Construcciones El Condor Dramatically Cuts Net Losses Year-on-Year
Medellin-based highway construction giant Construcciones El Condor announced August 12 a 98% year-on-year improvement in second quarter (2Q 2026) results, posting a net loss of just COP$3.3 billion (US$1.05 million) this year, versus a whopping COP$209.8 billion (US$67 million) loss in 2Q 2025.
“On the operational front, the company achieved a substantial transformation in its efficiency during the second quarter,” according to El Condor.
“While accumulated [2Q 2026] revenues decreased 34.5% compared to the same period in 2025 — a natural result of project completions — the company completely reversed its gross and operating losses thanks to a 55.3% reduction in operating costs, primarily due to the recognition of the onerous ‘RAS’ contract in 2025.
“The gross margin improved by 36.6 percentage points and the operating margin advanced 35.4 points, reaching 17.9%, a result that reflects the direct impact of the team’s operational discipline.
“This, coupled with a lower financial burden and a strong recovery in associates’ earnings, allowed the company to move from a pre-tax loss of COP$259 billion [US$82 million] in 2025 to a [pre-tax] profit of COP$16 billion [US$5.1 million] in 2026—a turnaround of more than COP$275 billion [US$87 million] in the results trend.
“A deferred tax provision partially absorbed this result, so the first half of the year closed with a net loss of COP$3.3 billion [US$1.05 million], a figure practically at the break-even point and substantially lower than the loss of COP$209.8 billion (US$67 million) recorded for the same period in 2025,” the company added.
El Condor also cited a recent arbitration award ruling (pending appeal) in the “RAM vs. ANI” case, “which recognizes COP$3.5 trillion (US$1.1 billion) in favor of that highway concession,” of which El Condor is a 50% shareholder.
