Grupo Argos S.a. · BVC:GRUPOARGOS
Grupo Argos — Q3 2015 Earnings Presentation
31 slides from Grupo Argos's earnings presentation, 2015
Slide 1: 3Q2015 Results Presentation
3Q2015 Results Presentation 1
Slide 2: Disclaimer
DISCLAIMER This document contains forward-looking statements relating to GRUPO ARGOS and its subsidiaries based upon management projections. These projections reflect GRUPO ARGOS’ opinion on future events that may be subject to a number of risks, uncertainties and assumptions. Various factors may ca
Slide 3: Highlights
Highlights Acquisition of a Divestment of a Fitch confirmed AA+ controling stake in 5.3% stake in rating with stable Odinsa (54.8%) Cementos Argos outlook 15% cement and 7% ready Results were negatively APM Terminals and 88% of the assets mix concrete increase in affected by El Niño and fuel Compas
Slide 4: Consolidated Results
Consolidated Results 3Q Jan. - Sep. Billion COP$ 2015 2014 Var. (%) 2015 2014 Var. (%) Revenues 3.213 2.232 44 8.681 7.032 23 Costs & SG&A 2.762 1.913 44 7.241 5.521 31 Operating Profit 451 319 41 1.440 1.511 -5 EBITDA 678 456 49 2.091 1.961 7 EBITDA Margin (%) 21,1 20,4 24,1 27,9 Million US$ Revenu
Slide 5: Consolidated Results
Consolidated Results Revenues EBITDA EBITDA margin (%) COP$ Billion COP$ Billion 9.000 8.681 2.091 +7% +23% 2.000 1.961 7.032 678 21 3.213 456 2015 27 6.000 1.500 2.232 25 726 1.000 763 2.848 2.549 3.000 20 500 2014 28 780 2.621 651 2.251 35 0 0 2014 2015 2014 2015 0 10 20 30 40 1Q 2Q 3Q 1Q 2Q 3Q 3Q
Slide 6: Consolidated Results - Revenues
Consolidated Results- Revenues + 424 + 20 + 27 8.681 + 1.490 -9 - 117 - 57 - 129 7.032 Revenues Cement Energy Coal Real Estate Corporative Divestment Dividends Equity Method Revenues September 2014 September 2015 6
Slide 7: Consolidated Results - EBITDA
Consolidated Results - EBITDA + 372 + 56 +6 +6 +1 - 57 - 125 2.091 - 129 1.961 EBITDA Cement Energy Coal Real Estate Corporative Divestment Dividends Equity Method EBITDA September September 2014 2015 7
Slide 8: Consolidated Results – Net Income
Consolidated Results – Net Income + 57 679 +6 +6 + 56 - 160 - 81 - 57 376 - 129 Net Income Cement Energy Coal Real Estate Corporative Divestment Dividends Equity Method Net Income September 2014 September 2015 8
Slide 9: Business Results
Business Results Elim. Consolidated Operating Revenues 5.746.772 2.352.514 77.241 115.630 1.248.693 40.222 -900.292 (1) 8.680.780 Gross Profit 1.313.495 471.250 55.563 44.535 892.768 12.503 -511.402 (1) 2.278.711 Gross Margin 22,9% 20,0% 71,9% 38,5% 71,5% 31,1% 26,3% Operating Profit 690.788 359.622
Slide 10: Consolidated Balance Sheet Sep. 2015
Consolidated Balance Sheet Sep. 2015 September 2015 Assets Short Term COP$ billion 13% 14% 17,8 Permanent Investments 40,1 23% 22,3 PP&E 50% Assets Liab. & Equity Other Long Term Assets Equity Liabilities December 2014 Liabilities Financial Oblig. Short Term COP$ billion 14,1 15% 16% Other Short Ter
Slide 11: Non-Consolidated Results
Non-Consolidated Results 3Q Jan. - Sep. Billion COP$ 2015 2014 Var. (%) 2015 2014 Var. (%) Revenues 695 118 491 992 562 76 Costs & SG&A 364 86 324 461 304 52 Operating Profit 0 0 937 1 0 105 EBITDA 333 32 936 533 259 106 EBITDA Margin (%) 48 27 54 46 Million US$ Revenues 231 62 274 347 291 19 Costs
Slide 12: Non-Consolidated Balance Sheet Sep. 2015
Non-Consolidated Balance Sheet Sep. 2015 September 2015 Assets Short Term COP$ billion 2,1 0% 5% 14% Permanent 16,5 Investments 14,3 PP&E Assets Liab. & Equity 81% Other Long Term Assets Equity Liabilities December 2014 Liabilities Financial Oblig. Short Term 1,4 8% 6% COP$ billion Other Short Term
Slide 13: Cement Business
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Slide 14: Highlights
Highlights Colombia Regional Division reported a Increased participation in the import 14% increase in cement volumes vs. market in the US through the Houston 7.5% market average and Mobile terminals 14
Slide 15: Jan – Sep Volumes
