Ecopetrol Group´s results: Historic figures that drive our 2040 strategy
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Ecopetrol Group´s results: Historic figures that drive our 2040 strategy
Feb 28, 2023
The Ecopetrol Group ended 2022 generating the best financial results in its history by obtaining a net income of COP 33.4 trillion, doubling the one generated in 2021, and an EBITDA of COP 75.2 trillion with an EBITDA margin of 47%.
This solid financial performance was leveraged by: i) favorable price environment, ii) higher contribution to production from Permian and Ecopetrol S.A., iii) record results in the refineries, and iv) solid results from ISA. The above allowed us to offset: i) inflation and the exchange rate effect on operating costs and expenses, ii) higher interest on debt, iii) higher exploratory expenses and iv) an increase in the nominal income tax rate for 2022.
