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

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 […]

Companies

Grupo Exito 1Q 2021 Net Income Quadruples Year-on-Year

Medellin Herald May 5, 2021

Medellin-based multinational supermarket and dry-goods retailer Grupo Exito on May 4 reported a four-fold jump in net income for first quarter (1Q) 2021, to COP$84.8 billion (US$22 million), versus COP$21.9 billion (US$5.7 million) in 1Q 2020. Recurring earnings before interest, taxes, depreciation and amortization (EBITDA) rose 16.7% year-on-year, to COP$306 billion

Other Norms

Antioquia, Medellin Continue Covid Restrictions to May 11

Medellin Herald May 3, 2021

Antioquia Acting Governor Luis Fernando Suarez announced just after noon today (Monday, May 3) that current travel and shopping restrictions will continue tomorrow (Tuesday, May 4) through at least Tuesday, May 11 because of continuing excessive Covid-19 infections. Under the latest control scheme, “pico y cedula” shopping limits are reimposed on Tuesday, May 4, enabling

Companies

PharmaCielo 2020 Losses Worsen Year-on-Year

Medellin Herald May 3, 2021

Toronto-based PharmaCielo – owner of a medical-marijuana production and processing facility in the eastern Medellin suburb of Rionegro – on May 3 posted a full-year 2020 net loss of Cdn$43.7 million (US$35.6 million), worse than the Cdn$34.7 million (US$28 million) loss in 2019. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) came in at

Companies

Nutresa 1Q 2021 Profits Jump 20.6% Year-on-Year

Medellin Herald May 1, 2021

Medellin-based multinational foods manufacturing and retailing giant Grupo Nutresa reported April 30 that its first quarter (1Q) 2021 net profit rose 20.6% year-on-year, to COP$233 billion (US$62 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) also rose by 5.7%, to COP$397.5 billion (US$106 million), while sales rose 6.6%, to COP$2.8

Companies

Cemex LatAm Posts 1Q 2021 US$3.8 Million Net Profit, up from Net Loss in 1Q 2020

Medellin Herald April 29, 2021

Colombia-based Cemex LatAm Holdings reported a US$3.8 million net profit for first quarter (1Q) 2021, up sharply from a US$30.4 million net loss in 1Q 2020. “Consolidated net sales during the first quarter of 2021 increased 7% on a like-for-like basis adjusted for currency fluctuations, compared to the first quarter of 2020,” according to the […]