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

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

Business Companies

Bancolombia 3Q 2024 Net Income Flat Year-on-Year

Medellin Herald November 8, 2024

Medellin-based multinational banking giant Bancolombia announced November 7 that its third quarter (3Q) 2024 net income remained essentially flat year-on-year, at COP$1.49 trillion (US$343 million), up just 0.6%. While the year-on-year profits came-in almost unchanged, the 3Q 2024 results still are up 4.3% compared to second quarter (2Q) 2024, according to the company.

Business Companies

Cementos Argos 3Q 2024 Profits Fall 37% Year-on-Year

Medellin Herald November 8, 2024

Medellin-based multinational cement/concrete giant Cementos Argos announced November 7 that its third quarter (3Q) 2024 net profits fell 37% year-on-year, to COP$156 billlion (US$36 million), from COP$250 billion (US$58 million) in 3Q 2023. Revenues in 3Q 2024 rose slightly — by 1.45% year-on-year — to COP$1.33 trillion (US$308 million), while earnings before

Business Companies

Celsia 3Q 2024 Net Income Jumps 35% Year-on-Year

Medellin Herald November 5, 2024

Medellin-based electric power producer Celsia announced November 5 a 35% year-on-year jump in third quarter (3Q) 2024 net income, to COP$110 billion (US$25 million), from COP$81 billion (US$18 million) in 3Q 2023. However, 3Q 2024 revenues dipped 4.9% year-on-year, to COP$1.4 trillion (US$317 million), while earnings before interest, taxes, depreciation and amortization

Business Companies

EPM 3Q 2024 Net Income Grows 12% Year-on-Year

Medellin Herald November 5, 2024

Medellin-based multinational electric power and utilities giant EPM Group announced November 5 that its third quarter (3Q) 2024 net income rose 12% year-on-year, to COP$3.8 trillion (US$861 million), with subsidiaries and affiliates accounting for 19% of the total. Revenues also rose 10% year-on-year, to COP$30 trillion (US$6.8 billion), while earnings before interest,

Business Companies

Aris Mining Shows Colombia How To Achieve Gold-Miner Formalization

Medellin Herald November 5, 2024

Canada-based Aris Mining – owner and operator of Colombia’s biggest, historic gold mining operation at Segovia, Antioquia – wowed attendees at the annual CGS 2024 conference here in Medellin with impressive examples showing how to convert hundreds of illegal or informal gold miners into cooperative, safe, mutually profitable contract miners. CGS attendees at the October

Business Companies

ISA 3Q 2024 Net Income Soars 74% Year-on-Year

Medellin Herald November 1, 2024

Medellin-based multinational electric-power transmission builder-operator, highways concessionaire and telecom-internet provider ISA announced October 31 that its third quarter (3Q) 2024 net income jumped 74% year-on-year, to COP$891 billion (US$202 million), from COP$512 billion (US$116 million) in 3Q 2023. Revenues in 3Q 2024 also jumped 39% year-on-year, to COP$4.4

Business Companies

Nutresa 3Q 2024 Net Income Soars 85% Year-on-Year

Medellin Herald November 1, 2024

Medellin-based multinational foods manufacturing giant Nutresa announced October 31 that its third quarter (3Q) 2024 net income jumped 85% year-on-year, to COP$215 billion (US$48.7 million), from COP$118 billion (US$26.7 million) in 3Q 2023. That profit jump came despite relative stagnant sales revenues, at COP$4.7 trillion (US$1.06 billion) in 3Q 2024, versus COP$4.67