Ecopetrol S.A. (EC)

Ecopetrol Income Statement

Financials in millions COP. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	133,330,746	143,078,746	159,473,954	91,744,080	50,223,393	71,488,512
Revenue Growth (YoY)	-9.89%	-10.28%	73.82%	82.67%	-29.75%	4.20%
Cost of Revenue	83,388,555	87,162,555	88,706,076	54,678,065	37,052,612	44,511,760
Gross Profit	49,942,191	55,916,191	70,767,878	37,066,015	13,170,781	26,976,752
Selling, General & Admin	7,836,536	7,609,536	6,565,547	4,810,915	4,702,893	3,431,485
Other Operating Expenses	2,592,584	2,592,584	2,222,481	1,578,262	996,348	795,103
Operating Expenses	15,862,574	14,444,574	10,923,370	6,984,612	6,606,037	6,007,101
Operating Income	34,079,617	41,471,617	59,844,508	30,081,403	6,564,744	20,969,651
Interest Expense	-8,886,831	-6,923,831	-5,517,417	-3,095,224	-2,384,342	-1,894,490
Interest & Investment Income	1,884,445	1,884,445	965,952	266,116	299,290	598,934
Earnings From Equity Investments	700,349	805,349	768,422	426,164	76,336	366,904
Currency Exchange Gain (Loss)	2,397,712	2,397,712	-124,650	330,002	346,774	40,639
Other Non Operating Income (Expenses)	-3,023,710	-3,023,710	-2,158,642	-1,198,948	-743,309	-415,577
EBT Excluding Unusual Items	27,151,582	36,611,582	53,778,173	26,809,513	4,159,493	19,666,061
Gain (Loss) on Sale of Investments	-7,987	-7,987	-2,092	-84,502	-66,512	-318,820
Gain (Loss) on Sale of Assets	121,309	121,309	-86,954	-123,342	-197,952	-148,021
Asset Writedown	63,186	63,186	337,167	-312,976	935,437	-426,556
Legal Settlements	-	-	-	-	-139,978	-98,020
Other Unusual Items	-	-	-	-	86,026	1,048,924
Pretax Income	27,328,090	36,788,090	54,026,294	26,288,693	4,776,514	19,723,568
Income Tax Expense	7,665,198	13,483,198	16,990,399	7,562,205	2,038,661	4,718,413
Earnings From Continuing Operations	19,662,892	23,304,892	37,035,895	18,726,488	2,737,853	15,005,155
Minority Interest in Earnings	-4,397,801	-4,242,801	-3,629,604	-2,031,804	-1,151,176	-1,261,144
Net Income	15,265,091	19,062,091	33,406,291	16,694,684	1,586,677	13,744,011
Net Income to Common	15,265,091	19,062,091	33,406,291	16,694,684	1,586,677	13,744,011
Net Income Growth	-29.60%	-42.94%	100.10%	952.18%	-88.46%	20.76%
Shares Outstanding (Basic)	41,117	41,117	41,117	41,117	41,117	41,117
Shares Outstanding (Diluted)	41,117	41,117	41,117	41,117	41,117	41,117
Shares Change (YoY)	0.00%	-	-	-	-	-
EPS (Basic)	371.26	463.61	812.48	406.03	38.59	334.27
EPS (Diluted)	371.26	463.61	812.48	406.03	38.59	334.27
EPS Growth	-29.61%	-42.94%	100.10%	952.18%	-88.46%	20.76%
Free Cash Flow	-	-3,498,279	15,520,266	9,685,405	-1,840,075	13,900,915
Free Cash Flow Per Share	-	-85.08	377.47	235.56	-44.75	338.08
Dividend Per Share	-	278.000	486.990	243.000	17.000	180.000
Dividend Growth	-	-42.91%	100.41%	1329.41%	-90.56%	6.51%
Gross Margin	37.46%	39.08%	44.38%	40.40%	26.22%	37.74%
Operating Margin	25.56%	28.99%	37.53%	32.79%	13.07%	29.33%
Profit Margin	11.45%	13.32%	20.95%	18.20%	3.16%	19.23%
Free Cash Flow Margin	-	-2.45%	9.73%	10.56%	-3.66%	19.44%
EBITDA	52,187,997	58,612,112	73,379,615	40,363,606	16,555,123	30,909,766
EBITDA Margin	39.14%	40.96%	46.01%	44.00%	32.96%	43.24%
D&A For EBITDA	18,108,380	17,140,495	13,535,107	10,282,203	9,990,379	9,940,115
EBIT	34,079,617	41,471,617	59,844,508	30,081,403	6,564,744	20,969,651
EBIT Margin	25.56%	28.99%	37.53%	32.79%	13.07%	29.33%
Effective Tax Rate	28.05%	36.65%	31.45%	28.77%	42.68%	23.92%

Source: S&P Capital IQ. Standard template. Financial Sources.