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    ECOPETROL   COC04PA00016

ECOPETROL S.A.

(ECOPETROL)
  Report
End-of-day quote. End-of-day quote Bolsa De Valores De Colombia - 05/07
2288 COP   -0.13%
05/05ECOPETROL S A  : Posts Rise in Q1 Net Income, Total Sales; Reaffirms 2021 Production Target
MT
05/04ECOPETROL S A  : Supplemental Information
PU
05/04ECOPETROL S A  : Presentation
PU
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Ecopetrol S A : Presentation

05/04/2021 | 05:53pm EDT

OPERATIONAL AND FINANCIAL

RESULTS

Fourth Quarter and Full Year 2020

LEGAL DISCLOSURE

This document was prepared by Ecopetrol S.A. (the "Company" or "Ecopetrol") with the purpose of providing the market and interested parties certain financial and other information of the Company.

This document may include strategy discussions and forward-looking statements regarding the probable development of Ecopetrol's business. Said projections and statements include references to estimates or expectations of the Company regarding its future and operational results. Potential investors and the market in general should be aware that the information provided herein does not constitute any guarantee of its performance, risks or uncertainties that may occur or materialize. Actual results may fluctuate and differ from those provided herein due to several factors outside of the control of the Company. Such forward-looking statements speak only as at the date in which they are made and neither Ecopetrol nor its advisors, officers, employees, directors or agents, make any representation nor shall assume any responsibility in the event actual performance of the Company differs from what is provided herein. Moreover, Ecopetrol, its advisors, officers, employees, directors or agents shall not have any obligation whatsoever to update, correct, amend or adjust this presentation based on new information or events occurring after its disclosure. Additional factors that may affect the future results of Ecopetrol are set forth in the section entitled "Risk Factors" in the Company's Report on Form 20-F for the year ended December 31, 2019 and in the Company's other filings with Securities and Exchange Commission (the "SEC"), which are available at www.sec.gov.

This presentation is for discussion purposes only and is incomplete without reference to, and should be viewed solely in conjunction with, the oral briefing provided by Ecopetrol. Neither this presentation nor any of its contents may be used for any other purpose without the prior written consent of Ecopetrol.

The information contained in this earnings report relating to operational information, financial information and/or statistical data pertaining to companies or institutions that might be considered peer group companies to Ecopetrol has been obtained from public sources available to the general public and is being used solely for informative and statistical purposes. We have not independently verified any such operational information, financial information and/or statistical data, although we believe such operational information, financial information and/or statistical data has been obtained from reliable sources. Ecopetrol S.A. is not liable and does not assume any responsibility for the accuracy, veracity or authenticity of any such operational information, financial information and/or statistical data.

2

OUR SPEAKERS

ALBERTO CONSUEGRA

FELIPE BAYÓN

JAIME CABALLERO URIBE

COO

CEO

CFO

Strategic progress under challenging conditions

Safety in our operations

Profitable growth

TESG

• Designed and implemented action plan prioritising

• Focus on reserves protection

• Updated renewable energy's capacity target to

the commitment to safety in our operations

400 MW by 2023

• Strengthened our gas strategy

• + COP 88 B in social invesment commitments to

o EBITDA Margin in excess of 50% in 2020

• Started construction of 59 MW - San Fernando

humanitarian aid to support the pandemic

o Shell -strategic partner in the Colombian

Solar Park-

Offshore

• New Cultural Declaration launched

• Delivered cleaner fuels, gasoline with <50 ppm

• Progress in unconventional reservoirs

• Innovation and technology in our core

o Awarded Kalé, first CEPI Project

• Increased alliances for Digital Transformation

+ 5,000 average daily recurring connections

o Permian contributed 5.2 mboed in 2020

+ 8,000 daily virtual meetings

Intensified focus on cost efficiency

o Savings of ~ COP 0.7 T in 2020

4

CEPI: Special Research Project Contract ( acronym in Spanish)

Ecopetrol continues to deliver superior results

METRICS

2020 TARGET

2020 REAL

Capex (US$ M)

US$2,500 - US$3,000

US$2,674

Operating cash flow generation

~US$ 1,900 M

US $ 2,500

Cash breakeven*

< US$30 /Bl

US$ 32.7 /Bl

Gross debt/EBITDA

<3.5x

2.8x

Production (mboed)

~700

697

Throughput (mbd)

300-320

320

Exploratory wells

17

18

Transported volume (mbd)

~1,000

1,017

Net Income US$ B

IOCS NOCs

Majors

ROACE (%)

NOCs

Majors IOCS

Gross Debt/EBITDA (Times)

2.8

2.0

Majors

IOCS

NOCs

Majors: Exxon, Total, Shell, Chevron, BP. IOCs: Hess, Repsol, ConocoPhillips. NOCs: Equinor, PTTEP, ENI

5

* Calculated as the Brent price variation that results in a minimum year end cash balance, as defined by Ecopetrol after operating

cash generation, capex, dividends and financing.

Disclaimer

Ecopetrol SA - Empresa Colombiana de Petroleos published this content on 04 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 May 2021 21:52:08 UTC.


© Publicnow 2021
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Financials
Sales 2021 65 652 B 17 726 M 17 726 M
Net income 2021 9 570 B 2 584 M 2 584 M
Net Debt 2021 38 245 B 10 326 M 10 326 M
P/E ratio 2021 13,8x
Yield 2021 1,22%
Capitalization 96 912 B 26 073 M 26 166 M
EV / Sales 2021 2,06x
EV / Sales 2022 1,94x
Nbr of Employees 13 977
Free-Float 10,7%
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Technical analysis trends ECOPETROL S.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 2 426,04 COP
Last Close Price 2 357,00 COP
Spread / Highest target 18,8%
Spread / Average Target 2,93%
Spread / Lowest Target -21,9%
EPS Revisions
Managers and Directors
NameTitle
Felipe Bayón Pardo Chief Executive Officer
Jaime Caballero Uribe Chief Financial Officer
Luis Guillermo Echeverri Velez Chairman
Andrés Mantilla Zárate Vice President-Innovation & Technology
Alberto Consuegra Granger Chief Operating Officer
Sector and Competitors
1st jan.Capitalization (M$)
ECOPETROL S.A.1.92%25 005
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CNOOC LIMITED21.45%50 128
EOG RESOURCES, INC.69.54%48 498
PIONEER NATURAL RESOURCES COMPANY47.36%40 941
CANADIAN NATURAL RESOURCES LIMITED36.32%40 723