Grupo Energía Bogotá (GEB), a Colombian energy group that runs gas pipelines, gas networks and power grids, earned 19% less in the third quarter of 2026 than a year earlier. Net income was COP 669 billion (about US$201 million), down from COP 825 billion (about US$248 million).
The group put its results on its investor page on Friday 13 November 2026. All dollar figures here use a rounded 3,329 pesos to the dollar, so they show scale rather than the exact dollar value.
Revenue and Profit Both Fell
Revenue was COP 1.73 trillion (about US$520 million), down 12.8% from COP 1.98 trillion in the third quarter of 2025. Gas distribution, the biggest business, fell 19.9% to COP 787 billion (about US$236 million).
Gas transport fell 7.5% to COP 466 billion (about US$140 million) and power transmission fell 3.0% to COP 331 billion (about US$99 million). Power distribution fell 6.8% to COP 145 billion (about US$44 million).
Total costs fell faster than revenue. Gross profit from operating activities therefore slipped only 5.4%, to COP 840 billion (about US$252 million).
The Bogotá skyline (file photo)Why Profit Fell Faster Than Cash Profit
EBITDA, which strips out interest, tax and depreciation, was COP 918 billion (about US$276 million), up 2.0% from COP 900 billion. Net income fell much faster because of lines further down the income statement.
Impairment losses on receivables, money customers may not pay, rose to COP 184 billion (about US$55 million) from COP 63 billion (about US$19 million). The foreign-exchange result swung from a gain of COP 119 billion (about US$36 million) to a loss of COP 41 billion (about US$12 million).
Income from associates and joint ventures, companies GEB co-owns, rose 12.4% to COP 646 billion (about US$194 million). Profit before tax still fell 23.5% to COP 743 billion (about US$223 million).
Profit attributable to GEB’s own shareholders was COP 630 billion (about US$189 million), down 19.1%. Net income was 4.5% below the COP 701 billion (about US$211 million) of the second quarter.
Debt and Cash at 30 September
Net debt was COP 18.1 trillion (about US$5.44 billion), almost unchanged from a year earlier. Gross debt rose to COP 21.3 trillion (about US$6.40 billion) from COP 19.5 trillion at 30 June.
GEB’s own ratio of net debt to EBITDA was 3.17 times, against 3.49 times a year earlier. Cash and equivalents were COP 2.98 trillion (about US$896 million), up from COP 1.42 trillion a year earlier.
Why It Matters
GEB told shareholders on Monday 28 September 2026 that it will start registering with the US Securities and Exchange Commission, the American market regulator. It plans a listing of American Depositary Receipts, dollar-traded shares in foreign companies, and the board decides the timing, structure and exchange.
About 99.97% of the shareholders at that meeting voted in favour. We covered the US listing paperwork when it began, and these are the first quarterly numbers since.
What It Means for You
For a US investor, the headline is a profit that fell while operating cash profit held up, so the gap sits in provisions, currency effects and co-owned businesses. Our second-quarter report covers the previous three months, and the GEB company profile has the background.
The group earns in pesos, so dollar figures depend on the exchange rate used. Ours use one rate for every line, so they show scale rather than the quarter’s true dollar profit.
What Is Not Known
We could not open the company’s written commentary on the results, so we do not say what drove the rise in impairment losses. The board has not given a date for the US listing.
More: Colombia news in English, every day from The Rio Times.
Frequently Asked Questions
How much profit did Grupo Energía Bogotá make?
Net income in the third quarter of 2026 was COP 669 billion (about US$201 million), down 18.9% from a year earlier. Profit attributable to its own shareholders was COP 630 billion (about US$189 million).
Did revenue and EBITDA fall too?
Revenue fell 12.8% to COP 1.73 trillion (about US$520 million). EBITDA, operating cash profit, rose 2.0% to COP 918 billion (about US$276 million).
Is Grupo Energía Bogotá planning a US listing?
Shareholders authorised registration with the US Securities and Exchange Commission on 28 September 2026. The company plans American Depositary Receipts, and its board sets the timing.
Sources: Grupo Energía Bogotá, third-quarter 2026 financial data pack, investor results centre, 13 November 2026; Grupo Energía Bogotá, shareholders authorise US registration, 28 September 2026.