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Colombia President Ivan Duque announced August 20 that  Colombia's mostly stated-owned Ecopetrol oil company has just paid US$3.67 billion to finalize the acquisition of 51.4% of the shares of Medellin-based multinational electric-power transmission giant, ISA.

That 51.4% block of ISA stock had been held by Colombia’s Finance Ministry. Hence Ecopetrol’s buyout deal helps Colombia’s national government recoup part of the massive debt it incurred in order to subsidize mainly poor and working-class populations suffering from the Covid-19 pandemic over the past 18 months and beyond.

The US$3.67 billion buyout follows a US$4 billion credit agreement between Ecopetrol and four multinational banks: Banco Santander S.A., Citibank N.A., JPMorgan Chase Bank N.A. and The Bank of Nova Scotia, each with a 25% interest in the loan deal, according to Ecopetrol.

“The main financing conditions are: (i) 100% capital payment upon maturity within a period of two years from the contract signing date; (ii) an interest rate of Libor USD (3M) + 80 basis points and (iii) an initial aggregate commission of 30 basis points," according to Ecopetrol.

“With the [loan] authorization resolution obtained from the Ministry of Finance, the company has complied with all the procedures and internal and external approvals required for the execution of the credit agreement. The conditions obtained confirm the confidence of the financial sector in the financial soundness of the Ecopetrol Group and its future prospects with this acquisition,” Ecopetrol added.

Reacting to the buyout deal, ISA on August 13 issued this statement:

“At a press conference chaired by the Ministers of Finance, Mines and Energy and the Ecopetrol’s CEO, it was emphasized that the [proposed share buyout] strengthens the capabilities of both companies in view of the future challenges of energy transition and sustainability, opening the possibility of achieving synergies, enhancing innovation and the adoption of new technologies. It was also highlighted the importance that the two companies will continue to belong to the Colombian people.

“During the conference, Ecopetrol emphasized that ‘ISA will continue to be ISA’ and reiterated that ISA’s strategy will be respected . . .

“In addition, ISA, as a company that belongs to all Colombians, is committed to the energy future of the country and the leadership of Colombia in Latin America . . .

“Once the Ministry of Finance notifies ISA of the closing of the transaction, it will be made public in a timely manner,” ISA added.

ISA 2Q 2021 Profits Rise

On a related front, ISA announced August 13 that its second quarter (2Q) 2021 net income rose 6.4% year-on-year, to COP$586 billion (US$152 million).

Operating revenues rose 6% year-on-year, to COP$2.8 trillion (US$729 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 3.2%, to COP$1.9 trillion (US$494 million).

Assets rose 15.9%, to COP$62.6 trillion (US$16.3 billion), while 2Q 2021 investments totaled COP$770.6 billion (US$200.5 million), according to the company. Consolidated financial debt rose 16%, to COP$26.4 trillion (US$6.87 billion).

As for first half (1H) 2021 results, ISA’s net income rose 17.8%, to COP$11 trillion (US$2.86 billion), with a net margin of 21%.

EBITDA for 1H 2021 rose 7.8% year-on-year, to COP$3.4 trillion (US$885 million), while EBITDA margin came-in at 65,6%.

During 1H 2021, ISA invested COP$2.7 trillion [US$702 million] in construction of electric power transmission lines as well as for highway construction projects in Chile and Colombia.

“The entry into operation of the 230/500kV ‘Interconexión Noroccidental’ project, a megaproject that runs through 36 municipalities in the departments of Antioquia, Córdoba, and Santander, allows to ensure the reliability of the National Transmission System. This project has the first 500kV gas-insulated substations and will generate annual revenues for approximately US$42 million,” according to ISA.

On another front, “ISA developed in Colombia a project to bring drinking water to thousands of families of the Wayúu community in La Guajira. The project is called Pilas Públicas Sararao, and it is the first ‘Works for Taxes’ project developed by our affiliate ISA Intercolombia, which joins those projects already delivered in previous years in Peru,” the company added.


Medellin-based multinational banking giant Bancolombia announced August 11 that its second quarter (2Q) 2021 net income rose to COP$1.2 trillion (US$312 million), up from a COP$73 billion (US$19 million)net loss in 2Q 2020.

“This profit represents a growth of 113% compared to 1Q 2021 and a significant recovery from the net loss presented in 2Q 2020,” according to Bancolombia.”

