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Interest in Other Entities (Tables)
 12 Months Ended
Dec. 31, 2018
Investments accounted for using equity method [abstract]  
Summary of Principal Direct and Indirect Subsidiaries Classified by Operating Segment

The following table shows the principal direct and indirect subsidiaries classified by operating segment (Note 7):

 

Name

   

Country

   

Economic activity
Engineering and Construction:      
GyM S.A.    Peru, and Colombia    Civil construction, electro-mechanic assembly, buildings management and implementing housing development projects and other related services.
GyM Chile S.p.A.    Chile    Electromechanical assemblies and services to energy, oil, gas and mining sector.
Vial y Vives - DSD S.A.    Chile    Electromechanical assemblies and services. Develop activities related to the construction of engineering projects, civil construction projects and electromechanical assemblies, as well as architectural design and installations in general. Construction and assemblies and electromechanical services in the sectors of energy, oil, gas and mining.
GMI S.A.    Peru, Mexico, and Bolivia    Advisory and consultancy services in engineering, carrying out studies and projects, managing projects and supervision of works.
Morelco S.A.S    Colombia and Ecuador    Providing construction and assembly services, supplying equipment and material to design, build, assemble, operate and maintain all types of mechanical engineering, instrumentation, and civil work.

Infrastructure:

      
GMP S.A.    Peru    Oil and oil by-products extraction services, as well as providing storage and fuel 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.    Peru    Supply, process and market natural gas and its derivative products.
Concar S.A.    Peru    Highway and roads concessions operation and maintenance.
GyM Ferrovias S.A.    Peru    Concession for the operation of the public transportation system of the Line 1 of the Lima Metro (Metro de Lima Metropolitana).
Survial S.A.    Peru    Concession for constructing, operating and maintaining Section 1 of the “Southern Inter-oceanic” highway.
Norvial S.A.    Peru    Concession for restoring, operating and maintaining the “Ancon - Huacho - Pativilca” section of the Panamericana Norte road.
Concesion Canchaque S.A.C.    Peru    Concession for operating and maintaining of the Buenos Aires - Canchaque highway.
Concesionaria Via Expresa Sur S.A.    Peru    Concession for designing, constructing, operating and maintaining the Via Expresa - Paseo de la Republica in Lima.

Real estate:

      
VIVA GyM S.A.    Peru    Developing and managing real estate projects directly or together with other partners.
Parent company operation:      
Adexus S.A.    Chile, Peru, Colombia and Ecuador    IT solutions services.
CAM Holding S.p.A.    Chile    Electric and technological services for the power industry.
Generadora Arabesco S.A.    Peru    Implementing projects related to electric power-generating activities.
Larcomar S.A.    Peru    Exploiting land right to use the Larcomar Shopping Center.
Promotora Larcomar S.A.    Peru    Building a hotel complex on a plot of land located in the district of Miraflores.
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    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.
Summary of Group's Subsidiaries and Related Interests

The following table shows the Group’s subsidiaries and related interest as of December 31, 2018:

 

     Percentage of
common shares
directly held by
Parent (%)		     Percentage of
common shares
held by
Subsidiaries (%)		     Percentage of
common
shares held by
the group (%)		     Percentage of
common shares
held by non-
controlling
interests (%)		  

Engineering and Construction:

         

GyM S.A.

      98.24 %      —         98.24 %      1.76 % 

- Morelco S.A.S.

      —         70.00 %      70.00 %      30.00 % 

GyM Chile SpA

      —         94.49 %      99.99 %      0.01 % 

- V y V – DSD S.A.

      —         94.49 %      94.49 %      5.51 % 

GMI S.A.

      89.41 %      —         89.41 %      10.59 % 

- Ecotec

      —         99.99 %      99.99 %      0.01 % 

- Gm Ingenieria y Construcción de CV

      —         99.00 %      99.00 %      1.00 % 

- Gm Ingeniería Bolivia S.R.L.

      —         99.00 %      99.00 %      1.00 % 

- Consorcio Vial La Concordia

      —         88.00 %      88.00 %      12.00 % 

Infrastructure:

         

GMP S.A.

      95.00 %      —         95.00 %      5.00 % 

- Oiltanking Andina Services S.A.

