Companies

EPM 2015 Earnings Rise 14% Year-on-Year; Revenues Up 18%

Medellin Herald April 6, 2016

Medellin-based public utility EPM – now a multinational operating 48 different companies in seven Central American and South American countries – on April 5 presented its full-year 2015 results, showing a 14% hike year-on-year in profits and an 18% jump in revenues. The city of Medellin – the

Companies

Medellin-Based Grupo Familia 2015 Net Profits Rise 25% Year-on-Year

Medellin Herald April 1, 2016

The board of directors of Medellin-based Grupo Familia – producers and marketers of mainly paper-based personal hygiene products in 20 countries throughout South America and the Caribbean – on March 31 approved the company’s full-year 2015 financial report showing net profits rising nearly 25% year-on-year, to COP$202 billion (US$67 million). Sales volume also rose,

Companies

UNE 2015 EBITDA Rises 11%, but IFRS Accounting Triggers Net Loss

Medellin Herald April 1, 2016

Medellin-based telecom giant UNE – formerly owned by public utility EPM but now owned by Sweden-based Millicom – reported a 11% year-on-year rise in 2015 earnings before interest, taxes, depreciation and amortization (EBITDA) to COP$1.4 trillion (US$460 million). Revenue also grew by 7.3% year-on-year for the company – second-biggest in Colombia. UNE (and subsidiaries

Companies

Gran Colombia Gold 2015 EBITDA Improves; Gold-Price Drop Causes Net Loss

Medellin Herald March 31, 2016

Canada-based Gran Colombia Gold (GCG) announced March 30 that its full-year 2015 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose to US$38.4 million, from US$10.8 million in 2014. However, the company posted an adjusted net loss of $1.1 million in 2015, compared to an adjusted net loss of $17.9 million in 2014. GCG […]

Companies

Bancolombia’s Investment-Bank Division Wins Global Finance ‘Innovator’ Award

Medellin Herald March 28, 2016

Bancolombia announced March 28 that its investment banking division (“Banca de Inversion Bancolombia”) nabbed the top award for “most innovative” from Global Finance for investment banking in the entire Latin America region during 2015. It’s the first-ever Latin-America regional award for Bancolombia, although its investment-banking division has also taken top honors for

Companies

Mineros SA Boosting Environmental, Social Projects: Heart of Gold

Medellin Herald March 21, 2016

On the heels of reporting a 60% jump in profits last year, Medellin-based gold miner Minerors SA released its latest annual “sustainability” report showing that company-wide environmental spending rose to COP8.96 billion (US$2.9 million) in 2015, up from COP6.79 billion (US$2.2 million) in 2014. The company also invested millions more in dozens of social projects […]

Companies

ProColombia Touts Medellin-Based Ubidots in ‘Successful Cases’ Report

Medellin Herald March 21, 2016

ProColombia – the national government’s export promotion agency – on March 16 touted Medellin-based, high-tech-sensor maker Ubidots as an outstanding example of successful international business development. “India irrigation systems, water levels in England, and handling of intelligent lamps in Germany are some of the processes that Ubidots monitors from Medellin,”

Companies

Fabricato, Coltejer Report Improved Financial Results in 2015

Medellin Herald March 3, 2016

Medellin-based textile manufacturer Fabricato revealed February 24 in a filing with the Superintendencia Financiera de Colombia that its fourth quarter (4Q) net income rose to COP4.9 billion (US$1.5 million), up from a net loss of COP11.6 billion (-US$3.6 million) in 4Q 2014. Earnings before interest, taxes, depreciation and amortization (EBITDA) for 4Q 2015 rose to […]

Companies

Conconcreto, Construcciones El Condor 2015 Profits Jump on Infrastructure Projects

Medellin Herald March 3, 2016

Medellin-based construction industry giants Conconcreto and Construcciones El Condor both reported March 1 that revenues and profits are soaring thanks to recent, current and future launches of giant construction projects including the “fourth generation” (4G) highways and related ocean freight ports. According to Conconcreto, full-year 2015 profits soared 305%

Companies

Medellin-Based Exito Retail Chain Reports Huge Growth in 2015

Medellin Herald March 2, 2016

Medellin-based supermarket and retail chain Grupo Exito announced March 1 that its full-year 2015 consolidated revenues skyrocketed by 219% thanks to recent acquisitions in Brazil, Argentina and Uruguay, in addition to continuing growth in Colombia. Consolidated revenues hit COP33.4 trillion (US$10 billion) in 2015, while net income rose 14.8% year-on-year (y-o-y), to