Companies

Mercado Libre Announces New IT Center in Medellin; 500 Tech Jobs Opening

Medellin Herald March 3, 2021

Argentina-based electronic-commerce giant Mercado Libre announced March 3 that it’s opening a new information technology (IT) center in Medellin — and expects to hire 500 technical professionals here. The new center is the company’s second in Colombia, having opened its first IT center in

Companies

ISA Full-Year 2020 Net Income Rises 46% Year-on-Year

Medellin Herald March 3, 2021

Medellin-based multinational power transmission, highways concessions and telecom services provider ISA announced March 3 that its full-year 2020 net income rose 46.7%, to COP$646 billion (US$175 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 38%, to COP$1.9 trillion (US$516 million), while operating revenues rose 23%, to COP$2.16

Companies

Conconcreto Full-Year 2020 Net Income Drops 64% Year-on-Year

Medellin Herald March 1, 2021

Medellin-based construction giant Conconcreto on March 1 reported a 64% year-on-year drop in 2020 net income, to COP$23.5 billion (US$6.5 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) declined 40%, to COP$102 billion (US$28 million), while revenues likewise declined by 39%, to COP$574 billion (US$158 million). Despite the decline in

Companies

Conconcreto Full-Year 2020 Net Income Drops 64% Year-on-Year

Medellin Herald March 1, 2021

Medellin-based construction giant Conconcreto on March 1 reported a 64% year-on-year drop in 2020 net income, to COP$23.5 billion (US$6.5 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) declined 40%, to COP$102 billion (US$28 million), while revenues likewise declined by 39%, to COP$574 billion (US$158 million). Despite the decline in

Companies

Nutresa Full-Year 2020 Net Income Rises 14% Year-on-Year

Medellin Herald February 27, 2021

Medellin-based multinational foods giant Grupo Nutresa reported February 26 that its full-year 2020 net income rose 14.3% year-on-year, to COP$575 billion (US$158 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 7.2%, to COP$1.44 trillion (US$395 million), while revenue rose 11.7%, to COP$11.1 trillion (US$3.04 billion). Sales in

Companies

Grupo Sura Full-Year 2020 Net Income Drops 80% Year-on-Year

Medellin Herald February 26, 2021

Medellin-based insurance, health care, pensions and investment giant Grupo Sura announced February 26 that its full-year 2020 net income fell 80% year-on-year, to COP$336 billion (US$91 million) as a result of the Covid-19 crisis. Operating revenues dipped 2.3% year-on-year, to COP$20.8 trillion (US$5.6 billion), while operating income fell 44%, to COP$1.6 trillion (US$435

Companies

Construcciones El Condor Full-Year 2020 Profits Dip 14% Year-on-Year

Medellin Herald February 26, 2021

Medellin-based highway construction giant Construcciones El Condor revealed February 25 that its full-year 2020 net income dipped 14% year-on-year, to COP$31 billion (US$8.5 million). Gross revenues also dipped 7% year-on-year, to COP$825 billion (US$226 million), according to the company. Covid-19 shutdowns during March-to-May 2020 caused some of the revenue and profit

Companies

Bancolombia Full-Year 2020 Net Income Plummets 91% on Covid-19 Crisis

Medellin Herald February 25, 2021

Medellin-based multinational banking giant Bancolombia announced February 24 that its full-year 2020 net income fell 91% year-on-year, to COP$276 billion (US$77 million), down from COP$3.1 trillion (US$917 million) in 2019. As for fourth quarter (4Q) 2020, Bancolombia posted a net loss of COP$266 billion (US$74 million), down from COP$878 billion (US$260 million) in 4Q

Companies

Grupo Argos Full-Year 2020 Net Income Drops 87% Year-on-Year

Medellin Herald February 25, 2021

Medellin-based Grupo Argos – parent of cement/concrete giant Cementos Argos, electric power producer Celsia and highway/airport concessionaire Odinsa – on February 24 reported an 87.7% plunge in 2020 net income, to COP$154 billion (US$43 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 30% year-on-year, to COP$3.35 trillion (US$935

Companies

Celsia Full-Year 2020 Adjusted Net Income Rises 68%

Medellin Herald February 24, 2021

Medellin-based multinational electric power giant Celsia on February 23 reported a 68% jump in net income for full-year 2020 — after adjusting for the exclusion of its former 610-megawatt, natural-gas-fired “Zona Franca Barranquilla” power plant sold in September 2019. For the full year 2020, consolidated net income hit COP$338 billion (US$94 million), while adjusted