business | MARCH 28, 2019
Medellin Grupo Argos, in its General Shareholders Meeting Assembly in Medellín, announced investments in 2019 close to COP 2.6 billion, 30% higher than the amount invested the previous year, in its strategic Energy, Concessions and Cement businesses.
These investments can be made thanks to the good results obtained in 2018, with a consolidated net income of COP 1.2 billions, which represents an increase of 32% compared to 2017, and the highest ebitda in its history, with COP 4 billions
“Our business group is optimistic about the future of the country and, therefore, in 2019 we have an investment plan for COP 2.6 billion, 30% higher than the previous year, which will help boost the Colombian economy and generate value to our businesses and shareholders”, said Jorge Mario Velásquez, President of Grupo Argos.
Among the major milestones reached during 2018, the fact that Grupo Argos was listed, for the second consecutive year, as the most sustainable company in the world in the construction materials sector by the Dow Jones Sustainability Index, a recognition that ratifies the company as a world leader 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 us a huge possibility for companies such as Grupo Argos, with the capacity to attract global capital and with the best corporate governance and sustainability practices, to help build the society we want, ”said Jorge Mario Velásquez.
For this reason, Grupo Argos will make long-term investments in its three strategic businesses. From Celsia, the Energy subsidiary, investments in non-conventional renewable energies will be executed, with a portfolio of wind and solar projects for about 550MW; Cementos Argos will continue working for profitability with the goal of doubling the EBITDA of 2018 in the next 5 years; and from Odinsa, out subsidiary of Concessions, three private initiatives Will promote the country's competitiveness: the expansion of El Dorado airport, the new Cartagena airport and the western perimeter road in Bogotá.
The good results obtained by the company means 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 the rate of COP 87.50 per share, since April 2019.
Main figures of consolidated results
• Consolidated incomes COP 14.3 billion.
• Consolidated net income COP 1.2 billion, which represents an increase of 32% compared to 2017.
• Ebitda of COP 4 billion, the highest in the history of the business group.
• Ebitda margin of 28%.
• Consolidated assets for COP 49 billions.