      —         50.00 %      50.00 %      50.00 % 

- Transportadora de Gas Natural Comprimido Andino S.A.C.

      —         99.93 %      99.93 %      0.07 % 

Concar S.A.

      99.99 %      —         99.99 %      0.01 % 

GyM Ferrovias S.A.

      75.00 %      —         75.00 %      25.00 % 

Survial S.A.

      99.99 %      —         99.99 %      0.01 % 

Norvial S.A.

      67.00 %      —         67.00 %      33.00 % 

Concesión Canchaque S.A.

      99.96 %      —         99.96 %      0.04 % 

Concesionaria Vía Expresa Sur S.A.

      99.98 %      0.02 %      100.00 %      —    

 

     Percentage of
common shares
directly held by
Parent (%)		     Percentage of
common shares
held by
Subsidiaries (%)		     Percentage of
common
shares held by
the group (%)		     Percentage of
common shares
held by non-
controlling
interests (%)		  

Real Estate:

         

Viva GyM S.A.

      63.44 %      36.10 %      99.54 %      0.46 % 

Parent company operations:

         

Generadora Arabesco S.A.

      99.00 %      —         99.00 %      1.00 % 

Larcomar S.A.

      79.66 %      —         79.66 %      20.34 % 

Promotora Larcomar S.A.

      46.55 %      —         46.55 %      53.45 % 

Promotores Asociados de Inmobiliarias S.A.

      99.99 %      —         99.99 %      0.01 % 

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.

      100.00 %      —         —         —    

Cam Holding S.p.A.

      100.00 %      —         100.00 %      —    

Adexus S.A.

      99.99 %      0.01 %      100.00 %      —    

 

The following table shows the Group’s subsidiaries and related interest as of December 31, 2017:

 

     Percentage of
common shares
directly held by
Parent (%)		     Percentage of
common shares
held by
Subsidiaries (%)		     Percentage of
common
shares held by
the group (%)		     Percentage of
common shares
held by non-
controlling
interests (%)		  

Engineering and Construction:

         

GyM S.A.

      98.23 %      —         98.23 %      1.77 % 

Stracon GyM S.A.

      —         87.59 %      87.59 %      12.41 % 

GyM Chile SpA

      —         99.99 %      99.99 %      0.01 % 

V y V – DSD S.A.

      —         94.49 %      94.49 %      5.51 % 

Morelco S.A.S.

      —         70.00 %      70.00 %      30.00 % 

GMI S.A.

      89.41 %      —         89.41 %      10.59 % 

Infrastructure:

         

GMP S.A.

      95.00 %      —         95.00 %      5.00 % 

Oiltanking Andina Services S.A.

      —         50.00 %      50.00 %      50.00 % 

Transportadora de Gas Natural

         

Comprimido Andino S.A.C.

      —         99.93 %      99.93 %      0.07 % 

Concar S.A.

      99.75 %      —         99.75 %      0.25 % 

GyM Ferrovias S.A.

      75.00 %      —         75.00 %      25.00 % 

Survial S.A.

      99.99 %      —         99.99 %      0.01 % 

Norvial S.A.

      67.00 %      —         67.00 %      33.00 % 

Concesión Canchaque S.A.

      99.96 %      —         99.96 %      0.04 % 

Real Estate:

         

Viva GyM S.A.

      63.44 %      36.10 %      99.54 %      0.46 % 

Parent company operations:

         

Cam Holding S.p.A.

      100.00 %      —         100.00 %      —    

Coasin Instalaciones Ltda.

      —         100.00 %      100.00 %      —    

CAM Servicios del Perú S.A.

      73.16 %      —         73.16 %      26.84 % 

Adexus S.A.

      99.99 %      0.01 %      100.00 %      —    

Generadora Arabesco S.A.

      99.00 %      —         99.00 %      1.00 % 

Larcomar S.A.

      79.66 %      —         79.66 %      20.34 % 

Promotora Larcomar S.A.

      46.55 %      —         46.55 %      53.45 % 

Promotores Asociados de Inmobiliarias S.A.

      99.99 %      —         99.99 %      0.01 % 

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.

