Grupo Energía de Bogota consolidated profit grew by 19.4% during 3Q 2014
06 November 2014
- Net profit of Grupo Energía de Bogotá reached COP 936,690 million as of September 2014.
- The natural gas transport business in Colombia and the natural gas distribution business in Peru were the major contributors to these results.
- EBITDA- last twelve months- reached COP 1.9 billion as of September 2014
Bogota D.C. 6 November 2014. Today Grupo Energía de Bogotá disclosed its net financial results as of September 2014, which grew by 19.4% when compared to the same period in 2013, reaching an amount of COP 936,690 million while operational profit increased by 14% totaling COP 610,649 million.
The natural gas transport business in Colombia, operated by Transportadora de Gas Internacional S.A. ESP –TGI- continues leading EEB’s results contributing with 68% of operational profit followed by natural gas distribution in Peru, which contribution amounted to 30%. In addition, among other business segments driving growth were natural gas distribution in Peru, equivalent to COP 22,865 million (+49%) and electric power distribution in Colombia reaching COP 6,365 million (+21.6%).
Non-operating results grew by 35% vis-à-vis the first nine months of 2013, mainly by an increase of 11.6% in decreed dividends of non-consolidated affiliates. Furthermore, the exchange difference account (accounting effect) decreased by 45.8% when compared to the same period in 2013,
explained by re-expressing in Colombian pesos active and passive positions previously expressed in USD and also due to currency devaluation during the reported period.
Mr. Ricardo Roa, CEO of Grupo Energía de Bogotá expressed his satisfaction with the results and underlined the regional execution and expansion plans the company has in place for the coming years, which investments amount to USD 7.5 billion. Mr. Roa further stated that his challenge ahead is maintaining EEB’s growth path and highlighted the expansion potential in regulated businesses.
N.B. EEB’s earnings conference call will be held on November 6th at 10:00 a.m. (Local Time). To access the webcast, please go to: http://www.media-server.com/m/p/cbst32vp
About Grupo Energía de Bogotá
Grupo Energia de Bogota is the leading corporation in the Colombian power sector. Through its headquarters, Empresa de Energía de Bogotá – EEB, controls nine affiliate companies and directly undertakes electric power transport activities in Colombia, in a market which enjoys the most significant demand in the country. In terms of the electricity chain in Colombia, it participates in the distribution of electric power through Empresa de Energía de Cundinamarca – EEC. In addition, it controls the largest natural gas carrier in Colombia, TGI S.A. In Peru, its company CONTUGAS has a 30-year concession for the transportation and distribution of natural gas in the Ica Department. Likewise, with its company CALIDDA it distributes natural gas in the regions of Lima and Callao. In that same country, together with ISA, it holds stocks in REP S.A. and TRANSMANTARO S.A., which operate 63% of the electricity transmission system in Peru. In 2010, it established TRECSA - Transportadora de Centroamérica S.A.- in charge of building the most important infrastructure Project in Guatemala and will render electricity transmission services as of 2014. Furthermore, GEB has a portfolio of investments in important companies in the electric power sector in which the following stand out, CODENSA S.A., EMGESA S.A., GAS NATURAL S.A., PROMIGAS S.A., Electrificadora del Meta (EMSA) and to a lesser extent ISA and ISAGEN. As of 2013, the Group renders advisory and engineering services in Guatemala and Peru through its affiliate, EEB Ingeniería y Servicios. At the same time, in 2014 it incorporated Empresa de Movilidad de Bogotá SAS E.S.P., an affiliate dedicated exclusively to the development of electricity mobility projects
Nicolás G. Mancini-Suárez
Financing and Investor Relations Management