Empresas Lipigas S.A. announced its consolidated financial results for the period ended June 30, 2020.
Highlights last six months:
- Income after taxes decreases by 25.7% due to lower sales volume, greater operating expenses and greater non-operating losses
- EBITDA reached CLP 42,182 million, 8.5% lower than the previous year (CLP 46,124 million).
- Consolidated LPG sales volume decreases by 4.6% impacted by lower sales during the second quarter.
- Consolidated sales volume in equivalent LPG tons (including sales of network natural gas, compressed natural gas and liquefied natural gas) decreases by 5.5%.
Highlights 2Q 2020:
- Income after taxes decreases by 26.8% due to lower sales volume and greater operating expenses.
- EBITDA reached CLP 22,958 million, 19.0% lower than the same period of the previous year (CLP 28,353 million).
- Consolidated LPG sales volume decreases by 10.2% because of the effects of the crisis originated by the COVID-19 pandemic.
- Consolidated sales volume in equivalent LPG tons (including sales of network natural gas, compressed natural gas and liquefied natural gas) decreases by 10.7%.
About these the general manager of Empresas Lipigas S.A, Ángel Mafucci said: “We closed a first semester with results that have been temporarily impacted by the effects of the COVID-19 pandemic in the country and around the world. Our priority during these difficult months has been to protect the health and safety of our workers, our clients and our extensive network of collaborators and contractors while maintaining our operations working as an essential service. Despite the difficulties, we have been able to overcome the inconveniences that have been presented and ensure a continuous supply of gas in all the markets where we are present while taking care of the wellbeing of people.
Although consumption of residential gas remained stable during the period, our results were affected by restrictions imposed on other client segments such as commercial clients and industries that had to suspend their operations due to quarantines. This is how sales volume for the second quarter was 10.7% lower than the previous year, while EBITDA during the first semester was 8.5% lower”.
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