PROMIGAS S.A. E.S.P. Promigas S.A. E.S.P. and Subsidiaries
Condensed Consolidated Interim Financial Statements For the Quarter Ended March 31, 2022
With Independent Auditor's Review Report
PROMIGAS S.A. E.S.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION (In thousands of Colombian Pesos)
Note | March 31, | December 31, | ||||
ASSETS | 2022 | 2021 | ||||
CURRENT ASSETS: | ||||||
Cash | 4 | $ | 516.101.691 | 427.848.665 | ||
Financial assets at fair value | 5 | 187.129.520 | 241.164.321 | |||
Financial assets at amortized cost | 6 | 1.390.784.894 | 1.201.291.883 | |||
Inventories | 7 | 124.845.793 | 117.695.122 | |||
Advances or credit balances due to taxes | 31.520.617 | 36.531.195 | ||||
Other assets | 8 | 160.440.929 | 166.234.814 | |||
TOTAL CURRENT ASSETS | 2.410.823.444 | 2.190.766.000 | ||||
Non-current assets held for sale | 1.069.613 | 1.429.613 | ||||
TOTAL CURRENT ASSETS AND ASSETS HELD FOR SALE | 2.411.893.057 | 2.192.195.613 | ||||
NON-CURRENT ASSETS | ||||||
Financial assets at fair value | 5 | 3.326.777.358 | 3.246.887.347 | |||
Financial assets at amortized cost | 6 | 1.699.096.830 | 1.783.825.121 | |||
Investments in associates | 9 | 727.847.888 | 878.395.620 | |||
Property, gas pipeline, plant and equipment | 10 | 1.266.212.848 | 1.267.139.852 | |||
Intangible assets: | ||||||
Concessions | 11 | 4.858.102.652 | 4.832.490.325 | |||
Goodwill | 149.478.561 | 150.716.870 | ||||
Other intangible assets | 12 | 113.831.860 | 115.051.948 | |||
Total intangible assets: | 5.121.413.073 | 5.098.259.143 | ||||
Right-of-use assets | 13 | 137.386.910 | 132.879.120 | |||
Investment property | 3 | 9.792.282 | 9.259.620 | |||
Deferred tax assets, net | 14 | 67.067.877 | 66.136.281 | |||
Other assets | 8 | 246.535.783 | 247.393.800 | |||
TOTAL NON-CURRENT ASSETS | 12.602.130.849 | 12.730.175.904 | ||||
TOTAL ASSETS | $ | 15.014.023.906 | 14.922.371.517 | |||
LIABILITIES | ||||||
CURRENT LIABILITIES: | ||||||
Financial obligations | 15 | $ | 456.372.897 | 428.437.053 | ||
Bonds outstanding | 16 | 554.542.936 | 268.827.276 | |||
Accounts payable | 17 | 1.061.321.546 | 601.983.615 | |||
Employee benefits | 18 | 23.753.717 | 22.909.552 | |||
Income tax | 14 | 108.424.742 | 62.492.248 | |||
Provisions | 20 | 49.679.083 | 42.672.697 | |||
Other liabilities | 19 | 162.890.198 | 166.178.472 | |||
TOTAL CURRENT LIABILITIES | 2.416.985.119 | 1.593.500.913 | ||||
NON-CURRENT LIABILITIES: | ||||||
Financial liabilities | 15 | 2.293.837.694 | 2.256.771.906 | |||
Bonds outstanding | 16 | 4.113.195.812 | 4.597.101.390 | |||
Accounts payable | 17 | 22.515.077 | 26.550.092 | |||
Employee benefits | 18 | 3.706.546 | 3.600.580 | |||
Provisions | 20 | 310.172.302 | 309.718.878 | |||
Deferred tax liabilities, net | 14 | 885.839.893 | 869.891.255 | |||
TOTAL NON-CURRENT LIABILITIES | 7.629.267.324 | 8.063.634.101 | ||||
TOTAL LIABILITIES | 10.046.252.443 | 9.657.135.014 | ||||
EQUITY | ||||||
SHAREHOLDERS' EQUITY | ||||||
Subscribed and paid-in capital | 21 | 113.491.861 | 113.491.861 | |||
Issue premium | 322.822.817 | 322.822.817 | ||||
Reserves | 21 | 1.226.467.276 | 1.104.531.324 | |||
Retained earnings | 2.856.164.858 | 3.197.235.580 | ||||
Other equity transactions | (11.554.865) | (11.554.865) | ||||
Other comprehensive income | 203.907.613 | 258.553.530 | ||||
TOTAL SHAREHOLDERS' EQUITY | 4.711.299.560 | 4.985.080.247 | ||||
NON-CONTROLLING INTERESTS | 22 | 256.471.903 | 280.156.256 | |||
TOTAL EQUITY | 4.967.771.463 | 5.265.236.503 | ||||
TOTAL LIABILITIES AND EQUITY | $ | 15.014.023.906 | 14.922.371.517 | |||
The accompanying notes are an integral part of the condensed consolidated interim financial statements.
