Grupo Argos prioritizes the care of the employment of its nearly 14,000 employees and maintains revenues of 3.6 billion in the situation14 May 2020
- The organization, defined by its five strategies to face contingency: (i) the care and health of its collaborators and families, (ii) the care of employment, (iii) the continuity of business, (iv) the support for society and (v) support for the institutions.
- The company closed the first quarter, demonstrating its resilience by maintaining revenues of COP 3.6 billion, with a cash position of COP 115 billion separately and COP 1.2 billion in a consolidated manner, which provides it with financial flexibility and the liquidity necessary for this moment.
- On the philanthropy and corporate citizenship front, Grupo Argos has contributed more than COP 16,500 million to strengthen the health system and support the most vulnerable families across the country.
“The Covid – 19 contingency has driven us to bring out the best in us, work quickly and reaffirm the values that identify an Argos Group in society. In this context, we managed to prioritize the health and job preservation of all our collaborators and the income affected by COP 3.6 billion. We are well positioned, we are optimistic about the future and we trust in the capacity of the country and its companies to continue promoting well-being and development”, Jorge Mario Velásquez, President of Grupo Argos.
Grupo Argos defined as its highest priority the health and well-being of its employees and their families, as well as the preservation of the employment of nearly 14,000 people. Along these lines, it has implemented a permanent medical, social, physical and emotional support strategy for all its employees, including those who are working from home.
Additionally, and with the aim of mitigating the shocks of the situation in the most vulnerable communities, Grupo Argos contributed more than COP 13,000 million of resources to strengthen the capacity of the health system with the acquisition of beds in Intensive Care Units, respirators , elements of personal protection and tests to meet the public health needs in Colombia. In parallel, the organization has allocated more than COP 3,500 million to support the vulnerable population that depends on informal work, with food aid reaching more than 110,000 families with the help and support of other allies.
“Today more than ever we must be supportive and empathetic with those who need it most. Strengthening the mechanisms to guarantee the well-being of the communities, collaborators, suppliers and all our interest groups is essential to resolve this contingency”, said Jorge Mario Velásquez.
Grupo Argos has led a strategy that strengthens the liquidity position by ensuring the disbursement of loans for more than COP 1 billion, in addition to the organization’s reduction of costs and expenses of COP 520,000 million and the postponement of business investments by COP 870,000 million. These efforts, which will continue to deepen, will represent close to COP 2.5 billion of essential resources to have a better margin of maneuver at the present time.
The consolidated income of Grupo Argos at the end of the first quarter of the year was COP 3.6 billion, with a variation compared to the same period of the previous year of 3%. Ebitda was consolidated at COP 819,000 million, while profit reached COP 26,000 million. It is highlighted that the net contribution of the strategic businesses (Cementos Argos, Celsia, Odinsa and the urban development business) is positive both in income and in Ebitda, which confirms the benefits of the infrastructure portfolio diversification strategy and its solidity.
Grupo Argos' Urban Development Business increased its cash flow by over 500% and its EBITDA by 300% in the first quarter of the year19 May 2023
The Urban Development Business continues to consolidate its leadership in the development of high-quality urban projects and sustainable tourism in the northern region of the country, achieving record revenues of COP 90 billion (+49%), a net cash flow of nearly COP 26 billion (+500%), and in the case of EBITDA, a growth of 322% surpassing COP 38 billion.
Grupo Argos achieved historic results: revenues reached COP 5.7 trillion (+25%), EBITDA reached COP 1.6 trillion (+28%), and net income reached COP 570 billion (+81%).10 May 2023
Cementos Argos delivered a positive performance across its three regions: in Colombia, it achieved a 39% growth in EBITDA, in Central America, a 2% growth, and in the United States, an impressive 77% growth. Meanwhile, Celsia continued to strengthen its solar and energy transmission and distribution platforms, reporting in a consolidated EBITDA growth of 13%. Odinsa recorded an 18% increase in passenger traffic in its airport concessions, while its road infrastructure experienced a 3% growth in traffic.
Grupo Argos will pay over COP 499 billion in dividends to its shareholders. The first payment will be made this Tuesday, April 11th.10 April 2023
During the last ordinary Shareholders' Assembly meeting of Grupo Argos, a dividend of COP 575 per share was approved, representing a 15% increase compared to last year and reflecting the organization's solid performance in its results.
Grupo Argos had record historic results as of the fourth quarter of 2022: Accumulated consolidated revenue was COP 21.3 trillion (+31%), EBITDA was COP 5.2 trillion (+21%), and net income was COP 1.4 trillion (+19%).28 February 2023
These outstanding figures were accompanied by a deleveraging policy that, over the last three years implied a reduction of over COP 3 trillion in in net debt.