Grupo Energía Bogotá will distribute $1,29 billion in dividends to its shareholders
30 March 2020
• The company recorded revenues amounting to $4,9 billion in 2019 and an income amounting to $1,85 billion.
• The outstanding financial, operational and social results are based on the two pillars of the Group's growth: sound corporate governance and a sustainability policy that brings well-being to the regions where GEB operates.
Bogotá D.C., March 30, 2020. Grupo Energía Bogotá (GEB) held today its Ordinary Shareholder’s Meeting, in which it presented the year 2019 financial, operational and social results.
The Group's operating revenues in 2019 reached $4,9 billion, a 22,2% increase compared to the same period of the previous year. On the other hand, net income in 2019 was $1,85 billion, representing a 5,6% growth compared to 2018. Ebitda went from $2,64 billion to $3,12 billion, with an 18,1% variation.
The Shareholders' Meeting approved the distribution of $1,29 billion in dividends, i.e. $140 pesos per share. The dividends will be paid in two equal installments as follows:
• The first payment until June 24, 2020
• The second payment until October 29, 2020
During her speech at the meeting, which was held via streaming, the CEO of Grupo Energía Bogotá, Astrid Álvarez, said that "thanks to the shared value programs and our cultural awareness with which more than 2.300 GEB collaborators are committed, we have benefited more than 900.000 people in Colombia, Peru and Guatemala".
She added that the Group' s sustainability policy has led to recognition of its genuine and multicultural relationship and for bringing progress to the communities in which it operates. In this regard, she described her two flagship programs; Energy for Peace, thanks to which 46.542 hectares were verified as mine-free green areas and more than 173 kilometers of anti-personnel mines were cleared by the military; and, Energy for Learning, which aims to implement 24 interactive solar classrooms, in partnership with the Ministry of National Education of Colombia.
On the other hand, regarding Corporate Governance, she said that the Group implemented and consolidated its Corporate Governance model, a process in which it adopted more than 92% of the OECD recommendations She indicated that the Group is a company recognized by that Organization as an exemplary case in this area.
She informed the participants in the Meeting about the strengthening of management through integrated risk management models, maturing and creation of value, supply, control architecture and sustainability. She indicated that the digital transformation and human talent management processes were initiated. Regarding the latter, she explained that this process included the implementation of the leadership plan, the development of competencies, the creation of the GEB Academy, change management and the adoption of diversity and inclusion policies.
The achievements of 2019: Among the main achievements of 2019 is the successful acquisition by Grupo Energía Bogotá of the assets of Grupo Dunas, formed by the companies ElectroDunas, Cantalloc and Peru Power Co (PPC), with 245,000 clients.
In Brazil, together with Red Eléctrica Internacional de España, GEB presented an offer to jointly acquire the transmission company Argo Energía, which has 1.460 kilometers of transmission lines, which will allow for the consolidation of a solid energy platform in that country.
In Colombia, the Group continued to grow with its Transmission Branch, with 1.655 kilometers of transmission lines in operation, and with TGI, the leading natural gas transportation company with 4.016 kilometers of pipelines and a 54% market share. In Peru, with its companies Cálidda and Contugas, the company achieved a record of more than one million customers, and in Guatemala, with Trecsa, it advanced by more than 70% in the construction of the PET, the most important energy infrastructure project in Central America.
Another great achievement was the continuation of the zero-fatality record in the operations of GEB and its companies, thus honoring the main cultural trait of the Group: Life first!
Also, in 2019, GEB obtained important recognitions: Dow Jones recognized the company for its performance in the gas sector in terms of sustainability, and Great Place To Work recognized its work environment as having reached a very satisfactory level, higher than most companies in the sector. For Astrid Álvarez, "these good results show the consolidation of the Corporate Strategic Plan drawn up in 2016 and of the two pillars of growth defined by the Group, a solid Corporate Governance and a Sustainability policy that brings progress and well-being to the communities".
About Grupo Energía Bogotá
With more than 120 years of history, Grupo Energía Bogotá (GEB) is a leading business group in the transmission and distribution of power and in the transportation and distribution of natural gas in Colombia, Peru, Brazil and Guatemala. In Colombia, through its Transmission Business, GEB develops electricity projects. With TGI, GEB is number one in natural gas transportation with more than 4.000 kilometers of pipelines. GEB also has stakes in Codensa, Emgesa, Vanti and Emsa. In Peru, GEB is number 1 in natural gas distribution with its subsidiaries Cálidda and Contugas. With ISA REP and ISA Transmantaro, in which the GEB has a 40% stake, it is the leading company in power transmission. In Brazil, with Gebbras, in partnership with Furnas GEB has more than 1.100 kilometers of transmission lines. In Guatemala, GEB is number 1 in power transmission with Trecsa and Eebis.