Companies

Gran Colombia Gold 3Q 2020 Profits Jump Year-on-Year

Medellin Herald November 12, 2020

Toronto-based Gran Colombia Gold – whose principal mining operations are in Antioquia – announced November 11 that its third quarter (3Q) adjusted net income rose to U.S$29.5 million, up from US$16 million in 3Q 2019. As for the first nine months of 2020, adjusted net income rose to US$68.2

Companies

Cementos Argos 3Q 2020 Net Income Doubles Year-on-Year

Medellin Herald November 11, 2020

Medellin-based multinational cement/concrete giant Cementos Argos reported November 10 in a filing with Colombia’s Superfinanciera oversight agency that its third quarter (3Q) 2020 net income more-than doubled year-on-year, to COP$73 billion (US$20 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) also rose 9% year-on-year, to COP$479

Companies

Orbis 3Q 2020 Net Income Rises 12% Year-on-Year

Medellin Herald November 11, 2020

Medellin-based multinational paints, chemicals, piping and hardware giant Grupo Orbis announced November 10 that its third quarter (3Q) 2020 net income rose 12% year-on-year, to COP$14.6 billion (US$4 million), excluding the effect of the sale of a non-operating property in Central America. Orbis brands include Pintuco paints, Andercol chemicals, O-tek piping and Mundial

Colombian economy

Colombia GDP Growth Seen Rebounding to 4.9% in 2021; Wall Street, President Duque Like U.S. President-Elect Biden

Medellin Herald November 9, 2020

Wall Street bond rater Fitch Ratings announced November 6 that Colombia’s gross domestic product (GDP) is likely to rebound to a positive 4.9% in 2021, up from the Coronavirus-caused 6.9% GDP contraction this year. Meanwhile, bond ratings on Colombian sovereign debt remain at a modest “BBB-” with a continuing negative outlook because of the hangover […]

Companies

ISA 3Q 2020 Net Income Jumps 19% Year-on-Year

Medellin Herald November 6, 2020

Medellin-based multinational electric-power transmission, highway concessionaire and telecom infrastructure giant ISA announced November 5 that third quarter (3Q) net income rose 19% year-on-year, to COP$483 billion (US$128 million). Operating revenues for the latest quarter jumped 21% year-on-year, to COP$2.4 trillion (US$638 million). Earnings before interest, taxes,

Companies

Celsia 3Q 2020 Adjusted Net Income Rises 16% Year-on-Year

Medellin Herald November 5, 2020

Medellin-based electric power giant Celsia announced November 5 that its third quarter (3Q) adjusted net income rose 16% year-on-year, to COP$59 billion (US$15.7 million). Consolidated revenues for 3Q 2020 rose 2% year-on- year. However, consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) declined 22%, to COP$201 billion (US$53.5 million).

Other Norms

PCR Covid-19 Test Abolished for Airline Travelers to Colombia

Medellin Herald November 5, 2020

Colombia’s Ministry of Health announced November 4 that it has decided to eliminate a prior requirement that all airline travelers to Colombia must obtain a negative Covid-19 result from a PCR test within 96 hours of boarding an international flight. “New conditions to enter the country by air eliminate the requirement of having a negative […]

Companies

Fabricato 3Q 2020 Net Loss Trimmed by 75% Year-on-Year

Medellin Herald November 3, 2020

Medellin-based textile giant Fabricato announced November 3 in a filing with Colombia’s Superfinanciera oversight agency that its third quarter (3Q) 2020 net loss came-in at COP$3.29 billion (US$861,000), a 75% improvement over the COP$13.27 billion (US$3.47 million) net loss in 3Q 2019. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose to

Companies

Nutresa 3Q 2020 Net Income Rises Year-on-Year

Medellin Herald October 31, 2020

Medellin-based multinational prepared-foods giant Grupo Nutresa announced October 30 that its third quarter (3Q) net income rose 7% year-on-year, to COP$142 billion (US$36.6 million). Operating income also rose, to COP$2.8 trillion (US$722 million) in 3Q 2020 versus COP$2.5 trillion (US$645 million) in 3Q 2019. For the first nine months of 2020 (through September),

Companies

Éxito 3Q 2020 Profits Soar 369% Year-on-Year; ‘Sustainable Livestock’ Initiative Launches

Medellin Herald October 29, 2020

Medellin-based multinational supermarket and home-products giant Grupo Exito announced October 28 that its third quarter (3Q) 2020 net profits jumped by 369% year-on-year, to COP$52 billion (US$13.5 million). On the other hand, recurring earnings before interest, taxes, depreciation and amortization (EBITDA) actually dipped 9.4% year-on-year, although sales rose a modest