Presentación de PowerPoint³… · 10.9 5.6 2019 2020 2019 2020 Ppto 1.35 0,53 1.15 2019 2020 2.58...
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1 Financial Report June 2020 El Dorado Airport
Transcript of Presentación de PowerPoint³… · 10.9 5.6 2019 2020 2019 2020 Ppto 1.35 0,53 1.15 2019 2020 2.58...
1
Financial Report
June 2020
El Dorado Airport
2
Odinsa’s ConsolidatedResults
El Dorado Airport
Consolidate results – Junio 2020
Relevant numbers – Consolidated Income Statements
COPmilions
Real Real Variation
jun-19 jun-20 2020 vs 2019
Income 399.149 342.722 -14%
Costs 56.659 94.468 67%
Gross Profit 342.490 248.254 -28%
SG&A 96.256 86.810 -10%
Other income/expenses 1.790 - 739 -141%
Operating Profit 248.024 160.705 -35%
EBITDA 274.618 204.081 -26%
Net Income before taxes 125.767 48.605 -61%
Taxes 49.044 53.506 9%
Net Income 76.723 - 4.901 -106%
Non controlling profit/loss 22.059 26.375 20%
Profit/Loss for the parent company 54.663 - 31.276 -157%
Revenues decrease by ~ ∆- 56,4k M, mainly due to:
✓ ∆+ 76,1k M Highway Concessions
✓ ∆- 112,6k M Airport Concessions
✓ ∆- 15,5k M Construction
✓ ∆- 2,8k M Others
✓ ∆- 1,4k M Accounting Eliminations
EBITDA decrease by ~ ∆- 70,6k M, mainly due to:
✓ ∆+ 64,1k M Highway Concessions
✓ ∆- 112,4k M Airport Concessions
✓ ∆- 18,4k M Construction
✓ ∆- 5,1k M Others
✓ ∆+ 1,2k M Accounting Eliminations
2
1
Net Income decrease by ~ ∆- 85,8k M, mainly due to:
✓ ∆+ 7,1k M Highway Concessions
✓ ∆- 112,4k M Airport Concessions
✓ ∆- 23,7k M Construction
✓ ∆+ 34,7k M Others
✓ ∆+ 8,2k M Accounting Eliminations
3
1
2
3
Summary
El Dorado Airport
30.13844.876 40.458
2019 2020 Ppto
91.451 93.024
131.971
2019 2020 Ppto
29.76
2019 2020 Ppto
20.68 20.01
2019 2020 Ppto
Summary
2019 20202019 20202019 2020
AKF ADN BTA
TPD
accumulated data
Revenues
EBITDA
EBITDA MARGIN
COP millions
2% 3%
33% 48% 31%
75.069
46.080
49%
33,1 13,45,5
USD millions USD millions
*TPD: thousand vehicles
25.92
2019 2020 Ppto
15.71 16.56
2019 2020 Ppto
63%
87% 87% 76% 83%
*Includes consortium
10,6
21%
25,0
24%
29.15
2%
25.33
2%
4,2
24%
5%
Summary
2019 20202019 20202019 2020
MVM P2 Túnel de Oriente
EBITDA
EBITDA MARGIN
28%
18,37,0
20,9
COP millions COP millions COP millions
2019 2020 Ppto
17.95320.141
33.124
2019 2020 Ppto
41.777
88.535
2019 2020 Ppto
12%
2019 2020 Ppto
-1.141
20.167
2019 2020 Ppto
2020
2019 Ppto
31% 51% 48%
-6% -5%
14,0
24%
58.334
3.585
463%
6%
*As of 2020
*As of 2020
2020
-2.631
129%
-13%
5.0
78.613101.711
29%
254.067197.616
22%
15.3
26%
28%
TPD
accumulated data*TPD: thousand vehicles
Revenues
10.9
5.6
2019 2020
2019 2020 Ppto
1.35 0,53
1.15
2019 2020
2.58
3.31
2.93
2019 2020 Ppto
179.194
2019 2020 Ppto
59.39 61.55
2019 2020 Ppto
3.98
4.79
2019 2020 Ppto
85.03
2019 2020 Ppto
Summary
Green Corridor OPAIN QUIPORT
Passengers
EBITDA
EBITDA MARGIN
20%
USD millions COP millions USD millions
*Million passangers
44%
28% 48%65% 69% 32% 31% 70% 65%
86.16
37.315
54% 58%
16.5 2,50
1,03
*Coverage revenues not included
*Coverage revenues not included
7.5
5.1
2.4
0.55
0.50
47.37
30.56
548.837
279.28149%
79%
13%
International passengers
Domestic passengers
Revenues
Revenues, EBITDA and Net Profit
Segments’s Contribution
El Dorado Airport
*Comparison Y/Y
Revenues – Segments’s Contribution
COP millions
20
19
Vs.
