Empresas Lipigas S.A.announced its results as of the third quarter of 2016, which recorded a 5.4% increase in net income.
Consolidated sales in LPG (liquefied petroleum gas) equivalent tons grew by 16.6%
EBITDA generated in the first 9 months of the year amounted to CLP 61,130 million a similar figure to that of the previous year which amounted to CLP 61,391 million.
Ángel Mafucci, General Manager of Empresas Lipigas said “EBITDA generated in the first 9 months of the year amounted to CLP 61,130 million and was at levels similar to those of the previous year. Consolidated sales volumes of LPG equivalent tons (including our sales of network natural gas, compressed natural gas and liquefied natural gas) increased by 16.6%. The results did not entirely reflect this increase because Colombia and Peru presented lower unit margins and in Chile margin comparisons are affected by the result of LPG imports of 2015 that had been influenced by a favorable situation in the market for maritime freight rates. Ultimately, the operation of our Company continues consolidating and, on the other hand, we are still analyzing opportunities to leverage our strengths and expand our business base.”
Third quarter 2016 results
During the third quarter of this year, Empresas Lipigas increased its sales volume in equivalent LPG tons by 15.5%, representing CLP 114,222 million in consolidated revenue.
In Chile, revenue for the operation during the third quarter amounted to CLP 82,204 million, a 0.8% higher compared to the same period of the previous year, explained by a 3.5% higher sales volume of liquefied gas. Meanwhile sales volume in equivalent LPG tons increased by 4.5%.
Regarding Peru, revenue for the operation amounted to CLP 23,355 million, a 45.2% higher compared to the third quarter of 2015. This resulted from increased sales volume and the incorporation of the compressed natural gas operation. LPG sales volume grew by 10.8%. Sales volume in equivalent LPG tons increased by 61.9% as a result of the incorporation of the compressed natural gas sales volume which was not present during the third quarter of 2015.
Meanwhile, revenue from the operation in Colombia reached CLP 8,663 million, a 6.8% lower than the third quarter of 2015. LPG sales volume grew by 1.1%.