Construcciones El Condor Sa · BVC:ELCONDOR
Construcciones El Condor Sa — Investor Presentation (October 2024)
46 slides from Construcciones El Condor Sa's investor presentation, Oct 18, 2024
Slide 1: We build the future investing in the present
We build the FUTURE investing in the PRESENT PACÌFICO PACÍFICO 22
Slide 2: Disclaimer
DISCLAIMER This document has been prepared by Construcciones El Condor S.A. (the "Company") exclusively for use and assistance in the presentation of the Company's activities, therefore it may not be disclosed or published by any person or public or private entity for any other purpose, except with
Slide 3: Contents
CONTENTS 1. Cóndor: Overview 2. Cóndor Construction 3. Cóndor Investment 4. Building Sustainable Value 5. Financial Performance 6. Attachments 3
Slide 4: 1. Cóndor: Overview
1. CÓNDOR: Overview
Slide 5: Our commitment to the future
OUR COMMITMENT TO THE FUTURE To us, building is an act of development, sustainability, and service. We work every day with a commitment to leave a positive and lasting legacy for our stakeholders. VINUS
Slide 6: Cóndor: A Key Overview
CÓNDOR: A Key Overview 45 years connecting Colombia with quality infrastructure • A family-owned company with experience throughout the country since 1980, listed on the Colombian Stock • Solid company represented in productive and COP$ 2.3 bn Exchange since 2012. investment assets. August 2024 • So
Slide 7: Experience, capacity and coverage in road infrastructure
1G SANTA MARTA PARAGUACHÓN Share: 2.6% 250 km 4G RUTA AL MAR / TRANSVERSAL AMÉRICAS 4G CESAR GUAJIRA / RED VIAL DEL CESAR 8 years in operation Share: 50% - 66% Share: 100% +33 million USD 504 km – 771.5 km 233.5 km -120 km 28 Contracts 3G TÚNEL ABURRÁ ORIENTE Share: 12.5% 57.7 km AEROPUERTO EL DORAD
Slide 8: Financial Performance August 2024
FINANCIAL PERFORMANCE August 2024 Figures in millions of COP Financial Results Financial Debt Backlog (6 years) Concessions, Concesiones, • Concesión Financial Obligations $227,700 Ruta al Mar Revenue $882,456 , 91% (Corumar) $810.778 • Concesión Vías del Nus Leasing $83,149 , (Vinus) $280.780 vs. A
Slide 9: Our Human Talent
OUR HUMAN TALENT Diversity, Talent and Dedication 5,465 Direct Employees 458 5,007 847 Indirect Employees Our diverse and dedicated workforce is our most valuable asset and the key to 45% of our 35.5% of 51% of non- LEADERS are skilled labor our success. Our focus on safety, quality, efficiency, sus
Slide 10: A Commitment to Life
A COMMITMENT TO LIFE Taking care of our people to build a safer future. To ensure a healthy and safe environment for each employee, it is We implement with rigor: important to understand that each person who is part of the Condor • Risk analysis for each of the activities we perform. team is also a
Slide 11: Leadership and Experience
LEADERSHIP AND EXPERIENCE Leaders that inspire and drive cooperation in search of collective success The Board of Directors comprises a diverse team of El equipo directivo tiene más de 23 años de experiencia professionals with extensive experience in key sectors en la industria liderando la compañía
Slide 12: We integrate capabilities to maximize results
WE INTEGRATE CAPABILITIES TO MAXIMIZE RESULTS Construction Investment 12 TÚNEL ABURRÁ ORIENTE
Slide 13: 2. Cóndor Construction
2. CÓNDOR CONSTRUCTION
Slide 14: Construction: Experience, capacity and coverage
CONSTRUCTION Experience, capacity and coverage in road infrastructure +115 PROJECTS EXECUTED COP $7 bm COP$7bn Simultaneous execution Capacidad de ejecución executed Ejecutados capacity in en simultánea different diferentes EPC EPC regions regionesofdel Colombia país 5.554 5,553km 21,201 27.613m 21.
