Empresas Lipigas (LIPIGAS) Q1 2025 earnings summary

Executive summary

• Q1 2025 consolidated EBITDA reached CLP 33,390 MM, up 14.6% YoY; net income was CLP 12,350 MM, up 30.7%.

• Gas sales volume increased 3.6% YoY to 199,635 equivalent tonnes, with higher LPG volumes in Chile and Colombia and natural gas volumes in Chile and Peru.

• LTM EBITDA was CLP 159,559 MM, up 17.5% YoY; LTM equivalent sales volume totaled 900k tonnes, up 0.8%.

Financial highlights

• Revenue rose 13.1% to CLP 209,138 MM; gross profit increased 8.6% to CLP 63,168 MM, and operating income rose 20.3% to CLP 19,429 MM.

• Profit attributable to controlling owners was CLP 12,075 MM, up 29.8%; depreciation and amortization totaled CLP 13,961 MM, up 7.6%.

• LTM operating income was CLP 105,017 MM, up 23.7%; LTM net income was CLP 65,951 MM, up 40.9%.

• The non-operating result improved CLP 553 MM YoY to a loss of CLP 1,699 MM, reflecting guarantee-liability gains, non-operating sales, FX and equity-accounted gains, partly offset by lower interest income.

Outlook and guidance

• 2030 ambitions include leading Latin America in biogas commercialization, making Chilean plant operations carbon neutral, generating 25% of EBITDA outside Chile and 10% from businesses beyond gas.

• Ñuble’s first Latin American BioLNG plant was 70% complete, with planned processing capacity of 7,500 m³ of biogas per day; BioLNG commercialization was expected to begin in 2025.

• New LNG service stations in Chile and Peru and Chile’s first BioLNG production project were planned for launch in H2 2025.