Corferias S.A

With a tradition of 60 years, has established itself as the main professional andinternational operator of fairs and events in Colombia, the Andean Community,Central America and the Caribbean, by virtue of the infrastructure modernizationstrategy and technological foundations, the innovation and internationalizationdynamic and the social and environmental projection of its management.

Strengths

• The world-class infrastructure, which has the largest exhibition area in thecountry, and its services platform fully satisfy clients' needs.

• They hold innovative fairs to generate business contacts and networking throughthe proper management of announcements and promotion of exhibitors andbuyers.

Sustainability/Corporate Social Responsability Policy

Corferias has a corporate Social and Environmental Responsibility policy focused onthe relationship with the neighboring community. The objective is to introducesustainability principles on the company´s activities and to reduce the impact on thesurrounding areas.

Events organization and Service provision

We have an integrated service offering for the development of exhibitions, eventsand conventions, from its design to its implementation. We propose and executeinnovative ideas consistent with client needs. Our basic and value added serviceplatforms offer excellent state-of-the art solutions for all types of events, ensuring aunique and innovative experience.

Progress

• Agora Bogota established the beginning of its operations for the third quarter of 2017, that was traduced in an importanteffort made by all the members related to this Project (Cámara de Comercio, Corferias y Gobierno Nacional) to accomplishthe Schedule of all the events planned.

• Corferias Hilton hotel started the main phase of its construction. This project accomplished all the execution goals madeby the government. The results where over the 61% of the total execution.

• In the active border during the first semester of the year the surface foundation was completed. For the second semester,the details and public space construction phase started.

Infrastructure

Progress

• Corferias has a Quality Management System certified under the requirements of ISO 9001 version 2008. Inaddition, the Quality department did the trainings related to the updates of the ISO 9001 version 2015.

• In 2017, the Corporation received the first follow-up audit by the Bureau Veritas certifying body, and no non-conformities or observations were identified.

• The Corporation has maintained the strategy of validating and certifying its different statistics through thefiscal review firm KPMG Ltda, with the purpose of having accurate, transparent and reliable information aboutthe different indicators of the trade fair activity

Quality and internal control system

Financial Information

(*) Values under IFRS

0

5.000

10.000

15.000

20.000

25.000

30.000

35.000

40.000

45.000

50.000

2014 2015 2016 2017

Earnings before taxes 33.434 38.026 45.426 31.842

Net profit 27.747 32.087 33.920 22.767

Mill

ion

s o

f p

eso

s

Profits

Financial Information

(*) Values under IFRS

0

20.000

40.000

60.000

80.000

100.000

120.000

140.000

2014 2015 2016 2017

Events Revenue 89.370 97.100 103.018 131.309

Management revenue 18.257 24.402 23.068 19.167

Mill

ion

s o

f p

eso

s

Revenue

Financial Information

Liquidity 2017

Current ratio 0,67

Debt 2017

Debt level 33,92%

Short term debt concentration 20,66%

Interest coverage 36,30

Ratios

Financial Information

Ratios

Leverage 2016 2017

Total leverage 0,24 0,51

Short term leverage 0,13 0,16

Activity 2016 2017

Account receivable turnover 9,37 8,84

Average payback period 38,43 40,72

Performance 2016 2017

Net profit margin 26,90% 15,13%

Return over equity 7,09% 4,70%

Income statement Consolidated to Dic de 2017

Gross margin

𝐺𝑟𝑜𝑠𝑠 𝑝𝑟𝑜𝑓𝑖𝑡

𝑁𝑒𝑡 𝑠𝑎𝑙𝑒𝑠= 99%

Operational margin

𝑂𝑝𝑒𝑟𝑎𝑡𝑖𝑜𝑛𝑎𝑙 𝑝𝑟𝑜𝑓𝑖𝑡

𝑁𝑒𝑡 𝑠𝑎𝑙𝑒𝑠= 22%

Net margin

𝑁𝑒𝑡 𝑝𝑟𝑜𝑓𝑖𝑡

𝑁𝑒𝑡 𝑠𝑎𝑙𝑒𝑠= 15%

(*) Values in thousands of pesos.

2016 2017 % Var

Incomes from ordinary activities 126.085.787 150.475.721 19%

Cost of sales 1.786.987 1.942.336 9%

Gross Profit 124.298.800 148.533.385 19%

Other incomes 21.519.004 2.502.872 -88%

Management expenses 45.492.778 51.322.027 13%

Sales expenses 53.691.723 66.030.838 23%

Other expenses 1.119.951 483.620 -57%

Operational Profit 45.513.352 33.199.772 -27%

Financial incomes 1.561.400 1.356.309 -13%

Financial expenses 1.649.120 2.714.320 65%

Earnings before taxes 45.425.632 31.841.761 -30%

Taxes 11.505.920 9.074.585 -21%

Net profit 33.919.712 22.767.176 -33%

21%

20%

42%

17%

Current liabilities Financial Liabilities

Other liabilities Liabilities due to deferred taxes

4% 2%9%

2%

63%

20%

Current assets Other financial assets

Related investments Intangible

Porperty, plant and equipment Investment properties

Statement of financial situation Consolidated to Dic de 2017

(*) Values in thousands of pesos.

733.043.324

248.646.784

484.396.540

Assets Liabilities Equity

Razones de Deuda a Diciembre 2017

Debt ratio

𝑇𝑜𝑡𝑎𝑙 𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠

𝑇𝑜𝑡𝑎𝑙 𝑎𝑠𝑠𝑒𝑡𝑠= 34%

Debt to equity

𝐹𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠

𝐸𝑞𝑢𝑖𝑡𝑦= 11,8%

Autonomy ratio

𝐸𝑞𝑢𝑖𝑡𝑦

𝑇𝑜𝑡𝑎𝑙 𝐴𝑠𝑠𝑒𝑡𝑠= 66%

Liabilities

Current No current

COMITÉ DIRECTIVO

Andrés López Valderrama CEO

Mario Cajiao Pedraza Planning and Corporate affairs Vicepresident

Roberto Vergara Restrepo International Business Director

Natalia Riveros CastilloGeneral Secretary

Marisol Suarez LaverdeDairs Director

Elizabeth Arias ÁvilaCommunications and Advertising Chief

Mauricio Paredes García Operations and Managing Director

Martín Camargo Pérez Technical and Infrastructure Director

Patricia SandovalInternal Audit

Alexandra Torres AschMarketing and Sales Manager –Ágora Bogotá

Juan Esteban PerezExecutive Director– Puerta de Oro

Contact