Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Col$506, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 13x in the Construction industry in South America. Total returns to shareholders of 166% over the past three years. Reported Earnings • Mar 10
Full year 2025 earnings released: EPS: Col$47.00 (vs Col$155 loss in FY 2024) Full year 2025 results: EPS: Col$47.00 (up from Col$155 loss in FY 2024). Revenue: Col$617.5b (down 30% from FY 2024). Net income: Col$53.3b (up Col$229.1b from FY 2024). Profit margin: 8.6% (up from net loss in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 114 percentage points per year, which is a significant difference in performance. Announcement • Mar 05
Constructora Conconcreto S.A., Annual General Meeting, Mar 27, 2026 Constructora Conconcreto S.A., Annual General Meeting, Mar 27, 2026, at 09:00 SA Pacific Standard Time. Location: av 16a south no 34 950, country club great hall, medellin Colombia Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: Col$1.04 (vs Col$3.85 in 3Q 2024) Third quarter 2025 results: EPS: Col$1.04 (down from Col$3.85 in 3Q 2024). Revenue: Col$128.4b (down 49% from 3Q 2024). Net income: Col$1.18b (down 73% from 3Q 2024). Profit margin: 0.9% (down from 1.7% in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: Col$14.40 (vs Col$17.88 in 2Q 2024) Second quarter 2025 results: EPS: Col$14.40 (down from Col$17.88 in 2Q 2024). Revenue: Col$148.2b (down 46% from 2Q 2024). Net income: Col$16.3b (down 19% from 2Q 2024). Profit margin: 11% (up from 7.5% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Reported Earnings • May 19
First quarter 2025 earnings released: EPS: Col$16.27 (vs Col$0.52 in 1Q 2024) First quarter 2025 results: EPS: Col$16.27 (up from Col$0.52 in 1Q 2024). Revenue: Col$146.3b (down 39% from 1Q 2024). Net income: Col$18.5b (up Col$17.9b from 1Q 2024). Profit margin: 13% (up from 0.2% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 21% per year. Board Change • Mar 07
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Angela Maria Gomez was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 03
Full year 2024 earnings released: Col$173 loss per share (vs Col$0.90 profit in FY 2023) Full year 2024 results: Col$173 loss per share (down from Col$0.90 profit in FY 2023). Revenue: Col$482.9b (down 61% from FY 2023). Net loss: Col$195.8b (down Col$196.8b from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Feb 19
Now 21% undervalued Over the last 90 days, the stock has risen 84% to Col$590. The fair value is estimated to be Col$747, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 65%. Buy Or Sell Opportunity • Jan 24
Now 22% undervalued Over the last 90 days, the stock has risen 109% to Col$605. The fair value is estimated to be Col$777, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 65%. Buy Or Sell Opportunity • Jan 08
Now 22% undervalued Over the last 90 days, the stock has risen 138% to Col$636. The fair value is estimated to be Col$814, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 65%. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to Col$520, the stock trades at a trailing P/E ratio of 29.7x. Average trailing P/E is 8x in the Construction industry in South America. Total returns to shareholders of 96% over the past three years. Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to Col$364, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 7x in the Construction industry in South America. Total returns to shareholders of 29% over the past three years. New Risk • Nov 27
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 240% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.2x net interest cover). Earnings have declined by 17% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (Col$353.9b market cap, or US$80.3m). Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: Col$3.85 (vs Col$1.40 in 3Q 2023) Third quarter 2024 results: EPS: Col$3.85 (up from Col$1.40 in 3Q 2023). Revenue: Col$251.9b (down 19% from 3Q 2023). Net income: Col$4.36b (up 176% from 3Q 2023). Profit margin: 1.7% (up from 0.5% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. New Risk • Aug 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Colombian stocks, typically moving 6.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Share price has been highly volatile over the past 3 months (6.5% average weekly change). Earnings have declined by 27% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (Col$331.2b market cap, or US$82.1m). Reported Earnings • Aug 16
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: Col$271.9b (up 1.4% from 2Q 2023). Net income: Col$20.3b (up Col$21.7b from 2Q 2023). Profit margin: 7.5% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jun 12
Now 20% undervalued Over the last 90 days, the stock has risen 7.7% to Col$308. The fair value is estimated to be Col$387, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 17
First quarter 2024 earnings released First quarter 2024 results: Revenue: Col$241.5b (down 27% from 1Q 2023). Net income: Col$594.6m (down 91% from 1Q 2023). Profit margin: 0.2% (down from 1.9% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. New Risk • Mar 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.08% Last year net profit margin: 4.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Share price has been highly volatile over the past 3 months (6.4% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 198% Paying a dividend despite having no free cash flows. Earnings have declined by 38% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.08% net profit margin). Market cap is less than US$100m (Col$330.1b market cap, or US$83.8m). Reported Earnings • Mar 06
Full year 2023 earnings released Full year 2023 results: Revenue: Col$1.22t (down 9.9% from FY 2022). Net income: Col$1.02b (down 98% from FY 2022). Profit margin: 0.1% (down from 4.5% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. New Risk • Feb 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Colombian stocks, typically moving 6.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.9x net interest cover). Share price has been highly volatile over the past 3 months (6.3% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 198% Paying a dividend despite having no free cash flows. Earnings have declined by 42% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (Col$353.9b market cap, or US$89.5m). New Risk • Dec 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Colombian stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.9x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 198% Paying a dividend despite having no free cash flows. Earnings have declined by 42% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (Col$256.3b market cap, or US$64.6m). Reported Earnings • Nov 17
