LATAM

2018
Revenue 9,895,456.00
Cost of sales (7,962,843.00)
Gross margin 1,932,613.00
Other income 472,758.00
Distribution costs (619,200.00)
Administrative expenses (721,270.00)
Other expenses (359,781.00)
Other gains/(losses) 53,499.00
Income from operation activities 758,619.00
Financial income 53,253.00
Financial costs (356,269.00)
Foreign exchange gains/(losses) (157,709.00)
Result of indexation units (865.00)
Income (loss) before taxes 297,029.00
Income tax expense / benefit (83,782.00)
NET INCOME (LOSS) FOR THE PERIOD 213,247.00
Income (loss) attributable to owners of the parent 181,935.00
Income (loss) attributable to non-controlling interest 31,312.00
Net income (loss) for the year 213,247.00

BALANCE SHEET
ASSETS
Current assets
Cash and cash equivalents 1,081,642.00
Other financial assets 383,984.00
Other non-financial assets 320,977.00
Trade and other accounts receivable 1,162,582.00
Accounts receivable from related entities 2,931.00
Inventories 279,344.00
Current tax assets 69,134.00
Total current assets other than non-current assets (or
disposal groups) classified as held for sale or as held
for distribution to owners 3,300,594.00

Non-current assets (or disposal groups) classified as

held for sale or as held for distribution to owners 5,768.00
Total current assets 3,306,362.00
Non-current assets
Other financial assets 58,700.00
Other non-financial assets 233,741.00
Accounts receivable 5,381.00
Intangible assets other than goodwill 1,441,072.00
Goodwill 2,294,072.00
Property, plant and equipment 9,953,365.00
Current tax assets 757.00
Deferred tax assets 273,327.00
Total non-current assets 14,260,415.00
Total assets 17,566,777.00
LIABILITIES
Current liabilities
Other financial liabilities 1,430,789.00
Trade and other accounts payables 1,674,303.00
Accounts payable to related entities 382.00
Other provisions 4,794.00
Current tax liabilities 3,738.00
Other non-financial liabilities 2,454,746.00
Total current liabilities other than non - (or disposal
groups) classified as held for sale 5,568,752.00
Liabilities included in disposal groups classified as
held for sale
Total current liabilities 5,568,752.00
Non-current liabilities
Other financial liabilities 5,864,910.00
Accounts payable 483,656.00
Other provisions 303,495.00
Deferred tax liabilities 872,121.00
Employee benefits 82,365.00
Other non-financial liabilities 644,702.00
Total non-current liabilities 8,251,249.00
Total liabilities 13,820,001.00
EQUITY
Share capital 3,146,265.00
Retained earnings 597,675.00
Treasury Shares (178.00)
Other reserves (76,926.00)
Parent's ownership interest 3,666,836.00
Non-controlling interest 79,940.00
Total equity 3,746,776.00
Total liabilities and equity 17,566,777.00

2018
 P&L
REVENUE 9,895,456.00 100.00%
COSTS (8,582,043.00) -86.73%
GROSS PROFIT 1,313,413.00 13.27%
OPEX excl. DEPRECIATIONS & AMORTIZATIONS 268,278.00 2.71%
EBITDA 1,581,691.00 15.98%
DEPRECIATIONS & AMORTIZATIONS (981,646.00) -9.92%
OPERATING PROFIT (LOSS) 600,045.00 6.06%
FINANCIAL INCOME (EXPENSES) (303,016.00) -3.06%
INCOME (LOSS) BEFORE TAX 297,029.00 3.00%
INCOME TAXES (83,782.00) -0.85%
NET INCOME (LOSS) 213,247.00 2.15%

BALANCE ASSETS
ASSETS
CURRENT ASSETS
CASH & EQUIVALENTS 1,465,626.00 8.48%
ACCOUNTS RECEIVABLES 1,165,513.00 6.74%
INVENTORIES 279,344.00 1.62%
OTHER CURRENT ASSETS 395,879.00 2.29%
TOTAL CURRENT ASSETS 3,306,362.00 19.12%
NON-CURRENT ASSETS
FIXED ASSETS 13,688,509.00 79.15%
INVESTMENTS 292,441.00 1.69%
OTHER NON-CURRENT ASSETS 6,138.00 0.04%
TOTAL NON-CURRENT ASSETS 13,987,088.00 80.88%
TOTAL ASSETS 17,293,450.00 100.00%

