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

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

Business Companies Uncategorized

Éxito 2Q 2024 Net Loss 3-Times Worse Than 2Q 2023

Medellin Herald August 13, 2024

Medellin-based multinational supermarket giant Grupo Éxito announced August 12 a COP$18.7 billion (US$4.6 million) net loss for second quarter (2Q) 2024 — a 203% year-on-year decline from the COP$6.2 billion (US$1.5 million) net loss in 2Q 2023. Sales also dipped 1% year-on-year, to COP$4.8 trillion (US$1.18 billion), while earnings before interest, taxes,

Business Companies

Cementos Argos 2Q 2024 Net Income Dips 6.5% Year-on-Year

Medellin Herald August 10, 2024

Medellin-based multinational cement/concrete giant Cementos Argos announced August 9 a 6.5% year-on-year decline in second quarter (2Q) 2024 net income, to COP$127 billion (US$31 million), from COP$136 billion (US$33 million) in 2Q 2023. Revenue also declined 3.4% year-on-year, to COP$1.34 trillion (US$329 million), versus COP$1.39 trillion (US$341 million) in 2Q 2023. On

Business Companies

Construcciones El Condor Posts 2Q 2024 Net Loss

Medellin Herald August 10, 2024

Medellin-based highway construction giant Construcciones El Cóndor announced August 9 a net loss of COP$64.7 billion (US$15.9 million) for second quarter (2Q) 2022 — but that was a 19% year-on-year improvement over the COP$79.6 billion (US$19.5 million) net loss in 2Q 2023. Gross income also improved by 34.7% year-on-year, to COP$583 billion (US$143 million), versus

Business Companies

Bancolombia 2Q 2024 Net Income Dips 1.5% Year-on-Year

Medellin Herald August 9, 2024

Medellin-based multinational banking giant Bancolombia announced August 8 that its second quarter (2Q) 2024 net income dipped 1.5% year-on-year, to COP$1.44 trillion (US$354 million), from COP$1.46 trillion (US$359 million) in 2Q 2023. Compared to first quarter (1Q) 2024, net income fell 13.4% — mainly due to provision charges for past-due loans for comercial

Business Colombian economy

ISA 2Q 2024 Net Income Up 2% Year-on-Year

Medellin Herald August 1, 2024

Medellin-based multinational electric-power transmission, highways concessionaire and telecom giant ISA announced July 31 a 2% year-on-year gain in second quarter (2Q) 2024 net income, to COP$708 billion (US$173 million). Revenues for 2Q 2024 declined 3% year-on-year, to COP$3.4 trillion (US$832 million), while earnings before interest, taxes, depreciation and amortization

Business Colombian economy

Millicom Rejects Atlas Bid, Unveils Movistar Merger Deal, EPM Share Bid

Medellin Herald July 31, 2024

Luxembourg-based multinational telecom-internet-cable-TV giant Millicom announced today (July 31) a deal whereby Millicom and Spain-based Telefonica would merge their Colombia operations and also buy-out EPM´s 49.9% stake in Tigo-UNE. The announcement comes on the heels of Millicom´s rejection of the recent US$4.1 billion buyout offer from telecom competitor Atlas Luxco

Business Companies

Grupo Nutresa 2Q 2024 Net Income Rises 17.4% Year-on-Year

Medellin Herald July 27, 2024

Medellin-based multinational foods giant Grupo Nutresa announced July 25 that its second quarter (2Q) 2024 net income rose 17.4% year-on-year, to COP$164 billion (US$40.8 million), from COP$140.4 billion (US$34.9 million) in 2Q 2023. Gross revenues for 2Q 2024 rose 4.9% year-on-year, to COP$565 billion (US$140.6 million), according to a filing with Colombia´s