Segment Reportinorng (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of Profit before Income Tax Reconciles to EBITDA

Profit before income tax reconciles to EBITDA as follows:

	2015		2016			2017
(Profit) loss before income tax		142,345		(582,865	)		328,713
Financial cost, net		130,447		201,019			170,038
Depreciation		217,071		205,522			199,793
Amortization		89,355		82,743			86,557
EBITDA		579,218		(93,581	)		785,101

Disclosure of Detailed Information About EBITDA for Each Segment

EBITDA for each segment is as follows:

	2015			2016			2017
Engineering and construction		220,137			106,106			194,334
Infrastructure		272,230			237,752			300,935
Real state		52,794			121,421			177,285
Technical services		35,083			39,751			36,796
Parent company operations		(35,591	)		(1,026,394	)		216,666
Eliminations intercompany		34,565			427,783			(140,915	)
Total EBITDA		579,218			(93,581	)		785,101

Summary of Breakdown by Operating Segments

The “Backlog” refers to the expected future revenue under signed contracts and legally binding letters of intent. The breakdown by operating segments as of December 31, 2017, and the dates in which they are estimated to, is shown in the following table:

				Annual Backlog
	2017			2018			2019			2020+
Engineering and Construction		4,727,022			2,261,700			1,320,381			1,144,941
Infrastructure		3,090,417			1,023,749			997,309			1,069,358
Real state		84,128			61,296			22,832			—
Technical Services		1,493,181			687,183			390,647			415,351
Eliminations Intercompany		(321,897	)		(112,237	)		(104,459	)		(105,200	)
		9,072,850			3,921,691			2,626,709			2,524,450

Disclosure of Detailed Information About Operating Segments Financial Position

The table below shows the Group’s financial statements by operating segments:

