May 20, 2024
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Business Companies

Isagen 1Q 2024 Net Income Drops 50% Year-on-Year

Medellin Herald
Medellin-based 100% renewable-power giant Isagen announced May 15 that its first quarter (1Q) net income plunged 50% year-on-year, to COP$198 billion (US$51.7 million), from COP$397 billion (US$103.7 million) in 1Q 2023. Operating income also dipped slightly (0.5%) year-on-year, to COP$1.34 trillion (US$350 million), while earnings before interest, taxes, depreciation and
Business Companies

UNE-EPM (Tigo) Posts Net Loss for 1Q 2024

Medellin Herald
Medellin-based UNE-EPM – the internet/cell-phone/cable-TV joint venture with Spain-based Millicom (Tigo) – announced May 15 a first quarter (1Q) 2024 net loss of COP$95 billion (US$24.8 million). That loss was however a 35% year-on-year reduction from the COP$148 billion (US$38.6 million) net loss in 1Q 2023, according to the company. Gross revenues for 1Q 2024 […]
Business Companies

Grupo IMSA 1Q 2024 Profits Soar 409% Year-on-Year

Medellin Herald
Medellin-based multinational diversified manufacturer Grupo IMSA announced May 14 a 409% year-on-year hike in first quarter (1Q) profits, hitting COP$90.6 billion (US$23.6 million). “The increase in net profit is explained by the better operating results of our companies and the receipt of an additional payment derived from the sale agreement of O-tek Internacional to WIG
Business Companies

Enka 1Q 2024 Profits Dip Year-on-Year

Medellin Herald
Medellin-based textiles and plastics-recycling giant Enka announced May 14 that its first quarter (1Q) 2024 net income fell 22% year-on-year, to COP$3.56 billion (US$929,000), from COP$4.6 billion (US$1.2 million) in 1Q 2023. Revenues also fell 14% year-on-year, to COP$125 billion (US$32.6 million), but earnings before interest, taxes, depreciation and amortization
Business Companies

Odinsa 1Q 2024 Net Income Dips 5% Year-on-Year

Medellin Herald
Medellin-based highways/airport concessionaire Odinsa – a concessions division of Grupo Argos and in a “strategic alliance” with Australia-based global infrastructure giant Macquarie Infrastructure and Real Assets (MIRA) — announced May 13 a first quarter (1Q) 2024 net profit of COP$10.4 billion (US$2.7 million), a 5% decline from COP$10.95 billion (US$2.8 million)

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