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

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

Companies

Nutresa 3Q 2019 Net Profit Grows 6.9% Year-on-Year

Medellin Herald October 26, 2019

Medellin-based multinational foods giant Grupo Nutresa on October 25 reported that third quarter (3Q) 2019 net profits grew 6.9% year-on-year, to COP$412 billion (US$121 million). Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) likewise rose 18% year-on-year, to COP$992 billion (US$292 million), while margin on sales grew by 13.8%,

Companies

Cemex Colombia 3Q 2019 Cement Sales Grow, but Profits Dip

Medellin Herald October 25, 2019

Colombia-based Cemex LatAm Holdings announced October 24 that its third-quarter (3Q) 2019 sales of grey cement grew year-on-year, but profits declined. According to Cemex LatAm – which produces and markets concrete and cement in Colombia, Panama, Costa Rica, Nicaragua, El Salvador, and Guatemala – 3Q 2019 produced a corporate-wide net loss of US$4 million, compared […]

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. The exact amount of payment won’t be known for months, as […]

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,