Grupo Energía Bogotá S.A. (GEB) Q4 2024 earnings summary

Executive summary

• Achieved resilient operational and financial performance in 2024, with revenues of COP 8 trillion, adjusted EBITDA of COP 5.1 trillion ($1.3 billion), and net profit of COP 2.6 trillion, despite regulatory, climatic, and market challenges.

• Distributed COP 2.3 trillion in dividends to over 14,000 shareholders and received global sustainability recognitions, including S&P Global Sustainability Yearbook and Dow Jones Best-in-Class Emerging Markets Index.

• Advanced strategic projects in Colombia, Peru, Brazil, and Guatemala, focusing on energy transmission, gas distribution, and infrastructure modernization.

• Strategic debt management reinforced financial stability and investment capacity.

• Focused on sustainable growth and emerging opportunities in current segments and regions.

Financial highlights

• Revenues reached COP 8 trillion for 2024; adjusted EBITDA was COP 5.1 trillion, with controlled companies contributing over 70%.

• Net profit for the year was COP 2.6 trillion; Q4 operational revenue grew 3.6% year-over-year, driven by energy transmission and gas transportation.

• Adjusted EBITDA for Q4 2024 was COP 900 billion, up 11.6% year-over-year; annual adjusted EBITDA decreased 1.97% from 2023.

• Net financial expenses decreased by 10% year-over-year due to lower interest rates and bond repayments.

• Equity method income grew 14% to COP 2 trillion, mainly from Enel Colombia, ISA Peru, and Argo Energia.

Outlook and guidance

• 2025 guidance: net income between COP 2.6–2.7 trillion, adjusted EBITDA between COP 5.4–5.5 trillion, ROA 9.5–10.5%, ROE 13–14.2%.

• Planned organic CapEx of nearly $500 million, with 50% allocated to energy transmission, mainly in Colombia.

• Five-year CAPEX projection is USD 1.3B, with 49% allocated to Colombia Transmission, followed by TGI and Cálidda.

• Strategic focus on cost efficiency, technology, regulatory management, and selective inorganic growth, especially in Brazil transmission.