Financial information by segment (Tables)
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12 Months Ended |
Dec. 31, 2020 |
| Financial information by segment [Abstract] |
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| Revenues and Adjusted EBITDA, assets and liabilities by operating segments and business sectors |
| a) | The following tables show Revenues and Adjusted EBITDA by operating segments and business sectors for the years 2020, 2019 and 2018: |
| | | Revenue | | | Adjusted EBITDA | | | | | For the year ended December 31, | | | For the year ended December 31, | | Geography | | 2020 | | | 2019 | | | 2018 | | | 2020 | | | 2019 | | | 2018 | | North America | | | 330,921 | | | | 332,965 | | | | 357,177 | | | | 272,909 | | | | 305,085 | | | | 308,748 | | South America | | | 151,460 | | | | 142,207 | | | | 123,214 | | | | 120,023 | | | | 115,346 | | | | 100,234 | | EMEA | | | 530,879 | | | | 536,280 | | | | 563,431 | | | | 388,723 | | | | 390,774 | | | | 441,625 | | Total | | | 1,013,260 | | | | 1,011,452 | | | | 1,043,822 | | | | 781,655 | | | | 811,204 | | | | 850,607 | |
| | | Revenue | | | Adjusted EBITDA | | | | | For the year ended December 31, | | | For the year ended December 31, | | Business sectors | | 2020 | | | 2019 | | | 2018 | | | 2020 | | | 2019 | | | 2018 | | Renewable energy | | | 753,089 | | | | 761,090 | | | | 793,557 | | | | 575,660 | | | | 603,666 | | | | 664,428 | | Efficient natural gas | | | 111,030 | | | | 122,281 | | | | 130,799 | | | | 97,864 | | | | 107,457 | | | | 93,858 | | Electric transmission lines | | | 106,042 | | | | 103,453 | | | | 95,998 | | | | 84,584 | | | | 85,657 | | | | 78,461 | | Water | | | 43,099 | | | | 24,629 | | | | 23,468 | | | | 23,548 | | | | 14,424 | | | | 13,860 | | Total | | | 1,013,260 | | | | 1,011,452 | | | | 1,043,822 | | | | 781,655 | | | | 811,204 | | | | 850,607 | |
The reconciliation of segment Adjusted EBITDA with the profit attributable to the parent company is as follows:
| | | For the year ended December 31, | | | | | 2020 | | | 2019 | | | 2018 | | Profit attributable to the Company | | | 11,968 | | | | 62,135 | | | | 41,596 | | Profit attributable to non-controlling interests | | | 4,906 | | | | 12,473 | | | | 13,673 | | Income tax | | | 24,877 | | | | 30,950 | | | | 42,659 | | Share of profit of associates | | | (510 | ) | | | (7,457 | ) | | | (5,231 | ) | Financial expense, net | | | 331,810 | | | | 402,348 | | | | 395,213 | | Depreciation, amortization, and impairment charges | | | 408,604 | | | | 310,755 | | | | 362,697 | | Total segment Adjusted EBITDA | | | 781,655 | | | | 811,204 | | | | 850,607 | |
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| Assets and liabilities by geography |
| b) | The assets and liabilities by operating segments (and business sector) at the end of 2020 and 2019 are as follows: |
Assets and liabilities by geography as of December 31, 2020:
| | North America | | | South America | | | EMEA | | | Balance as of December 31, 2020 | | Assets allocated | | | | | | | | | | | | | Contracted concessional assets | | | 3,073,785 | | | | 1,211,952 | | | | 3,869,681 | | | | 8,155,418 | | Investments carried under the equity method | | | 74,660 | | | | - | | | | 41,954 | | | | 116,614 | | Current financial investments | | | 129,264 | | | | 27,836 | | | | 42,984 | | | | 200,084 | | Cash and cash equivalents (project companies) | | | 206,344 | | | | 70,861 | | | | 255,530 | | | | 532,735 | | Subtotal allocated | | | 3,484,053 | | | | 1,310,649 | | | | 4,210,149 | | | | 9,004,851 | | Unallocated assets | | | | | | | | | | | | | | | | | Other non-current assets | | | | | | | | | | | | | | | 242,044 | | Other current assets (including cash and cash equivalents at holding company level) | | | | | | | | | | | | | | | 691,459 | | Subtotal unallocated | | | | | | | | | | | | | | | 933,503 | | Total assets | | | | | | | | | | | | | | | 9,938,354 | |
