Companies

ISA 1Q 2018 Net Income Jumps 24% Year-on-Year

Medellin Herald May 9, 2018

Medellin-based international electric-power transmitter and highway concessionaire ISA announced May 9 that its first quarter (1Q) 2018 net income rose 24% year-on-year, to COP$297 billion (US$103 million). Gross revenues climbed 3.6% year-on-year, to COP$1.6 trillion (US$558 million), while

Companies

Fabricato Posts 1Q 2018 Net Loss, But Sees Improvements Coming

Medellin Herald May 7, 2018

Medellin-based textile giant Fabricato announced May 1 that it posted a COP$11.6 billion (US$4.1 million) net loss for first quarter (1Q) 2018, 13% worse than the COP$10 billion (US$3.5 million) net loss in 1Q 2017. Sales also dipped 13.6% year-on-year, while earnings before interest, taxes, depreciation and amortization (EBITDA) dropped 45% year-on-year, to COP$1.8

Colombian economy

IMF Sees 2.7% GDP Growth in Colombia This Year

Medellin Herald April 30, 2018

The International Monetary Fund (IMF) on April 30 announced that it foresees 2.7% growth in Colombia’s gross domestic product (GDP) this year. In its latest annual “executive board” report (see: http://www.imf.org/en/News/Articles/2018/04/30/pr18154-imf-executive-board-concludes-2018-article-iv-consultation-with-colombia?cid=em-COM-123-36986), IMF found that during

Companies

Nutresa 1Q 2018 Profits Dip Year-on-Year, but Sales Rise

Medellin Herald April 27, 2018

Medellin-based multinational foods giant Grupo Nutresa announced April 27 that its first quarter (1Q) 2018 net profits fell 13.1% year-on-year, to COP$121 billion (US$43 million). The profit dip “is mainly explained by not accounting a portion of the dividends from our investment portfolio during the period, COP$26 billion [US$9.3 million], which will be registered during

Colombian economy

Energy Demand in Colombia, Antioquia Rising Year-on-Year

Medellin Herald April 18, 2018

Medellin-based national electric-power grid operator and power-trading center XM announced April 17 that power demand in Colombia is up 3% year-on-year through first-quarter (1Q) 2018, compared to a 1.8% net year-on-year decline in 1Q 2017. Over the last 12 months through March 2018, Colombian power demand is up 2.5%, whereas power demand actually fell 1.5% […]

Companies

Gran Colombia Gold 2017 Profits Rise, Red Eagle Mining Expands

Medellin Herald April 2, 2018

Canada-based multinationals Gran Colombia Gold (GCC) and Red Eagle Mining (REM) in late March both reported progress in their gold mining operations here in Antioquia during 2017. For GCC, adjusted net income for fourth quarter (4Q) 2017 nearly tripled, to US$9.1 million, from US$3.4 million in 4Q 2016. Similarly, for full-year 2017, GCC’s adjusted net […]

Companies

Familia 2017 Net Income Doubles Year-on-Year; Expansions Continue

Medellin Herald March 25, 2018

Medellin-based multinational personal-hygiene products manufacturer Grupo Familia announced March 23 that its full-year 2017 consolidated net income more than doubled year-on-year, to COP$231 billion (US$81 million). Operating income also rose 75% year-on-year, to COP$343 billion (US$120 million), according to the company. Gross income rose slightly (just under 2%)

Companies

Fabricato, Coltejer 2017 Net Losses Worsen Year-on-Year; Rebound Seen in 2018

Medellin Herald March 22, 2018

Medellin-based textile manufacturer Fabricato announced March 21 its that full-year 2017 net loss grew to COP$6.4 billion (US$2.2 million), down from a COP$845 million (US$295,000) net loss in 2016. Earnings before interest, taxes, depreciation and amortization (EBITDA) fell to a negative COP$3.2 billion (US$1.1 million) , down from a positive COP$26.9 billion (US$9.4

Companies

Medellin’s ‘Ruta N’ Hails Konecta’s High-Tech Expansion Here

Medellin Herald March 22, 2018

Medellin’s “Ruta N” technology-company hosting center announced March 22 that Madrid-based Konecta now has 100 engineers working here — and exporting services to nine countries including Spain, Portugal, United Kingdom, Morroco, Argentina, Chile, México, Perú and Brazil. Konecta offers business process outsourcing (BPO, software development and a contact center for

Companies

EPM 2017 Net Profit Jumps 19% Year-on-Year

Medellin Herald March 21, 2018

Medellin-based multinational utilities giant EPM announced March 20 that full-year 2017 net profits rose 19% year-on-year, to COP$2.2 trillion (US$772 million). As a result, the city of Medellin – EPM’s sole owner — netted COP$1.2 trillion (US$421 million) in profit-sharing, accounting for roughly 20% of the city’s total finances. EPM also invested COP$2.5 trillion