Companies

Grupo Sura Full-Year 2022 Profits Jump 47% Year-on-Year

Medellin Herald March 1, 2023

Medellin-based insurance, asset management and health-care multinational Grupo Sura announced February 28 that its full-year 2022 net income jumped 47% year-on-year, to COP$2.1 trillion (US$488 million). Revenues also rose by 26% year-on-year, to a record COP$31.4 trillion (US$7.36 billion),

Companies

Grupo Argos Full-Year 2022 Net Income Rises 19% Year-on-Year

Medellin Herald March 1, 2023

Medellin-based Grupo Argos – parent of Cementos Argos, power producer Celsia and highways/airport concessionaire Odinsa – announced February 28 that its full-year 2022 net income rose 19% year-on-year, to COP$1.4 trillion (US$289 million). Revenues rose 31% year-on-year, to COP$21.3 trillion (US$4.4 billion), while earnings before interest, taxes, depreciation and

Companies

Grupo Éxito Full-Year 2022 Net Income Plunges 79% Year-on-Year

Medellin Herald February 28, 2023

Medellin-based multinational supermarket and dry-goods retailer Grupo Éxito S.A. announced February 27 that its full-year 2022 net income fell 79% year-on-year, to COP$99 billion (US$20.8 million), from COP$474 billion (US$99.6 million) in 2021. Revenues rose 22% year-on-year, to COP$19.7 trillion (US$4.1 billion), while earnings before interest, taxes, depreciation and

Companies

Nutresa Full-Year 2022 Net Profit Jumps 30% Year-on-Year

Medellin Herald February 24, 2023

Medellin-based multinational foods giant Grupo Nutresa announced February 23 that its full-year 2022 net profit rose 30.4% year-on-year, to COP$883 billion (US$182 million). Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 28.6%, to COP$1.97 trillion (US$405 million), while EBITDA margin came-in at 11.6% of sales. Net post-operative

Companies

ISA Full Year 2022 Net Income Jumps 32% Year-on-Year

Medellin Herald February 24, 2023

Medellin-based multinational electric power transmission, telecom and highways-concessionaire giant ISA announced February 23 that its full-year 2022 net income rose 32% year-on-year, to COP$2.2 trillion (US$453 million), from COP$1.66 trillion (US$342 million) in 2021. Gross income rose 14.4%, to COP$10.3 trillion (US$2.1 billion), while earnings before interest, taxes,

Companies

Bancolombia 4Q 2022 Net Income Jumps 66% Year-on-Year

Medellin Herald February 24, 2023

Medellin-based multinational banking giant Bancolombia announced February 24 that its fourth-quarter (4Q) 2022 net income rose 66% year-on-year, to COP$6.8 trillion (US$1.4 billion). Gross loans increased 22.5% year-on-year, or 14.6% when excluding depreciation of the Colombian peso (COP) against the U.S. dollar during 2022. “Thirty-day past-due loans stood at 3.24% and

Companies

Celsia Full-Year 2022 Net Income Drops 18.7% Year-on-Year

Medellin Herald February 22, 2023

Medellin-based electric power giant Celsia – a division of Grupo Argos – on February 21 announced an 18.7% year-on-year decline in 2022 net income –at COP$442.8 billion (US$89.6 million), versus COP$544 billion (US$110 million) in 2021. Gross revenues rose 36% year-on-year, to COP$5.58 trillion (US$1.13 billion) in 2022, versus COP$4.1 trillion (US$830 million) in

Companies

Cementos Argos Full-Year 2022 Profits Drop 59% Year-on-Year

Medellin Herald February 21, 2023

Medellin-based multinational cement/concrete giant Cementos Argos – a division of Grupo Argos – announced February 21 that its full-year 2022 profits fell 59% year-on-year, to COP$215 billion (US$33 million), from COP$524 billion (US$115 million) in 2021. Gross revenues rose 19%, to COP$11.7 trillion (US$2.37 billion), up 23% year-on-year, compared to COP$9.8 trillion

Companies

Mineros Full-Year 2022 Net Income Drops 88% Year-on-Year

Medellin Herald February 21, 2023

Medellin-based multinational gold miner Mineros SA announced February 20 that its full-year 2022 net income fell 88% year-on-year, to COP$19 billion (US$3.8 million), from COP$$162 billion (US$32.6 million) in 2021. “The net result was significantly impacted by COP$196 billion [US$39.5 million] of asset impairment expenses, mainly on the Gualcamayo mine property in

Companies

Update: Medellin City Council Reverses Planned Sale of EPM’s 50% Stake in UNE

Medellin Herald September 20, 2022

The Medellin City Council on September 29 decided to reverse an earlier vote that would have approved the sale of city-owned utility EPM’s 50% stake in telecom-internet giant UNE to Millicom Spain, which holds the other 49.9% of shares. Following an earlier provisional vote to approve the sale, on September 29 some Council members stated […]