Companies

Construcciones El Condor Posts 1H 2022 Net Loss on Project-Finance Accounting

Medellin Herald August 13, 2022

Medellin-based highway construction giant Construcciones El Condor on August 12 reported a first half (1H) 2022 accounting net loss of COP$17.5 billion (US$4.2 million). “The results recognized by the equity method and the unrealized net-exchange difference generated a net result of negative

Companies

Bancolombia 2Q 2022 Net Income Ticks-Up 2.7% Year-on-Year

Medellin Herald August 10, 2022

Medellin-based multinational banking giant Bancolombia announced August 9 that its second quarter (2Q) 2022 net income rose 2.76% year-on-year, to COP$1.73 trillion (US$405 million). Gross loans totaled COP$243 trillion (US$56.8 billion), up 19.4% year-on-year. “When excluding the foreign-exchange effect, the increase during the last twelve months was 15.3%,” according to

Companies

Cementos Argos 2Q Net Income Plummets 97% Year-on-Year

Medellin Herald August 9, 2022

Medellin-based multinational cement/concrete giant Cementos Argos announced August 8 that its second quarter (2Q) 2022 net income fell 97% year-on-year, to COP$5 billion (US$1.15 million). “Net income decreased due to non-recurring operations of asset sales that were reflected in the results of the second quarter of 2021,” according to the company. However, revenues jumped

Companies

Celsia 2Q 2022 Net Income Dips 23% Year-on-Year

Medellin Herald August 6, 2022

Medellin-based electric power producer Celsia (a division of Grupo Argos) announced August 5 that its second quarter (2Q) 2022 net income fell to COP$152 billion (US$35 million), a 23% decline from the COP$198 billion (US$51 million) net in 2Q 2021. Consolidated 2Q 2022 revenues hit COP$1.21 trillion (US$279 million), with 89% of that coming from […]

Companies

Mineros 2Q 2022 Net Income Rises 10% Year-on-Year

Medellin Herald August 4, 2022

Medellin-based multinational gold miner Mineros SA on August 3 reported a 10% year-over-year hike in net income for second quarter (2Q) 2022. Revenue likewise rose 7% year-on-year, to US$137 million, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 12%, to US$46.7 million. Gold production also rose by 10% year-on-year, to 74,062

Companies

ISA 2Q 2022 Net Income Rises 14% Year-on-Year

Medellin Herald August 2, 2022

Medellin-based multinational electric-power transmission, highways concessionaire and telecom provider ISA announced August 1 that its second quarter (2Q) 2022 net income rose 14.4% year-on-year, to COP$670 billion (US$155.7 million). Operating income rose 10% year-on-year, to COP$1.9 trillion (US$441.7 million), while earnings before interest, taxes, depreciation and

Companies

Nutresa 2Q 2022 Net Profit Jumps 53% Year-on-Year

Medellin Herald July 31, 2022

Medellin-based multinational foods giant Grupo Nutresa announced July 29 that its second quarter (2Q) 2022 net profit rose 53% year-on-year, to COP$214 billion (US$50 million). Revenues also rose 36% year-on-year, to COP$4 trillion (US$935 million), according to the company. So far this year, first-half (1H) net income is up 38%, at COP$515 billion (US$120 million), […]

Companies

EPM First Half 2022 Net Income rose 10% Year-on-Year

Medellin Herald July 31, 2022

Medellin-based multinational utilities giant EPM announced July 29 that its first half (1H) net income rose 10% year-on-year, to COP$2.1 trillion (US$491 million), versus COP$1.9 trillion (US$483 million) in 1H 2021, even while the net margin actually dipped two percentage points. Revenues rose 28% year-on-year, to COP$15 trillion (US$3.5 billion), versus COP$11.7 trillion

Companies

Grupo Exito 2Q 2022 Net Income Rises 22.7% Year-on-Year

Medellin Herald July 28, 2022

Medellin-based multinational supermarket and dry-goods retailer Grupo Exito announced July 27 that its second quarter (2Q) 2022 net income rose 22.7% year-on-year, to COP$62.2 billion (US$14.2 million). Operating income likewise rose 27.6%, to COP$4.7 trillion (US$1.07 billion), while recurring earnings before interest, taxes, depreciation and amortization (EBITDA) rose

Companies

Cemex LatAm Reports Zero Profit for 2Q 2022

Medellin Herald July 28, 2022

Colombia-based Cemex LatAm announced July 28 that its second-quarter (2Q) 2022 operations produced zero profits, down from a modest US$16,000 net profit in 2Q 2021. Consolidated net sales rose 11% year-on-year on a comparable basis for the ongoing operations once including foreign exchange fluctuations, according to the company. “Higher cement prices and ready-mix volumes