Medellin. Grupo Argos, in the first quarter of 2019, reached a net profit of the parent company of COP 144 billion, which represents a growth of 32% compared to the same period of the previous year. A result that is based on the good performance of its three strategic businesses, especially in the case of Cementos Argos, which exceeded its consolidated income by nearly COP 300 billion during the period.
Additionally, during this quarter, Grupo Argos had revenues of COP 3.7 billion, which represents an increase of 12% compared to 2018, and achieved a consolidated EBITDA close to COP 1 billion, an increase of 6% compared to the same period. 2018. In this way and maintaining its strategic focus on infrastructure, the company achieved a net profit of COP 223 billion, with a growth of 1%.
“We are pleased to report good economic results for this quarter, with growing revenues, EBITDA and controlling net income, which reflect the good dynamics in most of the markets where we operate, and which are also accompanied by significant progress in the execution of the strategy defined and executed with discipline and coherence”, affirms Jorge Mario Velásquez, President of Grupo Argos.
The development of the strategy with the businesses is reflected in the purchase of the assets of Enertolima, for COP 1.7 billion, by Celsia; the successful placement of bonds in the Epsa market for COP 1.1 trillion, which was 1.8 times oversubscribed; the bond issue of Quiport, Odinsa’s airport concession in Quito, for USD 400 million; and the improvement in the operating results of Cementos Argos with an increase in the demand for cement and concrete in the main markets together with higher prices, which allowed registering revenues that grew by 14% for the quarter.
“The positive trend of the results we have achieved in recent months, with a growing EBITDA of nearly COP 1 trillion, is evidence of the focus on the market and operational efficiency, hand in hand with active portfolio management that it allows us to generate value for our businesses and for our shareholders,” says Jorge Mario Velásquez.
The results have been achieved within the framework of a rigorous sustainability strategy by Grupo Argos that has been rewarded, at the beginning of the year, with the Latin Trade Index Americas Award for Sustainability for its environmental practices, which validate the contributions that Grupo Argos made to the company in 2018.