473 ) 1,114 (8,835 ) (28,592 ) (12 ) - 812 162 Net cash (applied to) provided from financing activities (71,484 ) (58,834 ) 26,550 21,300 (39,667 ) (69,914 ) (145,788 ) (67,255 ) (Decrease) increase in cash and cash equivalents, net 12,813 36,297 19,115 (87,102 ) (2,206 ) 23,601 (92,921 ) (25,368 ) Cash and cash equivalents at the beginning of the year 60,718 73,531 336,467 355,582 66,286 64,080 300,896 207,975 Cash and cash equivalents at the end of the year 73,531 109,828 355,582 268,480 64,080 87,681 207,975 182,607 |
Schedule of concessions held by the corporation | Name of Concessionary Description Estimated investment Consideration Ordinary shares held Concession termination Accounting model Carretera Andina del Sur 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). 100.00 % 2032 Financial asset Carretera Sierra Piura 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. 100.00 % 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 Concessionary Description Estimated investment Consideration Ordinary shares held Concession termination Accounting model Red Vial 5 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 Concesionaria Vía Expresa Sur S.A. The Company obtained the concession for designing, financing, building, operating and aintaining 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 February 2022. 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. 100.00 % 2053 Financial asset |
Schedule of corporation’s major joint operations | Percentage of interest Joint operations 2019 2020 2021 AENZA S.A.A. - Concesionaria La Chira S.A. 50 % 50 % 50 % Cumbra Peru S.A. - Consorcio CDEM 85 % - - - Consorcio Huacho Pativilca 67 % 67 % 67 % - Consorcio GyM – CONCIVILES 67 % 67 % 67 % - Consorcio Chicama - Ascope 50 % 50 % 50 % - Consorcio Constructor Alto Cayma 50 % 50 % 50 % - Consorcio GyM Sade Skanska 50 % - - - Consorcio Menegua 50 % - - - Consorcio Ermitaño 50 % 50 % 50 % - Consorcio GyM-Stracon 50 % 50 % 50 % - Consorcio GyM-OSSA 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 Rio Urubamba 50 % 50 % 50 % - Consorcio Rio Mantaro 50 % - - - Consorcio TNT Vial y Vives - DSD Chile LTDA 50 % - - - Constructora Incolur DSD Limitada 50 % - - - Consorcio Alto Cayma 49 % 49 % 49 % - Consorcio Energia y Vapor 50 % - - - 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 % 49 % - Consorcio Pasco 1 % 1 % 1 % Unna Energia S.A. - Consorcio Terminales 50 % 50 % 50 % - Terminales del Peru 50 % 50 % 50 % Percentage of interest Joint operations 2019 2020 2021 Unna Transporte S.A.C. - Consorcio Ancon-Pativilca 67 % 67 % - - Consorcio Peruano de Conservacion 50 % 50 % 50 % - Consorcio Manperan 67 % 67 % 67 % - Consorcio Vial Sierra 50 % 50 % 50 % - Consorcio Vial Ayahuaylas 99 % 99 % 99 % - Consorcio Vial ICAPAL 10 % 10 % - - Consorcio Vial Sullana 99 % 99 % 99 % - Consorcio Vial del Sur 99 % 99 % 99 % - Consorcio Obras Viales 99 % 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 % 40 % - Consorcio Supervisor GRH - 64 % 83 % - Consorcio Ecotec - GMI - 20 % 20 % |
Segment reporting (Tables)
Segment reporting (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Segmental Reporting Explanatory [Abstract] | |
Schedule of operating income (loss) before income taxes | 2019 2020 2021 Net loss (838,642 ) (190,344 ) (117,088 ) Financial income and expenses 178,787 117,523 272,527 Income tax 303,371 58,444 38,738 Depreciation and amortization 219,817 197,125 205,307 Initial EBITDA (136,667 ) 182,748 399,484 Extraordinary adjustments to EBITDA Impairment of investments 261,924 - - Impairment of accounts receivables 332,862 102,148 19,967 Impairment of goodwill 33,089 - - Provisions: civil compensation and legal claims 127,147 89,084 30,457 Provisions for labor claims - 7,434 - Put option on Morelco acquisition - - (70,322 ) Impairment recovery (40,094 ) - - Adjusted EBITDA 578,261 381,414 379,586 |
Schedule of EBITDA for each segment | 2019 2020 2021 Engineering and construction 51,147 55,766 29,318 Energy 180,759 109,443 173,664 Infrastructure 222,795 180,892 197,066 Real estate 56,821 32,555 36,912 Parent company operations (417,954 ) (93,933 ) (18,881 ) Intercompany eliminations 484,693 96,691 (38,493 ) EBITDA 578,261 381,414 379,586 |
Schedule of expected future revenue backlog | Annual Backlog (No audited) 2021 2022 2023 2024+ Engineering and Construction 1,782,117 602,887 596,639 582,591 Infrastructure 3,627,643 2,224,785 1,183,758 219,100 Real estate 179,848 151,866 27,983 - Intercompany eliminations (453,660 ) (148,826 ) (151,204 ) (153,630 ) 5,135,948 2,830,712 1,657,176 648,061 |
Schedule of operating segments financial position | Infrastructure As of December 31, 2020 Engineering and construction Energy Toll roads Transportation Water treatment 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 410,286 37,614 25,014 111,602 565 38,043 64,390 - 687,514 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 294,296 27,900 23,631 13,220 197 10,446 35,051 2 404,743 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 1,447,811 163,694 213,387 367,610 8,316 541,703 258,531 (219,884 ) 2,781,168 Long-term trade accounts receivable, net 11,663 - 15,740 632,214 - 2,181 27,495 - 689,293 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 assets, net 8,179 9,872 4,626 99 - 3,936 51,401 (13,595 ) 64,518 Deferred income tax asset 174,269 4,717 5,037 - 779 18,704 53,536 5,123 262,165 Total non-current assets 1,068,226 511,053 440,074 635,836 20,110 120,223 2,207,747 (1,757,687 ) 3,245,582 Total assets 2,516,037 674,747 653,461 1,003,446 28,426 661,926 2,466,278 (1,977,571 ) 6,026,750 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 829,082 51,225 51,221 32,637 61 42,565 57,625 - 1,064,416 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 513,505 12,905 35,997 6,719 766 91,976 40,252 4,596 706,716 Provisions 8,876 18,943 1,659 - - 492 62,787 - 92,757 Total current liabilities 1,798,717 118,057 143,477 85,616 993 249,816 279,652 (222,797 ) 2,453,531 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 81,130 37,599 26,034 1,925 - - 148,548 - 295,236 Deferred income tax liability 25,576 36,793 1,518 39,020 - - - - 102,907 Total non-current liabilities 399,927 177,546 290,331 680,905 26,969 34,378 709,343 (341,476 ) 1,977,923 Total liabilities 2,198,644 295,603 433,808 766,521 27,962 284,194 988,995 (564,273 ) 4,431,454 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 interest 55,892 24,162 57,943 59,231 - 238,799 2,885 (111,222 ) 327,690 Total liabilities and equity 2,516,037 674,747 653,461 1,003,446 28,426 661,926 2,466,278 (1,977,571 ) 6,026,750 Infrastructure As of December 31, 2021 Engineering and construction Energy Toll roads Transportation Water treatment Real estate Parent Eliminations Consolidated Assets.- Cash and cash equivalent 303,925 121,873 114,100 182,607 7,499 109,828 117,346 - 957,178 Trade accounts receivables, net 366,299 67,662 38,418 106,856 1,003 9,958 84 - 590,280 Work in progress, net 309,063 - - - - - - - 309,063 Accounts receivable from related parties 95,390 121 48,012 4,309 - 3,166 52,644 (182,825 ) 20,817 Other accounts receivable 390,133 31,092 30,057 18,734 960 3,783 12,297 2 487,058 Inventories, net 48,192 35,489 7,662 31,949 13 366,650 - (1,629 ) 488,326 Prepaid expenses 15,838 3,575 6,531 344 52 - 5,802 - 32,142 Total current assets 1,528,840 259,812 244,780 344,799 9,527 493,385 188,173 (184,452 ) 2,884,864 Long-term trade accounts receivable, net 851 - 15,654 666,801 - - - - 683,306 Long-term accounts receivable from related parties 335,150 - 19,700 42 11,536 - 584,596 (307,127 ) 643,897 Prepaid expenses - 981 20,558 1,894 684 - - (510 ) 23,607 Other long-term accounts receivable 10,448 86,815 - - 7,346 57,243 39,508 - 201,360 Investments in associates and joint ventures 108,038 8,951 - - - 5,443 1,559,672 (1,650,931 ) 31,173 Investment property - - - - - 22,416 42,558 (1,963 ) 63,011 Property, plant and equipment, net 142,228 153,456 7,056 749 181 6,845 1,653 (8,998 ) 303,170 Intangible assets, net 142,499 257,580 322,625 351 - 733 14,575 5,028 743,391 Right-of-use assets, net 3,825 3,890 5,308 61 17 1,888 40,789 (8,061 ) 47,717 Deferred income tax asset 179,319 4,717 21,304 - 644 16,960 47,038 5,094 275,076 Total non-current assets 922,358 516,390 412,205 669,898 20,408 111,528 2,330,389 (1,967,468 ) 3,015,708 Total assets 2,451,198 776,202 656,985 1,014,697 29,935 604,913 2,518,562 (2,151,920 ) 5,900,572 Liabilities.- Borrowings 136,512 27,046 3,687 45 18 69,065 13,573 (8,606 ) 241,340 Bonds 4,896 - 36,637 24,496 - - 3,809 - 69,838 Trade accounts payable 767,792 67,686 44,210 30,637 464 30,401 38,894 683 980,767 Accounts payable to related parties 130,848 1,079 47,340 42,185 19 19,155 13,623 (203,245 ) 51,004 Current income tax 59,407 15,748 17,920 - 347 1,058 478 - 94,958 Other accounts payable 560,920 23,116 38,198 9,104 791 91,342 31,510 - 754,981 Provisions 70,585 25,498 4,158 - - 560 54,028 - 154,829 Total current liabilities 1,730,960 160,173 192,150 106,467 1,639 211,581 155,915 (211,168 ) 2,347,717 Borrowings 5,382 121,693 1,721 15 - 5,315 205,244 (810 ) 338,560 Long-term bonds 21,386 - 215,296 602,201 - - 352,201 - 1,191,084 Other long-term accounts payable 54,026 - 8,163 219 2,862 24,427 2,672 - 92,369 Long-term accounts payable to related parties 25,957 - 1,006 88,213 24,671 - 197,844 (286,979 ) 50,712 Provisions 56,362 55,279 33,188 3,039 - - 181,629 - 329,497 Deferred income tax liability 18,665 31,187 - 47,515 - - - - 97,367 Total non-current liabilities 181,778 208,159 259,374 741,202 27,533 29,742 939,590 (287,789 ) 2,099,589 Total liabilities 1,912,738 368,332 451,524 847,669 29,172 241,323 1,095,505 (498,957 ) 4,447,306 Equity attributable to controlling interest in the Company 524,807 378,653 149,904 125,271 763 139,728 1,420,221 (1,539,531 ) 1,199,816 Non-controlling interest 13,653 29,217 55,557 41,757 - 223,862 2,836 (113,432 ) 253,450 Total liabilities and equity 2,451,198 776,202 656,985 1,014,697 29,935 604,913 2,518,562 (2,151,920 ) 5,900,572 |
Schedule of operating segments financial position | Infrastructure For the year ended December 31, 2019 Engineering and construction Energy Toll roads Transportation Water treatment Real estate Parent Elimination Consolidated Revenue 2,797,326 552,584 633,301 397,853 3,555 264,401 87,476 (651,492 ) 4,085,004 Gross profit (loss) 98,362 108,291 96,164 119,464 500 70,787 (2,168 ) (49,637 ) 441,763 Administrative expenses (141,421 ) (24,230 ) (28,623 ) (17,991 ) (397 ) (22,045 ) (40,402 ) 61,201 (213,908 ) Other income and expenses, net 9,937 606 (47,998 ) (2,661 ) 12 20,020 (305,749 ) (921 ) (326,754 ) Operating (loss) profit (33,122 ) 84,667 19,543 98,812 115 68,762 (348,319 ) 10,643 (98,899 ) Financial expenses (74,171 ) (13,266 ) (27,297 ) (10,948 ) (12 ) (42,320 ) (101,914 ) 38,219 (231,709 ) Financial income 5,644 2,033 2,245 33,214 826 3,829 73,832 (46,967 ) 74,656 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 (1,075,675 ) 483,202 (474,726 ) Income tax (35,457 ) (22,911 ) (17,112 ) (39,634 ) (506 ) (7,000 ) (196,219 ) (1,118 ) (319,957 ) (Loss) profit from continuing operations (140,664 ) 52,816 (22,621 ) 81,444 423 23,729 (1,271,894 ) 482,084 (794,683 ) (Loss) from discontinuing operations - - - - - - (42,857 ) (1,102 ) (43,959 ) (Loss) profit for the year (140,664 ) 52,816 (22,621 ) 81,444 423 23,729 (1,314,751 ) 480,982 (838,642 ) (Loss) profit from attributable to: Owners of the Company (137,109 ) 48,056 (28,270 ) 61,084 423 (4,995 ) (1,304,676 ) 480,766 (884,721 ) Non-controlling interest (3,555 ) 4,760 5,649 20,360 - 28,724 (10,075 ) 216 46,079 (140,664 ) 52,816 (22,621 ) 81,444 423 23,729 (1,314,751 ) 480,982 (838,642 ) Infrastructure For the period ended December 31, 2020 Engineering and construction Energy Toll roads Transportation Water treatment Real estate Parent Elimination Consolidated Revenue 2,092,592 369,798 466,824 345,258 3,359 182,439 71,197 (385,062 ) 3,146,405 Gross profit (loss) 115,995 53,251 40,858 107,918 366 40,345 (2,344 ) (46,137 ) 310,252 Administrative expenses (102,985 ) (16,119 ) (16,584 ) (12,738 ) (289 ) (16,462 ) (23,647 ) 54,811 (134,013 ) Other income and expenses, net (43,573 ) (4,185 ) (79,576 ) 72 42 1,962 (55,984 ) 60 (181,182 ) Operating (loss) profit (30,563 ) 32,947 (55,302 ) 95,252 119 25,845 (81,975 ) 8,734 (4,943 ) Financial expenses (54,173 ) (17,525 ) (32,376 ) (9,316 ) (275 ) (12,647 ) (48,371 ) 28,328 (146,355 ) Financial income 8,792 2,239 4,326 1,586 897 4,584 47,402 (30,510 ) 39,316 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 (181,610 ) 103,563 (111,212 ) Income tax (3,614 ) (7,500 ) (13,477 ) (26,681 ) (277 ) (2,854 ) (7,768 ) (37 ) (62,208 ) (Loss) profit from continuing operations (79,558 ) 12,552 (96,829 ) 60,841 464 14,962 (189,378 ) 103,526 (173,420 ) Loss from discontinuing operations - - - - - - (16,919 ) (5 ) (16,924 ) (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 interest (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 ) Infrastructure For the Period ended December 31, 2021 Engineering and construction Energy Toll roads Transportation Water treatment Real estate Parent Company operations Elimination Consolidated Revenue 2,559,071 541,859 515,382 348,915 3,650 239,391 67,202 (328,988 ) 3,946,482 Gross profit (loss) 121,058 110,078 81,964 81,993 1,322 42,025 3,372 (46,674 ) 395,138 Administrative expenses (125,094 ) (14,575 ) (14,460 ) (14,267 ) (449 ) (14,911 ) (46,193 ) 50,336 (179,613 ) Other income and expenses, net 40,301 (4,400 ) (3,683 ) 1,537 4 1,337 (38,705 ) (868 ) (4,477 ) Operating profit (loss) 36,265 91,103 63,821 69,263 877 28,451 (81,526 ) 2,794 211,048 Financial expenses (121,712 ) (14,705 ) (29,442 ) (8,298 ) (124 ) (11,947 ) (118,676 ) 42,330 (262,574 ) Financial income 1,870 1,034 2,544 520 510 2,269 40,740 (43,714 ) 5,773 Dividends - - - - - - 20,008 (20,008 ) - Share of profit or loss in associates and joint ventures (1,794 ) 2,833 - - - 831 32,638 (35,369 ) (861 ) (Loss) profit before income tax (85,371 ) 80,265 36,923 61,485 1,263 19,604 (106,816 ) (53,967 ) (46,614 ) Income tax (11,435 ) (22,469 ) (10,012 ) (19,382 ) (500 ) (6,644 ) 26,808 (66 ) (43,700 ) (Loss) profit from continuing operations (96,806 ) 57,796 26,911 42,103 763 12,960 (80,008 ) (54,033 ) (90,314 ) Loss from discontinuing operations - - - - - - (26,716 ) (58 ) (26,774 ) (Loss) profit for the year (96,806 ) 57,796 26,911 42,103 763 12,960 (106,724 ) (54,091 ) (117,088 ) (Loss) profit from attributable to: Owners of the Company (93,600 ) 51,294 15,946 31,577 763 794 (106,677 ) (53,307 ) (153,210 ) Non-controlling interest (3,206 ) 6,502 10,965 10,526 - 12,166 (47 ) (784 ) 36,122 (96,806 ) 57,796 26,911 42,103 763 12,960 (106,724 ) (54,091 ) (117,088 ) |
Schedule of segments geographical area | 2019 2020 2021 Revenues: - Peru 3,499,074 2,477,435 3,255,214 - Chile 344,169 514,907 585,317 - Colombia 241,761 151,876 105,951 - Mexico - 2,187 - 4,085,004 3,146,405 3,946,482 Non-current assets: - Peru 2,992,173 2,892,369 2,757,633 - Chile 235,803 245,727 159,309 - Colombia 123,758 107,486 98,766 3,351,734 3,245,582 3,015,708 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of derivative financial instruments [text block] [Abstract] | |
Summary of financial assets and liabilities by category | 2020 2021 Financial assets according to the statement of financial position Loans and accounts receivable at amortized cost: - Cash and cash equivalents 900,168 957,178 - Trade accounts receivable and other accounts receivable (excluding non-financial assets) 1,092,763 974,196 - Financial assets related to concession agreements 775,677 814,293 - Accounts receivable from related parties 647,409 664,714 3,416,017 3,410,381 2020 2021 Financial liabilities according to the statement of financial position Other financial liabilities at amortized cost: - Other financial liabilities 773,203 509,557 - Finance leases 52,391 9,836 - Lease liability for right-of-use asset 72,726 60,507 - Bonds 932,759 1,260,922 - Trade and other accounts payable(excluding non-financial liabilities) 1,403,074 1,178,830 - Accounts payable to related parties 80,115 101,716 3,314,268 3,121,368 Other financial liabilities: - Other provisions 534,207 576,194 |
Summary of credit quality of financial assets | 2020 2021 Cash and cash equivalents (*) Banco de Credito del Peru S.A. (A+) 351,515 492,076 Citibank del Peru S.A. (A+) 128,100 110,232 Banco BBVA Peru S.A. (A+) 147,868 109,344 Scotiabank Peru S.A.A. (A+) 52,448 83,192 Banco Internacional del Peru S.A.A. (A+) 45,808 77,497 Banco Santander Chile (AAA) 17,174 32,835 Banco de la Nacion (A) 22,882 22,627 Banco de Bogota (BB+) 12,194 13,950 Banco Santander Perú S.A. (A+) 54,478 2,878 Banco Interamericano de Finanzas S.A. (A+) 277 2,114 Banco Pichincha S.A.A. (A) 2 2,045 Scotiabank Chile (A+) 2,114 1,566 Bancolombia S.A. (AAA) 8,516 937 Banco Santander de Negocios Colombia S.A. (AAA) 18,256 139 Banco de Credito e Inversiones Chile (AAA) 8,579 112 Alianza Fiduciaria S.A. (AA+) 21,247 51 Other 5,374 2,426 896,832 954,020 |
Summary of credit quality of customers | 2020 2021 Trade accounts receivable (Note 10) Counterparties with no external risk rating A 40,034 28,156 B 1,218,497 1,234,437 C 118,276 10,993 1,376,807 1,273,586 Receivable from related parties and joint operators (Note 12) B 647,409 664,714 |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of cash and cash equivalents [text block] [Abstract] | |
Schedule of Disclosure of Savings Account | 2020 2021 Cash on hand 996 936 Remittances in-transit 2,340 2,222 Bank accounts Current accounts 161,227 142,029 Banco de la Nacion 20,862 19,847 Savings deposits and mutual funds 9,038 62 Time deposits (less than 3 months) (a) 95,265 205,302 286,392 367,240 Escrow account (b) Operational funds 298,435 261,001 Reserve funds 144,737 163,939 Consortium funds 122,088 78,589 Guarantee funds 45,180 83,251 610,440 586,780 Total Cash and Cash equivalents 900,168 957,178 (a) Time deposits have maturities less than 90 days and may be renewed upon maturity. These deposits earn interest that fluctuates between 0.26% and 1.75%. (b) The Corporation maintains trust accounts in local and foreign banks classified as: i) operating funds and consortium funds that are for the exclusive use of projects; and ii) reserve and guarantee funds that are intended to meet the payment of bonds issued and other obligations of the Corporation. |
Schedule of Time Deposits from Subsidiaries | Financial Interest entities rate 2020 2021 AENZA S.A.A. Banco de Credito del Peru S.A. 0.26 % 6,500 100,583 Tren Urbano de Lima S.A. Banco de Credito del Peru S.A. 1.70 % 65,000 55,000 Unna Energia S.A. Banco Internacional del Peru S.A.A. 0.35 % - 32,197 Unna Energia S.A. Banco de Credito del Peru S.A. 0.30 % 905 11,130 Concesionaria La Chira S.A. Banco BBVA Peru S.A. 1.65 % 6,250 4,000 Cumbra Ingenieria S.A. Banco de Credito del Peru S.A. 1.75 % - 2,392 Red Vial 5 S.A. Banco de Credito del Peru S.A. 0.25 % 7,429 - Carretera Andina del Sur S.A.C. Banco de Credito del Peru S.A. 0.15 % 4,800 - Carretera Sierra Piura S.A.C. Banco de Credito del Peru S.A. 0.25 % 4,381 - 95,265 205,302 |
Trade Accounts Receivables, N_2
Trade Accounts Receivables, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of trade and other receivables [text block] [Abstract] | |
Schedule of trade accounts receivables net | Total Current Non-current 2020 2021 2020 2021 2020 2021 Trade Receivables, net (a) 753,693 773,575 254,587 269,427 499,106 504,148 Unbilled receivables - Subsidiaries (b) 356,338 209,258 321,591 209,258 34,747 - Unbilled receivables - Concessions (c) 266,776 290,753 111,336 111,595 155,440 179,158 1,376,807 1,273,586 687,514 590,280 689,293 683,306 |
Schedule of trade accounts receivable corresponds | 2020 2021 Tren Urbano de Lima S.A. 743,816 773,657 Cumbra Peru S.A. 378,784 323,455 Unna Energia S.A. 37,614 67,662 Cumbra Ingenieria S.A. 43,165 43,695 Red Vial 5 S.A. 15,572 22,458 Unna Transporte S.A.C. 9,458 14,439 Carretera Andina del Sur S.A.C. 10,631 12,686 Viva Negocio Inmobiliario S.A. 40,224 9,958 Carretera Sierra Piura S.A.C. 5,093 4,489 Concesionaria La Chira S.A. 565 1,003 Adexus S.A. 91,669 - Others 216 84 1,376,807 1,273,586 |
Schedule of commercial receivables net | 2020 2021 Current 718,220 683,921 Past due up to 30 days 5,737 41,222 Past due from 31 days up to 90 days 6,801 11,668 Past due from 91 days up to 120 days 2,279 15,814 Past due from 121 days up to 360 days 4,185 7,070 Past due over 360 days 16,471 13,880 753,693 773,575 |
Schedule of unbilled receivables of subsidiaries | 2020 2021 Cumbra Peru S.A. 258,852 170,063 Cumbra Ingenieria S.A. 25,823 24,177 Unna Transporte S.A.C. 6,298 10,291 Unna Energia S.A. 1,512 4,718 Adexus S.A. 63,853 - Others - 9 356,338 209,258 |
Schedule of unbilled receivables of subsidiaries grouped | 2020 2021 Infrastructure Operation and maintenance of roads 4,167 9,192 Others 2,131 1,099 6,298 10,291 Energy 1,512 4,718 Engineering and Construction Cumbra Peru S.A. - Concentrator Plant and tunnel of Quellaveco 84,014 50,148 Cumbra Peru S.A. - Talara Refinery 28,956 43,677 Vial y Vives - DSD S.A. - Engineering and Construction Works 43,159 40,714 Cumbra Peru S.A. - Gasoducto Piura Project - 13,220 Cumbra Peru S.A. - Works and Consortiums 6,576 12,080 Morelco S.A.S. - Engineering and Construction Works 16,066 5,751 Cumbra Ingenieria S.A. - Mina Gold Fields La Cima S.A. Project 15,055 3,872 Cumbra Ingenieria S.A. - Mina Justa Project 1,743 446 Cumbra Peru S.A. - Civil Works, Assembly and Electromechanics - Acero Arequipa 1,357 - Others 87,749 24,332 284,675 194,240 Parent Company Operation 63,853 9 356,338 209,258 |
Schedule of unbilled receivables of concessions corresponds to future collections for public services granted according to the financial model | 2020 2021 Tren Urbano de Lima S.A. 235,763 256,526 Carretera Andina del Sur S.A.C. 10,611 12,667 Red Vial 5 S.A. 15,436 16,451 Carretera Sierra Piura S.A.C. 4,401 4,489 Concesionaria La Chira S.A. 565 620 266,776 290,753 |
Schedule of fair value and carrying amount | Carrying amount Fair value 2020 2021 2020 2021 Tren Urbano de Lima S.A. 590,092 605,775 783,643 624,137 |
Schedule of movement of impairment in trade accounts receivable | 2019 2020 2021 Balance at January, 1 (7,633 ) (8,422 ) (56,630 ) Impairment, net (Note 26.iii) (955 ) (19,772 ) (1,061 ) Impairment, net (Note 28.b) - (33,874 ) 84 Write-off (*) 12 5,653 8,340 Exchange difference 37 (212 ) (336 ) Translation adjustments 117 (3 ) (1 ) Balance at December, 31 (8,422 ) (56,630 ) (49,604 ) |
Work in Progress, Net (Tables)
Work in Progress, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Unbilled Work In Progress Explanatory [Abstract] | |
Schedule of work in progress | 2020 2021 Cumbra Peru S.A. 170,965 304,940 Cumbra Ingenieria S.A. 15,468 4,123 186,433 309,063 |
Schedule of work in progress grouped by the main projects | 2020 2021 Vial y Vives - DSD S.A. - Modernization and expansion of Arauco Plant 24,224 139,025 Vial y Vives - DSD S.A. - Quebrada Blanca Project 73,337 64,777 Cumbra Peru S.A. - Concentrator Plant and tunnel of Quellaveco 68,701 82,253 Cumbra Peru S.A. - Jorge Chavez Airport - 16,602 Cumbra Peru S.A. - Talara Refinery 15,468 - Others 4,703 6,406 186,433 309,063 |
Transactions With Related Par_2
Transactions With Related Parties And Joint Operators (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of related party [text block] [Abstract] | |
Schedule of transactions with related parties | 2019 2020 2021 Revenue from sales of goods and services: - Joint operations 44,130 15,903 22,374 - Associates 108 5 - 44,238 15,908 22,374 Purchase of goods and services: - Joint operations 1,765 - - - Associates - 1,225 4,478 1,765 1,225 4,478 |
Schedule of key management compensation | As of December 31, As of December 31, 2020 2021 Receivable Payable Receivable Payable Current portion: Joint operations Consorcio Rio Urubamba 9,357 - 9,792 - Consorcio Inti Punku - 6,556 1,865 1,733 Consorcio GyM Conciviles 1,341 1,472 1,479 1,074 Consorcio Italo Peruano 1,520 217 1,394 106 Consorcio Manperan 1,057 656 1,389 4,968 Consorcio Ermitaño 890 474 1,028 515 Consorcio Peruano de Conservacion 3,156 - 654 2,392 Consorcio Norte Pachacutec 1,077 1,192 125 282 Terminales del Peru 501 161 92 399 Consorcio Constructor Chavimochic - 6,208 - 9,301 Consorcio Rio Mantaro - 7,655 - 7,043 Consorcio Vial Quinua - 2,051 - 1,947 Consorcio Chicama Ascope 2,922 - - - Consorcio CDEM 1,111 - - 1,545 Consorcio GyM-Stracon - 644 - 143 Consorcio TNT Vial y Vives - DSD Chile Ltda - 1,015 - 633 Others 2,446 1,701 288 1,803 25,378 30,002 18,106 33,884 Other related parties Ferrovias S.A. - 11,139 - 15,513 Peru Piping Spools S.A.C. 1,960 2,677 2,711 1,607 1,960 13,816 2,711 17,120 Current portion 27,338 43,818 20,817 51,004 Non-current portion Gasoducto Sur Peruano S.A. 620,071 - 643,897 - Ferrovias S.A. - 12,862 - 14,690 Ferrovias Participaciones S.A. - 23,435 - 36,022 Non-current 620,071 36,297 643,897 50,712 |
Other Accounts Receivable (Tabl
Other Accounts Receivable (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Other Accounts Receivable [Abstract] | |
Schedule of account comprises | Total Current Non-current 2020 2021 2020 2021 2020 2021 Advances to suppliers (a) 76,200 33,769 76,200 33,769 - - Income tax on-account payments (b) 48,052 44,072 48,052 44,072 - - VAT credit (c) 54,076 47,295 43,498 38,924 10,578 8,371 Guarantee deposits (d) 204,474 199,132 143,156 185,334 61,318 13,798 Claims to third parties (e) 196,744 215,943 92,927 186,065 103,817 29,878 Petroleos del Peru S.A.- Petroperu S.A. (f) 87,826 106,077 17,132 19,262 70,694 86,815 ITAN and other tax receivable 63,003 48,378 30,468 17,302 32,535 31,076 Restricted funds (g) 29,121 7,346 2,092 - 27,029 7,346 Rental and sale of equipment - Cumbra Peru S.A. projects 29,149 32,827 29,149 32,827 - - Accounts receivable from personneel 10,957 16,963 10,957 16,963 - - Consorcio Panorama (h) 25,026 27,193 - - 25,026 27,193 Other minors 10,388 38,993 9,738 38,854 650 139 835,016 817,987 503,369 613,371 331,647 204,616 Impairment (i) (102,050 ) (129,569 ) (98,626 ) (126,313 ) (3,424 ) (3,256 ) 732,966 688,418 404,743 487,058 328,223 201,360 |
Schedule of advance to suppliers | 2020 2021 Advances - joint operations vendors 36,803 12,547 Alstom Transporte - Linea 1 5,786 3,691 Advances - Talara Refinery 6,951 2,404 Others 26,660 15,127 76,200 33,769 |
Schedule of income tax pre-payments, consist of income tax payments | 2020 2021 Cumbra Peru S.A. 35,599 25,539 Tren Urbano de Lima S.A. - 9,990 Cumbra Ingenieria S.A. 3,532 4,331 AENZA S.A.A. 1,348 1,129 Unna Energia S.A. 1,883 932 Unna Transporte S.A.C. 3,340 844 Qualys S.A. 559 502 Carretera Andina del Sur S.A.C. 141 370 Viva Negocio Inmobiliario S.A. 1,351 47 Others 299 388 48,052 44,072 |
Schedule of tax credit related to VAT | Total Current Non-current 2020 2021 2020 2021 2020 2021 Cumbra Peru S.A. 12,868 12,737 12,868 12,737 - - Via Expresa Sur S.A. (*) 6,222 6,256 6,222 6,256 - - Viva Negocio Inmobiliario S.A. 8,111 6,110 953 514 7,158 5,596 Unna Transporte S.A.C. 1,527 5,333 1,527 5,333 - - Tren Urbano de Lima S.A. 3,335 4,266 3,335 4,266 - - AENZA S.A.A. 648 3,715 648 3,715 - - Cumbra Ingenieria S.A. 13,754 1,947 13,754 1,947 - - Unna Energia S.A. 678 1,911 678 1,911 - - Carretera Andina del Sur S.A.C. 2,631 1,475 2,631 1,475 - - Others 4,302 3,545 882 770 3,420 2,775 54,076 47,295 43,498 38,924 10,578 8,371 |
Schedule of deposits are retained by customers | Total Current Non-current 2020 2021 2020 2021 2020 2021 Vial y Vives - DSD S.A. - Minera Teck 64,175 79,126 64,175 79,126 - - Talara Refinery 58,831 59,651 812 49,222 58,019 10,429 Concentrator Plant and tunnel of Quellaveco 23,699 12,133 23,699 12,133 - - Morelco S.A.S. - Engineering and Construction Works 14,108 6,617 14,108 6,617 - - Joint operations retention 16,825 3,245 16,825 3,245 - - Others 26,836 38,360 23,537 34,991 3,299 3,369 204,474 199,132 143,156 185,334 61,318 13,798 |
Schedule of third-party claims – corresponds | Total Current Non-current 2020 2021 2020 2021 2020 2021 Tecnicas Reunidas - Talara (e.1) 53,635 63,809 - 63,809 53,635 - Municipalidad Metropolitana de Lima (e.2) 49,625 49,632 49,625 49,632 - - Ministerio de Vivienda and Fondo Mi Vivienda 21,816 23,953 - - 21,816 23,953 Accounts receivable from joint venture 45,040 59,917 22,505 59,917 22,535 - Others 26,628 18,632 20,797 12,707 5,831 5,925 196,744 215,943 92,927 186,065 103,817 29,878 |
Schedule of movement in impairment of other receivables | Total Tax credit Guaranties Retention Claims to third parties At January 1, 2019 (25,567 ) - - (25,567 ) Impairment of Sucursal Colombia (Note 26.iii) (3,283 ) - - (3,283 ) Impairment of Unna Transporte S.A.C. (Note 26.iii) (1,457 ) - - (1,457 ) Impairment of Cumbra Peru S.A. (Note 26.iii) (937 ) - - (937 ) Impairment of other minors (Note 26.iii) (27 ) - - (27 ) Reversal of impairment 32 - - 32 Exchange difference 387 - - 387 Translations adjustments 154 - 165 (11 ) At December 31, 2019 (30,698 ) - 165 (30,863 ) At January 1, 2020 (30,698 ) - 165 (30,863 ) Impairment of Unna Transporte S.A.C. (Note 26.iii) (11,431 ) - - (11,431 ) Impairment of Cumbra Peru S.A. (Note 26.iii) (828 ) - - (828 ) Impairment of other minors (Note 26.iii) (59 ) - - (59 ) Impairment of Cam Holding S.P.A. (Note 28.c) (12,511 ) - (12,511 ) - Impairment of Concesionaria Via Expresa Sur S.A. (Note 28.b) (55,847 ) (6,222 ) - (49,625 ) Impairment of other minors (Note 28.b) (513 ) - - (513 ) Write-off 12,205 - 12,530 (325 ) Exchange difference (2,188 ) - - (2,188 ) Translations adjustments (180 ) - (184 ) 4 At December 31, 2020 (102,050 ) (6,222 ) - (95,828 ) At January 1, 2021 (102,050 ) (6,222 ) - (95,828 ) Impairment of Unna Transporte S.A.C. (Note 26.iii) (227 ) - - (227 ) Impairment of Cumbra Peru S.A. (Note 26.iii) (964 ) - - (964 ) Impairment of other minors (Note 26.iii) (114 ) - - (114 ) Impairment of AENZA S.A.A. (Note 28.c) (19,967 ) - - (19,967 ) Impairment of other minors (34 ) - - (34 ) Reversal of impairment (Note 26.iii) 128 - - 128 Write-off 986 - - 986 Exchange difference (2,400 ) - - (2,400 ) Translations adjustments (4,927 ) - - (4,927 ) At December 31, 2021 (129,569 ) (6,222 ) - (123,347 ) |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of inventories [text block] [Abstract] | |
Schedule of Inventories | 2020 2021 Land 176,927 175,087 Work in progress - Real estate 164,514 117,341 Finished properties 78,048 75,085 Construction materials 58,621 49,403 Merchandise and supplies 80,142 80,051 558,252 496,967 Impairment of inventories (6,252 ) (8,641 ) 552,000 488,326 |
Schedule of land includes properties for the development | 2020 2021 Lurin (a) 81,493 84,648 San Isidro (b) 51,626 51,850 Nuevo Chimbote (c) 17,616 18,624 Barranco (d) 14,432 14,640 Piura (e) 11,760 5,325 176,927 175,087 |
Schedule of real state work in progress | 2020 2021 Los Parques de Comas 66,114 63,213 Los Parques del Callao 26,613 27,235 Los Parques del Mar 44,683 20,044 Los Parques de Carabayllo III 10,266 - Los Parques de Piura 9,514 - Inmobiliaria Pezet 417 S.A.C. 4,459 - Others 2,865 6,849 164,514 117,341 |
Schedule of finished properties | 2020 2021 Los Parques de Comas 32,098 27,185 Los Parques de Carabayllo III 8,518 14,757 Los Parques del Mar - 13,885 Huancayo 13,033 7,918 Strip Callao 6,286 6,286 Los Parques de Callao 14,479 2,441 Los Parques de Piura 1,034 430 El Nuevo Rancho 1,284 - Others 1,316 2,183 78,048 75,085 |
Investments in Associates and_2
Investments in Associates and Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of joint ventures [text block] [Abstract] | |
Schedule of investments in associates and joint ventures | 2020 2021 Associates 27,246 22,047 Joint ventures 8,270 9,126 35,516 31,173 2019 2020 2021 Associates (220,993 ) (1,635 ) (3,693 ) Joint ventures 2,219 2,405 2,832 (218,774 ) 770 (861 ) |
Schedule of investments in associates | Carrying amount Class Interest in capital At December 31, Entity of share 2020 2021 2020 2021 % % Gasoducto del Peru S.A. ( * ) Common - - - - Concesionaria Chavimochic S.A.C. Common 26.50 26.50 18,058 16,295 Obratres S.A.C. Common 37.50 37.50 3,812 3,400 Inversiones Maje S.A.C. Common 9.59 9.59 2,283 2,043 Peru Piping Spools S.A.C. Common 33.33 33.33 2,760 - Otros Common 333 309 27,246 22,047 |
Schedule of movement of the investments in associates | 2019 2020 2021 Opening balance 250,282 28,875 27,246 Dividends received - - (1,483 ) Equity interest in results (220,993 ) (1,635 ) (3,693 ) Impairment of investment (374 ) (38 ) - Conversion adjustment (40 ) 44 (23 ) Final balance 28,875 27,246 22,047 |
Schedule of Summarized financial information for associates | Concesionaria Chavimochic S.A.C. At December, 31 Entity 2020 2021 Current Assets 58,814 64,161 Liabilities (4,795 ) (3,450 ) Non-current Assets 11,635 10,864 Liabilities - (10,085 ) Net assets 65,654 61,490 Administrative expenses (4,521 ) (7,641 ) Loss operative (4,521 ) (7,641 ) Others 3,534 4,153 Loss of the year (987 ) (3,488 ) Total comprehensive loss (987 ) (3,488 ) |
Schedule of investments joint ventures | Carrying amount Class Interest in capital At December 31, Entity of share 2020 2021 2020 2021 % % Logistica Quimicos del Sur S.A.C. Common 50.00 50.00 8,080 8,951 Constructora SK-VyV Ltda. Common 50.00 50.00 34 31 Others - - 156 144 8,270 9,126 |
Schedule of movement of the investments in joint ventures | 2019 2020 2021 Opening balance 7,483 8,160 8,270 Equity interest in results 2,219 2,405 2,832 Dividends received (1,517 ) (2,318 ) (1,962 ) Conversion adjustment (14 ) 23 (14 ) Impairment of investment (11 ) - - Final balance 8,160 8,270 9,126 |
Schedule of financial information for joint ventures | At December, 31 Logistica Quimicos del Sur S.A.C. 2020 2021 Current Cash and cash equivalents 2,710 3,096 Other current assets 3,324 2,068 Total current assets 6,034 5,164 Other current liabilities (6,108 ) (3,899 ) Total current liabilities (6,108 ) (3,899 ) Non-current Total non-current assets 35,715 34,027 Total non-current liabilities (19,484 ) (17,392 ) Net assets 16,157 17,900 Revenue 13,351 14,847 Depreciation and amortization (2,394 ) (2,400 ) Interest expense (508 ) (366 ) Profit from continuing operations 6,854 8,140 Income tax expense (2,072 ) (2,473 ) Profit from continuing operations 4,782 5,667 Total comprehensive income 4,782 5,667 |
Investment Property, Property_2
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of property, plant and equipment [text block] [Abstract] | |
Schedule of property, plant and equipment accounts and its related accumulated depreciation | Land Buildings Buildings Total At January 1, 2019 Cost 2,220 41,993 46 44,259 Accumulated depreciation and impairment - (15,126 ) - (15,126 ) Net carrying amount 2,220 26,867 46 29,133 Net initial carrying amount - At January 1, 2019 2,220 26,867 46 29,133 Additions - 14 74 88 Depreciation charge - (2,356 ) - (2,356 ) Transfers (b) 273 1,187 - 1,460 Reclassifications - 108 (108 ) - Translations adjustments 1 - - 1 Net final carrying amount - At December 31, 2019 2,494 25,820 12 28,326 At January 1, 2020 Cost 2,494 43,302 12 45,808 Accumulated depreciation and impairment - (17,482 ) - (17,482 ) Net carrying amount 2,494 25,820 12 28,326 Net initial carrying amount - At January 1, 2020 2,494 25,820 12 28,326 Additions - 58 40 98 Depreciation charge - (2,413 ) - (2,413 ) Reclassifications - 32 (32 ) - Translations adjustments 11 51 - 62 Net final carrying amount - At December 31, 2020 2,505 23,548 20 26,073 At December 31, 2020 Cost 2,505 43,443 20 45,968 Accumulated depreciation and impairment - (19,895 ) - (19,895 ) Net carrying amount 2,505 23,548 20 26,073 Net initial carrying amount - At January 1, 2021 2,505 23,548 20 26,073 Additions - 28 124 152 Depreciation charge - (4,316 ) - (4,316 ) Transfers (b) 10,692 30,458 - 41,150 Reclassifications - 123 (123 ) - Translations adjustments (9 ) (39 ) - (48 ) Net final carrying amount - At December 31, 2021 13,188 49,802 21 63,011 At December 31, 2021 Cost 13,188 74,013 21 87,222 Accumulated depreciation and impairment - (24,211 ) - (24,211 ) Net carrying amount 13,188 49,802 21 63,011 |
Schedule of Depreciation of investment property | 2019 2020 2021 Cost of services and goods (Note 26. ii) 2,356 2,413 4,316 |
Schedule of property, plant and equipment accounts and its related accumulated depreciation | Furniture Replacement and Other and in-transit Work in Land Buildings Machinery Vehicles fixtures equipment units progress 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 ) Sale of assets, net - - (3,365 ) (4,299 ) (47 ) (72 ) (9 ) - (7,792 ) 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 Furniture Replacement and Other and in-transit Work in Land Buildings Machinery Vehicles fixtures equipment units progress 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 ) Sale of assets, net (ii) - (134 ) (753 ) (5,926 ) (28 ) (20 ) - - (6,861 ) Disposals, net (9,895 ) (2,014 ) (237 ) (94 ) (140 ) 6 - - (12,374 ) Impairment loss - (161 ) (5,069 ) (17 ) 33 - - - (5,214 ) Transfers - - - - - 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 Furniture Replacement and Other and in-transit Work in Land Buildings Machinery Vehicles fixtures equipment units progress Total At January 1, 2021 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 Net initial carrying amount 10,606 81,200 257,237 16,724 7,937 15,476 11,946 4,343 405,469 Additions (i) 85 131 15,786 519 661 5,175 2,572 13,262 38,191 Depreciation charge - (5,455 ) (49,753 ) (4,561 ) (1,335 ) (9,676 ) - - (70,780 ) Sale of assets, net (ii) - (10 ) (4,361 ) (1,143 ) (31 ) (139 ) - - (5,684 ) Disposals, net - (647 ) (610 ) (111 ) (127 ) (22 ) - - (1,517 ) Impairment loss - - (8,055 ) - - - (33 ) - (8,088 ) Transfers (iii) (10,692 ) (30,458 ) 120 14 - - - (218 ) (41,234 ) Deconsolidation, net (iv) - (3,418 ) - (14 ) (199 ) (4,304 ) - - (7,935 ) Reclassifications 10,198 (6,515 ) 13,444 918 (2 ) 484 (2,645 ) (15,882 ) - Translations adjustments (479 ) (655 ) (3,058 ) (528 ) (53 ) (479 ) - - (5,252 ) Net final carrying amount 9,718 34,173 220,750 11,818 6,851 6,515 11,840 1,505 303,170 At December 31, 2021 Cost 9,718 72,405 849,980 219,105 33,614 57,707 11,850 1,505 1,255,884 Accumulated depreciation and impairment - (38,232 ) (629,230 ) (207,287 ) (26,763 ) (51,192 ) (10 ) - (952,714 ) Net carrying amount 9,718 34,173 220,750 11,818 6,851 6,515 11,840 1,505 303,170 |
Schedule of Depreciation of property, plant and equipment and investment property | 2019 2020 2021 Cost of services and goods (Note 26.ii) 70,368 66,479 60,230 Administrative expenses (Note 26.ii) 1,670 5,432 4,610 Depreciation discontinued operations 8,528 6,649 5,940 80,566 78,560 70,780 |
Schedule of net carrying amount of machinery and equipment, vehicles and furniture and fixtures acquired under finance lease contracts | 2019 2020 2021 Cost of acquisition 68,553 64,623 64,640 Accumulated depreciation (46,773 ) (52,165 ) (53,321 ) Net carrying amount 21,780 12,458 11,319 |
Schedule of 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 charge (13,568 ) (6,899 ) (8,929 ) (29,396 ) Translations adjustments 271 - - 271 Net final carrying amount 66,982 11,698 11,901 90,581 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 Net initial carrying amount - At January 1, 2020 66,982 11,698 11,901 90,581 Additions 6,681 876 4,518 12,075 Depreciation charge (13,211 ) (5,834 ) 1,514 (17,531 ) Disposals, net (10,463 ) - (11,078 ) (21,541 ) Translations adjustments 880 - 54 934 Net final carrying amount - At December 31, 2020 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 Net initial carrying amount - At January 1, 2021 50,869 6,740 6,909 64,518 Additions 8,260 317 5,354 13,931 Depreciation charge (12,589 ) (5,355 ) (5,755 ) (23,699 ) Deconsolidation, net (6,416 ) - (216 ) (6,632 ) Reclassifications - 1,356 (1,356 ) - Translations adjustments (352 ) - (49 ) (401 ) Net final carrying amount - At December 31, 2021 39,772 3,058 4,887 47,717 At December 31, 2021 Cost 61,596 19,671 17,124 98,391 Accumulated depreciation (21,824 ) (16,613 ) (12,237 ) (50,674 ) Net carrying amount 39,772 3,058 4,887 47,717 |
Schedule of expense for depreciation of right-of-use assets | 2019 2020 2021 Cost of services and goods (Note 26.ii) 22,721 10,840 17,517 Administrative expenses (Note 26.ii) 237 961 815 Depreciation discontinued operations 6,438 5,730 5,367 29,396 17,531 23,699 |
Schedule of total depreciation is composed | 2019 2020 2021 Depreciation of property, plant and equipment (Note 16.2) 80,566 78,560 70,780 Depreciation related to right-of-use assets (Note 16.3) 29,396 17,531 23,699 Depreciation related to investment property (Note 16.1) 2,356 2,413 4,316 112,318 98,504 98,795 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of intangible assets [text block] [Abstract] | |
Schedule of movement of intangible assets and that of their related accumulated amortization | Contractual Software and Costs of Land Trade- Concession relations development development use Other Goodwill marks rights with clients costs of wells rights assets 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 Contractual Software and Costs of Land Trade- Concession relations development development use Other Goodwill marks rights with clients costs of wells rights assets 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 Contractual Software and Costs of Land Trade- Concession relations development development use Other Goodwill marks rights with clients costs of wells rights assets Total At January 1, 2021 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 Net initial cost 58,946 78,421 371,797 523 16,595 195,001 10,820 59,887 791,990 Additions - - 6,185 - 10,312 45,518 - 5,726 67,741 Capitalization of interest expenses - - - - - - - 609 609 Derecognition - net - - (862 ) - (1,825 ) (2 ) - - (2,689 ) Amortization - - (54,304 ) - (7,269 ) (40,501 ) - (4,438 ) (106,512 ) Subsidiary deconsolidation - - - - (751 ) - - - (751 ) Translations adjustments (1,866 ) (4,984 ) - (26 ) (121 ) - - - (6,997 ) Net final cost 57,080 73,437 322,816 497 16,941 200,016 10,820 61,784 743,391 At December 31, 2021 Cost 93,600 76,578 694,809 74,155 45,239 328,907 13,288 126,980 1,453,556 Accumulated amortization and impairment (36,520 ) (3,141 ) (371,993 ) (73,658 ) (28,298 ) (128,891 ) (2,468 ) (65,196 ) (710,165 ) Net cost 57,080 73,437 322,816 497 16,941 200,016 10,820 61,784 743,391 |
Schedule of goodwill allocated to cash-generating units | 2019 2020 2021 Engineering and construction 36,632 38,211 36,345 Electromechanical 20,735 20,735 20,735 57,367 58,946 57,080 |
Schedule of major assumptions used by the group in determining the fair value less cost of disposal | Engineering and Electro- construction mechanical % % 2019 Gross margin 12.43 % 8.86 % Terminal growth rate 3.00 % 2.00 % Discount rate 11.83 % 11.40 % 2020 Gross margin 12.50 % 9.36 % Terminal growth rate 3.00 % 2.00 % Discount rate 11.06 % 11.77 % 2021 Gross margin 11.10 % 9.04 % Terminal growth rate 3.30 % - Discount rate 11.97 % 13.28 % Engineering and construction Morelco Vial y Vives - DSD % % 2019 Average revenue growth rate 5.70 % 19.58 % Terminal growth rate 3.00 % 2.00 % Discount rate 11.83 % 14.12 % 2020 Average revenue growth rate 7.60 % 5.00 % Terminal growth rate 3.00 % 2.10 % Discount rate 11.06 % 13.16 % 2021 Average revenue growth rate 23.16 % 5.00 % Terminal growth rate 3.30 % 3.00 % Discount rate 11.97 % 17.60 % |
Schedule of detailed information about concessions | 2020 2021 EPC Contract 54,506 46,719 Construction of the second tranch of the “Ancon-Huacho-Pativilca” highway 3,406 2,919 Road improvement 12,922 11,795 Implementation for road safety 9,034 10,179 Work capitalization of second roadway 280,326 240,279 Disbursements for land adquisition 4,510 4,883 Other intangible assets contracted for the delivery process 5,026 5,118 Total Red Vial 5 S.A. 369,730 321,892 Other concessions 2,067 924 371,797 322,816 |
Schedule of amortization of intangibles | 2019 2020 2021 Cost of sales and services (Note 26) 99,589 93,135 101,578 Administrative expenses (Note 26) 5,689 4,138 3,642 (+) Amortization discontinued operations 2,221 1,348 1,292 107,499 98,621 106,512 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of borrowings [text block] [Abstract] | |
Schedule of borrowings item | Total Current Non-current 2020 2021 2020 2021 2020 2021 Bank loans (a) 571,659 343,679 409,272 217,935 162,387 125,744 Finance leases (b) 52,391 9,836 13,635 5,118 38,756 4,718 Lease liability for right-of-use asset (c) 72,726 60,507 19,950 14,541 52,776 45,966 Other financial entities (d) 201,544 165,878 10,027 3,746 191,517 162,132 898,320 579,900 452,884 241,340 445,436 338,560 |
