Emgesa results

Company News    Oct 31, 2021 12:44 PM

Emgesa announced its financial results for the January-September period this year.

Revenues went from CoP$3.2T in the first nine months of 2020 to CoP$3.4T in the same period this year, according to a press release.

EBITDA increased 13.7% to CoP$2.2T in the January-September 2020 period compared to CoP$1.9T in the same period of 2020.

Net income was CoP$1.2T in this period, while it was CoP$958B in the same period 2020, representing a 16.6% increase.

The company has invested CoP$113B during this year, focusing mainly on the modernization and maintenance of the power plants, activities associated with the completion of the El Quimbo sustainability plan and the refurbishing of equipment and infrastructure at the Bogotá River power plants.

CEO Lucio Rubio said that hydrological conditions have represented a great challenge for power generation during 2021.

“However, our corporate strategy, leveraging sustainability and energy transition, has allowed us to bring reliability and security to the National Interconnected System (SIN),” Rubio said.

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