Companies

Medellin-Based Architectural-Engineering Giant AIA Files for Bankruptcy

Medellin Herald November 20, 2017

Colombia’s corporate oversight agency (Superintendencia de Sociedades) announced November 17 that Medellin-based architectural engineering giant Arquitectos e Ingenieros Asociados (AIA) filed for bankruptcy reorganization because of likely delays in paying creditors next year. According to the

Companies

Grupo Familia 3Q 2017 Profits Dip Year-on-Year

Medellin Herald November 17, 2017

Medellin-based multinational personal-hygiene products maker Grupo Familia announced November 15 that its third quarter (3Q) 2017 net profit dipped to COP$44 billion (US$14.6 million), down from CP$51 billion (US$16.9 million) in 3Q 2017. However, for the first nine months of 2017, Familia’s net profit has more than tripled, to COP$159 billion (US$52.8 million), compared

General News

‘Puerto Antioquia’ Construction Would Start in 2018; Open in 2020

Medellin Herald November 17, 2017

Antioquia Governor Luis Perez announced November 15 the signing of a memo of understanding that would clear the way for starting construction in March 2018 of the US$600 million “Puerto Antioquia” ocean-freight port near Turbo. Signing the memo were the Antioquia departmental government and its Instituto de Desarollo de Antioquia (IDEA) investment agency, France-based CMA

Companies

Grupo Argos 3Q 2017 Net Profit Grows 38%

Medellin Herald November 16, 2017

Medellin-based construction, electric power and cement giant Grupo Argos announced November 14 that its third quarter (3Q) 2017 consolidated net profit grew 38% year-on-year, to COP$452 billion (US$150 million). Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) for 3Q 2017 rose 28% year-on-year, to COP$1.2 trillion (US$398 million).

Companies

Construcciones El Condor Sees 3Q 2017 Profits Soar, but Conconcreto Net Falls

Medellin Herald November 16, 2017

Medellin-based construction giant Construcciones El Condor reported November 14 that its third quarter (3Q) 2017 net income nearly doubled year-on-year, to COP$15 billion (US$4.9 million), from COP$8 billion (US$2.6 million) in 3Q 2016. Operating income also jumped in the latest quarter, to COP$262 billion (US$87 million), from COP$163 billion (US$54 million) in 3Q 2016.

Companies

Exito 3Q 2017 Net Loss Improves Year-on-Year

Medellin Herald November 16, 2017

Medellin-based multinational supermarket giant Grupo Exito reported November 14 that its net loss for third quarter (3Q) 2017 came in at COP$31 billion (US$10 million), a big improvement over the 3Q 2016 net loss of COP$100 billion (US$33 million). Net revenues grew 8.5% year-on-year, to COP$13.9 trillion (US$4.6 billion), while gross profit improved 5.3%, to […]

Companies

Grupo Sura 3Q 2017 Net Income Falls Year-on-Year; Completes Mexico Swap

Medellin Herald November 16, 2017

Medellin-based insurance and pension-fund giant Grupo Sura announced November 15 that its third quarter (3Q) 2017 net income fell 11.6% year-on-year, to COP$460 billion (US$152 million). For the January-through-September nine months 2017, net income fell 26.6% year-on-year, to COP$1 trillion (US$331 million). The decline came “mainly due to a negative impact of the

Companies

Mineros 3Q 2017 Profits Rise 7.46% Year-on-Year; Gran Colombia, Red Eagle Post Losses

Medellin Herald November 14, 2017

Medellin-based gold mining giant Mineros SA reported November 14 that its consolidated third quarter (3Q) 2017 operating income rose 14% year-on-year, to COP$589 billion (US$195 million), while net income rose 7.46%, to COP$91 billion (US$30 million). In its mainly alluvial mining operations in Colombia, Mineros SA’s net income rose a slight 0.7% year-on-year, to COP$93

Companies

Cementos Argos 3Q 2017 Profits Drop 42% Year-on-Year

Medellin Herald November 11, 2017

Medellin-based multinational cement and concrete manufacturer Cementos Argos reported November 10 that its third quarter (3Q) 2017 net income fell 42% year-on-year, to US$22 million, down from US$38 million in 3Q 2016. However, operating income grew 3.9% year-on-year, to COP$2.19 trillion (US$728 million), according to the company. Cement deliveries also grew 16.7%

General News

EPM Buys Rionegro’s ‘E.P. Rio’ Public Utility; Plans Big Water, Sewage-Treatment Investments

Medellin Herald November 9, 2017

Medellin-based multinational utilities giant EPM announced November 9 that it has completed the buyout of 100% of the stock-and-assets of neighboring Rionegro’s “E.P. Rio” public utility, following which EPM aims to invest COP$550 billion (US$183 million) in water-and-sewage infrastructure in coming years. Under the deal – finally approved by Rionegro’s municipal