Business Companies

Grupo Excala/Compañia de Empaques 3Q 2023 Net Income Improves Year-on-Year

Medellin Herald November 16, 2023

Medellin-based multinational specialty fibers and packaging producer Grupo Excala/Compañia de Empaques announced November 14 that its third quarter (3Q) 2023 net income nearly doubled year-on-year, to COP$6.3 billion (US$1.5 million), from COP$3.35 billion (US$820,000) in 3Q 2022. Revenues also

Business Companies

Conconcreto Nine-Months 2023 Profits Drop 90% Year-on-Year

Medellin Herald November 15, 2023

Medellin-based construction giant Conconcreto on November 14 posted a consolidated net profit of COP$6.1 billion (US$1.5 million) for nine-months (January through September) 2023 — a 90% year-on-year decline. “In the current macroeconomic context characterized by inflationary uncertainty and high interest rates, the company has demonstrated its ability to

Business Companies

Sura 3Q 2023 Net Income Falls 20.6% Year-on-Year

Medellin Herald November 15, 2023

Medellin-based multinational insurance, health-care and asset-management giant Grupo Sura announced November 14 that its third quarter (3Q) 2023 net income fell 20.6% year-on-year, to COP$328 billion (US$81 million). Despite the profits dip, 3Q 2023 gross revenues actually rose 17% year-on-year, to COP$8.4 trillion (US$2.08 billion). For nine months (January through

Business Companies

Fabricato Posts Net Loss for 1st-Nine-Months of 2023

Medellin Herald November 15, 2023

Medellin-based textile/clothing giant Fabricato announced November 14 a nine-months 2023 (January through September) net loss of COP$78 billion (US$19.6 million), down sharply from a net profit of COP$8 billion (US$2 million) for the comparable first-nine-months of 2022. Revenues for nine-months 2023 also came-in sharply lower year-on-year, at COP$277 billion (US$69

Business Companies

Enka 3Q 2023 Net Income Improves Year-on-Year

Medellin Herald November 15, 2023

Medellin-based textiles and waste-plastics recycling specialist Enka announced November 14 that its third quarter (3Q) net income rose to COP$3.18 billion (US$804,000), up from a COP$2 billion (US$506,000) net loss in 3Q 2022. Earnings before interest, taxes, depreciation and amortization (EBITDA) dipped slightly year-on-year, to COP$10.28 billion (US$2.6 million) in 3Q

Business Companies

Construcciones El Condor 3Q 2023 Net Loss More-Than-Doubles Year-on-Year

Medellin Herald November 11, 2023

Medellin-based highway construction giant Construcciones El Condor announced November 10 that its third quarter (3Q) 2023 net loss topped COP$136 billion (US$33.8 million) — more-than double the 3Q 2022 net loss of COP$57 billion (US$14 million). Revenues dipped by a more-modest 2.6% year-on-year, to COP$621 billion (US$154 million), while 3Q 2023 earnings before

Business Companies

Aris Mining Posts US$12.4 Million Net Income for 3Q 2023

Medellin Herald November 10, 2023

Vancouver, British Columbia-based Aris Mining – which bought the former GCM/Gran Colombia Gold assets here in Antioquia last year – on November 8 posted a US$12.4 million profit for third quarter (3Q) 2023, a sharp reversal from the 3Q 2022 net loss of US$48.3 million. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for […]

Business Companies

Mineros SA Posts Net Loss for 3Q 2023 on Argentina Mine Sale/Write-Off

Medellin Herald November 10, 2023

Medellin-based multinational gold miner Mineros SA on November 10 posted a third quarter (3Q) 2023 net loss of US$32.5 million — a sharp reversal from the US$2.6 million net profit in 3Q 2022. “The loss from discontinued operations reflects the value of the loss on the sale of the Gualcamayo property in Argentina (-US$33.5 million), […]

Business Companies

Isagen 3Q 2023 Profits Drop 49% Year-on-Year

Medellin Herald November 10, 2023

Medellin-based electric power generator Isagen announced November 9 that its third quarter (3Q) 2023 net income fell 49% year-on-year, to COP$157.7 billion (US$39 million), partly because of soaring financial costs. The company saw its financial expenses jump 33% year-on-year, “mainly due to the increase in the level of debt and the increase in interest rates,” […]

Business Companies

Grupo Argos 3Q 2023 Net Profit Up 13% Year-on-Year

Medellin Herald November 10, 2023

Medellin-based Grupo Argos – parent of cement/concrete giant Cementos Argos, power producer Celsia and airports/highways concessionaire Odinsa – on November 9 reported that third quarter (3Q) net income rose 13% year-on-year, to COP$367 billion (US$90.7 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 1%, to COP$1.28 trillion (US$316