The corporate loan book rose 3.25% quarter-on-quarter, while deposits were up 2.82% net loan-provision charges dropped 51%.

Meanwhile, Bancolombia’s client base continues to grow at a 10% annual rate over the last five years, according to the company.

Thanks to investments in technology, “85% of total transactions are done through digital channels” rather than inside bank branches, according to the company.

“Despite a challenging context, the recovery in economic activity continued in 2Q 2021. Hence, we adjusted our fiscal 2021 GDP forecast [for Colombian economic growth] to 8%. We expect that the revised fiscal reform that the government submitted to Congress last month will be approved during this semester,” the company added.

While overall net income improved year-on-year, net interest income nevertheless dipped 1.9% year-on-year, to COP$2.84 trillion (US$739 million), according to the company.

In addition, “interest-rate derivatives and our repos portfolio generated COP$273 billion (US$71 million), 40.7% lower when compared to 1Q 2021,” according to Bancolombia.

Annualized net interest margin also dipped slightly, “due to the lower allocation of resources in foreign currency securities and their respective exchange rate restatement.

“Additionally, the profitability of investments in fixed income assets and their derivatives decreased, explained by lower valuations in a scenario of expected changes in Colombian monetary policy for the upcoming months,” the company added.

On the other hand, “total funding cost continues to show a better performance during 2Q 2021. Savings accounts and checking accounts have increased their share over the last 12 months. Savings accounts represented 36% in 2Q 2020, and 42% of total funding for 2Q 2021.

“The annualized average weighted cost of deposits was 1.45% in 2Q 2021, dropping 12 basis points compared to 1Q 2021 and 103 basis points compared to 2Q 2020,” according to Bancolombia.

Meanwhile, net fees and income from services totaled COP$807 billion (US$210 million), up 18% year-on-year.

“The better annual performance in fees is mainly due to higher volumes of transactions, denoting too the positive results on commission income for credit and debit cards and commercial establishments, payments and collections as well as banking services,” according to the company.

“Fees from credit, debit cards and commercial establishments went up by 2.1% compared to 1Q 2021 and by 33.4% compared to 2Q 2020,” while fees from asset management and trust services rose 16.8% compared to 2Q 2020.

Past-due loans (overdue more than 30 days) totaled COP$9 trillion (US$2.3 billion) at the end of 2Q 2021 and represented 4.6% of total gross loans, while charge-offs totaled COP$988 billion (US$257 million).

Coverage for past-due loans was 169% at the end of 2Q 2021, down from 171.7% at the end of 1Q 2021.

“Provision charges (net of recoveries) totaled COP$626 billion (US$163 million) in 2Q21. The provisions reduction during the quarter were mainly due to macroeconomic impacts considering a better outlook in the models for 2021 compared to previous estimates, to adjustments in the provisioning rules for the portfolio under credit reliefs and to a lower deterioration in retail and small-and-medium enterprise customers,” according to Bancolombia.

“Bancolombia maintains a strong balance sheet supported by an adequate level of loan loss reserves. Allowances (for the principal) for loan losses totaled COP$15 trillion [US$3.9 billion], or 7.7% of total loans at the end of 2Q 2021, decreasing when compared to 1Q 2021,” according to the company.

As of March 31, 2021, Bancolombia had 30,993 employees, 933 banking branches, 6,018 ATMs, had 21,876 banking agents and served more than 20 million customers, according to the company.


Medellin-based textile giant Fabricato announced August 4 that its first-half (1H) 2021 net income moved into the black year-on-year, to a net COP$2.4 billion (US$614,000), versus a COP$19.4 billion (US$4.96 million) net loss in 1H 2020.

The 1H 2021 net profit “breaks the loss trend of the last five years,” according to the company. “We achieved the highest gross profit in the last seven years, equivalent to COP$33.7 billion [US$8.6 million].

“We obtained an operating profit of COP$17.2 billion [US$4.4 million]. The last time we reported a first-half operating profit was in 2016, at COP$4.0 billion [US$1.02 million],” the company added.

Earnings before interest, taxes, depreciation and amortization (EBITDA) for 1H 2021 skyrocketed by 1,164% year-on-year, to COP$23 billion (US$5.88 million), up from COP$1.8 billion (US$460,000) in 1H 2020.

In total, “96% of the result achieved at the EBITDA level corresponds to the textile operation, which contributed COP$22 billion [US$5.6 million],” Fabricato explained.

