Grupo Argos S.a. · BVC:GRUPOARGOS
Grupo Argos — Q2 2015 Earnings Presentation
28 slides from Grupo Argos's earnings presentation, 2015
Slide 1: 2Q2015 Results Presentation
2Q2015 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 BRC S&P confirmed New credit lines AAA credit rating with 48,9% stake in were approved negative outlook Odinsa 14% cement and 4% Positive results from the 17% growth in bulk and An asset contribution ready mix concrete operations in Central general cargo volumes schedule
Slide 4: Consolidated Results
Consolidated Results 2Q Jan. - Jun. Billion COP$ 2015 2014 Var. (%) 2015 2014 Var. (%) Revenues 2.848 2.549 12 5.468 4.800 14 Costs & SG&A 2.288 1.973 16 4.479 3.608 24 Operating Profit 560 576 -3 989 1.192 -17 EBITDA 763 744 3 1.414 1.506 -6 EBITDA Margin (%) 26,8 29,2 25,9 31,4 Million US$ Revenue
Slide 5: Consolidated Results
Consolidated Results Revenues EBITDA EBITDA margin (%) COP$ Billion COP$ Billion 6.000 5.468 1.600 1.506 -16% +14% 1.414 5.000 4.800 27 1.200 726 2Q 4.000 2.848 763 25 2.549 3.000 800 2.000 28 2.621 400 780 1Q 2.251 651 1.000 35 0 0 2014 2015 2014 2015 0 10 20 30 40 1Q 2Q 1Q 2Q 2Q 1Q 5
Slide 6: Consolidated Results - Revenues
Consolidated Results- Revenues + 174 +6 - 13 -6 - 36 + 722 -56 5.468 - 122 4.800 Revenues June Cement Energy Coal Real Estate Corporative Divestment Dividends Equity Method Revenues June 2014 2015 6
Slide 7: Consolidated Results - EBITDA
Consolidated Results - EBITDA + 162 +3 +3 1.506 -2 + 56 + 145 - 1 1.414 + 122 EBITDA June Cement Energy Coal Real Estate Corporative Divestment Dividends Equity Method EBITDA June 2014 2015 7
Slide 8: Consolidated Results – Net Income
Consolidated Results – Net Income + 25 573 +2 + 71 - 123 -2 - 74 - 56 293 - 122 Net Income June Cement Energy Coal Ports Real Estate Corporative Divestment Dividends Net Income June 2014 2015 8
Slide 9: Business Results
Business Results Adjustments Consolidated Operating Revenues 3.479.059 1.555.716 30.130 78.080 270.171 18.766 36.290 5.468.212 Gross Profit 778.638 351.390 26.096 30.122 228.096 5.844 87.388 1.507.573 Gross Margin 22,4% 22,6% 86,6% 38,6% 84,4% 31,1% 27,6% Operating Profit 405.743 275.783 262 20.487
Slide 10: Consolidated Balance Sheet June 2015
Consolidated Balance Sheet June 2015 June 2015 Assets Short Term COP$ billion 15,2 11% 14% Permanent 35,2 Investments 20,0 27% PP&E 48% Assets Liab. & Equity Other Long Term Assets Equity Liabilities December 2014 Liabilities Financial Oblig. Short Term COP$ billion 14,1 14% 13% Other Short Term 34,
Slide 11: Cement Business
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Slide 12: Highlights
Highlights Colombia Regional Division reported a Cement dispatches at the USA 10% increase in cement volumes vs. Regional Division registered a 12% 5.6% market average increase vs. 2Q2014 12
Slide 13: Jan – June Volumes
Jan – June Volumes Cement Cement sales + 278 6.843 + 339 Colombia 22% + 366 - 158 Caribbean & 43% CA 5% Export 6.018 +14% USA - 30% Southeast +14% +20% -33% +22% 2014 Colombia Caribbean & CA Export USA - 2015 Southeast Ready mix concrete Concrete sales + 407 Colombia 5.462 27% 31% + 148 Caribbean &
