Grupo Argos' net income grew 32% in 2018

Grupo Argos' net income grew 32% in 2018
2/23/2019 7:59:35 AM

Medellin Grupo Argos achieved a consolidated net profit of COP 1.2 trillion in 2018, which represents an increase of 32% compared to 2017, supported by the good results of our strategic businesses: Cement, Energy and Concessions.

In 2018, it maintained its focus on profitable growth, reaching an EBITDA of COP 4 trillion, the highest in the history of the business group, and an EBITDA margin of 28%.

Grupo Argos made investments of more than COP 1 trillion as a sign of confidence in its strategic businesses. In Cementos, the opportunities of the Colombian capital market were exploited and the participation was increased to 58% in ordinary shares; in Energy, the issuance of shares by Celsia was subscribed for an amount of COP 780 billion; and in Concessions, the process of delisting of Odinsa was completed, a company with 99.84% of the shareholding.

 "These results place us in a privileged position and with optimism to continue promoting the development of infrastructure in our country, a fundamental pillar of competitiveness and progress for Colombia", says Jorge Mario Velásquez, President of Grupo Argos.

 At the end of 2018, assets were consolidated for COP 49 billion, which positions Grupo Argos as a relevant player in the infrastructure sector of the region.

 "We are very satisfied with the results obtained by Grupo Argos and all our subsidiary companies, as a result of a framework of respect for our environment, which is why we were recognized as the most sustainable company in the world in the construction materials sector, for the Dow Jones Sustainability Index. This allowed us to receive the Gold Class distinction in the RobecoSam Sustainability Yearbook, "says Jorge Mario Velásquez.

During the last year, important milestones were produced in all businesses. In Odinsa, it is worth highlighting the construction progress in the Pacífico 2 concession, which has already reached 59%, 8% above the established schedule. In Celsia, investments were made for COP 618 billion, which allowed increasing the participation in renewable, non-conventional energies, and reaching a figure of 624 thousand clients. At Cementos Argos, the BEST project has resulted in greater efficiency, which has contributed to the improvement of the company's net profit, reaching COP 179 billion. For its part, the Real Estate Business closed 2018 with property transactions of close to COP 140 billion, an unprecedented figure for this business group.

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