Post-pandemic textile demand “reactivated faster than expected, but the market was short on supply in terms of its inventory levels,” according to the company.

“Additionally, the supply of imported and contraband products -- very relevant in the [Colombian] textile market -- was diminished due to a global shortage and restrictions on the capacity of international freight transport logistics, a situation that persists to date and likely will not normalize in what remains of this year 2021.”

On the other hand, “Fabricato was not immune to the economic and operational damages generated by the national protests and roadblocks that caused delays and major effects on our supply chain including deliveries to our customers and large cost overruns that affected the financial results of the company, putting direct and indirect jobs at risk.”

Meanwhile, “a redefinition of the competitive map of textile companies in the Colombian market is emerging, which generates great opportunities for Fabricato to grow, to compete locally and internationally,” the company added.


Colombia- and Mexico-based real estate search-and-development enabler La Haus announced July 29 that it has raised US$135 million from big international investors including Amazon.com founder Jeff Bezos as well as from “new-age” banker Gabriel Gilinski -- son of Colombian banker Jaime Gilinski, considered as Colombia’s second-richest person.

La Haus – with operations in Medellin, Bogota, Mexico City and Guadalajara (Mexico) – was founded by former Colombia President Alvaro Uribe’s two sons, Jerónimo Uribe and Tomás Uribe, along with La Haus president Rodrigo Sánchez-Ríos and chief technology officer Santiago Garcia, according to the company.

Jerónimo and Tomas Uribe met Sánchez-Ríos at Stanford University, and prior to launching La Haus, the Uribe brothers started and ran Jaguar Capital, a Colombian real estate development company that boasted of completing US$350 million worth of retail and residential projects, according to La Haus.

According to the corporate announcement, La Haus just nabbed US$50 million in Series B funding in a follow-on campaign co-led by Acrew Capital and Renegade Partners, paired with US$50 million in debt funding.

The latest round “brings the company’s total Series B funding to $135 million and cements the company’s leadership in Spanish-speaking Latin America,” according to La Haus.

“Funding expansion was driven by exponential growth in Mexico, where transactions grew almost 10 times from 2Q [second quarter] 2020 to 2Q 2021. La Haus expects to achieve more than US$1 billion in annualized gross sales by the end of the year 2021,” according to the company.

“Selling more than 500 homes per month, La Haus is the market leader in Spanish-speaking LatAm by an order of magnitude,” the company added.

Besides the new investments by Bezos and Gilinski, other new investors in the latest round include Endeavor Catalyst, Moore Strategic Ventures, Marc Benioff’s TIME Ventures, Rappi’s Simon Borrero and Medellin-based pop-rock music star Maluma, according to La Haus.

“New funding will be used to fuel geographic expansion and introduce financing solutions to help solve housing inequality. By the end of 2021, La Haus will be in every major metropolitan area in Mexico and Colombia,” the company added.

“The need for new housing in LatAm and other emerging markets is acute. The pace of building new homes is slow because small- and mid-sized developers-- those who build 80% of new homes in LatAm -- are cash constrained. Additionally, mortgages are largely unaffordable for consumers, with banks extending only a fraction of the credit to individuals compared to the U.S., and often at worse terms,” according to the company.

“With the new debt funding and its one-of-a-kind, proprietary data gleaned from thousands of real estate transactions, La Haus is now positioned to extend capital to developers and consumers more quickly, with much lower risk and at better terms,” the company added.


Colombia President Ivan Duque announced July 31 that the nation is on its way to surpass a goal of at least 35 million vaccinations against Covid-19 by end-August 2021 – well ahead of schedule.

Vaccinations are now surging at more than 400,000 persons daily.

With Colombia already having 15.5 million people at least partially vaccinated as of July 31 -- along with 12.2 million now fully vaccinated -- this means Colombia looks on-target to exceed 35 million vaccinations by the end of this month (August).

As of July 31, Colombia had already achieved 27.5 million vaccinations -- 2.5 million more than originally targeted for July. If the nation can achieve an average of about 350,000 shots daily this month, then it will easily surpass the 35-million-shot goal for August.

Meanwhile, Colombia is expanding its vaccination campaign, adding everyone at least 18-years-old, starting this month. That will be followed by a second campaign for those at least 12 years old, starting in late August, according to Health Minister Fernando Ruiz.

The surging vaccination rates spur confidence that Colombia will indeed achieve its goal of getting all 35 million of its most vulnerable populations fully vaccinated against Covid-19 by December 2021.

