Grupo Energía Bogotá reported 22,1% growth in revenues and 5,6% growth in net income in 2019
05 March 2020
Among the main achievements of 2019 are the acquisition of the Electro Dunas Group in Peru and the bid for the joint acquisition with Red Eléctrica de España of the company Argo in Brazil.
Bogotá D.C., March 05, 2020. Grupo Energía Bogotá presented today positive financial results for the fourth quarter of the year and for the entire year 2019, as well as the main achievements in its natural gas and electricity business lines.
The Group's operating revenues in 2019 reached $4,89 billion, representing a 22,1% increase compared to the same period of the previous year, as a result of the positive dynamic of its businesses. On the other hand, net income in 2019 was $1,85 billion, corresponding to a 5,6% growth compared to the figures restated for 2018 (8,3% growth compared to the real income for 2018). EBITDA went from $2,64 billion to $3,12 billion, with an 18,1% variation.
The Group will propose to the Shareholders a distribution of $1,29 billion in dividends, i.e. $140 pesos per share.
Some of the main achievements during 2019 are the successful acquisition in Peru of Grupo Dunas, formed by ElectroDunas, Peru Power Co (PPC) and Cantalloc, which are businesses perfectly aligned with the company's growth strategy and investment thesis, and which the company began to include in its operation and results as of August 10, 2019, thus increasing the number of clients by 245.000.
Cálidda, a gas distribution company in Lima and Callao (Peru), recorded record growth in the number of connected customers, exceeding 950.000. The Transmission Branch in Colombia acquired the Betania 230 kV and Tuluní 230 kV substations.
In addition, the Group presented an offer to acquire, together with the Spanish company Red Eléctrica Internacional, the company Argo Energía in Brazil, which represents an important consolidation for GEB of the energy transmission business in that country.
For Astrid Álvarez, CEO of Grupo Energía Bogotá, "these good results show the consolidation of the company's Corporate Strategic Plan aligned with ESG factors (environmental, social and governance), which have allowed us to have a profitable growth, but with a high social conscience to bring progress and work together with the communities where we operate".
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.