Investments in Associates and Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2019

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Schedule of Amounts Recognised in Balance Sheet

At December 31, this account comprises:

	2018		2019
Associates		250,282		28,875
Joint ventures		7,483		8,160
		257,765		37,035

Schedule of Amounts Recognised in Income Statement

The amounts recognized in the income statement as the value of the equity interest are as follows:

	2018			2019
Associates		(5,308	)		(220,993	)
Joint ventures		1,599			2,219
		(3,709	)		(218,774	)

Summary of Detailed Information about Associates

Set out in the table below are the associates of the Group at December 31, 2018, and 2019 the associates listed below have share capital solely consisting of common shares, which are held directly by the Group. None of the associates are listed companies; therefore, there is no quoted market price available for their shares.

							Carrying amount
	Class		Interest in capital				At December 31,
Entity	of share		2018		2019		2018		2019
			%		%
Gasoducto Sur Peruano S.A. (*)		Common		21.49		21.49		218,276		—
Concesionaria Chavimochic S.A.C.		Common		26.50		26.50		20,524		18,320
Peru Piping Spools S.A.C.		Common		33.33		33.33		5,102		4,166
Obratres S.A.C.		Common		37.50		37.50		3,758		3,756
Inversiones Majes S.A.		Common		9.59		9.59		1,846		2,306
Others								776		327
								250,282		28,875

(*) Mainly corresponds to an write-off of the investment in Gasoducto Sur Peruano S.A. as a whole.

Schedule of Movement of Investments in Associates

The movement of the investments in associates is as follows:

	2017			2018			2019
Opening balance		286,403			250,053			250,282
Contributions received		2,116			5,616			—
Dividends received		(259	)		—			—
Equity interest in results		(5,566	)		(5,308	)		(220,993	)
Decrease in capital		(111	)		(30	)		—
Disposal of investments		(32,223	)		—			—
Impairment of investment		—			—			(374	)
Conversion adjustment		42			(49	)		(40	)
Discontinued Operations		(349	)
Final balance		250,053			250,282			28,875

Summary of Financial Information for Associates

Summarized financial information for associates 

Gaseoducto Sur Peruano S.A. do not have activity in 2018 and 2019.

	Gasoducto Sur Peruano S.A.			Concesionaria Chavimochic S.A.C.
	At December, 31			At December, 31
Entity	2018			2018			2019
	(Liquidation base)
Current
Assets		7,006,473			66,052			55,586
Liabilities		(5,294,214	)		(2,183	)		(1,521	)
Non-current
Assets		—			13,580			16,007
Liabilities		—			—			—
Net assets		1,712,259			77,449			70,072

	Concesionaria Chavimochic S.A.C.
Entity	2018			2019
Administrative expenses		(8,455	)		(11,916	)
Loss of the year before tax		(8,455	)		(11,916	)
Income tax		2,543			3,600
Loss of the year		(5,912	)		(8,316	)
Total comprehensive loss		(5,912	)		(8,316	)

Summary of Detailed Information about Joint Ventures

							Carrying amount
	Class		Interest in capital				At December 31,
Entity	of share		2018		2019		2018		2019
			%		%
Logistica Quimicos del Sur S.A.C.		Common		50.00		50.00		7,230		8,006
Constructora SK-VyV Ltda.		Common		50.00		50.00		34		29
Others				—		—		219		125
								7,483		8,160

Schedule of Movement of Investments in Joint Ventures

Logistica Quimicos del Sur S.A.C. operates the Matarani chemical terminal.

The movement of the investments in joint ventures was as follows:

	2017			2018			2019
Opening balance		103,356			18,618			7,483
Equity interest in results		6,039			1,599			2,219
Disposal of Investment		(88,556	)		(10,112	)		—
Dividends received		(3,758	)		(1,823	)		(1,517	)
Conversion adjustment		334			79			(14	)
Impairment of investment		—			(878	)		(11	)
Discontinued Operations		1,203			—			—
Final balance		18,618			7,483			8,160

Summary of Financial Information for Joint Ventures

The following table shows the financial information of the principal joint ventures:

Summarized financial information for joint ventures

	At December, 31
Logistica Quimicos del Sur S.A.C.	2018			2019
Current
Cash and cash equivalents		1,520			2,131
Other current assets		1,549			2,416
Total current assets		3,069			4,547
Other current liabilities		(3,513	)		(4,381	)
Total current liabilities		(3,513	)		(4,381	)
Non-current
Total non-current assets		37,349			37,620
Total non-current liabilities		(22,445	)		(21,773	)
Net assets		14,460			16,013
Revenue		11,399			12,622
Depreciation and amortization		(2,313	)		(2,505	)
Interest expense		(668	)		(644	)
Profit from continuing operations		4,698			6,500
Income tax expense		(1,482	)		(1,913	)
Profit from continuing operations after income tax		3,216			4,587
Other comprehensive income		—			—
Total comprehensive income		3,216			4,587