Companies

Construcciones El Condor Sees 2Q 2017 Profits Jump Nine-Fold

Medellin Herald August 16, 2017

Medellin-based construction giant Construcciones El Condor announced August 11 that its second-quarter (2Q) 2017 net income rose nine-fold year-on-year, to COP$159 billion (US$53.6 million), while revenues jumped 55%, to COP$455 billion (US$153 million). Earnings before interest, taxes,

Companies

Exito First-Half 2017 Profits Rebound Year-on-Year

Medellin Herald August 15, 2017

Medellin-based multinational supermarket giant Exito reported August 14 that its first-half (1H) 2017 net profits rebounded to COP$61.6 billion (US$20.7 million), up from a COP$47.7 billion (US$16 million) loss in 1H 2016. Revenues also rose 12.4% year-on-year, to COP$26.8 trillion (US$9 billion), while recurring earnings before interest, taxes, depreciation and

Companies

Grupo Sura First-Half 2017 Net Profits Dip 34.6% on Peso Devaluation

Medellin Herald August 15, 2017

Medellin-based multinational insurance, pensions and investment giant Grupo Sura announced August 15 that its first-half (1H) 2017 net income dipped 34.6% year-on-year mainly because of Colombian peso devaluation against the U.S. dollar. However, revenues rose 22.4% year-on-year to COP$9.9 trillion (US$3.3 billion), while investment income jumped 61.5%, to COP$1.1 trillion

Companies

Cementos Argos First-Half 2017 EBITDA Drops 26% Year-on-Year, but 2Q Rebounds

Medellin Herald August 14, 2017

Medellin-based multinational cement giant Cementos Argos reported August 11 that its first-half (1H) 2017 earnings before interest, taxes, depreciation and amortization (EBITDA) fell 26% year-on-year, to COP$641 billion (US$216 million). Revenues dipped 4% year-on-year, to COP$4.2 trillion (US$1.4 billion), but second-quarter (2Q) net income rebounded over the first

Companies

Bancolombia 2Q 2017 Profits Rise 7% over 1Q 2017

Medellin Herald August 10, 2017

Medellin-based banking giant Bancolombia announced August 9 that its second-quarter (2Q) 2017 profits rose 7% over first-quarter 2017, to COP$654 billion (US$223 million). Meanwhile, Bancolombia’s 2Q 2017 gross portfolio grew 8.5% year-on-year, to US$52 billion, with 27% of the total corresponding to its international businesses represented in Banistmo (Panama), Banco

Companies

Fabricato 1H 2017 Sales, EBITDA Decline Year-on-Year; Net Income Rises

Medellin Herald August 10, 2017

Medellin-based textiles giant Fabricato announced August 10 that its first-half (1H) 2017 sales fell 5.6% year-on-year, to COP$90.8 billion (US$30 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) margin fell by more than half, to 2.7%. On the up-side, Fabricato recorded a COP$45 billion (US$15 million) gain on the transfer of its 70%

Companies

USAID Helping Illegal Miners to Legalize; Many Still Balk; Some Promote Violence

Medellin Herald August 9, 2017

The U.S. Agency for International Development (USAID) announced August 8 that its “Oro Legal” program has already helped 205 miners and 176 informal/illegal gold-mining families in Antioquia convert to safer, legal mining – with many more miners targeted for help by 2020. Working with the departmental government of Antioquia, “Oro Legal” projects (and the “Bioredd” […]

Companies

Violence Slams Legitimate Canadian Gold Miners in Antioquia

Medellin Herald August 1, 2017

Toronto, Canada-based Continental Gold announced July 29 that six of its security contractors died following a suspicious explosion July 28 at an illegal mine nearby its Buritica, Antioquia gold mine. Just three days later, fellow Toronto-based miner Gran Colombia Gold announced August 1 that it is trying to deal with a massive outbreak of violence […]

Companies

Nutresa First-Half 2017 Net Profit Rises 1.9% Year-on-Year

Medellin Herald July 29, 2017

Medellin-based multinational packaged-foods giant Grupo Nutresa announced July 28 that its first-half 2017 net profit rose 1.9% year-on-year, to COP$236 billion (US$78.7 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) dipped by 1.3% year-on-year, to COP$527 billion (US$176 million), according to the company. Sales inside Colombia grew 3.9%

Companies

EPM First-Half 2017 Net Profits Jump 78% Year-on-Year

Medellin Herald July 26, 2017

Medellin-based multinational utilities giant Grupo EPM announced July 25 that its first-half 2017 earnings before interest, taxes, depreciation and amortization (EBITDA) rose 33% year-on-year, to COP$2.6 trillion (US$862 million), while net profits rose 78% year-on-year, to COP$1 trillion (US$331 million). The city of Medellin – EPM’s sole shareholder – so far this year