Business Companies

Grupo Argos 1Q 2024 Profits Skyrocket 1,041% Year-on-Year

Medellin Herald May 16, 2024

Medellin-based Grupo Argos – parent company of Cementos Argos, power producer Celsia and highway/airport concessionaire Odinsa – announced May 15 a first quarter (1Q) 2024 net profit of COP$6.5 trillion (US$1.7 billion) — a whopping 1,041% year-on-year increase. “With the successful

Business Companies

Isagen 1Q 2024 Net Income Drops 50% Year-on-Year

Medellin Herald May 16, 2024

Medellin-based 100% renewable-power giant Isagen announced May 15 that its first quarter (1Q) net income plunged 50% year-on-year, to COP$198 billion (US$51.7 million), from COP$397 billion (US$103.7 million) in 1Q 2023. Operating income also dipped slightly (0.5%) year-on-year, to COP$1.34 trillion (US$350 million), while earnings before interest, taxes, depreciation and

Business Companies

Conconcreto 1Q 2024 Net Profits Plummet 80% Year-on-Year

Medellin Herald May 16, 2024

Medellin-based international highways-and-housing construction giant Conconcreto announced May 15 that its first quarter (1Q) net income dropped 80% year-on-year, to COP$2.7 billion (US$704,000), from COP$14 billion (US$3.6 million) in 1Q 2023. Revenues also fell 50% year-on-year, to COP$127 billion (US$33 million). Conconcreto blamed the revenue drop “mainly due to the

Business Companies

UNE-EPM (Tigo) Posts Net Loss for 1Q 2024

Medellin Herald May 16, 2024

Medellin-based UNE-EPM – the internet/cell-phone/cable-TV joint venture with Spain-based Millicom (Tigo) – announced May 15 a first quarter (1Q) 2024 net loss of COP$95 billion (US$24.8 million). That loss was however a 35% year-on-year reduction from the COP$148 billion (US$38.6 million) net loss in 1Q 2023, according to the company. Gross revenues for 1Q 2024 […]

Business Companies

Grupo IMSA 1Q 2024 Profits Soar 409% Year-on-Year

Medellin Herald May 15, 2024

Medellin-based multinational diversified manufacturer Grupo IMSA announced May 14 a 409% year-on-year hike in first quarter (1Q) profits, hitting COP$90.6 billion (US$23.6 million). “The increase in net profit is explained by the better operating results of our companies and the receipt of an additional payment derived from the sale agreement of O-tek Internacional to WIG

Business Companies

Enka 1Q 2024 Profits Dip Year-on-Year

Medellin Herald May 15, 2024

Medellin-based textiles and plastics-recycling giant Enka announced May 14 that its first quarter (1Q) 2024 net income fell 22% year-on-year, to COP$3.56 billion (US$929,000), from COP$4.6 billion (US$1.2 million) in 1Q 2023. Revenues also fell 14% year-on-year, to COP$125 billion (US$32.6 million), but earnings before interest, taxes, depreciation and amortization

Business Companies

Cementos Argos 1Q 2024 Profits Skyrocket on Summit Materials Deal

Medellin Herald May 15, 2024

Medellin-based multinational cement/concrete giant Cementos Argos announced May 14 that it booked a one-time, year-on-year profit gain of COP$5.33 trillion (US$1.4 billion) thanks to combining its U.S. operations with Summit Materials. As a result, Argos reported a first quarter (1Q) 2024 net income of COP$5.3 trillion (US$1.38 billion). “With the money received [from

Business Companies

Odinsa 1Q 2024 Net Income Dips 5% Year-on-Year

Medellin Herald May 15, 2024

Medellin-based highways/airport concessionaire Odinsa – a concessions division of Grupo Argos and in a “strategic alliance” with Australia-based global infrastructure giant Macquarie Infrastructure and Real Assets (MIRA) — announced May 13 a first quarter (1Q) 2024 net profit of COP$10.4 billion (US$2.7 million), a 5% decline from COP$10.95 billion (US$2.8 million)

Business Companies

Aris Mining Trims Net Loss for 1Q 2024 Versus 1Q 2023

Medellin Herald May 14, 2024

Vancouver, Canada-based Aris Mining – operator of the giant Segovia gold mine here in Antioquia as well as the in-development Marmato gold mine in nearby Caldas department – announced May 14 a first quarter (1Q) 2024 net loss of US$744,000, an improvement over the US$6.37 million net loss in 1Q 2023. Revenues also improved year-on-year, […]

Business Companies

Construcciones El Condor Posts 1Q 2024 Net Loss, But Smaller Than 1Q 2023

Medellin Herald May 11, 2024

Medellin-based highway construction giant Construcciones El Condor announced a COP$12.5 billion (US$3.2 million) net loss for first quarter (1Q) 2024 — an improvement over the COP$31.6 billion (US$8.1 million) net loss in 1Q 2023. Revenues from ordinary activities for 1Q 2024 rose 38% year-on-year, to COP$303.7 billion (US$101 million) while earnings before interest,