Corporate Presentation

Transcription

1 Mariscal Sucre Airport Corporate Presentation March 2017

2 Highlights Santa Marta - Paraguachón

3 History Odinsa is founded by 42 companies from the construction sector. Awarded with its firsts toll road concessions: 1. Santa Marta- Riohacha- Paraguacho n (1994). 2. Autopistas de Los Llanos (1994). 3. Autopistas del Café (1997). 4. Hatovial (1998). Develops its first project overseas: Autopistas del Nordeste, in Dominican Republic. Places first, AA+ rated,us$20mm, Bond issued in Colombian market. Develops its first project for Bogota s mass transportation system: Transmilenio Phase II. Stock is listed in the Colombian Stock Exchange. Awarded with El Dorado Airport Concession. Awarded with Boulevard Turístico del Atlántico (BTA), toll road concession in Dominican Republic Awarded Autopistas de las Americas. Awarded concession for the operation of toll plazas nationwide. Awarded Aruba Green Corridor, marking entrance into Netherland Antilles Market. Awarded Pacifico 2 Concession, first concession under the Colombian Governments 4G program. Acquisition of 50% stake in Mariscal Sucre Airport in Ecuador. Grupo Argos acquires a 88,55% participation in Odinsa. Changes in its administration, its business name and image and its headquarters. Increased its participation in ADN and BTA from 42% to 67.5%.

4 Parent Company Grupo Argos, holding with sustainable investments on infrastructure. Its legal nature corresponds to a corporation, listed in the Colombia Stock Exchange, which is also the case of Argos (cement), Odinsa (road and airport concessions) and Celsia (power). Since December 26th 2016, Grupo Argos acquired a 98,55% participation in Odinsa.

5 Corporate Governance Shareholders Assembly Board of Directors Chief Executive Officer MAURICIO OSSA Chief Financial Officer Administrative and Human Resources Vice President Vice President of Corporate Affairs Road Concessions Vice President Airport Concessions Vice President PABLO ARROYAVE CARLOS MARIO ALZATE EDUARDO BETTIN GUSTAVO ORDOÑEZ ANDRES ORTEGA

6 Business Portfolio Long-term infrastructure concessions in two specific business segments, at any stage of the value chain.

7 Business Portfolio Value of the portfolio by strategic sector Value of the portfolio by project location Roads 36% National 29% Airports 64% International 71% Average operating life of the Concessions: 14.8 Years Average life of the Concessions under construction: 25 years Source: KPMG Purchase Price Allocation

8 Divestitures 2015 AKF ADN BTA Green Corridor Malla Vial Meta 43% 51% 43% 62% 100% Pacífico II Vinus Sta Marta - Paraguachón Hatovial 25% 22% 40% 22% Quiport Opain SPSM 47% 35% 12% Gena Genpac 60% 51% Seeking total divestiture

9 Divestitures 2017 AKF ADN Y BTA 60% 68% Control in ADN and BTA in D.R. Acquisition of control in Pacifico 2, a 4G project (25% to 79%) swap for Hatovial (22%), Vías del Nus (22%), Autopistas del Café (2%) and Green Corridor (100%). Divestment process in Santa Marta - Paraguachón Divestment in Sociedad Portuaria de Santa Marta, Gena and Genpac. Malla Vial Meta 51% Opain Pacífico II 79% Quiport Green Corridor 100% 35% 47%

10 Business portfolio Milestone0: New Idea Structuring and commercial management Milestone1: Contract Award Financial Management Milestone2: Financial Closure Construction Milestone 3: Technical completion Operation and Maintenance Milestone 4: Reversion to Government Evolution R.Privilegio AKF (60%) La Pintada (78,85%) Vías del Meta ALlanos BTA(66%) ADN (68%) SMRP (35%) APP s Pistas Opain(35%) APP s Ampliaciones Quiport (50%)

11 Business portfolio RUTA DEL SOL 4G CONCESSIONS (STRUCTURING PHASE) 4G CONCESSIONS (AWARDED) ODINSA CURRENT CONCESSIONS 1. Concession Autopistas del Café 2 2. Concession La Pintada 3. Concession Vial de los Llanos 3

