Colbún S.A. Reports Earnings Results for the Second Quarter of 2018
August 03, 2018 at 12:00 pm EDT
Share
Colbún S.A. reported earnings results for the second quarter of 2018. The company reported non-operating income in the second quarter 2018 recorded loss of $31 million, which compares with the loss of $1 million in second quarter 2017. The higher loss in the quarter is mainly explained by: First, a nonrecurring income of $23.4 million as a response of the recognition of the company deferred tax assets in subsidiary Fenix, second, the negative impact of the variations of the exchange rate over temporary balance accounts in local currency during the quarter; and third, accounting record in the lines other profit losses of provisions for impairments of specific assets for $4 million. Although, second quarter of this year shows lower profits before taxes than the same quarter of the previous year. The company net income of $45 million, lower than the net income of $78 million of the second quarter of the previous year. The lower profit is mainly explained by the higher nonoperating losses recorded during the second quarter of the previous year.
Colbun SA is a Chile-based company engaged in the generation and distribution of electricity. The Company operates, through its affiliated companies, in the generation, transportation, transformation, distribution, supply or commercialization of electric power and management or operation of power plants. Its clients range from electric suppliers to manufacturing and mining companies. The Companyâs energy sources include Hydroelectricity and Thermoelectricity. The Company operates hydroelectric power plants and thermal power plants, which can run on petroleum and natural gas and coal. Its power plants and projects contribute energy to the Central Interconnected Grid (CIG). Its power stations are distributed throughout 4 basins and 4 regions of the southern central region of Chile. The Companyâs affiliated companies include, among others, Termoelectrica Antilhue SA and Empresa Electrica Industrial SA. It owns also power generation assets in Peru.
COLBÚN S.A. 
