With solid results at the end of the third quarter, Grupo Argos' market capitalization has doubled over the past 12 months

• The consolidated EBITDA for the quarter reached COP 1.1 trillion, representing a 34% growth, while the net income attributable to the parent company increased by 75% compared to the third quarter of 2023, reflecting the positive performance of all the company’s businesses.
• Cementos Argos’ operations in Latin America continue to improve profitability, achieving an EBITDA margin of 22% year-to-date.
• Celsia’s net income attributable to the parent company showed an 8% growth year-to-date, while the company continued advancing wind and solar generation projects, strengthening its contribution to Colombia’s energy transition.
• Odinsa and Grupo Argos announced the start of construction on the second phase of the Túnel de Oriente, a project that will represent an investment of over COP 2.0 trillion and generate more than 2,000 direct jobs.

Grupo Argos closed the first nine months of the year with consolidated revenues of COP 11.5 trillion and an EBITDA of COP 4.5 trillion, marking a 39% growth compared to the same period last year. Consolidated net income reached COP 7.3 trillion, while net income attributable to the parent company stood at COP 4.3 trillion. These figures reflect the organization’s structural strength and the value generated by the Summit transactions and the Nutresa share exchange.

“Driven by strong operational results and the growth of our infrastructure-focused portfolio, Grupo Argos’ common and preferred shares have risen by approximately 110% over the past 12 months, reflecting an increase of COP 8 trillion in the company’s market capitalization.”

Jorge Mario Velásquez
President of Grupo Argos

Cementos Argos maintained its focus on profitability, improving its EBITDA margin by approximately 130 basis points year-to-date. Results have been particularly strong in Colombia, where the company accounts for 46% of the total EBITDA generated by the industry, with a 35% market share.

Celsia achieved a significant milestone in Colombia’s energy transition by inaugurating the country’s first solar energy storage system with batteries. This innovation, integrated into the Celsia Solar Palmira 2 farm, will enhance the plant’s self-generation capacity by allowing solar energy produced during the day to be stored for nighttime delivery to a regional company. This battery storage system overcomes the traditional limitations of solar energy by extending its availability beyond daylight hours, contributing to the diversification of the country’s energy matrix.

Additionally, the equipment needed for the operation of the Carreto Wind Project arrived in Colombia in October. This project, with a capacity of 9.6 MW of clean and renewable energy, highlights the wind potential of the Atlántico region—a resource in which Celsia will continue to invest as part of its commitment to expanding clean and efficient energy generation.

Meanwhile, Odinsa’s airport platform has transported 51 million passengers over the past 12 months, a 16% increase compared to the same period last year. Of this total, 46 million passengers were handled at El Dorado International Airport. This record figure for an asset operating at full capacity reflects Colombia’s growing status as a world-class tourist destination and Bogotá’s competitive position as a regional hub connecting the Americas. Odinsa continues to advance several Private Initiatives (PIs), including the El Dorado Max PI, which aims to expand El Dorado Airport’s capacity to 60 million passengers annually, and the New Cartagena Airport PI, proposing the construction of an airport between Cartagena and Barranquilla. Both projects are currently in the feasibility stage, reaffirming Odinsa’s commitment to developing Colombia’s airport infrastructure.

Summary of Separate Financial Results

Summary of Condensed Financial Results

Creating Comprehensive Value: Well-Being and Development

The companies within Grupo Empresarial Argos strengthened their performance in the S&P Global Sustainability Index, achieving 12 consecutive years of recognition for their environmental, social, and corporate governance (ESG) management among more than 3,500 companies worldwide. The latest assessment by S&P Global reaffirmed the leadership of Grupo Argos, Cementos Argos, and Celsia in sustainability, awarding them outstanding scores exceeding 82 points out of 100.

Additionally, in the latest edition of the Corporate Reputation Business Monitor (MERCO), Grupo Argos, Cementos Argos, and Celsia solidified their positions as some of the most reputable companies in Colombia. Grupo Argos ranked in the top 10 of the most reputable companies in the country, while Cementos Argos placed 16th and Celsia 49th. Furthermore, Odinsa entered the ranking at position 152, securing the 5th spot in the construction and infrastructure sector. This recognition marks the third consecutive year that Grupo Argos has been listed among Colombia’s top ten most reputable companies and the fifth consecutive year as the highest-rated business conglomerate in the country.

These achievements inspire Grupo Argos to continue working not only to deliver the best results and generate value for all its shareholders but also to do so in harmony with all its stakeholders. The company firmly believes that this balance is key to building a solid reputation—a valuable asset that provides Grupo Argos with a competitive advantage, enabling it to celebrate 90 years of leadership in its industry.