Lipigas increased its EBITDA in the 3 countries where it operates
Empresas Lipigas S.A. announced its consolidated financial results for the third quarter ended September 30, 2019.
Highlights last 9 months:
- EBITDA (excluding the effects of IFRS 16) reached CLP 73,175 million, 13.0% higher than the previous year (CLP 64,759 million).
- Consolidated LPG sales volume increases by 1.5%.
- Consolidated sales volume in equivalent LPG tons (including sales of network natural gas, compressed natural gas and liquefied natural gas) increases by 2.1%.
- Income after taxes (excluding the effects of IFRS 16) increases by 11.3%.
Highlights 3Q 2019:
- EBITDA (excluding the effects of IFRS 16) reached CLP 30,976 million, 22.9% higher than the previous year (CLP 25,197 million).
- Consolidated LPG sales volume increases by 1.6%.
- Consolidated sales volume in equivalent LPG tons (including sales of network natural gas, compressed natural gas and liquefied natural gas) increases by 1.4%.
- Income after taxes (excluding the effects of IFRS 16) increases by 19.6%.
About this, the general manager of Empresas Lipigas S.A said: “For several years we have been pursuing a growth strategy that seeks to be closer to customers and, at the same time, be an increasingly efficient company, contributing to the well-being of people and the sustainable development of industries and businesses.
To meet this goal, we have enhanced Lipigas’ digital transformation and increased direct gas delivery. Today 38% of our bottled gas sales in Chile are made through this channel, which means that we directly reach about 800 thousand customers with clean energy of a total of 2 million that we service. Knowing their needs in depth is a gateway to service them better and better.
We believe that the Company’s results for the third quarter of 2019 are largely due to this vision. We closed a positive third quarter in the three countries where we operate, with an EBITDA growth of 22.3% at September 30, compared to the same period of the previous year. While the Company’s consolidated revenues decreased by 2.5% – mainly due to the decrease in the international price of LPG – we managed to increase EBITDA thanks to our efficiency strategy.
EBITDA in Chile (without considering the effects of IFRS 16) grew 9.2%. In Colombia, it grew 43.3%, associated with higher LPG volumes and the incorporation, since the last quarter of 2018, of the Surgas operation, a network gas distributor. Peru, meanwhile, recorded a 40.6% EBITDA growth.
Consolidated LP sales volume grew by 1.5% in the last nine months and, in addition to natural gas, sales volume in equivalent tons increased by 2.1%. While in Chile’s specific case LPG sales volume decreased slightly in some high-volume industrial customers, due to lower consumption, this was offset by increased sales of bottled gas and the higher proportion of direct sales to end customers.
Gas is and will remain essential for the progressive reduction of highly polluting solid fuels. Our Company will remain committed to supporting commercial and industrial customers seeking to be carbon neutral and to contributing to the environment and health of people with an efficient energy characterized by clean combustion. At the same time, we are participating in the market of electric energy commercialization with customized solutions for industrial and commercial customers, which also allows to optimize energy costs.
We will continue to build a solid, efficient and sustainable company over time, reinforcing our closeness with millions of customers looking for clean and convenient energy solutions in Chile, Colombia and Peru”.
Review full Press Release HERE