Cementos Argos dispatched 16Mt of cement in 2018

Cementos Argos dispatched 16Mt of cement in 2018
25 March 2019

Cementos Argos has released its financial figures and strategic milestones of 2018 during the shareholders' annual meeting.

Cementos Argos reported a consolidated EBITDA of COP1.54bn (US$491.7m) and a growth of eight per cent. The company dispatched 16Mt of cement and 10.3Mm3 of concrete generating income of COP8.4bn. Net income was COP178.563m in 2018.

Regional summaries
US cement dispatches in 2018 amounted to 5.7Mt, while concrete dispatches reached 7Mm3. This raised US$1.5bn income and achieved an EBITDA of US$239m.

In Colombia 5Mt of cement was dispatched and 2.9Mm3 of concrete. This raised COP2.3bn in income and gave an EBITDA of COP433.905m.

The Caribbean and Central America region had 5.1Mt and 413,000m3 of cement and concrete dispatches, respectively. This gave an income of US$583m and an EBITDA of US$178m.

Juan Esteban Calle, president of Cementos Argos said: " Today we are a growing multinational company that operates in 15 countries and arrives to more than 34 destinations that focusses on creating value-based solutions and innovative products, logistic synergies and a business between merging and developed economics."

Cementos Argos had a net debt index of 3.7 times EBITDA plus dividends, compared to an index of 4.7 at the end of 2017. Total debt fell to COP7.1bn at the end of 2018.

Published under Cement News