Corporate PresentationMarch 2017
Mariscal Sucre Airport
Highlights
Santa Marta - Paraguachón
History
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.
1994
1998
2005
2012
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
Odinsa is
founded by
42
companies
from the
construction
sector.
19922000
2004
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.
2013
2015
2005
2007
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%.
20161994
1998
2005
20121992
2000
2004
2013
2015
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).
2005
2007
Awarded
Autopistas de
las Americas.
Awarded
concession for
the operation
of toll plazas
nationwide.
2016
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.
PABLO
ARROYAVECARLOS MARIO
ALZATE
EDUARDO
BETTINGUSTAVO
ORDOÑEZ
ANDRES
ORTEGA
Chief Financial
Officer
Administrative and
Human Resources
Vice President
Vice President of
Corporate Affairs
Road Concessions
Vice President
Airport Concessions
Vice President
MAURICIO OSSA
Chief Executive
Officer
Board of Directors
Shareholders
Assembly
Corporate Governance
Business Portfolio
Long-term infrastructure concessions in
two specific business segments, at any
stage of the value chain.
Roads 36%
Airports64%
Value of the portfolio by
strategic sector
National29%
International71%
Value of the portfolio by project
location
Source: KPMG Purchase Price Allocation
Business Portfolio
Average operating life
of the Concessions:Average life of the Concessions
under construction:
14.8
Years
25
years
43%
62% 100%51% 43%
2015
22%40%
22%
51%60%
25%
47% 35%
12%
AKF ADN BTA Green Corridor Malla Vial Meta
Pacífico II VinusSta Marta -
Paraguachón Hatovial
SPSMOpainQuiport
Gena Genpac
Seeking total divestiture
Divestitures
2017
Divestitures
35%47%
60% 68%
79%
51%
AKF ADN Y BTA
Malla Vial Meta Pacífico II
OpainQuiport
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.
100%
Green Corridor
10
Financial Management Operation and
Maintenance
Structuring and commercial
management EvolutionConstruction
Milestone1:
Contract Award
Milestone2:
Financial
Closure
Milestone 3:
Technical
completion
Milestone 4:
Reversion to
Government
Milestone0:
New Idea
Opain(35%)
Quiport (50%)
AKF (60%)
ADN (68%)BTA(66%)
ALlanos
SMRP (35%)
APP’s Pistas
APP’s Ampliaciones
La Pintada
R.Privilegio
Vías del Meta
Business portfolio
(78,85%)
Business portfolio
RUTA DEL SOL
4G CONCESSIONS (STRUCTURING PHASE)
4G CONCESSIONS (AWARDED)
ODINSA CURRENT CONCESSIONS
1. Concession Autopistas del Café
2. Concession La Pintada
3. Concession Vial de los Llanos
1
2
3
Business portfolio
1 AUTOPISTAS DEL NORDESTE
2 BOULEVARD TURISTICO DEL ATLÁNTICO
• First generation concession with guaranteed
minimum revenue (GMI).
• Initiation and termination of activities : January 1999
- January 2027.
• 270.2 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
Overview
Autopistas de Café - 61.92%
• PPP of private initiative (without government resources).
• Awarded on April 9th 2015, signing of the contract May
5th and the initiation document June 9th 2015.
• Tollbooth stations: 6 in total, 1 new.
• 354 Kilometers.
Overview
Vías de los Llanos - “Malla Vial del Meta” - 51%
• PPP of Public Initiative (4G – with future budget
allocations & Guaranteed traffic revenues).
• Milestones of the contract: awarded on May 22, 2014.
Project start-up: November 11, 2014.
• 25 – year contract.
• 98Km ; Construction: La Pintada – Bolombolo (44 Km)
and maintenance: La Pintada – Primavera (54 km).
Overview
Conexión Pacífico 2 – 78.85%
• Contract Law, approved by the Legislative Chambers and
ratified by the President.
• Guaranteed Minimum Revenue.
• Awarded in July 18, 2001. Works were completed in June
2008.
• 30 year contract, 107km, 3 toll stations.
• Issued US$162 MM in debt under the 144-A Regulation.
Overview
Autopistas del Nordeste (DR) - 67.5%
• Contract Law, approved by the Legislative Chambers and
ratified by the President.
• Guaranteed Minimum Revenue.
• Awarded in 2001. Likewise, in 2009 its second stage was
approved; starting construction in 2007 and ended in
2011.
• 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)
Overview
Boulevard Turistico del Atlántico (DR) - 67.5%
• 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.
Overview
Opain - 35%
• One of the two airports in Ecuador for international
passengers and cargo.
• 5.5 million passengers in 2016.
• Fully compliant with ICAO standards; one of the few in
Latin America
• Initiated operations on February 20, 2013.
• 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.
Overview
Mariscal Sucre, Quito - 50%
Financial Statements 2016
Aeropuerto El Dorado
Concesión Vial de los Llanos
* Includes Odinsa, Odinsa Holding Individual, Odinsa PI and Odinsa Servicios
2016 vs 2015
133.190
670.20
2
Real Dec2015 Real Dec2016
Net Income
308.204
1.065.8
30
Real Dec2015 Real Dec2016
EBITDA
902.096
1.485.594
Real Dec2015 Real Dec2016
Operational Revenues
+65%
432.441
835.240
Real Dec2015 Real Dec2016
Cash
1.559.616
2.350.
151
Real Dec2015 Real Dec2016
Financial Debt
754.461 801.529
Real Dic2015 Real Dic2016
Individual Financial Debt*
52.659
75.153
Real Dic2015 Real Dic2016
Cash*+43%
+93%
+>200%+51%
+5%
+>200%
*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.
Financial Statements 2016
CONCESIONES
VIALES CONSTRUCCION
CONCESIONES DE
AEROPUERTOS Otras op. Int (*)
Otros
directos
Odinsa (**)
Total
Ingreso Operacional 547.483 171.941 6.019 708.911 120.049 1.360.748
Ingresos por Método de Participación 251 24.231 100.682 0 0 124.847
Ingreso Operacional+MPP 547.734 196.173 106.702 708.911 120.049 1.485.594
Utilidad Bruta 246.337 111.097 106.702 708.911 115.825 1.241.747
EBITDA 177.196 103.374 92.124 695.826 45.352 1.065.830
EBITDA RECURRENTE 177.196 103.374 92.124 33.413 -41.157 316.909
Utilidad Operacional 171.239 102.417 92.124 695.826 42.154 1.028.628
Utilidad o Pérdida en la matriz 158.833 74.893 43.272 865.613 7.237 670.202
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 Uti l idad 29% 38% 41% 122% 6% 45%
Deuda Financiera 992.038 909 555.675 444.407 357.122 2.350.151
Deuda Financiera de CP 36.695 0 24.140 294.371 146.461 501.667
Disponible 711.187 47.006 12.594 17.003 47.421 835.240
PRINCIPALES DATOS FINANCIEROS Dec2016
64%23%
13%
0%Operational
Income
57%27
%
16%
Net Profit
47%
28%
25%
0%EBITDA
Road Concessions
Airport Concessions
Construction
Contact
Rodrigo Arias Castaño
Gerente de Gestión Financiera
y Seguros
Thank youMarch 2017
Autopistas del Café