Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2019

Text block [abstract]

Disclosure of Profit before Income Tax Reconciles to EBITDA

Profit before income tax reconciles to EBITDA as follows:

EBITDA

	2017		2018		2019
Net profit (loss)		209,238		57,415		(838,642	)
Financial income and expenses		137,035		197,057		157,053
Income tax		46,305		113,318		319,957
Depreciation and amortization		179,725		189,509		202,630
EBITDA (*)		572,303		557,299		(159,002	)

(*)  Discontinued operations not included    

Disclosure of Detailed Information About EBITDA for Each Segment

EBITDA for each segment is as follows:

	2017			2018			2019
Engineering and construction		119,987			19,243			2,885
Infrastructure		300,935			411,502			355,296
Real estate		177,286			240,991			76,239
Parent company operations		125,938			(27,803	)		(1,077,259	)
Intercompany eliminations		(151,843	)		(86,634	)		483,837
EBITDA		572,303			557,299			(159,002	)

Summary of Breakdown by Operating Segments

Backlog refers to the expected future revenue undersigned contracts and legally binding letters of intent. The breakdown by operating segments as of December 31, 2019, and the dates in which they are estimated to be realized is shown in the following table:

	As of December 31, 2019
Engineering and Construction		3,018,822
Infrastructure		1,837,305
Real estate		209,893
Intercompany eliminations		(434,039	)
		4,631,981

Disclosure of Detailed Information About Operating Segments Financial Position and Profit (Loss)

