Companies

Gran Colombia Gold 1Q 2021 Profits Nearly Match 1Q 2020

Medellin Herald May 14, 2021

Toronto-based Gran Colombia Gold (GCC) – operator of Colombia’s biggest gold mine at Segovia, Antioquia – on May 13 announced US$21.2 million in adjusted net income for first quarter (1Q) 2021, up slightly from US$21.2 million in 1Q 2020. The year-over-year improvement in adjusted net income

Schools

Free College Tuition Debuts for 97% of Colombians This Year

Medellin Herald May 12, 2021

Colombia President Ivan Duque announced May 11 that the government has just decided to extend tuition-free college education for 97% of students attending public universities and technical colleges here, starting the second half of 2021. The historic move puts Colombia way ahead of many nations — including the relatively wealthy United States — by eliminating

Companies

Celsia 1Q 2021 Net Income Jumps 33% Year-on-Year

Medellin Herald May 12, 2021

Medellin-based electric power giant Celsia announced May 11 that its first quarter (1Q) 2021 net income rose 33% year-on-year, to COP$115.7 billion (US$31 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 1.7% year-on–year, to COP$336 billion (US$90 million), with an EBITDA margin of 34.3%. “By regions, in the first quarter,

Companies

Cementos Argos 1Q 2021 Profits Skyrocket 1,227% Year-on-Year

Medellin Herald May 11, 2021

Medellin-based multinational cement/concrete giant Cementos Argos announced May 10 that its first quarter (1Q) 2021 net profit soared 1,227% year-on-year, to COP$55 billion (US$14.8 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) likewise rose 30% year-on-year, to COP$445 billion (US$120 million). Gross revenues rose 6.3%, to COP$2.3

Companies

Mineros SA 1Q 2021 Net Income Dips 14% Year-on-Year

Medellin Herald May 11, 2021

Medellin-based multinational gold mining giant Mineros SA announced May 10 that its first quarter (1Q) 2021 net income dipped 14% year-on-year, to US$13.8 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 7% year-on-year, to US$45.1 million, while gross revenues rose 8%, to US$125.4 million, according to the company. The revenue hike

Health & Insurance.

Colombia Updates Covid-19 Vaccination Rollout Plan as Shot Rate Accelerates

Medellin Herald May 9, 2021

Colombia’s Health Ministry announced May 8 a new, updated Covid-19 vaccination plan on the heels of accelerating vaccination rates – now topping 200,000 daily, likely meaning that more than 10 million Colombians will have had at least one shot by the end of May 2021. The plan adjustments “were made based on scientific evidence, which […]

General News

Update: Antioquia, Medellin Ease Covid Restrictions for May 10-May 17; Medellin-Bogota Highway Now Unblocked

Medellin Herald May 9, 2021

Antioquia Acting Governor Luis Fernando Suárez announced  May 9 that starting Monday, May 10 through Monday, May 17, a 10-pm to 5-am daily curfew and booze-sales ban will replace the stricter Covid-19 curfew/quarantine standards of the past three weeks. “Pico y cedula” shopping restrictions will switch to odd/even-numbered days tied to cedulas ending in odd […]

Companies

ISA 1Q 2021 Net Income Jumps 32% Year-on-Year

Medellin Herald May 7, 2021

Medellin-based multinational electric power transmission giant ISA on May 6 announced a 32.4% year-on-year jump in first quarter (1Q) 2021 net income, to COP$508 billion (US$135 million). Operating revenues also rose 14% year-on-year, to COP$2.4 trillion (US$638 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 14.3%, to COP$1.5

Companies

Fabricato 1Q 2021 Net Loss an Improvement over 1Q 2020

Medellin Herald May 6, 2021

Medellin-based textile giant Fabricato revealed May 5 in a filing with Colombia’s Superfinanciera oversight agency that it posted a COP$2.27 billion (US$598,000) net loss for first quarter (1Q) 2021, an improvement over the COP$9 billion (US$2.37 million) net loss in 1Q 2020. Earnings before interest, taxes, depreciation and amortization (EBITDA) in its main textile

Companies

Bancolombia Posts 61% Year-on-Year Gain in 1Q 2021 Net Income

Medellin Herald May 5, 2021

Medellin-based multinational banking giant Bancolombia on May 4 reported a COP$542 billion (US$141 million) net profit for first quarter (1Q) 2021, up 61% over the COP$335 billion (US$87 million) net profit in 1Q 2020. Net interest income in the latest quarter totaled COP$282 billion (US$73 million), up 26% over 4Q 2020 but down 3% from […]