Construcciones El Condor Posts COP$227 Billion Net Loss for 3Q 2025
Medellin-based highway construction giant Construcciones El Condor on November 7 posted a third quarter (3Q) 2025 net loss of COP$227 billion (US$60 million) – thus adding to a growing string of quarterly net losses.
The latest negative results reflect impacts from the “Ruta al Sur” highway project as well as losses “derived from the sale of the stake in the Pacífico 3 Concession,” according to the company.
“Revenue from ordinary activities totaled COP $685 billion [US$181 million], representing a 24% decrease compared to the third quarter of 2024, equivalent to a decline of COP$220 billion [US$58 million].”
The revenue declines were “mainly due to the completion of the Magdalena 2 project, whose final functional unit was delivered by the company in July 2025, [as well as] the completion of all revenue-generating works for the Antioquia Bolivar project (RAM Concession), and the income generated by the concessions business,” according to the company.
Earnings before interest, taxes, depreciation and amortization (EBITDA) for 3Q 2025 resulted in a net-negative of COP$7.15 billion (US$1.9 million), with a negative EBITDA margin of 1.0%, according to the company.
At the close of 3Q 2025, El Condor reported total assets of COP$1.5 trillion (US$396 million), of which 37% are current and 67% are non-current. Total liabilities amounted to COP$1.14 trillion (US$301 million).
As of September 30, 2025 the balance of contracted and pending construction work stood at COP$957 billion (US$253 million), the company added.