20
20
Highway Concessions revenues increase by ~ ∆+ 76,1k M, mainly due to:
✓ ∆+ 43,5k M Túnel de Oriente.
✓ ∆+ 19,3k M ADN.
✓ ∆+ 14,3k M BTA.
✓ ∆+ 4,6k M CIC
✓ ∆+ 2,9k M MVM
✓ ∆+ 1,5k M AKF
✓ ∆- 9,7k M Pacífico II.
1 Construction revenues by decrease ~ ∆- 15,5k M, mainly due to:
✓ ∆+ 18,6k M GCAKF
✓ ∆- 0,5k M JV ADN
✓ ∆- 1,3k M Confase
✓ ∆- 1,4k M Chamba Blou
✓ ∆- 9,8k M CND y CMO
✓ ∆- 20,8k M Consorcio Farallones
3
2 Airport Concessions revenues decrease ~ ∆- 112,6k M, mainly due to:
✓ ∆- 49,9k M Opain
✓ ∆- 61,4k M Quiport
4 Other revenues decrease ~ ∆- 2,8k M, mainly due to:
✓ ∆- 0,1k M Odinsa Servicios
✓ ∆- 2,5k M Odinsa PI
1
2 3 4
*Includes subordinated debt interest
2019 Highway Concessions Airport Concessión Construction Others Accounting eliminations 2020
EBITDA – Segments’s Contribution
Highway Concessions EBITDA increase by ~ ∆+ 64,1k M, mainly due to:
✓ ∆+ 21,9k M Túnel de Oriente
✓ ∆+ 17,4k M ADN
✓ ∆+ 17,4k M BTA
✓ ∆+ 14,7k M AKF
✓ ∆+ 3,6k M CIC
✓ ∆- 1,4k M MVM
✓ ∆- 9,7k M Pacífico II
1 Construction EBITDA decrease by ~ ∆- 18,4k M, mainly due to:
✓ ∆+ 14,2k M GCAKF
✓ ∆+ 2,0k M Confase
✓ ∆- 1,3k M Chamba Blou
✓ ∆- 2,7k M JV ADN y JV BTA
✓ ∆- 9,8k M CND y CMO
✓ ∆- 20,8k M Consorcio Farallones
3
2Airport Concessions EBITDA decrease by ~ ∆- 112,4k M, mainly due to:
✓ ∆- 49,9k M Opain
✓ ∆- 61,4k M Quiport
4Other EBITDA decrease by ~ ∆- 5,1k M, mainly due to:
✓ ∆- 1,3k M Odinsa Holding
✓ ∆- 0,4k M Odinsa SA
✓ ∆- 0,1k M Odinsa Servicios
✓ ∆- 2,5k M Odinsa PI
1
23 42
01
9 V
s.