Schedule of bank loan | Interest Date of Current Non-current rate maturity 2020 2021 2020 2021 Cumbra Peru S.A. (i-iv) 0.90% / 8.50% 2025 222,924 129,905 19,977 4,526 Unna Energia S.A.(ii) 6.04% / 7.68% 2027 24,950 23,351 99,474 120,635 Viva Negocio Inmobiliario S.A. (v) 7.00% / 11.00% 2023 90,197 64,679 3,318 583 AENZA S.A.A. (iii) 9.10% / 10.10% 2021 51,977 - 39,618 - Adexus S.A. (Note 36) 0.50% / 1.15% 2021 19,224 - - - 409,272 217,935 162,387 125,744 |
Schedule of finance lease obligations | Interest Date of Current Non-current rate maturity 2020 2021 2020 2021 Viva Negocio Inmobiliario S.A. 7.79% / 9.04 2024 4,617 2,754 4,357 3,924 Cumbra Peru S.A. 4.80% / 7.67 2023 2,021 2,318 2,823 794 Unna Energia S.A. 6.28% 2022 149 46 19 - Adexus S.A. (Note 36) 0.23% / 0.51 2027 6,848 - 31,557 - 13,635 5,118 38,756 4,718 |
Schedule of minimum payment by maturity and present value of finance lease obligations | 2020 2021 Up to 1 year 16,287 5,624 From 1 to 5 years 35,770 4,909 Over 5 years 8,515 - 60,572 10,533 Future financial charges (8,181 ) (697 ) Present value of the obligations for finance lease contracts 52,391 9,836 |
Schedule of present value of finance lease obligations | 2020 2021 Up to 1 year 13,635 5,118 From 1 year to 5 years 30,635 4,718 Over 5 years 8,121 - 52,391 9,836 |
Schedule of lease liability for right-of-use asset | Interest Date of Current Non-current rate maturity 2020 2021 2020 2021 AENZA S.A.A. 7.88% 2027 6,534 8,075 41,403 43,112 Unna Energía S.A. 7.10% 2024 6,765 2,831 2,926 1,058 UNNA Transporte S.A.C. 5.40% / 7.50 2024 2,047 2,782 1,925 1,721 Cumbra Peru S.A. 6.95% 2023 852 423 426 - Cumbra Ingenieria S.A. 6.95% / 7.40 2023 302 367 381 60 Tren Urbano de Lima S.A. 10.00% 2023 42 45 59 15 Adexus S.A. (Note 36) 0.25% / 0.50 2025 3,408 - 5,656 - Other minors 4.50% 2022 - 18 - - 19,950 14,541 52,776 45,966 |
Schedule of minimum payment by maturity and the present value of the lease liability for right-of-use asset obligations | 2020 2021 Up to 1 year 24,714 18,817 From 1 to 5 years 51,853 46,288 Over 5 years 11,131 8,086 87,698 73,191 Future financial charges (14,972 ) (12,684 ) Present value of the lease liability for right-of-use asset obligations 72,726 60,507 |
Schedule of present value of lease liability for right-of-use asset | 2020 2021 Up to 1 year 19,950 14,541 From 1 year to 5 years 42,641 38,136 Over 5 years 10,135 7,830 72,726 60,507 |
Schedule of carrying amount and fair value of borrowings | Carrying amount Fair value 2020 2021 2020 2021 Bank loans 571,659 343,679 589,737 372,270 Finance leases 52,391 9,836 54,343 9,097 Lease liability for right-of-use asset 72,726 60,507 88,779 66,943 Other financial entities 201,544 165,878 247,857 165,878 898,320 579,900 980,716 614,188 |
Bonds (Tables)
Bonds (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about borrowings [text block] [Abstract] | |
Schedule of bonds issued summary | Total Current Non-current 2020 2021 2020 2021 2020 2021 Tren Urbano de Lima S.A. (a) 624,454 626,697 21,081 24,496 603,373 602,201 Red Vial 5 S.A. (b) 280,848 251,933 32,819 36,637 248,029 215,296 AENZA S.A.A. (c) - 356,010 - 3,809 - 352,201 Cumbra Peru S.A. (d) 27,457 26,282 4,546 4,896 22,911 21,386 932,759 1,260,922 58,446 69,838 874,313 1,191,084 |
Schedule of bonds | 2019 2020 2021 Balance at January, 1 611,660 618,497 624,454 Amortization (11,330 ) (11,582 ) (16,376 ) Accrued interest 48,253 47,615 49,013 Interest paid (30,086 ) (30,076 ) (30,394 ) Balance at December, 31 618,497 624,454 626,697 2019 2020 2021 Balance at January, 1 325,382 305,545 280,848 Amortization (20,005 ) (24,820 ) (28,836 ) Accrued interest 23,482 24,619 22,315 Capitalized interest 2,725 - - Interest paid (26,039 ) (24,496 ) (22,394 ) Balance at December, 31 305,545 280,848 251,933 2020 2021 Balance at January, 1 - 27,457 Additions 25,871 - Amortization (1,579 ) (3,687 ) Exchange difference 2,153 2,561 Accrued interest 2,152 2,219 Interest paid (1,140 ) (2,268 ) Balance at December, 31 27,457 26,282 |
Trade Accounts Payable (Tables)
Trade Accounts Payable (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Trade Accounts Payables Explanatory [Abstract] | |
Schedule of trade accounts payables | Total Current Non-current 2020 2021 2020 2021 2020 2021 Invoices payable (a) 454,174 506,798 454,174 506,798 - - Provision of contract costs (b) 642,492 468,360 601,990 468,360 40,502 - Notes payable 8,252 5,609 8,252 5,609 - - 1,104,918 980,767 1,064,416 980,767 40,502 - (a) Invoices payable are obligations accredited with formal documents. The following are the invoices payable according to main projects: b) Provisions for contract costs correspond to the measurement by the degree of progress of the projects. Below are the balances of the main projects: |
Schedule of invoices payable | 2020 2021 Infrastructure Linea 1 - Metro de Lima 18,992 15,616 Operation and maintenance - Roads 20,194 17,372 39,186 32,988 Energy 33,085 43,501 Engineering and Construction Cumbra Peru S.A. - Talara Refinery 96,051 109,930 Vial y Vives - DSD S.A. - Engineering and Construction Works 70,987 73,188 Cumbra Peru S.A. - Concentrator Plant and tunnel of Quellaveco 55,107 71,324 Cumbra Peru S.A. - Jorge Chavez Airport 1,397 55,596 Morelco S.A.S. - Engineering and Construction Works 17,616 22,629 Cumbra Peru S.A. - Gasoducto Piura Project 172 11,167 Cumbra Peru S.A. - Generating Plant Machu Picchu 3,488 3,832 Cumbra Ingenieria S.A. - Project Mina Gold Fields La Cima S.A. 10,353 3,810 Cumbra Peru S.A. - Desilting of the Chicama River 4,257 2,974 Cumbra Peru S.A. - Cerro del Águila Hydroelectric Power Plant 822 2,199 Cumbra Peru S.A. - Civil Works, Assembly and Electromechanics - Acero Arequipa 2,428 28 Cumbra Ingenieria S.A. - Mina Justa Project 14,190 14 Others 38,907 40,955 315,775 397,646 Real Estate 18,056 9,769 Parent Company Operation 48,072 22,894 454,174 506,798 |
Schedule of provisions for contract costs correspond to measurement by the projects | 2020 2021 Infrastructure Linea 1 - Metro de Lima 13,645 15,021 Operation and maintenance - Roads 31,027 27,303 44,672 42,324 Energy 18,140 24,185 Engineering and Construction Cumbra Peru S.A. - Concentrator Plant and tunnel of Quellaveco 42,822 86,562 Vial y Vives - DSD S.A. - Engineering and Construction Works 106,186 74,912 Cumbra Peru S.A. - Talara Refinery 204,102 54,513 Cumbra Peru S.A. - Gasoducto Piura Project 599 43,401 Morelco S.A.S. - Engineering and Construction Works 84,513 25,434 Cumbra Peru S.A. - Jorge Chavez Airport 1,083 25,093 Cumbra Ingenieria S.A. - Project Mina Gold Fields La Cima S.A. 12,670 9,135 Cumbra Peru S.A. - Project Via Expresa Linea Amarilla 5,359 6,545 Cumbra Peru S.A. - Generating Plant Machu Picchu 1,222 2,348 Cumbra Peru S.A. - Civil Works, Assembly and Electromechanics - Acero Arequipa 5,222 1,556 Cumbra Ingenieria S.A. - Improvement and expansion - INEN 2,036 1,465 Cumbra Peru S.A. - Works and Consortiums 1,951 804 Cumbra Ingenieria S.A. - Mina Justa Project 33,525 98 Others 6,847 33,354 508,137 365,220 Real estate 24,509 20,632 Parent Company Operation 47,034 15,999 642,492 468,360 |
Other Accounts Payable (Tables)
Other Accounts Payable (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of trade and other payables [text block] [Abstract] | |
Schedule of Other Accounts Payable | Total Current Non-current 2020 2021 2020 2021 2020 2021 Advances received from customers (a) 280,970 322,680 249,870 315,644 31,100 7,036 Consorcio Ductos del Sur - payable (b) 88,206 77,665 28,836 29,242 59,370 48,423 Salaries and other payable 77,386 126,466 77,386 126,466 - - Put option liability on Morelco acquisition (c) 118,622 27,986 79,096 27,986 39,526 - Third-party loans 11,608 2,076 9,533 - 2,075 2,076 Other taxes payable 115,862 124,497 102,240 112,737 13,622 11,760 Acquisition of additional non-controlling interest (Note 35) 27,596 25,253 27,596 25,253 - - Guarantee deposits 23,744 26,017 23,744 26,017 - - Consorcio Rio Mantaro - payables 75,059 58,502 75,059 58,502 - - Provision of interest for debt with suppliers 16,425 3,056 - 285 16,425 2,771 Share purchase agreement - Inversiones Sur 14,496 15,992 - - 14,496 15,992 Other accounts payables 39,974 37,160 33,356 32,849 6,618 4,311 889,948 847,350 706,716 754,981 183,232 92,369 |
Schedule of advances received from customers relate mainly to construction projects | Total Current Non-current 2020 2021 2020 2021 2020 2021 Customer advances from Consortiums 55,020 27,568 55,020 27,568 - - Customer advances for real estate projects 78,286 80,188 78,286 80,188 - - Cumbra Peru S.A. - Concentrator Plant and tunnel of Quellaveco 86,415 10,841 71,571 10,841 14,844 - Special National Transportation Infrastructure Project 24,050 19,582 13,781 12,765 10,269 6,817 Vial y Vives - DSD S.A. - Quebrada Blanca Project - 120,642 - 120,642 - - Vial y Vives - DSD S.A. - Modernization and expansion of Arauco - 52,063 - 52,063 - - Cumbra Peru S.A. - Piura Pipeline Project 31,048 5,745 25,292 5,745 5,756 - Others 6,151 6,051 5,920 5,832 231 219 280,970 322,680 249,870 315,644 31,100 7,036 |
Other Provisions (Tables)
Other Provisions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of other provisions [text block] [Abstract] | |
Schedule of other provisions | Total Current Non-current 2020 2021 2020 2021 2020 2021 Legal claims (a) 326,868 364,385 78,627 117,520 248,241 246,865 Tax claims 8,176 37,466 3,293 16,776 4,883 20,690 Provision for well closure (b) 52,949 82,475 10,837 20,533 42,112 61,942 387,993 484,326 92,757 154,829 295,236 329,497 |
Schedule of account movement in other provisions | Contingent liabilities resulting Provision Legal Tax from for well claims claims acquisitions closure Total At January 1, 2019 81,052 3,676 4,498 20,382 109,608 Additions 190,610 7,111 - 30,998 228,719 Reversals of provisions (3,122 ) - (4,349 ) - (7,471 ) Compensation (i) (45,940 ) - - - (45,940 ) Payments (914 ) - - (1,264 ) (2,178 ) Translation adjustments / Exchange difference (94 ) - (149 ) - (243 ) At December 31, 2019 221,592 10,787 - 50,116 282,495 At January 1, 2020 221,592 10,787 - 50,116 282,495 Additions 121,404 3,161 - 2,450 127,015 Present value 3,604 - - 2,182 5,786 Reversals of provisions (30,806 ) (2,458 ) - - (33,264 ) Transfers 1,540 - - - 1,540 Compensation (i) 4,106 - - - 4,106 Payments (3,938 ) (3,314 ) - (1,799 ) (9,051 ) Translation adjustments / Exchange difference 9,366 - - - 9,366 At December 31, 2020 326,868 8,176 - 52,949 387,993 At January 1, 2021 326,868 8,176 - 52,949 387,993 Additions 59,109 30,505 - 10,815 100,429 Present value 19,627 - - 9,780 29,407 Reversals of provisions (13,027 ) - - (2,957 ) (15,984 ) Transfers 466 (299 ) - 716 883 Reclasification (3,335 ) - - 3,335 - Compensation (i) (8,541 ) - - - (8,541 ) Desconsolidation of subsidiary (1,657 ) - - - (1,657 ) Payments (26,863 ) (916 ) - (185 ) (27,964 ) Translation adjustments / Exchange difference 11,738 - - 8,022 19,760 At December 31, 2021 364,385 37,466 - 82,475 484,326 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of share capital, reserves and other equity interest [text block] [Abstract] | |
Schedule of the Company's shareholding structure | Total Percentage of individual Number of percentage of interest in outstanding capital shareholders interest Up to 1.00 1,561 7.32 % From 1.01 to 5.00 12 25.42 % From 5.01 to 10.00 5 39.29 % Over 10 2 27.97 % 1,580 100.00 % |
Deferred Income Tax (Tables)
Deferred Income Tax (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Description of accounting policy for deferred income tax [text block] [Abstract] | |
Schedule of Deferred Income Tax | 2020 2021 Deferred income tax asset: Reversal expected in the following twelve months 44,780 44,037 Reversal expected after twelve months 217,385 231,039 Total deferred tax asset 262,165 275,076 Deferred income tax liability: Reversal expected in the following twelve months (1,261 ) 1,424 Reversal expected after twelve months (101,646 ) (98,791 ) Total deferred tax liability (102,907 ) (97,367 ) Deferred income tax asset, net 159,258 177,709 |
Schedule of movement of the deferred income tax | 2019 2020 2021 Opening balance 365,263 158,985 159,258 Debit (credit) to income statement (Note 29) (206,894 ) (9,652 ) 64,021 Discontinued operations 14,469 9,886 (40,686 ) Other movements (13,853 ) 39 (4,884 ) Final balance 158,985 159,258 177,709 |
Schedule of movement in deferred tax assets and liabilities | Difference in Work Borrowing Deferred income depreciation Deferred in Tax costs tax liabilities rates income process receivable capitalized PPA Others Total At January 1, 2019 81,553 13,574 5,456 32,878 15,716 (1,562 ) 20,745 168,360 (Debit) credit to P&L 10,109 11,126 33,403 3,312 (780 ) 11,385 18,821 87,376 Discontinued operations (172 ) (555 ) - - - - - (727 ) 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 (1,831 ) (8,239 ) (16,740 ) 2,836 172 357 (18,381 ) (41,826 ) Discontinued operations (2,734 ) - - - - - (510 ) (3,244 ) 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 (Debit) credit to P&L (10,668 ) (15,906 ) 30,439 3,028 (2,780 ) 12,476 (21,417 ) (4,828 ) Sale of a subsidiary (3,836 ) - - - - - (883 ) (4,719 ) At December 31, 2021 73,484 - 47,642 42,054 12,328 21,393 1,096 197,997 Deferred income tax assets Provisions Accelerated tax depreciation Tax losses Work Accrual for Impairment IFRS 9 Tax Goodwill Earning Unpaid Non domicilied expenses IFRS Others Total At January 1, 2019 42,572 921 178,289 34,005 9,782 253,767 - 18,048 - - - (3,761 ) 533,623 Debit (credit) to P&L 938 7,512 3,024 11,715 1,842 (205,265 ) 46,804 (4,526 ) - - - 18,438 (119,518 ) Debit (credit) to equity - - - - - - - - - - - (3 ) (3 ) Discontinued operations (134 ) - 11,319 - - - - - - - - 2,557 13,742 IFRIC 23 adoption - - (986 ) - - - - - - - - - (986 ) Others - - - - - - - - - - - (12,864 ) (12,864 ) At December 31, 2019 43,376 8,433 191,646 45,720 11,624 48,502 46,804 13,522 - - - 4,367 413,994 At January 1, 2020 43,376 8,433 191,646 45,720 11,624 48,502 46,804 13,522 - - - 4,367 413,994 Debit (credit) to P&L (36,338 ) 2,041 (8,767 ) (12,298 ) 1,301 3,257 (10,874 ) (4,518 ) - - - 14,718 (51,478 ) Discontinued operations (1,792 ) (1,667 ) - - 115 - - - - - - 9,986 6,642 Reclassification 24,340 (1,154 ) 3,616 (28,630 ) - (507 ) 10,067 4,989 - - - (15,116 ) (2,395 ) Others - - - - - - - - - - - 39 39 At December 31, 2020 29,586 7,653 186,495 4,792 13,040 51,252 45,997 13,993 - - - 13,994 366,802 Debit (credit) to P&L 13,673 8,640 36,258 (4,792 ) 7,288 (21,834 ) 5,596 (2,407 ) 8,372 4,064 4,571 (236 ) 59,193 Sale of a subsidiary (2,413 ) - (40,312 ) - (887 ) - - - - - - (1,793 ) (45,405 ) Others - - - - - - - - - - - (4,884 ) (4,884 ) At December 31, 2021 40,846 16,293 182,441 - 19,441 29,418 51,593 11,586 8,372 4,064 4,571 7,081 375,706 |
Schedule of tax loss | Tax loss aplication Application Statute of Tax loss method 2022 2023 Forward limitations Cumbra Peru S.A. 342,268 B 14,000 14,771 313,497 - Vial y Vives - DSD S.A. 225,094 NA 129,222 - 95,872 - AENZA S.A.A. 32,092 A 32,092 - - 2025 Transportadora de Gas Natural 15,989 B 82 952 14,955 - GyM Chile S.p.A. 14,705 NA - - 14,705 - Carretera Andina del Sur S.A.C. 3,704 B 3,704 - - - Consorcio Vial del Sur 3,508 A 3,508 - - 2025 Incolur DSD 1,537 NA - - 1,537 - Cumbra Ingeniería S.A. 2 A 2 - - 2025 638,899 182,610 15,723 440,566 |
Workers' Profit Sharing (Tables
Workers' Profit Sharing (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Workers Profit Sharing Explanatory [Abstract] | |
Schedule of the workers’ profit sharing in the income statement | 2019 2020 2021 Cost of sales of goods and services 4,661 2,147 7,650 Administrative expenses 1,679 23 1,238 6,340 2,170 8,888 |
Costs and ExpensesBy Nature (Ta
Costs and ExpensesBy Nature (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of expenses by nature [text block] [Abstract] | |
Schedule of costs and expenses by nature | Cost of goods and Administrative services expenses Total 2019 Salaries, wages and fringe benefits (i) 951,455 117,426 1,068,881 Services provided by third-parties 1,447,294 58,728 1,506,022 Purchase of goods 855,743 - 855,743 Other management charges 174,678 27,708 202,386 Depreciation (ii) 95,445 1,907 97,352 Amortization (Note 17) 99,589 5,689 105,278 Impairment of accounts receivable (iii) 8,183 - 8,183 Taxes 6,941 2,450 9,391 Impairment of property, plant and equipment 3,907 - 3,907 Impairment of investments 255 - 255 Inventory recovery (249 ) - (249 ) 3,643,241 213,908 3,857,149 Cost of goods and Administrative services expenses Total 2020 Salaries, wages and fringe benefits (i) 946,631 75,677 1,022,308 Services provided by third-parties 949,545 33,411 982,956 Purchase of goods 565,052 - 565,052 Other management charges 158,929 14,322 173,251 Depreciation (ii) 79,732 6,393 86,125 Amortization (Note 17) 93,135 4,138 97,273 Impairment of accounts receivable (iii) 32,215 4 32,219 Taxes 5,956 68 6,024 Recovery of property, plant and equipment 4,950 - 4,950 Impairment of investments 38 - 38 Inventory recovery (30 ) - (30 ) 2,836,153 134,013 2,970,166 Cost of goods and Administrative services expenses Total 2021 Salaries, wages and fringe benefits (i) 1,297,352 97,682 1,395,034 Services provided by third-parties 1,118,929 56,462 1,175,391 Purchase of goods 705,000 43 705,043 Other management charges 222,648 16,203 238,851 Depreciation (ii) 82,063 5,425 87,488 Amortization (Note 17) 101,578 3,642 105,220 Impairment of accounts receivable (iii) 9,420 2 9,422 Taxes 5,691 154 5,845 Impairment of property, plant and equipment 5,679 - 5,679 Impairment of inventory 2,984 - 2,984 3,551,344 179,613 3,730,957 |
Schedule of salaries, wages and fringe benefits comprise | 2019 2020 2021 Salaries 786,346 756,873 1,068,013 Statutory gratification 88,369 85,010 96,612 Social contributions 61,533 57,225 75,395 Employee’s severance indemnities 49,944 55,523 66,827 Vacations 39,298 39,499 49,409 Workers’ profit sharing (Note 25) 6,340 2,170 8,888 Others 37,051 26,008 29,890 1,068,881 1,022,308 1,395,034 |
Schedule of depreciation comprises | Cost of goods and Administrative services expenses Total 2019 Property, plant and equipment (Note 16.2) 70,368 1,670 72,038 Right-of-use assets (Note 16.3) 22,721 237 22,958 Investment property (Note 16.1) 2,356 - 2,356 95,445 1,907 97,352 2020 Property, plant and equipment (Note 16.2) 66,479 5,432 71,911 Right-of-use assets (Note 16.3) 10,840 961 11,801 Investment property (Note 16.1) 2,413 - 2,413 79,732 6,393 86,125 2021 Property, plant and equipment (Note 16.2) 60,230 4,610 64,840 Right-of-use assets (Note 16.3) 17,517 815 18,332 Investment property (Note 16.1) 4,316 - 4,316 82,063 5,425 87,488 |
Schedule of impairment of accounts receivable | 2019 2020 2021 Trade accounts receivables (Note 10) 955 19,772 1,061 Other accounts receivable (Note 13.i) 5,704 12,318 1,177 Accounts receivable from related parties 1,524 129 7,184 8,183 32,219 9,422 |
Financial Income and Expenses (
Financial Income and Expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of finance income (cost) [text block] [Abstract] | |
Schedule of financial income | 2019 2020 2021 Financial income: Profit for present value of financial asset or financial liability 30,408 32,734 3,127 Interest on short-term bank deposits 4,056 2,353 959 Interest on loans to third parties 789 863 442 Interest on mutual funds 116 537 287 Commissions and collaterals 535 601 55 Sale of CPAO financial asset to Mizuho Bank Ltd. (a) 35,971 - - Others 2,781 2,228 903 74,656 39,316 5,773 |
Schedule of financial expenses | Financial expenses: Interest expense on: - Bank loans (b) 78,293 63,435 56,534 - Bonds 26,113 26,771 36,830 - Loans from third parties 14,162 12,612 12,642 - Right-of-use 5,472 4,259 3,982 - Financial lease 2,042 1,187 862 Commissions and collaterals 25,492 28,083 24,263 Interests from Tax Administration 6,222 4,827 14,236 Loss for present value of financial asset or 41,131 4,552 53,757 Update of fair value of financial liability (d) - - 12,402 Exchange difference loss, net 32,570 3,766 47,211 Derivative financial instruments 92 64 - Other financial expenses 7,349 1,686 1,099 Less capitalized interest (7,229 ) (4,887 ) (1,244 ) 231,709 146,355 262,574 |
Other Income and Expenses, Net
Other Income and Expenses, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of other operating income (expense) [text block] [Abstract] | |
Schedule of other income and expenses, net | 2019 2020 2021 Other income: Change in contract of the call option (a) - - 70,322 Sale of assets 12,748 9,118 9,618 Recovery of provisions and impairments 23,279 6,501 6,070 Insurance compensation - 156 3,728 Penalty income 984 1,168 1,883 Supplier debt forgiveness 19,026 14,545 - Profit from Mizuho Bank Ltd. agreement (b) 89,688 - - Trademarks revaluation 20,676 - - Others 13,384 4,072 5,593 179,785 35,560 97,214 Other expenditures: Asset impairment (c) 329,670 103,074 20,285 Civil repair to the Peruvian Government 69,150 64,571 86 Legal and tax litigation (d) 49,754 32,186 59,184 Net cost of fixed assets disposal 6,667 6,478 7,794 Provision for well closure 4,055 112 7,211 Disposal of property, plant and equipment 14,394 501 3,764 Present value of the call option 4,697 2,326 - Administrative fine 1,423 2,056 2,068 Renegotiation of contract with suppliers - 4,889 176 Others 26,729 549 1,123 506,539 216,742 101,691 (326,754 ) (181,182 ) (4,477 ) a) In 2021, the subsidiary Cumbra Peru S.A. renegotiated the payment for the purchase of shares from the minority of the subsidiary Morelco S.A.S., such renegotiation ended with the signing of a new acquisition agreement for an amount of US$15.4 million, disregarding the original put option agreement. Consequently, the Company recorded “other income - results from valuation of financial instruments” for an amount of S/70.3 million in the statement of income in 2021 (Note 21-c). b) 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. c) In 2021, corresponds mainly to the impairment of other accounts receivable of S/19.9 million, as a consequence of the financial obligation assumed by AENZA S.A.A. in favor of Adexus S.A.(Note 13-i). In 2020, corresponds to: i) impairment of other accounts receivable generated by the subsidiary Concesionaria Vía Expresa Sur S.A. for S/55.8 million, as a consequence of the new estimates of the Company on the recovery of the investment it maintains in the project; ii) impairment of other accounts receivable of CAM Holding S.p.A. for S/12.5 million for claims accepted against the guarantee account; iii) impairment of trade receivables generated by the subsidiary Unna Transporte S.A.C. for S/33.7 million to the Regional Government of Cusco iv) other minor for S/0.5 million of other receivables and S/0.5 million of trade receivables. In 2019, corresponds to a 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 d) In 2021, corresponds mainly to the penalty imposed by the Technical Secretariat of INDECOPI to the subsidiary Cumbra Peru S.A. for S/28.1 million and to the subsidiary Unna Transporte S.A.C. for S/2.4 million (Note 22-a), additionally, tax penalties for income tax in AENZA S.A.A. for S/18.2 million, Cumbra Peru S.A. for S/9.5 million and Cumbra Ingenieria S.A. for S/0.9 million. In 2020, exposure of the fine by the Technical Secretariat of INDECOPI of the subsidiary Cumbra Peru for S/24.5 million (Note 22-a) and other minor proceedings for S/7.7 million. In 2019, corresponds to the Class Action civil lawsuit in AENZA S.A.A for S/49.7 million. |
Tax Situation (Tables)
Tax Situation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of income tax [text block] [Abstract] | |
Schedule of income tax expense | 2019 2020 2021 Current income tax 113,062 52,556 107,721 Deferred income tax (Note 24) 206,894 9,652 (64,021 ) Income tax expense 319,956 62,208 43,700 2019 2020 2021 Loss before income tax (474,726 ) (111,212 ) (46,614 ) Income tax by applying local applicable tax rates on profit generated in the respective countries (141,370 ) (34,133 ) (13,182 ) Tax effect on: - Non-deductible expenses 84,832 47,761 33,489 - Provision of tax contingencies 7,079 (3,421 ) 14,240 - Change in prior years estimations 36,529 2,213 8,492 - Unrecognized deferred income tax asset 82,424 24,930 1,459 - Equity method (profit) loss (64 ) (227 ) 254 - Non-taxable income (1,195 ) (22 ) (57 ) - Reversal of deferred income tax asset 174,716 7,950 - - Non-recoverable item 85,301 19,794 - - Adjustment for changes in rates of income tax 622 (240 ) - - Others (8,918 ) (2,397 ) (995 ) Income tax 319,956 62,208 43,700 |
Schedule of consolidated theoretical amount is obtained from the weighting of the profit or loss before income tax and the applicable income tax rate | Rates Utility Taxes before the local Tax Tax Country Applicable to Rent to rent (A) (B) (A)*(B) 2019 Peru 29.50 % (1,612,192 ) (475,596 ) Peru - Red Vial 5 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 % (38,177 ) (10,307 ) Colombia 33.00 % (11,824 ) (3,902 ) Bolivia 25.00 % 681 170 Mexico 30.00 % 1,261 378 Unrealized gains 1,022,711 300,119 (474,725 ) (141,370 ) Rates Utility Taxes before the local Tax Tax Country Applicable to Rent to rent (A) (B) (A)*(B) 2020 Peru 29.50 % (130,909 ) (38,612 ) Peru - Red Vial 5 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 % 5,401 1,458 Colombia 32.00 % (11,178 ) (3,577 ) Bolivia 25.00 % (13 ) (3 ) México 30.00 % (1,283 ) (385 ) Unrealized gains (3,095 ) (2,073 ) (111,212 ) (34,133 ) 2021 Peru 29.50 % (76,324 ) (22,516 ) Peru - Red Vial 5 S.A. 27.00 % 40,473 10,928 Peru - Tren Urbano de Lima S.A. 30.00 % 61,484 18,445 Peru - Via Expresa Sur S.A. 30.00 % (3,804 ) (1,141 ) Peru - Unna Energia S.A. 29.00 % 24,699 6,916 Chile 27.00 % (71,692 ) (19,357 ) Colombia 32.00 % 1,040 322 Bolivia 25.00 % 59 15 México 30.00 % (288 ) (86 ) Unrealized gains (22,261 ) (6,708 ) (46,614 ) (13,182 ) |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of analysis of other comprehensive income by item [text block] [Abstract] | |
Schedule of analysis of other comprehensive income | Exchange Foreign Increase in difference from net currency fair value of investment Cash flow translations available-for in a foreign hedge adjustment sale assets operation Total As of January 1, 2019 588 (62,390 ) 7,461 (9,954 ) (64,295 ) (Charge) credit for the year 8 (6,892 ) - - (6,884 ) Tax effects (2 ) - - (2 ) Other comprehensive income of the year 6 (6,892 ) - - (6,886 ) As of December 31, 2019 594 (69,282 ) 7,461 (9,954 ) (71,181 ) As of January 1, 2020 594 (69,282 ) 7,461 (9,954 ) (71,181 ) (Charge) 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 ) (Charge) credit for the year - (5,957 ) - (425 ) (6,382 ) Other comprehensive income of the year - (5,957 ) - (425 ) (6,382 ) As of December 31, 2021 - (67,081 ) 7,461 (9,671 ) (69,291 ) |
Schedule of controlling interest, net of tax | 2019 2020 2021 Controlling interest (6,886 ) 8,272 (6,382 ) Non-controlling interest (1,734 ) 114 (33 ) Total value in OCI (8,620 ) 8,386 (6,415 ) |
Loss Per Share (Tables)
Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of earnings per share [text block] [Abstract] | |
Schedule of basic loss per common share | 2019 2020 2021 Loss attributable to owners of the Company during the period (884,721 ) (217,871 ) (153,210 ) Weighted average number of shares in issue at S/1.00 each, at December 31, 822,213,119 871,917,855 871,917,855 Basic loss per share (in S/) (*) (1.076 ) (0.250 ) (0.176 ) 2019 2020 2021 Loss from continuing operations attributable to owners of the Company during the period (840,762 ) (200,947 ) (126,436 ) Weighted average number of shares in issue at S/1.00 each, at December 31, 822,213,119 871,917,855 871,917,855 Basic loss per share (in S/) (*) (1.023 ) (0.230 ) (0.145 ) |
Transactions with Non-Control_2
Transactions with Non-Controlling Interests (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Transactions With Noncontrolling Interests Explanatory [Abstract] | |
Schedule of contributions of non-controlling shareholders | 2019 2020 2021 Contributions received 152 18 182 Returns of contributions (33,148 ) (15,743 ) (27,286 ) Decrease in equity of non controlling parties (32,996 ) (15,725 ) (27,104 ) |
Operations of Subsidiary Adex_2
Operations of Subsidiary Adexus S.A. Reclassified as Discontinuing Operations (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of discontinued operations [Abstract] | |
Schedule of discontinued operation related to Adexus S.A. | 2019 2020 2021 Revenues 252,857 167,624 162,967 Operating costs (244,183 ) (157,268 ) (157,299 ) Gross profit 8,674 10,356 5,668 Administrative expenses (34,744 ) (18,896 ) (21,698 ) Other (expenses) income, net (12,740 ) (1,664 ) 20 Operating loss (38,810 ) (10,204 ) (16,010 ) Financial expenses (24,359 ) (10,588 ) (15,847 ) Financial income 2,625 104 121 Loss before income tax (60,544 ) (20,688 ) (31,736 ) Income tax 16,585 3,764 4,962 Loss from discontinued operations (43,959 ) (16,924 ) (26,774 ) Net effect in consolidated (43,959 ) (16,924 ) (26,774 ) Operating cash flows 437 27,894 786 Investing cash flows - (3,301 ) (3,573 ) Financing cash flows (1,250 ) (21,016 ) 8,449 Net increase generated in subsidiary (813 ) 3,577 5,662 |
General Information (Details)
General Information (Details) S/ in Millions, $ in Millions | Aug. 10, 2021 | Nov. 17, 2021PEN (S/) | Jun. 15, 2021shares | Dec. 31, 2021PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
General Information [Abstract] | ||||||
Total common shares (in Shares) | shares | 107,198,601 | |||||
Percentage of voting rights | 12.29% | |||||
Percentage of purchase amount | 23.90% | |||||
Percentage Of purchace shares | 12.29% | |||||
Percentage of voting, rights | 11.61% | |||||
Trust Agreement Description | Trust agreement with IG4 as trustee and La Fiduciaria S.A. as Trust, in which, among other aspects, IG4 acquired the voting rights of AENZA’s common shares representing approximately 8.97% of the company for a period of 8 years, which could be automatically renewed for an additional period of 8 years. As a result of the transactions described before, IG4 ended up controlling common shares for a total of 33.87% of the Company’s capital stock. | Trust agreement with IG4 as trustee and La Fiduciaria S.A. as Trust, in which, among other aspects, IG4 acquired the voting rights of AENZA’s common shares representing approximately 8.97% of the company for a period of 8 years, which could be automatically renewed for an additional period of 8 years. As a result of the transactions described before, IG4 ended up controlling common shares for a total of 33.87% of the Company’s capital stock. | ||||
Commits to pay | S/ 321.9 | $ 41.1 | ||||
Repayment tenor, description | (i) a repayment tenor of 12 years, (ii) the legal interest rate in domestic and foreign currency, (iii) a total collateral of S/197.0 million through a trust agreement that includes shares issued by a subsidiary of AENZA, a real estate asset guarantee and a debt service guaranty account. Among other conditions, the Agreement includes a restriction to participate in public construction and road maintenance contracts for 2 years from the approval of the Agreement. As at 31 December 2021, we registered the present value of the amounts described before, which amount to S/164.6 million and US$18.9 million (in total S/240.1 million). | (i) a repayment tenor of 12 years, (ii) the legal interest rate in domestic and foreign currency, (iii) a total collateral of S/197.0 million through a trust agreement that includes shares issued by a subsidiary of AENZA, a real estate asset guarantee and a debt service guaranty account. Among other conditions, the Agreement includes a restriction to participate in public construction and road maintenance contracts for 2 years from the approval of the Agreement. As at 31 December 2021, we registered the present value of the amounts described before, which amount to S/164.6 million and US$18.9 million (in total S/240.1 million). | ||||
Commission Amount | S/ | S/ 67.0 | |||||
Estimated Amount | 52.6 | S/ 4.8 | $ 1.2 | |||
Equivalent of Present Value | S/ 24.5 | $ 20 | $ 12 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Summary of Significant Accounting Policies (Details) [Line Items] | |
Useful life of this asset | 60 years |
Remuneration percentage | 8.33% |
Personnel description | (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. |
Remunerations description | (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) or 10% of the profit, to be determined by the employer, (iii) in Colombia these benefits are not provided to employees up to a maximum of twelve monthly remunerations. |
Bottom of range [member] | |
Summary of Significant Accounting Policies (Details) [Line Items] | |
Voting rights percnetgae | 20.00% |
Estimated useful lives of properties | 5 years |
Cutomers estimation of useful life | 5 years |
amortized over their estimated useful lives | 2 years |
Top of range [member] | |
Summary of Significant Accounting Policies (Details) [Line Items] | |
Voting rights percnetgae | 50.00% |
Estimated useful lives of properties | 50 years |
Cutomers estimation of useful life | 9 years |
amortized over their estimated useful lives | 15 years |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - Schedule of major equipment is calculated under the straight-line method to allocate their cost less their residual values over their estimated useful lives | 12 Months Ended |
Dec. 31, 2021 | |
Buildings and facilities [Member] | Bottom of range [member] | |
Summary of Significant Accounting Policies (Details) - Schedule of major equipment is calculated under the straight-line method to allocate their cost less their residual values over their estimated useful lives [Line Items] | |
Estimated useful lives of the assets | 3 years |
Buildings and facilities [Member] | Top of range [member] | |
Summary of Significant Accounting Policies (Details) - Schedule of major equipment is calculated under the straight-line method to allocate their cost less their residual values over their estimated useful lives [Line Items] | |
Estimated useful lives of the assets | 50 years |
Machinery and equipment [Member] | Bottom of range [member] | |
Summary of Significant Accounting Policies (Details) - Schedule of major equipment is calculated under the straight-line method to allocate their cost less their residual values over their estimated useful lives [Line Items] | |
Estimated useful lives of the assets | 2 years |
Machinery and equipment [Member] | Top of range [member] | |
Summary of Significant Accounting Policies (Details) - Schedule of major equipment is calculated under the straight-line method to allocate their cost less their residual values over their estimated useful lives [Line Items] | |
Estimated useful lives of the assets | 10 years |
Vehicles [Member] | Bottom of range [member] | |
Summary of Significant Accounting Policies (Details) - Schedule of major equipment is calculated under the straight-line method to allocate their cost less their residual values over their estimated useful lives [Line Items] | |
Estimated useful lives of the assets | 2 years |
Vehicles [Member] | Top of range [member] | |
Summary of Significant Accounting Policies (Details) - Schedule of major equipment is calculated under the straight-line method to allocate their cost less their residual values over their estimated useful lives [Line Items] | |
Estimated useful lives of the assets | 10 years |
Furniture and fixtures [Member] | Bottom of range [member] | |
Summary of Significant Accounting Policies (Details) - Schedule of major equipment is calculated under the straight-line method to allocate their cost less their residual values over their estimated useful lives [Line Items] | |
Estimated useful lives of the assets | 2 years |
Furniture and fixtures [Member] | Top of range [member] | |
Summary of Significant Accounting Policies (Details) - Schedule of major equipment is calculated under the straight-line method to allocate their cost less their residual values over their estimated useful lives [Line Items] | |
Estimated useful lives of the assets | 10 years |
Other equipment [Member] | Bottom of range [member] | |
Summary of Significant Accounting Policies (Details) - Schedule of major equipment is calculated under the straight-line method to allocate their cost less their residual values over their estimated useful lives [Line Items] | |
Estimated useful lives of the assets | 2 years |
Other equipment [Member] | Top of range [member] | |
Summary of Significant Accounting Policies (Details) - Schedule of major equipment is calculated under the straight-line method to allocate their cost less their residual values over their estimated useful lives [Line Items] | |
Estimated useful lives of the assets | 10 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details) - Schedule of consolidated statement of financial position S/ in Thousands | Dec. 31, 2020PEN (S/) | |
Current assets | ||
Trade accounts receivables, net | S/ 703,167 | [1] |
Other accounts receivable | 433,531 | [1] |
Other current assets | 1,688,911 | [1] |
Total current assets | 2,825,609 | [1] |
Non-current assets | ||
Trade accounts receivable, net | 730,666 | [1] |
Other non-current assets | 2,556,289 | [1] |
Total non-current assets | 3,286,955 | [1] |
Total assets | 6,112,564 | [1] |
Current liabilities | ||
Trade accounts payable | 1,097,167 | [1] |
Other accounts payable | 718,406 | [1] |
Other current liabilities | 682,399 | [1] |
Total current liabilities | 2,497,972 | [1] |
Non-current liabilities | ||
Provisions | 336,609 | [1] |
Other non-current liabilities | 1,682,687 | [1] |
Total non-current liabilities | 2,019,296 | [1] |
Total liabilities | 4,517,268 | [1] |
Equity | ||
Total equity | 1,595,296 | [1] |
Total liabilities and equity | 6,112,564 | [1] |
Reclassification [Member] | ||
Current assets | ||
Trade accounts receivables, net | (15,653) | |
Other accounts receivable | (28,788) | |
Total current assets | (44,441) | |
Non-current assets | ||
Trade accounts receivable, net | (41,373) | |
Total non-current assets | (41,373) | |
Total assets | (85,814) | |
Current liabilities | ||
Trade accounts payable | (32,751) | |
Other accounts payable | (11,690) | |
Total current liabilities | (44,441) | |
Non-current liabilities | ||
Provisions | (41,373) | |
Total non-current liabilities | (41,373) | |
Total liabilities | (85,814) | |
Equity | ||
Total liabilities and equity | (85,814) | |
As restated [Member] | ||
Current assets | ||
Trade accounts receivables, net | 687,514 | |
Other accounts receivable | 404,743 | |
Other current assets | 1,688,911 | |
Total current assets | 2,781,168 | |
Non-current assets | ||
Trade accounts receivable, net | 689,293 | |
Other non-current assets | 2,556,289 | |
Total non-current assets | 3,245,582 | |
Total assets | 6,026,750 | |
Current liabilities | ||
Trade accounts payable | 1,064,416 | |
Other accounts payable | 706,716 | |
Other current liabilities | 682,399 | |
Total current liabilities | 2,453,531 | |
Non-current liabilities | ||
Provisions | 295,236 | |
Other non-current liabilities | 1,682,687 | |
Total non-current liabilities | 1,977,923 | |
Total liabilities | 4,431,454 | |
Equity | ||
Total equity | 1,595,296 | |
Total liabilities and equity | S/ 6,026,750 | |
[1] | Consolidated statement of financial position submitted on June 9, 2021 (Note 2.32-i) |
Financial Risk Management (Deta
Financial Risk Management (Details) S/ in Millions | 12 Months Ended | ||
Dec. 31, 2021PEN (S/) | Dec. 31, 2020PEN (S/) | Dec. 31, 2019PEN (S/) | |
Financial Risk Management (Details) [Line Items] | |||
Pre-tax increased decreased amount | S/ 0.9 | S/ 0.1 | S/ 0.7 |
Foreign exchange translation adjustment | S/ 6.0 | S/ 8.3 | S/ 8.2 |
Gearing ratio | 0.38 | 0.37 | |
Bottom of range [member] | |||
Financial Risk Management (Details) [Line Items] | |||
Gearing ratio | 0.08 | 0.08 | |
Top of range [member] | |||
Financial Risk Management (Details) [Line Items] | |||
Gearing ratio | 0.7 | 0.7 | |
Chilean and Colombian Pesos [Member] | |||
Financial Risk Management (Details) [Line Items] | |||
Strengthened and weakened percentage | 2.00% |
Financial Risk Management (De_2
Financial Risk Management (Details) - Schedule of financial assets and liabilities - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Soles [Member] | |||
Financial Risk Management (Details) - Schedule of financial assets and liabilities [Line Items] | |||
Financial assets and liabilities | [1] | $ 3.998 | $ 3.624 |
Chilean Pesos [Member] | |||
Financial Risk Management (Details) - Schedule of financial assets and liabilities [Line Items] | |||
Financial assets and liabilities | [2] | 844.69 | 711.24 |
Colombian Pesos [Member] | |||
Financial Risk Management (Details) - Schedule of financial assets and liabilities [Line Items] | |||
Financial assets and liabilities | [3] | $ 3,981.16 | $ 3,432.5 |
[1] | Soles published by the Superintendencia de Bancos, Seguros y AFP (SBS). | ||
[2] | Chilean pesos published by the Banco Central de Chile. | ||
[3] | Colombian pesos published by Banco de la Republica de Colombia. |
Financial Risk Management (De_3
Financial Risk Management (Details) - Schedule of financial position S/ in Thousands, $ in Thousands | Dec. 31, 2021PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2019PEN (S/) |
Schedule of financial position [Abstract] | |||||
Assets | $ 519,448 | $ 562,761 | |||
Liabilities | S/ 5,773 | $ 512,947 | S/ 39,316 | $ 295,120 | S/ 74,656 |
Financial Risk Management (De_4
Financial Risk Management (Details) - Schedule of corporation's exchange gains and losses - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of corporation's exchange gains and losses [Abstract] | |||
Gain | $ 383,199 | $ 426,164 | $ 390,008 |
Loss | $ (430,410) | $ (429,930) | $ (422,578) |
Financial Risk Management (De_5
Financial Risk Management (Details) - Schedule of foreign currency - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Chilean Pesos [Member] | ||
Financial Risk Management (Details) - Schedule of foreign currency [Line Items] | ||
Assets | S/ 37,652,361 | S/ 40,869,086 |
Liabilities | 97,540,055 | 74,151,415 |
Colombian Pesos [Member] | ||
Financial Risk Management (Details) - Schedule of foreign currency [Line Items] | ||
Assets | 63,774,095 | 113,350,078 |
Liabilities | S/ 33,770,395 | S/ 54,581,654 |
Financial Risk Management (De_6
Financial Risk Management (Details) - Schedule of financial liabilities - Liquidity risk [Member] - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financial Risk Management (Details) - Schedule of financial liabilities [Line Items] | ||
Other financial liabilities (except for finance leases and lease liability for right-of-use asset) | S/ 574,966 | S/ 838,852 |
Finance leases | 10,533 | 60,572 |
Lease liability for right-of-use asset | 73,191 | 87,698 |
Bonds | 1,974,296 | 1,663,225 |
Trade accounts payables (except non-financial liabilities) | 912,826 | 1,009,221 |
Accounts payables to related parties | 101,716 | 80,115 |
Other accounts payables and other provisions (except non-financial liabilities) | 878,060 | 959,829 |
Financial liabilities total | 4,525,588 | 4,699,512 |
Less than 1 year [Member] | ||
Financial Risk Management (Details) - Schedule of financial liabilities [Line Items] | ||
Other financial liabilities (except for finance leases and lease liability for right-of-use asset) | 224,503 | 433,318 |
Finance leases | 5,624 | 16,287 |
Lease liability for right-of-use asset | 18,817 | 24,714 |
Bonds | 137,852 | 137,090 |
Trade accounts payables (except non-financial liabilities) | 912,826 | 968,719 |
Accounts payables to related parties | 51,004 | 43,818 |
Other accounts payables and other provisions (except non-financial liabilities) | 323,070 | 344,411 |
Financial liabilities total | 1,673,696 | 1,968,357 |
1-2 years [Member] | ||
Financial Risk Management (Details) - Schedule of financial liabilities [Line Items] | ||
Other financial liabilities (except for finance leases and lease liability for right-of-use asset) | 52,751 | 183,796 |
Finance leases | 4,613 | 14,919 |
Lease liability for right-of-use asset | 24,295 | 32,006 |
Bonds | 206,476 | 168,673 |
Trade accounts payables (except non-financial liabilities) | 40,502 | |
Accounts payables to related parties | 50,712 | 35,461 |
Other accounts payables and other provisions (except non-financial liabilities) | 22,941 | 62,943 |
Financial liabilities total | 361,788 | 538,300 |
2-5 years [Member] | ||
Financial Risk Management (Details) - Schedule of financial liabilities [Line Items] | ||
