Companies

Celsia 2Q 2022 Net Income Dips 23% Year-on-Year

Medellin Herald August 6, 2022

Medellin-based electric power producer Celsia (a division of Grupo Argos) announced August 5 that its second quarter (2Q) 2022 net income fell to COP$152 billion (US$35 million), a 23% decline from the COP$198 billion (US$51 million) net in 2Q 2021. Consolidated 2Q 2022 revenues hit COP$1.21

Companies

Mineros 2Q 2022 Net Income Rises 10% Year-on-Year

Medellin Herald August 4, 2022

Medellin-based multinational gold miner Mineros SA on August 3 reported a 10% year-over-year hike in net income for second quarter (2Q) 2022. Revenue likewise rose 7% year-on-year, to US$137 million, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 12%, to US$46.7 million. Gold production also rose by 10% year-on-year, to 74,062

Companies

ISA 2Q 2022 Net Income Rises 14% Year-on-Year

Medellin Herald August 2, 2022

Medellin-based multinational electric-power transmission, highways concessionaire and telecom provider ISA announced August 1 that its second quarter (2Q) 2022 net income rose 14.4% year-on-year, to COP$670 billion (US$155.7 million). Operating income rose 10% year-on-year, to COP$1.9 trillion (US$441.7 million), while earnings before interest, taxes, depreciation and

Companies

Nutresa 2Q 2022 Net Profit Jumps 53% Year-on-Year

Medellin Herald July 31, 2022

Medellin-based multinational foods giant Grupo Nutresa announced July 29 that its second quarter (2Q) 2022 net profit rose 53% year-on-year, to COP$214 billion (US$50 million). Revenues also rose 36% year-on-year, to COP$4 trillion (US$935 million), according to the company. So far this year, first-half (1H) net income is up 38%, at COP$515 billion (US$120 million), […]

Companies

EPM First Half 2022 Net Income rose 10% Year-on-Year

Medellin Herald July 31, 2022

Medellin-based multinational utilities giant EPM announced July 29 that its first half (1H) net income rose 10% year-on-year, to COP$2.1 trillion (US$491 million), versus COP$1.9 trillion (US$483 million) in 1H 2021, even while the net margin actually dipped two percentage points. Revenues rose 28% year-on-year, to COP$15 trillion (US$3.5 billion), versus COP$11.7 trillion

Companies

Grupo Exito 2Q 2022 Net Income Rises 22.7% Year-on-Year

Medellin Herald July 28, 2022

Medellin-based multinational supermarket and dry-goods retailer Grupo Exito announced July 27 that its second quarter (2Q) 2022 net income rose 22.7% year-on-year, to COP$62.2 billion (US$14.2 million). Operating income likewise rose 27.6%, to COP$4.7 trillion (US$1.07 billion), while recurring earnings before interest, taxes, depreciation and amortization (EBITDA) rose

Companies

Cemex LatAm Reports Zero Profit for 2Q 2022

Medellin Herald July 28, 2022

Colombia-based Cemex LatAm announced July 28 that its second-quarter (2Q) 2022 operations produced zero profits, down from a modest US$16,000 net profit in 2Q 2021. Consolidated net sales rose 11% year-on-year on a comparable basis for the ongoing operations once including foreign exchange fluctuations, according to the company. “Higher cement prices and ready-mix volumes

Companies

Antioquia’s Biggest Gold Miner Becomes ‘Aris Gold’ in All-Stock Deal

Medellin Herald July 25, 2022

Toronto-based GCM Mining (formerly Gran Colombia Gold) – Antioquia’s biggest gold miner — announced July 25 that it has just completed a 100% all-stock merger deal and as a result will now be renamed Aris Gold, with headquarters moved to Vancouver, British Columbia. The GCM/Aris combination boasts of combined gold reserves of 3.8 million ounces […]

Economy & Finance

President Duque Highlights Huge Growth Opportunities in Creative-Industries Sectors at Medellin Business Forum

Medellin Herald July 22, 2022

In contrast to some wildly unsustainable economic schemes proposed by incoming Colombia President Gustavo Petro – like giving dead-end government jobs to 3 million unemployed people — outgoing President Ivan Duque on July 21 here in Medellin outlined huge potential for sustainable jobs growth and wealth creation in the creative-industries sectors, also known as the

Companies

Éxito’s Main Shareholder Unveils Huge Stock-Spinoff Plan to U.S., Brazil, Colombia Investors

Medellin Herald June 9, 2022

Medellin-based multinational supermarket and dry-goods retailer Éxito and its principal Brazilian shareholder GPA simultaneously announced September 5 that GPA soon will offer 83% of its shares in Éxito to more than 50,000 current GPA shareholders. The deal ultimately means that tens of thousands of investors in the U.S., Brazil and Colombia collectively would become