Colombia's Celsia raises net profit by 6.4% y/y in Q3 2022
Celsia PV park. Image by Celsia (www.celsia.com)
November 7 (Renewables Now) - Colombian power company Celsia earned a net profit of COP 111.4 billion (USD 21.7m/EUR 21.7m) in the third quarter of 2022, up by 6.4% year-on-year, it said.
The growth came on the back of higher volumes of energy traded, an increase in power generation, the commercial start-up of new solar and thermal power generation assets and a better performance of the customer products and services portfolio, the group said.
Revenues rose by 33% year-on-year to COP 1.3 trillion. In Colombia, they were driven by higher generation and wholesale activities, better sales due to higher demand and income from new connected power plants. In Central America, revenues grew as a result of a higher hydroelectric output compared to the third quarter a year ago, Celsia said.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) for the period stood at COP 424.2 billion, up 34.1%, for an EBITDA margin of 32.6%.
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