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Segment information (Tables) | 12 Months Ended
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Jun. 30, 2018
Segment Information |
Schedule of Group's lines of business and a reconciliation between the results from operations as per segment information | Below is a summary of the Group’s lines of business and a reconciliation between the results from operations as per segment information and the results from operations as per the Statements of Income for the years ended June 30, 2018, 2017 and 2016:
| June 30, 2018
| Operations Center in Argentina | Operations Center in Israel | Total | Joint ventures (1) | Discontinued operations (2) | Expensesand collectivepromotion funds | Elimination of inter-segment transactions and non-reportable assets / liabilities (3) | Total as per statement of income / statement of financial position
Revenues | 5,308 | 86,580 | 91,888 | (46) | (60,470) | 1,726 | (10) | 33,088
Costs | (1,066) | (61,395) | (62,461) | 29 | 44,563 | (1,760) | - | (19,629)
Gross profit | 4,242 | 25,185 | 29,427 | (17) | (15,907) | (34) | (10) | 13,459
Net gain from fair value adjustment of investment properties | 21,347 | 2,160 | 23,507 | (738) | (164) | - | - | 22,605
General and administrative expenses | (903) | (3,870) | (4,773) | 13 | 878 | - | 13 | (3,869)
Selling expenses | (432) | (16,986) | (17,418) | 6 | 12,749 | - | - | (4,663)
Other operating results, net | (78) | 467 | 389 | 19 | 177 | - | (3) | 582
Profit / (loss) from operations | 24,176 | 6,956 | 31,132 | (717) | (2,267) | (34) | - | 28,114
Share of (loss) / profit of associates and joint ventures | (1,269) | (43) | (1,312) | 611 | (20) | - | - | (721)
Segment profit / (loss) | 22,907 | 6,913 | 29,820 | (106) | (2,287) | (34) | - | 27,393
Reportable assets | 66,443 | 266,802 | 333,245 | (347) | - | - | 16,178 | 349,076
Reportable liabilities | - | (215,452) | (215,452) | - | - | - | (45,780) | (261,232)
Net reportable assets | 66,443 | 51,350 | 117,793 | (347) | - | - | (29,602) | 87,844
| June 30, 2017
| Operations Center in Argentina | Operations Center in Israel | Total | Joint ventures (1) | Discontinued operations (2) | Expensesand collectivepromotion funds | Elimination of inter-segment transactions and non-reportable assets / liabilities (3) | Total as per statement of income / statement of financial position
Revenues | 4,311 | 68,422 | 72,733 | (41) | (47,168) | 1,490 | (10) | 27,004
Costs | (912) | (49,110) | (50,022) | 18 | 35,488 | (1,517) | - | (16,033)
Gross profit | 3,399 | 19,312 | 22,711 | (23) | (11,680) | (27) | (10) | 10,971
Net gain from fair value adjustment of investment properties | 4,271 | 374 | 4,645 | (192) | (113) | - | - | 4,340
General and administrative expenses | (683) | (3,173) | (3,856) | 5 | 624 | - | 8 | (3,219)
Selling expenses | (355) | (13,093) | (13,448) | 5 | 9,434 | - | 2 | (4,007)
Other operating results, net | (68) | (196) | (264) | (6) | 64 | - | - | (206)
Profit / (loss) from operations | 6,564 | 3,224 | 9,788 | (211) | (1,671) | (27) | - | 7,879
Share of (loss) / profit of associates and joint ventures | (94) | 105 | 11 | 174 | (76) | - | - | 109
Segment profit / (loss) | 6,470 | 3,329 | 9,799 | (37) | (1,747) | (27) | - | 7,988
Reportable assets | 44,885 | 178,964 | 223,849 | (193) | - | - | 7,586 | 231,242
Reportable liabilities | - | (155,235) | (155,235) | - | - | - | (28,671) | (183,906)
Net reportable assets | 44,885 | 23,729 | 68,614 | (193) | - | - | (21,085) | 47,336
| June 30, 2016
