Grana & Montero S.A.A.

CIK:0001572621|SEC Filings

Consolidated Statements of Profit or Loss - PEN (S/) S/ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue
Total revenue from ordinary activities arising from contracts with customers	S/ 4,301,475	S/ 4,405,124	S/ 4,141,398
Cost
Cost of sales and services	(3,605,907)	(3,905,604)	(3,664,692)
Gross profit	695,568	499,520	476,706
Administrative expenses	(219,370)	(214,487)	(243,204)
Other income and expenses	13,705	(290,614)	(4,477)
Operating profit (loss)	489,903	(5,581)	229,025
Financial expenses	(190,044)	(156,474)	(196,415)
Financial income	31,300	15,454	2,646
Interest for present value of financial asset or liability	2,576	(86,014)	(63,032)
Share of the profit or loss of associates and joint ventures accounted for using the equity method	3,011	1,907	(861)
(Loss) profit before income tax	336,746	(230,708)	(28,637)
Income tax expense	(195,625)	(131,346)	(46,405)
(Loss) profit from continuing operations	141,121	(362,054)	(75,042)
Loss from discontinued operation			(26,774)
(Loss) profit for the year	141,121	(362,054)	(101,816)
(Loss) profit attributable to:
Owners of the Company	84,599	(451,151)	(141,770)
Non-controlling interest	56,522	89,097	39,954
(Loss) profit attributable, total	S/ 141,121	S/ (362,054)	S/ (101,816)
(Loss) profit per share attributable to owners of the Company during the year (in Nuevos Soles per share)	S/ 0.071	S/ (0.403)	S/ (0.163)
Diluted (loss) profit per share attributable to owners of the Company during the year (in Nuevos Soles per share)	0.062	(0.377)	(0.142)
(Loss) profit per share from continuing operations attributable to owners of the Company during the year (in Nuevos Soles per share)	0.071	(0.403)	(0.132)
Diluted (loss) profit per share from continuing operations attributable to owners of the Company during the year (in Nuevos Soles per share)	S/ 0.062	S/ (0.377)	S/ (0.115)
Revenue from Construction Activities
Revenue
Total revenue from ordinary activities arising from contracts with customers	S/ 2,443,984	S/ 2,451,067	S/ 2,467,477
Revenue from Services Provided
Revenue
Total revenue from ordinary activities arising from contracts with customers	1,103,323	1,104,900	1,094,439
Revenue from Real Estate and Sale of Goods
Revenue
Total revenue from ordinary activities arising from contracts with customers	754,168	849,157	579,482
Cost of Construction Activities
Cost
Cost of sales and services	(2,176,767)	(2,465,279)	(2,373,482)
Cost of Services Provided
Cost
Cost of sales and services	(842,531)	(874,187)	(836,726)
Cost of Real Estate and Sale of Goods
Cost
Cost of sales and services	S/ (586,609)	S/ (566,138)	S/ (454,484)

