Companies

Sweden-Based Essity Buys 94% of Medellin’s Grupo Familia in Personal-Hygiene-Market Deal

Medellin Herald April 23, 2021

Sweden-based multinational personal-hygiene-products giant Essity announced last night (April 22) that it just paid US$1.54 billion to boost its shareholding in Medellin-based counterpart Grupo Familia to “at least 94%,” up from 50% previously. According to company CEO Magnus Groth, “Essity has

Companies

Hidroituango Project Threatened by New Comptroller Embargoes

Medellin Herald April 21, 2021

EPM’s problem-plagued, US$5 billion “Hidroituango” hydroelectric project is facing yet another threat from a new assets-embargo order brought by Colombia’s Comptroller-General against one or possibly all of the Hidroituango construction contractors. In an April 21 press conference, EPM general manager Jorge Andrés Carrillo Cardoso cautioned that the full, immediate impact

Companies

EPM 1Q 2021 Net Income Rises 31% Year-on-Year

Medellin Herald April 21, 2021

Medellin-based multinational electric power and utilties giant EPM announced April 27 that its first quarter (1Q) 2021 net income jumped 31% year-on-year, to COP$856 billion (US$230 million). Revenues rose 18% year-on-year, to COP$5.6 trillion (US$1.5 billion), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 12%, to COP$1.7 trillion

Companies

Valores Industriales 2020 Net Income Soars Over 2019

Medellin Herald April 1, 2021

Medellin-based real-estate developer and timber producer Valores Industriales announced March 31 that its full-year 2020 net income soared to COP$14.7 billion (US$4 million), up from a COP$102 billion (US$27.8 million) net loss in 2019. Revenues also rose, to COP$26.5 billion (US$7.2 million), from COP$18 billion (US$4.9 million) in 2019. Valores Industriales (VI) —

Companies

Gran Colombia Gold 2020 Adjusted Net Income Rises 21% Year-on-Year

Medellin Herald April 1, 2021

Toronto-based Gran Colombia Gold (GCG) – Colombia’s biggest gold miner, mainly in Antioquia – on March 31 reported a 21% jump in 2020 adjusted net income, to US$75.9 milllion, from US$60.5 million in 2019. “The year-over-year improvement in adjusted net income in 2020 largely reflects the positive impact of higher gold prices in 2020, partially […]

Companies

Valores Industriales 2020 Net Income Soars Over 2019

Medellin Herald April 1, 2021

Medellin-based real-estate developer and timber producer Valores Industriales announced March 31 that its full-year 2020 net income soared to COP$14.7 billion (US$4 million), up from a COP$102 billion (US$27.8 million) net loss in 2019. Revenues also rose, to COP$26.5 billion (US$7.2 million), from COP$18 billion (US$4.9 million) in 2019. Valores Industriales (VI) —

Companies

Fabricato Posts COP$82 Billion Net Loss for Full Year 2020

Medellin Herald March 31, 2021

Medellin-based textile giant Fabricato on March 30 posted a COP$82 billion (US$22 million) net loss for full year 2020, worse than the COP$17 billion (US$4.6 million) net loss in 2019. Sales revenues fell 21% year-on-year, to COP$272 billion (US$74 million). However, thanks to cost reductions, 2020 earnings before interest, taxes, depreciation and amortization (EBITDA)

Companies

Grupo Orbis Full-Year 2020 Profits Improve over 2019

Medellin Herald March 29, 2021

Medellin-based Grupo Orbis – manufacturer of “Pintuco” paints, “Andercol” packaging products, “O-Tek” water-handling systems and distributor of “Mundial” hardware products – announced March 25 that its full-year 2020 profits rose 15% year-on-year, to COP$55.7 billion (US$15 million). Gross income dipped slightly year-on-year, to COP$491 billion (US$133 million), according

Companies

Isagen Full-Year 2020 Net Income Matches 2019 Results

Medellin Herald March 29, 2021

Medellin-based electric power producer Isagen announced March 25 that its full-year 2020 net income hit COP$496 billion (US$134 million), almost even with the COP$495 billion (US$133.5 million) profit in 2019. Gross income rose less-than-1% year-on-year, to COP$3.2 trillion (US$863 million), while earnings before interest, taxes, depreciation and amortization (EBITDA)

Companies

UNE-EPM Posts Net Loss for Full-Year 2020 on Covid-19 Problems

Medellin Herald March 29, 2021

Medellin-based telecom, internet and cable-TV giant UNE-EPM revealed a COP$25 billion (US$6.7 million) net loss for full-year 2020, down from a COP$61 million (US$16,500) net profit in 2019. Revenues also dipped slightly, to COP$4.84 trillion (US$1.3 trillion), from COP$4.9 trillion (US$1.32 billion) in 2019, as the Covid-19 pandemic generated bad debts. Earnings before