20
20
*Includes subordinated debt interest
2019 Highway Concessions Airport Concessión Construction Others Accounting eliminations 2020
COP millions
Net Profit – Segments’s Contribution
1
2
34
Highway Concessions net profit increase by ~ ∆+ 7,1k M, mainly due to:
✓ ∆+ 8,4k M AKF
✓ ∆+ 8,2k M ADN
✓ ∆+ 1,4k M BTA
✓ ∆+ 0,3k M CIC
✓ ∆- 0,7k M MVM
✓ ∆- 0,9k M Túnel de Oriente
✓ ∆- 9,7k M Pacífico II
1 Construction net profit decrease by ~ ∆- 23,7k M, mainly due to:
✓ ∆+ 8,5k M GCAKF
✓ ∆+ 1,3k M Confase
✓ ∆- 1,3k M Chamba Blou
✓ ∆- 1,5k M JV ADN y JV BTA
✓ ∆- 9,8k M CND y CMO
✓ ∆- 20,8k M Consorcio Farallones
3
2Airport Concessions net profit decrease by ~ ∆- 112,4k M, mainly due to:
✓ ∆- 49,9k M Opain
✓ ∆- 61,4k M Quiport
4Construction net profit increase by ~ ∆+ 34,7k M, mainly due to:
✓ ∆+ 25,9k M Marjoram
✓ ∆+ 13,5k M Odinsa SA
✓ ∆- 0,1k M Odinsa Servicios
✓ ∆- 1,5k M Odinsa PI
✓ ∆- 2,4k M Odinsa Holding
20
19
Vs.
20
20
*Includes subordinated debt interest
2019 Highway Concessions Airport Concessión Construction Others Accounting eliminations 2020
COP millions
Concessions Results
El Dorado Airport
Airport Concessions
El Dorado Airport
10,86
5,14
5,63
2,37
2019 2020
1,35
0,55
1,15
0,50
2019 2020
Airport Concession’s Traffic
OPAIN QUIPORT
Million passengers – accumulated data, June
16,5
Domestic PassangersInternacional Passangers
2,50
53%
58%
54%
7,5
59%
56%
58%
1,05
548.837
2019 2020 Ppto
OPAIN
REVENUES
COP millions
EBITDA
COP millions
NET PROFIT
COP millions
Total Revenues variation Y/Y by -49%, mainly due to:
• Lower regulated revenues by ~ ∆- COP 190,7k M
• Lower non regulated revenues by ~ ∆- COP 74,5k M
• Lower construction revenues by ~ ∆- COP 7,8k M
• Lower Aerocivil retributions by ~ ∆- COP 3,5k M
EBITDA decrease by -79%, mainly due to:
• ∆- COP 269,5 M, total revenues
• Decrease in cost and operational expenses by ~ ∆- COP
127,6k M, mainly due to :
✓ Government payments: COP - 117,4k M
✓ Construction: COP - 7,8k M
✓ Maintenance: COP – 5,6k M
✓ SG&A: COP - 2,4k M
✓ Others: COP +10.1k M
Net profit decrease by -458%, mainly due to:
• ∆- COP 141,8 M, EBITDA
• Increase in D&A by ~ ∆+ COP 6,0k M
• Increse in financial expenses, net by ~ ∆+ COP 14.3k M
• Increase in foreign Exchange balance variation ~ ∆+ COP
23,6k M
• Decrease in current tax by ~ ∆- COP 43,2k M
7% 189% 166%
279.281
83,168
*Coverage revenues not included
0%
179.194
2019 2020 Ppto
31.120
-111.614
20.947
2019 2020 Ppto
49%
37.315
79%
458%
2020
*Coverage revenues not included
85,03
47,37
86,16
2019 2020 Ppto
59,40
30,56
61,55
2019 2020 Ppto
26,46
-12,13
17,8
2019 2020 Ppto
Quiport
REVENUES
USD millions
EBITDA
USD millions
NET PROFIT
USD millions
Total revenues variation Y/Y by -44%, mainly due to:
