Grupo Energía de Bogotá recorded 1.3 billion profit at the closing of 2016
23 March 2017
- The Group's net profit at the closing of 2016 increased with regards to the same period of 2015, owing to the operational performance of the group companies.
Bogotá, D.C., March 23, 2017.Empresa de Energía de Bogotá (EEB), a company of Grupo Energía de Bogotá, will present the consolidated financial statements for the closing of fiscal year 2016.It is worth highlighting the performance of theconsolidated net profit, which stood at $1.36 billions pesos, which represents a growth of 27.9% as compared to the closing of 2105, mainly attributed to the good performance of the energy transmission operations in Colombia and the distribution and transportation of natural gas in the markets covered by GEB.
Costs and expenses of the Group decreased in COP 295,442 million and the results derived from operating activities amounted to COP 1.08 billion, an increase of 0.8% when compared to 2015. The exchange difference amounted to COP 142.404 million, with a 145.6% increase with respect to 2015, as as result of a revaluation of 4.72% of the Colombian peso during the reporting period.
The Group's consolidated EBITDA at the closing of fiscal year 2016 stood at $2,612 billion pesos, reporting a 44.4% growth against the EBITDA of 2015, which was impacted by the anticipated dividend distribution of its affiliates in 2014 and its corresponding effect on 2015.
EEE will hold the 2016 results conference on March 23, 2017 at 10:00 a.m. local time. To join this conference please use any of the following methods:
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