1Q23 Results
May 9th, 2023
Disclaimer
This document contains forward-looking statements and information related to Cementos Argos S.A. and its subsidiaries (together referred to as "Argos") that are based on the knowledge of current facts, expectations and projections, circumstances and assumptions of future events.
Various factors may cause Argos' actual future results, performance or accomplishments to differ from those expressed or assumed herein.
If an unexpected situation presents itself or if any of the premises or of the company's estimations turn out to be incorrect, future results may differ significantly from the ones that are mentioned herein.
The forward-looking statements are made to date and Argos does not assume any obligation to update said statements in the future as a result of new information, future events or any other factors.
All the discussions on the financial and operational results held during the call, will be based on the adjusted figures, excluding non- recurring and non-core operations. For a detail on the reconciliation and the adjustments please refer to the annexes of our quarterly report.
01
Consolidated Results
1Q23 | Highest recorded EBITDA in our history for a first quarter marks a margin |
expansion of 386 basis points | |
COP 3.4 | Tn | COP 597 | Bn | |
REVENUE | EBITDA | |||
+35.2% YoY | +70.8% YoY |
1.8 mn m3 | 3.9mn T | |
RMX VOLUME | ||
CEMENT VOLUME | ||
-2.3% YoY | ||
-0.6% YoY |
Volumes - Adjusted | QUARTER | YTD | ||||||
2022.Q1 | 2023.Q1 | Var | 2022.Q1 | 2023.Q1 | Var | |||
Cement | 000 TM | 3,949 | 3,925 | -0.6% | 3,949 | 3,925 | -0.6% | |
RMC | 000 M | 3 | 1,798 | 1,756 | -2.3% | 1,798 | 1,756 | -2.3% |
Key Figures - Adjusted | QUARTER | YTD | ||||||
2022.Q1 | 2023.Q1 | Var | 2022.Q1 | 2023.Q1 | Var | |||
Revenue | COP Bn | 2,501 | 3,382 | 35.2% | 2,501 | 3,382 | 35.2% | |
EBITDA | COP Bn | 350 | 597 | 70.8% | 350 | 597 | 70.8% | |
Margin EBITDA | % | 14.0% | 17.7% | 368 pbs | 14.0% | 17.7% | 368 pbs | |
Owners of the parent co. Adjusted | COP Bn | -4 | 102 | 2,236% | -4 | 102 | 2,236% | |
Net Income | COP Bn | 12 | 118 | 898.6% | 12 | 118 | 898.6% | |
Net Margin | % | 0.5% | 3.5% | 302 pbs | 0.5% | 3.5% | 302 pbs |
See annex for the adjustment's reconciliation
Stable market dynamics through | Successful pricing strategy, and | Important SPRINT milestones | ||
our regions | cost efficiencies | achieved | ||
Sprint Efforts to effectively carry out the comprehensive plan continued during the
Update
quarter reaching important milestones
Our pillars
1 | Focus on strong financial and operational results |
with a special emphasis in profitability | |
Increase dividend payments to shareholders for a
- total of COP 445 billion in 2023, +15% vs 2022
-
~ COP 250 billion share-buy-back program
Continue the work on listing our US business in the - NYSE
Improve the liquidity of our common stock by - designating a local market maker
Our Progress
As a result of our commercial efforts in each region + our
careful cost control initiatives EBITDA margin expanded 368 basis points
Dividends for COP 128 billion were paid during April. We
reaffirm our commitmentwith our shareholders to
execute the additional dividend payment for COP 317 billion and the share buyback program before our 2024 General Shareholders Meeting.
We continue to be ready to launch the transaction once market conditions are appropriate
Once again, our common shares are eligible for repo operationas a result of better liquidity conditions of
our stock