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

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

Companies

Cemex LatAm 3Q 2021 Net Loss Improves Year-on-Year

Medellin Herald October 28, 2021

Colombia-based Cemex LatAm Holdings – producer of cement, concrete and aggregates in six Latin American nations – on October 27 reported a third quarter (3Q) 2021 net loss of US$10.6 million, a big improvement over the US$110 million net loss in 3Q 2020. Corporate-wide operating earnings before interest, taxes, depreciation and amortization (EBITDA) rose to […]

Colombian economy

Colombia GDP Growth Approaching 9%, Industrial Confidence Hits Record, Covid-19 Threat Plummeting

Medellin Herald October 26, 2021

Colombia’s projected GDP (“PIB” in Spanish initials) for full-year 2021 is now seen at between 8.19% and 9.5%, according to the latest forecast from Fedesarrollo, the nation’s leading economic think-tank. Meanwhile, Colombia’s industrial confidence index (“Índice de Confianza Industrial,” ICI) has just hit its highest level in 41 years, according to Fedesarrollo —

Companies

AngloGold Ashanti’s Proposed Copper Mine in Jerico, Antioquia Hits Another Regulatory Snag

Medellin Herald October 26, 2021

Colombia’s National Environmental Licensing Authority (ANLA) announced October 25 that it has decided to shelve — at least for now, pending further studies – AngloGold Ashanti’s proposed copper/gold mine in Jerico, Antioquia, even despite 75% favorability for the project among the citizens in-and-around Jerico. “With the analysis of the information on file, which was