Companies

PharmaCielo Full-Year 2018 Net Loss Grows; Commercial Sales to Begin 3Q 2019

Medellin Herald July 11, 2019

Canada-based medical-marijuana developer PharmaCielo – whose research and operating-group headquarters are in Rionegro, Antioquia – announced April 18, 2019 a full-year 2018 net loss of US$24.4 million, worse than the US$7.6 million net loss in 2017. “This net loss was primarily due to

Companies

AeroMexico, Interjet Expand Medellin-Mexico, U.S.-Connecting Flight Options

Medellin Herald July 11, 2019

AeroMexico and Interjet – both based in Mexico City – simultaneously announced May 9, 2019 the expansion of nonstop flights between Medellin and Mexico, with onward connections. AeroMexico has been offering twice-weekly nonstop service to/from Medellin and Cancun since last November 17 — and just decided to continue those flights beyond its earlier, original plan

Companies

Orbis Pintuco 2018 results February 2019

Medellin Herald July 11, 2019

Orbis Posts US$1 Million Net Loss for Full-Year 2018 Medellin-based multinational paints and building-supplies manufacturer Grupo Orbis revealed February 14, 2019 in a filing with Colomba’s Superfinanciera corporate oversight agency that it posted a COP$3.2 billion (US$1 million) net loss for full-year 2018, compared to a COP$40.7 billion (US$12.9 million) net profit in

Companies

Coltejer, Fabricato Post Net Losses for Full-Year 2018 March 2019

Medellin Herald July 11, 2019

Coltejer, Fabricato Post Net Losses for Full-Year 2018:Textile Contraband Boss Arrested Medellin-based textile giant Coltejer revealed in a March 5, 2019 filing with Colombia’s Superfinanciera oversight agency that it suffered a COP$29 billion (US$9.3 million) net loss for full-year 2018, 17% worse than the COP$24.7 billion (US$7.9 million) net loss in 2017. Sales also

Companies

Conconcreto Full-Year 2018 Profits March 2019

Medellin Herald July 11, 2019

Conconcreto Full-Year 2018 Profits Dip Slightly Year-on-Year Medellin-based construction giant Constructora Conconcreto reported February 26, 2019 that its full-year 2018 net profits dipped to COP$74.8 billion (US$24 million), down from COP$78 billion (US$27 million) in 2017. On the other hand, “during 2018, the company successfully made a plan to sell non-strategic assets

Companies

EPM 2018 results March 2019

Medellin Herald July 11, 2019

EPM Full-Year 2018 Profits Rise 4% Despite Hidroituango Problems Medellin-based multinational electric power giant EPM reported March 26, 2019 that its full-year 2018 net profits rose 4% year-on-year, to COP$2.4 trillion (US$758 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 8% year-on-year, to COP$5.1 trillion (US$1.6 billion),

Companies

ISA 2018 results March 219

Medellin Herald July 11, 2019

ISA Full-Year 2018 Profits Rise 6% Year-on-Year Medellin-based multinational electric power transmission operator and highways concessionaire ISA announced March 7, 2019 that its full-year 2018 net income rose 6% year-on-year, to COP$1.5 trillion (US$483 million). Revenues also rose 4% year-on-year, to COP$7.2 trillion (US$2.3 billion), while earnings before interest,

Companies

Mineros SA 2018 results March 2019

Medellin Herald July 11, 2019

Socially Responsible Gold Miner Mineros SA Sees 2018 Profits Jump 33% Year-on-Year Medellin-based multinational gold mining giant Mineros SA announced March 13, 2019 that its full-year 2018 net income rose 33% year-on-year to COP$156 billion (US$50 million), from COP$117 billion (US$37 million) in 2017. Gross revenues and gold prices also rose a bit more than […]

Companies

Cemex Maceo plant deal April 2019

Medellin Herald July 11, 2019

Cemex Colombia Partially Unblocks Stalled Maceo, Antioquia Cement Plant Cemex Colombia revealed in an April 12, 2019 filing with Colombia’s Superfinanciera corporate oversight agency that it reached a deal with the national Procuraduría General (corporate/political disciplinary regulator) that would partially clear the way to start-up a US$420 million cement-manufacturing

Companies

Grupo Sura 2Q 2019 Net Income Rises 37% Year-on-Year

Medellin Herald April 15, 2019

Medellin-based insurance giant Grupo Sura announced August 14 that its second quarter (2Q) 2019 net income jumped 37.4% year-on-year, to COP$951 billion (US$276 million). “An improved performance on the part of its investment portfolios along with higher revenues obtained from its associates via the equity method were key factors in achieving this level of results,” […]