• Lower regulated revenue by ~ ∆- USD 27,3 M
• Lower non regulated revenue by ~ ∆- USD 10,4 M
EBITDA decrease by -48%, mainly due to:
• ∆- USD 37,6 M, total revenues
• Decrease in costs and expenses by ~ ∆- USD 8,8 M, mainly
due to personnel and O&M
Net profit decrease by -146%, mainly due to:
• Decrease in EBITDA by ~ ∆- USD 28,8 M
• Increase in financial expense, net by ~ ∆+ USD 9,5 M
44% 48% 146% 2020
Highway Concessions
El Dorado Airport
1,270
0,918
2019 2020
3,324
2,552
2019 2020
3,785
2,801
2019 2020
6,004,56
2019 2020
2,441,93
2019 2020
1,000,77
2019 2020
Highway Concession’s traffic
Million vehicles– accumulated data, June
AKF ADN BTA
Pacífico II MVM
28%
21%
23%
24%
CTAO
23%
26%
30.138
44.87640.458
2019 2020 Ppto
17.112
31.273
25.854
2019 2020 Ppto
91.451 93.024
131.971
2019 2020 Ppto
AKF + Consortium GCAKF (aggregate)
REVENUES
COP millions
EBITDA
COP millions
NET PROFIT
COP millions
Total revenues variation Y/Y by +2%, mainly due to:
• Lower toll collection revenues by ~ ∆- COP 1,9K M
• Higher construction revenues by ~ ∆+ COP 3,6K M
EBITDA increase by +49% mainly due to:
• ∆+ COP 1,5k M, total revenues
• Lower cost and operational expenses by ~ ∆- COP 11,9k
M,
• Other expense, net increase by ~ ∆+ COP 1,2k M
Net profit increase by +83% mainly due to:
• Increase in EBITDA by ~ ∆+ COP 14,7k M
• Decrease in financial expense, net by ~ ∆- COP 2,2k M
• Increase in total taxes by ~ ∆+ COP 2,7k M (-18,6k M current
y +21,3k M deferred)
2% 49% 83%
206.726
18%
63%
87%
135.407
115.137
86.522
75.069
46.080
71.615
61.217
32.800
*Interpretation includes only concession
ADN
REVENUES
USD millIons
EBITDA
USD millions
NET PROFIT
USD millions
Total revenues variation Y/Y by +2%, mainly due to:
• Higher operational revenues by ~ ∆+ USD 0,2 M
• Higher financial revenues by ~ ∆+ USD 0,4 M
EBITDA increase by +2%, mainly due to:
• ∆- USD 0,6 M, total revenues
• Lower costs and operational expenses by ~ ∆- USD 0,4 M
• Lower other revenues, net by ~ ∆- USD 0,4 M
Net profit increase by +8%, mainly due to:
• ∆+ USD 0,6 M, EBITDA
• Lower financial expenses, net by ~ ∆- USD 0,5 M
• Increase in total taxes by ~ ∆+ USD 0,5 M (-0,4 M current y
+0,9 M deferred)
2019 2020 Ppto 2019 2020 Ppto 2019 2020 Ppto
29.15 29.76 29.78
2%
25.33 25.9224.07
2%
10.59 11.459.99
8%
*Subordinated debt interest revenues variation in the holding aprox Y/Y ∆+ COP 2,6K M
BTA
REVENUES
USD millions
EBITDA
USD millions
NET PROFIT
USD millions
Total revenues variation Y/Y of -3,0%, mainly due to:
• Lower operational revenues by ~ ∆- USD 0,13 M
• Lower financial revenues by ~ ∆- USD 0,54 M
EBITDA decrease by 5%, mainly due to:
• ∆- USD 0,67 M, total revenues
• Lower costs and operational expenses by ~ ∆- USD 1,56
M.
