PROMIGAS S.A. E.S.P.

PROMIGAS
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Promigas S A E S P : Financial statements promigas q1-2021

06/21/2021 | 12:00am

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)

5

Disclaimer

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.

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