Mariscal Sucre Airport Results Presentation 2Q2016€¦ · Highlights 1.1 Road Concessions 1.2 Airport Concessions 1.3 Transparency Line 2. ... Cop $47,462 million. This includes

Results Presentation 2Q2016August 22 2016

Mariscal Sucre Airport

1. Highlights 1.1 Road Concessions

1.2 Airport Concessions

1.3 Transparency Line

2. Consolidated Results as of June 20162.1 Against June 2015

2.2 Revenues per Business Line

2.3 Consolidated Balance Sheet

2.4 Debt

El Dorado Airport2

Agenda

1. Highlights

Concession Pacífico 2

32.714

33.563

1S2015

1S2016

Average Daily Traffic

+ 849 Daily vehicles or 2,6%

76.334

83.361

1S2015

1S2016

Collections Cop$

+ 9,21% in collections, due to higher traffic

Highlights

National Road Concessions - Autopistas de Café 61.92%

In 1S2016, collections increased by 9.21% vs the same period in 2015.

On May 17 the ANI filed an arbitration claim at the Chamber of Commerce of Bogota against Autopistas del Café.

On June 22 an amendment to the concession agreement was signed to modify the clause to designate threearbitrators by mutual agreement.

Currently, we are awaiting the acceptance of the arbitrators and the arbitration panel installation.

4

National Road Concessions - Vías de los Llanos - 51,0%

On July 6 the amendment No. 3 to the Concession Agreement was signed. It extends the term of the financialclosure from 365 to 540 days. It is expected to achieve the financial closure in December 2016.

On August 11, ANI ordered the increase in toll rates, according to resolution 1130. However, the surroundingcommunity has marched expressing their disagreement with the significant increase in tariffs.

18.538

22.661

Real 1S2016

Presupuesto


- 4,123 daily vehicles or -8,19%, due

to minor oil activities.

42.014

71.733

Real 1S2016

Presupuesto

Collections Cop$

- 41,43% in collection, due to the drop in

heavy vehicle traffic.

5

Highlights

All environmental licenses and PAGAs(Adaptation Plans of EnvironmentalGuide) have been obtained.

The rehabilitation of Unit 5, betweenLa Pintada and Primavera, hasadvanced by 70,4%. Delivery isschedule for October 2016.

Progress in land acquisition in Units 1,2, 3 and 4, stands at 96%, 71%, 100%and 31%, respectively.

During 2015 the concession´s trafficpresented a 4,76% result higher tanbudgeted. Likewise, for 2016 an equallypositive increase is expected.

National Road Concessions - Conexión Pacífico 2 - 25,0%

In order to increase the participation in Pacífico 2, Odinsa begannegotiations to divest in some of the company´s projects

6

Odinsa S.A.

25%

Termotecnica

Coindustrial

S.A.S.

13,50%El Cóndor

S.A.

21,15%

ICEIN S.A.S.

9,20%

Mincivil S.A.

21,15%

Mota Engil e

Construcao S.A.

10%

Odinsa S.A.

69,65%

El Cóndor S.A.

21,15%

ICEIN S.A.S.

9,20%

Highlights

International Road Concessions - Auto. del Nordeste (ADN) - 67.5%

42,5%

32,5%

25,0%

ODINSA REMIX GRODCO

67,5%

32,5%

ODINSA REMIX

9.612

10.606

2Q2015

2Q2016


+10,3% daily vehicles

5.899

6.399

2Q2015

2Q2016

Collections US$

The increase in traffic collection

represented an additional 8.5%

7

Highlights

On May 10, the sales transaction was completed toincrease participation in the road concession projectsAutopistas del Nordeste and Tourist AtlanticBoulevard, located in the Dominican Republic.

International Road Concessions - Blvd. Turístico del Atlántico (BTA)- 67.5%

On May 10, the sales transaction was completed toincrease participation in the road concession projectsAutopistas del Nordeste and Tourist AtlanticBoulevard, located in the Dominican Republic.

