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

Image by Celsia (celsia.com)

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%