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.

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

Other Norms

Medellin Activating Another 176 ICU Beds for Covid-19 Surge; Colombia President Extends Regulatory Measures Through November

Medellin Herald October 29, 2020

Medellin Mayor Daniel Quintero, Antioquia Governor Anibal Gaviria, Colombia Health Minister Fernando Ruiz and Colombia President Ivan Duque jointly announced October 28 more measures to address surging Covid-19 cases in Antioquia and other parts of Colombia. Beyond the upcoming bans on booze, bars and Halloween this weekend, upcoming curfews on children from 6 pm Friday,

Other Norms

Medellin, Antioquia Confront Covid-19 Surge by Banning Booze, Bars, Halloween

Medellin Herald October 27, 2020

Area Metropolitana de Valle de Aburrá (AMVA) – the metro Medellin council of governments – announced October 26 that all local governments except Girardota will impose a curfew on minors (under 18) this Halloween holiday weekend — 6 pm Friday, October 30 through midnight Monday, November 2– and likewise ban all sales of liquor. The […]