Q4 2024 Cementos Argos SA Earnings Call Transcript
Key Points
- Cementos Argos SA (CMTOY) achieved an adjusted ROCE of 14.1%, surpassing their guidance by 257 basis points.
- The company reported an adjusted EBITDA margin of 22.6% for 2024, exceeding their guidance by 60 basis points.
- Cementos Argos SA (CMTOY) successfully executed its SPRINT 2.0 program, resulting in a total shareholder return of 350%.
- The company completed the sale of its 31% stake in Summit Materials for $2.9 billion, realizing a 43% appreciation.
- Cementos Argos SA (CMTOY) plans to distribute COP2.25 trillion to shareholders through dividends and a spinoff, offering a record dividend yield of 16%.
- Cementos Argos SA (CMTOY) experienced a decrease in cement and remix volumes by 3.6% and 5.6% respectively, due to challenges in the housing segment in Colombia.
- The company's adjusted net profit of COP310 billion in 2024 was not fully comparable to 2023 due to changes in US operations.
- The Colombian market faced a 6% decrease in cement dispatches, impacting local sales.
- The company anticipates challenging market conditions in Colombia for 2025, with potential flat or slightly decreasing demand.
- Cementos Argos SA (CMTOY) faces intense competition and external pressures in Central America and the Caribbean, despite achieving growth.
Good morning everyone. Thank you for being here with us today to discuss our fourth quarter's results.
My name is Indira Diaz. I am Cementos Argos IRO and I will be hosting today's call.
On the call today is Juan Esteban Calle, our CEO; Felipe Aristizabal, our CFO; Maria Isabel Echeverri, the VP of Legal Affairs; Gustavo Uribe, the Leader of Central America; and Carlos Yusty, the VP of the Colombia Division.
First, I would like to ask you to carefully read the legal disclaimer that is currently being projected on the screen, which is also available on the presentation that is posted on our website. Please consider that all the discussions of the financial and operational results held during the call will be based on the adjusted figures excluding non-recurring and no core operations. For a detailed reconciliation of the adjustments, please refer to the annexes of our presentation.
(Event Instructions)
It is now my pleasure to turn the call over to Juan Esteban.
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