Companies

Grupo Argos 3Q 2021 Net Profit Skyrockets Year-on-Year

Medellin Herald November 12, 2021

Medellin-based Grupo Argos – parent of Cementos Argos (cement), Celsia (electric power) and Odinsa (highway/airport concessions) – announced November 11 that its corporate-wide profits for third quarter (3Q) 2021 hit COP$375 billion (US$96 million), up from COP$78 billion (US$20 million) in 3Q

Companies

Construcciones El Condor 3Q 2021 Profits Nearly Unchanged Year-on-Year

Medellin Herald November 12, 2021

Medellin-based highway construction giant Construcciones El Condor announced November 11 that its third quarter (3Q) net income nearly matched that of 3Q 2020, at COP$16 billion (US$4.1 million). However, revenues dropped 34% year-on-year, to COP$372.7 billion (US$95.7 million), according to the company. The drop in revenues “is associated with the completion period of the

Companies

Gran Colombia Gold 3Q Net Income Rises Year-on-Year

Medellin Herald November 12, 2021

Toronto-based Gran Colombia Gold – whose principal mining operations are in Antioquia – on November 11 announced third quarter (3Q) 2021 net income rose to US$25.3 million, up from US$18 million in 3Q 2020. The profit boost came a result of lower tax expense and non-mining income, even as operating income actually fell year-on-year, according […]

Companies

Cementos Argos 3Q 2021 Profits Jump 68% Year-on-Year

Medellin Herald November 9, 2021

Medellin-based multinational cement/concrete giant Cementos Argos reported November 8 a 68% year-on-year hike in third quarter (3Q) 2021 net income, to COP$73 billion (US$18.8 million). Comparable earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 2.4%, to COP$473 billion (US$122 million), “due mainly to the good performance of Colombia in a

Companies

Celsia 3Q 2021 Profits Jump 51.8% Year-on-Year; ‘Green’ Projects Expand

Medellin Herald November 5, 2021

Medellin-based electric power giant Celsia – a division of Grupo Argos – on November 4 reported third quarter (3Q) 2021 net income of COP$105 billion (US$27 million), up 51.8% year-on-year. Revenues in 3Q 2021 climbed 19.4%, to COP$978 billion (US$252 million), while consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 23%, to COP$316

Companies

ISA 3Q 2021 Net Income Drops Sharply Year-on-Year

Medellin Herald November 4, 2021

Medellin-based multinational electric-power transmission builder-operator, highways concessionaire and telecom services provider ISA – now 51% owned by Colombia’s mostly state-owned Ecopetrol oil company – on November 3 reported third quarter (3Q) 2021 net income of COP$121 billion (US$31.5 million), down 78% from 3Q 2020. Despite the profit decline, ISA’s earnings before

Companies

Éxito 3Q 2021 Profits More-Than-Double Year-on-Year

Medellin Herald November 4, 2021

Medellin-based multinational supermarket and dry-goods retailer Grupo Éxito announced November 3 that its third quarter (3Q) 2021 net income rose 144% year-on-year, to COP$126 billion (US$32.8 million). Recurring earnings before interest, taxes, depreciation and amortization (EBITDA) rose 42%, to COP$353 billion (US$92 million), while sales rose 13.5%, to COP$3.98 trillion

Companies

Bancolombia 3Q 2021 Net Income Soars 237% Year-on-Year

Medellin Herald November 3, 2021

Medellin-based multinational banking giant Bancolombia announced November 2 that its third quarter (3Q) 2021 net income hit COP$943 billion (US$246 million), up 237% year-on-year. Loan provision charges “decreased by 17.8% when compared to 2Q 2021 and by 69.4% when compared to 3Q 2020. This reduction is largely due to a better economic outlook in 2021, […]

Companies

EPM 3Q 2021 Net Income More-Than-Doubles Year-on-Year

Medellin Herald November 3, 2021

Medellin-based utilities giant EPM announced November 2 that its third quarter (3Q) 2021 net income hit COP$2.8 trillion (US$730 million), up sharply from COP$1.3 trillion (US$337 million) in 3Q 2020. Earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 28% year-on-year, to COP$5.5 trillion (US$1.4 billion), while EBITDA margin came-in at a

Companies

Nutresa 3Q 2021 Profits Rise 14% Year-on-Year

Medellin Herald October 30, 2021

Medellin-based multinational foods giant Grupo Nutresa on October 29 reported a 17% year-on-year hike in third quarter (3Q) 2021 net profits, hitting COP$173 billion (US$46 million). Operating income rose to COP$3.36 trillion (US$893 million), up from COP$2.85 trillion (US$757 million) in 3Q 2020. Meanwhile, 3Q 2021 operating profit rose 8.4% year-on-year, to COP$867