Business Companies

Sura Full-Year 2023 Adjusted Net Income Rises 7% Year-on-Year

Medellin Herald March 1, 2024

Medellin-based multinational insurance, pensions and asset-management giant Grupo Sura announced February 29 a full-yet 2023 adjusted net controlling income of COP$2.3 trillion (US$583 million), up 11.7% year-on-year. Operating revenues rose 22% year-on-year, to COP$35.5 trillion (US$9

Business Companies

Conconcreto Full-Year 2023 Net Income Plummets 98% Year-on-Year

Medellin Herald February 29, 2024

Medellin-based multinational construction and real-estate giant Conconcreto announced February 28 that its full-year 2023 net income collapsed by 98% year-on-year, to COP$1.02 billion (US$259,700), versus COP$61 billion (US$15.5 million) in 2023. Revenues dipped 9.9% year-on-year, to COP$1.22 trillion (US$310 million), while earnings before interest, taxes, depreciation

Business Companies

Construcciones El Condor Posts Worst-Ever Full-Year Results

Medellin Herald February 29, 2024

Medellin-based highway construction giant Construcciones El Condor announced February 28 a full-year 2023 net loss of COP$259.6 billion (US$65.8 million), “the most difficult year in the history” of the company. The net loss in 2023 is almost four times worse than the COP$69.7 billion (US$17 million) net loss for full-year 2022. Earnings before interest, taxes, […]

Business Companies

Grupo Éxito Full-Year 2023 Net Profit Jumps 27% Year-on-Year

Medellin Herald February 28, 2024

Medellin-based multinational supermarket giant Grupo Éxito announced February 27 that its full-year 2023 net profit rose 27% year-on-year, to COP$126 billion (US$30 million). Revenues also rose 2.4% year-on-year, to COP $21.1 trillion (US$5.36 billion), or an 8.7% boost if excluding peso-to-dollar exchange-rate effects. Corporate-wide earnings before interest, taxes,

Business Companies

ISA Full-Year 2023 Net Income Jumps 12% Year-on-Year

Medellin Herald February 27, 2024

Medellin-based multinational electric-power transmission, highways and telecom provider ISA announced February 26 that its full-year 2023 net income rose 12% year-on-year, to COP$2.5 trillion (US$635 million). Operating income likewise grew 6% year-on-year, to COP$14.2 trillion (US$3.6 billion), while earnings before interest, taxes, depreciation and amortization (EBITDA)

Business Companies

Grupo Nutresa Full-Year 2023 Net Profits Dip 18% Year-on-Year

Medellin Herald February 23, 2024

Medellin-based multinational processed foods giant Grupo Nutresa announced February 22 that its full-year 2023 net profits declined 18% year-on-year, to COP$739 billion (US$186 million), from COP$903.7 billion (US$228 million) in 2022. Despite the profits dip, total 2023 revenues rose 11% year-on-year, to COP$18.9 trillion (US$4.76 billion), versus COP$17 trillion (US$4.28

Business Companies

Cementos Argos Full-Year 2023 Net Income Jumps 83% Year-on-Year

Medellin Herald February 22, 2024

Medellin-based multinational cement/concrete giant Cementos Argos announced February 20 that its full-year 2023 net income soared 83% year-on-year, to COP$393 billion (US$99.8 million), from COP$215 billion (US$54.6 million) in 2022. Revenues rose 8.8%, to COP$12.7 trillion (US$3.2 billion), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose

Business Companies

Celsia Full-Year 2023 Net Income Falls 21% Year-on-Year

Medellin Herald February 22, 2024

Medellin-based electric power giant Celsia announced February 20 that its full-year 2023 net income declined 21% year-on-year, to COP$349 billion (US$88.8 million), from COP$443 billion (US$112.7 million) in 2022. Despite the profits drop, revenues rose 11.6% year-on-year, to COP$6.23 trillion (US$1.58 billion), while earnings before interest, taxes, depreciation and

Business Companies

Bancolombia Full-Year 2023 Net Income Dips 9.8% Year-on-Year

Medellin Herald February 22, 2024

Medellin-based multinational banking giant Bancolombia announced February 20 that its full-year 2023 net income fell 9.8% year-on-year, to COP$6.1 trillion (US$1.55 billion), from COP$6.78 trillion (US$1.7 billion) in 2022. Meanwhile, annualized return on equity at the consolidated level came-in at 16.1% for full-year 2023, according to the company. Gross loans stood at

Business Companies

Sura’s ‘Protección’ Subsidiary Sells El Salvador Operations for US$60 Million

Medellin Herald February 16, 2024

Medellin-based insurance/pensions/health-care multinational Grupo Sura announced February 15 that its pensions subsidiary Protección just inked a deal to sell its El Salvador financial subsidiary, Pension Funds Crecer. The US$60 million deal means that Protección “will dispose of all the shares it owns in administrator of pension-funds administrator Crecer S.A.,” according