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Name | Symbol | Market | Type |
---|---|---|---|
Grana y Montero SAA | NYSE:GRAM | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.99 | 0 | 01:00:00 |
CONTENTS
|
Page
|
Consolidated Statement of Financial Position
|
1
|
Consolidated Statement of Income
|
2
|
Consolidated Statement of Comprehensive Income
|
3
|
Consolidated Statement of Changes in Equity
|
4
|
Consolidated Statement of Cash Flows
|
5
|
Notes to the Consolidated Financial Statements
|
6 - 26
|
|
S/
|
=
|
Peruvian Sol
|
|
US$
|
=
|
United States dollar
|
1.
|
GENERAL INFORMATION
|
2.
|
BASIS OF PREPARATION
|
3.
|
SIGNIFICANT ACCOUNTING POLICIES
|
4.
|
FINANCIAL RISK MANAGEMENT
|
4.1
|
Financial risk factors
|
a)
|
Market risks
|
i.
|
Foreign Exchange risk
|
ii.
|
Price risk
|
iii.
|
Cash flow and fair value interest rate risk
|
b)
|
Credit risk
|
c)
|
Liquidity risk
|
Less than
|
1-2
|
2-5
|
More than
|
|||||||||||||||||
At December 31, 2018
|
1 year
|
years
|
years
|
5 years
|
Total
|
|||||||||||||||
Other financial liabilities (except
|
||||||||||||||||||||
for finance leases)
|
816,122
|
273,079
|
129,233
|
41,577
|
1,260,011
|
|||||||||||||||
Finance leases
|
15,151
|
7,489
|
14,094
|
-
|
36,734
|
|||||||||||||||
Bonds
|
111,080
|
153,287
|
355,667
|
1,174,404
|
1,794,438
|
|||||||||||||||
Trade accounts payables
|
1,079,531
|
-
|
-
|
-
|
1,079,531
|
|||||||||||||||
Accounts payables to related
|
||||||||||||||||||||
parties
|
55,941
|
21,849
|
-
|
-
|
77,790
|
|||||||||||||||
Other accounts payables
|
116,806
|
17,777
|
338,627
|
-
|
473,210
|
|||||||||||||||
Other non-financial liabilities
|
-
|
61
|
-
|
-
|
61
|
|||||||||||||||
2,194,631
|
473,542
|
837,621
|
1,215,981
|
4,721,775
|
||||||||||||||||
Less than
|
1-2
|
2-5
|
More than
|
|||||||||||||||||
At June 30, 2019
|
1 year
|
years
|
years
|
5 years
|
Total
|
|||||||||||||||
Other financial liabilities (except
|
||||||||||||||||||||
for finance leases)
|
418,353
|
214,192
|
-
|
-
|
632,545
|
|||||||||||||||
Finance leases
|
14,027
|
5,334
|
12,062
|
-
|
31,423
|
|||||||||||||||
Bonds
|
120,015
|
143,491
|
356,216
|
1,132,868
|
1,752,590
|
|||||||||||||||
Trade accounts payables
|
1,132,989
|
-
|
-
|
-
|
1,132,989
|
|||||||||||||||
Accounts payables to related
|
||||||||||||||||||||
parties
|
64,846
|
22,919
|
-
|
-
|
87,765
|
|||||||||||||||
Other accounts payables
|
243,843
|
2,079
|
336,540
|
-
|
582,462
|
|||||||||||||||
Other non-financial liabilities
|
-
|
105
|
-
|
-
|
105
|
|||||||||||||||
1,994,073
|
388,120
|
704,818
|
1,132,868
|
4,219,879
|
4.2
|
Capital management
|
At
|
At
|
|||||||
December 31,
|
June 30,
|
|||||||
2018
|
2019
|
|||||||
Total financial liabilities and bonds
|
2,139,714
|
1,589,343
|
||||||
Less: Cash and cash equivalents
|
(801,140
|
)
|
(791,747
|
)
|
||||
Net debt
)
|
1,338,574
|
797,596
|
||||||
Total equity
|
2,489,931
|
2,780,872
|
||||||
Total capital
|
3,828,505
|
3,578,468
|
||||||
Gearing ratio
|
0.35
|
0.22
|
4.3
|
Fair value estimation
|
-
|
Level 1: Measurement based on quoted prices in active markets for identical assets or liabilities.
