comillon_engMessage from the Maximum Responsible to the Shareholders’ Meeting and Stakeholders.

Today we meet again, as we have done for 24 years, to analyze the results of the execution of the previous period and design the future of society. Together we have witnessed the undeniable growth that we have had as a company, the Organizational maturity that we have cemented, the effectiveness of the work we do as a team, the know-how that positions us in the context of the sector, and the strength, autonomy and empowerment shown by management in decision-making. All of this has allowed us to move firmly towards the goals we have set, bypassing the rigors of the dynamic environment in which our businesses are developed.

Recent changes in legislation, with the modification of the country’s tax structure and the issuance of the new free zones regime, have set a new course which, although imposing more controls, represents a significant differential for companies from the point of view of Offering us great opportunities for the development of our activities and enhancing the possibilities of attracting investments and diversifying the offer of services under the free regime.

In an objective way we can report important figures of accumulated growth in these years, some of them with truly relevant results, such as multiplied by 15 the company’s book assets, having distributed in dividends more than $ 73,239 million pesos, which represents having recovered 20 times the capital contributed by the shareholders, have increased assets by more than 34 times, to have achieved the positioning as Operator User of 15 free zones in the sectors of greatest interest for the country, to develop the real estate potential offered by the regime with highly competitive infrastructure works such as Zofia,obtained the trinorma certificate through which we recognize the quality of our services management, compliance with environmental requirements and optimal conditions for our employees, have impacted on the quality of life of more than 1,200 children from surrounding neighborhoods and all other projects that We have brought forth and fill us with pride.

In the framework of the implementation of International Financial Reporting Standards, 2015 was the year of transition and 2016, the year of adjustments and corrections; This coupled with situations of direct impact on our business such as global uncertainty due to the surprising decisions in Europe and the United States that defined a new style of political administration in some of the main markets of the world, the increase in interest rates that are Kept the whole year, the effect of the crisis of the energy mining sector, and the peace negotiations that polarized the investing mood in the country, definitely influenced the results of the period under analysis, whose most relevant figures are: EBITDA $ 29,202 million pesos, result of the year $ 14,068 million Of pesos, equity of $ 68,762 million pesos and total assets of $ 185,627 million pesos.

Throughout our business history we have successfully tackled the conditions that point us to the times and at this moment we are ready to start a new cycle of growth, restructuring the strategies that will lead us to obtain the vision we have designed.

This 2017, and probably also 2018, of deep divisions and uncertainty in the politics and the economy of the environment, is the ideal period to make strategic changes in the organizational structure, the way we work and the way we approach the Integral growth of the organization, relying on our ethical values, technology, innovation and knowledge, which favor the integrated implementation of the businesses in which we are interested.

Ensuring the sustainability of our organization means not succumbing to the temptation to stay in the comfort of the solidity we enjoy today, but being creative to build on our achievements, defining innovative paths, maintaining our spirit of expanding frontiers and generating shared value to positively influence And progress together with our stakeholders.

Zofia is a hotbed of opportunities that we must take advantage of, so that this free zone takes on the dimension of progress we dream of designing it; Its infrastructure, 100% environmentally friendly, is the most projected product we have, not only because of its ability to allow the implementation of new products and services that add value, but also because of its ability to expand in the so-called Annexes 1, 2, 3 and 4, which guarantee more than 22 additional hectares to motivate the development of projects, in the economic and market segments with greater dynamism in the country and the world.

Zona Franca de Barranquilla, meanwhile, is a logistics center by nature, which is demanding a modernization boost to optimize its profile in the international trade. In that we are working in a way that we can achieve to meet international standards in the matter, always respecting its vocation of multimodal axis in the Colombian Caribbean and its connotation of heritage of Barranquilla, which aims to be the capital of the FTAs. This, gentlemen shareholders, is a message of trust in what we are, security in what we have built and hope in a future that offers the generations to come, the living conditions and progress we have dreamed of.

César Caro Castellar

President