Construcciones El Condor Posts Net Loss for 1Q 2026

Medellin-based highway construction giant Construcciones El Condor on May 14 posted a first quarter (1Q) 2026 net loss of COP$15 billion (US$4 million) — an improvement over the COP$35.5 billion (US$9.7 million) net loss in 1Q 2025.

“This result is influenced by accounting adjustments with no cash impact, related to the equity method of accounting for joint ventures,” according to El Condor.

Revenue from ordinary activities also fell 39% year-on-year, to COP$169 billion (US$46 million), according to the company.

Despite the continuing losses, “the company substantially improved its operational efficiency during the latest quarter: Operating income was COP$22.4 billion [US$6 million], compared to COP$9.59 billion [US$2.6 million] in 1Q 2025.

“This improved result in 2026 is primarily due to the better performance of the projects, especially regarding the optimization of operating costs. Consequently, the operating margin for the first quarter of 2026 was 14%, while in the same period of 2025 it was 4%,” according to El Condor.

However, operating income for 1Q 2026 worsened by 40% year-on-year, to COP$160.5 billion (US$ million) versus COP $270.6 billion (US$75.6 million) in 1Q 2025.

This decline “is solely attributable to the natural completion of the Magdalena- 2 and Antioquia-Bolívar projects, according to the planned contractual life cycle,” according to El Condor.

On the other hand, Colombia’s highway infrastructure sector “showed a gradual recovery, driven by the continuation of strategic projects. Construcciones El Cóndor maintains a significant position in this segment, with projects such as the Toyo Tunnel [in Antioquia], the Mocoa Bypass, and the Southern Route leading the way for completion by 2026,” the company added.