Other financial liabilities (except for finance leases and lease liability for right-of-use asset) | 173,392 | 197,785 |
Finance leases | 296 | 20,851 |
Lease liability for right-of-use asset | 21,993 | 19,847 |
Bonds | 837,931 | 385,919 |
Trade accounts payables (except non-financial liabilities) | ||
Accounts payables to related parties | ||
Other accounts payables and other provisions (except non-financial liabilities) | 109,383 | 230,352 |
Financial liabilities total | 1,142,995 | 854,754 |
More than 5 years [Member] | ||
Financial Risk Management (Details) - Schedule of financial liabilities [Line Items] | ||
Other financial liabilities (except for finance leases and lease liability for right-of-use asset) | 124,320 | 23,953 |
Finance leases | 8,515 | |
Lease liability for right-of-use asset | 8,086 | 11,131 |
Bonds | 792,037 | 971,543 |
Trade accounts payables (except non-financial liabilities) | ||
Accounts payables to related parties | 836 | |
Other accounts payables and other provisions (except non-financial liabilities) | 422,666 | 322,123 |
Financial liabilities total | S/ 1,347,109 | S/ 1,338,101 |
Financial Risk Management (De_7
Financial Risk Management (Details) - Schedule of gearing ratio S/ in Thousands | 12 Months Ended | |
Dec. 31, 2021PEN (S/) | Dec. 31, 2020PEN (S/) | |
Schedule of gearing ratio [Abstract] | ||
Total borrowings and bonds | S/ 1,840,822 | S/ 1,831,079 |
Less: Cash and cash equivalents | (957,178) | (900,168) |
Net debt | 883,644 | 930,911 |
Total equity | 1,453,266 | 1,595,296 |
Total capital | S/ 2,336,910 | S/ 2,526,207 |
Gearing ratio | 0.38 | 0.37 |
Financial Risk Management (De_8
Financial Risk Management (Details) - Schedule of assets and liabilities measured at fair value - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Level 3 [Member] | ||
Financial liabilities | ||
Other financial entities | S/ 165,878 | S/ 152,523 |
Critical Accounting Estimates_3
Critical Accounting Estimates and Judgments (Details) S/ in Millions, $ in Millions | 12 Months Ended | ||||||||
Dec. 31, 2021PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018 | |
Critical Accounting Estimates and Judgments (Details) [Line Items] | |||||||||
Terminal growth rate | 10.00% | 10.00% | 10.00% | ||||||
Discount rate | 2.73% | 2.73% | 1.60% | 1.60% | |||||
Management’s estimates, description | In 2021, if the revenue growth rate, terminal growth rate, or discount rate were 10% below Management’s estimates, the Corporation would have had to recognize a provision for trademark impairment in Vial y Vives-DSD. In 2020, if these assumptions had been 10% less or 10% more than Management’s estimates, the Corporation would have not recognized a provision for impairment in trademarks Vial y Vives-DSD. | In 2021, if the revenue growth rate, terminal growth rate, or discount rate were 10% below Management’s estimates, the Corporation would have had to recognize a provision for trademark impairment in Vial y Vives-DSD. In 2020, if these assumptions had been 10% less or 10% more than Management’s estimates, the Corporation would have not recognized a provision for impairment in trademarks Vial y Vives-DSD. | |||||||
Energy information administration, description | Future prices projected based on information available in the market at the date of the consolidated statement of financial position, based on a “Crude Oil Brent” price forecast and published by the Energy Information Administration (EIA, 2021) starting at US$/bbl54.86, reaching US$/bbl91.42 in the long term for crude oil. Likewise, the prices for the Company have been considered a reference price starting at US$/bbl53.36 up to US$/bbl89.92 in the long term. | Future prices projected based on information available in the market at the date of the consolidated statement of financial position, based on a “Crude Oil Brent” price forecast and published by the Energy Information Administration (EIA, 2021) starting at US$/bbl54.86, reaching US$/bbl91.42 in the long term for crude oil. Likewise, the prices for the Company have been considered a reference price starting at US$/bbl53.36 up to US$/bbl89.92 in the long term. | |||||||
Actual discount rate | 10.16% | 10.16% | |||||||
Oil reserves value (in Dollars) | $ | $ 25.2 | $ 26.1 | |||||||
Gas reserves value (in Dollars) | $ | $ 55,017 | $ 25,733 | |||||||
Recoverable value (in Nuevos Soles) | S/ 785.0 | ||||||||
Carrying value (in Nuevos Soles) | S/ 322.7 | ||||||||
Oil and gas prices, percentage | 10.00% | 10.00% | |||||||
Changes in discount rate | 10.00% | 10.00% | |||||||
Reduced price, percentage | 10.00% | 10.00% | |||||||
Increased discount rate | 10.00% | 10.00% | |||||||
Percentage of negative variation value | 17.10% | 17.10% | |||||||
Carrying value (in Nuevos Soles) | S/ 69.1 | S/ 62.6 | $ 17.3 | S/ 51.3 | $ 14.1 | $ 18.7 | |||
Tax contingencies amount (in Nuevos Soles) | S/ 303.0 | ||||||||
Increase/decrease gross margins | 10.00% | 10.00% | 10.00% | 10.00% | |||||
Estimated provision, description | the present value of the estimated provision for the closure of 201 wells amounted to S/71 million (S/52.9 million as of December 31, 2020, for the closure of 193 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 present value of the estimated provision for the closure of 201 wells amounted to S/71 million (S/52.9 million as of December 31, 2020, for the closure of 193 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). | |||||||
Pre-tax discount rates, description | the calculation of the provision has been separated according to the obligation’s currency. Therefore, the pre-tax discount rates used for the calculation of the present value were: i) Block I for 1.48% (for dollars) 4.54% (for soles), ii) Block V for 1.13% (for dollars) 4.01% (for soles), and iii) Blocks III and IV for 3.56% (for dollars) 7.01% (for soles), based on the rate applicable to Peruvian sovereign bonds in soles and dollars between 3, 5 and 30 years respectively, in effect as of December 2021. | the calculation of the provision has been separated according to the obligation’s currency. Therefore, the pre-tax discount rates used for the calculation of the present value were: i) Block I for 1.48% (for dollars) 4.54% (for soles), ii) Block V for 1.13% (for dollars) 4.01% (for soles), and iii) Blocks III and IV for 3.56% (for dollars) 7.01% (for soles), based on the rate applicable to Peruvian sovereign bonds in soles and dollars between 3, 5 and 30 years respectively, in effect as of December 2021. | |||||||
Estimated rate | 10.00% | 10.00% | |||||||
Net carrying amount, percentgae | 72.25% | ||||||||
Term of estimated account receivable | 5 years | ||||||||
Recovery of estimated management equals, percentage | 50.00% | 50.00% | |||||||
Total term | 8 years | 8 years | |||||||
Consolidation of entities, percentage | 50.00% | 50.00% | |||||||
Contractual agreement, description | 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 by a contractual agreement with the majority investor over Promotora Larcomar S.A. of which it owns 46.55% of the equity interest. | 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 by a contractual agreement with the majority investor over Promotora Larcomar S.A. of which it owns 46.55% of the equity interest. | |||||||
Engineering and Construction CGU (Morelco) [Member] | |||||||||
Critical Accounting Estimates and Judgments (Details) [Line Items] | |||||||||
Discount rate | 10.00% | 10.00% | |||||||
Related parties [member] | |||||||||
Critical Accounting Estimates and Judgments (Details) [Line Items] | |||||||||
Discount rate | 10.00% | 10.00% | |||||||
CGU’s [Member] | |||||||||
Critical Accounting Estimates and Judgments (Details) [Line Items] | |||||||||
Carrying value (in Nuevos Soles) | S/ 295.0 |
Critical Accounting Estimates_4
Critical Accounting Estimates and Judgments (Details) - Schedule of sensitivity analysis increasing or decreasing the assumptions of gross margin, discount rate, and revenue and terminal growth rate | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Recoverable Amount [Member] | Goodwill [Member] | ||
Goodwill | ||
Gross margin | (10.00%) | (10.00%) |
Discount rate | (10.00%) | (10.00%) |
Terminal growth rate | (10.00%) | (10.00%) |
Trademarks | ||
Discount rate | (10.00%) | (10.00%) |
Terminal growth rate | (10.00%) | (10.00%) |
Recoverable Amount [Member] | Goodwill [Member] | Engineering and construction [Member] | ||
Goodwill | ||
Gross margin | (111.04%) | (8.30%) |
Recoverable Amount [Member] | Goodwill [Member] | Electromechanical [Member] | ||
Goodwill | ||
Gross margin | 27.66% | 41.81% |
Recoverable Amount [Member] | Goodwill [Member] | Engineering and construction [Member] | ||
Goodwill | ||
Discount rate | (72.22%) | 32.68% |
Trademarks | ||
Discount rate | (72.22%) | 32.68% |
Recoverable Amount [Member] | Goodwill [Member] | Electromechanical [Member] | ||
Goodwill | ||
Discount rate | 57.09% | 52.32% |
Trademarks | ||
Discount rate | 57.09% | 52.32% |
Recoverable Amount [Member] | Goodwill [Member] | Engineering and construction [Member] | ||
Goodwill | ||
Terminal growth rate | (92.70%) | 11.58% |
Trademarks | ||
Terminal growth rate | (92.70%) | 11.58% |
Recoverable Amount [Member] | Goodwill [Member] | Electromechanical [Member] | ||
Goodwill | ||
Terminal growth rate | 51.59% | 46.83% |
Trademarks | ||
Terminal growth rate | 51.59% | 46.83% |
Carrying Amounts [Member] | Goodwill [Member] | ||
Goodwill | ||
Gross margin | 10.00% | 10.00% |
Discount rate | 10.00% | 10.00% |
Terminal growth rate | 10.00% | 10.00% |
Trademarks | ||
Discount rate | 10.00% | 10.00% |
Terminal growth rate | 10.00% | 10.00% |
Carrying Amounts [Member] | Goodwill [Member] | Engineering and construction [Member] | ||
Goodwill | ||
Gross margin | (68.87%) | 37.10% |
Carrying Amounts [Member] | Goodwill [Member] | Electromechanical [Member] | ||
Goodwill | ||
Gross margin | 75.53% | 55.60% |
Carrying Amounts [Member] | Goodwill [Member] | Engineering and construction [Member] | ||
Goodwill | ||
Discount rate | (103.35%) | 0.53% |
Trademarks | ||
Discount rate | (103.35%) | 0.53% |
Carrying Amounts [Member] | Goodwill [Member] | Electromechanical [Member] | ||
Goodwill | ||
Discount rate | 46.39% | 45.23% |
Trademarks | ||
Discount rate | 46.39% | 45.23% |
Carrying Amounts [Member] | Goodwill [Member] | Engineering and construction [Member] | ||
Goodwill | ||
Terminal growth rate | (86.99%) | 17.44% |
Trademarks | ||
Terminal growth rate | (86.99%) | 17.44% |
Carrying Amounts [Member] | Goodwill [Member] | Electromechanical [Member] | ||
Goodwill | ||
Terminal growth rate | 51.59% | 50.65% |
Trademarks | ||
Terminal growth rate | 51.59% | 50.65% |
Trademarks [Member] | Recoverable Amount [Member] | ||
Goodwill | ||
Discount rate | (10.00%) | (10.00%) |
Terminal growth rate | (10.00%) | (10.00%) |
Trademarks | ||
Revenue growth rate | (10.00%) | (10.00%) |
Discount rate | (10.00%) | (10.00%) |
Terminal growth rate | (10.00%) | (10.00%) |
Trademarks [Member] | Recoverable Amount [Member] | Trademarks [Member] | ||
Trademarks | ||
Revenue growth rate | 27.78% | 59.65% |
Trademarks [Member] | Recoverable Amount [Member] | Vial y Vives - DSD [Member] | ||
Trademarks | ||
Revenue growth rate | (6.61%) | (1.04%) |
Trademarks [Member] | Recoverable Amount [Member] | Trademarks [Member] | ||
Goodwill | ||
Discount rate | 78.73% | 124.29% |
Trademarks | ||
Discount rate | 78.73% | 124.29% |
Trademarks [Member] | Recoverable Amount [Member] | Vial y Vives - DSD [Member] | ||
Goodwill | ||
Discount rate | (6.50%) | (6.56%) |
Trademarks | ||
Discount rate | (6.50%) | (6.56%) |
Trademarks [Member] | Recoverable Amount [Member] | Vial y Vives - DSD [Member] | ||
Goodwill | ||
Terminal growth rate | 5.15% | (9.14%) |
Trademarks | ||
Terminal growth rate | 5.15% | (9.14%) |
Trademarks [Member] | Carrying Amounts [Member] | ||
Goodwill | ||
Discount rate | 10.00% | 10.00% |
Terminal growth rate | 10.00% | 10.00% |
Trademarks | ||
Revenue growth rate | 10.00% | 10.00% |
Discount rate | 10.00% | 10.00% |
Terminal growth rate | 10.00% | 10.00% |
Trademarks [Member] | Carrying Amounts [Member] | Trademarks [Member] | ||
Trademarks | ||
Revenue growth rate | 77.02% | 123.51% |
Trademarks [Member] | Carrying Amounts [Member] | Vial y Vives - DSD [Member] | ||
Trademarks | ||
Revenue growth rate | 14.14% | 2.79% |
Trademarks [Member] | Carrying Amounts [Member] | Trademarks [Member] | ||
Goodwill | ||
Discount rate | 32.50% | 66.82% |
Trademarks | ||
Discount rate | 32.50% | 66.82% |
Trademarks [Member] | Carrying Amounts [Member] | Vial y Vives - DSD [Member] | ||
Goodwill | ||
Discount rate | 16.83% | 9.95% |
Trademarks | ||
Discount rate | 16.83% | 9.95% |
Trademarks [Member] | Carrying Amounts [Member] | Vial y Vives - DSD [Member] | ||
Goodwill | ||
Terminal growth rate | 2.43% | 11.05% |
Trademarks | ||
Terminal growth rate | 2.43% | 11.05% |
Morelco [Member] | Recoverable Amount [Member] | Trademarks [Member] | ||
Goodwill | ||
Terminal growth rate | 48.35% | 86.47% |
Trademarks | ||
Terminal growth rate | 48.35% | 86.47% |
Morelco [Member] | Carrying Amounts [Member] | Trademarks [Member] | ||
Goodwill | ||
Terminal growth rate | 56.77% | 97.09% |
Trademarks | ||
Terminal growth rate | 56.77% | 97.09% |
Critical Accounting Estimates_5
Critical Accounting Estimates and Judgments (Details) - Schedule of sensitivity analysis was performed considering increase/decrease corporation’s gross margins - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of sensitivity analysis was performed considering increase/decrease corporation’s gross margins [Abstract] | |||
Revenues | S/ 2,272,561 | S/ 1,815,671 | S/ 2,411,880 |
Gross profit | S/ 93,913 | S/ 99,362 | S/ 60,317 |
% | 4.13% | 5.47% | 2.50% |
Plus 10% | 4.54% | 6.02% | 2.75% |
Increase in profit before income tax | S/ 9,261 | S/ 9,941 | S/ 6,010 |
Total | S/ 103,174 | S/ 109,303 | S/ 66,327 |
Less 10% | 3.72% | 4.92% | 2.25% |
Decrease in profit before income tax | S/ (9,261) | S/ (9,941) | S/ (6,010) |
Total sensitivity analysis | S/ 84,652 | S/ 89,421 | S/ 54,307 |
Interests in Other Entities (De
Interests in Other Entities (Details) S/ in Millions | 1 Months Ended |
Dec. 16, 2021PEN (S/) | |
Disclosure of interests in other entities [text block] [Abstract] | |
Capitalization of credits amount | S/ 323 |
Interests in Other Entities (_2
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cumbra Peru S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | 99.39% | 98.90% |
Percentage of common shares held by Subsidiaries (%) | ||
Percentage of common shares held by the Group (%) | 99.39% | 98.90% |
Percentage of common shares held by non-controlling interests (%) | 0.61% | 1.10% |
Morelco S.A.S.[Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | ||
Percentage of common shares held by Subsidiaries (%) | 100.00% | 70.00% |
Percentage of common shares held by the Group (%) | 100.00% | 70.00% |
Percentage of common shares held by non-controlling interests (%) | 30.00% | |
GyM Chile S.p.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | ||
Percentage of common shares held by Subsidiaries (%) | 100.00% | 100.00% |
Percentage of common shares held by the Group (%) | 100.00% | 100.00% |
Percentage of common shares held by non-controlling interests (%) | ||
Vial y Vives - DSD S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | ||
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% |
Cumbra Inversiones Colombia SAS [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | ||
Percentage of common shares held by Subsidiaries (%) | 100.00% | |
Percentage of common shares held by the Group (%) | 100.00% | |
Percentage of common shares held by non-controlling interests (%) | ||
Cumbra Ingenieria S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | 89.41% | 89.41% |
Percentage of common shares held by Subsidiaries (%) | ||
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% |
Ecología Tecnología Ambiental S.A.C. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | ||
Percentage of common shares held by Subsidiaries (%) | 100.00% | 100.00% |
Percentage of common shares held by the Group (%) | 100.00% | 100.00% |
Percentage of common shares held by non-controlling interests (%) | ||
GM Ingenieria y Construccion de CV [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | ||
Percentage of common shares held by Subsidiaries (%) | 100.00% | 100.00% |
Percentage of common shares held by the Group (%) | 100.00% | 100.00% |
Percentage of common shares held by non-controlling interests (%) | ||
GM Ingenieria Bolivia S.R.L. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | ||
Percentage of common shares held by Subsidiaries (%) | 100.00% | 98.57% |
Percentage of common shares held by the Group (%) | 100.00% | 98.57% |
Percentage of common shares held by non-controlling interests (%) | 1.43% | 1.43% |
Unna Energia S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | 95.00% | |
Percentage of common shares held by Subsidiaries (%) | ||
Percentage of common shares held by the Group (%) | 95.00% | |
Percentage of common shares held by non-controlling interests (%) | 5.00% | |
Oiltanking Andina Services S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | ||
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% |
Comprimido Andino S.A.C. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | ||
Percentage of common shares held by Subsidiaries (%) | 100.00% | 99.93% |
Percentage of common shares held by the Group (%) | 100.00% | 99.93% |
Percentage of common shares held by non-controlling interests (%) | 0.07% | |
Unna Transporte S.A.C. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | 100.00% | 100.00% |
Percentage of common shares held by Subsidiaries (%) | ||
Percentage of common shares held by the Group (%) | 100.00% | 100.00% |
Percentage of common shares held by non-controlling interests (%) | ||
Tren Urbano de Lima S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | 75.00% | 75.00% |
Percentage of common shares held by Subsidiaries (%) | ||
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% |
Carretera Andina del Sur S.A.C [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | 100.00% | 100.00% |
Percentage of common shares held by Subsidiaries (%) | ||
Percentage of common shares held by the Group (%) | 100.00% | 100.00% |
Percentage of common shares held by non-controlling interests (%) | ||
Red Vial 5 S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [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% |
Carretera Sierra Piura S.A.C. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [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% |
Percentage of common shares held by non-controlling interests (%) | ||
Concesionaria Via Expresa Sur S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | 99.98% | |
Percentage of common shares held by Subsidiaries (%) | 0.02% | |
Percentage of common shares held by the Group (%) | 100.00% | |
Percentage of common shares held by non-controlling interests (%) | ||
Viva Negocio Inmobiliario S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [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% |
Qualys S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | 100.00% | 100.00% |
Percentage of common shares held by Subsidiaries (%) | ||
Percentage of common shares held by the Group (%) | 100.00% | 100.00% |
Percentage of common shares held by non-controlling interests (%) | ||
Promotora Larcomar S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | 46.55% | 46.55% |
Percentage of common shares held by Subsidiaries (%) | ||
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% |
Negocios del Gas S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [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% |
Percentage of common shares held by non-controlling interests (%) | ||
Agenera S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [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% |
Percentage of common shares held by non-controlling interests (%) | ||
Inversiones en Autopistas S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [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% |
Percentage of common shares held by non-controlling interests (%) | ||
Cam Holding S.p.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | 100.00% | 100.00% |
Percentage of common shares held by Subsidiaries (%) | ||
Percentage of common shares held by the Group (%) | 100.00% | 100.00% |
Percentage of common shares held by non-controlling interests (%) | ||
Unna Energía S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | 95.00% | |
Percentage of common shares held by the Group (%) | 95.00% | |
Percentage of common shares held by non-controlling interests (%) | 5.00% | |
Concesionaria Vía Expresa Sur S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | 99.98% | |
Percentage of common shares held by Subsidiaries (%) | 0.02% | |
Percentage of common shares held by the Group (%) | 100.00% | |
Adexus S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of corporation’s subsidiaries and related interest [Line Items] | ||
Percentage of common shares directly held by Parent (%) | 100.00% | |
Percentage of common shares held by the Group (%) | 100.00% |
Interests in Other Entities (_3
Interests in Other Entities (Details) - Schedule of non-controlling interest is attributed - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Interests in Other Entities (Details) - Schedule of non-controlling interest is attributed [Line Items] | ||
Non controlling interests | S/ 253,450 | S/ 327,690 |
Viva Negocio Inmobiliario S.A. and subsidiaries [Member] | ||
Interests in Other Entities (Details) - Schedule of non-controlling interest is attributed [Line Items] | ||
Non controlling interests | 116,400 | 132,238 |
Red Vial 5 S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of non-controlling interest is attributed [Line Items] | ||
Non controlling interests | 55,559 | 57,941 |
Tren Urbano de Lima S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of non-controlling interest is attributed [Line Items] | ||
Non controlling interests | 41,757 | 59,231 |
Unna Energia S.A. [Member] | ||
Interests in Other Entities (Details) - Schedule of non-controlling interest is attributed [Line Items] | ||
Non controlling interests | 29,217 | 24,162 |
Cumbra Peru S.A. and subsidiaries [Member] | ||
Interests in Other Entities (Details) - Schedule of non-controlling interest is attributed [Line Items] | ||
Non controlling interests | 9,430 | 51,798 |
Others [Member] | ||
Interests in Other Entities (Details) - Schedule of non-controlling interest is attributed [Line Items] | ||
Non controlling interests | S/ 1,087 | S/ 2,320 |
Interests in Other Entities (_4
Interests in Other Entities (Details) - Schedule of summarized statement of financial position - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Viva Negocio Inmobiliario S.A. and subsidiaries [Member] | ||
Current: | ||
Assets | S/ 493,385 | S/ 541,703 |
Liabilities | (211,581) | (249,816) |
Current net assets (liabilities) | 281,804 | 291,887 |
Non-current: | ||
Assets | 111,528 | 120,223 |
Liabilities | (29,742) | (34,378) |
Non-current net assets (liabilities) | 81,786 | 85,845 |
Net assets | 363,590 | 377,732 |
Revenue | 239,391 | 182,439 |
Profit (loss) before income tax | 19,604 | 17,816 |
Income tax | (6,644) | (2,854) |
Profit (loss) for the year | 12,960 | 14,962 |
Other comprehensive income | ||
Total comprehensive income for the year | 12,960 | 14,962 |
Net cash provided from operating activities | 94,017 | 84,770 |
Net cash (applied to) provided from investing activities | 1,114 | (473) |
Net cash (applied to) provided from financing activities | (58,834) | (71,484) |
(Decrease) increase in cash and cash equivalents, net | 36,297 | 12,813 |
Cash and cash equivalents at the beginning of the year | 73,531 | 60,718 |
Cash and cash equivalents at the end of the year | 109,828 | 73,531 |
Cumbra Peru S.A. and subsidiaries [Member] | ||
Current: | ||
Assets | 1,371,524 | 1,265,612 |
Liabilities | (1,600,583) | (1,642,914) |
Current net assets (liabilities) | (229,059) | (377,302) |
Non-current: | ||
Assets | 909,297 | 1,050,747 |
Liabilities | (181,716) | (397,880) |
Non-current net assets (liabilities) | 727,581 | 652,867 |
Net assets | 498,522 | 275,565 |
Revenue | 2,273,151 | 1,816,358 |
Profit (loss) before income tax | (88,726) | (76,669) |
Income tax | (6,221) | (1,753) |
Profit (loss) for the year | (94,947) | (78,422) |
Other comprehensive income | 7,368 | |
Total comprehensive income for the year | (94,947) | (71,054) |
Net cash provided from operating activities | (79,810) | 1,400 |
Net cash (applied to) provided from investing activities | (28,592) | (8,835) |
Net cash (applied to) provided from financing activities | 21,300 | 26,550 |
(Decrease) increase in cash and cash equivalents, net | (87,102) | 19,115 |
Cash and cash equivalents at the beginning of the year | 355,582 | 336,467 |
Cash and cash equivalents at the end of the year | 268,480 | 355,582 |
Red Vial 5 S.A. [Member] | ||
Current: | ||
Assets | 104,292 | 72,462 |
Liabilities | (82,915) | (45,185) |
Current net assets (liabilities) | 21,377 | 27,277 |
Non-current: | ||
Assets | 368,258 | 403,280 |
Liabilities | (221,274) | (254,979) |
Non-current net assets (liabilities) | 146,984 | 148,301 |
Net assets | 168,361 | 175,578 |
Revenue | 197,137 | 134,149 |
Profit (loss) before income tax | 40,473 | (2,029) |
Income tax | (6,690) | 1,405 |
Profit (loss) for the year | 33,783 | (624) |
Other comprehensive income | ||
Total comprehensive income for the year | 33,783 | (624) |
Net cash provided from operating activities | 93,515 | 37,473 |
Net cash (applied to) provided from investing activities | (12) | |
Net cash (applied to) provided from financing activities | (69,914) | (39,667) |
(Decrease) increase in cash and cash equivalents, net | 23,601 | (2,206) |
Cash and cash equivalents at the beginning of the year | 64,080 | 66,286 |
Cash and cash equivalents at the end of the year | 87,681 | 64,080 |
Tren Urbano de Lima S.A. [Member] | ||
Current: | ||
Assets | 344,769 | 367,610 |
Liabilities | (106,467) | (85,616) |
Current net assets (liabilities) | 238,302 | 281,994 |
Non-current: | ||
Assets | 669,898 | 635,836 |
Liabilities | (741,202) | (680,905) |
Non-current net assets (liabilities) | (71,304) | (45,069) |
Net assets | 166,998 | 236,925 |
Revenue | 348,915 | 345,258 |
Profit (loss) before income tax | 61,485 | 87,522 |
Income tax | (19,382) | (26,681) |
Profit (loss) for the year | 42,103 | 60,841 |
Other comprehensive income | ||
Total comprehensive income for the year | 42,103 | 60,841 |
Net cash provided from operating activities | 41,725 | 52,055 |
Net cash (applied to) provided from investing activities | 162 | 812 |
Net cash (applied to) provided from financing activities | (67,255) | (145,788) |
(Decrease) increase in cash and cash equivalents, net | (25,368) | (92,921) |
Cash and cash equivalents at the beginning of the year | 207,975 | 300,896 |
Cash and cash equivalents at the end of the year | S/ 182,607 | S/ 207,975 |
Interests in Other Entities (_5
Interests in Other Entities (Details) - Schedule of concessions held by the corporation | 12 Months Ended |
Dec. 31, 2021 | |
Carretera Andina del Sur S.A. [Member] | |
Interests in Other Entities (Details) - Schedule of concessions held by the corporation [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 | US$99 million |
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 | 100.00% |
Concession termination | 2032 years |
Accounting model | Financial asset |
Carretera Sierra Piura S.A.C. [Member] | |
Interests in Other Entities (Details) - Schedule of concessions held by the corporation [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 | US$31 million |
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 | 100.00% |
Concession termination | 2025 years |
Accounting model | Financial asset |
Concesionaria La Chira S.A. [Member] | |
Interests in Other Entities (Details) - Schedule of concessions held by the corporation [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/250 million |
Consideration | Transaction secured by the Peruvian Government consisting of monthly and quarterly payments settled by Sedapal´s collection trust. |
Ordinary shares held | 50.00% |
Concession termination | 2036 years |
Accounting model | Financial asset |
Tren Urbano de Lima S.A. [Member] | |
Interests in Other Entities (Details) - Schedule of concessions held by the corporation [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/642 million |
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% |
Concession termination | 2041 years |
Accounting model | Financial asset |
Red Vial 5 S.A. [Member] | |
Interests in Other Entities (Details) - Schedule of concessions held by the corporation [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 | US$187 million |
Consideration | Collected from users (self-financed concession; revenue is derived from collection of tolls). |
Ordinary shares held | 67.00% |
Concession termination | 2028 years |
Accounting model | Intangible |
Concesionaria Vía Expresa Sur S.A. [Member] | |
Interests in Other Entities (Details) - Schedule of concessions held by the corporation [Line Items] | |
Description | The Company obtained the concession for designing, financing, building, operating and aintaining 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 | US$197 million |
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 February 2022. 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 | 100.00% |
Concession termination | 2053 years |
Accounting model | Financial asset |
Interests in Other Entities (_6
Interests in Other Entities (Details) - Schedule of corporation’s major joint operations | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Concesionaria La Chira S.A. [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio CDEM [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 85.00% | ||
Consorcio Huacho Pativilca [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 67.00% | 67.00% | 67.00% |
Consorcio GyM – CONCIVILES [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 67.00% | 67.00% | 67.00% |
Consorcio Chicama - Ascope [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio Constructor Alto Cayma [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio GyM Sade Skanska [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | ||
Consorcio Menegua [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | ||
Consorcio Ermitaño [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio GyM-Stracon [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio GyM-OSSA [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | ||
Consorcio HV GyM [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio La Chira [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio Lima Actividades Comerciales Sur [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio Lima Actividades Sur [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio Rio Urubamba [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio Rio Mantaro [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | ||
Consorcio TNT Vial y Vives - DSD Chile LTDA [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | ||
Constructora Incolur DSD Limitada [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | ||
Consorcio Alto Cayma [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 49.00% | 49.00% | 49.00% |
Consorcio Energia y Vapor [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | ||
Consorcio La Gloria [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 49.00% | 49.00% | 49.00% |
Consorcio Norte Pachacutec [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 49.00% | 49.00% | 49.00% |
Consorcio Italo Peruano [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 48.00% | 48.00% | 48.00% |
Consorcio Vial Quinua [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 46.00% | 46.00% | 46.00% |
Consorcio Constructor Ductos del Sur [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 29.00% | 29.00% | 29.00% |
Consorcio Constructor Chavimochic [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 27.00% | 27.00% | 27.00% |
Consorcio Inti Punku [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 49.00% | 49.00% | |
Consorcio Pasco [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 1.00% | 1.00% | 1.00% |
Consorcio Terminales [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Terminales del Peru [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio Ancon-Pativilca [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 67.00% | 67.00% | |
Consorcio Peruano de Conservacion [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio Manperan [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 67.00% | 67.00% | 67.00% |
Consorcio Vial Sierra [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 50.00% | 50.00% | 50.00% |
Consorcio Vial Ayahuaylas [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 99.00% | 99.00% | 99.00% |
Consorcio Vial ICAPAL [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 10.00% | 10.00% | |
Consorcio Vial Sullana [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 99.00% | 99.00% | 99.00% |
Consorcio Vial del Sur [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 99.00% | 99.00% | 99.00% |
Consorcio Obras Viales [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 99.00% | 99.00% | 99.00% |
Consorcio Vial la Concordia [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 88.00% | 88.00% | 88.00% |
Consorcio GMI- Haskoningdhv [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 70.00% | 70.00% | 70.00% |
Consorcio Supervisor Ilo [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 55.00% | 55.00% | 55.00% |
Consorcio Poyry-GMI [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 40.00% | 40.00% | 40.00% |
Consorcio Internacional Supervision Valle Sagrado [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 33.00% | 33.00% | 33.00% |
Consorcio Ecotec - GMI - PIM [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 30.00% | 30.00% | 30.00% |
Consorcio Ribereño Chinchaycamac [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 40.00% | 40.00% | 40.00% |
Consorcio Supervisor GRH [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 83.00% | 64.00% | |
Consorcio Ecotec - GMI [Member] | |||
AENZA S.A.A. | |||
Percentage of interest | 20.00% | 20.00% |
Segment reporting (Details)
Segment reporting (Details) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Segment reporting (Details) [Line Items] | ||
Corporation’s revenue | 70.00% | |
Chile and Colombia [Member] | ||
Segment reporting (Details) [Line Items] | ||
Income derived | 17.50% | |
Chile, Colombia and Mexico [Member] | ||
Segment reporting (Details) [Line Items] | ||
Income derived | 21.20% | |
No external customer [Member] | ||
Segment reporting (Details) [Line Items] | ||
Corporation’s revenue | 10.00% |
Segment reporting (Details) - S
Segment reporting (Details) - Schedule of operating income (loss) before income taxes - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of operating income (loss) before income taxes [Abstract] | |||
Net loss | S/ (117,088) | S/ (190,344) | S/ (838,642) |
Financial income and expenses | 272,527 | 117,523 | 178,787 |
Income tax | 38,738 | 58,444 | 303,371 |
Depreciation and amortization | 205,307 | 197,125 | 219,817 |
Initial EBITDA | 399,484 | 182,748 | (136,667) |
Impairment of investments | 261,924 | ||
Impairment of accounts receivables | 19,967 | 102,148 | 332,862 |
Impairment of goodwill | 33,089 | ||
Provisions: civil compensation and legal claims | 30,457 | 89,084 | 127,147 |
Provisions for labor claims | 7,434 | ||
Put option on Morelco acquisition | (70,322) | ||
Impairment recovery | (40,094) | ||
Adjusted EBITDA | S/ 379,586 | S/ 381,414 | S/ 578,261 |
Segment reporting (Details) -_2
Segment reporting (Details) - Schedule of EBITDA for each segment - Segments [Member] - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment reporting (Details) - Schedule of EBITDA for each segment [Line Items] | |||
Engineering and construction | S/ 29,318 | S/ 55,766 | S/ 51,147 |
Energy | 173,664 | 109,443 | 180,759 |
Infrastructure | 197,066 | 180,892 | 222,795 |
Real estate | 36,912 | 32,555 | 56,821 |
Parent company operations | (18,881) | (93,933) | (417,954) |
Intercompany eliminations | (38,493) | 96,691 | 484,693 |
EBITDA | S/ 379,586 | S/ 381,414 | S/ 578,261 |
Segment reporting (Details) -_3
Segment reporting (Details) - Schedule of expected future revenue backlog - PEN (S/) S/ in Thousands | 12 Months Ended | |||
Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Segment reporting (Details) - Schedule of expected future revenue backlog [Line Items] | ||||
Engineering and Construction | S/ 1,782,117 | |||
Infrastructure | 3,627,643 | |||
Real estate | 179,848 | |||
Intercompany eliminations | (453,660) | |||
Total segments | S/ 5,135,948 | |||
Annual Backlog [Member] | ||||
Segment reporting (Details) - Schedule of expected future revenue backlog [Line Items] | ||||
Engineering and Construction | S/ 582,591 | S/ 596,639 | S/ 602,887 | |
Infrastructure | 219,100 | 1,183,758 | 2,224,785 | |
Real estate | 27,983 | 151,866 | ||
Intercompany eliminations | (153,630) | (151,204) | (148,826) | |
Total segments | S/ 648,061 | S/ 1,657,176 | S/ 2,830,712 |
Segment reporting (Details) -_4
Segment reporting (Details) - Schedule of operating segments financial position - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Assets.- | ||
Cash and cash equivalent | S/ 957,178 | S/ 900,168 |
Trade accounts receivables, net | 590,280 | 687,514 |
Work in progress, net | 309,063 | 186,433 |
Accounts receivable from related parties | 20,817 | 27,338 |
Other accounts receivable | 487,058 | 404,743 |
Inventories, net | 488,326 | 552,000 |
Prepaid expenses | 32,142 | 22,972 |
Total current assets | 2,884,864 | 2,781,168 |
Long-term trade accounts receivable, net | 683,306 | 689,293 |
Long-term accounts receivable from related parties | 643,897 | 620,071 |
Prepaid expenses | 23,607 | 22,264 |
Other long-term accounts receivable | 201,360 | 328,223 |
Investments in associates and joint ventures | 31,173 | 35,516 |
Investment property | 63,011 | 26,073 |
Property, plant and equipment, net | 303,170 | 405,469 |
Intangible assets, net | 743,391 | 791,990 |
Right-of-use assets, net | 47,717 | 64,518 |
Deferred income tax asset | 275,076 | 262,165 |
Total non-current assets | 3,015,708 | 3,245,582 |
Total assets | 5,900,572 | 6,026,750 |
Liabilities.- | ||
Borrowings | 241,340 | 452,884 |
Bonds | 69,838 | 58,446 |
Trade accounts payable | 980,767 | 1,064,416 |
Accounts payable to related parties | 51,004 | 43,818 |
Current income tax | 94,958 | 34,494 |
Other accounts payable | 754,981 | 706,716 |
Provisions | 154,829 | 92,757 |
Total current liabilities | 2,347,717 | 2,453,531 |
Borrowings | 338,560 | 445,436 |
Long-term bonds | 1,191,084 | 874,313 |
Long-term trade accounts payable | 40,502 | |
Other long-term accounts payable | 92,369 | 183,232 |
Long-term accounts payable to related parties | 50,712 | 36,297 |
Provisions | 329,497 | 295,236 |
Deferred income tax liability | 97,367 | 102,907 |
Total non-current liabilities | 2,099,589 | 1,977,923 |
Total liabilities | 4,447,306 | 4,431,454 |
Equity attributable to controlling interest in the Company | 1,199,816 | 1,267,606 |
Non-controlling interest | 253,450 | 327,690 |
Total liabilities and equity | 5,900,572 | 6,026,750 |
Engineering and construction [Member] | ||
Assets.- | ||
Cash and cash equivalent | 303,925 | 382,850 |
Trade accounts receivables, net | 366,299 | 410,286 |
Work in progress, net | 309,063 | 186,433 |
Accounts receivable from related parties | 95,390 | 107,495 |
Other accounts receivable | 390,133 | 294,296 |
Inventories, net | 48,192 | 58,653 |
Prepaid expenses | 15,838 | 7,798 |
Total current assets | 1,528,840 | 1,447,811 |
Long-term trade accounts receivable, net | 851 | 11,663 |
Long-term accounts receivable from related parties | 335,150 | 315,393 |
Prepaid expenses | ||
Other long-term accounts receivable | 10,448 | 134,719 |
Investments in associates and joint ventures | 108,038 | 109,870 |
Investment property | 1,467 | |
Property, plant and equipment, net | 142,228 | 169,091 |
Intangible assets, net | 142,499 | 143,575 |
Right-of-use assets, net | 3,825 | 8,179 |
Deferred income tax asset | 179,319 | 174,269 |
Total non-current assets | 922,358 | 1,068,226 |
Total assets | 2,451,198 | 2,516,037 |
Liabilities.- | ||
Borrowings | 136,512 | 230,682 |
Bonds | 4,896 | 4,546 |
Trade accounts payable | 767,792 | 829,082 |
Accounts payable to related parties | 130,848 | 185,104 |
Current income tax | 59,407 | 26,922 |
Other accounts payable | 560,920 | 513,505 |
Provisions | 70,585 | 8,876 |
Total current liabilities | 1,730,960 | 1,798,717 |
Borrowings | 5,382 | 25,273 |
Long-term bonds | 21,386 | 22,911 |
Long-term trade accounts payable | ||
Other long-term accounts payable | 54,026 | 140,605 |
Long-term accounts payable to related parties | 25,957 | 104,432 |
Provisions | 56,362 | 81,130 |
Deferred income tax liability | 18,665 | 25,576 |
Total non-current liabilities | 181,778 | 399,927 |
Total liabilities | 1,912,738 | 2,198,644 |
Equity attributable to controlling interest in the Company | 524,807 | 261,501 |
Non-controlling interest | 13,653 | 55,892 |
Total liabilities and equity | 2,451,198 | 2,516,037 |
Energy [Member] | ||
Assets.- | ||
Cash and cash equivalent | 121,873 | 60,165 |
Trade accounts receivables, net | 67,662 | 37,614 |
Work in progress, net | ||
Accounts receivable from related parties | 121 | 35 |
Other accounts receivable | 31,092 | 27,900 |
Inventories, net | 35,489 | 36,016 |
Prepaid expenses | 3,575 | 1,964 |
Total current assets | 259,812 | 163,694 |
Long-term trade accounts receivable, net | ||
Long-term accounts receivable from related parties | ||
Prepaid expenses | 981 | 981 |
Other long-term accounts receivable | 86,815 | 70,694 |
Investments in associates and joint ventures | 8,951 | 8,080 |
Investment property | ||
Property, plant and equipment, net | 153,456 | 166,382 |
Intangible assets, net | 257,580 | 250,327 |
Right-of-use assets, net | 3,890 | 9,872 |
Deferred income tax asset | 4,717 | 4,717 |
Total non-current assets | 516,390 | 511,053 |
Total assets | 776,202 | 674,747 |
Liabilities.- | ||
Borrowings | 27,046 | 32,550 |
Bonds | ||
Trade accounts payable | 67,686 | 51,225 |
Accounts payable to related parties | 1,079 | 1,083 |
Current income tax | 15,748 | 1,351 |
Other accounts payable | 23,116 | 12,905 |
Provisions | 25,498 | 18,943 |
Total current liabilities | 160,173 | 118,057 |
Borrowings | 121,693 | 103,154 |
Long-term bonds | ||
Long-term trade accounts payable | ||
Other long-term accounts payable | ||
Long-term accounts payable to related parties | ||
Provisions | 55,279 | 37,599 |
Deferred income tax liability | 31,187 | 36,793 |
Total non-current liabilities | 208,159 | 177,546 |
Total liabilities | 368,332 | 295,603 |
Equity attributable to controlling interest in the Company | 378,653 | 354,982 |
Non-controlling interest | 29,217 | 24,162 |
Total liabilities and equity | 776,202 | 674,747 |
Infrastructure Toll roads [Member] | ||
Assets.- | ||
Cash and cash equivalent | 114,100 | 117,893 |
Trade accounts receivables, net | 38,418 | 25,014 |
Work in progress, net | ||
Accounts receivable from related parties | 48,012 | 31,868 |
Other accounts receivable | 30,057 | 23,631 |
Inventories, net | 7,662 | 8,496 |
Prepaid expenses | 6,531 | 6,485 |
Total current assets | 244,780 | 213,387 |
Long-term trade accounts receivable, net | 15,654 | 15,740 |
Long-term accounts receivable from related parties | 19,700 | 14,508 |
Prepaid expenses | 20,558 | 19,009 |
Other long-term accounts receivable | 531 | |
Investments in associates and joint ventures | ||
Investment property | ||
Property, plant and equipment, net | 7,056 | 9,186 |
Intangible assets, net | 322,625 | 371,437 |
Right-of-use assets, net | 5,308 | 4,626 |
Deferred income tax asset | 21,304 | 5,037 |
Total non-current assets | 412,205 | 440,074 |
Total assets | 656,985 | 653,461 |
Liabilities.- | ||
Borrowings | 3,687 | 2,405 |
Bonds | 36,637 | 32,819 |
Trade accounts payable | 44,210 | 51,221 |
Accounts payable to related parties | 47,340 | 17,738 |
Current income tax | 17,920 | 1,638 |
Other accounts payable | 38,198 | 35,997 |
Provisions | 4,158 | 1,659 |
Total current liabilities | 192,150 | 143,477 |
Borrowings | 1,721 | 2,291 |
Long-term bonds | 215,296 | 248,029 |
Long-term trade accounts payable | ||