|
-
|
Level 2: Measurement based on inputs other than quoted prices included within (Level 1) that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived
from prices).
|
-
|
Level 3: Measurement based on inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs, generally based on internal estimates and assumptions of the Group).
|
5.
|
CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS
|
6.
|
SEASONALITY OF OPERATIONS
|
7.
|
SEGMENT INFORMATION
|
Operating segment performance
|
||||||||||||||||||||||||||||||||||||
Segment Reporting
|
||||||||||||||||||||||||||||||||||||
Infrastructure
|
||||||||||||||||||||||||||||||||||||
For the six-month period ended June 30, 2018 -
|
Engineering and
construction
|
Energy
|
Toll roads
|
Transportation
|
Water
treatment
|
Real estate
|
Parent
Company
operations
|
Eliminations
|
Consolidated
|
|||||||||||||||||||||||||||
Revenue
|
920,117
|
269,314
|
304,879
|
304,965
|
1,598
|
143,559
|
43,219
|
(298,406
|
)
|
1,689,245
|
||||||||||||||||||||||||||
Gross profit (loss)
|
34,849
|
61,750
|
50,068
|
53,173
|
209
|
25,059
|
(6,426
|
)
|
(10,571
|
)
|
208,111
|
|||||||||||||||||||||||||
Administrative expenses
|
(64,565
|
)
|
(9,824
|
)
|
(15,221
|
)
|
(5,361
|
)
|
(118
|
)
|
(9,147
|
)
|
(33,272
|
)
|
18,841
|
(118,667
|
)
|
|||||||||||||||||||
Other income and expenses, net
|
8,920
|
(15
|
)
|
2
|
2
|
-
|
(1,118
|
)
|
628
|
2,671
|
11,090
|
|||||||||||||||||||||||||
Operating profit (loss)
|
(20,796
|
)
|
51,911
|
34,849
|
47,814
|
91
|
14,794
|
(39,070
|
)
|
10,941
|
100,534
|
|||||||||||||||||||||||||
Financial expenses
|
(34,447
|
)
|
(7,366
|
)
|
(13,801
|
)
|
(3,719
|
)
|
-
|
(11,146
|
)
|
(63,430
|
)
|
11,047
|
(122,862
|
)
|
||||||||||||||||||||
Financial income
|
6,331
|
337
|
2,004
|
11,091
|
30
|
2,844
|
14,610
|
(23,232
|
)
|
14,015
|
||||||||||||||||||||||||||
Dividends
|
-
|
-
|
-
|
-
|
-
|
-
|
2,196
|
(2,196
|
)
|
-
|
||||||||||||||||||||||||||
Share of profit or loss in associates
|
||||||||||||||||||||||||||||||||||||
and joint ventures
|
(4,522
|
)
|
709
|
-
|
-
|
-
|
-
|
35,875
|
(35,223
|
)
|
(3,161
|
)
|
||||||||||||||||||||||||
(Loss) profit before income tax
|
(53,434
|
)
|
45,591
|
23,052
|
55,186
|
121
|
6,492
|
(49,819
|
)
|
(38,663
|
)
|
(11,474
|
)
|
|||||||||||||||||||||||
Income tax
|
3,772
|
(13,564
|
)
|
(7,203
|
)
|
(16,788
|
)
|
(177
|
)
|
(1,837
|
)
|
23,046
|
810
|
(11,941
|
)
|
|||||||||||||||||||||
(Loss) profit from continuing operations
|
(49,662
|
)
|
32,027
|
15,849
|
38,398
|
(56
|
)
|
4,655
|
(26,773
|
)
|
(37,853
|
)
|
(23,415
|
)
|
||||||||||||||||||||||
Loss from discontinuing operations
|
44,096
|
-
|
-
|
-
|
-
|
-
|
(27,786
|
)
|
380
|
16,690
|
||||||||||||||||||||||||||
(Loss) profit for the period
|
(5,566
|
)
|
32,027
|
15,849
|
38,398
|
(56
|
)
|
4,655
|
(54,559
|
)
|
(37,473
|
)
|
(6,725
|
)
|
||||||||||||||||||||||
(Loss) profit from attributable to:
|
||||||||||||||||||||||||||||||||||||
Owners of the Company
|
(7,582
|
)
|
29,496
|
13,149
|
28,799
|
(56
|
)
|
(2,978
|
)
|
(50,071
|
)
|
(39,144
|
)
|
(28,387
|
)
|
|||||||||||||||||||||
Non-controlling interest
|
2,016
|
