Santiago, Chile, May 16.- Empresas Lipigas S.A. announced its consolidated financial results for the first quarter of 2016, which stand out due to a 33.2% increase in earnings regarding the same period of the previous year.
At the same time, the Company’s EBITDA, equivalent to CLP 15,908 million, increased by 18.3% in the first quarter versus the same period of the previous year.
“These results are mainly due to improved margins generated in the Chilean operation, thanks to the seaborne import of raw material through the Quintero terminal and increased sales volume in the 3 countries where we operate. Beginning February, results from Peru also include the flows generated by the new compressed natural gas (CNG) operation after acquiring and taking control over Neogas. The previous has allowed us to enter the energy matrix in that country with a strongly penetrating fuel,” said Angel Mafucci, General Manager of Lipigas.
Mafucci added that entering the CNG market in Peru is part of the geographic diversification strategy and of product offer of Lipigas. In 2004 the Company began distributing natural gas through residential networks in Calama and since 2014 it expanded the business with the supply of liquefied natural gas (LNG) via trucks to industrial customers. The previous with a 34.6% volume increase over the previous year.