Companies

‘E-Commerce’ Specialist Cadena Reports Digital Transformation, 40% EBITDA Growth

Medellin Herald May 18, 2018

Medellin-based e-commerce, logistics, warehouse, document security, billing and customer-communications specialist Cadena announced May 17 that its full-year 2017 earnings before interest, taxes, depreciation and amortization (EBITDA) rose 40% year-on-year, with EBITDA margin at 13.4%. Sales

Companies

Construcciones El Condor Sees 1Q 2018 Profits Drop 86% Year-on-Year

Medellin Herald May 17, 2018

Medellin-based highway and buildings construction specialist Construcciones El Condor announced this month that its first quarter (1Q) 2018 net profits plunged 86% year-on-year, to COP$17.3 billion (US$5.9 million), down from COP$124 billion (US$43 million) in 1Q 2017. Earnings before interest, taxes, depreciation and amortization (EBITDA) likewise fell sharply, to COP$34

Companies

Bancolombia 1Q 2018 Net Profit Dips 14% Year-on-Year

Medellin Herald May 16, 2018

Medellin-based banking giant Bancolombia announced May 15 that its first-quarter (1Q) 2018 net profit dipped 14% year-on-year, to COP$522 billion (US$181.7 million). Gross loans in 1Q 2018 grew 4.1% when compared to 1Q 2017 “and decreased by 1.1% during the quarter,” according to Bancolombia. “This annual growth shows moderation in the credit demand in Colombia, […]

Companies

Grupo Argos Net Profits Jump 53% Year-on-Year

Medellin Herald May 16, 2018

Medellin-based electric power, cement, construction and highway/airport concessionaire Grupo Argos announced May 15 that its first quarter (1Q) 2018 net profits jumped 53% year-on-year, to COP$210 billion (US$73 million). Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 9% year-on-year, to COP$941 billion (US$328 million), while

Companies

Exito 1Q 2018 Net Income Rises Year-on-Year

Medellin Herald May 16, 2018

Medellin-based multinational retail giant Grupo Exito announced May 15 that its first quarter (1Q) 2018 net profits rose year-on-year to COP$9.98 billion (US$3.5 million), up COP$17.5 billion (US$6 million) from the COP$7.6 million (US$2,600) net loss posted in 1Q 2017. Operating income also rose 6.3% year-on-year, to COP$13.7 trillion (US$4.78 billion), the company

Companies

Enka Colombia 1Q 2018 Net Income Drops Year-on-Year, but Outlook Improves

Medellin Herald May 15, 2018

Medellin-based synthetic textiles specialist Enka Colombia announced May 11 that its first quarter (1Q) 2018 net income fell to COP$1.7 billion (US$591,000), down from COP$4.2 billion (US$1.4 million) in 1Q 2017. Operating income for 1Q 2019 rose 8.4% year-on-year, to COP$91.9 billion (US$32 million), but earnings before interest, taxes, depreciation and amortization

Companies

Medellin Software Startup ‘Alegra’ Wins ‘Endeavor’ Recognition; Expands Internationally

Medellin Herald May 14, 2018

Medellin-based software whiz-kids Jorge Soto and Santiago Villegas just won recognition in the prestigious “Endeavor Entrepreneurs” competition at Endeavor’s 79th “International Selection Panel” (ISP) in Louisville, Kentucky. Soto, the chief executive officer (CEO) of Medellin accounting software pioneer Alegra, and Villegas, the chief technology officer (CTO) of the

Companies

Gran Colombia Gold 1Q 2018 Profits Rise, but Mineros SA Earnings Decline

Medellin Herald May 12, 2018

Canada-based Gran Colombia Gold reported May 10 that profits from its first quarter (1Q) 2018 gold mining operations here in Antioquia rose to US$5.4 million, up from an $800,000 net loss in 1Q 2017. The company credited “higher gold sales volumes, realized gold prices and lower total cash costs per ounce” for the year-on-year profit […]

Companies

Conconcreto 1Q 2018 Net Income Drops Sharply; ‘Oriente’ Highway Feasibility Report Due in May

Medellin Herald May 9, 2018

Medellin-based construction giant Conconcreto reported May 9 that its first quarter (1Q) 2018 consolidated net income dropped 86% year-on-year, to COP$2 billion (US$698,000). Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) also dropped by 36% year-on-year, to COP$33 billion (US$11.5 million). Colombia’s relatively weak economic growth,

Companies

ISA 1Q 2018 Net Income Jumps 24% Year-on-Year

Medellin Herald May 9, 2018

Medellin-based international electric-power transmitter and highway concessionaire ISA announced May 9 that its first quarter (1Q) 2018 net income rose 24% year-on-year, to COP$297 billion (US$103 million). Gross revenues climbed 3.6% year-on-year, to COP$1.6 trillion (US$558 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 12%