Empresas Lipigas (LIPIGAS) Q2 2025 earnings summary

Executive summary

• Q2 2025 EBITDA was CLP 48.7bn, up 10.5% YoY; H1 EBITDA rose 12.1% to CLP 82,097m and net income increased 24.6% to CLP 34,613m.

• Consolidated gas volumes increased 1.8% to 440,564 tonnes equivalent to LPG; 24.7% of H1 EBITDA came from outside Chile.

Financial highlights

• H1 revenue rose 8.0% to CLP 461,030m, supported by higher gas volumes and international petroleum-product prices.

• Operating income increased 14.7% to CLP 53,879m, reflecting stronger gross margins across operating countries and improved expense efficiency relative to margin.

• H1 net income reached CLP 34,613m; higher operating and non-operating results were partly offset by CLP 4,449m in additional income tax expense.

• H1 EBITDA increased CLP 6,838m to CLP 82,097m; depreciation and amortization totaled CLP 28,218m, up 7.5%.

Outlook and guidance

• 2030 targets: 25% of EBITDA from Latin American countries outside Chile and 10% from businesses beyond gas; ambition to lead Latin American biogas marketing and achieve carbon-neutral operations at all Chilean plants.

• Three new LNG fueling stations in Chile and two in Peru, plus Chile’s first BioLNG production project, were scheduled for H2 2025; BioLNG commercialization was planned for 2025.