PRESS RELEASE
August 25, 2016
Grupo Argos revenues grew 36% in the first half of 2016
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Thanks to its businesses' performance and management as their strategic architect thereof, Grupo Argos
consolidated revenue of COP 7.5 trillion, reaching a consolidated Ebitda of COP 1.85 trillion.
The consolidated net profit for the first half of 2016 is COP 589 billion, up 32% from the previous year.
Grupo Argos has been actively managing its portfolio, which is oriented at selective growth and strives for
operational efficiency.
As a holding company of sustainable investment in infrastructure, Grupo Argos obtained a consolidated revenue
of COP 7.5 trillion by the end of the first half of 2016, up 36%; it recorded a consolidated EBITDA of COP 1.85
trillion, up 29%; and a consolidated net profit of COP 589 billion, up 32%. These results are the product of its
management as the strategic architect of the businesses and the good performance of its subsidiaries in the
cement (Argos), energy (Celsia) and concessions (Odinsa), its urban development operations, and its share in the
real estate (Pactia) and port (Compas) sectors.
“The good dynamics of the infrastructure sector in the different countries where we operate, a clear strategic
focus and increasingly efficient operations, have driven the good results of our businesses. Grupo Argos will keep
supporting the strategic management of its subsidiaries and investments, always striving to generate value for all
its shareholders. We celebrate the steps taken in growth, efficiency and reorganization this semester, especially
the expansion of the cement business in the United States, the reorganization and focusing of investments in
Odinsa, and the progress in profitability in Celsia,” highlighted Jorge Mario Velásquez, CEO of Grupo Argos.
Grupo Argos has actively participated in the strategic management of its subsidiaries, managing to establish
transactions with high generation of value for all its shareholders. An example of this is the recent acquisition by
Cementos Argos of the Martinsburg Plant in the state of West Virginia, which will increase the company's total
installed capacity by 10%, and its installed capacity in the United States by 29%. We highlight that this acquisition
is accompanied by an ordered plan for the divestment of assets in the cement subsidiary with the aim to rotate the
capital, investing in the areas of greatest potential for value generation. Additionally, the non-strategic assets in
ODINSA were divested to simplify the company's structure so that it can focus on projects with a majority
shareholding that allow it to improve capacity and transfer value.
In the period, Fitch Ratings confirmed the long- and short-term credit rating of Grupo Argos at ‘AA+(col)’ and
‘F1+(col)’ with a stable outlook. This reflects the credit quality of the holding company and its investment portfolio,
as well as its capacity to maintain adequate liquidity indicators.
Consolidated results of Grupo Argos at the end of the first half of 2016:
 Consolidated revenue of COP 7.5 trillion, up 36%.
 Consolidated EBITDA of COP 1.85 trillion, up 29%, and an EBITDA margin of 25%.
 Consolidated net profit of COP 589 billion, up 32%.
 Consolidated assets of COP 41.9 trillion.
 Consolidated equity of COP 22.4 trillion.
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PRESS RELEASE
Results of the businesses at the end of the first half of 2016:
 Argos (Cement)*
In the first semester, the cement business recorded revenue of COP 4.4 trillion, up 27%, and an EBITDA of COP
861 billion, up 27% for an EBITDA margin of 19.6%. At the end of the semester, Argos had sold 7 million tons of
cement and 5.8 million cubic meters of concrete. The U.S. Regional Division had an outstanding performance that
ratifies the success of the International Diversification Strategy.
 Celsia (Energy)*
Celsia reported positive results that confirm its recovery process. Increased rainfall helped to normalize
operations in Colombia, and higher water levels also benefited power generation in Panama. The consolidated
revenue in the semester amounted to COP 2.2 trillion, up 43%. The EBITDA amounted to COP 529 billion, up
28%, and with an EBITDA margin of 24%.
 ODINSA (Concessions)*
The road concessions business continues to show solid growth with revenue in the first semester of COP 474
billion, up 46% from the previous year. The EBITDA increased 70%, amounting to COP 254 billion. The
consolidated average daily traffic of ODINSA road concessions recorded an increase of 4%; and the ODINSA
airports (El Dorado - Bogotá and Mariscal Sucre - Quito) reported a total of 8.3 million passengers.
 Urban Development and Real Estate
In the first half of 2016, the urban development and real estate businesses reported consolidated revenue of COP
45 billion, up 49%. The EBITDA increased to COP 12 billion.
 Compas (Ports)
The revenue recorded at the end of the first semester was down 11% at COP 67 billion. The Company’s EBITDA
was COP 27 billion, down 3%. Cumulatively, the company mobilized a total of 1.9 million tons, which shows a 4%
decrease.
*Cementos Argos, Celsia and Odinsa, subsidiaries of Grupo Argos, separately reported the results of the second quarter of
2016 to the market last week.
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Press room: www.grupoargos.com/periodistas
For more information, please contact:
Piedad Monsalve, Sustainability and Communications Manager - [email protected]
+57 (4) 3158400, Extension 2356 - Cell phone: +57 3013889652
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