Cementos Argos sales fall due to US and local markets

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Colombia: Cementos Argos’ sales have fallen due to decreased cement sales volumes in Colombia and the US. It blamed poor weather in the US and a large number of holidays in Colombia for the situation. Its sales revenue dropped by 8.2% year-on-year to US$677m from US$737m. However, its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 2% to US$107m from US$104m.

“The growth of EBITDA throughout all our regions is proof that the strategy we established is beginning to reap the benefits of the best efficiency programme and to focus our initiatives in continuing to provide the best experiences to our clients,” said Juan Esteban Calle, president of Cementos Argos.

Cement sales volumes fell by 4.1% overall to 3.69Mt. Volume drops were noted in Colombia and the US but in the rest of the world they rose by 11%.

Last modified on 16 May 2018

URL: https://www.globalcement.com/news/item/7499-cementos-argos-sales-fall-due-to-us-and-local-markets

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