EPM 2020 results

Company News    Mar 24, 2021 5:15 PM

The EPM Group reported its results for 2020. Here are the details.

The company reported revenues of CoP$19.8T during 2020; 8% more than the previous year, the firm said in a statement said.

“The energy business generated about 87% of income and 13% was from the water business,” EPM explained.

EPM Matrix contributed 48% of revenues, foreign affiliates 32% and domestic affiliates 20%.

“The company will transfer CoP$1.4T to the Municipality of Medellín from surpluses, thanks to the financial results achieved in 2020,” the statement says.

Mónica Ruiz Arbeláez, Acting General Manager of EPM, said that 2020 was one of the most challenging years for humanity due to the Covid-19 pandemic, its restrictions, uncertainty, and the new reality.

EBITDA was CoP$5.8T, representing a 29% margin, slightly below the 2019 level.

“This was caused by the increase in operational costs related to the activities developed to mitigate the pandemic,” Ruiz explained.

The company said that the pandemic had a total impact of CoP$750B. However, the firm reported a net profit of CoP$3.7T, 19% above the previous year.

“These positive results allow us to continue being the engine of progress in the regions, generating employment thanks to the development of infrastructure projects and social investment programs,” Ruiz added.

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