1Q2018 Corporate Results Preview

We expect the Colombian construction sector to perform positively this quarter compared to the weak performance seen in the last quarter of 2017, despite the fact that gray cement production for the first quarter of 1 decreased 2018% compared to the fourth quarter of 9.43, explained by a delay in the construction of four-lane highways. Similarly, gray cement shipments registered a slight decline in the local market due to adverse weather conditions. However, conditions in the sector compared to the first quarter of 4 show a slight recovery, as the Housing Construction Cost Index (ICCV) for materials increased 2017%, while labor increased only 4%. In line with the above, we expect a weak performance for the sector amid the slow execution of both public and private works in the local market.See more