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
Revenue (A7%)
Operating Revenue (7%): Surtigas: higher profits in the natural
gas business, NBF and materials and services, and lower
financial costs. GDO: increase mainly due to better results in
the natural gas business and lower provisions due to higher
portfolio recovery. Promigas: increase due to higher billing
TRM in 2021 (COP 3,690 in 2021 vs. COP 3,518 in 2020),
lower revenues in 2020 due to contract flexibilization as a
result of the pandemic and recording in 2021 of revenue from
gas imbalance invoiced to Gases del Caribe due to losses in the
distribution network. CEO: Greater gross profit in the
distribution business thanks to an increase in level 1 rates, and
lower impairment due to improved portfolio collections.
Promigas Peru: higher revenues from natural gas sales. The
above was offset by SPEC: decrease mainly due to lower
regasification days in 2021 and the effect of the annual
decrease in Va income due to its treatment as a financial asset
under IFRS.
Participation Method (18%): Cálidda: increase due to better
results in the distribution business as a result of higher
invoiced volume in the industrial and generator segments.
Gases del Caribe: better results in the marketing business and
NBF.
1 Revenue: Operating Revenue+ Participation MethodView entire presentation