Companies

Conconcreto Full-Year 2019 Profits Dip 11% Year-on-Year

Medellin Herald March 2, 2020

Medellin-based highway, tunnel and buildings-construction giant Constructora Conconcreto on March 2 reported an 11% decline year-on-in full-year 2019 profits, to COP$64.8 billion (US$18 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) also dipped 13%, to COP$170

Companies

‘Avianca Express’ Launches in Return to Medellin’s Downtown Olaya Herrera Airport

Medellin Herald March 2, 2020

Colombia-based aviation giant Avianca announced February 13 the launch of its new “Avianca Express” division for new routes including flights from Medellin’s downtown Olaya Herrera airport (EOH). Absent from EOH for 20 years, “Avianca Express” soon will launch flights utilizing ATR-72 propeller aircraft to and from downtown Medellin — initially serving Quibdó,

Companies

Sura Full-Year 2019 Net Income Jumps 27.9% Year-on-Year; Hits All-Time Record

Medellin Herald February 28, 2020

Medellin-based multinational insurance, pensions and finance giant Grupo Sura on February 27 reported a full-year 2019 27.9% hike in net income year-on-year, to COP$1.7 trillion (US$523.8 million) – an all-time high. Revenues also rose 13.3% year-on-year, to COP$21.9 trillion (US$6.68 billion), while expenses rose less — by 12.3%. While Sura’s corporate-wide,

Companies

Construcciones El Condor Full-Year 2019 Profits Dip 37% Year-on-Year

Medellin Herald February 28, 2020

Medellin-based highway construction giant Construcciones El Condor on February 27 reported a 37% decline in full-year 2019 profits, to COP$73 billion (US$20.6 million) – principally due to a COP$74 billion (US$20.8 million) temporary write-down of its participation in the “Vías de las Américas” highway project. Full-year 2019 revenues from ordinary activities totaled

Companies

Nutresa Full-Year 2019 Profits Rise 5.2% Year-on-Year

Medellin Herald February 22, 2020

Medellin-based multinational foods manufacturer Grupo Nutresa on February 21 reported a 5.2% year-on-year net income boost for full-year 2019, to COP$513 billion (US$152 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 13.5% year-on-year, to COP$1.3 trillion (US$385 million), while sales jumped 10.5% to COP$9.9 trillion (US$2.9

Companies

Bancolombia Full-Year 2019 Net Income Rises 17% Year-on-Year

Medellin Herald February 22, 2020

Medellin-based multinational banking giant Bancolombia on February 21 reported a full-year 2019 net income of COP$3.1 trillion (US$917 million), up 17% year-on-year. However, fourth quarter (4Q) 2019 net income dropped 46% compared to third quarter (3Q) 2019, to COP$878 billion (US$260 million), according to the company. Gross loans in 4Q 2019 grew 4.9% when compared […]

Companies

Cementos Argos Full-Year 2019 Profits Fall Year-on-Year

Medellin Herald February 22, 2020

Medellin-based multinational cement/concrete producer Cementos Argos on February 21 reported US$37 million net income for full-year 2019, a 39% decline year-on year as measured in U.S. dollars. Revenues were essentially flat at US$2.85 billion in 2019 versus US$2.84 billion in 2018, while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 2.9%

Companies

Celsia Full-Year 2019 Net Income Jumps 72% Year-on-Year

Medellin Herald February 21, 2020

Medellin-based electric power giant Celsia on February 20 announced that its full-year 2019 net income rose 72% year-on-year, to COP$603 billion (US$177 million), Earnings before interest, taxes, depreciation and amortization (EBITDA) likewise rose year-on-year, to COP$1.26 trillion (US$370 million), while gross revenues increased 9%, to COP$3.7 trillion (US$1.08 billion),

Companies

Uber Relaunches App-Based Alternative Taxi Services in Colombia

Medellin Herald February 20, 2020

Uber-Colombia announced February 20 that it’s relaunching computerized application-based alternative taxi services, which had been terminated February 1 because the Colombian government ruled that Uber had failed to comply with all legal requirements for such services. According to the announcement (in Spanish, see:

Companies

EPM Board OKs Bid for ‘CaribeMar;’ Would Boost Power-Market Share to 35%

Medellin Herald February 20, 2020

Medellin-based multinational electric power giant EPM announced February 19 that its board of directors gave formal approval for the company to bid on the “CaribeMar” power company in Bolívar, Cesar, Córdoba and Sucre departments in Colombia. If EPM were to win the auction, then its national share of the Colombia power market would jump to […]