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In 2023, 45% of Grupo Argos' revenue came from 20 countries and territories outside of Colombia
22 July 2024In 2023, 45% of Grupo Argos' revenue came from 20 countries and territories outside of Colombia
Read moreDuring the first quarter, revenues grew by 49% compared to the same period last year, reaching COP 90 billion. The cash flow reported an increase of 564%, closing at COP 26 billion, while the EBITDA reached COP 38 billion, representing a 322% increase compared to 2022.
These results are generated thanks to the realization of new businesses in the city of Barranquilla and the returns delivered by portfolio investments such as the Sofitel Calablanca Hotel in Barú. They also reaffirm the growth and leadership prospects of the Urban Development Business in the design and execution of urban and commercial projects with high standards of quality and sustainability in the region.
“We are proud of these results, as they allow us to create value for Grupo Argos shareholders while contributing to the sustainable development and competitiveness of the departments of Atlántico and Bolívar. From the Urban Development Business, we will continue to drive high-quality projects that contribute to improving the quality of life and generating opportunities for the residents of Barranquilla and Barú in Cartagena.”
Maria Clara Aristizabal – Manager, Grupo Argos’ Urban Development Business
Currently, the Urban Development Business has 52 signed agreements that will generate cash revenues of COP 350 billion over the next five years.
About the Urban Development Business.
With over 35 years of experience, Grupo Argos’ Urban Development Business designs and executes urban projects in the metropolitan area of Barranquilla and in Barú, Cartagena. Among the most notable projects are Ciudad Mallorquín in Puerto Colombia, Atlántico, considered one of the country’s most important housing mega-projects, and the construction of the Sofitel Calablanca Hotel, considered the best luxury hotel in Latin America.
It is also worth highlighting the urban projects in Barranquilla, including the Parque de la Castellana and Parque del Realismo Mágico, as well as the new Carrera 65A, the expansion of Calle 98 and Carrera 71 in the city of Barranquilla, and the extension of Calle 2A in the municipality of Puerto Colombia.
In 2023, 45% of Grupo Argos' revenue came from 20 countries and territories outside of Colombia
Read more100.000 people in 18 departments of the country can now enjoy safe drinking water thanks to the water security efforts of Grupo Argos Foundation
Read moreGrupo Empresarial Argos has intervened in over 8,400 hectares through mandatory compensation processes and more than 20,000 hectares in voluntary programs
Read moreCompanies within Grupo Empresarial Argos have executed over USD 100 million in their share repurchase programs
Read moreThe common stock of Grupo Argos surpassed COP 17,000, recovering the price levels prior to 2020
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