Promigas S.A. E.S.P. and Subsidiaries
Condensed Consolidated Interim Financial Statements For the Quarter Ended March 31, 2021
With Independent Auditor's Review Report
1
Promigas S.A. E.S.P. And Subsidiaries
CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION
(In thousands of Colombian Pesos)
ASSETS | Note | March | December | |||
2021 | 2020 | |||||
CURRENT ASSET: | ||||||
Cash and cash equivalents | 5 | $ | 446.344.814 | 420.470.760 | ||
Financial assets at fair value | 6 | 321.241.574 | 378.807.179 | |||
Financial assets at amortized cost | 7 | 1.264.659.921 | 1.103.769.731 | |||
Inventories | 8 | 98.274.231 | 90.549.823 | |||
Prepayments or tax credit balances | 15 | 18.872.314 | 21.163.843 | |||
Other assets | 9 | 180.677.529 | 197.421.865 | |||
TOTAL CURRENT ASSET | 2.330.070.383 | 2.212.183.201 | ||||
Non current held-for-sale assets | 1.069.607 | 1.069.607 | ||||
TOTAL CURRENT ASSET HELD-FOR-SALE | 2.331.139.990 | 2.213.252.808 | ||||
LONG-TERM ASSETS: | ||||||
Financial assets at fair value | 6 | 3.058.432.256 | 2.976.510.036 | |||
Financial assets at amortized cost | 7 | 1.697.224.261 | 1.600.765.439 | |||
Investment in associates | 10 | 709.482.507 | 759.989.369 | |||
Proprty, Plant, Pipeline and Equipment | 11 | 1.261.161.602 | 1.239.625.851 | |||
Intangible Assets: | 3.977.867.199 | 3.835.408.575 | ||||
Concessions | 12 | |||||
Goodwill | 153.402.039 | 151.757.293 | ||||
Other intangible assets | 13 | 99.128.707 | 98.577.298 | |||
Total intangible assets | 4.230.397.945 | 4.085.743.166 | ||||
Right-of-use | 14 | 135.756.055 | 136.611.276 | |||
Investment properties | 8.178.461 | 8.177.931 | ||||
Deferred tax assets, net | 15 | 60.136.283 | 60.225.121 | |||
Other assets | 9 | 104.199.218 | 89.002.877 | |||
TOTAL LONG-TERM ASSETS | 11.264.968.588 | 10.956.651.066 | ||||
TOTAL ASSETS | $ | 13.596.108.578 | 13.169.903.874 | |||
LIABILITIES | ||||||
CURRENT LIABILITY: | ||||||
Financial obligations | 16 | $ | 384.265.406 | 353.793.678 | ||
Outstanding bonds | 17 | 172.044.520 | 29.775.925 | |||
Accounts payable | 18 | 1.003.263.616 | 578.728.089 | |||
Employee benefits | 19 | 22.841.082 | 22.716.562 | |||
Income tax payable | 87.203.149 | 63.691.046 | ||||
Other liabilities | 20 | 129.043.150 | 148.247.385 | |||
TOTAL CURRENT LIABILITIES | 1.798.660.923 | 1.196.952.685 | ||||
LONG-TERM LIABILITIES: | ||||||
Financial obligations | 16 | 1.890.679.695 | 1.870.376.781 | |||
Outstanding bonds | 17 | 4.533.355.517 | 4.521.253.738 | |||
Accounts payable | 18 | 27.717.432 | 27.528.971 | |||
Employee benefits | 19 | 4.507.974 | 4.651.292 | |||
Provisions | 21 | 288.614.936 | 282.006.051 | |||
Deferred tax liability, net | 15 | 720.137.408 | 700.397.289 | |||
TOTAL PASIVO A LARGO PLAZO | 7.465.012.962 | 7.406.214.122 | ||||
TOTAL PASIVOS | 9.263.673.885 | 8.603.166.807 | ||||
EQUITY | ||||||
SHAREHOLDERS' EQUITY | 22 | 113.491.861 | 113.491.861 | |||
Subscribed and paid-in capital | ||||||
Share underwriting premium | 322.822.817 | 322.822.817 | ||||
Reserves | 1.104.531.324 | 919.938.627 | ||||
Retained earnings | 2.361.824.426 | 2.799.754.081 | ||||
Other equity transactions | (11.556.845) | (11.556.845) | ||||
Otro resultado integral | 193.360.671 | 163.229.800 | ||||
TOTAL SHAREHOLDERS' EQUITY | 4.084.474.254 | 4.307.680.341 | ||||
NON-CONTROLLING INTEREST | 23 | 247.960.439 | 259.056.726 | |||
TOTAL EQUITY | 4.332.434.693 | 4.566.737.067 | ||||
TOTAL LIABILITIES AND EQUITY | $ | 13.596.108.578 | 13.169.903.874 |
The notes attached hereto are an integral part of the condensed consolidated interim financial statements.
