Ecopetrol S.A.: STRONG OPERATIONAL AND FINANCIAL GOAL ACHIEVEMENT

Core Insights - The company achieved a strong operating performance in 2024, with significant financial results and a solid investment plan for 2025 aimed at creating sustainable value for shareholders [1][6] - Key financial metrics for 2024 include revenues of COP 133.3 trillion, net income of COP 14.9 trillion, and an EBITDA of COP 54.1 trillion, reflecting a robust EBITDA margin of 41% [2][8] - The hydrocarbons business line demonstrated a 104% reserve replacement ratio, with significant contributions from the acquisition of the CPO-09 field and a production level of 746 kboed, marking a 1.2% increase from the previous year [3][8] Financial Performance - Total revenues for 2024 were COP 133.3 trillion, a decrease of 6.8% from COP 143.1 trillion in 2023 [9] - Net income attributable to owners of Ecopetrol was COP 14.9 trillion, down 21.7% from COP 19.1 trillion in 2023 [10] - EBITDA for the year was COP 54.1 trillion, a decline of 10.8% compared to COP 60.7 trillion in 2023, with an EBITDA margin of 40.6% [10] Operational Highlights - The company achieved the highest production level in nine years at 746 kboed and a record sales volume of 1,012 kboed [8] - The reserve replacement ratio was 104%, with a total of 260 MBPE added to reserves, and the average reserve life is 7.6 years [3][8] - In midstream operations, transported volumes reached 1,119 kbd, a 5.8% increase, while refining throughput was 414 kbd, reflecting operational availability of 94.5% [3] Strategic Initiatives - The company implemented an efficiencies program that resulted in historic optimizations amounting to COP 5.3 trillion [1][8] - In the energy transition sector, the company achieved energy optimization of 4.17 PJ, leading to savings of approximately COP 128 billion [4] - The approval of Phase III of the Coral project aims to produce up to 880 tons per day of green hydrogen at the Cartagena Refinery [4] Future Outlook - The company plans to continue enhancing shareholder value through strict capital discipline and efficiencies while reinforcing traditional business operations [6]