Companies

Mineros SA 3Q 2019 Net Income Triples Year-on-Year

Medellin Herald November 14, 2019

Medellin-based multinational gold mining giant Mineros SA on November 13 reported a 227% year-on-year boost in third quarter (3Q) 2019 net income, hitting COP$64.7 billion (US$18.7 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) likewise jumped 122%, to COP$127

Companies

Grupo Argos 3Q 2019 Net Income Jumps 26% Year-on-Year

Medellin Herald November 13, 2019

Medellin-based cement, electric power and highway/airport concessionaire Grupo Argos on November 13 reported a 26% year-on-year rise in third quarter (3Q) 2019 consolidated net income, to COP$516 billion (US$150 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) likewise rose 39% year-on-year, to COP$1.4 trillion (US$408 million), according

Companies

Enka 3Q 2019 Net Income More-Than-Triples Year-on-Year

Medellin Herald November 10, 2019

Medellin-based textiles and plastic-bottles recycling specialist Enka Colombia reported November 8 that its third quarter (3Q) 2019 net income hit COP$6.9 billion (US$2 million), up sharply from COP$1.8 billion (US$539,000) in 3Q 2018. Earnings before interest, taxes, depreciation and amortization (EBITDA) likewise rose, to COP$26 billion (US$7.8 million), versus COP$19.8

Companies

Conconcreto 3Q 2019 Profits Rise, but Construcciones El Condor 3Q Net Declines

Medellin Herald November 9, 2019

Medellin-based construction giants Construcciones El Condor and Constructora Conconcreto this month reported variable financial results for third quarter (3Q) 2019. For Conconcreto, 3Q 2019 net income rose 45% year-on-year, to COP$72.8 billion (US$21.8 million). Conconcreto attributed the boost in profits to “good results in construction projects and also execution of its

Companies

Celsia 3Q 2019 Net Income Nearly Quadruples Year-on-Year on Free-Zone Plant Sale

Medellin Herald November 8, 2019

Medellin-based electric power giant Celsia announced November 7 that its third quarter (3Q) 2019 net income soared by 390% year-on-year, to COP$315.6 billion (US$94 million), thanks to an extraordinary US$420 million gain from the sale of its 447-megawatts “Free Zone” (Zona Franca) power plant in Cartagena, Colombia. Earnings before interest, taxes,

Companies

Bancolombia 3Q 2019 Net Income Jumps 61.7% Year-on-Year

Medellin Herald November 8, 2019

Medellin-based multinational banking giant Bancolombia announced November 6 that its third quarter (3Q) 2019 net income rose 61.7% year-on-year, to COP $879 billion (US$263 million). “Gross loans grew 11.7% when compared to 3Q 2018 and 3.4% during the [latest] quarter,” according to Bancolombia. “The quarterly growth shows a moderate trend in the credit demand in […]

Companies

ISA 3Q 2019 Net Income Dips 1.7% Year-on-Year

Medellin Herald November 8, 2019

Medellin-based electric power transmission, highways concessions and telecom services giant ISA announced November 6 that its third quarter (3Q) net income dipped 1.7% year-on-year, to COP$406 billion (US$122 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) for 3Q 2019 also declined 10.7% year-on-year, to COP$1.24 trillion (US$371 million),

Companies

Cartama Exports First-Ever Hass Avocado Shipments to Japan

Medellin Herald November 8, 2019

Medellin-based avocado producer/exporter Cartama announced November 7 its first-ever exports of Hass avocados from its Pereira (Risaralda department) operations to Japan. Cartama – founded in the year 2000 with its first plantations in Amagá, Antioquia – gradually has expanded Colombian operations to Caldas and Risaralda departments, including a packing plant in Pereira.

Companies

Fabricato 3Q 2019 Sales Rise Year-on-Year, but Net Loss Worsens

Medellin Herald November 1, 2019

Medellin-based textile giant Fabricato on October 31 reported a third quarter (3Q) 2019 net loss of COP$13 billion (US$3.8 million), worse than the COP$9 billion (US$2.67 million) net loss in 3Q 2018. However, earnings before interest, taxes, depreciation and amortization (EBITDA) improved year-on-year, to COP$3 billion (US$891,000), versus COP$909 million (US$270,000) in

Companies

Corona, Cementos Molins Debut US$380 Cement Plant in Antioquia

Medellin Herald October 31, 2019

Spain-based Cementos Molins and Colombia-based multinational construction-materials producer and retailer Corona announced October 30 the start-up of their US$380 million, 1.5-million-tons/year, 50-50 joint venture “Empresa Colombiana de Cementos” (Ecocementos) cement plant near Sonson, Antioquia, east of Medellin. Commenting on the start-up, Cementos Molins spokesman