Other long-term accounts payable | 8,163 | 11,623 |
Long-term accounts payable to related parties | 1,006 | 836 |
Provisions | 33,188 | 26,034 |
Deferred income tax liability | 1,518 | |
Total non-current liabilities | 259,374 | 290,331 |
Total liabilities | 451,524 | 433,808 |
Equity attributable to controlling interest in the Company | 149,904 | 161,710 |
Non-controlling interest | 55,557 | 57,943 |
Total liabilities and equity | 656,985 | 653,461 |
Infrastructure Transportation [Member] | ||
Assets.- | ||
Cash and cash equivalent | 182,607 | 207,975 |
Trade accounts receivables, net | 106,856 | 111,602 |
Work in progress, net | ||
Accounts receivable from related parties | 4,309 | 2,624 |
Other accounts receivable | 18,734 | 13,220 |
Inventories, net | 31,949 | 31,861 |
Prepaid expenses | 344 | 328 |
Total current assets | 344,799 | 367,610 |
Long-term trade accounts receivable, net | 666,801 | 632,214 |
Long-term accounts receivable from related parties | 42 | |
Prepaid expenses | 1,894 | 2,048 |
Other long-term accounts receivable | ||
Investments in associates and joint ventures | ||
Investment property | ||
Property, plant and equipment, net | 749 | 794 |
Intangible assets, net | 351 | 681 |
Right-of-use assets, net | 61 | 99 |
Deferred income tax asset | ||
Total non-current assets | 669,898 | 635,836 |
Total assets | 1,014,697 | 1,003,446 |
Liabilities.- | ||
Borrowings | 45 | 42 |
Bonds | 24,496 | 21,081 |
Trade accounts payable | 30,637 | 32,637 |
Accounts payable to related parties | 42,185 | 21,531 |
Current income tax | 3,606 | |
Other accounts payable | 9,104 | 6,719 |
Provisions | ||
Total current liabilities | 106,467 | 85,616 |
Borrowings | 15 | 59 |
Long-term bonds | 602,201 | 603,373 |
Long-term trade accounts payable | ||
Other long-term accounts payable | 219 | 231 |
Long-term accounts payable to related parties | 88,213 | 36,297 |
Provisions | 3,039 | 1,925 |
Deferred income tax liability | 47,515 | 39,020 |
Total non-current liabilities | 741,202 | 680,905 |
Total liabilities | 847,669 | 766,521 |
Equity attributable to controlling interest in the Company | 125,271 | 177,694 |
Non-controlling interest | 41,757 | 59,231 |
Total liabilities and equity | 1,014,697 | 1,003,446 |
Infrastructure Water treatment [Member] | ||
Assets.- | ||
Cash and cash equivalent | 7,499 | 7,408 |
Trade accounts receivables, net | 1,003 | 565 |
Work in progress, net | ||
Accounts receivable from related parties | 30 | |
Other accounts receivable | 960 | 197 |
Inventories, net | 13 | |
Prepaid expenses | 52 | 116 |
Total current assets | 9,527 | 8,316 |
Long-term trade accounts receivable, net | ||
Long-term accounts receivable from related parties | 11,536 | 11,103 |
Prepaid expenses | 684 | 736 |
Other long-term accounts receivable | 7,346 | 7,346 |
Investments in associates and joint ventures | ||
Investment property | ||
Property, plant and equipment, net | 181 | 146 |
Intangible assets, net | ||
Right-of-use assets, net | 17 | |
Deferred income tax asset | 644 | 779 |
Total non-current assets | 20,408 | 20,110 |
Total assets | 29,935 | 28,426 |
Liabilities.- | ||
Borrowings | 18 | |
Bonds | ||
Trade accounts payable | 464 | 61 |
Accounts payable to related parties | 19 | |
Current income tax | 347 | 166 |
Other accounts payable | 791 | 766 |
Provisions | ||
Total current liabilities | 1,639 | 993 |
Borrowings | ||
Long-term bonds | ||
Long-term trade accounts payable | ||
Other long-term accounts payable | 2,862 | 2,762 |
Long-term accounts payable to related parties | 24,671 | 24,207 |
Provisions | ||
Deferred income tax liability | ||
Total non-current liabilities | 27,533 | 26,969 |
Total liabilities | 29,172 | 27,962 |
Equity attributable to controlling interest in the Company | 763 | 464 |
Non-controlling interest | ||
Total liabilities and equity | 29,935 | 28,426 |
Real estate [Member] | ||
Assets.- | ||
Cash and cash equivalent | 109,828 | 73,531 |
Trade accounts receivables, net | 9,958 | 38,043 |
Work in progress, net | ||
Accounts receivable from related parties | 3,166 | 1,342 |
Other accounts receivable | 3,783 | 10,446 |
Inventories, net | 366,650 | 418,341 |
Prepaid expenses | ||
Total current assets | 493,385 | 541,703 |
Long-term trade accounts receivable, net | 2,181 | |
Long-term accounts receivable from related parties | ||
Prepaid expenses | ||
Other long-term accounts receivable | 57,243 | 54,237 |
Investments in associates and joint ventures | 5,443 | 6,095 |
Investment property | 22,416 | 24,606 |
Property, plant and equipment, net | 6,845 | 9,592 |
Intangible assets, net | 733 | 872 |
Right-of-use assets, net | 1,888 | 3,936 |
Deferred income tax asset | 16,960 | 18,704 |
Total non-current assets | 111,528 | 120,223 |
Total assets | 604,913 | 661,926 |
Liabilities.- | ||
Borrowings | 69,065 | 95,709 |
Bonds | ||
Trade accounts payable | 30,401 | 42,565 |
Accounts payable to related parties | 19,155 | 19,074 |
Current income tax | 1,058 | |
Other accounts payable | 91,342 | 91,976 |
Provisions | 560 | 492 |
Total current liabilities | 211,581 | 249,816 |
Borrowings | 5,315 | 11,021 |
Long-term bonds | ||
Long-term trade accounts payable | ||
Other long-term accounts payable | 24,427 | 23,357 |
Long-term accounts payable to related parties | ||
Provisions | ||
Deferred income tax liability | ||
Total non-current liabilities | 29,742 | 34,378 |
Total liabilities | 241,323 | 284,194 |
Equity attributable to controlling interest in the Company | 139,728 | 138,933 |
Non-controlling interest | 223,862 | 238,799 |
Total liabilities and equity | 604,913 | 661,926 |
Parent Company operations [Member] | ||
Assets.- | ||
Cash and cash equivalent | 117,346 | 50,346 |
Trade accounts receivables, net | 84 | 64,390 |
Work in progress, net | ||
Accounts receivable from related parties | 52,644 | 102,103 |
Other accounts receivable | 12,297 | 35,051 |
Inventories, net | 360 | |
Prepaid expenses | 5,802 | 6,281 |
Total current assets | 188,173 | 258,531 |
Long-term trade accounts receivable, net | 27,495 | |
Long-term accounts receivable from related parties | 584,596 | 611,498 |
Prepaid expenses | ||
Other long-term accounts receivable | 39,508 | 60,696 |
Investments in associates and joint ventures | 1,559,672 | 1,322,865 |
Investment property | 42,558 | 44,521 |
Property, plant and equipment, net | 1,653 | 16,718 |
Intangible assets, net | 14,575 | 19,017 |
Right-of-use assets, net | 40,789 | 51,401 |
Deferred income tax asset | 47,038 | 53,536 |
Total non-current assets | 2,330,389 | 2,207,747 |
Total assets | 2,518,562 | 2,466,278 |
Liabilities.- | ||
Borrowings | 13,573 | 102,469 |
Bonds | 3,809 | |
Trade accounts payable | 38,894 | 57,625 |
Accounts payable to related parties | 13,623 | 15,708 |
Current income tax | 478 | 811 |
Other accounts payable | 31,510 | 40,252 |
Provisions | 54,028 | 62,787 |
Total current liabilities | 155,915 | 279,652 |
Borrowings | 205,244 | 328,753 |
Long-term bonds | 352,201 | |
Long-term trade accounts payable | 40,502 | |
Other long-term accounts payable | 2,672 | 4,654 |
Long-term accounts payable to related parties | 197,844 | 186,886 |
Provisions | 181,629 | 148,548 |
Deferred income tax liability | ||
Total non-current liabilities | 939,590 | 709,343 |
Total liabilities | 1,095,505 | 988,995 |
Equity attributable to controlling interest in the Company | 1,420,221 | 1,474,398 |
Non-controlling interest | 2,836 | 2,885 |
Total liabilities and equity | 2,518,562 | 2,466,278 |
Eliminations [Member] | ||
Assets.- | ||
Cash and cash equivalent | ||
Trade accounts receivables, net | ||
Work in progress, net | ||
Accounts receivable from related parties | (182,825) | (218,159) |
Other accounts receivable | 2 | 2 |
Inventories, net | (1,629) | (1,727) |
Total current assets | (184,452) | (219,884) |
Long-term trade accounts receivable, net | ||
Long-term accounts receivable from related parties | (307,127) | (332,431) |
Prepaid expenses | (510) | (510) |
Other long-term accounts receivable | ||
Investments in associates and joint ventures | (1,650,931) | (1,411,394) |
Investment property | (1,963) | (44,521) |
Property, plant and equipment, net | (8,998) | 33,560 |
Intangible assets, net | 5,028 | 6,081 |
Right-of-use assets, net | (8,061) | (13,595) |
Deferred income tax asset | 5,094 | 5,123 |
Total non-current assets | (1,967,468) | (1,757,687) |
Total assets | (2,151,920) | (1,977,571) |
Liabilities.- | ||
Borrowings | (8,606) | (10,973) |
Bonds | ||
Trade accounts payable | 683 | |
Accounts payable to related parties | (203,245) | (216,420) |
Current income tax | ||
Other accounts payable | 4,596 | |
Provisions | ||
Total current liabilities | (211,168) | (222,797) |
Borrowings | (810) | (25,115) |
Long-term bonds | ||
Long-term trade accounts payable | ||
Other long-term accounts payable | ||
Long-term accounts payable to related parties | (286,979) | (316,361) |
Provisions | ||
Deferred income tax liability | ||
Total non-current liabilities | (287,789) | (341,476) |
Total liabilities | (498,957) | (564,273) |
Equity attributable to controlling interest in the Company | (1,539,531) | (1,302,076) |
Non-controlling interest | (113,432) | (111,222) |
Total liabilities and equity | S/ (2,151,920) | S/ (1,977,571) |
Segment reporting (Details) -_5
Segment reporting (Details) - Schedule of operating segment performance - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment reporting (Details) - Schedule of operating segment performance [Line Items] | |||
Revenue | S/ 3,946,482 | S/ 3,146,405 | S/ 4,085,004 |
Gross profit (loss) | 395,138 | 310,252 | 441,763 |
Administrative expenses | (179,613) | (134,013) | (213,908) |
Other income and expenses, net | (4,477) | (181,182) | (326,754) |
Operating (loss) profit | 211,048 | (4,943) | (98,899) |
Financial expenses | (262,574) | (146,355) | (231,709) |
Financial income | 5,773 | 39,316 | 74,656 |
Share of profit or loss in associates and joint ventures | (861) | 770 | (218,774) |
(Loss) profit before income tax | (46,614) | (111,212) | (474,726) |
Income tax | (43,700) | (62,208) | (319,957) |
(Loss) profit from continuing operations | (90,314) | (173,420) | (794,683) |
(Loss) from discontinuing operations | (26,774) | (16,924) | (43,959) |
(Loss) profit for the year | (117,088) | (190,344) | (838,642) |
(Loss) profit from attributable to: | |||
Owners of the Company | (153,210) | (217,871) | (884,721) |
Non-controlling interest | 36,122 | 27,527 | 46,079 |
Loss for the period | (117,088) | (190,344) | (838,642) |
Engineering and construction [Member] | |||
Segment reporting (Details) - Schedule of operating segment performance [Line Items] | |||
Revenue | 2,559,071 | 2,092,592 | 2,797,326 |
Gross profit (loss) | 121,058 | 115,995 | 98,362 |
Administrative expenses | (125,094) | (102,985) | (141,421) |
Other income and expenses, net | 40,301 | (43,573) | 9,937 |
Operating (loss) profit | 36,265 | (30,563) | (33,122) |
Financial expenses | (121,712) | (54,173) | (74,171) |
Financial income | 1,870 | 8,792 | 5,644 |
Share of profit or loss in associates and joint ventures | (1,794) | (3,558) | |
(Loss) profit before income tax | (85,371) | (75,944) | (105,207) |
Income tax | (11,435) | (3,614) | (35,457) |
(Loss) profit from continuing operations | (96,806) | (79,558) | (140,664) |
(Loss) profit for the year | (96,806) | (79,558) | (140,664) |
(Loss) profit from attributable to: | |||
Owners of the Company | (93,600) | (76,580) | (137,109) |
Non-controlling interest | (3,206) | (2,978) | (3,555) |
Loss for the period | (96,806) | (79,558) | (140,664) |
Energy [Member] | |||
Segment reporting (Details) - Schedule of operating segment performance [Line Items] | |||
Revenue | 541,859 | 369,798 | 552,584 |
Gross profit (loss) | 110,078 | 53,251 | 108,291 |
Administrative expenses | (14,575) | (16,119) | (24,230) |
Other income and expenses, net | (4,400) | (4,185) | 606 |
Operating (loss) profit | 91,103 | 32,947 | 84,667 |
Financial expenses | (14,705) | (17,525) | (13,266) |
Financial income | 1,034 | 2,239 | 2,033 |
Share of profit or loss in associates and joint ventures | 2,833 | 2,391 | 2,293 |
(Loss) profit before income tax | 80,265 | 20,052 | 75,727 |
Income tax | (22,469) | (7,500) | (22,911) |
(Loss) profit from continuing operations | 57,796 | 12,552 | 52,816 |
(Loss) profit for the year | 57,796 | 12,552 | 52,816 |
(Loss) profit from attributable to: | |||
Owners of the Company | 51,294 | 9,176 | 48,056 |
Non-controlling interest | 6,502 | 3,376 | 4,760 |
Loss for the period | 57,796 | 12,552 | 52,816 |
Infrastructure Toll roads [Member] | |||
Segment reporting (Details) - Schedule of operating segment performance [Line Items] | |||
Revenue | 515,382 | 466,824 | 633,301 |
Gross profit (loss) | 81,964 | 40,858 | 96,164 |
Administrative expenses | (14,460) | (16,584) | (28,623) |
Other income and expenses, net | (3,683) | (79,576) | (47,998) |
Operating (loss) profit | 63,821 | (55,302) | 19,543 |
Financial expenses | (29,442) | (32,376) | (27,297) |
Financial income | 2,544 | 4,326 | 2,245 |
(Loss) profit before income tax | 36,923 | (83,352) | (5,509) |
Income tax | (10,012) | (13,477) | (17,112) |
(Loss) profit from continuing operations | 26,911 | (96,829) | (22,621) |
(Loss) profit for the year | 26,911 | (96,829) | (22,621) |
(Loss) profit from attributable to: | |||
Owners of the Company | 15,946 | (88,865) | (28,270) |
Non-controlling interest | 10,965 | (7,964) | 5,649 |
Loss for the period | 26,911 | (96,829) | (22,621) |
Infrastructure Transportation [Member] | |||
Segment reporting (Details) - Schedule of operating segment performance [Line Items] | |||
Revenue | 348,915 | 345,258 | 397,853 |
Gross profit (loss) | 81,993 | 107,918 | 119,464 |
Administrative expenses | (14,267) | (12,738) | (17,991) |
Other income and expenses, net | 1,537 | 72 | (2,661) |
Operating (loss) profit | 69,263 | 95,252 | 98,812 |
Financial expenses | (8,298) | (9,316) | (10,948) |
Financial income | 520 | 1,586 | 33,214 |
(Loss) profit before income tax | 61,485 | 87,522 | 121,078 |
Income tax | (19,382) | (26,681) | (39,634) |
(Loss) profit from continuing operations | 42,103 | 60,841 | 81,444 |
(Loss) profit for the year | 42,103 | 60,841 | 81,444 |
(Loss) profit from attributable to: | |||
Owners of the Company | 31,577 | 45,631 | 61,084 |
Non-controlling interest | 10,526 | 15,210 | 20,360 |
Loss for the period | 42,103 | 60,841 | 81,444 |
Infrastructure Water treatment [Member] | |||
Segment reporting (Details) - Schedule of operating segment performance [Line Items] | |||
Revenue | 3,650 | 3,359 | 3,555 |
Gross profit (loss) | 1,322 | 366 | 500 |
Administrative expenses | (449) | (289) | (397) |
Other income and expenses, net | 4 | 42 | 12 |
Operating (loss) profit | 877 | 119 | 115 |
Financial expenses | (124) | (275) | (12) |
Financial income | 510 | 897 | 826 |
(Loss) profit before income tax | 1,263 | 741 | 929 |
Income tax | (500) | (277) | (506) |
(Loss) profit from continuing operations | 763 | 464 | 423 |
(Loss) profit for the year | 763 | 464 | 423 |
(Loss) profit from attributable to: | |||
Owners of the Company | 763 | 464 | 423 |
Loss for the period | 763 | 464 | 423 |
Real estate [Member] | |||
Segment reporting (Details) - Schedule of operating segment performance [Line Items] | |||
Revenue | 239,391 | 182,439 | 264,401 |
Gross profit (loss) | 42,025 | 40,345 | 70,787 |
Administrative expenses | (14,911) | (16,462) | (22,045) |
Other income and expenses, net | 1,337 | 1,962 | 20,020 |
Operating (loss) profit | 28,451 | 25,845 | 68,762 |
Financial expenses | (11,947) | (12,647) | (42,320) |
Financial income | 2,269 | 4,584 | 3,829 |
Share of profit or loss in associates and joint ventures | 831 | 34 | 458 |
(Loss) profit before income tax | 19,604 | 17,816 | 30,729 |
Income tax | (6,644) | (2,854) | (7,000) |
(Loss) profit from continuing operations | 12,960 | 14,962 | 23,729 |
(Loss) profit for the year | 12,960 | 14,962 | 23,729 |
(Loss) profit from attributable to: | |||
Owners of the Company | 794 | 1,391 | (4,995) |
Non-controlling interest | 12,166 | 13,571 | 28,724 |
Loss for the period | 12,960 | 14,962 | 23,729 |
Parent company operations [Member] | |||
Segment reporting (Details) - Schedule of operating segment performance [Line Items] | |||
Revenue | 67,202 | 71,197 | 87,476 |
Gross profit (loss) | 3,372 | (2,344) | (2,168) |
Administrative expenses | (46,193) | (23,647) | (40,402) |
Other income and expenses, net | (38,705) | (55,984) | (305,749) |
Operating (loss) profit | (81,526) | (81,975) | (348,319) |
Financial expenses | (118,676) | (48,371) | (101,914) |
Financial income | 40,740 | 47,402 | 73,832 |
Dividends | 20,008 | 7,222 | 12,688 |
Share of profit or loss in associates and joint ventures | 32,638 | (105,888) | (711,962) |
(Loss) profit before income tax | (106,816) | (181,610) | (1,075,675) |
Income tax | 26,808 | (7,768) | (196,219) |
(Loss) profit from continuing operations | (80,008) | (189,378) | (1,271,894) |
(Loss) from discontinuing operations | (26,716) | (16,919) | (42,857) |
(Loss) profit for the year | (106,724) | (206,297) | (1,314,751) |
(Loss) profit from attributable to: | |||
Owners of the Company | (106,677) | (206,257) | (1,304,676) |
Non-controlling interest | (47) | (40) | (10,075) |
Loss for the period | (106,724) | (206,297) | (1,314,751) |
Eliminations [Member] | |||
Segment reporting (Details) - Schedule of operating segment performance [Line Items] | |||
Revenue | (328,988) | (385,062) | (651,492) |
Gross profit (loss) | (46,674) | (46,137) | (49,637) |
Administrative expenses | 50,336 | 54,811 | 61,201 |
Other income and expenses, net | (868) | 60 | (921) |
Operating (loss) profit | 2,794 | 8,734 | 10,643 |
Financial expenses | 42,330 | 28,328 | 38,219 |
Financial income | (43,714) | (30,510) | (46,967) |
Dividends | (20,008) | (7,222) | (12,688) |
Share of profit or loss in associates and joint ventures | (35,369) | 104,233 | 493,995 |
(Loss) profit before income tax | (53,967) | 103,563 | 483,202 |
Income tax | (66) | (37) | (1,118) |
(Loss) profit from continuing operations | (54,033) | 103,526 | 482,084 |
(Loss) from discontinuing operations | (58) | (5) | (1,102) |
(Loss) profit for the year | (54,091) | 103,521 | 480,982 |
(Loss) profit from attributable to: | |||
Owners of the Company | (53,307) | 97,169 | 480,766 |
Non-controlling interest | (784) | 6,352 | 216 |
Loss for the period | S/ (54,091) | S/ 103,521 | S/ 480,982 |
Segment reporting (Details) -_6
Segment reporting (Details) - Schedule of segments geographical area - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment reporting (Details) - Schedule of segments geographical area [Line Items] | |||
Revenues | S/ 3,946,482 | S/ 3,146,405 | S/ 4,085,004 |
Non-current assets | 3,015,708 | 3,245,582 | 3,351,734 |
Peru [Member] | |||
Segment reporting (Details) - Schedule of segments geographical area [Line Items] | |||
Revenues | 3,255,214 | 2,477,435 | 3,499,074 |
Non-current assets | 2,757,633 | 2,892,369 | 2,992,173 |
Chile [Member] | |||
Segment reporting (Details) - Schedule of segments geographical area [Line Items] | |||
Revenues | 585,317 | 514,907 | 344,169 |
Non-current assets | 159,309 | 245,727 | 235,803 |
Colombia [Member] | |||
Segment reporting (Details) - Schedule of segments geographical area [Line Items] | |||
Revenues | 105,951 | 151,876 | 241,761 |
Non-current assets | 98,766 | 107,486 | 123,758 |
Mexico [Member] | |||
Segment reporting (Details) - Schedule of segments geographical area [Line Items] | |||
Revenues | S/ 2,187 |
Financial Instruments (Details)
Financial Instruments (Details) - Summary of financial assets and liabilities by category S/ in Thousands, $ in Thousands | Dec. 31, 2021PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2019PEN (S/) |
Financial assets according to the statement of financial position | |||||
- Cash and cash equivalents | S/ | S/ 957,178 | S/ 900,168 | |||
- Trade accounts receivable and other accounts receivable (excluding non-financial assets) | S/ | 1,177 | 12,318 | S/ 5,704 | ||
Financial assets | S/ | 175,087 | 176,927 | |||
Other financial liabilities at amortized cost: | |||||
- Other financial liabilities | 5,773 | $ 512,947 | 39,316 | $ 295,120 | S/ 74,656 |
- Lease liability for right-of-use asset | S/ | 60,507 | 72,726 | |||
- Bonds | S/ | 69,838 | 58,446 | |||
Financial liabilities | S/ 9,836 | 3,121,368 | S/ 52,391 | 3,314,268 | |
- Other provisions | 576,194 | 534,207 | |||
Financial liabilities at amortised cost, category [member] | |||||
Other financial liabilities at amortized cost: | |||||
- Other financial liabilities | 509,557 | 773,203 | |||
- Finance leases | 9,836 | 52,391 | |||
- Lease liability for right-of-use asset | 60,507 | 72,726 | |||
- Bonds | 1,260,922 | 932,759 | |||
- Trade and other accounts payable(excluding non-financial liabilities) | 1,178,830 | 1,403,074 | |||
- Accounts payable to related parties | 101,716 | 80,115 | |||
Loans and receivables, category [member] | |||||
Financial assets according to the statement of financial position | |||||
- Cash and cash equivalents | 957,178 | 900,168 | |||
- Trade accounts receivable and other accounts receivable (excluding non-financial assets) | 974,196 | 1,092,763 | |||
- Financial assets related to concession agreements | 814,293 | 775,677 | |||
- Accounts receivable from related parties | 664,714 | 647,409 | |||
Financial assets | $ 3,410,381 | $ 3,416,017 |
Financial Instruments (Detail_2
Financial Instruments (Details) - Summary of credit quality of financial assets - Financial assets neither past due nor impaired [member] - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | S/ 954,020 | S/ 896,832 |
Banco Santander Chile[Member] | AAA [Member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | 32,835 | 17,174 |
Banco de la Nacion [Member] | (A) [Member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | 22,627 | 22,882 |
Banco de Bogota [Member] | (BB+) [Member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | 13,950 | 12,194 |
Banco Santander Perú S.A.[Member] | A + [member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | 2,878 | 54,478 |
Banco Interamericano de Finanzas S.A. [Member] | A + [member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | 2,114 | 277 |
Banco Pichincha S.A.A. [Member] | (A) [Member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | 2,045 | 2 |
Scotiabank Chile [Member] | A + [member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | 1,566 | 2,114 |
Bancolombia S.A. [Member] | AAA [Member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | 937 | 8,516 |
Banco Santander de Negocios Colombia S.A. [Member] | AAA [Member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | 139 | 18,256 |
Banco de Credito e Inversiones Chile [Member] | AAA [Member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | 112 | 8,579 |
Alianza Fiduciaria S.A. [Member] | AA+ [Member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | 51 | 21,247 |
Others [Member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | 2,426 | 5,374 |
Banco de Credito del Peru S.A. [Member] | A + [member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | 492,076 | 351,515 |
Citibank del Peru S.A.[Member] | A + [member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | 110,232 | 128,100 |
Banco BBVA Peru S.A.[Member] | A + [member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | 109,344 | 147,868 |
Scotiabank Peru S.A.A.[Member] | A + [member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | 83,192 | 52,448 |
Banco Internacional del Peru S.A.A.[Member] | A + [member] | |||
Cash and cash equivalents (*) | |||
Cash and cash equivalents | [1] | S/ 77,497 | S/ 45,808 |
[1] | The difference between the balances shown and the balances of the statement of financial position correspond to cash and remittances in transit (Note 9). |
Financial Instruments (Detail_3
Financial Instruments (Details) - Summary of credit quality of customers S/ in Thousands, $ in Thousands | Dec. 31, 2021PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2019PEN (S/) |
Trade accounts receivable (Note 10) | |||||
Trade accounts receivable | S/ | S/ 1,061 | S/ 19,772 | S/ 955 | ||
Receivable from related parties and joint operators (Note 12) | |||||
Receivable from related parties | S/ | S/ 643,897 | S/ 620,071 | |||
A [Member] | |||||
Trade accounts receivable (Note 10) | |||||
Trade accounts receivable | $ 28,156 | $ 40,034 | |||
B [Member] | |||||
Trade accounts receivable (Note 10) | |||||
Trade accounts receivable | 1,234,437 | 1,218,497 | |||
C [Member] | |||||
Trade accounts receivable (Note 10) | |||||
Trade accounts receivable | 10,993 | 118,276 | |||
B [Member] | |||||
Receivable from related parties and joint operators (Note 12) | |||||
Receivable from related parties | 664,714 | 647,409 | |||
Trade receivables [member] | |||||
Trade accounts receivable (Note 10) | |||||
Trade accounts receivable | $ 1,273,586 | $ 1,376,807 |
Cash and Cash Equivalents (Deta
Cash and Cash Equivalents (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Bottom of range [member] | |
Cash and Cash Equivalents (Details) [Line Items] | |
Time deposit interest rate | 0.26% |
Top of range [member] | |
Cash and Cash Equivalents (Details) [Line Items] | |
Time deposit interest rate | 1.75% |
Cash and Cash Equivalents (De_2
Cash and Cash Equivalents (Details) - Schedule of Disclosure of Savings Account - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash and Cash Equivalents (Details) - Schedule of Disclosure of Savings Account [Line Items] | |||
Cash on hand | S/ 936 | S/ 996 | |
Remittances in-transit | 2,222 | 2,340 | |
Bank accounts | |||
Bank accounts | 367,240 | 286,392 | |
Escrow account (b) | |||
Escrow account | [1] | 586,780 | 610,440 |
Total Cash and Cash equivalents | 957,178 | 900,168 | |
Current accounts [Member] | |||
Bank accounts | |||
Bank accounts | 142,029 | 161,227 | |
Banco de la Nacion [Member] | |||
Bank accounts | |||
Bank accounts | 19,847 | 20,862 | |
Savings deposits and mutual funds [Member] | |||
Bank accounts | |||
Bank accounts | 62 | 9,038 | |
Time deposits [Member] | |||
Bank accounts | |||
Bank accounts | [2] | 205,302 | 95,265 |
Operational funds [Member] | |||
Escrow account (b) | |||
Escrow account | [1] | 261,001 | 298,435 |
Reserve funds [Member] | |||
Escrow account (b) | |||
Escrow account | [1] | 163,939 | 144,737 |
Consortium funds [Member] | |||
Escrow account (b) | |||
Escrow account | [1] | 78,589 | 122,088 |
Guarantee funds [Member] | |||
Escrow account (b) | |||
Escrow account | [1] | S/ 83,251 | S/ 45,180 |
[1] | The Corporation maintains trust accounts in local and foreign banks classified as: i) operating funds and consortium funds that are for the exclusive use of projects; and ii) reserve and guarantee funds that are intended to meet the payment of bonds issued and other obligations of the Corporation. | ||
[2] | Time deposits have maturities less than 90 days and may be renewed upon maturity. These deposits earn interest that fluctuates between 0.26% and 1.75%. |
Cash and Cash Equivalents (De_3
Cash and Cash Equivalents (Details) - Schedule of Time Deposits from Subsidiaries - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2021 | |
Cash and Cash Equivalents (Details) - Schedule of Time Deposits from Subsidiaries [Line Items] | ||
Time deposit | S/ 95,265 | S/ 205,302 |
AENZA S.A.A. [Member] | ||
Cash and Cash Equivalents (Details) - Schedule of Time Deposits from Subsidiaries [Line Items] | ||
Financial entites | Banco de Credito del Peru S.A. | |
Interest rate | 0.26% | |
Time deposit | S/ 6,500 | 100,583 |
Tren Urbano de Lima S.A. [Member] | ||
Cash and Cash Equivalents (Details) - Schedule of Time Deposits from Subsidiaries [Line Items] | ||
Financial entites | Banco de Credito del Peru S.A. | |
Interest rate | 1.70% | |
Time deposit | S/ 65,000 | 55,000 |
Unna Energia S.A. [Member] | ||
Cash and Cash Equivalents (Details) - Schedule of Time Deposits from Subsidiaries [Line Items] | ||
Financial entites | Banco Internacional del Peru S.A.A. | |
Interest rate | 0.35% | |
Time deposit | 32,197 | |
Unna Energia S.A. [Member] | ||
Cash and Cash Equivalents (Details) - Schedule of Time Deposits from Subsidiaries [Line Items] | ||
Financial entites | Banco de Credito del Peru S.A. | |
Interest rate | 0.30% | |
Time deposit | S/ 905 | 11,130 |
Concesionaria La Chira S.A. [Member] | ||
Cash and Cash Equivalents (Details) - Schedule of Time Deposits from Subsidiaries [Line Items] | ||
Financial entites | Banco BBVA Peru S.A. | |
Interest rate | 1.65% | |
Time deposit | S/ 6,250 | 4,000 |
Cumbra Ingenieria S.A. [Member] | ||
Cash and Cash Equivalents (Details) - Schedule of Time Deposits from Subsidiaries [Line Items] | ||
Financial entites | Banco de Credito del Peru S.A. | |
Interest rate | 1.75% | |
Time deposit | S/ 2,392 | |
Red Vial 5 S.A. [Member] | ||
Cash and Cash Equivalents (Details) - Schedule of Time Deposits from Subsidiaries [Line Items] | ||
Financial entites | Banco de Credito del Peru S.A. | |
Interest rate | 0.25% | |
Time deposit | S/ 7,429 | |
Carretera Andina del Sur S.A.C [Member] | ||
Cash and Cash Equivalents (Details) - Schedule of Time Deposits from Subsidiaries [Line Items] | ||
Financial entites | Banco de Credito del Peru S.A. | |
Interest rate | 0.15% | |
Time deposit | S/ 4,800 | |
Carretera Sierra Piura S.A.C. [Member] | ||
Cash and Cash Equivalents (Details) - Schedule of Time Deposits from Subsidiaries [Line Items] | ||
Financial entites | Banco de Credito del Peru S.A. | |
Interest rate | 0.25% | |
Time deposit | S/ 4,381 |
Trade Accounts Receivables, N_3
Trade Accounts Receivables, Net (Details) | Dec. 31, 2021 |
Disclosure of trade and other receivables [text block] [Abstract] | |
Accrued interest rate on unbilled receivables | 7.70% |
Trade Accounts Receivables, N_4
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivables net - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivables net [Line Items] | ||
Trade Receivables | S/ 1,273,586 | S/ 1,376,807 |
Trade accounts receivable, Current | 590,280 | 687,514 |
Trade accounts receivable, Non-current | 683,306 | 689,293 |
Trade Receivables, net [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivables net [Line Items] | ||
Trade Receivables | 773,575 | 753,693 |
Trade accounts receivable, Current | 269,427 | 254,587 |
Trade accounts receivable, Non-current | 504,148 | 499,106 |
Unbilled receivables - Subsidiaries [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivables net [Line Items] | ||
Trade Receivables | 209,258 | 356,338 |
Trade accounts receivable, Current | 209,258 | 321,591 |
Trade accounts receivable, Non-current | 34,747 | |
Unbilled receivables - Concessions [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivables net [Line Items] | ||
Trade Receivables | 290,753 | 266,776 |
Trade accounts receivable, Current | 111,595 | 111,336 |
Trade accounts receivable, Non-current | S/ 179,158 | S/ 155,440 |
Trade Accounts Receivables, N_5
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivable corresponds - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivable corresponds [Line Items] | ||
Trade account receivable | S/ 773,575 | S/ 753,693 |
Contractual right | 1,273,586 | 1,376,807 |
Tren Urbano de Lima S.A. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivable corresponds [Line Items] | ||
Trade account receivable | 773,657 | 743,816 |
Cumbra Peru S.A. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivable corresponds [Line Items] | ||
Trade account receivable | 323,455 | 378,784 |
Unna Energia S.A.[Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivable corresponds [Line Items] | ||
Trade account receivable | 67,662 | 37,614 |
Cumbra Ingenieria S.A. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivable corresponds [Line Items] | ||
Trade account receivable | 43,695 | 43,165 |
Red Vial 5 S.A. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivable corresponds [Line Items] | ||
Trade account receivable | 22,458 | 15,572 |
Unna Transporte S.A.C. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivable corresponds [Line Items] | ||
Trade account receivable | 14,439 | 9,458 |
Carretera Andina del Sur S.A.C. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivable corresponds [Line Items] | ||
Trade account receivable | 12,686 | 10,631 |
Viva Negocio Inmobiliario S.A. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivable corresponds [Line Items] | ||
Trade account receivable | 9,958 | 40,224 |
Carretera Sierra Piura S.A.C. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivable corresponds [Line Items] | ||
Trade account receivable | 4,489 | 5,093 |
Concesionaria La Chira S.A. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivable corresponds [Line Items] | ||
Trade account receivable | 1,003 | 565 |
Adexus S.A. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivable corresponds [Line Items] | ||
Trade account receivable | 91,669 | |
Others [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of trade accounts receivable corresponds [Line Items] | ||
Trade account receivable | S/ 84 | S/ 216 |
Trade Accounts Receivables, N_6
Trade Accounts Receivables, Net (Details) - Schedule of commercial receivables net - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Trade Accounts Receivables, Net (Details) - Schedule of commercial receivables net [Line Items] | ||
Trade account receivable | S/ 773,575 | S/ 753,693 |
Current [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of commercial receivables net [Line Items] | ||
Trade account receivable | 683,921 | 718,220 |
Past due up to 30 days [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of commercial receivables net [Line Items] | ||
Trade account receivable | 41,222 | 5,737 |
Past due from 31 days up to 90 days [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of commercial receivables net [Line Items] | ||
Trade account receivable | 11,668 | 6,801 |
Past due from 91 days up to 120 days [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of commercial receivables net [Line Items] | ||
Trade account receivable | 15,814 | 2,279 |
Past due from 121 days up to 360 days [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of commercial receivables net [Line Items] | ||
Trade account receivable | 7,070 | 4,185 |
Past due over 360 days [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of commercial receivables net [Line Items] | ||
Trade account receivable | S/ 13,880 | S/ 16,471 |
Trade Accounts Receivables, N_7
Trade Accounts Receivables, Net (Details) - Schedule of unbilled receivables of subsidiaries - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Trade Accounts Receivables, Net (Details) - Schedule of unbilled receivables of subsidiaries [Line Items] | ||
Unbilled receivables | S/ 209,258 | S/ 356,338 |
Cumbra Peru S.A. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of unbilled receivables of subsidiaries [Line Items] | ||
Unbilled receivables | 170,063 | 258,852 |
Cumbra Ingenieria S.A. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of unbilled receivables of subsidiaries [Line Items] | ||
Unbilled receivables | 24,177 | 25,823 |
Unna Transporte S.A.C. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of unbilled receivables of subsidiaries [Line Items] | ||
Unbilled receivables | 10,291 | 6,298 |
Unna Energia S.A. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of unbilled receivables of subsidiaries [Line Items] | ||
Unbilled receivables | 4,718 | 1,512 |
Adexus S.A. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of unbilled receivables of subsidiaries [Line Items] | ||
Unbilled receivables | 63,853 | |
Others [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of unbilled receivables of subsidiaries [Line Items] | ||
Unbilled receivables | S/ 9 |
Trade Accounts Receivables, N_8
Trade Accounts Receivables, Net (Details) - Schedule of unbilled receivables of subsidiaries grouped - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Infrastructure [member] | ||
Infrastructure | ||
Trade accounts receivable | S/ 10,291 | S/ 6,298 |
Operation and maintenance of roads [Member] | Infrastructure [member] | ||
Infrastructure | ||
Trade accounts receivable | 9,192 | 4,167 |
Others [Member] | Infrastructure [member] | ||
Infrastructure | ||
Trade accounts receivable | 1,099 | 2,131 |
Others [Member] | Unbilled receivables subsidiaries [Member] | ||
Infrastructure | ||
Trade accounts receivable | 24,332 | 87,749 |
Energy [Member] | Infrastructure [member] | ||
Infrastructure | ||
Trade accounts receivable | 4,718 | 1,512 |
Cumbra Peru S.A. - Concentrator Plant and tunnel of Quellaveco [Member] | Unbilled receivables subsidiaries [Member] | ||
Infrastructure | ||
Trade accounts receivable | 50,148 | 84,014 |
Cumbra Peru S.A. - Talara Refinery [Member] | Unbilled receivables subsidiaries [Member] | ||
Infrastructure | ||
Trade accounts receivable | 43,677 | 28,956 |
Vial y Vives - DSD S.A. - Engineering and Construction Works [Member] | Unbilled receivables subsidiaries [Member] | ||
Infrastructure | ||
Trade accounts receivable | 40,714 | 43,159 |
Cumbra Peru S.A. - Gasoducto Piura Project [Member] | Unbilled receivables subsidiaries [Member] | ||
Infrastructure | ||
Trade accounts receivable | 13,220 | |
Cumbra Peru S.A. - Works and Consortiums [Member] | Unbilled receivables subsidiaries [Member] | ||
Infrastructure | ||
Trade accounts receivable | 12,080 | 6,576 |
Morelco S.A.S. - Engineering and Construction Works [Member] | Unbilled receivables subsidiaries [Member] | ||
Infrastructure | ||
Trade accounts receivable | 5,751 | 16,066 |
Cumbra Ingenieria S.A. - Mina Gold Fields La Cima S.A. Project [Member] | Unbilled receivables subsidiaries [Member] | ||
Infrastructure | ||
Trade accounts receivable | 3,872 | 15,055 |
Cumbra Ingenieria S.A. - Mina Justa Project [Member] | Unbilled receivables subsidiaries [Member] | ||
Infrastructure | ||
Trade accounts receivable | 446 | 1,743 |
Cumbra Peru S.A. - Civil Works, Assembly and Electromechanics - Acero Arequipa [Member] | Unbilled receivables subsidiaries [Member] | ||
Infrastructure | ||
Trade accounts receivable | 1,357 | |
Other total [Member] | Unbilled receivables subsidiaries [Member] | ||
Infrastructure | ||
Trade accounts receivable | 194,240 | 284,675 |
Parent company operations [Member] | Unbilled receivables subsidiaries [Member] | ||
Infrastructure | ||
Trade accounts receivable | 9 | 63,853 |
Parent Company Operation total [Member] | Unbilled receivables subsidiaries [Member] | ||
Infrastructure | ||
Trade accounts receivable | S/ 209,258 | S/ 356,338 |
Trade Accounts Receivables, N_9
Trade Accounts Receivables, Net (Details) - Schedule of unbilled receivables of concessions corresponds to future collections for public services granted according to the financial model - Unbilled Receivables Concessions [Member] - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Trade Accounts Receivables, Net (Details) - Schedule of unbilled receivables of concessions corresponds to future collections for public services granted according to the financial model [Line Items] | ||
Trade accounts receivable | S/ 290,753 | S/ 266,776 |
Tren Urbano de Lima S.A. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of unbilled receivables of concessions corresponds to future collections for public services granted according to the financial model [Line Items] | ||
Trade accounts receivable | 256,526 | 235,763 |
Carretera Andina del Sur S.A.C [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of unbilled receivables of concessions corresponds to future collections for public services granted according to the financial model [Line Items] | ||
Trade accounts receivable | 12,667 | 10,611 |
Red Vial 5 S.A. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of unbilled receivables of concessions corresponds to future collections for public services granted according to the financial model [Line Items] | ||
Trade accounts receivable | 16,451 | 15,436 |
Carretera Sierra Piura S.A.C. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of unbilled receivables of concessions corresponds to future collections for public services granted according to the financial model [Line Items] | ||
Trade accounts receivable | 4,489 | 4,401 |
Concesionaria La Chira S.A. [Member] | ||
Trade Accounts Receivables, Net (Details) - Schedule of unbilled receivables of concessions corresponds to future collections for public services granted according to the financial model [Line Items] | ||
Trade accounts receivable | S/ 620 | S/ 565 |
Trade Accounts Receivables, _10
Trade Accounts Receivables, Net (Details) - Schedule of fair value and carrying amount - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Schedule of fair value and carrying amount [Abstract] | ||
Carrying amount | S/ 605,775 | S/ 590,092 |
Fair value | S/ 624,137 | S/ 783,643 |
Trade Accounts Receivables, _11
Trade Accounts Receivables, Net (Details) - Schedule of movement of impairment in trade accounts receivable - PEN (S/) S/ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Schedule of movement of impairment in trade accounts receivable [Abstract] | ||||
Balance | S/ (56,630) | S/ (8,422) | S/ (7,633) | |
Impairment, net (Note 26.iii) | (1,061) | (19,772) | (955) | |
Impairment, net (Note 28.b) | 84 | (33,874) | ||
Write-off | [1] | 8,340 | 5,653 | 12 |
Exchange difference | (336) | (212) | 37 | |
Translation adjustments | (1) | (3) | 117 | |
Balance | S/ (49,604) | S/ (56,630) | S/ (8,422) | |
[1] | In 2021, corresponds mainly to the write-offs generated in Cumbra Peru for S/4.2 million, Tren Urbano de Lima S.A. for S/3.5 million, and others for S/0.6 million (in 2020, Cumbra Peru for S/5.7 million). |
Work in Progress, Net (Details)
Work in Progress, Net (Details) - Schedule of work in progress - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Work in Progress, Net (Details) - Schedule of work in progress [Line Items] | ||
work in progress, net | S/ 309,063 | S/ 186,433 |
Cumbra Peru S.A. [Member] | ||
Work in Progress, Net (Details) - Schedule of work in progress [Line Items] | ||
work in progress, net | 304,940 | 170,965 |
Cumbra Ingenieria S.A. [Member] | ||
Work in Progress, Net (Details) - Schedule of work in progress [Line Items] | ||
work in progress, net | S/ 4,123 | S/ 15,468 |
Work in Progress, Net (Detail_2
Work in Progress, Net (Details) - Schedule of work in progress grouped by the main projects - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Work in Progress, Net (Details) - Schedule of work in progress grouped by the main projects [Line Items] | ||
Billed work in progress | S/ 309,063 | S/ 186,433 |
Vial y Vives - DSD S.A. - Modernization and expansion of Arauco Plant [Member] | ||
Work in Progress, Net (Details) - Schedule of work in progress grouped by the main projects [Line Items] | ||
Billed work in progress | 139,025 | 24,224 |
Vial y Vives - DSD S.A. - Quebrada Blanca Project [Member] | ||
Work in Progress, Net (Details) - Schedule of work in progress grouped by the main projects [Line Items] | ||
Billed work in progress | 64,777 | 73,337 |
Cumbra Peru S.A. - Concentrator Plant and tunnel of Quellaveco [Member] | ||
Work in Progress, Net (Details) - Schedule of work in progress grouped by the main projects [Line Items] | ||
Billed work in progress | 82,253 | 68,701 |
Cumbra Peru S.A. - Jorge Chavez Airport [Member] | ||
Work in Progress, Net (Details) - Schedule of work in progress grouped by the main projects [Line Items] | ||
Billed work in progress | 16,602 | |
Cumbra Peru S.A. - Talara Refinery [Member] | ||
Work in Progress, Net (Details) - Schedule of work in progress grouped by the main projects [Line Items] | ||
Billed work in progress | 15,468 | |
Others [Member] | ||
Work in Progress, Net (Details) - Schedule of work in progress grouped by the main projects [Line Items] | ||
Billed work in progress | S/ 6,406 | S/ 4,703 |
Transactions With Related Par_3
Transactions With Related Parties And Joint Operators (Details) S/ in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | ||||
Nov. 17, 2021PEN (S/) | Dec. 31, 2021PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2019PEN (S/) | |
Disclosure of related party [text block] [Abstract] | ||||||
Compensation paid | S/ 23.3 | S/ 22.7 | S/ 28.0 | |||
Non current account receivable | S/ 400.0 | |||||
Discount rate | 2.73% | 1.60% | ||||
Value of discount | S/ 77.0 | S/ 364.0 | ||||
Equivalent of present value (in Dollars) | S/ 24.5 | $ 20 | $ 12 | |||
Fair value equivalent | 43 | |||||
Accounts receivable from GSP | 321 | 299 | ||||
Accounts receivable from GSP | 289 | 267 | ||||
Receivables from CCDS | S/ 32.0 | S/ 32.0 |
