Grupo Energía Bogotá recorded income of COP$1,7 billion and declared a dividend distribution of COP$1,2 billion
28 March 2019
- Net income reported a 13,5% growth and operating revenues reported a 12% growth compared to the previous year
- The Group will pay its shareholders historical dividends of $130 per share
Bogotá D.C. March 28, 2019.The General Shareholders' Meeting of Grupo Energía Bogotá approved this Thursday the 2018 financial results, which highlighted the 13,5% growth in net income compared to 2017, which amounted to COP$1,7 billion, a historical record. On the other hand, this year' s operating revenues grew by 12%, reaching COP$4 billion, as a result of the good operational, commercial and financial performance of the Group's companies and the companies in which it holds an interest.
Likewise, the General Shareholders' Meeting authorized the distribution of profits in the amount of COP$1,2 billion, a historical figure that represents the payment of COP$130 per share to its more than 7.000 shareholders. This figure reflects growth compared to 2017, when a dividend of COP$115 per share was paid, achieving a dividend yield of over 6%.
The dividend approved by the Shareholders' Meeting will be made in two 50% payments as follows: the first on June 28 and the second on October 23, 2019.
The CEO of Grupo Energía Bogotá, Astrid Álvarez, highlighted the good results of 2018, saying that "these would not have been possible without the support of our shareholders, the passion, effort and commitment of our employees, and the welcome and affection of the communities in the areas of influence of our projects. We are working to continue growing our energy and natural gas businesses in Latin America in 2019.
Among the most outstanding events in 2018 in Grupo Energía Bogotá and its subsidiaries are the following. In Colombia, two important power transmission projects were inaugurated: Río Córdoba and Bolívar-Cartagena, which will increase the reliability of the electricity service in the Atlantic coast.
In addition, the UPME awarded the Colectora project, which marks a milestone in the history of the sector because it will allow for the first time to transport the energy that will be produced in the La Guajira wind farms to the rest of the country.
In Peru, Cálidda achieved a record of 184.000 natural gas connections, with more than 761.000 customers, benefiting about three million Peruvians, while Contugas met in advance the 50.000 customers goal expected for 2020.
In Guatemala, Trecsa reported 74% progress in the PET, the most important power expansion project in Central America, and Eebis completed the South Pacific Ring, the first private power transmission project to be 100% completed in the country. For its part, Gebbras, in Brazil, continues to seek new business and expansion in this key market.
Álvarez said that in addition to energy transmission and gas transportation, Grupo Energía Bogotá seeks to bring progress to the communities in the countries where it operates, through green corridors, by incorporating the concept of sustainability and environmental protection along the route of the projects.
Board of Directors
The Ordinary General Shareholders' Meeting also approved the list submitted for the election of the members of the GEB Board of Directors. Marc Willy Eichmann Perret, replacing Luis Fernando Uribe, has joined as a new principal member.
The Board of Directors is composed as follows
Likewise, the General Shareholders' Meeting approved the individual and consolidated financial statements as of December 31, 2018 and its annexes.
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, the company has a partnership with Furnas which includes 1.100 kilometers of transmission lines. In Guatemala, GEB is number 1 in power transmission with Trecsa and Eebis.
Jacqueline Guevara Gil
External Communications Advisor