Welcome!

Microsoft Cloud Authors: Dana Gardner, David Bermingham, Yung Chou, Jayaram Krishnaswamy, Pat Romanski

News Feed Item

Ecopetrol Announces Its Results for the Fourth Quarter and Full Year 2012

-- In 2012 the average production (Ecopetrol S.A. including interests in affiliates and subsidiaries) was 754.0 mboed[1], an increase of 4.1% compared to the average production in 2011.

BOGOTA, Colombia, Feb. 15, 2013 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) announced today its financial results, both consolidated and unconsolidated, for the fourth quarter and full year 2012, prepared and filed in Colombian pesos (COP$) in accordance with the Public Accountancy Legal Framework (Régimen de Contabilidad Pública, RCP) of Colombia's General Accounting Office.

(Logo: http://photos.prnewswire.com/prnh/20090209/ARM001LOGO )

Some figures in this release are presented in U.S. dollars where indicated. The exhibits in the release have been rounded to one digit. Figures presented in COP$ billion are equivalent to COP$1 one thousand million.

Ecopetrol S.A. Financial Results

Unconsolidated

(COP$ Billion)

4Q 2012 *

3Q 2012*

Var. %

4Q 2011 *

Var. % **

2012*

2011

Var. %

Total sales

15,054.4

14,228.7

5.8%

16,054.2

(6.2%)

59,524.6

56,492.3

5.4%

Operating profit

5,037.9

4,913.0

2.5%

7,045.3

(28.5%)

22,856.4

24,351.6

( 6.1%)

Net Income

3,706.8

3,247.5

14.1%

4,432.6

(16.4%)

14,972.9

15,448.1

( 3.1%)

Earnings per share (COP$)

90.15

78.99

14.1%

107.81

(16.4%)

364.16

379.97

( 4.2%)

EBITDA

6,165.0

6,231.7

( 1.1%)

7,474.0

(17.5%)

27,572.6

28,130.3

( 2.0%)

EBITDA Margin

41%

44%


47%


46%

50%




















Consolidated

(COP$ Billion)

4Q 2012 *

3Q 2012*

Var. %

4Q 2011 *

Var. % **

2012*

2011

Var. %

Total sales

17,758.2

16,556.7

7.3%

18,917.7

( 6.1%)

68,852.1

65,967.6

4.4%

Operating profit

4,956.0

5,551.3

( 10.7%)

7,427.2

( 33.3%)

24,206.4

25,873.0

( 6.4%)

Net Income

3,620.8

3,227.3

12.2%

4,437.9

( 18.4%)

14,779.0

15,452.4

( 4.4%)

EBITDA

6,124.7

6,914.6

( 11.4%)

8,018.0

( 23.6%)

29,274.8

30,236.4

( 3.2%)

EBITDA Margin

34%

42%


42%


43%

46%











* Not audited, for illustration purposes only






** Between 4Q 2012 and 4Q 2011







Some figures of 2011 were reclassified to be comparable with 2012





In the opinion of Ecopetrol S.A.'s CEO, Javier Gutierrez:

"2012 was quite challenging for Ecopetrol. Various circumstances related to operations and the overall environment were addressed in order to attain growth and positive results for our shareholders. The strategic plan for profitable and sustainable growth is making progress on every front.

Ecopetrol achieved various important milestones in each segment of our business in 2012:

In E&P we highlight the discoveries of hydrocarbons in the Gulf of Mexico (U.S.), the new exploratory blocks granted in Colombia and in the Gulf of Mexico (U.S.), the progress in the offshore strategy along Colombia's Atlantic coast, the growth in production of the Chichimene field, the 109% Reserves Replacement Ratio and the launch of our strategy in unconventional reservoir hydrocarbons.

In transport and logistics we highlight the incorporation of our affiliate Cenit specialized in hydrocarbon transport and logistics in Colombia, the expansion of transport systems, and the progress in the infrastructure integrity and reliability plans. 

In marketing we reached record export volumes, with increases in crude oil and products to the Far East.

In refining, during December we began delivering throughout Colombia ultra low sulphur diesel, with the highest quality standards in Latin America.

In finance, our rating outlook was upgraded by Standard & Poor's, and competitive results were achieved compared to the oil industry, despite the challenges we faced but in a favorable price environment.

Finally, we continue with consistent improvement in HSE (health, safety and environment), we obtained 21 patents, and continue to be included in the Dow Jones world sustainability index for a second consecutive year."

The full report is available in www.ecopetrol.com.co

[1] Thousands of barrels of oil equivalent per day

Ecopetrol is Colombia's largest integrated oil & gas company, where it accounts for 60% of total production. It is one of the top 50 oil companies in the world and the fourth largest oil company in Latin America. The Company is also involved in exploration and production activities in Brazil, Peru and the United States Gulf Coast, and owns the main refineries in Colombia, most of the network of oil and multiple purpose pipelines in the country, petrochemical plants, and is entering into the biofuels business.
 
This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Ecopetrol. These are merely projections and, as such, are based exclusively on the expectations of management concerning the future of the business and its continued access to capital to fund the Company's business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Colombian economy and the industry, among other factors; therefore, they are subject to change without prior notice.

Contact us for any additional information:
 
Investor Relations
Alejandro Giraldo
Phone: +571-234-5190
Email: [email protected]  
 
Media Relations (Colombia)
Mauricio Tellez
Phone: + 571-2345377
Fax: +571-2344480
Email: [email protected]
 
Website: www.ecopetrol.com.co

SOURCE Ecopetrol S.A.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Avere delivers a more modern architectural approach to storage that doesn’t require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbuilding of data centers ...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
The Quantified Economy represents the total global addressable market (TAM) for IoT that, according to a recent IDC report, will grow to an unprecedented $1.3 trillion by 2019. With this the third wave of the Internet-global proliferation of connected devices, appliances and sensors is poised to take off in 2016. In his session at @ThingsExpo, David McLauchlan, CEO and co-founder of Buddy Platform, will discuss how the ability to access and analyze the massive volume of streaming data from mil...
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
WebSocket is effectively a persistent and fat pipe that is compatible with a standard web infrastructure; a "TCP for the Web." If you think of WebSocket in this light, there are other more hugely interesting applications of WebSocket than just simply sending data to a browser. In his session at 18th Cloud Expo, Frank Greco, Director of Technology for Kaazing Corporation, will compare other modern web connectivity methods such as HTTP/2, HTTP Streaming, Server-Sent Events and new W3C event APIs ...
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
SYS-CON Events announced today that iDevices®, the preeminent brand in the connected home industry, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. iDevices, the preeminent brand in the connected home industry, has a growing line of HomeKit-enabled products available at the largest retailers worldwide. Through the “Designed with iDevices” co-development program and its custom-built IoT Cloud Infrastruc...
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
Silver Spring Networks, Inc. (NYSE: SSNI) extended its Internet of Things technology platform with performance enhancements to Gen5 – its fifth generation critical infrastructure networking platform. Already delivering nearly 23 million devices on five continents as one of the leading networking providers in the market, Silver Spring announced it is doubling the maximum speed of its Gen5 network to up to 2.4 Mbps, increasing computational performance by 10x, supporting simultaneous mesh communic...
Eighty percent of a data scientist’s time is spent gathering and cleaning up data, and 80% of all data is unstructured and almost never analyzed. Cognitive computing, in combination with Big Data, is changing the equation by creating data reservoirs and using natural language processing to enable analysis of unstructured data sources. This is impacting every aspect of the analytics profession from how data is mined (and by whom) to how it is delivered. This is not some futuristic vision: it's ha...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...