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• Consolidated Revenues: COP1.5 trillion, stable compared to the same period in 2023.

• EBITDA: COP4.5 trillion, a growth of 39% compared to the previous year.

• Net Profit: COP7.3 trillion, with net profit for the controller at COP4.3 trillion.

• Separate Financial Results - Revenues: COP3.4 trillion.

• Separate Financial Results - EBITDA: COP3.3 trillion.

• Separate Financial Results - Net Profit: COP2.8 trillion.

• Net Debt: COP9.1 trillion, a reduction of 24% compared to the same period last year.

• Share Price Increase: Ordinary shares increased by 112%, preferential shares by 108%.

• Cementos Argos EBITDA Margin: 22%, an increase of 130 basis points from the previous year.

• Celsia Revenues: COP4.7 trillion, reflecting an increase of 3% year-to-date.

• Celsia EBITDA: COP345 billion, a decrease of 17% due to lower energy generation and asset deconsolidation.

• Odinsa EBITDA: COP154 billion, an increase of 2% from the previous year.

• Pactia Effective Gross Revenue: COP125 billion, a growth of 10% year-over-year.

• Pactia EBITDA: COP67 billion, an increase of 12% year-over-year.

• Urban Development Business - Land Lots: Structured 1,286 hectares, resulting in significant cost savings.

• Warning! GuruFocus has detected 7 Warning Sign with BOG:GRUPOARGOS.

Release Date: November 15, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Grupo Argos SA (BOG:GRUPOARGOS) reported a significant increase in its investment portfolio, appreciating close to COP3 trillion, reaching COP19.3 trillion.

• The company achieved a 39% growth in EBITDA, reaching COP4.5 trillion, compared to the same period in the previous year.

• Grupo Argos SA's share repurchase program has led to a substantial increase in share prices, with ordinary shares rising by 112% and preferential shares by 108%.

• Cementos Argos achieved an EBITDA margin of 22%, reflecting a 130 basis point increase from the previous year.

• Celsia inaugurated Colombia's first solar energy storage system, enhancing its energy transition efforts and increasing solar energy generation by 45% year-to-date.

Negative Points

• Grupo Argos SA's consolidated revenues remained stable at COP1.5 trillion, showing no growth compared to the previous year.

• Celsia experienced a 17% drop in consolidated EBITDA due to lower energy generation caused by adverse weather conditions.

• The urban development business faced a decline due to adjustments in the reasonable value of land lots, resulting in a provision close to COP96 billion.

• Cementos Argos saw a reduction in cement and concrete dispatches by 9% and 8%, respectively, due to decreased activity in the residential segment.

• Grupo Argos SA's net debt increased to COP1.2 trillion, primarily due to cash disbursements for the joint OPA for Grupo Nutresa shares.