Companies

EPM Taps IDB, International Banks for US$1 Billion ‘Hidroituango’ Finance

Medellin Herald December 31, 2017

Medellin-based multinational power giant EPM announced December 29 that it won a US$1 billion credit from the Interamerican Development Bank (IDB) “Invest” funding subsidiary for debt finance of its 2.4-gigawatt, US$5 billion “Hidroituango” hydroelectric project in Antioquia. The credit package

Colombian economy

Mining, Energy Still Crucial to Fix Colombia’s Weak Finances: Fedesarollo

Medellin Herald December 13, 2017

Colombia’s top economic think-tank — Fundación para la Educación Superior y el Desarrollo (Fedesarollo) — on December 13 unveiled a report which finds that mining and energy projects will continue to be crucial to restoration of slumping national government finances. Antioquia is Colombia’s biggest gold-mining department — and hence figures into the

Companies

Fabricato Moving Rionegro Plant to Bello; Notes Anti-Dumping Decision

Medellin Herald December 3, 2017

Medellin-based textile giant Fabricato SA announced November 28 that it has begun the process of moving the entire operations of its “Riotex” factory in Rionegro to its Bello factory – both of which are nearby Medellin. Transfer of dry production units will be completed by January 2018, while the wet production units will move to […]

Companies

EPM’s Nine-Months 2017 Profits Soar 25% Year-on-Year

Medellin Herald December 3, 2017

Medellin-based multinational utilities giant EPM reported November 28 that its net profits for the first nine months of 2017 hit COP$1.6 trillion (US$534 million), up 25% year-on-year, while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 22%, to COP$3.9 trillion (US$1.3 billion). So far this year, the city of Medellin – EPM’s sole owner […]

Companies

Antioquia Gold Mining Projects Bloom, but Environmental, Social Issues Remain: Special Report

Medellin Herald November 22, 2017

For more than 150 years, Antioquia has been Colombia’s biggest gold producer — and in-development projects are likely to keep it that way. However, the 320 delegates to the second annual Colombia Gold Symposium (CGS) here in Medellin November 14-15 also heard warnings on real and potential threats to growth — with environmental issues potentially […]

Companies

Medellin-Based Architectural-Engineering Giant AIA Files for Bankruptcy

Medellin Herald November 20, 2017

Colombia’s corporate oversight agency (Superintendencia de Sociedades) announced November 17 that Medellin-based architectural engineering giant Arquitectos e Ingenieros Asociados (AIA) filed for bankruptcy reorganization because of likely delays in paying creditors next year. According to the Superintendencia, AIA reported revenues of COP$179 billion (US$59.6 million) at

Companies

Grupo Familia 3Q 2017 Profits Dip Year-on-Year

Medellin Herald November 17, 2017

Medellin-based multinational personal-hygiene products maker Grupo Familia announced November 15 that its third quarter (3Q) 2017 net profit dipped to COP$44 billion (US$14.6 million), down from CP$51 billion (US$16.9 million) in 3Q 2017. However, for the first nine months of 2017, Familia’s net profit has more than tripled, to COP$159 billion (US$52.8 million), compared

Companies

Grupo Argos 3Q 2017 Net Profit Grows 38%

Medellin Herald November 16, 2017

Medellin-based construction, electric power and cement giant Grupo Argos announced November 14 that its third quarter (3Q) 2017 consolidated net profit grew 38% year-on-year, to COP$452 billion (US$150 million). Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) for 3Q 2017 rose 28% year-on-year, to COP$1.2 trillion (US$398 million).

Companies

Construcciones El Condor Sees 3Q 2017 Profits Soar, but Conconcreto Net Falls

Medellin Herald November 16, 2017

Medellin-based construction giant Construcciones El Condor reported November 14 that its third quarter (3Q) 2017 net income nearly doubled year-on-year, to COP$15 billion (US$4.9 million), from COP$8 billion (US$2.6 million) in 3Q 2016. Operating income also jumped in the latest quarter, to COP$262 billion (US$87 million), from COP$163 billion (US$54 million) in 3Q 2016.

Companies

Exito 3Q 2017 Net Loss Improves Year-on-Year

Medellin Herald November 16, 2017

Medellin-based multinational supermarket giant Grupo Exito reported November 14 that its net loss for third quarter (3Q) 2017 came in at COP$31 billion (US$10 million), a big improvement over the 3Q 2016 net loss of COP$100 billion (US$33 million). Net revenues grew 8.5% year-on-year, to COP$13.9 trillion (US$4.6 billion), while gross profit improved 5.3%, to […]