Grupo Argos ratifies recovery in the first semester with a growth of 32% in the consolidated net profit compared to 2019 and that exceeds 6.6 times that registered in 202012 August 2021
- The Business Group began the process of vaccinating its collaborators against Covid-19. To date, 86% of its collaborators in Colombia have received at least one dose of the vaccine.
- During the last 12 months, the company has reduced its consolidated debt level by COP 1.5 trillion thanks to the growth in the generation of operating cash flow and the divestment of non-strategic assets.
- The strategy and management of the company’s capital structure was validated by Fitch Ratings, which ratified Grupo Argos AAA credit rating with a stable outlook.
- Through the Creamos Valor Social program, the Business Group is implementing concrete actions to support Colombia by generating employment for 2,000 young people and women, strengthening 7,500 MSMEs, and improving housing for 200 families in Medellín with the Hogares Saludables initiative.
Grupo Argos’ financial results at the end of the second quarter of 2021 confirmed the progressive recovery trend that the organization had been reporting and that is supported by the boost in infrastructure as a key lever for economic reactivation. The results returned to levels prior to the pandemic, leveraged on the improvement in the dynamics of VIS and non-VIS housing sales in Colombia, in the growth in the demand for construction materials in Central America and the Caribbean, in public investment in infrastructure in the United States, in the growth of energy demand and in the progressive recovery of traffic flows in road concessions and airports.
To continue contributing to the economic reactivation and with the purpose of caring for the life and health of its more than 13,000 employees, the organization began the vaccination process internally and to date has registered about 8,000 employees with at least one dose of the vaccine, which is equivalent to 86% of the human team of the Business Group in the country.
Among the most relevant milestones during the quarter, the closing of the sale of 24 concrete plants not connected with the business logistics chain for USD 184 million in the United States, resources that were used to accelerate the deleveraging process of the organization. . During the last 12 months, the consolidated debt has decreased by COP 1.5 trillion, with a reduction in financial expenses of 20% year on year. Consistent with this effort, the strategy and management of the company’s capital structure were once again validated by Fitch Ratings, which ratified Grupo Argos’ AAA credit rating with a stable outlook given its financial flexibility and ability to access sources liquidity alternatives. This evaluation, added to the AA + with a positive outlook given by S&P in May, show the structural soundness of the organization.
“We celebrate the good results of a positive and encouraging second quarter that confirm the structural strength of Grupo Empresarial Argos and its ability to contribute to the economic reactivation in Colombia and the region as a relevant player in the infrastructure sector.”
Jorge Mario Velásquez – Chairman of Grupo Argos
Summary of financial results
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.