We, the undersigned legal representative and Certified Public Accountant, certify that we have previously verified the statements contained in these condensed consolidated interim financial statements and that they have been prepared in accordance with information faithfully taken from the accounting books of the parent company and its subsidiaries.
______________________________ | ______________________________ | ________________________________ |
Aquiles Mercado González | John Jairo Rodriguez Benavides | Rosangela Barrios Pantoja |
Legal Representative (alternate) | Public Accountant | Independent Auditor |
Professional License No.11628-T | Professional License No. 155173-T | |
Member of KPMG S.A.S. | ||
(See my report dated May 13, 2022). |
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PROMIGAS S.A. E.S.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATED INTERIM INCOME STATEMENT
(In thousands of Colombian pesos, except for net income per share, which is expressed in Colombian pesos.)
For the quarters ended:
Note | March 31, | March 31, | ||
2022 | 2021 | |||
Revenue | $ | 1.220.294.320 | 1.007.480.243 | |
Revenue from domestic concession agreements | 34.720.611 | 18.957.997 | ||
Revenue from foreign concession agreements | 160.219.576 | 87.502.660 | ||
Total revenue | 23 | 1.415.234.507 | 1.113.940.900 | |
Cost of sales | (746.555.957) | (642.733.584) | ||
Cost of construction of domestic concession agreements | (18.798.805) | (16.092.713) | ||
Cost of construction of foreign concessions agreements | (89.724.373) | (51.141.690) | ||
Total cost of sales | 24 | (855.079.135) | (709.967.987) | |
GROSS PROFIT | 560.155.372 | 403.972.913 | ||
Administrative and selling expenses | 25 | (99.791.535) | (79.997.425) | |
Interest in earnings of associates: | ||||
Domestic associates | 32.037.633 | 27.478.770 | ||
Foreign associates | 44.035.400 | 28.498.802 | ||
Total interest in earnings of associates | 9 | 76.073.033 | 55.977.572 | |
Dividends received | 1.250.450 | 456.146 | ||
Impairment for expected credit losses | 6 | (6.282.469) | (7.286.251) | |
Other, net | 26 | 25.617.087 | 15.288.684 | |
OPERATING INCOME | 557.021.938 | 388.411.639 | ||
Finance income | 27 | 81.925.268 | 90.954.644 | |
Financial expenses | 28 | (122.937.199) | (91.948.600) | |
Foreign exchange difference, net | 29 | (2.104.095) | (748.547) | |
INCOME BEFORE INCOME TAX | 513.905.912 | 386.669.136 | ||
Income tax | 14 | (130.391.932) | (101.991.238) | |
NET INCOME | $ | 383.513.980 | 284.677.898 | |
ATTRIBUTABLE TO: | ||||
Company shareholders | $ | 365.232.695 | 270.962.838 | |
Non-controlling interest | 22 | 18.281.285 | 13.715.060 | |
$ | 383.513.980 | 284.677.898 | ||
NET INCOME PER SHARE | $ | 321,83 | 238,77 | |
The accompanying notes are an integral part of the condensed consolidated interim financial statements. | ||||
We, the undersigned legal representative and Certified Public Accountant, certify that we have previously verified the statements contained in these condensed consolidated interim financial statements and that they have been prepared in accordance with information faithfully taken from the accounting books of the parent company and its subsidiaries.
