Cementos Argos announces 5% increase in 3Q revenue

Cementos Argos has posted consolidated revenues of COP2489bn (US$641.82m) in the third quarter of 2021, up 5.3 per cent YoY, favoured by the positive evolution of volumes and prices. Adjusted EBITDA also increased 2.4 per cent YoY to COP473bn from COP462bn in the 3Q20.

The positive EBITDA evolution was mainly attributed to the performance of Colombia, in a combination of better market environment and commercial efforts to increase the company’s exposure to the retail segment. Cost headwinds from inflationary pressures also affected EBITDA, mainly due to the impact from fuels, freights and transportation.

Adjusted cement volumes advanced 11.9 per cent YoY to 4.248Mt from 3.795Mt in the third quarter of 2020.

“In this context, that has also generated cost inflation pressures, Argos holds a privileged position given its capacity to locally produce clinker and cement in each of the regions where we operate. Additionally, the strategic geographic location of our network of ports and our own fleet of vessels, facilitate the integration of the Cartagena plant, which is one of the most efficient in the Americas, with the grinding stations and ready-mix operations in the US and the Caribbean,” said Juan Esteban Calle, CEO.