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

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

Companies

Mineros SA 2Q 2019 Net Income Drops 41% Year-on-Year

Medellin Herald August 16, 2019

Medellin-based socially responsible gold miner Mineros SA announced that its second quarter (2Q) 2019 net income fell 41% year-on-year, to COP$11 billion (US$3.2 million). “The decrease in net income is mainly explained by an increase in financial expenses — close to COP$6.6 billion (US$1.9 million), derived from the acquisition of Gualcamayo [mining in Argentina],

Companies

Constructora Conconcreto 2Q 2019 Earnings Jump 70%

Medellin Herald August 15, 2019

Medellin-based construction giant Constructora Conconcreto announced August 9 that its second quarter (2Q) 2019 earnings jumped 70% year-on-year, to COP$57 billion (US$16.8 million). Earnings before interest, taxes, depreciation and amortization came-in at COP$105 billion (US$31 million), essentially flat year-on-year, while EBITDA margin was 25%. Consolidated revenues hit

Companies

Exito Posts 2Q 2019 Net Loss

Medellin Herald August 15, 2019

Medellin-based multinational retail giant Grupo Exito on August 14 reported a COP$18 billion (US$5.2 million) net loss for second quarter (2Q) 2019, down from a COP$114 billion (US$33million) net profit in 2Q 2018. Recurring earnings before interest, taxes, depreciation and amortization (EBITDA) were flat year-on-year, at COP$868 billion (US$252 million). Meanwhile,

Companies

Gran Colombia Gold 2Q 2019 Net Income Improves Year-on-Year

Medellin Herald August 15, 2019

Toronto, Canada-based Gran Colombia Gold (GCC) – operator of Colombia’s largest underground gold-mine in Antioquia – on August 14 reported second quarter (2Q) 2019 adjusted net income of US$14 million, up from US$8.2 million in 2Q 2018. Meanwhile, for the first half (1H) 2019, adjusted net income rose to US$27 million, up from US$18.1 million […]

Companies

EPM First-Half 2019 Net Income Jumps 29% Year-on-Year

Medellin Herald August 14, 2019

Medellin-based multinational electric power and public utilities giant EPM announced August 14 that its first half (1H) 2019 net income rose by 29% year-on-year, to COP$1.3 trillion (US$377 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 16%, to COP$2.9 trillion (US$841 million), while gross revenues increased by 12%, to COP$8.8