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Investments in Associates and Joint Ventures (Tables)
 12 Months Ended
Dec. 31, 2020
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Schedule of Amounts Recognised in Balance Sheet
As of December 31, this account comprises:
 
 
  
2019
 
  
2020
 
Associates
  
 
28,875
 
  
 
27,246
 
Joint ventures
  
 
8,160
 
  
 
8,270
 
 
  
 
 
 
  
 
 
 
 
  
 
37,035
 
  
 
35,516
 
 
  
 
 
 
  
 
 
 
Schedule of Amounts Recognised in Income Statement
The amounts recognized in the income statement as the value of the equity interest are as follows:
 
 
  
2019
 
  
2020
 
Associates
  
 
(220,993
) 
  
 
(1,635
) 
Joint ventures
  
 
2,219
 
  
 
2,405
 
 
  
 
 
 
  
 
 
 
 
  
 
(218,774
) 
  
 
770
 
 
  
 
 
 
  
 
 
 
Summary of Detailed Information about Associates
Set out in the table below are the associates of the Corporation as of December 31, 2019 and 2020 the associates listed below have share capital solely consisting of common shares, which are held directly by the Corporation. None of the associates are listed companies; therefore, there is no quoted market price available for their shares.
 
 
  
 
 
  
 
 
  
 
 
  
Carrying amount
 
 
  
 
 
  
Interest in capital
 
  
At December 31,
 
Entity
  
Class

of share
 
  
2019
 
  
2020
 
  
2019
 
  
2020
 
 
  
 
 
  
%
 
  
%
 
  
 
 
  
 
 
Gasoducto del Peru S.A. ( * )
  
 
Common
 
  
 
—  
 
  
 
—  
 
  
 
—  
 
  
 
—  
 
Concesionaria Chavimochic S.A.C.
  
 
Common
 
  
 
26.50
 
  
 
26.50
 
  
 
18,320
 
  
 
18,058
 
Peru Piping Spools S.A.C.
  
 
Common
 
  
 
33.33
 
  
 
33.33
 
  
 
4,166
 
  
 
2,760
 
Obratres S.A.C.
  
 
Common
 
  
 
37.50
 
  
 
37.50
 
  
 
3,756
 
  
 
3,812
 
Inversiones Maje S.A.C.
  
 
Common
 
  
 
9.59
 
  
 
9.59
 
  
 
2,306
 
  
 
2,283
 
Otros
  
 
Common
 
  
   
  
   
  
 
327
 
  
 
333
 
 
  
   
  
   
  
   
  
 
 
 
  
 
 
 
 
  
   
  
   
  
   
  
 
28,875
 
  
 
27,246
 
 
  
   
  
   
  
   
  
 
 
 
  
 
 
 
Schedule of Movement of Investments in Associates
The movement of the investments in associates is as follows:
 
 
  
2018
 
  
2019
 
  
2020
 
Opening balance
  
 
250,053
 
  
 
250,282
 
  
 
28,875
 
Contributions received
  
 
5,616
 
  
 
—  
 
  
 
—  
 
Equity interest in results
  
 
(5,308)
 
  
 
(220,993)
 
  
 
(1,635)
 
Decrease in capital
  
 
(30)
 
  
 
—  
 
  
 
—  
 
Impairment of investment
  
 
—  
 
  
 
(374)
 
  
 
(38)
 
Conversion adjustment
  
 
(49)
 
  
 
(40)
 
  
 
44
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Final balance
  
 
250,282
 
  
 
28,875
 
  
 
27,246
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Summary of Financial Information for Associates
The following table shows the financial information of the principal associates:
Summarized financial information for associates –
 
 
  
Concesionaria
Chavimochic S.A.C.
 
 
  
At December, 31
 
Entity
  
2019
 
  
2020
 
Current
  
   
  
   
Assets
  
 
55,830
 
  
 
58,814
 
Liabilities
  
 
(1,596
) 
  
 
(4,795
) 
Non-current
  
   
  
   
Assets
  
 
12,408
 
  
 
11,635
 
 
  
 
 
 
  
 
 
 
Net assets
  
 
66,642
 
  
 
65,654
 
 
  
 
 
 
  
 
 
 
 
 
  
Concesionaria
Chavimochic S.A.C.
 