2,531
|
2,700
|
9,599
|
-
|
7,633
|
(4,488
|
)
|
1,671
|
21,662
|
||||||||||||||||||||||||||
(5,566
|
)
|
32,027
|
15,849
|
38,398
|
(56
|
)
|
4,655
|
(54,559
|
)
|
(37,473
|
)
|
(6,725
|
)
|
Operating segment performance
|
||||||||||||||||||||||||||||||||||||
Segment Reporting
|
||||||||||||||||||||||||||||||||||||
Infrastructure
|
||||||||||||||||||||||||||||||||||||
For the six-month period ended June 30, 2019 -
|
Engineering and
construction
|
Energy
|
Toll roads
|
Transportation
|
Water
treatment
|
Real estate
|
Parent
Company
operations
|
Eliminations
|
Consolidated
|
|||||||||||||||||||||||||||
Revenue
|
1,050,498
|
274,222
|
315,137
|
202,958
|
1,782
|
65,820
|
44,565
|
(326,000
|
)
|
1,628,982
|
||||||||||||||||||||||||||
Gross profit (loss)
|
103,187
|
57,749
|
46,323
|
37,459
|
393
|
8,883
|
(1,985
|
)
|
(25,672
|
)
|
226,337
|
|||||||||||||||||||||||||
Administrative expenses
|
(66,993
|
)
|
(12,322
|
)
|
(15,150
|
)
|
(7,317
|
)
|
(258
|
)
|
(11,008
|
)
|
(13,908
|
)
|
32,116
|
(94,840
|
)
|
|||||||||||||||||||
Other income and expenses, net
|
5,216
|
226
|
(16,911
|
)
|
(1
|
)
|
-
|
(144
|
)
|
56,917
|
880
|
46,183
|
||||||||||||||||||||||||
Gain from sale of investments
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||
Operating profit (loss)
|
41,410
|
45,653
|
14,262
|
30,141
|
135
|
(2,269
|
)
|
41,024
|
7,324
|
177,680
|
||||||||||||||||||||||||||
Financial expenses
|
(36,505
|
)
|
(5,663
|
)
|
(14,521
|
)
|
(7,302
|
)
|
(11
|
)
|
(8,975
|
)
|
(52,078
|
)
|
7,335
|
(117,720
|
)
|
|||||||||||||||||||
Financial income
|
2,293
|
565
|
1,305
|
14,855
|
328
|
1,968
|
38,249
|
(15,174
|
)
|
44,389
|
||||||||||||||||||||||||||
Dividends
|
-
|
-
|
-
|
-
|
-
|
-
|
3,904
|
(3,904
|
)
|
-
|
||||||||||||||||||||||||||
Share of profit or loss in associates
|
||||||||||||||||||||||||||||||||||||
and joint ventures
|
(4,063
|
)
|
1,073
|
-
|
-
|
-
|
-
|
(1,017
|
)
|
2,250
|
(1,757
|
)
|
||||||||||||||||||||||||
(Loss) profit before income tax
|
3,135
|
41,628
|
1,046
|
37,694
|
452
|
(9,276
|
)
|
30,082
|
(2,169
|
)
|
102,592
|
|||||||||||||||||||||||||
Income tax
|
(13,378
|
)
|
(12,046
|
)
|
(6,891
|
)
|
(10,925
|
)
|
(256
|
)
|
1,845
|
(13,181
|
)
|
28
|
(54,804
|
)
|
||||||||||||||||||||
(Loss) profit from continuing operations
|
(10,243
|
)
|
29,582
|
(5,845
|
)
|
26,769
|
196
|
(7,431
|
)
|
16,901
|
(2,141
|
)
|
47,788
|
|||||||||||||||||||||||
Loss from discontinuing operations
|
-
|
-
|
-
|
-
|
-
|
-
|
(11,844
|
)
|
(81
|
)
|
(11,925
|
)
|
||||||||||||||||||||||||
(Loss) profit for the period
|
(10,243
|
)
|
29,582
|
(5,845
|
)
|
26,769
|
196
|
(7,431
|
)
|
5,057
|
(2,222
|
)
|
35,863
|
|||||||||||||||||||||||
(Loss) profit from attributable to:
|
||||||||||||||||||||||||||||||||||||
Owners of the Company
|
(10,539
|
)
|
27,001
|
(9,235
|
)
|
20,077
|
196
|
(5,709
|
)
|
10,471
|
(5,222
|
)
|
27,040
|
|||||||||||||||||||||||
Non-controlling interest
|
296
|
2,581
|
3,390
|
6,692
|
-
|
(1,722
|
)
|
(5,414
|
)
|
3,000
|
8,823
|
|||||||||||||||||||||||||
(10,243
|
)
|
29,582
|
(5,845
|
)
|
26,769
|
196
|
(7,431
|
)
|
5,057
|
(2,222
|
)
|
35,863
|
8.
