Cementos Argos has released its results for the first quarter and first half of 2013, revealing positive performances in its principle operating regions – the USA, Colombia and the Caribbean.
Total EBITDA for the second quarter of the year increased by 32% y/y, while consolidated income for the period grew by 14% y/y. In April – June 2013, Cementos Argos sold 2.8 million t of cement, up 1.8% y/y, and 2.4 million m3 of concrete, an increase of 9.3% y/y.
In the US, an improvement in cement and concrete prices in addition to growing commercial demand helped EBITDA to rise by 65% y/y to US$5.6 million. Revenue reached US$190 million, up 9% y/y. In Colombia, EBITDA also increased, growing by 18% y/y, while revenue rose by 12% y/y. A dynamic market in the Caribbean helped revenue to increase by more than 50% y/y to US$30 million, with revenue up 18% y/y to US$122 million during the period.
In the first half of the year, total EBITDA increased by 25% y/y, spurred by cost improvements and growth in the industrial sector. Compared to 1H12, consolidated income rose by 9% to COP2.3 billion.
Adapted from press release by Louise Fordham.
Read the article online at: https://www.worldcement.com/the-americas/24072013/cementos_argos_results_2q_1h_2013_us_colombia_caribbean_65/