Q3 2024 Grupo Argos SA Earnings Call Transcript
Key Points
- Grupo Argos SA (BOG:GRUPOARGOS) reported a significant increase in its investment portfolio, appreciating close to COP3 trillion, reaching COP19.3 trillion.
- The company achieved a 39% growth in EBITDA, reaching COP4.5 trillion, compared to the same period in the previous year.
- Grupo Argos SA's share repurchase program has led to a substantial increase in share prices, with ordinary shares rising by 112% and preferential shares by 108%.
- Cementos Argos achieved an EBITDA margin of 22%, reflecting a 130 basis point increase from the previous year.
- Celsia inaugurated Colombia's first solar energy storage system, enhancing its energy transition efforts and increasing solar energy generation by 45% year-to-date.
- Grupo Argos SA's consolidated revenues remained stable at COP1.5 trillion, showing no growth compared to the previous year.
- Celsia experienced a 17% drop in consolidated EBITDA due to lower energy generation caused by adverse weather conditions.
- The urban development business faced a decline due to adjustments in the reasonable value of land lots, resulting in a provision close to COP96 billion.
- Cementos Argos saw a reduction in cement and concrete dispatches by 9% and 8%, respectively, due to decreased activity in the residential segment.
- Grupo Argos SA's net debt increased to COP1.2 trillion, primarily due to cash disbursements for the joint OPA for Grupo Nutresa shares.
Good morning to you all. I want to thank you for your presence today. This conference will be focused on presenting the financial results from Grupo Argos, for the close of the third quarter 2024. In this state, we have geared Jorge Mario Velásquez, President; Alejandro Piedrahita, Vice President of Grupo Argos; Rafael Olivella, Vice President of Corporate Matters for Grupo Argos; Mauricio Ossa, President of Odinsa; Maria Clara Aristizabal, Manager of the Urban Development business; Pablo Arroyave, Vice President of Corporate Finance for Odinsa; and Andres Bejarano, President of Pactia.
I want to remind you all that in our website, we've placed all the information for the quarter, together with the presentation that we will be following during this teleconference. To download it, you can go in menu, Financial Information. Afterwards go to the section Reports. We're also transmitting this conference through a space of X.
We want to invite you to move on to slide number 3 of the presentation, so we could
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