Notes on Colombian Companies.

According to information reported by the entity responsible for corporate oversight, that is, the supervision of companies operating in the country with results as of 2.024, Ecopetrol is the leading company in terms of operating revenue, exceeding the second largest company, EPM, by more than three times. It is also the leading company in profits and exceeds the next largest company, Cementos Argos, by more than two times.

Initially, this note will present the origin of the capital of the main Colombian companies, whether domestic or foreign, and then some comparisons between them will be presented.

Indeed, Ecopetrol, EPM, and Argos are all Colombian owned companies; the first in the nation, the second from Medellín, and the third from private groups.

However, other companies ranked among the top 50 in terms of operating revenue but with foreign capital are the following: Terpel of Chile, Éxito (Carulla) of El Salvador, Avianca of El Salvador and Brazil, ENEL of Italy and Colombia, Claro of Mexico, Ara of Portugal, Drummond of the United States, Koops Commercial (Bavaria's commercial arm) of Belgium, EPS Sanitas of Spain, Primax of Saudi Arabia, and Cerrejón of Qatar.

Also included are Movistar of Spain, Isagen of Canada, Sodimac of Colombia and Chile, Chevron Petroleum of the United States, Verano Energy of the United States, Cruz Verde of Mexico, Vanti of Canada, and Biomax of Honduras.

Other companies with Colombian capital ranked among the top 50 based on operating revenue are the following: Reficar, owned by Ecopetrol, D1 by a private company with Switzerland and Canada, Nutresa by a private company and the United Arab Emirates, Alkosto by a private company, Cenit by Ecopetrol, Salud Total by a private company, Grupo de Energia de Bogotá by Bogotá and a private company, Colsubsidio by a private company, Promigas by a private company, Olímpica by a private company, Sura by a private company, Celsia by a private company, Caribemar by a public company, Air-E by a private company, Oleoducto Central by Ecopetrol, Grupo Bios by a private company, UNE by Colombia and France, Postobon by a private company, Coosalud by a private company, Indega by a private company, Famisanar by a private company, and Trafigura by a private company.

Among the top 100 companies in operating revenue are privately owned Colanta, Toyota of Japan, privately owned Carvajal, privately owned Cafam, public Emcali, privately owned Colombina, privately owned Gases del Caribe, privately owned Italcol, privately owned Samsung of Korea, privately owned Tecnoquímicas, Renault of France, Colgate of the United States, privately owned Alpina, and Colombia Movil (Tigo) of France and Colombia.

As mentioned at the beginning of this article, Ecopetrol leads the way in earnings, followed by Cementos Argos, Grupo Sura, CENIT, EPM, Oleoducto Central, Grupo Energia de Bogota, and ISA. Leading among foreign companies in earnings is ENEL, followed by Drummond, Koops commercial Bavaria, Isagen, Claro, Terpel, and Avianca.

In contrast to all the above, the companies that reported losses are AIR-E, Cerrejón, EPS Sanitas, Famisanar, Coosalud, Movistar, Ara, Compensar, Cencosud (owner of Jumbo), Reficar, Latam, and Renault. Any are nationally owned, while others are foreign owned.

With all the above, a number are emblematic nationally owned companies that have since become foreign owned, such as Exito, Avianca, and Bavaria, stand out. Others emblematic companies remain Colombian owned, such as Postobon, Carvajal, Colombina, Alpina, Nutresa, Manuelita, Olímpica, and Grupo Sura.

It is worth noting some comparative characteristics of the following companies. Reficar, which has the highest operating revenue, does not report profits but losses. Almacenes Éxito, with elevated levels of operating revenue, achieves small profits comparable to those of companies such as Alpina, Hocol, and Copidrogas, whose operating revenues are much lower than those of Éxito. Avianca, which has operating revenues equal to those of Éxito, has profits almost ten times greater than Éxito's. D1 is profitable, while Ara is losing, as is Jumbo, part of the Cencosud group.

Drummond has profits like those of Koops Bavaria, but Cerrejón has losses on par with Ara or Famisanar. Claro has profits higher than those of Terpel, but Movistar has losses, and Colombia Movil (Tigo) has profits like those of D1. Nutresa has profits like those of Claro. Olimpica and Cruz Verde have profits like those of Éxito. Farmatodo does not appear among the top one hundred in operating revenues.

The Bogotá Energy Group has profits like those of ENEL and slightly lower than those of ISA. Postobon, Manuelita, and Colombina have profits like each other but three times those of Exito. Carvajal has losses like those of Renault but higher than those of Pricesmart Colombia.

Movistar has losses close to those of Ara. The Bogotá Water and Sewerage Company has profits like those of Gases del Caribe and Toyota Colombia.

Healthcare companies like EPS Sanitas, Coosalud, and Famisanar are experiencing losses. Colsubsidio has profits that exceed those of Cafam, which are significantly lower.