Transactions With Related Par_4
Transactions With Related Parties And Joint Operators (Details) - Schedule of transactions with related parties - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of transactions with related parties [Abstract] | |||
- Joint operations | S/ 22,374 | S/ 15,903 | S/ 44,130 |
- Associates | 5 | 108 | |
Revenue from sales of goods and services, total | 22,374 | 15,908 | 44,238 |
- Joint operations | 1,765 | ||
- Associates | 4,478 | 1,225 | |
Purchase of goods and services, total | S/ 4,478 | S/ 1,225 | S/ 1,765 |
Transactions With Related Par_5
Transactions With Related Parties And Joint Operators (Details) - Schedule of key management compensation - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Joint operations | ||
Receivable Current portion | S/ 18,106 | S/ 25,378 |
Payable Current portion | 33,884 | 30,002 |
Consorcio Rio Urubamba [Member] | ||
Joint operations | ||
Receivable Current portion | 9,792 | 9,357 |
Payable Current portion | ||
Consorcio Inti Punku [Member] | ||
Joint operations | ||
Receivable Current portion | 1,865 | |
Payable Current portion | 1,733 | 6,556 |
Consorcio GyM – CONCIVILES [Member] | ||
Joint operations | ||
Receivable Current portion | 1,479 | 1,341 |
Payable Current portion | 1,074 | 1,472 |
Consorcio Italo Peruano [Member] | ||
Joint operations | ||
Receivable Current portion | 1,394 | 1,520 |
Payable Current portion | 106 | 217 |
Consorcio Manperan [Member] | ||
Joint operations | ||
Receivable Current portion | 1,389 | 1,057 |
Payable Current portion | 4,968 | 656 |
Consorcio Ermitaño [Member] | ||
Joint operations | ||
Receivable Current portion | 1,028 | 890 |
Payable Current portion | 515 | 474 |
Consorcio Peruano de Conservacion [Member] | ||
Joint operations | ||
Receivable Current portion | 654 | 3,156 |
Payable Current portion | 2,392 | |
Consorcio Norte Pachacutec [Member] | ||
Joint operations | ||
Receivable Current portion | 125 | 1,077 |
Payable Current portion | 282 | 1,192 |
Terminales del Peru [Member] | ||
Joint operations | ||
Receivable Current portion | 92 | 501 |
Payable Current portion | 399 | 161 |
Consorcio Constructor Chavimochic [Member] | ||
Joint operations | ||
Receivable Current portion | ||
Payable Current portion | 9,301 | 6,208 |
Consorcio Rio Mantaro [Member] | ||
Joint operations | ||
Receivable Current portion | ||
Payable Current portion | 7,043 | 7,655 |
Consorcio Vial Quinua [Member] | ||
Joint operations | ||
Receivable Current portion | ||
Payable Current portion | 1,947 | 2,051 |
Consorcio Chicama - Ascope [Member] | ||
Joint operations | ||
Receivable Current portion | 2,922 | |
Payable Current portion | ||
Consorcio CDEM [Member] | ||
Joint operations | ||
Receivable Current portion | 1,111 | |
Payable Current portion | 1,545 | |
Consorcio GyM-Stracon [Member] | ||
Joint operations | ||
Receivable Current portion | ||
Payable Current portion | 143 | 644 |
Consorcio TNT Vial y Vives - DSD Chile LTDA [Member] | ||
Joint operations | ||
Receivable Current portion | ||
Payable Current portion | 633 | 1,015 |
Others [Member] | ||
Joint operations | ||
Receivable Current portion | 288 | 2,446 |
Payable Current portion | 1,803 | 1,701 |
Ferrovias S.A. [Member] | ||
Joint operations | ||
Receivable Current portion | ||
Payable Current portion | 15,513 | 11,139 |
Non-current portion | ||
Receivable Non-current portion | ||
Payable Non-current portion | 14,690 | 12,862 |
Peru Piping Spools S.A.C [Member] | ||
Joint operations | ||
Receivable Current portion | 2,711 | 1,960 |
Payable Current portion | 1,607 | 2,677 |
Other related parties [Member] | ||
Joint operations | ||
Receivable Current portion | 2,711 | 1,960 |
Payable Current portion | 17,120 | 13,816 |
Current portion [Member] | ||
Joint operations | ||
Receivable Current portion | 20,817 | 27,338 |
Payable Current portion | 51,004 | 43,818 |
Gasoducto Sur Peruano S.A. [Member] | ||
Non-current portion | ||
Receivable Non-current portion | 643,897 | 620,071 |
Payable Non-current portion | ||
Ferrovias Participaciones S.A. [Member] | ||
Non-current portion | ||
Receivable Non-current portion | ||
Payable Non-current portion | 36,022 | 23,435 |
Non-current [Member] | ||
Non-current portion | ||
Receivable Non-current portion | 643,897 | 620,071 |
Payable Non-current portion | S/ 50,712 | S/ 36,297 |
Other Accounts Receivable (Deta
Other Accounts Receivable (Details) - PEN (S/) S/ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Other Accounts Receivable (Details) [Line Items] | ||
Tax credit | S/ 6.2 | |
Tecnicas reunidas, description | 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 enforced 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, 2021, the balance of this item at nominal value amounts to US$17.3 million equivalent to S/68.6 million (at present value the balance amounts to US$14.8 million equivalent to S/63.8 million). | |
Account receivable | S/ 49.6 | |
Restricted funds, description | As of December 31, 2021, includes restricted funds for bank certificates under guarantee, S/7.3 million corresponds to the reserve account of the Concesionaria La Chira S.A. (S/19.1 million of AENZA S.A.A., S/0.9 million of the subsidiary Viva Negocio Inmobiliario S.A., S/7.3 million of the Concesionaria La Chira S.A. and other subsidiaries for S/1.8 million as of December 31, 2020, respectively). | |
Bottom of range [member] | ||
Other Accounts Receivable (Details) [Line Items] | ||
Accounts receivable maturities years | 2 years | |
Top of range [member] | ||
Other Accounts Receivable (Details) [Line Items] | ||
Accounts receivable maturities years | 5 years |
Other Accounts Receivable (De_2
Other Accounts Receivable (Details) - Schedule of account comprises - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of account comprises [Abstract] | ||
Total Advances to suppliers (a) | S/ 33,769 | S/ 76,200 |
Current Advances to suppliers (a) | 33,769 | 76,200 |
Non-current Advances to suppliers (a) | ||
Total Income tax on-account payments (b) | 44,072 | 48,052 |
Current Income tax on-account payments (b) | 44,072 | 48,052 |
Non-current Income tax on-account payments (b) | ||
Total VAT credit (c) | 47,295 | 54,076 |
Current VAT credit (c) | 38,924 | 43,498 |
Non-current VAT credit (c) | 8,371 | 10,578 |
TotalGuarantee deposits (d) | 199,132 | 204,474 |
Current Guarantee deposits (d) | 185,334 | 143,156 |
Non-current Guarantee deposits (d) | 13,798 | 61,318 |
TotalClaims to third parties (e) | 215,943 | 196,744 |
Current Claims to third parties (e) | 186,065 | 92,927 |
Non-current Claims to third parties (e) | 29,878 | 103,817 |
Total Petroleos del Peru S.A.- Petroperu S.A. (f) | 106,077 | 87,826 |
Current Petroleos del Peru S.A.- Petroperu S.A. (f) | 19,262 | 17,132 |
Non-current Petroleos del Peru S.A.- Petroperu S.A. (f) | 86,815 | 70,694 |
Total ITAN and other tax receivable | 48,378 | 63,003 |
Current ITAN and other tax receivable | 17,302 | 30,468 |
Non-current ITAN and other tax receivable | 31,076 | 32,535 |
Total Restricted funds (g) | 7,346 | 29,121 |
Current Restricted funds (g) | 2,092 | |
Non-current Restricted funds (g) | 7,346 | 27,029 |
Total Rental and sale of equipment - Cumbra Peru S.A. projects | 32,827 | 29,149 |
Current Rental and sale of equipment - Cumbra Peru S.A. projects | 32,827 | 29,149 |
Non-current Rental and sale of equipment - Cumbra Peru S.A. projects | ||
Total Accounts receivable from personneel | 16,963 | 10,957 |
Current Accounts receivable from personneel | 16,963 | 10,957 |
Non-current Accounts receivable from personneel | ||
Total Consorcio Panorama (h) | 27,193 | 25,026 |
Current Consorcio Panorama (h) | ||
Non-current Consorcio Panorama (h) | 27,193 | 25,026 |
Total Other minors | 38,993 | 10,388 |
Current Other minors | 38,854 | 9,738 |
Non-current Other minors | 139 | 650 |
Total accounts receivable gross | 817,987 | 835,016 |
Current accounts receivable gross | 613,371 | 503,369 |
Non-current accounts receivable gross | 204,616 | 331,647 |
Total Impairment (i) | (129,569) | (102,050) |
Current Impairment (i) | (126,313) | (98,626) |
Non-current Impairment (i) | (3,256) | (3,424) |
Total accounts receivable net | 688,418 | 732,966 |
Current accounts receivable net | 487,058 | 404,743 |
Non-current accounts receivable net | S/ 201,360 | S/ 328,223 |
Other Accounts Receivable (De_3
Other Accounts Receivable (Details) - Schedule of advance to suppliers - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Other Accounts Receivable (Details) - Schedule of advance to suppliers [Line Items] | ||
Current advances to suppliers | S/ 33,769 | S/ 76,200 |
Advances Joint Operations Vendors [member] | ||
Other Accounts Receivable (Details) - Schedule of advance to suppliers [Line Items] | ||
Current advances to suppliers | 12,547 | 36,803 |
Alsthom Transporte Linea One [member] | ||
Other Accounts Receivable (Details) - Schedule of advance to suppliers [Line Items] | ||
Current advances to suppliers | 3,691 | 5,786 |
Advances Refineria Talara [member] | ||
Other Accounts Receivable (Details) - Schedule of advance to suppliers [Line Items] | ||
Current advances to suppliers | 2,404 | 6,951 |
Others [member] | ||
Other Accounts Receivable (Details) - Schedule of advance to suppliers [Line Items] | ||
Current advances to suppliers | S/ 15,127 | S/ 26,660 |
Other Accounts Receivable (De_4
Other Accounts Receivable (Details) - Schedule of income tax pre-payments, consist of income tax payments - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Other Accounts Receivable (Details) - Schedule of income tax pre-payments, consist of income tax payments [Line Items] | ||
Current receivables from taxes other than income tax | S/ 44,072 | S/ 48,052 |
Cumbra Peru S.A. [member] | ||
Other Accounts Receivable (Details) - Schedule of income tax pre-payments, consist of income tax payments [Line Items] | ||
Current receivables from taxes other than income tax | 25,539 | 35,599 |
Tren Urbano de Lima S.A.[member] | ||
Other Accounts Receivable (Details) - Schedule of income tax pre-payments, consist of income tax payments [Line Items] | ||
Current receivables from taxes other than income tax | 9,990 | |
Cumbra Ingenieria S.A.[Member] | ||
Other Accounts Receivable (Details) - Schedule of income tax pre-payments, consist of income tax payments [Line Items] | ||
Current receivables from taxes other than income tax | 4,331 | 3,532 |
AENZA S.A.A. [Member] | ||
Other Accounts Receivable (Details) - Schedule of income tax pre-payments, consist of income tax payments [Line Items] | ||
Current receivables from taxes other than income tax | 1,129 | 1,348 |
Unna Energia S.A. [Member] | ||
Other Accounts Receivable (Details) - Schedule of income tax pre-payments, consist of income tax payments [Line Items] | ||
Current receivables from taxes other than income tax | 932 | 1,883 |
Unna Transporte S.A.C. [Member] | ||
Other Accounts Receivable (Details) - Schedule of income tax pre-payments, consist of income tax payments [Line Items] | ||
Current receivables from taxes other than income tax | 844 | 3,340 |
Qualys S.A. [Member] | ||
Other Accounts Receivable (Details) - Schedule of income tax pre-payments, consist of income tax payments [Line Items] | ||
Current receivables from taxes other than income tax | 502 | 559 |
Carretera Andina del Sur S.A.C. [Member] | ||
Other Accounts Receivable (Details) - Schedule of income tax pre-payments, consist of income tax payments [Line Items] | ||
Current receivables from taxes other than income tax | 370 | 141 |
Viva Negocio Inmobiliario S.A. [Member] | ||
Other Accounts Receivable (Details) - Schedule of income tax pre-payments, consist of income tax payments [Line Items] | ||
Current receivables from taxes other than income tax | 47 | 1,351 |
Other [Member] | ||
Other Accounts Receivable (Details) - Schedule of income tax pre-payments, consist of income tax payments [Line Items] | ||
Current receivables from taxes other than income tax | S/ 388 | S/ 299 |
Other Accounts Receivable (De_5
Other Accounts Receivable (Details) - Schedule of tax credit related to VAT S/ in Thousands, $ in Thousands | Dec. 31, 2021PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) |
Other Accounts Receivable (Details) - Schedule of tax credit related to VAT [Line Items] | ||||
Value added tax receivables | S/ 47,295 | S/ 54,076 | ||
Current value added tax receivables | 38,924 | 43,498 | ||
Non-current value added tax receivables (in Dollars) | $ | $ 8,371 | $ 10,578 | ||
Cumbra Peru S.A. [Member] | ||||
Other Accounts Receivable (Details) - Schedule of tax credit related to VAT [Line Items] | ||||
Value added tax receivables | 12,737 | 12,868 | ||
Current value added tax receivables | 12,737 | 12,868 | ||
Non-current value added tax receivables (in Dollars) | $ | ||||
Via Expresa Sur S.A. [Member] | ||||
Other Accounts Receivable (Details) - Schedule of tax credit related to VAT [Line Items] | ||||
Value added tax receivables | 6,256 | 6,222 | ||
Current value added tax receivables | 6,256 | 6,222 | ||
Non-current value added tax receivables (in Dollars) | $ | ||||
Viva Negocio Inmobiliario S.A. [Member] | ||||
Other Accounts Receivable (Details) - Schedule of tax credit related to VAT [Line Items] | ||||
Value added tax receivables | 6,110 | 8,111 | ||
Current value added tax receivables | 514 | 953 | ||
Non-current value added tax receivables (in Dollars) | $ | 5,596 | 7,158 | ||
Unna Transporte S.A.C. [Member] | ||||
Other Accounts Receivable (Details) - Schedule of tax credit related to VAT [Line Items] | ||||
Value added tax receivables | 5,333 | 1,527 | ||
Current value added tax receivables | 5,333 | 1,527 | ||
Non-current value added tax receivables (in Dollars) | $ | ||||
Tren Urbano de Lima S.A. [Member] | ||||
Other Accounts Receivable (Details) - Schedule of tax credit related to VAT [Line Items] | ||||
Value added tax receivables | 4,266 | 3,335 | ||
Current value added tax receivables | 4,266 | 3,335 | ||
Non-current value added tax receivables (in Dollars) | $ | ||||
AENZA S.A.A. [Member] | ||||
Other Accounts Receivable (Details) - Schedule of tax credit related to VAT [Line Items] | ||||
Value added tax receivables | 3,715 | 648 | ||
Current value added tax receivables | 3,715 | 648 | ||
Non-current value added tax receivables (in Dollars) | $ | ||||
Cumbra Ingenieria S.A. [Member] | ||||
Other Accounts Receivable (Details) - Schedule of tax credit related to VAT [Line Items] | ||||
Value added tax receivables | 1,947 | 13,754 | ||
Current value added tax receivables | 1,947 | 13,754 | ||
Non-current value added tax receivables (in Dollars) | $ | ||||
Unna Energia S.A. [Member] | ||||
Other Accounts Receivable (Details) - Schedule of tax credit related to VAT [Line Items] | ||||
Value added tax receivables | 1,911 | 678 | ||
Current value added tax receivables | 1,911 | 678 | ||
Non-current value added tax receivables (in Dollars) | $ | ||||
Carretera Andina del Sur S.A.C. [Member] | ||||
Other Accounts Receivable (Details) - Schedule of tax credit related to VAT [Line Items] | ||||
Value added tax receivables | 1,475 | 2,631 | ||
Current value added tax receivables | 1,475 | 2,631 | ||
Non-current value added tax receivables (in Dollars) | $ | ||||
Other Subsidiaries [Member] | ||||
Other Accounts Receivable (Details) - Schedule of tax credit related to VAT [Line Items] | ||||
Value added tax receivables | 3,545 | 4,302 | ||
Current value added tax receivables | S/ 770 | S/ 882 | ||
Non-current value added tax receivables (in Dollars) | $ | $ 2,775 | $ 3,420 |
Other Accounts Receivable (De_6
Other Accounts Receivable (Details) - Schedule of deposits are retained by customers - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Other Accounts Receivable (Details) - Schedule of deposits are retained by customers [Line Items] | ||
Guarantee deposits | S/ 199,132 | S/ 204,474 |
Guarantee deposits, Current | 185,334 | 143,156 |
Guarantee deposits current, non current | 13,798 | 61,318 |
Vial y Vives - DSD S.A. - Minera Teck [Member] | ||
Other Accounts Receivable (Details) - Schedule of deposits are retained by customers [Line Items] | ||
Guarantee deposits | 79,126 | 64,175 |
Guarantee deposits, Current | 79,126 | 64,175 |
Guarantee deposits current, non current | ||
Talara Refinery [Member] | ||
Other Accounts Receivable (Details) - Schedule of deposits are retained by customers [Line Items] | ||
Guarantee deposits | 59,651 | 58,831 |
Guarantee deposits, Current | 49,222 | 812 |
Guarantee deposits current, non current | 10,429 | 58,019 |
Concentrator Plant and tunnel of Quellaveco [Member] | ||
Other Accounts Receivable (Details) - Schedule of deposits are retained by customers [Line Items] | ||
Guarantee deposits | 12,133 | 23,699 |
Guarantee deposits, Current | 12,133 | 23,699 |
Guarantee deposits current, non current | ||
Morelco S.A.S. - Engineering and Construction Works [Member] | ||
Other Accounts Receivable (Details) - Schedule of deposits are retained by customers [Line Items] | ||
Guarantee deposits | 6,617 | 14,108 |
Guarantee deposits, Current | 6,617 | 14,108 |
Guarantee deposits current, non current | ||
Joint operations retention [Member] | ||
Other Accounts Receivable (Details) - Schedule of deposits are retained by customers [Line Items] | ||
Guarantee deposits | 3,245 | 16,825 |
Guarantee deposits, Current | 3,245 | 16,825 |
Guarantee deposits current, non current | ||
Others [Member] | ||
Other Accounts Receivable (Details) - Schedule of deposits are retained by customers [Line Items] | ||
Guarantee deposits | 38,360 | 26,836 |
Guarantee deposits, Current | 34,991 | 23,537 |
Guarantee deposits current, non current | S/ 3,369 | S/ 3,299 |
Other Accounts Receivable (De_7
Other Accounts Receivable (Details) - Schedule of third-party claims – corresponds - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Other Accounts Receivable (Details) - Schedule of third-party claims – corresponds [Line Items] | ||
Total | S/ 215,943 | S/ 196,744 |
Current | 186,065 | 92,927 |
Non-current | 29,878 | 103,817 |
Tecnicas Reunidas - Talara (e.1) [Member] | ||
Other Accounts Receivable (Details) - Schedule of third-party claims – corresponds [Line Items] | ||
Total | 63,809 | 53,635 |
Current | 63,809 | |
Non-current | 53,635 | |
Municipalidad Metropolitana de Lima (e.2) [Member] | ||
Other Accounts Receivable (Details) - Schedule of third-party claims – corresponds [Line Items] | ||
Total | 49,632 | 49,625 |
Current | 49,632 | 49,625 |
Ministerio de Vivienda and Fondo Mi Vivienda [Member] | ||
Other Accounts Receivable (Details) - Schedule of third-party claims – corresponds [Line Items] | ||
Total | 23,953 | 21,816 |
Non-current | 23,953 | 21,816 |
Accounts receivable from joint venture [Member] | ||
Other Accounts Receivable (Details) - Schedule of third-party claims – corresponds [Line Items] | ||
Total | 59,917 | 45,040 |
Current | 59,917 | 22,505 |
Non-current | 22,535 | |
Others [Member] | ||
Other Accounts Receivable (Details) - Schedule of third-party claims – corresponds [Line Items] | ||
Total | 18,632 | 26,628 |
Current | 12,707 | 20,797 |
Non-current | S/ 5,925 | S/ 5,831 |
Other Accounts Receivable (De_8
Other Accounts Receivable (Details) - Schedule of movement in impairment of other receivables - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Total [Member] | |||
Other Accounts Receivable (Details) - Schedule of movement in impairment of other receivables [Line Items] | |||
Balance at beginning | S/ (102,050) | S/ (30,698) | S/ (25,567) |
Impairment of Sucursal Colombia (Note 26.iii) | (3,283) | ||
Impairment of Unna Transporte S.A.C. (Note 26.iii) | (227) | (11,431) | (1,457) |
Impairment of Cumbra Peru S.A. (Note 26.iii) | (964) | (828) | (937) |
Impairment of other minors (Note 26.iii) | (114) | (59) | (27) |
Impairment of AENZA S.A.A. (Note 28.b) | (19,967) | ||
Impairment of other minors | (34) | ||
Reversal of impairment (Note 26.iii) | 128 | ||
Impairment of Cam Holding S.P.A. (Note 28.c) | (12,511) | ||
Impairment of Concesionaria Via Expresa Sur S.A. (Note 28.b) | (55,847) | ||
Impairment of other minors (Note 28.b) | (513) | ||
Write-off | 986 | 12,205 | |
Reversal of impairment | 32 | ||
Exchange difference | (2,400) | (2,188) | 387 |
Translations adjustments | (4,927) | (180) | 154 |
Balance at ending | (129,569) | (102,050) | (30,698) |
Claims to third parties [Member] | |||
Other Accounts Receivable (Details) - Schedule of movement in impairment of other receivables [Line Items] | |||
Balance at beginning | (95,828) | (30,863) | (25,567) |
Impairment of Sucursal Colombia (Note 26.iii) | (3,283) | ||
Impairment of Unna Transporte S.A.C. (Note 26.iii) | (227) | (11,431) | (1,457) |
Impairment of Cumbra Peru S.A. (Note 26.iii) | (964) | (828) | (937) |
Impairment of other minors (Note 26.iii) | (114) | (59) | (27) |
Impairment of AENZA S.A.A. (Note 28.b) | (19,967) | ||
Impairment of other minors | (34) | ||
Reversal of impairment (Note 26.iii) | 128 | ||
Impairment of Concesionaria Via Expresa Sur S.A. (Note 28.b) | (49,625) | ||
Impairment of other minors (Note 28.b) | (513) | ||
Write-off | 986 | (325) | |
Reversal of impairment | 32 | ||
Exchange difference | (2,400) | (2,188) | 387 |
Translations adjustments | (4,927) | 4 | (11) |
Balance at ending | (123,347) | (95,828) | (30,863) |
Guaranties Retention [Member] | |||
Other Accounts Receivable (Details) - Schedule of movement in impairment of other receivables [Line Items] | |||
Balance at beginning | 165 | ||
Impairment of Cam Holding S.P.A. (Note 28.c) | (12,511) | ||
Write-off | 12,530 | ||
Translations adjustments | (184) | 165 | |
Balance at ending | S/ 165 | ||
Tax credit [Member] | |||
Other Accounts Receivable (Details) - Schedule of movement in impairment of other receivables [Line Items] | |||
Balance at beginning | (6,222) | ||
Impairment of Concesionaria Via Expresa Sur S.A. (Note 28.b) | (6,222) | ||
Balance at ending | S/ (6,222) | S/ (6,222) |
Inventories (Details)
Inventories (Details) - PEN (S/) S/ in Thousands | Oct. 01, 2021 | Jun. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 |
Inventories (Details) [Line Items] | ||||
Land impairment | S/ 175,087 | S/ 176,927 | ||
Capitalized financing costs | 1,000 | |||
Annual interest | 9.00% | 8.00% | ||
Interest rate | 3,800 | |||
Net impairment | 3,700 | 3,800 | ||
Construction materials | S/ 47,000 | S/ 53,100 | ||
Bottom of range [member] | ||||
Inventories (Details) [Line Items] | ||||
Annual interest | 7.00% | |||
Interest rate | 7.00% | |||
Top of range [member] | ||||
Inventories (Details) [Line Items] | ||||
Annual interest | 11.00% | |||
Interest rate | 11.00% | |||
Viva Negocio Inmobiliario S.A. A [Member] | ||||
Inventories (Details) [Line Items] | ||||
Land impairment | S/ 1,200 | S/ 1,200 |
Inventories (Details) - Schedul
Inventories (Details) - Schedule of Inventories - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Schedule of Inventories [Abstract] | ||
Land | S/ 175,087 | S/ 176,927 |
Work in progress - Real estate | 117,341 | 164,514 |
Finished properties | 75,085 | 78,048 |
Construction materials | 49,403 | 58,621 |
Merchandise and supplies | 80,051 | 80,142 |
Inventories, gross | 496,967 | 558,252 |
Impairment of inventories | (8,641) | (6,252) |
Inventories, net | S/ 488,326 | S/ 552,000 |
Inventories (Details) - Sched_2
Inventories (Details) - Schedule of land includes properties for the development - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Inventories (Details) - Schedule of land includes properties for the development [Line Items] | ||
Land | S/ 175,087 | S/ 176,927 |
Lurin [Member] | ||
Inventories (Details) - Schedule of land includes properties for the development [Line Items] | ||
Land | 84,648 | 81,493 |
San Isidro [Member] | ||
Inventories (Details) - Schedule of land includes properties for the development [Line Items] | ||
Land | 51,850 | 51,626 |
Nuevo Chimbote [Member] | ||
Inventories (Details) - Schedule of land includes properties for the development [Line Items] | ||
Land | 18,624 | 17,616 |
Barranco [Member] | ||
Inventories (Details) - Schedule of land includes properties for the development [Line Items] | ||
Land | 14,640 | 14,432 |
Piura [Member] | ||
Inventories (Details) - Schedule of land includes properties for the development [Line Items] | ||
Land | S/ 5,325 | S/ 11,760 |
Inventories (Details) - Sched_3
Inventories (Details) - Schedule of real state work in progress - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Inventories (Details) - Schedule of real state work in progress [Line Items] | ||
Real state work in progress | S/ 117,341 | S/ 164,514 |
Los Parques de Comas [Member] | ||
Inventories (Details) - Schedule of real state work in progress [Line Items] | ||
Real state work in progress | 63,213 | 66,114 |
Los Parques del Callao [Member] | ||
Inventories (Details) - Schedule of real state work in progress [Line Items] | ||
Real state work in progress | 27,235 | 26,613 |
Los Parques del Mar [Member] | ||
Inventories (Details) - Schedule of real state work in progress [Line Items] | ||
Real state work in progress | 20,044 | 44,683 |
Los Parques de Carabayllo III [Member] | ||
Inventories (Details) - Schedule of real state work in progress [Line Items] | ||
Real state work in progress | 10,266 | |
Los Parques de Piura [Member] | ||
Inventories (Details) - Schedule of real state work in progress [Line Items] | ||
Real state work in progress | 9,514 | |
Inmobiliaria Pezet 417 S.A.C. [Member] | ||
Inventories (Details) - Schedule of real state work in progress [Line Items] | ||
Real state work in progress | 4,459 | |
Others [Member] | ||
Inventories (Details) - Schedule of real state work in progress [Line Items] | ||
Real state work in progress | S/ 6,849 | S/ 2,865 |
Inventories (Details) - Sched_4
Inventories (Details) - Schedule of finished properties - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Inventories (Details) - Schedule of finished properties [Line Items] | ||
Finished properties | S/ 75,085 | S/ 78,048 |
Los Parques de Comas [Member] | ||
Inventories (Details) - Schedule of finished properties [Line Items] | ||
Finished properties | 27,185 | 32,098 |
Los Parques de Carabayllo III [Member] | ||
Inventories (Details) - Schedule of finished properties [Line Items] | ||
Finished properties | 14,757 | 8,518 |
Los Parques del Mar [Member] | ||
Inventories (Details) - Schedule of finished properties [Line Items] | ||
Finished properties | 13,885 | |
Huancayo [Member] | ||
Inventories (Details) - Schedule of finished properties [Line Items] | ||
Finished properties | 7,918 | 13,033 |
Strip Callao [Member] | ||
Inventories (Details) - Schedule of finished properties [Line Items] | ||
Finished properties | 6,286 | 6,286 |
Los Parques del Callao [Member] | ||
Inventories (Details) - Schedule of finished properties [Line Items] | ||
Finished properties | 2,441 | 14,479 |
Los Parques de Piura [Member] | ||
Inventories (Details) - Schedule of finished properties [Line Items] | ||
Finished properties | 430 | 1,034 |
El Nuevo Rancho [Member] | ||
Inventories (Details) - Schedule of finished properties [Line Items] | ||
Finished properties | 1,284 | |
Other related parties [Member] | ||
Inventories (Details) - Schedule of finished properties [Line Items] | ||
Finished properties | S/ 2,183 | S/ 1,316 |
Investments in Associates and_3
Investments in Associates and Joint Ventures (Details) S/ in Millions, $ in Millions | Dec. 04, 2017USD ($) | Jan. 24, 2017USD ($) | Nov. 30, 2015USD ($) | Dec. 31, 2017 | Dec. 31, 2016USD ($) | Dec. 31, 2021PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) |
Gasoducto Sur Peruano S.A. [Member] | |||||||||
Investments in Associates and Joint Ventures (Details) [Line Items] | |||||||||
Interest percentage | 20.00% | ||||||||
Investment amount | $ 242.5 | ||||||||
Percentage of performance guarantee established in concession contract | 20.00% | ||||||||
Performance guarantee established in the concession contract | $ 262.5 | ||||||||
Percentage of bridge loan | 21.49% | ||||||||
Bridge loan amount | $ 129 | $ 600 | |||||||
Enforcement of guarantees | 52.5 | ||||||||
Accounts receivable from related parties | $ 181.5 | ||||||||
Number of public auctions | 3 | ||||||||
Audit firm engaged by GSP | $ 2,602 | ||||||||
Accounts receivable claim | $ 0.4 | ||||||||
Held in trust for the benefit | $ 169.3 | ||||||||
Fair value of investment | S/ 322.6 | $ 81.1 | S/ 320.0 | $ 88.6 | |||||
Accumulated impairment amount | S/ 329.0 | $ 82.8 | |||||||
Investment recovery estimate term | 8 years | 8 years | |||||||
Amortized cost discounting gain of US$7.5 million (S/29.8 million). | S/ 29.8 | $ 7.5 | |||||||
Gasoducto Sur Peruano S.A. [Member] | Bottom of Range [Member] | |||||||||
Investments in Associates and Joint Ventures (Details) [Line Items] | |||||||||
Discount rate used in estimate term | 1.60% | 1.60% | |||||||
Gasoducto Sur Peruano S.A. [Member] | Top of Range [Member] | |||||||||
Investments in Associates and Joint Ventures (Details) [Line Items] | |||||||||
Discount rate used in estimate term | 2.73% | 2.73% | |||||||
Consorcio Constructor Ductos del Sur [Member] | |||||||||
Investments in Associates and Joint Ventures (Details) [Line Items] | |||||||||
Interest percentage | 29.00% | ||||||||
Concesionaria Chavimochic S.A.C. [Member] | |||||||||
Investments in Associates and Joint Ventures (Details) [Line Items] | |||||||||
Investment amount | $ 647 | ||||||||
Concession period term | 25 years | 25 years | |||||||
Number of phases | 2 | ||||||||
Percentage of concession contract | 70.00% | ||||||||
Logistica Quimicos del Sur S.A [Member] | |||||||||
Investments in Associates and Joint Ventures (Details) [Line Items] | |||||||||
Dividends received (in Nuevos Soles) | S/ | S/ 2.0 | S/ 2.3 |
Investments in Associates and_4
Investments in Associates and Joint Ventures (Details) - Schedule of investments in associates and joint ventures S/ in Thousands, $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2021PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2019PEN (S/) | Dec. 31, 2019USD ($) | |
Investments in Associates and Joint Ventures (Details) - Schedule of investments in associates and joint ventures [Line Items] | ||||||
Total | S/ (3,937) | $ 31,173 | S/ (2,322) | $ 35,516 | S/ (11,892) | |
Associates [Member] | ||||||
Investments in Associates and Joint Ventures (Details) - Schedule of investments in associates and joint ventures [Line Items] | ||||||
Total | 22,047 | 27,246 | ||||
Joint ventures [Member] | ||||||
Investments in Associates and Joint Ventures (Details) - Schedule of investments in associates and joint ventures [Line Items] | ||||||
Total | 9,126 | 8,270 | ||||
Equity Interest [Member] | ||||||
Investments in Associates and Joint Ventures (Details) - Schedule of investments in associates and joint ventures [Line Items] | ||||||
Total | (861) | 770 | $ (218,774) | |||
Equity Interest [Member] | Associates [Member] | ||||||
Investments in Associates and Joint Ventures (Details) - Schedule of investments in associates and joint ventures [Line Items] | ||||||
Total | (3,693) | (1,635) | (220,993) | |||
Equity Interest [Member] | Joint ventures [Member] | ||||||
Investments in Associates and Joint Ventures (Details) - Schedule of investments in associates and joint ventures [Line Items] | ||||||
Total | $ 2,832 | $ 2,405 | $ 2,219 |
Investments in Associates and_5
Investments in Associates and Joint Ventures (Details) - Schedule of investments in associates - Associates [Member] - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Investments in Associates and Joint Ventures (Details) - Schedule of investments in associates [Line Items] | ||
Carrying amount | S/ 22,047 | S/ 27,246 |
Gasoducto del Peru S.A. [Member] | ||
Investments in Associates and Joint Ventures (Details) - Schedule of investments in associates [Line Items] | ||
Class of share | Common | |
Interest in capital | ||
Carrying amount | ||
Concesionaria Chavimochic S.A.C. [Member] | ||
Investments in Associates and Joint Ventures (Details) - Schedule of investments in associates [Line Items] | ||
Class of share | Common | |
Interest in capital | 26.50% | 26.50% |
Carrying amount | S/ 16,295 | S/ 18,058 |
Obratres S.A.C. [Member] | ||
Investments in Associates and Joint Ventures (Details) - Schedule of investments in associates [Line Items] | ||
Class of share | Common | |
Interest in capital | 37.50% | 37.50% |
Carrying amount | S/ 3,400 | S/ 3,812 |
Inversiones Maje S.A.C. [Member] | ||
Investments in Associates and Joint Ventures (Details) - Schedule of investments in associates [Line Items] | ||
Class of share | Common | |
Interest in capital | 9.59% | 9.59% |
Carrying amount | S/ 2,043 | S/ 2,283 |
Peru Piping Spools S.A.C. [Member] | ||
Investments in Associates and Joint Ventures (Details) - Schedule of investments in associates [Line Items] | ||
Class of share | Common | |
Interest in capital | 33.33% | 33.33% |
Carrying amount | S/ 2,760 | |
Otros [Member] | ||
Investments in Associates and Joint Ventures (Details) - Schedule of investments in associates [Line Items] | ||
Class of share | Common | |
Carrying amount | S/ 309 | S/ 333 |
Investments in Associates and_6
Investments in Associates and Joint Ventures (Details) - Schedule of movement of the investments in associates - Associates [member] - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Investments in Associates and Joint Ventures (Details) - Schedule of movement of the investments in associates [Line Items] | |||
Opening balance | S/ 27,246 | S/ 28,875 | S/ 250,282 |
Dividends received | (1,483) | ||
Equity interest in results | (3,693) | (1,635) | (220,993) |
Impairment of investment | (38) | (374) | |
Conversion adjustment | (23) | 44 | (40) |
Final balance | S/ 22,047 | S/ 27,246 | S/ 28,875 |
Investments in Associates and_7
Investments in Associates and Joint Ventures (Details) - Schedule of Summarized financial information for associates - Concesionaria Chavimochic S.A.C. [Member] - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Current | ||
Assets | S/ 64,161 | S/ 58,814 |
Liabilities | (3,450) | (4,795) |
Non-current | ||
Assets | 10,864 | 11,635 |
Liabilities | (10,085) | |
Net assets | 61,490 | 65,654 |
Administrative expenses | (7,641) | (4,521) |
Loss operative | (7,641) | (4,521) |
Others | 4,153 | 3,534 |
Loss of the year | (3,488) | (987) |
Total comprehensive loss | S/ (3,488) | S/ (987) |
Investments in Associates and_8
Investments in Associates and Joint Ventures (Details) - Schedule of investments joint ventures - Joint Ventures [Member] - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Investments in Associates and Joint Ventures (Details) - Schedule of investments joint ventures [Line Items] | ||
Carrying amount | S/ 9,126 | S/ 8,270 |
Logistica Quimicos del Sur S.A.C. [Member] | ||
Investments in Associates and Joint Ventures (Details) - Schedule of investments joint ventures [Line Items] | ||
Class of share | Common | |
Interest in capital | 50.00% | 50.00% |
Carrying amount | S/ 8,951 | S/ 8,080 |
Constructora SK-VyV Ltda. [Member] | ||
Investments in Associates and Joint Ventures (Details) - Schedule of investments joint ventures [Line Items] | ||
Class of share | Common | |
Interest in capital | 50.00% | 50.00% |
Carrying amount | S/ 31 | S/ 34 |
Others [Member] | ||
Investments in Associates and Joint Ventures (Details) - Schedule of investments joint ventures [Line Items] | ||
Interest in capital | ||
Carrying amount | S/ 144 | S/ 156 |
Investments in Associates and_9
Investments in Associates and Joint Ventures (Details) - Schedule of movement of the investments in joint ventures - Joint Ventures [Member] - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Investments in Associates and Joint Ventures (Details) - Schedule of movement of the investments in joint ventures [Line Items] | |||
Opening balance | S/ 8,270 | S/ 8,160 | S/ 7,483 |
Equity interest in results | 2,832 | 2,405 | 2,219 |
Dividends received | (1,962) | (2,318) | (1,517) |
Conversion adjustment | (14) | 23 | (14) |
Impairment of investment | (11) | ||
Final balance | S/ 9,126 | S/ 8,270 | S/ 8,160 |
Investments in Associates an_10
Investments in Associates and Joint Ventures (Details) - Schedule of financial information for joint ventures - Logistica Quimicos del Sur S.A.C. [Member] - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Current | ||
Cash and cash equivalents | S/ 3,096 | S/ 2,710 |
Other current assets | 2,068 | 3,324 |
Total current assets | 5,164 | 6,034 |
Other current liabilities | (3,899) | (6,108) |
Total current liabilities | (3,899) | (6,108) |
Non-current | ||
Total non-current assets | 34,027 | 35,715 |
Total non-current liabilities | (17,392) | (19,484) |
Net assets | 17,900 | 16,157 |
Revenue | 14,847 | 13,351 |
Depreciation and amortization | (2,400) | (2,394) |
Interest expense | (366) | (508) |
Profit from continuing operations | 8,140 | 6,854 |
Income tax expense | (2,473) | (2,072) |
Profit from continuing operations after income tax | 5,667 | 4,782 |
Total comprehensive income | S/ 5,667 | S/ 4,782 |
Investment Property, Property_3
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) S/ in Millions, $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2021PEN (S/) | Dec. 31, 2020PEN (S/) | Dec. 31, 2019PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Aug. 31, 2019USD ($) | |
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) [Line Items] | |||||||
Fair value amounts | S/ 69.1 | S/ 51.3 | S/ 62.6 | $ 17.3 | $ 14.1 | $ 18.7 | |
Carrying amount | 22.4 | 24.6 | 26.9 | ||||
Net carrying amount | 1.4 | ||||||
Net books value (in Dollars) | $ | $ 1.5 | ||||||
Fair value | 74 | ||||||
Gross margin | 2.1 | ||||||
other income and expenses, net | 7.8 | ||||||
Other income and expenses net amount | 9.6 | ||||||
Generates gain | 9.1 | ||||||
Income in this item and a gain | 2.6 | 12.7 | 6.1 | ||||
Net book value | 42.6 | 1.4 | 1.5 | ||||
Depreciated assets amount | 341.2 | 231.1 | 135.2 | ||||
Amortization and interest | S/ 8.8 | 15.9 | 15.7 | ||||
Leases | 12 months | ||||||
Leases amount | S/ 252.4 | 351.7 | 167.3 | ||||
Leases of low value assets | 44.4 | 5.1 | 7 | ||||
Expenditure | 85.8 | S/ 48.7 | S/ 0.6 | ||||
Investment Properties [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) [Line Items] | |||||||
Net carrying amount | 42.6 | ||||||
Fair value | 18.6 | ||||||
Other Income and Expenses, Net [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) [Line Items] | |||||||
Generates gain | S/ 1.8 |
Investment Property, Property_4
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of investment property and its related accumulated depreciation - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of investment property and its related accumulated depreciation [Line Items] | |||
Net carrying amount, beginning | S/ 26,073 | S/ 28,326 | S/ 29,133 |
Net initial carrying amount | 26,073 | 28,326 | 29,133 |
Net final carrying amount - At December 31, 20 | 63,011 | 26,073 | 28,326 |
At December 31, 2021 | |||
Net carrying amount, ending | 63,011 | 26,073 | 28,326 |
At January 1, 2020 | |||
Additions | 152 | 98 | 88 |
Depreciation charge | (4,316) | (2,413) | (2,356) |
Transfers (b) | 41,150 | 1,460 | |
Reclassifications | |||
Translations adjustments | (48) | 62 | 1 |
Cost [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of investment property and its related accumulated depreciation [Line Items] | |||
Net carrying amount, beginning | 45,968 | 45,808 | 44,259 |
At December 31, 2021 | |||
Net carrying amount, ending | 87,222 | 45,968 | 45,808 |
Accumulated depreciation and impairment [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of investment property and its related accumulated depreciation [Line Items] | |||
Net carrying amount, beginning | (19,895) | (17,482) | (15,126) |
At December 31, 2021 | |||
Net carrying amount, ending | (24,211) | (19,895) | (17,482) |
Land [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of investment property and its related accumulated depreciation [Line Items] | |||
Net carrying amount, beginning | 2,505 | 2,494 | 2,220 |
Net initial carrying amount | 2,505 | 2,494 | 2,220 |
Net final carrying amount - At December 31, 20 | 13,188 | 2,505 | 2,494 |
At December 31, 2021 | |||
Net carrying amount, ending | 13,188 | 2,505 | 2,494 |
At January 1, 2020 | |||
Additions | |||
Depreciation charge | |||
Transfers (b) | 10,692 | 273 | |
Reclassifications | |||
Translations adjustments | (9) | 11 | 1 |
Land [Member] | Cost [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of investment property and its related accumulated depreciation [Line Items] | |||
Net carrying amount, beginning | 2,505 | 2,494 | 2,220 |
At December 31, 2021 | |||
Net carrying amount, ending | 13,188 | 2,505 | 2,494 |
Land [Member] | Accumulated depreciation and impairment [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of investment property and its related accumulated depreciation [Line Items] | |||
Net carrying amount, beginning | |||
At December 31, 2021 | |||
Net carrying amount, ending | |||
Buildings [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of investment property and its related accumulated depreciation [Line Items] | |||
Net carrying amount, beginning | 23,548 | 25,820 | 26,867 |
Net initial carrying amount | 23,548 | 25,820 | 26,867 |
Net final carrying amount - At December 31, 20 | 49,802 | 23,548 | 25,820 |
At December 31, 2021 | |||
Net carrying amount, ending | 49,802 | 23,548 | 25,820 |
At January 1, 2020 | |||
Additions | 28 | 58 | 14 |
Depreciation charge | (4,316) | (2,413) | (2,356) |
Transfers (b) | 30,458 | 1,187 | |
Reclassifications | 123 | 32 | 108 |
Translations adjustments | (39) | 51 | |
Buildings [Member] | Cost [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of investment property and its related accumulated depreciation [Line Items] | |||
Net carrying amount, beginning | 43,443 | 43,302 | 41,993 |
At December 31, 2021 | |||
Net carrying amount, ending | 74,013 | 43,443 | 43,302 |
Buildings [Member] | Accumulated depreciation and impairment [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of investment property and its related accumulated depreciation [Line Items] | |||
Net carrying amount, beginning | (19,895) | (17,482) | (15,126) |
At December 31, 2021 | |||
Net carrying amount, ending | (24,211) | (19,895) | (17,482) |
Buildings One [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of investment property and its related accumulated depreciation [Line Items] | |||
Net carrying amount, beginning | 20 | 12 | 46 |
Net initial carrying amount | 20 | 12 | 46 |
Net final carrying amount - At December 31, 20 | 21 | 20 | 12 |
At December 31, 2021 | |||
Net carrying amount, ending | 21 | 20 | 12 |
At January 1, 2020 | |||
Additions | 124 | 40 | 74 |
Depreciation charge | |||
Transfers (b) | |||
Reclassifications | (123) | (32) | (108) |
Translations adjustments | |||
Buildings One [Member] | Cost [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of investment property and its related accumulated depreciation [Line Items] | |||
Net carrying amount, beginning | 20 | 12 | 46 |
At December 31, 2021 | |||
Net carrying amount, ending | 21 | 20 | 12 |
Buildings One [Member] | Accumulated depreciation and impairment [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of investment property and its related accumulated depreciation [Line Items] | |||
Net carrying amount, beginning | |||
At December 31, 2021 | |||
Net carrying amount, ending |
Investment Property, Property_5
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of Depreciation of investment property - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule of Depreciation of investment property [Abstract] | |||
Cost of services and goods (Note 26. ii) | S/ 4,316 | S/ 2,413 | S/ 2,356 |
Investment Property, Property_6
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation - PEN (S/) S/ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | S/ 1,255,884 | S/ 1,200,646 | S/ 1,231,512 | ||||
Accumulated depreciation and impairment | (952,714) | (795,177) | (767,522) | ||||
Net carrying amount | 303,170 | 405,469 | 463,990 | ||||
Net initial carrying amount | 405,469 | 463,990 | 503,584 | ||||
Additions | [1] | 38,191 | 36,065 | 81,902 | |||
Depreciation charge | (70,780) | (78,560) | (80,566) | ||||
Sale of assets, net | (5,684) | [2] | (6,861) | [2] | (7,792) | ||
Disposals, net | (1,517) | (12,374) | (3,628) | ||||
Impairment loss | (8,088) | (5,214) | (18,940) | ||||
Transfers | (41,234) | [3] | 89 | (2,264) | [3] | ||
Deconsolidation, net (iv) | [4] | (7,935) | |||||
Translations adjustments | (5,252) | 8,334 | (8,306) | ||||
