Grupo Argos S.a. · BVC:GRUPOARGOS
Grupo Argos — Q4 2014 Earnings Presentation
34 slides from Grupo Argos's earnings presentation, 2015
Slide 1: 4Q2014 Results Presentation
4Q2014 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 17% Revenues growth 9% Ebitda growth 29% Net Profit growth 8% cement and 18% Closed the acquisition of Began construction works Strategic alliance ready mix concrete assets in Panamá and Costa on its Aguadulce port with Conconcreto increase in volumes Rica 3
Slide 4: Consolidated Results
Consolidated Results 4Q Jan. - Dec. Jan. - Dec. Normalized Billion COP$ 2014 2013 Var. (%) 2014 2013 Var. (%) 2014 2013 Var. (%) Revenues 2.277 1.984 15 8.920 7.629 17 8.662 7.572 14 Costs & SG&A 2.007 1.721 17 7.403 6.282 18 7.182 6.233 15 Operating Profit 270 263 3 1.517 1.347 13 1.480 1.339 11 EB
Slide 5: Financial Results
Financial Results Revenues EBITDA EBITDA margin (%) COP$ Billion COP$ Billion 10.000 2.200 +9% +17% 8.920 2.072 9.000 2.000 1.907 18 8.000 7.629 1.800 403 2.277 22 428 7.000 1.600 2014 1.984 26 1.400 468 6.000 2.159 28 1.200 498 5.000 1.981 1.000 4.000 626 22 2.441 800 3.000 464 1.882 600 25 2013 2.
Slide 6: Consolidated Results - Revenues
Consolidated Results- Renevues 8.920 + 200 +4 + 208 + 14 + 12 + 14 +5 + 834 7.629 Revenues Cement Energy Coal Ports Real Estate Corporative Divestment Dividends Revenues September 2013 September 2014 6
Slide 7: Consolidated Results - EBITDA
Consolidated Results - EBITDA + 35 +4 2.072 +3 + 13 +6 + 26 - 1 + 79 1.907 EBITDA Cement Energy Coal Ports Real Estate Corporative Divestment Dividends EBITDA December 2013 December 2014 7
Slide 8: Consolidated Results – Net Income
Consolidated Results – Net Income + 35 +4 381 + 114 + 40 - 20 295 +5 +3 - 94 Net Income Cement Energy Coal Ports Real Estate Corporative Divestment Dividends Net Income December 2013 December 2014 8
Slide 9: Business Results
Business Results Million COP$ Cement Var. Energy Var. Real Estate Var. Ports Var. Others Var. Holdings Var. Elimination Consolidated Var. Revenues 4.253 16% 1.928 10% 51 9% 45 22% 66 35% 584 72% -285 6.643 18% Gross Income 987 20% 734 15% 38 11% 13 54% 7 384% 370 27% -234 1.915 20% Gross Margin 23,2
Slide 10: Consolidated Balance Sheet
Consolidated Balance Sheet Sep.2014 December 2014 Assets 40,0 Short Term COP$ billion 35,0 30,0 7,0 11% 12% 25,0 Permanent 20,0 13,1 Investments 15,0 33,9 24% 10,0 PP&E 5,0 13,8 53% 0,0 Assets Liab. & Equity Other Long Term Assets Equity Liabilities Minority Interest December 2013 Liabilities 30,0 F
Slide 11: Non-Consolidated Results
Non-Consolidated Results 4Q Jan. - Dec. Jan. - Dec. Normalized Billion COP$ 2014 2013 Var. (%) 2014 2013 Var. (%) 2014 2013 Var. (%) Revenues 62 137 -55 694 517 34 467 396 18 Costs & SG&A 40 36 11 354 160 121 139 111 25 Operating Profit 22 101 -78 340 357 -5 328 285 15 EBITDA 25 102 -75 348 360 -3 3
Slide 12: Non-Consolidated Balance Sheet
Non-Consolidated Balance Sheet Dec.2014 December 2014 Assets 18,0 16,0 1,8 COP$ billion 3% Short Term 14,0 14% 12,0 10,0 8,0 16,8 Permanent 15,1 Investments 6,0 4,0 2,0 83% PP&E 0,0 Assets Liab. & Equity Assets Equity Liabilities December 2013 Liabilities 18,0 16,0 Financial Oblig. 14,0 1,8 0% 0%13%
Slide 13: Cement Business
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Slide 14: Highlights
Highlights Atlanta Hawks stadium The last quarter of the year, the organization reported 51% growth in cement shipments compared to the same period in 2013. 14
Slide 15: Jan – Dec Volumes
Jan – Dec Volumes Cement Cement sales + 1.017 12.481 Colombia 23% + 193 Caribbean & + 151 44% CA 11.524 7% Export - 404 USA - +3% +6% -31% +57% 26% Southeast 2013 Colombia Caribbean & CA Export USA - 2014 Southeast Ready mix concrete Concrete sales Colombia 11.051 + 269 + 1.405 30% 31% Caribbean & C
Slide 16: Financial Results
Financial Results Revenues EBITDA EBITDA margin (%) COP$ Billion COP$ Billion +8% 1.060 6.000 +17% 5.803 1.000 978 +8% 255 16 4.968 5.000 1.550 233 18 800 2014 1.307 19 4.000 272 20 1.490 600 269 3.000 1.325 400 272 18 2.000 1.468 244 1.241 20 2013 200 20 1.000 1.295 232 261 21 1.095 0 0 2013 2014 2
Slide 17: Energy Business
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Slide 18: Highlights
