WE ARE
GREEN LIGHT
ARGOS IN THE | SPRINT: | WE GENERATED MORE |
UNITED STATES: A | SHARE PRICE | THAN USD 900 MILLION |
SUCCESS STORY | RECOVERY | IN VALUE FOR OUR |
PAGE 56 | PAGE 8 | TERRITORIES |
PAGE 84 |
INTEGRATED REPORT 2023
A periodic end-of-year report of Cementos Argos S.A.
City of principal domicile: Barranquilla
Address of principal domicile: Carrera 53 #106-280, piso 17, Centro Empresarial Buenavista
WE ARE
GREEN LIGHT
INTEGRATED REPORT 2023
TABLE OF CONTENTS
12 About this report
14 Letter from the President of the Board of Directors
16 Corporate governance
01 02
TOGETHER WE LEARN
TO GROW AND GO FORWARD
MANAGEMENT REPORT
38 Management Report
56 Argos in the United States: a Success Story
TOGETHER WE BUILD EVERYCORNER OF THE PLANET
STRATEGIC FRAMEWORK
62 How do we create value
- Comprehensive Risk Management
- Materiality analysis
- Stakeholders
- Value Added to Society (VAS)
ARGOS• INTEGRATED REPORT 2023
2
03 04
TOGETHER WE MOVE | TOGETHER WE MAKE | |
FORWARD TO GO FURTHER | DREAMS COME TRUE |
FOCAL ACTION POINTS
94 Profitable growth and fundamental value of the company
100 Business ethics, compliance and integrity
107 Resilient supply chain
113 Sustainable products and solutions
120 Mitigation and adaptation to climate change
- Environmental management
- Customer experience
- Talent management and inclusion
- Safety, health and personal well-being
- Social value
- Human rights
ANNEXES
178 Consolidated Financial Statements
270 Separate Financial Statements
- Index of contents
- Glossary
359 Independent Verification Memorandum
368 Legal Representative Certification
3
Cartagena Plant in Colombia
ARGOS• INTEGRATED REPORT 2023
In Argos we produce and market cement, concrete, and aggregates. Throughout almost ninety years, we have written a history framed by sustainability, innovation, environmental care, and commitment to creating value for the company and society. With a vision oriented towards the future, we continue with our purpose of making possible the construction of housing and infrastructure dreams in around sixteen countries and territories in the Americas.
Our human talent, made up of nearly 7,000 employees
at the end of 2023 with their genuine commitment, audacity and ability to adapt to the challenges of the environment, materializes actions that contribute to the consolidation of a more sustainable, thriving and inclusive society.
Delivering extraordinary solutions to our clients and strengthening bonds of trust with our stakeholders is our obsession! This is why we continue to advance with concrete and safe steps to chart new paths, transform realities and generate opportunities that transcend real change.
4
5
WE EXPORT TO
28 DESTINATIONS
9
6
10
INSTALLED
CAPACITY
24
MILLION OF TONNES of cement
- Cementos Argos S. A. has a presence in Venezuela through its subsidiary Corporación de Cemento Andino C. A., which is currently part of a judicial process regarding the expropriation of the Venezuelan Government.
WHERE
WE OPERATE
DIRECT PRESENCE
IN 16 COUNTRIES
AND TERRITORIES
1. | Antigua | 9. | Honduras |
2. | Colombia | 10. Panama | |
3 | Curacao | 11. | Puerto Rico |
4. | Dominica | 12. | Dominican Republic |
5. | USA | 13. | Saint Martin |
6. | Guatemala | 14. Saint Thomas | |
7. | French Guiana | 15. | Surinam |
8. | Haiti | 16. | Venezuela* |
8 | |||
11 | 14 | ||
12 | 13 | ||
1 | |||
4 | |||
3 |
7
16
15
2
5
ASSETS
11 | 179 | 6 | 9 | 63 |
cement plants | concrete plants | aggregates | clinker grinding | dispatch centers |
plants | ||||
29 | 4 | 1,641 | +1,500 | |
port terminals | time charter | mixer trucks | train wagons |
ships
FINANCIAL RESULTS
15.7 | 6.7 | 2.7 | ||||
MILLIONS | MILLIONS OF M3 | TRILLION OF PESOS | ||||
OF TONNES | of concrete shipped | in operating EBITDA | ||||
of cement shipped |
TALENT
6,784
employees
INCOME
BY REGIONAL
13% |
INTEGRATEDREPORT 2023 |
54%
84% | 5,724
men
16% | 1.060
women
Colombia
19%
23%
Colombia |
• | 33% |
ARGOS | |
USA CCA
58% | USA | |||
CCA | ||||
6
COLOMBIA REGIONAL
6 | 40 | 1 | 5 |
cement | concrete | port terminal | aggregates |
plants | plants | plants | |
24 | 3 | ||
dispatch | trillion of pesos in | ||
centers | income |
17%
3,641 | 83% | |
Men | ||
3,029 |
employees
612
Women
CENTRAL AMERICA
AND CARIBBEAN REGIONAL
25% | |||||
1 | 6 | 7 | 1 | ||
cement plant | concrete | clinker | aggregates | ||
plants | grindings | ||||
plant | 75% | ||||
10 | 13 | 2.3 | 870 | ||
Men | |||||
651 | |||||
port terminals | dispatch | trillions of pesos | employees | ||
centers | in income | 219 | |||
Women |
USA REGIONAL
4 | 133 | 18 | 2 |
cement | concrete | port | clinker |
plants | plants | terminals | grindings |
26 | 7.4 | ||
dispatch | trillions of pesos | ||
centers | in income |
10%
2,273 | 90% | |
Men | ||
2,044 |
employees
229
Women
7
SPRINT
Share Price Recovery Initiative | SPRINT LAUNCH | |
22/02/2023 |
- Focus on improving operational results
- +15% in dividends
- Repurchase of shares for $250 billion
Approval of first dividend payment
24/03/2023
- List our USA business on the New York Stock Exchange
- Improve stock liquidity with the appointment of a market maker
ARGOS• INTEGRATED REPORT 2023
8
Designation of Credicorp as a local market creator
22/02/2023
MARKET | |
CAPITALIZATION | |
4.9 | TRILLIONS |
JAN-23 | FEB-23 | MAR-23 | APR-23 | MAY-23 |
The achievement of all SPRINT program milestones resulted in a 66% increase in market capitalization during the year.
Record financial
and operating results
Approval of second dividend | MARKET | ||||
payment | CAPITALIZATION | ||||
8 | |||||
22/06/2023 | |||||
TRILLIONS | |||||
Approval of | Start of | ||||
a $125 billion | repurchase programs | ||||
repurchase program | |||||
27/09/2023 | |||||
22/06/2023 |
SUMMIT
TRANSACTION
07/09/2023
JUN-23
JUL-23
AUG-23
SEP-23
OCT-23
CEMENTOS
ARGOS MARKET
CAPITALIZATION
NOV-23 | DEC-23 | 9 | |
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Cementos Argos SA published this content on 10 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2024 20:48:04 UTC.