Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2020

Text block [abstract]

Disclosure of Profit before Income Tax Reconciles to EBITDA

EBITDA is reconciled to operating income (loss) before income taxes as follows:

	2018		2019			2020
Net profit (loss)		57,415		(838,642	)		(190,344	)
Financial income and expenses		209,232		178,787			117,523
Income tax		110,993		303,371			58,444
Depreciation and amortization		206,520		219,817			197,125
Initial EBITDA		584,160		(136,667	)		182,748
Extraordinary adjustments to EBITDA
Impairment of investments		—		261,924			—
Impairment of accounts receivables		—		332,862			102,148
Impairment of goodwill		—		33,089			—
Provisions: civil compensation and legal claims		73,499		127,147			89,084
Provisions for labor claims		—		—			7,434
Impairment recovery		—		(40,094	)		—
Adjusted EBITDA		657,659		578,261			381,414

Disclosure of Detailed Information About EBITDA for Each Segment

EBITDA for each segment is as follows:

	2018			2019			2020
Engineering and construction		44,003			51,147			55,766
Infrastructure		409,626			403,554			290,335
Real estate		240,991			56,821			32,555
Parent company operations		49,671			(417,954	)		(93,931	)
Intercompany eliminations		(86,632	)		484,693			96,689
EBITDA		657,658			578,261			381,414

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, 2020, and the dates in which they are estimated to be realized is shown in the following table:

				Annual Backlog
	2020			2021			2022			2023+
Engineering and Construction		3,091,072			2,588,137			502,935			—
Infrastructure		1,784,582			601,020			597,520			586,042
Real estate		218,598			194,654			23,944			—
Parent company operations		166,324			97,808			45,702			22,814
Intercompany eliminations		(440,152	)		(145,950	)		(146,968	)		(147,235	)
		4,820,424			3,335,670			1,023,134			461,621

