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

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

Companies

EPM 1Q 2021 Net Income Rises 31% Year-on-Year

Medellin Herald April 21, 2021

Medellin-based multinational electric power and utilties giant EPM announced April 27 that its first quarter (1Q) 2021 net income jumped 31% year-on-year, to COP$856 billion (US$230 million). Revenues rose 18% year-on-year, to COP$5.6 trillion (US$1.5 billion), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 12%, to COP$1.7 trillion