| | | North America | | | South America | | | EMEA | | | Balance as of December 31, 2020 | | Liabilities allocated | | | | | | | | | | | | | Long-term and short-term project debt | | | 1,623,284 | | | | 902,500 | | | | 2,711,830 | | | | 5,237,614 | | Grants and other liabilities | | | 1,078,974 | | | | 11,355 | | | | 139,438 | | | | 1,229,767 | | Subtotal allocated | | | 2,702,258 | | | | 913,855 | | | | 2,851,268 | | | | 6,467,381 | | Unallocated liabilities | | | | | | | | | | | | | | | | | Long-term and short-term corporate debt | | | | | | | | | | | | | | | 993,725 | | Other non-current liabilities | | | | | | | | | | | | | | | 589,107 | | Other current liabilities | | | | | | | | | | | | | | | 147,260 | | Subtotal unallocated | | | | | | | | | | | | | | | 1,730,092 | | Total liabilities | | | | | | | | | | | | | | | 8,197,473 | | Equity unallocated | | | | | | | | | | | | | | | 1,740,881 | | Total liabilities and equity unallocated | | | | | | | | | | | | | | | 3,470,973 | | Total liabilities and equity | | | | | | | | | | | | | | | 9,938,354 | |
Assets and liabilities by geography as of December 31, 2019:
| | | North America | | | South America | | | EMEA | | | Balance as of December 31, 2019 | | Assets allocated | | | | | | | | | | | | | Contracted concessional assets | | | 3,299,198 | | | | 1,186,552 | | | | 3,675,379 | | | | 8,161,129 | | Investments carried under the equity method | | | 90,847 | | | | - | | | | 49,078 | | | | 139,925 | | Current financial investments | | | 159,267 | | | | 29,190 | | | | 20,673 | | | | 209,131 | | Cash and cash equivalents (project companies) | | | 181,458 | | | | 80,909 | | | | 234,097 | | | | 496,464 | | Subtotal allocated | | | 3,730,771 | | | | 1,296,652 | | | | 3,979,227 | | | | 9,006,649 | | Unallocated assets | | | | | | | | | | | | | | | | | Other non-current assets | | | | | | | | | | | | | | | 239,553 | | Other current assets (including cash and cash equivalents at holding company level) | | | | | | | | | | | | | | | 413,613 | | Subtotal unallocated | | | | | | | | | | | | | | | 653,166 | | Total assets | | | | | | | | | | | | | | | 9,659,815 | |
| | | North America | | | South America | | | EMEA | | | Balance as of December 31, 2019 | | Liabilities allocated | | | | | | | | | | | | | Long-term and short-term project debt | | | 1,676,251 | | | | 884,835 | | | | 2,291,262 | | | | 4,852,348 | | Grants and other liabilities | | | 1,490,661 | | | | 12,864 | | | | 155,342 | | | | 1,658,867 | | Subtotal allocated | | | 3,166,912 | | | | 897,699 | | | | 2,446,604 | | | | 6,511,215 | | Unallocated liabilities | | | | | | | | | | | | | | | | | Long-term and short-term corporate debt | | | | | | | | | | | | | | | 723,791 | | Other non-current liabilities | | | | | | | | | | | | | | | 547,740 | | Other current liabilities | | | | | | | | | | | | | | | 162,213 | | Subtotal unallocated | | | | | | | | | | | | | | | 1,433,744 | | Total liabilities | | | | | | | | | | | | | | | 7,944,959 | | Equity unallocated | | | | | | | | | | | | | | | 1,714,856 | | Total liabilities and equity unallocated | | | | | | | | | | | | | | | 3,148,600 | | Total liabilities and equity | | | | | | | | | | | | | | | 9,659,815 | |
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| Assets and liabilities by business sectors |
Assets and liabilities by business sectors as of December 31, 2020:
| | | Renewable energy | | | Efficient natural gas | | | Electric transmission lines | | | Water | | | Balance as of December 31, 2020 | | Assets allocated | | | | | | | | | | | | | | | | Contracted concessional assets | | | 6,632,611 | | | | 502,285 | | | | 842,595 | | | | 177,927 | | | | 8,155,418 | | Investments carried under the equity method | | | 61,866 | | | | 15,514 | | | | 30 | | | | 39,204 | | | | 116,614 | | Current financial investments | | | 6,530 | | | | 124,872 | | | | 27,796 | | | | 40,886 | | | | 200,084 | | Cash and cash equivalents (project companies) | | | 397,465 | | | | 67,955 | | | | 46,045 | | | | 21,270 | | | | 532,735 | | Subtotal allocated | | | 7,098,472 | | | | 710,626 | | | | 916,466 | | | | 279,287 | | | | 9,004,851 | | Unallocated assets | | | | | | | | | | | | | | | | | | | | | Other non-current assets | | | | | | | | | | | | | | | | | | | 242,044 | | Other current assets (including cash and cash equivalents at holding company level) | | | | | | | | | | | | | | | | | | | 691,459 | | Subtotal unallocated | | | | | | | | | | | | | | | | | | | 933,503 | | Total assets | | | | | | | | | | | | | | | | | | | 9,938,354 | |
