Companies

Fabricato Full-Year 2019 Financial Results Improve, but Still in Red

Medellin Herald March 31, 2020

Medellin-based textile giant Fabricato on March 30 announced that its full-year 2019 financial results improved 68% year-on-year — but still produced red ink. The net loss for 2019 was COP$10 billion (US$2.47 million), a big improvement over the 2018 net loss of COP$31.7 billion (US$7.8

Companies

Gran Colombia Gold Posts Full-Year 2019 Net Loss on Marmato Write-Down

Medellin Herald March 31, 2020

Toronto-based Gran Colombia Gold – Colombia’s biggest gold miner, principally in Antioquia – on March 30 reported a full-year 2019 net loss of US$131 million, far worse than the US$3.4 million net loss in 2018 — all because of a one-time accounting write-down. The loss was the result of an after-tax charge of US$153.6 million […]

Companies

Grupo Familia Full-Year 2019 Profits Jump 20% Year-on-Year

Medellin Herald March 31, 2020

Medellin-based multinational paper- and personal-hygiene products manufacturer Grupo Familia on March 30 revealed that its full-year 2019 net income rose 20.2% year-on-year, to COP$247 billion (US$61 million). Sales rose 10.9%, to COP$2.65 trillion (US$654 million), with foreign sales (up 13%) accounting for COP$1.3 trillion (US$321 million) of the total. Colombia sales

Companies

UNE-EPM Posts Modest Full-Year 2019 Profit, Reversing Losses in 2018

Medellin Herald March 31, 2020

Medellin-based nationwide telecom/internet/cable-TV giant UNE-EPM revealed March 31 that its full-year 2019 after-tax profits rose to a relatively modest COP$519 million (US$128,000) — up from a substantial COP$65 billion (US$16 million) net loss in 2018. The profits improvement is explained mainly by the sale of cell-phone towers along with more favorable results

Companies

EPM Full-Year 2019 EBITDA Rises 17% Year-on-Year

Medellin Herald March 27, 2020

Medellin-based multinational utilities giant EPM revealed in a March 27 filing with Colombia’s Superfinanciera corporate oversight agency that its full-year 2019 earnings before interest, taxes, depreciation and amortization (EBITDA) rose 17% year-on-year, to COP$6 trillion (US$1.5 billion). EBITDA margin hit 33% — best in five years, according to EPM. Out of its

Companies

EPM Maintains Investment-Grade Rating Following ‘CaribeMar’ Deal; Colombia Power Demand Dips on Coronavirus Crisis

Medellin Herald March 25, 2020

Medellin-based electric power giant EPM announced March 24 that Wall Street bond rater Moody’s just decided to maintain EPM’s “Baa3” investment-grade bond rating following its winning bid for the “CaribeMar” utility in Colombia’s Caribbean region. “After the analysis of non-recurring issues that the company has been going through — such as the [three-year

Companies

EPM Wins ‘CaribeMar’ Utility Auction, Becomes Colombia’s Biggest Electric Power Player

Medellin Herald March 20, 2020

Medellin-based multinational electric power giant EPM announced March 20 that it won the auction bidding for the “CaribeMar” assets formerly belonging to the financially troubled, state-owned “Electricaribe” power utility around the Caribbean coast of Colombia. As a result, EPM “will be the new operator of the electric power service in Bolívar, Cesar, Córdoba and Sucre”

Companies

ISA Full-Year 2019 Net Income Rises 7.5% Year-on-Year

Medellin Herald March 5, 2020

Medellin-based multinational electric power transmission, highways concessions and telecom service provider ISA announced March 4 that its full-year 2019 net income rose 7.5% year-on-year, to COP$1.6 trillion (US$457 million). Revenues rose 12.5% year-on-year, to COP$8.1 trillion (US$2.3 billion), while earnings before interest, taxes, depreciation and amortization

Companies

Mineros SA 2019 Profits Dip Year-on-Year Due to Argentina Acquisition-Cost Calculation

Medellin Herald March 4, 2020

Medellin-based multinational gold mining giant Mineros SA on March 4 reported a 27% year-on-year profits drop for full-year 2019 — due to an accounting calculation for costs of its Argentinian mining acquisition, which it got at a relatively favorable price in 2018. Full-year 2019 net income came-in at COP$123 billion (US$35.6 million), with the dip […]

Companies

Conconcreto Full-Year 2019 Profits Dip 11% Year-on-Year

Medellin Herald March 2, 2020

Medellin-based highway, tunnel and buildings-construction giant Constructora Conconcreto on March 2 reported an 11% decline year-on-in full-year 2019 profits, to COP$64.8 billion (US$18 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) also dipped 13%, to COP$170 billion (US$48 million), while gross revenues fell 12%, to COP$945 billion