Jan – Sep Volumes Cement Cement sales + 429 10.686 + 483 Colombia + 567 23% - 87 Caribbean & 43% CA 9.294 6% Export +15% USA - +14% +19% -13% +21% 28% Southeast 2014 Colombia Caribbean & CA Export USA - 2015 Southeast Ready mix concrete Concrete sales + 207 8.685 Colombia + 446 27% + 142 32% Caribbe
Slide 16: Financial Results
Financial Results Revenues EBITDA EBITDA margin (%) COP$ Billion COP$ Billion 6.000 5.747 1.200 1.110 +35% +41% 19 4.258 2.268 432 784 2015 20 4.000 800 1.500 18,6 268 1.826 371 2.000 1.453 400 18 256 2014 18 1.653 307 20 1.305 261 0 0 2014 2015 2014 2015 0 10 20 1Q 2Q 3Q 1Q 2Q 3Q 3Q 2Q 1Q 16
Slide 17: Energy Business
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Slide 18: Highlights
Highlights El Niño, fuel prices and variable Cucuana hydro plant (55 MW) started market conditions negatively affected commercial operations the results 18
Slide 19: Jan. – Sep. Volumes Gx and Dx
Jan. – Sep.Volumes Gx and Dx Generated Energy in GWh + 1.226 5.379 4.724 + 102 - 145 - 528 -45% +7% -22% +14% 2014 Celsia Zona Franca EPSA Central America 2015 Celsia Energy end-user sales in GWh Generation by technology type + 94 1.539 4% Hydro 45% Termo 1.445 51% Wind +7% 2014 EPSA 2015 19
Slide 20: Financial Results
Financial Results Revenues EBITDA EBITDA margin (%) COP$ Billion COP$ Billion 800 750 2.500 2.353 +22% 178 -25% 19 2.000 1.928 797 600 566 2015 26 561 152 1.500 27 400 339 765 1.000 790 201 32 200 2014 42 500 791 233 577 213 40 0 0 2014 2015 2014 2015 0 20 40 1Q 2Q 3Q 1Q 2Q 3Q 3Q 2Q 1Q * The differe
Slide 21: Real Estate Business
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Slide 22: Highlights
Highlights Pactia Land Development 88% of the assets have been Situm reported record sales during the transferred to Pactia (Trust) quarter, 62,300 mts2 were sold 22
Slide 23: Operations
Operations Accumulated revenues Real Estate business 12% Land development Rental Progress of the assets properties transfer to the new Trust 88% Stake of the Pactia Trust Accumulated (%) Advancement of the assets transfer process Month Conconcreto Grupo Argos 12% August 96% 4% September 71% 29% Pend
Slide 24: Financial Results
Financial Results Revenues EBITDA EBITDA margin (%) COP$ Billion COP$ Billion 25 80 77,2 13,1 20 +171% 27 +50% 60 13 15 2015 56 51,4 47 4,8 7 -75 10 4 40 15 5 10 8 55 20 18 - 2014 51 29 2014 2015 -5 -9 -25 13 -7 0 2014 2015 -10 -100 -50 0 50 100 1Q 2Q 3Q 1Q 2Q 3Q 3Q 2Q 1Q 24
Slide 25: Ports Business
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Slide 26: Highlights
Highlights APM Terminals and Compas signed a Buenaventura terminal reported a 56% JV to jointly operate and manage the increase in bulk cargo Cartagena terminal 26
Slide 27: Operational Results
Operational Results Containers throughput # of containers Imp & Exp Bulk – General cargo in tons 3.000 80.000 +7% 2.689 71.964 15.000 +4% 13.416 -31% 12.947 2.512 716 60.000 22.924 704 49.824 4.408 4.574 2.000 10.000 40.000 18.494 1.036 23.732 885 4.202 4.806 15.676 5.000 1.000 20.000 25.308 938 15.
Slide 28: Financial Results
Financial Results Revenues EBITDA EBITDA margin (%) COP$ Billion COP$ Billion 120 116 45 43 +28% 91 38 39 15 90 +61% 2015 35 30 30 27 38 60 39 8 14 30 15 29 9 30 2014 29 39 15 31 31 10 0 0 2014 2015 2014 2015 0 20 40 1Q 2Q 3Q 1Q 2Q 3Q 3Q 2Q 1Q 28
Slide 29: Debt Profile
Debt Profile COP 1,68 trillion (USD 562 million) Convertible bonds 600 * Final balance 400 519,305 550 million BOCEAS 200 390 108 254 Equivalent to 0 103 132 115 24,407,335 2016 2017 2019 2020 2024 2029 preferred shares Synthetic Credit LT Credit Ordinary Bond Cost of debt (%)** 7,50% 7,45% 7,47% 7,
Slide 30: Portfolio
Portfolio September 2014 September 2015 Food Ports Food Concessions 6% 2% 5% 8% Financial Financial Cement Services Services 35% 27% Cement 28% 32% COP$21,3 COP$18,6 Billion Billion Coal Coal 2% 2% Energy Energy Real Estate 13% Real Estate 14% 16% 9% -13% *The value of each investment for the compan
Slide 31: Thanks
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