Companies

Orbis Trims Net Losses for 2Q 2017 Year-on-Year

Medellin Herald August 24, 2017

Medellin-based paints, chemicals, hardware supplies and pipe manufacturer Grupo Orbis this month posted a second-quarter 2017 net loss of COP$1.5 billion (US$504,000), an improvement over the COP$11 billion (US$3.7 million) net loss in 2Q 2017. Sales improved slightly in 2Q 2017 to COP$369

Companies

Familia SA 2Q 2017 Profits Soar Year-on-Year

Medellin Herald August 24, 2017

Medellin-based multinational personal hygiene products manufacturer Familia SA announced this month that its second quarter (2Q) 2017 net profits soared to COP$51 billion (US$17 million), up from a COP$51 billion (US$17 million) net loss in 2Q 2016. Sales also rose in 2Q 2017, to COP$583 billion (US$196 million), versus COP$570 billion (US$191 million) in 2Q […]

Companies

Enka 1H 2017 Profits Fall Year-on-Year; Coltejer Losses Mount

Medellin Herald August 24, 2017

Medellin-based Enka de Colombia – producer of fibers and filaments including nylon and polyester – this month reported that its first-half (1H) 2017 net profits fell to COP$1.9 billion (US$641,000), down sharply from COP$9.3 billion (US$3 million ) in 1H 2016. Sales also dropped year-on-year, to COP$84.8 billion (US$28.6 million) in 1H 2017, versus COP$92.5 […]

Companies

Compañía de Empaques Sees 1H 2017 Profits Drop

Medellin Herald August 24, 2017

Medellin-based Compañía de Empaques – makers of fibers for industrial, agricultural, construction and infrastructure sectors – announced this month that its first-half (1H) net profits fell to COP$1.96 billion (US$662,000), compared to COP$13.5 billion (US$4.5 million) in 1H 2016. While sales rose year-on-year — to COP$193 billion (US$65 million) in 1H 2017 versus

Companies

Mineros SA First-Half 2017 Net Profits Dip 2.9% Year-on-Year

Medellin Herald August 20, 2017

Medellin-based gold mining giant Mineros SA announced August 17 that its first-half (1H) 2017 net profits dipped 2.9% year-on-year, to COP$74 billion (US$24.7 million), while operating income dipped 4%, to COP$199 billion (US$66.6 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 12.2% year-on-year, to COP$100 billion (US$33 million),

Profiles

‘Digital Nomads’ Becoming Permanent Medellin Residents: 3 Stories

Medellin Herald August 19, 2017

Until recently, twenty-nine-year-old U.S. expat Steve Marcinuk – who has worked in 30 countries and scores of cities – could be tagged as a “digital nomad” who’s only temporarily in Medellin. But that’s changing as Marcinuk – having just completed his first full year in Medellin — instead is putting down roots, making plans and […]

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, depreciation and amortization (EBITDA) rose five-fold, to COP$226 billion (US$76

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