LIABILITIES
CURRENT LIABILITIES
FINANCIAL OBLIGATIONS 1,430,789.00 10.56%
COMMERCIAL OBLIGATIONS 1,674,685.00 12.36%
OTHER CURRENT LIABILITIES 2,463,278.00 18.18%
TOTAL CURRENT LIABILITIES 5,568,752.00 41.11%
NON-CURRENT LIABILITIES
FINANCIAL OBLIGATIONS 5,947,275.00 43.90%
COMMERCIAL OBLIGATIONS 787,151.00 5.81%
OTHER NON-CURRENT LIABILITIES 1,243,496.00 9.18%
TOTAL NON-CURRENT LIABILITIES 7,977,922.00 58.89%
TOTAL LIABILITIES 13,546,674.00 100.00%

EQUITY
SHARES CAPITAL 3,146,265.00 18.19%
RESERVES & SUPERAVIT (DEFICIT) (77,104.00) -0.45%
RETAINED EARNINGS (ACCUMULATED LOSSES) 677,615.00 3.92%
TOTAL EQUITY 3,746,776.00 21.67%
TOTAL LIABILITIES + EQUITY 17,293,450.00 100.00%
CHECK-LINE 0.00

SELF RESOURCES 3,746,776.00 21.67%

SPONTANEOUS RESOURCES 6,168,610.00 35.67%
FORCED RESOURCES 7,378,064.00 42.66%

WORKING CAPITAL (2,262,390.00)

DAHSBOARD:
 2017 2016
9,613,907.00 8,988,340.00
(7,441,849.00) (6,967,037.00)
2,172,058.00 2,021,303.00
549,889.00 538,748.00
(699,600.00) (747,426.00)
(938,931.00) (872,954.00)
(368,883.00) (373,738.00)
(7,754.00) (72,634.00)
706,779.00 493,299.00
78,695.00 74,949.00
(393,286.00) (416,336.00)
(18,718.00) 121,651.00
748.00 311.00
374,218.00 273,874.00
(173,504.00) (163,204.00)
200,714.00 110,670.00
155,304.00 69,220.00
45,410.00 41,450.00
200,714.00 110,670.00

1,142,004.00 949,327.00
559,919.00 712,828.00
221,188.00 212,242.00
1,214,050.00 1,107,889.00
2,582.00 554.00
236,666.00 241,363.00
77,987.00 65,377.00

3,454,396.00 3,289,580.00

291,103.00 337,195.00
3,745,499.00 3,626,775.00

88,090.00 102,125.00
 220,807.00 237,344.00
6,891.00 8,254.00
1,617,247.00 1,610,313.00
2,672,550.00 2,710,382.00
10,065,335.00 10,498,149.00
17,532.00 20,272.00
364,021.00 384,580.00
15,052,473.00 15,571,419.00
18,797,972.00 19,198,194.00

1,300,949.00 1,839,528.00
1,695,202.00 1,593,068.00
760.00 269.00
2,783.00 2,643.00
3,511.00 14,286.00
2,823,963.00 2,762,245.00

5,827,168.00 6,212,039.00

15,546.00 10,152.00
5,842,714.00 6,222,191.00

6,605,508.00 6,796,952.00
498,832.00 359,391.00
374,593.00 422,494.00
949,697.00 915,759.00
101,087.00 82,322.00
158,305.00 213,781.00
8,688,022.00 8,790,699.00
14,530,736.00 15,012,890.00

3,146,265.00 3,149,564.00
475,118.00 366,404.00
(178.00) (178.00)
554,884.00 580,870.00
4,176,089.00 4,096,660.00
91,147.00 88,644.00
4,267,236.00 4,185,304.00
18,797,972.00 19,198,194.00

2017 2016 2018/16 2017/16

 9,613,907.00 100.00% 8,988,340.00 100.0% 10.09% 6.96%
(8,141,449.00) -84.68% (7,714,463.00) -85.8% 11.25% 5.53%
1,472,458.00 15.32% 1,273,877.00 14.2% 3.10% 15.59%
217,976.00 2.27% 301,712.00 3.4% -11.08% -27.75%
1,690,434.00 17.58% 1,575,589.00 17.5% 0.39% 7.29%
(1,001,625.00) -10.42% (960,328.00) -10.7% 2.22% 4.30%
688,809.00 7.16% 615,261.00 6.8% -2.47% 11.95%
(314,591.00) -3.27% (341,387.00) -3.8% -11.24% -7.85%
374,218.00 3.89% 273,874.00 3.0% 8.45% 36.64%
(173,504.00) -1.80% (163,204.00) -1.8% -48.66% 6.31%
200,714.00 2.09% 110,670.00 1.2% 92.69% 81.36%