Entity
  
2019
 
  
2020
 
Administrative expenses
  
 
(11,028
) 
  
 
(4,521
) 
 
  
 
 
 
  
 
 
 
Loss operative
  
 
(11,028
) 
  
 
(4,521
) 
Others
  
 
(719
) 
  
 
3,534
 
 
  
 
 
 
  
 
 
 
Loss of the year
  
 
(11,747
) 
  
 
(987
) 
 
  
 
 
 
  
 
 
 
Total comprehensive loss
  
 
(11,747
) 
  
 
(987
) 
 
  
 
 
 
  
 
 
 
Summary of Detailed Information about Joint Ventures
Set out below are the joint ventures of the Corporation as of December 31:
 
 
  
 
 
  
 
  
 
 
  
Carrying amount
 
 
  
Class
 
  
Interest in capital
 
  
At December 31,
 
Entity
  
of share
 
  
2019
  
2020
 
  
2019
 
  
2020
 
 
  
 
 
  
%
  
%
 
  
 
 
  
 
 
Logistica Quimicos del Sur S.A.C.
  
 
Common
 
  
50.00
  
 
50.00
 
  
 
8,006
 
  
 
8,080
 
Constructora
SK-VyV
Ltda.
  
 
Common
 
  
50.00
  
 
50.00
 
  
 
29
 
  
 
34
 
Others
  
   
  
—  
  
 
—  
 
  
 
125
 
  
 
156
 
 
  
   
  
 
  
   
  
 
 
 
  
 
 
 
 
  
   
  
 
  
   
  
 
8,160
 
  
 
8,270
 
 
  
   
  
 
  
   
  
 
 
 
  
 
 
 
Schedule of Movement of Investments in Joint Ventures
The movement of the investments in joint ventures was as follows:
 
 
  
2018
 
  
2019
 
  
2020
 
Opening balance
  
 
18,618
 
  
 
7,483
 
  
 
8,160
 
Equity interest in results
  
 
1,599
 
  
 
2,219
 
  
 
2,405
 
Disposal of Investment
  
 
(10,112
) 
  
 
—  
 
  
 
—  
 
Dividends received
  
 
(1,823
) 
  
 
(1,517
) 
  
 
(2,318
) 
Conversion adjustment
  
 
79
 
  
 
(14
) 
  
 
23
 
Impairment of investment
  
 
(878
) 
  
 
(11
) 
  
 
—  
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Final balance
  
 
7,483
 
  
 
8,160
 
  
 
8,270
 
 
  
 
 
 
  
 
 
 
  
 
 
 
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.
  
2019
 
  
2020
 
Current
  
   
  
   
Cash and cash equivalents
  
 
2,131
 
  
 
2,710
 
Other current assets
  
 
2,416
 
  
 
3,324
 
 
  
 
 
 
  
 
 
 
Total current assets
  
 
4,547
 
  
 
6,034
 
 
  
 
 
 
  
 
 
 
Other current liabilities
  
 
(4,381
) 
  
 
(6,108
) 
 
  
 
 
 
  
 
 
 
Total current liabilities
  
 
(4,381
) 
  
 
(6,108
) 
 
  
 
 
 
  
 
 
 
Non-current
  
   
  
   
Total
non-current
assets
  
 
37,620
 
  
 
35,715
 
Total
non-current
liabilities
  
 
(21,773
) 
  
 
(19,484
) 
 
  
 
 
 
  
 
 
 
Net assets
  
 
16,013
 
  
 
16,157
 
 
  
 
 
 
  
 
 
 
Revenue
  
 
12,622
 
  
 
13,351
 
Depreciation and amortization
  
 
(2,505
) 
  
 
(2,394
) 
Interest expense
  
 
(644
) 
  
 
(508
) 
 
  
 
 
 
  
 
 
 
Profit from continuing operations
  
 
6,500
 
  
 
6,854
 
Income tax expense
  
 
(1,913
) 
  
 
(2,072
) 
 
  
 
 
 
  
 
 
 
Profit from continuing operations after income tax
  
 
4,587
 
  
 
4,782
 
 
  
 
 
 
  
 
 
 
Total comprehensive income
  
 
4,587
 
  
 
4,782