Grupo Energía Bogotá recorded operating revenues of $1,3 billion in the first quarter of 2020 and a net income of $638,138 million, representing a...
27 May 2020
• This strong performance is the result of higher revenues from Cálidda in Peru, TGI, the main natural gas transporter in Colombia, the Transmission business and the power distribution business of Electro Dunas, Cantalloc and Peru Power.
• The acquisition of Argo Energia, in Brazil, was made official in the first quarter of the year, an operation carried out jointly with the Spanish company Red Eléctrica Internacional.
• The Group, with its cultural attributes, Life First, Social Awareness and Superior Performance, has continued to operate at 100% during this Covid-19 contingency.
• GEB is prepared to return to the regions, following the biosecurity protocols and coordinating with and informing the local authorities of the measures for the current contingency.
Bogotá D.C., May 27, 2020:In the midst of such a difficult situation, Grupo Energía Bogotá S.A. ESP reported positive financial results for the first quarter of 2020. Consolidated revenues amounted to $1,3 billion, with a 25,7% growth, responding to the positive dynamics of each of the business lines, and the net income totaled $638,138 million, with a 39% increase compared to the same period in 2019.
This strong performance is the result of higher revenues from Cálidda in Peru, TGI, the main natural gas transporter in Colombia, the Transmission business and the power distribution business of Grupo Dunas which includes Electro Dunas, Cantalloc and Peru Power.
Astrid Álvarez, CEO of Grupo Energía Bogotá, highlighted the consistent and stable management and strategy over the past four years, which has positioned GEB as one of the most important and solid business groups in the energy sector in Latin America, with a diversified portfolio of controlled and uncontrolled companies and a professional and committed team.
She also maintained that these results are based on two growth pillars: a solid and transparent Corporate Governance and a Sustainability Policy that brings progress and well-being to the communities of Colombia, Peru, Brazil and Guatemala, where GEB operates.
As part of its corporate strategy, the Group has incorporated environmental, social and governance factors (ESG) and the creation of shared value, enabling it to respond more effectively to the challenges of the global economy.
Relevant facts in the first quarter
Some of the most outstanding events during the first quarter of this year include the virtual holding of the Shareholders' Meeting, which approved the distribution of record dividends of $1,29 billion pesos, or $140 pesos per share.
The acquisition of Argo Energia in Brazil jointly with Spanish company Red Eléctrica Internacional was made official. GEB's 50% interest in this acquisition amounted to BRL$1.678 million, equivalent to US$ 330 million. With Argo Energia, the Group will add 1.460 kilometers of transmission lines in Brazil, the country where its subsidiary Gebbras is located.
Cálidda, in Peru, connected a total of 33.822 clients, increasing the cumulative number to 986.504 users. In Colombia, with the Transmission business, the income from new assets in operation such as the La Loma substation in the department of Cesar and Altamira STR in Huila, as well as the acquisitions of the Betania (Huila) and Tuluní (Tolima) substations, began to be accounted for.
Actions due to the Covid-19 emergency
During this contingency, GEB's operations have been delivered at 100% availability, fulfilling the commitment to ensure the provision of such basic services like power and natural gas. It is in such difficult times as these that the private sector has responded to this great challenge with leadership, responsibility, commitment and solidarity.
In this sense, Grupo Energía Bogotá's three cultural attributes: Life First, Social Awareness and Superior Performance are more relevant than ever. With its Life First attribute, GEB has established as a priority to preserve the health and life of its employees, contractors and the inhabitants of the communities where it develops projects, and to protect the jobs of more than 2.300 employees in Colombia, Peru, Brazil and Guatemala.
Before the National Government declared the Health Emergency, the Group had anticipated the effects of the pandemic and in January of this year began implementing the first measures. The Group designed a temporary scheme of care, recovery and stabilization, taking into account the treatment of the crisis, employees, suppliers, contractors, operations and business continuity.
The Group also implemented Contingency and Business Continuity plans, established a Crisis Committee and created a Management Team to deal with COVID-19. The Group, with the support of experts in public health and epidemiology, following the actions of the World Health Organization (WHO) and the National Government, implemented a Protocol for Reactivating Construction, Operation and Maintenance Projects and Administrative Processes, which includes a protocol for relationships with communities.
The protocol includes measures such as division of work teams, rules for access to offices or work sites, shifts, periodic disinfection, transportation, permanent monitoring of the health status of employees (use of the CoronApp).
More than 90% of the administrative and management employees are working from home, both at GEB's corporate level as well as at its main subsidiaries. Administrative operations are normal and priority maintenance has continued in all regions, ensuring the provision of basic services.
Committed to the Social Awareness attribute, employees made voluntary contributions for the most vulnerable communities. In Colombia, contributions were made to the Bogotá Solidaria en Casa program for humanitarian aid.
Cálidda, in Peru, delivered 3.600 food baskets for 12.800 Peruvians and employees of ElectroDunas, Cantalloc and Contugas contributed with food baskets and hygiene kits for about 500 vulnerable families from ICA. In Guatemala, Trecsa and Ebbis and their partners supplied 4.015 hygiene kits to more than 35 vulnerable communities.
Return to the regions
The Group and its companies are prepared to return to the territories, complying with biosecurity protocols and coordinating and informing local authorities of the safety measures that will be taken to prevent the spread of COVID-19. The Group will continue to accompany and support national and local authorities, partners and suppliers, communities, especially the most vulnerable, as long as the social, economic and ecological emergency conditions caused by the COVID-19 pandemic continues.
Also, the Group will continue to strengthen our sustainability management in the territories where we operate with excellence and Superior Performance, giving special importance to the construction of projects and the operation of assets responsibly and carefully for the health and the environment, and to a relationship that respects human rights and citizen participation to create shared value.