Operating segments financial position

Segment reporting

	Engineering		Infrastructure												Parent
	and construction		Energy		Toll roads		Transportation		Water treatment		Real estate		Technical services		Company Operations		Eliminations			Consolidated
As of December 31, 2016
Assets.-
Cash and cash equivalent		93,543		35,396		125,853		139,414		3,229		58,892		37,675		112,398		550			606,950
Financial asset at fair value through profit or loss		352		—		—		—		—		—		—		—		—			352
Trade accounts receivables		334,426		84,996		77,615		56,665		256		83,704		395,812		—		(2,204	)		1,031,270
Work in progress		648,851		—		—		32,078		—		—		—		—		—			680,929
Accounts receivable from related parties		327,385		3,255		55,907		392		12,379		7,284		12,468		50,582		(287,988	)		181,664
Other accounts receivable		398,666		58,235		28,779		25,895		4,841		20,198		70,769		42,133		—			649,516
Inventories		76,058		12,561		9,839		16,862		—		946,657		55,431		387		(13,502	)		1,104,293
Prepaid expenses		9,204		2,614		2,005		17,265		167		329		19,412		305		—			51,301
Non-current assets classified as held for sale		22,385		—		—		—		—		—		—		—		—			22,385
Total current assets		1,910,870		197,057		299,998		288,571		20,872		1,117,064		591,567		205,805		(303,144	)		4,328,660
Long-term trade accounts receivable		149		—		15,092		629,310		—		—		22,968		—		—			667,519
Long-term work in progress		171,752		—		24,165		—		—		—		—		—		1,669			197,586
Long-term accounts receivable from related parties		—		—		408		—		—		—		492		700,615		(170,131	)		531,384
Prepaid expenses		—		—		20,554		2,029		943		—		—		—		—			23,526
Other long-term accounts receivable		42,511		29,533		22,926		225,565		7,347		17,887		1,075		11,108		—			357,952
Investments in associates and joint ventures		116,512		8,516		—		—		—		31,768		9,589		2,358,918		(2,135,544	)		389,759
Investment property		—		—		—		—		—		49,357		—		—		—			49,357
Property, plant and equipment		592,191		176,486		23,508		193		21		13,008		195,462		130,422		(17,692	)		1,113,599
Intangible assets		246,715		139,353		457,163		269		—		950		78,687		22,793		14,356			960,286
Deferred income tax asset		158,168		4,983		13,244		—		—		623		53,003		189,230		7,757			427,008
Total non-current assets		1,327,998		358,871		577,060		857,366		8,311		113,593		361,276		3,413,086		(2,299,585	)		4,717,976
Total assets		3,238,868		555,928		877,058		1,145,937		29,183		1,230,657		952,843		3,618,891		(2,602,729	)		9,046,636
Liabilities.-
Borrowings		582,260		82,063		3,014		—		—		206,456		155,137		932,113		—			1,961,043
Bonds		—		—		25,540		20,551		—		—		—		—		—			46,091
Trade accounts payable		876,849		59,830		31,857		23,882		599		30,617		247,219		6,703		(939	)		1,276,617
Accounts payable to related parties		119,989		3,902		38,219		33,009		237		66,190		33,749		67,685		(282,763	)		80,217
Current income tax		30,576		3,631		3,401		—		1,064		17,944		5,544		—		—			62,160
Other accounts payable		485,247		11,711		43,614		14,622		27		194,441		157,201		189,444		—			1,096,307
Provisions		6,615		6,441		—		—		—		131		1,344		—		—			14,531
Total current liabilities		2,101,536		167,578		145,645		92,064		1,927		515,779		600,194		1,195,945		(283,702	)		4,536,966
Borrowings		246,315		80,488		2,510		—		—		16,541		73,541		—		—			419,395
Long-term bonds		—		—		338,143		583,480		—		—		—		—		—			921,623
Other long-term accounts payable		147,839		—		44,451		246,522		—		32,000		39,558		2,433		—			512,803
Long-term accounts payable to related parties		41,672		—		408		87,200		23,445		40,074		42,259		394		(170,132	)		65,320
Provisions		7,670		17,115		—		—		—		—		1,757		—		—			26,542
Derivative financial instruments		—		1,081		—		—		—		—		—		—		—			1,081
Deferred income tax liability		28,278		3,546		1,525		14,482		283		15,564		9,491		—		—			73,169
Total non-current liabilities		471,774		102,230		387,037		931,684		23,728		104,179		166,606		2,827		(170,132	)		2,019,933
Total liabilities		2,573,310		269,808		532,682		1,023,748		25,655		619,958		766,800		1,198,772		(453,834	)		6,556,899
Equity attributable to controlling interest in the Company		551,653		265,241		282,851		91,643		3,528		234,449		148,028		2,406,577		(2,003,546	)		1,980,424
Non-controlling interest		113,905		20,879		61,525		30,546		—		376,250		38,015		13,542		(145,349	)		509,313
Total liabilities and equity		3,238,868		555,928		877,058		1,145,937		29,183		1,230,657		952,843		3,618,891		(2,602,729	)		9,046,636