Slide 15: Construction Services
CONSTRUCTION Services ENGINEERING Comprehensive project design and planning to ensure optimal technical solutions and financial viability. PROCUREMENT AND SUPPLIES MANAGEMENT environment, social and property tax) We work in harmony with the environment and Efficient supply chain management to ensure
Slide 16: The construction business has weathered the industry slowdown
The construction business has weathered the industry slowdown Infrastructure construction is a key driver of economic development and job creation, which is why our construction business is cyclical and largely follows economic growth. % Var. CEC Revenue Ingresos CEC % Var. PIB Total Construction Co
Slide 17: Historical results of the Construction business
Historical results of the Construction business Prior to the COVID-19 pandemic, gross margins in Ingresos por Construcción Revenue from Construction Resultado Gross ResultBruto Margen Gross Bruto Margin the construction business exceeded 19%. However, after this event, which not only generated a $1,
Slide 18: Main Construction Projects EPC and Public Work
Main Construction Projects EPC and Public Work Type of Total Amount of Estimated % EPC Client Purpose of the Contract Representative Items Contract EPC Contract Completion Date CEC Bridges: UF1: 18 und - UF2: 11 und Excavations: UF1: 8.500.000 m³ - UF2: 7.800.000 m³ EPC Contract of functional units
Slide 19: Backlog 2024-2030 – Construction Business
BACKLOG 2024-2030 – Construction Business Figures in millions of COP BackLog composition per type of contract $ 1,386,414 1.62 Others 2% Public Work 31% billion $ 700,924 $ 226,075 $ 67,358 $ 65,548 $ 55,389 $ 91,774 2024 2025 2026 2027 2028 2029 2030 Backlog pendiente firma - - $ 165,000 $ 165,000
Slide 20: Challenges of the Construction Business
CHALLENGES OF THE CONSTRUCTION BUSINESS • Access to new sources of resources that allow the financing of the working capital required by the construction business. • Execute projects on time and with the expected profit margin. • To have a flexible company that adapts quickly to the economic cycles
Slide 21: 3. Cóndor Investment
3. CÓNDOR INVESTMENT
Slide 22: Investment
INVESTMENT We promote development through high-impact projects. Share in 13 concessions COP$13bn Inversionistas en Investors in concessions CAPEX concesiones since 1G desde la 1G Local and Originadores APP ++ 2.700Km 2.700Km international de las APP via via Originators financing concesionada concesi
Slide 23: Investment Services
INVESTMENT Services STRUCTURING We originate, formulate, and manage investment projects from conception to implementation, ensuring their financial viability under project finance standards. We analyze their feasibility, design a solid and profitable business model, and cover all legal and regulator
Slide 24: Concessions
CONCESSIONS Focusing on road concessions Equity Contributed • The Company has invested in concessions as a strategy that complements and drives the construction business, combining short and long-term business cycles. Otras • Investments in concessions guarantee a stable cash flow in the long term a
Slide 25: Our Main Businesses
INVESTMENT Our Main Businesses Structuring Sale Observations Construction Operation Financial Data and Finance Equity Contribution: $269,690 On September 24, 2024, the Share Purchase and Sale Million. Agreement and Assignment of Subordinated Debt EPC Contract Value: $1.87 Bill. (“SPA”) was signed wi
Slide 26: Track Record of the Concessions Business
Track Record of the Concessions Business Period of Equity Dividends MOIC Investment Client % CEC TIR Investment Contribution + Sale Estimated OPAIN ANI 2006-2017 $82.006 Mill 15% $240.000 Mill 21% 2,9 Concesión Túnel ANI 1998-2019 $3.137 Mill 12.5% $70.000 Mill 27% 22,3 de Oriente Department of Hato
Slide 27: Challenges of the Investment Business
CHALLENGES OF THE INVESTMENT BUSINESS • Managing the current assets implies improving operational efficiency by optimizing the concession costs in operation and maintenance. • Stabilize the asset by winning the negotiations with the State within the framework of the demand processes currently underw
Slide 28: 4. Building Sustainable Value
4. BUILDING SUSTAINABLE VALUE
Slide 29: Smart and Resilient Businesses
To Construcciones El • Solvency Cóndor, sustainability is FINANCIAL • Financial transparency the construciton of • Responsible profitability SMART AND • Risk management RESILIENT Focus on respect for and promotion of human rights: BUSINESSES • Generation of local employment AMBIENTAL SOCIAL • Foster
Slide 30: Responsible Engineering
RESPONSIBLE ENGINEERING Creating social and environmental value for a sustainable future Construcciones El Condor contributes to the construction of sustainable development by aligning its strategy with the United Nations 2030 Agenda. Taking into account its value chain and strategic guidelines, it
