In a task that has been developing for several months, Grupo Argos is reorganizing the house not only to consolidate its operating and electrical energy projects, but also in road concessions and airports to strengthen the infrastructure segment, with which they will seek to be listed on the New York Stock Exchange or an “efficient” stock market.
Thus, the management of the organization seeks on this front to develop assets with similar characteristics in which stable cash flows and long-term investments stand out, not only to expand the portfolio of road projects, but also to increase the profits, thanks to this it allow an optimization of the structure in order to maximize operational, tax and capital efficiency.
“Over the past 10 years, Grupo Argos has made a series of strategic advances that today allow it to make the transition to consolidate itself as a major infrastructure works manager. Since the operation spin-off cement business, the organization has built a significant base of alternative assets focused on this business,” the organization said.
On the road concessions front, the organization has short and medium-term investment plans for more than $4.5 billion in the new vehicle with the Macquarie investment fund, and for Argos that means a prospect that , with the exceptional performance of the active airport and road, consolidates a growth perspective.
In addition, it offers three new allocation processes. “The infrastructure programs represent an opportunity to continue the process of narrowing the country’s gap in this area, developing projects in addition to roads, airports, railways and rivers,” the company said. .
And internationally, the organization is evaluating the expansion of its portfolio in Chile and Peru, exploring various projects at the structuring, construction, operation and maintenance stages “that meet the strategic fundamentals , risk appetite and profitability expectations that define the platform and association”.
Financial results
Total EBITDA (earnings before tax, depreciation and amortization) recorded in the concession business at the Grupo Argos level increased by 39% year-on-year and closed the first quarter of 2022 at 438,000 million dollars, with an increase of 178,000 million dollars in the contribution of Opain (operator of Bogotá airport).
“It is important to emphasize that the financial statements recorded by Odinsa (subsidiary of the investment company) do not include the consolidation of Opain (another subsidiary), since this asset is consolidated at the level of Grupo Argos,” the company clarified.
Total Odinsa road concession traffic closed the quarter at 104,000 vehicles per day, down 9% year-on-year, but up 17%, excluding the contribution of the Autopista del Nordeste and the Boulevard Turístico del Atlantic.
On the other hand, Odinsa presented positive results with an increase in traffic and financial results. “El Dorado Airport not only recovered, but closed March with traffic 7% higher than in 2019,” the Grupo Argos spokesperson said.
Financially, the airport in the capital of the country recorded an Ebitda of 91 billion dollars in the first quarter of this year, up 11% compared to that recorded in the same period of 2019, and a net profit of $21 billion, 4.1 times higher than that reported between January and March, also in 2019.
On the 5G tracks
For the technicians of the Argos group, the 5G concessions represent a great business opportunity since their objective transcends roads and aims to enhance air, river and rail transport infrastructures.
“This look is even more relevant if we understand the topographic conditions of the country and the possibility of accessing multimodal transport that connects the entire national territory, understanding the conditions of each region,” Argos said.
The conglomerate also explained that the organization has sealed an alliance with Macquarie Asset Management, one of the largest asset managers in the world, to create an investment platform and manage road assets in Colombia such as: Pacífico 2 , Túnel Aburrá Oriente, Autopistas del Café and Malla Vial del Meta, in addition to private initiatives currently underway, such as Conexión Centro y Perimetral de la Sabana, which, if awarded, will receive financial support and significant technical force for their execution.
Likewise, within the framework of this strategic alliance, Grupo Argos will continue to explore opportunities to continue contributing to the connectivity and competitiveness of the country with works such as Accesos Norte 2 north of Bogotá and Magdalena 1 and Magdalena 2 .
“5G concessions meet market needs and have significant private sector participation,” the source pointed out.
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