|
CASH AND CASH EQUIVALENTS
|
At
|
At
|
|||||||
December 31,
|
June 30,
|
|||||||
2018
|
2019
|
|||||||
Cash on hand
|
1,377
|
1,515
|
||||||
Cash in-transit
|
|
|
3,566
|
|
|
|
3,942
|
|
Bank accounts
|
647,832
|
654,820
|
||||||
Time deposits
|
148,365
|
131,470
|
||||||
801,140
|
791,747
|
At
|
At
|
|||||||
December 31,
|
June 30,
|
|||||||
2018
|
2019
|
|||||||
Cash and cash equivalent on Consolidated statement of
|
||||||||
financial position
|
801,140
|
791,747
|
||||||
Bank overdrafts (Note 12)
|
(119
|
)
|
(5
|
)
|
||||
Balances per Consolidated statement of cash flows
|
801,021
|
791,742
|
9.
|
TRANSACTIONS WITH RELATED PARTIES
|
At June 30,
|
||||||||
2018
|
2019
|
|||||||
Revenue from sales of goods and services:
|
||||||||
- Associates
|
1,691
|
108
|
||||||
- Joint operations
|
15,782
|
20,418
|
||||||
17,473
|
20,526
|
At December 31,
|
At June 30,
|
|||||||||||||||
2018
|
2019
|
|||||||||||||||
Receivable
|
Payable
|
Receivable
|
Payable
|
|||||||||||||
Current portion:
|
||||||||||||||||
Joint operations
|
||||||||||||||||
Consorcio Rio Urubamba
|
9,122
|
-
|
9,007
|
-
|
||||||||||||
Consorcio Peruano de Conservacion
|
6,417
|
-
|
3,101
|
-
|
||||||||||||
Consorcio Italo Peruano
|
3,322
|
4,996
|
608
|
984
|
||||||||||||
Consorcio Constructor Chavimochic
|
2,138
|
6,199
|
-
|
6,531
|
||||||||||||
Consorcio GyM Conciviles
|
1,855
|
-
|
1,217
|
-
|
||||||||||||
Consorcio La Gloria
|
1,369
|
1,006
|
1,373
|
1,022
|
||||||||||||
Consorcio Ermitaño
|
781
|
624
|
877
|
507
|
||||||||||||
Terminales del Peru
|
459
|
-
|
2,470
|
-
|
||||||||||||
Consorcio TNT Vial y Vives - DSD Chile Ltda
|
-
|
11,804
|
-
|
3,565
|
||||||||||||
Consorcio Rio Mantaro
|
-
|
6,655
|
2,359
|
8,357
|
||||||||||||
Consorcio Vial Quinua
|
-
|
1,970
|
-
|
2,049
|
||||||||||||
Consorcio Huacho Pativilca
|
-
|
475
|
8,959
|
16,202
|
||||||||||||
Consorcio CDEM
|
-
|
-
|
2,294
|
-
|
||||||||||||
Consorcio GyM-Stracon
|
-
|
-
|
2,018
|
-
|
||||||||||||
Other minors
|
9,215
|
11,323
|
8,111
|
5,704
|
||||||||||||
34,678
|
45,052
|
42,394
|
44,921
|
|||||||||||||
Other related parties
|
||||||||||||||||
Ferrovias Argentina
|
-
|
10,242
|
-
|
15,861
|
||||||||||||
Peru Piping Spools S.A.C.