Net final carrying amount | 303,170 | 405,469 | 463,990 | ||||
Cost [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 1,200,646 | 1,231,512 | 1,207,819 | ||||
Accumulated depreciation and impairment [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Accumulated depreciation and impairment | (795,177) | (767,522) | (704,235) | ||||
Net carrying amount [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Net carrying amount | 405,469 | 463,990 | 503,584 | ||||
Land [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 9,718 | 10,879 | 19,974 | ||||
Accumulated depreciation and impairment | (273) | (273) | |||||
Net carrying amount | 9,718 | 10,606 | 19,701 | ||||
Net initial carrying amount | 10,606 | 19,701 | 20,209 | ||||
Additions | [1] | 85 | 290 | ||||
Depreciation charge | |||||||
Sale of assets, net | [2] | [2] | |||||
Disposals, net | (9,895) | ||||||
Impairment loss | |||||||
Transfers | (10,692) | [3] | (273) | [3] | |||
Deconsolidation, net (iv) | [4] | ||||||
Reclassifications | 10,198 | ||||||
Translations adjustments | (479) | 800 | (525) | ||||
Net final carrying amount | 9,718 | 10,606 | 19,701 | ||||
Land [Member] | Cost [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 10,879 | 19,974 | 20,482 | ||||
Land [Member] | Accumulated depreciation and impairment [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Accumulated depreciation and impairment | (273) | (273) | (273) | ||||
Land [Member] | Net carrying amount [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Net carrying amount | 10,606 | 19,701 | 20,209 | ||||
Buildings [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 72,405 | 132,940 | 129,911 | ||||
Accumulated depreciation and impairment | (38,232) | (51,740) | (42,001) | ||||
Net carrying amount | 34,173 | 81,200 | 87,910 | ||||
Net initial carrying amount | 81,200 | 87,910 | 95,674 | ||||
Additions | [1] | 131 | 412 | 459 | |||
Depreciation charge | (5,455) | (7,636) | (7,387) | ||||
Sale of assets, net | (10) | [2] | (134) | [2] | |||
Disposals, net | (647) | (2,014) | (674) | ||||
Impairment loss | (161) | ||||||
Transfers | (30,458) | [3] | (1,187) | [3] | |||
Deconsolidation, net (iv) | [4] | (3,418) | |||||
Reclassifications | (6,515) | 1,404 | 1,672 | ||||
Translations adjustments | (655) | 1,419 | (647) | ||||
Net final carrying amount | 34,173 | 81,200 | 87,910 | ||||
Buildings [Member] | Cost [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 132,940 | 129,911 | 129,482 | ||||
Buildings [Member] | Accumulated depreciation and impairment [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Accumulated depreciation and impairment | (51,740) | (42,001) | (33,808) | ||||
Buildings [Member] | Net carrying amount [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Net carrying amount | 81,200 | 87,910 | 95,674 | ||||
Machinery [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 849,980 | 750,769 | 726,173 | ||||
Accumulated depreciation and impairment | (629,230) | (493,532) | (454,817) | ||||
Net carrying amount | 220,750 | 257,237 | 271,356 | ||||
Net initial carrying amount | 257,237 | 271,356 | 254,215 | ||||
Additions | [1] | 15,786 | 17,941 | 23,011 | |||
Depreciation charge | (49,753) | (53,220) | (48,035) | ||||
Sale of assets, net | (4,361) | [2] | (753) | [2] | (3,365) | ||
Disposals, net | (610) | (237) | (316) | ||||
Impairment loss | (8,055) | (5,069) | (3,155) | ||||
Transfers | 120 | [3] | [3] | ||||
Deconsolidation, net (iv) | [4] | ||||||
Reclassifications | 13,444 | 23,745 | 52,720 | ||||
Translations adjustments | (3,058) | 3,474 | (3,719) | ||||
Net final carrying amount | 220,750 | 257,237 | 271,356 | ||||
Machinery [Member] | Cost [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 750,769 | 726,173 | 689,845 | ||||
Machinery [Member] | Accumulated depreciation and impairment [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Accumulated depreciation and impairment | (493,532) | (454,817) | (435,630) | ||||
Machinery [Member] | Net carrying amount [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Net carrying amount | 257,237 | 271,356 | 254,215 | ||||
Vehicles [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 219,105 | 64,666 | 75,146 | ||||
Accumulated depreciation and impairment | (207,287) | (47,942) | (48,823) | ||||
Net carrying amount | 11,818 | 16,724 | 26,323 | ||||
Net initial carrying amount | 16,724 | 26,323 | 40,077 | ||||
Additions | [1] | 519 | 866 | ||||
Depreciation charge | (4,561) | (4,461) | (9,816) | ||||
Sale of assets, net | (1,143) | [2] | (5,926) | [2] | (4,299) | ||
Disposals, net | (111) | (94) | (101) | ||||
Impairment loss | (17) | ||||||
Transfers | 14 | [3] | [3] | ||||
Deconsolidation, net (iv) | [4] | (14) | |||||
Reclassifications | 918 | 35 | 342 | ||||
Translations adjustments | (528) | 864 | (746) | ||||
Net final carrying amount | 11,818 | 16,724 | 26,323 | ||||
Vehicles [Member] | Cost [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 64,666 | 75,146 | 85,349 | ||||
Vehicles [Member] | Accumulated depreciation and impairment [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Accumulated depreciation and impairment | (47,942) | (48,823) | (45,272) | ||||
Vehicles [Member] | Net carrying amount [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Net carrying amount | 16,724 | 26,323 | 40,077 | ||||
Furniture and fixtures [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 33,614 | 52,843 | 58,236 | ||||
Accumulated depreciation and impairment | (26,763) | (44,906) | (49,652) | ||||
Net carrying amount | 6,851 | 7,937 | 8,584 | ||||
Net initial carrying amount | 7,937 | 8,584 | 10,332 | ||||
Additions | [1] | 661 | 844 | 759 | |||
Depreciation charge | (1,335) | (1,344) | (2,338) | ||||
Sale of assets, net | (31) | [2] | (28) | [2] | (47) | ||
Disposals, net | (127) | (140) | (187) | ||||
Impairment loss | 33 | ||||||
Transfers | [3] | [3] | |||||
Deconsolidation, net (iv) | [4] | (199) | |||||
Reclassifications | (2) | 207 | |||||
Translations adjustments | (53) | (12) | (142) | ||||
Net final carrying amount | 6,851 | 7,937 | 8,584 | ||||
Furniture and fixtures [Member] | Cost [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 52,843 | 58,236 | 59,643 | ||||
Furniture and fixtures [Member] | Accumulated depreciation and impairment [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Accumulated depreciation and impairment | (44,906) | (49,652) | (49,311) | ||||
Furniture and fixtures [Member] | Net carrying amount [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Net carrying amount | 7,937 | 8,584 | 10,332 | ||||
Other equipment [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 57,707 | 156,111 | 179,179 | ||||
Accumulated depreciation and impairment | (51,192) | (140,635) | (155,808) | ||||
Net carrying amount | 6,515 | 15,476 | 23,371 | ||||
Net initial carrying amount | 15,476 | 23,371 | 31,043 | ||||
Additions | [1] | 5,175 | 1,781 | 9,897 | |||
Depreciation charge | (9,676) | (11,899) | (12,989) | ||||
Sale of assets, net | (139) | [2] | (20) | [2] | (72) | ||
Disposals, net | (22) | 6 | (2,350) | ||||
Impairment loss | |||||||
Transfers | [3] | 89 | [3] | ||||
Deconsolidation, net (iv) | [4] | (4,304) | |||||
Reclassifications | 484 | 379 | 369 | ||||
Translations adjustments | (479) | 1,769 | (2,527) | ||||
Net final carrying amount | 6,515 | 15,476 | 23,371 | ||||
Other equipment [Member] | Cost [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 156,111 | 179,179 | 170,622 | ||||
Other equipment [Member] | Accumulated depreciation and impairment [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Accumulated depreciation and impairment | (140,635) | (155,808) | (139,579) | ||||
Other equipment [Member] | Net carrying amount [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Net carrying amount | 15,476 | 23,371 | 31,043 | ||||
Replacement and in-transit units [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 11,850 | 11,957 | 10,624 | ||||
Accumulated depreciation and impairment | (10) | (11) | (11) | ||||
Net carrying amount | 11,840 | 11,946 | 10,613 | ||||
Net initial carrying amount | 11,946 | 10,613 | 17,804 | ||||
Additions | [1] | 2,572 | 3,549 | 7,036 | |||
Depreciation charge | (1) | ||||||
Sale of assets, net | [2] | [2] | (9) | ||||
Disposals, net | |||||||
Impairment loss | (33) | ||||||
Transfers | [3] | ||||||
Deconsolidation, net (iv) | [4] | ||||||
Reclassifications | (2,645) | (2,216) | (14,217) | ||||
Translations adjustments | |||||||
Net final carrying amount | 11,840 | 11,946 | 10,613 | ||||
Replacement and in-transit units [Member] | Cost [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 11,957 | 10,624 | 17,814 | ||||
Replacement and in-transit units [Member] | Accumulated depreciation and impairment [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Accumulated depreciation and impairment | (11) | (11) | (10) | ||||
Replacement and in-transit units [Member] | Net carrying amount [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Net carrying amount | 11,946 | 10,613 | 17,804 | ||||
Work in progress [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 1,505 | 20,481 | 32,269 | ||||
Accumulated depreciation and impairment | (16,138) | (16,137) | |||||
Net carrying amount | 1,505 | 4,343 | 16,132 | ||||
Net initial carrying amount | 4,343 | 16,132 | 34,230 | ||||
Additions | [1] | 13,262 | 11,538 | 39,584 | |||
Depreciation charge | |||||||
Sale of assets, net | [2] | [2] | |||||
Disposals, net | |||||||
Impairment loss | (15,785) | ||||||
Transfers | (218) | [3] | (804) | [3] | |||
Deconsolidation, net (iv) | [4] | ||||||
Reclassifications | (15,882) | (23,347) | (41,093) | ||||
Translations adjustments | 20 | ||||||
Net final carrying amount | 1,505 | 4,343 | 16,132 | ||||
Work in progress [Member] | Cost [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Cost | 20,481 | 32,269 | 34,582 | ||||
Work in progress [Member] | Accumulated depreciation and impairment [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Accumulated depreciation and impairment | (16,138) | (16,137) | (352) | ||||
Work in progress [Member] | Net carrying amount [Member] | |||||||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of property, plant and equipment accounts and its related accumulated depreciation [Line Items] | |||||||
Net carrying amount | S/ 4,343 | S/ 16,132 | S/ 34,230 | ||||
[1] | In 2019, 2020 and 2021, additions correspond to acquisitions measured at cost under direct acquisition and, to a lesser extent, under financial leasing. | ||||||
[2] | A reversal of S/2.1 million is included in the gross margin and S/7.8 million in item "other income and expenses, net". The income presented in item “other income and expenses, net” for S/9.6 million generates a gain of S/1.8 million (S/9.1 million of income in this item and a gain of S/2.6 million in 2020 and S/12.7 million of income in this item and a gain of S/6.1 million in 2019) (Note 28). | ||||||
[3] | Corresponds mainly to the building located in Surquillo that has been reclassified to Investment Properties due to management's decision to rent the property located at 4675 Paseo de la República Avenue for a net book value of S/42.6 million. Additionally, Cumbra Peru S.A. through its subsidiary Morelco S.A.S. reclassified land and buildings from item “investment property” to item “property, plant and equipment”, which were under lease for S/1.4 million (In August 2019, said premises located in Colombia were leased for which the net book value of S/1.5 million was transferred from the item "property, plant and equipment" to the item “investment properties”), according to Note 16.1-b. | ||||||
[4] | The subsidiary Adexus S.A. is deconsolidated, in accordance with the purchase and sale agreement signed on December 27, 2021 (Note 36). |
Investment Property, Property_7
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of Depreciation of property, plant and equipment and investment property - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of Depreciation of property, plant and equipment and investment property [Line Items] | |||
Total depreciation of property, plant and equipment and investment property | S/ 70,780 | S/ 78,560 | S/ 80,566 |
Cost of services and goods [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of Depreciation of property, plant and equipment and investment property [Line Items] | |||
Total depreciation of property, plant and equipment and investment property | 60,230 | 66,479 | 70,368 |
Administrative expenses [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of Depreciation of property, plant and equipment and investment property [Line Items] | |||
Total depreciation of property, plant and equipment and investment property | 4,610 | 5,432 | 1,670 |
Depreciation discontinued operations [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of Depreciation of property, plant and equipment and investment property [Line Items] | |||
Total depreciation of property, plant and equipment and investment property | S/ 5,940 | S/ 6,649 | S/ 8,528 |
Investment Property, Property_8
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of net carrying amount of machinery and equipment, vehicles and furniture and fixtures acquired under finance lease contracts - Finance Lease [Member] - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of net carrying amount of machinery and equipment, vehicles and furniture and fixtures acquired under finance lease contracts [Line Items] | |||
Cost of acquisition | S/ 64,640 | S/ 64,623 | S/ 68,553 |
Accumulated depreciation | (53,321) | (52,165) | (46,773) |
Net carrying amount | S/ 11,319 | S/ 12,458 | S/ 21,780 |
Investment Property, Property_9
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of Corporation recognized assets and liabilities for right-of-use - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of Corporation recognized assets and liabilities for right-of-use [Line Items] | |||
Additions | S/ 13,931 | S/ 12,075 | S/ 119,706 |
Deconsolidation, net | (6,632) | ||
Reclassifications | |||
Depreciation charge | (23,699) | (17,531) | (29,396) |
Translations adjustments | (401) | 934 | 271 |
Net final carrying amount | 47,717 | 64,518 | 90,581 |
Cost | 98,391 | 109,517 | 119,977 |
Accumulated depreciation | (50,674) | (44,999) | (29,396) |
Net carrying amount | 47,717 | 64,518 | 90,581 |
Net initial carrying amount | 64,518 | 90,581 | |
Disposals, net | (21,541) | ||
Buildings [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of Corporation recognized assets and liabilities for right-of-use [Line Items] | |||
Additions | 8,260 | 6,681 | 80,279 |
Deconsolidation, net | (6,416) | ||
Reclassifications | |||
Depreciation charge | (12,589) | (13,211) | (13,568) |
Translations adjustments | (352) | 880 | 271 |
Net final carrying amount | 39,772 | 50,869 | 66,982 |
Cost | 61,596 | 75,849 | 80,550 |
Accumulated depreciation | (21,824) | (24,980) | (13,568) |
Net carrying amount | 39,772 | 50,869 | 66,982 |
Net initial carrying amount | 50,869 | 66,982 | |
Disposals, net | (10,463) | ||
Machinery and equipments [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of Corporation recognized assets and liabilities for right-of-use [Line Items] | |||
Additions | 317 | 876 | 18,597 |
Deconsolidation, net | |||
Reclassifications | 1,356 | ||
Depreciation charge | (5,355) | (5,834) | (6,899) |
Translations adjustments | |||
Net final carrying amount | 3,058 | 6,740 | 11,698 |
Cost | 19,671 | 19,344 | 18,597 |
Accumulated depreciation | (16,613) | (12,604) | (6,899) |
Net carrying amount | 3,058 | 6,740 | 11,698 |
Net initial carrying amount | 6,740 | 11,698 | |
Disposals, net | |||
Vehicles [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of Corporation recognized assets and liabilities for right-of-use [Line Items] | |||
Additions | 5,354 | 4,518 | 20,830 |
Deconsolidation, net | (216) | ||
Reclassifications | (1,356) | ||
Depreciation charge | (5,755) | 1,514 | (8,929) |
Translations adjustments | (49) | 54 | |
Net final carrying amount | 4,887 | 6,909 | 11,901 |
Cost | 17,124 | 14,324 | 20,830 |
Accumulated depreciation | (12,237) | (7,415) | (8,929) |
Net carrying amount | 4,887 | 6,909 | S/ 11,901 |
Net initial carrying amount | S/ 6,909 | 11,901 | |
Disposals, net | S/ (11,078) |
Investment Property, Propert_10
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of expense for depreciation of right-of-use assets - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of expense for depreciation of right-of-use assets [Line Items] | |||
Total depreciation of right-of-use assets | S/ 23,699 | S/ 17,531 | S/ 29,396 |
Cost of services and goods [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of expense for depreciation of right-of-use assets [Line Items] | |||
Total depreciation of right-of-use assets | 17,517 | 10,840 | 22,721 |
Administrative expenses [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of expense for depreciation of right-of-use assets [Line Items] | |||
Total depreciation of right-of-use assets | 815 | 961 | 237 |
Depreciation discontinued operations [Member] | |||
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of expense for depreciation of right-of-use assets [Line Items] | |||
Total depreciation of right-of-use assets | S/ 5,367 | S/ 5,730 | S/ 6,438 |
Investment Property, Propert_11
Investment Property, Property, Plant and Equipment, Net and Right-of-Use Assets (Details) - Schedule of total depreciation is composed - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule of total depreciation is composed [Abstract] | |||
Depreciation of property, plant and equipment (Note 16.2) | S/ 70,780 | S/ 78,560 | S/ 80,566 |
Depreciation related to right-of-use assets (Note 16.3) | 23,699 | 17,531 | 29,396 |
Depreciation related to investment property (Note 16.1) | 4,316 | 2,413 | 2,356 |
Depreciation of property, plant and equipment total | S/ 98,795 | S/ 98,504 | S/ 112,318 |
Intangible Assets (Details)
Intangible Assets (Details) S/ in Thousands, $ in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2021PEN (S/) | Dec. 31, 2020CLP ($) | Dec. 31, 2019PEN (S/) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | |
Intangible Assets (Details) [Line Items] | |||||
Assumptions period | 5 years | ||||
Impairment loss reversal | S/ 20,700 | $ 782 | S/ 20,676 | ||
Reclassified to other accounts receivable | S/ 21,800 | ||||
Total estimated investment (in Dollars) | $ | $ 400 | ||||
Costs capitalized | 49,200 | 108,000 | 41,000 | ||
Dismantling wells provision | 7,800 | ||||
Trademark [Member] | - Morelco S.A.S. [Member] | |||||
Intangible Assets (Details) [Line Items] | |||||
Impairment impact in goodwill | S/ 33,000 | ||||
Trademarks acquired | 26,100 | 27,400 | |||
Trademark [Member] | Vial y Vives S.A.C [Member] | |||||
Intangible Assets (Details) [Line Items] | |||||
Trademarks acquired | S/ 47,400 | S/ 51,000 | |||
Oil Lots Three [Member] | Talara, Piura [Member] | UNNA Energia S.A. [Member] | |||||
Intangible Assets (Details) [Line Items] | |||||
Number of wells | 230 | ||||
_Oil Lots Four [Member] | Talara, Piura [Member] | UNNA Energia S.A. [Member] | |||||
Intangible Assets (Details) [Line Items] | |||||
Number of wells | 330 |
Intangible Assets (Details) - S
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization S/ in Thousands, $ in Millions | 12 Months Ended | |||
Dec. 31, 2021PEN (S/) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020CLP ($) | Dec. 31, 2019PEN (S/) | |
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | S/ 791,990 | S/ 854,227 | S/ 868,050 | |
Net initial cost | 791,990 | 854,227 | 868,050 | |
Additions | 67,741 | 50,405 | 138,895 | |
Capitalization of interest expenses | 609 | 1,105 | 3,527 | |
Transfers from assets under construction | (89) | |||
Derecognition - net | (2,689) | (492) | (25,964) | |
Amortization | (106,512) | (98,621) | (107,499) | |
Subsidiary deconsolidation | (751) | |||
Impairment loss | (38,770) | |||
Impairment reversal | 20,700 | $ 782 | 20,676 | |
Translations adjustments | (6,997) | 9,612 | (4,688) | |
Reclassifications | (24,157) | |||
Net final cost | 743,391 | 791,990 | 854,227 | |
At December 31, 2019 | ||||
Intangible assets | 743,391 | 791,990 | 854,227 | |
Goodwill [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 58,946 | 57,367 | 93,288 | |
Net initial cost | 58,946 | 57,367 | 93,288 | |
Additions | ||||
Capitalization of interest expenses | ||||
Transfers from assets under construction | ||||
Derecognition - net | 0 | (930) | ||
Amortization | ||||
Subsidiary deconsolidation | ||||
Impairment loss | (33,089) | |||
Impairment reversal | ||||
Translations adjustments | (1,866) | 1,579 | (1,902) | |
Net final cost | 57,080 | 58,946 | 57,367 | |
At December 31, 2019 | ||||
Intangible assets | 57,080 | 58,946 | 57,367 | |
Trade- Marks [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 78,421 | 70,695 | 60,799 | |
Net initial cost | 78,421 | 70,695 | 60,799 | |
Additions | ||||
Capitalization of interest expenses | ||||
Transfers from assets under construction | ||||
Derecognition - net | 0 | (8,358) | ||
Amortization | ||||
Subsidiary deconsolidation | ||||
Impairment loss | ||||
Impairment reversal | 20,676 | |||
Translations adjustments | (4,984) | 7,810 | (2,422) | |
Reclassifications | (84) | |||
Net final cost | 73,437 | 78,421 | 70,695 | |
At December 31, 2019 | ||||
Intangible assets | 73,437 | 78,421 | 70,695 | |
Concession Rights [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 371,797 | 443,950 | 484,082 | |
Net initial cost | 371,797 | 443,950 | 484,082 | |
Additions | 6,185 | 4,412 | 26,645 | |
Capitalization of interest expenses | 2,725 | |||
Transfers from assets under construction | ||||
Derecognition - net | (862) | 0 | ||
Amortization | (54,304) | (52,408) | (50,102) | |
Subsidiary deconsolidation | ||||
Impairment loss | (3,213) | |||
Impairment reversal | ||||
Translations adjustments | 0 | (16,187) | ||
Reclassifications | (24,157) | |||
Net final cost | 322,816 | 371,797 | 443,950 | |
At December 31, 2019 | ||||
Intangible assets | 322,816 | 371,797 | 443,950 | |
Contractual Relations with Clients [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 523 | 501 | 25,966 | |
Net initial cost | 523 | 501 | 25,966 | |
Additions | ||||
Capitalization of interest expenses | ||||
Transfers from assets under construction | ||||
Derecognition - net | 0 | (11,665) | ||
Amortization | (3,682) | |||
Subsidiary deconsolidation | ||||
Impairment loss | ||||
Impairment reversal | ||||
Translations adjustments | (26) | 22 | (10,118) | |
Net final cost | 497 | 523 | 501 | |
At December 31, 2019 | ||||
Intangible assets | 497 | 523 | 501 | |
Software and Development Costs [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 16,595 | 21,387 | 3,992 | |
Net initial cost | 16,595 | 21,387 | 3,992 | |
Additions | 10,312 | 1,526 | 5,016 | |
Capitalization of interest expenses | ||||
Transfers from assets under construction | (64) | 672 | ||
Derecognition - net | (1,825) | (492) | (2,015) | |
Amortization | (7,269) | (6,037) | (7,529) | |
Subsidiary deconsolidation | (751) | |||
Impairment loss | ||||
Impairment reversal | ||||
Translations adjustments | (121) | 201 | 21,251 | |
Reclassifications | 74 | |||
Net final cost | 16,941 | 16,595 | 21,387 | |
At December 31, 2019 | ||||
Intangible assets | 16,941 | 16,595 | 21,387 | |
Costs of Development of Wells [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 195,001 | 193,974 | 139,221 | |
Net initial cost | 195,001 | 193,974 | 139,221 | |
Additions | 45,518 | 37,994 | 102,022 | |
Capitalization of interest expenses | ||||
Transfers from assets under construction | (25) | |||
Derecognition - net | (2) | 0 | ||
Amortization | (40,501) | (36,942) | (43,552) | |
Subsidiary deconsolidation | ||||
Impairment loss | ||||
Impairment reversal | ||||
Translations adjustments | 0 | (3,717) | ||
Net final cost | 200,016 | 195,001 | 193,974 | |
At December 31, 2019 | ||||
Intangible assets | 200,016 | 195,001 | 193,974 | |
Land Use Rights [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 10,820 | 10,820 | 13,288 | |
Net initial cost | 10,820 | 10,820 | 13,288 | |
Additions | ||||
Capitalization of interest expenses | ||||
Transfers from assets under construction | ||||
Derecognition - net | 0 | |||
Amortization | ||||
Subsidiary deconsolidation | ||||
Impairment loss | (2,468) | |||
Impairment reversal | ||||
Translations adjustments | 0 | |||
Net final cost | 10,820 | 10,820 | 10,820 | |
At December 31, 2019 | ||||
Intangible assets | 10,820 | 10,820 | 10,820 | |
Other Assets [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 59,887 | 55,533 | 47,414 | |
Net initial cost | 59,887 | 55,533 | 47,414 | |
Additions | 5,726 | 6,473 | 5,212 | |
Capitalization of interest expenses | 609 | 1,105 | 802 | |
Transfers from assets under construction | (672) | |||
Derecognition - net | 0 | (2,996) | ||
Amortization | (4,438) | (3,234) | (2,634) | |
Subsidiary deconsolidation | ||||
Impairment loss | ||||
Impairment reversal | ||||
Translations adjustments | 0 | 8,407 | ||
Reclassifications | 10 | |||
Net final cost | 61,784 | 59,887 | 55,533 | |
At December 31, 2019 | ||||
Intangible assets | 61,784 | 59,887 | 55,533 | |
Gross carrying amount [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 1,739,418 | 1,698,976 | 1,818,614 | |
At December 31, 2019 | ||||
Intangible assets | 1,453,556 | 1,739,418 | 1,698,976 | |
Gross carrying amount [member] | Goodwill [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 95,466 | 93,887 | 170,346 | |
At December 31, 2019 | ||||
Intangible assets | 93,600 | 95,466 | 93,887 | |
Gross carrying amount [member] | Trade- Marks [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 81,562 | 73,836 | 106,185 | |
At December 31, 2019 | ||||
Intangible assets | 76,578 | 81,562 | 73,836 | |
Gross carrying amount [member] | Concession Rights [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 690,545 | 710,290 | 885,915 | |
At December 31, 2019 | ||||
Intangible assets | 694,809 | 690,545 | 710,290 | |
Gross carrying amount [member] | Contractual Relations with Clients [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 77,542 | 72,810 | 100,337 | |
At December 31, 2019 | ||||
Intangible assets | 74,155 | 77,542 | 72,810 | |
Gross carrying amount [member] | Software and Development Costs [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 63,871 | 63,278 | 22,565 | |
At December 31, 2019 | ||||
Intangible assets | 45,239 | 63,871 | 63,278 | |
Gross carrying amount [member] | Costs of Development of Wells [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 596,499 | 558,530 | 464,847 | |
At December 31, 2019 | ||||
Intangible assets | 328,907 | 596,499 | 558,530 | |
Gross carrying amount [member] | Land Use Rights [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 13,288 | 13,288 | 13,288 | |
At December 31, 2019 | ||||
Intangible assets | 13,288 | 13,288 | 13,288 | |
Gross carrying amount [member] | Other Assets [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | 120,645 | 113,057 | 55,131 | |
At December 31, 2019 | ||||
Intangible assets | 126,980 | 120,645 | 113,057 | |
Accumulated depreciation, amortisation and impairment [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | (947,428) | (844,749) | (950,564) | |
At December 31, 2019 | ||||
Intangible assets | (710,165) | (947,428) | (844,749) | |
Accumulated depreciation, amortisation and impairment [member] | Goodwill [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | (36,520) | (36,520) | (77,058) | |
At December 31, 2019 | ||||
Intangible assets | (36,520) | (36,520) | (36,520) | |
Accumulated depreciation, amortisation and impairment [member] | Trade- Marks [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | (3,141) | (3,141) | (45,386) | |
At December 31, 2019 | ||||
Intangible assets | (3,141) | (3,141) | (3,141) | |
Accumulated depreciation, amortisation and impairment [member] | Concession Rights [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | (318,748) | (266,340) | (401,833) | |
At December 31, 2019 | ||||
Intangible assets | (371,993) | (318,748) | (266,340) | |
Accumulated depreciation, amortisation and impairment [member] | Contractual Relations with Clients [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | (77,019) | (72,309) | (74,371) | |
At December 31, 2019 | ||||
Intangible assets | (73,658) | (77,019) | (72,309) | |
Accumulated depreciation, amortisation and impairment [member] | Software and Development Costs [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | (47,276) | (41,891) | (18,573) | |
At December 31, 2019 | ||||
Intangible assets | (28,298) | (47,276) | (41,891) | |
Accumulated depreciation, amortisation and impairment [member] | Costs of Development of Wells [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | (401,498) | (364,556) | (325,626) | |
At December 31, 2019 | ||||
Intangible assets | (128,891) | (401,498) | (364,556) | |
Accumulated depreciation, amortisation and impairment [member] | Land Use Rights [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | (2,468) | (2,468) | ||
At December 31, 2019 | ||||
Intangible assets | (2,468) | (2,468) | (2,468) | |
Accumulated depreciation, amortisation and impairment [member] | Other Assets [member] | ||||
Intangible Assets (Details) - Schedule of movement of intangible assets and that of their related accumulated amortization [Line Items] | ||||
Intangible assets | (60,758) | (57,524) | (7,717) | |
At December 31, 2019 | ||||
Intangible assets | S/ (65,196) | S/ (60,758) | S/ (57,524) |
Intangible Assets (Details) -_2
Intangible Assets (Details) - Schedule of goodwill allocated to cash-generating units - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Intangible Assets (Details) - Schedule of goodwill allocated to cash-generating units [Line Items] | |||
Goodwill | S/ 57,080 | S/ 58,946 | S/ 57,367 |
Engineering And Construction [Member] | |||
Intangible Assets (Details) - Schedule of goodwill allocated to cash-generating units [Line Items] | |||
Goodwill | 36,345 | 38,211 | 36,632 |
Electromechanical [Member] | |||
Intangible Assets (Details) - Schedule of goodwill allocated to cash-generating units [Line Items] | |||
Goodwill | S/ 20,735 | S/ 20,735 | S/ 20,735 |
Intangible Assets (Details) -_3
Intangible Assets (Details) - Schedule of major assumptions used by the group in determining the fair value less cost of disposal | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Engineering And Construction [Member] | |||
2019 | |||
Gross margin | 11.10% | 12.50% | 12.43% |
Terminal growth rate | 3.30% | 3.00% | 3.00% |
Discount rate | 11.97% | 11.06% | 11.83% |
Electromechanical [Member] | |||
2019 | |||
Gross margin | 9.04% | 9.36% | 8.86% |
Terminal growth rate | 2.00% | 2.00% | |
Discount rate | 13.28% | 11.77% | 11.40% |
- Morelco S.A.S. [Member] | Engineering And Construction [Member] | |||
2019 | |||
Average revenue growth rate | 23.16% | 7.60% | 5.70% |
Terminal growth rate | 3.30% | 3.00% | 3.00% |
Discount rate | 11.97% | 11.06% | 11.83% |
Vial y Vives - DSD S.A. [Member] | Engineering And Construction [Member] | |||
2019 | |||
Average revenue growth rate | 5.00% | 5.00% | 19.58% |
Terminal growth rate | 3.00% | 2.10% | 2.00% |
Discount rate | 17.60% | 13.16% | 14.12% |
Intangible Assets (Details) -_4
Intangible Assets (Details) - Schedule of detailed information about concessions - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Schedule of detailed information about concessions [Abstract] | ||
EPC Contract | S/ 46,719 | S/ 54,506 |
Construction of the second tranch of the “Ancon-Huacho-Pativilca” highway | 2,919 | 3,406 |
Road improvement | 11,795 | 12,922 |
Implementation for road safety | 10,179 | 9,034 |
Work capitalization of second roadway | 240,279 | 280,326 |
Disbursements for land adquisition | 4,883 | 4,510 |
Other intangible assets contracted for the delivery process | 5,118 | 5,026 |
Total Red Vial 5 S.A. | 321,892 | 369,730 |
Other concessions | 924 | 2,067 |
Total other concessions | S/ 322,816 | S/ 371,797 |
Intangible Assets (Details) -_5
Intangible Assets (Details) - Schedule of amortization of intangibles - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Intangible Assets (Details) - Schedule of amortization of intangibles [Line Items] | |||
Amortization expense of intangible assets | S/ 106,512 | S/ 98,621 | S/ 107,499 |
Cost Of Sales And Services [Member] | |||
Intangible Assets (Details) - Schedule of amortization of intangibles [Line Items] | |||
Amortization expense of intangible assets | 101,578 | 93,135 | 99,589 |
Administrative Expenses [Member] | |||
Intangible Assets (Details) - Schedule of amortization of intangibles [Line Items] | |||
Amortization expense of intangible assets | 3,642 | 4,138 | 5,689 |
Amortization Discontinued Operations [Member] | |||
Intangible Assets (Details) - Schedule of amortization of intangibles [Line Items] | |||
Amortization expense of intangible assets | S/ 1,292 | S/ 1,348 | S/ 2,221 |
Borrowings (Details)
Borrowings (Details) S/ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||||||||||||||
Oct. 31, 2021USD ($) | Dec. 28, 2020PEN (S/) | Dec. 28, 2020USD ($) | May 29, 2018 | Dec. 31, 2021PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2021USD ($) | Aug. 13, 2021 | Jul. 31, 2021PEN (S/) | Jul. 31, 2021USD ($) | Apr. 30, 2021USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Nov. 30, 2019USD ($) | Jul. 31, 2019USD ($) | Jun. 11, 2018PEN (S/) | Jun. 11, 2018USD ($) | |
Borrowings (Details) [Line Items] | ||||||||||||||||||
Percentage of the amount of bills receivable | 90.00% | 90.00% | ||||||||||||||||
Percentage of the amount of income provisions | 80.00% | 80.00% | ||||||||||||||||
Amount pending payment percentage | 50.00% | 50.00% | ||||||||||||||||
Account receivable rate | 212.00% | 212.00% | 56.00% | |||||||||||||||
Unbilled receivable rate | 284.00% | 284.00% | 142.00% | 142.00% | ||||||||||||||
Outstanding line of credit | S/ 29,500 | $ 7,400 | S/ 81,300 | $ 20,000 | S/ 111,000 | $ 30,700 | ||||||||||||
Borrowings | S/ | 579,900 | S/ 898,320 | ||||||||||||||||
Total financing amount | S/ 217,400 | $ 54,300 | ||||||||||||||||
Borrowings, adjustment to interest rate basis | 8.00% | |||||||||||||||||
Borrowings, interest rate | 48.80% | 48.80% | 48.80% | 10.00% | 10.00% | |||||||||||||
Loan agreement | $ 1,500 | |||||||||||||||||
Amortization amount | 1,500 | |||||||||||||||||
Maturing amount | S/ 138,000 | $ 42,300 | ||||||||||||||||
Investment capital percentage | 48.80% | |||||||||||||||||
Amortized cost | $ 46,000 | |||||||||||||||||
Interest income, other | $ 3,900 | |||||||||||||||||
Borrowings liability | 42,100 | |||||||||||||||||
Loan balance payables | S/ 165,800 | $ 41,500 | S/ 152,500 | 42,100 | ||||||||||||||
Loans payable (in Nuevos Soles) | S/ | 12,400 | |||||||||||||||||
Accrued interest amount (in Nuevos Soles) | S/ | 10,000 | 14,500 | ||||||||||||||||
Banco santander loan [Member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Line of credit facility, maximum amount outstanding during period | S/ 85,900 | $ 23,700 | ||||||||||||||||
Debt paid | $ 2,500 | 1,000 | ||||||||||||||||
Principal amount of loan | 80,800 | $ 20,200 | 85,900 | 23,700 | ||||||||||||||
Los Parques de Comas [Member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Promissory note | S/ | S/ 9,700 | |||||||||||||||||
Maturing amount | S/ | 8,200 | |||||||||||||||||
El Nuevo Rancho [Member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Borrowings, interest rate | 7.00% | 7.00% | ||||||||||||||||
Promissory note | S/ | S/ 18,400 | |||||||||||||||||
Maturing amount | S/ | 24,200 | |||||||||||||||||
Los Parques del Mar [Member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Borrowings, interest rate | 7.00% | 7.00% | ||||||||||||||||
Promissory note | S/ | S/ 35,700 | |||||||||||||||||
Maturing amount | S/ | 43,400 | |||||||||||||||||
Los Parques de Carabayllo III [Member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Borrowings, interest rate | 11.00% | 11.00% | ||||||||||||||||
Promissory note | S/ 1,400 | $ 350 | ||||||||||||||||
Maturing amount | 3,600 | 1,000 | ||||||||||||||||
AENZA S.A.A. [Member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Loans payable (in Nuevos Soles) | S/ | 11,300 | |||||||||||||||||
Adexus S.A. [Member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Loans payable (in Nuevos Soles) | S/ | S/ 37,700 | |||||||||||||||||
Bottom of range [member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Fixed interest rates percentage | 0.90% | 0.90% | 0.50% | |||||||||||||||
Debt Percentage | 3.90% | 3.90% | 0.70% | |||||||||||||||
Bottom of range [member] | Los Parques de Comas [Member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Borrowings, interest rate | 7.85% | 7.85% | ||||||||||||||||
Top of range [member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Fixed interest rates percentage | 11.00% | 11.00% | 11.00% | |||||||||||||||
Top of range [member] | Los Parques de Comas [Member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Borrowings, interest rate | 8.89% | 8.89% | ||||||||||||||||
Maximum [Member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Borrowings, interest rate | 10.10% | |||||||||||||||||
Debt Percentage | 10.00% | 10.00% | 11.00% | |||||||||||||||
Libor [Member] | Banco santander loan [Member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Borrowings, interest rate | 8.00% | 8.00% | ||||||||||||||||
Ban Co De Credito Del Peru SA [Member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Borrowings | 84,100 | 23,200 | ||||||||||||||||
Unna Energia S.A. [Member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Borrowings | S/ 36,800 | $ 9,200 | 40,000 | 11,000 | ||||||||||||||
Total financing amount | S/ 73,600 | $ 18,400 | 80,000 | 22,000 | ||||||||||||||
Borrowings, adjustment to interest rate basis | 50.00% | 50.00% | 50.00% | |||||||||||||||
Loan amount disbursed to associates | $ 23,000 | |||||||||||||||||
CS Peru Infrastructure Holdings LLC Loan [Member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Borrowings | 93,200 | 25,700 | ||||||||||||||||
Term loan credit agreement | $ 35,000 | |||||||||||||||||
CS Peru Infrastructure Holdings LLC Loan [Member] | Bottom of range [member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Borrowings, interest rate | 9.10% | |||||||||||||||||
Técnicas reunidas [Member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Borrowings | $ 23,700 | |||||||||||||||||
Number of letter of credit | 2 | |||||||||||||||||
Medium Term Loan Credit Agreement [Member] | Ban Co De Credito Del Peru SA [Member] | ||||||||||||||||||
Borrowings (Details) [Line Items] | ||||||||||||||||||
Outstanding line of credit | S/ 108,700 | $ 27,200 | ||||||||||||||||
Term loan credit agreement to finance the investments committed | 30,000 | |||||||||||||||||
Line of credit facility maximum borrowing capacity one finance the additional investments | 70,000 | |||||||||||||||||
Maximum exposure limit | 80,000 | |||||||||||||||||
Loan Facilities Repaid Term | 8 years | 8 years | ||||||||||||||||
Additional cash transfer | 4,300 | $ 7,300 | ||||||||||||||||
Borrowings | $ 16,900 | $ 28,200 | S/ 168,200 | $ 46,400 | ||||||||||||||
Acquired Contractual Position Percentage | 50.00% | 50.00% | ||||||||||||||||
Term loan credit agreement | $ 46,000 |
Borrowings (Details) - Schedule
Borrowings (Details) - Schedule of borrowings item - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Borrowings (Details) - Schedule of borrowings item [Line Items] | ||
Total | S/ 579,900 | S/ 898,320 |
Current borrowings | 241,340 | 452,884 |
Non-current borrowings | 338,560 | 445,436 |
Bank loans [member] | ||
Borrowings (Details) - Schedule of borrowings item [Line Items] | ||
Total | 343,679 | 571,659 |
Current borrowings | 217,935 | 409,272 |
Non-current borrowings | 125,744 | 162,387 |
Finance Leases Liabilities [member] | ||
Borrowings (Details) - Schedule of borrowings item [Line Items] | ||
Total | 9,836 | 52,391 |
Current borrowings | 5,118 | 13,635 |
Non-current borrowings | 4,718 | 38,756 |
Lease liability for right-of-use asset [member] | ||
Borrowings (Details) - Schedule of borrowings item [Line Items] | ||
Total | 60,507 | 72,726 |
Current borrowings | 14,541 | 19,950 |
Non-current borrowings | 45,966 | 52,776 |
Other financial liabilities [member] | ||
Borrowings (Details) - Schedule of borrowings item [Line Items] | ||
Total | 165,878 | 201,544 |
Current borrowings | 3,746 | 10,027 |
Non-current borrowings | S/ 162,132 | S/ 191,517 |
Borrowings (Details) - Schedu_2
Borrowings (Details) - Schedule of bank loan - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Cumbra Peru S.A. [Member] | ||
Borrowings (Details) - Schedule of bank loan [Line Items] | ||
Date of maturity | 2025 years | |
Current | S/ 129,905 | S/ 222,924 |
Non-current | S/ 4,526 | 19,977 |
Cumbra Peru S.A. [Member] | Bottom of range [member] | ||
Borrowings (Details) - Schedule of bank loan [Line Items] | ||
Interest rate | 0.90% | |
Cumbra Peru S.A. [Member] | Top of range [member] | ||
Borrowings (Details) - Schedule of bank loan [Line Items] | ||
Interest rate | 8.50% | |
Unna Energia S.A. [Member] | ||
Borrowings (Details) - Schedule of bank loan [Line Items] | ||
Date of maturity | 2027 years | |
Current | S/ 23,351 | 24,950 |
Non-current | S/ 120,635 | 99,474 |
Unna Energia S.A. [Member] | Bottom of range [member] | ||
Borrowings (Details) - Schedule of bank loan [Line Items] | ||
Interest rate | 6.04% | |
Unna Energia S.A. [Member] | Top of range [member] | ||
Borrowings (Details) - Schedule of bank loan [Line Items] | ||
Interest rate | 7.68% | |
Viva Negocio Inmobiliario S.A. [Member] | ||
Borrowings (Details) - Schedule of bank loan [Line Items] | ||
Date of maturity | 2023 years | |
Current | S/ 64,679 | 90,197 |
Non-current | S/ 583 | 3,318 |
Viva Negocio Inmobiliario S.A. [Member] | Bottom of range [member] | ||
Borrowings (Details) - Schedule of bank loan [Line Items] | ||
Interest rate | 7.00% | |
Viva Negocio Inmobiliario S.A. [Member] | Top of range [member] | ||
Borrowings (Details) - Schedule of bank loan [Line Items] | ||
Interest rate | 11.00% | |
AENZA S.A.A. [Member] | ||
Borrowings (Details) - Schedule of bank loan [Line Items] | ||
Date of maturity | 2021 years | |
Current | 51,977 | |
Non-current | 39,618 | |
AENZA S.A.A. [Member] | Bottom of range [member] | ||
Borrowings (Details) - Schedule of bank loan [Line Items] | ||
Interest rate | 9.10% | |
AENZA S.A.A. [Member] | Top of range [member] | ||
Borrowings (Details) - Schedule of bank loan [Line Items] | ||
Interest rate | 10.10% | |
Adexus S.A. [Member] | ||
Borrowings (Details) - Schedule of bank loan [Line Items] | ||
Date of maturity | 2021 years | |
Current | 19,224 | |
Non-current | ||
Adexus S.A. [Member] | Bottom of range [member] | ||
Borrowings (Details) - Schedule of bank loan [Line Items] | ||
Interest rate | 0.50% | |
Adexus S.A. [Member] | Top of range [member] | ||
Borrowings (Details) - Schedule of bank loan [Line Items] | ||
Interest rate | 1.15% | |
Interest Rate total [Member] | ||
Borrowings (Details) - Schedule of bank loan [Line Items] | ||
Current | S/ 217,935 | 409,272 |
Non-current | S/ 125,744 | S/ 162,387 |
Borrowings (Details) - Schedu_3
Borrowings (Details) - Schedule of finance lease obligations - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Borrowings (Details) - Schedule of finance lease obligations [Line Items] | ||
Current | S/ 5,118 | S/ 13,635 |
Non-current | S/ 4,718 | 38,756 |
Viva Negocio Inmobiliario S.A. [Member] | ||
Borrowings (Details) - Schedule of finance lease obligations [Line Items] | ||
Date of maturity | 2024 days | |
Current | S/ 2,754 | 4,617 |
Non-current | S/ 3,924 | 4,357 |
Viva Negocio Inmobiliario S.A. [Member] | Bottom of range [member] | ||
Borrowings (Details) - Schedule of finance lease obligations [Line Items] | ||
Interest rate | 7.79% | |
Viva Negocio Inmobiliario S.A. [Member] | Top of range [member] | ||
Borrowings (Details) - Schedule of finance lease obligations [Line Items] | ||
Interest rate | 9.04% | |
Cumbra Peru S.A. [Member] | ||
Borrowings (Details) - Schedule of finance lease obligations [Line Items] | ||
Date of maturity | 2023 days | |
Current | S/ 2,318 | 2,021 |
Non-current | S/ 794 | 2,823 |
Cumbra Peru S.A. [Member] | Bottom of range [member] | ||
Borrowings (Details) - Schedule of finance lease obligations [Line Items] | ||
Interest rate | 4.80% | |
Cumbra Peru S.A. [Member] | Top of range [member] | ||
Borrowings (Details) - Schedule of finance lease obligations [Line Items] | ||