| Operations Center in Argentina | Operations Center in Israel | Total | Joint ventures (1) | Discontinued operations (2) | Expensesand collectivepromotion funds | Elimination of inter-segment transactions and non-reportable assets / liabilities (3) | Total as per statement of income / statement of financial position
Revenues | 3,289 | 27,077 | 30,366 | (29) | (18,607) | 1,194 | (8) | 12,916
Costs | (658) | (19,252) | (19,910) | 12 | 14,063 | (1,207) | 6 | (7,036)
Gross profit | 2,631 | 7,825 | 10,456 | (17) | (4,544) | (13) | (2) | 5,880
Net gain / (loss) from fair value adjustment of investment properties | 18,209 | (271) | 17,938 | (379) | (23) | - | - | 17,536
General and administrative expenses | (487) | (1,360) | (1,847) | 1 | 200 | - | 7 | (1,639)
Selling expenses | (264) | (5,442) | (5,706) | 2 | 3,862 | - | - | (1,842)
Other operating results, net | (12) | (32) | (44) | (2) | 19 | - | (5) | (32)
Profit / (loss) from operations | 20,077 | 720 | 20,797 | (395) | (486) | (13) | - | 19,903
Share of profit of associates and joint ventures | 127 | 123 | 250 | 258 | - | - | - | 508
Segment profit / (loss) | 20,204 | 843 | 21,047 | (137) | (486) | (13) | - | 20,411
Reportable assets | 39,294 | 147,470 | 186,764 | (142) | - | - | 5,519 | 192,141
Reportable liabilities | - | (132,989) | (132,989) | - | - | - | (23,296) | (156,285)
Net reportable assets | 39,294 | 14,481 | 53,775 | (142) | - | - | (17,777) | 35,856
(1) Represents the equity value of joint ventures that were proportionately consolidated for information by segment purposes. (2) Corresponds to Shufersal’s deconsolidation, the Group lost control in June 2018. See Note 4.G. (3) Includes deferred income tax assets, income tax and MPIT credits, trade and other receivables, investment in financial assets, cash and cash equivalents and intangible assets except for rights to receive future units under barter agreements, net of investments in associates with negative equity which are included in provisions in the amount of Ps. 2,452, Ps. 72 and Ps. 45, as of June 30, 2018, 2017 and 2016, respectively. Below is a summarized analysis of the lines of business of Group’s operations center in Argentina for the fiscal years ended June 30, 2018, 2017 and 2016:
| June 30, 2018
| Operations Center in Argentina
| Shopping Malls | Offices | Sales and developments | Hotels | International | Corporate | Others | Total
Revenues | 3,665 | 532 | 120 | 973 | - | - | 18 | 5,308
Costs | (330) | (45) | (44) | (624) | - | - | (23) | (1,066)
Gross profit / (loss) | 3,335 | 487 | 76 | 349 | - | - | (5) | 4,242
Net gain from fair value adjustment of investment properties | 11,340 | 5,004 | 4,771 | - | - | - | 232 | 21,347
General and administrative expenses | (320) | (87) | (78) | (193) | (46) | (151) | (28) | (903)
Selling expenses | (238) | (57) | (21) | (114) | - | - | (2) | (432)
Other operating results, net | (57) | (4) | 11 | (17) | (23) | - | 12 | (78)
Profit / (loss) from operations | 14,060 | 5,343 | 4,759 | 25 | (69) | (151) | 209 | 24,176
Share of profit of associates and joint ventures (**) | - | - | 26 | - | (1,923) | - | 628 | (1,269)
Segment profit / (loss) | 14,060 | 5,343 | 4,785 | 25 | (1,992) | (151) | 837 | 22,907
Investment properties and trading properties | 40,468 | 13,132 | 10,669 | - | - | - | 625 | 64,894
Investment in associates and joint ventures (*) | - | - | 163 | - | (1,740) | - | 2,595 | 1,018
Other operating assets | 82 | 42 | 46 | 172 | 89 | - | 100 | 531
Operating assets | 40,550 | 13,174 | 10,878 | 172 | (1,651) | - | 3,320 | 66,443