|
225
|
-
|
1,042
|
-
|
||||||||||||
Other minors
|
-
|
647
|
-
|
4,064
|
||||||||||||
225
|
10,889
|
1,042
|
19,925
|
|||||||||||||
Current portion
|
34,903
|
55,941
|
43,436
|
64,846
|
||||||||||||
Non-current portion:
|
||||||||||||||||
Gasoducto Sur Peruano S.A
|
773,927
|
-
|
787,553
|
-
|
||||||||||||
Ferrovias Participaciones
|
-
|
21,849
|
-
|
22,919
|
||||||||||||
Consorcio Constructor Chavimochic
|
-
|
-
|
2,083
|
-
|
||||||||||||
Other minors
|
4,299
|
-
|
-
|
-
|
||||||||||||
Non-current
|
778,226
|
21,849
|
789,636
|
22,919
|
10.
|
INVESTMENTS IN ASSOCIATES AND JOINT VENTURES
|
At June 30,
|
||||||||
2018
|
2019
|
|||||||
Beginning balance
|
268,671
|
257,765
|
||||||
Contributions received
|
3,770
|
-
|
||||||
Dividends received
|
(653
|
)
|
(332
|
)
|
||||
Share of the profit or loss in associates and joint ventures
|
(3,161
|
)
|
(1,757
|
)
|
||||
Write-off of investment
|
-
|
(142
|
)
|
|||||
Translation adjustments
|
(2,533
|
)
|
-
|
|||||
Discontinued operations
|
736
|
-
|
||||||
Ending balance
|
266,830
|
255,534
|
11.
|
PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS
|
Property,
|
||||||||
plant and
|
Intangibles
|
|||||||
equipment
|
assets
|
|||||||
Net cost at January 1, 2018
|
865,735
|
940,070
|
||||||
Additions
|
31,769
|
83,258
|
||||||
Subsidiary deconsolidation
|
(207,243
|
)
|
(16,509
|
)
|
||||
Transfers, disposals and adjustments
|
(5,496
|
)
|
1,008
|
|||||
Deductions for sale of assets
|
(21,856
|
)
|
-
|
|||||
Depreciation, amortization
|
(70,389
|
)
|
(52,758
|
)
|
||||
Net cost at June 30, 2018
|
592,520
|
955,069
|
||||||
Net cost at January 1, 2019
|
470,554
|
847,095
|
||||||
Additions
|
30,652
|
74,544
|
||||||
Transfers, disposals and adjustments (*)
|
(11,327
|
)
|
(5,963
|
)
|
||||
Deductions for sale of assets
|
(3,872
|
)
|
-
|
|||||
Depreciation, amortization
|
(36,794
|
)
|
(49,644
|
)
|
||||
Net cost at June 30, 2019
|
449,213
|
866,032
|
At June 30,
|
||||||||
2018
|
2019
|
|||||||
Cost of services and goods (Note 16)
|
43,560
|
36,141
|
||||||
Administrative expenses (Note 16)
|
2,696
|
1,823
|
||||||
(+) Depreciation discontinued operation
|
25,291
|
-
|
||||||
Total depreciation related to property, plant and equipment and investment property
|
71,547
|
37,964
|
||||||
(-) Depreciation of investment property
|
(1,158
|
)
|
(1,170
|
)
|
||||
Total depreciation of property, plant and equipment
|
70,389
|
36,794
|
At June 30,
|
||||||||
2018
|
2019
|
|||||||
Cost of services and goods (Note 16)
|
46,769
|
46,822
|
||||||
Administrative expenses (Note 16)
|
1,299
|
2,822
|
||||||
(+) Amortization discontinued operations
|
4,690
|
-
|
||||||
52,758
|
49,644
|
At
|
At
|
|||||||
December 31,
|
June 30,
|
|||||||
2018
|
2019
|
|||||||
Engineering and construction
|
71,621
|
70,694
|
||||||
Electromechanical
|
20,737
|
20,737
|
||||||
IT services
|
930
|
930
|
||||||
93,288
|
92,361
|
12.
