| 32. | SEGMENT INFORMATION |
The Company has adopted IFRS 8 - Operating segments, that require operating segments to be identified on the basis of internal reports regarding components of the Company that are regularly reviewed by the Executive Committee, chief operating decision maker, in order to allocate resources to the segments and to assess their performance.
For the purposes of managing its business both financially and operatively, the Company has classified its businesses as follows:
| i) | Cement, masonry cement and lime: this segment includes results from the cement, masonry cement and lime business, and comprises the procurement of the raw materials for quarries, the manufacturing process of clinker / quicklime and their subsequent grinding with certain additions intended to obtain the cement, masonry cement and lime. |
| ii) | Concrete: this segment includes the results of revenues generated from the production and sale of ready-mix concrete. It also includes the delivery of the product at the worksite and, depending on the circumstances, the pumping of concrete up to the place of destination. |
| iii) | Aggregates: this segment includes the results of revenues generated from the production and sale of granitic aggregates. |
| iv) | Railroad: this segment includes the results of revenues generated from the provision of the railroad transportation service. |
| v) | Others: this segment includes the results of the industrial waste treatment and recycling business for use as fuel o raw material, and the aggregate business. |
| 12.31.2017 | 12.31.2016 | 12.31.2015 | ||||||||||
|
Net revenue |
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|
Cement, masonry cement and lime - Argentina |
11,649,136,962 | 8,314,392,402 | 6,701,278,244 | |||||||||
|
Cement - Paraguay |
1,152,606,929 | — | — | |||||||||
|
Concrete |
1,903,346,280 | 1,044,559,627 | 793,708,600 | |||||||||
|
Railroad |
1,608,080,671 | 1,223,681,686 | 919,729,670 | |||||||||
|
Aggregates |
261,292,612 | 189,491,197 | 144,660,326 | |||||||||
|
Others |
133,109,926 | 75,636,911 | 56,554,737 | |||||||||
|
Eliminations |
(1,421,038,454 | ) | (973,318,615 | ) | (744,977,684 | ) | ||||||
|
|
|
|
|
|
|
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Total |
15,286,534,926 | 9,874,443,208 | 7,870,953,893 | |||||||||
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|
|
|
|
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|
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|
Cost of sales |
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|
Cement, masonry cement and lime - Argentina |
7,986,358,455 | 6,045,620,325 | 4,874,303,722 | |||||||||
|
Cement - Paraguay |
803,220,686 | — | — | |||||||||
|
Concrete |
1,795,052,472 | 968,360,040 | 755,769,143 | |||||||||
|
Railroad |
1,352,375,734 | 1,011,559,523 | 773,417,805 | |||||||||
|
Aggregates |
266,721,854 | 176,603,548 | 116,830,030 | |||||||||
|
Others |
67,374,539 | 35,697,635 | 33,154,459 | |||||||||
|
Eliminations |
(1,421,038,454 | ) | (973,318,615 | ) | (744,977,684 | ) | ||||||
|
|
|
|
|
|
|
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Total |
10,850,065,285 | 7,264,522,456 | 5,808,497,475 | |||||||||
|
|
|
|
|
|
|
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|
Selling, administrative expenses and other gains and losses |
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|
Cement, masonry cement and lime - Argentina |
850,722,982 | 726,012,191 | 575,834,891 | |||||||||
|
Cement - Paraguay |
43,633,705 | — | — | |||||||||
|
Concrete |
77,974,017 | 49,143,560 | 34,190,768 | |||||||||
|
Railroad |
105,192,391 | (4,235,303 | ) | 20,862,201 | ||||||||
|
Aggregates |
4,411,761 | 5,217,097 | 6,772,681 | |||||||||
|
Others |
38,471,541 | 29,341,972 | 24,698,911 | |||||||||
|
|
|
|
|
|
|
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|
Total |
1,120,406,397 | 805,479,517 | 662,359,452 | |||||||||
|
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|
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|
|
|
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| 12.31.2017 | 12.31.2016 | 12.31.2015 | ||||||||||
|
Depreciation and amortization |
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|
Cement, masonry cement and lime - Argentina |
342,614,418 | 432,545,694 | 270,935,703 | |||||||||
|
Cement - Paraguay |
170,931,104 | — | — | |||||||||
|
Concrete |
24,544,240 | 12,492,535 | 9,755,647 | |||||||||
|
Railroad |
74,821,293 | 54,995,174 | 44,853,392 | |||||||||
|
Aggregates |
10,505,708 | 7,115,732 | 6,471,004 | |||||||||
|
Others |
2,463,945 | 1,924,745 | 1,940,551 | |||||||||
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|
|
|
|
|
|
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Total |
625,880,708 | 509,073,880 | 333,956,297 | |||||||||
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|
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|
|
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|
Net revenue less cost of sales, selling, administrative expenses and other gains and losses |
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|
Cement, masonry cement and lime - Argentina |
2,812,055,525 | 1,542,759,886 | 1,251,139,631 | |||||||||
|
Cement - Paraguay |
305,752,538 | — | — | |||||||||
|
Concrete |
30,319,791 | 27,056,027 | 3,748,690 | |||||||||
|
Railroad |
150,512,546 | 216,357,466 | 125,449,664 | |||||||||
|
Aggregates |
(9,841,002 | ) | 7,670,552 | 21,057,615 | ||||||||
|
Others |
27,263,846 | 10,597,304 | (1,298,633 | ) | ||||||||
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|
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|
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Total |
3,316,063,244 | 1,804,441,235 | 1,400,096,967 | |||||||||
|
Reconciling items: |
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|
Share of profit (loss) of associates |
— | 36,631,307 | (105,140,743 | ) | ||||||||
|
Tax on debits and credits banks accounts |
(188,020,636 | ) | (140,033,765 | ) | (109,513,061 | ) | ||||||
|
Finance costs, net |
(842,142,961 | ) | (941,287,406 | ) | (591,564,301 | ) | ||||||
|
Income tax |
(585,537,956 | ) | (257,734,325 | ) | (242,359,114 | ) | ||||||
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|
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Total |
1,700,361,691 | 502,017,046 | 351,519,747 | |||||||||
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| 12.31.2017 | 12.31.2016 | |||||||
| Geographical information | ||||||||
|
Non-current assets |
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|
Argentina |
4,094,960,948 | 3,444,863,021 | ||||||
|
Paraguay |
2,358,756,400 | 2,016,522,494 | ||||||
For these purposes, non-current assets do not include deferred tax assets.
Net revenues for the years ended December 31, 2017, 2016 and 2015 are derived from business in Argentina and Paraguay.
No single customer contributed 10% or more of the Group’s revenue for 2017, 2016 and 2015.