      99.99 %      0.01 %      100.00 %      —    
Summary of Group's Subsidiaries Non-controlling Interests

The following table shows the Group’s subsidiaries non-controlling interests as of December 31, 2018:

 

Non-controlling participation

      2017        2018  
  

 

 

     

 

 

  

Viva GyM S.A. and subsidiaries

      225,921        168,612  

GyM S.A. and subsidiaries

      103,170        67,639  

Norvial S.A.

      68,419        65,918  

CAM Holding S.p.A.

      (6,417 )       —    

GMP S.A.

      22,263        23,424  

GyM Ferrovias S.A.

      35,419        55,986  

Promotora Larcomar S.A.

      13,395        13,121  

Other

      3,578        6,871  
  

 

 

     

 

 

  
     465,748      401,571  
  

 

 

     

 

 

  
Summarized Financial Information of Subsidiaries With Material Non-controlling Interests

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 Group.

Summarized statement of financial position

 

     Viva GyM S.A. and
subsidiaries		     GyM S.A. and
subsidiaries		     Norvial S.A.  
     At December 31,     At December 31,     At December 31,  
     2017     2018     2017     2018     2017     2018  

Current:

             

Assets

      884,591       720,976       1,875,231       1,262,588       88,077       109,778  

Liabilities

      (352,125 )      (310,132 )      (2,142,618 )      (1,467,953 )      (45,613 )      (66,506 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Current net assets (liabilities)

      532,466       410,844       (267,387 )      (205,365 )      42,464       43,272  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Non-current:

             

Assets

      78,457       98,504       1,368,460       980,653       492,803       462,739  

Liabilities

      (44,068 )      (37,154 )      (546,342 )      (413,026 )      (327,936 )      (306,261 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Current net assets

      34,389       61,350       822,118       567,627       164,867       156,478  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net assets

      566,855       472,194       554,731       362,262       207,331       199,750  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

Summarized income statement    

 

     Viva GyM S.A. and
subsidiaries		     GyM S.A. and
subsidiaries		     Norvial S.A.  
     At December 31,     At December 31,     At December 31,  
     2017     2018     2017     2018     2017     2018  

Revenue

      647,535       630,130       2,163,543       1,704,998       149,467       163,117  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Profit (loss) before income tax

      153,602       226,945       (75,977 )      (154,452 )      68,104       21,104  

Income tax

      (35,900 )      (69,166 )      4,486       18,559       (18,678 )      (3,885 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Profit (loss) for the period

      117,702       157,779       (71,491 )      (135,893 )      49,426       17,219  

Discontinued operations

      —         —         76,837       44,096       —         —    

Other comprehensive Income

      —         —         (2,641 )      (14,061 )      —         —    
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total comprehensive income/loss for the period

      117,702       157,779       2,705       (105,858 )      49,426       17,219  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dividends paid to non-controlling interest Note (36-d)

      21,165       84,870       4,056       4,241       9,240       8,184  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Summarized statement of cash flows

 

     Viva GYM S.A. and
subsidiaries		     GyM S.A. and
subsidiaries		     Norvial S.A.  
     For the year ended     For the year ended     For the year ended  
     2017     2018     2017     2018     2017     2018  

Cash flows from operating activities provided by, net

      163,304       259,992       211,315       148,754       25,041       70,939  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Cash flows from investing activities provided by (applied to), net

      79,471       (8,460 )      72,438       233,150       —         (2 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Cash flows from financing activities applied to, net

      (203,958 )      (255,979 )      (183,092 )      (388,836 )      (48,010 )      (43,536 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Increase (decrease) in cash and cash equivalents, net

      38,817       (4,447 )      100,661       (6,932 )      (22,969 )      27,401  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Cash and cash equivalents at the beginning of the year

      58,892       97,709       78,899       179,560       95,418       72,449  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Cash and cash equivalents at the end of the year

      97,709       93,262       179,560       172,628       72,449       99,850  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 
Summary of Group's Public Services Concessions

The concessions held by the Group are as follows as of December 31, 2018:

 

Name of

Concession

  

Description

  

Estimated

investment

  

Consideration

   Ordinary
shares held		     Concession
termination		    

Accounting
model
Survial S.A.   This company operates and maintains a 750 km road from the San Juan de Marcona port to Urcos, Peru, which is connected to an interoceanic road. The road has five toll stations and three weigh stations.   US$98.9 million   Transaction secured by the Peruvian Government involving from annual payments for the maintenance and operation of the road, which is in charge of the Peruvian Ministry of Transport and Communications (MTC).     99.90%       2032     Financial asset
Canchaque S.A.C.   This company operates and periodically maintains a 78 km road which connects the towns of Buenos Aires and Canchaque, in Peru The road has one toll station.   US$29 million  

Transaction secured by the Peruvian Government regardless the traffic volume.

