Orbis Pintuco 2018 results February 2019
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.