______________________________ | ______________________________ | ________________________________ |
Aquiles Mercado González | John Jairo Rodriguez Benavides | Rosangela Barrios Pantoja |
Alternate Legal Representative | Public Accountant | Independent Auditor |
Professional License No.11628-T | Professional License No. 155173-T | |
Member of KPMG S.A.S. | ||
(See my report of May 14, 2021) |
2
Promigas S.A. E.S.P. And Subsidiaries
CONDENSED CONSOLIDATED INTERIM INCOME STATEMENT
(Expressed in thousands of Colombian pesos, except the net income per share which is expressed in Colombian pesos)
Note | March | March | |
2021 | 2020 | ||
Revenues from ordinary activities | $ | 1.007.480.243 | 1.022.218.835 |
Revenues from concession contracts | 106.460.657 | 180.127.511 | |
GROSS INCOME | 24 | 1.113.940.900 | 1.202.346.346 |
Cost of Sales | (642.733.584) | (647.595.203) | |
Cost of construction of concession contracts | (67.234.403) | (172.648.088) | |
Total Cost of Sales | 25 | (709.967.987) | (820.243.291) |
UTILIDAD BRUTA | 403.972.913 | 382.103.055 | |
Administrative and sales expenses | 26 | (87.283.676) | (92.024.254) |
Interest in earnings of associates | |||
National Associates | 27.478.770 | 33.818.508 | |
Foreign Associates | 28.498.802 | 31.313.114 | |
Total interest in earnings of associates | 10 | 55.977.572 | 65.131.622 |
Dividends received | 456.146 | 879.728 | |
Others, net | 27 | 15.288.684 | (232.479) |
OPERATING INCOME | 388.411.639 | 355.857.672 | |
Financial revenues | 28 | 90.954.644 | 80.091.700 |
Financial expenses | 29 | (91.948.600) | (91.170.064) |
Exchange difference | (748.547) | (2.067.308) | |
EARNINGS BEFORE INCOME TAX | 386.669.136 | 342.712.000 | |
Income tax | 15 | (101.991.238) | (61.665.516) |
NET INCOME | $ | 284.677.898 | 281.046.484 |
INCOME ATTRIBUTABLE TO: | |||
Accionistas de la compañía | $ | 270.962.838 | 264.277.178 |
Participación no controlada | 23 | 13.715.060 | 16.769.306 |
$ | 284.677.898 | 281.046.484 | |
NET INCOME PER SHARE | $ | 238,77 | 232,87 |
The notes attached hereto are an integral part of the condensed consolidated interim financial statements.
______________________________ | _____________________________ | ________________________________ |
Aquiles Mercado González | John Jairo Rodriguez Benavides | Rosangela Barrios Pantoja |
Alternate Legal Representative | Public Accountant | Independent Auditor |
Professional License No.11628-T | Professional License No. 155173-T | |
Member of KPMG S.A.S. |
3
Promigas S.A. E.S.P. And Subsidiaries
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF OTHER COMPREHENSIVE INCOME (In thousands of Colombian Pesos)
For the period ended on: | |||
March | March | ||
2021 | 2020 | ||
NET INCOME | $ | 284.677.898 | 281.046.484 |
OTHER COMPREHENSIVE INCOME | |||
Other comprehensive income not reclassified through profit or loss | |||
OCI for revaluation of investment properties | 282.628 | 5.321.458 | |
Deferred tax | (28.516) | (532.096) | |
254.112 | 4.789.362 | ||
Other comprehensive income reclassified through profit or loss | |||
Currency conversion adjustment | 43.018.842 | 47.359.076 | |
Hedging transactions | (54.738.772) | (195.434.690) | |
Deferred Tax | 15.487.247 | 58.149.970 | |
3.767.317 | (89.925.644) | ||
OTHER COMPREHENSIVE INCOME IN ASSOCIATES | |||
Other comprehensive income reclassified through profit or loss | |||
Currency conversion adjustment | 32.750.275 | 106.662.484 | |
Hedging transactions | 729.613 | 1.742.620 | |
33.479.888 | 108.405.104 | ||
TOTAL INCOME | 37.501.317 | 23.268.822 | |
TOTAL RESULTADO Y OTRO RESULTADO INTEGRAL DEL PERIODO | $ | 322.179.215 | 304.315.306 |
INCOME AND OTHER COMPREHENSIVE INCOME ATTRIBUTABLE TO: | |||
Company shareholders | $ | 301.093.710 | 269.437.168 |
Non-controlling interest | 21.085.505 | 34.878.138 | |
$ | 322.179.215 | 304.315.306 |
The notes attached hereto are an integral part of the condensed consolidated interim financial statements.