(*) Includes the investments in Condor for Ps. 697 and New Lipstick for Ps. (2,437). See Note 18. (**) Includes the results of New Lipstick for Ps. (2,380). See Note 18
Schedule of lines of business of groups operations center |
| June 30, 2017
| Operations Center in Argentina
| Shopping Malls | Offices | Sales and developments | Hotels | International | Corporate | Others | Total
Revenues | 3,047 | 434 | 99 | 725 | - | - | 6 | 4,311
Costs | (350) | (29) | (43) | (486) | - | - | (4) | (912)
Gross profit | 2,697 | 405 | 56 | 239 | - | - | 2 | 3,399
Net gain from fair value adjustment of investment properties | 2,068 | 1,359 | 849 | - | - | - | (5) | 4,271
General and administrative expenses | (261) | (70) | (40) | (135) | (43) | (132) | (2) | (683)
Selling expenses | (188) | (46) | (21) | (97) | - | - | (3) | (355)
Other operating results, net | (58) | (12) | (36) | (1) | 27 | - | 12 | (68)
Profit / (loss) from operations | 4,258 | 1,636 | 808 | 6 | (16) | (132) | 4 | 6,564
Share of profit of associates and joint ventures | - | - | 14 | - | (196) | - | 88 | (94)
Segment profit / (loss) | 4,258 | 1,636 | 822 | 6 | (212) | (132) | 92 | 6,470
Investment properties and trading properties | 28,799 | 7,422 | 5,326 | - | - | - | 247 | 41,794
Investment in associates and joint ventures | - | - | 95 | - | 570 | - | 2,054 | 2,719
Other operating assets | 79 | 77 | 47 | 167 | 2 | - | - | 372
Operating assets | 28,878 | 7,499 | 5,468 | 167 | 572 | - | 2,301 | 44,885
From all the revenues corresponding to the Operations Center in Argentina, the 100% are originated in Argentina. No external client represents 10% or more of revenue of any of the reportable segments. From all of the assets corresponding to the Operations Center in Argentina segments, Ps. 44,123 are located in Argentina and Ps. 762 in other countries, principally in USA for Ps. 570 and Uruguay for Ps. 192.
| June 30, 2016
| Operations Center in Argentina
| Shopping Malls | Offices | Sales and developments | Hotels | International | Corporate | Others | Total
Revenues | 2,409 | 332 | 8 | 534 | - | - | 6 | 3,289
Costs | (250) | (25) | (20) | (361) | - | - | (2) | (658)
Gross profit / (loss) | 2,159 | 307 | (12) | 173 | - | - | 4 | 2,631
Net gain from fair value adjustment of investment properties | 16,132 | 1,268 | 773 | - | - | - | 36 | 18,209
General and administrative expenses | (179) | (85) | (24) | (103) | (24) | (72) | - | (487)
Selling expenses | (145) | (24) | (23) | (69) | - | - | (3) | (264)
Other operating results, net | (63) | (6) | (34) | (2) | 92 | - | 1 | (12)
Profit / (loss) from operations | 17,904 | 1,460 | 680 | (1) | 68 | (72) | 38 | 20,077
Share of profit of associates and joint ventures | - | - | 5 | - | (129) | - | 251 | 127
Segment profit / (loss) | 17,904 | 1,460 | 685 | (1) | (61) | (72) | 289 | 20,204
Investment properties and trading properties | 26,613 | 5,534 | 4,573 | - | - | - | 252 | 36,972
Investment in joint ventures and associates | - | - | 62 | - | 143 | - | 1,762 | 1,967
Other operating assets | 75 | 21 | 93 | 164 | 2 | - | - | 355
Operating assets | 26,688 | 5,555 | 4,728 | 164 | 145 | - | 2,014 | 39,294
From all the revenues corresponding to the Operations Center in Argentina, the 100% are originated in Argentina. No external client represents 10% or more of revenue of any of the reportable segments. From all of the assets corresponding to the Operations Center in Argentina segments, Ps. 38,991 are located in Argentina and Ps. 303 in other countries, principally in USA for Ps. 145 and Uruguay for Ps. 158. Below is a summarized analysis of the lines of business of Group’s operations center in Israel for the years ended June 30, 2018, 2017 and 2016:
