Companies

Conconcreto 1Q 2018 Net Income Drops Sharply; ‘Oriente’ Highway Feasibility Report Due in May

Medellin Herald May 9, 2018

Medellin-based construction giant Conconcreto reported May 9 that its first quarter (1Q) 2018 consolidated net income dropped 86% year-on-year, to COP$2 billion (US$698,000). Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) also dropped by 36% year-on-year,

Companies

ISA 1Q 2018 Net Income Jumps 24% Year-on-Year

Medellin Herald May 9, 2018

Medellin-based international electric-power transmitter and highway concessionaire ISA announced May 9 that its first quarter (1Q) 2018 net income rose 24% year-on-year, to COP$297 billion (US$103 million). Gross revenues climbed 3.6% year-on-year, to COP$1.6 trillion (US$558 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 12%

Companies

Fabricato Posts 1Q 2018 Net Loss, But Sees Improvements Coming

Medellin Herald May 7, 2018

Medellin-based textile giant Fabricato announced May 1 that it posted a COP$11.6 billion (US$4.1 million) net loss for first quarter (1Q) 2018, 13% worse than the COP$10 billion (US$3.5 million) net loss in 1Q 2017. Sales also dipped 13.6% year-on-year, while earnings before interest, taxes, depreciation and amortization (EBITDA) dropped 45% year-on-year, to COP$1.8

General News

Medellin Metro Hails Receipt of Last of 22 New Trains; Frequency, Capacity Improve

Medellin Herald May 7, 2018

Medellin’s “Metro” public transit agency announced May 4 that it just took delivery on its 80th train — the last of 22 new trains ordered in 2016 from Spanish manufacturer Constructores y Auxiliares de Ferrocarriles (CAF). The COP$380 billion (US$135 million) investment in the 22 new trains enables Metro to improve reliability and cut waiting […]

Colombian economy

IMF Sees 2.7% GDP Growth in Colombia This Year

Medellin Herald April 30, 2018

The International Monetary Fund (IMF) on April 30 announced that it foresees 2.7% growth in Colombia’s gross domestic product (GDP) this year. In its latest annual “executive board” report (see: http://www.imf.org/en/News/Articles/2018/04/30/pr18154-imf-executive-board-concludes-2018-article-iv-consultation-with-colombia?cid=em-COM-123-36986), IMF found that during

Companies

Nutresa 1Q 2018 Profits Dip Year-on-Year, but Sales Rise

Medellin Herald April 27, 2018

Medellin-based multinational foods giant Grupo Nutresa announced April 27 that its first quarter (1Q) 2018 net profits fell 13.1% year-on-year, to COP$121 billion (US$43 million). The profit dip “is mainly explained by not accounting a portion of the dividends from our investment portfolio during the period, COP$26 billion [US$9.3 million], which will be registered during

Schools

Medellin’s First-Ever Congress of Junior Ornithology Students: Impressive Growth, Wider Appreciation

Medellin Herald April 24, 2018

Just as Medellin pioneered the development of Colombian wild-bird study and conservation via the founding of Sociedad Antioqueña de Ornitologia (SAO) nearly 35 years ago, now the city can boast of hosting the first-ever congress of junior ornithology students. In the April 19 event at Medellin’s Colegio Montessori, some 70 students from four local schools […]

General News

EPM Launches Pioneering Solar-Power Array at Antioquia Hydroelectric Dam

Medellin Herald April 18, 2018

Medellin-based multinational electric power giant EPM announced April 18 the launch of a novel floating solar photovoltaic (PV) power generation scheme at El Peñol lake, adjacent to the company’s 560-megawatt Guatape hydroelectric power station in Antioquia. The floating PV station will be the first of its kind in Spanish-speaking Latin America, according to EPM. The […]

Colombian economy

Energy Demand in Colombia, Antioquia Rising Year-on-Year

Medellin Herald April 18, 2018

Medellin-based national electric-power grid operator and power-trading center XM announced April 17 that power demand in Colombia is up 3% year-on-year through first-quarter (1Q) 2018, compared to a 1.8% net year-on-year decline in 1Q 2017. Over the last 12 months through March 2018, Colombian power demand is up 2.5%, whereas power demand actually fell 1.5% […]

General News

ANI Touts Relaunch of Freight Railway Service Passing Through Antioquia

Medellin Herald April 11, 2018

Colombia’s Agencia Nacional de Infraestructura (ANI, the national infrastructure development agency) announced April 11 the successful relaunch of rail freight transport on a 522-kilometers-long line aiming to link Atlantic ports to the interior — passing through Antioquia on the way. ANI spent COP$212 billion (US$78 million) on the rail-line rehab project, aiming to