Net profit decrease by -45%, mainly due to:
• ∆+ USD 0,85 M, EBITDA
• Increase in financial expenses, net by ~ ∆+ USD 1,54 M
• Increase in taxes by ~ ∆+ USD 2,17 M (defered)
2019 2020 Ppto 2019 2020 Ppto 2019 2020 Ppto
3%
20.68 20.0119.98
15.71 16.56
14.19
5%
6.68
3.70
2.54
45%
* Subordinated debt interest revenues variation in the holding aprox Y/Y ∆+ COP 6,5K M
254.067
197.616
316.597
2019 2020 Ppto
78.613
101.711
110.672
2019 2020 Ppto
27.843
9.721
52.691
2019 2020 Ppto
Pacífico II
REVENUES
COP millions
EBITDA
COP millions
NET PROFIT
COP millions
Total revenues variation Y/Y by -22%, mainly due to:
• Higher toll collection revenues by ~ ∆+ COP 4,2k M
• Lower construction revenues by ~ ∆- COP 60k M
EBITDA increase by +29%, mainly due to:
• ∆- COP 56,4k M, total revenues
• Lower construction costs by ~ ∆- COP 79,3k M
Net profit decrese by -65%, mainly due to:
• ∆+ COP 23,0k M, EBITDA
• Increase in financial expense, net by ~ ∆+ COP 21,6k M
• Decrease in Foreign Exchange Balance Variation by ~ ∆- COP
2,1k M
• Increase in taxes by ~ ∆+ COP 21,6k M (deferred)
22%29%
65%
* Subordinated debt interest revenues variation in the holding aprox Y/Y ∆+ COP 4,5K M
17.95320.141
33.124
2019 2020 Ppto
-1.147
-2.631
-1.641
-1.580
-3.200
-2.249
Malla Vial del Meta
REVENUES
COP millions
EBITDA
COP millions
NET PROFIT
COP millions
Total revenues variation Y/Y by +12%, mainly due to:
• Lower toll collection revenues by ~ ∆- COP 3,4k M
• Increase in construction revenues by ~ ∆+ COP 5,6k
M
EBITDA decrease by -129%, mainly due to:
• ∆+ COP 2,1k M, total revenues
• Increase in cost and administrative expenses by ~ ∆+ COP
4,8k M
• Lower other expenses, net by ~ ∆- COP 1,0k M
Net profit decrease by -103%, mainly due to:
• ∆- COP 1,4k M, EBITDA
20202019 Ppto
20202019 Ppto
12%
129%
103%
* Subordinated debt interest revenues variation in the holding aprox Y/Y ∆- COP 0,1K M
Túnel de Aburrá Oriente
REVENUES
COP millions
EBITDA
COP millions
NET PROFIT
COP millions
Total revenues variation Y/Y by -28%, mainly due to:
• Increase in toll collection revenues by ~ ∆+ COP 25.9k M
• Decrease in construction revenues by ~ ∆- COP 48.2k M
• Decrease in commercial revenues by ~ ∆+ COP 5.8k M
EBITDA increase by COP +16.6k M, mainly due to:
• ∆- COP 16.6k M, total revenues
• Lower cost and operational expenses by ~ ∆+ COP 32,4k M
• Increase in other revenues, net by ~ ∆+ COP 1,0k M
Net profit decrease by COP -8.2k M, mainly due to:
• ∆+ COP 16.6k M, EBITDA
• Increase in D&A by ~ ∆+ COP 5.6k M
• Increase in financial expenses, net by ~ ∆+ COP 18.0k M
• Increase in total taxes by ~ ∆+ COP 1.2k M
2019 2020 Ppto 2019 2020 Ppto
2019 2020 Ppto
58.334
3.585
1.206
463% 684%
41.77728%
* Subordinated debt interest revenues variation in the holding aprox Y/Y ∆+ COP 1,8K M
2020
3,98
4,794,65
2019 2020 Ppto
2,58
3,31
2,93
2019 2020 Ppto
0,780,85
0,70
2019 2020 Ppto
Green Corridor
REVENUES
USD millions
EBITDA
USD millions
NET PROFIT
USD millions
Total revenues variation Y/Y by +20%, mainly due to:
• Increase in operational revenues by ~ ∆+ USD 2,41 M
• Lower financial revenues by ~ ∆- USD 1,61 M
EBITDA increase by +28%, mainly due to:
• Increase in revenues by ~ ∆+ USD 0,8 M
• Lower cost and expenses by ~ ∆- USD 0,20 M
• Increase in other expenses, net by ~ ∆+ USD 0,3 M
Net profit increase by +9%, mainly due to:
• Increase in EBITDA by ~ ∆+ USD 0,73 M
• Lower financial expense, net by ~ ∆- USD 0,05 M
• Increase in total taxes by ~ ∆+ USD 0,71 M (+0,24 M current y
+0,47 deferred)
28%20%
9%
* Subordinated debt interest revenues variation in the holding aprox Y/Y ∆- COP 0,3K M
