Cementos Argos - June 2015
Cementos Argos’ 1Q15 results have revealed a 27 per cent jump in revenue to COP1.7trn (US$630m), driven by growth in trade to the US. Consolidated EBITDA over the period advanced by 18 per cent to COP307bn (US$121m) while net profit rose 3.3 per cent. Cement dispatches improved by 18 per cent to 3.2Mt over the quarter with the Colombian market registering a 19 per cent increase to 1.5Mt.
The US market, however, saw shipments rise by 39 per cent to 635,000t, while the Caribbean and Central American division recorded cement sales of 951,000t, up 15 per cent, reflecting consolidation of the assets in French Guiana along with general growth in the market. Looking ahead, the company has reportedly set its sights on Peru and Chile for future expansion. “Peru and Chile are countries that interest in the region,” according to Jorge Mario Velasquez, company president. Chile is apparently making strong inroads in seismic technology while Peru is enjoying promising construction growth.