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Orbis Pintuco 2018 results February 2019 Orbis Pintuco Plant in Rionegro, Antioquia / Source: Pintuco

Orbis Pintuco 2018 results February 2019

Published in Companies Written by  July 11 2019 font size decrease font size increase font size 0
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Orbis Posts US$1 Million Net Loss for Full-Year 2018

Medellin-based multinational paints and building-supplies manufacturer Grupo Orbis revealed February 14, 2019 in a filing with Colomba’s Superfinanciera corporate oversight agency that it posted a COP$3.2 billion (US$1 million) net loss for full-year 2018, compared to a COP$40.7 billion (US$12.9 million) net profit in 2017.

Full-year 2018 sales dipped slightly year-on-year, to COP$1.46 trillion (US$464 million), down 0.9% from COP$1.69 trillion (US$538 million) in 2017, according to the company.

The company includes the giant “Pintuco” paints subsidiary along with chemicals unit Andercol, water-treatment specialist O-Tek and aerosol-spray specialist Mundial.

On another front, Icontec -- the Colombian Institute of Technical Standards and Certification – last month awarded Pintuco a special certification for its recent efforts to slash net global-warming emissions through the “BanCO2 Plus” project, which helps Antioquian farmers replant native trees and conserve local water resources.

“Being ‘carbon-neutral’ is the result of the commitment that our organization has toward reduction and compensation for greenhouse gases (GHG) emissions,” according to Pintuco.

Read 206 times Last modified on Last modified on July 11 2019

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