Empresas Públicas De Medellín E.S.P. and Subsidiaries
Total Page:16
File Type:pdf, Size:1020Kb
Empresas Públicas de Medellín E.S.P. and Subsidiaries Interim Condensed Consolidated Financial Statements and Notes 31 March 2020 and 31 December 2019 (Unaudited) EMPRESAS PÚBLICAS DE MEDELLÍN E.S.P. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION As of 31 March 2020 and 31 December 2019 Figures stated in millions of Colombian pesos March December Notes 2020 2019 Assets Non-Current Assets Property, plant and equipment, net 7 37,036,477 35,605,655 Investment property 143,458 140,354 Goodwill 3,278,074 2,895,451 Other intangible assets 2,565,287 2,350,612 Right-of-use assets 612,536 609,412 Investments in associates 9 1,712,718 1,758,462 Investments in a joint ventures 82 82 Deferred tax assets 244,653 220,026 Trade and other receivables 1,001,245 1,013,685 Other financial assets 10 2,201,882 2,541,567 Other assets 102,151 106,914 Cash and cash equivalents (restricted) 11 70,797 46,415 Total non-current assets 48,969,360 47,288,635 Current assets Inventories 450,472 391,244 Trade and other receivables 4,638,044 4,072,661 Current income tax assets 261,996 169,185 Other financial assets 10 905,506 867,998 Other assets 447,657 438,592 Cash and cash equivalents 11 1,484,289 1,664,151 Total Current assets 8,187,964 7,603,831 Total assets 57,157,324 54,892,466 Deferred tax assets related to deferred regulatory account balances 15,557 7,683 Total assets and debit balances of deferred regulatory accounts 57,172,881 54,900,149 Equity Issued capital 67 67 Treasury shares (52) (41) Reserves 2,290,870 2,337,862 Accumulated other comprehensive income 3,501,425 3,304,761 Accumulated profit 16,067,732 14,518,224 Net profit for the period (329,853) 2,985,182 Other components of equity 68,333 68,333 Equity attributable to controlling interests 21,598,522 23,214,388 Non-controlling interests 1,071,386 964,572 Total equity 22,669,908 24,178,960 EMPRESAS PÚBLICAS DE MEDELLÍN E.S.P. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION As of 31 March 2020 and 31 December 2019 Figures stated in millions of Colombian pesos March December Notes 2020 2019 Liabilities Non-current liabilities Loans and borrowings 12 20,287,537 17,671,539 Trade and other payables 701,359 601,393 Other financial liabilities 928,087 916,917 Employee benefits 973,492 931,492 Income tax payable 33,701 33,701 Deferred tax liabilities 2,236,896 2,243,327 Provisions 13 579,105 491,930 Other liabilities 133,238 116,440 Total non-current liabilities 25,873,415 23,006,739 Current liabilities Loans and borrowings 12 2,727,950 2,984,466 Trade and other payables 3,837,744 2,534,254 Other financial liabilities 428,029 416,661 Employee benefits 248,794 247,466 Income tax payable 258,300 363,584 Taxes, contributions and rates 189,877 222,368 Provisions 13 586,997 589,977 Other liabilities 300,009 330,064 Total current liabilities 8,577,700 7,688,840 Total liabilities 34,451,115 30,695,579 Credit balances of deferred regulatory accounts 51,858 25,610 Total liabilities and credit balances of deferred regulatory accounts 34,502,973 30,721,189 Total liabilities and equity 57,172,881 54,900,149 The accompanying notes are an integral part of the financial statements Álvaro Guillermo Rendón López Jorge Andrés Tabares Ángel John Jaime Rodríguez Sosa General Manager Executive Vice-President Finances and Investments Director of Accounting and Costs Professional Card No. 144842-T EMPRESAS PÚBLICAS DE MEDELLÍN E.S.P. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the period from 1 January to 31 March 2020 and 2019 Figures stated in millions of Colombian pesos Notes 2020 2019 Continuing operations Sale of goods 14 8,947 3,222 Rendering of services 14 4,651,338 4,198,031 Leases 14 24,973 26,164 Other income 15 61,128 56,976 Revenue 4,746,386 4,284,393 Profit on sale of assets 14 120 429 Total income 4,746,506 4,284,822 Costs of goods sold and services rendered 16 (3,172,241) (2,762,787) Administrative expenses 17 (371,249) (322,049) Impairment loss on trade receivables 1,722 (7,666) Other expenses 18 (17,195) (16,725) Finance income 19.1 69,882 84,448 Finance expenses 19.2 (274,295) (326,409) Net foreign exchange difference 20 (1,351,060) 75,107 Equity-accounted investees 9 (45,744) 26,367 Gain on equity investments 71,932 62,163 Income for the year before tax (341,742) 1,097,271 Income tax 21 77,652 (354,620) Profit for the period after taxes from continuing operations (264,090) 742,651 Discontinued operations, net of income tax - - Net profit for the period before net movement in balances of deferred regulatory accounts (264,090) 742,651 Net movement in balances of net regulatory accounts related to profit for the period (18,133) (15,462) Net movement in deferred tax related to deferred regulatory accounts related to profit for the period 5,749 4,628 Net profit for the period and net movement in balances of deferred regulatory accounts (276,474) 731,817 Other comprehensive income Items that will not be reclassified to profit or loss: Remeasurement of defined benefit plans (8,998) (3,820) Equity investments measured at fair value through equity (402,659) 251,459 Income tax related to components that will not be reclassified (223) 183 (411,880) 247,822 Items that may be reclassified subsequently to profit or loss: Cash flow hedging 24,709 9,781 Recognized profit for the period 73,137 (49,552) Reclassification adjustment (48,428) 59,333 Exchange differences on translation of foreign operations 583,378 (48,731) Income taxes related to components that can be reclassified 329 6,773 Equity accounted investees – share of OCI 9 (18) 5 608,398 (32,172) Other comprehensive income, net of taxes 196,518 215,650 Total comprehensive income for the period (79,956) 947,467 Profit for the period attributable to: Controlling interests (329,853) 681,539 Non-controlling interest 53,379 50,278 (276,474) 731,817 Total comprehensive income attributable to: Controlling interests (133,166) 890,853 Non-controlling interest 53,210 56,614 (79,956) 947,467 The accompanying notes are an integral part of the financial statements Álvaro Guillermo Rendón López Jorge Andrés Tabares Ángel John Jaime Rodríguez Sosa General Manager Executive Vice-President Finances and Investments Director of Accounting and Costs Professional Card No. 144842-T EMPRESAS PÚBLICAS DE MEDELLÍN E.S.P. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY For the period from 1 January to 31 March 2020 and 2019 Figures stated in millions of Colombian pesos Other comprehensive income Result of the period in Exchange Reclassification of Accumulated other other comprehensive Attributable to Issued Treasury Other components Equity Defined benefit Cash flow differences on properties, plant and Non-controlling Reserves comprehensive income of associates controlling Total capital shares of equity investments plans hedging translation of equipment to interests income and joint ventures interests foreign operations investment property business Balance at 1 January 2019 67 - 2,560,657 15,650,483 (23,323) 2,168,304 (28,381) (70,503) 817,051 11,796 (3,640) 21,082,511 953,707 22,036,218 Profit for the period - - - 681,539 - - - - - - - 681,539 50,278 731,817 Other comprehensive income for the period, net of income tax - - - - - 244,066 (2,883) 16,846 (48,720) - 5 209,314 6,336 215,650 Comprehensive income for the period - - - 681,539 - 244,066 (2,883) 16,846 (48,720) - 5 890,853 56,614 947,467 Surpluses or dividends declared - - - (400,000) - - - - - - - (400,000) (102,101) (502,101) Movement in reserves - - (230,500) 230,500 - - - - - - - - - - Transfers to retained earnings - - - (319) - - 427 - - - - 108 - 108 Equity-accounted investees for changes in equity - - - - 494 - - - - - - 494 - 494 Other movement of the period - - - (78) - - - - - - - (78) (11,076) (11,154) Balance at 31 March 2019 67 - 2,330,157 16,162,125 (22,829) 2,412,370 (30,837) (53,657) 768,331 11,796 (3,635) 21,573,888 897,144 22,471,032 Balance at 1 January 2020 67 (41) 2,337,862 17,503,406 68,333 2,794,405 (77,145) (21,584) 600,765 12,234 (3,914) 23,214,388 964,572 24,178,960 Profit for the period - - - (329,853) - - - - - - - (329,853) 53,379 (276,474) Other comprehensive income for the period, net of income tax - - - - - (402,659) (8,790) 25,038 583,116 - (18) 196,687 (169) 196,518 Comprehensive income for the period - - - (329,853) - (402,659) (8,790) 25,038 583,116 - (18) (133,166) 53,210 (79,956) Reacquisition of shares - (11) - - - - - - - - - (11) (10) (21) Surpluses or dividends declared - - - (1,488,302) - - - - - - - (1,488,302) (96,598) (1,584,900) Movement in reserves - - (46,992) 46,992 - - - - - - - - - - Transfers to retained earnings - - - 27 - (19) (8) - - - - - - - Other movement of the period - - - 5,609 - (2) - - 6 - - 5,613 150,212 155,825 Balance at 31 March 2020 67 (52) 2,290,870 15,737,879 68,333 2,391,725 (85,943) 3,454 1,183,887 12,234 (3,932) 21,598,522 1,071,386 22,669,908 The accompanying notes are an integral part of the financial statements Álvaro Guillermo Rendón López Jorge Andrés Tabares Ángel John Jaime Rodríguez Sosa General Manager Executive Vice-President Finances and Investments Director of Accounting and Costs Professional Card No.