Interest rate | 7.67% | |
Unna Energia S.A. [Member] | ||
Borrowings (Details) - Schedule of finance lease obligations [Line Items] | ||
Interest rate | 6.28% | |
Date of maturity | 2022 days | |
Current | S/ 46 | 149 |
Non-current | 19 | |
Adexus S.A. [Member] | ||
Borrowings (Details) - Schedule of finance lease obligations [Line Items] | ||
Date of maturity | 2027 days | |
Current | 6,848 | |
Non-current | S/ 31,557 | |
Adexus S.A. [Member] | Bottom of range [member] | ||
Borrowings (Details) - Schedule of finance lease obligations [Line Items] | ||
Interest rate | 0.23% | |
Adexus S.A. [Member] | Top of range [member] | ||
Borrowings (Details) - Schedule of finance lease obligations [Line Items] | ||
Interest rate | 0.51% |
Borrowings (Details) - Schedu_4
Borrowings (Details) - Schedule of minimum payment by maturity and present value of finance lease obligations S/ in Thousands, $ in Thousands | Dec. 31, 2021PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) |
Borrowings (Details) - Schedule of minimum payment by maturity and present value of finance lease obligations [Line Items] | ||||
Finance lease total | S/ 10,533 | S/ 60,572 | ||
Future financial charges | (697) | (8,181) | ||
Present value of the obligations for finance lease contracts | 9,836 | $ 3,121,368 | 52,391 | $ 3,314,268 |
Up to 1 year [Member] | ||||
Borrowings (Details) - Schedule of minimum payment by maturity and present value of finance lease obligations [Line Items] | ||||
Finance lease total | 5,624 | 16,287 | ||
From 1 to 5 years [Member] | ||||
Borrowings (Details) - Schedule of minimum payment by maturity and present value of finance lease obligations [Line Items] | ||||
Finance lease total | S/ 4,909 | 35,770 | ||
Over 5 years [Memebr] | ||||
Borrowings (Details) - Schedule of minimum payment by maturity and present value of finance lease obligations [Line Items] | ||||
Finance lease total | S/ 8,515 |
Borrowings (Details) - Schedu_5
Borrowings (Details) - Schedule of present value of finance lease obligations - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Borrowings (Details) - Schedule of present value of finance lease obligations [Line Items] | ||
Lease liability for right-of-use asset | S/ 9,836 | S/ 52,391 |
Up to 1 year [Member] | ||
Borrowings (Details) - Schedule of present value of finance lease obligations [Line Items] | ||
Lease liability for right-of-use asset | 5,118 | 13,635 |
From 1 year to 5 years [Member] | ||
Borrowings (Details) - Schedule of present value of finance lease obligations [Line Items] | ||
Lease liability for right-of-use asset | S/ 4,718 | 30,635 |
Over 5 years [Member] | ||
Borrowings (Details) - Schedule of present value of finance lease obligations [Line Items] | ||
Lease liability for right-of-use asset | S/ 8,121 |
Borrowings (Details) - Schedu_6
Borrowings (Details) - Schedule of lease liability for right-of-use asset - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Borrowings (Details) - Schedule of lease liability for right-of-use asset [Line Items] | ||
Current | S/ 14,541 | S/ 19,950 |
Non-current | S/ 45,966 | 52,776 |
AENZA S.A.A. [Member] | ||
Borrowings (Details) - Schedule of lease liability for right-of-use asset [Line Items] | ||
Interest rate | 7.88% | |
Date of maturity | 2027 years | |
Current | S/ 8,075 | 6,534 |
Non-current | S/ 43,112 | 41,403 |
Unna Energía S.A. [Member] | ||
Borrowings (Details) - Schedule of lease liability for right-of-use asset [Line Items] | ||
Interest rate | 7.10% | |
Date of maturity | 2024 years | |
Current | S/ 2,831 | 6,765 |
Non-current | S/ 1,058 | 2,926 |
Unna Transporte S.A.C. [Member] | ||
Borrowings (Details) - Schedule of lease liability for right-of-use asset [Line Items] | ||
Date of maturity | 2024 years | |
Current | S/ 2,782 | 2,047 |
Non-current | S/ 1,721 | 1,925 |
Unna Transporte S.A.C. [Member] | Bottom of range [member] | ||
Borrowings (Details) - Schedule of lease liability for right-of-use asset [Line Items] | ||
Interest rate | 5.40% | |
Unna Transporte S.A.C. [Member] | Top of range [member] | ||
Borrowings (Details) - Schedule of lease liability for right-of-use asset [Line Items] | ||
Interest rate | 7.50% | |
Cumbra Peru S.A. [Member] | ||
Borrowings (Details) - Schedule of lease liability for right-of-use asset [Line Items] | ||
Interest rate | 6.95% | |
Date of maturity | 2023 years | |
Current | S/ 423 | 852 |
Non-current | 426 | |
Cumbra Ingenieria S.A. [Member] | ||
Borrowings (Details) - Schedule of lease liability for right-of-use asset [Line Items] | ||
Date of maturity | 2023 years | |
Current | S/ 367 | 302 |
Non-current | S/ 60 | 381 |
Cumbra Ingenieria S.A. [Member] | Bottom of range [member] | ||
Borrowings (Details) - Schedule of lease liability for right-of-use asset [Line Items] | ||
Interest rate | 6.95% | |
Cumbra Ingenieria S.A. [Member] | Top of range [member] | ||
Borrowings (Details) - Schedule of lease liability for right-of-use asset [Line Items] | ||
Interest rate | 7.40% | |
Tren Urbano de Lima S.A. [Member] | ||
Borrowings (Details) - Schedule of lease liability for right-of-use asset [Line Items] | ||
Interest rate | 10.00% | |
Date of maturity | 2023 years | |
Current | S/ 45 | 42 |
Non-current | S/ 15 | 59 |
Adexus S.A. (Note 36) [Member] | ||
Borrowings (Details) - Schedule of lease liability for right-of-use asset [Line Items] | ||
Date of maturity | 2025 years | |
Current | 3,408 | |
Non-current | 5,656 | |
Adexus S.A. (Note 36) [Member] | Bottom of range [member] | ||
Borrowings (Details) - Schedule of lease liability for right-of-use asset [Line Items] | ||
Interest rate | 0.25% | |
Adexus S.A. (Note 36) [Member] | Top of range [member] | ||
Borrowings (Details) - Schedule of lease liability for right-of-use asset [Line Items] | ||
Interest rate | 0.50% | |
Other minors [Member] | ||
Borrowings (Details) - Schedule of lease liability for right-of-use asset [Line Items] | ||
Interest rate | 4.50% | |
Date of maturity | 2022 years | |
Current | S/ 18 | |
Non-current |
Borrowings (Details) - Schedu_7
Borrowings (Details) - Schedule of minimum payment by maturity and the present value of the lease liability for right-of-use asset obligations - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Borrowings (Details) - Schedule of minimum payment by maturity and the present value of the lease liability for right-of-use asset obligations [Line Items] | ||
Total | S/ 73,191 | S/ 87,698 |
Future financial charges | (12,684) | (14,972) |
Present value of the lease liability for right-of-use asset obligations | 60,507 | 72,726 |
Up To 1 Year [Member] | ||
Borrowings (Details) - Schedule of minimum payment by maturity and the present value of the lease liability for right-of-use asset obligations [Line Items] | ||
Total | 18,817 | 24,714 |
Present value of the lease liability for right-of-use asset obligations | 14,541 | 19,950 |
From 1 to 5 Years [Member] | ||
Borrowings (Details) - Schedule of minimum payment by maturity and the present value of the lease liability for right-of-use asset obligations [Line Items] | ||
Total | 46,288 | 51,853 |
Present value of the lease liability for right-of-use asset obligations | 38,136 | 42,641 |
Over five years [Member] | ||
Borrowings (Details) - Schedule of minimum payment by maturity and the present value of the lease liability for right-of-use asset obligations [Line Items] | ||
Total | S/ 8,086 | S/ 11,131 |
Borrowings (Details) - Schedu_8
Borrowings (Details) - Schedule of present value of lease liability for right-of-use asset - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Borrowings (Details) - Schedule of present value of lease liability for right-of-use asset [Line Items] | ||
Lease liability for right-of-use asset | S/ 60,507 | S/ 72,726 |
Up to 1 Year [Member] | ||
Borrowings (Details) - Schedule of present value of lease liability for right-of-use asset [Line Items] | ||
Lease liability for right-of-use asset | 14,541 | 19,950 |
From 1 Year to 5 Years [Member] | ||
Borrowings (Details) - Schedule of present value of lease liability for right-of-use asset [Line Items] | ||
Lease liability for right-of-use asset | 38,136 | 42,641 |
Over 5 Years [Member] | ||
Borrowings (Details) - Schedule of present value of lease liability for right-of-use asset [Line Items] | ||
Lease liability for right-of-use asset | S/ 7,830 | S/ 10,135 |
Borrowings (Details) - Schedu_9
Borrowings (Details) - Schedule of carrying amount and fair value of borrowings - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Borrowings (Details) - Schedule of carrying amount and fair value of borrowings [Line Items] | ||
Carrying amount | S/ 579,900 | S/ 898,320 |
Fair value | 614,188 | 980,716 |
Bank loans [Member] | ||
Borrowings (Details) - Schedule of carrying amount and fair value of borrowings [Line Items] | ||
Carrying amount | 343,679 | 571,659 |
Fair value | 372,270 | 589,737 |
Finance leases [Member] | ||
Borrowings (Details) - Schedule of carrying amount and fair value of borrowings [Line Items] | ||
Carrying amount | 9,836 | 52,391 |
Fair value | 9,097 | 54,343 |
Lease liability for right-of-use asset [Member] | ||
Borrowings (Details) - Schedule of carrying amount and fair value of borrowings [Line Items] | ||
Carrying amount | 60,507 | 72,726 |
Fair value | 66,943 | 88,779 |
Other financial entities [Member] | ||
Borrowings (Details) - Schedule of carrying amount and fair value of borrowings [Line Items] | ||
Carrying amount | 165,878 | 201,544 |
Fair value | S/ 165,878 | S/ 247,857 |
Bonds (Details)
Bonds (Details) S/ in Thousands, S/ / shares in Millions | Aug. 13, 2021USD ($)shares | Feb. 28, 2015PEN (S/) | Mar. 31, 2020PEN (S/) | Mar. 31, 2020USD ($) | Dec. 31, 2021PEN (S/)S/ / sharesshares | Dec. 31, 2021USD ($)shares | Dec. 31, 2020PEN (S/) | Dec. 31, 2019PEN (S/) | Dec. 31, 2016PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Jan. 01, 2020USD ($) | May 29, 2018 |
Bonds (Details) [Line Items] | |||||||||||||
Issue of corporate bonds | S/ 357,424 | ||||||||||||
Interest rate | 48.80% | 10.00% | 48.80% | 10.00% | 48.80% | ||||||||
Total amount (in Dollars) | $ | $ 89,900,000 | ||||||||||||
Bonds issued (in Shares) | shares | 89,970 | 11,000 | 11,000 | ||||||||||
Nominal value (in Dollars) | $ | $ 1,000 | ||||||||||||
Bearing interest rate | 8.00% | ||||||||||||
Conversion price description | US$0. 33 (Zero and 33/100 Dollars) per Share, and (ii) 80% of the average price of the transactions occurring thirty (30) days prior to the Conversion Date, weighted by the volume of each transaction. | US$0. 33 (Zero and 33/100 Dollars) per Share, and (ii) 80% of the average price of the transactions occurring thirty (30) days prior to the Conversion Date, weighted by the volume of each transaction. | |||||||||||
Principal balance (in Dollars) | $ | $ 89,900,000 | ||||||||||||
Principal equivalent per share (in Nuevos Soles per share) | S/ / shares | S/ 359.7 | ||||||||||||
Net of costs | S/ 356,000 | ||||||||||||
Accrued interest payable | 1,000 | S/ 2,200 | $ 300,000 | $ 600,000 | |||||||||
Level 3 of fair value hierarchy [member] | |||||||||||||
Bonds (Details) [Line Items] | |||||||||||||
Fair value of bonds | S/ 27,100 | S/ 28,600 | |||||||||||
Discounted cash flows rates | 7.40% | 7.40% | 7.10% | ||||||||||
Tren Urbano de Lima S.A. [Member] | |||||||||||||
Bonds (Details) [Line Items] | |||||||||||||
Issue of corporate bonds | S/ 629,000 | ||||||||||||
Maturity period of bonds | 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. | ||||||||||||
Interest rate | 4.75% | ||||||||||||
Bonds amortized | S/ 106,900 | S/ 90,600 | |||||||||||
Accrued interest and VAC adjustments payable | 121,100 | 103,400 | |||||||||||
Tren Urbano de Lima S.A. [Member] | Level 3 of fair value hierarchy [member] | |||||||||||||
Bonds (Details) [Line Items] | |||||||||||||
Fair value of bonds | S/ 626,800 | S/ 710,000 | |||||||||||
Discounted cash flows rates | 4.90% | 4.90% | 3.60% | ||||||||||
Red Vial 5 S.A. [Member] | |||||||||||||
Bonds (Details) [Line Items] | |||||||||||||
Issue of corporate bonds | S/ 365,000 | ||||||||||||
Red Vial 5 S.A. [Member] | Level 2 of fair value hierarchy [member] | |||||||||||||
Bonds (Details) [Line Items] | |||||||||||||
Fair value of bonds | S/ 260,000 | S/ 304,700 | |||||||||||
Discounted cash flows rates | 8.10% | 8.10% | 8.10% | ||||||||||
AENZA S.A.A. [Member] | Level 3 of fair value hierarchy [member] | |||||||||||||
Bonds (Details) [Line Items] | |||||||||||||
Fair value of bonds | S/ 361,100 | ||||||||||||
Discounted cash flows rates | 8.10% | 8.10% | |||||||||||
Cumbra Peru S.A. [Member] | |||||||||||||
Bonds (Details) [Line Items] | |||||||||||||
Issue of corporate bonds | S/ 25,900 | $ 7,800,000 | |||||||||||
Maturity period of bonds | 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-, granted by the rating company Moody’s Peru. | 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-, granted by the rating company Moody’s Peru. | |||||||||||
Interest rate | 8.50% | 8.50% | |||||||||||
Maximum amount of bond can be borrowed (in Dollars) | $ | $ 8,000,000 |
Bonds (Details) - Schedule of b
Bonds (Details) - Schedule of bonds issued summary - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Bonds (Details) - Schedule of bonds issued summary [Line Items] | ||
Total | $ 1,260,922 | $ 932,759 |
Current | 69,838 | 58,446 |
Non-current | 1,191,084 | 874,313 |
Tren Urbano de Lima S.A. [Member] | ||
Bonds (Details) - Schedule of bonds issued summary [Line Items] | ||
Total | 626,697 | 624,454 |
Current | 24,496 | 21,081 |
Non-current | 602,201 | 603,373 |
Red Vial 5 S.A. [Member] | ||
Bonds (Details) - Schedule of bonds issued summary [Line Items] | ||
Total | 251,933 | 280,848 |
Current | 36,637 | 32,819 |
Non-current | 215,296 | 248,029 |
AENZA S.A.A. [Member] | ||
Bonds (Details) - Schedule of bonds issued summary [Line Items] | ||
Total | 356,010 | |
Current | 3,809 | |
Non-current | 352,201 | |
Cumbra Peru S.A. [Member] | ||
Bonds (Details) - Schedule of bonds issued summary [Line Items] | ||
Total | 26,282 | 27,457 |
Current | 4,896 | 4,546 |
Non-current | $ 21,386 | $ 22,911 |
Bonds (Details) - Schedule of_2
Bonds (Details) - Schedule of bonds - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Tren Urbano de Lima S.A. [Member] | |||
Bonds (Details) - Schedule of bonds [Line Items] | |||
Balance at January, 1 | $ 624,454 | $ 618,497 | $ 611,660 |
Amortization | (16,376) | (11,582) | (11,330) |
Accrued interest | 49,013 | 47,615 | 48,253 |
Interest paid | (30,394) | (30,076) | (30,086) |
Balance at December, 31 | 626,697 | 624,454 | 618,497 |
Red Vial 5 S.A. [Member] | |||
Bonds (Details) - Schedule of bonds [Line Items] | |||
Balance at January, 1 | 280,848 | 305,545 | 325,382 |
Amortization | (28,836) | (24,820) | (20,005) |
Accrued interest | 22,315 | 24,619 | 23,482 |
Capitalized interest | 2,725 | ||
Interest paid | (22,394) | (24,496) | (26,039) |
Balance at December, 31 | 251,933 | 280,848 | 305,545 |
AENZA S.A.A. [Member] | |||
Bonds (Details) - Schedule of bonds [Line Items] | |||
Balance at January, 1 | 27,457 | ||
Additions | 25,871 | ||
Amortization | (3,687) | (1,579) | |
Exchange difference | 2,561 | 2,153 | |
Accrued interest | 2,219 | 2,152 | |
Interest paid | (2,268) | (1,140) | |
Balance at December, 31 | $ 26,282 | $ 27,457 |
Trade Accounts Payable (Details
Trade Accounts Payable (Details) - Schedule of trade accounts payables - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Trade Accounts Payable (Details) - Schedule of trade accounts payables [Line Items] | ||
Invoices payable (a) | S/ 506,798 | S/ 454,174 |
Provision of contract costs (b) | 468,360 | 642,492 |
Notes payable | 5,609 | 8,252 |
Trade accounts payable | 980,767 | 1,104,918 |
Current [member] | ||
Trade Accounts Payable (Details) - Schedule of trade accounts payables [Line Items] | ||
Invoices payable (a) | 506,798 | 454,174 |
Provision of contract costs (b) | 468,360 | 601,990 |
Notes payable | 5,609 | 8,252 |
Trade accounts payable | 980,767 | 1,064,416 |
Non-current [Member] | ||
Trade Accounts Payable (Details) - Schedule of trade accounts payables [Line Items] | ||
Invoices payable (a) | ||
Provision of contract costs (b) | 40,502 | |
Notes payable | ||
Trade accounts payable | S/ 40,502 |
Trade Accounts Payable (Detai_2
Trade Accounts Payable (Details) - Schedule of invoices payable - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Infrastructure | ||
Invoices payable | S/ 506,798 | S/ 454,174 |
Infrastructure [Member] | ||
Infrastructure | ||
Invoices payable | 32,988 | 39,186 |
Energy [Member] | ||
Infrastructure | ||
Invoices payable | 43,501 | 33,085 |
Engineering And Construction [Member] | ||
Infrastructure | ||
Invoices payable | 397,646 | 315,775 |
Real Estate [Member] | ||
Infrastructure | ||
Invoices payable | 9,769 | 18,056 |
Parent Company Operation [Member] | ||
Infrastructure | ||
Invoices payable | 22,894 | 48,072 |
Linea 1 - Metro de Lima [Member] | Infrastructure [Member] | ||
Infrastructure | ||
Invoices payable | 15,616 | 18,992 |
Operation and maintenance - Roads [Member] | Infrastructure [Member] | ||
Infrastructure | ||
Invoices payable | 17,372 | 20,194 |
Cumbra Peru S.A. - Talara Refinery [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Invoices payable | 109,930 | 96,051 |
Vial y Vives - DSD S.A. - Engineering and Construction Works [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Invoices payable | 73,188 | 70,987 |
Cumbra Peru S.A. - Concentrator Plant and tunnel of Quellaveco [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Invoices payable | 71,324 | 55,107 |
Cumbra Peru S.A. - Jorge Chavez Airport [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Invoices payable | 55,596 | 1,397 |
Morelco S.A.S. - Engineering and Construction Works [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Invoices payable | 22,629 | 17,616 |
Cumbra Peru S.A. - Gasoducto Piura Project [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Invoices payable | 11,167 | 172 |
Cumbra Peru S.A. - Generating Plant Machu Picchu [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Invoices payable | 3,832 | 3,488 |
Cumbra Ingenieria S.A. - Mina Gold Fields La Cima S.A. Project [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Invoices payable | 3,810 | 10,353 |
Cumbra Peru S.A. - Desilting of the Chicama River [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Invoices payable | 2,974 | 4,257 |
Cumbra Peru S.A. - Cerro del Águila Hydroelectric Power Plant [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Invoices payable | 2,199 | 822 |
Cumbra Peru S.A. - Civil Works, Assembly and Electromechanics - Acero Arequipa [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Invoices payable | 28 | 2,428 |
Cumbra Ingenieria S.A. - Mina Justa Project [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Invoices payable | 14 | 14,190 |
Others [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Invoices payable | S/ 40,955 | S/ 38,907 |
Trade Accounts Payable (Detai_3
Trade Accounts Payable (Details) - Schedule of provisions for contract costs correspond to measurement by the projects - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Infrastructure | ||
Provision of contract costs | S/ 468,360 | S/ 642,492 |
Infrastructure [Member] | ||
Infrastructure | ||
Provision of contract costs | 42,324 | 44,672 |
Energy [Member] | ||
Infrastructure | ||
Provision of contract costs | 24,185 | 18,140 |
Engineering And Construction [Member] | ||
Infrastructure | ||
Provision of contract costs | 365,220 | 508,137 |
Real Estate [Member] | ||
Infrastructure | ||
Provision of contract costs | 20,632 | 24,509 |
Parent Company Operation [Member] | ||
Infrastructure | ||
Provision of contract costs | 15,999 | 47,034 |
Linea 1 - Metro de Lima [Member] | Infrastructure [Member] | ||
Infrastructure | ||
Provision of contract costs | 15,021 | 13,645 |
Operation and maintenance - Roads [Member] | Infrastructure [Member] | ||
Infrastructure | ||
Provision of contract costs | 27,303 | 31,027 |
Cumbra Peru S.A. - Concentrator Plant and tunnel of Quellaveco [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Provision of contract costs | 86,562 | 42,822 |
Vial y Vives - DSD S.A. - Engineering and Construction Works [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Provision of contract costs | 74,912 | 106,186 |
Cumbra Peru S.A. - Talara Refinery [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Provision of contract costs | 54,513 | 204,102 |
Cumbra Peru S.A. - Gasoducto Piura Project [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Provision of contract costs | 43,401 | 599 |
Morelco S.A.S. - Engineering and Construction Works [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Provision of contract costs | 25,434 | 84,513 |
Cumbra Peru S.A. - Jorge Chavez Airport [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Provision of contract costs | 25,093 | 1,083 |
Cumbra Ingenieria S.A. - Mina Gold Fields La Cima S.A. Project [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Provision of contract costs | 9,135 | 12,670 |
Cumbra Peru S.A. - Project Via Expresa Linea Amarilla [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Provision of contract costs | 6,545 | 5,359 |
Cumbra Peru S.A. - Generating Plant Machu Picchu [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Provision of contract costs | 2,348 | 1,222 |
Cumbra Peru S.A. - Civil Works, Assembly and Electromechanics - Acero Arequipa [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Provision of contract costs | 1,556 | 5,222 |
Cumbra Ingenieria S.A. - Improvement and expansion - INEN [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Provision of contract costs | 1,465 | 2,036 |
Cumbra Peru S.A. - Works and Consortiums [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Provision of contract costs | 804 | 1,951 |
Cumbra Ingenieria S.A. - Mina Justa Project [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Provision of contract costs | 98 | 33,525 |
Others [Member] | Engineering And Construction [Member] | ||
Infrastructure | ||
Provision of contract costs | S/ 33,354 | S/ 6,847 |
Other Accounts Payable (Details
Other Accounts Payable (Details) S/ in Thousands, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2021PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2019PEN (S/) | Dec. 31, 2021USD ($) | Dec. 23, 2014 | |
Other Accounts Payable (Details) [Line Items] | ||||||
Other accounts payable | S/ | S/ 72,991 | S/ (58,011) | S/ (292,184) | |||
Capital stock percentage | 70.00% | |||||
New acquisition agreement amount | $ | $ 15.4 | |||||
Option agreement amount | $ | $ 32.7 | |||||
Financial instruments amount | 70,300 | $ 17.3 | ||||
subsidiary Cumbra Peru S.A. [Member] | ||||||
Other Accounts Payable (Details) [Line Items] | ||||||
Other accounts payable | S/ | S/ 77,600 | S/ 88,200 |
Other Accounts Payable (Detai_2
Other Accounts Payable (Details) - Schedule of Other Accounts Payable - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Accounts Payable (Details) - Schedule of Other Accounts Payable [Line Items] | |||
Total | S/ 847,350 | S/ 889,948 | |
Current | 754,981 | 706,716 | |
Non-current | 92,369 | 183,232 | |
Advances received from customers [Member] | |||
Other Accounts Payable (Details) - Schedule of Other Accounts Payable [Line Items] | |||
Total | [1] | 322,680 | 280,970 |
Current | [1] | 315,644 | 249,870 |
Non-current | [1] | 7,036 | 31,100 |
Consorcio Ductos del Sur - payable [Member] | |||
Other Accounts Payable (Details) - Schedule of Other Accounts Payable [Line Items] | |||
Total | [2] | 77,665 | 88,206 |
Current | [2] | 29,242 | 28,836 |
Non-current | [2] | 48,423 | 59,370 |
Salaries and other payable [Member] | |||
Other Accounts Payable (Details) - Schedule of Other Accounts Payable [Line Items] | |||
Total | 126,466 | 77,386 | |
Current | 126,466 | 77,386 | |
Non-current | |||
Put option liability on Morelco acquisition [Member] | |||
Other Accounts Payable (Details) - Schedule of Other Accounts Payable [Line Items] | |||
Total | [3] | 27,986 | 118,622 |
Current | [3] | 27,986 | 79,096 |
Non-current | [3] | 39,526 | |
Third-party loans [Member] | |||
Other Accounts Payable (Details) - Schedule of Other Accounts Payable [Line Items] | |||
Total | 2,076 | 11,608 | |
Current | 9,533 | ||
Non-current | 2,076 | 2,075 | |
Other taxes payable [Member] | |||
Other Accounts Payable (Details) - Schedule of Other Accounts Payable [Line Items] | |||
Total | 124,497 | 115,862 | |
Current | 112,737 | 102,240 | |
Non-current | 11,760 | 13,622 | |
Acquisition of additional non-controlling interest [Member] | |||
Other Accounts Payable (Details) - Schedule of Other Accounts Payable [Line Items] | |||
Total | 25,253 | 27,596 | |
Current | 25,253 | 27,596 | |
Non-current | |||
Guarantee deposits [Member] | |||
Other Accounts Payable (Details) - Schedule of Other Accounts Payable [Line Items] | |||
Total | 26,017 | 23,744 | |
Current | 26,017 | 23,744 | |
Non-current | |||
Consorcio Rio Mantaro - payables [Member] | |||
Other Accounts Payable (Details) - Schedule of Other Accounts Payable [Line Items] | |||
Total | 58,502 | 75,059 | |
Current | 58,502 | 75,059 | |
Non-current | |||
Provision of interest for debt with suppliers [Member] | |||
Other Accounts Payable (Details) - Schedule of Other Accounts Payable [Line Items] | |||
Total | 3,056 | 16,425 | |
Current | 285 | ||
Non-current | 2,771 | 16,425 | |
Share purchase agreement - Inversiones Sur [Member] | |||
Other Accounts Payable (Details) - Schedule of Other Accounts Payable [Line Items] | |||
Total | 15,992 | 14,496 | |
Current | |||
Non-current | 15,992 | 14,496 | |
Other accounts payables [Member] | |||
Other Accounts Payable (Details) - Schedule of Other Accounts Payable [Line Items] | |||
Total | 37,160 | 39,974 | |
Current | 32,849 | 33,356 | |
Non-current | S/ 4,311 | S/ 6,618 | |
[1] | Advances received from customers relate mainly to construction projects, and are discounted from invoicing, in accordance with the terms of the contracts. | ||
[2] | The balance of other accounts payable from Consorcio Constructor Ductos del Sur corresponds to payment obligations to vendors and main subcontractors for S/77.6 million (S/88.2 million as of December 31, 2020), assumed by the subsidiary Cumbra Peru S.A. as a result of the termination of Gasoducto Sur Peruano S.A. operations. | ||
[3] | On December 23, 2014, the Company acquired through the subsidiary Cumbra Peru S.A. control of Morelco S.A.S. (Morelco), with the purchase of 70.00% of its shares representative of the capital stock. Morelco, an entity domiciled in Colombia, also entered into a put and call option agreement in connection with the common shares retained by the non-controlling interest that grants the sellers the right to sell their retained shares to Cumbra Peru S.A. (put option). The signed put option agreement represented an obligation to purchase shares of the non-controlling interest and, therefore, the Corporation recognized a "financial liability" at fair value with a corresponding reduction in shareholders' equity decreasing other reserves. |
Other Accounts Payable (Detai_3
Other Accounts Payable (Details) - Schedule of advances received from customers relate mainly to construction projects - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Other Accounts Payable (Details) - Schedule of advances received from customers relate mainly to construction projects [Line Items] | ||
Total | S/ 322,680 | S/ 280,970 |
Current | 315,644 | 249,870 |
Non-current | 7,036 | 31,100 |
Customer advances from Consortiums [Member] | ||
Other Accounts Payable (Details) - Schedule of advances received from customers relate mainly to construction projects [Line Items] | ||
Total | 27,568 | 55,020 |
Current | 27,568 | 55,020 |
Non-current | ||
Customer advances for real estate projects [Member] | ||
Other Accounts Payable (Details) - Schedule of advances received from customers relate mainly to construction projects [Line Items] | ||
Total | 80,188 | 78,286 |
Current | 80,188 | 78,286 |
Non-current | ||
Cumbra Peru S.A. - Concentrator Plant and tunnel of Quellaveco [Member] | ||
Other Accounts Payable (Details) - Schedule of advances received from customers relate mainly to construction projects [Line Items] | ||
Total | 10,841 | 86,415 |
Current | 10,841 | 71,571 |
Non-current | 14,844 | |
Special National Transportation Infrastructure Project [Member] | ||
Other Accounts Payable (Details) - Schedule of advances received from customers relate mainly to construction projects [Line Items] | ||
Total | 19,582 | 24,050 |
Current | 12,765 | 13,781 |
Non-current | 6,817 | 10,269 |
Vial y Vives - DSD S.A. - Quebrada Blanca Project [Member] | ||
Other Accounts Payable (Details) - Schedule of advances received from customers relate mainly to construction projects [Line Items] | ||
Total | 120,642 | |
Current | 120,642 | |
Non-current | ||
Vial y Vives - DSD S.A. - Modernization and expansion of Arauco Plant [Member] | ||
Other Accounts Payable (Details) - Schedule of advances received from customers relate mainly to construction projects [Line Items] | ||
Total | 52,063 | |
Current | 52,063 | |
Non-current | ||
Cumbra Peru S.A. - Piura Pipeline Project [Member] | ||
Other Accounts Payable (Details) - Schedule of advances received from customers relate mainly to construction projects [Line Items] | ||
Total | 5,745 | 31,048 |
Current | 5,745 | 25,292 |
Non-current | 5,756 | |
Others [Member] | ||
Other Accounts Payable (Details) - Schedule of advances received from customers relate mainly to construction projects [Line Items] | ||
Total | 6,051 | 6,151 |
Current | 5,832 | 5,920 |
Non-current | S/ 219 | S/ 231 |
Other Provisions (Details)
Other Provisions (Details) S/ in Thousands, $ in Millions | Oct. 01, 2021PEN (S/) | Oct. 01, 2021USD ($) | Jul. 02, 2020 | Jun. 30, 2021PEN (S/) | Jun. 30, 2021USD ($) | Dec. 31, 2021PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) |
Other Provisions (Details) [Line Items] | |||||||||
Civil compensation | S/ 321,900 | $ 41.1 | |||||||
Total equivalent provision | 1,657 | ||||||||
Unused provision reversed | 52,600 | ||||||||
Estimated of provision | 4,800 | S/ 24,500 | |||||||
Plaintiffs' attorneys, description | the Company signed the settlement agreement with the plaintiffs’ attorneys, by which the parties agree to terminate the class action, subject to the court approval and the payment of the transaction amount by the Company. The amount agreed for the termination of the class action is equivalent to US$20 million. The Company registered a provision of US$15 million (equivalent of S/49.8 million), the difference of US$5 million was covered by the professional liability insurance policy in accordance with the agreement signed with the insurance company. In september 2020 , the Company paid US$0.3 million (equivalent to S/1.1 million). | ||||||||
Payment amount | S/ 22,700 | $ 5.5 | S/ 2,200 | $ 0.6 | |||||
Annual interest rate | 9.00% | 9.00% | 8.00% | 8.00% | |||||
New expiration date | Jun. 30, 2022 | Jun. 30, 2022 | |||||||
Accrued interest paid | S/ 3,600 | $ 0.9 | |||||||
Maintains a provision | 34,400 | $ 8.6 | 53,100 | $ 14.7 | |||||
Other legal provisions | S/ 34,200 | S/ 32,100 | |||||||
Provision for closure corresponds, description | Provision for closure corresponds mainly to: i)Provisions for closure of wells of Unna Energia S.A. for S/71.1 million and contractual compliance with Petroperu for S/3.4 million (as of December 31, 2020, S/48.4 million and S/3.2 million, respectively); ii)In Red Vial 5 S.A. provision for costs associated with the closing of the concession contract and the process of claiming the tariff guarantee for toll suspension for S/5.1 million (as of December 31, 2020, S/4.5 million); and iii)Provisions for net liabilities assumed from the partner in the Consorcio Chicama Ascope and other minor liabilities for S/2.8 million in Cumbra Peru S.A. | Provision for closure corresponds mainly to: i)Provisions for closure of wells of Unna Energia S.A. for S/71.1 million and contractual compliance with Petroperu for S/3.4 million (as of December 31, 2020, S/48.4 million and S/3.2 million, respectively); ii)In Red Vial 5 S.A. provision for costs associated with the closing of the concession contract and the process of claiming the tariff guarantee for toll suspension for S/5.1 million (as of December 31, 2020, S/4.5 million); and iii)Provisions for net liabilities assumed from the partner in the Consorcio Chicama Ascope and other minor liabilities for S/2.8 million in Cumbra Peru S.A. | |||||||
Civil compensation to Peruvian Government [Member] | |||||||||
Other Provisions (Details) [Line Items] | |||||||||
total provision | S/ 164,600 | $ 18.9 | |||||||
Total equivalent provision | S/ 240,100 |
Other Provisions (Details) - Sc
Other Provisions (Details) - Schedule of other provisions - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Provisions (Details) - Schedule of other provisions [Line Items] | |||
Provisions | S/ 484,326 | S/ 387,993 | |
Provisions, current | 154,829 | 92,757 | |
Provisions, not current | 329,497 | 295,236 | |
Legal claims [Member] | |||
Other Provisions (Details) - Schedule of other provisions [Line Items] | |||
Provisions | [1] | 364,385 | 326,868 |
Provisions, current | [1] | 117,520 | 78,627 |
Provisions, not current | [1] | 246,865 | 248,241 |
Tax claims [Member] | |||
Other Provisions (Details) - Schedule of other provisions [Line Items] | |||
Provisions | 37,466 | 8,176 | |
Provisions, current | 16,776 | 3,293 | |
Provisions, not current | 20,690 | 4,883 | |
Provision for well closure [Member] | |||
Other Provisions (Details) - Schedule of other provisions [Line Items] | |||
Provisions | [2] | 82,475 | 52,949 |
Provisions, current | [2] | 20,533 | 10,837 |
Provisions, not current | [2] | S/ 61,942 | S/ 42,112 |
[1] | Additions for legal claims correspond to: | ||
[2] | Provision for closure corresponds mainly to: |
Other Provisions (Details) - _2
Other Provisions (Details) - Schedule of account movement in other provisions - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Provisions (Details) - Schedule of account movement in other provisions [Line Items] | |||
Beginning balance | S/ 387,993 | S/ 282,495 | S/ 109,608 |
Ending balance | 484,326 | 387,993 | 282,495 |
Additions | 100,429 | 127,015 | 228,719 |
Present value | 29,407 | 5,786 | |
Reversals of provisions | (15,984) | (33,264) | (7,471) |
Transfers | 883 | 1,540 | |
Reclasification | |||
Compensation | (8,541) | 4,106 | (45,940) |
Desconsolidation of subsidiary | (1,657) | ||
Payments | (27,964) | (9,051) | (2,178) |
Translation adjustments / Exchange difference | 19,760 | 9,366 | (243) |
Legal claims [Member] | |||
Other Provisions (Details) - Schedule of account movement in other provisions [Line Items] | |||
Beginning balance | 326,868 | 221,592 | 81,052 |
Ending balance | 364,385 | 326,868 | 221,592 |
Additions | 59,109 | 121,404 | 190,610 |
Present value | 19,627 | 3,604 | |
Reversals of provisions | (13,027) | (30,806) | (3,122) |
Transfers | 466 | 1,540 | |
Reclasification | (3,335) | ||
Compensation | (8,541) | 4,106 | (45,940) |
Desconsolidation of subsidiary | (1,657) | ||
Payments | (26,863) | (3,938) | (914) |
Translation adjustments / Exchange difference | 11,738 | 9,366 | (94) |
Tax claims [Member] | |||
Other Provisions (Details) - Schedule of account movement in other provisions [Line Items] | |||
Beginning balance | 8,176 | 10,787 | 3,676 |
Ending balance | 37,466 | 8,176 | 10,787 |
Additions | 30,505 | 3,161 | 7,111 |
Present value | |||
Reversals of provisions | (2,458) | ||
Transfers | (299) | ||
Reclasification | |||
Compensation | |||
Desconsolidation of subsidiary | |||
Payments | (916) | (3,314) | |
Translation adjustments / Exchange difference | |||
Contingent liabilities resulting from acquisitions [Member] | |||
Other Provisions (Details) - Schedule of account movement in other provisions [Line Items] | |||
Beginning balance | 4,498 | ||
Ending balance | |||
Additions | |||
Present value | |||
Reversals of provisions | (4,349) | ||
Transfers | |||
Reclasification | |||
Compensation | |||
Desconsolidation of subsidiary | |||
Payments | |||
Translation adjustments / Exchange difference | (149) | ||
Provision for well closure [Member] | |||
Other Provisions (Details) - Schedule of account movement in other provisions [Line Items] | |||
Beginning balance | 52,949 | 50,116 | 20,382 |
Ending balance | 82,475 | 52,949 | 50,116 |
Additions | 10,815 | 2,450 | 30,998 |
Present value | 9,780 | 2,182 | |
Reversals of provisions | (2,957) | ||
Transfers | 716 | ||
Reclasification | 3,335 | ||
Compensation | |||
Desconsolidation of subsidiary | |||
Payments | (185) | (1,799) | (1,264) |
Translation adjustments / Exchange difference | S/ 8,022 |
Equity (Details)
Equity (Details) - PEN (S/) S/ / shares in Units, S/ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2013 |
Equity (Details) [Line Items] | ||||||||
Number of shares represents as capital (in Shares) | 871,917,855 | 871,917,855 | ||||||
Par value per share (in Nuevos Soles per share) | S/ 1 | S/ 1 | ||||||
Number of equity shares per American Depository Shares (in Nuevos Soles per share) | 5 | 5 | ||||||
Quoted share price (in Nuevos Soles per share) | S/ 1.37 | S/ 1.72 | ||||||
Trading frequency, percentage | 77.27% | 95.65% | ||||||
Annual profit, percentage | 10.00% | |||||||
Maximum allowed percentage to legal reserve to paid-in capital | 20.00% | |||||||
Voluntary reserve (in Nuevos Soles) | S/ 29,970 | S/ 29,970 | ||||||
Paid-in capital, percentage | 20.00% | |||||||
Excess of total income obtained by shares issued over nominal value (in Nuevos Soles) | S/ 138,100 | S/ 1,055,500 | ||||||
Dividend rate percentage | 5.00% | 6.80% | 6.80% | 4.10% | ||||
American depository shares [Member] | ||||||||
Equity (Details) [Line Items] | ||||||||
Number of shares (in Shares) | 136,637,740 | 190,863,050 | ||||||
Ordinary shares [member] | ||||||||
Equity (Details) [Line Items] | ||||||||
Number of shares (in Shares) | 27,327,548 | 38,172,610 |
Equity (Details) - Schedule of
Equity (Details) - Schedule of the company's shareholding structure | Dec. 31, 2021shares |
Condensed Financial Statements, Captions [Line Items] | |
Number of shareholders | 1,580 |
Total percentage of interest | 100.00% |
Up to 1.00 [Member] | |
Condensed Financial Statements, Captions [Line Items] | |
Number of shareholders | 1,561 |
Total percentage of interest | 7.32% |
From 1.01 to 5.00 [Member] | |
Condensed Financial Statements, Captions [Line Items] | |
Number of shareholders | 12 |
Total percentage of interest | 25.42% |
From 5.01 to 10.00 [Member] | |
Condensed Financial Statements, Captions [Line Items] | |
Number of shareholders | 5 |
Total percentage of interest | 39.29% |
Over 10 [Member] | |
Condensed Financial Statements, Captions [Line Items] | |
Number of shareholders | 2 |
Total percentage of interest | 27.97% |
Deferred Income Tax (Details)
Deferred Income Tax (Details) S/ in Millions | 12 Months Ended |
Dec. 31, 2021PEN (S/) | |
Description of accounting policy for deferred income tax [text block] [Abstract] | |
Tax losses | S/ 639 |
Total loss of net rent | 50.00% |
Deferred Income Tax (Details) -
Deferred Income Tax (Details) - Schedule of deferred income tax - PEN (S/) S/ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred Income Tax (Details) - Schedule of deferred income tax [Line Items] | ||
Deferred income tax asset | S/ 275,076 | S/ 262,165 |
Deferred income tax liability | (97,367) | (102,907) |
Deferred income tax asset, net | 177,709 | 159,258 |
Up to 1 year [Member] | ||
Deferred Income Tax (Details) - Schedule of deferred income tax [Line Items] | ||
Deferred income tax asset | 44,037 | 44,780 |
Deferred income tax liability | 1,424 | (1,261) |
Later than one year [Member] | ||
Deferred Income Tax (Details) - Schedule of deferred income tax [Line Items] | ||
Deferred income tax asset | 231,039 | 217,385 |
Deferred income tax liability | S/ (98,791) | S/ (101,646) |
Deferred Income Tax (Details)_2
Deferred Income Tax (Details) - Schedule of movement of the deferred income tax - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of movement of the deferred income tax [Abstract] | |||
Opening balance | S/ 159,258 | S/ 158,985 | S/ 365,263 |
Debit (credit) to income statement (Note 29) | 64,021 | (9,652) | (206,894) |
Discontinued operations | (40,686) | 9,886 | 14,469 |
Other movements | (4,884) | 39 | (13,853) |
Final balance | S/ 177,709 | S/ 159,258 | S/ 158,985 |
Deferred Income Tax (Details)_3
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Deferred income tax liabilities, Difference in depreciation rates [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | S/ 87,988 | S/ 91,490 | S/ 81,553 |
Ending balance | 73,484 | 87,988 | 91,490 |
(Debit) credit to P&L | (10,668) | (1,831) | 10,109 |
Sale of a subsidiary | (3,836) | ||
Discontinued operations | (2,734) | (172) | |
Reclassification | 1,063 | ||
Deferred income tax liabilities, Deferred income [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 15,906 | 24,145 | 13,574 |
Ending balance | 15,906 | 24,145 | |
(Debit) credit to P&L | (15,906) | (8,239) | 11,126 |
Sale of a subsidiary | |||
Discontinued operations | (555) | ||
Reclassification | |||
Deferred income tax liabilities, Work in process [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 17,203 | 38,859 | 5,456 |
Ending balance | 47,642 | 17,203 | 38,859 |
(Debit) credit to P&L | 30,439 | (16,740) | 33,403 |
Sale of a subsidiary | |||
Discontinued operations | |||
Reclassification | (4,916) | ||
Deferred income tax liabilities , Tax receviable [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 39,026 | 36,190 | 32,878 |
Ending balance | 42,054 | 39,026 | 36,190 |
(Debit) credit to P&L | 3,028 | 2,836 | 3,312 |
Sale of a subsidiary | |||
Discontinued operations | |||
Reclassification | |||
Deferred income tax liabilities, Borrowing costs capitalized [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 15,108 | 14,936 | 15,716 |
Ending balance | 12,328 | 15,108 | 14,936 |
(Debit) credit to P&L | (2,780) | 172 | (780) |
Sale of a subsidiary | |||
Discontinued operations | |||
Reclassification | |||
Deferred income tax liabilities, PPA [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 8,917 | 9,823 | (1,562) |
Ending balance | 21,393 | 8,917 | 9,823 |
(Debit) credit to P&L | 12,476 | 357 | 11,385 |
Sale of a subsidiary | |||
Discontinued operations | |||
Reclassification | (1,263) | ||
Deferred income tax liabilities, Others [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 23,396 | 39,566 | 20,745 |
Ending balance | 1,096 | 23,396 | 39,566 |
(Debit) credit to P&L | (21,417) | (18,381) | 18,821 |
Sale of a subsidiary | (883) | ||
Discontinued operations | (510) | ||
Reclassification | 2,721 | ||
Deferred income tax liabilities, Total [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 207,544 | 255,009 | 168,360 |
Ending balance | 197,997 | 207,544 | 255,009 |
(Debit) credit to P&L | (4,828) | (41,826) | 87,376 |
Sale of a subsidiary | (4,719) | ||
Discontinued operations | (3,244) | (727) | |
Reclassification | (2,395) | ||
Deferred income tax assets,Provisions [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 29,586 | 43,376 | 42,572 |
Ending balance | 40,846 | 29,586 | 43,376 |
Sale of a subsidiary | (2,413) | ||
Debit (credit) to P&L | 13,673 | (36,338) | 938 |
Debit (credit) to equity | |||
Discontinued operations | (1,792) | (134) | |
Reclassification | 24,340 | ||
IFRIC 23 adoption | |||
Others | |||
Deferred income tax assets, Accelerated tax depreciation [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 7,653 | 8,433 | 921 |
Ending balance | 16,293 | 7,653 | 8,433 |
Sale of a subsidiary | |||
Debit (credit) to P&L | 8,640 | 2,041 | 7,512 |
Debit (credit) to equity | |||
Discontinued operations | (1,667) | ||
Reclassification | (1,154) | ||
IFRIC 23 adoption | |||
Others | |||
Deferred income tax assets, Tax losses [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 186,495 | 191,646 | 178,289 |
Ending balance | 182,441 | 186,495 | 191,646 |
Sale of a subsidiary | (40,312) | ||
Debit (credit) to P&L | 36,258 | (8,767) | 3,024 |
Debit (credit) to equity | |||
Discontinued operations | 11,319 | ||
Reclassification | 3,616 | ||
IFRIC 23 adoption | (986) | ||
Others | |||
Deferred income tax assets, Work in process [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 4,792 | 45,720 | 34,005 |
Ending balance | 4,792 | 45,720 | |
Sale of a subsidiary | |||
Debit (credit) to P&L | (4,792) | (12,298) | 11,715 |
