Celsia 2Q21 results

Company News    Aug 13, 2021 3:10 PM

Celsia, energy company of the Argos Group, reported its results for the second quarter of this year.

The company’s consolidated revenues were CoP$940B in 2Q21; 5.5% more compared to the same period last year (CoP$891B), according to a press release.

Colombia represented 87% of the total income (CoP$818B), while Central America represented 13% of the total revenues.

Celsia reported a consolidated EBITDA of CoP$313B in 2Q21, remaining stable compared to previous month.

Operations in Colombia reported an EBITDA of CoP$261B in the second quarter, representing 83% of the consolidated result; this metric decreased 5% compared to 2Q20.

The company reported a net consolidated income of CoP$88.7B; 8.1% less compared to the same period last year (CoP$96.6B). This metric decreased 23% compared to previous quarter.

“The decrease is mainly due to a comparison base effect, as in the same period of 2020 there were non-recurring extraordinary items,” Celsia explained.

CEO Ricardo Sierra said that the positive results are the result of the investments made, the good management of assets, the employees’ commitment and a positive response from customers to the services and products offered.

In addition, Celsia announced that it will multiply its unconventional renewable energy capacity in Colombia by 18 times this year.

“The company started in 2017 with 9.8MW in solar farms. This year we inaugurated Celsia Solar El Carmelo of 9.8MWp capacity and soon Celsia Solar La Paila of 20 MWp will be inaugurated. We will start construction of an additional 140MWp in 2H21,” Celsia said.

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