PROMIGAS S.A. E.S.P. PROMIGAS
RESULTS
3Q 2022
DISCLAIMER
Promigas S.A., E. S. P. ("Promigas") is a Colombian securities issuer listed in the National Registry of Securities and Issuers. As such, it is required to comply with applicable Colombian securities regulations. It has additionally made commitments as an issuer with IR recognition from BVC, and has adopted high standards of corporate governance, risk management and criteria to identify, manage and disclose conflicts of interest, which also apply to its related companies.
Promigas is primarily governed by Law 142/1994, which establishes the Regime for Household Utility Services; CREG Resolution 071/1999, which establishes the Unified Transportation Regulation of Natural Gas (RUT, for the Spanish original) in Colombia, including their amendments; regulations of the sector; current concession contracts; the company bylaws and other provisions contained in the Code of Commerce.
The Separate Financial Statements have been prepared in accordance with Colombia's Generally Accepted Accounting and Financial Reporting Standards (NCIF, for the Spanish original), as set out in Law 1314/2009, regulated by Single Regulatory Decree 2420/2015, and as amended by Decrees 2496/2015, 2131/2016, 2170/2017, 2483/2018, 2270/2019,1432/2020 and 938/2021. The applicable NCIF's in 2021 are based on the International Financial Reporting Standards (IFRS), including their interpretations, issued by the International Accounting Standards Board (IASB). The underlying standards are the Spanish translations officially issued by the IASB in the second half of 2020. The Company used the option allowed by Decree 1311/October 20, 2021, of recognizing in retained earnings under equity, and only for the 2021 period, the change in deferred income tax arising from the increase in the income tax rate established in Social Investment Law 2155.
These Separate Financial Statements were prepared in compliance with the legal provisions that apply to the Company as an independent legal entity, and they do not include the adjustments and eliminations required for the presentation of the consolidated financial position and the consolidated comprehensive income of the Company and its subsidiaries. Consequently, the Separate Financial Statements must be read in combination with the Consolidated Financial Statements of Promigas S.A. E.S.P. and its subsidiaries. For legal effects in Colombia, the principal financial statements are the Separate Financial Statements.
This report may include forward-looking statements. In some cases, such forward- looking statements will be indicated by using terms such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," "continue," or their antonyms, and comparable terms. The results may differ materially from those included in this report due to changes in the current circumstances in general, in the economic and business conditions, in the interest and exchange rates, and other risks described from time to time in our filings with the National Registry of Securities and Issuers.
The users of this document are responsible for the assessment and use of the information provided herein. The matters described in this presentation and our understanding thereof may change substantially and materially over time; however, we expressly declare that we will not be under any obligation of revising, updating or correcting the information provided in this report, including the forward-looking statements, and we do not intend to provide any updates on such material events before the next results report.
The contents and figures of this document are intended to provide a summary of the topics described, rather than a detailed description.
RELEVANT FACTS 3Q 2022
Accumulated consolidated results as of September
EBITDA: | COP 1,775,732 MM | 20% Accum-2021 - Accum-2022 |
Net Income: | COP 954,015 MM | 14% Accum-2021 - Accum-2022 |
Accumulated single results as of September
EBITDA: | COP 1,199,747 MM | 15% Accum-2021 - Accum-2022 |
Net Income: | COP 954,789 MM | 7% Accum-2021 - Accum-2022 |
Natural gas distribution
Commissioning of Commercial Operation (POC) was declared at Gasnorp in September, which represents the formal start-up of the operation at Piura.
Award - Hydrogen projects
Award for the best green hydrogen production project in Latin America, in recognition for our ongoing efforts to build a future of sustainable energy through innovation.
Regulatory aspects - Peru
Cálidda: OSIMERGMIN published Resolution 138-2022, establishing the new mean distribution rate (Dm) for the 2022- 2026 rate period.
First corporate meeting of Boards of Directors
+16 Boards of Directors of the group met to share experiences and best practices.
Credit ratings ratified in the period
Fitch Ratings ratified the ratings of Promigas at AAA local and BBB- international, both with stable outlook.
Natural Gas Sector Report - Colombia and Peru
23rd Colombian Sector Report and 7th Peruvian Sector Report: Ratifying its contribution to the industry with a complete, objective and impartial statistical report.
Natural gas transmission
Increase in transported volumes due to higher industrial consumption at the Barrancabermeja refinery, after the signing of a new interruptible contract for 2 Mcfd and the entry of the Pepsico plant serviced by Enel in Antioquia.
We continue to develop our energy solutions program, achieving the following results as of the reporting date:
Total capacity: 47.2 MW | O&M: 42 MW |
87% 3Q-2021 - 3Q-2022
Solar: 31.9 MW
Auto/co-generation: 15.3 MW
OPERATIONAL RESULTS OF THE PERIOD BY BUSINESS
Accumulated to September 2022
GAS TRANSMISSION, LNG AND SERVICES
NATURAL
GAS
LNG
INDUSTRY SOLUTIONS
Gas pipeline
Network
3,288 KM
0%
Regasification capacity
400 MMCFD
0%
Gas treatment capacity
35 MMCFD
0%
Transportation Volume
Capacitytransported
1,153 MMCFD | 475 MMCFD | |||
0% | 8% | |||
Regasified | Days | |||
volume | regasified | |||
926 MMCFD | 36 | |||
-46% | -25% | |||
Gas pipeline | Gas pipeline | |||
construction | maintenance | |||
21 KM | 2,752 KM | |||
0% |
Contracted capacity
856 MMCFD
0%
Average regasification
26 MMCFD
-28%
Variations ( ) correspond to 2022 vs 2021 M:M Millions
OPERATIONAL RESULTS OF THE PERIOD BY BUSINESS
Accumulated September 2022
NATURAL
GAS
ELECTRIC
POWER
GAS AND ELECTRIC POWER
DISTRIBUTION
Colombia | Peru | Total | |
Users | 4.10 MM | 1.70 MM | 5.8 MM |
4% | 23% | 9% | |
Districts | 898 | 67 | 965 |
covered | 1% | 12% | 2% |
Network | 51,101 KM | 18,986 KM | 70,086 KM |
length | 1% | 13% | 4% |
Gas sales | 3,079 Mm3 | 6,106 Mm3 | 9,185 Mm3 |
7% | 5% | ||
Accumulated users | Losses | Network length | |||
434,780 | 4% | 15.4 % | 28,785 KM | ||
Electric power demand | |||||
25% | -1% | ||||
773 GWh | 4% | ||||
NON-BANK FINANCING
772 K | Portfolio | Placement | ||
Users with Brilla loans | ||||
NON-BANK | $1.58 Bn | $746,777 MM | ||
at 3Q 2022 | ||||
FINANCING 4.9 million | 23% | 4% | ||
Loans granted since the | ||||
start of the program |
ENERGY SOLUTIONS
Contracted capacity | O&M | Energy sales | |||
Operation: 23.5 MW | 42 MW | 32.1 GWh | |||
47.2 MW Construction: 23.7 MW | |||||
ENERGY | Solar: 31.9 MW | Solar: 14.5 GWh | |||
Auto/ | Auto/ | ||||
SOLUTIONS | |||||
co-generation:17.6 GWh | |||||
co-generation:15.3 MW |
Variations ( ) correspond to 2022 vs 2021 MM: Millions
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Promigas SA ESP published this content on 23 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2022 02:34:03 UTC.
