Colombia's Celsia boosts Q1 2021 net profit by 33.4% y/y

Colombian power company Celsia SA closed the first quarter of 2021 with a net profit of COP 115.8 billion (USD 31.4m/EUR 25.9m), up 33.4% year-on-year.

The net profit attributable to controlling shareholders rose by 28.4% to COP 83.5 billion.

Consolidated revenues arrived at COP 980 billion, up 5.6% on the year, driven by contributions from a small hydroelectric plant and two solar farms, which were not in operation in the first quarter of 2020, and higher income from the power generation business and other services, the Medellin-based company said.

Operations in Colombia accounted for 87.5% of revenues, while 12.5% came from Central America. Celsia does business in Panama, Costa Rica and Honduras.

Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) reached COP 336 billion, a 1.7% increase.

In January through March, Celsia produced 1,396 GWh of power, up 17.5% year-on-year. Only 0.9% of this was generated by thermal power plants, while the remaining 99.08% of the output comes from hydro, wind and solar.

The volume of sold energy decreased by 4.5% to 1,687 GWh.

(COP 1,000 = USD 0.271/EUR 0.223)

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