Financial Risk Management (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Consolidated Statement of Financial Position

At December 31, 2018, the consolidated statement of financial position includes the following:


	2017				2018
	S/(000)		USD(000)		S/(000)		USD(000)
Assets		1,851,309		570,511		2,273,132		674,753
Liabilities		1,982,007		610,788		2,042,176		604,383

Schedule of Foreign Currency Exchange Gains and Losses Exposure against US Dollar

The Group’s exchange gains and losses for the Peruvian Sol, the Chilean and Colombian Pesos exposure against the U.S. dollar was:


	2016			2017			2018
Gain		742,930			329,751			382,104
Loss		(755,680	)		(323,927	)		(405,380	)

Schedule of Assets and Liabilities Equivalent to Functional Currency

The consolidated statement of changes in equity comprises a foreign currency translation adjustment originated by its subsidiaries. The statement financial position includes assets and liabilities in functional currency equivalent to:


	2017				2018
	Assets		Liabilities		Assets		Liabilities
CLP		77,199,082		74,447,874		48,129,848		49,728,313
COP		101,300,811		74,319,654		163,560,697		76,978,655

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		1-2		2-5		More than
	1 year		years		years		5 years		Total
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


	Less than		1-2		2-5		More than
	1 year		years		years		5 years		Total
At December 31, 2018
Other financial liabilities (except for finance leases)		816,122		273,079		129,233		41,577		1,260,011
Finance leases		15,151		7,489		14,094		—		36,734
Bonds		111,080		153,287		355,667		1,174,404		1,794,438
Trade accounts payables		1,079,531		—		—		—		1,079,531
Accounts payables to related parties		55,941		21,849		—		—		77,790
Other accounts payables		116,806		17,777		338,627		—		473,210
Other non-financial liabilities		—		61		—		—		61

		2,194,631		473,542		837,621		1,215,981		4,721,775

Schedule of Information About Gearing Ratio

As of December 31, 2017, and 2018, the gearing ratio is presented below indicating the Group’s strategy to keep it in a range from 0.10 to 0.70.


	2017			2018
Total financial liabilities and bonds		2,637,630			2,139,714
Less: Cash and cash equivalents		(626,180	)		(801,140	)

Net debt		2,011,450			1,338,574
Total equity		2,589,078			2,489,931

Total capital		4,600,528			3,828,505

Gearing ratio		0.44			0.35

Schedule of Assets and Liabilities Measured at Fair Value

The table below shows the Group’s assets and liabilities measured at fair value on December 31, 2017, and 2018:


	Level 1		Level 2		Total
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
At December 31, 2018
Financial liabilities
Derivatives used for hedging		—		61		61