Business Companies

Enka Full-Year 2023 Profits Dip 18.6% Year-on-Year

Medellin Herald March 15, 2024

Medellin-based textiles and plastics-recycling giant Enka announced March 14 that its full-year 2023 profits fell 18.6% year-on-year, to COP$20 billion (US$5.14 million), mainly due to “higher financial costs.” Earnings before interest, taxes, depreciation and amortization also fell 14%

Business Companies

Aris Mining Achieves Profitable 2023, Reversing Net Losses in 2022

Medellin Herald March 7, 2024

Vancouver, Canada-based Aris Mining – operator of the giant Segovia gold mine here in Antioquia and the Marmato gold mine in nearby Caldas department – announced March 6 a full-year 2023 net profit of US$11.4 million, up from a US$4.8 million net loss in 2022. Revenues for full-year 2023 also improved, to US$447 million, up […]

Business Companies

Grupo Argos Profits Hit All-Time Record in 2023

Medellin Herald March 2, 2024

Medellin-based multinational Grupo Argos – the holding company for Cementos Argos (cement/concrete), Celsia (electric power) and Odinsa (airport/highways concessionaire) – announced February 23 a record net income for full-year 2023, at COP$789 billion (US$200 million), up 128% year-on-year. Consolidated revenues likewise soared 83% year-on-year, to COP$22.6 trillion

Business Companies

Sura Full-Year 2023 Adjusted Net Income Rises 7% Year-on-Year

Medellin Herald March 1, 2024

Medellin-based multinational insurance, pensions and asset-management giant Grupo Sura announced February 29 a full-yet 2023 adjusted net controlling income of COP$2.3 trillion (US$583 million), up 11.7% year-on-year. Operating revenues rose 22% year-on-year, to COP$35.5 trillion (US$9 billion), with operating profits up 25%, to a record COP$4.6 trillion (US$1.16 billion).

Business Companies

Conconcreto Full-Year 2023 Net Income Plummets 98% Year-on-Year

Medellin Herald February 29, 2024

Medellin-based multinational construction and real-estate giant Conconcreto announced February 28 that its full-year 2023 net income collapsed by 98% year-on-year, to COP$1.02 billion (US$259,700), versus COP$61 billion (US$15.5 million) in 2023. Revenues dipped 9.9% year-on-year, to COP$1.22 trillion (US$310 million), while earnings before interest, taxes, depreciation

Business Companies

Construcciones El Condor Posts Worst-Ever Full-Year Results

Medellin Herald February 29, 2024

Medellin-based highway construction giant Construcciones El Condor announced February 28 a full-year 2023 net loss of COP$259.6 billion (US$65.8 million), “the most difficult year in the history” of the company. The net loss in 2023 is almost four times worse than the COP$69.7 billion (US$17 million) net loss for full-year 2022. Earnings before interest, taxes, […]

Schools

Colegio Theodoro Hertzl School Reports 2 Antisemitic Incidents

Medellin Herald February 28, 2024

Colegio Theodoro Hertzl – a nominally Jewish primary/secondary school in the Medellin suburb of Envigado, well-known for its outstanding scholarship, multiculturalism, peacefulness and tolerance – announced February 27 a pair of antisemitic incidents, but fortunately these didn’t involve violence. According a statement from Hertzl school’s rector, Nidia Londoño

Business Companies

Grupo Éxito Full-Year 2023 Net Profit Jumps 27% Year-on-Year

Medellin Herald February 28, 2024

Medellin-based multinational supermarket giant Grupo Éxito announced February 27 that its full-year 2023 net profit rose 27% year-on-year, to COP$126 billion (US$30 million). Revenues also rose 2.4% year-on-year, to COP $21.1 trillion (US$5.36 billion), or an 8.7% boost if excluding peso-to-dollar exchange-rate effects. Corporate-wide earnings before interest, taxes,

Business Companies

ISA Full-Year 2023 Net Income Jumps 12% Year-on-Year

Medellin Herald February 27, 2024

Medellin-based multinational electric-power transmission, highways and telecom provider ISA announced February 26 that its full-year 2023 net income rose 12% year-on-year, to COP$2.5 trillion (US$635 million). Operating income likewise grew 6% year-on-year, to COP$14.2 trillion (US$3.6 billion), while earnings before interest, taxes, depreciation and amortization (EBITDA)

Business Companies

Grupo Nutresa Full-Year 2023 Net Profits Dip 18% Year-on-Year

Medellin Herald February 23, 2024

Medellin-based multinational processed foods giant Grupo Nutresa announced February 22 that its full-year 2023 net profits declined 18% year-on-year, to COP$739 billion (US$186 million), from COP$903.7 billion (US$228 million) in 2022. Despite the profits dip, total 2023 revenues rose 11% year-on-year, to COP$18.9 trillion (US$4.76 billion), versus COP$17 trillion (US$4.28