Companies

UNE-EPM Posts Net Loss for Full-Year 2020 on Covid-19 Problems

Medellin Herald March 29, 2021

Medellin-based telecom, internet and cable-TV giant UNE-EPM revealed a COP$25 billion (US$6.7 million) net loss for full-year 2020, down from a COP$61 million (US$16,500) net profit in 2019. Revenues also dipped slightly, to COP$4.84 trillion (US$1.3 trillion), from COP$4.9 trillion (US$1.32

Companies

Industrias Estra Posts Net Loss for All 2020, but Second-Half Rebound Brightens Outlook

Medellin Herald March 29, 2021

Medellin-based plastics-ware manufacturer and retailer Industrias Estra on March 25 posted a full-year 2020 net loss of COP$1.4 billion (US$377,000), down from a net profit of COP$1.25 billion (US$336,000) in 2019. While the full year 2020 suffered from Covid-19 shutdowns and sales declines, the second half of 2020 produced a rebound, with a net profit […]

Companies

EPM Full-Year 2020 Profits Grow 19% Over 2019

Medellin Herald March 24, 2021

Medellin-based multinational utilities giant EPM announced March 23 that its full-year 2020 profits jumped 19% year-on-year, to COP$3.7 trillion (US$1.02 billion). Earnings before interest, taxes, depreciation and amortization (EBITDA) came-in at COP$5.8 trillion (US$1.6 billion) with an EBITDA margin of 29%, “slightly below the level of 2019, caused by the increase in

Other Norms

Update: Covid-19 Resurgence Prompts ‘Pico y Cedula’ Reimposition March 25 to April 5; Booze Ban 5 pm-5 am Daily

Medellin Herald March 24, 2021

Irresponsible behavior including reckless partying and crowding expected during “Semana Santa” in Antioquia specifically and Colombia generally just prompted Medellin and Antioquia to impose “pico y cedula” shopping restrictions starting Thursday, March 25 through Monday, April 5. Acting Antioquia Governor Luis Fernando Suárez Vélez first announced the new restrictions

Congresses & Conferences

Colombiatex / Colombiamoda to Merge in One Big Medellin Show: July 27-29, 2021

Medellin Herald March 24, 2021

Medellin-based international textile/fashion-industry trade group Inexmoda announced March 23 that the normally separated Colombiatex and Colombiamoda fashion/textile trade shows will be merged this year into one big show July 27-29 – both in-person as well as via internet. “Through an omnichannel mode, Colombiatex+Colombiamoda will offer experiences around business,

Infrastructure

Crucial Pacifico 1-2-3 Highways to Link-Up in 2022; Toyo Tunnel at 50%; Vias del Nus at 85%

Medellin Herald March 19, 2021

Agencia Nacional de Infraestructura (ANI, Colombia’s infrastructure agency) revealed today (March 19) that the new Pacifico 1, 2 and 3 highways linking Medellin southwestward toward the Pacific port of Buenaventura will open for traffic in 2022 — ahead of schedule. “Next year, the three Pacific highways will be in the service of a whole country,” […]

Other Norms

Big Investment Opportunities Opening: Colombia Expands Free-Trade Zones

Medellin Herald March 16, 2021

Colombia President Ivan Duque and Commerce Minister José Manuel Restrepo jointly announced March 15 in a nationally televised address that Colombia has just expanded and improved investment opportunities for new and existing free-trade zones. “Through Decree 278 of March 15, 2021, the competitiveness of this investment promotion instrument in the country will be improved,”

Health & Insurance.

Colombia Exceeding 1 Million Covid-19 Vaccinations This Week; April Surge Coming

Medellin Herald March 15, 2021

Colombia Health Minister Fernando Ruiz revealed this morning (March 15) that more than 1 million people nationally will have received their first shot of Covid-19 vaccine this week, with 1.8 million likely by end-March. As of March 13, 782,301 Colombians had gotten a Covid-19 shot since the vaccination campaign started 25 days ago, of which […]

Other Norms

Update: Migracion Colombia Awaits Health Ministry Order Overturning PCR Test Mandate for Air Travelers to Colombia

Medellin Herald March 12, 2021

Colombia’s border control agency Migracion Colombia announced March 13 that it’s still awaiting an official order from the Health Ministry that would enable immediate cancellation of the existing Covid-19 PCR test mandate for all international air passenger arrivals to Colombia. Until Migracion Colombia receives that order, arriving passengers still must pass a

Companies

Compañia de Empaques Full-Year 2020 Net Income Jumps 36% Year-on-Year

Medellin Herald March 11, 2021

Medellin-based packaging manufacturer and exporter Compañia de Empaques announced March 10 that its full-year 2020 net income rose 36% year-on-year, to COP$20 billion (US$5.7 million). Gross income in 2020 also rose to COP$478 billion (US$136 million), up from COP$457 billion (US$130 million) in 2019, according to the company. Compañia de Empaques specializes in the