Ecopetrol Reports Strong 4Q:22 Results [PDF Downloads]

(Ecopetrol, 28.Feb.2023) — During 2022, the Ecopetrol Group continued delivering record operating and financial results and above the targets set at the beginning of the year. This, together with environmental, social and governance actions consistent with best industry practices and standards, and in line with our commitment to generate sustainable value society and our shareholders.

The above occurred within a reliable and safe operation that covers all Ecopetrol Group contractors and employees, which is reflected in a low accident rate, with a TRIF (Total Recordable Incidents Frequency) of 0.33, the lowest in Ecopetrol’s history, placing us as an international reference.

Full year 2022 reported revenues of COP 159.5tn, a net income of COP 33.4tn, an EBITDA of COP 75.2tn, and an EBITDA margin of 47.2%. Furthermore, the gross debt/EBITDA ratio was 1.5 times and the return on capital employed (ROACE) was 18.8%. Investments for 2022 totaled USD 5,488mn (COP 23.4tn), figure that falls in the top of the range set for the year (USD 4.8 – 5.8bn or COP 20.4 – 24.7tn) and reflects an increase of 26.1% versus 2021.

Our contribution to the country was outstanding: in 2022 around COP 42.4tn were provided to the Republic of Colombia in the form of dividends, royalties, and taxes, compared to COP 16.8tn in 2021. Likewise, COP 2.1tn were delivered to our minority shareholders.

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