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

Operating segments financial position

Segment reporting

			Infrastructure
	Engineering and construction		Energy		Toll roads		Transportation		Water treatment		Real estate		Parent Company operations		Eliminations			Consolidated
As of December 31, 2018
Assets.-
Cash and cash equivalent		177,455		34,816		168,460		191,178		6,700		93,262		129,269		—			801,140
Trade accounts receivables, net		583,842		54,350		78,013		226,919		598		63,038		1,068		—			1,007,828
Work in progress, net		24,962		—		—		—		—		—		3,576		—			28,538
Accounts receivable from related parties		203,583		492		40,820		758		9,930		60,759		98,308		(379,747	)		34,903
Other accounts receivable		386,467		37,611		28,492		31,012		199		55,508		49,160		2			588,451
Inventories, net		27,852		18,823		9,206		25,282		—		448,328		—		(15,444	)		514,047
Prepaid expenses		3,825		1,345		3,068		874		135		81		1,221		—			10,549
		1,407,986		147,437		328,059		476,023		17,562		720,976		282,602		(395,189	)		2,985,456
Non-current assets classified as held for sale		—		—		—		—		—		—		247,798		—			247,798
Total current assets		1,407,986		147,437		328,059		476,023		17,562		720,976		530,400		(395,189	)		3,233,254
Long-term trade accounts receivable, net		14,455		—		33,380		966,202		—		6,030		—		—			1,020,067
Long-term work in progress, net		—		—		32,212		—		—		—		—		—			32,212
Long-term accounts receivable from related parties		254,660		—		39,341		—		—		—		744,655		(260,430	)		778,226
Prepaid expenses		—		—		28,214		5,152		840		—		—		(509	)		33,697
Other long-term accounts receivable		77,028		63,797		7,058		64,817		7,346		30,268		52,645		(2	)		302,957
Investments in associates and joint ventures		114,676		7,230		—		—		—		5,604		2,213,023		(2,082,768	)		257,765
Investment property		—		—		—		—		—		29,133		—		—			29,133
Property, plant and equipment, net		205,678		171,430		14,585		1,586		109		9,237		69,088		(1,159	)		470,554
Intangible assets, net		160,088		183,614		466,153		749		—		1,105		23,514		11,872			847,095
Deferred income tax asset		166,624		5,025		11,876		—		620		17,127		218,201		5,963			425,436
Total non-current assets		993,209		431,096		632,819		1,038,506		8,915		98,504		3,321,126		(2,327,033	)		4,197,142
Total assets		2,401,195		578,533		960,878		1,514,529		26,477		819,480		3,851,526		(2,722,222	)		7,430,396
Liabilities.-
Borrowings		232,409		26,621		15,384		209,463		—		133,105		209,492		—			826,474
Bonds		—		—		25,745		13,422		—		—		—		—			39,167
Trade accounts payable		777,130		49,254		61,233		104,652		121		31,173		55,968		—			1,079,531
Accounts payable to related parties		179,351		1,933		46,099		65,256		58		35,085		91,754		(363,595	)		55,941
Current income tax		5,898		2,797		1,398		9,888		226		4,219		1,381		—			25,807
Other accounts payable		389,896		13,147		72,823		11,677		631		106,286		38,209		—			632,669
Provisions		521		5,412		—		—		—		264		—		—			6,197
Non-current liabilities classified as held for sale		—		—		—		—		—		—		225,828		—			225,828
Total current liabilities		1,585,205		99,164		222,682		414,358		1,036		310,132		622,632		(363,595	)		2,891,614
Borrowings		9,314		87,166		556		—		—		10,684		268,478		—			376,198
Long-term bonds		—		—		299,637		598,238		—		—		—		—			897,875
Other long-term accounts payable		357,146		—		31,477		154,756		1,656		26,470		2,605		—			574,110
Long-term accounts payable to related parties		8,880		—		1,167		81,207		23,445		—		183,826		(276,676	)		21,849
Provisions		32,122		20,234		—		—		—		—		51,055		—			103,411
Derivative financial instruments		—		61		—		—		—		—		—		—			61
Deferred income tax liability		5,564		24,541		7,010		37,178		—		—		1,054		—			75,347
Total non-current liabilities		413,026		132,002		339,847		871,379		25,101		37,154		507,018		(276,676	)		2,048,851
Total liabilities		1,998,231		231,166		562,529		1,285,737		26,137		347,286		1,129,650		(640,271	)		4,940,465
Equity attributable to controlling interest in the Company		331,178		323,943		332,406		171,594		340		193,483		2,708,803		(1,973,387	)		2,088,360
Non-controlling interest		71,786		23,424		65,943		57,198		—		278,711		13,073		(108,564	)		401,571