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: Col$309.7b (down 8.5% from 3Q 2022). Net income: Col$1.58b (down 91% from 3Q 2022). Profit margin: 0.5% (down from 5.3% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 17
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: Col$268.2b (down 7.9% from 2Q 2022). Net loss: Col$1.46b (down 106% from profit in 2Q 2022). Revenue is expected to decline by 9.9% p.a. on average during the next 3 years, while revenues in the Global Construction industry are expected to grow by 7.9%. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Board Change • Jul 26
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Ana Karina Alcove was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to Col$235, the stock trades at a trailing P/E ratio of 4.4x. Average forward P/E is 12x in the Construction industry in South America. Total loss to shareholders of 29% over the past three years. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to Col$205, the stock trades at a trailing P/E ratio of 3.8x. Average forward P/E is 12x in the Construction industry in South America. Total loss to shareholders of 44% over the past three years. Reported Earnings • Mar 06
Full year 2022 earnings released Full year 2022 results: Revenue: Col$1.36t (up 80% from FY 2021). Net income: Col$61.0b (up 26% from FY 2021). Profit margin: 4.5% (down from 6.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 9.0% p.a. on average during the next 2 years, while revenues in the Global Construction industry are expected to grow by 8.6%. Upcoming Dividend • Feb 16
Upcoming dividend of Col$4.41 per share at 6.3% yield Eligible shareholders must have bought the stock before 23 February 2023. Payment date: 01 March 2023. Payout ratio is a comfortable 9.8% but the company is not cash flow positive. Trailing yield: 6.3%. Lower than top quartile of Colombian dividend payers (13%). Higher than average of industry peers (3.6%). Upcoming Dividend • Nov 18
Upcoming dividend of Col$4.41 per share Eligible shareholders must have bought the stock before 25 November 2022. Payment date: 01 December 2022. Trailing yield: 5.6%. Lower than top quartile of Colombian dividend payers (12%). Higher than average of industry peers (3.7%). Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: Col$15.89 (vs Col$18.74 in 3Q 2021) Third quarter 2022 results: EPS: Col$15.89 (down from Col$18.74 in 3Q 2021). Revenue: Col$338.5b (up 63% from 3Q 2021). Net income: Col$18.0b (down 15% from 3Q 2021). Profit margin: 5.3% (down from 10% in 3Q 2021). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Global Construction industry. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Price Target Changed • Oct 24
Price target decreased to Col$980 Down from Col$1,150, the current price target is provided by 1 analyst. New target price is 339% above last closing price of Col$223. Stock is down 27% over the past year. The company posted earnings per share of Col$42.57 last year. Reported Earnings • May 14
First quarter 2022 earnings released First quarter 2022 results: Revenue: Col$237.3b (up 71% from 1Q 2021). Net income: Col$22.3b (up 77% from 1Q 2021). Profit margin: 9.4% (up from 9.1% in 1Q 2021). Reported Earnings • Mar 03
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: Col$754.2b (up 31% from FY 2020). Net income: Col$48.3b (up 109% from FY 2020). Profit margin: 6.4% (up from 4.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 12%. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Feb 20
Constructora Conconcreto S.A. to Report Q4, 2021 Results on Feb 28, 2022 Constructora Conconcreto S.A. announced that they will report Q4, 2021 results on Feb 28, 2022 Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improved over the past week After last week's 19% share price gain to Col$360, the stock trades at a trailing P/E ratio of 4.6x. Average trailing P/E is 7x in the Construction industry in South America. Total loss to shareholders of 1.4% over the past three years. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment deteriorated over the past week After last week's 15% share price decline to Col$220, the stock trades at a trailing P/E ratio of 2.8x. Average trailing P/E is 7x in the Construction industry in South America. Total loss to shareholders of 29% over the past three years. Reported Earnings • Nov 12
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: Col$207.3b (up 89% from 3Q 2020). Net income: Col$21.3b (up Col$47.8b from 3Q 2020). Profit margin: 10% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorated over the past week After last week's 26% share price decline to Col$275, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 8x in the Construction industry in South America. Total loss to shareholders of 17% over the past three years. Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS Col$24.97 (vs Col$1.91 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: Col$175.9b (up 86% from 2Q 2020). Net income: Col$28.3b (up Col$26.2b from 2Q 2020). Profit margin: 16% (up from 2.3% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Announcement • Feb 23
Constructora Conconcreto S.A. to Report Q4, 2020 Results on Feb 26, 2021 Constructora Conconcreto S.A. announced that they will report Q4, 2020 results on Feb 26, 2021 Is New 90 Day High Low • Jan 14
New 90-day high: Col$500 The company is up 50% from its price of Col$333 on 15 October 2020. The Colombian market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 6.0% over the same period. Is New 90 Day High Low • Dec 24
New 90-day high: Col$385 The company is up 16% from its price of Col$331 on 24 September 2020. The Colombian market is also up 16% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Construction industry, which is up 4.0% over the same period. Is New 90 Day High Low • Nov 28
New 90-day high: Col$377 The company is up 1.0% from its price of Col$373 on 28 August 2020. The Colombian market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 4.0% over the same period. Announcement • Nov 01
Constructora Conconcreto S.A. to Report Q3, 2020 Results on Nov 06, 2020 Constructora Conconcreto S.A. announced that they will report Q3, 2020 results on Nov 06, 2020 Is New 90 Day High Low • Oct 27
New 90-day low: Col$302 The company is down 23% from its price of Col$390 on 29 July 2020. The Colombian market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 9.0% over the same period. Announcement • Aug 10
Constructora Conconcreto S.A. to Report Q2, 2020 Results on Aug 05, 2020 Constructora Conconcreto S.A. announced that they will report Q2, 2020 results on Aug 05, 2020