Colombia's Celsia grows net profit by 43.4% y/y in Q1 2022

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May 6 (Renewables Now) - Colombian power company Celsia earned a consolidated net profit of COP 166 billion (USD 40.6m/EUR 38.5m) in the first quarter of 2022, up 43.4% year-on-year, mainly thanks to the solid performance in the domestic market.

Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 35.2% on the year to COP 455 billion, supported by successful operations of all businesses in Colombia, Celsia said.

Its businesses in Central America brought home EBITDA of COP 37.6 billion, down 20.4%, due to a dry period that impacted hydropower generation and the need to buy more energy at much higher prices, the company explained. EBITDA in Colombia grew by 44.3% to COP 417.2 billion.

Consolidated revenues grew by 33.6% to COP 1.30 trillion, with the bulk of it coming from the home market.

During the first quarter, Celsia generated 1,644 GWh of power, up 17.8%, in consolidated terms. The company's power production figures are presented in the table below:

In GWh: Q1 2022 Q1 2021 y/y change:
Power generation Colombia 1,450 1,223 18.5%
-- hydro 1,419 1,212 17.1%
-- thermal 19 0 --
-- solar 12 11 3.5%
Power generation Central America (Panama, Costa Rica and Honduras) 195 172 13.1%
-- hydro 47 78 -39.9%
-- thermal 59 13 352.9%
-- wind 76 73 3.8%
-- solar 13 8 62.9%

(COP 1,000 = USD 0.244/EUR 0.232)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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