What led G. Argos' profits to grow 424% to $7.6 billion? Here's the explanation

Grupo Argos closed 2024 with profits of around 7.2 billion pesos, a figure that compared to the results obtained in the immediately preceding year reflects a growth of 424 percent, according to the organization, while highlighting that the holding company's net profit reached 4.5 billion, 396 percent above what was reported in 2023.

The good results of the organization, which include an EBITDA of 5.1 billion, growing 28 percent annually, are largely due to some strategic operations carried out during that year, its management comments.

“Grupo Argos’ results for 2024 are the sum of decades of work that allowed us to materialize a very important value for shareholders. The strength, focus and cash position with which we started 2025 excite us to dream about the future of this organization,” said Jorge Mario Velásquez, president of Grupo Argos.

The executives also referred to the stability achieved in revenues, which were around 15.2 billion pesos.

Referring to the results obtained by each of the organization's business units, they point out that last year Cementos Argos, for example, achieved revenues of 5.3 billion pesos, just 0.3 percent less than the previous year, an EBITDA of 1.1 billion (+2 percent) and a consolidated net profit of 5.5 billion (+1,625 percent).

The Group recalled that on February 10, this company confirmed the sale of 31 percent of its stake in Summit Materials for 2.875 billion dollars, which opened "new avenues for growth in the United States and other markets."

According to the official balance sheet released on Wednesday, Argos shipped 5.3 million tons of cement in Colombia, which gives it an 80 percent share of major infrastructure projects in the country. Its subsidiary in Central America and the Caribbean reported profits of 515 million dollars.

In the energy segment, Celsia recorded consolidated revenues of 6.8 trillion pesos, an increase of 9 percent annually, while the holding company's profits totaled 222 billion, 15 percent more than in 2023.

Among the developments made by the company last year , the company's management highlighted the start of construction of the Carreto wind farm in the Atlantic, with an installed capacity of 9.9 MW , as well as the acquisition of two wind projects for 218 MW and a small hydroelectric plant in Peru, with 19.8 MW. In solar generation, Celsia exceeded 400 MW and has an additional 300 MW under construction, according to Grupo Argos.

Another of Grupo Argos' subsidiaries is Odinsa Aeropuertos, and in its 2024 balance sheet it reports that 52 million passengers passed through the air terminals it manages, of which nearly 47 million did so through El Dorado Airport, which has established itself as the main connection hub in Latin America with the greatest movement of people, surpassing airports such as those in Mexico City and Sao Paulo.

According to management, this asset reached its maximum capacity and today mobilizes around 70 percent of the country's air market, which is why the company continues to promote El Dorado Max, a private initiative to expand the terminal's capacity to more than 60 million passengers per year with an investment close to

They added that Odinsa Vías recorded an average daily traffic of 108,000 vehicles in the cumulative year of 2024, with three of its assets showing growth above GDP. Autopistas del Café and Túnel de Oriente mobilized 13.8 million vehicles each, with increases of 5 percent and 1 percent compared to 2023, respectively.

Pacific 2 reached 2.8 million vehicles, growing 6 percent, while the Meta Road Network registered 9 million vehicles, 3 percent more than the previous year.