Frequently Asked Questions
What does Committed with the Future mean?
Committed with the Future is a program launched on May 10 2017, which encompasses the actions and commitment of the new Board, the new corporate general management and all the organization, by strengthening the good corporate governance and the restoration of trust of all Peruvians.
What actions does this program entail?
The program has the following initiatives:
What is the importance of the program Committed with the Future?
In the Graña y Montero Group we are convinced that the different initiatives being currently implemented, as a part of the program, will serve to reinforce and broaden the trust of our clients, investors, providers and all the Peruvian society. We are confident in renewing the pride of belonging, which has so far characterized our more than 28,000 collaborators and their families.
What actions will the Risks, Compliance and Sustainability Committee be responsible for?
This committee will approve the policies and limits of risk exposure, monitor and supervise the area and risk profile of the organization, and it will ensure the policy compliance of the Group, especially the compliance with the Anti-Corruption Policy and the Sustainable Corporate Policy, as well as the laws that apply to the business.
Who constitutes the Risks, Compliance and Sustainability Committee?
The appointed directors for this committee are: Augusto Baertl, Rafael Venegas, Manuel del Río, Pedro Pablo Errázuriz and Alfonso de Orbegoso. All of them are independent directors.
Is Graña y Montero planning to adjust its mechanisms and policies to avoid such future problems? How will this be achieved?
That is why, precisely, we have created the program Committed with the Future. This includes all the actions in which the Group will be working to prevent its reputation from being questioned again. Everything we are doing can be found here: Actions for the future
What is the financial situation of the Group?
We have a project portfolio of nearly US$3,531 million, as of March 2017. In the first quarter of 2017, we obtained a net profit of S/. 79.1 million, and achieved an increase of 11.6% compared to the same period in 2016.
What is the objective of the asset sale?
The asset sale is a process that prevents the revenue stream of the projects from being affected by the indebtedness of the Gasoducto Sur Peruano Pipeline. This process provides greater liquidity to the company and guarantees the execution of future projects. It supports to continue the process of financial strengthening of the company, in an accelerated way, after the termination of the GSP.
What assets have been sold so far?
So far we have sold our participation in the company PRINSUR, in the San Martin Military Headquarters Project, in the Canadian company Red Eagle Mining Corporation, and in the Compañía Operadora de Gas del Amazonas (COGA) and in GMD. The sale of these assets adds up a total of US $ 192.7 MM.
What is the legal status of Graña y Montero? Has a lawsuit or judicial process begun in Peru?
To date, there is no ongoing process or legal investigation in which any of the companies of our Group may be involved.
Are you participating / going to participate in new projects this year?
In the first quarter of 2017 we have received orders for US $ 296 million.
Has Graña y Montero been sued in USA?
To date there are two lawsuits in the USA under the name of two natural persons. Neither the New York Stock Exchange, nor the regulatory agencies, nor other shareholder companies have filed any lawsuits.
Who elects the Graña y Montero Directors?
The shareholders of the company are the ones proposing and appointing the directors. Our new Board was elected in the General Shareholders´ Meeting, which took place on 31 March 2017. You are kindly invited to learn more about them here: New Board of Directors
Who are your main shareholders?
The AFPs, which represent millions of Peruvians, own more than 30% of our company. The rest is distributed among investment funds and natural shareholders.
Is there any relationship between Graña y Montero and El Comercio Group?
No, the Graña y Montero Group has no participation in the newspaper, nor is it part of its economic group. Likewise, El Comercio has no participation in Graña y Montero.
What are the addenda used for?
An addendum is a document used to formalize and leave evidence of the execution of services or projects which were not contemplated in the initial reach of the contract. They are performed, either, because the client solicits to make an additional work or because natural factors have impacted in the progress made, or because the contractor identifies improvement opportunities among others.