1,701,923.00 9.24% 1,662,155.00 8.84% -11.82% 2.39%

1,216,632.00 6.61% 1,108,443.00 5.89% 5.15% 9.76%
236,666.00 1.28% 241,363.00 1.28% 15.74% -1.95%
574,732.00 3.12% 604,662.00 3.22% -34.53% -4.95%
3,729,953.00 20.25% 3,616,623.00 19.23% -8.58% 3.13%

14,355,132.00 77.94% 14,818,844.00 78.81% -7.63% -3.13%

308,897.00 1.68% 339,469.00 1.81% -13.85% -9.01%
24,423.00 0.13% 28,526.00 0.15% -78.48% -14.38%
14,688,452.00 79.75% 15,186,839.00 80.77% -7.90% -3.28%
18,418,405.00 100.00% 18,803,462.00 100.00% -8.03% -2.05%

1,300,949.00 9.19% 1,839,528.00 12.58% -22.22% -29.28%

1,695,962.00 11.98% 1,593,337.00 10.90% 5.11% 6.44%
2,830,257.00 20.00% 2,779,174.00 19.01% -11.37% 1.84%
5,827,168.00 41.18% 6,212,039.00 42.50% -10.36% -6.20%

6,706,595.00 47.39% 6,879,274.00 47.06% -13.55% -2.51%

873,425.00 6.17% 781,885.00 5.35% 0.67% 11.71%
743,981.00 5.26% 744,960.00 5.10% 66.92% -0.13%
8,324,001.00 58.82% 8,406,119.00 57.50% -5.09% -0.98%
14,151,169.00 100.00% 14,618,158.00 100.00% -7.33% -3.19%

3,146,265.00 17.08% 3,149,564.00 16.75% -0.10% -0.10%

 554,706.00 3.01% 580,692.00 3.09% -113.28% -4.48%
566,265.00 3.07% 455,048.00 2.42% 48.91% 24.44%
4,267,236.00 23.17% 4,185,304.00 22.26% -10.48% 1.96%
18,418,405.00 100.00% 18,803,462.00 100.00% -8.03% -2.05%
0.00 0.00

4,267,236.00 23.17% 4,185,304.00 22.26% -10.48% 1.96%

6,143,625.00 33.36% 5,899,356.00 31.37% 4.56% 4.14%
8,007,544.00 43.48% 8,718,802.00 46.37% -15.38% -8.16%

(2,097,215.00) -11.39% (2,595,416.00) -13.80% -12.83% -19.20%

 LATAM

2018 2017
Revenue 9,895,456.00 9,613,907.00
Cost of sales (7,962,843.00) (7,441,849.00)
Gross margin 1,932,613.00 2,172,058.00
Other income 472,758.00 549,889.00
Distribution costs (619,200.00) (699,600.00)
Administrative expenses (721,270.00) (938,931.00)
Other expenses (359,781.00) (368,883.00)
Other gains/(losses) 53,499.00 (7,754.00)
Income from operation activities 758,619.00 706,779.00
Financial income 53,253.00 78,695.00
Financial costs (356,269.00) (393,286.00)
Foreign exchange gains/(losses) (157,709.00) (18,718.00)
Result of indexation units (865.00) 748.00
Income (loss) before taxes 297,029.00 374,218.00
Income tax expense / benefit (83,782.00) (173,504.00)
NET INCOME (LOSS) FOR THE PERIOD 213,247.00 200,714.00
Income (loss) attributable to owners of the parent 181,935.00 155,304.00
Income (loss) attributable to non-controlling interest 31,312.00 45,410.00
Net income (loss) for the year 213,247.00 200,714.00

