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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 moreAs of January 31, 2024, the shares of the companies within Argos Business Group continue the positive trend that set them apart at the close of 2023 in the Colombian stock market. While in 2023, the ordinary and preferred shares of Grupo Argos grew by 31% and 33% respectively, so far this year they have experienced growths of 10% and 22%. In the case of Cementos Argos, the trend is even greater, with growths in 2023 of 70% in ordinary shares and 77% in preferred shares, and 5% and 27% just this year. In the case of Celsia, the growth in 2023 reached 6.5%, and in the 2024 consolidated it amounts to 12%.
The positive performance stems, among other things, from the share repurchase programs approved at the Shareholders’ Meetings of each of the companies of Grupo Empresarial Argos in 2023 and to the improved volumes recorded in the capital market. Additionally, the organization has been materializing strategic projects such as the creation of road and airport verticals in its concessions business in partnership with Macquarie Asset Management, the merger of Cementos Argos assets in the United States with Summit Materials which was finalized in January 2024, and the strengthening of Celsia’s presence in Latin America with the announcement of its entry into Peru with the Caravelí wind project.
Furthermore, Grupo Argos and its companies have continued to strengthen operational excellence and prioritize a deleveraging policy which, in a volatile economic environment and with increases in financing rates, represents significant relief in financial expenses. From the first quarter of 2020 to the third quarter of 2023, the net consolidated debt of Argos Business Group decreased by about COP 5.0 trillion, while in the same period the consolidated EBITDA of the organization grew by more than COP 1.0 trillion.
Grupo Argos reiterates that, although the performance of the shares has been favorable, the current trading price of its companies on the Colombian Stock Exchange still does not reflect their intrinsic potential, so it will continue to promote initiatives to reduce the gap between the real value and the price of the shares.
In 2023, 45% of Grupo Argos' revenue came from 20 countries and territories outside of Colombia
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