Cementos Argos Full-Year 2025 Net Income Falls 53% Year-on-Year
Medellin-based multinational cement/concrete giant Cementos Argos announced February 18 that its full-year 2025 net income fell by 53% year-on-year, to COP$2.59 trillion (US$700 million), versus COP$5.58 trillion (US$1.5 billion) profits for full-year 2024.
Revenues dipped by 2.7% year-on-year, to COP$5.15 trillion (US$1.4 billion) in 2025, versus COP$5.3 trillion (US$1.4 billion) in 2024.
Earnings before interest, taxes, depreciation and amortization (EBITDA) for full-year 2025 dipped 1%, to COP$1.1 trillion (US$297 million), although adjusted EBITDA actually rose 6.6% year-on-year, the company added.
For full-year 2025, Cementos Argos shipped 9.3 million tons of cement – “similar to that of 2024, along with 2.3 million cubic meters of concrete, a 12% year-over-year decrease, primarily due to the slowdown in the housing segment in Colombia and the transformation of the business in Panama to a model operated by partners,” the company explained.
“However, in the fourth quarter 2025, [total corporate] volumes grew 3% for cement and 2% for concrete compared to the same period in 2024, anticipating a gradual improvement in the demand environment.”
As for its Colombian market, 2025 cement shipments rose 5% year-on-year, to 12.7 million tons, “driven mainly by the mass-market segment and self-construction,” according to the ocmpany.
Colombian revenues for 2025 totaled COP$2.8 trillion (US$757 million) while adjusted EBITDA rose 3.6% year-on-year, to COP$812 billion (US$219 million), “with a margin of 28.4%, 182 basis points above the previous year,” according to the company.
As for its Central America, Caribbean, and trading subsidiaries collective results, “Argos shipped 4.3 million tons of cement in 2025, an 8.6% year-over-year increase, and 1 million tons in the fourth quarter, a 12.6% increase,” according to the company.
These subsidies generated revenues of US$554 million and EBITDA of US$141 million, “with a margin of 25.4%, 30 basis points higher than in 2024,” according to the company.
“The Dominican Republic and Puerto Rico [divisions] registered record profitability levels, while Honduras and Guatemala showed solid operational performance. In Panama, efficiency measures offset the market contraction,” the company added.
Meanwhile, in 2025, “the strategic re-entry into the U.S. market materialized with the launch of Argos Materials LLC,” according to the company.
“The U.S. aggregates market — which represents more-than-50% of the value of the country’s industrial minerals, and has registered a compound annual growth rate of 4.9% in prices between 2000 and 2024 — offers an attractive structural opportunity.
“This market condition, combined with Cementos Argos’ logistical capabilities, track record in this region, and financial strength, supports the rationale for deploying the company’s growth strategy. This strategy anticipates generating an additional US$100 million to US$150 million in EBITDA through organic growth by 2030, with investments of less than $500 million, and an additional $100 million to $200 million through selective acquisitions,” the company added.
