Terpel’s First-Half 2026 Sales Reach US$6.4 Billion as Profit Jumps 25%

Colombia's leading fuel distributor, Terpel, reported impressive results for the first half of 2026. The company's total sales amounted to US$6.38 billion, marking a modest 5.9% increase from the same period in 2025. However, its profit surged by a more substantial 25.4%, reaching US$131 million. Operating profit also rose by 25.7%, reaching US$254 million, while gross profit reached US$643 million. Despite slow sales growth, Terpel managed to control costs effectively.

The company's fuel and lubricant volumes grew by 2%, with aviation fuel sales increasing by 1.3%. Convenience stores were the standout performer for Terpel, with sales rising by 6% in pesos, driven by in-house brands such as Altoque and Va&ven. Natural gas for vehicles also outperformed expectations, reaching 104% of the target volume, and improving margins while reducing running costs.

Nonetheless, Terpel faced challenges in the industrial sector, as lower-value clients were reduced in Ecuador. The company's dominance in the Colombian market is evident, with Terpel supplying fuel to 42.6% of service stations, compared to Primax's 21.4% share. Terpel's market presence extends across Latin America, with it controlling 85.7% of the market among the top five distributors.

In a strategic shift, Terpel is selling its Ecuador network of approximately 110 service stations to Primax, marking a departure from its previous presence in the region. The parent company, Terpel, remains under the control of Empresas Copec, the fuel subsidiary of Chile’s Angelini Group, which has owned the company since 2010.