Companies

Celsia 2Q 2019 Profits Fall Due to Tolima Power Acquisition Costs

Medellin Herald August 9, 2019

Medellin-based electric power giant Celsia reported August 8 that its second quarter (2Q) net income fell 56% year-on-year, to COP$43 billion (US$12.6 million), mainly because of financing costs for its purchase of Tolima departmental power company EPSA. Another COP$19 billion (US$5.6 million)

Professional services

Medellin’s ‘Portafolio Verde:’ International, Local Companies Match Mutually Beneficial Social, Environmental Projects with Local Collaborators

Medellin Herald August 6, 2019

A growing list of major local and international companies operating in and around Medellin and throughout Colombia are turning to a novel “Portafolio Verde” (“green portfolio”) consultancy here for projects that are both “green” environmentally as well as financially. “Portafolio Verde” finds, designs and jump-starts innovative, sustainable environmental and social

Companies

ISA 2Q 2019 Net Income Jumps 89% Year-on-Year

Medellin Herald August 6, 2019

Medellin-based multinational electric-power transmission builder/operator and highway concessions giant ISA announced August 6 that its second quarter (2Q) net income soared 89% year-on-year, to COP$439 billion (US$128 million). “This variation was due to higher revenues from the entry into operation of new projects, the incorporation of the 50% of IESUL [a Brazilian

Companies

Bancolombia 2Q 2019 Net Income Rises 58% Year-on-Year

Medellin Herald August 6, 2019

Medellin-based multinational banking giant Bancolombia announced August 5 that its second quarter (2Q) 2019 net income rose 58% year-on-year, to COP$936 billion (US$273 million). Net interest income totaled COP$2.9 trillion (US$845 million) in 2Q 2019, up 13.5% from 2Q 2018, due to “higher volume in the loan portfolio, as well as a slight increase in […]

Companies

Fabricato 2Q 2019 Net Loss Worsens; Joins Coltejer in Textile Market ‘Diagnosis’

Medellin Herald August 2, 2019

Medellin-based textile giant Fabricato announced August 1 that its second quarter (2Q) 2019 net loss hit COP$12.7 billion (US$3.8 million), 70% worse than the COP$7.4 billion (US$2.2 million) net loss in 2Q 2018. On a parallel front, Fabricato and its manufacturing neighbor – Medellin-based textile giant Coltejer — simultaneously announced that they’re cooperating on

Companies

FedEx Expands Air Freight Service to Medellin, Bogota

Medellin Herald August 1, 2019

U.S.-based global air freight giant FedEx announced July 31 the launch of six flights weekly between Miami, Medellin and Bogota. The new service aims to grab a share of the six million pounds of perishables shipped via air-freight every day from Colombia to Miami, including flowers, fish, fruits, vegetables and coffee, according to the company. […]

Companies

Nutresa First-Half 2019 Profits Rise 14.6% Year-on-Year

Medellin Herald July 31, 2019

Medellin-based multinational foods giant Nutresa announced July 26 that its first half (1H) 2019 net income rose 14.6% year-on-year, to COP$2.5 trillion (US$759 million). Consolidated sales also rose by 7.4% year-on-year, according to the company. “Colombia [revenues] continue with a positive performance, at COP$2.9 trillion [US$880 million], representing 62.7% of total

Colombian economy

Colombia Inks Deals to Boost Banana, Avocado, Coffee, Meat Exports to China

Medellin Herald July 31, 2019

Colombia President Ivan Duque announced July 31 on his state visit to China that Chinese President Xi Jinping signed protocol deals that eventually will boost exports of Colombian bananas, avocados, coffee, meats and shellfish to China. Initial deals enable export of 4 million boxes of bananas (mainly produced in Antioquia) and 960 tons of Haas […]

Companies

Cemex LatAm Posts 2Q 2019 Net Loss, but Colombia Sales Rise Year-on-Year

Medellin Herald July 26, 2019

Colombia-based Cemex LatAm – producer and marketer of cement and concrete in Colombia, Panamá, Costa Rica, Nicaragua, El Salvador and Guatemala – on July 25 posted a second quarter (2Q) 2019 net loss of US$4 million, down from a US$4 million net profit in 2Q 2018. However, consolidated volumes of gray cement reached 1.5 million […]

Companies

EPM Expanding ‘Green’ Power; Hidroituango Dam Complete; Finances Improve

Medellin Herald July 18, 2019

Medellin-based multinational electric power giant EPM announced July 18 that its 2.4-gigawatt (GW) “Hidroituango” hydroelectric power project in Antioquia has reached a crucial milestone: Completion of the 434.6-meters-high (above sea-level) dam. Still remaining: installation of turbines and power-control works in the mechanical room, damaged last year by diverting Cauca