Business Companies

Grupo Éxito Full Year 2024 Profits Fall 57% Year-on-Year

Medellin Herald February 27, 2025

Medellin-based multinational supermarket giant Grupo Éxito announced February 26 that its full-year 2024 net income dropped 57% year-on-year, to COP$54.7 billion (US$13 million), versus COP$126 billion (US$30 million) in 2023. Despite the profits drop, sales revenues rose 3.2% year-on-year, to

Business Companies

Grupo Nutresa Full-Year 2024 Net Income Up 3.5% Year-on-Year

Medellin Herald February 21, 2025

Medellin-based multinational foods giant Grupo Nutresa reported February 20 a 3.5% year-on-year hike for full-year 2024 net income, hitting COP$751 billion (US$184 million). Revenues dipped 1.7% year-on-year, to COP$18.6 trillion (US$4.55 billion), according to the company. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 7.8% year-on-year, to

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Bancolombia Full-Year 2024 Profits Rise Year-on-Year

Medellin Herald February 20, 2025

Medellin-based multinational banking giant Bancolombia announced February 19 that its full-year 2024 net income rose 2.4% year-on-year, to COP$6.26 trillion (US$1.52 billion). Fourth quarter (4Q) 2024 net income also rose 10.8% compared to third quarter (3Q) 2024, hitting COP$1.7 trillion (US$414 million), according to the company. Annualized return on equity (ROE) for

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Mineros Full-Year 2024 Net Profits Quadruple Year-on-Year

Medellin Herald February 16, 2025

Medellin-based international gold miner Mineros SA on February 14 reported a 403% year-on-year jump in net profits for full-year 2024, hitting US$86.5 million, from US$17 million in 2023. Revenues rose 20% year-on-year, to US$538 million, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 22% year-on-year, to US$210 million,

Business Companies

‘Colombiatex 2025’ Textile-Fashion Industry Show Here Marks Records

Medellin Herald January 31, 2025

Medellin-based textile/clothing industry group Inexmoda announced January 30 that the just-concluded, 37th annual “Colombiatex” trade show at Plaza Mayor here drew more than 29,000 visitors and 17,800 national and international buyers. Medellin and its immediate suburbs have been the center of Colombia’s textile manufacturing, clothing design and final production for

Business Companies

Celsia Full-Year 2024 Net Profits Dip 26% Year-on-Year

Medellin Herald January 30, 2025

Medellin-based electric power producer Celsia announced January 29 that its full-year 2024 net profits fell 26% year-on-year, to COP$325 billion (US$78 million). Revenues rose 15%, to COP$6.5 trillion (US$1.56 billion), according to the company, a división of Grupo Argos. Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 14% year-on-year, to

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Hidroituango Contractors Absolved From Disastrous Tunnel Collapse

Medellin Herald December 11, 2024

An international arbitration tribunal announced December 10 that the three main contractors at the US$5 billion, 2.4-gigawatt “Hidroituango” hydroelectric dam here in Antioquia were not responsable for the 2018 collapse of a diversión tunnel that ultimately delayed power output by nearly four years and added roughly US$1 billion to project costs. The Colombian Chamber of

Business Companies

Mineros SA 3Q 2024 Net Income Jumps 188% Year-on-Year

Medellin Herald November 17, 2024

Medellin-based multinational gold miner Mineros SA announced November 14 that its third quarter (3Q) 2024 net income jumped 188% year-on-year, to US$28.5 million, from US$13 million in 3Q 2023. Revenues rose 39%, to US$141 million, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 88%, to US$62.9 million, up from US$33 million in

Business Companies

Grupo Argos 3Q 2024 Profits Jump 34% Year-on-Year

Medellin Herald November 17, 2024

Medellin-based Grupo Argos – the holding company of cement/concrete multinational Cementos Argos, electric power giant Celsia and highways/airports concessionaire Odinsa – on November 14 reported a 34% year-on-year jump in third quarter (3Q) 2024 net income, at COP$494 billion (US$111 million). Revenues also rose 8% year-on-year, to COP$3.3 trillion (US$741 million) in 3Q

Business Companies

Isagen 3Q 2024 Profits Soar 84% Year-on-Year

Medellin Herald November 17, 2024

Medellin-based renewable electric-power-generation giant Isagen announced November 13 a third quarter (3Q) 2024 net income of COP$288 billion (US64.6 million) — an 84% jump over 3Q 2023. For the latest quarter, revenues rose 19% year-on-year, to COP$1.58 trillion (US$354 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 29%,