September 25, 2023

Valores Industriales Full-Year 2022 Profits Dip, But Revenues Quadruple

Medellin-based Valores Industriales – now dealing mainly in real-estate, forestry and industrial/commercial operations in Colombia and Costa Rica – announced March 31 that full-year 2022 profits fell 57% year-on-year, to COP$55 billion (US$12 million), down from COP$128.7 billion (US$28 million) in 2021.

However, gross revenues quadrupled year-on-year, to COP$1.02 trillion (US$224 million), while operating earnings also improved by 81%, hitting COP$105.7 billion (US$23 million), according to the company.

The biggest single change last year occurred in June when two branches of Valores Industriales decided to swap their partial shareholdings in Medellin-based salt/chemicals producer Brinsa SA for a 51.5% share of Sodium Group Costa Rica — a conglomerate with holdings in industry, livestock, agriculture, tourism and real-estate services, based in Costa Rica.

Valores Industriales – a 1997 spin-off from Medellin-based paper-products giant Productos Familia (now part of global forestry-products giant Essity) – has traditionally focused upon investments in forestry and real estate, but has since branched into investments in financial services, salt-based chemicals and agriculture.

Besides its new holdings in Sodium Group Costa Rica, other major holdings now include:

— Reforestadora y Manufacturera Los Retiros S.A.S., mainly focused upon real estate, forestry, reforestation, agricultural production and livestock production, based in the Medellin suburb of El Retiro, Antioquia;

— Valores Inmobiliarios Cinco S.A.S., focused upon real estate development, tapping third-party construction partners, also based in El Retiro, Antioquia.

The company has stated that it investigates potential investment deals in many other sectors including automotive chemicals, processed foods, brick production, dermatological products, commercial buildings, construction, potential forestry sites, small-scale hydroelectric projects and solar-power projects, according to Valores Industriales.

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