Business Companies Uncategorized

Enka 1H 2025 Net Income Plummets 93% Year-on-Year

Medellin Herald August 12, 2025

Medellin-based textiles and plastics-recycling giant Enka announced August 12 that its first-half (1H) 2025 net income fell 93% year-on-year, to just COP$635 million (US$158,000), from COP$8.9 billion (US$2.2 million) in 1H 21024. Revenues for 1H 2025 fell 14.5% year-on-year, to COP$206 billion

Business Companies Uncategorized

Construcciones El Condor Posts Net Loss for 2Q 2025

Medellin Herald August 9, 2025

Medellin-based highway construction giant Construcciones El Condor on August 8 posted a second quarter (2Q) 2025 net loss of COP$209.8 billion (US$51.7 million) — 224% worse than the COP$64.7 billion (US$15.9 million) net loss in 2Q 2024. Revenue from ordinary activities in 2Q 2025 totaled COP$492.6 billion (US$121.6 million), down 15% year-on-year, “equivalent to a

Uncategorized

Bancolombia Full-Year 2024 Profits Rise Year-on-Year

Medellin Herald February 20, 2025

Medellin-based multinational banking giant Bancolombia announced February 19 that its full-year 2024 net income rose 2.4% year-on-year, to COP$6.26 trillion (US$1.52 billion). Fourth quarter (4Q) 2024 net income also rose 10.8% compared to third quarter (3Q) 2024, hitting COP$1.7 trillion (US$414 million), according to the company. Annualized return on equity (ROE) for

Uncategorized

Mineros Full-Year 2024 Net Profits Quadruple Year-on-Year

Medellin Herald February 16, 2025

Medellin-based international gold miner Mineros SA on February 14 reported a 403% year-on-year jump in net profits for full-year 2024, hitting US$86.5 million, from US$17 million in 2023. Revenues rose 20% year-on-year, to US$538 million, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 22% year-on-year, to US$210 million,

Uncategorized

Hidroituango Contractors Absolved From Disastrous Tunnel Collapse

Medellin Herald December 11, 2024

An international arbitration tribunal announced December 10 that the three main contractors at the US$5 billion, 2.4-gigawatt “Hidroituango” hydroelectric dam here in Antioquia were not responsable for the 2018 collapse of a diversión tunnel that ultimately delayed power output by nearly four years and added roughly US$1 billion to project costs. The Colombian Chamber of

Business Companies Uncategorized

Grupo IMSA 2Q 2024 Net Profit Plunges 81%, But 1H Profits Up 50%

Medellin Herald August 17, 2024

Medellin-based multinational diversified manufacturer-marketer Grupo IMSA announced August 16 an 81% year-on-year decline in second quarter (2Q) 2024 net income, to COP$8.7 billion (US$2.16 million), from COP$47.3 billion (US$11.7 million) in 2Q 2023. However, gross revenues for 2Q 2024 rose 8% year-on-year, to COP$93 billion (US$23 million), from COP$87 billion (US$21.6

Business Companies Uncategorized

Éxito 2Q 2024 Net Loss 3-Times Worse Than 2Q 2023

Medellin Herald August 13, 2024

Medellin-based multinational supermarket giant Grupo Éxito announced August 12 a COP$18.7 billion (US$4.6 million) net loss for second quarter (2Q) 2024 — a 203% year-on-year decline from the COP$6.2 billion (US$1.5 million) net loss in 2Q 2023. Sales also dipped 1% year-on-year, to COP$4.8 trillion (US$1.18 billion), while earnings before interest, taxes,

Uncategorized

Celsia 2Q 2024 Net Income Jumps 77% Year-on-Year

Medellin Herald August 7, 2024

Medellin-based electric power producer-distributor Celsia (a división of Grupo Argos) announced August 6 a 77% year-on-year jump in second quarter (2Q) 2024 profits, hitting COP$139 billion (US$33.5 million), from COP$78 billion (US$18.8 million) in 2Q 2023. Revenues also rose 21% year-on-year, to COP$1.9 trillion (US$459 million), from COP$1.58 trillion (US$382 million)

Uncategorized

Enka 2Q 2024 Net Income Crashes 96% Year-on-Year

Medellin Herald August 7, 2024

Medellin-based textiles and plastics recycling giant Enka announced August 6 that its second quarter (2Q) 2024 net income plummeted 96% year-on-year, to COP$5.36 billion (US$1.3 million), from COP$10.5 billion (US$2.5 million) in 2Q 2023. Earnings before interest, taxes, depreciation and amortization (EBITDA) also fell 36% year-on-year, to COP$9.296 billion (US$2.2

Health & Insurance. Uncategorized

Sura EPS Health Network Going Kaput, Leaving Millions in Limbo

Medellin Herald May 29, 2024

Medellin-based health-network-insurance provider Sura EPS – one of Colombia’s biggest EPS organizations, with 5.4 million members – announced May 28 that it has just begun the process to exit the health-insurance market, effectively due to government financial strangulation. The move comes as Sura EPS — a subsidiary of Medellin-based multinational insurance giant