Net Income of COP 1.9 billion - Positive Financial Results of EPM Group in the First Half of 2021
In the first half of the year, EPM Group invested COP 1.7 billion in infrastructure projects, of which COP 1.2 billion are of the EPM Holding Company.
- Fecha de publicación
- 2021-08-17 00:00
- Contenido
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- As of June 2021, the Municipality of Medellín has received from EPM Holding Company transfers worth COP 912 thousand million from the financial results obtained last year
- These transfers from the EPM Holding Company to the Municipality of Medellín contribute to the development of social programs in the capital of Antioquia and benefit thousands of people
- In the first half of the year, EPM Group invested COP 1.7 billion in infrastructure projects, of which COP 1.2 billion are of the EPM Holding Company.
As part of its commitment to transforming lives and the responsible management of public resources, EPM Group reported revenues of COP 11.7 billion in the first half of 2021, up 26 % compared to the same period in 2020
In highlighting the consolidated results achieved in the midst of the COVID-19 pandemic, Jorge Andrés Carrillo Cardoso, CEO of EPM, said: “these positive figures were achieved largely thanks to the community’s commitment to paying their public utility bills; to the improvement in commercial operations thanks to higher power generation at our power plants, which received high water levels, and to higher energy sales.”
Between January and June of this year, EPM Group reported EBITDA of COP 3.5 billion. The EBITDA margin was 30 % and the net profit margin was 16 %.
More well-being for the community
EPM Group is a driver for the development of the territories where it is present, through the construction of major infrastructure projects that contribute to the life quality of millions of people, create jobs and drive the economy at a time of major challenges due to the effects of the COVID-19 pandemic.
In the first half of 2021, the business group created added value of COP 6.1 billion and made investments for COP 1.7 billion in projects. These positive results will also enable EPM Group to continue providing its services with high levels of quality, continuity, and coverage, to the benefit of users and the communities in general.
EPM Parent Company results
In the first half of 2021, EPM Parent Company reported revenues of COP 5.3 billion, up 14 % compared to 2020, and EBITDA of COP 2.3 billion, up 37 % compared to the same period in 2020, with a margin of 43 %.
In this financial period, EPM Parent Company reported net income of COP 1.8 billion, up 178 % compared to the same period in 2020, and a net margin of 33 %, demonstrating EPM Group’s financial solidity and reliability.
As of June 2021, EPM Parent Company had paid the Municipality of Medellín COP 912 thousand million, of the total of COP 1.4 billion to be transferred this year, from the financial results achieved in 2020. This translates into more development for the city and new opportunities for its citizens.
Financial Situation of EPM Group
- Total assets: COP 65.3 billion, up 2 %.
- Liabilities: COP 38.1 billion, up 4 %.
- Equity: COP 27.2 billion, up 0.3 %.
- Investments in infrastructure: COP 1.7 billion.
Financial Situation of the EPM Parent Company
- Total assets: COP 54.6 billion, up 2 %
- Liabilities: COP 28.3 billion, up 5 %.
- Equity: COP 26.3 billion, down 0.3 %.
- Investments in infrastructure: COP 1.2 billion, of which COP 627 billion are for the Hidroituango Project
Financial Ratios of EPM Group
- Financial indebtedness: Stood at 42 % both at the EPM Group and the EPM Parent Company
- Debt/EBITDA ratio: At EPM Group, as of June 30, 2021, this ratio was 4.0, compared to 3.9 at the same time last year. At the EPM Parent Company it stood at 5.2 compared to 5.2 in 2020. Excluding the available cash reserve, the Net Debt/EBITDA ratio stood at 3.4 for EPM Group and 4.7 for the EPM Parent Company.