Grupo Argos announced investments close to COP 2.6 trillion in 2019
4/8/2019 10:19:06 AM
Medellin. During the Shareholders’ General Assembly held in Medellin, Grupo Argos announced investments in 2019 of nearly COP 2.6 trillion. This is 30 percent more than last year’s investment. All of which will be in its strategic business of Energy, Concessions and Cement.
These investments can be made thanks to the good results obtained in 2018. We had a consolidated net profit of COP 1.2 trillion, which represents an increase of 32 percent compared to 2017, and the highest Ebitda in its history, with COP 4 trillion.
"Our business group is optimistic about the future of the country and, therefore, in 2019 we have designed an investment plan for COP 2.6 trillion. That is 30 percent higher than last year. This will help boost the Colombian economy and generate value for our businesses and shareholders, "said Jorge Mario Velasquez, Grupo Argos CEO.
Among the major milestones achieved during 2018 is the fact that Grupo Argos was acknowledged, for the second year in a row, as the most sustainable company in the world in the construction materials sector by the Dow Jones Sustainability Index. This is a recognition that ratifies the company as a world benchmark for its best practices in social, environmental and economic matters.
"In the coming years we will continue to be a relevant player in the infrastructure of the country and the American continent. This sector offers huge possibilities for companies such as Grupo Argos, and the chance to attract global capital with our best practices of corporate governance and sustainability which helps build the society we want, "said Jorge Mario Velasquez.
Therefore, Grupo Argos will make long-term investments in its three strategic businesses. Celsia, an Energy subsidiary, will invest in non-conventional renewable energies with a portfolio of wind and solar projects of around 550MW; Argos will continue working on profitability with the goal of doubling 2018’s Ebitda in the next 5 years; and Odinsa, a Concessions subsidiary, will promote three private initiatives to push the country's competitiveness: the expansion of El Dorado airport, the new Cartagena airport and the western perimeter road in Bogota.
The good results achieved by the company turn into greater value for shareholders, so the General Assembly approved an annual dividend of COP 350 per share. This dividend will be paid in cash, in four quarterly installments, at COP 87.50 per share, as of April 2019.
Main figures of consolidated results
• Consolidated revenues COP 14.3 trillion.
• Consolidated net income of COP 1.2 trillion, which represents an increase of 32 percent compared to 2017.
• EBITDA of COP 4 trillion, the highest in the history of the business group.
• Ebitda margin of 28 percent.
• Consolidated assets for COP 49 trillion.