Odinsa reported a successful first half of the year at Conexión Pacífico 2, as well as 73% works completion.

  • Conexión Pacífico 2 made steady progress during the first half of 2019, attaining major milestones such as the inauguration of its second functional unit and completion of digging at the Mulatos Tunnel.
  • The project’s completion rate reached 73%, which is 9% more than what was projected in the timetable negotiated with the ANI. 

Medellín, July 18, 2019 – Odinsa, a Grupo Argos concessions company, reported a positive balance on its Pacífico 2 project at the end of the first half of 2019. The fourth-generation project, with 96.5 kilometers of road, will help connect Colombia’s northern region with Antioquia, the Coffee Belt and the Pacific region, and promote competitiveness in the country. Positive results were reported regarding mobility, operations, construction and social and environmental management.

So far this year, the project has contributed to the connectivity of 1,270,492 vehicles that traveled on the Pacífico 2 roads and made use of nearly 5,000 portfolio services offered by the concession holder to contribute to safe mobility. Also under the same line of promoting self-care, Odinsa hosted 50 road safety workshops with the participation of 7,070 users as well as the project’s neighboring communities.

Regarding works completion, the outlook is even more positive, with the project reaching 73%, or 9% more than what was projected in the timetable negotiated with the ANI. A major highlight was the official inauguration of Functional Unit 1, which completes 2 of the 5 roads that comprise this project. The inaugurated works include 14 kilometers of a two-lane highway between La Pintada and Puente Iglesias, 3 kilometers of single-lane road at La Pintada, and the Puente Iglesias intersection. 

Added to this was the completion of the Mulatos Tunnel, which crosses the rocky wall in the municipality of Tarso. This milestone, which was achieved thanks to the efforts of over 480 people and state-of-the-art technology, is very significant in the world of engineering because it represents the merger of the various tunnel tube excavation fronts, enabling circulation from one side of the tunnel to the other.

We are very satisfied with Conexión Pacífico 2’s management. This project continues to materialize its purpose of contributing to the region’s connectivity and social and economic strength” asserted Mauricio Ossa, president of Odinsa and majority shareholder of Pacífico 2.

In matters of sustainability, in line with Odinsa’s policies and reaffirming its commitment with generating progress in the region, the concession holder in charge of the project developed various programs and activities related to social and environmental issues in the first few months of the year. Notable among them were 7 productive initiatives that provide self-management tools for household economies and foster employment in the southwest, directly benefiting 60 families, which in turn, generate sources of income for another 71 families.

Finally, with regard to environmental management, we should note the implementation of 20 Fauna Steps: rescue and relocation of nearly 150 wild animals, reforestation of 3 hectares, and starting the reforestation of 7 others, as well as progress in the water conservation program which protects the three most important watersheds in the region: Cartama, Piedras and Mulatos.

In the second half of the year we continued working with quality, expediency and under high standards of sustainability, incorporating the experience and best practices of our shareholders Odinsa and El Cóndor, which allow us to deliver a positive balance of our efforts today” stated Gustavo Bernal, Manager of La Pintada, concession holder in charge of Pacífico 2.

More about Pacífico 2 and its management:

This fourth-generation project (4G), operated by La Pintada concession, has an investment of over 1.3 trillion pesos for the construction of 42.5 km of new roads, 2.5 kilometers of double tube tunnel, 54 kilometers of rehabilitated roads and 42 bridges distributed over 5 sections or functional units.

See works completion video  https://www.youtube.com/watch?v=hm5ttacX5lk 

For more information contact:

Viviana Arroyave, Director of Communications | +57 3176469218 |varroyave@odinsa.com

Visit www.odinsa.com and our social networks @SomosOdinsa on Twitter|Odinsa on LinkedIn

Odinsa strengthens the trust of the market and its investors with an AA- Stable Outlook rating

  • Fitch Ratings, one of the three main risk rating agencies in the world, confirmed Odinsa’s Ordinary Bonds rating at AA-(col), with a Stable Outlook.
  • This fact continues to consolidate Grupo Argos’s concession company as a solid investment vehicle, since it is awarded to organizations that are highly likely to fulfill their obligations.

Medellín, July 9, 2019 – For the third year in a row, Fitch Ratings has awarded Odinsa, Grupo Argos’s concessions company, an AA-(Col) rating for its Ordinary Bonds totaling COP 400,000 million, and reaffirmed its Stable Outlook. 

“This ratification highlights the trust in the strategic road we have been following with discipline, and it becomes a seal of trust for our investors; in addition to an opportunity to continue strengthening our shares in Colombia’s securities market”, affirmed Mauricio Ossa, CEO of Odinsa.

The agency pointed to five key factors it considered in ratifying the rating: the presence of Grupo Argos as controlling shareholder, its balanced portfolio of concessions, its growing prospective cash flow, its high leverage and ample experience in the infrastructure sector.

According to the Fitch Ratings report, the ratings considered Odinsa’s connection with the credit profile of its parent company Grupo Argos (AAA(col)/Stable), which is based on the existence of strong operational and strategic links. Similarly, it included Odinsa’s experience in developing infrastructure projects in and out of Colombia, the gradual strengthening of the cash received from various concessions in which it participates, and its focus on long-term concessions with predictable income.

The AA- rating awarded to Odinsa is in the top category of debt issues, which feature a high level of certainty about their capacity to pay in the short term. In other words, these issues are very attractive for investors, who see Fitch’s opinion as an important reference for decision-making.

More about the key factors highlighted by Fitch Ratings:

The agency issued a positive assessment on the presence of Grupo Argos as the controlling shareholder (99.8%), which aligns Odinsa’s guidelines and policies with those of the Group, and which also upgraded its rating to AAA(Col), thus consolidating its support for Odinsa.

Balanced concessions portfolio: It involves the operation of long-term concessions with predictable income, which helps offset, to a certain extent, the volatility of the revenue and the risk profile associated with construction. 

In this regard, it highlights the strong performance displayed by Odinsa’s concessions in the first quarter of 2019, from which the company received revenue totaling COP 199,240 million and EBITDA of COP 141,802 million.

Experience: the accumulation of ample experience in managing, building and operating road and airport infrastructure projects With over 25 years in the sector, Odinsa has participated in the consolidation of strategic projects, and at this time, it holds 4 concessions in Colombia, 1 in Ecuador, 1 in Aruba and 2 in Dominican Republic.

Its main projects include:

  • El Dorado Airport in Colombia: in the first half of the year, this airport moved over 16 million passengers, reporting an increase of 18% in passengers paying the airport fee compared to the previous year. In addition, El Dorado has positioned itself as a green airport in the region, having received several awards, including the international Outstanding Sustainability Program award and the Carbon Footprint accreditation. See more
  • Conexión Pacífico 2 in Colombia: in the second half of the year it inaugurated the second functional unit (out of 5 roads), and to date it reports over 70% works completion. See works completion video
  • Mariscal Sucre Airport in Ecuador: positioned by Skytrax as the Best Airport in South America, completing 6 years of operations in 2019 during which time it has contributed to the country’s connectivity. See more
  • High leverage: the materialization of the many strategies undertaken by the company to strengthen its capital structure and cash flow generation could result in a ratings upgrade.

For additional information contact:

Viviana Arroyave, Director of Communications / varroyave@odinsa.com / +57 3176469218

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  ajimeno@odinsa.com / Cell:+57 3134964741

Viviana Arroyave / Media and Communications Manager varroyave@odinsa.com / Cell: +57 3176469218

Check out our 2018 Annual Report at https://www.odinsa.com/