Promigas S.A. E.S.P. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023
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Promigas S.A. E.S.P. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was COP 1,500,831.63 million compared to COP 1,422,615.41 million a year ago. Revenue was COP 1,647,963.36 million compared to COP 1,530,390.98 million a year ago. Net income was COP 250,579.13 million compared to COP 294,866.9 million a year ago. Basic earnings per share from continuing operations was COP 220.8 compared to COP 259.83 a year ago.
For the nine months, sales was COP 4,261,425.69 million compared to COP 4,099,228.29 million a year ago. Revenue was COP 4,710,872.6 million compared to COP 4,397,119.51 million a year ago. Net income was COP 753,343.12 million compared to COP 954,015.28 million a year ago. Basic earnings per share from continuing operations was COP 663.83 compared to COP 840.65 a year ago.
Promigas SA ESP (Promigas) is a Colombia-based company primarily engaged in the natural gas utilities sector. Together with its subsidiaries, the Company is active in the purchase, sale, transmission and distribution of natural gas. The Companyâs activities also include the design, construction and maintenance of natural gas transmission and distribution infrastructure. In addition, through Promigas Telecomunicaciones SA (Promitel), the Company is involved in the telecommunications sector, and through Compania Energetica de Occidente SAS ESP, it is engaged in the electrical power distribution sector. Furthermore, It provides personal loans within the Brilla program. The Company owns such subsidiaries as Surtidora de Gas del Caribe SA ESP, Gases de Boyaca y Santander, Gases de Occidente SA ESP and Transoccidente SA ESP, among others. In December, 2013, the Company acquired, through its subsidiary Promisol SAS, a 100% stake in Enerfranca SA ESP and 99.6% stake in Zonagen SA.
PROMIGAS S.A. E.S.P. 
