Sun. Feb 23rd, 2020

The Argos group increases its net income by 16% during the first half of 2019

The Colombian group Argos recorded a 16% increase in net income during the first half of this year compared to the same period of 2018, reaching 265,000 million pesos (about 77.6 million dollars), reported Tuesday the company.

"We are pleased to communicate to the market some positive results that are the product of a deliberate and conscious strategic discipline, executed by a talented human team in all our businesses, these results are due to them," said Grupo Argos president Jorge Mario Velásquez. , cited in a company statement.

The group, giant of the infrastructure sector, also ended with green numbers in consolidated revenues between January and June 2019, reaching 7.6 billion pesos (about 2,227 million dollars).

This figure represents an increase of 9% over the same period last year, the information added.

Velásquez added that several "milestones" that will have a positive impact in the long term materialized in the first half of the year, such as the incorporation of transmission and distribution assets in the Celsia energy subsidiary for about 2 billion pesos (about 585.9 millions of dollars).

"Adding the different issues, placements and credits of the companies of the Argos Business Group in the first semester, we reached 5.3 billion pesos (about 1,552 million dollars), which makes us an active and dynamic agent of the market of Colombian capitals, "said the executive.

To this list are added the financial optimization operations in the concessions business, which included bond issues for about 2.5 billion pesos (about 732.5 million dollars).

Meanwhile, the first half profit before interest, taxes, depreciation and amortization (Ebitda) was 2.1 billion pesos (about 615.3 million dollars), which represents an increase of 12%.

The Argos Group is a conglomerate with investments in the areas of cement (Argos), energy (Celsia), ports (Compas), road and airport concessions (Odinsa) and real estate and urban development (Pactia).

. (tagsToTranslate) Argos (t) increases (t) utility (t) first (t) semester

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