Total liabilities and equity		2,401,195		578,533		960,878		1,514,529		26,477		819,480		3,851,526		(2,722,222	)		7,430,396
As of December 31, 2019
Assets.-
Cash and cash equivalent		372,991		53,118		123,020		300,896		6,388		60,718		31,847		—			948,978
Trade accounts receivables, net		531,591		63,402		44,513		97,059		1,168		83,019		985		—			821,737
Work in progress, net		49,457		—		—		—		—		—		—		—			49,457
Accounts receivable from related parties		202,181		369		43,852		1,853		—		1,144		99,794		(312,535	)		36,658
Other accounts receivable		327,977		30,853		30,228		18,548		109		9,509		27,274		2			444,500
Inventories, net		57,093		32,366		7,109		30,594		—		437,012		—		(11,601	)		552,573
Prepaid expenses		6,812		1,271		2,779		231		133		—		122		—			11,348
		1,548,102		181,379		251,501		449,181		7,798		591,402		160,022		(324,134	)		2,865,251
Non-current assets classified as held for sale		2,398		—		—		—		—		—		203,020		—			205,418
Total current assets		1,550,500		181,379		251,501		449,181		7,798		591,402		363,042		(324,134	)		3,070,669
Long-term trade accounts receivable, net		97,256		—		36,273		619,086		—		587		—		—			753,202
Long-term work in progress, net		—		—		23,117		—		—		—		—		—			23,117
Long-term accounts receivable from related parties		290,966		—		836		—		10,475		—		552,687		(308,023	)		546,941
Prepaid expenses		—		887		24,462		2,307		788		—		—		(510	)		27,934
Other long-term accounts receivable		113,879		63,649		5,156		—		7,346		50,449		59,844		—			300,323
Investments in associates and joint ventures		109,839		8,006		—		—		—		6,062		1,495,422		(1,582,294	)		37,035
Investment property		1,450		—		—		—		—		26,876		—		—			28,326
Property, plant and equipment, net		186,589		184,819		11,106		841		153		11,742		49,779		(1,159	)		443,870
Intangible assets, net		136,547		244,901		443,420		794		—		1,029		19,490		7,134			853,315
Right-of-use assets, net		5,638		24,038		3,860		5		7		5,048		55,532		(15,315	)		78,813
Deferred income tax asset		176,740		4,741		13,054		—		720		19,736		20,752		5,176			240,919
Total non-current assets		1,118,904		531,041		561,284		623,033		19,489		121,529		2,253,506		(1,894,991	)		3,333,795
Total assets		2,669,404		712,420		812,785		1,072,214		27,287		712,931		2,616,548		(2,219,125	)		6,404,464
Liabilities.-
Borrowings		180,535		42,760		2,383		5		6		116,231		121,379		(9,039	)		454,260
Bonds		—		—		28,995		15,742		—		—		—		—			44,737
Trade accounts payable		932,142		67,444		34,762		28,508		132		39,645		33,488		—			1,136,121
Accounts payable to related parties		206,907		2,233		35,554		21,024		—		23,437		58,951		(309,190	)		38,916
Current income tax		18,451		961		3,710		23,887		—		704		286		—			47,999
Other accounts payable		441,271		16,721		53,987		4,713		835		83,345		34,433		—			635,305
Provisions		6,031		18,459		6,183		—		—		230		82,580		—			113,483
Non-current liabilities classified as held for sale		—		—		—		—		—		—		210,025		—			210,025
Total current liabilities		1,785,337		148,578		165,574		93,879		973		263,592		541,142		(318,229	)		2,680,846
Borrowings		32,620		116,218		2,070		—		—		11,010		190,671		(7,783	)		344,806
Long-term bonds		—		—		276,550		602,755		—		—		—		—			879,305
Other long-term accounts payable		222,887		—		15,989		2,176		2,106		26,841		3,102		—			273,101
Long-term accounts payable to related parties		120,255		—		836		22,583		23,784		—		165,286		(310,161	)		22,583
Provisions		80,125		40,268		24,691		1,394		—		—		68,474		—			214,952
Derivative financial instruments		—		52		—		—		—		—		—		—			52
Deferred income tax liability		31,037		36,476		5,806		39,172		—		—		243		—			112,734
Total non-current liabilities		486,924		193,014		325,942		668,080		25,890		37,851		427,776		(317,944	)		1,847,533
Total liabilities		2,272,261		341,592		491,516		761,959		26,863		301,443		968,918		(636,173	)		4,528,379
Equity attributable to controlling interest in the Company		330,992		346,415		258,223		232,692		424		137,542		1,644,707		(1,473,185	)		1,477,810
Non-controlling interest		66,151		24,413		63,046		77,563		—		273,946		2,923		(109,767	)		398,275
Total liabilities and equity		2,669,404		712,420		812,785		1,072,214		27,287		712,931		2,616,548		(2,219,125	)		6,404,464

