Grupo Energía de Bogotá recorded COP$536 billion profit at the closing of the first quarter of 2017
23 May 2017
Bogotá, D.C., May 23, 2017. Empresa de Energía de Bogotá (EEB), a company of Grupo Energía de Bogotá, reported the consolidated financial results as of the first quarter of 2017. Net income maintained a sustained growth of 0.9% as of the first quarter of 2017, as compared to the same period of the previous year.
The Group's consolidated operational income decreased in 16.8% during the reported period, mainly as a consequence of the merge of Empresa de Energía de Cundinamarca EEC in September 2016, which are now accounted for as income under the participation method of Codensa. Similarly, income in the segments of electricity transmission and natural gas distribution increased up to 3.9% and 5.7%, respectively.
Within the item of Non-operational results, it is worth pointing out the growth of the equity interest method, which stood at 15.7% including the contributions of the electricity distribution segment of EEC due to the aforementioned merge.
The Group's consolidated EBITDA, on its part, reached COP 1.1 billion as of the first quarter of 2017. This represents a reduction of 16.8% versus the same period of the previous year, due to a lower operational income and a lower amount of dividends ruled by its affiliates.
On May 23, 2017, at 9:30 am local time, EEB will host its conference to present the results as of the first quarter of 2017. To join this conference please use any of the following methods:
Web access link:
Conference ID: 44731216#
Phone access numbers:
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