October 27, 2025
Home Archive by category Business (Page 11)
Business Companies

Start-Up Solar-Photovoltaic Energy Company Targets ‘Greener’ Growth

Medellin Herald
Medellin’s up-and-coming “Oriente” suburbs not only host the JMC International Airport and burgeoning residential/commercial developments, but also some unusually innovative companies — including a far-sighted solar photovoltaic (PV) start-up by the name of “50/50 Group.” Initially created in 2021 by (now-retired) former Shell Manager Claudia Zuluaga as a “green”
Business Companies

Grupo Excala Post 1Q 2024 Net Loss

Medellin Herald
Medellin-based multinational specialty-fibers and packaging producer Grupo Excala/Compañia de Empaques announced May 14 a net loss of COP$918 million (US$240,000) for first quarter (1Q) 2024. The loss was blamed on a COP$9.08 billion (US$2.37 million) deterioration in the value of Excala’s investment in agroindustrial production of fique fiber. Excala meanwhile reported a
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

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