"In Q1 2023, net sales grew organically by 8% and Recurring EBIT by 12%. This profitable growth was led by strong performances across our building materials businesses. Our teams continued our fast-paced execution, with 12 value-accretive acquisitions, including Duro-Last, completing our range of flat roofing systems. With strong underlying trends across all our businesses, we are confident we will close the full year strong. We are upgrading our guidance accordingly to achieve organic net sales growth of above 6% and organic Recurring EBIT growth of above 10%, while delivering an industry-leading Recurring EBIT margin of above 16%.
Argos achieved an annual consolidated EBITDA of 2.16 billion Colombian pesos, the highest result in its history. The company reported an 18.3%** increase in consolidated cement volumes and a 2.7%** increase in consolidated ready-mix volumes at the end of the year. The net debt to EBITDA plus dividends ratio closed at 2.87...