CORPORACIÓN DE FERIAS Y EXPOSICIONES S.A.
USUARIO OPERADOR DE ZONA FRANCA
MANAGEMENT REPORT 2020
BOARD OF DIRECTORS CORFERIAS 2020 - 2022
President
Jaime Mantilla García
Vice-president
Enrique Vargas Lleras
Principal | Alternate |
Jaime Mantilla García | Juan David Ángel Botero |
Enrique Vargas Lleras | Sandra Neira Liévano |
Nicolás Uribe Rueda | Martha Yaneth Veleño Quintero |
Gonzalo Echeverry Garzón | Luis Fernando Ángel Moreno |
Juan Diego Trujillo Mejía | Carlos Alberto Londoño Castro |
Guillermo Botero Nieto (independent) | Rosemarie Saab - (independent) |
María José Ramírez (independent) | Camila Escobar Corredor (independent) |
Honorary
Reinhard Kling Bauer
Jorge Perdomo Martínez
Hernando Restrepo Londoño
Gonzalo Serrano Orejarena
Enrique Stellabatti Ponce
MANAGEMENT COMMITTEE
Andrés López Valderrama
CEO
Mario Cajiao Pedraza
Vice-President Planning and Corporate
Affairs
Natalia A. Riveros Castillo
General Secretary
Mauricio Paredes García
Deputy Director of Risk and Operations
Martín Camargo Pérez
Technical and Infrastructure Deputy
Director
Patricia Sandoval Marin
Internal Auditor
Juan Esteban Pérez
Executive Director - Puerta de Oro
Roberto Vergara Restrepo
International Business Director
Marisol Suárez Laverde
Fair Director
Elizabeth Arias Ávila
Communications and Advertising
Manager
Alexandra Torres Asch
Marketing and Sales Manager
Ágora Bogotá
Andrey Drufovka Urdaneta
Event Manager (E)
BOARD OF DIRECTORS AND EXECUTIVE PRESIDENCY
2020 MANAGEMENT REPORT
Dear Shareholders:
The year 2019 was considered one of the best years of the Corporación de Ferias y Exposiciones S.A. Usuario Operador de Zona Franca, hereinafter Corferias, standing out in the fulfillment of its strategic, financial, relationship and positioning challenges, and especially of economic, social, and environmental impact in the country and the city of Bogotá.
Based on the previous consideration, the year 2020 represented a year with great opportunities for Corferias and thus began the year ratifying in January and February a clear growth in all its business units due to the dynamics of the maturity of its portfolio of products and services, however, since the end of February 2020, the effect of the global pandemic due to the COVID-19 disease materialized in Colombia, which led the National Government to declare as of March 2020 a health, environmental and economical emergency.
Under this global health crisis, the President of the Republic initially declared a state of emergency for 30 calendar days, later, he gave instructions to mayors and governors on the management of public order, stating that "(…) meetings and agglomerations of more than fifty (50) people, (…)" and so on, the term of isolation and general quarantine was extended throughout Colombia, as a measure for the prevention and containment of COVID-19, a mechanism that allowed social isolation, and with this seeks to stop the contagion curve in the country, with the respective instructions and agreements between the National Government and local authorities, especially, to maintain the restriction of holding events in order to prevent crowds and meetings of people.
The declaration of national emergency and the decrees issued by the national and territorial governments then prohibited the characteristic meetings of the trade show industry, events, and congresses, constituting a legal impediment for the operation of Corferias in the city of Bogotá, Medellin and Barranquilla which forced the suspension of income-generating activities inherent to our corporate purpose from March 2020 onwards.
In this context, Corferias assumed a structural redesign of its strategy and priorities and 2020 represented a year in which Corferias worked on the following fronts: (i) Support to the country in the health management of the pandemic, making available from the authorities the fairground to develop a project to expand the city's hospital capacity at our facilities; (ii) total reprogramming of the calendar of trade shows and events with the associated management of the different relationships with partners, exhibitors and other interest groups (iii) Immediate implementation of a comprehensive digital strategy in order to offer our clients alternative channels for fulfillment of their business and marketing objectives;
- Coordinated work with the authorities in order to obtain the necessary permits to reopen the different fairgrounds and implement the biosafety protocols that allow us to develop our missionary activity when the health and market conditions are given; (v) Comprehensive restructuring of the entity with emphasis on the financial and human dimensions to adequately face the challenges imposed by the absence of traditional income and the new realities; and (vi) Updating of the entity's strategic direction considering different short, medium and long-term scenarios both for the management of the situation, the reactivation of the activity, the possible scenarios of a new normal for the industry and the search for new business models to continue adding value from the entity.
An essential part of the entity's priorities has been focused on monitoring the conditions required to restart the activity of trade shows, events and congresses, understanding that this is largely supported by the influx of people and the active and face-to-face participation of national and international entrepreneurs and hence public health, social, economic and public order conditions directly determine our ability to operate and be an essential part of the necessary economic reactivation that the country requires.
Given that these conditions did not exist during 2020 and that they will continue to have important limitations in 2021 and the years to come, it is necessary to recognize that the situations that this emergency has generated have affected and will plausibly and directly affect Corferias, with a impact that are of dimensions never known before, because even with the possibility of a vaccine in the short term (2021-2022), the reorganization of the industry and the effect on the business tourism market will be of significant dimensions. We estimate that returning to 2019 revenues may take Corferias and other industry players at least 5 years.
Notwithstanding the foregoing, we want to emphasize that during 2020 the board of directors and the administration rigorously executed all the priorities defined in the new strategic direction of the entity, having focused on the most relevant aspects to continue generating value and contribution to entrepreneurs, the city, and the country.
In this general context, and in accordance with the provisions of the different statutory and regulatory provisions, the management report is presented during 2020, where possible scenarios derived from the pandemic and the actions taken to define and build the ways to achieve the economic reestablishment of the entity's businesses and activities, the leading role that we will play in the necessary business economic reactivation of the city and the country and in the construction of new innovative and high-impact business models.
Kind Regards,
ANDRÉS LÓPEZ VALDERRAMA
CEO
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Corporación de Ferias y Exposiciones SA published this content on 08 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 April 2021 17:17:05 UTC.