Empresa Energía de Bogotá shows positive results 1Q 2012
Bogotá, Colombia, 23 April 2012
Operating results and dividends decreed by its participated companies, affected net profit growth of Empresa de Energía de Bogotá.
- The Company announced that when comparing 1 Q 2012 to 1Q 2011 and increase of 140,6% is appreciated.
Bogotá D.C, 25 April 2012 - Empresa de Energía de Bogotá reported, at the closing of 1Q 2012, a net profit of COP 540.005 million, exceeding in COP 315.608 million that registered in that same period of 2011.
This results was affected by the way operational profits of its controlled companies behaved and dividends decreed by its participated companies.
Company's operational profit grew by 5.7% mainly due to better results in Cálidda and TGI.
Cálidda is a Peruvian company dedicated to the distribution of natural gas in the area of Lima and Callao, which in 2011 duplicated the number of users connected to the network. This company hopes to carry out investments this year amounting to US$105 million that will allow it to increase in 82% the number of users connected (it hopes to connect 105 thousand users this year).
On the other hand, TGI, a company dedicated to natural gas transport in Colombia, is completing its enhancement process of its infrastructure that required investments close to US$ 700 million to increase its transport capacity by 53%. Two of the three faces of the enhancement project are in operation and the Company expects that the third, the largest one, begins operation in June this year.
Likewise, dividends decreed by its participated companies grew in 175% in the 1Q of this year, in part due to better operational results of these companies, and also due to the fact that in the same period of the previous year Emgesa, Codensa and Gas Natural decreed dividends based on the results of the past few months in 2010. Even if these companies had decreed their dividends based on annual period, EEB's net profits during the 1Q of this year would have grown by 4.2%.
Results confirm the low risk level of the businesses in which EEB participates. Similarly it is important to note the high growth potential through its controlled businesses and its participated investments, with the execution of the expansion plan by around US$ 3.000 million.
It is worth highlighting the backing that the current Board of Directors has provided to the Business Plan, a fundamental support to win three transmission bid in Colombia, which investment is estimated in US$ 140 million, and on the presentation of an offer to build transmission assets in Chile, which investments is set at around US$ 700 million.
The above, together with the projects that the Company is currently undertaking: electric Transmission System TRECSA in Guatemala, transport and distribution natural gas system of Contugas in Perú, expansions TGI in Colombia and market enhancement carried out in Cálidda, also in Perú.
About Grupo Energía de Bogotá
Grupo Energía de Bogotá is a leading corporation in the Colombian energy sector. Through EEB it transports electricity to a market enjoying one of the largest demand in the country and greatest in size, in addition it has control of the largest natural gas carrier in the country, TGI S.A. In Perú, it 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. In addition, it holds a portfolio of significant investments in large 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.