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PARENT COMPANY FINANCIAL INFORMATION | 12 Months Ended
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Dec. 31, 2022
Parent Company Financial Information Abstract |
PARENT COMPANY FINANCIAL INFORMATION | NOTE 36 - PARENT COMPANY FINANCIAL INFORMATION In accordance with the requirements of SEC Rule 12-04(a) and 5-04(c) of Regulation S-X, which require condensed financial information for the financial position, changes in financial position and results of operations and cash flows of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. As of December 31, 2021 due to Chapter 11 some subsidiaries are restricted to transfer dividends to the Parent Company. The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the accompanying consolidated financial statements and include the investment in subsidiaries accounted for using the equity method.
ASSETS |  |  |  |  |  |
|  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
|  |  |  |  | ThUS$ |
Cash and cash equivalents |  |  |  |  |  |
Cash and cash equivalents |  |  | 632,826 |  |  |  | 549,766 |
Other financial assets |  |  | 155,093 |  |  |  | 78,706 |
Other non-financial assets |  |  | 59,828 |  |  |  | 38,557 |
Trade and other accounts receivable |  |  | 380,204 |  |  |  | 400,540 |
Accounts receivable from related entities |  |  | 3,090,910 |  |  |  | 933,853 |
Inventories |  |  | 206,690 |  |  |  | 121,949 |
Current tax assets |  |  | 357 |  |  |  | 4,846 |
Total current assets other than non-current assets (or disposal groups) classified as held for sale |  |  | 4,525,908 |  |  |  | 2,128,217 |
Non-current assets (or disposal groups) classified as held for sale |  |  | 61,979 |  |  |  | 161,347 |
Total current assets |  |  | 4,587,887 |  |  |  | 2,289,564 |
Non-current assets |  |  |  |  |  |  |  |
Other financial assets |  |  | 6,086 |  |  |  | 8,804 |
Investments accounted for using the equity method |  |  | 8,041,156 |  |  |  | 8,065,391 |
Other non-financial assets |  |  | 8,636 |  |  |  | 12,344 |
Accounts receivable |  |  | 10,900 |  |  |  | 10,551 |
Accounts receivable from related entities |  |  | 33,551 |  |  |  | 48,008 |
Intangible assets other than goodwill |  |  | 228,940 |  |  |  | 213,822 |
Property, plant and equipment |  |  | 7,176,141 |  |  |  | 7,980,150 |
Deferred tax assets |  |  | - |  |  |  | - |
Total non-current assets |  |  | 15,505,410 |  |  |  | 16,339,070 |
Total assets |  |  | 20,093,297 |  |  |  | 18,628,634 |
LIABILITIES AND EQUITY |  |  |  |  |  |
|  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
|  | ThUS$ |  |  | ThUS$ |
LIABILITIES |  |  |  |  |  |
Current liabilities |  |  |  |  |  |
Other financial liabilities |  |  | 465,310 |  |  |  | 3,777,465 |
Trade and other accounts payables |  |  | 692,841 |  |  |  | 3,670,381 |
Accounts payable to related entities |  |  | 411,898 |  |  |  | 1,650,246 |
Other provisions |  |  | 883 |  |  |  | 99 |
Current tax liabilities |  |  | - |  |  |  | - |
Other non-financial liabilities |  |  | 1,651,621 |  |  |  | 1,487,629 |
Total current liabilities other than (or disposal groups) classified as held for sale |  |  | 3,222,553 |  |  |  | 10,585,820 |
Liabilities included in disposal groups classified as held for sale |  |  | - |  |  |  | - |
Total current liabilities |  |  | 3,222,553 |  |  |  | 10,585,820 |
Non-current liabilities |  |  |  |  |  |  |  |