Operating segment performance

Segment Reporting

				Infrastructure
	Engineering																		Parent
	and												Water			Real			Company
	construction			Energy			Toll roads			Transportation			treatment			estate			operations			Eliminations			Consolidated
For the year ended December 31, 2017 -
Revenue		2,331,907			436,876			642,127			365,771			3,152			647,535			70,050			(483,405	)		4,014,013
Gross profit (loss)		176,473			71,825			139,196			48,696			445			147,383			(37,771	)		(43,795	)		502,452
Administrative expenses		(188,162	)		(15,854	)		(32,453	)		(15,279	)		(317	)		(21,189	)		(100,968	)		51,768			(322,454	)
Other income and expenses, net		(46,445	)		5,138			1,061			5			—			(3,700	)		10,512			560			(32,869	)
Gain from the sale of investments		—			—			—			—			—			49,002			(18,672	)		4,215			34,545
Operating (loss) profit		(58,134	)		61,109			107,804			33,422			128			171,496			(146,899	)		12,748			181,674
Financial expenses		(46,655	)		(13,423	)		(6,892	)		(8,000	)		(50	)		(21,918	)		(81,310	)		27,471			(150,777	)
Financial income		8,491			1,965			3,257			3,606			26			3,569			35,431			(42,603	)		13,742
Share of profit or loss in associates and joint ventures		30,982			1,584			—			—			—			456			142,595			(175,144	)		473
(Loss) profit before income tax		(65,316	)		51,235			104,169			29,028			104			153,603			(50,183	)		(177,528	)		45,112
Income tax		877			(13,151	)		(32,290	)		(9,544	)		(228	)		(35,900	)		44,032			(101	)		(46,305	)
(Loss) profit from continuing operations		(64,439	)		38,084			71,879			19,484			(124	)		117,703			(6,151	)		(177,629	)		(1,193	)
Profit (Loss) from discontinuing operations		76,837			—			—			—			—			—			123,603			9,991			210,431
(Loss) profit for the year		12,398			38,084			71,879			19,484			(124	)		117,703			117,452			(167,638	)		209,238
(Loss) profit from attributable to:
Owners of the Company		12,078			33,714			55,620			14,613			(124	)		48,647			125,182			(140,992	)		148,738
Non-controlling interest		320			4,370			16,259			4,871			—			69,056			(7,730	)		(26,646	)		60,500
		12,398			38,084			71,879			19,484			(124	)		117,703			117,452			(167,638	)		209,238
For the year ended December 31, 2018 -
Revenue		1,960,863			560,506			733,148			586,329			3,270			630,130			62,098			(636,882	)		3,899,462
Gross profit (loss)		62,095			120,360			107,092			122,567			592			287,959			(10,564	)		(15,612	)		674,489
Administrative expenses		(136,066	)		(20,898	)		(35,626	)		(12,007	)		(296	)		(50,730	)		(62,890	)		40,080			(278,433	)
Other income and expenses, net		(13,515	)		1,243			(11	)		31			—			(1,971	)		(47,779	)		660			(61,342	)
Operating (loss) profit		(87,486	)		100,705			71,455			110,591			296			235,258			(121,233	)		25,128			334,714
Financial expenses		(82,861	)		(15,631	)		(26,691	)		(20,604	)		6			(11,859	)		(115,077	)		24,735			(247,982	)
Financial income		15,122			4,593			2,560			35,147			554			3,556			31,752			(42,359	)		50,925
Share of profit or loss in associates and joint ventures		11,366			1,608			—			—			—			(10	)		84,138			(100,811	)		(3,709	)
(Loss) profit before income tax		(143,859	)		91,275			47,324			125,134			856			226,945			(112,076	)		(101,651	)		133,948
Income tax		14,361			(26,275	)		(15,737	)		(38,017	)		(517	)		(69,166	)		22,867			(834	)		(113,318	)
(Loss) profit from continuing operations		(129,498	)		65,000			31,587			87,117			339			157,779			(89,209	)		(102,485	)		20,630
Profit (Loss) from discontinuing operations		44,096			—			—			—			—			—			(3,709	)		(3,602	)		36,785
(Loss) profit for the year		(85,402	)		65,000			31,587			87,117			339			157,779			(92,918	)		(106,087	)		57,415
(Loss) profit from attributable to:
Owners of the Company		(86,857	)		59,866			26,731			65,338			339			28,921			(85,715	)		(91,811	)		(83,188	)
Non-controlling interest		1,455			5,134			4,856			21,779			—			128,858			(7,203	)		(14,276	)		140,603
		(85,402	)		65,000			31,587			87,117			339			157,779			(92,918	)		(106,087	)		57,415
For the year ended December 31, 2019 -
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	)
Gain from sale of investments		—			—			—			—			—			—			—			—			—
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		5,643			2,033			2,245			33,215			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		(105,208	)		75,727			(5,509	)		121,079			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		(140,665	)		52,816			(22,621	)		81,445			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		(140,665	)		52,816			(22,621	)		81,445			423			23,729			(1,314,751	)		480,982			(838,642	)
(Loss) profit from attributable to:
Owners of the Company		(137,110	)		48,056			(28,270	)		61,084			423			(4,995	)		(1,304,675	)		480,766			(884,721	)
Non-controlling interest		(3,555	)		4,760			5,649			20,361			—			28,724			(10,076	)		216			46,079
		(140,665	)		52,816			(22,621	)		81,445			423			23,729			(1,314,751	)		480,982			(838,642	)

Disclosure of Geographical Areas

Segments by geographical area

	2017		2018		2019
Revenues:
- Peru		3,589,048		3,347,540		3,454,959
- Chile		371,986		226,891		388,284
- Colombia		50,829		325,031		241,761
- Bolivia		2,150		—		—
		4,014,013		3,899,462		4,085,004
Non-current assets:
- Peru		4,164,342		3,896,920		3,063,146
- Chile		407,152		142,383		146,891
- Colombia		203,203		157,839		123,758
- Bolivia		149		—		—
- Guyana		878		—		—
		4,775,724		4,197,142		3,333,795