BALANCE SHEET
ASSETS
Current assets
Cash and cash equivalents 1,081,642.00 1,142,004.00
Other financial assets 383,984.00 559,919.00
Other non-financial assets 320,977.00 221,188.00
Trade and other accounts receivable 1,162,582.00 1,214,050.00
Accounts receivable from related entities 2,931.00 2,582.00
Inventories 279,344.00 236,666.00
Total current assets other than non-current assets (or
Current
disposaltax assetsclassified as held for sale or as held
groups) 69,134.00 77,987.00
for distribution to owners 3,300,594.00 3,454,396.00
Non-current assets (or disposal groups)
classified as held for sale or as held for
distribution to owners 5,768.00 291,103.00
Total current assets 3,306,362.00 3,745,499.00
Non-current assets
Other financial assets 58,700.00 88,090.00
Other non-financial assets 233,741.00 220,807.00
Accounts receivable 5,381.00 6,891.00
Intangible assets other than goodwill 1,441,072.00 1,617,247.00
Goodwill 2,294,072.00 2,671,550.00
Property, plant and equipment 9,953,365.00 10,065,335.00
Current tax assets 757.00 17,532.00
Deferred tax assets 273,327.00 364,021.00
Total non-current assets 14,260,415.00 15,052,473.00
Total assets 17,566,777.00 18,797,972.00
LIABILITIES
Current liabilities
Other financial liabilities 1,430,789.00 1,300,949.00
Trade and other accounts payables 1,674,303.00 1,695,202.00
Accounts payable to related entities 382.00 760.00
Other provisions 4,794.00 2,783.00
Current tax liabilities 3,738.00 3,511.00
Other non-financial liabilities 2,454,746.00 2,823,963.00
Total current liabilities other than non - (or
disposal groups) classified as held for sale 5,568,752.00 5,827,168.00
Liabilities included in disposal groups classified
as held for sale 15,546.00
Total current liabilities 5,568,752.00 5,842,714.00
Non-current liabilities
Other financial liabilities 5,864,910.00 6,605,508.00
Accounts payable 483,656.00 498,832.00
Other provisions 303,495.00 374,593.00
Deferred tax liabilities 872,121.00 949,697.00
Employee benefits 82,365.00 101,087.00
Other non-financial liabilities 644,702.00 158,305.00
Total non-current liabilities 8,251,249.00 8,688,022.00
Total liabilities 13,820,001.00 14,530,736.00
EQUITY
Share capital 3,146,265.00 3,146,265.00
Retained earnings 597,675.00 47,117.00
Treasury Shares (178.00) (178.00)
Other reserves (76,926.00) 554,885.00
Parent's ownership interest 3,666,836.00 4,176,089.00
Non-controlling interest 79,940.00 91,147.00
Total equity 3,746,776.00 4,267,236.00
Total liabilities and equity 17,566,777.00 18,797,972.00

P&L
REVENUE 9,895,456.00 100.0%
COSTS (7,962,843.00)
GROSS PROFIT 1,932,613.00
OPEX excl. DEPRECIATIONS & AMORTIZATIONS (415,375.00)
EBITDA
DEPRECIATIONS & AMORTIZATIONS
OPERATING PROFIT (LOSS)
FINANCIAL INCOME (EXPENSES) (461,590.00)
INCOME (LOSS) BEFORE TAX
INCOME TAX (83,782.00)
NET INCOME (LOSS)

BALANCE SHEET
ASSETS
CURRENT ASSETS
CASH & EQUIVALENTS
ACCOUNTS RECEIVABLE
INVENTORIES
OTHER CURRENT ASSETS
TOTAL CURRENT ASSETS
NON-CURRENT ASSETS
FIXED ASSETS
INVESTMENTS
OTHER NON-CURRENT ASSETS
TOTAL NON-CURRENT ASSETS
TOTAL ASSETS
LIABILITIES
CURRENT LIABILITIES
FINANCIAL OBLIGATIONS
COMERCIAL OBLIGATIONS
OTHER CURRENT LIABILITIES
TOTAL CURRENT LIABILITIES
NON-CURRENT LIABILITIES
FINANCIAL OBLIGATIONS
COMERCIAL OBLIGATIONS
OTHER NON-CURRENT LIABILITIES
TOTAL NON-CURRENT LIABILITIES
TOTAL LIABILITIES
EQUITY
SHARES CAPITAL (STOCK)
RESERVES & SUPERAVIT (DEFICIT)
RETAINED EARNINGS (ACUMULATED LOSSES)
TOTAL EQUITY
TOTAL LIABILITIES + EQUITY
CHECK-LINE
SELF-RESOURCES
ESPONTANEOUS RESOURCES
FOCED RESOURCED

WORKING CAPITAL
 2016
8,988,340.00
(6,967,037.00)
2,021,303.00
538,748.00
(747,426.00)
(872,954.00)
(373,738.00)
(72,634.00)
493,299.00
74,949.00
(416,336.00)
121,651.00
311.00
273,874.00
(163,204.00)
110,670.00
69,220.00
41,450.00
110,670.00

949,327.00
712,828.00
212,242.00
1,107,889.00
554.00
241,363.00
65,377.00
3,289,580.00

337,195.00
3,626,775.00

102,125.00
237,344.00
8,254.00
 1,610,313.00
2,710,382.00
10,498,149.00
20,272.00
384,580.00
15,571,419.00
19,198,194.00

1,839,528.00
1,593,068.00
269.00
2,643.00
14,286.00
2,762,245.00

6,212,039.00

10,152.00
6,222,191.00

6,796,952.00
359,391.00
422,949.00
915,759.00
82,322.00
213,781.00
8,790,699.00
15,012,890.00

3,149,564.00
366,404.00
(178.00)
580,870.00
4,096,660.00
88,644.00
4,185,304.00
19,198,194.00