Companies

EPM 2018 results March 2019

Medellin Herald July 11, 2019

EPM Full-Year 2018 Profits Rise 4% Despite Hidroituango Problems Medellin-based multinational electric power giant EPM reported March 26, 2019 that its full-year 2018 net profits rose 4% year-on-year, to COP$2.4 trillion (US$758 million). Earnings before interest, taxes, depreciation and

Companies

ISA 2018 results March 219

Medellin Herald July 11, 2019

ISA Full-Year 2018 Profits Rise 6% Year-on-Year Medellin-based multinational electric power transmission operator and highways concessionaire ISA announced March 7, 2019 that its full-year 2018 net income rose 6% year-on-year, to COP$1.5 trillion (US$483 million). Revenues also rose 4% year-on-year, to COP$7.2 trillion (US$2.3 billion), while earnings before interest,

Companies

Mineros SA 2018 results March 2019

Medellin Herald July 11, 2019

Socially Responsible Gold Miner Mineros SA Sees 2018 Profits Jump 33% Year-on-Year Medellin-based multinational gold mining giant Mineros SA announced March 13, 2019 that its full-year 2018 net income rose 33% year-on-year to COP$156 billion (US$50 million), from COP$117 billion (US$37 million) in 2017. Gross revenues and gold prices also rose a bit more than […]

Companies

Cemex Maceo plant deal April 2019

Medellin Herald July 11, 2019

Cemex Colombia Partially Unblocks Stalled Maceo, Antioquia Cement Plant Cemex Colombia revealed in an April 12, 2019 filing with Colombia’s Superfinanciera corporate oversight agency that it reached a deal with the national Procuraduría General (corporate/political disciplinary regulator) that would partially clear the way to start-up a US$420 million cement-manufacturing

Business

Valores Simesa 2018 results February 2019

Medellin Herald July 11, 2019

Valores Simesa Full-Year 2018 Profits Double Year-on-Year Medellin-based commercial real estate investor Valores Simesa revealed February 14, 2019 in a filing with Colombia’s Superfinanciera agency that its full-year 2018 after-tax profits rose to COP$24 billion (US$8 million), up from COP$12 billion (US$4 million) in 2017. Bancolombia’s investment-bank division held 68%

Business

Sura 2018 results March 2019

Medellin Herald July 11, 2019

Sura Full-Year 2018 Profits Rise 7.6% Year-on-Year Medellin-based insurance and financial services giant Grupo Sura announced March 1, 2019 that full-year 2018 net income (excluding divestments) rose 7.6% year-on-year to COP$1.4 trillion (US$475.7 million) while fourth-quarter (4Q) 2018 profits rose 28% year-on-year, hitting US$101.8 million. The “Suramericana” insurance

Expats Corner

Colombia among best countries for expats making friends Internations survey March 2019

Medellin Herald July 11, 2019

Infrastructure

EPM hidroituango collapse study March 2019

Medellin Herald July 11, 2019

EPM: DESIGN FLAW CAUSED HIDROITUANGO TUNNEL COLLAPSE; RECOVERY UNDERWAY Medellin-based multinational electric power giant EPM on March 1, 2019 unveiled a long-awaited consultant’s report on the causes behind the April 2018 tunnel collapse that has resulted in a three-year delay in power output from the 2.4-gigawatt “Hidroituango” hydroelectric plant in Antioquia. “The

Infrastructure

Mar 1 financial close and Pacifico 1 2 3 ANI update March 2019

Medellin Herald July 11, 2019

Antioquia’s Crucial ‘Mar 1’ Wins Financial Close; Puerto Antioquia Wins Concession; Pacifico 1-2-3 Making Progress Colombia’s Vice President Marta Lucia Ramirez announced March 20 that the “Mar 1” highway project linking Medellin westward to Santa Fe de Antioquia — and eventually to new Atlantic ports — just won a COP$2.23 trillion (US$754 million) financial

Infrastructure

Autopista Rio Magdalena delays April 2019

Medellin Herald July 11, 2019

Aleatica SA subsidiary Autopista Rio Magdalena (ARM) announced April 8, 2019 that it has cancelled its highway construction contract with Obrascon Huarte Lain SA (OHL) and is seeking a new contractor. The partially completed ARM highway project aims to connect Remedios in northern Antioquia with the “Ruta del Sol” fourth-generation (4g) highway via a new […]