Meanwhile, Medellin as of July 31 reported having completed 1.89 million total vaccinations, with nearly 900,000 now fully vaccinated – including 717,00 getting the required two-dose regime plus 182,000 more getting the Janssen one-dose shot, according to latest official statistics.

While anti-vaccine conspiracy theorists and some extremist politicians (now even including left-wing demagogue Senator Gustavo Petro) are attacking science-based Covid-19 vaccinations as "useless," President Duque in contrast urges citizens to stay the course.

“Getting vaccinated is everyone’s duty,” Duque stated, adding that the government aims to “quickly reach 30 million,” hence bringing the hoped-for "herd immunity" ever-closer.


Medellin-based multinational foods manufacturer and retailer Grupo Nutresa announced July 30 that its second-quarter (2Q) 2021 net income was essentially flat year-on-year, at COP$140.6 billion (US$36.3 million), versus COP$139.9 billion (US$36 million) in 2Q 2020.

Operating revenues for 2Q 2021 rose to COP$2.9 trillion (US$748 million), up from COP$2.66 trillion (US$686 million) in 2Q 2020.

As for first-half (1H) 2021, consolidated net profit rose 11.5% year-on-year, to COP$357 billion (US$92 million), from COP$331 billion (US$85 million) in 1H 2020, according to the company.

Sales in 1H 2021 rose 8.5% year-on-year, while earnings before interest, taxes, depreciation and amortization (EBITDA) rose just 0.4% year-on-year, to COP$749 billion (US$193 million).

“Grupo Nutresa’s revenues in Colombia maintain a positive trend, amounting to COP$3.5 trillion [US$903 million], which represent 60.8% of the total sales, with 11.2% growth rate in relation to the same period in 2020,” according to the company.

“International sales, which totaled to US$625 million, were 6.6% higher than in 2020’s first half and represent 3.2% of the total sales. When stated in Colombian pesos, these sales are equivalent to COP$2.3 trillion, representing a 4.5% growth,” the company added.

Gross margin dipped 1% year-on year “mainly due to the increase in the cost of some raw materials associated with the global commodities super-cycle,” according to the company.

Operating profit rose 0.8% year-on-year, “considering a 7.7% increase in operating expenses, which include expenses associated with biosecurity and cleaning measures, an increase in non-recurring logistics expenses, and a higher investment in our brands at the points of sale,” according to Nutresa.

As for its Covid-19 response, “as of July 30, 65.9% of Grupo Nutresa’s Colombian employees had already initiated the vaccination process,” the company added.

Grupo Nutresa’s various business segments include production and sale of processed meats; cookies and crackers; chocolates; cold drinks; pastas; coffees; edible oils; juices; soups; desserts; teas and coffees; ice creams; fast foods and pet foods.


Colombia-based Cemex LatAm Holdings announced this morning (July 29) that its second quarter (2Q) 2021 net income more than doubled year-on-year, to US$23.8 million.

Operating earnings before interest, taxes, depreciation and amortization (EBITDA) likewise rose 81% year-on-year, to US$53 million. Net sales – adjusted for currency fluctuations -- jumped 54%, to US$228 million, according to the company.

“Higher cement volumes in all countries, as well as higher prices in Costa Rica and the rest-of-Cemex-LatAm-region, were the main drivers of the improvement,” according to the company. “During the same [2Q] period of last year, sales were impacted by Covid-19 restrictions in most of our markets.”

Cost of sales as a percentage of net sales decreased by 3.7 percentage points during the quarter, from 63.4% in 2Q 2020 to 59.6% in 2Q 2021, according to the company.

The big improvement in operating EBITDA during 2Q 2021 “was due to higher contributions from all our countries. Operating EBITDA margin increased by 3.6 percentage points compared with that of the second quarter of 2020. The margin expansion was mainly driven by higher volumes and lower selling, general and administrative expenses, despite higher maintenance expenses and expenses related to the social protests in Colombia,” the company added.

The net income improvement “was mainly driven by higher operating earnings,” while “net debt declined US$6 million from March to June, reaching US$613 million at the end of the quarter,” according to Cemex LatAm.

“In Colombia, the growth momentum observed in industry cement volumes year-to-date April was interrupted by the social protests, mainly during May. We estimate industry activity returned to first-quarter levels in June, as the road blockades and protests gradually eased.

