Companies

Protección Full-Year 2021 Profits Dip Year-on-Year

Medellin Herald March 24, 2022

Medellin-based pension-funds manager Protección announced that its full-year 2021 net income dipped to COP$276 billion (US$72.6 million), down from COP$291 billion (US$76.5 million) in 2020. Gross income nevertheless actually rose year-on-year, to COP$1.15 trillion (US$302 million) in 2021

Companies

UNE-EPM Full-Year 2021 Net Losses Worsen Year-on-Year

Medellin Herald March 24, 2022

Medellin-based telecom/internet/cable-TV giant UNE-EPM – a joint venture between Medellin utility EPM and Spain-based telecom multinational Millicom – announced a COP$572 billion (US$150.5 million) net loss for full-year 2021, more than twice the COP$212 billion (US$55.8 million) net loss in 2020. While red-ink continues to bleed the company (popularly known as

Companies

EPM Full-Year 2021 Profits Dip Versus Full-Year 2020

Medellin Herald March 23, 2022

Medellin-based multinational utilities giant Grupo EPM announced March 23 that its full-year 2021 net income dipped to COP$3.3 trillion (US$872 million), down from COP$3.7 trillion (US$978 million) for full-year 2020. Despite the profits dip, 2021 revenues grew 28% year-on-year, to COP$25.3 trillion (US$6.7 billion), while earnings before interest, taxes, depreciation and

Companies

Valores Simesa Trims Net Loss in Full-Year 2021 Versus 2020

Medellin Herald March 17, 2022

Medellin-based real-estate developer Valores Simesa – 66% of which is owned by Bancolombia’s investment-banking division — announced March 16 that its full-year 2021 net loss came-in at COP$4.56 billion (US$1.2 million), an improvement over the COP$12.47 billion (US$3.26 million) net loss in 2020. Valores Simesa –created via a spin-off from the long-defunct

Companies

Coltejer Posts Huge Financial Declines for Full-Year 2021

Medellin Herald March 9, 2022

Medellin-based historical textile giant Coltejer revealed in a March 8 filing with Colombia’s Superfinanciera financial oversight agency that its full-year 2021 net loss grew to a negative COP$121 billion (US$32 million), compared to a net loss of COP$94 billion (US$25 million) in 2020. Sales plummeted to COP$16.9 billion (US$4.5 million) in 2021, versus COP$74.8 billion

Companies

Enka Full-Year 2021 Profits More-Than-Triple Year-on-Year

Medellin Herald March 6, 2022

Medellin-based textiles and plastics recycling giant Enka de Colombia announced March 4 that its full-year-2021 net income jumped 3.8-times over 2020, hitting COP$57.4 billion (US$15 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) doubled, to COP$76.4 billion (US$19.9 million), even though gross revenues were almost flat year-on-year, at

Companies

Conconcreto Full-Year 2021 Profits Soar, but Construcciones El Condor Profits Fall

Medellin Herald March 1, 2022

Medellin-based construction giant Conconcreto announced this morning (March 1) that its full-year 2021 net income rose 108.8% year-on-year, to COP$48 billion (US$12 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) also rose 35.6% year-on-year, to COP$139 billion (US$35.4 million), according to the company. Revenues also rose 31%

Companies

Mineros Full-Year 2021 Profits Dip 31% Year-on-Year

Medellin Herald February 28, 2022

Medellin-based multinational gold mining giant Mineros SA announced February 28 that its full-year 2021 net income dropped 31% year-on-year, to COP$162 billion (US$41.3 million). However, revenues increased 4% year-on-year, to COP$1.8 trillion (US$459.6 million), versus COP$1.79 trillion (US$457 million) in 2020. The revenue boost came from a “slight increase in gold

Companies

Grupo Sura Full-Year 2021 Net Income Soars 353% Year-on-Year

Medellin Herald February 26, 2022

Medellin-based multinational insurance, pensions, health care and financial services giant Grupo Sura announced February 25 that its full-year 2021 net income jumped 353% year-on-year, to COP$1.5 trillion (US$282 million). Operating earnings rose 16.5% year-on-year, to COP$24.8 trillion (US$6.64 billion) — COP$4 trillion (US$1.02 billion) more than in 2020 —

Companies

Nutresa Full-Year 2021 Profits Rise 17.6% Year-on-Year

Medellin Herald February 25, 2022

Medellin-based multinational foods giant Grupo Nutresa reported February 24 a 17.6% year-on-year hike in full-year 2021 net income, hitting COP$676 billion (US$172 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) likewise rose 6.2% year-on-year, to COP$1.37 trillion (US$349 million), from COP$1.3 trillion (US$331 million) in 2020. Gross