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

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

Companies

Gran Colombia Gold 2018 results March 2019

Medellin Herald July 13, 2019

Gran Colombia Gold, Continental Gold Post Net Losses for Full-Year 2018 Toronto-based Gran Colombia Gold (GCC) on March 27, 2019 posted a US$3.4 million net loss for full year 2018, down from a US$36.8 million profit in 2017. “The net loss in 2018 includes $28.4 million of losses on financial instruments, primarily triggered by the […]

Economy & Finance

Colombia’s GDP Grew 2.7% in 201 February 2019

Medellin Herald July 11, 2019

Colombia’s national economics statistics agency (DANE, Departamento Administrativo Nacional de Estadistica) on February 28 revealed that its latest studies indicate national gross domestic product (“PIB” in Spanish initials) hit 2.7% for full-year 2018, up from a feeble 1.4% in 2017. Meanwhile, Fedesarollo – Colombia’s leading economic think-tank – now foresees a

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 amortization (EBITDA) climbed 7% year-on-year, hitting COP$1.1 trillion (US$336

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.