Grupo Argos S.a. · BVC:GRUPOARGOS
Grupo Argos — Q4 2024 Earnings Presentation
30 slides from Grupo Argos's earnings presentation, February 2025
Slide 1: Results Presentation Fourth Quarter 2024
Results Presentation Fourth Quarter 2024 February 2025 1 Febrero 2025
Slide 2: Disclaimer
Resultados Primer Trimestre del 2019 QUARTERLY RESULTS PRESENTATION Disclaimer This presentation contains certain forward-looking representations and information related to GRUPO ARGOS and its subordinate companies based on currently known facts, expectations and forecasts, circumstances, and assump
Slide 3: Progress with the Spin-Off Project to continue focusing on our vision for the future
GRUPO ARGOS RESULTS 4Q2024 Progress with the Spin-Off Project to continue focusing on our vision for the future Results of the operation1 1 Crossholdings between Grupo Argos (both directly and throughCementos) and Grupo Sura are eliminated via simultaneous spin-offs by absorption 2 Grupo Argos Share
Slide 4: Following steps for the Spin-Off Project: Corporate Governance Roadmap
GRUPO ARGOS RESULTS 4Q2024 Following steps for the Spin-Off Project: Corporate Governance Roadmap for the operation Spin-Off Project Publication General Shareholders' Spin-Off Project Signing Meetings 2024 2025-2026 October 25 1Q25 2025-2026* 4Q24 2Q25 Signing of an MOU between Grupo SURA and Reques
Slide 5: Grupo Argos will evolve to become 100% specialized in infrastructure assets
GRUPO ARGOS RESULTS 4Q2024 Grupo Argos will evolve to become 100% specialized in infrastructure assets Investment Portfolio1 Investment Portfolio1 Spotlight on Infrastructure (4Q2023) (December 2024) (Future) Sura; $ 6.7 CemArgos; $ Nutresa; 7.3 $ 2.0 COP CemArgos; Grupo Argos Expands its COP $ 4.3
Slide 6: Cementos Argos closes sale of 31% of Summit Materials
GRUPO ARGOS RESULTS 4Q2024 On February 10, Cementos Argos announced the definitive closing of the sale of 31% of Summit Materials $2.9 BN Monetization of Cementos Argos’ 31% in Summit Materials Strategic Rationale EV/EBITDA ✓ Exit Multiple fully recognizes our perceived value regarding this investme
Slide 7: Grupo Argos' share price grew 60%, while COLCAP grew 15% between 2023 and 2024
GRUPO ARGOS RESULTS 4Q2024 Grupo Argos' share price grew 60%, while COLCAP grew 15% between 2023 and 2024 Price per share variation (last 12 months) Px/sh 31/12/2024 20,500 15,420 10,380 3,685 Px/sh 31/12/2023 12,420 8,460 6,110 2,960 82% 70% 66% 24% Grupo Argos (Ord) Grupo Argos (Pf) CemArgos (Ord)
Slide 8: Accumulated consolidated EBITDA grows +28% YOY
GRUPO ARGOS RESULTS 4Q2024 Accumulated consolidated EBITDA grows +28% YOY Net income controlling Revenue EBITDA Net Income interest Figures in COP tn Figures in COP tn Figures in COP bn Figures in COP bn +32% -0% +28% +14% +13% +424% +396% 4.5 7.6 15.2 15.1 5.1 4.0 1.5 0.9 Dec23 2T2023 Dec24 2T2024
Slide 9: Separated Cumulative Net Income reaches COP 2.5 trillion
GRUPO ARGOS RESULTS 4Q2024 Separated Cumulative Net Income reaches COP 2.5 trillion Revenue EBITDA Net Income Figures in COP tn Figures in COP tn Figures in COP tn +148% +32% +241% +14% +13% +221% 3.5 3.2 2.5 1.4 0.9 0.8 2T2023 2T2024 2T2023 2T2024 2T2023 2T2024 Dec23 Dec24 Dec23 Dec24 Dec23 Dec24 9
Slide 10: Operating Results – Grupo Argos Businesses