Other financial liabilities |  |  | 5,720,415 |  |  |  | 4,041,347 |
Accounts payable |  |  | 279,245 |  |  |  | 303,309 |
Accounts payable to related entities |  |  | 177,779 |  |  |  | 177,779 |
Other provisions |  |  | 10,175,678 |  |  |  | 10,045,195 |
Employee benefits |  |  | 68,740 |  |  |  | 33,145 |
Other non-financial liabilities |  |  | 418,166 |  |  |  | 508,943 |
Total non-current liabilities |  |  | 16,840,023 |  |  |  | 15,109,718 |
Total liabilities |  |  | 20,062,576 |  |  |  | 25,695,538 |
EQUITY |  |  |  |  |  |  |  |
Share capital |  |  | 13,298,486 |  |  |  | 3,146,265 |
Retained earnings/(losses) |  |  | (7,501,896 | ) |  |  | (8,841,106 | )
Treasury Shares |  |  | (178 | ) |  |  | (178 | )
Other equity |  |  | 39 |  |  |  | - |
Other reserves |  |  | (5,754,173 | ) |  |  | (1,361,529 | )
Parent’s ownership interest |  |  | 42,278 |  |  |  | (7,056,548 | )
Non-controlling interest |  |  | (11,557 | ) |  |  | (10,356 | )
Total equity |  |  | 30,721 |  |  |  | (7,066,904 | )
Total liabilities and equity |  |  | 20,052,794 |  |  |  | 18,628,634 |
|  | For the year ended |
|  | December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Revenue |  |  | 2,502,673 |  |  |  | 1,485,841 |  |  |  | 1,272,077 |
Cost of sales |  |  | (2,628,251 | ) |  |  | (1,964,137 | ) |  |  | (2,099,716 | )
Gross margin |  |  | (125,578 | ) |  |  | (478,296 | ) |  |  | (827,639 | )
Other income |  |  | 1,013,438 |  |  |  | 712,997 |  |  |  | 948,160 |
Distribution costs |  |  | (126,539 | ) |  |  | (134,366 | ) |  |  | (125,563 | )
Administrative expenses |  |  | (274,358 | ) |  |  | (199,409 | ) |  |  | (225,557 | )
Other expenses |  |  | (257,558 | ) |  |  | (197,737 | ) |  |  | (154,582 | )
Restructuring activities expenses |  |  | 1,581,372 |  |  |  | (2,177,754 | ) |  |  | (837,673 | )
Other gains/(losses) |  |  | (272,862 | ) |  |  | 39,471 |  |  |  | (98,790 | )
Income from operation activities |  |  | 1,537,915 |  |  |  | (2,435,094 | ) |  |  | (1,321,644 | )
Financial income |  |  | 652,263 |  |  |  | 8,905 |  |  |  | 11,812 |
Financial costs |  |  | (743,704 | ) |  |  | (579,304 | ) |  |  | (410,153 | )
Share of profit of investments accounted for using the equity method |  |  | (115,985 | ) |  |  | (1,168,898 | ) |  |  | (3,537,259 | )
Foreign exchange gains/(losses) |  |  | 11,377 |  |  |  | 72,888 |  |  |  | (66,004 | )
Result of indexation units |  |  | (56 | ) |  |  | (799 | ) |  |  | - |
Income (loss) before taxes |  |  | 1,341,810 |  |  |  | (4,102,302 | ) |  |  | (5,323,248 | )
Income tax expense / benefit |  |  | (4,673 | ) |  |  | (550,840 | ) |  |  | 767,713 |
NET INCOME (LOSS) |  |  | 1,337,137 |  |  |  | (4,653,142 | ) |  |  | (4,555,535 | )
|  | For the year ended |
|  | December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Cash flows from operating activities |  |  |  |  |  |  |  |  |
Cash collection from operating activities |  |  |  |  |  |  |  |  |
Proceeds from sales of goods and services |  |  | 4,110,719 |  |  |  | 2,046,751 |  |  |  | 2,240,961 |
Other cash receipts from operating activities |  |  | 99,874 |  |  |  | 38,268 |  |  |  | 52,192 |
Payments for operating activities |  |  |  |  |  |  |  |  |  |  |  |
Payments to suppliers for goods and services |  |  | (4,127,400 | ) |  |  | (2,075,236 | ) |  |  | (1,713,223 | )
Payments to and on behalf of employees |  |  | (320,849 | ) |  |  | (295,030 | ) |  |  | (298,370 | )
