Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Colombia's Grupo Argos posts Q4 profit after year-ago loss

Published 02/23/2022, 04:38 PM
Updated 02/23/2022, 06:11 PM
© Reuters. FILE PHOTO: The logo of Grupo Argos is seen in Medellin, Colombia June 25, 2019. Picture taken June 25, 2019. REUTERS/Luis Jaime Acosta

By Nelson Bocanegra

BOGOTA (Reuters) -Colombian industrial conglomerate Grupo Argos on Wednesday reported a 248 billion peso ($63 million) quarterly net profit, reversing a 12 billion peso net loss in the year-ago period.

Consolidated revenue for the company - made up of Cementos Argos, energy producer Celsia and road and airport concession company Odinsa - jumped 24% to 4.4 trillion pesos, while EBITDA climbed 17% to 923 billion pesos.

For the full year, net profit soared eightfold to 1.2 trillion pesos ($305 million), boosted by record sales figures in its cement and energy businesses.

The company said it is considering the distribution of a dividend of 500 pesos per share to its shareholders, up 30% from the one announced the year before, amid the strong 2021 results.

The conglomerate reported annual revenue rose 16.6% to 16.3 trillion pesos.

Annual EBITDA increased 29.2% to 4.3 trillion pesos.

Grupo Argos announced in December that it would list Cementos Argos' U.S. assets on the New York Stock Exchange in the second half.

The conglomerate will also consolidate its investments in road and airport concessions and energy and real estate rentals into a single vehicle, with an eye to another potential NYSE listing.

(1 dollar = 3,932.40 Colombian pesos)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.