Business Companies Uncategorized

Grupo IMSA 2Q 2024 Net Profit Plunges 81%, But 1H Profits Up 50%

Medellin Herald August 17, 2024

Medellin-based multinational diversified manufacturer-marketer Grupo IMSA announced August 16 an 81% year-on-year decline in second quarter (2Q) 2024 net income, to COP$8.7 billion (US$2.16 million), from COP$47.3 billion (US$11.7 million) in 2Q 2023. However, gross revenues for 2Q 2024 rose 8%

Business Companies

UNE-EPM (Tigo) Posts Net Loss for 2Q 2024, Outlines Market-Exit Plan

Medellin Herald August 15, 2024

Medellin-based UNE-EPM –half-owner of the “Tigo” cell-phone, internet and cable-TV venture (with Millicom owning the other half) in Colombia – announced August 14 a COP$33.9 billion (US$8.4 million) net loss for second quarter (2Q) 2024, an improvement over the COP$290.6 billion (US$72 million) net loss in 2Q 2023. Revenues also dipped slightly, to COP$1.34 trillion […]

Business Companies

Grupo Argos 1H 2024 Profits Jump 566% Year-on-Year

Medellin Herald August 15, 2024

Medellin-based Grupo Argos – parent company of Cementos Argos, Celsia and Odinsa – announced August 14 that first half (1H) 2024 net income soared 566% year-on-year, to COP$6.8 trillion (US$1.7 billion) — once including a one-time COP$2.6 trillion (US$648 million) gain from sale of its former shareholdings in Grupo Nutresa. Earnings before interest, taxes,

Business Companies

Sura 2Q 2024 Net Income Jumps 525% Year-on-Year

Medellin Herald August 15, 2024

Medellin-based multinational insurance and financial manager Grupo Sura announced August 14 a 525% year-on-year jump in second quarter (2Q) net income, hitting COP$5.1 trillion (US$1.27 billion), from COP$851 billion (US$212 million) in 2Q 2023. The huge jump is mainly explained by a one-time gain from the sale of its former stockholdings in Grupo Nutresa. If […]

Business Companies

Isagen 2Q 2024 Net Income Plunges 81% Year-on-Year

Medellin Herald August 14, 2024

Medellin-based renewable-power generation giant Isagen announced August 14 that its second quarter (2Q) 2024 net income fell 81% year-on-year, to COP$57 billion (US$14 million), from COP$302 billion (US$75 million) in 2Q 2023. Revenues also dipped 4% year-on-year, to COP$1.23 trillion (US$306 million), while earnings before interest, taxes, depreciation and amortization

Business Companies

Odinsa 2Q 2024 Net Income Plummets 82% Year-on-Year

Medellin Herald August 14, 2024

Medellin-based airports and highways concessionaire Odinsa announced August 12 an 82% plunge in second quarter (2Q) 2024 net income, to COP$45.6 billion (US$11.3 million), from COP$261 billion (US$65 million) in 2Q 2023. Despite the profits dip, revenues actually rose 20% year-on-year, to COP$96 billion (US$24 million). On the other hand, 2Q 2024 earnings before interest,

Business Companies

Conconcreto Posts 2Q 2024 Net Profit, Reversing Net Loss in 2Q 2023

Medellin Herald August 14, 2024

Medellín-based multinational construction giant Conconcreto announced August 13 a second quarter (2Q) 2024 net profit of COP$20 billion (US$4.9 million) — a sharp improvement over the COP$1.5 billion (US$373,000) net loss in 2Q 2023. Revenues also improved 1.4% year-on-year, to COP$272 billion (US$67.7 million), from COP$268 billion (US$66.7 million) in 2Q 2023. The

Business Companies

EPM First-Half (1H) 2024 Net Income Rises 6% Year-on-Year

Medellin Herald August 14, 2024

Medellin-based multinational electric-power producer and public utilities giant Grupo EPM announced August 13 a 6% year-on-year hike in first-half (1H) 2024 net income, to COP$2.9 trillion (US$720 million). Revenues likewise rose 9% year-on-year, to COP$20 trillion (US$4.9 billion), while earnnings before interest, taxes, depreciation and amortization (EBITDA) rose 11%

Business Companies

Mineros 2Q 2024 Net Income falls 27% Year-on-Year

Medellin Herald August 14, 2024

Medellin-based multinational gold miner Mineros SA announced today (August 14) a 27% year-on-year drop in second quarter (2Q) 2024 net income, to COP$70 billion (US$17.4 million), from COP$96 billion (US$24 million) in 2Q 2023. Revenues rose just 1% year-on-year, to COP$523 billion (US$130 million), while gold production dipped 6%, to 53,703 ounces. Cash costs of […]

Business Companies

Aris Mining 2Q 2024 Net Income Falls 42% Year-on-Year

Medellin Herald August 14, 2024

Vancouver, Canada-based Aris Mining – operator of the giant, world-class gold mine at Segovia, Antioquia, near Medellin – announced August 13 that its second quarter (2Q) net income plummeted 42% year-on-year, to US$5.7 million, from US$9.5 million in 2Q 2023. Despite the profits dip, earnings before interest, taxes, depreciation and amortization (EBITDA) neverheless rose