Medellín Utility Net Profit Rises 16%
Medellín's utility group reported nine-month net profit of about US$1.0 billion, up 16%, on revenue of US$9.1 billion, while operating earnings fell. The post Medellín Utility Net Profit Rises 16% appeared first on The Rio Times .
Grupo EPM, the power, water and gas utility owned by Medellín city, reported a 16% increase in net profit to approximately US$1.0 billion for the nine months to September 2026. Revenue grew 4% to about US$9.1 billion during the period. EBITDA and operating profit, both down from the previous year, contributed to the decline in net profit despite the overall increase.
The rise in net profit came from financial management and non-operating items, according to EPM. The company faced challenges such as El Niño reducing hydropower output, a harmful algal bloom off Chile, and heavy rain in the Chilean Altiplano, which increased operating costs. EPM's debt is 3.57 times EBITDA and 4.31 times for the parent company, EPM.
The utility sold US$1 billion of dollar bonds on November 5, its first international bond sale in six years, with investors showing strong demand. Debt service coverage ratio stood at 2.69 for the group and 2.22 for EPM. The company scheduled a webcast for November 25 at 9:00 a.m. Bogotá and New York time to discuss the results.
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