Grupo Argos S.a. · BVC:GRUPOARGOS

Grupo Argos — Q2 2024 Earnings Presentation

31 slides from Grupo Argos's earnings presentation, August 2024

  1. Slide 1: Results Presentation Second Quarter 2024

    Results Presentation Second Quarter 2024 August 2024 1 Agosto 2024

  2. 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

  3. Slide 3: Operations under the Framework Agreement to divest Grupo Nutresa stake completed

    GRUPO ARGOS RESULTS 2Q2024 Operations under the Framework Agreement to divest Grupo Argos’s stake in Grupo Nutresa were completed Compliance with the takeover bid for Grupo Argos will receive 13.7 million Grupo Nutresa shares (to carry out treasury shares and economic rights to an December the secon

  4. Slide 4: Evolution of Grupo Argos's Portfolio after the Grupo Nutresa Share Swap

    GRUPO ARGOS RESULTS 2Q2024 Evolution of Grupo Argos’s Portfolio after the Grupo Nutresa Share Swap Investment Portfolio1 Investment Portfolio1 Spotlight on Infrastructure (2Q2023) (August 2024) SP will liquidate and distribute its shares in GS and GA SP $ 0,5 ▪ Value Disclosure: Over the last year,

  5. Slide 5: The corporate group's market cap grew over the last 12 months

    GRUPO ARGOS RESULTS 2Q2024 The corporate group’s market cap grew by COP 13 tn over the last 12 months Price per share variation (last 12 months) Px/acc 12/08/2024 8.460 11.660 16.860 4.130 Px/acc 12/08/2023 3.411 6.290 9.680 2.585 148% Average= +92% 85% 74% 60% CemArgos (Ord) Grupo Argos (Pf) Grupo

  6. Slide 6: Consolidated EBITDA grows 41% YOY

    GRUPO ARGOS RESULTS 2Q2024 Consolidated EBITDA grows 41% YOY Net inc. controlling Revenue EBITDA Net Income interest Figures in COP tn Figures in COP tn Figures in COP bn Figures in COP bn +32% 0,5% +14% +41% +13% +566% +454% 4,0 6,8 8,2 8,2 3,4 2,4 1,0 0,7 Jun23 2T2023 Jun24 2T2024 2T2021 Jun23 2T2

  7. Slide 7: Separated Net Income reaches COP 2.7 trillion

    GRUPO ARGOS RESULTS 2Q2024 Separated Net Income reaches COP 2.7 trillion Revenue EBITDA Net Income Figures in COP bn Figures in COP bn Figures in COP bn +224% +32% +305% +14% +13% +281% 3,2 2,7 3,1 0,98 0,8 0,7 2T2023 2T2024 2T2023 2T2024 2T2023 2T2024 Jun23 Jun24 Jun23 Jun24 Jun23 Jun24 7 Agosto 20

  8. Slide 8: Not all assets in our Portfolio are consolidated line by line

    Not all assets in our Portfolio1 are consolidated line by line in the Consolidated Financial Statements Cement Energy Concessions Real Estate Portfolio 31% of Urban Argos Energy Asset Roadway Airport • SP Summit Pactia Development Grupo Sura COL & CCA Services Management Concessions2 Concessions • O

  9. Slide 9: Relevant changes in Consolidated Financial Statements from 2023 to 2024

    Relevant changes in Grupo Argos' Consolidated Financial Statements from 2023 to 2024 *Only the Green Corridor 2023 2024 concession (Aruba) consolidates line by line Equity method Summit Materials (formerly Argos USA) Consolidation - Reclassification in the ERI Argos LatAm Consolidation Consolidation

  10. Slide 10: Financial Position by Business - Revenue

    GRUPO ARGOS RESULTS 2Q2024 Financial Position by Business - Revenue 2Q24 2Q23 Variation Revenue Non-recurring considerations and impacts COP mil mm COP mil mm % $ Grupo Argos Consolidated 3.685 4.421 -17% -736 Cementos Argos 1.341 1.356 -1% -15 Result for 2023 excludes Argos USA, MPP profit from Sum

  11. Slide 11: Financial Position by Business - EBITDA

    GRUPO ARGOS RESULTS 2Q2024 Financial Position by Business - EBITDA 2Q24 2Q23 Variation EBITDA Non-recurring considerations and impacts COP mil mm COP mil mm % $ Grupo Argos Consolidated 993 1.138 -13% -145 Cementos Argos 267 252 6% 14 Result for 2023 excludes Argos USA, MPP profit from Summit includ

