The 2015 figures released by Cementos Argos are still showing growth in revenue, EBITDA and net profit, and showcase the company’s strategic coherence defined more than a decade ago, a strategy that has been applied to the business in the various regions where it operates. The company closed 2015 with a 40 percent growth in revenue, a 57 percent growth in EBITDA and an 81 percent growth in net profit.
Dynamics in the U.S., Colombian and a few other Central American and Caribbean markets drove the favored results. The U.S. market accounted for 43 percent of total company revenues. EBITDA in the regional market grew 62 percent, reaching $110 million.
The company continues to strengthen its production levels in the U.S. and its logistics network, which allowed a 20 percent increase in cement shipments since 2014, reaching a total of 3.4 million tons.
The company’s Colombian market set a new record, shipping more than 6 million tons of cement, a figure that tops the total country cement sales 10 years ago.
With a total investment of $125 million, the expansion of the Rioclaro plant, located in the Antioquia department of Colombia, increased installed capacity to nearly 900,000 tpy. The plant’s renovation gives the company a competitive advantage to meet the foreseeable demand brought in by the government’s planned infrastructure projects.
The increase in the Honduran market’s dynamism was underpinned by a positive growth in the construction-related GDP and public procurement. In Panama, the company will take part in major infrastructure projects planned for 2016, such as the second Panama City Metro Line, the Rodman Port expansion and the Tocumen Airport expansion, among others, all of which will help maintain the positive dynamics of the industry.
"The record-setting results obtained in 2015 are the results of well-planned coherent work during the last decade aimed at transforming a local company into a multinational player devoted to the cement and concrete business, a player that has been able to compete successfully in a dynamic market and a changing economic environment, generating value for its investors, its partners and for the countries where it operates. We want to express our gratitude to the more than 10,000 partners in 14 countries, to our shareholders, providers and clients,” said Jorge Mario Velásquez, CEO of Cementos Argos.