Company News Apr 29, 2021 7:41 PM
The EPM Group reported its results for 1Q21. Here are the details.
The company reported consolidated revenues of CoP$5.6T during 1Q21; 18% more than the previous year (CoP$4.7T), the firm said in a statement said.
This metric decreased 2% compared to previous quarter, when it was CoP$5.7T.
“EPM had a positive performance in the first quarter of 2021, despite the challenges imposed by the Covid-19 and the global economic situation,” the firm said.
The company reported a net income of CoP$856B in 1Q21, compared to a net loss of CoP$276B in 1Q20.
“Net income was thanks to a better result of the commercial operation, as a result of the increase in energy generation, given the high-water levels and the reserves in the reservoirs,” EPM highlighted.
Group’s EBITDA was CoP$1.7T in 1Q21, representing a 31% margin.
“EPM is an important engine in the development of the territories in which it is present, with the higher purpose of contributing to the harmony of life for a better world,” the firm said.
The company explained that the business group generated distributed added value for CoP$3.2T in 1Q21.
“This means a contribution to the recovery and revitalization of the economy and the generation of employment,” EPM highlighted.
Results obtained by EPM Parent Company in 1Q21 were also positive.
“The company achieved revenues of CoP$2.5T, with a growth of 7% compared to the previous year. Its EBITDA was CoP$1.5T and its net profit of CoP$598T,” EPM said.