Companies

Medellin’s Grupo Nutresa 2016 Profits Dip 7.2% Year-on-Year

Medellin Herald February 27, 2017

Medellin-based multinational foods conglomerate Grupo Nutresa announced February 24 that its full-year 2016 net profits dipped 7.2% year-on-year, to COP$399.7 billion (US$138 million). Gross profit rose 7.9% year-on-year, to COP$3.7 trillion (US$1.27 billion), while consolidated earnings before

Companies

Medellin’s Odinsa Posts 49% Hike in 2016 EBITDA Year-on-Year

Medellin Herald February 27, 2017

Medellin-based highway, airport and power-plant infrastructure concessionaire Odinsa announced February 27 that its full-year 2016 earnings before interest, taxes, depreciation and amortization (EBITDA) rose 49% year-on-year, to COP$1.06 trillion (US$367 million). Full-year 2016 revenues hit COP$1.48 trillion (US$512 million), up 65% year-on-year, according to the company.

Colombian economy

Colombia’s 2016 Full-Year GDP Up 2%, Free-Trade Exports Improve Year-on-Year

Medellin Herald February 24, 2017

Colombia’s national economic statistics agency (DANE) announced February 22 that gross domestic product (PIB in Spanish initials) grew 2% year-on-year in 2016, down from 3.1% in 2015. Financial services (up 11%) and real-estate (up 3.2%) led all growth categories, while construction jumped 4.1% and industrial manufacturing rose 3%, according to DANE. Colombia has seen 17

Companies

Bancolombia 2016 Profits Jump 13.8% Year-on-Year

Medellin Herald February 24, 2017

Medellin-based Bancolombia – Colombia’s biggest bank – on February 21 announced that its 2016 full-year profits rose 13.8% year-on-year, to COP$2.86 trillion (US$994 million). “The growth in 2016 of the Bancolombia group — in the midst of a soft-landing of the Colombian economy after an important external shock — showed positive behavior,” according to the […]

Companies

Celsia’s 2016 EBITDA, Net Income Both Rise Year-on-Year

Medellin Herald February 24, 2017

Medellin-based electric power producer Celsia reported February 21 that its full-year 2016 earnings before interest, taxes, depreciation and amortization (EBITDA) rose 51% year-on-year, to COP$1.03 trillion (US$357 million) – an all-time-record. Net income also rose to COP$171 billion (US$59 million), while investments totaled COP$302 billion (US$104 million). In fourth

Companies

Cormagdalena to Consider PowerChina Dredging Proposal on March 8

Medellin Herald February 24, 2017

Cormagdalena – the Colombian government agency overseeing a proposed dredging project for the Magdalena River – announced February 22 that it had received a letter of intent from PowerChina Limited Colombia (PCLC) that would assume control of the long-stalled project. However, according to Cormagdalena, PCLC still must complete technical, legal and financial analyses of

Colombian economy

Colombia’s Industrial Manufacturing Rebounded Sharply in 2016: DANE

Medellin Herald February 14, 2017

Colombia’s national economic statistical agency — Departamento Administrativo Nacional de Estadística, DANE — reported February 14 that its latest monthly manufacturers’ survey (Encuesta Mensual Manufacturera, EMM) shows a strong industrial rebound for full-year 2016. According to the survey, industrial manufacturing rose 3.5% year-on-year in 2016, compared to

Companies

Antioquia’s ‘Flores El Capiro’ Wins International Award; Valentine’s Day Exports Surge

Medellin Herald February 8, 2017

Medellin-based flower exporter Flores El Capiro recently won the International Association of Horticultural Producers (AIPH) “International Grower of the Year” award at a ceremony in Essen, Germany. According to AIPH, Flores El Capiro is one of the largest chrysanthemum growers and container exporters not only in Colombia but also in the whole world. “Delivering flowers

Profiles

Bringing Light to the World, ‘Smart’ Investment to Colombia: Chagai Stern

Medellin Herald February 1, 2017

Thirty-six-year-old Israeli expat Chagai Stern came to Medellin three years ago, riding a comet that has carried him to the heights of fame, fortune and friendships with some of the world’s biggest movers-and-shakers. Now, together with a New York partner, he’s putting part of his fortune and friendships to work for the advancement of Colombian […]

Companies

Colombian Agency OK’s US$102 Million for ‘Vias del Nus’ Highways in Antioquia

Medellin Herald January 25, 2017

Colombia’s national finance agency (Financiera de Desarollo Nacional, FDN) announced January 25 that it approved a COP$300 billion (US$102 million) provisional credit for the under-development “Vias del Nus” highway project linking Medellin northward to the Rio Magdalena and then connecting to key Caribbean ports including Cartagena and Barranquilla. The “Vias del Nus”