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

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

Operating segments financial position

Segment reporting

			Infrastructure
As of December 31, 2019	Engineering and construction		Energy		Toll roads		Transportation		Water treatment		Real estate		Parent Company operations		Eliminations			Consolidated
Assets.-
Cash and cash equivalent		372,991		53,118		123,020		300,896		6,388		60,718		33,570		—			950,701
Trade accounts receivables, net		531,591		63,402		44,513		97,059		1,168		83,019		93,452		—			914,204
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		37,248		2			454,474
Inventories, net		57,093		32,366		7,109		30,594		—		437,012		2,828		(11,601	)		555,401
Prepaid expenses		6,812		1,271		2,779		231		133		—		5,252		—			16,478
		1,548,102		181,379		251,501		449,181		7,798		591,402		272,144		(324,134	)		2,977,373
Non-current assets classified as held for sale		2,398		—		—		—		—		—		—		—			2,398
Total current assets		1,550,500		181,379		251,501		449,181		7,798		591,402		272,144		(324,134	)		2,979,771
Long-term trade accounts receivable, net		97,256		—		36,273		619,086		—		587		26,407		—			779,609
Long-term work in progress, net		—		—		23,117		—		—		—		—		—			23,117
Long-term accounts receivable from related parties		318,748		—		836		—		10,475		—		552,687		(308,023	)		574,723
Prepaid expenses		—		887		24,462		2,307		788		—		—		(510	)		27,934
Other long-term accounts receivable		86,097		63,649		5,156		—		7,346		50,449		60,735		—			273,432
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		69,899		(1,159	)		463,990
Intangible assets, net		136,547		244,901		443,420		794		—		1,029		20,402		7,134			854,227
Right-of-use assets, net		5,638		24,038		3,860		5		7		5,048		67,300		(15,315	)		90,581
Deferred income tax asset		176,740		4,741		13,054		—		720		19,736		51,552		5,176			271,719
Total non-current assets		1,118,904		531,041		561,284		623,033		19,489		121,529		2,344,404		(1,894,991	)		3,424,693
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		148,648		(9,039	)		481,529
Bonds		—		—		28,995		15,742		—		—		—		—			44,737
Trade accounts payable		932,142		67,444		34,762		28,508		132		39,645		56,442		—			1,159,075
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		3,456		—			51,169
Other accounts payable		441,271		16,721		53,987		4,713		835		83,345		68,802		—			669,674
Provisions		6,031		18,459		6,183		—		—		230		82,580		—			113,483
Total current liabilities		1,785,337		148,578		165,574		93,879		973		263,592		418,879		(318,229	)		2,558,583
Borrowings		32,620		116,218		2,070		—		—		11,010		254,931		(7,783	)		409,066
Long-term bonds		—		—		276,550		602,755		—		—		—		—			879,305
Long-term trade accounts payable		—		—		—		—		—		—		34,814		—			34,814
Other long-term accounts payable		222,887		—		15,989		2,176		2,106		26,841		26,291		—			296,290
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		550,039		(317,944	)		1,969,796
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 segments financial position Segment reporting
			Infrastructure
As of December 31, 2020	Engineering and construction		Energy		Toll roads		Transportation		Water treatment		Real estate		Parent Company operations		Eliminations			Consolidated
Assets.-
Cash and cash equivalent		382,850		60,165		117,893		207,975		7,408		73,531		50,346		—			900,168
Trade accounts receivables, net		425,939		37,614		25,014		111,602		565		38,043		64,390		—			703,167
Work in progress, net		186,433		—		—		—		—		—		—		—			186,433
Accounts receivable from related parties		107,495		35		31,868		2,624		30		1,342		102,103		(218,159	)		27,338
Other accounts receivable		323,084		27,900		23,631		13,220		197		10,446		35,051		2			433,531
Inventories, net		58,653		36,016		8,496		31,861		—		418,341		360		(1,727	)		552,000
Prepaid expenses		7,798		1,964		6,485		328		116		—		6,281		—			22,972
Total current assets		1,492,252		163,694		213,387		367,610		8,316		541,703		258,531		(219,884	)		2,825,609
Long-term trade accounts receivable, net		53,036		—		15,740		632,214		—		2,181		27,495		—			730,666
Long-term accounts receivable from related parties		315,393		—		14,508		—		11,103		—		611,498		(332,431	)		620,071
Prepaid expenses		—		981		19,009		2,048		736		—		—		(510	)		22,264
Other long-term accounts receivable		134,719		70,694		531		—		7,346		54,237		60,696		—			328,223
Investments in associates and joint ventures		109,870		8,080		—		—		—		6,095		1,322,865		(1,411,394	)		35,516
Investment property		1,467		—		—		—		—		24,606		44,521		(44,521	)		26,073
Property, plant and equipment, net		169,091		166,382		9,186		794		146		9,592		16,718		33,560			405,469
Intangible assets, net		143,575		250,327		371,437		681		—		872		19,017		6,081			791,990
Right-of-use assets, net		8,179		9,872		4,626		99		—		3,936		51,401		(13,595	)		64,518
Deferred income tax asset		174,269		4,717		5,037		—		779		18,704		53,536		5,123			262,165
Total non-current assets		1,109,599		511,053		440,074		635,836		20,110		120,223		2,207,747		(1,757,687	)		3,286,955
Total assets		2,601,851		674,747		653,461		1,003,446		28,426		661,926		2,466,278		(1,977,571	)		6,112,564
Liabilities.-
Borrowings		230,682		32,550		2,405		42		—		95,709		102,469		(10,973	)		452,884
Bonds		4,546		—		32,819		21,081		—		—		—		—			58,446
Trade accounts payable		861,833		51,225		51,221		32,637		61		42,565		57,625		—			1,097,167
Accounts payable to related parties		185,104		1,083		17,738		21,531		—		19,074		15,708		(216,420	)		43,818
Current income tax		26,922		1,351		1,638		3,606		166		—		811		—			34,494
Other accounts payable		525,195		12,905		35,997		6,719		766		91,976		40,252		4,596			718,406
Provisions		8,876		18,943		1,659		—		—		492		62,787		—			92,757
Total current liabilities		1,843,158		118,057		143,477		85,616		993		249,816		279,652		(222,797	)		2,497,972
Borrowings		25,273		103,154		2,291		59		—		11,021		328,753		(25,115	)		445,436
Long-term bonds		22,911		—		248,029		603,373		—		—		—		—			874,313
Long-term trade accounts payable		—		—		—		—		—		—		40,502		—			40,502
Other long-term accounts payable		140,605		—		11,623		231		2,762		23,357		4,654		—			183,232
Long-term accounts payable to related parties		104,432		—		836		36,297		24,207		—		186,886		(316,361	)		36,297
Provisions		122,503		37,599		26,034		1,925		—		—		148,548		—			336,609
Deferred income tax liability		25,576		36,793		1,518		39,020		—		—		—		—			102,907
Total non-current liabilities		441,300		177,546		290,331		680,905		26,969		34,378		709,343		(341,476	)		2,019,296
Total liabilities		2,284,458		295,603		433,808		766,521		27,962		284,194		988,995		(564,273	)		4,517,268
Equity attributable to controlling interest in the Company		261,501		354,982		161,710		177,694		464		138,933		1,474,398		(1,302,076	)		1,267,606
Non-controlling interest		55,892		24,162		57,943		59,231		—		238,799		2,885		(111,222	)		327,690
Total liabilities and equity		2,601,851		674,747		653,461		1,003,446		28,426		661,926		2,466,278		(1,977,571	)		6,112,564

