Grupo Argos S.a. · BVC:GRUPOARGOS
Grupo Argos — Q4 2013 Earnings Presentation
31 slides from Grupo Argos's earnings presentation, 2014
Slide 1: Grupo Argos
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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
Highlight Part of the Dow Jones Recurrent net income Revenues Sustainability Index 14% growth increase 237 +95% 122 18% Ebitda growth Ut.neta recurente 2012 Ut.neta recurrente 2013 Record in Ebitda, 5% Outstanding resuts, energy Investments consolidation Mayorca shooping cement and 10% ready generat
Slide 4: Consolidated Results
Consolidated Results 4Q Jan. - Dec. Thousand million COP$ 2013 2012 Var. (%) 2013 2012 Var. (%) Revenues 1.984 1.703 17 7.629 6.681 14 Costs & SG&A 1.721 1.521 13 6.282 5.593 12 Operating Profit 263 182 45 1.348 1.088 24 EBITDA 428 323 32 1.907 1.616 18 EBITDA Margin (%) 21,6 19,0 25,0 24,2 Million
Slide 5: Consolidated Results - Revenues
Consolidated Results- Revenues + 357 + 18 + 13 + 10 + 13 7.629 -2 - 49 + 588 6.681 Revenues Cement Energy Coal Ports Real Estate Corporative Divestment Dividends Revenues December 2012 December 2013 5
Slide 6: Consolidated Results - Ebitda
Consolidated Results - Ebitda + 137 +2 +3 +6 1.907 + 13 + 190 - 11 - 47 1.616 EBITDA Cement Energy Coal Ports Real Estate Corporative Divestment Dividends EBITDA December 2012 December 2013 6
Slide 7: Consolidated Results – Net Income
Consolidated Results – Net Income Net Income Comparable net income 344 + 39 + 15 344 295 + 74 -5 + 13 -3 - 47 122 - 136 -168 -54 Net Income Argos Grupo Argos Recurring Net December 2012 Extraordinary Extraordinary Income 2012 profit profit Net Income Cement Energy Coal Ports Real Estate Corporative
Slide 8: Business Results - Proforma
Business Results - Proforma Million COP$ Cement Var. Energy Var. Others* Var. Holding Var. Elimination Consolidated Var. Revenues 4.968.414 13% 2.381.116 18% 212.469 28% 458.980 -19% (391.620) 7.629.359 14% Gross Income 1.108.003 22% 840.951 18% 61.074 81% 409.847 -21% (327.061) 2.092.814 18% Gross
Slide 9: Consolidated Balance Sheet Dec. 2013
Consolidated Balance Sheet Dec. 2013 December Assets 30,0 25,0 6,7 Short Term COP$ Billion 20,0 11% 12% 15,0 8,2 27,4 Permanent 10,0 Investments 12,4 26% 5,0 PP&E 0,0 51% Assets Liab. & Equity Other Long Term Asstes Equity Liabilities Minority Interest September Liabilities 30,0 Financial Oblig. 25,
Slide 10: Individual Results
Individual Results 4Q Jan. - Dec. Jan. - Dec. Normalized Thousand million COP$ 2013 2012 Var. (%) 2013 2012 Var. (%) 2013 2012 Var. (%) Revenues 137 44 212 517 602 (14) 460 374 23 Costs & SG&A 36 85 (58) 160 168 (5) 160 162 (1) Operating Profit 102 -41 (348) 357 434 (18) 300 212 41 EBITDA 102 -40 (3
Slide 11: Individual Balance Sheet Dec. 2013
Individual Balance Sheet Dec. 2013 December Assets 18,0 16,0 1,8 2% Short Term 14,0 15% COP$ Billion 12,0 10,0 8,0 Permanent 15,5 Investments 6,0 13,7 4,0 2,0 83% PP&E 0,0 Assets Liab. & Equity Assets Equity Liabilities September Liabilities 18,0 16,0 Financial Oblig. 1,8 Short Term 14,0 12,0 21% Ot
Slide 12: Cement
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Slide 13: Jan – Dec. Volumes
Ene – Dec. Volumes Cement Sales Distribution + 196 11.276 Colombia 16% + 98 Caribbean + 218 12% and CA 45% 10.824 + 60 Export 27% USA - Southeast +1% +8% +8% +12% +5% YTD 2012 Colombia Caribbean and Export USA - YTD 2013 CA Southeast Ready - mix concrete Sales Distribution 9.369 + 207 + 74 Colombia
Slide 14: Financial Results
Financial Results Revenues EBITDA EBITDA Margin (%) Thousand Million COP$ Thousand Million COP$ +13% 4.968 1.000 978 4.800 +24% 4.380 18 1.307 +19% +25% 791 233 4.000 20 1.101 800 2013 20 187 3.200 21 1.325 +17% 600 269 +20% 1.132 2.400 225 400 17 1.241 +14% 244 +32% 1.600 1.092 20 185 2012 200 17 8
Slide 15: Energy
Termo Plant Meriléctrica - Santander 15
Slide 16: Jan. – Dec. Volumes Gx y Dx
