Highlights 1Q 2020:
- Income after taxes decreases by 23.6% due to greater non-operating losses
- EBITDA reached CLP 19,224 million, 8.2% higher than the same period of the previous year (CLP 17,770 million).
- Consolidated LPG sales volume increases by 2.4%.
- Consolidated sales volume in equivalent LPG tons (including sales of network natural gas, compressed natural gas and liquefied natural gas) increases by 0.9%.
About these the general manager of Empresas Lipigas S.A, Ángel Mafucci said
“Due to the impact of an increase in negative non-operating income, income after taxes for the first quarter in Lipigas decreased by 23.6% compared to the previous year. However, in terms of operating income, the comparison is positive at 6.9%. As for EBITDA, we closed the quarter with an increase of 8.2%.
Although our results were affected in March due to the health crisis caused by COVID-19, Chile and Colombia managed to increase their EBITDA. By contrast, in Peru, where pandemic restrictions have been more severe, the results were lower than in 2019.
In Chile, LPG sales increased 2% and EBITDA grew 3.1%. We have continued boosting the direct arrival to end customers with the support of digital tools that allow us to set up closer relationships with them and provide them better service. These tools have also proven to be particularly valuable at a time when logistics become more challenging, such as the one we live in today due to coronavirus.
The business in Colombia has consolidated its performance level with the acquisitions we made in recent years. Sales volume increased 13% and margin improvements have been achieved, allowing for an EBITDA increase of 69.5%.
At the same time, Peru recorded lower EBITDA of 34%. Restrictions from the sanitary crisis were tougher than in the other operations and affected not only the commercial segment, but also the vehicle and industrial segments. In this context, LPG sales decreased by 2.8% and natural gas sales decreased by 10.4%.”
Review full Press Release HERE