Operating segments financial position

Segment reporting

	Engineering		Infrastructure													Parent
	and construction		Energy		Toll roads		Transportation		Water treatment			Real estate		Technical services		Company Operations		Eliminations			Consolidated
As of December 31, 2017
Assets.-
Cash and cash equivalent		184,401		43,878		121,901		161,073		4,204			85,187		21,904		3,632		—			626,180
Financial asset at fair value through profit or loss		181		—		—		—		—			—		—		—		—			181
Trade accounts receivables		368,303		64,364		128,124		108,706		604			45,897		274,103		419		2,204			992,724
Work in progress		578,723		—		—		—		—			—		—		6,030		—			584,753
Accounts receivable from related parties		230,607		2,746		62,525		3,072		8,852			69,382		9,947		66,059		(352,438	)		100,752
Other accounts receivable		518,123		55,959		66,765		31,381		1,922			40,026		38,527		12,742		—			765,445
Inventories		46,499		15,093		8,685		19,457		—			643,882		45,512		190		(8,607	)		770,711
Prepaid expenses		4,470		1,168		2,354		10,312		164			216		14,037		757		—			33,478
Non-current assets classified as held for sale		17,722		—		—		—		—			—		—		—		—			17,722
Total current assets		1,949,029		183,208		390,354		334,001		15,746			884,590		404,030		89,829		(358,841	)		3,891,946
Long-term trade accounts receivable		—		—		14,747		793,991		—			—		39,852		—		—			848,590
Long-term work in progress		58,997		—		28,413		—		—			—		—		—		—			87,410
Long-term accounts receivable from related parties		258,479		—		27,660		—		—			—		474		636,941		(149,624	)		773,930
Prepaid expenses		—		—		24,585		13,115		892			—		—		—		(510	)		38,082
Other long-term accounts receivable		75,030		53,917		11,159		255,179		7,348			9,811		1,712		56,696		—			470,852
Investments in associates and joint ventures		111,513		7,344		—		—		—			1		10,113		2,206,230		(2,066,530	)		268,671
Investment property		—		—		—		—		—			45,687		—		—		—			45,687
Property, plant and equipment		509,700		171,226		18,572		580		60			11,621		100,936		70,627		(17,587	)		865,735
Intangible assets		203,390		160,288		492,424		323		—			1,022		47,332		24,031		11,260			940,070
Deferred income tax asset		165,227		5,507		11,057		—		—			10,316		46,470		192,088		6,032			436,697
Total non-current assets		1,382,336		398,282		628,617		1,063,188		8,300			78,458		246,889		3,186,613		(2,216,959	)		4,775,724
Total assets		3,331,365		581,490		1,018,971		1,397,189		24,046			963,048		650,919		3,276,442		(2,575,800	)		8,667,670
Liabilities.-
Borrowings		591,987		46,924		2,589		—		—			162,031		139,821		113,412		—			1,056,764
Bonds		—		—		24,361		12,294		—			—		—		—		—			36,655
Trade accounts payable		955,015		62,659		85,329		81,161		132			43,724		189,553		36,412		(939	)		1,453,046
Accounts payable to related parties		114,198		3,664		60,857		83,841		14			37,396		14,428		88,546		(347,770	)		55,174
Current income tax		29,379		1,282		1,122		—		161			45,299		8,300		—		—			85,543
Other accounts payable		492,362		12,487		68,994		27,058		49			63,654		109,904		73,992		—			848,500
Provisions		6,682		5,204		—		—		—			20		1,597		—		—			13,503
Total current liabilities		2,189,623		132,220		243,252		204,354		356			352,124		463,603		312,362		(348,709	)		3,549,185
Borrowings		127,773		101,549		1,945		—		—			12,010		26,458		363,564		—			633,299
Long-term bonds		—		—		319,549		591,363		—			—		—		—		—			910,912
Other long-term accounts payable		379,043		—		52,349		349,987		158			32,058		36,409		2,469		—			852,473
Long-term accounts payable to related parties		4,306		—		836		89,023		23,445			—		30,739		32,102		(154,497	)		25,954
Provisions		8,587		16,707		—		—		—			—		3,365		5,255		—			33,914
Derivative financial instruments		—		383		—		—		—			—		—		—		—			383
Deferred income tax liability		26,633		8,957		8,606		20,789		210			—		7,277		—		—			72,472
Total non-current liabilities		546,342		127,596		383,285		1,051,162		23,813			44,068		104,248		403,390		(154,497	)		2,529,407
Total liabilities		2,735,965		259,816		626,537		1,255,516		24,169			396,192		567,851		715,752		(503,206	)		6,078,592
Equity attributable to controlling interest in the Company		487,923		299,411		323,987		106,256		(123	)		217,290		82,100		2,547,328		(1,940,842	)		2,123,330
Non-controlling interest		107,477		22,263		68,447		35,417		—			349,566		968		13,362		(131,752	)		465,748
Total liabilities and equity		3,331,365		581,490		1,018,971		1,397,189		24,046			963,048		650,919		3,276,442		(2,575,800	)		8,667,670

