Argos reports cement volumes up across the board
Published by Jonathan Rowland,
Editor
World Cement,
Colombia-based building materials multinational, Cementos Argos, reported consolidated cement sales of 4.2 million t in 3Q17 – a 16.7% year-on-year increase. Ready-mixed concrete volumes were hit by extreme weather in Texas and Colombia, to finish down 6.1% at 2.8 million m3.
On the financial side, adjusted earnings were up 7.5% at COP428 billion. Adjusted EBITDA margin stood at 18.9% – the highest consolidated margin report in 2017.
Cement sales benefitted from the “positive dynamics in the regions where the company operates and the consolidation of the Martinsberg operation.”
Including the Martinsberg operation, cement volumes in the US were up 49.4% at 1.5 million t.
Argos acquired the Martinsberg operation last year from HeidelbergCement Group of US$660 million. The deal included a 2.2 million tpy cement plant, as well as a eight cement terminals located in New York, Pennsylvania, Maryland, and Virginia.
Stripping out the impact of the Martinsberg acquisition, Argos still reported growth in US cement volumes of 5.7%.
The company also saw growth in its two other operating regions: in Colombia, cement sales were up 1.6%, while in the Caribbean and Central America Region, cement sales were up 5.9%, driven by strong growth in Honduras and the eastern Caribbean.
“We are optimistic about the performance of all markets in which we operate,” said Juan Esteban Calle, CEO of Cementos Argos.
Read the article online at: https://www.worldcement.com/the-americas/14112017/argos-reports-cement-volumes-up-across-the-board/
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