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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.
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The credit rating agency S&P (BRC Investor Services) ratified its AA+ rating for Grupo Argos, with a stable outlook. This rating is arrived at based on an analysis of the company’s financial capacity and its operations to ensure business continuity. The rating agency’s report highlights the organization’s strategic clarity that has been executed with coherence and discipline over recent years, together with its financial results at the end of 2019, a year in which the organization reorganized its corporations to optimize its equity structure and moved forward with generating value from its infrastructure assets in the construction materials, energy and concessions sectors. We receive the ratification of an AA+ rating from S&P under current conditions with satisfaction. This is a recognition of the coherence with which Grupo Argos has been implementing its strategy at this critical juncture. Today our efforts are focused on caring for our people and minimizing short-term impacts, while remaining optimistic and maintaining our long-term vision.”” Jorge Mario Velásquez CEO of Grupo Argos In its report, the rating agency highlighted an appropriate strategy for guaranteeing liquidity in the cement, energy and highway and airport concessions businesses, and a proven capacity to access equity markets and funding through the financial system. |
The share repurchase plan announced by Grupo Argos and its listed companies amounts to more than COP 1 trillion.
Read moreThe rating took into account the fulfillment of the strategic announcements reported by Grupo Argos to the market over the past years, which have resulted in sustained growth of operational margins, greater financial flexibility, and structural solidity, even in a challenging macroeconomic environment.
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
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