|
BORROWINGS
|
Total
|
Current
|
Non-current
|
||||||||||||||||||||||
At
|
At
|
At
|
At
|
At
|
At
|
|||||||||||||||||||
December 31,
|
June 30,
|
December 31,
|
June 30,
|
December 31,
|
June 30,
|
|||||||||||||||||||
2018
|
2019
|
2018
|
2019
|
2018
|
2019
|
|||||||||||||||||||
Bank overdrafts (Note 8)
|
119
|
5
|
119
|
5
|
-
|
-
|
||||||||||||||||||
Bank loans
|
1,023,481
|
487,663
|
810,188
|
412,724
|
213,293
|
74,939
|
||||||||||||||||||
Finance leases
|
33,488
|
28,905
|
13,514
|
12,597
|
19,974
|
16,308
|
||||||||||||||||||
Other financial entities
|
145,584
|
141,724
|
2,653
|
2,557
|
142,931
|
139,167
|
||||||||||||||||||
1,202,672
|
658,297
|
826,474
|
427,883
|
376,198
|
230,414
|
Current
|
Non-current
|
|
||||||||||||||||||||||||
At
|
At
|
At
|
At
|
|
||||||||||||||||||||||
Interest
|
Maturity
|
December 31,
|
June 30,
|
December 31,
|
June 30,
|
|
||||||||||||||||||||
rate
|
date
|
2018
|
2019
|
2018
|
2019
|
|
||||||||||||||||||||
|
||||||||||||||||||||||||||
GyM S.A.
|
5.25% / 8.91%
|
|
2019
|
227,770
|
255,725
|
(iii)
|
-
|
-
|
|
|||||||||||||||||
Graña y Montero S.A.A.
|
Libor USD 3M + de 4.9%
a 5.5%
|
2018 / 2019
|
206,836
|
-
|
(ii)
|
125,547
|
-
|
(i)
|
||||||||||||||||||
GyM Ferrovías S.A.
|
Libor USD 1M
+ 2%
|
2019
|
209,463
|
-
|
-
|
-
|
|
|||||||||||||||||||
Viva GyM S.A.
|
7.00% / 12.00%
|
|
2018 / 2020
|
129,617
|
136,856
|
2,102
|
-
|
|
||||||||||||||||||
GMP S.A.
|
4.55% / 6.04%
|
|
2018 / 2020
|
22,587
|
20,143
|
85,644
|
74,939
|
|
||||||||||||||||||
CONCAR S.A.
|
15.75%
|
|
2019
|
13,915
|
-
|
-
|
-
|
|
||||||||||||||||||
810,188
|
412,724
|
213,293
|
74,939
|
|
Carrying amount
|
Fair value
|
|||||||||||||||
At
|
At
|
At
|
At
|
|||||||||||||
December 31,
|
June 30,
|
December 31,
|
June 30,
|
|||||||||||||
2018
|
2019
|
2018
|
2019
|
|||||||||||||
Bank overdrafts (Note 8)
|
119
|
5
|
119
|
5
|
||||||||||||
Bank loans
|
1,023,481
|
487,663
|
1,152,885
|
487,612
|
||||||||||||
Finance leases
|
33,488
|
28,905
|
38,399
|
27,173
|
||||||||||||
Other financial entities
|
145,584
|
141,724
|
145,584
|
141,724
|
||||||||||||
1,202,672
|
658,297
|
1,336,987
|
656,514
|
13.
|
BONDS
|
Total
|
Current
|
Non-current
|
||||||||||||||||||||||
At
|
At
|
At
|
At
|
At
|
At
|
|||||||||||||||||||
December 31,
|
June 30,
|
December 31,
|
June 30,
|
December 31,
|
June 30,
|
|||||||||||||||||||
2018
|
2019
|
2018
|
2019
|
2018
|
2019
|
|||||||||||||||||||
GyM Ferrovías S.A.
|
611,660
|
614,876
|
13,422
|
15,544
|
598,238
|
599,332
|
||||||||||||||||||
Norvial S.A.
|
325,382
|
316,170
|
25,745
|
32,944
|
299,637
|
283,226
|
||||||||||||||||||
937,042
|
931,046
|
39,167
|
48,488
|
897,875
|
882,558
|
a)
|
GyM Ferrovías S.A.
