Argos records 1H21 cement shipments of 8.6Mt

Argos records 1H21 cement shipments of 8.6Mt
12 August 2021

Argos recorded cement shipments of 8.6Mt in the 1H21, an increase of 26.9 per cent compared to the 1H20. The advance was supported by the performance of the group in the USA, the Caribbean and Central America, as well as having a low comparison base.

Consolidated revenues reached US$1.3bn, up 11 per cent compared to the 1H20. Likewise, EBITDA rose by 29.9 per cent to US$266.7m. EBITDA margin , excluding the profits on the sale of concrete assets, reached a record of 20.3 per cent, the highest since 2013.

Concrete volumes fell by 1.6 per cent in the 1H21 and were affected by adverse weather conditions in Dallas, Houston, Texas as well as in the Carolinas in the USA.

Juan Esteban Calle, Argos CEO, said: “We are very satisfied with the figures achieved during the first half of the year in our three regions, and we are optimistic about the future of our customers, the progress of their housing and infrastructure projects, which are contributing significantly to employment recovery, as well as the levels of economic activity and the creation of social value in all the countries and markets where we are present, and with the noteworthy recovery of the company's financial flexibility in recent months, which is thanks to the commitment, creativity, passion and innovation of all our employees and to the success in the deployment of the BEST and RESET programmes.” 

As of 30 June 2021, the net debt/EBITDa plus dividend indicator stood at 3.1 times.

Published under Cement News