Companies within the Argos Business Group have carried out buybacks amounting to more than COP 340 billion
21 May 2024The share repurchase plan announced by Grupo Argos and its listed companies amounts to more than COP 1 trillion.
Read moreBRC Ratings, a subsidiary of Standard & Poor’s Global, confirmed Grupo Argos’ issuer rating of AAA, the long-term debt rating of the Ordinary Bonds as AAA, and the short-term debt rating for the company’s commercial papers as BCR1+.
This result comes within the framework of the materialization over the past years of a series of strategic announcements, including the closing of the Framework Agreement for Grupo Argos’ divestment from Grupo Nutresa, progress in share buyback plans that currently exceed COP 300 billion and have allowed for the recovery in the market capitalization of Grupo Empresarial Argos by around COP 16 trillion in the last year, the reduction to double-digit levels of both the consolidated and separate net debt of the company, the asset combination between Argos USA and Summit Materials representing a capital influx of USD 1.2 billion and a 31% stake in this company listed on the New York Stock Exchange, the consolidation of infrastructure asset platforms in partnership with Macquarie Asset Management, and Celsia’s entry into Peru with the Caravelí wind project, among other initiatives.
Grupo Argos has demonstrated its ability to consistently execute a defined strategic vision, resulting in strengthened operational margins across its businesses and outstanding financial performance. In 2023, the company recorded a separate net profit growth of 128%, positioning it strategically to continue growing as an infrastructure asset manager.”
Alejandro Piedrahita
Vice President of Strategy and Corporate Finance
From a capital structure perspective, during 2023 Grupo Argos managed to decrease its consolidated net debt/EBITDA ratio to 2.0 times, reducing its consolidated net debt by 16% compared to the previous year’s figure. Meanwhile, in the separate account, the reduction amounted to 37%.
The share repurchase plan announced by Grupo Argos and its listed companies amounts to more than COP 1 trillion.
Read more16% of the employees at Grupo Empresarial Argos had the opportunity to experience internal mobility in the past year.
Read moreOn average the shares of Grupo Empresarial Argos doubled in value on the Colombia Stock Exchange
Read moreGrupo Argos' Shareholders Assembly approved a dividend of COP 636 (+10.6%), following the company's best financial results in 90 years
Read more