- Grupo Argos’s concession company posted EBITDA of COP 274,618 million, net profit of COP 76 billion, and revenue in excess of COP 399 billion.
- Over 14 million vehicles traveled on its concession roads, and nearly 19 million passengers passed through its airports in the first quarter.
- In the second half of the year, 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, August 16, 2019. Odinsa, Grupo Argos’s concessions company, reported a successful bond issue for its Opain concession. Opain is El Dorado Airport’s operator, in the amount of USD 415 million, which is excellent news for the infrastructure sector and the Colombian capitals market, as this issue attracted the attention of eleven international funds that view it as a good option for investment in Colombian infrastructure projects.
The market’s positive response to this bond placement was evident in the high credit rating of BBB obtained from Fitch Ratings and the demand which reached USD 693 million, actually an excess demand of USD 278 million.
With regard to its financial balances, the company reported solid results for the first half of the year derived from positive operations of its road and airport concessions in Aruba, Colombia, Ecuador and the Dominican Republic, which continue to generate strategic connections in Latin America. Odinsa closed the semester with EBITDA of COP 274,618 million, 9% higher compared to 2018; net profit of COP 76,723 million, up 1% from the same period last year, and revenue of COP 399,149 million, very similar to the first half of 2018.
“At Odinsa we continue to materialize our purpose of contributing to regional connectivity with road and airport projects that create development, competitiveness and shared value, and continue to strengthen the market’s trust in our country and attract investment for its development,” said Mauricio Ossa, CEO of Odinsa.
These positive results were driven primarily by its airport concessions, which mobilized nearly 19 million passengers and had major accomplishments in the first half of the year, including opening routes, increased frequencies and recognitions for sustainability, customer care and cargo shipping, among others. Its road concessions reported over 14 million vehicles and a positive operating trends, with successful works completion at Conexión Pacífico 2 in Antioquia, which to date is reporting 74% progress, higher than what was projected in the timetable negotiated with the ANI.
Today, Grupo Argos’s concessions company has a strategic portfolio that strengthens its position in the sector and the market’s trust, which continues to solidify with events such as the ratification of the AA- rating Stable Outlook by Fitch ratings, and seen in important actions like the successful issues and placements of bonds for its Quiport concessions under Mariscal Sucre for USD 400 million and Opain, the El Dorado airport operator, for USD 415 million.
“In the second half of the year we will continue to manage our concessions efficiently, strengthening our portfolio and developing road and airport infrastructure initiatives that give the market solutions and contribute to the present and future competitiveness of the countries in which we operate”, indicated Mauricio Ossa.
Noteworthy facts about its concessions
- Closed the first half of the year by connecting over 16 million passengers with 41 local destinations and 26 countries through 22 airlines. It mobilized 300,000 tons of cargo through 21 national and international airlines, consolidating itself as the number one cargo airport in Latin America. Moreover, all the modernization and expansion projects were completed by the concession holder, with an investment of 2.2 trillion pesos, and the airport has positioned itself as a green airport in the region, having received several awards attesting to that fact, including the international Outstanding Sustainability Program Award and the Carbon Footprint accreditation See more
More about the bonds issue: The issue obtained an international rating of BBB from Fitch Ratings, and it was arranged through a private placement where eleven international investors acquired the notes. The resources from this transaction were used to repay Opain’s total outstanding credits abroad, which will allow it to continue with its plans for investment and to strengthen services at El Dorado Airport. Because of its strategic location, this airport has become the main port of entry and exit for Colombia, being the first airport in South America in terms of cargo movement, with over 700,000 tons, and third in passenger traffic with over 32 million a year. See more
- It moved 2 and a half million passengers, connecting them with nearly 30 national and international destinations, recognized as the best specialized cargo airport in the world and Best Regional Airport in South America according to Skytrax; it announced the opening and start-up of new routes like Quito-Madrid (Plus Ultra), Quito-Paris (Air France, Quito-Santiago (LATAM), and Quito-Toronto (Air Canada Rouge); plus increased route frequencies, including Quito-Madrid (Iberia). It also celebrated its first 6 years of operation, during which it has contributed to the country’s connectivity. See more
- : so far this year, the project has contributed to the connectivity of 1,270,492 vehicles, and reports 74% works completion to date, 9% higher than what was projected in the timetable negotiated with the ANI. Noteworthy in that sense was the successful completion of the Mulatos Tunnel; the official inauguration of Functional Unit 1, which completes 2 of the 5 roads that comprise the project, and a successful social and environmental management, which contributes to the territory’s sustainable development. See more
- the concession closed the first half of the year with traffic of over 5 million vehicles; it also made progress in the materialization of the works contained in Addendum 20, signed in 2018, concluding 50% of the proposed designs and studies; in addition to the start-up of works such as the installation of pedestrian bridges. It has also received over 100,000 visitors at its user assistance centers (Tambos) and provided services to just over 3,600 travelers that traveled its roads. See more
For additional information contact:
Viviana Arroyave, Director of Communications / email@example.com / +57 3176469218
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