| June 30, 2018
| Operations Center in Israel
| Real Estate | Supermarkets | Telecommunications | Insurance | Corporate | Others | Total
Revenues | 6,180 | 60,470 | 19,347 | - | - | 583 | 86,580
Costs | (2,619) | (44,563) | (13,899) | - | - | (314) | (61,395)
Gross profit | 3,561 | 15,907 | 5,448 | - | - | 269 | 25,185
Net gain from fair value adjustment of investment properties | 1,996 | 164 | - | - | - | - | 2,160
General and administrative expenses | (363) | (878) | (1,810) | - | (374) | (445) | (3,870)
Selling expenses | (115) | (12,749) | (3,974) | - | - | (148) | (16,986)
Other operating results, net | 98 | (177) | 140 | - | 434 | (28) | 467
Profit / (loss) from operations | 5,177 | 2,267 | (196) | - | 60 | (352) | 6,956
Share of profit / (loss) of associates and joint ventures | 167 | 20 | - | - | - | (230) | (43)
Segment profit / (loss) | 5,344 | 2,287 | (196) | - | 60 | (582) | 6,913
Operating assets | 134,038 | 13,304 | 49,797 | 12,254 | 21,231 | 36,178 | 266,802
Operating liabilities | (104,202) | - | (38,804) | (1,214) | (68,574) | (2,658) | (215,452)
Operating assets (liabilities), net | 29,836 | 13,304 | 10,993 | 11,040 | (47,343) | 33,520 | 51,350
| June 30, 2017
| Operations Center in Israel
| Real Estate | Supermarkets | Telecommunications | Insurance | Corporate | Others | Total
Revenues | 4,918 | 47,277 | 15,964 | - | - | 263 | 68,422
Costs | (2,333) | (35,432) | (11,183) | - | - | (162) | (49,110)
Gross profit | 2,585 | 11,845 | 4,781 | - | - | 101 | 19,312
Net gain from fair value adjustment of investment properties | 261 | 113 | - | - | - | - | 374
General and administrative expenses | (290) | (627) | (1,592) | - | (384) | (280) | (3,173)
Selling expenses | (91) | (9,517) | (3,406) | - | - | (79) | (13,093)
Other operating results, net | 46 | (52) | (36) | - | (48) | (106) | (196)
Profit / (loss) from operations | 2,511 | 1,762 | (253) | - | (432) | (364) | 3,224
Share of profit / (loss) of associates and joint ventures | 46 | 75 | - | - | - | (16) | 105
Segment profit / (loss) | 2,557 | 1,837 | (253) | - | (432) | (380) | 3,329
Operating assets | 79,427 | 38,521 | 31,648 | 8,562 | 14,734 | 6,072 | 178,964
Operating liabilities | (64,100) | (29,239) | (25,032) | - | (33,705) | (3,159) | (155,235)
Operating assets (liabilities), net | 15,327 | 9,282 | 6,616 | 8,562 | (18,971) | 2,913 | 23,729
| June 30, 2016
| Operations Center in Israel
| Real Estate | Supermarkets | Telecommunications | Insurance | Corporate | Others | Total
Revenues | 1,538 | 18,610 | 6,655 | - | - | 274 | 27,077
Costs | (467) | (14,076) | (4,525) | - | - | (184) | (19,252)
Gross profit | 1,071 | 4,534 | 2,130 | - | - | 90 | 7,825
Net (loss) / gain from fair value adjustment of investment properties | (294) | 23 | - | - | - | - | (271)
General and administrative expenses | (100) | (203) | (708) | - | (321) | (28) | (1,360)
Selling expenses | (29) | (3,907) | (1,493) | - | - | (13) | (5,442)
Other operating results, net | (19) | (13) | - | - | - | - | (32)
Profit / (loss) from operations | 629 | 434 | (71) | - | (321) | 49 | 720
Share of profit / (loss) of associates and joint ventures | 226 | - | - | - | - | (103) | 123
Segment profit / (loss) | 855 | 434 | (71) | - | (321) | (54) | 843
Operating assets | 60,678 | 29,440 | 27,345 | 4,602 | 1,753 | 23,652 | 147,470
Operating liabilities | (49,576) | (23,614) | (21,657) | - | (10,441) | (27,701) | (132,989)
Operating assets (liabilities), net | 11,102 | 5,826 | 5,688 | 4,602 | (8,688) | (4,049) | 14,481

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