Operating Results – Grupo Argos Businesses Cement Infra Portfolio 10 Febrero 2025
Slide 11: CemArgos: 2024, a key year for shareholder value generation
GRUPO ARGOS RESULTS 4Q2024 CemArgos: 2024, a key year for shareholder value generation Cement Infra Portfolio The divestment in Summit Materials = realization of Argos USA’s value thesis • The company received close to USD 4.5 billion for this platform. In 2024, the company prioritized operational e
Slide 12: CemArgos: EBITDA Margin reaches 21% cumulative for the year
GRUPO ARGOS RESULTS 4Q2024 CemArgos: EBIDTA Margin reaches 21% cumulative for the year Cement Infra Portfolio Operational Revenue COP bn EBITDA COP bn Cemento RMC 4,000 2,000 4Q2024 vs 4Q2023 +6% 4Q2024 vs 4Q2023 -6% (YOY) (YOY) 1,800 311 3,500 1,600 1,311 1,344 1,336 1,308 291 1,240 270 -8% 265 3,0
Slide 13: Celsia: Recovery after the El Niño phenomenon
GRUPO ARGOS RESULTS 4Q2024 Celsia: Recovery after the El Niño phenomenon Cement Infra Portfolio Consolidated revenue grew 9% during 2024 • This performance reflects the strength of the assets of our energy business, proving its ability to provide reliability to the electrical grid during critical we
Slide 14: Celsia: Platform EBITDA in line with 2023 contribution
GRUPO ARGOS RESULTS 4Q2024 Celsia: Platform EBITDA reached COP 130 billion, in line with the contribution for 2023 Cement Infra Portfolio Operational Revenue COP bn EBITDA COP bn Generación Comercialización -19%* 4Q2024 vs 4Q2023 -+27% 4Q2024 vs 4Q2023 (YOY) Platform EBITDA* 2,000 2,000 -14% +138 1,
Slide 15: Odinsa: positive airport dynamics and start of second stage for Túnel de Oriente
GRUPO ARGOS RESULTS 4Q2024 Odinsa: positive airport dynamics and start of the second stage for Túnel de Oriente Cement Infra Portfolio El Dorado Airport as the main hub for LatAm • 47 mm PAX moved through it in 2024, concentrating 70% of the country's passenger traffic Average Daily Traffic was 108
Slide 16: Odinsa: ADT grow 6% YOY
GRUPO ARGOS RESULTS 4Q2024 Odinsa: ADT grow 6% YOY Cement Infra Portfolio Quarterly Results IRR (E) 6% +13% -5% -2% 116 369 152 56 55 11% 110 145 328 22% 4Q2023 4Q2024 4Q2023 4Q2024 4Q2023 4Q2024 4Q2023 4Q2024 15% ADT (thousands) Ingresos (COP k mm) EBITDA (COP k mm) Ut. Neta (COP k mm) ADT (thousan
Slide 17: Odinsa: airport traffic grows 12% YOY
GRUPO ARGOS RESULTS 4Q2024 Odinsa: airport traffic grows 12% YOY Cement Infra Portfolio Quarterly Results (in USD) IRR (E) -1% -12% -1% +6% 21 21 13 14 71 169 168 62 18% 4Q2023 4Q2024 4Q2023 4Q2024 4Q2023 4Q2024 4Q2023 4Q2024 PAX (mm) Ingresos (USD mm) Ut. Neta (USD mm) EBITDA (USD mm) 10% PAX (mm)
Slide 18: Pactia: EBITDA reduction resulting from divestments
GRUPO ARGOS RESULTS 4Q2024 Pactia: EBITDA reduction resulting from divestments Cement Infra Portfolio Operational Revenue COP bn EBITDA COP bn GLA 4Q2024 vs 4Q2023 -19% 4Q2024 vs 4Q2024 -44% (YOY) (YOY) 1,400 121 125 119 67 67 1,200 116 65 1,000 60 95 811 GLA ('000) 800 707 600 34 400 200 0 4T 2023
Slide 19: Real Estate Business: Net cash flow for 2024 is COP 61 billion
GRUPO ARGOS RESULTS 4Q2024 Real Estate Business: Net cash flow for 2024 is COP 61 billion Cement Infra Portfolio Real Estate Business Cash flow1 Dec-2024 Dec-2023 Var (%) Revenue 205 259 -21% Net cash flow 61 105 -41% • Payment plans with higher installments as of Dec-23 • Payment of the Pavas prope