12 Business portfolio 1 AUTOPISTAS DEL NORDESTE 2 BOULEVARD TURISTICO DEL ATLÁNTICO

13 Autopistas de Café % Overview First generation concession with guaranteed minimum revenue (GMI). Initiation and termination of activities : January January Km (132km single lane and 65 km double lane) in Quindío, Risaralda and Norte del Valle. 7 toll booth stations, 3 costumer service centers, 1 operational control center and 1 weighing station

14 Vías de los Llanos - Malla Vial del Meta - 51% PPP of private initiative (without government resources). Awarded on April 9th 2015, signing of the contract May 5th and the initiation document June 9th Tollbooth stations: 6 in total, 1 new. 354 Kilometers. Overview

15 Conexión Pacífico % PPP of Public Initiative (4G with future budget allocations & Guaranteed traffic revenues). Milestones of the contract: awarded on May 22, Project start-up: November 11, year contract. Overview 98Km ; Construction: La Pintada Bolombolo (44 Km) and maintenance: La Pintada Primavera (54 km).

16 Autopistas del Nordeste (DR) % Overview Contract Law, approved by the Legislative Chambers and ratified by the President. Guaranteed Minimum Revenue. Awarded in July 18, Works were completed in June year contract, 107km, 3 toll stations. Issued US$162 MM in debt under the 144-A Regulation.

17 Boulevard Turistico del Atlántico (DR) % Overview Contract Law, approved by the Legislative Chambers and ratified by the President. Guaranteed Minimum Revenue. Awarded in Likewise, in 2009 its second stage was approved; starting construction in 2007 and ended in Funded by multilaterals (BID, BEI, CAF, Proparco) for US$151.1 MM with a 15 year maturity. 1 toll station and 124Km (24 Km new roads)

18 Opain - 35% Overview The concession contract was signed on September 12, 2006, for the management, operation, commercial exploitation, maintenance, modernization and expansion of the El Dorado International Airport. Third airport with the largest number of passengers in Latin America after Mexico and Sao Paulo. First airport in cargo movement in Latin America. In 2016 the airport received 31.5 MM passengers. Awarded with four stars by Skytrax. Recognized as the best airport in South America.

19 Mariscal Sucre, Quito - 50% Overview One of the two airports in Ecuador for international passengers and cargo. 5.5 million passengers in Fully compliant with ICAO standards; one of the few in Latin America Initiated operations on February 20, Strong local travel market with 98% Origin-Destination Quito. 12 airlines currently operating. Designed with the expansion of the runway platform, terminal facilities and loading allocations, allowing its growth.

20 Financial Statements 2016 Aeropuerto El Dorado

21 2016 vs 2015 Operational Revenues +65% EBITDA +>200% Net Income +>200% Financial Debt +51% Real Dec Real Dec Real Dec Real Dec Real Dec Real Dec Concesión Vial de los Llanos Real Dec Real Dec % Cash Individual Financial Debt* +5% Cash* +43% Real Dec2015 Real Dec2016 Real Dic2015 Real Dic2016 Real Dic2015 Real Dic2016 * Includes Odinsa, Odinsa Holding Individual, Odinsa PI and Odinsa Servicios

22 Financial Statements 2016 PRINCIPALES DATOS FINANCIEROS Dec2016 CONCESIONES VIALES CONSTRUCCION CONCESIONES DE AEROPUERTOS Otras op. Int (*) Otros directos Odinsa (**) Ingreso Operacional Ingresos por Método de Participación Ingreso Operacional+MPP Utilidad Bruta EBITDA EBITDA RECURRENTE Utilidad Operacional Utilidad o Pérdida en la matriz Margen bruto 45% 57% 100% 100% 96% 84% Margen EBITDA 32% 53% 86% 98% 38% 72% Margen Operacional 31% 52% 86% 98% 35% 69% Margen Utilidad 29% 38% 41% 122% 6% 45% Deuda Financiera Deuda Financiera de CP Disponible Total Operational Income 0% 23% 13 % EBITDA 25% 28% Net Profit 16% 64% 0% 47% Road Concessions Airport Concessions Construction *Negocios directos de O.Holding (financiamiento a filiales en el exterior, carga financiera e impuestos). **Negocios directos de Odinsa (Operación de Autopistas, Inmobiliarios, gasto corporativo, carga financiera e impuestos nacionales). ***No se muestra la columna de eliminaciones entre negocios para esta presentación. 27 % 57%

23 Contact Rodrigo Arias Castaño Gerente de Gestión Financiera y Seguros rarias@odinsa.com

24 Autopistas del Café Thank you March 2017