Constructora Conconcreto 2Q 2019 Earnings Jump 70%
Medellin-based construction giant Constructora Conconcreto announced August 9 that its second quarter (2Q) 2019 earnings jumped 70% year-on-year, to COP$57 billion (US$16.8 million).
Earnings before interest, taxes, depreciation and amortization came-in at COP$105 billion (US$31 million), essentially flat year-on-year, while EBITDA margin was 25%.
Consolidated revenues hit COP$417 billion (US$123 million), down 9.5% year-on-year.
“The business segment that contributed most to the ordinary income was construction, at COP$312 billion (US$92 million),” according to Conconcreto.
The company also cut its consolidated financial liabilities by COP$120 billion (US$35 million) compared to year-end 2018 debt levels.
Among other 2Q 2019 highlights:
• “The CCC Ituango consortium met the objective of bringing the Hidroituango dam [in Antioquia] to 435 meters above sea level, its maximum height. This is one of the most important milestones for the safety of the communities downstream of the project. The top of the dam will be the road to the municipality of Ituango,” according to the company.
• “On June 12, we proudly received recognition for the ‘Contree’ project [in Medellin] as the best vertical housing project during the celebration of the LADI [Latinoamericanos de Desarrollo Inmobiliario] awards, a Latin American event that seeks to highlight innovation, development, architecture and marketing applied to the real estate industry.”
• Construction of the “Logika Siberia” warehouse portal gateway in Cundinamarca, employing Conconcreto’s novel large-format concrete “3D Printer” to build the portal building.
