Companies

EPM Wins Hidroituango Insurance Claim Worth Trillions; Finance Outlook Dramatically Improves

Medellin Herald September 17, 2019

EPM general manager Jorge Londoño de la Cuesta revealed in a September 17 press conference here in Medellin that insurer Mapfre just issued a letter of coverage worth trillions of Colombian pesos for damages at the under-construction, US$5 billion Hidroituango hydroelectric plant in Antioquia.

Companies

Grupo Familia 1H, 2Q 2019 Profits Rise Year-on-Year

Medellin Herald August 24, 2019

Medellin-based multinational paper products and personal-hygiene specialist Grupo Familia revealed in an August 20 filing with Colombia’s Superfinanciera corporate oversight agency that its first half (1H) 2019 net income rose to COP$126 billion (US$37 million), up from COP$98 billion (US$28 million) in 1H 2018. Gross revenues also rose, to COP$1.28 trillion (US$374

Companies

Grupo Orbis 2Q 2019 Net Income Greatly Improves Year-on-Year

Medellin Herald August 16, 2019

Medellin-based multinational Grupo Orbis – which includes paint manufacturing giant Pintuco – on August 15 reported COP$6 billion (US$1.7 million) net income for second quarter (2Q) 2019, a big reversal from a COP$17 billion (US$4.9 million) net loss in 2Q 2018. Earnings before interest, taxes, depreciation and amortization (EBITDA) skyrocketed by 490% year-on-year, to

Companies

Mineros SA 2Q 2019 Net Income Drops 41% Year-on-Year

Medellin Herald August 16, 2019

Medellin-based socially responsible gold miner Mineros SA announced that its second quarter (2Q) 2019 net income fell 41% year-on-year, to COP$11 billion (US$3.2 million). “The decrease in net income is mainly explained by an increase in financial expenses — close to COP$6.6 billion (US$1.9 million), derived from the acquisition of Gualcamayo [mining in Argentina],

Companies

Constructora Conconcreto 2Q 2019 Earnings Jump 70%

Medellin Herald August 15, 2019

Medellin-based construction giant Constructora Conconcreto announced August 9 that its second quarter (2Q) 2019 earnings jumped 70% year-on-year, to COP$57 billion (US$16.8 million). Earnings before interest, taxes, depreciation and amortization came-in at COP$105 billion (US$31 million), essentially flat year-on-year, while EBITDA margin was 25%. Consolidated revenues hit

Companies

Exito Posts 2Q 2019 Net Loss

Medellin Herald August 15, 2019

Medellin-based multinational retail giant Grupo Exito on August 14 reported a COP$18 billion (US$5.2 million) net loss for second quarter (2Q) 2019, down from a COP$114 billion (US$33million) net profit in 2Q 2018. Recurring earnings before interest, taxes, depreciation and amortization (EBITDA) were flat year-on-year, at COP$868 billion (US$252 million). Meanwhile,

Companies

Gran Colombia Gold 2Q 2019 Net Income Improves Year-on-Year

Medellin Herald August 15, 2019

Toronto, Canada-based Gran Colombia Gold (GCC) – operator of Colombia’s largest underground gold-mine in Antioquia – on August 14 reported second quarter (2Q) 2019 adjusted net income of US$14 million, up from US$8.2 million in 2Q 2018. Meanwhile, for the first half (1H) 2019, adjusted net income rose to US$27 million, up from US$18.1 million […]

Companies

EPM First-Half 2019 Net Income Jumps 29% Year-on-Year

Medellin Herald August 14, 2019

Medellin-based multinational electric power and public utilities giant EPM announced August 14 that its first half (1H) 2019 net income rose by 29% year-on-year, to COP$1.3 trillion (US$377 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 16%, to COP$2.9 trillion (US$841 million), while gross revenues increased by 12%, to COP$8.8

Companies

Grupo Argos 2Q Consolidated Net Income Dips 5.7%, but EBITDA Rises Year-on-Year

Medellin Herald August 14, 2019

Medellin-based Grupo Argos – holding company for electric power producer Celsia, cement maker Cementos Argos and highway/airports concessionaire Odinsa – on August 12 reported a 5.7% year-on-year dip in second-quarter (2Q) 2019 net income, at COP$219 billion (US$63 million). However, 2Q 2019 earnings before interest, taxes, depreciation and amortization (EBITDA) rose 18%

Companies

Construcciones El Condor Posts Net Loss for 2Q 2019

Medellin Herald August 14, 2019

Medellin-based highway construction giant Construcciones El Condor on August 14 posted a special COP$13 billion (US$3.7 million) net loss for second quarter (2Q) 2019, but expects to recoup this accounting loss by year-end. “This loss is entirely associated with the result of the ‘Vías de las Américas’ [highway] concession, which will affect the company temporarily […]