Jan. – Dec. Volumes Gx y Dx Generated Energy in GWh + 930 + 20 6.170 5.038 + 181 +56% +60% +1% +22% 2012 Celsia Zona Franca Celsia EPSA 2013 Distributed Energy in GWh Generation Type Jan - Dec 1.983 + 167 2.150 43% Hidro 57% Termo +8% 2012 EPSA 2013 16
Slide 17: Financial Results
Financial Results Revenues EBITDA EBITDA Margin (%) Thousand Million COP$ Thousand Million COP$ 2.800 1.000 +18% +18% 2.381 865 34 2.400 800 37 2.024 731 627 213 +33% 2013 2.000 +18% 39 160 531 600 36 1.600 212 +15% 577 +11% 184 1.200 522 400 30 589 +30% 228 +32% 800 173 35 451 2012 200 38 400 520 5
Slide 18: Real Estate
Cluster San José School 18
Slide 19: Highlights
Highlights Project Portal del Genovés Property Business Miramar Project- Barranquilla The project is located in Puerto Colombia, Acquisition of commercial stores and with total area of 5 hectares. offices in Mayorca shopping center in Medellin Colombia Potential construction of 543 residentia
Slide 20: Financial Results
Financial Results Revenues* Revenues EBITDA* EBITDA EBITDA Margin (%)* Thousand Million COP$ Thousand Million COP$ 72,0 23,5 17,9 63 64,0 +94% -4 56,0 +57% 16 55 2013 48,0 41 40,5 14,0 9,2 18 -75 40,0 32,0 33 12 34 24,0 35 4,5 -289 16,0 2012 3,9 -65 0,9 8,0 9,4 1 -0,7 27 1,0 4,6 2012 2013 3,4 -3,4 0
Slide 21: Port Business
Negocio Portuario 21
Slide 22: Highlights
Highlights Tolú Port Facility Barranquilla Port Facility Strategic clients for Tolú and Aguadulce Boarding operations of crude oil began (Buenaventura) reaching the proposed 120,000 tons in the quater. Completion of the construction of Tolú three specialized tech facility for handling bulk car
Slide 23: Financial Results
Financial Results Revenues EBITDA EBITDA Margin (%) Thousand Million COP$ Thousand Million COP$ 0% 32 103 103 29 -6% 27 2 27 90 23 29 24% 23 24 2013 8 304% 9 24 27 -5% 30 60 26 16 6 -36% 10 8 29 -12% 25 6 -40% 33 30 8 2012 35 -6% 25 24 8 7 31 -3% 0 0 2012 2013 2012 2013 0 10 20 30 40 4Q 3Q 2Q 1Q 1Q
Slide 24: Cargo Vessels
Cargo Vessels # Containers Moved # Containers Imp and Exp. Bulk –General Cargo # Tons -8% 25.000 23.592 3.600 +16% 120.000 113.122 -20% 3.230 103.629 20.000 6.157 18.824 3.000 2.786 30.647 807 17% 90.000 28.276 -8% 4.966 -19% 2.400 690 15.000 6.106 26.373 732 -4% 60.000 24.219 -8% 4.489 -26% 1.800 7
Slide 25: Coal
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Slide 26: Highlights
Highlights The company has recorded a positive performance in the sales of coal from underground mining. 26
Slide 27: Financial Results
Financial Results Revenues EBITDA EBITDA Margin (%) Thousand Million COP$ Thousand Million COP$ 80 77,9 1 13% 1 69,2 0 0 2012 2013 -8 16 -2 2013 60 38 -5 -4 -38 +140% -53 17 -5 40 17 +5% -5 -52 20 -8 -8 -24 20 2012 14 -30% -1 -4 -11 17 -47% 6 9 -11,5 0 2012 2013 -14 -11,9 -60 -40 -20 0 20 1Q 2Q 3Q 4
Slide 28: Grupo Argos – Debt Profile at December 2013
Grupo Argos – Debt Profile at December 2013 $COP 770 Thousand Million Conv. Bonds – Equity 2015 750 200 500 182 694 100 200 250 145 100 62 64 0 0 18 2015 jan-14 feb-14 mar-14 sep-14 2015 2018 2020 Convertible Bonds Bank Loans Consolidated Cost of Debt (%) COP vs USD 8,0% 7,0% 7,5% 6,0% 6,5% 5,5% 6,0
Slide 29: Portfolio Investment
Portfolio Investment Strategic Investment * Portfolio Investments Grupo Argos Investments* Food Ports Coal 6% 2% Ports 3% Grupo Nutresa 3% 19% Bancolombia Financial Cement Real Estate 5% 35% Services 23% Grupo Sura (P) Cement 5% 27% 53% Grupo Sura 72% Energy Coal 19% 2% Energy Real Estate 12% 15% $1
Slide 30: Individual Cash Flow
Individual Cash Flow Cash Flow at Dec. 2012 554.261 EBITDA + 359.703 Working Capital Var. - 37.801 Taxes - 8.218 CAPEX - 80.813 Net Dividends + 70.310 Net Financial Expenses - 65.037 Net Other Not - Operational + 101.206 Net Op. Financial Obligations - 413.456 Accounting Adjustment - 387.852 Cash Fl
Slide 31: Contact
www.grupoargos.com Ricardo Sierra Nicolás Valencia CFO Investor Relations rsierra@grupoargos.com Tel.: (574) 319.87.12 Medellín, Colombia nvalenciap@grupoargos.com Medellín, Colombia 31