September 27, 2023

Medellin-Based Nutresa, ISA, Conconcreto See 3Q 2016 Earnings Improve

Medellin-based construction giant Conconcreto announced November 9 that its third-quarter (3Q) 2016 net profits rose 23% year-on-year while gross income hit COP$1.1 trillion (US$353 million), up 29% year-on-year.

Meanwhile, the company’s order backlog grew to COP$3.4 trillion (US$1.09 billion) — mainly in highway infrastructure projects, but also in the giant “Hidroituango” hydroelectric dam project in Antioquia, due for start-up around 2019.

Recently finalized Colombian infrastructure projects assure at least more years of highway construction work, according to the company, which recently inked a strategic investment deal with France-based Vinci (see Medellin Herald on December 21, 2015).

Conconcreto also revealed that it’s now executing 16 innovation projects in cooperation with Colciencias, including a novel, three-dimensional printing prototype that promises to optimize its industrial processes, according to the company.
Nutresa Sales, EBITDA Jump

Meanwhile, Medellin-based food-products giant Grupo Nutresa announced that its 3Q 2016 sales grew 13% year-on-year, hitting COP$6.4 trillion (US$2 billion),  while earnings before interest, taxes, depreciation and amortization (EBITDA) grew 9.7%, to COP$800 billion (US$256 million) and EBITDA margin hit 12.5%.

“Sales abroad, measured in Colombian Pesos, are 17.1% higher than those registered [in 3Q] 2015,” at COP$2.5 trillion (US$802 million) and represented 38.9% of total sales, according to Nutresa.

“Gross profit, at  COP$2.7 trillion [US$866 million], grew 10.6% over the same period last year, and continues to reflect the combined effect of an increase in average prices as well as a rise in the prices of some raw materials,” according to the company.
ISA Profits Grow

Meanwhile, Medellin-based power transmission giant ISA reported October 31 that its 3Q 2016 EBITDA hit COP$6.3 trillion (US$2 billion), while operating income rose to COP$7.1 trillion (US$2.27 billion) and net income rose to COP$1.5 trillion (US$481 million).

Earnings boosts are mainly the result of better income in power transport, in telecom operations and in its highway management contracts in Chile, according to the company.

As for capital investments (capex), ISA invested COP$133 billion (US$42 million) en power distribution projects related to the gigantic Hidroituango hydroelectric plant, a new power line linking Chinu, Monteria and Uraba, as well as new substations at Cerromatoso, Caracoli and Compensacion Valledupar, according to the company.

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