| | | Renewable energy | | | Efficient natural gas | | | Electric transmission lines | | | Water | | | Balance as of December 31, 2020 | | Liabilities allocated | | | | | | | | | | | | | | | | Long-term and short-term project debt | | | 3,992,512 | | | | 504,293 | | | | 625,203 | | | | 115,606 | | | | 5,237,614 | | Grants and other liabilities | | | 1,221,176 | | | | 108 | | | | 6,040 | | | | 2,443 | | | | 1,229,767 | | Subtotal allocated | | | 5,213,688 | | | | 504,401 | | | | 631,243 | | | | 118,049 | | | | 6,467,381 | | Unallocated liabilities | | | | | | | | | | | | | | | | | | | | | Long-term and short-term corporate debt | | | | | | | | | | | | | | | | | | | 993,725 | | Other non-current liabilities | | | | | | | | | | | | | | | | | | | 589,107 | | Other current liabilities | | | | | | | | | | | | | | | | | | | 147,260 | | Subtotal unallocated | | | | | | | | | | | | | | | | | | | 1,730,092 | | Total liabilities | | | | | | | | | | | | | | | | | | | 8,197,473 | | Equity unallocated | | | | | | | | | | | | | | | | | | | 1,740,881 | | Total liabilities and equity unallocated | | | | | | | | | | | | | | | | | | | 3,470,973 | | Total liabilities and equity | | | | | | | | | | | | | | | | | | | 9,938,354 | |
Assets and liabilities by business sectors as of December 31, 2019:
| | | Renewable energy | | | Efficient natural gas | | | Electric transmission lines | | | Water | | | Balance as of December 31, 2019 | | Assets allocated | | | | | | | | | | | | | | | | Contracted concessional assets | | | 6,644,024 | | | | 559,069 | | | | 872,757 | | | | 85,280 | | | | 8,161,129 | | Investments carried under the equity method | | | 77,549 | | | | 17,154 | | | | - | | | | 45,222 | | | | 139,925 | | Current financial investments | | | 13,798 | | | | 148,723 | | | | 28,237 | | | | 18,373 | | | | 209,131 | | Cash and cash equivalents (project companies) | | | 421,198 | | | | 11,850 | | | | 53,868 | | | | 9,548 | | | | 496,464 | | Subtotal allocated | | | 7,156,568 | | | | 736,796 | | | | 954,862 | | | | 158,423 | | | | 9,006,649 | | Unallocated assets | | | | | | | | | | | | | | | | | | | | | Other non-current assets | | | | | | | | | | | | | | | | | | | 239,553 | | Other current assets (including cash and cash equivalents at holding company level) | | | | | | | | | | | | | | | | | | | 413,613 | | Subtotal unallocated | | | | | | | | | | | | | | | | | | | 653,166 | | Total assets | | | | | | | | | | | | | | | | | | | 9,659,815 | |
| | | Renewable energy | | | Efficient natural gas | | | Electric transmission lines | | | Water | | | Balance as of December 31, 2019 | | Liabilities allocated | | | | | | | | | | | | | | | | Long-term and short-term project debt | | | 3,658,507 | | | | 529,350 | | | | 640,160 | | | | 24,331 | | | | 4,852,348 | | Grants and other liabilities | | | 1,651,476 | | | | 146 | | | | 6,517 | | | | 728 | | | | 1,658,867 | | Subtotal allocated | | | 5,309,983 | | | | 529,495 | | | | 646,677 | | | | 25,059 | | | | 6,511,215 | | Unallocated liabilities | | | | | | | | | | | | | | | | | | | | | Long-term and short-term corporate debt | | | | | | | | | | | | | | | | | | | 723,791 | | Other non-current liabilities | | | | | | | | | | | | | | | | | | | 547,740 | | Other current liabilities | | | | | | | | | | | | | | | | | | | 162,213 | | Subtotal unallocated | | | | | | | | | | | | | | | | | | | 1,433,744 | | Total liabilities | | | | | | | | | | | | | | | | | | | 7,944,959 | | Equity unallocated | | | | | | | | | | | | | | | | | | | 1,714,856 | | Total liabilities and equity unallocated | | | | | | | | | | | | | | | | | | | 3,148,600 | | Total liabilities and equity | | | | | | | | | | | | | | | | | | | 9,659,815 | |
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| Depreciation, amortization and impairment charges recognized |
| c) | The amount of depreciation, amortization and impairment charges recognized for the years ended December 31, 2020, 2019 and 2018 are as follows: |
| | | For the year ended December 31, | | Depreciation, amortization and impairment by geography | | 2020 | | | 2019 | | | 2018 | | North America | | | (197,643 | ) | | | (116,232 | ) | | | (166,046 | ) | South America | | | (39,191 | ) | | | (47,844 | ) | | | (42,368 | ) | EMEA | | | (171,770 | ) | | | (146,679 | ) | | | (154,283 | ) | Total | | | (408,604 | ) | | | (310,755 | ) | | | (362,697 | ) |
| | | For the year ended December 31, | | Depreciation, amortization and impairment by business sectors | | 2020 | | | 2019 | | | 2018 | | Renewable energy | | | (350,785 | ) | | | (286,907 | ) | | | (323,538 | ) | Electric transmission lines | | | (30,889 | ) | | | (27,490 | ) | | | (28,925 | ) | Efficient natural gas | | | (26,563 | ) | | | 3,102 | | | | (10,334 | ) | Water | | | (367 | ) | | | 541 | | | | 100 | | Total | | | (408,604 | ) | | | (310,755 | ) | | | (362,697 | ) |
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