The consolidated results of Grupo Argos demonstrated the operating strength of the organization and the positive performance of all its businesses during 2021. Revenues amounted to 16.3 billion COP, up 17%, While the amount of interest, taxes, depreciation and amortization amounted to $ 4.3 trillion, an increase of 29% year-on-year, and a net profit of $ 1.2 trillion, which is an increase of 683% compared to the end of the previous year.
(Grupo Argos does not accept the takeover offer of Sura and Nutresa.)
Cementos Argos has the highest adjusted profit in the company’s history $2.2 trillion and an adjusted EBITDA margin of 21%, the highest since 2005, the year the US expansion began.
The volume of cement sales during 2021 exceeded 17 million tons, which is the highest level recorded by the organization. The company’s financial performance has allowed it to reduce its leverage to an index of 2.9 times net debt compared to earnings before interest, tax, depreciation and amortization, which, combined with cash generation forecastsallowed Fitch Ratings to upgrade its long-term debt rating outlook recently from neutral to positive.
In the infrastructure business, Celsia’s company, Grupo Argos Energy, reported historic EBITDA of $1.4 trillion, with growth of 11% year over year. During 2021, the company made progress in establishing itself as a leader in structuring renewable energy generation projectsThat represents about an additional 1,000 megawatts coming into operation in the next four years, which is added to the El Tesorito plant, representing a growth of nearly 70% in the current installed capacity.
Odinsa, the road and airport franchise of Grupo Argos, generated EBITDA of $700,000 excluding one-time operations, with a positive variance of 76% year-over-year. On the roads, daily passenger traffic grew by 42% during the year and closed at 43 million vehicles. At airports, El Dorado carried 3 million passengers in December 2021, marking the start of 2022 with traffic levels close to those recorded before the pandemic.