Companies

Mineros SA 1Q 2021 Net Income Dips 14% Year-on-Year

Medellin Herald May 11, 2021

Medellin-based multinational gold mining giant Mineros SA announced May 10 that its first quarter (1Q) 2021 net income dipped 14% year-on-year, to US$13.8 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 7% year-on-year, to US$45.1 million, while gross

Companies

ISA 1Q 2021 Net Income Jumps 32% Year-on-Year

Medellin Herald May 7, 2021

Medellin-based multinational electric power transmission giant ISA on May 6 announced a 32.4% year-on-year jump in first quarter (1Q) 2021 net income, to COP$508 billion (US$135 million). Operating revenues also rose 14% year-on-year, to COP$2.4 trillion (US$638 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 14.3%, to COP$1.5

Companies

Fabricato 1Q 2021 Net Loss an Improvement over 1Q 2020

Medellin Herald May 6, 2021

Medellin-based textile giant Fabricato revealed May 5 in a filing with Colombia’s Superfinanciera oversight agency that it posted a COP$2.27 billion (US$598,000) net loss for first quarter (1Q) 2021, an improvement over the COP$9 billion (US$2.37 million) net loss in 1Q 2020. Earnings before interest, taxes, depreciation and amortization (EBITDA) in its main textile

Companies

Bancolombia Posts 61% Year-on-Year Gain in 1Q 2021 Net Income

Medellin Herald May 5, 2021

Medellin-based multinational banking giant Bancolombia on May 4 reported a COP$542 billion (US$141 million) net profit for first quarter (1Q) 2021, up 61% over the COP$335 billion (US$87 million) net profit in 1Q 2020. Net interest income in the latest quarter totaled COP$282 billion (US$73 million), up 26% over 4Q 2020 but down 3% from […]

Companies

Grupo Exito 1Q 2021 Net Income Quadruples Year-on-Year

Medellin Herald May 5, 2021

Medellin-based multinational supermarket and dry-goods retailer Grupo Exito on May 4 reported a four-fold jump in net income for first quarter (1Q) 2021, to COP$84.8 billion (US$22 million), versus COP$21.9 billion (US$5.7 million) in 1Q 2020. Recurring earnings before interest, taxes, depreciation and amortization (EBITDA) rose 16.7% year-on-year, to COP$306 billion

Companies

PharmaCielo 2020 Losses Worsen Year-on-Year

Medellin Herald May 3, 2021

Toronto-based PharmaCielo – owner of a medical-marijuana production and processing facility in the eastern Medellin suburb of Rionegro – on May 3 posted a full-year 2020 net loss of Cdn$43.7 million (US$35.6 million), worse than the Cdn$34.7 million (US$28 million) loss in 2019. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) came in at

Companies

Nutresa 1Q 2021 Profits Jump 20.6% Year-on-Year

Medellin Herald May 1, 2021

Medellin-based multinational foods manufacturing and retailing giant Grupo Nutresa reported April 30 that its first quarter (1Q) 2021 net profit rose 20.6% year-on-year, to COP$233 billion (US$62 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) also rose by 5.7%, to COP$397.5 billion (US$106 million), while sales rose 6.6%, to COP$2.8

Companies

Cemex LatAm Posts 1Q 2021 US$3.8 Million Net Profit, up from Net Loss in 1Q 2020

Medellin Herald April 29, 2021

Colombia-based Cemex LatAm Holdings reported a US$3.8 million net profit for first quarter (1Q) 2021, up sharply from a US$30.4 million net loss in 1Q 2020. “Consolidated net sales during the first quarter of 2021 increased 7% on a like-for-like basis adjusted for currency fluctuations, compared to the first quarter of 2020,” according to the […]

Companies

Sweden-Based Essity Buys 94% of Medellin’s Grupo Familia in Personal-Hygiene-Market Deal

Medellin Herald April 23, 2021

Sweden-based multinational personal-hygiene-products giant Essity announced last night (April 22) that it just paid US$1.54 billion to boost its shareholding in Medellin-based counterpart Grupo Familia to “at least 94%,” up from 50% previously. According to company CEO Magnus Groth, “Essity has been a [partial] owner in Familia since 1985.With this acquisition we are

Companies

Hidroituango Project Threatened by New Comptroller Embargoes

Medellin Herald April 21, 2021

EPM’s problem-plagued, US$5 billion “Hidroituango” hydroelectric project is facing yet another threat from a new assets-embargo order brought by Colombia’s Comptroller-General against one or possibly all of the Hidroituango construction contractors. In an April 21 press conference, EPM general manager Jorge Andrés Carrillo Cardoso cautioned that the full, immediate impact