Companies

Compañía de Empaques Net Income Jumps 59% Year-on-Year

Medellin Herald April 3, 2022

Medellin-based natural-fibers and consumer/industrial/agricultural-packaging specialist Compañía de Empaques revealed April 1 that its full-year 2021 net income rose 59% year-on-year, to COP$32 billion (US$8.5 million). Sales in 2021 also rose 29%, to COP$613 billlion (US$164 million), while

Companies

GCM Mining (nee Gran Colombia Gold) Posts US$180 Million Net Profit for 2021

Medellin Herald April 1, 2022

Toronto-based GCM Mining (formerly known as Gran Colombia Gold, with principal operations in Antioquia) announced March 31 that its full-year 2021 net income rose to US$180 million, up from a US$27 million net loss in 2020. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for 2021 slipped year-on-year, to US$171.6 million, from US$187.8

Companies

Valores Industriales 2021 Profits Jump on Grupo Familia Stock Sale; Brinsa Shareholdings Rise to 31%

Medellin Herald April 1, 2022

Medellin-based Valores Industriales – an investment group dealing mainly in real-estate, forestry products and industrial/commercial operators including Medellin-based salt/chemicals giant Brinsa SA – announced March 31 that full-year 2021 profits jumped to COP$59 billion (US$15.7 million), up from COP$14.7 billion (US$3.9 million) in 2020. The big jump in profits came

Companies

Industrias Estra 2021 Net Loss Blamed on Feedstock Cost Inflation, National Strike

Medellin Herald March 25, 2022

Medellin-based industrial/consumer plastics-ware producer Industrias Estra announced March 24 a net loss of COP$1.96 billion (US$516,000) for full-year 2021, worse than the COP$1.4 billion (US$369,000) net loss in 2020. Gross revenues however actually rose year-on-year, to COP$86 billion (US$22.7 million), from COP$70 billion (US$18 million) in 2020, according to the

Companies

Isagen Full-Year 2021 Profits Rise 5% Year-on-Year

Medellin Herald March 25, 2022

Medellin-based electric power giant Isagen announced March 24 that its full-year 2021 net income rose 5% year-on-year, to COP$523 billion (US$138 million). Gross revenues rose 8% year-on-year, to COP$3.48 trillion (US$917 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 25% year-on-year, to COP$$2.27 trillion (US$598 million),

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 versus COP$1.1 trillion (US$289 million) in 2020. Commenting on the dip in

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