“The housing and infrastructure sectors continued driving demand in the country. We believe the outlook for cement volumes remains favorable, supported by the resilience of the self-construction sector, record home sales, the execution of the existing 4G [fourth-generation] highway projects, as well as the rollout of new infrastructure programs,” according to the company.

“In Panama, our cement, ready-mix and aggregates volumes showed strong growth during the quarter due to an easy base of comparison in the same period of 2020, which was impacted by Covid-19 restrictions. However, industry cement volumes during the quarter remained weak, below those of 2019.

“In Costa Rica, our cement volumes during the second quarter increased by 16% on a year-over-year basis. The positive volume trend in the industry continued during the quarter, mainly driven by the infrastructure and housing sectors. Our quarterly cement prices improved by 4% year-over-year and by 2% sequentially, in local currency terms.

“In the rest-of-Cemex-LatAm region, our cement volumes during the quarter improved by 25% year-over-year and 9% sequentially, reaching record levels. Cement volumes during the quarter increased year-over-year in Nicaragua, Guatemala, and El Salvador.

“Increased remittances supported cement consumption across the region. In Guatemala, our cement volumes were driven mainly by strong activity in the self-construction sector -- a segment where we have a higher relative presence -- and by a gradual recovery in the formal sector.

“Our cement prices improved by 2% year-over-year and 1% sequentially, in local-currency terms.

“In Nicaragua, our cement volumes were driven mainly by the self-construction sector and by government-sponsored projects. Going forward, socio-political risk in the country could increase due to the presidential elections scheduled for this November.”

As for its rest-of-2021 spending plans, “we are guiding to a strategic capex of US$40 million for 2021. US$28 million is related to the development of our overall Maceo [Antioquia] cement plant project in Colombia,” the company added.


Medellin electric power giant EPM announced today (July 28) that its Board of Directors voted to reject a proposed swap of the departmental government of Antioquia’s majority share in the (estimated) US$5 billion Hidroituango hydroelectric project -- in exchange for giving Antioquia a minority share in EPM.

The EPM Board “analyzed the proposal of [acting] Governor of Antioquia Luis Fernando Suárez Vélez to sell to EPM the 52.88% participation share of the [Antioquia] government and [its development subsidiary] IDEA in the Hidroituango Hydroelectric Society,” EPM announced in a press release.

“The Board concluded that it is important for [EPM] to continue with the working groups in charge of the issue, since it considered the possibility of EPM being able to buy said participation of great interest.

“However, the Board of Directors did not see the proposed form of payment [that is, the share swap] presented by the Antioquia government and instead proposed that payment through ordinary resources be studied within the negotiating tables,” EPM added.

In the meantime, “the department of Antioquia -- always close to the heart of [EPM] -- will see between 2021-2024 investments by EPM amounting to COP$10.4 trillion [US$2.68 billion], during one of the most challenging times for humanity due to the pandemic of Covid-19,” according to EPM.

“These [investment] resources -- included in the update of the EPM investment plan -- were approved by the Board of Directors in its session on July 27, 2021. The investments will allow the development of 132 infrastructure projects in Antioquia, providing services of [electric] energy, natural gas, aqueduct and sewerage, with quality, continuity, coverage and reliability.

“These investments in the Antioquia subregions are added to the transfers from the electricity sector that the company periodically gives to 52 Antioquia municipalities located in the Magdalena Medio, Northeast, North, West, East, Southwest and Valle de Aburrá, in addition to the Regional Autonomous Corporations: Corantioquia , Cornare and Corpourabá, in jurisdictions where EPM has hydropower generation reservoirs, including the river basins that supply them, or where powerhouses -- both hydraulic and thermal -- are installed.

“Between 2016 and 2020 these municipalities and corporations received COP$364 billion [US$94 million,” EPM added.


Medellin-based multinational supermarket/dry-goods retailer Almacenes Éxito announced July 27 that its second quarter (2Q) 2021 net profits soared 297%, to COP$50.7 billion (US$12.9 million), from COP$12.8 billion (US$3.2 million) in 2Q 2020.

The quadrupling of net income is credited to a “group diversification strategy with a higher contribution of complementary businesses, mainly royalties from TUYA [credit cards] and the development of real estate projects,” according to Éxito.

“Moreover, the company profited from a leaner financial structure and lower levels of non-recurring expenses from Covid-19. Results were partially offset by lower sales levels and the variation in income tax derived from the use of the statutory rate,” the company added.