  12. Slide 12: Financial Position by Business – Net Income

    GRUPO ARGOS RESULTS 2Q2024 Financial Position by Business – Net Income 2T24 2T23 Variation Net Income Non-recurring considerations and impacts COP mil mm COP mil mm % $ Grupo Argos Consolidated 337 458 -27% -122 Cementos Argos 100 129 -23% -29 Result for 2023 excludes Argos USA, MPP profit from Summ

  13. Slide 13: Operating Results – Grupo Argos Businesses

    Operating Results – Grupo Argos Businesses Cement Infra Portfolio 13 Agosto 2024

  14. Slide 14: CemArgos: deleveraging and focus on profitability

    GRUPO ARGOS RESULTS 2Q2024 CemArgos: deleveraging and focus on profitability Cement Infra Portfolio Summit Materials integration is progressing well. • Summit is on track to generate an expected USD 40 million in synergies during the year • The company has maintained its EBITDA guidance of between U

  15. Slide 15: CemArgos: EBITDA Margin reaches 22%

    GRUPO ARGOS RESULTS 2Q2024 CemArgos: EBIDTA Margin reaches 22% Cement Infra Portfolio Operational Revenue COP bn EBITDA COP bn 2Q2024 vs 2Q2023 -1% 2Q2024 vs 2Q2023 +5% (A/A) (A/A) Cemento RMC 4.000 2.000 1.360 1.317 1.311 1.344 291 1.800 2% 1.240 3.500 270 265 252 1.600 3.000 2.438 2.456 2.490 209

  16. Slide 16: Celsia: Recovery after the El Niño phenomenon

    GRUPO ARGOS RESULTS 2Q2024 Celsia: Recovery after the El Niño phenomenon Cement Infra Portfolio Recovery compared to the first quarter, due to the El Niño phenomenon. • Celsia increased its hydropower generation during the second quarter of 2024 by 19% compared to the same period the previous year.

  17. Slide 17: Celsia: Platform EBITDA is stable compared to the previous period

    GRUPO ARGOS RESULTS 2Q2024 Celsia: Platform EBITDA is stable compared to the previous period Cement Infra Portfolio Operational Revenue COP bn EBITDA COP bn 2Q2024 vs 2Q2023 +22% 2Q2024 vs 2Q2023 1%* Generación Comercialización (YOY) (YOY) Platform EBITDA* 2.000 2.000 1.800 -+9% 1.800 +88 +109 1.433

  18. Slide 18: Odinsa: good airport traffic dynamics continue

    GRUPO ARGOS RESULTS 2Q2024 Odinsa: good airport traffic dynamics continue Cement Infra Portfolio 50 million passengers mobilized by the airports platform over the last 12 months • El Dorado Airport is operating at full capacity. Average Daily Traffic on roadways is stable YOY • Cumulative Average da

  19. Slide 19: Odinsa: ADT and EBITDA remain stable year-over-year

    GRUPO ARGOS RESULTS 2Q2024 Odinsa: ADT and EBITDA remain stable year-over-year Cement Infra Portfolio Quarterly Results IRR (E) 1% +19% +8% +61% 345 48 11% 102 103 157 145 30 290 22% 2Q2023 2Q2024 2Q2023 2Q2024 2Q2023 2Q2024 2Q2023 2Q2024 15% TPD (miles) Ingresos (COP k mm) EBITDA (COP k mm) Ut. Net

  20. Slide 20: Odinsa: airport traffic grows 20% YOY

    GRUPO ARGOS RESULTS 2Q2024 Odinsa: airport traffic grows 20% YOY Cement Infra Portfolio Quarterly Results (in USD) IRR (E) +18% +9% +13% +37% 13 75 164 30 150 66 11 22 18% 2Q2023 2Q2024 2Q2023 2Q2024 2Q2023 2Q2024 2Q2023 2Q2024 PAX (mm) Ingresos (USD mm) EBITDA (USD mm) Ut. Neta (USD mm) 11% PAX (mm

