Cementos Argos - August 2019

Cementos Argos has reported a 10.6 per cent YoY increase in revenue to US$1.419m in the opening half of 2019. Over the same period, net profit advanced by 33.5 per cent to US$22m, while EBITDA improved by four per cent to US$262.4m. Cement shipments during the six-month period came in at almost 8Mt, up 1.2 per cent YoY, with concrete dispatches of 5Mm3, down 2.5 per cent YoY due to heavy rainfall. The 1H19 also saw the company complete the sale of its stake in OMYA Andina and Cartón de Colombia for US$27m.

In other developments this month, Cementos Argos has delivered around 220,000m3 of ready-mixed concrete and over 8000t of cement to the Eastern Tunnel (Túnel de Oriente) project, connecting the Aburrá Valley with the San Nicolás Valley in Antioquia.

The US Environmental Protection Agency has also granted Energy Star® certification to Argos’ cement plant in Harleyville for the second year running. The plant, which has the largest cement mill in the US, operates with half the power consumption of a traditional mill and has a performance 25 per cent better than similar facilities in the country. It also co-processes waste.