Ecopetrol Group announces first quarter 2022 Results – QNT Press Release


BOGOTÁ, Colombia, May 10, 2022 /PRNewswire/ — Ecopetrol SA ((BVC: ECOPETROL, NYSE:EC) announced today the Ecopetrol Group’s financial results for the first quarter of 2022.

Table 1: Financial Summary Income Statement – ​​Ecopetrol Group

Billion (COP)

1Q 2022

1Q 2021

∆ ($)

∆ (%)

Total sales

32,473

17,206

15,267

88.7%

Depreciation and amortization

2,579

2,237

342

15.3%

Variable cost

12,065

6,238

5,827

93.4%

Fixed cost

3,294

2,037

1,257

61.7%

Cost of sales

17,938

10,512

7,426

70.6%

Gross income

14,535

6,694

7,841

117.1%

Operating and exploratory expenses

2,005

1,181

824

69.8%

Operating income

12,530

5,513

7,017

127.3%

Financial income (loss), net

(1,524)

(651)

(873)

134.1%

Share of profit of companies

202

53

149

281.1%

Income before income tax

11,208

4,915

6,293

128.0%

Income tax

(3,884)

(1,537)

(2,347)

152.7%

Net consolidated income consolidated

7,324

3,378

3,946

116.8%

non-controlling interest

(751)

(292)

(459)

157.2%

Net income attributable to owners of Ecopetrol

6,573

3,086

3,487

113.0%

EBITDA

15,896

8,187

7,709

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