___________________________________ | _____________________________________ | ____________________________________ |
Aquiles Mercado González | John Jairo Rodriguez Benavides | Rosangela Barrios Pantoja |
Legal Representative (alternate) | Public Accountant | Independent Auditor |
Professional License No.11628-T | Professional License No. 155173-T | |
Member of KPMG S.A.S. | ||
(See my report dated May 13, 2022). |
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PROMIGAS S.A. E.S.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATED INTERIM STATEMENT OF OTHER COMPREHENSIVE INCOME (In thousands of Colombian Pesos)
For the quarters ended: | ||||
Note | Marcg 31, | March 31, | ||
2022 | 2021 | |||
NET INCOME | $ | 383.513.980 | 284.677.898 | |
OTHER COMPREHENSIVE INCOME | ||||
Other comprehensive income that will not be reclassified to profit or loss of the period | ||||
Fair value of equity instruments | 5.981.760 | 282.628 | ||
Deferred tax | 14 | (604.062) | (28.516) | |
5.377.698 | 254.112 | |||
Other comprehensive income to be reclassified to profit or loss for the period | ||||
Currency translation adjustment | (68.033.436) | 43.018.842 | ||
Hedging transactions | 45.391.343 | (54.738.772) | ||
Deferred tax | 14 | (13.387.044) | 15.487.247 | |
(36.029.137) | 3.767.317 | |||
OTHER COMPREHENSIVE INCOME FOR THE PERIOD IN ASSOCIATES | ||||
Other comprehensive income (loss) to be reclassified to profit or loss for the period | ||||
Currency translation adjustment | (32.222.585) | 32.750.275 | ||
Hedging transactions | 963.598 | 729.613 | ||
(31.258.987) | 33.479.888 | |||
TOTAL OTHER COMPREHENSIVE INCOME | (61.910.426) | 37.501.317 | ||
TOTAL INCOME AND OTHER COMPREHENSIVE INCOME | $ | 321.603.554 | 322.179.215 | |
ATTRIBUTABLE TO: | ||||
Company shareholders | $ | 310.586.778 | 301.093.710 | |
Non-controlling interest | 11.016.776 | 21.085.505 | ||
$ | 321.603.554 | 322.179.215 | ||
The accompanying notes are an integral part of the condensed consolidated interim financial statements.
We, the undersigned legal representative and Certified Public Accountant, certify that we have previously verified the statements contained in these condensed consolidated interim financial statements and that they have been prepared in accordance with information faithfully taken from the accounting books of the parent company and its subsidiaries.
______________________________ | ______________________________ |
Aquiles Mercado González | John Jairo Rodriguez Benavides |
Legal Representative (alternate) | Public Accountant |
Professional License No.11628-T |
________________________________
Rosangela Barrios Pantoja
Independent Auditor
Professional License No. 155173-T
Member of KPMG S.A.S.
(See my report dated May 13, 2022).
