Conconcreto 1Q 2025 Profits Soar 636% Year-on-Year
Medellin-based construction giant Conconcreto on May 15 reported a 636% year-on-year hike in first quarter (1Q) 2025 net income, hitting COP$20 billion (US$4.77 million) versus COP$571 million (US$13,600) in 1Q 2024.
Conconcreto credited the huge jump in profits “primarily due to the reduction in financial costs.”
While profits jumped, revenues actually declined 35% year-on-year, to COP$146 billion (US$35 million), “mainly due to lower construction work at Conconcreto USA in our investment business and a lower volume of work on IDU projects [Instituto de Desarrollo Urbano (IDU) projects in Bogotá],” according to the company.
Similarly, 1Q 2025 earnings before interest, taxes, depreciation and amortization (EBITDA) fell 70% year-on-year, to COP$38 billion (US$9.07 million), versus COP$127.7 billion (US$30.5 million) in 1Q 2024.
Operating profit for 1Q 2025 hit COP$19 billion (US$4.5 million), with operating margin at 23.9% — 227 basis points higher than in 1Q 2024.
As for construction backlog, Conconcreto noted a 1Q 2025 year-on-year decline, “ taking into account the sale of real estate assets at Conconcreto USA.”
Nevertheless, the company reported a 1Q 2025 construction and infrastructure backlog of COP$2.6 trillion [US$621 million], “equivalent to 2.6 years of execution at a rate of COP$1 trillion [US$239 million] per year,” according to the company.