Disclosure of Detailed Information About Operating Segment Performance

Operating segment performance

Segment Reporting

	Engineering			Infrastructure																		Parent
	and construction			Energy			Toll roads			Transportation			Water treatment			Real estate			Technical services			Company operations			Eliminations			Consolidated
Year 2015 -
Revenue		5,829,441			389,377			729,232			206,459			27,994			215,764			563,874			70,531			(449,760	)		7,582,912
Gross profit (loss)		312,780			63,530			139,651			40,468			2,225			51,755			76,828			(7,004	)		(67,238	)		612,995
Administrative expenses		(289,149	)		(18,214	)		(37,934	)		(10,529	)		(310	)		(20,521	)		(60,871	)		(29,882	)		73,187			(394,223	)
Other income and expenses		30,616			1,365			565			—			—			1,759			12,135			11,114			(2,968	)		54,586
Gain from the sale of investments		—			—			—			—			—			—			(8,289	)		—			—			(8,289	)
Operating profit (loss)		54,247			46,681			102,282			29,939			1,915			32,993			19,803			(25,772	)		2,981			265,069
Financial expenses		(127,383	)		(19,953	)		(9,974	)		(5,303	)		(45	)		(11,642	)		(18,265	)		(2,818	)		27,300			(168,083	)
Financial income		8,875			158			9,812			2,316			121			746			584			56,101			(41,077	)		37,636
Share of the profit or loss in associates and joint ventures under the equity method of accounting		(2,234	)		944			—			—			—			14,888			589			(14,709	)		8,246			7,724
(Loss) profit before income tax		(66,495	)		27,830			102,120			26,952			1,991			36,985			2,711			12,802			(2,550	)		142,346
Income tax		(55,350	)		(7,650	)		(30,157	)		(8,129	)		(520	)		(7,649	)		20,593			(9,208	)		2,171			(95,899	)
(Loss) profit from continuing operations		(121,845	)		20,180			71,963			18,823			1,471			29,336			23,304			3,594			(379	)		46,447
Profit from discontinued operations		—			—			—			—			—			—			5,162			—			3,980			9,142
(Loss) Profit for the year		(121,845	)		20,180			71,963			18,823			1,471			29,336			28,466			3,594			3,601			55,589
(loss) Profit attributable to:
Owners of the Company		(131,181	)		17,072			60,331			14,118			1,471			12,377			20,001			4,337			8,571			7,097
Non-controlling interest		9,336			3,108			11,632			4,705			—			16,959			8,465			(743	)		(4,970	)		48,492
		(121,845	)		20,180			71,963			18,823			1,471			29,336			28,466			3,594			3,601			55,589

Operating segment performance

Segment Reporting

	Engineering			Infrastructure																		Parent
	and  construction			Energy			Toll roads			Transportation			Water treatment			Real estate			Technical services			Company operations			Eliminations			Consolidated
Year 2016 -
Revenue		4,159,538			382,211			527,104			247,040			18,459			411,518			841,121			62,070			(458,744	)		6,190,317
Gross profit (loss)		224,621			42,129			121,114			42,473			5,698			136,540			77,304			(171	)		(92,413	)		557,295
Administrative expenses		(258,568	)		(17,260	)		(35,085	)		(12,952	)		(786	)		(28,430	)		(69,870	)		(35,740	)		76,298			(382,393	)
Other income and expenses		(9,250	)		542			263			10			—			838			3,989			(5,843	)		(3,923	)		(13,374	)
Gain from the sale of investments		—			—			—			—			—			—			—			46,336			—			46,336
Operating (loss) profit		(43,197	)		25,411			86,292			29,531			4,912			108,948			11,423			4,582			(20,038	)		207,864
Financial expenses		(65,138	)		(10,801	)		(7,390	)		(2,810	)		(38	)		(14,388	)		(20,170	)		(115,225	)		14,296			(221,664	)
Financial income		11,216			1,040			2,225			8,037			86			2,816			2,991			18,688			(26,454	)		20,645
Share of the profit or loss in associates and joint ventures under the equity method of accounting		16,501			1,615			—			—			—			6,850			360			(1,036,888	)		421,852			(589,710	)
(Loss) profit before income tax		(80,618	)		17,265			81,127			34,758			4,960			104,226			(5,396	)		(1,128,843	)		389,656			(582,865	)
Income tax		(12,828	)		(5,308	)		(22,213	)		(10,904	)		(1,433	)		(27,054	)		(1,646	)		193,425			7,233			119,272
(Loss) profit from continuing operations		(93,446	)		11,957			58,914			23,854			3,527			77,172			(7,042	)		(935,418	)		396,889			(463,593	)
Profit from discontinued operations		—			—			—			—			—			—			7,851			—			4,144			11,995
(Loss) profit for the year		(93,446	)		11,957			58,914			23,854			3,527			77,172			809			(935,418	)		401,033			(451,598	)
(Loss) profit attributable to:
Owners of the Company		(87,710	)		9,370			43,656			17,891			3,527			22,106			1,546			(934,508	)		414,423			(509,699	)
Non-controlling interest		(5,736	)		2,587			15,258			5,963			—			55,066			(737	)		(910	)		(13,390	)		58,101
		(93,446	)		11,957			58,914			23,854			3,527			77,172			809			(935,418	)		401,033			(451,598	)