 

Revenue is secured by an annual minimum amount of US$ 0.3 million.

     99.96%       2025     Financial asset
Concesionaria. La Chira S.A.   Designing, financing, constructing, operating and maintaining project called “Planta de Tratamiento de Aguas Residuales y Emisario Submarino La Chira”. The Project will treat approximately 25% of wastewaters in Lima.   S/250 million   Transaction secured by the Peruvian Government consisting of monthly and quarterly payments settled by Sedapal’s collection trust.     50.00%       2036     Financial asset
GyM Ferrovias S.A.   Concession for the operation of Line 1 of the Lima Metro, Peru’s only urban railway system in Lima city, which includes (i) operation and maintenance of the five existing trains, (ii) operation and maintenance and the acquisition of 19 trains on behalf of the Peruvian Government and (iii) design and construction of the repair yard and maintenance of railway.   S/549.8 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
Norvial S.A.   The Company operates and maintains part of the only highway that connects Lima to the northwest of Peru. This 183 km road known as Red Vial 5 runs from the cities of Ancón to Pativilca and has three toll stations.   US$152 million   From users (self-financed concession; revenue is derived from collection of tolls).     67.00%       2028     Intangible
Via Expresa Sur S.A.  

The Company obtained the concession for designing, financing, building, operating and maintaining the infrastructure associated with the Vía 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$196.8 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 below 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 for one year by agreement between the Concessionaire and the grantor. The suspension was extended for an additional year.     99.98%       2053     Bifurcated
Recaudo Trujillo S.A.C.  

Design, implementation, operation, technological maintenance and renewal (estimate) of the single system of electronic collection.

 

Design, implementation, operation and maintenance of the Clearing house Implementation of the Fleet Control Center, as well as training to personnel.

   US$40.2 million   Economic consideration resulting from applying the “price for validation” considering daily validations input on the system to be managed through a trust.     95.00%       2036     Intangible
Summary of Group's Major Joint Operations

The table below lists the Group’s major Joint Operations.

 

     Percentage of interest  

Joint operations

    2016     2017     2018  

Graña y Montero S.A.A.

       

- Concesionaria la Chira S.A.

      50.00 %      50.00 %      50.00 % 

GyM S.A.

       

