Business Companies

ISA 2Q 2023 Net Income Up 3% Year-on-Year

Medellin Herald August 1, 2023

Medellin-based multinational electric-power transmission, highways concessionaire and telecom provider ISA announced August 1 that its second quarter (2Q) 2023 net income rose 3% year-on-year, to COP$694 billion (US$173 million). “This increase is mainly due to the entry-into-operation of

Companies Business

Grupo Exito Posts Net Loss For 2Q 2023, Reversing Prior-Year Gains

Medellin Herald August 1, 2023

Medellin-based multinational supermarket and dry-goods retailer Grupo Exito on July 31 posted a COP$6.2 billion (US$1.54 million) net loss for second quarter (2Q) 2023, down from a net profit of COP$62 billion (US$15.4 million) in 2Q 2023. Despite the net loss, consolidated net revenue grew by 8.5% year-on-year, hitting COP$5.1 trillion (US$1.26 billion), “driven by […]

Companies Business

Nutresa 2Q 2023 Net Profit Falls 34% Year-on-Year; Takeover Deal Nears Finalization

Medellin Herald July 29, 2023

Medellin-based multinational foods manufacturer-marketer Grupo Nutresa announced July 28 that its second quarter (2Q) 2023 net profit fell 34.5% year-on-year, to COP$140 billion (US$35.7 million). However, 2Q 2023 earnings before interest, taxes, depreciation and amortization (EBITDA) actually rose 11.8% year-on-year, to COP$539 billion (US$138 million), while operating

Companies

Sura 1Q 2023 Net Income Jumps 94% Year-on-Year

Medellin Herald May 16, 2023

Medellin-based multinational insurance, health care and asset management giant Grupo Sura announced May 15 that its first quarter (1Q) 2023 consolidated net income rose 94% year-on-year, hitting a quarterly record of COP$834 billion (US$185 million). Gross revenues likewise rose 39% year-on-year, to COP$9.6 trillion (US$2.1 billion), according to the company. Citing the

Companies

Construcciones El Condor Posts COP$31 Billion Net Loss in 1Q 2023

Medellin Herald May 15, 2023

Medellin-based highway construction giant Construcciones El Condor on May 12 posted a COP$31.6 billion (US$6.8 million) net loss for first quarter (1Q) 2023, more than triple the COP$9.2 billion (US$2.03 million) net loss in 1Q 2022. However, revenues from ordinary activities rose 36% year-on-year, totaling COP$219 billion (US$48.3 million), versus COP$151 billion (US$33.3

Companies

Enka 1Q 2023 Net Income Drops 66% Year-on-Year

Medellin Herald May 15, 2023

Medellin-based textiles and plastics-recycling giant Enka announced May 12 that its first quarter (1Q) 2023 net income dropped 66% year-on-year, to COP$4.59 billion (US$1.01 million), versus COP$13.8 billion (US$3.05 million) in 1Q 2022. Revenues likewise slipped to COP$146 billion (US$32.3 million), versus COP$156 billion (US$34.5 million) in 1Q 2022. Earnings before

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 before interest, taxes, depreciation and amortization (EBITDA) likewise rose 28%, to

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,