Companies

Valores Industriales 2020 Net Income Soars Over 2019

Medellin Herald April 1, 2021

Medellin-based real-estate developer and timber producer Valores Industriales announced March 31 that its full-year 2020 net income soared to COP$14.7 billion (US$4 million), up from a COP$102 billion (US$27.8 million) net loss in 2019. Revenues also rose, to COP$26.5 billion (US$7.2 million),

Companies

Gran Colombia Gold 2020 Adjusted Net Income Rises 21% Year-on-Year

Medellin Herald April 1, 2021

Toronto-based Gran Colombia Gold (GCG) – Colombia’s biggest gold miner, mainly in Antioquia – on March 31 reported a 21% jump in 2020 adjusted net income, to US$75.9 milllion, from US$60.5 million in 2019. “The year-over-year improvement in adjusted net income in 2020 largely reflects the positive impact of higher gold prices in 2020, partially […]

Companies

Valores Industriales 2020 Net Income Soars Over 2019

Medellin Herald April 1, 2021

Medellin-based real-estate developer and timber producer Valores Industriales announced March 31 that its full-year 2020 net income soared to COP$14.7 billion (US$4 million), up from a COP$102 billion (US$27.8 million) net loss in 2019. Revenues also rose, to COP$26.5 billion (US$7.2 million), from COP$18 billion (US$4.9 million) in 2019. Valores Industriales (VI) —

Other Norms

Colombia Health Ministry Once Again Reinstates PCR Covid-19 Test Mandate for All International Arrivals

Medellin Herald April 1, 2021

Colombia’s on-again, off-again mandate for all international passenger arrivals to pass a PCR test against Covid-19 is – yes indeed – on again. In an April 1 official bulletin from Colombia’s Health Ministry, the Ministry now insists that all airline passengers must have passed a PCR test within 96 hours of boarding an international flight […]

Companies

Fabricato Posts COP$82 Billion Net Loss for Full Year 2020

Medellin Herald March 31, 2021

Medellin-based textile giant Fabricato on March 30 posted a COP$82 billion (US$22 million) net loss for full year 2020, worse than the COP$17 billion (US$4.6 million) net loss in 2019. Sales revenues fell 21% year-on-year, to COP$272 billion (US$74 million). However, thanks to cost reductions, 2020 earnings before interest, taxes, depreciation and amortization (EBITDA)

Infrastructure

Toyo Tunnel Connection Project Announces 2 Contract Awards

Medellin Herald March 30, 2021

Colombia’s highway agency Invias announced March 30 that it awarded two contracts for road and bridge works that will join with the under-construction “Toyo” tunnel connecting Medellin westward to new and existing Atlantic ports via the “Mar 1” and “Mar 2” highways. Under the deal, Medellin-based highway construction giant Construcciones El Condor won a COP$418 […]

Companies

Grupo Orbis Full-Year 2020 Profits Improve over 2019

Medellin Herald March 29, 2021

Medellin-based Grupo Orbis – manufacturer of “Pintuco” paints, “Andercol” packaging products, “O-Tek” water-handling systems and distributor of “Mundial” hardware products – announced March 25 that its full-year 2020 profits rose 15% year-on-year, to COP$55.7 billion (US$15 million). Gross income dipped slightly year-on-year, to COP$491 billion (US$133 million), according

Companies

Isagen Full-Year 2020 Net Income Matches 2019 Results

Medellin Herald March 29, 2021

Medellin-based electric power producer Isagen announced March 25 that its full-year 2020 net income hit COP$496 billion (US$134 million), almost even with the COP$495 billion (US$133.5 million) profit in 2019. Gross income rose less-than-1% year-on-year, to COP$3.2 trillion (US$863 million), while earnings before interest, taxes, depreciation and amortization (EBITDA)

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 billion) in 2019, as the Covid-19 pandemic generated bad debts. Earnings before

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 […]