Other payments for operating activities |  |  | (65,019 | ) |  |  | (29,363 | ) |  |  | (27,757 | )
Interest received |  |  | - |  |  |  | - |  |  |  | - |
Income taxes (paid) |  |  | (647 | ) |  |  | (898 | ) |  |  | (2,764 | )
Other cash inflows (outflows) |  |  | (55,495 | ) |  |  | (37,992 | ) |  |  | 61,532 |
Net cash flows from operating activities |  |  | (358,817 | ) |  |  | (353,500 | ) |  |  | 312,571 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |
Cash flows from losses of control of subsidiaries or other businesses |  |  | - |  |  |  | 752 |  |  |  | - |
Cash flows used to obtain control of subsidiaries or other businesses |  |  | - |  |  |  | (12,375 | ) |  |  | (349,125 | )
Other cash receipts from sales of equity or debt instruments of other entities |  |  | - |  |  |  | - |  |  |  | 30,439 |
Other payments to acquire equity or debt instruments of other entities |  |  | - |  |  |  | - |  |  |  | (27,199 | )
Amounts raised from sale of property, plant and equipment |  |  | 56,378 |  |  |  | 105,000 |  |  |  | 75,566 |
Purchases of property, plant and equipment |  |  | (705,993 | ) |  |  | (584,289 | ) |  |  | (163,022 | )
Purchases of intangible assets |  |  | (48,458 | ) |  |  | (85,449 | ) |  |  | (70,363 | )
Interest received |  |  | 6,974 |  |  |  | 1,644 |  |  |  | 3,235 |
Other cash inflows (outflows) |  |  | 6,300 |  |  |  | 18,900 |  |  |  | - |
Net cash flow (used in) investing activities |  |  | (684,799 | ) |  |  | (555,817 | ) |  |  | (500,469 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from the issuance of shares |  |  | 549,038 |  |  |  | - |  |  |  | - |
Payments for changes in ownership interests in subsidiaries that do not result in loss of control |  |  | - |  |  |  | - |  |  |  | (3,225 | )
Amounts from the issuance of other equity instruments |  |  | 3,202,790 |  |  |  | - |  |  |  | - |
Amounts raised from long-term loans |  |  | 2,361,875 |  |  |  | 1,665 |  |  |  | 1,361,807 |
Amounts raised from short-term loans |  |  | 4,856,025 |  |  |  | 661,609 |  |  |  | 296,267 |
Loans from Related Entities |  |  | 770,522 |  |  |  | 130,102 |  |  |  | 373,125 |
Loans repayments |  |  | (8,836,572 | ) |  |  | (135,837 | ) |  |  | (749,258 | )
Payments of loans to related entities |  |  | (1,008,483 | ) |  |  | - |  |  |  | - |
Payments of lease liabilities |  |  | (116,012 | ) |  |  | (391,879 | ) |  |  | (90,335 | )
Dividends paid |  |  | - |  |  |  | - |  |  |  | - |
Interest paid |  |  | (501,539 | ) |  |  | (90,585 | ) |  |  | (135,859 | )
Other cash inflows (outflows) |  |  | (150,676 | ) |  |  | (11,034 | ) |  |  | (107,782 | )
Net cash flows (used in) financing activities |  |  | 1,126,968 |  |  |  | 164,041 |  |  |  | 944,740 |
Net increase in cash and cash equivalents before effect of exchanges rate change |  |  | 83,352 |  |  |  | (745,276 | ) |  |  | 756,842 |
Effects of variation in the exchange rate on cash and cash equivalents |  |  | (292 | ) |  |  | - |  |  |  | - |
Net increase (decrease) in cash and cash equivalents |  |  | 83,060 |  |  |  | (745,276 | ) |  |  | 756,842 |
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR |  |  | 549,766 |  |  |  | 1,295,042 |  |  |  | 538,200 |
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR |  |  | 632,826 |  |  |  | 549,766 |  |  |  | 1,295,042 |

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