|
2018
|
2019
|
|||||||
Balance at January, 1
|
603,657
|
611,660
|
||||||
Amortization
|
(5,064
|
)
|
(5,638
|
)
|
||||
Accrued interest
|
23,814
|
23,894
|
||||||
Interest paid
|
(14,960
|
)
|
(15,040
|
)
|
||||
Balance at June, 30
|
607,447
|
614,876
|
-
|
Debt service coverage ratio not less than 1.2 times.
|
-
|
Maintain a constant balance in the minimum trust equal to one quarter of operation and maintenance costs (including the IGV).
|
-
|
Maintain a constant balance in the minimum trust equal to the following two coupons according to the bond schedule.
|
b)
|
Norvial S.A.
|
2018
|
2019
|
|||||||
Balance at January, 1
|
343,910
|
325,382
|
||||||
Amortization
|
(9,937
|
)
|
(9,205
|
)
|
||||
Accrued interest
|
11,886
|
11,782
|
||||||
Capitalized interest
|
1,927
|
1,398
|
||||||
Interest paid
|
(13,822
|
)
|
(13,187
|
)
|
||||
Balance at June, 30
|
333,964
|
316,170
|
-
|
Debt service coverage ratio of not less than 1.3 times.
|
-
|
Proforma gearing ratio lower than 4 times.
|
14.
|
PROVISIONS
|
Contingent
|
||||||||||||||||
liabilities
|
Provision
|
|||||||||||||||
Legal
|
resulting from
|
for well
|
||||||||||||||
contingencies
|
acquisitions
|
closure
|
Total
|
|||||||||||||
At January 1, 2018
|
23,364
|
7,249
|
16,804
|
47,417
|
||||||||||||
Additions
|
2,731
|
-
|
2,139
|
4,870
|
||||||||||||
Reversals of provisions
|
(3,684
|
)
|
(298
|
)
|
-
|
(3,982
|
)
|
|||||||||
Payments
|
(761
|
)
|
-
|
-
|
(761
|
)
|
||||||||||
Translation adjustments
|
(20
|
)
|
35
|
-
|
15
|
|||||||||||
At June 30, 2018
|
21,630
|
6,986
|
18,943
|
47,559
|
||||||||||||
At January 1, 2019
|
84,728
|
4,498
|
20,382
|
109,608
|
||||||||||||
Additions
|
13,564
|
-
|
200
|
13,764
|
||||||||||||
Reversals of provisions
|
(1,091
|
)
|
(456
|
)
|
-
|
(1,547
|
)
|
|||||||||
Payments
|
(250
|
)
|
-
|
-
|
(250
|
)
|
||||||||||
Translation adjustments
|
(29
|
)
|
(56
|
)
|
-
|
(85
|
)
|
|||||||||
At June 30, 2019
|
96,922
|
3,986
|
20,582
|
121,490
|
15.
|
CAPITAL
|
16.
|
EXPENSES BY NATURE
|
Cost of
|
||||||||||||
goods and
|
Administrative
|
|||||||||||
services
|
expenses
|
Total
|
||||||||||
At June 30, 2018
|
||||||||||||
Salaries, wages and fringe benefits
|
444,201
|
50,682
|
494,883
|
|||||||||
Services provided by third-parties
|
455,457
|
42,755
|
498,212
|
|||||||||
Purchase of goods
|
340,658
|
-
|
340,658
|
|||||||||
Other management charges
|
158,310
|
20,859
|
179,169
|
|||||||||
Depreciation
|
43,560
|
2,696
|
46,256
|
|||||||||
Amortization
|
46,769
|
1,299
|
48,068
|
|||||||||
Taxes
|
5,859
|
376
|
6,235
|
|||||||||
Impairment of accounts receivable
|
243
|
-
|
243
|
|||||||||
Inventory recovery
|
(13,923
|
)
|
-
|
(13,923
|
)
|
|||||||
Total report reclassified (Note 20 C)
|
1,481,134
|
118,667
|
1,599,801
|
|||||||||
At June 30, 2019
|
||||||||||||
Salaries, wages and fringe benefits
|
378,778
|
58,403
|
437,181
|
|||||||||
Services provided by third-parties
|
500,917
|
19,054
|
519,971
|
|||||||||
Purchase of goods
|
246,355
|
-
|
246,355
|
|||||||||
Other management charges
|
190,766
|
12,438
|
203,204
|
|||||||||
Depreciation
|
36,141
|
1,823
|
37,964
|
|||||||||
Amortization
|
46,822
|
2,822
|
49,644
|
|||||||||
Taxes
|
4,150
|
300
|
4,450
|
|||||||||
Impairment of accounts receivable
|
347
|
-
|
347
|
|||||||||
Inventory recovery
|
(1,323
|
)
|
-
|
(1,323
|
)
|
|||||||
property, plant and equipment recovery
|
(308
|
)
|
-
|
(308
|
)
|
|||||||
Total report
|
1,402,645
|
94,840
|
1,497,485
|
17.