Debit (credit) to equity | |||
Discontinued operations | |||
Reclassification | (28,630) | ||
IFRIC 23 adoption | |||
Others | |||
Deferred income tax assets, Accrual for unpaid vacations [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 13,040 | 11,624 | 9,782 |
Ending balance | 19,441 | 13,040 | 11,624 |
Sale of a subsidiary | (887) | ||
Debit (credit) to P&L | 7,288 | 1,301 | 1,842 |
Debit (credit) to equity | |||
Discontinued operations | 115 | ||
Reclassification | |||
IFRIC 23 adoption | |||
Others | |||
Deferred income tax assets, Impairment [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 51,252 | 48,502 | 253,767 |
Ending balance | 29,418 | 51,252 | 48,502 |
Sale of a subsidiary | |||
Debit (credit) to P&L | (21,834) | 3,257 | (205,265) |
Debit (credit) to equity | |||
Discontinued operations | |||
Reclassification | (507) | ||
IFRIC 23 adoption | |||
Others | |||
Deferred income tax assets, Tax Goodwill [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 13,993 | 13,522 | 18,048 |
Ending balance | 11,586 | 13,993 | 13,522 |
Sale of a subsidiary | |||
Debit (credit) to P&L | (2,407) | (4,518) | (4,526) |
Debit (credit) to equity | |||
Discontinued operations | |||
Reclassification | 4,989 | ||
IFRIC 23 adoption | |||
Others | |||
Deferred income tax assets, Others [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 13,994 | 4,367 | (3,761) |
Ending balance | 7,081 | 13,994 | 4,367 |
Sale of a subsidiary | (1,793) | ||
Debit (credit) to P&L | (236) | 14,718 | 18,438 |
Debit (credit) to equity | (3) | ||
Discontinued operations | 9,986 | 2,557 | |
Reclassification | (15,116) | ||
IFRIC 23 adoption | |||
Others | (4,884) | 39 | (12,864) |
Deferred income tax Assets, Total [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 366,802 | 413,994 | 533,623 |
Ending balance | 375,706 | 366,802 | 413,994 |
Sale of a subsidiary | (45,405) | ||
Debit (credit) to P&L | 59,193 | (51,478) | (119,518) |
Debit (credit) to equity | (3) | ||
Discontinued operations | 6,642 | 13,742 | |
Reclassification | (2,395) | ||
IFRIC 23 adoption | (986) | ||
Others | (4,884) | 39 | (12,864) |
Deferred income tax assets, IFRS 9 [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Beginning balance | 45,997 | 46,804 | |
Ending balance | 51,593 | 45,997 | 46,804 |
Sale of a subsidiary | |||
Debit (credit) to P&L | 5,596 | (10,874) | 46,804 |
Debit (credit) to equity | |||
Discontinued operations | |||
Reclassification | 10,067 | ||
IFRIC 23 adoption | |||
Others | |||
Deferred income tax assets, Earning stripping rules [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Ending balance | 8,372 | ||
Sale of a subsidiary | |||
Debit (credit) to P&L | 8,372 | ||
Debit (credit) to equity | |||
Discontinued operations | |||
Reclassification | |||
IFRIC 23 adoption | |||
Others | |||
Deferred income tax assets, Unpaid Non domicilied expenses [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Ending balance | 4,064 | ||
Sale of a subsidiary | |||
Debit (credit) to P&L | 4,064 | ||
Debit (credit) to equity | |||
Discontinued operations | |||
Reclassification | |||
IFRIC 23 adoption | |||
Others | |||
Deferred income tax assets,IFRS 16 [Member] | |||
Deferred Income Tax (Details) - Schedule of movement in deferred tax assets and liabilities [Line Items] | |||
Ending balance | 4,571 | ||
Sale of a subsidiary | |||
Debit (credit) to P&L | 4,571 | ||
Debit (credit) to equity | |||
Discontinued operations | |||
Reclassification | |||
IFRIC 23 adoption | |||
Others |
Deferred Income Tax (Details)_4
Deferred Income Tax (Details) - Schedule of tax loss S/ in Thousands | Dec. 31, 2021PEN (S/) |
Deferred Income Tax (Details) - Schedule of tax loss [Line Items] | |
Tax loss | S/ 638,899 |
Application 2022 | 182,610 |
Application 2023 | 15,723 |
Statute of limitations | 440,566 |
Cumbra Peru S.A. [Member] | |
Deferred Income Tax (Details) - Schedule of tax loss [Line Items] | |
Tax loss | 342,268 |
Application 2022 | 14,000 |
Application 2023 | 14,771 |
Application forward | |
Statute of limitations | 313,497 |
Vial y Vives - DSD S.A. [Member] | |
Deferred Income Tax (Details) - Schedule of tax loss [Line Items] | |
Tax loss | 225,094 |
Application 2022 | 129,222 |
Application 2023 | |
Application forward | |
Statute of limitations | 95,872 |
AENZA S.A.A. [Member] | |
Deferred Income Tax (Details) - Schedule of tax loss [Line Items] | |
Tax loss | 32,092 |
Application 2022 | 32,092 |
Application 2023 | |
Application forward | 2,025 |
Statute of limitations | |
Transportadora de Gas Natural Comprimido Andino S.A.C. [Member] | |
Deferred Income Tax (Details) - Schedule of tax loss [Line Items] | |
Tax loss | 15,989 |
Application 2022 | 82 |
Application 2023 | 952 |
Application forward | |
Statute of limitations | 14,955 |
GyM Chile S.p.A. [Member] | |
Deferred Income Tax (Details) - Schedule of tax loss [Line Items] | |
Tax loss | 14,705 |
Application 2022 | |
Application 2023 | |
Application forward | |
Statute of limitations | 14,705 |
Carretera Andina del Sur S.A.C. [Member] | |
Deferred Income Tax (Details) - Schedule of tax loss [Line Items] | |
Tax loss | 3,704 |
Application 2022 | 3,704 |
Application 2023 | |
Application forward | |
Statute of limitations | |
Consorcio Vial del Sur [Member] | |
Deferred Income Tax (Details) - Schedule of tax loss [Line Items] | |
Tax loss | 3,508 |
Application 2022 | 3,508 |
Application 2023 | |
Application forward | 2,025 |
Statute of limitations | |
Incolur DSD [Member] | |
Deferred Income Tax (Details) - Schedule of tax loss [Line Items] | |
Tax loss | 1,537 |
Application 2022 | |
Application 2023 | |
Application forward | |
Statute of limitations | 1,537 |
Cumbra Ingeniería S.A. [Member] | |
Deferred Income Tax (Details) - Schedule of tax loss [Line Items] | |
Tax loss | 2 |
Application 2022 | 2 |
Application 2023 | |
Application forward | 2,025 |
Statute of limitations |
Workers' Profit Sharing (Detail
Workers' Profit Sharing (Details) - Schedule of the workers’ profit sharing in the income statement - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Workers' Profit Sharing (Details) - Schedule of the workers’ profit sharing in the income statement [Line Items] | |||
Workers profit sharing | S/ 8,888 | S/ 2,170 | S/ 6,340 |
Cost of sales of goods and services [Member] | |||
Workers' Profit Sharing (Details) - Schedule of the workers’ profit sharing in the income statement [Line Items] | |||
Workers profit sharing | 7,650 | 2,147 | 4,661 |
Administrative expenses [Member] | |||
Workers' Profit Sharing (Details) - Schedule of the workers’ profit sharing in the income statement [Line Items] | |||
Workers profit sharing | S/ 1,238 | S/ 23 | S/ 1,679 |
Costs and ExpensesBy Nature (De
Costs and ExpensesBy Nature (Details) - Schedule of costs and expenses by nature - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Costs and ExpensesBy Nature (Details) - Schedule of costs and expenses by nature [Line Items] | |||
Salaries, wages and fringe benefits (i) | S/ 1,395,034 | S/ 1,022,308 | S/ 1,068,881 |
Services provided by third-parties | 1,175,391 | 982,956 | 1,506,022 |
Purchase of goods | 705,043 | 565,052 | 855,743 |
Other management charges | 238,851 | 173,251 | 202,386 |
Depreciation (ii) | 87,488 | 86,125 | 97,352 |
Amortization (Note 17) | 105,220 | 97,273 | 105,278 |
Impairment of accounts receivable (iii) | 9,422 | 32,219 | 8,183 |
Taxes | 5,845 | 6,024 | 9,391 |
Recovery of property, plant and equipment | 4,950 | ||
Impairment of property, plant and equipment | 5,679 | 3,907 | |
Impairment of inventory | 2,984 | ||
Impairment of investments | 38 | 255 | |
Inventory recovery | (30) | (249) | |
Total | 3,730,957 | 2,970,166 | 3,857,149 |
Cost of goods and services [Member] | |||
Costs and ExpensesBy Nature (Details) - Schedule of costs and expenses by nature [Line Items] | |||
Salaries, wages and fringe benefits (i) | 1,297,352 | 946,631 | 951,455 |
Services provided by third-parties | 1,118,929 | 949,545 | 1,447,294 |
Purchase of goods | 705,000 | 565,052 | 855,743 |
Other management charges | 222,648 | 158,929 | 174,678 |
Depreciation (ii) | 82,063 | 79,732 | 95,445 |
Amortization (Note 17) | 101,578 | 93,135 | 99,589 |
Impairment of accounts receivable (iii) | 9,420 | 32,215 | 8,183 |
Taxes | 5,691 | 5,956 | 6,941 |
Recovery of property, plant and equipment | 4,950 | ||
Impairment of property, plant and equipment | 5,679 | 3,907 | |
Impairment of inventory | 2,984 | ||
Impairment of investments | 38 | 255 | |
Inventory recovery | (30) | (249) | |
Total | 3,551,344 | 2,836,153 | 3,643,241 |
Administrative expenses [Member] | |||
Costs and ExpensesBy Nature (Details) - Schedule of costs and expenses by nature [Line Items] | |||
Salaries, wages and fringe benefits (i) | 97,682 | 75,677 | 117,426 |
Services provided by third-parties | 56,462 | 33,411 | 58,728 |
Purchase of goods | 43 | ||
Other management charges | 16,203 | 14,322 | 27,708 |
Depreciation (ii) | 5,425 | 6,393 | 1,907 |
Amortization (Note 17) | 3,642 | 4,138 | 5,689 |
Impairment of accounts receivable (iii) | 2 | 4 | |
Taxes | 154 | 68 | 2,450 |
Total | S/ 179,613 | S/ 134,013 | S/ 213,908 |
Costs and ExpensesBy Nature (_2
Costs and ExpensesBy Nature (Details) - Schedule of salaries, wages and fringe benefits comprise - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of salaries, wages and fringe benefits comprise [Abstract] | |||
Salaries | S/ 1,068,013 | S/ 756,873 | S/ 786,346 |
Statutory gratification | 96,612 | 85,010 | 88,369 |
Social contributions | 75,395 | 57,225 | 61,533 |
Employee’s severance indemnities | 66,827 | 55,523 | 49,944 |
Vacations | 49,409 | 39,499 | 39,298 |
Workers’ profit sharing (Note 25) | 8,888 | 2,170 | 6,340 |
Others | 29,890 | 26,008 | 37,051 |
Total | S/ 1,395,034 | S/ 1,022,308 | S/ 1,068,881 |
Costs and ExpensesBy Nature (_3
Costs and ExpensesBy Nature (Details) - Schedule of depreciation comprises - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Costs and ExpensesBy Nature (Details) - Schedule of depreciation comprises [Line Items] | |||
Property, plant and equipment (Note 16.2) | S/ 64,840 | S/ 71,911 | S/ 72,038 |
Right-of-use assets (Note 16.3) | 18,332 | 11,801 | 22,958 |
Investment property (Note 16.1) | 4,316 | 2,413 | 2,356 |
Total | 87,488 | 86,125 | 97,352 |
Cost of goods and services [Member] | |||
Costs and ExpensesBy Nature (Details) - Schedule of depreciation comprises [Line Items] | |||
Property, plant and equipment (Note 16.2) | 60,230 | 66,479 | 70,368 |
Right-of-use assets (Note 16.3) | 17,517 | 10,840 | 22,721 |
Investment property (Note 16.1) | 4,316 | 2,413 | 2,356 |
Total | 82,063 | 79,732 | 95,445 |
Administrative expenses [Member] | |||
Costs and ExpensesBy Nature (Details) - Schedule of depreciation comprises [Line Items] | |||
Property, plant and equipment (Note 16.2) | 4,610 | 5,432 | 1,670 |
Right-of-use assets (Note 16.3) | 815 | 961 | 237 |
Total | S/ 5,425 | S/ 6,393 | S/ 1,907 |
Costs and ExpensesBy Nature (_4
Costs and ExpensesBy Nature (Details) - Schedule of impairment of accounts receivable - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of impairment of accounts receivable [Abstract] | |||
Trade accounts receivables (Note 10) | S/ 1,061 | S/ 19,772 | S/ 955 |
Other accounts receivable (Note 13.i) | 1,177 | 12,318 | 5,704 |
Accounts receivable from related parties | 7,184 | 129 | 1,524 |
Total | S/ 9,422 | S/ 32,219 | S/ 8,183 |
Financial Income and Expenses_2
Financial Income and Expenses (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of finance income (cost) [text block] [Abstract] | |
Loan description | (a)In 2019 the income corresponds to the proceeds from the sale of CPAO’s to Mizuho Bank Ltd. (Note 28 b) (b)In 2021, the variation in interest corresponds mainly to Inversiones en Autopistas S.A. which decreased by S/4.5 million due to the loan with BCI Peru (Nota 18-d) and AENZA S.A.A, which decreased by S/4.8 million due to the cancellation of the debt with CS Peru Infrastructure Holdings LLC (Note 18 a-iii); on the other hand, Cumbra Peru increased by S/5 million for various promissory notes. (c)In 2021, the increase is mainly generated by the effect of the present value of the account receivable from Gasoducto Sur Peruano S.A. for S/32.6 million (Note 12), due to the variation of the discount rate applied, which increased from 1.65% to 2.73%. Additionally, increase by the effect of the present value of the account payable according to the Acta de Acuerdo Preparatorio de Colaboración y Beneficios – “The Agreement” for S/17 million (Note 1-d). (d)In 2021, the increase corresponds entirely to Inversiones en Autopistas S.A. for the recognition of the fair value of the loan with BCI Peru (Note 18-d). |
Financial Income and Expenses_3
Financial Income and Expenses (Details) - Schedule of financial income S/ in Thousands, $ in Thousands | Dec. 31, 2021PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2020USD ($) | Dec. 31, 2019PEN (S/) | |
Financial income: | ||||||
Profit for present value of financial asset or financial liability | S/ 3,127 | S/ 32,734 | S/ 30,408 | |||
Interest on short-term bank deposits | 959 | 2,353 | 4,056 | |||
Interest on loans to third parties | 442 | 863 | 789 | |||
Interest on mutual funds | 287 | 537 | 116 | |||
Commissions and collaterals | 55 | 601 | 535 | |||
Sale of CPAO financial asset to Mizuho Bank Ltd. | [1] | 35,971 | ||||
Others | 903 | 2,228 | 2,781 | |||
Financial income total | S/ 5,773 | $ 512,947 | S/ 39,316 | $ 295,120 | S/ 74,656 | |
[1] | In 2019 the income corresponds to the proceeds from the sale of CPAO's to Mizuho Bank Ltd. (Note 28 b) |
Financial Income and Expenses_4
Financial Income and Expenses (Details) - Schedule of financial expenses - PEN (S/) S/ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Interest expense on: | ||||
- Bank loans | [1] | S/ 56,534 | S/ 63,435 | S/ 78,293 |
- Bonds | 36,830 | 26,771 | 26,113 | |
- Loans from third parties | 12,642 | 12,612 | 14,162 | |
- Right-of-use | 3,982 | 4,259 | 5,472 | |
- Financial lease | 862 | 1,187 | 2,042 | |
Commissions and collaterals | 24,263 | 28,083 | 25,492 | |
Interests from Tax Administration | 14,236 | 4,827 | 6,222 | |
Loss for present value of financial asset or financial liability | [2] | 53,757 | 4,552 | 41,131 |
Update of fair value of financial liability | [3] | 12,402 | ||
Exchange difference loss, net | 47,211 | 3,766 | 32,570 | |
Derivative financial instruments | 64 | 92 | ||
Other financial expenses | 1,099 | 1,686 | 7,349 | |
Less capitalized interest | (1,244) | (4,887) | (7,229) | |
Financial income expenses | S/ 262,574 | S/ 146,355 | S/ 231,709 | |
[1] | In 2021, the variation in interest corresponds mainly to Inversiones en Autopistas S.A. which decreased by S/4.5 million due to the loan with BCI Peru (Nota 18-d) and AENZA S.A.A, which decreased by S/4.8 million due to the cancellation of the debt with CS Peru Infrastructure Holdings LLC (Note 18 a-iii); on the other hand, Cumbra Peru increased by S/5 million for various promissory notes. | |||
[2] | In 2021, the increase is mainly generated by the effect of the present value of the account receivable from Gasoducto Sur Peruano S.A. for S/32.6 million (Note 12), due to the variation of the discount rate applied, which increased from 1.65% to 2.73%. Additionally, increase by the effect of the present value of the account payable according to the Acta de Acuerdo Preparatorio de Colaboración y Beneficios – “The Agreement” for S/17 million (Note 1-d). | |||
[3] | In 2021, the increase corresponds entirely to Inversiones en Autopistas S.A. for the recognition of the fair value of the loan with BCI Peru (Note 18-d). |
Other Income and Expenses, Ne_2
Other Income and Expenses, Net (Details) S/ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2021PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2019PEN (S/) | |
Other Income and Expenses, Net (Details) [Line Items] | ||||
Acquisition agreement amount (in Dollars) | $ | $ 15.4 | |||
Valuation amount | S/ 70.3 | |||
Company received percentage | 70.00% | 70.00% | ||
Description of other accounts receivable | the impairment of other accounts receivable of S/19.9 million, as a consequence of the financial obligation assumed by AENZA S.A.A. in favor of Adexus S.A.(Note 13-i). In 2020, corresponds to: i) impairment of other accounts receivable generated by the subsidiary Concesionaria Vía Expresa Sur S.A. for S/55.8 million, as a consequence of the new estimates of the Company on the recovery of the investment it maintains in the project; ii) impairment of other accounts receivable of CAM Holding S.p.A. for S/12.5 million for claims accepted against the guarantee account; iii) impairment of trade receivables generated by the subsidiary Unna Transporte S.A.C. for S/33.7 million to the Regional Government of Cusco iv) other minor for S/0.5 million of other receivables and S/0.5 million of trade receivables. In 2019, corresponds to a 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 impairment of other accounts receivable of S/19.9 million, as a consequence of the financial obligation assumed by AENZA S.A.A. in favor of Adexus S.A.(Note 13-i). In 2020, corresponds to: i) impairment of other accounts receivable generated by the subsidiary Concesionaria Vía Expresa Sur S.A. for S/55.8 million, as a consequence of the new estimates of the Company on the recovery of the investment it maintains in the project; ii) impairment of other accounts receivable of CAM Holding S.p.A. for S/12.5 million for claims accepted against the guarantee account; iii) impairment of trade receivables generated by the subsidiary Unna Transporte S.A.C. for S/33.7 million to the Regional Government of Cusco iv) other minor for S/0.5 million of other receivables and S/0.5 million of trade receivables. In 2019, corresponds to a 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 | ||
Subsidiary amount | S/ 7.7 | |||
Cumbra Peru S.A. [Member] | ||||
Other Income and Expenses, Net (Details) [Line Items] | ||||
Subsidiary amount | S/ 28.1 | |||
Unna Transporte S.A.C. [Member] | ||||
Other Income and Expenses, Net (Details) [Line Items] | ||||
Subsidiary amount | 2.4 | |||
Cumbra Ingenieria S.A. [Member] | ||||
Other Income and Expenses, Net (Details) [Line Items] | ||||
Subsidiary amount | 0.9 | |||
Cumbra Peru [Member] | ||||
Other Income and Expenses, Net (Details) [Line Items] | ||||
Subsidiary amount | S/ 24.5 | |||
AENZA S.A.A. [Member] | ||||
Other Income and Expenses, Net (Details) [Line Items] | ||||
Subsidiary amount | S/ 49.7 | |||
AENZA S.A.A. [Member] | ||||
Other Income and Expenses, Net (Details) [Line Items] | ||||
Subsidiary amount | 18.2 | |||
AENZA S.A.A. [Member] | Cumbra Peru S.A. [Member] | ||||
Other Income and Expenses, Net (Details) [Line Items] | ||||
Subsidiary amount | S/ 9.5 |
Other Income and Expenses, Ne_3
Other Income and Expenses, Net (Details) - Schedule of other income and expenses, net - PEN (S/) S/ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Other income: | ||||
Change in contract of the call option | [1] | S/ 70,322 | ||
Sale of assets | 9,618 | 9,118 | 12,748 | |
Recovery of provisions and impairments | 6,070 | 6,501 | 23,279 | |
Insurance compensation | 3,728 | 156 | ||
Penalty income | 1,883 | 1,168 | 984 | |
Supplier debt forgiveness | 14,545 | 19,026 | ||
Profit from Mizuho Bank Ltd. agreement | [2] | 89,688 | ||
Trademarks revaluation | 20,676 | |||
Others | 5,593 | 4,072 | 13,384 | |
Other income | 97,214 | 35,560 | 179,785 | |
Other expenditures: | ||||
Asset impairment | [3] | 20,285 | 103,074 | 329,670 |
Civil repair to the Peruvian Government | 86 | 64,571 | 69,150 | |
Legal and tax litigation | [4] | 59,184 | 32,186 | 49,754 |
Net cost of fixed assets disposal | 7,794 | 6,478 | 6,667 | |
Provision for well closure | 7,211 | 112 | 4,055 | |
Disposal of property, plant and equipment | 3,764 | 501 | 14,394 | |
Present value of the call option | 2,326 | 4,697 | ||
Administrative fine | 2,068 | 2,056 | 1,423 | |
Renegotiation of contract with suppliers | 176 | 4,889 | ||
Others | 1,123 | 549 | 26,729 | |
Other expenditures | 101,691 | 216,742 | 506,539 | |
Other expenses | S/ (4,477) | S/ (181,182) | S/ (326,754) | |
[1] | In 2021, the subsidiary Cumbra Peru S.A. renegotiated the payment for the purchase of shares from the minority of the subsidiary Morelco S.A.S., such renegotiation ended with the signing of a new acquisition agreement for an amount of US$15.4 million, disregarding the original put option agreement. Consequently, the Company recorded "other income - results from valuation of financial instruments" for an amount of S/70.3 million in the statement of income in 2021 (Note 21-c). | |||
[2] | 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. | |||
[3] | In 2021, corresponds mainly to the impairment of other accounts receivable of S/19.9 million, as a consequence of the financial obligation assumed by AENZA S.A.A. in favor of Adexus S.A.(Note 13-i). In 2020, corresponds to: i) impairment of other accounts receivable generated by the subsidiary Concesionaria Vía Expresa Sur S.A. for S/55.8 million, as a consequence of the new estimates of the Company on the recovery of the investment it maintains in the project; ii) impairment of other accounts receivable of CAM Holding S.p.A. for S/12.5 million for claims accepted against the guarantee account; iii) impairment of trade receivables generated by the subsidiary Unna Transporte S.A.C. for S/33.7 million to the Regional Government of Cusco iv) other minor for S/0.5 million of other receivables and S/0.5 million of trade receivables. In 2019, corresponds to a 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 | |||
[4] | In 2021, corresponds mainly to the penalty imposed by the Technical Secretariat of INDECOPI to the subsidiary Cumbra Peru S.A. for S/28.1 million and to the subsidiary Unna Transporte S.A.C. for S/2.4 million (Note 22-a), additionally, tax penalties for income tax in AENZA S.A.A. for S/18.2 million, Cumbra Peru S.A. for S/9.5 million and Cumbra Ingenieria S.A. for S/0.9 million. In 2020, exposure of the fine by the Technical Secretariat of INDECOPI of the subsidiary Cumbra Peru for S/24.5 million (Note 22-a) and other minor proceedings for S/7.7 million. In 2019, corresponds to the Class Action civil lawsuit in AENZA S.A.A for S/49.7 million. |
Tax Situation (Details)
Tax Situation (Details) - PEN (S/) S/ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2019 | Dec. 31, 2012 | |
Disclosure of income tax [text block] [Abstract] | |||
Income tax law description | 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 are subject to the 20% withholding tax rate. Payments for financial returns to non-residents are subject to the 15% withholding tax rate. Payments to the parent company for management fee, are subject to the 33% withholding tax rate. 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). | ||
Tax rate description | companies domiciled in Peru, Chile, and Colombia applied in 2021 income tax rates of 29.5%, 27% and 31% respectively (29.5%, 27% and 32% for 2020). Red Vial 5 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. | ||
Tax rate | 0.40% | ||
Net assets exceeding | S/ 1.0 | ||
Impairment of investments | S/ 67.0 | ||
Contingent asset | 7.7 | ||
Non-recoverable assets | S/ 10.8 | ||
Income tax payable description | Unna Energia S.A. S/29.3 million in 2021 -Viva Negocio Inmobiliario S.A. S/1.6 million en 2021 -Morelco S.A.S. S/4.8 million in 2021 |
Tax Situation (Details) - Sched
Tax Situation (Details) - Schedule of income tax expense - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of income tax expense [Abstract] | |||
Current income tax | S/ 107,721 | S/ 52,556 | S/ 113,062 |
Deferred income tax (Note 24) | (64,021) | 9,652 | 206,894 |
Income tax expense | 43,700 | 62,208 | 319,956 |
Loss before income tax | (46,614) | (111,212) | (474,726) |
rates on profit generated in the respective countries | (13,182) | (34,133) | (141,370) |
Tax effect on: | |||
- Non-deductible expenses | 33,489 | 47,761 | 84,832 |
- Provision of tax contingencies | 14,240 | (3,421) | 7,079 |
- Change in prior years estimations | 8,492 | 2,213 | 36,529 |
- Unrecognized deferred income tax asset | 1,459 | 24,930 | 82,424 |
- Equity method (profit) loss | 254 | (227) | (64) |
- Non-taxable income | (57) | (22) | (1,195) |
- Reversal of deferred income tax asset | 7,950 | 174,716 | |
- Non-recoverable item | 19,794 | 85,301 | |
- Adjustment for changes in rates of income tax | (240) | 622 | |
- Others | (995) | (2,397) | (8,918) |
Income tax | S/ 43,700 | S/ 62,208 | S/ 319,956 |
Tax Situation (Details) - Sch_2
Tax Situation (Details) - Schedule of consolidated theoretical amount is obtained from the weighting of the profit or loss before income tax and the applicable income tax rate - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Tax Situation (Details) - Schedule of consolidated theoretical amount is obtained from the weighting of the profit or loss before income tax and the applicable income tax rate [Line Items] | |||
Unrealized gains, Utility before the Tax to Rent | S/ (22,261) | S/ (3,095) | S/ 1,022,711 |
Unrealized gains, Tax to rent | (6,708) | (2,073) | 300,119 |
Total, Utility before the Tax to Rent | (46,614) | (111,212) | (474,725) |
Total, Tax to rent | S/ (13,182) | S/ (34,133) | S/ (141,370) |
Peru [Member] | |||
Tax Situation (Details) - Schedule of consolidated theoretical amount is obtained from the weighting of the profit or loss before income tax and the applicable income tax rate [Line Items] | |||
Rates Taxes local Applicable | 29.50% | 29.50% | 29.50% |
Utility before the Tax to Rent | S/ (76,324) | S/ (130,909) | S/ (1,612,192) |
Tax to rent | S/ (22,516) | S/ (38,612) | S/ (475,596) |
Peru - Red Vial 5 S.A. [Member] | |||
Tax Situation (Details) - Schedule of consolidated theoretical amount is obtained from the weighting of the profit or loss before income tax and the applicable income tax rate [Line Items] | |||
Rates Taxes local Applicable | 27.00% | 27.00% | 27.00% |
Utility before the Tax to Rent | S/ 40,473 | S/ (2,029) | S/ 24,066 |
Tax to rent | S/ 10,928 | S/ (548) | S/ 6,498 |
Peru - Tren Urbano de Lima S.A. [Member] | |||
Tax Situation (Details) - Schedule of consolidated theoretical amount is obtained from the weighting of the profit or loss before income tax and the applicable income tax rate [Line Items] | |||
Rates Taxes local Applicable | 30.00% | 30.00% | 30.00% |
Utility before the Tax to Rent | S/ 61,484 | S/ 87,521 | S/ 121,080 |
Tax to rent | S/ 18,445 | S/ 26,256 | S/ 36,324 |
Peru - Via Expresa Sur S.A. [Member] | |||
Tax Situation (Details) - Schedule of consolidated theoretical amount is obtained from the weighting of the profit or loss before income tax and the applicable income tax rate [Line Items] | |||
Rates Taxes local Applicable | 30.00% | 30.00% | 30.00% |
Utility before the Tax to Rent | S/ (3,804) | S/ (53,697) | S/ (17,752) |
Tax to rent | S/ (1,141) | S/ (16,109) | S/ (5,326) |
Peru - Unna Energia S.A. [Member] | |||
Tax Situation (Details) - Schedule of consolidated theoretical amount is obtained from the weighting of the profit or loss before income tax and the applicable income tax rate [Line Items] | |||
Rates Taxes local Applicable | 29.00% | 29.00% | 29.00% |
Utility before the Tax to Rent | S/ 24,699 | S/ (1,930) | S/ 35,421 |
Tax to rent | S/ 6,916 | S/ (540) | S/ 10,272 |
Chile [Member] | |||
Tax Situation (Details) - Schedule of consolidated theoretical amount is obtained from the weighting of the profit or loss before income tax and the applicable income tax rate [Line Items] | |||
Rates Taxes local Applicable | 27.00% | 27.00% | 27.00% |
Utility before the Tax to Rent | S/ (71,692) | S/ 5,401 | S/ (38,177) |
Tax to rent | S/ (19,357) | S/ 1,458 | S/ (10,307) |
Colombia [Member] | |||
Tax Situation (Details) - Schedule of consolidated theoretical amount is obtained from the weighting of the profit or loss before income tax and the applicable income tax rate [Line Items] | |||
Rates Taxes local Applicable | 32.00% | 32.00% | 33.00% |
Utility before the Tax to Rent | S/ 1,040 | S/ (11,178) | S/ (11,824) |
Tax to rent | S/ 322 | S/ (3,577) | S/ (3,902) |
Bolivia [Member] | |||
Tax Situation (Details) - Schedule of consolidated theoretical amount is obtained from the weighting of the profit or loss before income tax and the applicable income tax rate [Line Items] | |||
Rates Taxes local Applicable | 25.00% | 25.00% | 25.00% |
Utility before the Tax to Rent | S/ 59 | S/ (13) | S/ 681 |
Tax to rent | S/ 15 | S/ (3) | S/ 170 |
Mexico [Member] | |||
Tax Situation (Details) - Schedule of consolidated theoretical amount is obtained from the weighting of the profit or loss before income tax and the applicable income tax rate [Line Items] | |||
Rates Taxes local Applicable | 30.00% | 30.00% | 30.00% |
Utility before the Tax to Rent | S/ (288) | S/ (1,283) | S/ 1,261 |
Tax to rent | S/ (86) | S/ (385) | S/ 378 |
Other Comprehensive Income (Det
Other Comprehensive Income (Details) - Schedule of analysis of other comprehensive income - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Comprehensive Income (Details) - Schedule of analysis of other comprehensive income [Line Items] | |||
Beginning balance | S/ (62,909) | S/ (71,181) | S/ (64,295) |
(Charge) credit for the year | (6,382) | 8,272 | (6,884) |
Tax effects | (2) | ||
Other comprehensive income of the year | (6,382) | 8,272 | (6,886) |
Ending balance | (69,291) | (62,909) | (71,181) |
Cash flow hedge [Member] | |||
Other Comprehensive Income (Details) - Schedule of analysis of other comprehensive income [Line Items] | |||
Beginning balance | 594 | 588 | |
(Charge) credit for the year | (594) | 8 | |
Tax effects | (2) | ||
Other comprehensive income of the year | (594) | 6 | |
Ending balance | 594 | ||
Foreign currency translations adjustment [Member] | |||
Other Comprehensive Income (Details) - Schedule of analysis of other comprehensive income [Line Items] | |||
Beginning balance | (61,124) | (69,282) | (62,390) |
(Charge) credit for the year | (5,957) | 8,158 | (6,892) |
Other comprehensive income of the year | (5,957) | 8,158 | (6,892) |
Ending balance | (67,081) | (61,124) | (69,282) |
Increase in fair value of available-for sale assets [Member] | |||
Other Comprehensive Income (Details) - Schedule of analysis of other comprehensive income [Line Items] | |||
Beginning balance | 7,461 | 7,461 | 7,461 |
(Charge) credit for the year | |||
Tax effects | |||
Other comprehensive income of the year | |||
Ending balance | 7,461 | 7,461 | 7,461 |
Exchange difference from net investment in a foreign operation[Member] | |||
Other Comprehensive Income (Details) - Schedule of analysis of other comprehensive income [Line Items] | |||
Beginning balance | (9,246) | (9,954) | (9,954) |
(Charge) credit for the year | (425) | 708 | |
Tax effects | |||
Other comprehensive income of the year | (425) | 708 | |
Ending balance | S/ (9,671) | S/ (9,246) | S/ (9,954) |
Other Comprehensive Income (D_2
Other Comprehensive Income (Details) - Schedule of controlling interest, net of tax - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of controlling interest, net of tax [Abstract] | |||
Controlling interest | S/ (6,382) | S/ 8,272 | S/ (6,886) |
Non-controlling interest | (33) | 114 | (1,734) |
Total value in OCI | S/ (6,415) | S/ 8,386 | S/ (8,620) |
Contingencies, Commitments, a_2
Contingencies, Commitments, and Warranties (Details) S/ in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2021PEN (S/) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | |
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Letters of guarantee amount (in Dollars) | $ | $ 372.4 | $ 427.5 | |
Viva Negocio Inmobiliario S.A. [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Labor dispute processes amount | S/ 0.2 | ||
Tax Contingencies [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Claim process income tax audits | 211.6 | ||
Appeal process before income tax audits | 77.2 | ||
Tax Contingencies [Member] | Top of range [member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Contingency provision | 288.8 | ||
Tax Contingencies [Member] | AENZA S.A.A. [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Claim process income tax audits | 109.2 | ||
Appeal process before income tax audits | 46.1 | ||
Tax Contingencies [Member] | Cumbra Peru S.A. [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Claim process income tax audits | 78.8 | ||
Appeal process before income tax audits | 22.5 | ||
Tax Contingencies [Member] | Cumbra Ingenieria S.A. [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Claim process income tax audits | 17.2 | ||
Appeal process before income tax audits | 5.1 | ||
Tax Contingencies [Member] | CCDS [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Claim process income tax audits | 3 | ||
Tax Contingencies [Member] | Consorcio Constructor Chavimochic [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Claim process income tax audits | 2.5 | ||
Tax Contingencies [Member] | Unna Transporte S.A.C. [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Claim process income tax audits | 0.9 | ||
Tax Contingencies [Member] | Viva Negocio Inmobiliario S.A. [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Appeal process before income tax audits | 3.5 | ||
Other contingencies [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Contingency provision | 84.7 | ||
Civil lawsuits, contract terminations and obligations to pay | 59.8 | ||
Contentious administrative process non-compliance amount | 3.7 | ||
Labor dispute processes amount | 8.6 | ||
Other contingencies [Member] | AENZA S.A.A. [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Administrative processes amount | 2 | ||
Other contingencies [Member] | Cumbra Peru S.A. [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Administrative processes amount | 5.4 | ||
Civil lawsuits, contract terminations and obligations to pay | 52.6 | ||
Contentious administrative process non-compliance amount | 0.7 | ||
Other contingencies [Member] | Cumbra Ingenieria S.A. [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Civil lawsuits, contract terminations and obligations to pay | 3.8 | ||
Other contingencies [Member] | Unna Transporte S.A.C. [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Civil lawsuits, contract terminations and obligations to pay | 1.1 | ||
Labor dispute processes amount | 0.6 | ||
Other contingencies [Member] | Viva Negocio Inmobiliario S.A. [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Civil lawsuits, contract terminations and obligations to pay | 0.8 | ||
Other contingencies [Member] | Other contingencies [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Administrative processes amount | 12.6 | ||
Other contingencies [Member] | Tren Urbano de Lima S.A. [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Administrative processes amount | 4.9 | ||
Other contingencies [Member] | Unna Energia S.A. [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Administrative processes amount | 0.3 | ||
Contentious administrative process non-compliance amount | 1.9 | ||
Other contingencies [Member] | Red Vial 5 S.A. [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Civil lawsuits, contract terminations and obligations to pay | 1.5 | ||
Other contingencies [Member] | Morelco SAS [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Contentious administrative process non-compliance amount | 1.1 | ||
Labor dispute processes amount | 5.9 | ||
Other contingencies [Member] | Unna Energia S.A. and Subsidiaries [Member] | |||
Contingencies, Commitments, and Warranties (Details) [Line Items] | |||
Labor dispute processes amount | S/ 1.9 |
Business Combinations (Details)
Business Combinations (Details) - - Morelco S.A.S. [Member] S/ in Millions, $ in Millions | 12 Months Ended | |||||||
Dec. 31, 2021 | Dec. 31, 2014PEN (S/) | Dec. 15, 2021PEN (S/) | Dec. 15, 2021USD ($) | Dec. 31, 2020PEN (S/) | Dec. 31, 2019PEN (S/) | Dec. 31, 2014USD ($) | Dec. 23, 2014 | |
Business Combinations (Details) [Line Items] | ||||||||
Percentage of interest in capital stock | 70.00% | |||||||
Business combination consideration transferred | S/ 277.1 | $ 93.7 | ||||||
Cash payments made for acquisition (in Dollars) | $ | 78.5 | |||||||
Equivalent to estimated payables | 45.7 | 15.1 | ||||||
Goodwill | S/ 105.8 | $ 36.1 | ||||||
Non-controlling interest, ownership interest | 30.00% | |||||||
Paid to acquire percentage | 70.00% | |||||||
Purchased Call Options [member] | ||||||||
Business Combinations (Details) [Line Items] | ||||||||
Period over which shares of non-controlling interest be acquired | 10 years | |||||||
Written put options [member] | ||||||||
Business Combinations (Details) [Line Items] | ||||||||
Estimated liability | S/ | S/ 118.6 | S/ 106.4 | ||||||
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 | |||||||
Cumbra Inversiones Colombia SAS [Member] | ||||||||
Business Combinations (Details) [Line Items] | ||||||||
Non-controlling interests (in Dollars) | $ | $ 15.4 | |||||||
Maintains payables | S/ 28.0 | $ 7 | ||||||
Other income expenses net | S/ | S/ 70.3 |
Dividends (Details)
Dividends (Details) - PEN (S/) S/ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Dividends (Details) [Line Items] | ||
Distribution of dividends percentage | 40.00% | |
Preparatory Agreement for Effective Collaboration [Member] | ||
Dividends (Details) [Line Items] | ||
Paid dividends to noncontrolling unitholders | S/ 43.0 | S/ 82.4 |
Loss Per Share (Details) - Sche
Loss Per Share (Details) - Schedule of basic loss per common share S/ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2021PEN (S/)shares | Dec. 31, 2021$ / shares | Dec. 31, 2020PEN (S/)shares | Dec. 31, 2020$ / shares | Dec. 31, 2019PEN (S/)shares | Dec. 31, 2019$ / shares | ||
Schedule of basic loss per common share [Abstract] | |||||||
Loss attributable to owners of the Company during the period (in Nuevos Soles) | S/ | S/ (153,210) | S/ (217,871) | S/ (884,721) | ||||
Weighted average number of shares in issue at S/1.00 each, at December 31, (in Shares) | shares | 871,917,855 | 871,917,855 | 822,213,119 | ||||
Basic loss per share (in S/) | $ / shares | [1] | $ (0.176) | $ (0.25) | $ (1.076) | |||
Loss from continuing operations attributable to owners of the Company during the period (in Nuevos Soles) | S/ | S/ (126,436) | S/ (200,947) | S/ (840,762) | ||||
Weighted average number of shares in issue at S/1.00 each, at December 31, (in Shares) | shares | 871,917,855 | 871,917,855 | 822,213,119 | ||||
Basic loss per share (in S/) | $ / shares | [1] | $ (0.145) | $ (0.23) | $ (1.023) | |||
[1] | The Corporation does not have common shares with dilutive effects as of December 31, 2019, 2020 and 2021. |
Transactions with Non-Control_3
Transactions with Non-Controlling Interests (Details) - Gym S.A. [Member] - Vial y Vives - DSD S.A. [Member] - PEN (S/) S/ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2021 | Dec. 31, 2020 | |
Transactions with Non-Controlling Interests (Details) [Line Items] | |||
Percentage of capital acquired | 13.69% | ||
Payment for acquisition of non-controlling interest | S/ 51.1 | ||
Carrying amount of non controlling interests | 35.7 | ||
Increase (Decrease) through de-recognition of non-controlling interest equity | S/ 15.4 | ||
Acquisition of non-controlling interest | S/ 25.3 | S/ 27.6 |
Transactions with Non-Control_4
Transactions with Non-Controlling Interests (Details) - Schedule of contributions of non-controlling shareholders - Viva Negocio Inmobiliario S.A. [Member] - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Transactions with Non-Controlling Interests (Details) - Schedule of contributions of non-controlling shareholders [Line Items] | |||
Contributions received | S/ 182 | S/ 18 | S/ 152 |
Returns of contributions | (27,286) | (15,743) | (33,148) |
Decrease in equity of non controlling parties | S/ (27,104) | S/ (15,725) | S/ (32,996) |
Operations of Subsidiary Adex_3
Operations of Subsidiary Adexus S.A. Reclassified as Discontinuing Operations (Details) - PEN (S/) | Jan. 09, 2020 | Dec. 27, 2021 |
Disclosure of discontinued operations [Abstract] | ||
Reorganization agreement description | the Company reported that the meeting of creditors of Adexus approved with the favorable vote of more than 80% of the pledgees and 85% of the secured creditors, respectively, the judicial reorganization agreement proposed by Adexus under the reorganization proceeding. | |
Sale agreement interest, percentage | 100.00% | |
Agreed selling price | S/ 1 |
Operations of Subsidiary Adex_4
Operations of Subsidiary Adexus S.A. Reclassified as Discontinuing Operations (Details) - Schedule of discontinued operation related to Adexus S.A. - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operations of Subsidiary Adexus S.A. Reclassified as Discontinuing Operations (Details) - Schedule of discontinued operation related to Adexus S.A. [Line Items] | |||
Revenues | S/ 3,946,482 | S/ 3,146,405 | S/ 4,085,004 |
Operating costs | 4,477 | 181,182 | 326,754 |
Administrative expenses | (179,613) | (134,013) | (213,908) |
Operating loss | (211,048) | 4,943 | 98,899 |
Financial expenses | (1,000) | ||
Financial income | 5,773 | 39,316 | 74,656 |
Loss before income tax | (46,614) | (111,212) | (474,726) |
Income tax | 43,700 | 62,208 | 319,957 |
Loss from discontinued operations | 26,774 | 16,924 | 43,959 |
Operating cash flows | 786 | 27,894 | 437 |
Investing cash flows | (3,573) | (3,301) | |
Financing cash flows | 8,449 | (21,016) | (1,250) |
Net increase generated in subsidiary | 5,662 | 3,577 | (813) |
Adexus S.A. [Member] | |||
Operations of Subsidiary Adexus S.A. Reclassified as Discontinuing Operations (Details) - Schedule of discontinued operation related to Adexus S.A. [Line Items] | |||
Revenues | 162,967 | 167,624 | 252,857 |
Operating costs | (157,299) | (157,268) | (244,183) |
Gross profit | 5,668 | 10,356 | 8,674 |
Administrative expenses | (21,698) | (18,896) | (34,744) |
Other (expenses) income, net | 20 | (1,664) | (12,740) |
Operating loss | (16,010) | (10,204) | (38,810) |
Financial expenses | (15,847) | (10,588) | (24,359) |
Financial income | 121 | 104 | 2,625 |
Loss before income tax | (31,736) | (20,688) | (60,544) |
Income tax | 4,962 | 3,764 | 16,585 |
Loss from discontinued operations | (26,774) | (16,924) | (43,959) |
Net effect in consolidated | S/ (26,774) | S/ (16,924) | S/ (43,959) |
Events After The Date of The _2
Events After The Date of The Statement of Financial Position (Details) | Aug. 13, 2021shares | Apr. 19, 2022 | Mar. 31, 2022USD ($)shares | Mar. 17, 2022USD ($) | Dec. 31, 2021PEN (S/)shares | Dec. 31, 2021USD ($)$ / sharesshares | Feb. 28, 2022S/ / sharesshares |
Events After The Date of The Statement of Financial Position (Details) [Line Items] | |||||||
Convertible bonds (in Shares) | shares | 89,970 | 11,000 | 11,000 | ||||
per value of convertible bonds (in Dollars per share) | $ / shares | $ 1,000 | ||||||
Principal amount equivalent | $ 11,000,000 | ||||||
Convertible bonds issued | $ 79,000,000 | ||||||
Joint agreement, description | According to the signed minutes, the deadline for negotiations between the Ministry of Agriculture and Irrigation and the Chavimochic concessionaire is 60 working days, and this deadline may be extended 30 working days for the signing of the addendum to the contract, which will allow the concessionaire to finish the Palo Redondo dam, which is currently 70% complete. | ||||||
Minimum [Member] | |||||||
Events After The Date of The Statement of Financial Position (Details) [Line Items] | |||||||
Per value of nominal value (in Nuevos Soles) | S/ | S/ 871,917,855 | ||||||
Maximum [Member] | |||||||
Events After The Date of The Statement of Financial Position (Details) [Line Items] | |||||||
Per value of nominal value (in Nuevos Soles) | S/ | S/ 909,718,928 | ||||||
Events After Reporting Period [Member] | |||||||
Events After The Date of The Statement of Financial Position (Details) [Line Items] | |||||||
Principal amount equivalent | $ 78,970,000 | ||||||
New Common shares issued (in Shares) | shares | 37,801,073 | ||||||
Par value per shares (in Nuevos Soles per share) | S/ / shares | S/ 1 | ||||||
Convertible bonds (in Shares) | shares | 78,970 | ||||||
Debt description | As a consequence, we issued provisional certificates for 287,261,051 new common shares. Therefore, our capital stock has increased from S/909,718,928 to S/1,196,979,979. After this last conversion of the convertible bonds, the bonds have been fully cancelled. | ||||||
Bridge loan | $ 120,000,000 |