Corporación ILG Internacional

What it is

ILG’s core business is ship representation, freight brokerage, bonded warehousing, inventory logistics and transport. It is an open-capital company (publicly traded) registered in Costa Rica’s National Securities Registry.

The group owns 100% of its subsidiaries. Those subsidiaries — 17 of them — span Costa Rica (nine entities, including a maritime arm called Marinsa and a grain-terminal unit) and six other countries from Guatemala to Colombia, plus TGD Worldwide Inc., a Panama-based freight-forwarding platform active across the region.

A new subsidiary, Terminales de Granos del Caribe ILG, S.A., was incorporated on 13 January 2024, with the aim of optimising storage, handling and distribution of grains, cutting logistics costs for the food and agro-industrial chain. It is the group’s most recent structural addition.

The company is domiciled in Costa Rica and owns 100% of its subsidiaries. Alongside those subsidiaries, it carries a strategic non-controlling stake: an associate position in Grupo Financiero Improsa, S.A. — Costa Rica’s privately held financial group — at 24.5%, valued on the balance sheet at ¢14.4 billion CRC (~$32.0 million USD) as of December 2024.

Who owns it

Corporación ILG Internacional is authorised to issue shares and debt securities traded on the Bolsa Nacional de Valores de Costa Rica through the BNV platform, under SUGEVAL supervision. It trades under the code CIMP and has issued bonds, common shares and preference shares.

Not published: The exact breakdown between controlling and free-float shareholders is not disclosed in the primary sources reviewed — the audited financial statements (Deloitte, March 2025), the BNV issuer page, or the SUGEVAL registry. The company describes itself as “capital abierto” (open/public capital), meaning shares are freely tradeable, but no single controlling shareholder’s name or percentage appears in available filings.

SUGEVAL’s Reglamento sobre Revelación de Información requires disclosure of shareholders holding ≥ 5% in the annual report (memoria anual); the 2024 memoria anual is published at ilglogistics.com but its shareholder tables are not text-extractable from available tools. Readers should consult that document directly.

Who runs it

Omar Ugalde is the Director General — effectively the CEO — having stepped into the top role in 2025 after 27 years leading ILG’s logistics division. He holds a Master’s in Business Administration from the Universidad de Costa Rica.

Noemy Segura is Directora Financiera (CFO equivalent), with an unbroken tenure at ILG since 1985 — a rare four-decade institutional memory at the top of any company. The board (Junta Directiva) page is listed on the company site but returned a 404 during this research; board composition was not confirmable from available primary sources during this session.

The money, in plain words

The December 2024 audited accounts — prepared under full IFRS and audited by Deloitte Costa Rica — show total assets of approximately ¢46.4 billion CRC (~$103 million USD, our calculation based on disclosed receivables being 40.9% of total assets). The biggest single asset is trade receivables: money owed to ILG by its shipping-line and freight clients, at ¢18.99 billion CRC (~$42.2 million USD).

The second-largest item on the balance sheet is the group’s 24.5% stake in Grupo Financiero Improsa, carried at ¢14.4 billion CRC (~$32.0 million USD). This is not a logistics asset — it is a financial investment — and it drove a notable disclosure: Deloitte issued a qualified audit opinion, meaning the auditors could not fully verify the Improsa valuation because Improsa prepares its own accounts under bank-regulator rules (CONASSIF/SUGEF) rather than IFRS, making a like-for-like check impossible.

This qualification applies only to the Improsa line; the core logistics operations received a clean view.

Revenue and net profit figures for the year ended 31 December 2024 are published in the audited PDF linked in the key-facts box above, but the income-statement tables are image-rendered in the document and could not be extracted as text. The headline P&L numbers are therefore not reproduced here; readers can read them in the original PDF.

What it is doing now

The most concrete recent move is the launch of Terminales de Granos del Caribe ILG in January 2024 — a new grain-terminal subsidiary in Costa Rica — signalling ILG’s intent to move up the logistics value chain into bulk-commodity handling, beyond its traditional containerised and general-cargo roots.

The group’s most recent quarterly financial statements run to 30 September 2025, filed with SUGEVAL and published on the company’s investor-relations page, keeping the market current on a rolling basis. A leadership transition also took effect: Omar Ugalde moved from a 27-year run as Regional Logistics Director into the Director General role in 2025, marking a generational management shift.

What to watch

• Improsa resolution. The qualified audit opinion on the 24.5% stake in Grupo Financiero Improsa is the single biggest financial uncertainty. Any change in Improsa’s regulatory capital position or a move to sell or increase the stake would materially shift ILG’s balance sheet.
• Grain terminal ramp-up. Terminales de Granos del Caribe ILG was only formed in January 2024; whether it reaches scale fast enough to contribute meaningfully to revenue is the key operational question for the next two years.
• CEO transition. Omar Ugalde is new in the top seat in 2025. His strategic priorities — regional expansion, debt issuance, capital allocation — are not yet publicly articulated beyond the existing business lines.
• Ownership disclosure. For investors, the absence of a text-extractable shareholder table is a transparency gap worth monitoring; the 2025 memoria anual will be the next opportunity to confirm the controlling-shareholder structure.

This is news, not investment advice.