213800FU5HJ5AXKACP98 2021-01-01 2021-12-31 213800FU5HJ5AXKACP98 2020-01-01 2020-12-31 213800FU5HJ5AXKACP98 2021-12-31 213800FU5HJ5AXKACP98 2020-12-31 213800FU5HJ5AXKACP98 2019-12-31 213800FU5HJ5AXKACP98 2020-12-31 ifrs-full:IssuedCapitalMember 213800FU5HJ5AXKACP98 2021-12-31 ifrs-full:IssuedCapitalMember 213800FU5HJ5AXKACP98 2019-12-31 ifrs-full:IssuedCapitalMember 213800FU5HJ5AXKACP98 2020-12-31 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 213800FU5HJ5AXKACP98 2021-01-01 2021-12-31 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 213800FU5HJ5AXKACP98 2019-12-31 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 213800FU5HJ5AXKACP98 2020-01-01 2020-12-31 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 213800FU5HJ5AXKACP98 2020-12-31 ifrs-full:RetainedEarningsMember 213800FU5HJ5AXKACP98 2021-01-01 2021-12-31 ifrs-full:RetainedEarningsMember 213800FU5HJ5AXKACP98 2021-12-31 ifrs-full:RetainedEarningsMember 213800FU5HJ5AXKACP98 2019-12-31 ifrs-full:RetainedEarningsMember 213800FU5HJ5AXKACP98 2020-01-01 2020-12-31 ifrs-full:RetainedEarningsMember 213800FU5HJ5AXKACP98 2020-12-31 ifrs-full:EquityAttributableToOwnersOfParentMember 213800FU5HJ5AXKACP98 2021-01-01 2021-12-31 ifrs-full:EquityAttributableToOwnersOfParentMember 213800FU5HJ5AXKACP98 2021-12-31 ifrs-full:EquityAttributableToOwnersOfParentMember 213800FU5HJ5AXKACP98 2019-12-31 ifrs-full:EquityAttributableToOwnersOfParentMember 213800FU5HJ5AXKACP98 2020-01-01 2020-12-31 ifrs-full:EquityAttributableToOwnersOfParentMember 213800FU5HJ5AXKACP98 2020-12-31 ifrs-full:NoncontrollingInterestsMember 213800FU5HJ5AXKACP98 2021-01-01 2021-12-31 ifrs-full:NoncontrollingInterestsMember 213800FU5HJ5AXKACP98 2021-12-31 ifrs-full:NoncontrollingInterestsMember 213800FU5HJ5AXKACP98 2019-12-31 ifrs-full:NoncontrollingInterestsMember 213800FU5HJ5AXKACP98 2020-01-01 2020-12-31 ifrs-full:NoncontrollingInterestsMember iso4217:USD
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Consolidated Financial Statements
NOVA AUSTRAL S.A. AND SUBSIDIARIES
Santiago, Chile
As of December 31, 2021 and 2020
(Translation of Consolidated Financial Statements originally issued in
Spanish - See Note 2b)

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Consolidated Financial Statements

NOVA AUSTRAL S.A. AND SUBSIDIARIES

As of December 31, 2021 and 2020

(Translation of Consolidated Financial Statements originally issued in Spanish - See Note 2b)


Index


Consolidated Financial Statements

Consolidated Statements of Financial Position.................................................................... ...... 1
Consolidated Statements of Comprehensive Income by Function ....................................... ..... 3
Consolidated Statements of Changes in Equity................................................................... ...... 4
Consolidated Statements of Cash flows .............................................................................. ...... 5
Notes to the Consolidated Financial Statements ................................................................. ..... 6

