GEB 2Q21 results

Company News    Aug 27, 2021 2:25 PM

The Bogotá Energy Group (GEB) announced its operational and financial performance for 2Q21.

Income increased 15% to CoP$1.3T in 2Q21 compared to same period last year (CoP$1.1T), according to a press release.

The natural gas distribution segment accounted for 54% (CoP$712B) of total revenues during 2Q21. This metric increased 48% compared to 2Q20.

The gas transportation segment reported a 14% decrease in revenues, going from CoP$407B in 2Q20 to CoP$349B in 2Q21.

Power distribution and transmission segments reported income of CoP$170B and CoP$99B in 2Q21, respectively.

EBITDA stood at CoP$641B in 2Q21; 1% less compared to same period last year (CoP$649B).

“99.5% of EBITDA was generated by controlled companies and the remaining 0.5% corresponds to Argo’s dividends declared in the quarter,” the firm said.

GEB reported a net income of CoP$692B in 2Q21, which means 16% less compared to 2Q20 (CoP$599B).

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