PROMIGAS Corporate Financial Results 4Q 2021
FINANCIAL STATEMENTS
PROMIGAS PROFIT AND LOSS
STATEMENT | Individual
Accumulated 2021 - Accumulated 2020
Revenue¹
▲ 7%
EBITDA
▲ 6%
Net Income
1%
1,639,732
1,535,590
1,390,950
1,309,776
1,149,048
1,137,490
Figures in COP
2021
2020
Revenue for $1.6 Bn (110% Budget)
Operational Revenue (8%): This item shows an increase due to higher billing
TRM in 2021 ($3,690 in 2021 vs. $3,518 in 2020), while we had lower
revenues in 2020 due to flexibility of contracts as a result of the pandemic to
support our customers and was recorded in 2021 income from gas imbalance
billed to Gases del Caribe for losses in the Barranquilla distribution network.
•
Participation Method (6%): Presented an increase for the following reasons:
Gasnorp (Perú): obtained better results in the concession construction
business by IFRS 15 margin due to higher capex in line with the mass
expansion plan for this concession, and better operating results due to the
early entry of customers and their respective volumes.
·
Cálidda (Perú): there was an increase due to higher invoiced volume and
higher income from the sale of internal installations and connections;
Likewise, a lower portfolio provision was recorded in 2021.
GDO: obtained higher profits in the natural gas business due to lower costs,
as well as lower portfolio provision expenses and lower financial expenses.
Surtigas: there was an increase due to higher profits in the natural gas,
FNB and sale of materials and services businesses.
Gases del Pacífico (Perú): lower net profit due to the application of IFRS 15
that began in December 2020 and that included retroactive from previous
years (capex), for which a margin associated with the construction
performance obligation of the concession infrastructure is recognized.
Promioriente: volumes were affected by an emergency in the Gibraltar-
Bucaramanga gas pipeline from August 3 to December 15.
1 Revenue: Operating Revenue+ Participation MethodView entire presentation