Change of Fiscal Reviewer

In an ordinary meeting held today, the General Assembly of Shareholders appointed the firm KPMG SAS as Fiscal Reviewer of the Company for the period 2019 – 2020, replacing PwC, whose relief was due to good governance corporate practices. The Assembly approved an annual fee of COP $ 205,000,000 million + IVA


Board of Directors Change

Medellin, March 26, 2019.

Subject: Board of Directors Change

At the ordinary meeting held today the General Assembly of Shareholders elected the following Board of Directors for the period April 1, 2019 to March 31 of 2020.

Name and Quality:
Jorge Mario Velásquez Patrimonial Member
Camilo Abello Patrimonial Member
Alejandro Piedrahita Patrimonial Member
Sergio Osorio Patrimonial Member
María Isabel Echeverri Patrimonial Member
Sergio Restrepo Independent Member
Juan Emilio Posada Independent Member

Additionally, the Assembly approved to fix for the corresponding statutory period a monthly fee for the Board of Directors of $ 6,500,000 COP and a monthly fee of $ 6,500,000 COP for participation in Board Committees, the last will be received only by the Independent Members that participate in the mentioned Committees.


Decisions by the Board of Directors

Medellin, March 26, 2019.

Subject: Decisions by the Board of Directors

Today, the Board meeting authorized to grant a guarantee for Loans from the Constructor Farallones consortium up to sixty million pesos (COP 60,000,000,000), with the objective of covering the needs of working capital that could appear in said consortium. Odinsa has a participation equal to the 50% in the constructor consortium Farallones which is advancing the construction of the road project called Conexión Pacífico 2 (98 Km), which includes the construction, maintenance and operation of the new highway La Pintada-Bolombolo, and the rehabilitation, maintenance and operation of the highway La Pintada – Primavera (Antioquia), which is operated by Concesión La Pintada SAS. This work is part of the first group of fourth generation concessions in Colombia and in conjunction with Pacific 1 and 3 will connect the north of the country with Antioquia, the coffee zone, the Valle del Cauca and the Colombian Pacific.


Odinsa obtains outstanding results because of its corporate strategy

  • With EBITDA of COP 532,322 million and a 12% variation year over year, among other indicators, the company ratified its solid position with outstanding results in 2018.
  • Over 27 million vehicles traveled on its concession roads, and nearly 38 million passengers passed through its airports.
  • In 2019 the company will promote the development of various initiatives, continuing to contribute to the current and future competitiveness of the countries where it operates.

Medellín, March 26, 2019 – After the disciplined execution of its strategic focus, Odinsa, a Grupo Argos concessions company, reported positive results today at its General Shareholders Meeting for its 2018 operations. This was a year in which Odinsa solidified its position as a strong, reliable and sustainable company that facilitates connectivity, and with its experience and future vision, it will certainly contribute to competitiveness in the territories by developing its initiatives.

The company attained positive results EBITDA of COP 532,322 million, a controlling net profit of COP 135,440 million and consolidated revenue of COP 788,025 million, leveraged in the management executed in each of its projects and its focus on sustainable development of its businesses, which allows it to generate value and strengthen connectivity in the countries where it operates.

Grupo Argos’s concessions company closed the year with actions that show the trust of the market and its stakeholders in its endeavors, including ratification of the AA-(Col) ratings by Fitch Ratings; the Issuer Recognition (IR) award from the Colombian Securities Exchange (BVC); the Best Loan by LatinFinance for the successful process of financing Pacífico 2; the Adecco Employers for Youth recognition as one of the companies chosen by young people to work for, and various recognitions in each of its concessions.

“Our results have reaffirmed our position as a solid company that manages a portfolio of valuable and profitable assets and its strengthening to continue developing high-impact initiatives and projects,” stated Mauricio Ossa, CEO of Odinsa.

Its airport concessions, which moved nearly 38 million passengers, had an outstanding performance, with a 6% increase in passenger traffic, and notable events such an increase in new routes and frequencies, the 4-star rating and ratification of important recognitions from Skytrax, and environmental certifications that positioned Mariscal Sucre and El Dorado as sustainable airports in the region.

Its road concessions reported over 27 million vehicles and a positive management dynamics, with important milestones that include successful works completion at Pacífico 2, which reached 59% execution at the end of the year; signing an Addendum for the design and execution of additional works at Autopistas del Café, and completion of the Green Corridor project in Aruba.

These facts, added to Grupo Argos’s support and the alignment to its policies, reinforced the trust of the market and stakeholders in Odinsa, and strengthened the company to take on challenges and develop comprehensive solutions with new connections and services for users in 2019.

For additional information contact: 

Andrea Jimeno / Djrector of Communications / Cell:+57 3134964741

Viviana Arroyave / Media and Communications Manager / Cell: +57 3176469218

Check out our 2018 Annual Report at