Operating segment performance

Segment Reporting

	Engineering			Infrastructure																		Parent
	and  construction			Energy			Toll roads			Transportation			Water treatment			Real estate			Technical services			Company operations			Eliminations			Consolidated
Year 2017 -
Revenue		3,353,199			436,876			642,127			365,772			3,152			647,535			1,060,996			70,049			(499,564	)		6,080,142
Gross profit (loss)		290,296			71,825			139,196			48,696			445			147,384			57,816			(37,771	)		(45,100	)		672,787
Administrative expenses		(231,044	)		(15,854	)		(32,454	)		(15,279	)		(317	)		(21,189	)		(74,174	)		(100,687	)		61,817			(429,181	)
Other income and expenses		(42,747	)		5,139			1,062			5			—			(3,700	)		8,625			10,512			559			(20,545	)
Gain from the sale of investments		25,768			—			—			—			—			49,002			—			195,378			4,215			274,363
Operating profit (loss)		42,273			61,110			107,804			33,422			128			171,497			(7,733	)		67,432			21,491			497,424
Financial expenses		(52,852	)		(13,423	)		(6,893	)		(8,000	)		(50	)		(21,917	)		(29,597	)		(80,339	)		27,626			(185,445	)
Financial income		9,434			1,964			3,256			3,606			26			3,569			3,382			32,925			(42,755	)		15,407
Share of the profit or loss in associates and joint ventures under the equity method of accounting		30,633			1,584			—			—			—			455			1,203			142,596			(175,144	)		1,327
Profit (loss) before income tax		29,488			51,235			104,167			29,028			104			153,604			(32,745	)		162,614			(168,782	)		328,713
Income tax		(17,091	)		(13,151	)		(32,290	)		(9,545	)		(227	)		(35,900	)		4,763			(19,495	)		(101	)		(123,037	)
Profit (loss) from continuing operations		12,397			38,084			71,877			19,483			(123	)		117,704			(27,982	)		143,119			(168,883	)		205,676
Profit from discontinued operations		—			—			—			—			—			—			2,317			—			1,245			3,562
Profit (loss) for the year		12,397			38,084			71,877			19,483			(123	)		117,704			(25,665	)		143,119			(167,638	)		209,238
Profit (loss) attributable to:
Owners of the Company		12,077			33,715			55,620			14,613			(123	)		48,648			(18,094	)		143,279			(140,997	)		148,738
Non-controlling interest		320			4,369			16,257			4,870			—			69,056			(7,571	)		(160	)		(26,641	)		60,500
		12,397			38,084			71,877			19,483			(123	)		117,704			(25,665	)		143,119			(167,638	)		209,238

Disclosure of Geographical Areas

Segments by geographical area

	2015		2016		2017
Revenue:
- Peru		5,457,577		4,547,449		4,375,760
- Chile		944,198		707,364		1,054,885
- Colombia		778,333		570,203		285,897
- Panama		206,137		346,065		361,450
- Guyana		111,924		717		—
- Brasil		39,253		—		—
- Ecuador		—		3,682		—
- Bolivia		45,490		14,837		2,149
		7,582,912		6,190,317		6,080,142
Non-current assets:
- Peru		3,230,288		3,995,453		4,164,342
- Chile		320,094		446,998		407,152
- Colombia		124,820		260,732		203,203
- Bolivia		15,043		13,043		149
- Ecuador		—		888		—
- Guyana		8,800		862		878
- Panama		584		—		—
		3,699,629		4,717,976		4,775,724