Grupo Argos' preferred share grew 5.4 times more than the MSCI Colcap during 2024

• In 2024, the market price of Grupo Argos’ preferred share recorded an 82% increase, while the common share rose by 66%.
• This positive performance also extended to the shares of Cementos Argos and Celsia, which grew by 67% and 24%, respectively, surpassing the performance of the MSCI COLCAP, which saw a 15% increase over the year.
• Recently, research teams from Davivienda and Credicorp reaffirmed a target price for Grupo Argos of approximately COP 25,000, recommending the company’s shares as one of the preferred investment alternatives in equities for this year.
• According to the January survey published by Fedesarrollo, Grupo Argos’ stock was the second most recommended by analysts, with a 36% preference.

In a 2024 marked by strategic transactions, Grupo Argos and its subsidiaries, Cementos Argos and Celsia, achieved outstanding performance in the Colombian stock market. By the end of the year, Grupo Argos’ preferred stock registered an 82% increase, while its common stock grew by 66%. Similarly, Cementos Argos reported a 67% rise in its common stock, whereas Celsia’s stock appreciated by 24%, outperforming the MSCI COLCAP index, which grew by 15% during the same period.

This performance reflects the implementation of strategic transformations, the execution of a series of value transfer initiatives for its shareholders, and the company’s strong financial results. In 2024, Grupo Argos completed all transactions outlined in the Framework Agreement for the divestment in Grupo Nutresa, formalized the Spin-Off Agreement with Grupo Sura, and announced the sale of the 31% stake that Cementos Argos held in Summit Materials.

Additionally, the share buyback programs of each company continued, having executed COP 640 billion in total by January 2025. This represents 43% of the amount approved by Grupo Argos’ General Shareholders’ Meeting, 55% for Cementos Argos, and 26% for Celsia. Furthermore, Cementos Argos’ SPRINT program, aimed at recovering stock value, has contributed to strengthening its share price.

Regarding financial performance, by the end of 2024, Grupo Argos recorded separate revenues of COP 3.5 trillion, marking a 148% increase. EBITDA reached COP 3.2 trillion, 241% higher than the previous year, while net income closed at COP 2.5 trillion, representing a 221% increase compared to 2023. Earnings per share reached COP 3,000.

Finally, in the first days of the new year, Grupo Argos was recognized as one of the most attractive companies for local and international investors, according to reports from Davivienda Corredores, Credicorp Capital, and the Financial Opinion Survey by Fedesarrollo. In the latter, Grupo Argos’ stock was the second most recommended by analysts, with a 36% preference. Additionally, research teams from Davivienda and Credicorp reaffirmed a target price for Grupo Argos close to COP 25,000, representing a value 25% above the common stock price and 70% higher for the preferred stock in early 2025.