Operating segment performance

Segment Reporting

				Infrastructure
For the year ended December 31, 2018	Engineering and construction			Energy			Toll roads			Transportation			Water treatment			Real estate			Parent Company operations			Elimination			Consolidated
Revenue		1,960,863			560,506			733,148			586,329			3,270			630,130			367,600			(639,448	)		4,202,398
Gross profit (loss)		62,095			120,360			107,092			122,567			592			287,959			29,251			(15,946	)		713,970
Administrative expenses		(136,066	)		(20,898	)		(35,626	)		(12,007	)		(296	)		(50,730	)		(95,653	)		40,113			(311,163	)
Other income and expenses, net		(13,508	)		1,243			(11	)		31			—			(1,971	)		(52,298	)		660			(65,854	)
Loss from the sale of investments		(7	)		—			—			—			—			—			—			—			(7	)
Operating (loss) profit		(87,486	)		100,705			71,455			110,591			296			235,258			(118,700	)		24,827			336,946
Financial expenses		(82,861	)		(15,631	)		(26,691	)		(20,604	)		6			(11,859	)		(127,863	)		24,735			(260,768	)
Financial income		15,122			4,593			2,560			35,147			554			3,556			32,363			(42,359	)		51,536
Dividends		—			—			—			—			—			—			8,344			(8,344	)		—
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			(121,718	)		(101,952	)		124,005
Income tax		14,361			(26,275	)		(15,737	)		(38,017	)		(517	)		(69,166	)		25,192			(834	)		(110,993	)
(Loss) profit from continuing operations		(129,498	)		65,000			31,587			87,117			339			157,779			(96,526	)		(102,786	)		13,012
Profit (Loss) from discontinuing operations		44,096			—			—			—			—			—			3,608			(3,301	)		44,403
(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			26,732			65,338			339			28,921			(85,716	)		(91,811	)		(83,188	)
Non-controlling interest		1,455			5,134			4,855			21,779			—			128,858			(7,202	)		(14,276	)		140,603
		(85,402	)		65,000			31,587			87,117			339			157,779			(92,918	)		(106,087	)		57,415

