Grupo IMSA 1H 2026 Net Income Plummets 85% Year-on-Year
Medellin-based composite materials, consumer products and real-estate investor Grupo IMSA announced August 14 an 85% year-on-year plunge in first half (1H) 2026 net income, at COP$11 billion (US$3.5 million) verus COP$75 billion (US$24 million) in 2Q 2025.
Despite the profits plunge, sales revenues actually rose 13% year-on-year, to COP$175 billion (US$56 million) versus COP$154 billion (US$49 million) in 1H 2025.
Of those 1H 2026 revenues, 48% came from its composites business unit in Brazil and 50% from its consumer-goods business in Colombia, with the remainer via real-estate holdings in Colombia, according to the company.
Compared to 1H 2025 earnings before interest, taxes, depreciation and amortization (EBITDA), 1H 2026 EBITDA rose 327% year-on-year, to COP$14.9 billion (US$4.7 million), according to IMSA.
While 1H 2026 profits declined sharply, second quarter (2Q) 2026 net income only declined 8% year-on-year, at COP$4.4 billion (US$1.4 million) versus COP$4.8 billion (US$1.5 million) in 2Q 2025.
Meanwhile, “Grupo IMSA continues to have no financial debt, with a solid capital structure that allows it to support the growth of its businesses and actively pursue portfolio investments,” according to the company.
“At the close of June 2026, the Group maintained a negative net financial debt, meaning it had higher levels of cash and short-term investments than financial debt, totaling COP$114 billion [US$36 million]. Total liabilities represented 18% of its total assets, compared to 17% in the same period of 2025.”
IMSA’s MCM consumer-products company “continues to experience a partial materialization of the risk associated with the loss of a key customer, due to the concentration of sales in certain customers and sales channels,” according to the company.
“As a mitigation measure, the business maintains a diversification strategy through the development of new alternative channels and the creation of commercial alliances.”
As for its Brazilian businesses, “due to some changes in legislation, especially the constant modifications in tax matters and tariff policies implemented by various governments, there has been a slight materialization of the risk associated with regulatory and normative changes that could directly impact the company’s business model,” according to IMSA.
As for its composite materials business, a slight materialization of portfolio risk also continues. To address this, a credit risk model has been established, detailed customer analysis has been conducted, bank guarantees are requested for customers requiring higher credit limits, and an expected loss model is in place, with adjustments to provisions,” the company added.
