Companies

Bancolombia’s Investment-Bank Division Wins Global Finance ‘Innovator’ Award

Medellin Herald March 28, 2016

Bancolombia announced March 28 that its investment banking division (“Banca de Inversion Bancolombia”) nabbed the top award for “most innovative” from Global Finance for investment banking in the entire Latin America region during 2015. It’s the first-ever Latin-America regional award for

Companies

Mineros SA Boosting Environmental, Social Projects: Heart of Gold

Medellin Herald March 21, 2016

On the heels of reporting a 60% jump in profits last year, Medellin-based gold miner Minerors SA released its latest annual “sustainability” report showing that company-wide environmental spending rose to COP8.96 billion (US$2.9 million) in 2015, up from COP6.79 billion (US$2.2 million) in 2014. The company also invested millions more in dozens of social projects […]

Companies

ProColombia Touts Medellin-Based Ubidots in ‘Successful Cases’ Report

Medellin Herald March 21, 2016

ProColombia – the national government’s export promotion agency – on March 16 touted Medellin-based, high-tech-sensor maker Ubidots as an outstanding example of successful international business development. “India irrigation systems, water levels in England, and handling of intelligent lamps in Germany are some of the processes that Ubidots monitors from Medellin,”

Colombian economy

Medellin-Based Bancolombia Net Income Soars Despite Colombian Economy Dip

Medellin Herald March 15, 2016

Bancolombia – already Colombia’s biggest bank and now operating in 10 countries in Latin America – on March 9 reported a 21% year-on-year (y-o-y) jump in fourth quarter (4Q) 2015 net income, to COP656 billion (US$207.9 million). Full-year 2015 net income rose 5.5% y-o-y, to 2.5 trillion (US$792 million), according to the company. The bank’s […]

Companies

Fabricato, Coltejer Report Improved Financial Results in 2015

Medellin Herald March 3, 2016

Medellin-based textile manufacturer Fabricato revealed February 24 in a filing with the Superintendencia Financiera de Colombia that its fourth quarter (4Q) net income rose to COP4.9 billion (US$1.5 million), up from a net loss of COP11.6 billion (-US$3.6 million) in 4Q 2014. Earnings before interest, taxes, depreciation and amortization (EBITDA) for 4Q 2015 rose to […]

Companies

Conconcreto, Construcciones El Condor 2015 Profits Jump on Infrastructure Projects

Medellin Herald March 3, 2016

Medellin-based construction industry giants Conconcreto and Construcciones El Condor both reported March 1 that revenues and profits are soaring thanks to recent, current and future launches of giant construction projects including the “fourth generation” (4G) highways and related ocean freight ports. According to Conconcreto, full-year 2015 profits soared 305%

Economy & Finance

Antioquia’s Banana Growers Seeing Big Jump in Exports: Augura

Medellin Herald March 3, 2016

The Medellin-based national trade association for Colombia’s banana growers (“Asociacion de Bananeros de Colombia,” also known as “Augura”) announced March 2 that 2015 exports jumped 14% year-on-year (y-o-y), to 94 million 20-kilogram (kg) boxes. Augura, which represents 75% of all Colombian banana acreage, notes that the major producing areas are Uraba (Antioquia),

Companies

Medellin-Based Exito Retail Chain Reports Huge Growth in 2015

Medellin Herald March 2, 2016

Medellin-based supermarket and retail chain Grupo Exito announced March 1 that its full-year 2015 consolidated revenues skyrocketed by 219% thanks to recent acquisitions in Brazil, Argentina and Uruguay, in addition to continuing growth in Colombia. Consolidated revenues hit COP33.4 trillion (US$10 billion) in 2015, while net income rose 14.8% year-on-year (y-o-y), to

Companies

ISA 2015 Net Income Hits All-Time Record

Medellin Herald March 2, 2016

Medellin-based ISA – principal operator of Colombia’s national electric power transmission grid and the “XM’ power trading network,  as well as operating toll-road concessions internationally – announced March 1 that its full-year 2015 net income rose 37.6% year-on-year (y-o-y) to COP701 trillion (US$219 million), an all-time record.  Full-year 2015 operating

Companies

Mineros SA Full-Year 2015 Profits Jump 60% Despite Fall in Gold Prices

Medellin Herald March 1, 2016

Medellin-based Mineros SA – a 100% Colombian-owned pioneer in novel alluvial mining of gold – on March 1 announced that its net profits for full-year 2015 rose 60.3% year-on-year (y-o-y), to COP72.8 billion (US$22 million), despite a small reduction in total gold produced. Full-year 2015 earnings before interest, taxes, depreciation and amortization (EBITDA) also rose […]