Companies

ISA 3Q 2019 Net Income Dips 1.7% Year-on-Year

Medellin Herald November 8, 2019

Medellin-based electric power transmission, highways concessions and telecom services giant ISA announced November 6 that its third quarter (3Q) net income dipped 1.7% year-on-year, to COP$406 billion (US$122 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) for

Companies

Cartama Exports First-Ever Hass Avocado Shipments to Japan

Medellin Herald November 8, 2019

Medellin-based avocado producer/exporter Cartama announced November 7 its first-ever exports of Hass avocados from its Pereira (Risaralda department) operations to Japan. Cartama – founded in the year 2000 with its first plantations in Amagá, Antioquia – gradually has expanded Colombian operations to Caldas and Risaralda departments, including a packing plant in Pereira.

Companies

Fabricato 3Q 2019 Sales Rise Year-on-Year, but Net Loss Worsens

Medellin Herald November 1, 2019

Medellin-based textile giant Fabricato on October 31 reported a third quarter (3Q) 2019 net loss of COP$13 billion (US$3.8 million), worse than the COP$9 billion (US$2.67 million) net loss in 3Q 2018. However, earnings before interest, taxes, depreciation and amortization (EBITDA) improved year-on-year, to COP$3 billion (US$891,000), versus COP$909 million (US$270,000) in

Companies

Corona, Cementos Molins Debut US$380 Cement Plant in Antioquia

Medellin Herald October 31, 2019

Spain-based Cementos Molins and Colombia-based multinational construction-materials producer and retailer Corona announced October 30 the start-up of their US$380 million, 1.5-million-tons/year, 50-50 joint venture “Empresa Colombiana de Cementos” (Ecocementos) cement plant near Sonson, Antioquia, east of Medellin. Commenting on the start-up, Cementos Molins spokesman

Companies

Nutresa 3Q 2019 Net Profit Grows 6.9% Year-on-Year

Medellin Herald October 26, 2019

Medellin-based multinational foods giant Grupo Nutresa on October 25 reported that third quarter (3Q) 2019 net profits grew 6.9% year-on-year, to COP$412 billion (US$121 million). Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) likewise rose 18% year-on-year, to COP$992 billion (US$292 million), while margin on sales grew by 13.8%,

Companies

Cemex Colombia 3Q 2019 Cement Sales Grow, but Profits Dip

Medellin Herald October 25, 2019

Colombia-based Cemex LatAm Holdings announced October 24 that its third-quarter (3Q) 2019 sales of grey cement grew year-on-year, but profits declined. According to Cemex LatAm – which produces and markets concrete and cement in Colombia, Panama, Costa Rica, Nicaragua, El Salvador, and Guatemala – 3Q 2019 produced a corporate-wide net loss of US$4 million, compared […]

Companies

EPM Wins Hidroituango Insurance Claim Worth Trillions; Finance Outlook Dramatically Improves

Medellin Herald September 17, 2019

EPM general manager Jorge Londoño de la Cuesta revealed in a September 17 press conference here in Medellin that insurer Mapfre just issued a letter of coverage worth trillions of Colombian pesos for damages at the under-construction, US$5 billion Hidroituango hydroelectric plant in Antioquia. The exact amount of payment won’t be known for months, as […]

Professional services

Big Fleets Here Tap Eletech for ‘Mobileye,’ ‘Ituran’ Technologies to Cut Accidents, Waste, Losses

Medellin Herald September 4, 2019

Big corporate fleets in and around Medellin and across Colombia increasingly are turning to sophisticated vehicle technologies in order to avoid accidents, cut fuel costs, avoid merchandise damage, monitor driver behavior and improve routing. Among local fleets employing and/or evaluating novel “Mobileye” and “Ituran” systems are insurance giant Sura, cement maker Cemex,

Companies

Grupo Familia 1H, 2Q 2019 Profits Rise Year-on-Year

Medellin Herald August 24, 2019

Medellin-based multinational paper products and personal-hygiene specialist Grupo Familia revealed in an August 20 filing with Colombia’s Superfinanciera corporate oversight agency that its first half (1H) 2019 net income rose to COP$126 billion (US$37 million), up from COP$98 billion (US$28 million) in 1H 2018. Gross revenues also rose, to COP$1.28 trillion (US$374

Companies

Grupo Orbis 2Q 2019 Net Income Greatly Improves Year-on-Year

Medellin Herald August 16, 2019

Medellin-based multinational Grupo Orbis – which includes paint manufacturing giant Pintuco – on August 15 reported COP$6 billion (US$1.7 million) net income for second quarter (2Q) 2019, a big reversal from a COP$17 billion (US$4.9 million) net loss in 2Q 2018. Earnings before interest, taxes, depreciation and amortization (EBITDA) skyrocketed by 490% year-on-year, to