At the end of September, Cementos Argos combined saw a double-digit growth in terms of its revenues, EBITDA and net profit. These figures were driven by recovery in the US, improvements in market dynamics in Colombia and the implementation of its operational efficiency programmes across all of its regional divisions.
During 3Q15, consolidated cement shipments saw a 15% increase, reaching 3.8 million t. The 10.7 million t sold this year so far are up 14% compared with the first nine months of 2014. The concrete business also had good results, particularly in the Colombian and US Regional Divisions, with an increase of 7% in terms of shipped volumes for the quarter, compared to the same period in 2014. This marks a year-to-date increase of 5%, with shipments of almost 9 million m3 of concrete.
“Cementos Argos is a company that has based its strategy on geographic diversification, a strong business model and the efficient use of its assets — all factors that have been crucial in obtaining these results. We also foresee positive performance in our industry towards the end of this year,” says Jorge Mario Velásquez, CEO of Cementos Argos.
Adapted from press release by Rebecca Bowden
Read the article online at: https://www.worldcement.com/the-americas/25112015/cementos-argos-results-63/