Another way to look at the corporate earnings season is to look at the companies that reported the highest earnings growth.
If we consider the companies that reported data in the last four weeks, Grupo Sura, Celsia, EPM, Grupo Energía de Bogotá and Isagen, they had the best rebound in percentage change in sales.
For example, Grupo Sura between January and September accumulated revenues of $26.4 billion, that is 27.7% more than the same period in 2022 when the data closes at $20.7 billion. However, the company saw a drop in revenue, because in annual change they contracted by 18.2%, from around $1.4 billion in 2022 to $1.1 billion in the ninth month of 2023.
Celsia, for its part, increased its sales from January to September 2023, 19.7% compared to the same period in 2022. Revenue from $3.8 billion to $4.7 billion. Although the energy company also had an impact on income, because they fell more than 34%, jumping from $ 429,538 million to $ 282,539 million.
Ricardo Sierra, president of Celsia, explained that he is confident of an end of the year where the growth of income will continue, because “the resources from the sale of some assets in Central America will allow us to implement the segment to repurchase as authorized by our shareholders and continue to grow”.
The third best performance of EPM revenue increase, the company added $ 11.4 billion, which is 17.9% higher than last year’s $ 9.6 billion. But the income also improved, in the nine months that income increased by 15.1%, despite the problems with the prices of public services during the year. The accumulated benefits since September reached $3.3 billion that will go to the accounts of the Office of the Mayor of Medellín, compared to $2.9 billion in 2022.
Grupo Energía de Bogotá also accelerated revenues and profits. Cumulative sales approached $6 billion, which is 17.6% higher than over $5 billion. And when it comes to profits, they increased 10.5% from $2 billion to more than $2.3 billion.
Some analysts found that the delivery of reports in the third quarter showed a general impact on the income of most companies. Added to the reports for the third quarter of the year is a reflection of the fall of the Colombian economy in that decline reported by Dane (last week) of -0.3%.
