Companies

EPM Wins ‘CaribeMar’ Utility Auction, Becomes Colombia’s Biggest Electric Power Player

Medellin Herald March 20, 2020

Medellin-based multinational electric power giant EPM announced March 20 that it won the auction bidding for the “CaribeMar” assets formerly belonging to the financially troubled, state-owned “Electricaribe” power utility around the Caribbean coast of Colombia. As a result, EPM “will be the new

General News

Update: Medellin, Colombia Learning to Cope with Coronavirus; Even Nationals Banned from Returning for 30 Days

Medellin Herald March 19, 2020

Medellin and Colombia today face the same issues with Coronavirus as the entire planet — and coping steps being taken here are virtually identical to every other nation and major city. As of March 16, all foreigners have been banned from travelling to Colombia — until further notice. What’s more, starting this weekend (the last […]

Companies

ISA Full-Year 2019 Net Income Rises 7.5% Year-on-Year

Medellin Herald March 5, 2020

Medellin-based multinational electric power transmission, highways concessions and telecom service provider ISA announced March 4 that its full-year 2019 net income rose 7.5% year-on-year, to COP$1.6 trillion (US$457 million). Revenues rose 12.5% year-on-year, to COP$8.1 trillion (US$2.3 billion), while earnings before interest, taxes, depreciation and amortization

Colombian economy

Foreign Direct Investment in Colombia Jumps 25% Year-on-Year; Exports Hit Record

Medellin Herald March 4, 2020

Colombia’s Ministry of Commerce, Industry and Tourism (“MinCIT”) announced March 3 that Colombia’s exports of goods and services in 2019 hit a record US$25.29 billion, while foreign direct investment (FDI) in Colombia soared 25.6% year-on-year, to US$14.49 billion. FDI in the commerce, restaurants and hotels sector jumped by 85.7% year-on-year, according to Banco de

Companies

Mineros SA 2019 Profits Dip Year-on-Year Due to Argentina Acquisition-Cost Calculation

Medellin Herald March 4, 2020

Medellin-based multinational gold mining giant Mineros SA on March 4 reported a 27% year-on-year profits drop for full-year 2019 — due to an accounting calculation for costs of its Argentinian mining acquisition, which it got at a relatively favorable price in 2018. Full-year 2019 net income came-in at COP$123 billion (US$35.6 million), with the dip […]

Companies

Conconcreto Full-Year 2019 Profits Dip 11% Year-on-Year

Medellin Herald March 2, 2020

Medellin-based highway, tunnel and buildings-construction giant Constructora Conconcreto on March 2 reported an 11% decline year-on-in full-year 2019 profits, to COP$64.8 billion (US$18 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) also dipped 13%, to COP$170 billion (US$48 million), while gross revenues fell 12%, to COP$945 billion

Companies

‘Avianca Express’ Launches in Return to Medellin’s Downtown Olaya Herrera Airport

Medellin Herald March 2, 2020

Colombia-based aviation giant Avianca announced February 13 the launch of its new “Avianca Express” division for new routes including flights from Medellin’s downtown Olaya Herrera airport (EOH). Absent from EOH for 20 years, “Avianca Express” soon will launch flights utilizing ATR-72 propeller aircraft to and from downtown Medellin — initially serving Quibdó,

Companies

Sura Full-Year 2019 Net Income Jumps 27.9% Year-on-Year; Hits All-Time Record

Medellin Herald February 28, 2020

Medellin-based multinational insurance, pensions and finance giant Grupo Sura on February 27 reported a full-year 2019 27.9% hike in net income year-on-year, to COP$1.7 trillion (US$523.8 million) – an all-time high. Revenues also rose 13.3% year-on-year, to COP$21.9 trillion (US$6.68 billion), while expenses rose less — by 12.3%. While Sura’s corporate-wide,

Companies

Construcciones El Condor Full-Year 2019 Profits Dip 37% Year-on-Year

Medellin Herald February 28, 2020

Medellin-based highway construction giant Construcciones El Condor on February 27 reported a 37% decline in full-year 2019 profits, to COP$73 billion (US$20.6 million) – principally due to a COP$74 billion (US$20.8 million) temporary write-down of its participation in the “Vías de las Américas” highway project. Full-year 2019 revenues from ordinary activities totaled

Companies

Nutresa Full-Year 2019 Profits Rise 5.2% Year-on-Year

Medellin Herald February 22, 2020

Medellin-based multinational foods manufacturer Grupo Nutresa on February 21 reported a 5.2% year-on-year net income boost for full-year 2019, to COP$513 billion (US$152 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 13.5% year-on-year, to COP$1.3 trillion (US$385 million), while sales jumped 10.5% to COP$9.9 trillion (US$2.9