- Consorcio Constructor Alto Cayma

      50.00 %      50.00 %      50.00 % 

- Consorcio Alto Cayma

      49.00 %      49.00 %      49.00 % 

- Consorcio Lima Actividades Comerciales

      50.00 %      50.00 %      50.00 % 

- Consorcio Norte Pachacutec

      49.00 %      49.00 %      49.00 % 

- Consorcio La Chira

      50.00 %      50.00 %      50.00 % 

- Consorcio Río Urubamba

      50.00 %      50.00 %      50.00 % 

- Consorcio Vial Quinua

      46.00 %      46.00 %      46.00 % 

- Consorcio Rio Mantaro

      50.00 %      50.00 %      50.00 % 

- Consorcio GyM – CONCIVILES

      66.70 %      66.70 %      66.70 % 

- Consorcio Construcciones y Montajes CCM

      25.00 %      25.00 %      25.00 % 

- Consorcio HV GyM

      50.00 %      50.00 %      50.00 % 

- Consorcio Stracon Motta Engil JV

      50.00 %      50.00 %      —    

- Consorcio Huacho Pativilca

      67.00 %      67.00 %      67.00 % 

- Consorcio Constructor Chavimochic

      26.50 %      26.50 %      26.50 % 

- Consorcio Constructor Ductos del Sur

      29.00 %      29.00 %      29.00 % 

- Consorcio Italo Peruano

      48.00 %      48.00 %      48.00 % 

- Consorcio Menegua

      50.00 %      50.00 %      50.00 % 

- Consorcio Energia y Vapor

      50.00 %      50.00 %      50.00 % 

- Consorcio Ermitaño

      50.00 %      50.00 %      50.00 % 

- Consorcio para la Atención y Mantenimiento de Ductos

      50.00 %      50.00 %      50.00 % 

- Consorcio Lima Actividades Comerciales Sur

      50.00 %      50.00 %      50.00 % 

- Consorcio CDEM

      —         85.00 %      85.00 % 

- Consorcio Chicama - Ascope

      —         50.00 %      50.00 % 

- Consorcio TNT Vial y Vives - DSD Chile LTDA

      —         50.00 %      50.00 % 

- Consorcio La Gloria

      49.00 %      49.00 %      49.00 % 

- Consorcio GyM Sade Skanska

      50.00 %      50.00 %      50.00 % 

- Constructora Incolur DSD Limitada

      50.00 %      50.00 %      50.00 % 

- Consorcio Chiquintirca

      —         40.00 %      40.00 % 

- Consorcio Vial ICAPAL

      —         10.00 %      10.00 % 

GMP S.A.

       

- Consorcio Terminales

      50.00 %      50.00 %      50.00 % 

- Terminales del Peru

      50.00 %      50.00 %      50.00 % 

GMD S.A.

       

- Consorcio Cosapi-Data - GMD S.A.

      70.00 %      —         —    

- Consorcio The Louis Berger Group Inc. - GMD

      66.45 %      —         —    

- Consorcio Procesos Digitales

      43.65 %      —         —    

- Consorcio GMD S.A. - Indra S.A.

      50.00 %      —         —    

- Consorcio Fabrica de Software

      50.00 %      —         —    

- Consorcio Gestion de Procesos Electorales (ONPE)

      50.00 %      —         —    

- Consorcio Lima Actividades Sur

      50.00 %      —         —    

- Consorcio Latino de Actiuvidades Comerciales de Clientes Especiales

      50.00 %      —         —    

- Consorcio Latino de Actividades Comerciales de

      75.00 %      —         —    

- Consorcio Gestion de Procesos Junta de Gobernadores

      45.00 %      —         —    

- Consorcio Soluciones Digitales

      38.00 %      —         —    

- Consorcio de Gestion de la Informacion

      56.00 %      —         —    

- Consorcio de la disponibilidad PKI

      70.00 %      —         —    

CONCAR S.A.

       

- Consorcio Ancón-Pativilca

      67.00 %      67.00 %      67.00 % 

- Consorcio Peruano de Conservación

      50.00 %      50.00 %      50.00 % 

- Consorcio Manperán

      67.00 %      67.00 %      67.00 % 

- Consorcio Vial Sierra

      50.00 %      50.00 %      100.00 % 

- Consorcio Vial Ayahuaylas

      —         99.00 %      99.00 % 

- Consorcio Vial Sullana

      —         99.00 %      99.00 % 

-Consorcio Vial del Sur

      —         99.00 %      99.00 % 

Viva GyM S.A.

       

- Consorcio Panorama

      35.00 %      35.00 %      —    

CAM HOLDING S.p.A

       

- Consorcio Mecam

      50.00 %      50.00 %      —    

- Consorcio Seringel

      50.00 %      50.00 %      —    

GMI S.A.

       

- Consorcio Poyry-GMI

      —         40.00 %      40.00 % 

- Consorcio Internacional Supervisión Valle Sagrado

      —         33.00 %      33.00 % 

- Consorcio Supervisor Ilo

      —         55.00 %      55.00 % 

All of the joint arrangements listed above operate in Peru, Chile, and Colombia.

The table below provides a description of the main activities carried out by these joint operations:

 

Joint Operations in

   

Economic activity
Graña y Montero S.A.A.    Construction, operation and maintenance of La Chira wastewater treatment plant in the south of Lima. The project is aimed to solve Lima’s environmental problems caused by sewage discharged directly into the sea.
GyM S.A.    Theses joint operations are carried out through the four divisions of the engineering and construction segment (Note 7).
GMP S.A.    Consorcio Terminales and Terminales del Peru provide services for receiving, storing, shipping and transporting liquid hydrocarbons, such as gasoline, jet fuel, diesel fuel and residual among others.
CONCAR S.A.    Concar’s joint operations provides rehabilitation service, routine and periodic maintenance of the road; and road conservation and preservation services.