Companies

Celsia 3Q 2019 Net Income Nearly Quadruples Year-on-Year on Free-Zone Plant Sale

Medellin Herald November 8, 2019

Medellin-based electric power giant Celsia announced November 7 that its third quarter (3Q) 2019 net income soared by 390% year-on-year, to COP$315.6 billion (US$94 million), thanks to an extraordinary US$420 million gain from the sale of its 447-megawatts “Free Zone” (Zona Franca)

Companies

Bancolombia 3Q 2019 Net Income Jumps 61.7% Year-on-Year

Medellin Herald November 8, 2019

Medellin-based multinational banking giant Bancolombia announced November 6 that its third quarter (3Q) 2019 net income rose 61.7% year-on-year, to COP $879 billion (US$263 million). “Gross loans grew 11.7% when compared to 3Q 2018 and 3.4% during the [latest] quarter,” according to Bancolombia. “The quarterly growth shows a moderate trend in the credit demand in […]

General News

EPM Debuts Hidroituango Highway, Touts Social Reconstruction Projects

Medellin Herald November 8, 2019

Medellin-based electric power giant EPM on November 8 debuted a new, 550-meters-long highway atop its US$5 billion “Hidroituango” hydroelectric dam – and almost simultaneously highlighted numerous social reconstruction projects in communities affected by a May 2018 flood downstream of the dam. The highway on top of the new dam — which spans the Cauca River […]

Companies

ISA 3Q 2019 Net Income Dips 1.7% Year-on-Year

Medellin Herald November 8, 2019

Medellin-based electric power transmission, highways concessions and telecom services giant ISA announced November 6 that its third quarter (3Q) net income dipped 1.7% year-on-year, to COP$406 billion (US$122 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) for 3Q 2019 also declined 10.7% year-on-year, to COP$1.24 trillion (US$371 million),

Companies

Cartama Exports First-Ever Hass Avocado Shipments to Japan

Medellin Herald November 8, 2019

Medellin-based avocado producer/exporter Cartama announced November 7 its first-ever exports of Hass avocados from its Pereira (Risaralda department) operations to Japan. Cartama – founded in the year 2000 with its first plantations in Amagá, Antioquia – gradually has expanded Colombian operations to Caldas and Risaralda departments, including a packing plant in Pereira.

Companies

Fabricato 3Q 2019 Sales Rise Year-on-Year, but Net Loss Worsens

Medellin Herald November 1, 2019

Medellin-based textile giant Fabricato on October 31 reported a third quarter (3Q) 2019 net loss of COP$13 billion (US$3.8 million), worse than the COP$9 billion (US$2.67 million) net loss in 3Q 2018. However, earnings before interest, taxes, depreciation and amortization (EBITDA) improved year-on-year, to COP$3 billion (US$891,000), versus COP$909 million (US$270,000) in

Companies

Corona, Cementos Molins Debut US$380 Cement Plant in Antioquia

Medellin Herald October 31, 2019

Spain-based Cementos Molins and Colombia-based multinational construction-materials producer and retailer Corona announced October 30 the start-up of their US$380 million, 1.5-million-tons/year, 50-50 joint venture “Empresa Colombiana de Cementos” (Ecocementos) cement plant near Sonson, Antioquia, east of Medellin. Commenting on the start-up, Cementos Molins spokesman

General News

Medellin Voters Elect Independent Daniel Quintero Calle for Mayor; Former Governor, Mayor Anibal Gaviria Repeats as Antioquia Governor

Medellin Herald October 28, 2019

Voters in Medellin and the surrounding Antioquia department on October 27 continued a long tradition of electing relatively young, energetic, politically moderate mayors along with older, more-experienced governors who are more interested in delivering practical, concrete results rather than poseurs flaunting left-wing or right-wing flamboyance. Relative newcomer Daniel

Companies

Nutresa 3Q 2019 Net Profit Grows 6.9% Year-on-Year

Medellin Herald October 26, 2019

Medellin-based multinational foods giant Grupo Nutresa on October 25 reported that third quarter (3Q) 2019 net profits grew 6.9% year-on-year, to COP$412 billion (US$121 million). Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) likewise rose 18% year-on-year, to COP$992 billion (US$292 million), while margin on sales grew by 13.8%,

Companies

Cemex Colombia 3Q 2019 Cement Sales Grow, but Profits Dip

Medellin Herald October 25, 2019

Colombia-based Cemex LatAm Holdings announced October 24 that its third-quarter (3Q) 2019 sales of grey cement grew year-on-year, but profits declined. According to Cemex LatAm – which produces and markets concrete and cement in Colombia, Panama, Costa Rica, Nicaragua, El Salvador, and Guatemala – 3Q 2019 produced a corporate-wide net loss of US$4 million, compared […]