Business Economy & Finance

Fitch, Standard & Poors, Moody’s All ‘Negative’ on Colombia Debt

Medellin Herald March 7, 2025

New York-based global financial-ratings agencies Fitch, Standard & Poors (S&P) and Moody’s are now unanimous: Colombia’s debt rating has been downgraded to “negative.” On March 6, Fitch officially changed Colombia’s “Long-Term Foreign-Currency Issuer Default Rating” (IDR) outlook

Business Companies

Coltejer Posts Net Loss for Full-Year 2024

Medellin Herald March 7, 2025

Medellin-based Coltejer – formerly a textile giant but on a steeply downward path – on March 6 posted a full year 2024 net loss of COP$58 billion (US$14 million), worse than the COP$984 million (US$240,000) net loss in 2023. Total income — including real estate revenues — also plunged nearly 50% year-on-year, to COP$44.9 billion […]

Business Companies

Construcciones El Condor Posts Net Loss For Full-Year 2024

Medellin Herald March 1, 2025

Medellin-based highway construction giant Construcciones El Condor reported February 28 a full year 2024 net loss of COP$171 billion (US$41 million ) – a 34% reduction compared to the COP$259.7 billion (US$62.5 million) net loss in 2023. Despite the continuing losses, 2024 revenues rose 34% year-on-year to COP$1.77 trillion (US$426 million), according to the company. […]

Business Companies

Conconcreto Posts Net Loss for Full Year 2024, Reversing 2023 Gains

Medellin Herald February 28, 2025

Medellin-based buildings-and-highways construction giant Conconcreto announced February 28 a COP$176 billion (US$42 million) net loss for full-year 2024, a reversal from a COP$880 million (US$21 million ) net profit in 2023. Revenues also fell 28% year-on-year, to COP$883 billion (US$213 million), while earnings before interest, taxes, depreciation and amortization

Business Companies

Grupo Sura Full Year 2024 Net Income Soars 253% Year-on-Year

Medellin Herald February 28, 2025

Medellin-based multinational insurance and investment-asset-manager Grupo Sura announced February 27 a 253% hike in full-year 2024 net income, hitting COP$6.1 trillion (US$1.45 billion). Proforma operating revenues also rose 23.9% year-on-year, hitting COP$33 trillion (US$8 billion), according to the company. Sura noted that COP$4 trillion (US$968 million) of the revenue

Business Companies

Fabricato Posts Another Net Loss For Full-Year 2024

Medellin Herald February 28, 2025

Medellin-based textile-clothing manufacturer Fabricato announced February 27 a full-year 2024 net loss of COP$43 billion (US$10.4 million) — an improvement over the COP$122 billion (US$31.8 million) net loss in 2023. Fabricato blamed the continuing net losses on an economic slowdown in Colombia, volatility in n raw material prices, declining exports and “unfair

Business Companies

ISA Full Year 2024 Net Income Jumps 14% Year-on-Year

Medellin Herald February 27, 2025

Medellin-based multinational electric power transmisión, highways and telecom-internet operation ISA announced February 27 that its full-year 2024 net income rose 14% year-on-year, to COP$2.8 trillion (US$680 million) — an all-time record. Consolidated revenues rose 12% year-on-year, to COP$15.8 trillion (US$3.8 billion), while earnings before interest, taxes,

Business Companies

Grupo Argos Full-Year 2024 Net Profit Soars 424% Year-on-Year

Medellin Herald February 27, 2025

Medellin-based multinational cement, electric power and highways/airports concessionaire Grupo Argos announced February 26 a 424% year-on-year surge in full year 2024 net profit — hitting COP$7.6 trillion (US$1.8 billion), from COP$1.4 trillion (US$341 million) in 2023. Earnings before interest, taxes, depreciation and amortization (EBITDA) likewise rose 28%

Business Companies

Grupo Éxito Full Year 2024 Profits Fall 57% Year-on-Year

Medellin Herald February 27, 2025

Medellin-based multinational supermarket giant Grupo Éxito announced February 26 that its full-year 2024 net income dropped 57% year-on-year, to COP$54.7 billion (US$13 million), versus COP$126 billion (US$30 million) in 2023. Despite the profits drop, sales revenues rose 3.2% year-on-year, to COP$20.8 trillion (US$5 billion), while recurring earnings before interest,

Business Companies

Grupo Nutresa Full-Year 2024 Net Income Up 3.5% Year-on-Year

Medellin Herald February 21, 2025

Medellin-based multinational foods giant Grupo Nutresa reported February 20 a 3.5% year-on-year hike for full-year 2024 net income, hitting COP$751 billion (US$184 million). Revenues dipped 1.7% year-on-year, to COP$18.6 trillion (US$4.55 billion), according to the company. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 7.8% year-on-year, to