Cementos Argos has highlighted its return into the US market as the company released its “positive results” for the third quarter.
Cementos Argos, a company of Grupo Argos, detailed in its release how it had secured two new port positions in the southeast coast of the United States with the first shipment expected in late November to start operations.
“We remain optimistic about the year-end outlook and continue making firm progress in our reentry into the United States and in strengthening our international presence,” Cementos Argos chief executive officer Juan Esteban Calle said.
The company confirmed its remains on track to “exceed” its EBITDA margin target of 25 per cent with 24 per cent recorded in the year to date. The company put this down to “efficiency measures” in its key markets.
Within the Colombian market, Cementos Argos noted demand for cement has made a recovery since May, including a cumulative growth of 4 per cent in September. The company reported cumulative shipments of 3.7 million tonnes of cement and 1.5 million cubic metres of concrete in the quarter.
In the Central American and Carribean market, Cementos Argos reported its cement sales volume increased 14 per cent in the quarter. The accumulated volumes for the year reached 3.2 million tonnes of cement and 101,000 cubic meters of concrete in this region.
“These results clearly reflect our strategic discipline and our team’s commitment to creating sustainable value,” Calle said.
