Blog - Medellin Herald

December 14, 2024

Uncategorized

Hidroituango Contractors Absolved From Disastrous Tunnel Collapse

Medellin Herald December 11, 2024

An international arbitration tribunal announced December 10 that the three main contractors at the US$5 billion, 2.4-gigawatt “Hidroituango” hydroelectric dam here in Antioquia were not responsable for the 2018 collapse of a diversión tunnel that ultimately delayed power output by nearly four

Business Companies

Mineros SA 3Q 2024 Net Income Jumps 188% Year-on-Year

Medellin Herald November 17, 2024

Medellin-based multinational gold miner Mineros SA announced November 14 that its third quarter (3Q) 2024 net income jumped 188% year-on-year, to US$28.5 million, from US$13 million in 3Q 2023. Revenues rose 39%, to US$141 million, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 88%, to US$62.9 million, up from US$33 million in

Business Companies

Grupo Argos 3Q 2024 Profits Jump 34% Year-on-Year

Medellin Herald November 17, 2024

Medellin-based Grupo Argos – the holding company of cement/concrete multinational Cementos Argos, electric power giant Celsia and highways/airports concessionaire Odinsa – on November 14 reported a 34% year-on-year jump in third quarter (3Q) 2024 net income, at COP$494 billion (US$111 million). Revenues also rose 8% year-on-year, to COP$3.3 trillion (US$741 million) in 3Q

Business Companies

Isagen 3Q 2024 Profits Soar 84% Year-on-Year

Medellin Herald November 17, 2024

Medellin-based renewable electric-power-generation giant Isagen announced November 13 a third quarter (3Q) 2024 net income of COP$288 billion (US64.6 million) — an 84% jump over 3Q 2023. For the latest quarter, revenues rose 19% year-on-year, to COP$1.58 trillion (US$354 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 29%,

Business Companies

Sura 3Q 2024 Profits Grow 17.8% Year-on-Year

Medellin Herald November 16, 2024

Medellin-based multinational insurance and asset-management giant Grupo Sura announced November 14 that its third quarter (3Q) 2024 net income rose 17.8% year-on-year, to COP$534 billion (US$120 million), from COP$453 billion (US$102 million) in 3Q 2023. For nine-months 2024, Grupo Sura consolidated profits soared by 335%, to COP$5.7 trillion (US$1.28 billion) — but

Business Companies

Conconcreto 3Q 2024 Net Income More-Than-Doubles Year-on-Year

Medellin Herald November 16, 2024

Medellin-based construction giant Conconcreto announced November 13 that its third quarter (3Q) 2024 net income jumped by 293% year-on-year, to COP$238 billion (US$53.7 million). “Despite the current macroeconomic context — characterized by low growth in the Colombian economy, especially in the construction sector, and a slower-than-expected decline in inflation and

Business Companies

Tigo-UNE Posts 3Q 2024 Net Profit, but Outlook Still Dim

Medellin Herald November 16, 2024

Medellin-based internet/cell-phone/cable-TV giant Tigo-UNE – half-owned by Luxembourg-based Millicom – announced November 14 a COP$18.7 billion (US$4 million) net profit for third quarter (3Q) 2024, a sharp improvement from the COP$172 billion (US$38.7 million) net loss in 3Q 2023. Revenues also rose slightly, to COP$1.35 trillion (US$304.4 million), from COP$1.349

Business Companies

IMSA Posts Net Loss for 3Q 2024, but Nine-Months 2024 Results Improve

Medellin Herald November 16, 2024

Medellin-based multinational chemicals, food additives and consumer-products giant Grupo IMSA reported a COP$6.5 billion (US$1.46 million) net loss for third quarter (3Q) 2024, down from a COP$16 billion (US$3.6 million) net profit in 3Q 2023. However, for the first nine months of 2024 (January through September), net profits from continuing operations have

Business Companies

Grupo Éxito Posts 3Q 2024 Net Loss

Medellin Herald November 16, 2024

Medellin-based multinational supermarket/dry-goods retailer Grupo Éxito on November 13 posted a COP$34.7 billion (US$7.8 million) net loss for third quarter (3Q) 2024 — slightly worse than its COP$31.7 billion (US$7.1 million) net loss in 3Q 2023. Revenues improved slightly (up 2.2%) year-on-year, at COP$4.99 trillion (US$1.12 billion) in 3Q 2024, versus COP$4.91

Business Companies

Enka 3Q 2024 Net Income Drops 39% Year-on-Year

Medellin Herald November 9, 2024

Medellin-based textiles and plastics-recycling specialist Enka announced November 8 that its third quarter (3Q) 2024 net income fell 39% year-on- year, to COP$1.77 billion (US$406,000), from COP$2.9 billion (US$6.65 million) in 3Q 2023. Revenues also fell 6% year-on-year, to COP$123 billion (US$28 million), from COP$131 billion (US$30 million) in 3Q 2023. On the other

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Medellin, Antioquia, Colombia

Medellin Herald is a locally produced, English-language news and advisory service uniquely focused upon a more-mature audience of visitors, investors, conference and trade-show attendees, property buyers, expats, retirees, volunteers and nature lovers.

U.S. native Roberto Peckham, who founded Medellin Herald in 2015, has been residing in metro Medellin since 2005 and has traveled regularly and extensively throughout Colombia since 1981.

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