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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.
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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.
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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.
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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