Highlights On December 2nd, Celsia closed the acquisition of energy assets is Panama and Costa Rica. 18
Slide 19: Jan. – Dec. Volumes Gx and Dx
Jan. – Dec.Volumes Gx and Dx Generated Energy in GWh + 141 6.437 + 78 + 51 6.170 +10% +3% +4% +4% YTD 2013 Celsia Zona Franca Celsia EPSA YTD 2014 Energy end-user sales in GWh Generation by technology type + 105 1.926 44% Hydro 56% Termo 1.821 +6% +6% YTD 2013 EPSA YTD 2014 19
Slide 20: Financial Results
Financial Results Revenues EBITDA EBITDA margin (%) COP$ Billion COP$ Billion 2.800 1.000 +9% 2.589 +3% 894 2.381 900 865 2.400 23 661 800 152 213 31 627 2.000 700 2014 175 43 567 600 1.600 40 577 212 500 1.200 400 336 784 34 589 228 800 300 37 2013 200 39 400 589 577 100 211 231 36 0 0 2013 2014 20
Slide 21: Real Estate Business
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Slide 22: Highlights
Highlights In December 2014, Grupo Argos reached an agreement with Conconcreto to jointly develop their property rental strategy, through the contribution of certain assets that enable the composition of a portfolio focused on development and operation. Shared Principles Why Premises - Organizationa
Slide 23: Highlights: Current and 4-year target
Highlights Breakdown by Type of Property Breakdown by Geography 3% 2% Bogotá 20% 25% Madrid 17% Girardota Comerce Palmira 3% 40% Industry Tenjo 4% Offices Sabaneta 4% Villavicencio Self Storage 4% Itagui Hotels 20% Soledad 4% 38% Neiva 5% Others 5% 6% Current 4-year target GLA: 437,863 GLA: 700,000
Slide 24: Financial Results
Financial Results Revenues EBITDA EBITDA margin (%) COP$ Billion COP$ Billion 80 25 +10% 69,9 17,9 70 22 14 63,5 19 8 60 19 -5% 17,0 2014 16 16 64 3 50 1 7 14 13 18 40 15 10 10 30 33 -4 7 54 20 4 2013 29 41 4 4 10 1 9 -75 5 -2 2013 2014 0 -1 -3 -100 -50 0 50 100 2013 2014 -5 4Q 3Q 2Q 1Q 1Q 2Q 3Q 4Q
Slide 25: Ports Business
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Slide 26: Highlights
Highlights During the last quarter, the Company completed th 21 kilometer road to the new Aguadulce terminal in Buenaventura and began construction works on- site. Works are expected to be completed by 2016. 26
Slide 27: Financial Results
Financial Results Revenues EBITDA EBITDA margin (%) COP$ Billion COP$ Billion 128 40 39 +24% 120 36 35 +46% 103 37 13 23 30 2014 27 30 90 29 25 32 30 8 7 20 60 26 6 27 15 9 30 23 25 2013 30 10 8 30 31 5 10 23 24 6 0 0 2013 2014 2013 2014 0 10 20 30 4Q 3Q 2Q 1Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 27
Slide 28: Operational Results
Operational Results Containers throughput # of containers Imp & Exp Bulk – General cargo in tons -8% +3% 103.629 20.000 18.824 -6% 3.500 3.230 3.342 105.000 95.527 17.767 3.000 830 90.000 28.276 16.000 4.966 807 23.563 4.820 2.500 75.000 12.000 704 24.219 4.489 2.000 732 60.000 22.924 4.408 45.000 8
Slide 29: Coal Business
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Slide 30: Highlights
Highlights Underground mining divestment • Continuing to execute its strategic plan, in December Sator closed the deal to sell its Amagá operation to a local player. • This transaction marks the end of the underground mining divestment process. Production 700 650 600 550 500 450 2012 2013 2014 Produ
Slide 31: Financial Results
Financial Results Revenues EBITDA EBITDA margin (%) COP$ billion COP$ billion +6% 2013 2014 82,8 80 77,9 5 2,8 7 70 2 35 2 7 2014 60 38 1 0 -1 0 -1 50 -4 -5 40 16 -4 17 0 30 16 -7 -8 -5 20 2013 14 -38 -10 10 -1 -53 16 9 0 0 -13 -11,5 2013 2014 -60 -40 -20 0 20 1Q 2Q 3Q 4Q 4Q 3Q 2Q 1Q 1Q 2Q 3Q 4Q 31
Slide 32: Debt Profile
Debt Profile COP 1,000 Billion (USD 420 million) Convertible bonds* $ 450 $ 400 390 $ 350 $ 300 254 $ 250 $ 200 132 539 $ 150 108 115 $ 100 $ 50 $0 2016 2017 2019 2024 2029 2015 Cost of debt (%)** *In billion COP, equivalent to USD 226 million **Includes BOCEAS 32
Slide 33: Portfolio
Portfolio December 2013 Decembre 2014 Food Ports Food Ports 6% 2% 6% 2% Financial Cement Financial Cement Services 35% Services 34% 27% 29% COP$19,4 COP$20,7 Billion Billion Coal 2% Coal 2% Energy Energy Real Estate 12% Real Estate 12% 15% 14% +6,7% *The value of each investment for the companies th
Slide 34: Thanks
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