Companies

Grupo Argos 1Q 2023 Profits Soar 81% Year-on-Year

Medellin Herald May 11, 2023

Medellin-based Grupo Argos – parent of subsidiaries Cementos Argos (cement/concrete), electric power producer Celsia and highways/airports concessionaire Odinsa – announced May 10 that its first quarter (1Q) net income jumped 81% year-on-year, to COP$570 billion (US$124 million). Earnings

Companies

Bancolombia 1Q 2023 Net Income Down Slightly Year-on-Year

Medellin Herald May 11, 2023

Medellin-based international banking giant Bancolombia announced May 10 that its first quarter (1Q) 2023 net income dipped almost 1% year-on-year, to COP$1.7 trillion (US$369 million). “Annualized return on equity (ROE) at the consolidated level was 17.7% for the latest quarter and 19.0% for the last twelve months,” according to the company. “Gross loans amount to […]

Companies

Aris Mining Posts US$5.4 Million Net Loss for 1Q 2023

Medellin Herald May 11, 2023

Vancouver, Canada-based Aris Mining (formerly Gran Colombia Gold) – owner of one of Colombia’s most productive gold mines at Segovia, Antioquia — announced May 10 a US$5.4 million net loss for first quarter (1Q) 2023, down from a US$5.2 million net profit in 1Q 2022. Gross income from mining operations in 1Q 2023 came-in at […]

Companies

Celsia 1Q 2023 Net Income Drops 26% Year-on-Year

Medellin Herald May 10, 2023

Medellin-based electric power multinational Celsia announced May 9 that its first quarter (1Q) 2023 net income fell 26.3% year-on-year, to COP$122 billion (US$26.8 million) — mainly because of higher financial expenses and government-mandated cuts in power tariffs. Revenues rose 15% year-on-year, to COP$1.5 trillion (US$330 million), while earnings before interest,

Companies

Mineros SA 1Q 2023 Profits Jump 47% Year-on-Year on Insurance Payment

Medellin Herald May 10, 2023

Medellin-based multinational gold miner Mineros SA announced May 9 that its first quarter (1Q) 2023 net income rose 47% year-on-year, to US$15.4 million — all thanks to a one-time insurance payment for accidental destruction of mining equipment at its alluvial operation in Colombia. However, revenues actually declined by 5% year-on-year, to US$118 million, “explained

Companies

Cementos Argos 1Q 2023 Profits Jump 10-Fold Year-on-Year

Medellin Herald May 9, 2023

Medellin-based multinational cement/concrete giant Cementos Argos announced May 9 that its first quarter (1Q) 2023 net income skyrocketed 10-fold year-on-year, hitting COP$118 billion (US$26 million), its best-ever 1Q in history. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) likewise jumped 71% year-on-year, to COP$593 billion (US$131

Companies

EPM 1Q 2023 Net Income Rises 27% Year-on-Year

Medellin Herald May 4, 2023

Medellin-based multinational electric power and utilities giant Grupo EPM announced May 3 that its first quarter (1Q) 2023 net income rose 27% year-on-year, to COP$1.6 trillion (US$346 million). Revenues also rose 22% year-on-year, to COP$9 trillion (US$1.94 billion), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 29%, to COP$2.9

Companies

Grupo Éxito 1Q 2023 Net Income Drops 30% Year-on-Year

Medellin Herald May 3, 2023

Medellin-based multinational supermarket and dry-goods retailer Grupo Éxito announced May 2 that its first quarter (1Q) 2023 net income fell 30% year-on-year, to COP$45 billion (US$9.6million), as its retail food prices failed to keep pace with inflation. Despite the dip in profits, revenues nevertheless rose 18.6% year-on-year, to COP$5.4 trillion (US$1.16 billion),

Companies

ISA 1Q 2023 Net Income Soars 92% Year-on-Year

Medellin Herald May 3, 2023

Medellin-based multinational electric-power-transmission builder-operator, highways concessionaire and telecom provider ISA announced May 3 that its first quarter (1Q) 2023 net income jumped 92% year-on-year, to COP$828 billion (US$177 million). Operating revenues rose 41% year-on-year, to COP$3.9 trillion (US$835 million), while earnings before interest, taxes,

Companies

Cemex LatAm Posts 1Q 2023 Net Loss; Year-on-Year Decline Hits 122%

Medellin Herald May 2, 2023

Colombia-based Cemex LatAm Holdings (CLH) announced May 2 that its first quarter (1Q) 2023 net income fell 122% year-on-year, from a positive US$16 million in 1Q 2022 to a net loss of US$1.05 million in 1Q 2023. Net sales also dipped 2% year-on-year, to US$204.7 million, while operating earnings before interest, taxes, depreciation and amortization […]