July 12, 2024
Companies

EPM Full-Year 2019 EBITDA Rises 17% Year-on-Year

Medellin-based multinational utilities giant EPM revealed in a March 27 filing with Colombia’s Superfinanciera corporate oversight agency that its full-year 2019 earnings before interest, taxes, depreciation and amortization (EBITDA) rose 17% year-on-year, to COP$6 trillion (US$1.5 billion).

EBITDA margin hit 33% — best in five years, according to EPM.

Out of its 2019 earnings, COP$1.5 trillion (US$376 million) this year will go directly to the city of Medellin — EPM’s sole shareholder.

Gross revenues rose 12% year-on-year, to COP$$18.4 trillion (US$4.6 billion) — 64% of which was generated in Colombia and the remaining 36% in its foreign markets.

Investments in public-service infrastructure during 2019 totaled COP$3.2 trillion (US$803 million), according to the company.

In total, EPM provided utility services to 10.4 million clients in six countries last year, the company added.

Over the last 12 years, EPM’s profit transfers to the city of Medellin total COP$10.9 trillion (US$2.7 billion), enabling investments in public education, welfare, infrastructure, housing, health, security and environmental protection, according to the company.

During 2019, EPM also spent COP$1.5 trillion (US$376 million ) on goods and services, generating more wealth and employment for Colombians, the company noted. What’s more, EPM spent another COP$261 billion (US$65 million) in payments to local communities and for environmental projects.

Capital spending on the US$5 billion, 2.4-gigawatt Hidroituango hydroelectric plant in Antioquia (now more than 75% complete) totaled COP$$1.1 trillion (US$276 million) last year.

Assets grew 5%, to COP$54.9 trillion (US$13.8 billion), while liabilities rose 1%, to COP$30.7 trillion (US$7.7 billion).

Debt to EBITDA ratio improved to 3.49 in 2019 versus 3.86 in 219, while total financial debt dipped to 40% in 2019 versus 41% in 2018 — mainly due to the COP$525 billion (US$132 million) insurance payment received as partial compensation for damages suffered at the Hidroituango hydroelectric project, the company added.

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