|
INCOME TAX
|
18.
|
CONTINGENCIES, COMMITTMENTS AND GUARANTEES
|
19.
|
DIVIDENDS
|
20.
|
DISCONTINUED OPERATIONS AND NON-CURRENT ASSET CLASSIFIED AS HELD FOR SALE
|
A.
|
Discontinued operations
|
B.
|
Non-current asset classified as held for sale
|
At
|
At
|
|||||||
December 31,
|
June 30,
|
|||||||
2018
|
2019
|
|||||||
ASSETS
|
||||||||
Cash and cash equivalets
|
6,074
|
3,555
|
||||||
Accounts receivables, net
|
157,351
|
152,710
|
||||||
Inventories, net
|
3,999
|
2,033
|
||||||
Other assets, net
|
80,374
|
91,092
|
||||||
Total assets
|
247,798
|
249,390
|
||||||
LIABILITIES
|
||||||||
Borrowings
|
71,810
|
100,476
|
||||||
Accounts payable
|
148,817
|
132,408
|
||||||
Deferred income tax liabilities
|
5,201
|
4,840
|
||||||
Total liabilities
|
225,828
|
237,724
|
||||||
Total net assets
|
21,970
|
11,666
|
C.
|
Consolidated statement of income
|
At June 30, 2018
|
|
Reclassification
discontinued operations
|
At June 30, 2018
|
|||||||||||||
Reported
|
Completed
|
Planned
|
Reclassified
|
|||||||||||||
Revenues
|
2,241,743
|
(417,353
|
)
|
(135,145
|
)
|
1,689,245
|
||||||||||
Operating costs
|
(2,003,595
|
)
|
401,207
|
121,254
|
(1,481,134
|
)
|
||||||||||
Gross profit (loss)
|
238,148
|
(16,146
|
)
|
(13,891
|
)
|
208,111
|
||||||||||
Administrative expenses
|
(164,618
|
)
|
26,562
|
19,389
|
(118,667
|
)
|
||||||||||
Other (expenses) income, net
|
6,346
|
1,977
|
2,767
|
11,090
|
||||||||||||
Gain from the sale of investments
|
41,895
|
(41,895
|
)
|
-
|
-
|
|||||||||||
Operating profit (loss)
|
121,771
|
(29,502
|
)
|
8,265
|
100,534
|
|||||||||||
Financial expenses
|
(137,870
|
)
|
9,288
|
5,720
|
(122,862
|
)
|
||||||||||
Financial income
|
14,086
|
(54
|
)
|
(17
|
)
|
14,015
|
||||||||||
Share of the profit or loss in associates and joint ventures
|
(2,425
|
)
|
(736
|
)
|
-
|
(3,161
|
)
|
|||||||||
(Loss) profit before income tax
|
(4,438
|
)
|
(21,004
|
)
|
13,968
|
(11,474
|
)
|
|||||||||
Income tax
|
(10,878
|
)
|
2,424
|
(3,487
|
)
|
(11,941
|
)
|
|||||||||
(Loss) profit from continuing operations
|
(15,316
|
)
|
(18,580
|
)
|
10,481
|
(23,415
|
)
|
|||||||||
Profit (loss) from discontinued operations
|
8,591
|
18,580
|
(10,481
|
)
|
16,690
|
|||||||||||
Loss of the period
|
(6,725
|
)
|
(6,725
|
)
|
21.
|
EVENTS AFTER THE DATE OF THE STATEMENT OF FINANCIAL POSITION
|
Between June 30, 2019 and the date of approval of the condensed interim consolidated financial statements, there have been no subsequent events that may affect the reasonableness of the financial
statements issued.
|
1 Year Grana y Montero SAA Chart |
1 Month Grana y Montero SAA Chart |
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