Cementos Argos dispatched 16Mt of cement in 2018

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.