PROMIGAS Corporate Financial Results 4Q 2021
FINANCIAL FINANCIEROS
PROMIGAS PROFIT AND LOSS
STATEMENT | Consolidated
Accumulated 2021 - Accumulated 2020
Revenue1
▲ 7%
4,495,236
EBITDA
▲ 1%
4,183,028
1,976,172
1,958,600
Figures in COP
2021
2020
Net Income
-3%
1,137,445
1,099,133
EBITDA (A1%)
Increase in EBITDA mainly due to higher operating revenues. This
was offset by higher costs and expenses as a result of the
normalization of economic activities due to the end of the
quarantine.
Net Income (A-3%)
Decrease due to higher depreciation and amortization mainly in
Promigas due to capitalizations made at the end of 2020 and
during 2021, and provisions for impairment, dismantling and
abandonment of gas pipelines. Likewise, there was an increase in
Promigas' income tax, since in 2020 there was a higher tax benefit
for real productive fixed assets (due to the legal stability contract),
as a result of higher investments made for expansion projects, and
adjustment in deferred tax due to a change in the tax rate as a
result of the tax reform. This was partially offset by higher non-
operating revenue in Promisol, due to severance payments from
Ecopetrol and Montecz, associated with the settlement of pending
contracts, and lower non-operating expenses as donations were
made in 2020 to combat the effects generated by the pandemic.
Likewise, there was an increase in income from financial assets due
to updating with real operating and macroeconomic variables, for
those companies with concession contracts.
1 Revenue: Operating Revenue+ Participation MethodView entire presentation