General News

OECD Affiliation Boosts International Investor Interest in ‘4G’ Highways: ANI

Medellin Herald June 6, 2018

The Colombian national infrastructure agency (Agencia Nacional de Infraestructura, ANI) announced June 6 that thanks to Colombia’s new entrance into the Organization for Economic Cooperation and Development (OECD), 13 major international funding organizations now aim to invest in “fourth

General News

Update: Hidroituango Construction Restarts Following Suspension; EPM, XM Publish Worst-Case Scenarios

Medellin Herald May 30, 2018

The threat of possible landslides originating in the mountain above EPM’s under-construction, 2.4-gigawatt “Hidroituango” hydroelectric dam in Antioquia had triggered a temporary suspension and evacuation of workers May 29, pending further technical analysis. However, in a 4 p.m. Wednesday, May 30 press conference, EPM announced that further technical analysis revealed no

Editorial

Moderate Conservative Duque Clear Favorite for Colombian President

Medellin Herald May 28, 2018

In the first round of presidential elections May 27, moderate conservative Ivan Duque of the Centro Democratico party won the plurality of votes (39%) among five candidates. Duque will face socialist-populist candidate Gustavo Petro of the “Colombia Humana” party (25% of first-round votes) in the second-round runoff election on June 17. Duque won in 23 […]

Colombian economy

It’s Official: Colombia Joins OECD, World’s Biggest Free-Market Club of Democracies

Medellin Herald May 25, 2018

The Organization for Economic Cooperation and Development (OECD) – the group of the 37 biggest free-market democracies in the world – announced May 25 that Colombia has now completed all main steps to join the group. Formalization of affiliation will take place May 30 in Paris, when President Juan Manuel Santos and OECD Secretary-General Angel […]

General News

EPM Avoids Catastrophe at Hidroituango Hydropower Project

Medellin Herald May 22, 2018

Medellin-based multinational electric power giant EPM announced 12 pm Thursday, May 24 that it finally reached a crucial safety milestone toward eventual completion of its under-construction, 2.4-gigawatt “Hidroituango” hydroelectric dam on the Cauca River, which had been threatened with possible collapse. Over the past three weeks, EPM hurriedly scrambled to raise the dam

Companies

Grupo Sura 1Q 2018 Profits Drop 23.5% Year-on-Year

Medellin Herald May 18, 2018

Medellin-based insurance, pensions and finance giant Grupo Sura announced May 15 that its first quarter (1Q) 2018 consolidated profit fell 23.5% year-on-year, to COP$310 billion (US$108.5 million). Consolidated revenues for the company also dropped 2.2% year-on-year, to COP$4.76 trillion (US$1.66 billion). Despite the corporate-wide dip in revenues and profits, “positive

Companies

‘E-Commerce’ Specialist Cadena Reports Digital Transformation, 40% EBITDA Growth

Medellin Herald May 18, 2018

Medellin-based e-commerce, logistics, warehouse, document security, billing and customer-communications specialist Cadena announced May 17 that its full-year 2017 earnings before interest, taxes, depreciation and amortization (EBITDA) rose 40% year-on-year, with EBITDA margin at 13.4%. Sales also rose to COP$184 billion (US$63 million), while billings for innovative

Companies

Construcciones El Condor Sees 1Q 2018 Profits Drop 86% Year-on-Year

Medellin Herald May 17, 2018

Medellin-based highway and buildings construction specialist Construcciones El Condor announced this month that its first quarter (1Q) 2018 net profits plunged 86% year-on-year, to COP$17.3 billion (US$5.9 million), down from COP$124 billion (US$43 million) in 1Q 2017. Earnings before interest, taxes, depreciation and amortization (EBITDA) likewise fell sharply, to COP$34

Companies

Bancolombia 1Q 2018 Net Profit Dips 14% Year-on-Year

Medellin Herald May 16, 2018

Medellin-based banking giant Bancolombia announced May 15 that its first-quarter (1Q) 2018 net profit dipped 14% year-on-year, to COP$522 billion (US$181.7 million). Gross loans in 1Q 2018 grew 4.1% when compared to 1Q 2017 “and decreased by 1.1% during the quarter,” according to Bancolombia. “This annual growth shows moderation in the credit demand in Colombia, […]

Companies

Grupo Argos Net Profits Jump 53% Year-on-Year

Medellin Herald May 16, 2018

Medellin-based electric power, cement, construction and highway/airport concessionaire Grupo Argos announced May 15 that its first quarter (1Q) 2018 net profits jumped 53% year-on-year, to COP$210 billion (US$73 million). Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 9% year-on-year, to COP$941 billion (US$328 million), while