In 2022, we adopted measures to improve management in operational management, such as increasing the value of inventories of intermediate and final products, as well as reducing spending. Consequently, we obtained favorable economic results.
On our share capital, as of December 31, 2022, the authorized, subscribed and paid-up capital is represented by 5,572,168,000 common shares, whose nominal value is S/ 1 each.
Revenue generated
(USD 5574 million)
| Class | Number of shares | Percentage |
|---|---|---|
| A | 4,457,734,400 | 80% |
| B | 1,114,433,600 | 20% |
| Total | 5,572,168,000 | 100% |
Class A shares have the right to vote, but they are indivisible, non-transferable and non-attachable shares, and may not be subject to security, usufruct or any impairment.
Class “B” shares have voting rights and may be transferred through centralized negotiation mechanisms of the Stock Market.
During 2022, we prioritized our investment portfolio, and managed to execute the amount of USD 582 million: USD 524 million in investment projects and USD 58 million in current investments.
The main investment projects correspond to the Talara Refinery Modernization Project (PMRT), New Ilo Terminal, Ninacaca Supply Plant, Puerto Maldonado Sales Plant, Lot 192 and Lot 64. Regarding the PMRT, we achieved an overall physical advance of 98.5% versus 100% programmed.
As for the current investment projects, these were aimed at maintaining the operation of the refineries, plants and terminals operated by the company, improving operational performance and for regulatory compliance.
In 2022, our total assets grew by $1256 million and our total liabilities increased by $513 million.
In order to periodically monitor our cash flow projects and constantly monitor transactions, we file quarterly financial reports to report our economic management. These reports demonstrate our transparency to the Peruvian State and our main stakeholders.
The financial results for 2022 were audited by the Audit Firm Gaveglio Aparicio y Asociados SCRL– Price Waterhouse Coopers (PwC). Likewise, they were approved by the Board of Directors with A/D No. 120-2023-PP dated 21.09.2023 and 29.09.2023 approved by the General Shareholders’ Meeting.
We consolidate and disclose proprietary company information through our financial statements.
| Concepto | 2021 (millones de dólares) | 2022 (milones de dólares) |
|---|---|---|
| Valor económico directo creado | ||
| Ventas netas | 4156.41 | 5517.24 |
| Otros ingresos | 65.84 | 63.64 |
| Total de ingresos brutos | 4222.25 | 5580.88 |
| Valor económico distribuido | ||
| Salarios y beneficios | 113.69 | 139.05 |
| Proveedores | 3724.95 | 5586.13 |
| Proveedores de capital | 21.50 | 151.95 |
| Impuestos (incluido IR, pagos a la SBS y arbitrios) | 126.24 | - 28.45 |
| Donaciones | 0.019 | – |
| Programas sociales y/o ambientales * | 1.56 | 2.10 |
| Otros costos operativos | 158.74 | - 1.308 |
| Total de egresos | 4020.49 | 5852.10 |
| Valor económico retenido | 67.93 | - 271.21 |
* This amount does not include the investment amount of the Nueva Refinería Talara and Puerto Maldonado projects.
Source: Corporate Finance Management.
In 2022, we recorded a net loss of USD 271 million, contrary to the net profit recorded in 2021 which amounted to USD 67.9 million, mainly explained by the following factors:
