Enel Colombia reports 85.1% 9-mo profit growth following March merger
- Colombian power energy Enel Colombia reserved a web profit of COP 2.31 trillion (USD 479.7 m/EUR 478.0 m) for the nine-month period through September, boosting the bottom line by 85.1% year-on-year, the business claimed on Wednesday.
The results are not perfectly like-for-like provided the merger mix that developed Enel Colombia from 4 entities in March this year. As the group clarified, the 2022 nine-month financials correspond to outcomes published by the power generation business Emgesa in between January as well as September, as well as the performance of the power supplier Codensa, renewables organization Enel Green Power Colombia as well as Central American procedures in March with September.
These results are compared to the efficiency of Emgesa alone in between January and also September 2021.
Revenues before rate of interest, tax obligations, devaluation, and also amortization (EBITDA) for the period got to COP 4.63 trillion, 113.8% more compared to what Emgesa alone gained a year back. Enel Colombia associated the EBITDA growth to, to name a few, greater earnings which came on the rear of higher electricity prices, larger demand, and a higher generation output thanks to above average hydro accessibility.
Functional revenues increased by 153.3% to COP 8.71 trillion.
Set expenses increased too, to COP 600.8 billion, as staff costs increased, together with the base pay and the consumer price index compared to the exact same period in 2021. Once the circulation as well as the renewables organization were soaked up, the merger also contributed to the cost increase, the company said.
Throughout the nine-month duration, the power business created 10,422 GWh of electrical energy in Colombia, up by 7.9% year-on-year. The share of hydro because was 97%, while thermal as well as solar power plants created 2% and also 1%, specifically, of the overall volume.
In Central America, Enel Colombia generated 1,620 GWh with hydro as well as solar power.