Press releases


January 2013

EEB 2012 Preliminary Results and Decisions of the Board of Directors

31 January 2013

  • During its first session, EEB's Board of Directors learned about 2012 preliminary results. The information has not been audited yet, thus the results that will be presented in the General Shareholders Meeting may vary.
  • Upon completing the contractual period established pursuant EEB's bylaws, the Company's CEO, Mrs. Mónica de Greiff, submitted the management report from 2009 – 2013 period.
  • The Board decided to appoint Mr. Fernando Gómez Franco as the new CEO of Empresa Energía de Bogotá and Grupo Energía de Bogotá.  As per the bylaws, his period will last four years, but he may be re-elected by decision of the Board.

Bogotá D.C., 31 January 2013. According to preliminary and non-audited information submitted to the Board of Directors of Empresa de Energía de Bogotá, EEB, net profit grew by 125% when compared to 2011 and reached COP687 billion at the closing of last year.  One of the main growth drivers in the net results was the dividends line item of participated companies, showing an increase amounting to COP187 billion.  Non-operational results evidenced a positive effect on the difference in the exchange rate and financial expenses on the debt contracted in US$.  On the other hand, reduced financial expenses are the result of successful restructuring operations carried out by EEB and TGI.

In operations, one may highlight the positive effects of the natural gas transport and electricity transmission businesses. Operational profit did not reflect growth pace of operational earnings, mainly due to the related costs of the Peruvian construction project, which although it has already began operations, it has not reached maximum capacity.  

On the other hand, upon completing the period in office established by EEB's bylaws, the CEO of the Company, Mrs. Mónica de Greiff, submitted her management report comprising periods 2009 – 2013, among which the dividends delivered during her four years in office stand out, which amounted to COP1.7 trillion, of which Bogota received COP1.35 trillion.

Similarly, it is of great relevance, the consolidation of growth experienced by the Corporation at national and international levels with new investments in Colombia, Peru and Guatemala, amounting to US$2.1billion on natural gas distribution and electricity generation, transmission and distribution.

Also, and according to EEB's bylaws, the Board of Directors decided to appoint as CEO of Empresa de Energía de Bogotá, for a four year term, Mr. Fernando Gómez Franco, who is a lawyer from Universidad Santo Tomás de Bucaramanga, with a diploma in Trade Law from the same institution and specialization in Energy Mining Law from Universidad Externado de Colombia. He has been an Independent Adviser in energy mining issues with energy distributors and traders and is currently General Manager of Compañía de Carbones de Oriente S.A.

About Grupo Energía de Bogotá

Grupo Energia de Bogotá is a leading corporation in the Colombian energy sector. Through EEB it transports electricity to a market enjoying one of the largest demands in the country and greatest in size.  In addition it has control of the major natural gas carrier in the country, TGI S.A.  In Perú, its company CONTUGAS has a 30 year concession for the transportation and distribution of natural gas in the Ica Department, while CALIDDA is in charge of distributing natural gas in Lima and Callao.  In that same country, ISA, participates in REP S.A. and TRANSMANTARO S.A., which operate 63% of the electricity transmission system in the country. In 2010, it incorporated TRECSA - Transportadora de Centroamérica S.A.- that will build the most important energy infrastructure project in Guatemala and will render electricity transmission services as of 2013.  Furthermore, it holds a portfolio of significant investments in other companies in the energy sector, amongst which the following stand out CODENSA S.A., EMGESA S.A., GAS NATURAL S.A., Empresa de Energía de Cundinamarca - EEC and Electrificadora del Meta, EMSA and in a lesser scale ISA and ISAGEN.

More information

Saray Méndez

Communications Adviser


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