Note 1 - Corporate Information ................................................................................................. 6
Note 2 - Summary of Significant Accounting Principles ............................................................ 6

a) Accounting period ........................................................................................................... 7
b) Statement of compliance ................................................................................................. 7
c) Basis of preparation ........................................................................................................ 7
d) Functional currency ......................................................................................................... 8
e) Use of estimates and judgments ..................................................................................... 8
f) Basis of consolidation ..................................................................................................... 9
g) Transactions in foreign currency and basis of conversion................................................ 11
h) Cash and cash equivalents ............................................................................................. 12
i) Financial instruments ...................................................................................................... 13
j) Property, plant and equipment ........................................................................................ 18
k) Interest costs ................................................................................................................... 19
l) Intangible assets ............................................................................................................. 19
m) Leases ............................................................................................................................ 21
n) Biological assets ............................................................................................................. 24
o) Income tax and deferred taxes ........................................................................................ 26
p) Inventory ......................................................................................................................... 27
q) Trade payables and other accounts payable ................................................................... 27
r) Financial information by operating segment .................................................................... 28
s) Employee benefits .......................................................................................................... 28
t) Recognition of revenue ................................................................................................... 28
u) Recognition of costs ........................................................................................................ 30
v) Impairment of non-financial assets .................................................................................. 30
w) New Standards, Interpretations and Amendments .......................................................... 30


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Consolidated Financial Statements
NOVA AUSTRAL S.A. AND SUBSIDIARIES
As of December 31, 2021 and 2020
(Translation of Consolidated Financial Statements originally issued in Spanish - See Note 2b)
Index
Note 3 - Changes in Accounting Policies and Estimates .......................................................... 37
Note 4 - Financial Risk Management ....................................................................................... 38
Note 5 - Cash and Cash Equivalents ....................................................................................... 42
Nota 6 - Other Financial Assets, Current .................................................................................. 43
Note 7 - Financial Instruments ................................................................................................. 43
Note 8 - Trade Receivables and other Accounts Receivable .................................................... 46
Note 9 - Balance and Transactions with Related Entities ......................................................... 49
Note 10 - Inventory................................................................................................................... 51
Note 11 - Biological Assets ...................................................................................................... 52
Note 12 - Other Non-financial Assets, Current ......................................................................... 55
Note 13 - Intangible Assets other than Goodwill ....................................................................... 55
Note 14 - Property, Plant and Equipment ................................................................................. 58
Note 15 - Current Income Tax and Deferred Taxes .................................................................. 60
Note 16 - Other Financial Liabilities, Current and Non-Current ................................................. 62
Note 17 - Trade Payables and Other Accounts Payable, Current and Non-Current.................. 66
Note 18 - Employee Benefits Provision .................................................................................... 66
Nota 19 - Other Non-Financial Liabilities, Current .................................................................... 67
Note 20 - Equity ....................................................................................................................... 67
Note 21 - Income from Operating Activities .............................................................................. 70
Note 22 - Costs of Sales .......................................................................................................... 70
Note 23 - Other Gains .............................................................................................................. 70
Note 24 - Other Expenses by Function ..................................................................................... 71
Note 25 - Administrative and Distribution Expenses ................................................................. 71
Note 26 - Finance Expenses and Finance Income ................................................................... 72
Note 27 - Foreign Currency Translation ................................................................................... 73
Note 28 - Presentation of expenses by Nature ......................................................................... 73
Note 29 - Contingencies and Liens .......................................................................................... 74
Note 30 - Environment ............................................................................................................. 96
Note 31 - Subsequent Events .................................................................................................. 96
$ : Chilean peso
M$ : Thousands of Chilean pesos
UF : Unidad de Fomento: The UF is a peso-denominated inflation-indexed monetary unit.
US$ : US dollar
ThUS$ : Thousand US dollar

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Consolidated Financial Statements

NOVA AUSTRAL S.A. AND SUBSIDIARIES

As of December 31, 2021 and 2020

(Translation of a report originally issued in Spanish - See Note 2b)