  21. Slide 21: Pactia: EBITDA grows 10% with stable GLA

    GRUPO ARGOS RESULTS 2Q2024 Pactia: EBITDA grows 10% with stable GLA Cement Infra Portfolio Operational Revenue COP bn EBITDA COP bn GLA 2Q2024 vs 2Q2023 +10% 2Q2024 vs 2Q2024 +10% (YOY) (YOY) 1.400 121 119 113 116 67 1.200 111 65 59 60 60 1.000 811 GLA ('000) 800 600 400 200 0 2T 2023 3T 2023 4T 202

  22. Slide 22: Real Estate Business: Net cash flow reduced by 13%

    GRUPO ARGOS RESULTS 2Q2024 Real Estate Business: Net cash flow reduced by 13% as part of the market’s deceleration Cement Infra Portfolio Real Estate Business Cash flow Jun-2024 Jun-2023 Var (%) Revenue 93 111 -17% Net cash flow 31 35 -13% • Ends the quarter with a net cash flow of COP 7 billion. P&

  23. Slide 23: Consolidated and separated financial results

    PRESENTACIÓN DE RESULTADOS TRIMESTRALES Consolidated and separated financial results 23 Mayo 2024

  24. Slide 24: EBITDA grows 41% compared to the second quarter of the previous year

    GRUPO ARGOS RESULTS 2Q2024 EBITDA grows 41% compared to the second quarter of the previous year Summary P&L Quarterly Results Cumulative Results YTD COP bn 2Q - 2024 2Q - 2023 Var.(%) Jun-24 Jun-23 Var.(%) Revenue 3,685 4,421 -17% 8,223 8,185 0% Costs, expenses, and other revenue 2,907 3,500 -17% 5,

  25. Slide 25: Grupo Argos sound equity structure supported by a AAA rating

    GRUPO ARGOS RESULTS 2Q2024 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 14.584 445 12.147 42 392 1.725 12.248 923 15 567 42 8.680 3 0 284 5.444 5.658 1.335 215 179 174 5.258 -16% -29% 4.944 5.8

  26. Slide 26: Separated net income reaches COP 2.7 trillion

    GRUPO ARGOS RESULTS 2Q2024 Separated net income reaches COP 2.7 trillion Summary P&L Quarterly Results Cumulative Results YTD COP bn Revenue 2Q - 2024 218 2Q - 2023 555 Var.(%) -61% Jun-24 3,191 Jun-23 984 Var.(%) 224% COP 3.2 tn Costs and other expenditures 19 114 -83% -14 140 -110% Revenue grows 2

  27. Slide 27: COP 77 billion in financial returns covers 71% of financial expenses

    GRUPO ARGOS RESULTS 2Q2024 COP 77 billion in financial returns covers 71% of financial expenses Cash flow Notes COP million COP million 1 Dividendos netos 26.503 1. Div. received: 295,161. Div. Paid: 260,653 2. 432,403 due to takeover bid compliance. Ingresos NDU 92.971 120,781 from sale of share in

  28. Slide 28: The cost of Grupo Argos' separate debt stands at 8.9%

    GRUPO ARGOS RESULTS 2Q2024 The cost of Grupo Argos' separate debt stands at 8.9% Indebtedness1 COP bn Maturity profile (capital) COP bn Cost of debt and half-life COP bn Net Debt = 1.3 tn (+42% YOY) 0% 2% 30% 27% 0% 29% 0% 12% 15,5% 5,3 16,3% 5,2 5,0 16,6% 15,7% 4,5 14,7% 15% 13,5% 4,3 4,3 414 11,4%

  29. Slide 29: S&P and Fitch confirmed Grupo Argos's AAA rating

    GRUPO ARGOS RESULTS 2Q2024 S&P and Fitch confirmed Grupo Argos’s AAA rating AAA AAA 1 1 Stable Stable May 2024 May 2024 ▪ Robustness supported by the company’s strategic transformation ▪ Grupo Argos maintains a sound business position after last into an infrastructure vehicle after the divestment of

  30. Slide 30: Contact

    PRESENTACIÓN DE RESULTADOS TRIMESTRALES CEO CFO Jorge Mario Velasquez Alejandro Piedrahita Chief Officerfor Corporate and Presidential Affairs IR Director Juan Esteban Mejia Carolina Arango (574) 315 8400 315 8400 jemejia@grupoargos.com carangoz@grupoargos.com wwwˌgrupoargosˌcom 30 Mayo 2024

  31. Slide 31: Grupo Argos - Inversiones que transforman

    31 rN — GRUPO ARGOS Inversiones que transforman rN {GRUPO ARGOS Inversiones que transforman

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