Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

Terpel: Earnings Flash 1Q18


May 16, 2018 ( Newswire) Terpel released negative financial results for 1Q18. We highlight the following items:

Source: Terpel, Davivienda Corredores

Incomes stood at COP 4.1 tn (+ 14.6% QoQ and -3.0% YoY) benefited by the recovery of international oil prices and an annual growth of 3.8% in volumes (driven mainly by the performance of Colombia's volumes, + 3.8% YoY). By country, incomes from the Colombian operation showed an annual growth of 14.2%, Panama's incomes 27.8%, Ecuador's income 7.1%, Peru's income 24.5% and Dominican Republic's incomes 4.9%.

EBITDA for the quarter showed an annual decrease of -2.0% and a quarterly growth of 3.4% (COP 158 bn), explained by the 2.0% increase in the Colombian EBITDA (COP 265.7 bn) and the contraction of -12.1% in the Panama's EBITDA. In this sense, EBITDA margin for the quarter stood at 3.8%, in line with our estimates and reaching an expansion of 24 bps in quarterly terms. We emphasize that the recovery of fuel's prices generated a profit by offset of COP 5.3 bn, in Colombia this item in specific was COP 3 bn.

Despite better operating results, net income was affected by COP 55 bn in expenses related to the acquisition of ExxonMobil, if these expenses are excluded, net income would stand at COP 47 bn (+ 2.9% YoY) , as we expected.

Conference Call

Conference call would be held tomorrow at 10:00 a.m. (Colombian time) after which we will send our First Insight with our detailed analysis.

Corredores Davivienda S.A. Comisionista de Bolsa is not responsible for investment decisions that may be derived from the information and analyses presented in this document. These decisions, their effects and consequences will be the sole responsibility of the investor. The information published is informative and has been taken from reliable sources, but Corredores Davivienda S.A. does not guarantee that they are free of errors. Total or partial reproduction of this document is not allowed without the prior and express authorization of Corredores Davivienda S.A.

More Info: Newswire

This news is published on the Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: Learn more about publishing your news release on the newswire

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: Global investors must adhere to regulations of each country.

Please read privacy policy: