Business Companies

Sura 3Q 2024 Profits Grow 17.8% Year-on-Year

Medellin Herald November 16, 2024

Medellin-based multinational insurance and asset-management giant Grupo Sura announced November 14 that its third quarter (3Q) 2024 net income rose 17.8% year-on-year, to COP$534 billion (US$120 million), from COP$453 billion (US$102 million) in 3Q 2023. For nine-months 2024, Grupo Sura

Business Companies

Conconcreto 3Q 2024 Net Income More-Than-Doubles Year-on-Year

Medellin Herald November 16, 2024

Medellin-based construction giant Conconcreto announced November 13 that its third quarter (3Q) 2024 net income jumped by 293% year-on-year, to COP$238 billion (US$53.7 million). “Despite the current macroeconomic context — characterized by low growth in the Colombian economy, especially in the construction sector, and a slower-than-expected decline in inflation and

Business Companies

Tigo-UNE Posts 3Q 2024 Net Profit, but Outlook Still Dim

Medellin Herald November 16, 2024

Medellin-based internet/cell-phone/cable-TV giant Tigo-UNE – half-owned by Luxembourg-based Millicom – announced November 14 a COP$18.7 billion (US$4 million) net profit for third quarter (3Q) 2024, a sharp improvement from the COP$172 billion (US$38.7 million) net loss in 3Q 2023. Revenues also rose slightly, to COP$1.35 trillion (US$304.4 million), from COP$1.349

Business Companies

IMSA Posts Net Loss for 3Q 2024, but Nine-Months 2024 Results Improve

Medellin Herald November 16, 2024

Medellin-based multinational chemicals, food additives and consumer-products giant Grupo IMSA reported a COP$6.5 billion (US$1.46 million) net loss for third quarter (3Q) 2024, down from a COP$16 billion (US$3.6 million) net profit in 3Q 2023. However, for the first nine months of 2024 (January through September), net profits from continuing operations have

Business Companies

Grupo Éxito Posts 3Q 2024 Net Loss

Medellin Herald November 16, 2024

Medellin-based multinational supermarket/dry-goods retailer Grupo Éxito on November 13 posted a COP$34.7 billion (US$7.8 million) net loss for third quarter (3Q) 2024 — slightly worse than its COP$31.7 billion (US$7.1 million) net loss in 3Q 2023. Revenues improved slightly (up 2.2%) year-on-year, at COP$4.99 trillion (US$1.12 billion) in 3Q 2024, versus COP$4.91

Business Companies

Enka 3Q 2024 Net Income Drops 39% Year-on-Year

Medellin Herald November 9, 2024

Medellin-based textiles and plastics-recycling specialist Enka announced November 8 that its third quarter (3Q) 2024 net income fell 39% year-on- year, to COP$1.77 billion (US$406,000), from COP$2.9 billion (US$6.65 million) in 3Q 2023. Revenues also fell 6% year-on-year, to COP$123 billion (US$28 million), from COP$131 billion (US$30 million) in 3Q 2023. On the other

Business Companies

Bancolombia 3Q 2024 Net Income Flat Year-on-Year

Medellin Herald November 8, 2024

Medellin-based multinational banking giant Bancolombia announced November 7 that its third quarter (3Q) 2024 net income remained essentially flat year-on-year, at COP$1.49 trillion (US$343 million), up just 0.6%. While the year-on-year profits came-in almost unchanged, the 3Q 2024 results still are up 4.3% compared to second quarter (2Q) 2024, according to the company.

Business Companies

Cementos Argos 3Q 2024 Profits Fall 37% Year-on-Year

Medellin Herald November 8, 2024

Medellin-based multinational cement/concrete giant Cementos Argos announced November 7 that its third quarter (3Q) 2024 net profits fell 37% year-on-year, to COP$156 billlion (US$36 million), from COP$250 billion (US$58 million) in 3Q 2023. Revenues in 3Q 2024 rose slightly — by 1.45% year-on-year — to COP$1.33 trillion (US$308 million), while earnings before

Business Companies

Celsia 3Q 2024 Net Income Jumps 35% Year-on-Year

Medellin Herald November 5, 2024

Medellin-based electric power producer Celsia announced November 5 a 35% year-on-year jump in third quarter (3Q) 2024 net income, to COP$110 billion (US$25 million), from COP$81 billion (US$18 million) in 3Q 2023. However, 3Q 2024 revenues dipped 4.9% year-on-year, to COP$1.4 trillion (US$317 million), while earnings before interest, taxes, depreciation and amortization

Business Companies

EPM 3Q 2024 Net Income Grows 12% Year-on-Year

Medellin Herald November 5, 2024

Medellin-based multinational electric power and utilities giant EPM Group announced November 5 that its third quarter (3Q) 2024 net income rose 12% year-on-year, to COP$3.8 trillion (US$861 million), with subsidiaries and affiliates accounting for 19% of the total. Revenues also rose 10% year-on-year, to COP$30 trillion (US$6.8 billion), while earnings before interest,