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Cementos Argos secures sustainability performance linked loan from BBVA

Cementos Argos secures sustainability performance linked loan from BBVA
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Argos is ranked one of the top companies for Social Responsibility and Corporate Governance

Advertisement Thanks to its commitment to corporate governance and the creation of social value for its stakeholders, Argos, the Grupo Argos cement company, entered, for the tenth year, the ranking of the most outstanding companies in Social Responsibility (SR) and Corporate Governance of Merco Colombia. This measurement includes carrying out an extensive and rigorous survey applied to various audiences, including representatives of NGOs, financial analysts, unions, consumer associations and economic information journalists, among others. In addition, it evaluates variables such as ethical behaviour, transparency, good governance, responsibility towards employees, contribution to the community and commitment to the environment and climate change.

Cementos Argos reports consolidated sales and profit drop in 2020

Cementos Argos reports consolidated sales and profit drop in 2020 Written by Global Cement staff 25 February 2021 Colombia: Cementos Argos’ full-year consolidated net sales in 2020 were US$2.52bn, down by 4% year-on-year from US$2.62bn in 2019. The group’s cement volumes declined by 9% to 14.7Mt from 16.1Mt. Net profit for the year was US$21.8m, down by 36% from US$34.1m. Volumes, sales and earnings before interest, taxation, depreciation and amortisation (EBITDA) declined in all three of the group’s regions. The company said that in the fourth quarter of 2020 the construction sector maintained a ‘positive trend,’ supported by the strong performance of the residential segment. It also recorded a slight improvement in the infrastructure segment. The producer said that warehouses and data centre projects had partially offset the weak performance of the segment, as offices and retail had been the most impacted during t

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