Slide 20: Consolidated and separated financial results
PRESENTACIÓN DE RESULTADOS TRIMESTRALES Consolidated and separated financial results 20 Mayo 2024
Slide 21: EBITDA grows 28% compared to 2023
GRUPO ARGOS RESULTS 4Q2024 EBITDA grows 28% compared to 2023 Resumen P&G Resultados Trimestre Resultados Acumulados Año COP mil mn 4Q - 2024 4Q - 2023 Var.(%) dic-24 dic-23 Var.(%) Ingresos 3.623 3.934 -8% 15.156 15.193 0% Costos, gastos y otros ingresos 3.250 3.413 -5% 10.934 12.073 -9% Ut. Operaci
Slide 22: Grupo Argos sound equity structure supported by a AAA rating
GRUPO ARGOS RESULTS 4Q2024 Grupo Argos sound equity structure supported by a AAA rating Gross Debt Consolidated COP bn Consolidated Net Debt1 COP bn Net financial expenses COP bn 13,581 375 12,027 10 4 328 1,613 663 11,167 220 383 9,096 44 1,716 178 5 4,883 300 5,578 1,241 151 -18% 5,514 -24% 5,160
Slide 23: Separated Net Income reaches COP 2.5 trillion
GRUPO ARGOS RESULTS 4Q2024 Separated Net Income reaches COP 2.5 trillion in 2023 Summary P&L Quarterly Results Cumulative Results YTD COP bn 4Q - 2024 4Q - 2023 Var.(%) Dec-24 Dec-23 Var.(%) Revenue Costs and other expenditures 127 113 173 117 -27% -3% 3,536 125 1,427 314 148% -60% COP 3.6 tn Revenu
Slide 24: COP 77 billion in financial returns covers 71% of financial expenses
GRUPO ARGOS RESULTS 4Q2024 COP 77 billion in financial returns covers 71% of financial expenses Cash flow Notes COP million COP million 1. Div. received: 784,1122. Div. Paid: 530,458 1 Dividendos netos 253,654 2. 432,403 due to takeover bid compliance. Ingresos NDU 205,066 118,940 from sale of share
Slide 25: The cost of Grupo Argos' separate debt stands at 8.0%
GRUPO ARGOS RESULTS 4Q2024 The cost of Grupo Argos' separate debt stands at 8.0% Indebtedness1 COP bn Maturity profile (capital) COP bn Cost of debt and half-life COP bn Net Debt = 1.3 tn (+94% YOY) 0% 22% 28% 9% 28% 0% 12% 15.5% 12% 16.6% 16.3% 5.0 36% 25% of guaranteed maturities term 15.7% 14.7%
Slide 26: S&P and Fitch confirmed Grupo Argos's AAA rating post Spin-Off Agreement
GRUPO ARGOS RESULTS 4Q2024 S&P and Fitch confirmed Grupo Argos’s AAA rating post Spin-Off Agreement AAA AAA 1 1 Stable Stable January 2025 January 2025 "Grupo Argos Ratings are Stable in the face of the Spin-Off Agreement "We do not expect changes in the organization's credit profile with Grupo Sura
Slide 27: We continue to make progress with Sustainability
Titulo o nombre de la presentación espacio largo GRUPO ARGOS RESULTS 4Q2024 We continue to make progress with Sustainability CLIMATE CHANGE RESULTS On February 11, we were included in the S&P Sustainability Yearbook, as a result of our performance on that firm’s annual Corporate Sustainability Asses
Slide 28: Annexes
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Slide 29: www.grupoargos.com
PRESENTACIÓN DE RESULTADOS TRIMESTRALES CEO CFO Jorge Mario Velasquez Alejandro Piedrahita Chief Officer for Corporate and Presidential Affairs IR Director Juan Esteban Mejia Carolina Arango (574) 315 8400 (574) 315 8400 jemejia@grupoargos.com carangoz@grupoargos.com www.grupoargos.com 31 Mayo 2024
Slide 30: Febrero 2025
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