Economy & Market
Cementos Argos enjoys sales & EBITDA boom in 2019
In 2019, Grupo Argos subsidiary Cementos Argos' sales rose by 11 per cent year-on-year to $2.8 billion from $2.5 billion in 2018 and its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 14 per cent year-on-year to $0.5 billion from $0.4 billion in 2018. Cement dispatches rose by 0.6 per cent to 16 MT. In the US, its main market, the company sold 6.3 MT of cement, up by 9.5 per cent from 5.8 MT in 2018.
Argos CEO Juan Estaban Calle praised the company's successes in 2019, such as the completion of its Thermally Activated Clays (TAC) project at its 1.4 MT/year integrated Cementos Rioclaro plant in Colombia.