[ad_1]
Between January and March of this year, the income of Celsia, the Argos Group’s energy subsidiary, totaled 928,393 million pesos, higher than the 861,239 million reported in the same months of 2019.
When delivering the financial results for the first quarter of the year, the company indicated that its profits totaled 86,753 million pesos, observing an increase compared to 53,527 million in the same period last year (see graph).
Although the data was presented at the end of the day on the Colombian Stock Exchange (BVC), these were not reflected in the negotiations that the company’s action had yesterday. However, so far this year, Celsia’s title accumulates a devaluation of 5.32%, since it closed 2019 with a price of 4,410 pesos and opens today at 4,175, that is, it has lost 235 pesos.
In the report published by the Financial Superintendency, Celsia specified that Colombia’s revenues represented 84% of the consolidated total and Central America 16%.
“Revenues from retail marketing in the quarter increased 66.5% compared to the previous year, driven by the assets that were incorporated in the department of Tolima, (162,494 million pesos more),” the report read. .
The data was below the forecasts prepared by the economic researchers of the Bancolombia Group, who anticipated that the company would add revenues of 954,210 million pesos.
In turn, analysts at Davivienda Corredores had mentioned that Celsia’s quarterly results would be driven by the consolidation of Tolima’s assets.
Faced with net profits, it had been indicated that it would be benefited by the reduction in financial expenses, as a result of the decrease in debt after the sale of the Zona Franca Celsia, in Barranquilla.
Regarding the conjuncture derived from the pandemic, the company through its Comprehensive Risk Management System (SGIR) has been permanently carrying out the identification, analysis and assessment of risks, evaluating potential impacts and establishing preventive measures and of containment in its affectation.
It is worth noting that this company has operating companies in the country (Celsia Colombia, Celsia Tolima and Cetsa) and in Central America, where it has continued its activities (see Parentheses).
[ad_2]
