Argos' consolidated revenues rise 14% in 1Q19
In the first three months of 2019, Argos reported revenues of US$693.8m, an increase of 14 per cent on 1Q18. Operating EBITDA reached US$99.39m, 3.7 per cent higher, while net profit totalled US$4.9m.
Total cement volumes for Argos amounted to 3.8Mt, 4.7 per cent higher than in 1Q18, while concrete volumes rose by 2.3 per cent to 2.4Mm3.
"These results are the reflection of a great teamwork that results in the growth of our revenues and volumes, the increase of our financial flexibility, the extraordinary results of our BEST programme and the reduction of indebtedness. We reaffirm our commitment to serve every day better to our customers and continue accompanying the construction of dreams in all the territories where we have presence," said Juan Esteban Calle, Argos president.
Regional results
In the USA Argos achieved revenues of US$373m, 10.6 per cent higher than in the same period of 2018. EBITDA was US$37m. Cement volumes reached 1.4Mt, up 13 per cent and concrete volumes were 1.7Mm3, up 3.1 per cent.
Colombia recorded revenues of US$177.7m, a rise of 7.2 per cent on 1Q18 and an operative EBITDA of US$29m, with a variation of -10.7 per cent. Cement shipments totalled 1.2Mt, up 3.9 per cent and concrete volumes rose to 688Mm3, up 4.2 per cent on 1Q18. Aggregate volumes reached 1.6Mt, a growth of 24.3 per cent.
In the Caribbean and Central America cement shipments reached 1.2Mt , down -2.7 per cent on 1Q18. Revenues totalled US$143m and EBITDA totalled US$43m. The strongest markets in the Caribbean were Dominican Republic, Puerto Rico and the Caribbean islands which saw increases of 22 per cent, 12 per cent and 10 per cent, respectively.