Operating segment performance

Segment Reporting

				Infrastructure
For the year ended December 31, 2019	Engineering and construction			Energy			Toll roads			Transportation			Water treatment			Real estate			Parent Company operations			Elimination			Consolidated
Revenue		2,797,326			552,584			633,301			397,853			3,555			264,401			342,608			(653,767	)		4,337,861
Gross profit (loss)		98,362			108,291			96,164			119,464			500			70,787			6,584			(49,715	)		450,437
Administrative expenses		(141,421	)		(24,230	)		(28,623	)		(17,991	)		(397	)		(22,045	)		(75,146	)		61,201			(248,652	)
Other income and expenses, net		9,937			606			(47,998	)		(2,661	)		12			20,020			(318,489	)		(921	)		(339,494	)
Operating (loss) profit		(33,122	)		84,667			19,543			98,812			115			68,762			(387,051	)		10,565			(137,709	)
Financial expenses		(74,171	)		(13,266	)		(27,297	)		(10,948	)		(12	)		(42,320	)		(123,339	)		38,219			(253,134	)
Financial income		5,644			2,033			2,245			33,214			826			3,829			74,546			(47,991	)		74,346
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		(105,207	)		75,727			(5,509	)		121,078			929			30,729			(1,135,118	)		482,100			(535,271	)
Income tax		(35,457	)		(22,911	)		(17,112	)		(39,634	)		(506	)		(7,000	)		(179,633	)		(1,118	)		(303,371	)
(Loss) profit for the year		(140,664	)		52,816			(22,621	)		81,444			423			23,729			(1,314,751	)		480,982			(838,642	)
(Loss) profit from attributable to:
Owners of the Company		(137,109	)		48,056			(28,270	)		61,084			423			(4,995	)		(1,304,676	)		480,766			(884,721	)
Non-controlling interest		(3,555	)		4,760			5,649			20,360			—			28,724			(10,075	)		216			46,079
		(140,664	)		52,816			(22,621	)		81,444			423			23,729			(1,314,751	)		480,982			(838,642	)

Operating segment performance

Segment Reporting

				Infrastructure
For the year ended December 31, 2020	Engineering and construction			Energy			Toll roads			Transportation			Water treatment			Real estate			Parent Company operations			Elimination			Consolidated
Revenue		2,092,592			369,798			466,824			345,258			3,359			182,439			240,799			(387,040	)		3,314,029
Gross profit (loss)		115,995			53,251			40,858			107,918			366			40,345			8,134			(46,259	)		320,608
Administrative expenses		(102,985	)		(16,119	)		(16,584	)		(12,738	)		(289	)		(16,462	)		(42,543	)		54,811			(152,909	)
Other income and expenses, net		(43,573	)		(4,185	)		(79,576	)		72			42			1,962			(57,648	)		60			(182,846	)
Operating profit (loss)		(30,563	)		32,947			(55,302	)		95,252			119			25,845			(92,057	)		8,612			(15,147	)
Financial expenses		(54,173	)		(17,525	)		(32,376	)		(9,316	)		(275	)		(12,647	)		(59,076	)		28,445			(156,943	)
Financial income		8,792			2,239			4,326			1,586			897			4,584			47,506			(30,510	)		39,420
Dividends		—			—			—			—			—			—			7,222			(7,222	)		—
Share of profit or loss in associates and joint ventures		—			2,391			—			—			—			34			(105,888	)		104,233			770
(Loss) profit before income tax		(75,944	)		20,052			(83,352	)		87,522			741			17,816			(202,293	)		103,558			(131,900	)
Income tax		(3,614	)		(7,500	)		(13,477	)		(26,681	)		(277	)		(2,854	)		(4,004	)		(37	)		(58,444	)
(Loss) profit for the year		(79,558	)		12,552			(96,829	)		60,841			464			14,962			(206,297	)		103,521			(190,344	)
(Loss) profit from attributable to:
Owners of the Company		(76,580	)		9,176			(88,865	)		45,631			464			1,391			(206,257	)		97,169			(217,871	)
Non-controlling interest		(2,978	)		3,376			(7,964	)		15,210			—			13,571			(40	)		6,352			27,527
		(79,558	)		12,552			(96,829	)		60,841			464			14,962			(206,297	)		103,521			(190,344	)

Disclosure of Geographical Areas

Segments by geographical area

	2018		2019		2020
Revenues:
- Peru		3,348,824		3,496,799		2,517,928
- Chile		528,543		599,301		642,038
- Colombia		325,031		241,761		151,876
- Mexico				—		2,187
		4,202,398		4,337,861		3,314,029
Non-current assets:
- Peru		4,009,849		3,065,132		2,933,742
- Chile		142,819		235,803		245,727
- Colombia		157,839		123,758		107,486
		4,310,507		3,424,693		3,286,955