Companies

Grupo Argos 2Q Consolidated Net Income Dips 5.7%, but EBITDA Rises Year-on-Year

Medellin Herald August 14, 2019

Medellin-based Grupo Argos – holding company for electric power producer Celsia, cement maker Cementos Argos and highway/airports concessionaire Odinsa – on August 12 reported a 5.7% year-on-year dip in second-quarter (2Q) 2019 net income, at COP$219 billion (US$63 million). However, 2Q 2019

Companies

Construcciones El Condor Posts Net Loss for 2Q 2019

Medellin Herald August 14, 2019

Medellin-based highway construction giant Construcciones El Condor on August 14 posted a special COP$13 billion (US$3.7 million) net loss for second quarter (2Q) 2019, but expects to recoup this accounting loss by year-end. “This loss is entirely associated with the result of the ‘Vías de las Américas’ [highway] concession, which will affect the company temporarily […]

Companies

Cementos Argos 2Q 2019 Profits Jump 150% Year-on-Year

Medellin Herald August 13, 2019

Medellin-based multinational cement/concrete giant Cementos Argos announced August 12 that its second-quarter (2Q) 2019 net income hit COP$73 billion (US$21 million), from COP$29 billion (US$8.5 million) in 2Q 2018. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 44% year-on-year, to COP$475 billion (US$140 million), according to the company.

Companies

Enka 2Q 2019 Profits Improve Year-on-Year on Stronger Exports, U.S. Dollar

Medellin Herald August 9, 2019

Medellin-based specialty textiles and fibers giant Enka announced August 8 that its second-quarter (2Q) 2019 profits came-in at COP$4.9 billion (US$1.4 million), a big improvement over the 2Q 2018 net loss of COP$999 million (US$294,000). Earnings before interest, taxes, depreciation and amortization (EBITDA) likewise improved by 35% year-on-year, to COP$14 billion (US$4.1

Companies

Celsia 2Q 2019 Profits Fall Due to Tolima Power Acquisition Costs

Medellin Herald August 9, 2019

Medellin-based electric power giant Celsia reported August 8 that its second quarter (2Q) net income fell 56% year-on-year, to COP$43 billion (US$12.6 million), mainly because of financing costs for its purchase of Tolima departmental power company EPSA. Another COP$19 billion (US$5.6 million) of the difference between 2Q 2019 versus 2Q 2018 profits was the one-time […]

Professional services

Medellin’s ‘Portafolio Verde:’ International, Local Companies Match Mutually Beneficial Social, Environmental Projects with Local Collaborators

Medellin Herald August 6, 2019

A growing list of major local and international companies operating in and around Medellin and throughout Colombia are turning to a novel “Portafolio Verde” (“green portfolio”) consultancy here for projects that are both “green” environmentally as well as financially. “Portafolio Verde” finds, designs and jump-starts innovative, sustainable environmental and social

Companies

ISA 2Q 2019 Net Income Jumps 89% Year-on-Year

Medellin Herald August 6, 2019

Medellin-based multinational electric-power transmission builder/operator and highway concessions giant ISA announced August 6 that its second quarter (2Q) net income soared 89% year-on-year, to COP$439 billion (US$128 million). “This variation was due to higher revenues from the entry into operation of new projects, the incorporation of the 50% of IESUL [a Brazilian

Companies

Bancolombia 2Q 2019 Net Income Rises 58% Year-on-Year

Medellin Herald August 6, 2019

Medellin-based multinational banking giant Bancolombia announced August 5 that its second quarter (2Q) 2019 net income rose 58% year-on-year, to COP$936 billion (US$273 million). Net interest income totaled COP$2.9 trillion (US$845 million) in 2Q 2019, up 13.5% from 2Q 2018, due to “higher volume in the loan portfolio, as well as a slight increase in […]

Companies

Fabricato 2Q 2019 Net Loss Worsens; Joins Coltejer in Textile Market ‘Diagnosis’

Medellin Herald August 2, 2019

Medellin-based textile giant Fabricato announced August 1 that its second quarter (2Q) 2019 net loss hit COP$12.7 billion (US$3.8 million), 70% worse than the COP$7.4 billion (US$2.2 million) net loss in 2Q 2018. On a parallel front, Fabricato and its manufacturing neighbor – Medellin-based textile giant Coltejer — simultaneously announced that they’re cooperating on

Companies

FedEx Expands Air Freight Service to Medellin, Bogota

Medellin Herald August 1, 2019

U.S.-based global air freight giant FedEx announced July 31 the launch of six flights weekly between Miami, Medellin and Bogota. The new service aims to grab a share of the six million pounds of perishables shipped via air-freight every day from Colombia to Miami, including flowers, fish, fruits, vegetables and coffee, according to the company. […]