PROMIGAS
RESULTS
2Q 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
2Q2022
Accumulated consolidated results
EBITDA: COP $1,174,183 MM 19% Acum-2021- Acum-2022
Net income: COP $659,148 MM 10% Acum-2021- Acum-2022
Energy solutions
Total capacity: 42.4 MW O&M: 42 MW
73% 2Q-2021 - 2Q-2022
Solar: 27.1 MW
Auto/co-generation: 15.3 MW
Partnership with Sumitomo Corporation
We signed a memorandum of understanding with one of Japan's top business conglomerates to explore and develop the market for electric mobility with hydrogen in Colombia and Peru.
Regulatory aspects - Peru
OSIMERGMIN approved Cálidda's distribution tariff for the new 2022-2026 tariff period (Resolution 079/2022).
Natural gas distribution
As of June 30, Gases del Norte de Perú reported 90% completion of construction of the Piura Project. Service started up in July.
Investor Day 2022
We held the second edition of the Investor Day in New York, where we presented our first quarter results and our leaders spoke about the achievements, challenges and projects of Promigas and its subsidiaries.
Credit ratings ratified in the period
Fitch Ratings ratified the AAA rating for our subsidiary, Surtigas.
OPERATIONAL RESULTS OF THE PERIOD BY BUSINESS
Accumulated to June 2022
TRANSMISSION OF GAS, LNG AND SERVICES
NATURAL
GAS
LNG
INDUSTRY SOLUTIONS
Gaspipeline | Transportation | Volume | Contracted |
Network | Capacity | transported | capacity |
3,288 KM | 1,153 MMCFD | 472 MMCFD | 867 MMCFD | |||||||
0% | 0% | 7% | 0% | |||||||
Regasification | Regasified | Days | Average | |||||||
capacity | volume | regasified | regasification | |||||||
400 MMCFD | 348 MMCFD | 14 | 25 MMCFD | |||||||
0% | -56% | -39% | -28% | |||||||
Gas pipeline | ||||||||||
Gas treatment | Construction of | |||||||||
capacity | gas pipelines | maintenance | ||||||||
35 MMCFD | 21 KM | 2,756 KM | ||||||||
0% | 0% |
Variations ( ) correspond to 2022 vs 2021 MM: Millions
OPERATIONAL RESULTS OF THE PERIOD BY BUSINESS
Accumulated to June 2022
NATURAL
GAS
ELECTRIC
POWER
DISTRIBUTION OF GAS AND
ELECTRIC POWER
Colombia | Peru | Total | |||||
Users | 4.06 MM | 1.63 MM | 5.69 MM | ||||
4% | 25% | 9% | |||||
Towns | 897 | 66 | 963 | ||||
served | 1% | 12% | 2% | ||||
Network | 50,922 KM | 18,595 KM | 69,517 KM | ||||
laid | 1% | 14% | 4% | ||||
Gas sold | 2,022 Mm3 | 3,967 Mm3 | 5,989 Mm3 | ||||
8% | 3% | 4% | |||||
Accumulated users | Losses | Networks | |||||
430,762 | 3% | 14.5% | laid | ||||
Energy demand | 17% | 28,718 KM | |||||
512 GWh | 7% | 1% | |||||
NON-BANK FINANCING
Users | Portfolio | Placement | |||
NON-BANK | 767 K | $ 1.49 Bn | $483,250 MM | ||
FINANCING | 27% | 6% | |||
ENERGY SOLUTIONS
Installed capacity | O&M | Energy sales | |
42.4 MW | 42 MW | 20.5 GWh | |
ENERGY | Solar: 27.1 MW | Solar: 9.4 GWh | |
Auto/ | Auto/ | ||
SOLUTIONS | |||
co-generation:15.3 MW | co-generation:11.1 GWh |
Variations ( ) correspond to 2022 vs 2021 MM: Millons
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Promigas SA ESP published this content on 24 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2022 05:37:00 UTC.