In 2023, 45% of Grupo Argos' revenue came from 20 countries and territories outside of Colombia
22 July 2024In 2023, 45% of Grupo Argos' revenue came from 20 countries and territories outside of Colombia
Read moreIn line with its commitment to revealing value for its shareholders, in 2023, Grupo Argos launched a share buyback program for up to COP 500,000 over three years. During 2023, the company repurchased more than seven million ordinary and preferred shares, with an investment of COP 65,000 million and a weighted price of COP 9,600 for ordinary shares and COP 6,400 for preferred shares.
Likewise, both Cementos Argos and Celsia have received approval from their respective Shareholders’ Meetings to carry out share buybacks, which, when added to the Grupo Argos program, reach a total amount of up to COP 1 trillion. This buyback program reaffirms confidence in the business plan and the strategy being executed by Grupo Argos and all its companies.
Among the benefits of this mechanism is the reduction of the outstanding shares of the companies, which positively impacts financial indicators such as earnings per share and return on equity, without affecting financial robustness and their growth plan, while offering shareholders of Grupo Argos, Cementos Argos, and Celsia a liquidity alternative.
During 2023, Grupo Argos continued with the execution and materialization of strategic projects for its businesses, such as the signing of the asset combination agreement between Argos USA and Summit Materials, the start of operations of the Odinsa and Macquairie roads and airports platform, and Celsia’s foray into the Peruvian energy market. Coupled with the execution of the buyback program, these developments generated increased investor interest in the company’s shares and led to a 50% appreciation in the value of the ordinary shares and a 69% increase in the value of the company’s preferred shares compared to the minimum prices during the year.
Since the announcement of the merger between Argos USA and Summit Materials and the end of 2023, both the ordinary and preferred shares of Cementos Argos experienced growth of over 120%. As for Celsia, after reaching its lowest point in February, the shares closed on December 28 with an increase of more than 40%.
In 2023, 45% of Grupo Argos' revenue came from 20 countries and territories outside of Colombia
Read more100.000 people in 18 departments of the country can now enjoy safe drinking water thanks to the water security efforts of Grupo Argos Foundation
Read moreGrupo Empresarial Argos has intervened in over 8,400 hectares through mandatory compensation processes and more than 20,000 hectares in voluntary programs
Read moreCompanies within Grupo Empresarial Argos have executed over USD 100 million in their share repurchase programs
Read moreThe common stock of Grupo Argos surpassed COP 17,000, recovering the price levels prior to 2020
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