______________________________ | ______________________________ | ________________________________ |
Aquiles Mercado González | John Jairo Rodriguez Benavides | Rosangela Barrios Pantoja |
Alternate Legal Representative | Public Accountant | Independent Auditor |
Professional License No.11628-T | Professional License No. 155173-T | |
Member of KPMG S.A.S. | ||
(See my report of May 14, 2021) |
4
Promigas S.A. E.S.P. And Subsidiaries
CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN EQUITY (Expressed in thousands of Colombian pesos)
Share | Cumula ve Results | Other | Total Equity | Non- | |||||||||||||||||||||||||||||||||||||||||||||
For the period ended on: | |||||||||||||||||||||||||||||||||||||||||||||||||
Subscribed and | underwriting | Previuos Year | First-time | Other equity | Comprehensive | attributable to the | controlling | ||||||||||||||||||||||||||||||||||||||||||
Note | paid-in capital | premium | Reserves | Results | Net income | adoption effect | Total | transactions | Income | company's | interests | Total Equity | |||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2019 | $ | 113.491.861 | 322.822.817 | 713.490.402 | (1.570.706) | 811.347.450 | 1.505.786.626 | 2.315.563.370 | (11.556.485) | 139.284.021 | 3.593.095.986 | 241.273.930 | 3.834.369.916 | ||||||||||||||||||||||||||||||||||||
Creation of reserves | 22 | - | - | 206.448.225 | (206.448.225) | - | - | (206.448.225) | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||
Declared cash dividends | 22 | - | - | - | (440.321.041) | - | - | (440.321.041) | - | - | (440.321.041) | (33.640.202) | (473.961.243) | ||||||||||||||||||||||||||||||||||||
Transfers | 22 | - | - | - | 811.347.450 | (811.347.450) | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||
Income and other comprehensive income | - | - | - | - | 264.277.178 | - | 264.277.178 | - | 5.159.990 | 269.437.168 | 34.878.138 | 304.315.306 | |||||||||||||||||||||||||||||||||||||
Balance as of March 31, 2020 | 113.491.861 | 322.822.817 | 919.938.627 | 163.007.478 | 264.277.178 | 1.505.786.626 | 1.933.071.282 | (11.556.485) | 144.444.011 | 3.422.212.113 | 242.511.866 | 3.664.723.979 | |||||||||||||||||||||||||||||||||||||
Balance 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 | 22 | - | - | 184.592.697 | (184.592.697) | - | - | (184.592.697) | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||
Declared cash dividends | 22 | - | - | - | (524.299.796) | - | - | (524.299.796) | - | - | (524.299.796) | (32.181.792) | (556.481.588) | ||||||||||||||||||||||||||||||||||||
Transfers | 22 | - | - | - | 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 | |||||||||||||||||||||||||||||||||||||
Balance 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 |
The notes attached hereto are an integral part of the condensed consolidated interim financial statements.
______________________________ | ______________________________ | ______________________________________ |
Aquiles Mercado González | John Jairo Rodriguez Benavides | Rosangela Barrios Pantoja |
Alternate Legal Representative | Public Accountant | Independent Auditor |
Professional License No. 155173-T | ||
Member of KPMG S.A.S. | ||
(See my report of May 14, 2021) |
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Promigas SA ESP published this content on 21 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 July 2021 21:40:35 UTC.