Slide 14: Financial Results
Financial Results Revenues EBITDA EBITDA margin (%) COP$ Billion COP$ Billion 4.000 678 3.479 +26% 600 +31% 20 3.000 2.758 517 2015 1.826 371 18,6 400 256 2.000 1.453 18 1.000 200 2014 1.653 307 1.305 261 20 0 0 2014 2015 2014 2015 0 10 20 1Q 2Q 1Q 2Q 2Q 1Q 14
Slide 15: Energy Business
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Slide 16: Highlights
Highlights The assets in Panamá and Costa Rica increased its energy generation by 6% when compared with 2014 16
Slide 17: Jan. – Jun. Volumes Gx and Dx
Jan. – Jun.Volumes Gx and Dx Generated Energy in GWh + 854 3.961 3.432 + 254 + 426 - 153 -45% +7% -22% +15% 2014 Celsia Zona Franca EPSA Central America 2015 Celsia Energy end-user sales in GWh Generation by technology type + 71 1.012 2% Hydro 47% Termo 52% Wind 941 +8% 2014 EPSA 2015 17
Slide 18: Financial Results
Financial Results Revenues EBITDA EBITDA margin (%) COP$ Billion COP$ Billion 1.600 1.556 600 572 +13% 1.381 -28% 26 2015 1.200 765 414 400 339 27 804 201 800 200 42 400 791 2014 577 233 213 40 0 0 2014 2015 2014 2015 0 20 40 1Q 2Q 1Q 2Q 2Q 1Q 18
Slide 19: Real Estate Business
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Slide 20: Highlights
Highlights Real Estate Fund Land Development Definition of the rules for asset 3 lots were sold in Barranquilla during contribution to the Grupo Argos – the quarter, totaling 11.845 m2 Conconcreto Real Estate Fund 20
Slide 21: Financial Results
Financial Results Revenues EBITDA EBITDA margin (%) COP$ Billion COP$ Billion 50 11 0,5 44,2 -39% 0,9 8 40 -32% 56 15 5 10 2015 30,1 8 -75 30 2 18 20 -1 2014 2015 29 51 -4 2014 10 -9 -7 -25 13 -7 0 2014 2015 -10 -100 -50 0 50 100 1Q 2Q 1Q 2Q 2Q 1Q 21
Slide 22: Ports Business
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Slide 23: Highlights
Highlights Bulk cargo volumes increased 13% Constructions works at the new when compared to the 2014 figures Aguadulce Port in Buenaventura continue as expected 23
Slide 24: Financial Results
Financial Results Revenues EBITDA EBITDA margin (%) COP$ Billion COP$ Billion 80 78 30 29 +28% 61 25 35 +55% 2Q 60 39 14 20 18 38 30 40 15 9 10 29 20 39 15 1Q 31 5 10 31 0 0 2014 2015 2014 2015 0 20 40 1Q 2Q 1Q 2Q 2Q 1Q 24
Slide 25: Operational Results
Operational Results Containers throughput # of containers Imp & Exp Bulk – General cargo in tons 10.000 49.040 +4% 8.842 2.100 +9% 1.973 50.000 8.539 -36% 1.807 8.000 1.800 40.000 23.732 1.500 31.330 4.202 4.806 1.036 6.000 885 30.000 1.200 15.676 20.000 4.000 900 25.308 600 10.000 2.000 4.337 4.036
Slide 26: Debt Profile
Debt Profile COP 1,6 trillion (USD 640 million) Convertible bonds* 750 500 250 538 0 2015 Cost of debt (%)** *In billion COP, equivalent to USD 226 million **Excludes BOCEAS 26
Slide 27: Portfolio
Portfolio June 2014 June 2015 Food Ports Food Conces iones 6% 2% 5% 5% Fi nancial Servi ces 26% Fi nancial Servi ces Cement Cement 27% 38% 34% COP$21,9 COP$19,0 Billion Billion Coa l 2% Coa l 2% Rea l Estate Energy Rea l Estate Energy 13% 12% 16% 12% -13% *The value of each investment for the compan
Slide 28: Thanks
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