Slide 31: A Dynamic Landscape of Great Opportunities
A DYNAMIC LANDSCAPE OF GREAT OPPORTUNITIES The road construction and infrastructure sector in Colombia and Latin America is at a crucial moment, driven by the need to modernize existing infrastructure, improve connectivity and meet the demands of a growing population COLOMBIA The transportation sect
Slide 32: Challenges of the Current Market
CHALLENGES OF THE CURRENT MARKET Corporate Setting • PROFITABILITY: Inflation has impacted our costs and expenses. The increase in costs has not been reflected in a proportional increase in revenues, resulting in an operating loss. • USE OF CAPITAL: The construction business has become very capital
Slide 33: Growth and Diversification Strategy
GROWTH AND DIVERSIFICATION STRATEGY Building a sustainable future INDICATOR 2024 2025 2026 2027 By 2027, Construcciones El Cóndor will be consolidated as a EBITDA margin of construciton 12% 12% 15% 18% leading multi-Latin company in sustainable infrastructure, with: Accrued revenue 1.2 Bn 1.8 Bn 2.4
Slide 34: 5. Financial Performance
5. FINANCIAL PERFORMANCE
Slide 35: Development of Assets and Equity
Development of Assets Figures in million of COP Construcciones El Condor has had an accelerated growth becoming one of the most important companies in the construction sector in Colombia. Today we have assets in excess of $2 billion, which are the financial backing for all our operations. $2,454,470
Slide 36: Evolution of Debt and Working Capital; Average Cost of Debt
Evolution of Debt and Working Capital Figures in million of COP The Construction business evolved to be intensive in working capital and CAPEX, which is why, with the accelerated growth of the company, it has been necessary to resort to additional sources of financing with the most recognized financ
Slide 37: Evolution of Capital Structure; Interest Rates
Evolution of Capital Structure 31% 28% 40% 35% 50% 46% 46% 45% 48% 51% 45% 63% 69% 67% 63% 65% 77% 76% 69% 72% 60% 65% 50% 54% 54% 55% 52% 49% 55% 37% 31% 33% 37% 35% 23% 24% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 August 2024 Proy. Agosto-2024 SalesVenta Proj
Slide 38: Current Financing Strategy
Current Financing Strategy Asset Financing Reorganization of Current Debt Fleet of Machinery Source of financing: Leasing CONCESSIONS CLAIMS and Transportation Robust loan to value Equipment Structured Loans Reprofiling Loans Source of Financing revolving credit with local banks for $65,000 mi
Slide 39: Consolidated Results as of August 2024
Consolidated Results as of August 2024 Figures in million of COP Main financial figures of the Comprehensive Income Statement Acrrued Jan Feb March April May June July Aug Aug. 2024 Operating Income $86,203 $106,874 $110,625 $99,333 $87,160 $92,734 $113,353 $114,496 $810,778 Gross Result $14,441 $26
Slide 40: Results per Business Unit as of August 2024
Results per Business Unit as of August 2024 Figures in million of COP Jan Feb March April May June July Aug TOTAL Income from ordinary activities $82,963 $103,633 $105,847 $96,500 $82,430 $89,764 $93,751 $110,978 $765,868 Gross Result $12,207 $24,754 $14,688 $10,102 ($7,297) ($6,646) ($12,870) ($3,5
Slide 41: Consolidated Results as of August 2024
Consolidated Results as of August 2024 Figures in million of COP REVENUE, EBITDA AND EBITDA MARGIN $1,000,000 $905,369 $874,798 $876,741 $874,820 30.0% 23.2% $794,995 $810,778 18.8% $800,000 14.7% 20.0% 12.6% 12.5% $566,393 $600,000 8.0% 10.0% $400,000 $170,606 $202,605 0.0% $200,000 $100,342 $128,7
Slide 42: Consolidated Results as of August 2024: Indebtedness Indicators
Consolidated Results as of August 2024 Figures in million of COP INDEBTEDNESS INDICATORS 2018 2019 2020 2021 2022 2023 Aug.- 2024 Aug.-2024 Financial Expenditures (Millions) $68,363 $78,587 $71,389 $57,536 $119,786 $164,802 $147,321 Financial Debt (Millions) 684,029 $713,339 $722,078 $801,152 $872,7
Slide 43: Shareholder Structure and Share Price Performance
Shareholder Structure and Share Price Performance Since 2012, Construcciones El Condor democratized the company with its registration in the Colombian Stock Exchange, issuing common shares with a par value of $25 per share and a base amount of 106,007,068 shares. El Cóndor Share Price Performance vs
Slide 44: Benchmarking with other Colombian companies
Benchmarking with other Colombian companies Of the 37 largest companies and concessions in Colombia according to the reports of the Financial Statements Transmitted to the Superintendence of Companies for the year 2023, Construcciones El Condor ranks first in terms of revenue generation and second i
Slide 45: Contact
CONTACT Diana Patricia Benjumea Muñoz Financial Manager accionistas@elcondor.com +57 (4) 4480029 Source: Construcciones El Cóndor S.A. 45
Slide 46: Gracias
ructura e Inversiones www.elcondor.com wn v [= 2 0 u = a 7) ie fo) U < vi oc ) Oo Zz Oo U =_ uw Ingenieria de Infra
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