Companies

Construcciones El Condor Posts Net Loss for 1H 2021

Medellin Herald August 15, 2021

Medellin-based highway construction giant Construcciones El Condor on August 13 reported a first half (1H) 2021 net loss of COP$7.67 billion (US$2 million) — mainly a temporary accounting impact from presumed losses arising from its partial stake in the “Vías de las Américas”

Companies

Enka 1H 2021 Profits Rebound Year-on-Year

Medellin Herald August 15, 2021

Medellin-based textile and recycled plastics specialist Enka de Colombia announced August 13 that its first half (1H) 2021 net profits jumped to COP$29 billion (US$7.5 million), a reversal from a COP$4.4 billion (US$1.1 million) net loss in 1H 2020. Earnings before interest, taxes, depreciation and amortization (EBITDA) came-in at an all-time historic high — COP$37

Companies

Mineros 2Q 2021 Profits Rise Year-on-Year

Medellin Herald August 15, 2021

Medellin-based multinational gold mining giant Mineros SA announced August 10 that its second quarter (2Q) 2021 consolidated net profit rose to US$10.4 million, up from US$8.7 million in 2Q 2020. Revenues likewise rose, to US$128.4 million, up from US$126.3 million in 2Q 2020. But earnings before interest, taxes, depreciation and amortization (EBITDA) dipped to US$41.8

Companies

Mineros 2Q 2021 Profits Rise Year-on-Year

Medellin Herald August 15, 2021

Medellin-based multinational gold mining giant Mineros SA announced August 10 that its second quarter (2Q) 2021 consolidated net profit rose to US$10.4 million, up from US$8.7 million in 2Q 2020. Revenues likewise rose, to US$128.4 million, up from US$126.3 million in 2Q 2020. But earnings before interest, taxes, depreciation and amortization (EBITDA) dipped to US$41.8

Companies

Bancolombia 2Q 2021 Profits Dramatically Improve Year-on-Year

Medellin Herald August 14, 2021

Medellin-based multinational banking giant Bancolombia announced August 11 that its second quarter (2Q) 2021 net income rose to COP$1.2 trillion (US$312 million), up from a COP$73 billion (US$19 million)net loss in 2Q 2020. “This profit represents a growth of 113% compared to 1Q 2021 and a significant recovery from the net loss presented in 2Q […]

Companies

Grupo Argos 2Q 2021 Profits Skyrocket 534% Year-on-Year

Medellin Herald August 14, 2021

Medellin-based multinational cement, electric power and airport/highways concessionaire Grupo Argos announced August 12 that its second quarter (2Q) consolidated net income soared 534% year-on-year, to COP$392 billion (US$102 million). Revenues rose 20% year-on-year, to COP$4 trillion (US$1.04 billion), while earnings before interest, taxes, depreciation and amortization

Companies

Update: Ecopetrol Completes US$3.67 Billion Buyout of ISA Shares; Profits Also Improve

Medellin Herald August 14, 2021

Colombia President Ivan Duque announced August 20 that  Colombia’s mostly stated-owned Ecopetrol oil company has just paid US$3.67 billion to finalize the acquisition of 51.4% of the shares of Medellin-based multinational electric-power transmission giant, ISA. That 51.4% block of ISA stock had been held by Colombia’s Finance Ministry. Hence Ecopetrol’s

Companies

Grupo Sura 2Q 2021 Profits Jump 43% Year-on-Year

Medellin Herald August 14, 2021

Medellin-based multinational insurance, finance and health-care giant Grupo Sura announced August 12 that its second quarter (2Q) net income jumped 43% year-on-year, to COP$461 billion (US$120 million). Revenues likewise rose 15% year-on-year, to COP$6.1 trillion (US$1.58 billion), according to the company. As for first half (1H) 2021, net income is up a whopping 174%

Companies

Fabricato 1H 2021 Net Income Moves to Black Year-on-Year

Medellin Herald August 5, 2021

Medellin-based textile giant Fabricato announced August 4 that its first-half (1H) 2021 net income moved into the black year-on-year, to a net COP$2.4 billion (US$614,000), versus a COP$19.4 billion (US$4.96 million) net loss in 1H 2020. The 1H 2021 net profit “breaks the loss trend of the last five years,” according to the company. “We […]

Companies

Grupo Nutresa 2Q 2021 Profits Almost Unchanged Year-on-Year; 1H Profits Rise 11%

Medellin Herald July 31, 2021

Medellin-based multinational foods manufacturer and retailer Grupo Nutresa announced July 30 that its second-quarter (2Q) 2021 net income was essentially flat year-on-year, at COP$140.6 billion (US$36.3 million), versus COP$139.9 billion (US$36 million) in 2Q 2020. Operating revenues for 2Q 2021 rose to COP$2.9 trillion (US$748 million), up from COP$2.66 trillion (US$686