Companies

EPM’s 2020 Capex, Opex Budget Tops US$4.9 Billion

Medellin Herald November 26, 2019

Medellin-based multinational utilities giant EPM announced November 25 that its 2020 capital and operating budget will hit COP$17 trillion (US$4.9 billion). “The budget authorized by the EPM board of directors responds to a rigorous planning exercise and includes resources for the attention of

Companies

Gran Colombia Gold 3Q 2019 Profits Dip; Continental Gold Eyes 2020 Start-Up, Touts Social, Environmental Projects

Medellin Herald November 18, 2019

Toronto, Canada-based Gran Colombia Gold (GCG) on November 14 reported US$9 million net income for third quarter (3Q) 2019, down from US$14 million in 3Q 2018 “primarily as a result of a non-operating loss on financial instruments in the third quarter this year.” As for nine-months (January through September) 2019, net income rebounded to US$17.7 […]

Companies

EPM 3Q 2019 Net Income Falls Year-on-Year, but Nine-Months 2019 Improves

Medellin Herald November 16, 2019

Medellin-based multinational utilities giant EPM announced November 15 that its third quarter (3Q) 2019 consolidated net income fell 25% year-on-year, to COP$457 billion (US$134 million), down from COP$607 billion (US$177 million) in 3Q 2018. The 3Q decline came despite a 9% year-on-year hike in gross revenues and a 13% boost in earnings before interest, taxes, […]

Companies

Orbis Posts Year-on-Year Profits Recovery in 3Q 2019

Medellin Herald November 15, 2019

Medellin-based multinational Grupo Orbis – producer of “Pintuco” paints, “Otek” water-handling systems and numerous chemical products – on November 14 posted a COP$10 billion (US$2.9 million) net profit, a big reversal from the COP$8 billion (US$2.3 million) net loss in 3Q 2018. Gross revenues rose 6.3% year-on-year, to COP$1.08 trillion (US$315 million), while earnings

Companies

Sura 3Q 2019 Net Income Jumps 35% Year-on-Year

Medellin Herald November 15, 2019

Medellin-based multinational insurance and investment specialist Grupo Sura on November 14 posted a 35% year-on-year jump in third quarter (3Q) 2019 net income, to COP$1.5 trillion (US$438 million). The biggest contributor to net income (COP$682 billion/US$199 million) in the latest quarter came from the Sura Asset Management (AM) division, which manages a growing basket

Companies

Following Brazil Sale, Exito Posts COP$11 Billion Net Income for 3Q 2019

Medellin Herald November 15, 2019

Medellin-based multinational supermarket giant Grupo Exito on November 14 posted a COP$11 billion (US$3.2 million) net income for third quarter (3Q) 2019 – not comparable to 3Q 2018 since its former Brazilian operations are now officially listed as a “discontinued operation.” Following a September 12 decision by most Exito stockholders and its board, Grupo Exito […]

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 billion (US$37 million), while EBITDA margin also rose to 35.8%, from 31% in 3Q

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