PROMIGAS Corporate Financial Results 4Q 2021
FINANCIAL STATEMENTS
PROMIGAS PROFIT AND LOSS
STATEMENT | Individual
Revenue¹
▼ -31%
421,983
4Q 2021 - 4Q 2020
607,273
EBITDA
▼-36%
544,522
346,135
Net Income
▼-49%
256,104
Figures in COP
4Q-2021 4Q-2020
500,920
EBITDA for $346,135 MM (110% Budget)
Decrease due to lower revenue from the participation
method and higher costs and expenses due to higher
specialized consulting services related to the incursion
into new businesses, in line with our strategic plan,
and to the normalization of activities due to the end of
the quarantine.
Net Income for $256,104 MM (98% Budget)
This account includes the decrease due to lower
EBITDA, the impact of the higher depreciation and
amortization due to the recording of provisions for the
intelligent pig (internal cleaning of gas pipelines) to be
carried out in 2022 and due to the recording of the
deterioration and dismantling of gas pipelines due to
replacement work. Likewise, there were higher
financial expenses associated with the higher average
debt balance and higher CPI (40% of our debt is
indexed to this parameter, mainly COP bonds).
1 Revenue: Operating Revenue+ Participation MethodView entire presentation