42,5%

32,5%

25,0%

ODINSA REMIX GRODCO

67,5%

32,5%

ODINSA REMIX

8

3.897

3.725

2Q2015

2Q2016


1.269.532

1.413.867

2Q2015

2Q2016

Collections USD

Collections increased by 11,37%,

- 4,39%

Highlights

Airport Concessions - Opain - 35%

On 13 July 2016 the Act of Settlement was signed between AVIANCA and OPAIN in the Superintendencia deSociedades on the operation of certain areas, including the Terminal Puente Aéreo.

Fulfilled the agreement the lease agreement will be terminated between the Aerocivil and Avianca, and it mustsubmit the common areas of the Terminal Puente Aéreo, the commercial premises and the parking lot.

9

4.119.646 4.257.171

1.602.726 1.697.568

-

2.000.000

4.000.000

6.000.000

8.000.000

2015-2 2016-2

No. de Pasajeros que Pagan Tasa

Aeroportuaria

Nacionales Internacionales

14.224.775

14.854.153

2015-2

2016-2

Pasajeros que pasan por aeropuerto

+4,42% en número total

de pasajeros.

+4,06%

Highlights

Airport Concessions - Mariscal Sucre, Quito - 50%

National and international traffic have decreased by 12,89% and 7,18% respectively, affected by the macroeconomic situation in Ecuador, the earthquake in April, the operational failure in Cuenca´s Airport and Tame´s cancelled routes.

After the support given to Manta airport since the earthquakein Ecuador, Quiport has also helped Mariscal Lamar Airport inCuenca due to the incident in its runway by lending its staffand equipment to make measurements of the frictioncoefficient of the runway.

10

1.515.135 1.319.890

1.113.9001.033.973

0

500.000

1.000.000

1.500.000

2.000.000

2.500.000

3.000.000

2015-2 2016-2

Domestic and International Passengers

Doméstico Internacional

-10,47%

Highlights

Transparency Line

On August 8, Odinsa´s Transparency was enabledin compliance with Chapter IV of the Code ofBusiness Conduct.

This channel is used to report anonymously andconfidentially wrongdoings, concerns, complaints,or possible violations of the Code of BusinessConduct.

Good practices of Corporate Governance are ourcommitment in Odinsa.

11

Highlights

2. Consolidated Results as of June 2016

El Dorado Airport

Consolidated Results as of June 2016

Against June 2015

13

Concesión Vial de los Llanos

32

4.9

37

47

3.5

02

Real Jun2015 Real Jun2016

Operational Income

+ MPP

+46%

14

9.3

55

25

3.6

37


EBITDA

+70%

59

.91

9

10

0.2

22


Utilidad Neta

+67%

58

3.5

12

2.4

51

.40

0


Deuda Financiera

>+200%

• In 2Q2016, Odinsa reports a solid financial performance. Its income, EBITDA and Net Profit increased by 46%,70% and 67%, respectively

• Its strong performance is attributable to the results of the concessions, major construction activity, better resultsin Opain, the consolidation of ADN and BTA in may and the inclusion of Quiport sin December 2015.

Revenues per Business Line

14


CONCESIONES

VIALES CONSTRUCCION

CONCESIONES DE

AEROPUERTOS ENERGIA

Otras op.

Int (* )

Otros

directos

Odinsa (* * )

Eliminaciones

(* * * ) Total

Ingreso Operacional 215.373 76.617 2.982 152.612 28.828 11.313 -69.540 418.184

Ingresos por Método de Participación -833 2.060 56.943 0 0 0 -2.984 55.319

Ingreso Operacional+MPP 214.539 78.677 59.924 152.612 28.828 11.313 -72.525 473.502

Utilidad Bruta 105.198 48.720 59.924 77.697 28.828 9.331 -15.139 314.693

EBITDA 77.240 43.392 59.739 69.474 27.378 -9.572 -14.149 253.637

Margen EBITDA 36% 55% 100% 46% 95% -85% 20% 54%

Utilidad Operacional 75.092 42.933 59.739 61.103 27.378 -11.362 -14.149 240.868

Utilidad o Pérdida en la matriz 23.519 31.265 38.244 21.057 20.188 -31.379 -2.672 100.222

Deuda Financiera 943.613 945 563.279 146.446 432.135 364.981 0 2.451.400

Deuda Financiera de CP 35.278 0 2.704 62.382 286.328 134.806 0 521.498

Disponible 560.042 35.767 0 44.775 29.035 19.400 34 689.052

PRINCIPALES DATOS FINANCIEROS Jun2016*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).

