BOGOTÁ, Feb. 23, 2021 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) reported today the financial results of the Ecopetrol Group for the fourth quarter and the cumulative results for 2020, prepared in accordance with the International Financial Reporting Standards applicable to Colombia.
Table 1: Financial Summary Income Statement - Ecopetrol Group |
Billion (COP) | 4Q 2020 | 4Q 2019 | ∆ ($) | ∆ (%) | 12M 2020 | 12M 2019 | ∆ ($) | ∆ (%) | ||
Total sales | 14,190 | 18,581 | (4,391) | (23.6%) | 50,027 | 70,847 | (20,820) | (29.4%) | ||
Depreciation and amortization | 2,300 | 2,101 | 199 | 9.5% | 8,985 | 8,290 | 695 | 8.4% | ||
Variable cost | 5,536 | 7,547 | (2,011) | (26.6%) | 19,840 | 27,176 | (7,336) | (27.0%) | ||
Fixed cost | 2,471 | 2,622 | (151) | (5.8%) | 8,728 | 9,492 | (764) | (8.0%) | ||
Cost of sales | 10,307 | 12,270 | (1,963) | (16.0%) | 37,553 | 44,958 | (7,405) | (16.5%) | ||
Gross income | 3,883 | 6,311 | (2,428) | (38.5%) | 12,474 | 25,889 | (13,415) | (51.8%) | ||
Operating and exploratory expenses | 2,459 | 771 | 1,688 | 218.9% | 4,841 | 3,726 | 1,115 | 29.9% | ||
Operating income | 1,424 | 5,540 | (4,116) | (74.3%) | 7,633 | 22,163 | (14,530) | (65.6%) | ||
Financial income (loss), net | (260) | (245) | (15) | 6.1% | (2,481) | (1,670) | (811) | 48.6% | ||
Share of profit of companies | (4) | 65 | (69) | (106.2%) | 88 | 354 | (266) | (75.1%) | ||
Income before income tax | 1,160 | 5,360 | (4,200) | (78.4%) | 5,240 | 20,847 | (15,607) | (74.9%) | ||
Income tax | (659) | 247 | (906) | (366.8%) | (1,868) | (5,067) | 3,199 | (63.1%) | ||
Net income consolidated before impairment | 501 | 5,607 | (5,106) | (91.1%) | 3,372 | 15,780 | (12,408) | (78.6%) | ||
Non-controlling interest | (241) | (318) | 77 | (24.2%) | (1,154) | (1,251) | 97 | (7.8%) | ||
Net income attributable to owners of Ecopetrol before impairment | 260 | 5,289 | (5,029) | (95.1%) |
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