Cementos Argos continued to have a positive balance during the first three months of 2016. The results are based on a strategy that emphasizes growth with geographic diversification and operational efficiency, with sustainability and innovation as its foundation.
In a consolidated manner, the organization obtained revenues of $678 million, 34 percent more than the amount reported for the same period of the previous year. It reached an EBITDA of $130 million, 38 percent more than the first quarter of 2015, and generated $31 million in net income, which is 27 percent more than in the first quarter of 2015.
In the United States, there was positive performance after its EBITDA was increased by 140 percent and reached $34 million. Furthermore, revenues totaled $335 million, 27 percent more than in the first months of 2015. The improved dynamics of the economy, coupled with the growth of residential construction rates and a favorable climate during the quarter, have enabled the reactivation of important projects that speak to the recovery of the U.S. market.
For its part, Colombia obtained revenues of $204 million between January and March 2016, which represents an increase of 1.2 percent, and EBITDA increased by 6.8 percent. The company finalized the implementation of improvements derived from its expansion of the Rioclaro Plant, turning it into one of the most modern and efficient in the country, and also successfully issued bonds in the local market.
The infrastructure development plan, which includes the Fourth Generation (4G) of the Road Concessions Program, as well as Colombia’s housing construction projects, represent opportunities for the company based on the significant demand for materials that will be required for its execution and which is estimated to begin taking hold during the second quarter of the year.
The Caribbean and Central America region reported an increase of 3.7 percent in its revenues and of 11 percent in its EBITDA, reaching $139 million and $49 million, respectively.
In Panama, a market where the company is a leader, there are infrastructure developments forecast for the near-, mid- and long-term. The allocation of resources for the construction of important projects, such as the third line of the Metro, is a sign of the country's commitment to the execution of major infrastructure works in the long term.
“The obtained results indicate that we will have good performance throughout the year, and confirm that our geographic diversification, the expansion and consolidation of our business lines, the flexibility of operations and the continuous quest for operational excellence will allow us to remain on a path of growth and drive the progress of the countries and the welfare of the communities in the countries where we operate,” said Juan Esteban Calle, CEO of Cementos Argos.