Companies

Argos 3Q 2018 Net Income Jumps 37% Year-on-Year

Medellin Herald November 15, 2018

Medellin-based cement, electric power and road/airport concessionaire Grupo Argos announced November 14 that its third quarter (3Q) 2018 net income rose 37% year-on-year, hitting COP$410 billion (US$128 million). As for nine-months 2018, Argos has posted an accumulated profit of COP$864 billion

Companies

Bancolombia 3Q 2018 Net Income Jumps 20.5% Year-on-Year

Medellin Herald November 9, 2018

Medellin-based banking giant Bancolombia announced November 7 that its third quarter (3Q) 2018 net income rose 20.5% year-on-year, to COP$543 billion (US$172 million). However, this positive year-on-year result in 3Q 2018 was offset by an 8.2% decline in net income compared to 2Q 2018. “Gross loans [in 3Q 2018] grew by 4.0% when compared to […]

Companies

ISA 3Q 2018 Net Income Jumps 30% Year-on-Year

Medellin Herald November 8, 2018

Medellin-based multinational electric power transmission and highway concessionaire ISA announced November 7 that its third quarter (3Q) 2018 net income rose 30.2% year-on-year, to COP$413 billion (US$131 million). Gross revenues rose 8.3% year-on-year, to COP$1.9 trillion (US$605 million), with power transmission revenues showing the biggest yearly gain, by 16.7%,

Companies

Celsia 3Q 2018 Net Profit Drops 31% Year-on-Year; Renewables Projects Growing

Medellin Herald November 7, 2018

Medellin-based electric-power giant Celsia announced November 6 that its third quarter (3Q) 2018 net profit dropped 31% year-on-year, to COP$64 billion (US$20 million). However, nine-months 2018 net profits so far have risen 35% year-on-year, to COP$243 billion (US$77 million), according to Celsia. Consolidated revenues for 3Q 2018 rose 8.5% year-on-year, to COP$852

Companies

Fabricato Trims Losses in 3Q 2018

Medellin Herald November 4, 2018

Medellin-based textile giant Fabricato on November 2 posted a third quarter (3Q) net loss of COP$9 billion (US$2.8 million), an improvement over the COP$19 billion (US$5.9 million) net loss in 3Q 2017. Earnings before interest, taxes, depreciation and amortization (EBITDA) also improved year-on-year, with a positive COP$909 million (US$285,000) in 3Q 2018 versus a COP$6

Companies

EPM Wins Crucial Asset-Sales OK, Starts to Overcome Hidroituango Crisis

Medellin Herald October 30, 2018

The Medellin City Council early this morning (October 30) voted 16-5 to approve EPM’s sale of an estimated COP$4 billion (US$1.25 billion) worth of non-strategic assets in order to fill a gaping fiscal hole left by problems with its under-construction “Hidroituango” hydroelectric dam here in Antioquia. The vote followed dozens of public hearings, City Council […]

Companies

Nutresa 3Q 2018 Net Profit Jumps 19% Year-on-Year

Medellin Herald October 28, 2018

Medellin-based multinational foods giant Nutresa reported October 26 that its third quarter (3Q) 2018 net profit rose 19% year-on-year, to COP$386 billion (US$121 million). “This growth is the result of a balanced equation that includes rising sales, efficiency in purchase of basic materials, productivity programs, lower growth in operating expenses and a continuing

Companies

Nutresa 3Q 2017 Profits Rise 3.6% Year-on-Year

Medellin Herald October 27, 2018

Medellin-based multinational foods manufacturer Grupo Nutresa announced October 27 that its third quarter (3Q) 2017 net consolidated profit rose 3.6% year-on-year, to COP$324 billion (US$107 million), while gross profit rose 3% year-on-year, to COP$2.8 trillion (US$930 million). Sales in Colombia grew 3.1% year-on-year, to COP$4 trillion (US$1.3 billion), while

Companies

Cemex Colombia 3Q 2018 Sales Dip, but EBITDA Improves

Medellin Herald October 26, 2018

Cemex LatAm Holdings reported October 25 that its Colombia division saw third quarter (3Q) 2018 sales dip 5% year-on-year, to US$134 million, but operating earnings before interest, taxes, depreciation and amortization (EBITDA) rose 11%, to US$26 million. Gross profit also rose 11% year-on-year in Colombia, to US$53 million, while operating margin rose 15.9% year-on-year,

Companies

Everfit Bankruptcy Reorganization Wins SuperSociedades OK

Medellin Herald October 25, 2018

Colombia’s corporate oversight agency Superintendencia de Sociedades (SuperSociedades) announced October 25 that Medellin-based clothing manufacturer Everfit won approval for its bankruptcy reorganization plan. According to SuperSociedades, “the [reorganization] agreement has an expected duration of six years and 10 months. This [deal] seeks the conservation of about 100