Citas bibligráficas
Chang, J., Watson, E., Cangahuala, S., Zacarías, A., Quintanilla, J. (2017). Análisis financiero comparativo de la industria cementera en Colombia y Perú: el caso de Argos y Unacem [Pontificia Universidad Católica del Perú]. http://hdl.handle.net/20.500.12404/9071
Chang, J., Watson, E., Cangahuala, S., Zacarías, A., Quintanilla, J. Análisis financiero comparativo de la industria cementera en Colombia y Perú: el caso de Argos y Unacem []. PE: Pontificia Universidad Católica del Perú; 2017. http://hdl.handle.net/20.500.12404/9071
@mastersthesis{sunedu/2653207,
title = "Análisis financiero comparativo de la industria cementera en Colombia y Perú: el caso de Argos y Unacem",
author = "Quintanilla Huamanchumo, Javier",
publisher = "Pontificia Universidad Católica del Perú",
year = "2017"
}
Cement, gray powder and fine texture that when mixed with other elements results in one of the strongest and resistant materials available worldwide, is a key element in the construction industry. Present in a myriad of applications and everyday uses, it accompanies the development of modern societies. According to latest forecastings, it is expected a favorable scenario to the global cement industry for the coming years, with a stable average annual growth rate of more than 9% by 2020, supported, among other reasons, by the increased demand for residential projects, as a result of major purchasing power in emerging markets. In relation to Peru and Colombia, very similar characteristics were founded. First, the prospects of the industry in both countries are positive, driven by the commitment of large state investment projects, despite some cases of corruption allegations associated with a Brazilian firm. On the other hand, both countries present oligopolistic market structure, with high entry barriers and initial investments. Also, the companies selected for analysis in this study, are leaders in their markets. The study is divided into four chapters. Chapter 1 presents an analysis of the global cement industry, including Peru and Colombia, along with the main sector trends. Chapter 2, presents the financial analysis of Argos and UNACEM, including a comparative analysis section about optimal capital and risk structure, and another about working capital analysis. Chapter 3 focuses on business value analysis, which includes the description of input values, valuation, and sensitivity exercises with probabilistic scenarios. It also includes business restructuring proposals, associated with organic and inorganic growth, and assets and liabilities purchases. Finally, Chapter 4 shows the main findings of the study, with a section of conclusions and another section of recommendations
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