Companies

Grupo Orbis 1Q 2022 Net Income Jumps 30% Year-on-Year

Medellin Herald May 24, 2022

Medellin-based paints, chemicals and hardware giant Grupo Orbis – which last month finally became 100% owned by Amsterdam-based Akzo Nobel – announced May 13 that its first quarter (1Q) 2022 net income rose 30%, to COP$7.6 billion (US$1.9 million). “Grupo Orbis companies start the year with

Companies

Grupo Sura 1Q 2022 Net Income Jumps 109% Year-on-Year

Medellin Herald May 14, 2022

Medellin-based multinational health, insurance and financial services giant Grupo Sura announced May 13 that its consolidated net income for first quarter (1Q) 2022 rose 109% year-on-year, to COP$442 billion (US$113 million), Consolidated revenues likewise rose 25% year-on-year, to COP$6.9 trillion (US$1.76 billion), according to the company. “This level of results was

Companies

Grupo Argos 1Q 2022 Net Income Jumps 65% Year-on-Year

Medellin Herald May 13, 2022

Medellin-based cement, electric-power, real-estate and airport/highways conglomerate Grupo Argos announced May 12 that its first quarter (1Q) 2022 net income rose 65% year-on-year, to COP$315 billion (US$77 million). Earnings before interest, taxes, depreciation and amortization (EBITDA rose 28%, to COP$1.2 trillion (US$293 million), while revenues rose 23.6%, to COP$4.6

Companies

Enka Colombia 1Q 2022 Net Income Steady Year-on-Year

Medellin Herald May 13, 2022

Medellin-based textiles and plastics-recycling specialist Enka Colombia announced today (May 13) that its first quarter (1Q) consolidated net income was essentially flat year-on-year, at COP$13.79 billion (US$3.35 million), versus COP$13.78 billion (US$3.35 million) in 1Q 2021. Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) dipped

Companies

GCM Mining (nee Gran Colombia Gold) 1Q 2022 Profits Decline Year-on-Year

Medellin Herald May 13, 2022

Toronto-based GCM Mining announced May 12 that its first quarter (1Q) 2022 adjusted net income fell to US$14.8 million, from US$21.9 million in 1Q 2021. “Net earnings in the first quarter 2021 included the benefit of a US$56.9 million gain on loss of control of Aris, a US$42.8 million gain on financial instruments and a […]

Companies

Construcciones El Condor Posts COP$9.4 Billion Net Loss for 1Q 2022

Medellin Herald May 13, 2022

Medellin-based construction giant Construcciones El Condor on May 13 posted a COP$9.4 billion (US$2.28 million) net loss for first quarter (1Q) 2022, an improvement over the COP$51 billion (US$12.4 million) net loss in 1Q 2021. Gross revenues were nearly flat year-on-year, at COP$164 billion (US$40 million) in 1Q 2022 versus COP$165 billion (US$40.1 million) in […]

Companies

Conconcreto 1Q 2022 Profits Jump 76% Year-on-Year

Medellin Herald May 13, 2022

Medellin-based construction giant Conconcreto announced May 13 that its first quarter (1Q) net income rose 76.8% year-on-year, to COP$22 billion (US$5.3 million), from COP$12.6 billion (US$3.06 million) in 1Q 2021. Gross revenues rose 70%, to COP$237 billion (US$57.6 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 31.8%, to

Companies

Bancolombia 1Q 2022 Net Income Soars 219% Year-on-Year

Medellin Herald May 12, 2022

Medellin-based multinational banking giant Bancolombia announced today (May 12) that its first quarter (1Q) 2022 net income skyrocketed 219% year-on-year, to COP$1.73 trillion (US$421 million), from COP$542 billion (US$132 million) in 1Q 2021. Interest income grew 26% year-on-year, while interest expense rose only 13.7%, thus yielding a net 31% gain. Assets likewise grew

Companies

Cementos Argos 1Q 2022 Profits Fall 60% Year-on-Year

Medellin Herald May 10, 2022

Medellin-based multinational cement/concrete giant Cementos Argos announced May 9 that its first quarter (1Q) net income dropped 60.6% year-on-year, to COP$55 billion (US$13.46 million). Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) also dipped 17.8%, to COP$437 billion (US$107 million), but gross revenues actually increased 11.2%

Companies

Mineros 1Q 2022 Profits Decline Year-on-Year

Medellin Herald May 10, 2022

Medellin-based multinational gold miner Mineros SA announced May 9 that its first quarter (1Q) profits fell to US$10.47 million, from US$13.77 million in 1Q 2021. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) also dipped to US$41 million, from US$45 million in 1Q 2021. Revenues dipped 1% year-on-year, to US$124.7 million, although the