***Eliminación de operaciones entre empresas del grupo

42%

16%12%

30%

Operational Income + MPP

31%

17%24%

28%

EBITDA

21%

27%34%

18%

Profit or Loss at the Parent Company CONCESIONESVIALES CONSTRUCCION

CONCESIONES DEAEROPUERTOS ENERGIA



Road Concessions

15


In the first semester, Autopistas del Café contributes greatly to the improvement in EBITDA having increased by21%, also ADN and BTA registered an EBITDA of Cop$28,000 millions which began consolidating sin may 2016. Thelower net income is attributable to revisions of taxes registered in 2015.

56

.45

3

94

3.6

13

2015 2016

Financial Debt

28

.22

6

23

.51

9

2015 2016

Net Profit

53

.19

0

77

.24

0

2015 2016

EBITDA

13

2.7

78

21

4.5

39

2015 2016

Operational Income +

MPP

+62% +45% -17% >+200%


Construction

16


In the first half of 2016, the success of this segment are the revenues generated by the liquidation of works by theGrupo Constructor Autopistas del Café, related to the amendment No. 3. This improved the consortium´s EBITDA inCop $14,000 millions compared to the same period in 2015.

The new concession projects Llanos and Green Corridor contributed Cop $3.800 and $ 9.800 million respectively,however in the first half of 2015 these projects did not report any activity.

22

.75

6

43

.39

2

2015 2016

EBITDA

29

.70

4

78

.67

7

2015 2016

Operational Income +

MPP

+165%

15

.05

1 31

.26

5

2015 2016

Net Profit

20

.74

1

35

.76

7

2015 2016

Cash

+72%+91%

+108%


Airport Concessions

17


Quiport acquisition in late 2015, allows the inclusion of income in the first half of 2016 under the equity method forCop $47,462 million. This includes 50% of profits from the airport and a "Management Fee" of 5% associated withthe concession. Similarly Opain´s income grew in the first half of 2015 and reach $ 12,463 million.

Quiport acquisition also resulted in an increase in debt for Odinsa.

0

56

3.2

79

2015 2016

Financial Debt

>-200%

-1.9

18 3

8.2

44

2015 2016

Net Profit

-1.9

18 5

9.7

39

2015 2016

EBITDA

-1.9

16 5

9.9

24

2015 2016

Operational Income + MPP

>-200% >-200% >-200%

2.983

2.009

260

714

Activo Pasivo, interes minoritario &patrimonio

Balance Sheet December 2015

Consolidated Balance Sheet

18


Between December 2015 and June 2016, Odinsa liabilities increased by $ 1.2 billion, as a result of the debtconsolidation in Autopistas del Nordeste and Boulevard Turistico del Atlantico, increasing the its participation from42.5% to 67.5%. Additionally, disbursements were made to Caribbean Infrastructure Company (Aruba) for the workson the construction of the road, and to GenPac, to complete the photovoltaic project in Copiapo.

4,325

3,230

261

834

Activo Pasivo, interes minoritario &patrimonio

Balance Sheet June 2016

19

Indebtedness Ratios


Indicadores de EndeudamientoDeuda /

EBITDA

Deuda Neta/

EBITDA

Deuda Actual / EBITDA 12 meses 6,65x 4,78x

Proforma 1 - Incluyendo EBITDA Quiport 12 meses 5,94x 4,27x

Proforma 2 - Incluyendo EBITDA Quiport, ADN y BTA 12 meses 4,61x 3,32x

Odinsa S.A. - Consolidado - Cop$Millones

Deuda Total 2.451.400$

Disponible Total 689.052$

EBITDA últimos 12 meses 368.509$

Ajuste de 6 meses en EBITDA de Quiport 44.142$

Ajuste de 10 meses en EBITDA de ADN+BTA 118.630$

Thank YouAugust 22 2016

Confase

Mariscal Sucre Airport Results Presentation 2Q2016€¦ · Highlights 1.1 Road Concessions 1.2 Airport Concessions 1.3 Transparency Line 2. ... Cop $47,462 million. This includes

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