Companies

Industrias Estra Posts Net Loss for All 2020, but Second-Half Rebound Brightens Outlook

Medellin Herald March 29, 2021

Medellin-based plastics-ware manufacturer and retailer Industrias Estra on March 25 posted a full-year 2020 net loss of COP$1.4 billion (US$377,000), down from a net profit of COP$1.25 billion (US$336,000) in 2019. While the full year 2020 suffered from Covid-19 shutdowns and sales declines,

Companies

EPM Full-Year 2020 Profits Grow 19% Over 2019

Medellin Herald March 24, 2021

Medellin-based multinational utilities giant EPM announced March 23 that its full-year 2020 profits jumped 19% year-on-year, to COP$3.7 trillion (US$1.02 billion). Earnings before interest, taxes, depreciation and amortization (EBITDA) came-in at COP$5.8 trillion (US$1.6 billion) with an EBITDA margin of 29%, “slightly below the level of 2019, caused by the increase in

Companies

Compañia de Empaques Full-Year 2020 Net Income Jumps 36% Year-on-Year

Medellin Herald March 11, 2021

Medellin-based packaging manufacturer and exporter Compañia de Empaques announced March 10 that its full-year 2020 net income rose 36% year-on-year, to COP$20 billion (US$5.7 million). Gross income in 2020 also rose to COP$478 billion (US$136 million), up from COP$457 billion (US$130 million) in 2019, according to the company. Compañia de Empaques specializes in the

Companies

U.S.-Based Intertec Expands in Medellin, Bogota; Seeks 100 Bilingual IT Pros

Medellin Herald March 10, 2021

Phoenix, Arizona-based Intertec International announced March 10 that it’s expanding operations in Medellin and Bogota, seeking 100 bilingual information technology (IT) professionals for its Colombia operations over the next nine months. According to a joint announcement from Intertec and Agencia de Cooperacion e Inversion de Medellin y el Area Metropolitana (ACI,

Companies

Mercado Libre Announces New IT Center in Medellin; 500 Tech Jobs Opening

Medellin Herald March 3, 2021

Argentina-based electronic-commerce giant Mercado Libre announced March 3 that it’s opening a new information technology (IT) center in Medellin — and expects to hire 500 technical professionals here. The new center is the company’s second in Colombia, having opened its first IT center in Bogota in 2020. As a result of the Medellin expansion, “Colombia […]

Companies

ISA Full-Year 2020 Net Income Rises 46% Year-on-Year

Medellin Herald March 3, 2021

Medellin-based multinational power transmission, highways concessions and telecom services provider ISA announced March 3 that its full-year 2020 net income rose 46.7%, to COP$646 billion (US$175 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 38%, to COP$1.9 trillion (US$516 million), while operating revenues rose 23%, to COP$2.16

Companies

Conconcreto Full-Year 2020 Net Income Drops 64% Year-on-Year

Medellin Herald March 1, 2021

Medellin-based construction giant Conconcreto on March 1 reported a 64% year-on-year drop in 2020 net income, to COP$23.5 billion (US$6.5 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) declined 40%, to COP$102 billion (US$28 million), while revenues likewise declined by 39%, to COP$574 billion (US$158 million). Despite the decline in

Companies

Conconcreto Full-Year 2020 Net Income Drops 64% Year-on-Year

Medellin Herald March 1, 2021

Medellin-based construction giant Conconcreto on March 1 reported a 64% year-on-year drop in 2020 net income, to COP$23.5 billion (US$6.5 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) declined 40%, to COP$102 billion (US$28 million), while revenues likewise declined by 39%, to COP$574 billion (US$158 million). Despite the decline in

Companies

Nutresa Full-Year 2020 Net Income Rises 14% Year-on-Year

Medellin Herald February 27, 2021

Medellin-based multinational foods giant Grupo Nutresa reported February 26 that its full-year 2020 net income rose 14.3% year-on-year, to COP$575 billion (US$158 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 7.2%, to COP$1.44 trillion (US$395 million), while revenue rose 11.7%, to COP$11.1 trillion (US$3.04 billion). Sales in

Companies

Grupo Sura Full-Year 2020 Net Income Drops 80% Year-on-Year

Medellin Herald February 26, 2021

Medellin-based insurance, health care, pensions and investment giant Grupo Sura announced February 26 that its full-year 2020 net income fell 80% year-on-year, to COP$336 billion (US$91 million) as a result of the Covid-19 crisis. Operating revenues dipped 2.3% year-on-year, to COP$20.8 trillion (US$5.6 billion), while operating income fell 44%, to COP$1.6 trillion (US$435