Financial Risk Management (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Undiscounted Cash Flows of Financial Liabilities

The table below analyzes the Group’s financial liabilities into relevant maturity groupings based on the remaining period from the date of the statement of financial position to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows.

	Less than 1 year		1-2 years		2-5 years		More than 5 years		Total
At December 31, 2016
Other financial liabilities (except for finance leases)		1,936,825		128,508		173,145		—		2,238,478
Finance leases		127,496		85,989		26,780		19,506		259,771
Bonds		113,299		180,431		365,697		1,334,485		1,993,912
Trade accounts payables		1,276,617		—		—		—		1,276,617
Accounts payables to related parties		80,217		28,082		37,238		—		145,537
Other accounts payables		303,827		49,064		143,655		—		496,546
Other non-financial liabilities		—		1,081		—		—		1,081
		3,838,281		473,155		746,515		1,353,991		6,411,942
At December 31, 2017
Other financial liabilities (except for finance leases)		1,003,500		336,913		290,253		—		1,630,666
Finance leases		72,864		41,877		24,022		638		139,401
Bonds		109,746		148,986		353,349		1,272,647		1,884,728
Trade accounts payables		1,453,046		—		—		—		1,453,046
Accounts payables to related parties		55,174		25,954		—		—		81,128
Other accounts payables		153,498		34,527		371,976		—		560,001
Other non-financial liabilities		—		383		—		—		383
		2,847,828		588,640		1,039,600		1,273,285		5,749,353

Schedule of Information About Gearing Ratio

As of December 31, the gearing ratio was as follows:

	2016			2017
Total financial liabilities and bonds		3,348,152			2,637,630
Less: Cash and cash equivalent		(606,950	)		(626,180	)
Net debt		2,741,202			2,011,450
Total equity		2,489,737			2,589,078
Total capital		5,230,939			4,600,528
Gearing ratio		0.52			0.44

Schedule of Assets and Liabilities Measured at Fair Value

The table below shows the Group’s assets and liabilities measured at fair value at December 31, 2016 and 2017:

	Level 1		Level 2		Level 3		Total
At December 31, 2016
Financial assets
Financial assets at fair value through profit or loss		6,379		—		—		6,379
Financial liabilities
Derivatives used for hedging		—		1,081		—		1,081
At December 31, 2017
Financial assets
Financial assets at fair value through profit or loss		181		—		—		181
Financial liabilities
Derivatives used for hedging		—		383		—		383