Economy & Finance

Nutresa 2018 results February 2019

Medellin Herald July 11, 2019

Nutresa Full-Year 2018 Net Profits Jump 20% Year-on-Year Medellin-based multinational processed foods giant Nutresa announced February 22, 2019 that its full-year 2018 net income rose 20% year-on-year, to COP$508 billion (US$155 million). Earnings before interest, taxes, depreciation and

Companies

Celsia 2018 results February 2019

Medellin Herald July 11, 2019

Medellin-based electric power producer Celsia announced February 19, 2019 that its full-year 2018 net income rose 39.7% year-on-year, to COP$350.7 billion (US$112.6 million), from COP$251 billion (US$80 million) in 2017. Fourth-quarter (4Q) 2018 net income also rose year-on-year, hitting COP$108 billion (US$34.7 million), up from COP$71 billion (US$22.8 million) in 4Q

Companies

Cemex Latam 4Q 2018 results February 2019

Medellin Herald July 11, 2019

Cemex LatAm 4Q 2018 Net Profits Slip, Colombia Sales Dip Bogota-based cement/concrete manufacturing giant Cemex LatAm Holdings announced February 7, 2019 that its fourth-quarter (4Q) 2018 region-wide net profits fell 33% year-on-year, to US$10 million, from US$33 million in 4Q 2017. But full-year 2018 profits improved 36% year-on-year, to US$63 million, from US$46 million

Companies

Construcciones El Condor Full-Year 2018 Net Income Feb 2019

Medellin Herald July 11, 2019

Construcciones El Condor Full-Year 2018 Net Income Dips Year-on-Year, but 4Q Profits Soar Medellin-based highway construction specialist Construcciones El Condor announced February 28, 2019 that its full-year 2018 consolidated net income hit COP$112.6 billion (US$36 million), down from COP$183 billion (US$59 million) but explained by a non-recurring sales gain in 2017.

Companies

Grupo Argos 2018 results February 2019

Medellin Herald July 11, 2019

Grupo Argos Full-Year 2018 Profits Jump 32% Year-on-Year Medellin-based cement, electric power and airport/highway concessionaire Grupo Argos announced February 23, 2019 that its full-year 2018 net income jumped 32% year-on-year, to COP$1.2 trillion (US$386 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) hit a record COP$4 trillion

Companies

Medellin’s ‘Emvarias’ Sanitation-Unit EBITDA Improves April 2019

Medellin Herald July 11, 2019

Emvarias – the sanitation-department subsidiary of Medellin-based utilities giant EPM – on April 3, 2019 announced that full-year 2018 earnings before interest, taxes, depreciation and amortization (EBITDA) rose 61% year-on-year, to COP$40 billion (US$12.7 million). However, net income fell 41% year-on-year, to COP$4.49 billion (US$1.4 million), as interest income from its

Companies

PharmaCielo Full-Year 2018 Net Loss Grows; Commercial Sales to Begin 3Q 2019

Medellin Herald July 11, 2019

Canada-based medical-marijuana developer PharmaCielo – whose research and operating-group headquarters are in Rionegro, Antioquia – announced April 18, 2019 a full-year 2018 net loss of US$24.4 million, worse than the US$7.6 million net loss in 2017. “This net loss was primarily due to share-based payments of US$14.4 million,” according to the company. “These share-based

Companies

AeroMexico, Interjet Expand Medellin-Mexico, U.S.-Connecting Flight Options

Medellin Herald July 11, 2019

AeroMexico and Interjet – both based in Mexico City – simultaneously announced May 9, 2019 the expansion of nonstop flights between Medellin and Mexico, with onward connections. AeroMexico has been offering twice-weekly nonstop service to/from Medellin and Cancun since last November 17 — and just decided to continue those flights beyond its earlier, original plan

Companies

Orbis Pintuco 2018 results February 2019

Medellin Herald July 11, 2019

Orbis Posts US$1 Million Net Loss for Full-Year 2018 Medellin-based multinational paints and building-supplies manufacturer Grupo Orbis revealed February 14, 2019 in a filing with Colomba’s Superfinanciera corporate oversight agency that it posted a COP$3.2 billion (US$1 million) net loss for full-year 2018, compared to a COP$40.7 billion (US$12.9 million) net profit in

Companies

Coltejer, Fabricato Post Net Losses for Full-Year 2018 March 2019

Medellin Herald July 11, 2019

Coltejer, Fabricato Post Net Losses for Full-Year 2018:Textile Contraband Boss Arrested Medellin-based textile giant Coltejer revealed in a March 5, 2019 filing with Colombia’s Superfinanciera oversight agency that it suffered a COP$29 billion (US$9.3 million) net loss for full-year 2018, 17% worse than the COP$24.7 billion (US$7.9 million) net loss in 2017. Sales also