EPM presents its management report and forecasts to investors
- Fecha de publicación
- 2022-02-12 00:00
- Contenido
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- The event was held face-to-face in Bogotá, with approximately 80 participants from the financial sector and investors.
- The information shared by EPM during the event indicates that the Company’s finances are strong and that its operating flows remain stable.
- The CEO of EPM announced to investors that a dry test will be run at the future Ituango hydroelectric power plant in July.
On Thursday, May 12, EPM Group held its 16th Investor Meeting in Bogotá, as part of its open information strategy aimed at maintaining a transparent and close relationship with the financial sector.
The meeting was hosted by Jorge Andrés Carrillo Cardoso, CEO of EPM, and Martha Lucía Durán Ortiz, Chief Financial and Investment Executive. Close to 80 Colombian securities market agents attended, as well as representative from national and international commercial banks and development and promotion banks.
Investors had the opportunity to review the good financial performance of the business group during 2021, when consolidated EBITDA totaled COP 7.4 billion, up 29% compared to 2020, equivalent to a 30% margin. In turn, the EPM Parent Company reported EBITDA of COP 4.6 billion, up 27%, equivalent to a 41% margin.
CEO Carrillo Cardoso added during his presentation that “EPM Group has faced major challenges and has moved forward with its strategy aimed at ensuring a solid financial position by optimizing financing sources, prioritizing the sustainability of the core businesses, executing the investment plan, covering the needs arising from the contingency at Hidroituango, and achieving operating efficiencies.”
During the results presentation, Martha Durán, Chief Financial and Investment Executive, highlighted the financial figures for the period, indicating that the net income of EPM Group totaled COP 3.3 billion, with a 13% margin. She added that the EPM Parent Company reported net income of COP 3.4 billion, up 32% compared to 2020, with a net margin of 30%. The figures demonstrate the solid finances and confidence of EPM Group.
Regarding Hidroituango, Carrillo Cardoso highlighted that the works completion rate stood at 88.1% on April 30, 2022. He reiterated that the two generation turbines will begin to operate before November 30 this year, while pointing out that the exact date for initiating operations will be announced once the results of the audit that is currently in progress are available. He said that “the best signal for the market is for the information to have been audited by a third party. We are confident and we have not made any decisions that would produce any delays to the Project. However, some decisions will depend largely on the rainy season, and certain logistics difficulties that have caused a few days of delay. Today we are convinced that we will come on stream before November 30, which is when we must fulfill firm energy obligations.”
The CEO also announced that in July this year dry tests will be run on the turbines of the Ituango power plant, which basically represents the completion of the civil works and of the electromechanical installation works.
Regarding the affiliates, the CEO of EPM highlighted the COP 543 billion invested in 2021 in the infrastructure of Afinia, which is 8 times greater than the average investments made in the region in the last 8 years.
Well-being for Citizens
The EPM Parent Company transferred to the Municipality of Medellín funds in the amount of COP 1.4 billion in 2021, and its forecast for 2022 is to transfer a total of COP 1.8 billion. These figures mean more well-being for the communities and the development of the territories.
This time the event was held face-to-face in Bogotá, as had been customary until 2019. The last two editions were carried out virtually in abidance of the recommendations related to the Covid19 health emergency.
Through this exercise of transparency and open information, EPM Group continues to work on promoting and strengthening relations with its various stakeholders, propitiating conversations about the relevant topics of the organization and of interest to all.