Companies

Grupo Orbis Posts COP$8 Billion Net Loss for 3Q 2018

Medellin Herald November 15, 2018

Medellin-based Grupo Orbis – which includes Pintuco paints, Andercol Chemicals and O-Tek water treatment technologies – on November 14 posted a COP$8 billion (US$2.5 million) net loss for 3Q 2018, compared to a COP$3.2 billion (US$1 million) net profit in 3Q 2017. For the nine-months of 2018,

Companies

Exito Posts Net Loss in 3Q 2018, but Nine-Months 2018 Profits Soar

Medellin Herald November 15, 2018

Medellin-based multinational retail giant Exito on November 14 posted a third quarter (3Q) 2018 net loss of COP$9.6 billion (US$3 million), but nine-months 2018 profits soared by 293%, to COP$119 billion (US$37 million). Gross revenues as measured in Colombia pesos dipped 8.4% year-on-year in 3Q 2018, to COP$12.7 trillion (US$3.98 billion), but actually improved 9.5% […]

Companies

El Condor 3Q 2018 Construction Net Income Triples Year-on-Year

Medellin Herald November 15, 2018

Medellin-based highway construction giant Construcciones El Condor announced November 14 that its third quarter (3Q) 2018 net income for its construction operations more than tripled year-on-year, to COP$53.5 billion (US$16.7 million), from COP$15 billion (US$4.7 million) in 3Q 2017. The figures for the latest quarter “reflect a high level of project execution,” according

Companies

Enka 3Q 2018 Net Income Jumps 66% Year-on-Year

Medellin Herald November 15, 2018

Medellin-based textile manufacturer and plastics-recycling specialist Enka Colombia announced November 14 that its third quarter (3Q) 2018 net income rose 66%, to COP$1.8 billion (US$564,000), from COP$1.09 billion (US$342,000)in 3Q 2017. Both domestic and export sales revenues improved by 15% year-on-year, to COP$304 billion (US$95 million), from COP$264 billion (US$82.7

Companies

Argos 3Q 2018 Net Income Jumps 37% Year-on-Year

Medellin Herald November 15, 2018

Medellin-based cement, electric power and road/airport concessionaire Grupo Argos announced November 14 that its third quarter (3Q) 2018 net income rose 37% year-on-year, hitting COP$410 billion (US$128 million). As for nine-months 2018, Argos has posted an accumulated profit of COP$864 billion (US$269 million), up 31%. Consolidated revenues of Grupo Argos in 3Q 2018 were

Real Estate

New-Housing Sales Down This Year in Medellin, but Up in ‘Oriente,’ Envigado

Medellin Herald November 9, 2018

In a November 8 presentation to some 1,000 attendees for an annual construction-industry forum here, Camacol Antioquia executive director Eduardo Loaiza revealed that new-housing sales in Medellin have fallen 31% this year – mainly due to recent economic weakness in Colombia and investor uncertainly over the national elections earlier this year. Aside from now-settled

Companies

Bancolombia 3Q 2018 Net Income Jumps 20.5% Year-on-Year

Medellin Herald November 9, 2018

Medellin-based banking giant Bancolombia announced November 7 that its third quarter (3Q) 2018 net income rose 20.5% year-on-year, to COP$543 billion (US$172 million). However, this positive year-on-year result in 3Q 2018 was offset by an 8.2% decline in net income compared to 2Q 2018. “Gross loans [in 3Q 2018] grew by 4.0% when compared to […]

Companies

ISA 3Q 2018 Net Income Jumps 30% Year-on-Year

Medellin Herald November 8, 2018

Medellin-based multinational electric power transmission and highway concessionaire ISA announced November 7 that its third quarter (3Q) 2018 net income rose 30.2% year-on-year, to COP$413 billion (US$131 million). Gross revenues rose 8.3% year-on-year, to COP$1.9 trillion (US$605 million), with power transmission revenues showing the biggest yearly gain, by 16.7%,

Companies

Celsia 3Q 2018 Net Profit Drops 31% Year-on-Year; Renewables Projects Growing

Medellin Herald November 7, 2018

Medellin-based electric-power giant Celsia announced November 6 that its third quarter (3Q) 2018 net profit dropped 31% year-on-year, to COP$64 billion (US$20 million). However, nine-months 2018 net profits so far have risen 35% year-on-year, to COP$243 billion (US$77 million), according to Celsia. Consolidated revenues for 3Q 2018 rose 8.5% year-on-year, to COP$852

General News

Big Step Forward for Medellin, EPM: Hidroituango Spillway-Startup Marks Recovery

Medellin Herald November 5, 2018

Medellin-based electric power giant EPM on November 4 heralded the start-up of the engineered spillway over the giant “Hidroituango” hydroelectric project in Antioquia (see photo, above). That start-up soon will allow EPM to close a makeshift diversion tunnel through the dam, ensure steady, safe, adequate water-flow of the Cauca River downstream of the dam, and […]