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NOVA AUSTRAL S.A. AND SUBSIDIARIES
Consolidated Statements of Financial Position
As of December,
(In thousands of US dollars)
(Translation of Consolidated Financial Statements originally issued in Spanish - See Note 2b)
The accompanying notes from 1 to 30 are an integral part of the consolidated financial statements
1
ASSETS
Note
2021
ThUS$
2020
ThUS$
Current Assets
Cash and cash equivalents
(5)
3,164
4,756
Other non-financial assets, current
(11)
10,254
7,461
Trade receivables and other accounts
receivable, current
(7)
4,890
14,422
Accounts receivable from related companies, current
(8)
85
79
Inventory
(9)
14,109
20,518
Biological assets, current
(10)
88,146
51,362
Tax assets, current
(14)
16,619
24,312
Total current assets
137,267
122,910
Non-Current Assets
Intangible assets other than goodwill
(12)
9,840
8,497
Property, plant and equipment
(13)
99,279
106,727
Accounts receivable, non-current
472
433
Accounts receivable from related companies, non-current
(8)
123,439
121,585
Deferred tax assets
(14)
2,436
3,657
Total non-current assets
235,466
240,899
Total Assets
372,733
363,809

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NOVA AUSTRAL S.A. AND SUBSIDIARIES
Consolidated Statements of Financial Position
As of December,
(In thousands of US dollars)
(Translation of Consolidated Financial Statements originally issued in Spanish - See Note 2b)
The accompanying notes from 1 to 30 are an integral part of the consolidated financial statements
2
LIABILITIES AND EQUITY
Note
2021
ThUS$
Current Liabilities
Other financial liabilities, current
Trade accounts payable and other accounts
(15)
73,965
Payable, current
(16)
45,177
Accounts payable to related entities, current
(8)
10,512
Employee benefit provisions, current
(17)
1,365
Other non-financial liabilities, current
(18)
1,885
Total current liabilities
132,904
Non-Current Liabilities
Other financial liabilities, non-current
(15)
364,441
Trade accounts payable and other accounts
payable, non-current
(16)
757
Deferred tax liabilities
(14)
5,612
Total non-current liabilities
370,810
Total liabilities
503,714
Equity
Issued capital
(19)
1,000
Retained earnings
(19)
(136,041)
Other reserves
(19)
-
Equity attributable to the owners of the
Parent
(135,041)
Non-controlling interests
(19)
4,060
Total equity
(130,981)
Total Liabilities and Equity
372,733

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NOVA AUSTRAL S.A. AND SUBSIDIARIES
Consolidated Statements of Comprehensive Income by Funtion
For the years ended December 31,
(In thousands of US dollars)
(Translation of Consolidated Financial Statements originally issued in Spanish - See Note 2b)
The accompanying notes from 1 to 30 are an integral part of the consolidated financial statements
3
Statements of Income by Function
Note
2021
ThUS$
Revenue from operating activities
(20)
89,934
Cost of sales
(21)
(100,900)
Gross profit (loss) before Fair Value
(10,966)
Biological asset growth of the period fair value
credited to income
(10)
21,091
Harvested and sold biological asset fair value
credited to income
725
Gross profit (loss) after Fair Value
10,850
Other gains
(22)
8,038
Other expenses by function
(23)
(7,661)
Distribution costs
(24)
(9,740)
Administrative expenses
(24)
(8,122)
Finance expenses
(25)
(45,544)
Finance income
(25)
8,644
Foreign currency translation
(26)
474
Profit (loss) before tax
(43,061)
Income tax
(14)
(7,251)
Profit (Loss) for the year
(50,312)
Profit Attributable to:
Profit (Loss) attributable to the parent
(56,804)
Profit (Loss) attributable to non-controlling interests
(19)
6,492
Profit (Loss) for the year
(50,312)
Statements of Comprehensive Income
Profit (Loss)
(50,312)
Other comprehensive income
(277)
Total comprehensive income
(50,589)
Comprehensive Income attributable to the parent
(57,081)
Comprehensive Income attributable to non-
controlling interests
(20)
6,492
Total Comprehensive Income
(50,589)

