Cementos Argos - March 2019
In 2018 Cementos Argos shipped 16Mt of cement and 10.3Mm3 of concrete. This generated net income of COP291bn (US$93m) and EBITDA of COP1.54trn. The company ended the year with a net-to-debt EBITDA index of 3.7 times, compared to an index of 4.6 at the end of 2017. According to the company, a bond issue totalling COP500bn with an average life of 9.5 years, plus a new syndicated loan totalling US$600m “significantly improved the debt profile”.
In the US 5.7Mt of cement and 7Mm3 of concrete was shipped last year, generating revenue of US$1.49bn and EBITDA of US$239m. In Colombia cement and concrete dispatches came in at 5Mt and 2.9Mm3, respectively, esulting in US$738m in revenue and US$142m in EBITDA. In the Caribbean and Central America markets, shipments reached 5.1Mt of cement and 412Mm3 of concrete, representing revenue of US$593m and EBITDA of US$178m.