Recurring earnings before interest, taxes, depreciation and amortization (EBITDA) for 2Q 2021 rose 2.5%, to COP$306.5 billion (US$78 million), while revenues climbed a modest 0.2%, to COP$3.7 trillion (US$942 million), according to the company.

Corporate consolidated results include Colombia, Uruguay and Argentina store operations, as well as the discontinued operation of Transacciones Energéticas S.A.S., according Éxito.

Revenue growth “benefitted by the recovery of complementary businesses, solid omni-channel growth and a higher share on sale of innovative formats (up 20.2% in Colombia, up 43.9% in Uruguay, up 9.3% in Argentina),” according to Éxito.

Recurring EBITDA growth came from “higher contribution from TUYA [credit-card] royalties, the real estate business and increased productivity,” according to the company.

Consolidated capex for 2Q 2021 was COP$54.9 billion (US$14 million), 72% of which was “focused on innovation, omni-channel and digital transformation activities,” according to the company.

The Éxito “Wow” and “FreshMarket” stores “continued growing sales above non-converted stores. New model ‘Vecino’ [format] implemented in ‘Super Inter’ allowed a remarkable double-digit sales evolution,” the company added.

For its rest-of-2021 outlook, Éxito expects to spend US$110 million to US$130 million in capex, of which US$90 million to US$110 million would be inside Colombia.

Commenting on the 2Q 2021 results, Éxito CEO Carlos Mario Giraldo stated: “Despite mobility restrictions in LatAm and social disruption in Colombia, Grupo Éxito continued improving its performance during the second quarter of 2021.

“The company consistently developed innovative formats, its on-line and omni-channel businesses, while our ‘Puntos Colombia’ and complementary businesses -- mainly the real estate and the financial divisions -- gained traction.

“Today, innovation has proved its importance more than ever and consumer trends confirm the statement. Our clients look forward to combining virtual and in-store purchases and we have continued capitalizing from it by strengthening our retail platform,” he added.

Gross margin improved by 124 basis points (bps), to 26% in 2Q 2021, and rose 158 basis points in first-half 2021, to a margin of 26.3%. “Quarterly margins were boosted by the higher contribution of complementary businesses mainly in Colombia,” according to the company.

“Retail margin (when excluding other revenue) gained 60 bps versus the one posted in 2Q 2020, driven by contribution from the development of real estate projects in Colombia and from cost efficiencies across countries,” the company added.


Medellin-based multinational utilities giant EPM announced July 27 that its first half (1H) net income hit COP$1.9 trillion (US$483 million), more than double the COP$717 billion (US$192 million) profit in 1H 2020.

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose to COP$3.5 trillion (US$890 million), up from COP$2.8 trillion (US$752 million) in 1H 2020, while EBITDA margin hit 30% and net profit margin came-in at 16%, according to the company.

Gross revenues in 1H 2021 rose 26% year-on-year, to COP$11.7 trillion (US$2.97 billion), according to the company.

So far this year, EPM Group has invested COP$1.7 trillion (US$432 million) in infrastructure projects, of which COP$627 billion (US$160 million) correspond to the Hidroituango hydroelectric project in Antioquia.

Commenting on the results, EPM general manager Jorge Andrés Carrillo Cardoso stated: “These positive figures were achieved in part thanks to the community’s commitment to paying their bills for the public services, plus the improvement in operations due to the greater generation of energy from our hydropower plants -- which had high water inputs -- and also to higher energy sales.”

As of June 30, 2021, Grupo EPM total assets had grown 2% year-on-year, to COP$65.3 trillion (US$16.6 billion), while liabilities rose 4%, to COP$38.1 trillion (US$9.7 billion). The debt-to-EBITDA indicator for EPM Group closed at 4.0 in 1H 2021, compared to 3.9 for 1H 2020, the company added.


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About Medellin Herald

Medellin Herald is a locally produced, English-language news and advisory service uniquely focused upon a more-mature audience of visitors, investors, conference and trade-show attendees, property buyers, expats, retirees, volunteers and nature lovers.

U.S. native Roberto Peckham, who founded Medellin Herald in 2015, has been residing in metro Medellin since 2005 and has traveled regularly and extensively throughout Colombia since 1981.

Medellin Herald welcomes your editorial contributions, comments and story-idea suggestions. Send us a message using the "contact" section.

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