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NOVA AUSTRAL S.A. AND SUBSIDIARIES
Consolidated Statements of Change in Equity
As of December 31, 2021 and 2020
(In thousands of US dollars)
(Translation of Consolidated Financial Statements originally issued in Spanish - See Note 2b)
The accompanying notes from 1 to 30 are an integral part of the consolidated financial statements
4
Issued
Capital
Foreign
Currency
Translation
Reserve
Retained
Earnings
(Losses)
Equity
Attributable to
the Owners of
the Parent
Non-
Controlling
Interests
Total
Equity
ThUS$
ThUS$
ThUS$
ThUS$
ThUS$
ThUS$
Current year beginning balance 01.01.2021
1,000
(79)
(78,881)
(77,960)
1,010
(76,950)
Changes in equity
Profit (loss) for the year
-
-
(56,804)
(56,804)
6,492
(50,312)
Other comprehensive income
-
79
(356)
(277)
-
(277)
Comprehensive Income
-
79
(57,160)
(57,081)
6,492
(50,589)
Transfers and other changes increase
(decrease)
-
-
-
-
(3,442)
(3,442)
Total changes in equity
-
79
(57,160)
(57,081)
3,050
(54,031)
Current year ending balance 12.31.2021
1,000
-
(136,041)
(135,041)
4,060
(130,981)
Current year beginning balance 01.01.2020
1,000
(70)
(1,025)
(95)
3,807
3,712
Changes in equity
Profit (loss) for the year
-
-
(77,856)
(77,856)
(3,177)
(81,033)
Other comprehensive income
-
(9)
-
(9)
-
(9)
Comprehensive Income
-
(9)
(77,856)
(77,865)
(3,177)
(81,042)
Transfers and other changes increase
(decrease)
-
-
-
-
380
380
Total changes in equity
-
-
(77,856)
(77,865)
(2,797)
(80,662)
Current year ending balance 12,31,2020
1,000
(79)
(78,881)
(77,960)
1,010
(76,950)

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NOVA AUSTRAL S.A. AND SUBSIDIARIES
Consolidated Statements of Change in Equity
As of December 31, 2021 and 2020
(In thousands of US dollars)
(Translation of Consolidated Financial Statements originally issued in Spanish - See Note 2b)
5
2021
2020
ThUS$
ThUS$
Cash flows provided by (used in) operating activities
Proceeds from sale of goods or rendering of services
88,928
154,066
Proceeds from premiums and services, annuities and other
benefits from subscribed policies
2,888
1,107
Other proceeds from operating activities
13,446
15,248
Payments to suppliers for supplying goods and services
(111,039)
(143,655)
Payments to and on behalf of employees
(19,574)
(22,612)
Payment of premiums and services, annuities and other obligations
derived from the subscribed policies
(1,227)
(2,451)
Income taxes reimbursed (paid)
10,380
8,129
Other cash inflows (outflows)
(289)
(1,042)
Net cash flows (used in) provided by operating activities
(16,487)
8,790
Cash flows provided by (used in) investing activities
Loans from related entities
6,750
5,282
Sales of property, plant and equipment
290
-
Payments to obtain control of subsidiaries
(2,000)
(1,360)
Additions to property, plant and equipment
(2,966)
(4,546)
Additions to intangible assets
-
(1,383)
Net cash flows provided by (used in) investing activities
2,074
(2,007)
Cash flows provided by (used in) financing activities
Inflows from loans
21,250
12,143
Loan payments
(3,786)
(3,786)
Interest paid
(5,300)
(16,969)
Increase in subsidiary capital
-
-
Factoring payments
-
(8,212)
Other cash inflows (outflows)
(49)
(1,421)
Net cash flows provided (used in) by financing activities
12,115
(18,245)
Net Increase (Decrease) in cash and cash equivalents, before
the effect of changes in the exchange rate
(2,298)
(11,462)
Effects of Changes in the Exchange rate on Cash and Cash
Equivalents
706
57
Net Increase (Decrease) in Cash and Cash Equivalents
(1,592)
(11,405)
Cash and Cash Equivalents at the Beginning of the Period
4,756
16,161
Cash and Cash Equivalents at the end of the Period
3,164
4,756
The accompanying notes from 1 to 30 are an integral part of the consolidated financial statements