• The Grupo Argos concession company inaugurated its Odinsa Aeropuertos platform, boasting assets nearing 1.4 trillion Colombian pesos, in partnership with Macquarie Asset Management—the world’s foremost infrastructure fund manager.
• Its sister platform, Odinsa Vías, also established in collaboration with Macquarie, marked one and a half years of operations, enhancing the performance of its existing assets and projects under development.
• Key achievements in 2023 include its recognition in the Standard & Poor’s Sustainability Yearbook based on its Dow Jones outcomes, elevated credit ratings, advancement in project development, and the execution of sustainability initiatives across all concessions.
• Over 45 million passengers navigated through the El Dorado and Mariscal Sucre airports, while 38 million vehicles traversed the highway concessions throughout the year.

Medellín, March 19, 2024. In 2023,  Odinsa, a Grupo Argos concession entity, persistently contributed to the advancement of road and airport infrastructure across Colombia and Latin America, fostering value creation opportunities in collaboration with all stakeholders. This progress was showcased during its General Meeting of Shareholders today, illustrating a constructive overview of its 2023 operations in infrastructure, finance, environmental stewardship, social impact, and customer experience.

A notable highlight was the launch of its airport infrastructure investment platform: Odinsa Aeropuertos: In alliance with Macquarie Asset Management, the preeminent global infrastructure asset manager. This initiative complements the Odinsa Vías platform, another venture with this elite partner, celebrating eighteen months of operational success and positive outcomes.

“2023 was an exceptionally favorable year for the company, with our dual investment platforms in road and airport infrastructure establishing us as key investors and asset managers, poised for significant expansion across the Americas. We remain committed to enhancing infrastructure through sustainable practices that deliver societal value,” commented Mauricio Ossa, Odinsa’s president.

During this period, Odinsa and Macquarie amplified the management of their road projects—Autopistas del Café, Malla Vial del Meta, Conexión Pacífico 2, and Túnel Aburrá Oriente—witnessing over 38 million vehicular passages; as well as the Mariscal Sucre and El Dorado airports, accommodating over 45 million passengers and now recognized as the premier airports in South America by Skytrax.

Regarding infrastructure, the Company showcased the progress of its Malla Vial del Meta project, which concluded the year with a 10.7 % advancement, adhering to the predetermined timeline. Key initiatives prioritized include the construction of a new bridge over the Yucao River and the second lane between Villavicencio and Acacías, anticipated for completion in 2024. Furthermore, the company is positively advancing the second phase of the Túnel de Oriente project, in partnership with the Antioquia Government. This phase will commence in 2024 with the construction of the interchange at the Glorieta Aeropuerto José María Córdoba roundabout, a crucial development for mobility.

Odinsa has also made significant strides in its five private initiative (PI) projects in Colombia, currently in the feasibility phase. These projects underscore its commitment to enhancing connectivity: El Dorado Max (expansion of El Dorado airport’s infrastructure), PI Campo de Vuelo (El Dorado runways); PI Nuevo Aeropuerto de Cartagena; PI Conexión Centro, in the coffee axis, and Perimetral de la Sabana, in Cundinamarca.

Moreover, the Grupo Argos concession company has bolstered market and financial sector confidence through actions such as capital structure optimization. This includes the full repayment of the bonds issued in 2020 for COP 280 billion and a 57 % reduction in its consolidated financial debt. These efforts are reflected in the reconfirmation of its national long-term and short-term ratings at ‘AA(col)’ and ‘F1+(col),’ respectively, with a stable long-term outlook by Fitch Ratings.

All these efforts are part of a responsible approach and a clear trajectory set forth in its sustainability strategy, dubbed Our Shared Journey. This strategy serves as both a foundation and hallmark of Odinsa’s management of its road and airport concessions. In this regard, the company pledges to strive for shared prosperity, a healthy planet, continual improvement, and delivering memorable experiences; these four pillars encapsulate its critical focuses across social, economic, and environmental sectors, setting ambitious targets for 2022, 2025, and 2030.

Highlights of Progress and Key Achievements