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PROMIGAS S.A. E.S.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN EQUITY (In thousands of Colombian pesos)
Resultados acumulados
For the quarters ended: | |||||||||||||||||||||||||||||||||||||||||||||||||
Subscribed and | Previuos year | First-time | Other equity | Other comprehensive | Total shareholders' | Non-controlling | |||||||||||||||||||||||||||||||||||||||||||
Note | paid-in capital | Issue premium | Reserves | results | Net income | adoption effect | Total | transactions | income | equity | interests | Total equity | |||||||||||||||||||||||||||||||||||||
Balances as of December 31, 2020 | $ | 113.491.861 | 322.822.817 | 919.938.627 | 156.522.903 | 1.137.444.552 | 1.505.786.626 | 2.799.754.081 | (11.556.845) | 163.229.799 | 4.307.680.340 | 259.056.726 | 4.566.737.066 | ||||||||||||||||||||||||||||||||||||
Creation of reserves | 21 | - | - | 184.592.697 | (184.592.697) | - | - | (184.592.697) | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||
Cash dividends declared | 21 | - | - | - | (524.299.796) | - | - | (524.299.796) | - | - | (524.299.796) | (32.181.792) | (556.481.588) | ||||||||||||||||||||||||||||||||||||
Carryforwards | 21 | - | - | - | 1.137.444.552 | (1.137.444.552) | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||
Income and other comprehensive income | - | - | - | - | 270.962.838 | - | 270.962.838 | - | 30.130.872 | 301.093.710 | 21.085.505 | 322.179.215 | |||||||||||||||||||||||||||||||||||||
Balances as of March 31, 2021 | 113.491.861 | 322.822.817 | 1.104.531.324 | 585.074.962 | 270.962.838 | 1.505.786.626 | 2.361.824.426 | (11.556.845) | 193.360.671 | 4.084.474.254 | 247.960.439 | 4.332.434.693 | |||||||||||||||||||||||||||||||||||||
Balances as of December 31, 2021 | $ | 113.491.861 | 322.822.817 | 1.104.531.324 | 592.316.351 | 1.099.132.603 | 1.505.786.626 | 3.197.235.580 | (11.554.865) | 258.553.530 | 4.985.080.247 | 280.156.256 | 5.265.236.503 | ||||||||||||||||||||||||||||||||||||
Creation of reserves | 21 | - | - | 121.935.952 | (121.935.952) | - | - | (121.935.952) | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||
Cash dividends declared | 21 | - | - | - | (585.581.590) | - | - | (585.581.590) | - | - | (585.581.590) | (34.701.129) | (620.282.719) | ||||||||||||||||||||||||||||||||||||
Dividend withholdings transferred to shareholders | - | - | - | 1.214.125 | - | - | 1.214.125 | - | - | 1.214.125 | - | 1.214.125 | |||||||||||||||||||||||||||||||||||||
Carryforwards | 21 | - | - | - | 1.099.132.603 | (1.099.132.603) | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||
Income and other comprehensive income | - | - | - | - | 365.232.695 | - | 365.232.695 | - | (54.645.917) | 310.586.778 | 11.016.776 | 321.603.554 | |||||||||||||||||||||||||||||||||||||
Balances as of March 31, 2022 | $ | 113.491.861 | 322.822.817 | 1.226.467.276 | 985.145.537 | 365.232.695 | 1.505.786.626 | 2.856.164.858 | (11.554.865) | 203.907.613 | 4.711.299.560 | 256.471.903 | 4.967.771.463 | ||||||||||||||||||||||||||||||||||||
The accompanying notes are an integral part of the condensed consolidated interim financial statements.
We, the undersigned legal representative and Certified Public Accountant, certify that we have previously verified the statements contained in these condensed consolidated interim financial statements and that they have been prepared in accordance with information faithfully taken from the accounting books of the parent company and its subsidiaries.
____________________________________________ | _________________________________________ |
Aquiles Mercado González | John Jairo Rodriguez Benavides |
Legal Representative (alternate) | Public Accountant |
Professional License No.11628-T |
__________________________________________________________
Rosangela Barrios Pantoja
Independent Auditor
Professional License No. 155173-T
Member of KPMG S.A.S.
(See my report dated May 13, 2022).
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Promigas SA ESP published this content on 15 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 June 2022 20:42:06 UTC.