Consolidated Statements of Cash Flow - PEN (S/) S/ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities
(Loss) profit before income tax	S/ 336,746	S/ (230,708)	S/ (60,373)
Adjustments to profit not affecting cash flows from operating activities:
Depreciation	76,026	74,988	98,795
Amortization of intangible assets	160,879	102,035	106,512
Impairment (reversal) of inventories		(1,972)	2,984
Impairment of accounts receivable and other accounts receivable		182,114	29,389
Reduction of trade payables	(407)	(5,244)
Impairment of property, plant and equipment		10,187	8,088
Impairment of intangible assets		2,530
Reclassification from other comprehensive income to profit and loss		(7,461)
Other provisions	32,997	294,337	62,962
Renegotiation of liability for acquisition of non-controlling Morelco		(3,706)	(70,322)
Financial expense, net	154,095	159,774	222,453
Impairment of investment		14,804
Incremental cost of acquiring interest in joint operation			12,732
Insurance recovery	(7,183)
Share of the profit and loss of associates and joint ventures accounted for using the equity method	(3,011)	(1,907)	861
Reversal of provisions	(17,966)	(11,930)	(13,027)
Disposal (reversal) of assets	(5,980)	137	2,410
Profit on sale of property, plant and equipment	(4,991)	(3,889)	(3,937)
Loss (profit) on remeasurement of accounts receivable and accounts payable, net	(2,576)	87,477	106,613
Net variations in assets and liabilities:
Trade accounts receivable	(28,640)	(336,106)	(143,190)
Other accounts receivable	55,517	(133,349)	42,133
Other accounts receivable from related parties	26,410	22,572	(57,258)
Inventories	(15,979)	78,899	59,201
Prepaid expenses and other assets	9,802	16,545	(11,681)
Trade accounts payable	131,664	130,929	(27,375)
Other accounts payable	(188,223)	(86,194)	73,966
Other accounts payable to related parties	(23,120)	(4,737)	7,703
Other provisions	(9,291)	(41,000)	(27,964)
Interest paid	(161,473)	(145,773)	(146,369)
Payments for purchases of intangible assets - Concessions	(5,900)	(5,645)	(5,157)
Income tax paid	(150,628)	(124,047)	(75,641)
Net cash provided by operating activities	358,768	33,660	194,508
Investing activities
Proceeds from sale of property, plant and equipment	9,816	11,274	9,162
Interest received	31,225	12,894	2,474
Dividends received	5,175	380	3,445
Acquisition of investment property	(193)	(53)	(152)
Acquisition of intangible assets	(117,856)	(159,512)	(53,808)
Loss of deconsolidation of investment			(11,223)
Acquisition of property, plant and equipment	(71,277)	(63,155)	(38,087)
Net cash applied to investing activities	(143,110)	(198,172)	(88,189)
Financing activities
Borrowing received	281,653	493,031	281,079
Bonds issued			357,424
Payment of borrowings received	(314,335)	(216,195)	(542,918)
Payment of leases	(819)	(8,536)	(5,442)
Payment of bonds issued	(69,694)	(56,745)	(48,858)
Payment of debt transaction costs	(9,959)	(13,736)	(5,681)
Dividends paid to non-controlling interest	(86,926)	(34,477)	(25,693)
Cash received (return of contributions) from non-controlling shareholders	(13,678)	(36,879)	(27,104)
Acquisition or sale of interest in a subsidiary of non-controlling shareholders, net			(33,232)
Capital increase	86,985
Net cash (applied to) provided by financing activities	(126,773)	126,463	(50,425)
(Net decrease) net increase in cash	88,885	(38,049)	55,894
Exchange difference	(2,551)	(1,575)	1,116
Cash and cash equivalents at the beginning of the year	917,554	957,178	900,168
Cash and cash equivalents at the end of the year	1,003,888	917,554	957,178
Non-cash transactions:
Capitalization of interests	832	937	1,244
Acquisition of right-of-use assets	3,792	21,567	7,988
Dividends declared to non-controlling interest	15,107	1,995	17,281
Acquisition of assets through finance leases			104
Capitalization of convertible bonds		S/ 335,580

Consolidated Statements of Financial Position - PEN (S/) S/ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	S/ 1,003,888	S/ 917,554
Trade accounts receivable, net	1,061,801	1,078,582
Accounts receivable from related parties	15,443	27,745
Other accounts receivable, net	348,072	393,195
Inventories, net	360,497	346,783
Prepaid expenses	29,098	28,098
Total current assets	2,818,799	2,791,957
Non-current assets
Trade accounts receivable, net	768,971	723,869
Accounts receivable from related parties	528,285	542,392
Prepaid expenses	14,081	17,293
Other accounts receivable, net	311,404	285,730
Inventories, net	70,282	65,553
Investments in associates and joint ventures	12,747	14,916
Investment property, net	58,260	61,924
Property, plant and equipment, net	307,165	284,465
Intangible assets and goodwill, net	752,456	787,336
Right-of-use assets, net	36,295	50,207
Deferred tax asset	255,763	295,638
Total non-current assets	3,115,709	3,129,323
Total assets	5,934,508	5,921,280
Current liabilities
Borrowings	516,029	574,262
Bonds	81,538	77,100
Trade accounts payable	1,164,266	1,027,256
Accounts payable to related parties	44,372	53,488
Current income tax	38,398	69,652
Other accounts payable	608,828	705,442
Other provisions	117,086	132,926
Total current liabilities	2,570,517	2,640,126
Non-current liabilities
Borrowings	306,678	305,631
Bonds	741,387	792,813
Trade accounts payable	4,001	9,757
Other accounts payable	509,311	102,319
Accounts payable to related parties	28,564	27,293
Other provisions	98,067	569,027
Deferred tax liability	188,694	128,308
Total non-current liabilities	1,876,702	1,935,148
Total liabilities	4,447,219	4,575,274
Equity
Capital	1,371,965	1,196,980
Legal reserve		132,011
Voluntary reserve		29,974
Share Premium		1,142,092
Other reserves	(68,440)	(97,191)
Accumulated results	(41,148)	(1,342,362)
Equity attributable to owners of the Company	1,262,377	1,061,504
Non-controlling interest	224,912	284,502
Total equity	1,487,289	1,346,006
Total liabilities and equity	S/ 5,934,508	S/ 5,921,280