Grupo Argos S.A. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
March 28, 2023 at 10:14 pm EST
Grupo Argos S.A. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported sales was COP 147,351 million compared to COP 138,346 million a year ago. Revenue was COP 5,739,804 million compared to COP 4,434,066 million a year ago. Net income was COP 298,607 million compared to COP 93,039 million a year ago.
For the full year, sales was COP 464,687 million compared to COP 392,305 million a year ago. Revenue was COP 21,339,706 million compared to COP 16,309,119 million a year ago. Net income was COP 881,424 million compared to COP 589,799 million a year ago.
Grupo Argos SA, formerly Inversiones Argos SA, is a Colombia-based holding company primarily engaged, through its subsidiaries, in the cement industry. The Company has three business segments: Sale of Cement, Sale of Energy and Gas and Financial Activity. The Company's activities include the production, distribution and sale of a variety of cement, ready-mix concrete and related construction materials, which are marketed under the Argos brand. The Company through its subsidiaries is involved in such sectors as cement, energy, harbors, coal and real estate development, as well as execution and management of infrastructure projects. The Company is also involved in the provision of such services as technical support, financial assessment, equipment financing and training programs for its clients, as well as in the investment in companies active in other sectors.