Celsia 3Q 2021 Profits Jump 51.8% Year-on-Year; ‘Green’ Projects Expand
Medellin-based electric power giant Celsia – a division of Grupo Argos – on November 4 reported third quarter (3Q) 2021 net income of COP$105 billion (US$27 million), up 51.8% year-on-year.
Revenues in 3Q 2021 climbed 19.4%, to COP$978 billion (US$252 million), while consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 23%, to COP$316 billion (US$81 million).
For the first nine months of 2021, revenues are up 9.8%, to COP$2.89 trillion (US$745 million), consolidated EBITDA is up 7%, to COP$966 billion (US$249 million) and consolidated net income is up 22%, to COP$309 billion (US$79.5 million), according to the company.
Meanwhile, capital spending so far in 2021 has hit nearlyCOP$1 trillion (US$257 million), according to the company.
On the “green energy” front, Celsia recently won a 225 gigawatt-hour renewable energy auction that will be supplied by the “Celsia Solar Escobal 6” solar photovoltaic farm to be built in Ibagué.
“Celsia Solar Escobal is part of our goal of having more than 25% of our installed power in non-conventional renewable energies,” added Celsia CEO Ricardo Sierra. “For next year we will multiply our capacity for unconventional renewable energy in Colombia by 18 times, compared to 2017.”
On a related “green” front, Celsia announced it has now cut the intensity of its CO2 emissions by 76% compared to 2015, while its similarly environment-friendly “ReverdeC” program — aiming to protect vulnerable water basins — has resulted in planting of 1.5 million trees over 4,452 hectares.